Those Years When I Was Forced to Top the Forbes List

Chapter 410 Shareholders' Meeting Three-Tier Reversal

Xiao Chen's story is happening in many places.

Shanghai.

Guangzhou.

Shenzhen.

Tianjin.

The bigger the city, the more you can feel this breeze of the future.

Registered users from Weibo are like a star map, gradually illuminated by analyzing the origin of their phone numbers in the Qidian backend.

The online community has been discussing this extensively, but mainstream portal websites seem to have turned a blind eye and remained tacitly silent.

In the afternoon, at Dameisha Beach in Shenzhen.

Chen Xuebing was sitting on the shore taking a phone call when Lu Weibing across from him loudly reported information.

"Chairman! 38,000 registered mobile users! Almost 39,000!"

"There are still 20,000 users who haven't filled in their phone numbers!"

"19 visitors! One million comments!"

"9 posts were generated on Weibo!"

"This morning, the Kirin phone launch video got over two million more views, and JD.com saw an additional 10,000 pre-orders! All full-payment orders! The traffic generation effect is amazing!"

"Hmm." Chen Xuebing simply nodded. "This data shows that the proportion of mobile phone users is extremely high, which means that a large number of our users today come from SP SMS referrals. The Weibo feature has also activated the interest of most mobile phone users. There shouldn't be any problems with the backend, right?"

"No! Our official website backend is configured with a medium-sized server cluster. Weibo has been preparing for so many days, and we have a large number of backup servers in our data center waiting to be activated! There's no way there could be any problems!"

"Backend stability is key. No problems can occur during the promotion period. Weibo needs to continue to expand its team."

"Don't worry, we can handle another million! Your promotional strategy is excellent! And the timing is perfect! At this rate of user growth, our data will probably shock the internet by the next two weekend days!"

"Yes, that's for sure. We haven't started internet promotion yet, just to catch them off guard. It just so happens that the heads of major portals are coming to Shenzhen tomorrow to attend a meeting in Hong Kong with me. I'll just ask them, and even if they're having a hard time, they'll have to give me face and help us promote our products."

"Oh," Lu Weibing suddenly understood, and chuckled slyly, "So we really did attack Pearl Harbor?"

Chen Xuebing chuckled.

He had been planning and enduring for a long time for Weibo, and the timing of his launch was not simply to follow up with the previous weekend.

Starting tomorrow, the internet moguls will be spending three days with him in Hong Kong. First, he will physically sever part of the decision-making chain of major portals and blogs. Second, he will have plenty of opportunities to poach resources.

When a cooperation is proposed face-to-face, the opponent cannot immediately gather information to assess the risks, thus increasing his chances of success.

"TV and internet resources will be gradually integrated. You need to be able to handle the traffic. The celebrity interactions we've arranged need to be gradually heated up, and the stimulation needs to be given little by little. Control the pace and keep our users dazzled."

"No problem! We'll increase our advertising budget this weekend and aim for one million registrations!"

Lu Weibing felt that the time was right and that heaven and earth were working together for him. He was full of confidence and determination.

Today he truly felt the potential of this platform. Wherever the website's push notifications went, users' attention followed. In just half a day, it generated several trending topics with tens of thousands of comments, and even the sales of Qilin products benefited greatly. If this were used for advertising, what a feat it would be!

Once the user base grows, Weibo will become the most valuable advertising platform!
It can be said that Mr. Lu has already seen just the tip of the iceberg of the enormous role that Weibo can play.

Chen Xuebing actually knew what Lu Weibing was thinking. This CEO of Qidian had a short-sighted problem, caring about short-term gains and not suitable for long-term strategies. However, he also had strong drive and would pounce on any potential profit like a hungry wolf.

The group is currently lacking precisely this kind of person.

In terms of strategic planning, Lin Bin is much stronger, and his implementation ability is equally strong. He is suitable to be the company's chairman and work with Lu Weibing.

He can't hold the position of chairman of Qidian forever.

However, Lu Weibing is currently more comfortable using him and is more obedient than Lin Bin. His position does not need to be adjusted before Qidian passes the initial offensive phase.

That being said, these are all Lei Jun's men.
Chen Xuebing felt a little sad for President Lei, and said, "That's fine then. I'm waiting for a call, so I only brought one cell phone. Don't block my line unless it's important. Call me back tonight."

"Forehead"

Lu Weibing was a little surprised. Was there something more important than Weibo today?

Before the person on the other end could finish speaking, Chen Xuebing had already hung up the phone.

The shareholders' meeting was held in the multi-functional conference hall on the third floor of China Minsheng Bank.

On the stage sat several major shareholders, while the tiered seating behind them was packed with shareholders, analysts, and financial journalists from all over the world. The air was thick with the scent of high-end perfumes and coffee, but even stronger was the silent tension.

As Chairman Dong Wenbiao, who was presiding over the meeting, was about to announce the end of the vote, Ren Ying, dressed in a dark suit and carrying a briefcase, steadily walked to the podium under the watchful eyes of everyone.

"Distinguished directors, I am entrusted by the TMT Equity Investment Fund managed by Changzheng Capital to exercise my voting rights in this election." Ren Ying unfolded the authorization document, her voice clear and calm, "Based on the consideration of maintaining the stable operation of Minsheng Bank and the interests of its shareholders, all voting rights held by this fund will be concentrated on Mr. Liu Yonghao."

The expressions of the shareholders who had initially been confident of victory suddenly changed.

Changzheng recently bought nearly 2%, and they all know that.

However, Changzheng Investment has many targets and has never voted at any of their shareholder meetings. Lu Zhiqiang also confidently said, "At most, President Chen just knows that Liu Yonghao is going to be kicked out, so he comes in to participate. Supporting Liu Yonghao is not good for anyone, so he will not get involved in this family matter."

Chen Xuebing's plan is quite ambitious. He knows a little about it and probably just needs some funds, so he wants to take this opportunity to make some money for people's livelihood.

Liu Yonghao is stubborn and refuses to back down. Even major shareholders are having trouble making money, so how can Chen Xuebing manage?

At this moment, Chen Xuebing did something that was not in his best interest.

At this meeting, the voting rights of 43% of the shares "evaporated" due to no one exercising them, and the remaining vote pool shrank, increasing the actual weight of each 1% shareholding by 75.4%. 2% of the shares could now exercise almost 3.5% of the voting rights.

With that, plus the 31% that Liu Yonghao held at that time, the total exceeded 34%, and the situation changed drastically.

According to Article 103 of the Company Law, special resolutions such as amendments to the articles of association, capital increases or decreases, mergers or divisions must be passed by a two-thirds majority of the voting rights at the shareholders' meeting; other ordinary resolutions require a majority vote.

According to the Articles of Association of China Minsheng Bank, amending the Articles of Association and removing directors appointed by shareholder representatives require a special resolution.

Liu Yonghao now has the power to veto major proposals to remove him from his board seat.

At this moment, Liu Yonghao nodded slightly to Ren Ying, who came to provide support, to express his gratitude.

"Long March?" Lu Zhiqiang's face showed a hint of annoyance. He immediately raised his hand, "Wait a minute, let me call General Manager Chen!"

“No need.” Suddenly, a man stood up from the audience, picked up a document and went on stage. “I also have an authorization agreement here, representing the voting rights of a total of 2.8% equity stake in Baotou Beipu Industry, BJ Xintiandi, and Xishui Shares.”

Xiao Weihua, the cousin of Xiao Jianhua, the head of the Tomorrow Group, went on stage and handed the authorization document to Dong Wenbiao.

"On behalf of the three companies, I hereby cast this vote for Chairman Dong Wenbiao."

Upon hearing this, the reporters' cameras snapped photos, and Dong Wenbiao leaned back in his chair, a smile on his face.

Mr. Xiao is the most reliable. As soon as he heard that Changzheng had invested in Minsheng Bank, he rushed to acquire shares in the past few days and managed to get as much of the equity as possible.

Lu Zhiqiang, that idiot, actually believed that others wouldn't take action? In something like this, how could you hand over the initiative to someone else?
The atmosphere at the scene changed again. Someone was calculating that 2.8% of the votes had suddenly appeared in the abstention pool, and everyone's voting power increased but decreased to 67.2%, with the total voting power reduced to 95.3%. Liu Yonghao's side, which had 34.5% of the voting power, became 32.88%.

It's not enough to exceed one-third.

Everyone present felt that this was a delicate calculation, like walking a tightrope, with each shareholder frantically fighting for their rights.

Apart from Lu Zhiqiang.

He did nothing.

It feels like he's the only one being played by everyone sitting on stage right now.

Dong Wenbiao secretly conspired with others to acquire 2.8% of the shares without informing him.

His chest heaved, and his face was somewhat gloomy.

"Then let's recount the votes."

Dong Wenbiao realized that Lu Zhiqiang was somewhat dissatisfied, but he didn't pay any more attention to his attitude and said with a smile.

"and many more!"

The simultaneous opening of two voices on stage reignited the excitement in the audience.

Ren Ying and Liu Yonghao exchanged a glance, conveying the same message.

Do you still have cards?

That.
Should you do it, or should I?
Dong Wenbiao clenched his teeth.

It's over. Both sides have made extra preparations, and although President Xiao has done his best, it's probably too late to turn the tide.

At this moment, his mind started racing again, wanting Lu Zhiqiang to call Chen Xuebing.

Why is Mr. Chen so supportive of him?

After a moment of silence on stage, Ren Ying picked up her briefcase again and took out another document.

“On behalf of Ms. Yu Chunyan’s 0.5% stake in Minsheng Bank, I am submitting this investment to Mr. Liu.”

Liu Yonghao breathed a sigh of relief when he heard the figure of 0.5%.

Through weighting, this 0.5% of actual voting power can reach more than 0.8%, and with his portion added, it exceeds one-third again.

He was somewhat prepared, but not enough.

“I also have a 0.3% shareholder authorization here,” Liu Yonghao said.

Dong Wenbiao glanced at Xiao Weihua, who sighed and shook his head.

Really no more.

Mr. Dong quickly turned his gaze to Mr. Lu.

Call Chen Xuebing right now! I haven't announced that the meeting can be adjourned temporarily! There's still time!
The terms are negotiable!
Lu Zhiqiang sneered and stood up, saying, "I abstain!"

After saying that, he stepped down from the stage and left the conference room.

Whether Lu Zhiqiang renounces his shares or not will not affect the situation at this moment, but Lu's angry departure may indicate a change in the landscape of people's livelihood.

Dong Wenbiao had no choice but to announce in a more official tone that the resolution had not been passed, and thanked the reporters for attending.

The audience was already buzzing with discussion.

What a wonderful day!
2%, 2.8%, 0.5%, 0.3%—seemingly insignificant numbers—have shaped today's power struggle.

In fact, these figures are not insignificant when applied to Minsheng Bank's current market value of 1300 billion yuan.

In order to hold today's meeting, both parties increased their holdings of Minsheng Bank shares by 2.8%, amounting to 36.4 billion yuan each!
Total increase in holdings: nearly 73 billion!
This is going to be big news today.

Many reporters flocked to Ren Ying, ready to interview this new face of people's livelihood.

Ren Ying waved her hand to indicate that she would not accept it, and only looked at President Liu.

Liu Yonghao knew it was time for him to take charge, so he turned to his rival Dong Wenbiao and said, "President Dong, Mr. Chen from Gu'an wants to talk to you."

Dong Wenbiao maintained his composure with a calm smile: "Didn't President Liu win? What's there to talk about?"

With a hint of helplessness, Liu Yonghao snorted, "Let's talk about it. This is a big deal for people's livelihood. If it's not handled well, you'll have to resign. I don't want to see this situation either."

Dong Wenbiao felt a chill run down his spine.

A few minutes later, in the chairman's office of Minsheng Bank.

"Ms. Ren, please thank Mr. Chen for me."

"Mr. Liu, you're too kind. Our chairman promised to help you secure 4% of the voting rights, and he will definitely keep his promise."

Liu Yonghao and Ren Ying spoke in hushed tones.

Even Xiao Weihua was present, waiting for Dong Wenbiao to finish a phone call.

Dong Wenbiao stood by the window, listening quietly to the phone call, his mind buzzing.

The voice on the other end was very calm.

"If Mr. Xiao of Tomorrow Group increases his holdings again, it will probably be difficult for him to clean up these related loans now, or he may not be able to clean them up at all, which is why he is so afraid of me entering Minsheng Bank?"

"If Mr. Xiao didn't tell you about my grievances with him, then your cooperation can't be considered honest."

“Mr. Dong, he is a private shareholder, while you are a professional manager who joined Minsheng Bank at the invitation of Mr. Shuping and represents the interests of the private capital community. You are not a shareholder yourself. If something goes wrong, your future career prospects may come to an abrupt end.”

After a few threatening remarks, Chen Xuebing's tone became more official.

"The Tomorrow Group's illegal operations have jeopardized the overall security of the bank. If its influence continues to grow, everyone's core assets will be at risk. I am trying to stabilize the situation, not create chaos. What I need is your support for increasing our shareholding to 10% and nominating a director."

"In addition, please inform Xiao Jianhua that Tomorrow Group's illegal shareholding must be reduced to below the disclosure threshold. Otherwise, once I investigate and report to the China Securities Regulatory Commission, it will not be considered a voluntary reduction in holdings."

Dong Wenbiao's face darkened. He turned to look at Xiao Weihua and muttered "idiot" under his breath.

Such a big thing, and they actually managed to get hold of it!

Then he glanced at Liu Yonghao and cursed as well.

Drive the tiger away to devour the wolf! Drive the tiger away to devour the wolf!
Wolves are not to be trifled with, but are tigers easy to mess with?
Do you think they came in to help you?
"President Chen, I will investigate this matter." Dong Wenbiao adopted a righteous and upright attitude, and his voice became louder. "I am not too clear about these illegal loan materials in your hands. It is normal for our lending procedures to be more lenient than those of the four major banks. I don't think it is necessarily illegal, right? Is there some misunderstanding? President Chen, you are now a shareholder of Minsheng Bank. Can you hand them over to us for verification? It's all for everyone's good."

These words made Xiao Weihua's expression change; he already knew what was going on.

Chen Xuebing was indeed well-prepared.

It seems that the 6 million yuan guarantee debt hanging over Xinhua Trust must be used as leverage.

Chen Xuebing on the other end of the phone laughed: "President Dong, even if I give you the materials, Xiao Jianhua can't fill this hole. Even if he transfers money from elsewhere to balance the accounts, it will create an even bigger funding gap. He will come to you again and ask for even bigger things. With me, a shareholder, watching over things, you won't be able to approve it so easily. If he can't get money from Minsheng, he will have to withdraw his shares to supplement cash flow, and he will have to withdraw completely. President Dong has lost a great helper. Once the situation changes, the next election might see President Liu propose to remove the chairman. Why bother?"

With the words spoken so plainly, Dong Wenbiao closed his eyes and racked his brains but still couldn't find a solution, and sighed.

With so many stocks in hand, and now he's increasing his holdings, it's not something he can sell quickly. The best-case scenario would be if he could find funds elsewhere to cover the shortfall. If he can't, then...
The China Banking Regulatory Commission intervened, forcibly liquidating illegally held positions, causing the stock price to plummet.

It's hard to say whether it's a civil or criminal case.

"Mr. Chen, the purpose of running a commercial bank is to generate profits for shareholders. Even if you join the board of directors, everyone must adhere to this principle."

The word "even if" in this sentence indicates a concession.

"Must persist" indicates a test.

If we put you on the board of directors, would you support related-party loans that "represent shareholder returns"?
“I have made my conditions very clear, and these are the only conditions. There are no other conditions. My vote on the board of directors is usually abstaining because I am not involved in actual management. Of course, I will still support Mr. Liu in the management team.”

Chen Xuebing proposed three conditions: increase his shareholding to 10%, nominate a director, and reduce Tomorrow Group's shareholding to below 5%.

The board does not vote on routine resolutions, but only on matters concerning changes in management.

Even if Liu Yonghao were to become vice chairman again after the reshuffle, he could at most contact two of the nine shareholder directors, and with his own votes, he would only have three votes, making it difficult to stir up any trouble.

But this makes Lu Zhiqiang's two votes crucial.

It seems I offended Mr. Lu today; I need to mend our relationship.

After some deliberation, he decided to stall for time: "President Chen, this is such a big matter, could you please take some time to meet with Minsheng Bank? If my personal shareholding reaches 10%, I will become the largest shareholder of Minsheng Bank. This is not something I can decide on my own. Everyone must agree, and we also need to report to the China Banking Regulatory Commission and obtain permission."

Holding 10% of the shares certainly doesn't mean being the primary decision-maker, but it does mean being the person listed first on the publicly disclosed shareholder list.

Chen Xuebing needs this.

"Of course, I have some business to attend to in Shenzhen. I'll talk to you again after May Day when I get back."

"Ah."

Dong Wenbiao hung up the phone and glanced meaningfully at Xiao Weihua.

"Mr. Chen wants to become the largest shareholder of Minsheng Bank. He plans to first investigate any illegal shareholdings that exceed the threshold for disclosure, and then report them to the China Securities Regulatory Commission for forced liquidation."

He no longer wanted to share any information with Tomorrow Group, but he couldn't keep it from Xiao Jianhua, so he spoke openly to Liu Yonghao and Ren Ying.

Xiao Weihua narrowed his eyes, then smiled openly and asked, "Our companies collectively hold 4.8% of the shares. Feel free to investigate! Is that all Mr. Chen wants to investigate? Nothing else?"

This statement seems to indicate an attitude.

As long as no other investigations are conducted, we will hold 4.8% of the shares.

Dong Wenbiao chuckled: "I hope so, then there's nothing else to it."

Liu Yonghao's face darkened, which seemed to indicate that Chen Xuebing would not oppose the related-party loan.

Ren Ying was also quietly observing the behavior of the old foxes.

After the chairman forcefully intervened, she managed to quickly reach a delicate balance with the shareholders of Minsheng Bank, leaving none of them able to make a move. This is definitely a lesson she should learn from.

(End of this chapter)