Entertainment mogul: Starting his business with the internet

Chapter 523 Sweeping the Globe
Chen Deming looked helpless. In the banking industry, the thing he feared most was seeing his clients' investments suffer losses.

Liu Shishi immediately wilted, leaning against the back of her chair, feeling as if her heart was bleeding.

She sold her courtyard house to buy gold, hoping to preserve and increase its value. However, she lost 50 million yuan in just one and a half years, which made her wonder if she had been too wasteful.

Seeing Liu Shishi looking dejected and listless, Chen Deming feared that this big deal to acquire ATV would fall through, so he quickly lowered his voice and comforted her:
"Mr. Liu, fluctuations in gold prices are a normal market phenomenon! Last year, the nationwide gold rush by 'Chinese aunties' led to a 58.68% surge in domestic gold demand in the short term, which severely overdraws the potential for future growth."

The combination of factors, including changes in market supply and demand this year and signals from the Federal Reserve to reduce the scale of quantitative easing, has led to a correction in gold prices.

However, from a long-term asset allocation and value preservation perspective, gold remains a reliable choice to hedge against inflation. The gold you hold will inevitably appreciate in value in the future.

After hearing this analysis, Liu Shishi forced herself to cheer up and, with a humble attitude, asked:

"President Chen, you are a professional in the financial field. In your opinion, is the current gold price already at a low level?"

“This…” Chen Deming felt a tightness in his heart as he felt Liu Shishi’s eager gaze.

After weighing the options for a moment, I finally gritted my teeth and made a rather risky personal judgment:

In my humble opinion, gold prices are indeed at a relatively low level, and there is limited room for further decline!

"Alright!" Liu Shishi made up her mind, her gambling instincts kicking in. "Since that's the case, I've decided to invest heavily in gold and buy a large batch!"

Chen Deming coughed lightly, skillfully steer the conversation back on track: "Mr. Liu, if you have any intention to increase your gold holdings, Standard Chartered is ready to provide you with the necessary assistance."

However, regarding the acquisition loan matter I just mentioned, what do you think…?

Liu Shishi then came to her senses and smiled sheepishly: "I'm sorry, President Chen, I just got carried away and the topic got off track."

Regarding the loan, let's proceed as previously discussed and use the ATV shares to be acquired in the future as collateral.

She had originally intended to use gold as collateral, but seeing the price of gold shrink and the valuation greatly reduced, she simply decided to avoid the trouble and directly pledge ATV shares, which also made Standard Chartered Bank more dedicated in handling the debt restructuring.

“Okay, I understand.” Chen Deming straightened up and resumed his serious and professional demeanor. “President Liu, since you just mentioned wanting to reduce debt, we can try to do so.”

Typically, for this type of debt restructuring coordination service, our bank will charge a success fee based on the expected outcome. The specific details are as follows:
If the debt is successfully reduced by HK$5000 million, our bank will charge a success fee of 4% of the amount saved; if the reduction reaches HK$1 million, the success fee will be 8%.

If we can reduce the amount by 200 million or more, then we will charge 12%. What do you think?

After a moment's thought, Liu Shishi felt that the plan was well-structured and the incentives were effective, so she nodded in agreement: "It's very reasonable, we can proceed accordingly."

“In addition, there is one more point,” Chen Deming continued, “Standard Chartered Bank played a triple role in this transaction: merger and acquisition financial advisor, financing provider, and debt restructuring coordinator.”

Based on this integrated service, a 3% overall transaction fee will be charged to you as a coordination service fee.

"Sure!" Liu Shishi readily agreed, but then her tone shifted, her gaze sharpening. "Charging is naturally not a problem!"
However, as the acquisition intermediary, Standard Chartered Bank must assume corresponding responsibilities and conduct comprehensive and prudent legal due diligence!

Her voice was firm and unquestionable: "This includes, but is not limited to: confirming the validity and transferability of ATV's television broadcasting license;
Verify the ownership of their main assets, such as properties, film and television copyrights, and artist contracts, to ensure they are clear and free from any mortgages or restrictions.

Standard Chartered Bank will be liable for any losses incurred due to oversights in its due diligence process.

Knowing this was a crucial clause, Chen Deming responded cautiously: "President Liu, please rest assured!"
Standard Chartered will definitely hire top-tier law firms and accounting firms to conduct due diligence, striving for absolute certainty and leaving no room for error.

After a brief pause, another clause was quickly added to clarify the boundaries of responsibility:

"Your acquisition of ATV involves a cross-border transaction and requires approval from regulatory authorities such as the Hong Kong Communications Authority. It also requires approval or filing from the National Development and Reform Commission and the Ministry of Commerce in mainland China."

Such regulatory approvals are subject to policy changes and numerous external factors, which are beyond our control. Standard Chartered Bank cannot provide guarantees regarding this aspect of the risk.

Liu Shishi remained silent for a while, knowing full well that what was said was true, and then said, "I understand. As for the regulatory approval issues, we will proceed according to the normal procedures first."

If we encounter any obstacles or get stuck at a certain stage, I will find another way to overcome them.

"Good!" Chen Deming breathed a sigh of relief when he saw that Liu Shishi was understanding and did not dwell on the difficult points.

"If you have no other requirements, I will go back and finalize the formal contract terms as soon as possible and coordinate with your team."

Liu Shishi rose gracefully, extended her right hand, and smiled: "Looking forward to a successful collaboration with Standard Chartered!"

Chen Deming quickly stood up, politely shook Liu Shishi's hand, and then quickly withdrew it: "It's a pleasure to cooperate with you, Ms. Liu! I will certainly live up to your expectations!"

Liu Shishi had just escorted Chen Deming to the door of the lounge when the two exchanged a few more pleasantries before saying goodbye.

Just as he was about to turn around and head to the film set, he saw his assistant, Su Xiaoxiao, running over from not far away in a panic, her forehead covered in fine beads of sweat, and her breathing rapid.

"Senior Sister, something terrible has happened!" Su Xiaoxiao shouted breathlessly, grabbing her sister's sleeve, her voice trembling noticeably.

Upon seeing this, Liu Shishi felt a flicker of surprise, but she remained composed: "What's the matter that you're so alarmed?"

"Sis, look at Weibo!" Su Xiaoxiao said breathlessly, "It's a world-shaking event, and... and it might involve President Song!"

Upon hearing that it concerned her husband, Liu Shishi's heart sank, and her composure vanished instantly.

Without saying a word, she lifted her skirt and quickly returned to the lounge, picking up her phone directly from the table.

As you swipe across the screen, the top three trending topics on Weibo are "PRISM program", "US spying on the world", and "no privacy in the digital age", each followed by a bright red "hot" tag.

This sight made her gasp in shock.

Without hesitation, I clicked on the first entry and eagerly scanned the report content.

It turns out that not long ago, The Washington Post and The Guardian simultaneously revealed that the US NSA and FBI had launched a secret surveillance project codenamed "PRISM" as early as 2007.

The report points out that these organizations directly access the central servers of international internet companies, wantonly mining data and collecting intelligence, with nine international internet giants, including Microsoft, Yahoo, Google, and Apple, participating.

The report further revealed that the surveillance targets included any users of these services outside the United States, and even U.S. citizens communicating with people abroad.

The NSA can easily obtain large amounts of personal chat logs, stored data, voice communications, file transfers, and personal social network information...

After browsing through the document, Liu Shishi understood the true nature of the "PRISM program".

This is clearly an unprecedented form of surveillance conducted by the United States, with the help of internet giants, over the entire world.

Her slender fingers trembled slightly, and a chill ran through her. She involuntarily thought of Tengda Technology, the company her husband, Song Ci, had founded. Its flagship products, WeChat and Wechat, were among the world's leading instant messaging software, boasting a user base of two billion.

Although Tenda Technology has not yet been mentioned in the reports, given the magnitude of this globally impactful event, it is unlikely that a large and influential company like Tenda can remain unscathed.

Suppressing the pounding in my heart, I continued scrolling through the Weibo comment section. The comment section was already buzzing with activity, a plethora of opinions emerging:
"The PRISM program has confirmed the worst suspicions: our emails, chats, videos, social relationships... all our digital footprints are being monitored in real time."

This is no longer a misuse of commercial data; it is a state-sponsored, systematic digital espionage operation.

"Is this list of nine companies complete? Why aren't Twitter and Tenda listed?"

"I just finished a video call with a friend overseas on WeChat... and now I feel terrible. I'm hiding under the covers, shivering."

"It's terrifying to think about! Just think about it, Tengda Technology's WeChat and Wechat have two billion users worldwide. With such a large scale, it's bound to attract attention. Can it really stay out of it?"

Looking at these comments, Liu Shishi's expression grew increasingly serious. She bit her lip lightly, her eyes filled with worry.

As a small woman, I feel utterly powerless in the face of this global horrific upheaval.

At this moment, all she could do was silently pray for her husband, who was far away on the other side of the ocean, hoping that he could turn danger into safety and safely weather this sudden storm.

Outside the window, dark clouds had gathered in the sky above Hengdian, and lightning flashed across the sky, signaling an impending summer downpour.

Almost simultaneously, Tenda Technology's headquarters had already entered a full state of emergency.

The atmosphere in the top-floor conference room was incredibly oppressive.

Around the circular conference table, all the core executives in Beijing sat upright, while CEO Zhang Yong, with a somber expression, presided over this emergency meeting, having been appointed to the task in a time of crisis.

"Have you managed to contact Chairman Song?" Zhang Yong asked anxiously, turning directly to the COO in charge of external communications.

Wang Jing slowly shook her head, her expression equally grave: "The chairman is currently on his private plane over the Pacific Ocean, and we still cannot make contact with him."

"Bang!" Zhang Yong slammed his fist on the heavy solid wood table, making the cups and saucers rattle softly.

Just at this critical juncture, the "PRISM program," a major event that could shake the global technological landscape, broke out. Meanwhile, the group's leader was out of contact with anyone, leaving him extremely anxious.

Taking a deep breath, he suppressed his anxiety and unease, knowing that with the chairman absent, he, as the group's CEO, had to shoulder the responsibility of turning the tide and could not afford to lose his composure.

"How's the online public opinion?" he asked again in a deep voice, his tone now more composed than usual.

“It’s completely out of control,” a public relations executive said urgently. “Weibo, forums, and major news apps are all talking about Prism and the company.”

Numerous netizens flooded the official account, demanding a clear explanation from the company regarding data security and user privacy, their emotions running high.

Upon hearing this, Zhang Yong couldn't help but purse his lips, a hint of helplessness and indignation in his voice: "Netizens are just talking nonsense!"
WeChat and Weibo servers are both located in the country and are strictly protected by Chinese laws and regulations.

Even if the US has all the power in the world, can it really cross the Pacific Ocean and reach into our data centers?

After a brief moment of contemplation, he made a decisive decision and gave a clear instruction: "Nevertheless, appeasing the people and stabilizing domestic public opinion is the top priority."

The group must immediately release an announcement regarding its firm commitment to protecting user privacy and data security, using resolute wording and a clear stance.

Liu Yan, your Weibo team should handle this immediately, and quickly!

"Understood!" Weibo President Liu Yan stood up immediately without hesitation and quickly left the conference room.

At this moment, Zhang Yong forced himself to calm down completely, his brain was working at high speed, and his thoughts became clear.

His gaze shifted to Wang Jing, and he continued his methodical deployment: "Ms. Wang, what's the situation in North America and overseas markets? How much has WeChat been impacted?"

“The situation… is not optimistic.” Wang Jing’s answer was heavy and cautious. “Although the currently disclosed documents do not directly mention WeChat.”

However, as the instant messaging software with the highest market share in overseas markets, it is naturally in the eye of the storm.

Currently, Western media and users are generally skeptical, simply not believing that WeChat can remain unaffected by this global surveillance program. A crisis of trust is spreading.

Zhang Yong frowned even more deeply and pressed a key figure for an answer: "What did Wilson, the head of WeChat North America, say? What's his plan?"

“He spoke evasively and vaguely during the conversation, without giving a clear explanation. He only said that everything would have to wait until Chairman Song’s flight landed, and he would personally report to Chairman Song.”

Did WeChat participate in the "PRISM" program? If so, was it Wilson's personal action, or did it receive the chairman's tacit approval or even instructions?

This thought, like a ghost, instantly haunted the minds of every executive in the meeting room, casting a heavy shadow over them.

This matter has far-reaching implications. If handled improperly and any unfavorable accusations are substantiated, Tenda Technology's hard-earned overseas business empire could face catastrophic collapse.

The atmosphere in the meeting room grew increasingly oppressive, like the deathly stillness before a storm.

Just as Zhang Yong cleared his throat and prepared to deploy the next countermeasure, the phone on the table suddenly rang urgently.

Looking down, he saw a specially encrypted number. His heart tightened, and he dared not be negligent in the slightest. He immediately raised his hand to signal the meeting to pause and quickly answered the phone.

"Hello, is this Zhang Yong from Tengda Technology?" A remarkably calm and composed voice, devoid of any emotional fluctuation, came from the receiver.

"This is Zhang Yong. May I ask who this is?"

"I am Security XXX," the other party stated succinctly, "Regarding the Prism program that has been exposed by the media, the leadership has some important questions to understand."

I originally intended to inquire with your company's Chairman, Comrade Song Ci, but he is currently on his private jet. Therefore, I can only ask you to come over immediately so I can explain in person.

Zhang Yong's heart skipped a beat, and he immediately replied, "Yes, I understand! I'll set off right away!"

The other party added, "If it's convenient, please have the person in charge of the core technology or operations of your WeChat business also come along."

“Okay, no problem! We’ll arrange it right away!” Zhang Yong agreed without hesitation.

After the phone call ended, everyone in the conference room focused their attention on Zhang Yong.

He abruptly stood up, his gaze sweeping over everyone present before finally settling on Wu Yi, the president of WeChat: "Wu Yi, come with me! Immediately!"

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(End of this chapter)