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Soon after, Su Qing heard that Suning had invested in the photoresist project, and her first reaction was: This kid has gone crazy.

Having worked in the drone industry for so many years, she knows all too well the barriers to entry in high-tech manufacturing: technology, equipment, talent, and capital are all indispensable.

Is photoresist, something that has been monopolized by foreign countries for decades, something that ordinary people can easily handle?

Even with the combined efforts of the entire nation, it would be difficult to achieve a breakthrough, let alone for a fledgling investment company.

Su Qing's first thought was that her younger brother, Su Ning, had been deceived, and that the swindler had taken advantage of Su Ning's ambition and eagerness for success.

The name "Hanxin Materials" is particularly jarring to some people, given the infamous "Hanxin Incident" of that year.

That evening, Su Qing went home and told Su Jianguo about it.

"Dad, Su Ning is getting more and more outrageous!" Su Qing said angrily. "Investing in medical AI is one thing, at least it's a trending field. But now he's getting into photoresist? Does he even know what photoresist is? Does he know how much money he needs to invest? Does he know how high the technical barriers are?"

Su Jianguo was watching the news when he heard this and frowned: "Photoresist? He really invested in it?"

"They really invested! They've already registered the company, it's called Hanxin Materials, and they've even chosen Wuxi as the factory site." Su Qing became increasingly angry as she spoke. "I've heard that they plan to start mass production of one million tons by the end of next year. Isn't this a joke? Several established chemical companies in China have been trying for over a decade and haven't succeeded. What makes a fresh graduate like him think he can do it? Besides, does he even know what photoresist is?"

Su Jianguo was silent for a moment, then picked up his phone and called Su Ning: "Su Ning, come home now, I have something to ask you."

……

Half an hour later, Suning returned.

As soon as I entered the door, I saw my father and sister sitting in the living room with sullen faces.

"Dad, sister, what's wrong?" he asked.

"What's going on with your photoresist project?" Su Jianguo asked bluntly.

“It’s just a normal investment project!” Su Ning sat down opposite him. “Hanxin Materials makes photoresist. The technology is in place, and the factory site has been decided. Next is to build the factory, bring in equipment, and recruit people.”

"Where did you get the technology?" Su Qing interrupted him. "The formula for photoresist is an industry secret, and foreign companies keep it tightly under wraps. Where did you get the technology?"

“The major shareholder of Ningyuan Capital, Funing Capital, is the technical expert they brought in,” Su Ning said naturally. “The expert’s name is Zhao Liming. He previously worked in a top overseas laboratory and has a complete technical solution.”

“Funing Capital?” Su Jianguo frowned. “That overseas fund that owns 30% of Ningyuan’s shares? What’s their background?”

"The background is very mysterious, and I don't know much about it either," Su Ning said. "But the technology is real, and we have already verified it. We have also produced laboratory samples, and their performance indicators are no less than those of imported products."

"What about the equipment?" Su Qing pressed. "The key equipment for photoresist production—high-precision mixers, nano-level filters, fully automated filling lines—can't be bought domestically at all. With foreign countries imposing embargoes on China, what are you going to do?"

“Funing Capital is in charge of resolving this,” Suning said. “They have already contacted suppliers in Germany and Japan, and the key equipment should be in place within a month.”

"A month?" Su Jianguo and Su Qing were both stunned.

This efficiency is highly abnormal.

Photoresist production equipment is a high-end manufacturing equipment with a complex procurement process and strict approval. It usually takes at least six months from order placement to delivery.

A month? Unless it was prepared a long time ago.

Of course, they are more inclined to believe that Suning was deceived, because it simply does not conform to common sense.

"What exactly is the background of that Funing Capital?" Su Jianguo became serious. "Su Ning, tell Dad the truth, have you been scammed? Some people specialize in packaging fake projects to cheat investors out of their money. A project like photoresist sounds like a scam."

“Dad, I’m not a three-year-old anymore,” Su Ning said earnestly. “The technology is real, the equipment is real, and the experts are real. Although Funing Capital is mysterious, they are very reliable. They helped vet the Zhiying Technology project, and you saw the result.”

"Hmph! Have you heard of the chip fraud case from 03?"

"Dad, you and my sister don't need to worry, I'm not stupid."

"Not stupid? If not stupid, would it be named Hanxin Materials? The fraud case in 03 was called the Hanxin Incident."

"So what? I'm not that Chen Jin."

“Suning, we have a deal. If you squander the 1 billion yuan, I will not invest another penny in you.”

"Dad, don't worry! I'm not the kind of person who's shameless."

These words made Su Jianguo hesitate.

Zhiying Technology made a good investment and is highly regarded in the industry.

"Who is the person in charge of Funing Capital? Can we meet him?" Su Qing asked.

“The person in charge is named Fu Yu. He is very low-key and never appears in public,” Su Ning said. “He said that their fund focuses on investing in cutting-edge technologies and doesn’t like to be ostentatious.”

"So mysterious..." Su Qing muttered.

“Sister, I know you’re worried about me,” Su Ning said, looking at her. “But this time it’s not a joke. Photoresist is a national strategic material; if we can make it, it will be of great significance. Besides, we have the technology, the funding, and the team, so why can’t we give it a try?”

Su Jianguo looked at his son, his heart filled with mixed feelings.

Suning's growth during this period has exceeded his expectations...

After resigning from Jin Chen Capital, he founded Ningyuan Capital, invested in promising projects, and is now venturing into photoresist...

Every step was taken steadily, and the results were all good.

But photoresist... that's taking too big a step.

“Su Ning, it’s not that I don’t believe in you,” Su Jianguo sighed and said slowly, “but the photoresist industry is too murky. The technical barriers are high, the market competition is fierce, and the policy risks are great. If it fails, the investment of over a billion yuan will be wasted. Have you thought it through?”

“I’ve thought it through.” Su Ning nodded. “Besides, we have a backup plan. If we can’t make photoresist, the factory can be converted to produce other specialty chemicals. That piece of land in Wuxi is valuable to begin with, so we won’t lose much.”

That's a very practical statement.

Su Jianguo felt a little relieved after hearing this; at least his son wasn't blindly optimistic and had considered the risks.

"Alright, since you've made up your mind, Dad won't say any more," Su Jianguo said helplessly. "If you need any help, just tell the family. Your sister has experience in manufacturing and can give you some advice."

Su Qing initially wanted to object, but seeing that her father had relented, she could only say, "I can help you with equipment procurement and factory construction. Don't get ripped off."

"Thank you, sis." Su Ning smiled.

"Oh, right," Su Jianguo suddenly remembered something, "that Fu Yu... you really don't know anything about him?"

"I really don't know." Su Ning said without changing his expression. "But I think sometimes it's not a bad thing for partners to be a little mysterious. As long as they can provide value and help us get things done, nothing else matters."

This sounds somewhat reasonable, yet it also seems strange.

Su Jianguo and Su Qing exchanged a glance, both seeing confusion in each other's eyes.

What exactly are the backgrounds of this Funing Capital and that Fuyu?
But they also knew they wouldn't get any answers.

Suning clearly didn't want to say more.

Perhaps... he really does have his own plans.

"Then be careful," Su Jianguo said finally. "In business, you can't be too careful."

"I know, Dad."

He understood his father's and sister's concerns.

But he couldn't tell them the truth, after all, Funing Capital was a front for Space World, Fuyu was Afu's alias, and the technical expert Zhao Liming was an AI robot.

Some secrets are meant to be known only to oneself.

The results from Hanxin Materials will surely impress everyone.

There are no secrets in the investment world.

The news that Ningyuan Capital had invested in photoresist quickly spread.

At first, no one took it seriously.

"Photoresist? Is that something you can just invest in casually?" a partner at a veteran fund said at a dinner party. "They've been doing this in China for years, but which one has actually succeeded? They're all just scamming subsidies, policies, and investors' money."

Someone nearby chimed in, "Exactly. Besides, how long has Ningyuan Capital been established? Just a few months, right? It's understandable for such a small fund to invest in medical AI, but investing in photoresist? Isn't that ridiculous?"

"I heard the boss is a rich second-generation heir named Su Ning, the son of Su Jianguo of the Jianguo Group," someone added. "He's probably just burning money for fun because his family is rich."

"Nine out of ten startups by the rich second generation are failures." Some people summarize, "Just watch, this project will fail in less than six months."

There's a general pessimistic sentiment within the industry.

The general consensus is that this is just a gimmick...

It's either to raise Ningyuan Capital's profile or to deceive the local government into giving them preferential land prices and tax breaks.

Anyway, nobody took it seriously.

But soon, news spread that Hanxin Materials had acquired 200 acres of land in Wuxi, with all the necessary permits and licenses in place.

"They really acquired the land?" Some people started to feel something was off. "Does acting have to be this convincing?"

Next, the design drawings were completed, the construction team arrived on site, and the foundation work for the factory began.

"Construction has started?" Many were surprised. "Is this for real?"

Then, the equipment delivery list quickly came out...

High-precision mixers and nano-level filtration systems, fully automated filling production lines... all are truly high-quality products.

"The equipment's all bought?" Even the most skeptical people started to waver. "How much did this cost?"

"The question is, how did they buy it?"

"Yes! Isn't critical equipment always under embargo?"

Then, job postings were released: recruiting chemical engineers, process engineers, quality control specialists... with salaries 30% higher than the industry average.

"They're already recruiting?" Rumors began to circulate within the industry. "What exactly is Ningyuan Capital up to?"

……

Three months later, Hanxin Materials' factory had taken shape.

The main steel structure is complete, the cleanroom is being renovated, and equipment is being delivered to the factory area one after another.

The Wuxi local government attaches great importance to this project. City leaders have visited twice and resolved many issues on-site.

When the news reached the investment community, the tide completely turned.

"Is Ningyuan Capital actually serious?"

"Not only were they serious, but they acted incredibly fast. From acquiring the land to building the factory, it only took three months. That's even more efficient than state-owned enterprises."

"I heard the technical team is very capable, led by a PhD who returned from overseas, and has complete formulas and processes."

"The funds are also sufficient. Ningyuan Capital invested 500 million yuan, and that mysterious Funing Capital directly provided key equipment."

"What exactly is this Funing Capital? I've never heard of them before."

"I don't know, their background is very mysterious. But judging from their posture, their strength is extraordinary."

Those who previously scoffed at Ningyuan Capital are now beginning to reassess it.

One investment firm that focuses on hard technology even sent people to Wuxi for on-site inspection.

Upon returning, they reported, "The factory standards are very high, the equipment is state-of-the-art, and the technical team looks very professional. They don't seem like dabblers."

"Where did they get their technology from?" the boss asked.

"They said it was brought in from overseas by Funing Capital. They're keeping the specific details confidential."

"Interesting." The boss pondered. "This Suning seems to be more than just a simple company."

……

In Ningyuan Capital's office, Wu Kezhi was reporting the progress to Suning.

"Mr. Su, the main structure of the factory building is complete, and the decoration will be finished next month. As for the equipment, the mixer and filtration system have arrived at the port. Dr. Zhao said that installation and commissioning can begin next month."

"Okay." Su Ning nodded. "What about talent recruitment?"

"We've recruited over thirty engineers, half of whom have industry experience and half are recent graduates. Dr. Zhao is organizing the training, and it's going well," Wu Kezhi said. "In addition, we've contacted several downstream chip manufacturers, and they are very interested in domestically produced photoresist and are willing to try our samples."

When will the samples be available?

"After the equipment is installed and debugged, it will be ready in about a month," Wu Kezhi said. "Dr. Zhao is very confident, saying that its performance will not be worse than that of imported equipment."

"That's good." Su Ning thought for a moment, "Mr. Wu, what's the industry's opinion of us right now?"

Wu Kezhi laughed: "From looking down on us at the beginning to not understanding us now. Many people can't figure out how a newly established fund like ours can make photoresist. Some even speculate that we have a powerful backer behind us."

"Let them guess," Su Ning said. "We just need to get things done and let the results speak for themselves."

Wu Kezhi nodded, "But President Su, I have a question... Is there really no problem with Funing Capital? The technology, equipment, and channels they provided have all gone too smoothly, almost unrealistically so."

Su Ning looked at him and smiled: "President Wu, sometimes things going smoothly isn't a bad thing. As long as the technology and equipment are genuine, and the product can be made, nothing else matters."

“I understand.” Wu Kezhi didn’t ask any further questions. “Then I’ll continue to monitor the progress.”

After Wu Kezhi left, Su Ning leaned back in his chair, lost in thought.

Nowadays, many people in the industry are keeping an eye on Ningyuan Capital and Hanxin Materials.

Some people are waiting to see the joke, some are waiting to copy the homework, and some are waiting to get a bargain.

We'll wait for the product to be released, for mass production to be achieved, and for the day when we break the foreign monopoly.

All doubts will turn into applause.

All ridicule will turn into admiration.

All he needs to do is follow the steps and take each one carefully.

The technology of the space world, Afu's resource integration capabilities, and a reliable team like Wu Kezhi.

All we need to do now is wait patiently.

Waiting for the factory to be completed, the equipment to arrive, and the products to roll off the production line.

Waiting for that moment when everyone will look at us with new eyes.

And that day is definitely not far off.

...(End of chapter)