Chapter 306 Complex M&A Projects

It would cost three million to plant roses all over Beijing, and the cost of a bunch of roses is about one hundred yuan.

This is the marketing plan finalized by the female intellectual Hu Weiwei after the completion of Mobike's new round of financing before the Lunar New Year. This plan is intended to coincide with the campus opening season in March and preheat the product for full-scale deployment in the Beijing market.

The slightly colder weather will inevitably have an impact on shared bicycles, but if nothing is done, the shared yellow bikes will be driven out of the campus market.

The romantic atmosphere of the free-for-use bicycles randomly placed in the corners of the city is quite consistent with Hu Weiwei's positioning of Mobike's petite-bourgeois quality. The roses created a big sensation and spread offline and online in Beijing as expected.

"Mr. Xie is really generous to approve a project that just passed the A round to spend 300 million yuan on marketing expenses."

Yu Nian naturally saw the relevant marketing soft article, and realized belatedly that the flower did not belong to her alone, and it was very likely that she was the one who got it.

What is this? Spending little money to pretend to be big, he is really a genius in capital operation. He has to be careful in calculating and winning people's hearts to kill two birds with one stone. Damn it!
"I think roses suit you very well. If you don't like them, how about tulips?" Xie Jingxing asked seriously without any hesitation.

Yu Nian suddenly panicked and closed her mouth, not daring to respond. What position did she have? Accepting the exclusive romantic plan from Xie Jingxing was already a huge overreach in the name of the Mobike project.

Suddenly, a sense of shame lingered in my mind, which then turned into fear, guilt, and vanity, like a little mouse crawling in the darkness, which would die when exposed to the light.

"Get me a glass of water, thank you."

Xie Jingxing stopped at that point, crossed his legs and leisurely gave orders to people, even though the waiter was clearly at the door.

Yu Nian gave up on reminding others and silently picked up the thermos cup to go to the water bar. After thinking for a while, he cut two slices of lemon and added honey into the cup.

Xie Jingxing looked at her busy back and smiled meaningfully. She was quite pitiful. Her ability was not worthy of her hard work, and her luck was not worthy of her family background.

I feel sorry for myself for lying down and doing nothing, but I am still mediocre and doing nothing when I am positive and optimistic. I am twisted and pretentious, but I keep my natural arrogance and show my fangs to the whole world.

He was like this in his previous life. Many rich second-generations who claim they will inherit their fathers' glory are like this. It's not a matter of whether they are good or bad, they are just servile and deserve to be abused.

Since Yu Nian likes to hypnotize himself with the Ah Q spirit, and always talks about his personal morality as if he has a sense of superiority, let's get serious. If you keep talking about it, I will take off your clothes.

He was a coward on the outside but was actually very scared. At the same time, he buried his head in the sand, pretending to be an ostrich and enjoying himself secretly.

"ISSI's equity structure is very complicated. If Silicon Semiconductor wants to acquire it, it's foreseeable that it will be cheated." Xie Jingxing complained as he sank into the soft sofa like a paralytic.

Yu Nian sat at a distance, also reading the information: "I think the changes in the international situation this year that you mentioned earlier will have a great impact."

"As expected, they have a certain chance of success in the acquisition if they can take this route. The key is that the composition of the acquirer is also very complex."

Xie Jingxing was deep in thought while holding the computer. Yu Nian was too lazy to think and put down the information, looking at the farmhouse chef who was roasting a whole lamb outside the floor-to-ceiling window of the villa.

ISSI is a listed semiconductor company in the United States. It mainly operates in the field of automotive storage chips and has a certain market share in the industry.

Silicon Wave Semiconductor is a domestic chip company. It cannot be called Silicon Wave yet, but "Jingcheng Shansheng", which has a strong background.

Soon after its establishment in the early 2000s, the company quickly started to produce embedded chips for learning machines and repeaters. With low costs and low-level technology, it shipped tens of millions of units in just a few years.

The good days did not last for a few years. Tablet computers were soon used to replace computers. Jingcheng Shansheng began to transform into high-end smart home chips, but after several years of hard work, there was no improvement. Now, with the rise of mobile terminals, technology research and development has been left behind.

Working hard but still not catching up, he suddenly had an idea and started mergers and acquisitions, overtaking others through capital operations.

So, with the left hand, they organized a group to invite many domestic investment institutions to establish the shell of "Beijing Sicheng" semiconductor, and with the right hand, they contacted ISSI, intending to delist, privatize and acquire.

The leading capital institution on the domestic side is Beijing Yizhuang Guotou, which had previously wanted to invest in Xiyou but was coldly received. It is also the second largest investor in the Semiconductor Big Fund.

The second is Huachuang Xinyuan, which is affiliated with Tsinghua University. Its capital background is very complicated, including both state-owned and social capital. This merger and acquisition faces three difficulties.

First, like the WhatsApp acquisition, it had to obtain approval from the US Foreign Investment Committee; then, the approval of ISSI’s own related stakeholders was required; and finally, there was a disagreement between Yizhuang Guotou and social capital on the profit expectations of the acquisition.

Precisely because of the complexity, Yu Nian had the opportunity to recommend himself and push Xie Jingxing to this M&A project. This was an opportunity to enter the semiconductor industry.

"It will be a success if I can avoid being cheated as much as possible." He pondered for a long time and set a goal.

Yu Nian said inexplicably: "The scale of this acquisition is not large."

"ISSI's market value is at least $6-8 million. If it is acquired and listed in China, its market value will be at least billion."

Xie Jingxing raised his eyelids and glanced at him, Yu Nian was annoyed.

Yizhuang Guotou's expectation for this project is to acquire technology to develop the chip industry, while social capital's expectation is to privatize the acquisition, list it domestically or split and integrate high-quality assets and then sell them to make a profit from the difference between middlemen.

Regardless of going public or splitting up and selling off, there is a demand for short-term business revenue. In short, forcing things to happen is inevitable, and there is no need to think about long-term business development.

"Zhang Wenyi should be here soon. Please ask him if the roasted whole lamb is ready. Thank you."

Xie Jingxing put it on hold for the time being. He was originally going to go to the office of Silicon Semiconductor to have a detailed chat today, but was interrupted by his senior's sudden invitation to dinner, and as a result, he hasn't arrived yet.

He kept saying thank you, but it didn't sound polite at all.

Yu Nian was secretly complaining and was about to ask when a car drove into the farmyard and stopped. Zhang Wenyi and a middle-aged man with a round face and small eyes who looked three points like Zhu Xiaohu got out of the car and walked over, chatting and laughing.

"Zhu Yiming?" Xie Jingxing couldn't help but pause for a moment to confirm. Today's drinking party might be difficult to dismiss.

Yu Nian hummed in a depressed tone. Last night, Zhu Yimin called her at the last minute and stood her up casually. It turned out that it was just because he had accepted a dinner invitation at the last minute.

Everyone knew that Xie Jingxing was not welcome, and it was fine, but it was a little awkward to bump into him in person.

"Uh, Mr. Yu, I'm sorry, I really didn't know that Mr. Zhang had an appointment with you." Zhu Yiming explained with a dry smile.

Zhang Wenyi livened up the atmosphere: "This is Mr. Xie Jingxing, a young talent in the venture capital industry. You two must get to know each other."

"Of course. Mr. Xie is well-known and I have wanted to meet you for a long time." Zhu Yiming took the initiative to shake hands to ease the awkwardness and also to give face to his senior.

That’s right, Zhang Wenyi is an old senior from Tsinghua University. His seniority is not exaggerated, he is really impressive.

Xie Jingxing didn't take it seriously and responded enthusiastically. He directly pulled Zhu Yiming to sit down and chat with him. The old senior and Yu Nian chatted with each other from time to time, and the atmosphere was harmonious and full of laughter.

A few minutes later, an old man in a suit with deep eye bags, deep nasolabial folds and eagle-like eyes appeared in the villa.

Wang Ningguo, former CEO of SMIC, is a leading figure among Taiwanese talents.

When the internal struggle for the chairmanship was fierce, the local leader who was competing with him was once exposed to have personal tax problems, and then the local officials of Shanghai stepped in to mediate.

Wang Ningguo and the local leader were both eliminated, and Zhang Wenyi quickly took over. He was somewhat disheartened by this situation. He thought that at his age, there was no need to ruin his reputation in his later years when the outcome had already been decided.

He voluntarily submitted his resignation and returned home to retire, successfully passing the position to another Taiwanese leader.

So even though his resignation directly led to the departure of hundreds of Taiwanese talents, from the perspective of job transfer and stable retirement, Wang Ningguo had to accept Zhang Wenyi's invitation to attend the event today.

It can be said that the old man sold out most of his life's favors in exchange for his son's future.

Chen Zhibin from Huachuang Chip, Lv Dalong from Will Semiconductor, Liu Yue from Tsinghua Huachuang, and other players from Tsinghua University and Taiwan have gradually gathered in the Beijing chip circle.

"Xiao Xie, please don't drink. The road is slippery today and my driving skills are not good. I am counting on you to take me home."

More than a dozen people sat at the long dining table. Before the meal started, the senior person briefly pointed out the relationship. Just this one sentence was enough, and everyone knew it.

Yu Nian looked at Xie Jingxing in confusion. Didn't they say that they couldn't even beat the snake even after sending him to the gate of the community? Why did they want to send him home the next day?

"drink wine."

Xie Jingxing poked her with his hand hanging under the table and reminded her softly.

Yu Nian smiled: "It seems that he will not have a good meal today. Except for Mr. Liu, this is the first time I meet all the seniors here. I toast to you seniors."

"Wait, let me explain first, how good is our junior sister's driving skills? Can she drive today?"

Zhu Yiming asked, causing everyone to laugh. Liu Yue from Qingxin Huachuang added jokingly, "It's embarrassing to let a junior sister drink with a group of rough guys like us. Don't you think so, Mr. Xie?"

"Okay, Mr. Zhang, let Mr. Yu take you home. I'll drink this wine first as a token of my respect."

Xie Jingxing stood up as he spoke, picked up the two-liang wine glass, tilted his head back and poured the wine down his throat.

"Okay, Mr. Xie is a straightforward person, but in our capital, we don't drink a glass of wine when we meet for the first time."

Lu Dalong from Weier Group gently stepped forward and filled his glass with wine. Everyone present had different expressions and no one interrupted. Zhang Wenyi sat leisurely, wiping his hands and watching the scenery.

"Then this second cup, I toast to the capital?"

Xie Jingxing's tone was like a question or a request for advice, his Adam's apple moved slightly as he swallowed his saliva to suppress the churning smell of alcohol in his stomach. He looked around, scanning every face to delay time, and then memorized everyone's identity.

“I’m new here, and it’s an honor to meet you all.”

Xie Jingxing raised his glass again and drank it all. Zhu Yiming was about to say something, so he raised his hand and refilled his glass: "This is the third glass. As a junior, I would like to toast to all the seniors who have contributed to the domestic chip industry. If I do something wrong in the future, please give me some reminders."

Chen Zhibin's eyelids twitched and Zhu Yimin frowned slightly. "That's enough. No one owes anyone anything when doing business. If we work together, both sides will benefit. If we don't, we will just go our separate ways. The chip industry is not anyone's private domain. Why do outsiders have to apply for a pass to come in?"
After all, he is a top figure in the venture capital circle. Who doesn't have a temper and can be bullied to death by you? Besides, Mr. Zhang is watching you.

Wang Ningguo stayed out of the matter and watched coldly. This kind of scene was very common. The Taiwanese faction and the local faction were fighting each other. Could it be that it was all their problem? He thought that was probably not the case.

"Mr. Zhang is going to retire next month." Chen Zhibin of Huachuang Chip suddenly whispered in an inaudible voice, covering his mouth with a wine glass.

Zhu Yimin was speechless for a long time, watching Xie Jingxing's red face and drunkenness, his schoolmate Yu Nian holding the glass of juice stiffly, and Zhang Wenyi's expression gradually becoming stiff.

The troubles of all living beings eventually turn into sighs from the bottom of the heart.

"Liu Yue doesn't seem to drink much." Chen Zhibin seemed to be talking to himself.

Zhu Yimin seemed to be thinking about something. Mr. Liu from Qingxin Huachuang was the person closest to a professional venture capital institution in the chip circle. He helped to support the situation at the beginning, but later he did not dare to join in the fun and get Xie Jingxing drinking. This can explain a lot.

So the question is, why does Chen Zhibin have to be a good person to remind people of the ins and outs of this?

(End of this chapter)