Return To 1990

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Lu Feng glanced across the entire audience and saw teasing expressions on many people's faces. Obviously, in the eyes of these people, this was a big horse-monkey show.

Last year, Lu Feng was still a high-ranking CEO with tens of billions of dollars. His contact with venture capital was Schroders Group, but now he is reduced to working with these small venture capital investors and having to report the value of the company in detail to them.

If it were an ordinary person, his mentality would have collapsed at this moment, but Lu Feng didn't care about any of this. He just asked someone to invest. That's it. Before you invest money, you are the grandfather and I am the grandson. Once your money is in place, it's your turn. You become a grandson.

"Everyone is well aware of the problem of overheating in the global semiconductor industry. Every industry has a cold period, a boiling point period, and a boiling period. From my perspective on the industry, semiconductors will have a sustained period of decline in the next two to three years. This recession is not an industry recession or a market recession, but a relative recession!"

"Everyone's expectations for semiconductors are too high, and the expansion is too large, creating vicious competition. In the past two or three years, semiconductors will be at cabbage prices. Price competition will lead to the bankruptcy of a large number of small and medium-sized enterprises. After the production capacity is cleared, prices will naturally It will rise back.”

"Why I say recession is neither an industry recession nor a market recession. There is absolutely no way that the semiconductor industry will decline in the future. Whether it is Fuso's companies or Silicon Valley, they are all working hard to break through new technologies. In the next few years, patents will definitely be The era of great explosion.”

"The market will never decline. The semiconductor market will expand at a rate of about 30% per year. I personally predict that in 2001, the market share will exceed 300 billion US dollars. The confidence in saying this is that the world is increasingly Growing communication needs, office and home computer needs, and mobile phone needs!”

"The main reason for the decline is man-made. The two companies, Miguo and Fuso, are trying to squeeze out others. To put it simply, 150 people came and cooked for 300 people. The purpose is to Smash other restaurants’ fault!”

"Then why the pot of Hurricane Semiconductor will not be smashed. First of all, we are a big country backed by the motherland. Big countries need to have their own industrial chains. The country also has the will in this regard and is willing to provide support. Secondly, Hurricane Capital owns equity in other companies. , you can move funds at critical moments and you won’t be easily pushed into a corner.”

"Third, market advantage. You may not know much about mainland China. Do you know how many mobile phone users there are?" Lu Feng asked, looking around at the crowd.

"Mr. Lu, apart from high-end talents like you, who else in mainland China can afford mobile phones?" someone sneered.

"Let me tell you, 6.85 million households! So what is the estimated number for this year? Let me tell you again, more than 10 million households. The market share will double or even multiple times a year. What scale is this? market?" Lu Feng saw that everyone couldn't believe it, and then asked, "Guess how many computers there are in mainland China?"

"Is there internet in mainland China?" someone asked in disbelief.

"In 1996, the number of computer households in mainland China was about 400,000. This year, it is expected to be more than 600,000. The growth rate is 50%. I won't go into details about communication base stations. The annual growth rate is more than 100%. The growth rate is so high. The market is Hurricane Semiconductor’s biggest reliance!”

"Of course, there is a gap between our technology and international first-tier manufacturers. If it was a few years ago, this shortcoming was our disadvantage, but now when the entire industry is about to fall into embarrassment, this will be our advantage!" Lu Feng said confidently.

After hearing this, the people present frowned and looked at Lu Feng as if he was a fool. This is like saying, someone slaps you, and you tell others that you slapped his hand with your face!

"If you don't understand, let me explain to you that the world's semiconductor development is now at a critical moment, that is, dry etching in Europe and the United States and wet etching in Fuso. Overcapacity will lead to low-value products. The final result of price competition is lower profits and lower income. Investment in R\u0026D will be reduced.”

"Both parties have focused on dry etching and wet etching, and the R\u0026D investment in other aspects will be reduced. For Hurricane Semiconductor, it is a good time to catch up. It may not be able to catch up in some areas, but we are in Lithography machines, chip design, packaging and testing, motherboards, displays, there is definitely hope in these areas!"

"When we survive the cold winter, we will occupy a place in the semiconductor field. This is why we need to raise funds. Financing is not to save lives in this cold winter, but to attack in this cold winter! Thank you everyone!"

After Lu Feng finished speaking, the scene seemed quite quiet. Several venture capitalists standing in the back row were moved. The country had the backing and invested money to catch up. As long as the cold winter is over and they come up with one or two competitive products, then this company Just stood firm.

A business practice that everyone originally thought was extremely risky, but when Lu Feng said this, there was almost no risk. Instead, it felt like a guaranteed profit without losing any money.

A man in his fifties sat on the chair next to him and asked, "Mr. Lu said it very lightly. He brought out one or two competitive products. This is not just a matter of words. The global semiconductor technology blockade is severe. Do you have any?" How sure are you of making it happen? You mentioned the mainland market. As far as I know, companies such as Intel, AMD, Sony, Sharp, and Siemens have basically settled in. You will face these first-tier manufacturers in the market."

"No matter how high the growth rate of the mainland market is, how much share can you capture? You can't survive in the mainland market alone. As for the overseas market, given the current international relations, Jiafeng Group's overseas market will be the fate of Hurricane Semiconductor, right?"

"Of course we cannot occupy all the mainland market. We are prepared to invest in market segments, such as monitors, accessories, PC motherboards, and memory markets. We do not expect Hurricane Semiconductor to make money immediately as soon as the market picks up. Instead, we will Ten years as a unit, we will carry out branding.”

"As for international relations, it is said that wars are unpredictable and forces are unpredictable, and the same is true for international relations. Looking at the interactions between countries from major mainstream media this year, it is not difficult to see that the most tense period is almost over. For this I have confidence in this matter!" Lu Feng said to the crowd.

Those on the scene did not buy Lu Feng’s remarks. The European and American markets are now the largest manufacturing and consumer markets. As long as any product cannot be sold in these countries, it basically has no chance of becoming bigger.

The Thai baht incident has frightened many people in Asia. The U.S. dollar has raised interest rates and a large amount of funds have returned. Everyone knows that this is a harvest, but for fear of war, the coins of weak countries will be no different from waste paper.

Venture capital is a multi-faceted matter, among which the most basic risk control is war. You must ensure that the company you invest in exists in a stable environment, followed by the market, and finally the company itself.

Seeing that everyone was not very interested, Su Yourong said, "Mr. Lu has already introduced the situation almost. He is not a new entrepreneur. From Jiamei Food to Jiafeng Group, he has extensive experience in business management, market, and industry. , Mr. Lu is a veteran, you can think more about it! Come on, let’s raise a toast!”

Su Yourong clinked glasses with everyone, and then the topic changed to daily gossip. The atmosphere at the scene relaxed a lot. Many of them came over to talk to Lu Feng, partly because they wanted to ask about the Feng family. The other part wanted to invest, but the conditions offered made people frown.

One of them asked Lu Feng to sign an absolute priority clause with him. As long as the company had operational problems or failed to meet the agreed requirements within the time agreed upon by both parties, the other party would have absolute priority to deal with Hurricane Capital's assets until the investment funds were withdrawn.

When Lu Feng heard such terms, he smiled and ignored him. Where in the world could such a thing happen? He didn't want to take any risks. If anything happened, he would sell the equity of Jiamei Food and Minsheng Bank first. He had made a good calculation. .

The other wants a controlling stake, investing 5 billion Hong Kong dollars in batches, and wants 51% of the equity of Hurricane Capital. He also wants to list Hurricane Capital operations within two years and make money through stocks.

This investor was also rejected by Lu Feng. What kind of skill could he use to deceive retail investors? Besides, how much money do retail investors have? Of course, making money is to make money from rich people.

At the end of the night, I drank a lot of wine, and my lips were almost worn out. There were many words that looked down on him, a mainland boy.

At eleven o'clock in the evening, after the dinner party ended, Lu Feng was sitting in the living room drinking tea. Su Yourong changed his clothes and opened the door and walked in. Seeing Lu Feng looking a little dissatisfied, he said, "Where is the financing?" Is there such a simple thing? Do you think it’s in the mainland? Besides, didn’t Jiafeng Group’s initial source of funds come from you to free up land?”

"It's like being a stranger in a foreign land!" Lu Feng sighed: "This is now. A few years ago, I would have had to smoke several people tonight. What kind of people are they?"

"I've told you before that the current financing environment in Xiangjiang is not good. If you still want to raise more than a billion US dollars, if you can raise money based on a valuation of HK$5 billion, just burn the incense."

Su Yourong poured herself a cup of tea and said: "How many months are left in July this year? How many people have fled to Xiangjiang after the Thai Baht incident broke out? You are engaged in semiconductors, and the main market is still in mainland China. How big is this? Are you brave enough to invest? If you ask me, there are only two options now, either go back to mainland China to raise funds, or accept this valuation!"

"Go back to the mainland? The mainland can only get money from the city and the province." Lu Feng knew that he would have no money to go back. Not to mention the poor places, even Shenzhen had no money. When he first discussed the plan with Schroeder to acquire their equity, It is also given in batches, and funding has to be allocated from above.

"Then there's really no way out. It's not realistic for you to go to Europe and the United States for financing!" Su Yourong said to him.

Going to Europe and America?

You can’t go to the United States, but to Europe, John must have promoted Lu Feng as a heinous and treacherous villain!

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