No. 218 transaction

Paulson understood what Wei Dongsheng meant.

Considering the ability to perform the contract, the rose fund singled out the Wall Street financial oligarchy, and the stronger the other party, the higher the shorting amount against it. Those left-handed and right-handed short contracts are just that, the financial oligarchs earn the fees of the rose fund, and then earn the investors' fees, each of which can bring them considerable profits. Short-selling contracts that require the financial oligarchy to pay out of their own pockets are in trouble, with the financial oligarchy using their usual tactics to delay and delay on the one hand, and using their political and economic resources to restrict the Rose Fund from collecting debts.

Wei Dongsheng asked the relevant institutions to loosen the restrictions on the Rose Fund on the condition of financing Lehman Brothers.

Paulson didn't have the confidence to get the deal done, and he expertly procrastinated: "It's a very cumbersome thing to do, and it takes ......."

Wei Dongsheng cut off Paulson's excuse: "The Rose Fund does not have sufficient cash. ”

Paulson: "What's the gap?" ”

Wei Dongsheng: "There is a shortage of 20 billion US dollars. ”

Paulson understood Wei Dongsheng's threat: "The condition for the Rose Fund to raise Lehman Brothers is that the relevant authorities completely lift the restrictions? ”

Wei Dongsheng: "At least some restrictions need to be lifted. ”

Paulson: "What exactly?" ”

Wei Dongsheng: "Lift the transaction supervision and allow the Rose Fund to raise funds from CIC and CITIC across borders. ”

Paulson did not veto or agree: "Give me two hours to negotiate." ”

Wei Dongsheng didn't rush it: "Okay." ”

During his phone call with Paulson, Fuld had already made a desperate effort to activate all political, economic, and other connections to persuade stakeholders to temporarily lift restrictions and regulations on the Rose Fund. Perhaps the Fed did not want Lehman Brothers to collapse within its reach, or perhaps Fulder's emergency PR had an effect, and at 0:19 New York time on September 15, Paulson conveyed a positive result to Wei Dongsheng: "Yes. ”

Wei Dongsheng took advantage of the victory to pursue: "Do another favor." ”

Paulson: "Please. ”

Wei Dongsheng: "As you know, China and the United States have different systems, and multibillion-dollar investments will definitely need to go through cumbersome administrative approvals. If you want to negotiate a takeover at the opening of the stock market, you must make special arrangements to improve efficiency, so I would like to ask you, in your capacity as US Secretary of the Treasury, to call the Cabinet of China and formally submit a request for financing to the Cabinet of China. ”

The U.S. government is accustomed to serving capital, and Paulson has long been familiar with this routine in his dealings with China, and immediately smiled and promised: "Who should I call?" ”

Wei Dongsheng named: "The first assistant of the cabinet and the cabinet elder in charge of finance, Jin Zongxian." ”

About 20 minutes later, Paulson received bad news: "The situation does not seem to be very optimistic, and Shoufu and Elder Jin Zongxian have concerns about the safety of investment. ”

Wei Dongsheng did not comment on Paulson's conclusion: "Don't worry, I'll leave it to me." ”

Wei Dongsheng was about to chat with Paulson, when he suddenly saw Bai Guo bring his mobile phone and gestured for Secretary Wu of the first assistant to the cabinet to call. Wei Dongsheng quickly cut off the call with Paulson and took the phone from Bai Guo's hand: "I'm Wei Dongsheng." ”

Secretary Wu: "Hello Mr. Wei Dongsheng, where are you now?" ”

Wei Dongsheng: "Now, I'm in the Beihai courtyard that you helped arrange." ”

Secretary Wu: "That's right, you have time to ...... Hold on. ”

Secretary Wu suddenly covered the microphone and blocked the voice on his face, and it took about two minutes before the voice continued: "Mr. Wei Dongsheng, please stay in the Beihai Courtyard, there is an elder who is ready to visit you." ”

Wei Dongsheng was not surprised, and asked calmly: "May I ask which elder it is?" ”

Secretary Wu: "Elder Jin Zongxian Jin." ”

Wei Dongsheng: "I know, I'm waiting for Elder Jin to come to the cold house in the small courtyard of Beihai. ”

There is a 12-hour time difference between Yanjing and New York, with Midnight and early morning in New York and the afternoon before the heat wave in Yanjing. The Beihai Courtyard is located on the west side of Beihai, only one Aoyu Bridge away from the power center of the Chinese Kingdom, and the cabinet elders stationed in Beijing can summon Wei Dongsheng at any time, and they can also visit Wei Dongsheng at any time.

After a while, Wei Dongsheng met Jin Zongxian.

When Wei Dongsheng came to Yanjing to use the cash flow of the online game "Spring and Autumn of the Ten Kingdoms" to start quickly, Jin Zongxian happened to be the deputy mayor and mayor of Yanjing City. Thirty years of memory told Wei Dongsheng that Jin Zongxian's political achievements would not stop at the mayor of Yanjing. Wei Dongsheng knew that Jin Zongxian had a great future, so he listened to Jin Zongxian's opinions as much as possible within the scope of dispensability, and slowly became familiar with him through projects such as the supercomputer Cambrian. After Chunqiu, Zhiyu, Zhixing, and Zhu Wei made their fortunes at a terrifying exponential speed, Jin Zongxian continued to increase the importance of Wei Dongsheng, and the two gradually concluded a certain friendship in the spring rain.

Although the friendship between Wei Dongsheng and Jin Zongxian is far less than one ten-thousandth of Song Ningxing's, they have been able to meet in private and occasionally joke about it.

Perhaps it was precisely because of the personal friendship accumulated before that Jin Zongxian was willing to come to Beihai Courtyard to visit Wei Dongsheng in person.

Jin Zongxian saw Wei Dongsheng and joked with a smile: "You really can't be idle." ”

Wei Dongsheng didn't say anything hypocritical, and communicated with Jin Zongxian honestly: "I really don't want to be busy with these things. I prefer to be a researcher to a financier and an entrepreneur, building a few supercomputers and tapping into the potential of artificial intelligence. ”

Jin Zongxian humorously said a few clichés about connecting feelings, and the topic shifted to the Rose Fund: "Do you want to buy Lehman Brothers?" ”

Wei Dongsheng did not pretend to be the great savior of the American people in front of Jin Zongxian, and took the initiative to confess the difficult situation of the Rose Fund, and concluded: "The Rose Fund protects itself and saves itself!" ”

Jin Zongxian asked again: "Do you need financial support from CIC and CITIC?" ”

Wei Dongsheng admitted: "I need the archway of CIC and CITIC, and I also need the funds of CIC and CITIC. With the archways of CIC and CITIC, the Rose Fund has an official background and no longer has to bear the discrimination of Wall Street on its own; With the support of CIC and CITIC's capital channels, the Rose Fund can smoothly transfer the profits. ”

Jin Zongxian: "CIC is negotiating with Morgan Stanley to increase its holdings to 49%. ”

Wei Dongsheng: "I know. ”

After the subprime mortgage crisis detonated last year, CIC spent $5 billion to invest in Morgan Stanley with a bottom-buying mentality. Unexpectedly, the situation in 2008 was even worse than in 2007, and the subprime mortgage crisis led to a financial crisis: in October 2007, Morgan Stanley's share price hovered at $60 per share; In December 2007, Morgan Stanley's share price hovered at 45 per share per month; In September 2008, Morgan Stanley's stock price hovered at $35 per share; Considering that the large-scale financial crisis has just begun, Morgan Stanley's stock price is still falling.

If only the book income is considered, CIC has already suffered huge losses.

As a result, Morgan Stanley was not satisfied with the offer to increase its stake to 49%, and CIC did not dare to take any more risks as it did last year.

Jin Zongxian: "Lehman Brothers is worse than Morgan Stanley, and the risk of taking a stake in Lehman Brothers is ten times worse than that of Morgan Stanley. ”

Wei Dongsheng: "I can guarantee this investment. ”

Jin Zongxian: "How to guarantee?" ”

Wei Dongsheng: "Let's say CIC invests US$4 billion to buy a 10% stake in Lehman Brothers, with a term of 3 years and an annual interest rate of 9%. If there is a net loss at the close after three years, I am willing to pay to wipe it out. If there is a profit, it is considered to be a CIF; If there is a loss, I am responsible for paying it. ”

Jin Zongxian: "What kind of guarantee?" ”

Wei Dongsheng: "The annual sales of Zhiyu Sapientia_3G and Sapientia_2 smart phones launched by Zhiyu Technology are expected to exceed 20 million units in 2008. Each smartphone is 5,200 yuan, and 20 million is 104 billion yuan of cash flow. Moreover, considering the doubts of Huawei, ZTE, Lenovo, Meizu and other companies about the castrated version of the mobile phone operating system hOS, Zhiyu and Zhixing decided to personally promote the hOS system, and Zhixing established Zhiyu Technology to launch a multi-touch capacitive screen smartphone priced at 3000 yuan for the mid-end market. The sales performance of Zhixing Technology's mobile phone business is not weaker than the Sapientia_3G released by Zhiyu last year. I think that the fixed assets of Zhiyu and Zhixing and the cash flow of Rose Huaguo should be enough to guarantee a $4 billion or $8 billion transaction. ”

As Wei Dongsheng said, Sapientia_3G has detonated the multi-touch screen capacitive screen mobile phone market several years ahead of schedule. In 2007, Zhiyu Technology shipped about 9 million smartphones; Before September 2008, the shipment of smart phones had exceeded 15 million units, and the total annual sales volume was very likely to exceed 20 million units. Due to the rapid growth of the smartphone business, Zhiyu's total annual revenue has also skyrocketed, and the data may double to 200 billion yuan, becoming the first Fortune 500 company under Wei Dongsheng.

A Fortune 500 company with significant future growth potential is certainly qualified to guarantee a $4 billion deal.

Jin Zongxian no longer questioned it.

After about half a minute of silence, Jin Zongxian leisurely advised Wei Dongsheng: "I still hope that you will focus on industry." ”

Wei Dongsheng smiled and said: "I didn't fall behind in industry. Zhiyu, Zhixing, Zhuwei and other enterprises are advancing at a high speed, and next year Zhiyu even hopes to win the honor of the world's top 500. In the 2008 Fortune 500 released by Forbes, there were only 35 companies in Greater China on the list, and Zhiyu was able to climb to the top of the world's top 500 in just a few years. ”

Jin Zongxian shook his head: "You are in a hurry to take a stake in Lehman Brothers!" ”

Wei Dongsheng: "Capital is not omnipotent, but without capital, development is certainly impossible." If the Rose Fund is killed by Wall Street United, it will at least delay the development of Zhiyu, Zhixing, and Zhu for three years, and it is the most critical three years. Therefore, I hope that CIC, CITIC or other state-owned banks can lend a helping hand to the Rose Fund at the most critical moment. ”

Jin Zongxian did not understand the importance of the Rose Fund.

However, through today's conversation, Jin Zongxian understands that Wei Dongsheng takes the Rose Fund very seriously. After thinking about it for a while, Jin Zongxian replied to Wei Dongsheng kindly: "If you are willing to use the equity guarantee of Zhiyu and Zhixing, in principle, I agree that Rose Fund will join CIC and CITIC to invest in Lehman Brothers." ”