Chapter 653 clears the obstacles

Xintong International and Charm Semiconductor, which are subsidiaries of Huijia Department, will definitely purchase equipment from Bolong Optics in the future, anyway, Bolong Optical's high-end lithography machine will be mass-produced in a few months.

But this time difference is also necessary to fight for it.

The only way to buy time is to acquire microelectronic equipment, integrate the advantages of two companies (Bolong Optics and Microelectronic Equipment), and quickly form economies of scale.

From this point of view, the successful acquisition of microelectronic equipment is the premise of the smooth cooperation between Huijia and Nikon.

"Acquisitions, it's not a big problem. There should be news from the Peak Capital side soon, no more than tomorrow at most. ”

Yang Hu promised to give a reply within three days that day, and Kitahara Kurusuke hinted that Nikon was one of the bigwigs behind Peak Capital, and Hu Yang said this with confidence.

"Mr. Hu, microelectronic devices are now facing suppression in North America. If we buy it, I don't know if it will implicate Bolong Optics?"

Dai Xiangjun asked this question very carefully, and from his heart, he didn't really want to drag it down.

According to the progress of Bolong Optics, there are still a few months to achieve mass production of high-end lithography machines, and it is not necessary to acquire microelectronic equipment.

After hearing this, Meng Rusong couldn't help but shake his head violently and said:

"Mr. Dai, I don't dare to agree with your point of view. Even if you don't have a lot of great technology in microelectronics, just a double bench will take you at least five years of hard work.

Can't you see the situation clearly? There is no such thing as a link or not. North America's suppression of the domestic semiconductor industry is a long-term process that will not change because of one thing at a time. I can say that if microelectronics falls, the next one is Bolong Optics. ”

Hu Yang glanced at Dai Xiangjun, this guy is very good at his skills, but he always lacks a sense of the overall situation. However, this person has been following his own pace, and it is not good to be too harsh.

"Mr. Hu, what should I do with my current order? Charm Semiconductor has been expanding its production capacity, and there are still a large number of production equipment to be ordered. ”

Huang Tao, who hadn't spoken much, asked a question at this time. The new factory of Charismatic Semiconductor also needs to order lithography machines. But now in this situation of microelectronic equipment, I really dare not guarantee whether the other party can deliver on time.

"Mr. Huang, the order that should be placed is still the same, I estimate that there will be some delays in the delivery of microelectronic equipment, but it will not be too long. ”

Hu Yang smiled at Huang Tao, so that he didn't have to worry too much.

Then he said to Zhang Xiao and Xu Younian:

"Mr. Zhang, you are responsible for the negotiation with Nikon. The other party wants to join our supply chain, and if the conditions are right, it is a win-win outcome.

Mr. Xu, the production and R&D base in Beijing still needs you to worry more. Looking back, you and Mr. Dai discussed, the company's independent research and development cannot be stopped, and the spare tire plan must be implemented for a long time. ”

Zhang Xiao has been busy with the construction of a new supply chain recently, and now Nikon has taken the initiative to come to the door and let him be in charge of negotiating the most suitable one.

Xu Younian and Dai Xiangjun have their own jobs, but one thing is very important, the company's core technology research and development can not be relaxed.

"Mr. Hu, your idea is very good, we have to learn to walk on two legs. Don't look at Nikon now taking the initiative to seek cooperation with us, but it remains to be seen how long this cooperation will last. ”

Meng Rusong is fed up with the fact that key equipment and technology are controlled by others, and he shares Hu Yang's point of view that the core technology must be in his own hands to be safe.

Hu Yang nodded and smiled at Meng Rusong.

Or Lao Meng understands his own thoughts.

At this point, the meeting is basically over. As soon as Hu Yang wanted to announce the adjournment of the meeting, he saw Wu Xinhui knock on the door and walk in.

"I'm sorry, Mr. Hu, excuse me. Mr. Yang from Summit Capital has been here for a long time, and he is still waiting for you in the reception room, you see?"

When Yang Hu called, Hu Yang was in a meeting. Wu Xinhui asked him to contact him later, but it didn't take long for him to arrive at the International Building.

Wu Xinhui didn't want to disturb Hu Yang, so she asked Yang Hu to wait in the reception room, which was more than an hour.

Yang Hu has asked several times when the meeting will end. Wu Xinhui was really annoyed by the other party, so she came to find Hu Yang.

"Ladies and gentlemen, that's it for today's meeting, and everyone is going to take action. Assistant Wu, you go and tell Mr. Yang, I'll go over right away. ”

After sending Wu Xinhui away, Hu Yang and Zhang Xiao chatted a few more words, and then came to the reception room.

"Mr. Hu, didn't delay your meeting, did you? I'm also a little anxious here, and I need to explain some things to you. ”

Yang Hu came this time, mainly for the matter of Kurusuke Kitahara.

To be honest, he and Wu Zunyou were both cheated by the big guy behind them in this matter.

Kitahara Kurasuke's true identity and purpose, he and Wu Zunyou are not clear. Who knew that this guy was actually from Nikon, and he suddenly felt that he was a head shorter than Hu Yang and Director You.

Director You didn't bother to explain, so he came to find Populus Hu first.

Hu Yang smiled, patiently listened to Yang Hu's explanation, and accepted his apology.

For the time being, there was no loss of microelectronics. Kurusuke Kitahara is very smart, and he has never been exposed to technical things during this time.

It's just that the people recommended by Summit Capital are so unreliable, and if they want to win key positions in the company in the future, I'm afraid that Hu Yang and Director You will not agree.

Therefore, Populus euphratica also sold Yang Hu a face.

"Mr. Yang, this matter is over. But in the future, I don't know about the candidates you recommend, but I will definitely strictly control them. ”

Face has to be given, ugly words have to be said in front, it is impossible for Populus euphratica to have no attitude at all.

"Hey, that's, that's. Besides, there may be further cooperation between us, and I can't always slap myself in the face, right?

Mr. Hu, I heard that you are about to talk about cooperation with Nikon? We have also discussed it, and when it comes to Nikon in the future, we really can't express our position. I have a new plan here, would you like to see if you're interested?"

Although Summit Capital has a background in Japanese capital, Nikon is not a major shareholder of the company.

Otherwise, Yang Hu and Wu Zunyou would not have realized this matter until now. In order to appease the two agents, the bigwigs behind the scenes said that they would not pursue the mistakes of the two in investing in microelectronic equipment, nor would they interfere with their disposal of this part of the equity.

Yang Hu and Wu Zunyou discussed, and hurriedly implemented the new plan proposed by Wu Zunyou, that is, to mortgage this part of the equity to Hu Yang, and then borrow some funds from Huijia.

In this way, you can not only make up some cash flow, but also avoid being caught in the middle of the two ends.

"Mr. Yang, your and Mr. Wu's ideas are quite interesting. However, if you pledge this part of the equity to me, I will act as a shareholder on your behalf during the mortgage period. I think you know exactly what that means, right?"

Hu Yang originally did not think that it would be very smooth to acquire the part of the equity of microelectronic equipment held by Summit Capital.

Proposing a tender offer is just a gesture, but I didn't expect Summit Capital to give itself a surprise.

The term of the equity mortgage is at least one year, and during this year, this part of the equity of Summit Capital will be held by Populus Hu on behalf of him.

Therefore, Populus euphratica deliberately emphasized it again.

Yang Hu shook his head with a wry smile and said:

"Mr. Hu, I understand what you said. Even if you want to increase your capital and shares during the mortgage period, that's up to you.

However, there is one point, the rights and interests of the original shareholders must not be infringed. You can finance at a premium, but not at a discount. ”

Yang Hu doesn't worry about other things, even if it dilutes Peak Capital's stake in microelectronic equipment, it doesn't matter. The key point is not to dilute the shareholders' equity, and he also expects the premium financing to raise some of the stock price.

"Okay, Mr. Yang, let's start negotiations as soon as possible. ”

Populus euphratica has put a lot of effort into acquiring microelectronic devices. Now that things have come to this point, there's no reason to drag them around.

So, he happily agreed to the principle plan proposed by Yang Hu.

"Thank you, Mr. Hu, I won't stay longer, I'll go back and prepare now." Tomorrow morning, I will send someone over and try to get this matter done within a week. ”

Yang Hu was not verbose, and immediately got up to say goodbye.

Now that the two sides have reached an agreement in principle, it is estimated that it may not take more than a week to sign a formal agreement.

Hu Yang asked Wu Xinhui to send Yang Hu out, and he himself made a phone call to Xia Bing and told him about the situation here.

Then let Wang Qingquan come to the office.

Anyway, it is a mortgage of equity, not an equity transaction, and Hu Yang is ready to sign an agreement with the other party in the name of Huijia International Investment.

The matter of principle has been decided, and only a few details remain. Hu Yang didn't want Xia Bing to go again, so he asked Wang Qingquan to come forward on behalf of the company, anyway, Wang Qingquan still had the title of deputy general manager of Huijia International Investment.

At present, Walker International Investment has 44.184 billion yuan of RBM and more than 10 billion Hong Kong dollars on the books, and the cash flow is very sufficient.

"Mr. Hu, now that the stock price of microelectronic equipment is so low, how much money can you borrow from the other party? If you borrow hundreds of millions, the peak capital can't do it. ”

The only thing Wang Qingquan couldn't get was the amount of money he gave the other party.

Hu Yang thought for a while and said: "Peak Capital mortgaged all the equity in their hands to us, and at most calculated at twice the price of net assets, that is, more than 4 billion." Well, you can talk to them first according to 4 billion yuan, and it cannot exceed 4.5 billion yuan at most. ”

Summit Capital currently holds 101.4 million shares of microelectronic equipment, with a total value of 4,461.6 million yuan based on the price of 22 yuan per share of net assets.

However, if calculated according to the current market average price of 12 yuan, the total value of this part of the shares is only 1.2168 billion yuan.

There is a big difference between the two.

Wang Qingquan hesitated, but still reminded: "Mr. Hu, if you borrow from Summit Capital at twice the price of your net assets, then they are very likely to run away with the money." ”

Previously, the share price of microelectronic devices had not fallen to this point, and Summit Capital and Nikon had an equity transfer agreement, and the transfer price of this part of the equity was 5.2 billion yuan at that time.

Of course, since this period of time, everyone knows that Summit Capital has a background of Japanese capital (in fact, Nikon), so the previous agreement will be a question mark.

Now that Hu Yang has promised Peak Capital to borrow up to 4.5 billion yuan, Wang Qingquan suspects that Summit Capital will take the opportunity to run away.

Hu Yang smiled and said, "Isn't that right? Okay, let's do it." Now you quickly draw a few people out to form a negotiation team, and they will come to negotiate tomorrow. ”

Hu Yang did not explain in depth, but Wang Qingquan suddenly realized that it was other people's shares that the boss was interested in.

Following.

Yang Hu personally led the team to the International Building and officially started negotiations with Wang Qingquan and others.

Everything else is easy to say, as soon as the negotiations began, the two sides were stuck on the total price. Yang Hu asked for a minimum loan of 5 billion yuan, but Wang Qingquan only promised 4 billion yuan.

On the first day, both sides sidestepped the issue for the time being, leaving all other details in place. After getting off work in the afternoon, Yang Hu came directly to the restaurant that he had made an appointment with Wu Zunyou.

"So, now there is only one question left of the loan amount? Mr. Yang, it is really not possible to take a step back tomorrow, and sign an agreement for 4.5 billion yuan.

They can't afford it, and neither can we. Nikon's side will soon start negotiations with Bolong Optics, and we have to hurry up. ”

Wu Zunyou doesn't care if it's 4 billion yuan or 5 billion yuan.

is different from what Wang Qingquan thought, what Wu Zunyou and Yang Hu thought from the beginning was really to borrow a working capital to operate, instead of mortgaging it and running away.

Since it is due, there is no need to care about more or less.

"Okay, Mr. Wu, I guess I'll be able to sign the agreement tomorrow. Come, have a drink, and wish us all the best. ”

There are some things that don't need to be said directly, and both of them understand the importance of this money.

With this injection of working capital, they can also find some short-term projects, so as not to be stuck in microelectronic devices.

As for this part of the equity, the two do not plan to sell. They are very optimistic about the negotiations between Nikon and Bolong Optics, and they also have some confidence in the future recovery of the stock price of microelectronic devices.

Didn't Hu Yang want to use Bolong Optics as the main body to acquire microelectronic equipment? Peak Capital simply handed over the equity to Hu Yang to hold on his behalf.

In fact, this clears the way for the next acquisition.

Today, Wang Qingquan quoted a total price of 4 billion yuan, and Yang Hu wanted to agree on the spot. But it seemed too obvious to do so, and he seemed a little impatient, so he put it off until the next day.

Next.

As soon as Wang Qingquan and Yang Hu met in the morning, they began to argue about the total loan amount. After a scramble, the two decided to take a step back.

Summit Capital pledged its entire equity interest in Microelectronic Equipment (101.4 million shares) to Huijia International Investment. Huijia International Investment borrowed 4.5 billion yuan from Summit Capital for a period of one year, and the interest rate was implemented according to the loan interest rate for the same period.

During the one-year period, Walkers International Investment is not allowed to transfer or re-mortgage this part of the equity, nor is it allowed to recover the loan in advance.

During the term, Peak Capital shall not repay the loan in advance and shall not release the mortgage in advance.