At 8:30 p.m., Su Yourong called back to say that the team had been found. They were tidying up in the office and also connecting a network cable. The team consisted of twelve people: five traders, two analysts, one manager, three veterans in international finance, and the last one was a relative.
"How can such a small team have people with connections?" Lu Feng wondered.
“That person with connections, his father is a high-ranking executive at Citibank. Because it involves account opening, transactions, and guarantees, the normal procedures definitely wouldn’t be fast enough. And out of these twelve people, he has the highest salary. I found him through connections. The team’s fee is HK$1.2 million per month. I’ll give you their phone number. You can talk to them when they’re done.”
Lu Feng was speechless; he really couldn't do without this connection!
After hanging up the phone, Lu Feng looked at Duo Duo, who was doing her homework, and sighed, "You should definitely study finance in college. With connections in the family, you can make money really fast!"
Duoduo glanced at him and said, "I don't want to work. I want to start a financial company and hire them to work for me!"
"The destined successor of Wall Street!" Lu Feng exclaimed and lay down on the sofa.
At 10:30 p.m., Lu Feng called Manager Li. The two had a brief conversation. Manager Li had ten years of experience in small currency trading, was very knowledgeable about the Thai baht, and was aware of recent events.
Manager Li said that the computer and internet connection were all set up, and the account would be activated tomorrow morning, allowing for normal trading at this time tomorrow.
"Okay, I'll arrange for someone to transfer the funds to the designated account tomorrow. I'll call you as soon as I have news," Lu Feng instructed.
That night, Wei Yandan had another phone conversation with John, this time with Liu Cheng, Zhu Lidong, and Du Guoying all present.
“Mr. John, we received instructions from President Lu today that we have drafted a list of core patent rights to be transferred, involving twelve projects including televisions, VCDs, radios, and home theaters, with 127 patent rights. We can transfer these patent rights to the group headquarters.”
"Mr. Lu Feng's 10% equity stake will be exchanged for the privatization of Jiafeng Group's R&D company. The R&D company will not assume any debts, equity-to-bond rights, or other rights under the Group's name. The R&D company's budget, which has already been allocated, will not be refunded. The equity incentive program for the R&D company's management will be automatically withdrawn. The equity incentive program for the Group's headquarters management will no longer enjoy any rights or obligations of the R&D company."
"After the signing of the privatization agreement, in accordance with local municipal requirements, you must guarantee employment for at least one year, refrain from large-scale layoffs, ensure the normal production and sales of the company, and ensure that you inherit all of Jiafeng Group's debts, obligations, local investment promotion benefits, and all rights and interests in overseas markets, including but not limited to........."
On the other end of the phone, John shook his head as he listened, while his legal team frowned. Lu Feng didn't want to give anything in return, directly offering equity in exchange for the privatization of the R&D company. With so much funding allocated last year, it was impossible for it to be spent in a short time; this money needed to be recovered.
What they want is very simple: after the R&D company is spun off, it is impossible for it to survive. This is not what Schroders wants, but what the people on Wall Street want. Otherwise, why would they buy Jiafeng?
Factories, brands, and sales channels—these things are very easy to establish with local support, especially for someone like Lu Feng, as long as there's money involved.
What they want is to drain the last drop of blood from the R&D company's heart, stop it beating as soon as possible, and then sell Jiafeng Group to Wall Street or a large European company, turning it into a distributor!
The two argued on the phone. John believed that the total amount allocated to the R&D company was $1.5 billion, which should logically be a budget of $500 million per year. However, $1 billion was allocated last year, and at least $500 million of that money should be returned, and the R&D company's accounts should be audited.
Liu Cheng disagreed and explained where the R&D company had spent the money and how much profit it had brought to the group, but the two sides remained deadlocked.
In the US foreign exchange market, the Thai baht has been the most eye-catching currency in recent days, with its market activity even surpassing that of the US dollar. Trading volume is skyrocketing, and speculators are jumping around wildly, making several points of profit in a single day.
Thailand is keeping a close eye on the exchange rate. As the Thai baht plunged at the opening bell, it then began to rebound. Within an hour, the baht rose from 42 baht at yesterday's closing price to 45 baht. Various research reports are flying around in the market, all touting that the baht should be worth 70 baht.
Many large investors in China are also speculating in foreign exchange, borrowing funds from all over the place, exchanging their chips for Thai baht, and then shorting the market. They sleep during the day and monitor the market at night, constantly making phone calls overseas to inquire about the latest market situation.
"Let me tell you, this time it's absolutely going to collapse. Thailand is powerless to resist. Today, the Wall Street Journal published a research report from Morgan Stanley. Thailand's economy is very weak. If Soros and Robertson put in a little more effort, the Thai baht will collapse directly. The reason it's in this limbo state now is because the higher-ups are showing leniency, you know?"
"I've made a lot of money these past few days, but it makes me uneasy. It's like I picked up money off the street. Everyone in the world knows that shorting the Thai baht makes money, but I have a vague feeling that something's not right." The man frowned as he spoke into the phone.
"Oh dear, no wonder you can't make a fortune. You're not afraid of such huge capital as Wall Street, so what are you afraid of with your few hundred thousand? Besides, I manage a lot of bosses here, some of whom are throwing tens of millions into their businesses." The other end of the phone sounded a bit noisy, and the man raised his voice, "I have something else to tell you."
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