Chapter 1014 We are going to be ‘unlucky’
Shortly after watching Huang Dongsheng leave, Jiang Xiaoyang opened the door and walked in.
"Is he gone?"
"Yes."
Invite her to sit down.
"As expected, Hanhua will soon have a holding subsidiary called 'BOE'."
The beauty frowned.
“Controlling?”
She thought Xu Liang was just investing a little money, but she didn’t expect that he actually took the controlling stake directly.
And she had just sold Kelong Supermarket, Kunlun Technology, and Fuhua Real Estate in order to save time with her children, but Xu Liang caused her another big trouble.
"Huang Dongsheng is a very capable person. BOE does not need to worry about leaving it to him. Hanhua only needs to send a non-executive director."
"Are you really so optimistic about BOE?"
"There are many companies that I am optimistic about, but this one allows us to have peace of mind as only a financial shareholder, and it also allows us to hold a small number of companies."
Xu Liang poured her a cup of tea and handed it over.
“But apart from the reasons I mentioned, the most important point is that Hanhua needs such an enterprise.”
"Why?"
"This year's total income of Hanhua, especially the total income from the US securities market, is close to 40 billion US dollars.
For such a large amount of money, 35% has to be paid
It hurts me to pay the capital gains tax.
So, we need debt to balance our finances.
BOE is the most suitable target. "
Jiang Xiaoyang suddenly realized.
"So that's your plan, but how much debt can one BOE add to us in one year? With its current size, it would cost 30 to 40 billion Chinese coins to survive. "
Compared with Hanhua's revenue of nearly 40 billion US dollars this year, this debt is too small.
"What if we add another SMIC? "Xu Liang said with a smile.
The investment in chip factories is no less than that in panel factories.
Hanhua once invested US$2 billion in a tin-free factory with Hynix. It is very clear how expensive the investment in a large chip factory is.
"How much money are you going to spend on these two companies?"
"At least 10 billion US dollars, if more, that would be great."
Xu Liangdao.
"Can BOE and SMIC be able to handle such a large amount of capital?"
"It takes at least two years for panel factories and chip factories to be completed from project establishment to completion, which is enough time for them to train Produce enough qualified workers.”
“What about the market? It’s not possible without production capacity. Moreover, Hanhua Strategic Investment Department and your Hongyan both predict that U.S. subprime debt will arrive in the future. It will collapse within two years, triggering a global economic crisis.
Boe Oriental and SMIC are expanding their production in the future, which will coincide with the economic crisis.
How will these production capacities be released by then?
Xu Liang certainly knew about the global economic recession caused by the subprime mortgage crisis.
But he also knew that in order to revitalize domestic demand, China brought home appliances to the countryside, which directly stimulated nearly one trillion yuan in consumption.
In other words, BOE and SMIC can do well just relying on China's domestic demand market.
But he couldn't tell Jiang Xiaoyang about this kind of thing that didn't happen.
“Xiaoyang, if I want to run a business, I either don’t want to do it, or I want to be the best one.
Although BOE and SMIC are the largest display panel manufacturers and chip foundries in China, they cannot even crack the top five globally.
It is even far behind Samsung, TSMC, GlobalFoundries and other giants.
If you want to catch up with them, there is no other way but to throw money at them.
They invest US$10 billion every year, and we invest US$15 billion.
They spent US$15 billion, and we spent US$20 billion.
Only with unswerving investment can we become a world-class manufacturer.
The market will give us adequate rewards when all the hardships come to an end. "
After a pause, Xu Liang continued with a smile.
"And we have enough confidence to withstand losses. ”
Jiang Xiaoyang thought for a moment.
"The company is yours. Since you have decided, let's do it."
He stepped forward and hugged her slender waist, and kissed the beauty's smooth forehead.
“Actually, there is another very important reason for investing in BOE and SMIC.”
“What?”
“Spend money.”
"Spend money?"
"Don't understand?" Xu Liang continued with a smile, "As the old saying goes, the first rafters will die first. This time we made too much through the Tenglong Project.
Although overseas, we have used the fund shares of Pacific Fund and Qinglong Fund to appease the situation, but it has not yet happened in China.”
Capital is the leader abroad, is it domestic...
The demands of those in power. It's different.
"Are you worried that the superiors will make things difficult for us?"
Xu Liang nodded, "Although the Jiang family is here, they will not do anything blatantly, but this anger is held in the heart and always finds a place to vent it. .
If you wear small shoes for us, there will definitely be more and more stumbling blocks.
So in the past few years, we have to be unlucky and lose some money to those who are envious. Jealous people can feel better.
The more important thing is to leave a good impression on the top.
Although Hanhua has made money, it is not a greedy capitalist, but a patriotic capital that supports research and development, supports innovation, and supports domestic new technology enterprises. "
Looking at the man in front of me.
"Is this what my dad thought of when he recommended BOE to you? "
"I'm not a god, how could I think so much at once? These are all summed up when I was living in Jiulong Valley. "Pull her to sit down.
"I used to think that 'suffering a loss is a blessing' was a fart and a coward's excuse to comfort himself, but now I understand a little bit better.
Under certain circumstances, suffering a loss is indeed a blessing."
"Okay, I agree with you investing in BOE and SMIC."
"Really agree?"
Jiang Xiaoyang nodded, "What you said does make sense. In the past few years, we have He has repeatedly made huge sums of money from the international market, and is shining brightly.
But our background is too shallow.
It’s really time to hide my stupidity for a while. ”
If Hanhua also has a century-old foundation like Goldman Sachs and JP Morgan, no, even if it has twenty or thirty years of foundation, there is no need to worry about this.
Because everyone is used to your strength. .
Making money is a must, not making money is an accident.
Dong Dong...
There was a knock on the door.
Hurrying away the smelly man's hand that was making trouble on her body, she straightened her clothes.
“Come in.”
The person who pushed the door open was not Li Jinling, but Jiang Xiaoyang’s secretary Li Xiaoya.
Say hello to Xu Liang first.
"Mr. Jiang, a reporter from Beijing TV is here."
"I understand, you can greet me first, I will be there soon."
"Okay. ”
“Why did the TV reporter come? Is there any activity in the company? ”
"In the past few years, we have rescued more than 1,000 children with leukemia through the Xu Family Charity Fund, and the charitable funds invested exceed 500 million Chinese dollars.
It is almost the highest among all Chinese private charity funds.
So I am going to publicize it and let everyone know that our Xu family is not a black-hearted capitalist, but a philanthropic and patriotic capital."
After saying this, he glanced at Xu Liang.
“You are not the only one who can see the potential crisis in Hanhua.”
"Haha, of course. My daughter-in-law is so beautiful and smart, so she must have a lot of tricks up her sleeves. Oh, how could I be so lucky to marry such a smart wife.
Not only is she charming The beauty of the country, and the wisdom comparable to Zhuge Wolong..."
"Okay, okay, a good thing you said makes my skin crawl all over."
Stand up. Walk towards the door.
“I’m going to get busy.”
As he spoke, the corners of his lips raised slightly, and a smile appeared on his pretty face.
"I will cook myself tonight and go home from get off work early for dinner."
Xu Liangdao.
“Got it.”
Bang…
The door closed, the pretty figure disappeared, and Xu Liang leaned back tactically.
"Sure enough, women have to be coaxed."
Pick up the BOE information on the table.
Huang Dongsheng didn’t take it with him when he left.
BOE is not just a panel business as the outside world thinks.
It also has a display foundry company under its umbrella - TPV Technology.
The two parties cooperated very early.
On August 19, 1997, BOE and TPV Technology jointly established TPV.
The total investment between the two parties is US$29.93 million, with a registered capital of US$26.5 million. The investment ratio is 52% from BOE and 48% from TPV.
In the past few years when BOE has been aggressively expanding its LCD empire, TPV Technology has undoubtedly been its closest partner.
At the same time, TPV Technology has also expanded rapidly with the growth of BOE.
By the end of 2005, TPV Technology had established a global marketing system, and its customers included world consumer electronics giants such as HP, Dell, and Siemens.
CRT monitors lead the world with production and sales of 29 million units.
LCD monitors rank second in the world with production and sales of 6.2 million units.
Annual sales exceed US$3.4 billion and net profit is US$175 million.
As its strength and influence become stronger and stronger, TPV Technology is no longer satisfied with just OEM.
Start building your own monitor brand.
In order to seize this most important downstream enterprise, BOE spent more than 1 billion Hong Kong dollars to acquire 26.36% of the shares of TPV Technology in August 2003, surpassing the Taiwanese Pan Group to become the largest shareholder of TPV Technology.
The two parties are more closely connected, and their business relevance is getting higher and higher.
Between 2003 and 2005, TPV Technology and TPV purchased TFT-LCD panels from BOE for US$1.24 billion, US$1.58 billion, and US$1.547 billion respectively.
In the first quarter of 2006, TPV Technology purchased TFT-LCD panels from BOE, accounting for 18% of BOE's TFT-LCD business sales revenue.
Without Xu Liang’s participation, BOE would soon put TPV Technology on the shelves in order to make up for its losses.
“We should get more shares of TPV, at least we should control it.”
Enterprises that connect upstream and downstream are not easily choked by others, and they can also extend their business lines. Get more profits.
The best example is Samsung.
Relying on the industrial chain that connects upstream and downstream.
Samsung has directly become the top player in the global consumer electronics field.
Even Apple, which is more powerful than it, is far inferior to it in terms of product range and breadth.
It is a pity that Kunlun has not yet grown up. In the first quarter of 2006, the combined sales of PC computers and notebook computers exceeded 1.2 million units, of which the domestic market accounted for 65% and the Southeast Asian market accounted for 32%. .
(End of this chapter)