Wang Qinian and Wang Dongsheng met, mainly to talk about two things, which can be regarded as mutual benefit. Pen × fun × Pavilion www. ｂｉｑｕｇｅ。 ｉｎｆｏ

The partner company wants BOE to increase the mobile phone panel business to ensure that the partner company and the mobile phone manufacturers in the XOS camp have enough screens.

BOE is going to talk to its partners about financing, and it seems that it costs money to expand production capacity.

At present, BOE is ready to continue to burn money to build new production lines, relying on its own profit accumulation, I don't know when it can make money to expand production capacity. But with money in the capital market, combined with loans from syndicates and subsidies from local governments, the funds needed for the production line can be raised quickly.

Bank loans depend on the company's ability to repay debts, so BOE must first circle money, thicken its own capital, and enhance its ability to repay debts, so that the bank group can lend more loans to the company.

At present, BOE plans to issue 1.3 billion shares and raise 4 billion yuan to invest in a new 6th generation production line.

In the next few years, BOE will continue to stake land, several eight-generation lines, 8.5 generations, 10 generations of investment on the line, mainly relying on the stock market and bank loans, as well as local government financial subsidies.

BOE in the money-burning model, although it is doing a major event that benefits the country and the people and increases the domestic influence in the technology industry. But for the shareholders who invested in this business, it is only an object of exploitation! For a long time, it was very difficult for shareholders to see returns,

It is not until the future that BOE ends burning money and no longer focuses on scale expansion, it is possible to transform into an enterprise that returns shareholders.

Wang Qinian supports BOE's private placement of new shares, and fully agrees with the small partner company to subscribe for a part of the new shares. But...... For the funds raised by BOE and the direction of investment, the partner company has opinions.

According to BOE's original plan, most of them are to quickly launch some high-generation LCD production lines to produce large-size TV screens.

However, the small partner company does not agree, but believes that BOE Technology Company, once the funds raised, should invest in increasing the touch screen to meet the needs of the small partner company and other manufacturers for the touch screen.

As for the TV screen. Launching a few years later is not only not a bad thing, but even a good thing! After all, there is a growing surplus of TV opportunities. Mobile Internet is the outlet!

"Mr. Wang has made outstanding contributions to my country's panel industry, and history will remember you!" Wang Qinian said with a smile.

"But the shareholders can scold me to death!" Wang Dongsheng smiled bitterly.

What fills the gap in the country, solves the "lack of core and less screen" in the domestic electronics industry, and purchases tens of billions of dollars in foreign exchange every year for the screens of overseas manufacturers. The country has not only lost foreign exchange, but also lost a lot of jobs, and is more controlled by others. These should have been things that the country should have done at a loss, but it was BOE that did it.

Moreover, it is also a listed company, from the beginning of the listing did not plan to return to shareholders, but from the beginning of the listing in order to raise money, the development of the LCD panel industry, which is actually not too suitable!

Equity investment is supposed to be for returns. How did he become a living Lei Feng? Contribute to the country and the people? If it is a major shareholder of large capital, BOE can be hundreds of thousands of small shareholders, and many shareholders only invest thousands of tens of thousands of yuan, and they can't see a return in ten years.

Therefore, many people feel that this responsibility should not be borne by a listed company in the first place, but that the state should come up with a non-listed company that does not pursue profits, so that it is more suitable to assume this kind of strategic responsibility.

In other words, a company like BOE Technology should not be listed in the first place. From the beginning, we should raise funds through other channels to make the industry bigger and stronger.

This kind of cash-burning never-ending corporate listing. In fact, it has a negative impact on the capital market, and it also undermines the fairness of the capital market.

The LCD panel industry is definitely a money-burning industry, and the depreciation cost of the machine at the beginning. Finance charges such as bank interest. As well as the introduction of technology, digestion technology, and improvement of production capacity and yield, which are very expensive. What's more, manufacturers from Japan, South Korea and Taiwan have jointly suppressed new opponents.

Manufacturers in the rest of the world. The production of LCD panels has long been abandoned. The panels needed for TVs, computers and mobile phones are mainly controlled by manufacturers such as Japan, South Korea, and Taiwan.

China's consumer electronics industry has also been trapped in Japan, South Korea and Taiwan. The cost of imported electronic components each year is no less than that of bulk commodities such as oil and iron ore imported by China from overseas.

Not only is a large amount of capital earned by overseas manufacturers, but also, at a critical time, these manufacturers will get stuck in the throat of Chinese manufacturers, and then demand higher prices for scarce goods. Even...... If they launch their own products to compete with Chinese manufacturers, these electronic components are not even sold to Chinese manufacturers, or the delivery is delayed, so China must be able to make all kinds of components by itself.

Lack of cores and screens, a problem that has plagued China for decades. It was not until the 21st century that efforts were gradually made to gradually solve these shortage of resources.

For example, in the chip industry, because of market demand, China's chip manufacturers started from foundry, and gradually some core technologies began to master, starting from the end of the micro, but in the mobile era, it is a rapid rise.

Screen! It has been trapped since the 80s, but in the 21st century, Japanese panel manufacturers have gradually withered from the competition, and Chinese manufacturers have gradually become one of the top three.

Chip and other manufacturers are the efforts of other companies, especially the Chinese manufacturers in the ARM camp, which are really very competitive.

As far as the panel industry is concerned, China's technology accumulation is the fastest, and the most ambitious is obviously BOE.

"Billions of losses every year, even if it is a loss of tens of billions at most in ten years, but what? It can save hundreds of billions of foreign exchange for the country! What's more, to keep the industry and employment opportunities in China, and the technology patents have been created from scratch, I admire you most for these manufacturers of science and technology! Wang Qinian gave a thumbs up.

These words are only said by a big capital like Wang Qinian, and if you are a small shareholder, most of them are scolding such a company!

"Friends are the more influential technology giants!" Wang Dongsheng sighed, "XOS is directly an operating system, and we never dreamed that China would launch an operating system that is so successful in the market!" ”

"No matter how good the operating system is, it must also have hardware support, such as the screen!" Wang Qinian said, "At present, the screen has become a hot spot for mobile terminals, not only mobile phones, but also touchscreen versions of computers. Coming soon! I hope that after the successful private placement of BOE A shares, the funds raised will be more used for touch screen business, rather than PC and TV screens! ”

"But the touch screen area is too small, hundreds of dollars to top the TV!" Wang Dongsheng demanded.

"But the gross profit is high!" Wang Qinian emphasized. "Only by focusing on profit is the key! What is the point of not paying attention to profits, blindly pursuing large screen sizes and burning money to engage in 8th generation and 10th generation lines? The bigger the production line, the better! Of course, it is true that the screen of the TV set will get bigger and bigger in the future. But sales of the TV set itself will decrease. It's not the best place to invest right now! ”

"I'll take your suggestion to the company for discussion!" Wang Dongsheng said, "There is no problem in expanding the touch screen production line, at least it will ensure the supply of products from the small partner company!" ”

……

For BOE's investment, the partner company responded most simply, and the cash was ready.

However, within the small partner company, there is not no opposition. It's just that he was pressed down by Wang Qinian!

"Boss, it's not worth it to buy BOE! A state-owned enterprise, we cannot hold a controlling stake. It is also impossible to dominate! Zhang Wei, president of the small partner value investment company, said to Wang Qinian, "And only from the perspective of financial investment, based on the reports of some senior industry researchers, China's LCD panel industry, even if it wants to catch up with Japan, South Korea and Taiwan, there are many years to go." This process may have 8~10 years of burning money, and it is not ideal for shareholders to invest at this stage! ”

"I know!" Wang Qinian smiled, "I don't make money for ten years." Even if you don't make money for twenty years, it's nothing! Under the small partner, there are many unprofitable departments, and not all the investments. It's all about the pursuit of financial appreciation and returns! ”

"If you don't pursue financial appreciation, then what are you pursuing?" Zhang Wei couldn't help but complain.

"Strategy, a momentum!" Wang Qinian said, "How can you control all the enterprises? Even if you can get the funds, you can't manage it. If you have too many resources in hand, it's easy to ignore some resources. Wasted resources! It's not the same just to invest a sum of money, support allies, and win over others to cooperate with us! A good man and three gangs, in addition to direct financial investment to obtain benefits, there are other more benefits. For example, to gain a long-term partner, and to develop a very strong ally! What's more, BOE has so many scientific researchers, and the annual patents will increase geometrically. ”

"Okay!" Although Zhang Wei did not recognize the investment value of BOE, he also learned from Wang Qinian's consideration that Wang Qinian was not dizzy to take investment, but had other considerations.

After a series of communication, the small partner company joined the subscription of BOE Technology's new shares, with an issue price of 2.8 yuan per share, and the small partner company subscribed for 500 million shares.

Because, BOE's shareholder composition is more complex, including local state-owned assets, the main purpose of these state-owned assets to subscribe to BOE's new shares, is nothing more than the hope that the new panel production line of BOE Technology Company will settle in the place, a production line, at least billions of yuan to 10 billion yuan of investment, plus, after the panel production line is backward, upstream and downstream enterprises will also settle down, enough to attract tens of billions of GDP, tens of thousands of new jobs, and hundreds of millions of taxes brought to the local area a year.

Therefore, the local government invests in the stock of BOE Technology, and it is sure to make a profit!

Even if the stock depreciation is worthless, after the production line settles in the area, the new tax revenue can recover the cost of equity investment in a few years at most, and even if the stock is sold at the floor price, it will be a lot of money for these local governments.

The investment of a small partner company is not only an equity investment. Purely considering equity investment, Wang Qinian will not invest in BOE Technology Company, which continues to burn money, now. Even if you buy stocks, you will not buy BOE's A shares, but buy cheaper B shares.

However, the small partner company invested in BOE Technology, mainly to accelerate the production capacity of touch screen panels. Once BOE Technology Co., Ltd. is affected by small partners and invests in touch screen panels on a large scale, it can cooperate with small partners to reduce the procurement cost of touch screens.

Because, BOE can produce, Japan, South Korea, Taiwan and other touch screen suppliers, they have to reduce prices. It is beneficial to make the hardware price of the touch screen into a cabbage price!

What's more, there are still many projects that need to be cooperated with panel manufacturers in the future, and investing in BOE Technology to accelerate the growth of this local giant is also conducive to the strategic development of the small partner company.

Besides, the small partner company will purchase hundreds of millions of yuan of display panels from BOE every year in the future, and it is possible to purchase billions of dollars.

As a strategic investment player, interests other than equity are more important! (To be continued.) )