My Age of Investment

"Mr. Zeng, I heard that ATL almost went bankrupt?"

Xia Jingxing thought about it for a while, and decided to put the breakthrough on Zeng Jiqun first.

Because according to Deng Yuanjun’s feedback, among the founders and shareholders of ATL, this is the one who has the most favorable impression of Vision Capital.

"Yes, I was tricked by the Americans at that time, and that black-hearted Bell Labs sold us a technology with a big flaw."

Zeng Yanqun looked resentful, because he was too excited, even swearing.

Even after many years, he still can't forget the despair that year, all thanks to the Americans.

After the anger in his heart subsided, Zeng Jiqun slowly told Xia Jingxing about the experience of being cheated at that time.

"After deciding to start a battery business, we have been looking for research and development directions.

At that time, products such as circular batteries and square batteries that were common in the market were basically dominated by Japanese companies such as Sony and Panasonic.

They have a high degree of automation and uniform quality, and it is difficult for Chinese companies to compete with them.

We later found out that a Nokia flip phone had a Sony polymer pouch battery.

The battery is short, thin, and easy to carry.

So we judged that this might be a development direction in the future, so I flew to the United States with the funds and purchased Bell Labs' polymer lithium battery patent license..."

Xia Jingxing acted as a loyal audience, standing on the sidelines from time to time, criticizing the immoral Bell Labs with righteous indignation.

"They made it clear that they were deceiving people. The technology we bought for a whole million dollars and the batteries we produced were blown out of shape after being charged a few times, and there was no way to sell them."

Recalling the past, Zeng Yanqun gave a wry smile, "At that time, we had collected a total of 2.5 million US dollars in venture capital, and we spent 40% of the funds to buy this waste technology, and then spent some in other places, and we were almost out of money.

I had no choice but to fly to the United States again to find Bell Labs.

My attitude is very good, I didn't mention the return, let alone the loss of money, I just want them to help solve this technical defect.

As a result, guess what?

The Yankee said slowly that battery inflation is a long-standing problem, and they don't know how to solve it, and none of the more than 20 authorized companies around the world can solve it. "

"It's just cheating money. If you cheat one, it counts as one."

Xia Jingxing criticized righteously, shaking his head again and again, "I have stayed in the United States for a few years, and foreigners there only have interests in their eyes, don't expect their character and morality to be noble."

Zeng Yanqun nodded approvingly, "Yes, since then, I have become more defensive when dealing with foreigners."

"What about your technology? I read from the information that it seems that the formula has been improved by you, and the battery is not deflated and deformed. It is so powerful, how did you do it?"

Xia Jingxing said with a smile: "Although the character of Bell Labs is not good, the technology is definitely not bad.

The problem they didn't solve, I heard that it was completely solved by you in two weeks? "

Xia Jingxing's flattery is very much in line with Zeng Jiqun's wishes.

He said very modestly: "Actually, it's not that magical anymore, it's just luck.

Seeing that the company is about to fall into financial crisis, I, as the person who bought the technology, felt very uncomfortable and couldn't sleep all night.

I couldn't sleep at night, so I was thinking hard in bed, and suddenly I thought of the composition of the electrolyte.

The upper temperature limit that lithium batteries can use is 85 degrees Celsius, while the boiling point of some components in the electrolyte of Bell Labs is 93 degrees Celsius, which is very close to the upper temperature limit of lithium batteries.

I was like, is there any connection between this?

When I thought of something, I immediately started to do it, treating a dead horse as a living horse doctor.

Immediately, I contacted the electrolyte manufacturer and came up with seven new formulas, excluding chemicals with low boiling points.

Two weeks later, the batteries made according to the two new formulas were really flat!

In this way, our ATL has become the only company that has successfully mass-produced among more than 20 companies authorized by Bell Labs in the world. "

Speaking of this, Zeng Jiqun showed a self-confident smile.

Although his smile was restrained, the smugness in his eyes could not be concealed.

Xia Jingxing clapped his hands and applauded, "Wonderful! The Americans are self-confident. They sold you a "junk" technology for 1 million dollars, but you turned waste into treasure and built a company worth at least 100 million dollars.

I don't know if the Americans will be so angry that they will jump into the Mississippi River when they know about it. "

Xia Jingxing's words were very much in line with Zeng Jiqun's appetite. The latter smiled and said, "So, I don't think we Chinese are stupid, and Americans are not as smart as we imagined."

Xia Jingxing nodded, "I have read authoritative reports, the average IQ of Chinese people is 107, while Americans are only in the 90s, and there are still a few Japans behind."

While talking, Xia Jingxing pretended to be casually looking at the subtle expressions on Zeng Jiqun's face.

Hearing that Xia Jingxing belittled the Americans and the Japanese, Zeng Yanqun didn't have any dissatisfaction. Instead, he laughed and said, "Well said, the Japanese are actually not particularly smart, they just have a good industrial foundation."

Under high pressure, paying attention to the distinction between superiors and inferiors, and nodding and bowing Japanese companies, unless they are born with slavishness, few Chinese will have a good impression.

In Shinco, Zeng Jiqun has excellent technology and has become the first mainland director in ten years.

But based on his contribution to the company, he could have been promoted to senior management long ago.

Before founding ATL, headhunters had already hired him to serve as the general manager of a large company in Pengcheng.

Liang Shaokang, the president of Xinke at that time, and Li Tanghua, who knew Zeng Yuqun and was his immediate boss, persuaded Zeng Yuqun many times to become a partner of ATL.

The two executives had to recruit a middle-level partner as a partner, which showed Zeng Yanqun's ability.

But such ability can only be found in the middle level of Japanese companies.

Xia Jingxing guessed that Zeng Jiqun probably didn't have a good impression of Japanese companies.

Moreover, the company founded by the other party is named "Ningde Times" after his hometown.

From Xia Jingxing's point of view, this is not very common, it should be a deep love for his hometown.

Of course, it is not ruled out that there is a suspicion of showing favor to a certain leader who has served in Ningde.

No matter what, Xia Jingxing had basically detected some tendencies of Zeng Jiqun.

As long as you don't "flatter the sun", things will be much easier to handle.

Xia Jingxing said: "After the successful development of the battery formula, the development of ATL has completely embarked on the fast track.

The price of the lithium battery designed is only half of that of the Korean battery, but the capacity has doubled, and the business orders are pouring in. In 2002, it achieved a single-month profit and a year-round profit.

In 2003, developed the world's first industrialized lithium iron phosphate battery, the world's first industrialized high-rate charge-discharge battery, and the world's first industrialized long-life polymer lithium battery...... "

Although these are all facts, seeing Xia Jingxing's words are full of admiration, Zeng Yanqun will inevitably feel a little complacent in his heart.

After all, Xia Jingxing is a well-known billionaire, and even he respects ATL, how can it not make people's hearts surge and aura suddenly arise?

Xia Jingxing didn't praise others casually, he was going to praise first and then suppress.

After putting on the high hat, he looked at Zeng Jiqun with burning eyes, "As one of the few companies in China that can occupy a leading position in technology in the world. Mr. Zeng, do you want ATL to become a foreign company? And a wholly-owned foreign company!

We often regret the loss of national brands, but when this kind of thing happens to us, what choice will we make? "

Zeng Yanqun smiled and waved his hands, "President Xia, you don't need to test me, you are too worried, we invited you here today, the tendency is already obvious.

But you also know that there are so many shareholders in ATL, and TDK is also our shareholder.

Our opinions are important, but more importantly, you have to give other shareholders a satisfactory price.

I don't mean anything else, just to show my attitude, I can support you, but more things have to be won by Envision Capital itself. "

Seeing Zeng Yuqun with a candid face, Xia Jingxing let out a hearty laugh, "Okay, with Mr. Zeng's words, I'm completely at ease."

Zeng Jiqun smiled and nodded, without speaking.

"I heard that the reason Carlyle plans to cash out is because they visited BAK Battery and found that their price can be made cheaper than ATL.

So Carlyle felt that you had no future.

As soon as Carlyle planned to withdraw, Han Ding and 3i chose to follow up. "

Hearing Xia Jingxing talk about this sad incident, Zeng Jiqun nodded and sighed softly, with regret and sorrow written all over his face.

This matter cannot be hidden from those who are interested, and it will be clear after a little investigation.

Zeng Yanqun didn't want to hide this matter, so as to get some cheapness in the company's valuation.

He is very Buddhist now, it depends on how Envision Capital competes with TDK.

To the best of his ability, he will help Vision Capital.

But as he said, he can't control the overall situation alone.

If Carlyle hadn't taken the lead to make a fuss about quitting, their ATL wouldn't be in the situation it is today. After all, from the day they started their business, the three of them had set a big goal of ringing the bell.

But now the three shareholders are clamoring to cash out and leave. According to the agreement, they can't stop it, and they don't have the money to buy it back.

The shares of the three shareholders can be combined to achieve a controlling position. Even if the founders do not sell the shares, they will not be able to gain control of the company.

Xia Jingxing's seemingly casual inquiries were actually collecting various useful clues.

And whether the purpose of lowering the acquisition cost can be achieved, the password is hidden in these clues.

"I heard that Apple couldn't find a suitable battery for the iPod. I approached you in 2004 and placed an order for 18 million units?"

Zeng Yanqun nodded, "Yes, we have a good cooperative relationship with Apple in the United States."

At this time, the Apple mobile phone has not yet been born, the so-called "fruit chain" is not as good as it will be in the future, and Apple is only one of ATL's major customers.

In addition to Apple, ATL also provides batteries for many consumer electronics manufacturers such as DVDs, Bluetooth headsets, and mobile phones.

So even though it has already embraced Apple's thigh, ATL can't enjoy any premium in valuation.

A few ruthless investment institutions are clamoring to withdraw at this time, no different from Li Zekai who sold Penguin shares.

After confirming that the Apple industry chain could not become an important weight in ATL's valuation system, Xia Jingxing was relieved a lot.

The current concern is how TDK Group views ATL as a company, and how much this battery company is worth in the eyes of the Japanese.

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