Chapter 299 Capitalist Xie Jingxing
Xie Jingxing's personal reputation, investment ability and financial strength can win Luzhou's concessions in the general direction, but this will have no effect on the systematic marketization of government-guided funds.

The agreement on the details of the entire guidance fund cooperation plan needs to be based on national-level operational guidance documents and negotiated one by one. Xiang Yuan was unable to make the decision and immediately returned to the company to report the situation to his superiors.

Ten days or half a month is considered fast for a meeting to discuss and study such a major issue, and one or two months is also normal. Xie Jingxing booked a flight to Xi'an tomorrow and used the afternoon to visit BOE's B5 site.

"You came here alone?"

Mr. Wang Dongsheng was very polite and greeted him in the security room at the factory gate. Seeing the young man jump out of the online taxi and walk in quickly, breathing heavily, he asked with surprise.

Xie Jingxing nodded and explained: "I went to participate in their office's blind date event this morning, so I didn't feel comfortable troubling Director Yang to arrange for someone to accompany me."

"You are really young and smart."

Wang Dongsheng couldn't help but laugh, they were all ranked high for the Tang Monk's meat, he could guess with his toes how Xie Jingxing was received these days.

The two smiled knowingly, and he then introduced the factory: "This 8.5-generation production line was put into operation at the end of last year. It is one of our most advanced and profitable factories. Last year, the annual revenue was 33 billion. It is expected that the revenue and net profit will double this year. Luzhou City holds a 90% stake."

"The initial investment for this line was not low, right?" Xie Jingxing listened carefully.

Mr. Wang said: "The total investment is more than 200 billion, and we at BOE will invest in the company with our technology."

“It seems that our colleagues in Luzhou have made another excellent investment.”

Xie Jingxing cooperated and secretly wondered if the conversation between him and Xiang Yuan would spread so quickly. If so, it would be a bit embarrassing.

Mr. Wang was indeed asked by Director Yang to drum up support from the side, endorsing that Luzhou had strong financial strength and did not need to worry about the issue of cooperative investment, but he really did not know what happened in the morning.

The old man is very shrewd. Seeing the young man's inappropriate reaction, he thought that good intentions led to bad results. He hesitated and added: "This production line was invested and built in 09. At that time, the price war in the LCD industry was too fierce. The relevant departments switched the supervision of LCD companies from the filing system to the approval system. It was more troublesome to apply for the construction of a production line."

"Plus, our group's home is in Beijing after all."

Mr. Wang used awkward words: “That’s why this production line was registered as an independent company. We only provided technology and shares.”

Xie Jingxing understood immediately that investing too much overseas would hurt the feelings of the people in the hometown of the group headquarters, and he had to pay attention to the impact.

"It was proved to be the right thing to do. It was not until 12 that the application for this production line was officially approved." Mr. Wang made a vague conclusion, half afraid that he did not understand and half expressing his emotion.

Construction began in 09, was officially approved in 12, and officially started production at the end of 13.

It took three years to build a house and one year to set up a production line. If the technological content of real estate is not far higher than that of LCD panel production lines, it can only mean that Luzhou's investment technology content is the highest.

Xie Jingxing understood and tightened his military coat on his shoulders: "According to the venture capital industry, your project, Luzhou City Investment has regional invisible resources. If someone else were to do this project, they might not be able to do it well."

"You are very insightful in this regard. Is this a characteristic of the financial investment industry as a whole?"

The more Mr. Wang looks at the young people around him, the more he likes them. He does not hide his admiration: "We, the generation that came from the 1980s and 1990s, are getting older. In recent years, many young people have entered the company to take over. Most of them have very novel and wild ideas, but they are often not as thorough as you in implementing them. When the day comes when we can no longer do the work, I don't know what will happen to our life's hard work."

"There is still a way to go. This was also the case in the United States in the 1980s and 1990s. The handover between company founders and heirs gave rise to a large number of professional financial M&A institutions, including KKR."

Xie Jingxing comforted him, "During this process, a large number of mergers and acquisitions were carried out to eliminate the dross and retain the essence. The high-quality companies that survived were handed over to professional managers to manage. We will do the same in the future."

"Play dumb with me."

Mr. Wang pretended to complain, then sighed hesitantly and asked thoughtfully: "What year were you born?"

"91."

"That person should be about ten years older than you, a girl, who went abroad to study for a few years and came back early to take over the company after graduation. She can't do any business well, and then she publicly said that it was too troublesome to deal with local relations, and that if others can move their companies abroad, she can do it too."

President Wang frowned. "Such a successor is not a good choice. My son is almost the same. So I have long given up the dream of running a family business. The fittest will survive. When I can no longer work, I will retire in time and find a professional manager to take over, so as not to ruin my life's hard work."

Girl, ten years older.

Who is this? Xie Jingxing was a little confused for a moment. The gossip that could reach Mr. Wang’s ears could not be from a small company. Not only did it not maintain local relations, but it also wanted to move abroad?
This idea is so anthropomorphic, but unfortunately it is still one step away from evolving into humans.

"Xiao Xie, since you see things clearly, you should know that it is not easy for someone like Luzhou to have such ideas, courage and ability."

Walking into the factory workshop while talking, Mr. Wang finally brought the topic back. He was so hard at speaking good words, and his behavior itself proved that Luzhou was indeed unique. Xie Jingxing did not comment. At this moment, Director Yang was probably gathering people to study the conditions he offered. Correspondingly, he always went around to see who offered higher chips.

LeBron can pretend to be an emperor. He doesn't need people from all walks of life to pay homage to him, and he won't do it on live TV. He just needs to be a little reserved to decide where to take his investment talent worth 400 billion yuan. Isn't this very reasonable?

After taking off his coat and putting on work clothes to visit the workshop, Mr. Wang concentrated on introducing various LCD panel industry technologies. It's hard to say whether Lian Po, who is too old, can still make a living.

At least to Xie Jingxing, an outsider, it sounds like that. It is rare for a chairman to not be busy with administration and completely away from front-line technology, and this is exactly what he is interested in.

However, there were also discordant voices. He took the opportunity of going to the toilet to chat with grassroots employees alone. A few people he chatted with randomly either complained about the low salary and no overtime pay, or complained about the serious work style of state-owned enterprises and the mentally retarded management.

"Boss Wang, are all the workers in our workshop locals?"

After visiting the factory and returning to the office, Xie Jingxing asked indirectly.

Mr. Wang hesitated a little. "Most of them are. Our front-line workers are mainly siphoned from all over the province who originally went to Jiangsu and Zhejiang to work. But it seems that there are also outsourced workers from other provinces. I'll ask the HR manager to compile a detailed information for you."

"No trouble, no trouble, I don't need to do due diligence, just a casual chat."

Xie Jing couldn't help but wave his hands repeatedly. In fact, Wang was half a person from the financial industry. Semiconductor giants are often good at mergers and acquisitions, which are used to acquire potential competitors or certain technologies to maintain their own technological barriers and monopoly position.

He organized his words and said his real purpose: "When I visited the workshop just now, you mentioned BOE's idea of ​​opening up both upstream display chips and downstream commercial products with LCD panels as the axis in the future. I think this idea is very good."

"Just like Alibaba is also working on cloud technology chips from commercial product terminals, every company will instinctively expand into the upstream and downstream industrial chains as it grows."

"So in my opinion, if the Luzhou Chip Industry Guidance Fund is implemented, based on the laws of market economy, it is not suitable to invest in a single link in the chip industry in batches." Xie Jingxing stopped speaking halfway.

Mr. Wang agreed and said, "So you want to start from a small point and invest in a leading chip company, so as to drive the overall development of the upstream and downstream industrial chain in a certain segment."

"That's right. This will be the investment strategy to guide the fund's direct investment business. Doing so will make it very difficult to screen individual projects." Xie Jingxing said slowly, like squeezing toothpaste.

It is not only difficult. If a large number of fools invest as if they are successful by shooting at a row of fixed targets with a machine gun from 500 meters away, then their investment strategy is equivalent to using a machine gun to hit a moving target from 800 meters away with ten rings piercing the center. Any deviation will not achieve the effect of driving the upstream and downstream industrial chain clusters.

President Wang suddenly felt strange: "You...want to invest in our chip manufacturing?"

"From the perspective of venture capital logic, companies with mature businesses in the mid- to late-stage are more stable and therefore more worthy of investment."

Xie Jingxing smiled modestly: "Based on the 100 billion chip fund, compared to investing in an early-stage company, I naturally want to invest in BOE and push you to get involved in the design, material manufacturing, and even packaging and testing of the video display chip segment more quickly."

"You have already solved the problem of domestic LCD screens. It is reasonable for you to retire in time."

He restrained his expression and said solemnly: "But now there is an opportunity to make some contribution to domestic video display chips and start a business again, why not?"

"I'm already this old, and I've barely read a few chapters of Sun Tzu's Art of War. A general should not go into battle out of anger, and provoking a general is useless."

Mr. Wang didn't know whether to laugh or cry, and retorted, "You are the one who is thinking about poaching employees before the fund is even established."

"You misunderstood me and underestimated yourself. In fact, BOE has always been an important bargaining chip for Luzhou to attract me to cooperate. Of course, even if I cooperate with other cities in the end, we still have opportunities for cooperation." Xie Jingxing said frankly without changing his expression.

Mr. Wang evaded the point and interrupted, "So what do you mean by asking the workshop workers?"

“The quality of local workers’ labor seems to be a little worse than that of Guangdong.”

"..."

Xie Jingxing's words silenced Wang Zonggan, who thought to himself, "Old Xie is a kind man who does agricultural business, but how could he give birth to a capitalist child like you?"

He is well aware of the average salary of BOE's employees, which is far behind those in the Pearl River Delta and Yangtze River Delta regions of Jiangsu, Zhejiang and Shanghai. Moreover, the workers themselves have great initiative and higher tolerance to leave their hometowns to work.

Luzhou only recruits workers from the province, and the salary and benefits are pretty low. They complain from time to time but they won't really resign. After all, it is a blessing to be exploited at home.

As a result, Xiao Xie actually dislikes the quality of BOE's labor employment, and is worried about the business situation of future cooperation in the chip manufacturing industry.

What a far-sighted vision! As the chairman of BOE, Mr. Wang feels so ashamed that he wants to cry.

(End of this chapter)