December 26, Sunday afternoon at 12 pm, Shougang headquarters building in Shijingshan.

On the eighth floor, in the Strategic Development Department, Minister Zhou Kang organized a meeting regarding the disposal of Shougang Electric's assets. Attendees included representatives from the Legal Department, the Engineering Coordination Office, the Shijingshan Industrial Park Management Committee, and members of the Strategic Development Department itself, totaling about a dozen people.

Director Han from the Legal Department, who had worked at Shougang for twelve years, was also there. Old Zheng, the director of the Engineering Coordination Office, was also present; Chen Jianguo was one of his subordinates. The Shijingshan Industrial Park was already quite familiar with Chen Yiran, having previously helped Wanguoyuan with its expedited business registration process.

Minister Zhou opened the folder and spoke his first words.

"You all know Comrade Chen Jianguo, right? He's from the project coordination office. And you definitely know his son even more; you've probably seen all the news about him these past few days."

Old Zheng, the director of the project coordination office, immediately chimed in: "I originally wanted to bring Old Chen today, but he insisted on avoiding any appearance of impropriety and refused to come no matter what."

No one else in the meeting room spoke up. In a meeting of more than a dozen people, only three or four people could actually speak.

The legal department and the park management committee have already received the news and know that this matter is bound to succeed. They are just waiting for President Zhou to finish speaking.

Minister Zhou said with a smile, "His son, Chen Yiran, the one who works in semiconductors in the United States, made big news in the first half of the year."

These past two days have gotten even more outrageous; you could say he's become famous overnight. His company, located in the industrial park, has now approached him, hoping to take over Shougang Electric Vehicles.

Director Han of the legal department knew he had a task, and very professionally began to flatter him: "We only have 49.7% of the shares. The actual major shareholder is NEC Electronics, although they merged with another company this year and are now called Renesas Electronics. How does Chen Yiran plan to take over? Even if we agree, it depends on what the Japanese side thinks."

Minister Zhou waved his hand, and his secretary handed out several sheets of paper to everyone.

"He said he could resolve the 50.3% that Renesas held. Shougang Electric's technology is outdated and it's barely surviving; Japan doesn't seem to care enough about it. A few years ago, we tried to improve our processes, but they ultimately didn't agree."

According to our joint venture agreement, we will be able to buy the entire company back in 2013, at a much lower price. Chen Yiran should have little trouble negotiating with us now.

Nearby, an employee from the strategic development department observed the situation and began his performance.

"Minister, although Shougang Electric has been struggling these past two years, it's partly due to an overstaffed workforce and outdated technology. If Chen Yiran takes over, how will the resettlement issues be handled? Will he lay off employees? Won't that have negative repercussions?"

Furthermore, upgrading the production line requires massive investment. How much capital do we need to match? Wafer fabs are bottomless pits; do we have the budget? If not, will our shareholding be significantly reduced?

Minister Zhou spoke clearly and distinctly: "First of all, this is not simply about replacing foreign capital with Chen Yiran. The factory is in a very bad situation right now; it hasn't undergone any technological upgrades for over a decade. Since the year before last, a large number of Japanese technical personnel have withdrawn. Simple upgrades are no longer sufficient to make the factory competitive."

Our current idea is to convert the existing land and factory buildings into shares and incorporate them into Wanguoyuan. Wanguoyuan has just received a large sum of cash and will have a stable cash income for the next three years. This money can then be used to upgrade our processes.

Chen Yiran has already said that he wants to build a 12-inch production line! That's a truly advanced process, completely different from the low-end products that NEC is currently producing.

To be honest, the land and factory buildings, when converted into monetary value, aren't much. Our factory buildings are built to 6-inch standard specifications. They don't even meet cleanroom standards or earthquake resistance levels. If you really want to put it in numbers, it's barely five percent. But Chen Yiran is, after all, a child of a factory owner.

"They've already agreed; they'll give us five percent of the shares. Five percent! This isn't some old-fashioned industry like ours. This is a company whose technology even Americans are willing to pay for."

Zhao Rui, who had just been promoted to director of the Shijingshan Park Management Committee, chimed in: "I've had contact with Wanguoyuan. They're a truly high-tech company, very powerful. Chen Yiran has already spoken with us."

Not all employees will stay, but the issue of employee resettlement will be handled properly. We won't be offering the basic compensation; everyone will receive 2N+3 compensation.

The meeting proceeded very smoothly, lasting for half an hour.

Minister Zhou only announced the end of the meeting after ensuring that there were enough meeting minutes.

The employees left the meeting room in droves, leaving a few managers chatting behind closed doors in their offices.

The atmosphere softened at this point. Minister Zhou lit a cigarette and said, "Old Zheng, talk to Old Chen later and tell him to get this sorted out as soon as possible, preferably before the New Year."

Old Zheng lit a cigarette: "Definitely, I'll keep urging him. Old Chen is really lucky to have such a good son. You know, he went to elementary, middle and high school in the same place, how come my son only got a low score on the second-tier university entrance exam?"

Director Han took a sip of tea and asked in a low voice, "Should I ask them for the planning document in advance? If we review it beforehand, we can hand it over once things are settled in Japan and with the Human Resources and Social Security Bureau."

Minister Zhou replied quietly, "Definitely, just speed it up like crazy. Originally it was Manager Wang's job, but now Secretary Zhu is directly handling it. Otherwise, why would I be in such a hurry? Wouldn't it be better to have you all work overtime today and hold a meeting tomorrow?"

Old Zheng was taken aback: "Is it that important? I thought the Party Secretary was only concerned with placement matters these days."

Minister Zhou sighed: "The resettlement is definitely the most important thing. The resettlement of 100,000 people is a political task."

However, Chen Yiran's arrival to take over NEC should at least stabilize morale. Otherwise, we look like we're on our last legs; just look at our previous investments.

Needless to say, Nippon Electric is finished, Huaxia Semiconductor is gone, and Yaskawa, that robotics company, only uses us as assembly plants. None of our non-steel industries have fared well.”

Director Han said in a low voice, "It's all just to reach the 50% figure. It's completely unreasonable. Our steel mill is forcing us to engage in non-steel industries."

Old Zheng shook his head and said, "In the past, our steel profits could support these companies, give them a show of strength, and see which one could rise to prominence. Now that steel production has stopped, they're all showing their true colors."

Let me tell you, the Shijingshan District government is even more anxious than we are. The investment attraction efforts for the factory area are going very poorly right now; there's absolutely no hope. I've heard they've roughly calculated that in the next two years, Shijingshan might even fall behind Fangshan."

The conversation grew increasingly somber, as if the place they had dedicated their lives to was about to fall into silence.

Minister Zhou suddenly slammed his hand on the table: "Withdraw, withdraw! Stop talking such discouraging things. It's not like there's no hope. Look at Chen Yiran, for example. We Shougang's children are bound to produce some talented individuals. Go back and give your kids a good talking-to."

Director Han, who was quite familiar with him, chimed in, "You're still pushing him? Your son's academic performance is so poor that he can only try to get into a sports school. What good will pushing him do?"

Minister Zhou ignored him and walked out of the meeting room first. Before leaving, he said to Lao Zheng, "Go and inform Lao Chen, and have him tell Chen Yiran about the situation."

-----------------

At 7:30 p.m., the CBA game between Beijing Shougang and Jiangsu was being broadcast on TV.

Chen Yiran and his father each held a bowl and ate noodles with soybean paste in front of the television.

While eating, Chen Yiran complained, "I feel that the green bean and pork rib noodles you made before were much tastier. How can you be so lazy? You didn't even bother to make that for your son. And you didn't even put any vegetables on the noodles with soybean paste, you just gave me a cucumber to eat."

Mr. Chen kept slurping his noodles without answering.

"If you don't answer, I'll just tell my mom anyway."

"You unfilial son! You can just make the soybean paste however you like, but you have to pick and clean the green beans for the green bean noodles, it's so much trouble." (In northern China, "zhai" means washing, including removing the stringy fibers from the green beans.)

"Why isn't my mom back yet? I'm definitely going to tell on her."

"Your mother just doesn't know how to enjoy life. The family has so much money, and she doesn't even know how to relax. What's with all this New Year's Eve party? Actually, not many people are interested in watching it."

"That's true, just hand out apples and pears and that'll be enough."

In the midst of their argument, Chen's father's phone rang.

"Hey, Lao Zheng, oh, I got it. Don't worry, I'll urge him to get it done as soon as possible. Don't worry, I'll tell them on my end that they won't mistreat their employees, and any dismissed employees will definitely receive full compensation."

After hanging up the phone, Mr. Chen said happily, "The Nippon Electric Company matter is settled. You should hurry up and get it done before the New Year if possible. Let me tell you, the Japanese aren't all that great; their New Year's benefits aren't very good."

"Once you accept it, regardless of whether you stay or not, give me a generous bonus for the New Year. Then when I go back to my workplace, I'll have face too."

Chen Yiran nodded and said, "Please go ahead. I've already contacted several companies to help, it'll be very quick."

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