Saturday, June 20, 1992.

At 2 o'clock in the afternoon, the board meeting of Mingjun Ruohua Music Co., Ltd. was held in the company's office in Shuangyushu, Dianhai District, and the meeting was presided over by Yu Ming, chairman of the company.

Yu Ming said:

"Ming Jun Ruohua Music Co., Ltd. has been established for more than half a year, in accordance with the provisions of the company law, the company to regularly recruit two board meetings, today's meeting, is the first regular meeting this year, there are 4 meeting topics, first, by the company's general manager Xue Jun for the company's first half of the work summary report, second, by the company's financial director Xu Zhiruo for the company's financial report for the first half of the year, three, to discuss the company's recruitment of staff, fourth, to discuss the start of the company's additional investment, the following by Xue General Manager to make a summary report."

Xue Jun opened the printed work summary report in front of him and read:

Time flies, and half a year has passed in a blink of an eye. Looking back on the past, with the care and support of the company's board of directors, our company has achieved brilliant results in this half a year.

I would like to briefly summarize my work in the first half of this year as follows:

1. Organizational construction

Since our company's leadership team consists of only 4 people and lacks the position of Chief Executive Officer, the position of Chief Executive Officer is temporarily shared by me and CFO Xu Zhiruo, and the work of Chief Executive Officer is temporarily completed by me and CFO Xu Zhiruo.

2. Cultural construction

Pay attention to the construction of corporate culture, refine the corporate culture of "integrity, practicality, high quality, and first-class", form the core values of "dedication and dedication, highlight excellence", adhere to the business philosophy of "endless pursuit of excellence, keep pace with the times and create the future", uphold the corporate mission of "integrity based on society, set up industry benchmarks", do business with love, behave with gratitude, and achieve good results through continuous marketing innovation and positive progress, and have been recognized and encouraged by all sectors of society.

3. Team building

Organize the company's senior executives to participate in Moore development training to cultivate the unity and cooperation ability of the company's leadership team; Organize senior executives to participate in professional quality and business etiquette training to improve professional accomplishment; Organize senior executives to participate in the course training of "Corporate Culture: Let the Enterprise Have Life", so that the executives can more clearly identify with the company culture.

Fourth, performance construction

In half a year, due to the team's cooperation, the performance has achieved remarkable results. First of all, the company has signed cooperation agreements with many music websites such as Haoting Music Network, Ten Cool Music Network, and Original Music Network; Secondly, the company has signed cooperation agreements with 26 TV stations, including Sky TV, Chuyuan TV, Shangjing TV, Daiwa TV, Korean TV, Mongolian TV, Liangguang Satellite TV, and Northeast TV.

In the first half of the year, the company's "Pink Memories", "Wine and Coffee", "Flower Full Moon Night" and "Heart Will Walk with Love" quickly became popular all over the country, and the sales performance was good, which made our company's efficiency improve significantly.

The company's achievements are inseparable from the support of the board of directors and the cooperation of the company's members. We will work harder to create a better situation and achieve better results.

That's it for my report, thank you!"

After Xue Jun finished speaking, Xu Zhiruo made a financial report, and Xu Zhiruo asked two accountants to help make the financial report.

Xu Zhiruo talked about the company's accounting statements, balance sheet, income statement, cash flow statement, and the company's latest share capital structure.

Mingjun Ruohua Music Co., Ltd. currently has no debt, the company's profit reached 1.5 million yuan in the first half of the year, and it earned back all the investment of the company's shareholders in half a year, but the cash flow was insufficient.

After the first board meeting, the company has converted its profit of 500,000 yuan into share capital, and the company still has 1 million yuan of undistributed profits.

After Xu Zhiruo finished speaking, Yu Ming stood up and said:

"The profit of 1 million yuan in accordance with the resolution of the first board of directors, and then converted into share capital, to solve the problem of the company's cash flow, in this way, the three of you have completed the original subscription of the company's shares, the registered capital has a gap of 2 million yuan, I subscribed for another 1 million yuan, and the other 1 million yuan of funding gap I have contacted an investor Liao Chengde, the funding gap will soon be in place, the company's cash flow problem will be solved."

After Yu Ming finished speaking, Xu Zhiruo used the mobile phone calculator to calculate it and said:

"According to Chairman Yu, after the company's registered capital reached 5 million yuan, the company's investors reached 5 people, and the capital investment was 2 million yuan for Yu Ming, 1 million yuan for Liao Chengde, 800,000 yuan for Xue Jun, 600,000 yuan for Feng Huali, 600,000 yuan for Xu Zhiruo, and the shareholding ratio of the five people was: Yu Ming 40%, Liao Chengde 20%, Xue Jun 16%, Feng Huali 12%, Xu Zhiruo 12%."

Yu Ming's establishment of a music company is just a temporary interest, and is not willing to invest too much money, at present, the profitability of Ming Jun Ruohua Music Co., Ltd. is already very good, but compared with Yu Ming's profitability in the stock market, the gap is huge, so Yu Ming said:

"I look at it this way, let Liao Chengde invest 1 million yuan, and I will not invest the remaining 1 million yuan, everyone knows that my ideal is to build an economic power, my goal is not only here, I don't want to invest too much energy in Mingjun Ruohua Company, anyway, you also have some net worth, and the three of you will invest another 1 million yuan, what do you think?"

Xue Jun had long wanted to invest more money, and said:

"I'm okay with that."

The company's prospects are very good, Xu Zhiruo is happy to pay out of her pocket, and she has earned a lot of appearance fees for performances in the first half of the year, saying:

"I don't have a problem with it, it's just that some of my money has been sent home, and I can't subscribe much."

Feng Huali said that she felt that the company's prospects were very good, and she was unwilling to let others invest in it, so she said:

"When the company was founded, we really couldn't get more funds, and now we have a certain economic capacity, Liao Chengde's gap of 1 million yuan, I think a few of us should be able to buy and make up, no need to cheap outsiders, right?"

Anyway, as long as the funds can be in place, it doesn't matter who pays for it, so he said:

"I have no opinion, General Manager Xue, what do you think?"

Feng Huali's proposal was right in the middle, and there was no reason to object, Xue Jun said:

"I agree to do so."

The general trend has been decided, Yu Ming said:

"The funding gap of 2 million yuan, it is best for you to eat all of it, and I will make up for it if you can't eat."

Yu Ming looked at Xue Jun and said:

"Mr. Xue, you'd better subscribe more and become the company's largest shareholder, I will give you the chairman of the company, I may be absent from the meeting of the company's board of directors in the future, and it is not appropriate to be the chairman again."

Xue Jun nodded and said:

"Okay, no problem, let the two beauties subscribe first."

Xu Zhiruo: "I can only add an additional investment of 500,000 yuan. ”

Feng Huali thought for a while and said, "I will invest an additional 600,000 yuan." ”

Xue Jun: "Then I'll cover the remaining 900,000 yuan." ”

Yu Ming says:

"Then it was decided that our company will not introduce investors, the funds will be in place within a week, Xue Jun will be the chairman and general manager of the company, and I will be the vice chairman of the company, do you have no opinion?"

Several people unanimously passed Yu Ming's motion.

In this way, the company's share capital structure is 5 million yuan, and Xue Jun invests 1.7 million yuan, accounting for 34% of the total share capital; 1 million yuan, accounting for 20% of the total share capital; Feng Huali 1.2 million yuan, accounting for 24% of the total share capital; Xu Zhiruo 1.1 million yuan, accounting for 22% of the total share capital.

Although Yu Ming has become the least investment, he is the earliest initiator of the company and has made the greatest contribution to the company, and there is no objection to him being the vice chairman.

……