My Age of Investment

The next day, in Xinxin Group's office in Singapore, Xia Jingxing and his team sat on each side of the table with the Temasek investment team brought by Huo Jing. The two parties sat at attention, bathing in the morning sunlight pouring in from the floor-to-ceiling windows, and started negotiations.

"Mr. Xia, is this your latest strategic development goal for Xinxin Group?"

Huo Jing stopped flipping through the documents in her hand and raised her head to look at Xia Jingxing, who was sitting directly opposite, with a calm expression.

"Yes, Mr. Huo, what do you think? If you have any disagreements or objections, you can raise them and we will negotiate and resolve them together."

Xia Jingxing looked at the little old lady across from him with a bright smile. To fully realize a series of strategic ideas of New Core Group, it would be impossible to do without the strong support of Temasek CEO, who has hundreds of billions of dollars in assets.

Therefore, today he had to spread another piece of pie to the old lady that he had just spread to her husband yesterday.

Huo Jing smiled and said, "Mr. Time hits the number one spot in the industry.

In order to achieve this goal, Qimonda was acquired first and then Elpida was annexed. "

“Yes, strategic mergers and acquisitions are the only way to quickly expand the semiconductor industry.

Now that the memory chip market is undergoing a major reshuffle, it is a good opportunity to cover our entry. "

Huo Jing nodded slightly, "To be honest, Mr. Xia, your strategic concept seems very good to me, but have you considered the management disconnect, increased debt, and cash flow depletion caused by the rapid expansion of Xinxin Group?

Of course, I am not deliberately trying to find fault, but I am communicating with you, Mr. Xia, realistically. "

"Haha, Mr. Huo, you are too polite. In my opinion, your questions are normal. You are also concerned about the development of Xinxin Group.

If you have any questions, you can ask them directly and I will answer them one by one. "

After saying that, Xia Jingxing began to answer questions.

"You don't need to worry too much about management disconnection. Fuxing Industrial has grown through continuous mergers and acquisitions. There are many middle and senior managers from Fuxing Industrial in Xinxin Group. All of them have rich experience in industrial mergers and acquisitions, asset restructuring, restoration, etc." experience.”

"As for the debt issue, the current asset-liability ratio of Xinxin Group is still at an extremely low level, far lower than that of its peers. This is because we hardly used debt instruments to acquire Chartered Semiconductor and Marvell Electronics, and all used cash."

"Currently, Xinxin Group has about US$2.5 billion in cash on its books. If leverage is used, it can easily launch tens of billions of US dollars in mergers and acquisitions projects."

…

Xia Jingxing analyzed Huo Jing one by one. The core point revolved around one thing. Money should not be kept for future generations. It should be spent as soon as possible to acquire high-quality semiconductor assets, and it should be sooner rather than later, because if you start late, you may end up in someone else's basket. .

After listening to Xia Jingxing's story, Huo Jing felt that most of it made sense, but she still couldn't help but feel a little worried.

However, seeing that Xia Jingxing acted in a more forthright manner, Huo Jing didn't want to continue to be coy, and simply made her doubts clear.

"Mr. Xia, in principle, I support Xinxin Group's entry into more semiconductor segments.

Storage chips are not an ordinary segmented field. Chinese manufacturers are famous for their strength in this industry.

Especially Samsung, they can work hard for ten or eight years without making any money, but they still have to destroy their opponents.

Samsung has the financial backing of the entire group, which is incomparable to New Core Group.

There is also the Bangkok government, which is famous for protecting shortcomings. Behind several countercyclical investments in semiconductors and panels, the Bangkok government was involved.

With the support of the government, Samsung and Hynix do not have to worry about debt, and can freely lose money to grab market share and attack competitors from all walks of life.

Our Singapore...is a small country after all, and its total GDP and fiscal revenue are smaller than those of big countries. "

At this point, Huo Jing stopped talking. Her meaning was very clear. Po County did not dare to play this kind of life-and-death industrial war with the Bangguo government.

Xia Jingxing smiled and said nothing. He turned and exchanged glances with Fu Jixun next to him.

Lao Fu is really accurate. Temasek and Po County seriously lack courage!

Talking about fiscal revenue and GDP are all nonsense. There is one and only one core reason. Temasek is only a 20% shareholder of New Core Group, so there is no need to be so desperate.

Seeing that Xia Jingxing remained silent, Huo Jing guessed that the big financier from mainland China might be a little dissatisfied. Wanting to lighten the atmosphere, she said, "Mr. , but considering it from the perspective of the recent establishment of Xinxin Group.

I think Xinxin Group has developed a little too quickly. It would be better to adjust the pace and maintain sufficient development potential.

After the businesses of Marvell Electronics and Chartered Semiconductor are back on track, it will be more appropriate to borrow money to acquire the two major memory chip companies. "

“In that case, it won’t be our turn to make acquisitions, because Micron may rush to annex two memory chip manufacturers with a similar market share to them before us.

Samsung and Hynix will not just wait around, especially Samsung, which is now aggressively staking its claim.

If Xinxin Group wants to become a world-class semiconductor company, it can only face difficulties and defeat powerful enemies.

If you can't wait for your opponent to decline, you will just watch opportunities pass by, watch your opponents become stronger and stronger, and finally lose the courage to end the game.

One thing I admire about Singapore is that the entire country is full of vigilance and fighting spirit.

It turns out that Singapore is just a small port. With step-by-step efforts, it has become a developed country today. It also has a number of technology industries and the entire country's economy is full of vitality.

This is in sharp contrast to Hong Kong Island, which is resting on its laurels!

If New Core Group wants to take a share of the semiconductor industry surrounded by powerful enemies, I think Singapore’s development history and reasons for its rise are worth learning and learning from. "

Huo Jing smiled slightly. Xia Jingxing kept talking about Singapore's development experience, so she didn't know what to say.

Deny what the other person said? That is to deny Singapore's development path and success.

"The Chinese are a hard-working and intelligent nation. In terms of semiconductor talents, we are no worse than the United States, and even better than them. If we search carefully, nothing will be a problem.

Speaking of capital strength, for the time being, Xinxin Group is worse than Samsung.

But when Xinxin Group is in trouble or faces fierce market competition, Daxia Capital, as the major shareholder, will not stand idly by.

At present, Facebook, Domestic Holdings, Fuxing Industrial and other companies have achieved good development results. Whether it is selling old shares on the market or raising funds through other methods, Daxia Capital can raise a large amount of funds.

If Samsung and Hynix want to repeat their old tricks and attack the fledgling Xinxin Group's storage chip business, then we have no reason to avoid it and we will stay with you until the end! Defeat them like they once defeated the Japanese!

Of course, it is true to say that we have prepared this number for Xinxin Group! "

Xia Jingxing gave Huo Jing a show of strength, which made the old lady laugh. Only then did she remember that the other party was still a kid in his twenties, and her anger at the other party's sudden grab for her advantage and his use of words to block her dissipated a lot.

"I know Mr. Xia that you have strong capital, but I still want to remind you that industrial war is extremely dangerous. If you are not careful, you will lose everything."

Xia Jingxing smiled and said, "Thank you, Mr. Huo, for reminding me, I will pay attention to this.

But I also want to remind Mr. Huo that industrial take-off is never something you wait for, but takes the initiative. "

Huo Jing was speechless again. She understood Xia Jingxing's hint. The take-off of Xinxin Group was driven by the take-off of the entire Singapore semiconductor industry.

If Singapore does not provide cooperation and expression, this golden phoenix may fly to other places to settle down.

In fact, apart from the Chinese and Japanese, Singapore is the best location for the semiconductor industry in Asia. Chinese engineers can also be sent to work in the mainland, and it is easier to adapt to the environment and language.

As for Wobang Yi, Xia Jingxing would definitely not consider building a factory there, for reasons that need no elaboration.

As for Europe and the United States, in principle, in addition to meeting the needs of the local market, we will not build more factories and R\u0026D centers.

In short, Singapore is very suitable, but if Huo Jing is really broke, Xia Jingxing will not just turn around and leave, but will at least try to transfer part of the production capacity and industry to give her some color.

Of course, this is a lose-lose solution. Xia Jingxing's industrial kingdom still needs Singapore as a bridgehead.

Looking at Huo Jing's current attitude, Xia Jingxing is not very satisfied. What big things can be accomplished by looking forward and backward.

Of course, this may be a disguise by the other party. The real idea is to take advantage of the semiconductor industry without taking risks. Daxia Capital, the major shareholder of Xinxin Group, will go out to make trouble, and Singapore will sit back and reap the industry dividends. , if you fail, your losses will be limited.

People from Po County must be shrewd and very good at playing both sides, and they want to use this trick on Xia Jingxing.

But Xia Jingxing asked Huang Dongsheng for advice on how to tightly tie the government, so how could Temasek stay behind so easily?

If there is a fight between Xinxin Group and Samsung in the future, and the government of Bangkok contributes money and effort, is it reasonable for the government of Po County to stay behind?

Although Xia Jingxing is not afraid of an epic money-burning battle with Samsung, from a practical point of view, bringing in a partner to share the losses is the best solution.

Next, New Core Group must tie Po County firmly to the charging chariot, so that it does not have to worry about Po County jumping out of the car in the middle of the road. Either the stick will fall down, or the Po County semiconductor industry will be knocked down by the stick. There is no third way to choose.

Another advantage of doing this is that for Americans, it's just dog eating dog. They don't help each other or interfere, and they just sit back and watch the show.

Huo Jing's face kept changing, as if he was struggling and weighing. He was silent for a long time before speaking again: "Mr. Xia, if you are willing to invest US$20 billion in Singapore's semiconductor industry, we, Temasek, will invest US$5 billion."

After saying this, Huo Jing breathed a long sigh of relief, as if he had made some important decision.

Xia Jingxing had to hold back his laughter, that's it? It takes half a day to think about it.

"The US$20 billion is just a long-term investment plan, and there is no telling whether it will be put to use. "

Huo Jing's eyes widened immediately, as if she had recognized Xia Jingxing again. Didn't you just say that you would invest 20 billion US dollars? Appetizing?

Xia Jingxing smiled slightly. Of course he could afford the $20 billion, but taking it out would be equivalent to emptying his own pocket and leaving no way for him to escape. Can he go to such great lengths to develop the semiconductor industry in Po County?

“The US$20 billion still needs to be invested, but it’s just not us. We have found an interested strategic investor... to be more precise, they came to us on their own initiative.

They are very interested in the development concept of Xinxin Group that we have proposed, and they are willing to help us with all their money... Well, saying "all their money" may be a bit contemptuous and underestimate their strength.

Lao Fu, why don't you come and introduce the identities of our strategic investors to Mr. Huo, as well as their various interests and demands! "

Hearing this, Fu Jixun immediately stood up and looked at the curious eyes that were thrown at him with a smile.

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