Feng Zhiyao experienced the cruelty of the business world for the first time. You can never teach someone to be taught in a lifetime, but you can teach someone through experience in one go.
He never dreamed that his first lesson in the business world would be taught by Lu Feng.
The next morning, news of United Capital broke out again, making headlines in major media outlets, including some conspiracy theories. Lu Feng glanced at the newspaper briefly and then tossed it aside.
At 8:30 a.m., Lu Feng arrived at the entrance of the United Capital building by car. Today was definitely a fancy day for the employees of Hurricane Capital. Since they were all in the same office building, the employees of United Capital were mostly locals and looked down on the out-of-towners from Hurricane Capital to some extent.
However, starting today, United Capital is a holding company under Hurricane Capital, which is bound to excite Hurricane's employees.
Even if the executives of United Capital were reluctant, they still laid out a red carpet and put up a banner in front of the building today, which read: "Warmly welcome major shareholder Lu Feng and wish United Capital's eighth board meeting of 1997 a complete success."
There weren't many people from United Capital downstairs, but almost all of Hurricane Capital's people were downstairs, with Wei Yandan even standing at the entrance leading the applause.
"Welcome, Mr. Lu!" A woman in her forties, dressed in a gray business suit, shook hands with Lu Feng and introduced herself: "I am Xu Wanhua, the general manager of United Capital."
“Mr. Xu, I’ve met you before.” Lu Feng glanced around the room and said, “Everyone, don’t be too nervous. There won’t be any major changes. I believe everyone knows about my relationship with President Su. President Su needs to leave for a while due to some matters, and I’m just helping to manage things during this time.”
Sparse applause rang out from the audience; these seasoned corporate executives didn't believe a single word Lu Feng said.
Surrounded by a crowd of admirers, Lu Feng entered the building and immediately began the board meeting. The board now consisted of only five people, with Su Yourong absent. The combined shares of the remaining three were only a fraction of Lu Feng's.
There were indeed relatively few people, so Lu Feng brought over several senior executives to listen in in order to ensure openness and fairness.
"Now we will begin the first item on the vote. As the largest shareholder of United Capital, Mr. Lu Feng has convened a board meeting. The number of shareholders present and the shareholding both exceed 45%, which meets the requirements for convening a board meeting. We will now vote to issue 58.67 million new shares at a price of HK$10 per share, which will be fully subscribed by Mr. Lu Feng, the designated person. Please vote!"
Lu Feng raised his hand, while the three people next to him hung their heads. Wasn't this vote an insult to them?
"The voting results are now announced. Mr. Lu Feng has agreed to the share issuance. Yesterday's vote by listed and tradable shareholders was 5.8 percent in favor. The share issuance is valid! After the issuance, Mr. Lu Feng will hold 70 percent of the total share capital and will become the actual controller of United Capital."
Lu Feng led the applause, and the crowd followed suit with scattered clapping.
"Thank you all for your trust. I believe I can bring a fresh perspective to United Capital. Next, we will move on to the second item. United Capital currently focuses on securities trading, and its external investment accounts for a very small proportion of its overall operations. In order to make the company more professional, we will change its name to United Securities."
Following a vote at the meeting, United Capital officially decided to change its name to United Securities.
The meeting was short, lasting only two hours. Lu Feng, a senior manager, was not replaced. Replacing people right from the start could have a significant impact on the company's performance.
After the meeting, Lu Feng announced to senior executives that United Securities would take over the business of listing mainland state-owned enterprises, and that these businesses would be sustainable. Due to the low liquidity of the listings and the approaching delisting requirements, Lu Feng would reduce his holdings by no more than 10% after the share issuance.
There has been a significant increase in the salaries and bonuses of senior executives; only tangible financial incentives can quickly win people's hearts and minds.
"President Xu, the banquet that President Su organized before was very good. We should continue to organize it. You will be in charge of this matter. I trust women very much." Lu Feng patted President Xu on the back and said with a smile, "With me, you can use your talents as you wish. As long as you are willing to put in the effort, I will never treat you unfairly."
"Thank you, Mr. Lu. I will certainly live up to your expectations," Mr. Xu said with a beaming smile.
After settling things in, Lu Feng had lunch with the senior executives, then asked them to respond to the regulators before going upstairs to attend other meetings.
Upon returning to Hurricane, Lu Feng's first action was to call Zhu Lidong and tell him to return as soon as possible. He suggested that Sharp send a vice president over, as the company was currently focused on AMD orders. Lu Feng also told him to inform Sharp about the deep cooperation they had reached before leaving.
"I told you they were pressuring you not to cooperate with us, just so they could cooperate with us!" Zhu Lidong joked on the other end of the phone.
"Hahahaha!" Lu Feng laughed and said, "Anyway, we have to make them anxious, otherwise these people won't take us seriously."
"Then I'll book my flight for the day after tomorrow!" Zhu Lidong agreed.
After hanging up the phone, Lu Feng looked at Wei Yandan and asked, "What is President Liu busy with right now?"
“I just came back from Sweden a few days ago. I think I was at the Tianjin plant. The second-generation product is about to go into mass production. They brought a team and said they were doing the final testing.” Wei Yandan replied, “General Manager Zhang’s team is also there. They said the eight-inch wafers are also in trial production.”
"That's great! Let them stay in Tianjin. They can accompany the AMD team on a site visit at the end of the month. If we can secure the AMD and national procurement deals, the deficit for next year will be much smaller." Lu Feng leaned back in his seat and pondered for a moment before saying, "If we calculate it that way, our R&D funding for next year will be at most one hundred million US dollars. We'll be rich again!"
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