Chapter 313 Sage Time

"We have to acquire ISSI, and we also have to acquire Qimonda or other dynamic storage technology patents. We have to walk on two legs."

After lunch, they returned to the study. Xie Jingxing finally revealed his true intentions, and Yu Nian and the other two felt a chill in their hearts.

Originally, Chen Zhibin of Huachuang Xinyuan and Zhu Yiming of Zhaoxin reached a tacit understanding, and Luzhou Xinhai Fund could only be a sucker and accept the forced sale, spending a high price to complete a three-party transaction to acquire ISSI.

But with the risk warning issued by Zeng Shixiong now, the situation has suddenly reversed.

First, according to the original plan, Zhaoxin Technology will be introduced for cooperation to establish a new memory chip company in Luzhou. However, it is not certain whether ISSI will be taken over at a high price in the future.

If the latter's core supplier disrupts the merger, this force majeure factor will not be considered a breach of contract by Xinhai Fund.

Reasonable risk control clauses are written into the contract in advance and no one can find fault with them.

After all, Wang Ningguo, who has been in the semiconductor industry for a lifetime, could not imagine such a bizarre risk of M&A failure. If Zhu Yiming and Chen Zhibin could have predicted it in advance, they would be amazing.

Xie Jingxing offered hundreds of billions of funds without hesitation, saying that you two brothers can do whatever you want, as long as you can make a good chip and help me make some money.

On the other hand, based on this, in accordance with the overall transaction plan, we will first establish a new chip storage company in Luzhou in a joint venture with Zhaoxin Technology, and the company's development expectations must be signed in the investment contract.

For example, what market share will be achieved in three years, how many jobs will be created in Luzhou, and how much annual output value will be created.

Lianyunhe Logistics has to sign such an agreement with the local government when it goes to Chuncheng to build a logistics park. This is also the purpose of all places to attract investment at a high price. I have agreed to spend a high price to acquire ISSI. Isn't it for future development? It is a very reasonable clause.

What? Zhu Yiming said that he signed the development expectation terms, but uncontrollable risks arose later and Luzhou Xinhai Fund did not acquire ISSI as agreed?

Sorry, he also admitted that the merger could not be completed due to uncontrollable risks. But on the other hand, if the terms cannot be fulfilled to achieve the development expectations, then Zhaoxin Technology will be in breach of contract.

If they are not satisfied, Zhaoxin can just try to breach the contract. It took Xinhai's money but still wants to not do its job. Does it really think that a 100 billion industrial guidance fund in such a huge provincial capital is a good guy?
This trick, this trick is called closing the door and beating the dog to lure it in and kill it.

With countless classic cases of blood and tears as reference, there is no more effective way for local governments to play than this.

——Yu Nian couldn't help shaking his head. The talk of being able to bend and stretch and to make friends with others was all lies. The man named Xie was a big liar and would not let go of the slightest opportunity to take the dominant position.

"Of course, our wish in introducing Zhaoxin has always been to promote the sound development of the domestic semiconductor industry."

Xie Jingxing continued to speak straightforwardly and logically, "So whether we can acquire ISS in the end or lock Zhaoxin Technology with investment terms, it is just a process and means, not the final result."

"We must acquire Qimonda's technology and build the dynamic storage industry, even if we have to burn money starting from scratch."

He paused for a moment, turned his head and said frankly: "Dr. Wang, I have unlimited expectations of you, and I also have unlimited support for you."

"Is it not a bit too disrespectful for me to refuse to join now?"

Wang Ningguo saw through the fake and exaggerated attitude and made his position clear. Zeng Shixiong laughed in support and warmly welcomed Dr. Wang to join.

They both could understand the true core from Xie Jingxing's disdain, or the deliberate unscrupulousness he displayed.

The young boss hated being blatantly taken advantage of and being ripped off without any resistance, yet he had to smile and applaud while acquiring ISSI at a cost far exceeding its market value.

For this purpose, he does not mind spending more energy, money and a tortuous process to introduce Zhaoxin Technology to develop the dynamic storage industry. He cares a lot about the initiative!
Therefore, it is not enough for Wang Ningguo to join the joint venture. He also needs to understand whose money he is taking, whose side he is standing on, and whose orders he is obeying.

"So before Xinhai Fund and Zhaoxin Technology officially signed the cooperation agreement to introduce Luzhou, they had to conceal the information about the acquisition of Qimonda's technology patents."

Wang Ningguo summed it up secretly, and then he started to wonder again: Why did Zhu Yiming insist on ISSI?

"Then it's settled. Mr. Zeng, please discuss the details with Dr. Wang. When Zhu Yiming comes in the evening, we will negotiate in this direction."

Without giving him a chance to ask questions, Xie Jingxing began to arrange the work: "The office space is ready in the next room, and there are detailed cooperation materials. You can go over now."

He started to work right away, but Wang Ningguo felt disappointed because he started working too quickly.

Although he doesn't have a daughter who is taking the art exam, but in terms of other salary and benefits... Actually, at his age and position in the industry, salary is not important. What matters most is the power over the company contained in the implicit benefits...

He went to the bathroom to relieve the prostate pressure caused by a large cup of hot tea, and adjusted his mentality and returned to the office.

Just as I was about to inquire about Zeng Shixiong's scope of authority, I saw Xiao Zeng walking over to the printer with a simple smile on his face and handing over a few freshly printed documents that were still warm: "Dr. Wang, confidentiality agreement."

"Haha, you do things in a rigorous and methodical manner."

In Dr. Wang's mind, Xiao Zeng's image suddenly became hateful, but the confidentiality agreement had to be signed.

"In a few days, Mr. Tang Man from Grapefruit Capital will come to discuss the specific work contract with you. Do you need help recommending a career consultant and lawyer?"

Zeng Shixiong gave a thoughtful reminder with a sense of superiority, and the two old men immediately started communicating like good partners with smiles on their faces.

…………

The atmosphere in the study room at the other end was a bit depressing. Yu Nian looked at Xie Jingxing silently, and Xie Jingxing looked at the chessboard and chess pieces in the Duobao grid silently.

After a short stalemate, she was the first to break the ice: "How much does it cost to acquire Qimonda's technology patents?"

"I don't know." Xie Jingxing shook his head.

Yu Nian was choked to death: "So does this count as whatever you think is going on?"

"Zeng Shixiong estimated that the acquisition of Qimonda's technology patents would cost about $6000 million, or less than 4 million RMB."

Xie Jingxing retracted his gaze and explained seriously: "But it's not enough to just acquire the technology. We have to improve this batch of technical patents. Maybe we have to invest 10 billion, 20 billion or 30 billion US dollars in research and development, so I said I don't know."

Qimonda is a European company that failed to survive the global financial crisis and the European economic crisis that followed. As the world's second largest memory chip company, its demise was like a whale falling from the sky.

Various technical patents are dispersed and acquired by companies in various countries, including middlemen who specialize in technical patent licensing business.

In short, these middlemen buy Qimonda's patents and repeatedly license them to various companies in need. They will not sell the patents as a whole at one time.

If you don't want to leave loopholes that may be strangled by authorized patents at any time in the future, you have to develop, update and iterate based on the authorized patents, which is a huge expense that cannot be accurately predicted.

"Will it cost $8 million or $10 billion to take over ISSI? Is it possible to overcome the opposition of core suppliers?" Yu Nian asked again.

Xie Jingxing held his breath and then exhaled deeply: "Do you know whether ISSI's technology patent is better or Qimonda's technology patent is better?"

"I only know that ISSI has a complete core business and a fixed share of the dynamic storage market." Yu Nian went on and on.

"Yes, this is what Zhu Yiming thought, but he should also think about how to deal with the supplier's opposition." Xie Jingxing pointed to the desk: "You should go ask him, don't be so gloomy and argue with me here!"

Why was Zhu Yiming willing to cause trouble with Chen Zhibin of Huachuang Xinyuan and demand that the takeover of ISSI be tied to the cooperation with Xinhai Fund?

The reason is simple. As Yu Nian said, ISSI has market share and main business. The acquisition will help Zhaoxin Technology quickly enter the field of dynamic memory chips.

As for the extra money required for the acquisition, it was Xie Jingxing who paid for it, not him. On the contrary, the higher the acquisition cost, the higher the value of this asset in the financial report, and the higher the overall valuation of the parent company Zhaoxin Technology when it goes public.

There would be a problem if Zhu Yiming was unwilling to do this business where both sides can make money.

Yu Nian’s idea was not complicated. He just expanded on the first reason - ISSI had ready-made technology and business, while Qimonda only had the technology purchased and had to start from scratch.

Putting aside the emotional output of being treated as a sucker, if the opposition of ISSI's core suppliers can be overcome, it would definitely be more appropriate to acquire ISSI.

In the final analysis, Xie Jingxing introduced Zhaoxin to Luzhou not to kill the other party out of spite. Even if he used ISSI's own problems to control Zhu Yiming, he still wanted to acquire Qimonda's technical patents and cooperate sincerely to make money.

We had originally agreed to meet with Zhu Yiming yesterday for a face-to-face meeting, but due to the risk issues raised by Zeng Shixiong, the meeting was delayed to today, adding uncertainty to the entire transaction.

Indeed, any sudden hint of clues can be instantly seized and transformed into an offensive weapon to regain the initiative.

Yu Nian admitted that this was very, very impressive, and was even impressed by it. Because of this, she didn't want Xie Jingxing to be childish and willful.

"You are wasting your talent, ability, and conditions. You are eating back everything you said."

She thought she was doing the right thing, and she was unafraid of power and made her comments calmly and indifferently.

Xie Jingxing couldn't help but hold his forehead: "What did I say?"

"You said you didn't want to waste your talent. Just before the annual economic summit, you asked me to help you look at the speech. Did you lie to me?" Yu Nian's tone inexplicably carried the tone of a resentful woman who had been let down.

Xie Jingxing grabbed his hair with a hideous look on his face. He was really energetic and had a lot of energy. Mom: "Okay, do you want to hear the truth?"

"How can I listen if you don't tell me?"

"First, do you know what I was busy with before lunch? I caught Yuan Jin and Pei Fei busying around."

Yu Nian's guess that Yuan Jin's hair was wet at noon was confirmed, and he turned his head away in shame to avoid looking at her.

She was too embarrassed to listen, but Xie Jingxing was too embarrassed to speak. He stood up from his desk and waved his arms confidently: "My mentality has been unstable these days. Only during the sage time can I think about the logic of being able to bend and stretch, or to suppress first and then rise."

"Most of the time, I would instinctively ignore the option of appeasement, although in fact, I have rarely had to beg others since I entered the industry."

He raised his voice slightly: "From this, I can conclude that unless I can no longer be strong, I will never accept cooperation from Zhu Yiming like a lamb to be slaughtered."

Yu Nian opened her red lips in astonishment, dumbfounded. What a shameless and perverted logic! She was unable to refute it.

"Second, if there is not even the slightest chance of regaining the initiative."

Xie Jing Xing changed the subject: "Then I can only pull Yuan Jin and the others with my helpless rage, keep myself in a soft state, and then kneel down to accept charity and invite Zhu Yiming to Luzhou."

Yu Nian became even more demented. She was absolutely sure that no human could say such words.

"But Zeng Shixiong created this possibility for me. The day before yesterday, I heard his professional analysis and judgment, and I felt happy from the bottom of my heart. I specifically called Pei Fei back from New York Fashion Week to accompany his daughter to the art exam. This is a reward. I am fair and not stingy, right?"

As Xie Jingxing spoke, his aura gradually calmed down. He sat down on the edge of the desk, relaxed his body, hunched over, and lowered his head.

He straightened his collar which was messed up by his excited body movements, buttoned up his shirt and straightened the hem of his shirt, digesting all the emotions and thoughts that seemed unreasonable to Yu Nian.

"Third, ISSI is a company that is likely to be influenced by its suppliers in its business decisions. As Dr. Wang pointed out, this is rare in the global chip industry."

Xie Jingxing was firm and resolute: "Even if we successfully acquire ISSI now, the intensity of trade and technological competition brought about by international relations in the future will exceed your expectations. By then, ISSI will still be controlled by foreign suppliers. The semiconductor industry you and I have built is a castle in the air and will fall apart at the slightest touch."

"There's nothing wrong with starting over. At least I think it's good."

He nodded vigorously, sat up straight and looked down at me: "My statement is complete."

"I heard... this is what you told Huang Zhang when you were sick in Zhuhai years ago. You are very pessimistic about the future international situation?" Yu Nian came back to his senses and asked softly.

Xie Jing Xing smiled and said, "In the near future, you will be able to see it soon."

"You're always right."

Yu Nian blurted out, like sarcasm and affirmation, smoothed the hair beside his ear, lowered his eyes and stared at the ground.

"Zeng Shixiong is a petty person who cares about his reputation, but it is obvious that he has some ability. I gave him the position of Xinhai Fund Manager. Dr. Wang is boastful and power-hungry, but he has good skills and can make full use of the technological patent heritage of Huggies Mengda to update and iterate. I will let him serve as the chairman."

Xie Jingxing said to himself: "Zhu Yiming is very greedy, but he has led Zhaoxin to become unrivaled in the country. Even if I don't want to be ripped off, I have to cooperate with him wholeheartedly for a win-win situation."

"As for you, you are a fussy person with a brain full of ideas and you always have inexplicable hostility towards me. But you work very hard, you have a state-owned mother fund, and you have abundant resources."

He paused for a moment and said, "I have to find ways to coax and intimidate, so that we can keep things as stable as possible and effectively promote cooperation."

"To sum it up, you see, despite my numerous problems and shortcomings, I have been able to maintain a minimum of rationality and patience to weigh the pros and cons. You don't have to think that I'm wasting anything."

Xie Jingxing rarely spoke from the heart, and every word he said was thorny, which made Yu Nian's face turn red.

The ups and downs of the tit-for-tat confrontation made her a little tired. Her mind was in a mess and she didn't know what to say next. If she just gave in like this, would it seem a little too submissive?

"Where are you going?" Her thoughts were suddenly interrupted.

Xie Jingxing stood up and walked out without looking back: "Fuck!"

"...Negotiations tonight?" Yu Nianquan pretended he didn't understand anything.

"It's still early. If you're too late, you can take Zeng Shixiong and Dr. Wang to negotiate with Zhu Yiming. If you don't want to, you can let them be in charge of the negotiations."

The voice faded away, and Yu Nian wanted to chase him and kick him to death several times, but in the end he just sighed dejectedly.

He sat alone in the study room for more than half an hour, grabbed his bag, turned around and ran away, leaving her in the front to negotiate and make money for him while he was messing around in the back. What a joke!
She won't do it!

(End of this chapter)