What's wrong with me being a rich man?

Chapter 672 Reconciliation (4k)

The implementation of new energy policies in China has been relatively rapid.

Yu Xing launched a poll on Weibo, and within a few days, he received the specific time for the licenses to be put into use. The pilot program will begin on December 1st in five cities: Shanghai, Nanjing, Wuxi, Jinan, and Shenzhen.

If there are no problems, more cities will follow suit next year, and it is estimated that it will be implemented nationwide in about another year.

Everyone inside the carbon silicon company felt that the new license was quite refreshing, and they thought that the plan favored by the boss was the best-looking one. Of course, Yu Xing didn't know if it was a case of "what the superiors like, the subordinates will follow even more".

The new license plates were good news in May. Another piece of good news from Lingang was the official commissioning of the Lingang No. 2 plant, which means that the annual production capacity of carbon silicon can reach 220,000 vehicles.

This represents a relatively ample production capacity at the current stage, and it also has upward potential if future order growth exceeds expectations.

Silicon carbide sold 8.25 vehicles in the first ten months of last year. Based on the market situation in the first four months of this year, the most optimistic figure this year may be 17 vehicles.

One challenge now is that the subsidies in Shanghai and Zhejiang will end in June, and these two regions are important sources of orders for the Silicon Carbon Group. They will inevitably suffer a greater impact from the reduction of subsidies in the second half of the year.

The company has already had experience with this before, and the relevant contingency plan has been confirmed by Yu Xing.

While there is indeed pressure, the clear deadline for subsidy reduction will surely allow the company to replicate the order backlog from the end of last year and hopefully secure even more large orders in Zhejiang and Shanghai.

In addition, silicon carbide will launch a manufacturer's interest subsidy policy in July, allowing car owners to enjoy three years of interest-free loans, which will indirectly bring down prices.

On May 19, Cui Zhiyu summarized the month's production capacity performance to his boss and also mentioned the upcoming new car launch.

"The timeframe can be set before December, which coincides with the pilot program for the new license plates in Shanghai. This would also be a good marketing opportunity," Yu Xing suggested.

Cui Zhiyu could tell that the boss was very satisfied with the new license.

Yu Xing then said, "You can preside over it then."

"Huh? Me?" Cui Zhiyu was stunned for a moment, and subconsciously declined, "I can't do it, such a big thing should be done by President Yu."

“What’s the big deal about going on stage to introduce a car?” Yu Xing shook his head. “If I host, the topic will just veer back to short selling.”

Cui Zhiyu hesitated and said, "It's almost the end of the year, things should get much better by then."

Yu Xing calmly said, "It's not much better. I can already imagine what the media will say, like 'One year since my identity was exposed' or 'A retrospective of Yu Xing's exposure.' It's better to keep things pure on the carbon and silicon side."

Cui Zhiyu was inexplicably amused by the phrase "one year anniversary." In retrospect, it might indeed be the one-year anniversary of getting to know the boss again, and the media might very well be very ceremonial about it.

"Jiuzhou's performance over the past year or so has actually lived up to everyone's attention. For the five-seater version, could we lower the price a little further?" Yu Xing brought up an important pricing issue.

The five-seater version of the silicon carbide Kyushu has completed road testing; the configuration and price will be determined later.

Many executives believe that the five-seat version, positioned between the Pro and Max models, would be a good addition to the ecosystem.

Yu Xing has been pondering this matter recently, considering both the company's positioning and the possibility of slightly lowering prices to achieve a larger scale and fully utilize the capacity of the second factory.

This approach inevitably has both advantages and disadvantages. The most important concern is that the 30 level is not easy to reach. The current situation is good, and lowering the threshold might damage the image.

“Mr. Yu, I think we can adjust our pricing strategy based on the level of cash subsidies.” Cui Zhiyu was also considering the pricing issue and shared his thoughts: “The subsidies will be reduced next year, so the price we release in Q4 can be lowered based on this year’s subsidies. However, next year the national policy will naturally bring back the discounts, and then we can consider interest-free financing and other methods to cater to users’ purchasing psychology.”

"This way, we can both maintain the image of the car model and substantially expand our customer base."

The domestic subsidy policy is clear: the national subsidy will decrease by 20% each year, and local subsidies can only be up to 50% of the national subsidy based on this year's situation.

This year, Kyushu is offering a cash subsidy of 4.5 yuan outside of Shanghai and Zhejiang, while the Pro version is priced at 34.58 yuan. With insurance added, the final price will be over 31 yuan. Even in Shanghai and Zhejiang, where the subsidy level is maintained from last year, the price will reach 30 yuan.

Being in your 20s and 30s are indeed two different psychological experiences.

Yu Xing nodded slightly upon hearing Cui Zhiyu's words: "This can be studied in detail. Our primary goal now is to increase the quantity."

The "Jiuzhou" series of silicon carbide will inevitably be upgraded in the future. With the length of the vehicle increasing to 5.2 meters, the configuration in all aspects will be further improved, and the positioning will naturally be raised.

How to compete in the market with models priced above 30, how to compete in the market with models priced below 30, and how to add models in the 20 price range to compete in the future are all things that the company has been considering and discussing internally.

GAC used the GS7 to make a statement that it was targeting Kyushu. Although Kyushu has fallen far short of the target due to issues such as product strength, it has served as a reminder that features such as screens and refrigerators are not difficult to replicate.

As the domestic supply chain further develops and matures, these costs will naturally decrease.

The ecosystem of car models is one where "if you don't occupy it, someone else will." Therefore, using a new sub-brand to secure a niche in the 20 RMB price range is not an option that needs much consideration in the future.

Yu Xing chatted with Cui Zhiyu for a long time, and after he left, he pondered the changes in market competition for a while.

Just as I was getting ready to finish work and go home in the evening, a phone call came in from an old acquaintance.

Yu Xing glanced at the screen for a few seconds before answering the call, saying in a light tone, "Director Xu, what brings you to call me? I thought you'd forgotten about me."

Xu Rongxuan from Dragon TV breathed a sigh of relief when he heard President Yu's joking voice.

He met President Yu through the show "Only You" and they have kept in touch over the years, especially during holidays. However, as President Yu's business has grown and he has acquired a more complicated identity, it's hard to say whether he still cares about their past friendship.

“President Yu, I was afraid of disturbing your work.” Xu Rongxuan controlled his tone. “I heard that it’s hard to get a car in Kyushu, and even you have to go down to the workshop to urge them. I’m afraid that my phone call will delay my colleagues from getting the cars.”

Yu Xing laughed heartily and exchanged pleasantries with Xu Rongxuan.

He felt quite relaxed chatting with old acquaintances.

I've hardly been giving any media interviews lately. The company in Lingang is on track, and I'm giving the big short sellers the cold shoulder in Beijing. I've had a lot more personal time lately, and I do occasionally watch the show "Only You" that I recorded before.

"Director Xu, given our relationship, just say what's on your mind." Yu Xing wasn't overly enthusiastic.

"Mr. Yu, I am extending a warm invitation on behalf of the program team. We hope you can come and record another episode to guide our job seekers." Xu Rongxuan still used their friendship as a starting point.

Yu Xing smiled and said, "No need for that, Director Xu. As you know, I don't want to make any public appearances lately. I have no choice but to keep a low profile."

Xu Rongxuan knew this referred to the impact of his empty-slip identity being exposed.

To be honest, he was deeply shocked when he learned of the situation last year, and he really wanted to invite the King of Short Sellers to his show to talk about his other business venture, which would surely break viewership records. However, such an invitation could only remain in his mind; he couldn't possibly ask the other party to appear in the limelight just to keep his record up.

"Oh, Mr. Yu, I really think cracking down on fraud by listed companies is a wonderful thing," Xu Rongxuan said sincerely. "If you need any public publicity, please don't hesitate to help."

Yu Xing smiled slightly: "I won't stand on ceremony, and Director Xu, you shouldn't stand on ceremony either."

Upon hearing this, Xu Rongxuan coughed and said, "President Yu, it's like this. Recently, the station is planning to produce a program, and we are looking for sponsors. I think the program quality is good, so I was thinking that if it's convenient, we could have someone from Carbon Silicon come and take a look at our plans."

Yu Xing was about to ask a couple of questions when he suddenly noticed a foreign number appearing on another phone.

He immediately said, "Director Xu, is there any need to say more about this? I'll have my secretary contact you to see how to finalize it. I need to take this call; someone from overseas who wants to arrest me called, and I have to answer it."

Xu Rongxuan was pleasantly surprised, feeling that President Yu was really kind, but also thinking that the other party was joking.

However, after he hung up the phone and pondered the last half of President Yu's sentence, he suddenly felt that it was very likely the truth.

Xu Rongxuan suddenly recalled how naive President Yu was when he recorded the show back then. He was so honest back then... uh, wait, President Yu seemed to be more sharp back then. He had already taken down the "King of Hired Managers" in the previous episode.

On the contrary, he became much more low-key when he started making cars in Lingang. If it weren't for the short selling that exposed him, he would really seem like a great person.

Unaware of his old acquaintance's resentment, Yu Xing dialed the number from BaFin Bowman.

This Bowman was a key figure in the initial investigation when he came to Hong Kong to find the person, and he has also been working hard to push for a joint investigation by the European Union.

Yu Xing didn't use a translator, but conveyed his meaning in simple English: "What brings you here?"

Bowman speaks very quickly, rattling off a whole bunch of things in a flash.

“My English isn’t good, so speak slower, or you can just call a lawyer.” Yu Xing’s words forced the other party to slow down.

“Yu Xing, don’t try to pressure BaFin anymore, and don’t try to use personal relationships to solve the problem.” Bowman said seriously, “You and Guo Shanfeng will inevitably have to pay the price for your market manipulation. Cayman can no longer help you hide the funds. If you cooperate now, I can still ask the prosecution to consider your attitude.”

Yu Xing remained silent.

Bowman waited for a while but didn't hear anything.

He didn't think the other party hadn't understood, and continued to exert pressure by citing the latest news from the Cayman Islands, saying, "You can hide in mainland China, but your company is listed in the United States, and Hong Kong also has a mutual assistance agreement with us. You have to consider these issues. Your company and business will be completely frozen overseas."

Yu Xing remained silent.

Bowman then tried to win him over psychologically: "Just like you used the mountain peak to boast, deception will last forever, but it will always be caught. Your identity was exposed by your own company. Don't you think this is a judgment from the heavens? Yu Xing, you can't escape!"

As Yu Xing listened to Bowman's impassioned speech, he slowly said, "Bowman, I respect your and your colleagues' efforts. However, innocence is innocence. I know that the Cayman Islands has agreed to disclose information involving suspicious funds related to Guoshan Peak."

"But it will actually prove our innocence, and the prosecution will not consider those things to constitute a criminal issue."

"Bowman, you'll get a call; they'll give you the latest news."

"I wish you all the best. I respect you very much, and I respect BaFin even more."

Yu Xing ended his call with Bowman, a BaFin mid-level manager who insisted on investigating and holding Shanfeng accountable.

Bowman put down his phone and chuckled coldly, believing that the other party was still stubborn. Under pressure from Germany and the EU, as well as considering its own interests, the Cayman Islands was already willing to exchange information on funds suspected of being illegally obtained.

This would be a fatal blow to the mountain peak.

Bowman lit a cigarette, just as he was about to consider the next steps in his communication with the prosecutors, when he suddenly received a call on his phone from Vice President Legler.

“Bauman, we’ve reached a settlement with Guoshanfeng.” Legler said simply and directly, “You no longer need to follow Guoshanfeng’s case.”

Bowman was completely stunned.

He could hardly believe what he was hearing: "Reconciliation? What reconciliation??"

“We believe that the issue of Guoshanfeng is not worth our continued effort, and the evidence presented so far is insufficient to initiate a criminal case,” Legler said. “Therefore, we will impose administrative penalties on Guoshanfeng.”

“How is it insufficient? Whose conclusion is this? I still need to organize information about the Cayman Islands, this is not…” Bowman raised his voice but was interrupted.

Legler said calmly, "I'm not discussing this with you, I'm informing you that you are no longer in charge of this matter."

Bowman's words were completely blocked.

By the time he realized what was happening, his phone was just busy.

Bowman gripped his phone, his mind clouded by Yu Xing's words. This reconciliation bypassed him, the person in charge of the case, completely. This was absurd!

However, he soon saw an updated message.

BaFin announced an investigation into illegal activities by investment banks such as Deutsche Bank in manipulating the silver market, and according to insiders, the evidence for launching this investigation came from Guo Shanfeng.

Settlement terms? A guilty exchange? A tainted witness?

Bowman browsed the news and inquired about information, but still believed that the so-called settlement process between Guoshanfeng and BaFin was irregular, and that information from the Cayman Islands had not yet played a significant role.

He immediately responded to these questions that very evening.

Then, Bowman received a notification the following day.

“Take a break, Bowman,” BaFin President Hufeld kindly informed Bowman, a key employee, “You’ve been working too hard lately. You should take a break for a while.”

Looking at the seemingly harmless CEO in front of him, and considering his close relationship with the vice president, Bowman still asked, "Why? I don't understand."

Hufferd offered no explanation, but simply reiterated the immediate rest notice.

He had never liked the immature Bowman. Fortunately, there were still 20% of the people in BaFin who were sensible, and they received their due reward when Wilcard's stock price rebounded.

(End of this chapter)