A song from Chengdu revived a closed-down pub.

Seeing the name on the caller ID, Su Fan's lips curled into a smile: "Finally here?"

The two have been on the phone together during this time.

Sun Zheng didn't hide his plans from Su Fan.

The call connected, and Su Fan asked with a smile, "Mr. Sun, what made you suddenly decide to call me?"

Sun Zheng said, "I have already taken care of everything you asked me to do."

Su Fan was taken aback: "What is it?"

There was a brief silence on the other end of the phone.

Sun Zheng immediately wore a constipated expression.

During this period, he was extremely busy selling shares, cleaning up relationships, and inspecting companies.

It was only with great difficulty that everything was finally sorted out.

When it came to Su Fan, he had completely forgotten what he had been told.

Sun Zheng took a deep breath, forcibly suppressing his anger: "I've already withdrawn from Beifeng Entertainment, and I've basically cleared out all my shares, except for a small amount that's inconvenient to deal with for the time being. What, you forgot what you said so quickly?"

Su Fan's tone carried a hint of surprise: "How could I forget? Mr. Sun, your execution is impressive. You're really willing to abandon a company you've built up over so many years?"

Sun Zheng leaned back in his chair, his expression somewhat complicated: "What can I do even if I'm reluctant? With you, this wolf, watching over me, I can't sleep or eat in peace."

Su Fan didn't continue teasing.

It's not as simple as just talking about giving up a company you've run for many years.

The fact that Sun Zheng was able to make a decision so quickly proves that he is not someone who only hesitates and looks back.

A moment later, Sun Zheng suddenly asked, "I've withdrawn as you said. What are your plans regarding North Bee Entertainment?"

Su Fan made no attempt to hide his intentions: "Didn't I tell you before? Of course, it's about giving them a taste of their own medicine."

"Then why haven't you made a sound?"

"It's not the right time yet."

The reason Su Fan didn't take action against Beifeng Entertainment was because Tengfei Group itself had a lot of troubles.

He wanted to wait until Tengfei Group was on the right track before having Tengfei Group take the lead in targeting Beifeng Entertainment.

Su Fan didn't elaborate, and Sun Zheng didn't press further. Instead, he changed the subject: "There's one more thing. I acquired an animation company called Shan Hai Pictures."

Su Fan's voice immediately became more serious: "How's the company doing?"

Sun Zheng opened the documents in front of him and gave a brief introduction to the company.

After listening, Su Fan asked, "Did you retain the core team?"

"They've all stayed. I didn't fire the original founders; I kept 20% of the shares for them. They're still in charge of production. I've bought the company, and the people are staying. Now, you should give me a definite answer about what to do next, right?"

Although Sun Zheng suffered a lot at Beifeng Entertainment, he had at least worked in the industry for many years.

He knew very well that what was truly valuable about an animation company was never the office, computers, and equipment, but the people who could actually get the projects done.

As long as the core team remains intact, this company still has a chance to rise again.

Having understood the company's situation, Su Fan said, "Now that we have the people and the company, let's talk about shares. What are your thoughts, Mr. Sun?"

Sun Zheng shook his head with a wry smile: "I even withdrew from Beifeng Entertainment, and now I've acquired the animation company according to your wishes. I'm already tied to you in the same boat. Tell me how you plan to arrange things. As long as it's not excessive, I'll accept it."

"Then I won't beat around the bush. I have two plans here." After organizing his thoughts, Su Fan directly stated the first arrangement: "The first plan is the simplest traditional equity structure. The original core team retains 20%, you take 25%, and I take 55%. The money you invested in acquiring Shan Hai Pictures will be recalculated by a third party. It will either be converted into your shares or compensated by the company's subsequent financing. You won't suffer a loss for nothing."

Sun Zheng didn't rush to give a response, but instead grasped the key point: "What can you offer if you take 55%?"

Su Fan understood that he was talking business and showed no dissatisfaction: "Shanhai Pictures will be responsible for the production of mature content projects, subsequent funding, publicity channels, broadcasting platforms, as well as film, games, derivatives and offline licensing related to the works. However, it will not just be an outsourcing company that does work for others in the future, but will become a core link in the entire content chain."

If it were anyone else, trying to take 55% of the shares just by talking, he would have kicked them out long ago.

But when these words came out of Su Fan's mouth, they carried a completely different weight.

Sun Zheng pondered for a moment, then asked, "What about the second set?"

"The second approach is to no longer distribute shares and then leave them to their own devices, as is the case with ordinary companies. Instead, we will adopt an employee stock ownership plan to build a new internal incentive mechanism."

"How does your proposed employee stock ownership plan differ from the current practices?"

Su Fan explained, "Control and major decision-making power at the company level should still be centralized. We can't let too many shareholders lead to everyone having the final say. However, economic benefits can be more tilted towards those who truly create value. Specifically, we will establish an employee stock ownership platform. You, the original founding team, and the core directors, screenwriters, animators, and technical backbone who join the company later can all obtain corresponding internal shares based on their input, position, and actual contributions."

……

Su Fan explained Huawei's equity structure on Earth to Sun Zheng.

Actually, this wasn't the first time Su Fan had used this method.

This equity structure is also used on the NetEase Cloud Music platform.

After listening, Sun Zheng did not immediately express his opinion, but instead began to think about it seriously.

Compared to the first clear and straightforward equity structure, the second plan is significantly more complex.

It involves not only equity, but also employee stock ownership platforms, share pricing, repurchase mechanisms, performance evaluation systems, and management elections.

Any misdesign in any aspect could leave hidden dangers in the future.

But Sun Zheng also understands that once this system is truly established, it is likely to create a very strong attraction for talent.

He had thought that Su Fan would at most offer an animation project, and then they could discuss how much of a share each would take.

Only now did he realize that what Su Fan really wanted to do was not to make money from a single work.

His goal was to build an animation company from the very beginning that could continuously attract talent, consistently produce content, and even have its own vitality.

After a long while, Sun Zheng finally let out a sigh of relief: "These two plans are too different. I need to consider them carefully. In addition, the second plan involves too many things. I need to find a professional to do the calculations and see how to implement it in practice."

Su Fan didn't urge him: "Of course. Even brothers have to settle accounts when it comes to shares. Take your time to think it over. I can send you the framework of the two plans first."