"Uh, okay." Chen Jiansheng now trusted his daughter's opinion very much, so he nodded slightly and pressed a button in front of him.

In front of the conference table, a circle of LCD screens rose, and the LCD screens lit up at the same time.

Chen Jiansheng coughed and said: "Okay, in that case, let's talk about the investment method and equity distribution plan, please look at the big screen in front of you, all the screens are the same." ”

After listening to Chen Jiansheng's words, the atmosphere at the scene was a little more serious, and everyone turned their eyes to the big screen in front of them.

Chen Jiansheng operated on his laptop, and the same content was displayed on several large screens in the venue.

The name of the company established by everyone is "Xingchen Semiconductor", with a registered capital of 100 billion.

Registered capital means that all investors must take out a total of 100 billion assets and put them into the account of the established company.

Looking at this short sentence, all the bigwigs present were confused.

100 billion registered capital is too arrogant and too reckless.

You must know that the registered capital of Huawei's entire company is only more than 16.4 billion points, which has been continuously added over the years.

Investing 100 billion at once is too difficult and inappropriate.

Most people's expectations are basically around 10 billion, and they will not exceed 20 billion if they float up.

As a result, now Xingchen Technology directly shouted out 100 billion, which made everyone almost slow down in one breath.

However, as soon as Chen Jiansheng's fingers tapped on the keyboard, the second page came out, and the faces of all investors changed from holding their breath to chest tightness.

On this page, it is talking about the shares held by the Xingchen Technology camp.

Xingchen Technology invests in semiconductor technology and mobile communication patents, accounting for 16% of the shares. And the equity is not diluted.

Xingchen 2001, with artificial intelligence technology, intelligent system technology, and my position in the company, as a capital contribution, holding 35% of the shares. And the equity is not diluted.

The shares of Xingchen 2001 are held by Xingchen Technology.

Xingchen Technology and Xingchen 2001 used technology and patents to fund, which everyone expected.

Intel's world-leading semiconductor technology, coupled with Qualcomm's monopoly of basic communication patents.

Xingchen 2001's technical support, plus artificial intelligence technology and intelligent systems.

These things are almost priceless, even if the price is 100 billion, it is not too much.

Anyway, if Xingchen 2001 is willing to sell at this price, there will definitely be people who can't wait and don't hesitate to buy it.

What everyone didn't expect was that Xingchen Technology would directly propose such a destructive condition as "equity is not diluted".

"Equity is not diluted", that is, when the company continues to make additional investments in the future, the equity ratio of Xingchen Technology and Xingchen 2001 will always be fixed, and the equity ratio will not be reduced due to the increase in registered capital.

On the other hand, the equity of Xingchen Technology does not depreciate, which is equivalent to letting other shareholders bear the dilution of equity, and also shrinking the value of the assets invested by subsequent investors.

In particular, the equity of Xingchen Technology and Xingchen 2001 is 51%, which is very huge.

We calculate according to 50%, the registered capital of the semiconductor company is now 100 billion, if there is an investor A in the follow-up, who is particularly optimistic about Xingchen Semiconductor, is willing to invest 100 billion at one time.

Under normal circumstances, the registered capital of a semiconductor company reaches 200 billion, and investor A holds 50% of the company's equity, with an equity value of 100 billion.

However, in the existing 50% of the original equity belonging to Xingchen Technology, it is not diluted, so after investor A invests 100 billion, he needs to bear the equity dilution together with the 50 billion assets held by other shareholders.

After calculation, investor A finally got 33% of the equity, with an equity value of 66.6 billion, which directly shrank by one-third.

The equity of other original shareholders will also change from 25% to 16.7%, and the value will change from 50 billion to 33.3 billion, which will also shrink by one-third.

The 50 billion equity shrunk by both parties is equivalent to giving to Xingchen Technology and Xingchen 2001.

All in all, as long as the investment is increased in the future, it is equivalent to all other shareholders who will first take out a part of the equity of the increased investment amount and give it to Xingchen Technology and Xingchen 2001, and the rest is their own equity value.

No one with a little brain would invest in such a company.

Such conditions have little impact on the initial shareholders, and they invest as much as they want.

Without follow-on investment, their equity and value will not depreciate.

So in this way, other shareholders will desperately prevent follow-up investment.

Such an approach basically completely blocks the possibility of additional investment.

Those who dare to put forward such conditions are either extremely tough, or they have decided never to raise money, or they are brain-dead.

Xingchen Technology has the first two reasons.

In general, the founder of the company wants to maintain control of the company in the process of continuous financing.

Basically, they will give up their dividend rights, and then ensure that they have more than half of the voting rights through proxy voting, cross-shareholding, multi-layer shareholding, and other methods.

For example, Ma Huateng holds about 8% of Tencent's shares, Ma Yun holds 7% of Alibaba's shares, and Liu Qiangdong holds 15% of JD.com's shares.

But these three people, through various means, got more than half of the voting rights, and proudly completely controlled the company.

The largest shareholder of their company has no voting rights, only the right to dividends, and cannot directly intervene in the company's operations.

Xingchen Technology, on the other hand, is very tough, without considering any means, without any cover-up, and directly writing the requirements of non-dilution of its own equity into the equity agreement and the articles of association.

Although such a requirement is not against the company law, under normal circumstances, almost no investor will accept such an agreement.

In order to facilitate management and reduce disputes, the business administration agency will not accept the registration of companies with such clauses.

But if there is a generality, there will be a special case.

Everyone also understands that with the foundation of Xingchen Technology and Eternal Group, their articles of association will be passed as long as they are not illegal and as long as they comply with management regulations.

As long as other investors agree, a company with such a hegemonic clause of the company's articles of association will also be legally and reasonably established.

The company's total investment has reached a terrifying level of 100 billion, and Xingchen Technology and the faceless Xingchen 2001 directly account for 50% of the shares without paying a penny.

Under such a premise, it is also naked that his equity will not dilute such a condition.

Did Xingchen Technology completely give up the possibility of follow-up financing, or did it feel that with its own status, even if it would depreciate, someone would be willing to invest in it?

But in any case, almost all the bigwigs present said that they couldn't accept it.

The condition that equity is not diluted is too barbaric.