July 10, 2007 was an ordinary day for the vast majority of people.

But for the sharp-eyed financial veteran, this is a pivotal moment.

Standard & Poor's downgraded subprime mortgage bond ratings, and the news immediately caused a big shock in global financial markets.

New York.

West Coast Capital Office.

Tormented Tony Tsai and Paul, staring at the news on their computer monitors in amazement.

It took them a while to make sure their chance had come.

They both know all too well what it means to downgrade subprime mortgage bonds, and it's not just a question of subprime mortgages, it's a big problem involving the trillions of financial assets that come out of it.

Now it's finally been lifted by the S&P.

Then they can sleep peacefully.

The Dow Jones' pullback in late June, which only reduced the loss of their short index position a little, did not make much of a difference.

But now it's different, now S&P has unveiled the new clothes of the Yellow Emperor on the real estate subprime mortgage, which has long been in the decline of the real real estate market today, relying on the derivative financial products of the real real estate market, finally unable to withstand the decline of the real market, and has begun to reevaluate on a large scale.

Immersed in subprime loans for so long, Tony Cai has long been an expert in this field, but he is not as accurate as Liu Ruoyi, and knows that sooner or later the market will collapse.

Therefore, there is no fear of floating losses in the early stage.

Tony Cai does not have Liu Ruoyi's foresight, and he is completely unpredictable about the time of the collapse of this market, he is afraid that no matter how strong the capital is, he can't help the torture of long-term losses.

But now, seeing the S&P's action. Tony Chua was reassured.

Sure enough, more than a week later, Bellston, one of the top investment banks, was the first to be unable to resist, and the subprime loan hedge fund designed by him failed completely, losing boundlessly, and even Bellston began to be in jeopardy.

After the news broke, Bellston's stock price plummeted!

Dow Jones, having broken through several important moving average supports, began to slide towards the bottomless abyss, never looking back.

Seeing that there are new profits on the trading account every day, the floating losses are quickly erased, and the floating profits begin to increase the numbers.

Tony Chua was ecstatic and palpitating.

The reason for the joy is self-evident.

As for the reason for the fear, he was a little afraid of Liu Ruoyi's astonishing prediction.

Are such people really human beings?

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Liu Ruoyi has long known about this financial turmoil, so no matter the ups and downs, she will sit and watch the clouds rise and fall.

So the mind is not on this at all, in addition to ordering the various investment traders to lock up their positions and stand by, the financial investment department can also apply for leave.

This shows that Liu Ruoyi has no intention of making a profit in the short term.

There is only one chance in both lives, and of course it will not stop at a taste.

Liu Ruoyi is now focusing on the careers of several technology companies in her hands.

Although PCCW doesn't care about the specific business, Liu Ruoyi still has to go out in person for major events such as mergers and refinancing.

After the first batch of operators such as Kowloon Telecom and Digital Communications were digested and absorbed, PCCW has greatly improved the service quality level of both fixed network and mobile communications, and after integration and adjustment, PCCW's service capacity has been greatly improved.

As a result, most of the remaining competitors can only submit to each other and are forced to sell to PCCW, so that, except for operators who rarely serve the marginal areas, the mainstream market area of Xiangjiang dominates the country!

After the completion of the integration of the Xiangjiang market, Las Vegas was naturally absorbed, and the next step was to enter the treasure island, directly acquire one with financial resources and forcibly break in, and become the top three on the island in a short period of time.

Then went south to get 3G licenses in Thailand, Malaysia, Indonesia and the Philippines, and was allowed to carry out mobile telecommunications services, which was already the beginning of the financial turmoil in early 2008, Liu Ruoyi obtained the right to operate mobile services in these countries at a relatively small cost in the crisis.

The familiar model of PCCW did not collapse the market, but rather enthusiastically solved the capital demand of more than 30 billion yuan, and Liu Ruoyi invested less than 10 billion yuan in it.

The substantial dilution of his shares did not make Liu Ruoyi lose his dominance, but in addition to the financial queen, Liu Ruoyi also increased the title of telecommunications queen again.

It can be seen that real money opens the market, and compared with Xiao Li, who is dazzled by capital operation but keeps shrinking his business, Liu Ruoyi is too strong.

The former prodigy, under the light of Liu Ruoyi, has begun to faintly spread the reputation of the tiger father and dog son among the people.

In this regard, Li Lao Er was unwilling, but helpless.

He still retains the status of the second shareholder of PCCW, to be honest, he has long wanted to leave, but Lao Li disagrees, hoping that he will get up from where he falls, and continue to pay money in the capital increase and share expansion so that Li Lao Er retains the position of the second largest shareholder.

Who knew that Lao Li's investments had an amazing return again, with the current market value of more than 250 billion PCCW, and now Lao Li's shares are worth more than 50 billion.

Of course, compared with Liu Ruoyi's current more than 40% shares, these are a bit trivial.

Just at the stall of Liu Ruoyi's staking of the stake, Liu Ruoyi finally discovered the information she was familiar with, HTC was going to jointly develop an Android phone with Google.

At the beginning of 2008, HTC's life was not easy, the Android system was only released in November 2007, and the industry thought HTC was crazy to choose such a new operating system to develop a new mobile phone.

But Liu Ruoyi doesn't think so.

Saipan and Mobilephone, which seem to be in full swing now, will be tragic characters who are always blown away by the rain and wind in the future.

Rarely, Liu Ruoyi took the initiative to meet with the boss of HTC Holdings this time.

After the two women met, they talked for less than half an hour before reaching an important investment agreement, in which PCCW invested $1 billion in HTC, which is enough to occupy nearly 40 percent of the stake in terms of market capitalization.

But Liu Ruoyi took a step back, and only 37% was needed, making the original boss the largest shareholder.

However, the two parties agreed that the investment will be fully invested in the development of Android phones.

In the future, Android mobile phones are the main direction of the company's development.

Compared with the Android mobile phone launched in the original time and space, HTC, which has deep pockets, has invested a more powerful R&D lineup in this time and space, and polished it according to the fruit mobile phone proposed by Liu Ruoyi as a benchmark.

To this end, Liu Ruoyi promised that PCCW would underwrite at least 500,000 pieces! Based on the target price of 4,000 Hong Kong dollars, Liu Ruoyi's commitment is worth at least 2 billion Hong Kong dollars!

This commitment has made the Android phone team work hard together with the Google R&D team, which also has high hopes for Android.

Obviously, there is no suspense that the future G1 will be much stronger than the original time and space.

There must be brave men under the heavy reward, not to mention that Liu Ruoyi directly sprinkled a rare big order.

This amount is nothing for the PCCW that now has tens of millions of users, and the activity of pre-depositing phone bills to send mobile phones is too advanced, and Liu Ruoyi doesn't want to launch it so soon.

However, the marketing combination of selling mobile phones with a discount of 1,000 yuan for pre-stored phone bills is quite powerful for enhancing the stickiness of PCCW users and opening up new customers!

The well-informed routine is different, and compared to the marketing methods more than ten years later, most marketing at this time still needs time to accumulate experience.

Although Liu Ruoyi is not a professional in marketing, she has seen it! There is no mystery at all about this kind of thing, not to mention that she has personally experienced it.

PCCW's series of combination punches is still a little unclear in the industry, but after analyzing Liu Ruoyi's past history, someone was shocked to find that Liu Ruoyi's layout was unexpected.

But the end result is too good to be a mess, and this kind of incan't see the situation is even more terrifying!

Therefore, in the telecommunications industry, some people exclaim that the time for a reshuffle may be coming.

PCCW is like an eel entering the telecom terminal manufacturing industry, which not only puts pressure on the competitors of the telecom terminal manufacturing industry, but also puts great pressure on PCCW's operator friends.

Especially the opponents of Treasure Island, they can't figure out how to play the cards next from PCCW, this seemingly empty way of playing makes them afraid but helpless.

Liu Ruoyi didn't think about it so much, and temporarily stopped inter-bank investment activities after investing in HTC.

The chips of Wall Street wool, which began to be cashed out gradually, turned into extremely substantial profits.

CDS goes without saying, it is basically like grabbing money, and the same is true for CDOs that sell short, in contrast, the shorting income of stock indexes in various financial markets is not too large.

For example, the Nikkei Stock Average options are bearish, and it is only 30% of the space that has been dropped, so that Liu Ruoyi's short position of about $30 billion "earns" less than $10 billion.

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...

And Zhang Rujin, who completed most of the investment in the first phase, came to Liu Ruoyi shortly after the Chinese New Year to seek funds for the second capital expenditure.

It just so happened that Liu Ruoyi increased the capital and expanded the shares of the Nikkei index shorting profits to Xiangjiang Zhongxin International, and he was too lazy to maneuver in the market.

Master Zhang, who has never had such a generous amount of money in hand, threw out two large orders for 28nm production line equipment without saying a word, which made the semiconductor processing equipment market, which seemed a little light because of the financial crisis, a little bright.

Thanks to Master Zhang's technical reserve team and the two big masters attracted by the high option pool, the 45nm production line, which is slightly behind the opponent for half a generation, was able to achieve corner overtaking, saving the time of the predecessors to go to the pit.

It can save about 3 months, and it will be processed in June/July 2008 when the trial production of 45nm process chips will be made.

With this highly certain expectation, Master Zhang went to the United States again and finalized the trial production test cooperation plan with Broadcom and Qualcomm, and the engineers of both sides have now begun to work closely together to formulate a thorough plan for the trial production test and the coordination of related technical interfaces.

As for the 32nm technology, everyone is still exploring now, and the corner overtaking method is not effective, so they can only rely on themselves.

Only with the trial production of the 45nm process, most of the 32nm process can be determined, and the remaining small part, I believe that after about a year, the same can enter the trial production state before the fall of 2009!

The 45nm and 32nm processes are inherently versatile and of the same generation.

Relatively speaking, there will be many new technical challenges when jumping to 28nm, and this is a horizontal line for the time being.

Whoever can run faster to mature 32nm, and then invest in the research and development of the 28nm process, may complete the research and development of the 28nm process faster.

And then in the future process war, gain a valuable first-mover advantage.

Zhang Rujin doesn't think his team can take the lead in solving the constraints of the 28nm process.

It's just that Liu Ruoyi has money, so Zhang Rujin naturally wants to fight hard, and after purchasing the equipment at home in advance, it is feasible to conduct basic research on the basis of the equipment.

This kind of staggered basic R&D work, of course, is very scary for capital consumption, and Zhang Rujin can't afford to play it without the support of big money.

But now that he has this capital, of course Zhang Rujin is not polite, and spends a lot of money to rob people and buy equipment.

As long as the R&D maturity cycle can be shortened, Zhang Rujin will not care at all if he has more funds.

Now what everyone cares about most is to get the new process as soon as possible, and in this invisible competition, from backward to leading.

Otherwise, in terms of the winner-take-all nature of chip processing, the company that comes up with the advanced process first can get the high-end customer orders with the largest profits.

The foundries that are inferior to the level of process technology can basically only take over some processing business with no technical content like picking up leaks.

This kind of order is not too valuable in any way. A high gross profit order machine will not be available to newcomers.

In view of this, Zhang Rujin is resolute and confident in the research and development of the best process investment in the current planning.

Moreover, after the new process is overcome, the previously promised options will be directly cashed out!

At the same time, the bonus has to be calculated separately, and all the heroes have the opportunity to redistribute the options in the option pool.

People who travel thousands of miles just for money can't say that it's wrong, at least that's what others need to support their families.

Zhang Rujin is already this age, of course, he sees these people very clearly.

Therefore, his motivation method is also simple and rude: do the results, and immediately reward them!

For Zhongxin International's competitors, the news that they were ready to test produce 45nm in mid-2008 made them smell that the storm was approaching, and the market competition would become more cruel in the future.

Due to process limitations, Zhongxin International in the mainland of the mainland cannot get orders for the latest model of chip processing, so the most profitable list will never fall on the backward second-generation process in the mainland.

However, Xiangjiang's Zhongxin International is different, they almost have process equipment and organizers that represent the current advanced technology level, and it is entirely possible to win these high-end orders after engaging in the research and development of customized processes.

Although there may be only a few customers at the beginning, after the trial production shows that there is no problem with the maturity of the process, the samples are taken out, and the Zhongxin International of Xiangjiang is very convincing.