Reinventing the Millennium.

Chapter 390 Standing on the Air Vent ([-] in [-])

"If you want to evaluate the business figures of 2002, you must mention Fang Zhuo's name."

"Open up the overseas music player market, challenge the global giant Sony, and compete with the US listed company Apple in North America. This is what Fang Zhuo's Yike Technology did in 2002."

"At the same time, the president of Yike unexpectedly arranged for Sina's equity, expelled the board of directors with lightning speed, and successfully controlled the No. [-] portal website in China."

"This year alone, Fang Zhuo is enough to make a big mark in the history of domestic Internet development."

"Today, Sina's stock price has increased by more than 40 times, and it is the highest priced stock in the United States among Chinese concept stocks. Yike's products are also selling well at home and abroad, and it is beginning to plan to go public."

"So... this makes people more and more confused about Fang Zhuo's choice at this moment."

"Why did he enter an unfamiliar semiconductor field?"

"How does he complete an investment operation using snakes to drive elephants?"

"Fang Zhuo's capital operation ability has been revealed a little when he acquired Sina. Even so, the scale of tens of billions of funds is still daunting."

"What's even more frightening is that this scale of funding is likely to have no moisture due to the special nature of the fab project."

"The most frightening thing is that the [-] billion figure is likely to be just the beginning."

"Anyone, I'm afraid I would oppose and look down on such a reckless cross-bank move, but if this person is Fang Zhuo, I have to say that although my final conclusion has not changed, the judgment based on business common sense in my heart is correct. shaken."

"When I heard Fang Zhuo's tens of billions of semiconductor investment, my first reaction was to doubt him, and the second reaction was to doubt myself."

"This is the power of the most dazzling business figure in 2002."

"It's just that if Fang Zhuo is complacent about his past successes and thinks that as long as he is willing, the project can be successful, then this year's success may be Fang Zhuo's last good time."

"After all, the business situation is changing, and we have seen too many powerful people fall into the dust."

——"Huaxia Business News".

"It is reported that Fang Zhuo is intensively working on semiconductor investment."

"For this news, we interviewed several professionals in the semiconductor industry."

"A vice president of Huahong said that this news is true and has been circulated in the industry earlier. Although it is not yet clear where the project will be located, Fang Zhuo's malicious poaching has caused the entire industry to panic."

"An insider from SMIC revealed that the project that Fang Zhuo wanted to invest in involved former SMIC senior leaders, and a small part of the company's engineers were also poached away."

"Different from the attitudes of Hua Hong and SMIC, the senior vice president of HiSilicon, which designs independent ICs in China, told our newspaper that he is happy to see more fabs appearing in the Mainland, but he does not think that Fang Zhuo's project will be successful in the next few years. There is too much competition."

"Readers may not be aware that fabs are the most critical part of the IC industry chain and are capital and technology-intensive industries. The strongest in our country is SMIC, and only it is expected to continue to catch up with the world's first-class level."

"At present, people in the industry are generally not optimistic about Fang Zhuo's investment this time. Whether the head of Sina and Yike can break through the judgment of professionals, time will test everything."

--"Southern Metropolis Daily"

……

With Fang Zhuo's "Ice Drink Project" starting the second round of city inspections, the media's comprehensive reports of various information have also caught the eyes of many people.

In addition to Fang Zhuo's own analysis and the opinions of his quasi-peers in the industry, more media focused on one thing—how did Fang Zhuo, the ninth-ranked Forbes rich man, manage 100 billion yuan of funds?

You must know that Fang Zhuo's net worth given on the rich list is only more than 20 billion, which is still far from 100 billion.

So where is the source of the president's investment money?

Who dares to spend so much money to let the president go from the Internet to semiconductors?

There are still many questions from the media and the public, and some friends from Fang Zhuo's Internet also called to inquire about the situation.

Fang Zhuo made a lot of connections before, and what he said at the time was that "the leader cares about semiconductors". Now after the news broke the news, this... Even if the leader cares, it is too big to play with 100 billion in one go. Bar!
In such a comparison, the money for alms is simply not money!

Netease Ding Lei, Sohu Zhang Chaoyang, Tencent Ma Huateng and others saw the description in the news and the analysis in the public opinion, and suddenly felt ashamed of the money they had given earlier, and suddenly felt ashamed of Huaxia. The Entrepreneur Industry Investment Foundation has gained a lot of enthusiasm.

In their view, such a large amount of money would not have been obtained without the care of the leaders, and although it was surprising that such a large amount of money was actually obtained, it seemed to be understandable if it was put on Mr. Fang.

Under such circumstances, Fang Zhuo, the party concerned who has attracted much attention, did not accept the interview. He was only thinking about finalizing the investment of different institutions.

Because the funds involved in the project are too large, although Fang Zhuo has created a lot of tacit understanding, it is still difficult to implement it quickly. Regardless of the fact that the chief financial officer recommended by Goldman Sachs to Yike has arrived, the investment contract is still delayed. Agreed.

This requires a breakthrough.

Luzhou State Investment can't be this breakthrough, it is the most vulnerable party in the investment meeting, and in the eyes of several institutions, it can even be kicked out at any time.

Yike Group and MIGA Fund can't be this breakthrough. The funds they show should be. If Fang Zhuo has neither technology nor funds, the institutional side will not consider entering the market at all.

Fang Zhuosi thought about it, Goldman Sachs has an ambiguous cunning, and Deutsche Bank has a kind of simple and honest cunning, this breakthrough has to be placed on the honest DCM.

Three rounds of investment conferences have been held, and several institutions are not in a hurry to express their views. However, Fang Zhuo's option pool has been reduced to 10%, which is the bottom line he uses to attract talents, and it cannot be lowered any further.

On August 8, Fang Zhuo had someone inform Goldman Sachs, Deutsche Bank, IDG, and DCM that they would hold the fourth round of investment meetings on the 1th.

On this day, Fang Zhuo finally accepted an interview with the media and responded positively to the investment action that has attracted much attention.

Fang Zhuo first explained the funding situation, because it has been gradually sold, and now there is nothing to hide: "Many media have written about a scale of tens of billions. In fact, this is our project budget. We are striving for this figure, not what we already have. With this money, everyone thinks about money too easily."

"I looked at the reports in the newspaper and felt like I was printing money."

"Of course, I also have part of the funds in my hand, which came from the original investment in Sohu and NetEase."

"In the past two years, I have always firmly believed that China's Internet industry has a bright future. This belief is not only in words, but also in action. Sohu's stock is almost sold out, and NetEase's remaining part."

Fang Zhuo talked about this very frankly.

The reporter asked curiously: "Mr. Fang, how many Sohu and Netease stocks do you hold? If I remember correctly, your private equity fund was once on their shareholder lists, right?"

"In the beginning, it triggered a billboard line for US stocks. The selling price of these two stocks was about 2 million US dollars." Fang Zhuo gave an answer lightly. With the rise of NetEase, he still has some unsold stocks. Holdings, in fact, are more than originally predicted.

The reporter fell silent.

Even the camera behind him shook, as if marveling at the number.

"Then, what was the cost of buying them at the beginning?" The reporter stuttered and couldn't help asking.

Fang Zhuo thought for a while: "The cost is not high, and it cost more than one yuan to buy."

Netease has the lowest cost, less than 1 dollar after the suspension last year, and its increase is quite astonishing to catch up with Sina.

The reporter was silent again, and asked after a few seconds: "Mr. Fang, is this the legendary value investment?"

Fang Zhuo laughed loudly: "It's just value investing + luck. Even so, this money is still far from investing in semiconductors, so we are talking with some internationally renowned investment institutions to see if we can fill this position."

The reporter asked: "Can it be filled?"

"I don't know. I'm working hard. I've met some new friends, and I've also found some old friends, such as IDG, our shareholder of Yike. They didn't plan to invest in this project before." Fang Zhuo put on an old friend, "Then seriously After learning about our project, they are actively planning to invest money."

Fang Zhuo really asked Old Xiong if he had invested money before he returned to the capital.

Xiong Xiaoge refused very firmly, without any intention of thinking about it. He thought in his heart that the payback period of this project might be unexpectedly long.

However, as an old friend, he also said that no matter who is considering an investment project, he can support the scene in various ways at the first time.

"Mr. Fang, many people are curious, why did you choose semiconductors? This industry seems to be a bit thankless. Especially, you can easily get huge wealth by selling Sohu and Netease stocks. industry?" The reporter asked a long question.

Fang Zhuo has different answers to different people. Now facing the official media, he thought about it and said: "Standing on the wind, pigs can fly."

"Just like the take-off of the Internet industry from last year to this year, this is the development of the wave of the times. My entry into semiconductors is based on the judgment of the situation."

"If my judgment is right, there will be a good fab in China. If my judgment is wrong, then it will be wrong."

"I like the key points in the development of this wave of the times, and it's very interesting to be a part of it."

At this moment, the reporter thought of the title of the report - "Standing on the vent, pigs can fly".

As for whether it is a tuyere, and whether the pig will fall after the tuyere passes... This is something that can be left to the audience to discuss.

The interview continues.

Fang Zhuo did not evade the question, and answered most of the things that made everyone curious.

This project is extremely magnanimous, and there is nothing to hide. Except for the target of poaching people, everything else can be revealed.

Also from the mouth of a rich man, the phrase "Standing on the wind, pigs can fly" was quickly posted on various BBS forums, and once occupied the comment section of different news on Sina.

What kind of outlet does this have to blow a pig with a scale of tens of billions?
Such a confident statement made many people who were pessimistic about the future hesitate. It seems that Mr. Fang is not aimless, and it is impossible to invest so much money indiscriminately. Is semiconductors really promising?

After a little understanding, the high threshold of the fab has dissuaded many people from entering the tuyere.

It is worth mentioning that just when Fang Zhuo's words aroused heated discussions, the next day's Sohu stock price made Zhang Chaoyang call it bad luck in his Beijing office.

Everyone didn't know where Fang Zhuo's funds came from before, but this time they knew that he had sold his shares in Sohu and NetEase.

Well, no matter what the reason is, the rich man sold it, so let's take a look at the stocks of these two companies.

NetEase is better, because it has extremely solid game performance, but even so, the strong upward momentum yesterday stopped abruptly, but it did not fall like Sohu.

The employees of Sohu and Netease are very aggrieved. It is so ironic that their stock prices are fluctuated by the bosses of their competitors!
But they were also very tongue-tied at the same time, Mr. Fang made a lot of profit from this sell-off.

value investment?
Oriental Buffett?
This operation made many stockholders drool, and correspondingly brought up the popularity of some MIGA funds in China. Even if the big money is won by the fund boss, it would be nice for everyone to drink some soup.

Fang Zhuo didn't expect this kind of development, which was a kind of unexpected joy.

Before preparing for the fourth investment meeting, he called Deutsche Bank, Goldman Sachs, and DCM, and said that IDG would enter this time.

At the same time, he also had some private communications with Goldman Sachs and Deutsche Bank, intending to really open a breakthrough at this meeting.

August 8th, Wednesday afternoon, Hang Lung Yike meeting room.

Xiong Xiaoge, an outsider pretending to be an investor, arrived first. He watched Goldman Sachs' Xu Kaiwei communicate with Fang Zhuo after entering, and saw Deutsche Bank's Zhang Hongli give Fang Zhuo a look after entering.

Seeing this, his heart moved, and he asked Fang Zhuo in a low voice: "Do Goldman Sachs and Deutsche Bank know the tacit understanding between each other and you?"

"The two of them probably don't know each other. I don't know whether they communicated in private." Fang Zhuo shook his head slightly.

As soon as the president finished speaking, the door of the conference room was pushed open, and Connor from DCM came in with the team.

At this moment, the eyes of Fang Zhuo, Zhang Hongli, Xu Kaiwei, and Xiong Xiaoge all lit up, and they all showed the most sincere smiles on their faces.

(End of this chapter)