Chapter 1 Taking on a critical mission, minority shareholders want to sell the company.
Chapter 1 Taking on a critical mission, minority shareholders want to sell the company.
Shen Fei's consciousness gradually returned under the glaring lights.
A buzzing sound filled my ears—the sounds of a heated argument and the muffled thud of something hitting the table.
He barely opened his eyes, his vision clearing as he went from blurry to sharp – a long conference table surrounded by seven or eight people, all with flushed faces.
"I disagree. This is the foundation that Old Shen built from scratch. How can we just sell it off like that?"
"Not selling? Are you waiting to go bankrupt? Don't you know what the situation is like in the domestic market right now?"
Nokia dominated the market, holding a full 40% market share, while Samsung, Motorola, Ericsson, and LG took another 40-50% of the market.
There's only so much left for domestic mobile phone manufacturers, but everyone's throwing money at it to grab market share. What does Transsion have? Technology? Distribution channels? Or brand?
"Old Zhang is right. Originally, with Old Shen by our side, we could still fight, but now that Old Shen is hospitalized, there's no point in persisting."
The one we contacted offered a substantial sum, a full two hundred million.
This is a friendly price. Transsion isn't worth that much.
"If this drags on any longer, the production line will stop, the distributors will withdraw, and we won't even get a hundred million. We won't even have a chance to cry then, and that would truly break Old Shen's heart."
"You two have always been at odds with us, and you're deliberately doing this on such an important matter... You're really making Brother Shen feel disheartened." Seeing that he had the upper hand, Shen Xiangyu finally stood up.
Shen Fei felt a splitting headache as a flood of memories that did not belong to him rushed into his mind.
Transsion Holdings Co., Ltd. A fourth-rate domestic mobile phone manufacturer, not much different from a counterfeit factory. The founder's father, Shen Guohua, is currently hospitalized due to a sudden cerebral hemorrhage.
I am Shen Fei, 24 years old, the only son of Shen Guohua. I am the nominal deputy director of the company, but in reality, I spend my days at various cocktail parties and gatherings.
Memories of his past life became clear at this moment. He was the founder of a Fortune 500 technology company, and was indeed the toughest person in the world, having withstood multiple sanctions from the United States.
Even after achieving success, he never forgot his original aspirations and was still willing to do some research and development occasionally.
One day, after a burst of interest, he worked for 72 consecutive hours and collapsed in the laboratory. When he woke up, it was 2008, in another parallel world, in the body of another person named Shen Fei.
"That's enough!"
At the head of the conference room, a man in his fifties wearing gold-rimmed glasses slammed his hand heavily on the table.
He is Zhang Mingyuan, the company's vice president and second-largest shareholder. He is also the person most determined to sell the company. The people who spoke just now were all his people.
"Now that Mr. Shen is awake, let's hear his opinion." Zhang Mingyuan turned to Shen Fei, his eyes filled with undisguised contempt.
"Xiaofei, your father is in the hospital right now. You are the only son of the company's largest shareholder, so theoretically you have decision-making power."
But those of us who have worked alongside your father for over a decade can't just watch the company collapse, so we've come up with a better solution for you."
A middle-aged woman standing nearby chimed in; she was Li Xiuyun, the CFO of Transsion Technology: "Xiaofei, your Uncle Zhang is right."
The company has less than 5000 million yuan in working capital left, and it's almost unable to pay next month's salaries. The parts supplier in Huaqiangbei has already pressed for payment three times; if they don't pay soon, they won't be able to supply the next batch of goods.
"Selling the company and getting 200 million will at least cover Lao Shen's medical expenses and give everyone an explanation," Zhang Mingyuan earnestly advised. "You're still young. Use that money to do something you enjoy, don't let this mess drag you down."
Shen Fei rubbed his temples, and his memory returned completely.
Transsion was founded in 2005 and focuses on low-end functions.
This parallel world is almost identical to his previous life. Last year, Apple released the first-generation iPhone, and this June, it released the iPhone 3G, which completely announced the arrival of the smartphone era. However, the domestic feature phone market is still huge.
However, the competition has become fierce. With MediaTek providing an integrated solution, feature phones seem to have become something that anyone with people and equipment can make.
Besides these, visionary domestic giants have also begun to lay out their plans in this field. Huawei quietly established its own chip R&D department, preparing for transformation.
Transsion, on the other hand, lacked both technology and distribution channels; its only advantage was the long-standing connections its father, Shen Guomin, had in the industry.
However, since Shen Guomin suffered a sudden cerebral hemorrhage last month, these relationships have cooled rapidly, and some people have demanded higher rebates or they will stop selling to him.
To make matters worse, morale within the company is low.
Zhang Mingyuan and several other veterans had already privately contacted several potential acquisition targets. The so-called 200 million yuan price tag likely involves a lot of shady dealings.
Shen Fei took a deep breath and scanned the faces of everyone in the conference room.
Zhang Mingyuan, Vice President, holds 3% of the shares. Li Xiuyun, Chief Financial Officer, holds 2% of the shares. Also opposed are Zhao Kai, Marketing Director, and Wang Zhigang, Production Manager…
These veterans combined hold no more than 15% of the shares.
and many more!
Shen Fei suddenly realized something. He closed his eyes and carefully searched his memory for details about the company's equity.
The father, Shen Guoming, holds 85% of the shares... not the 30% or 40% often seen in power struggle novels, but a full 85%. He has absolute control over Transsion Technology.
He had thought that these people gathered together would be like two kings and four twos, and that he would have to go to great lengths to protect his father's property.
The result was just a bunch of lowlifes. Shen Fei's eyes lit up completely. The advantage lay with him!
"I'm done!" His voice wasn't loud, but it instantly silenced the entire conference room.
All eyes were on him. Shen Fei, who usually just grinned foolishly and indulged in debauchery, and whom they called the useless prince, seemed to have a strange look in his eyes at this moment.
"Vice President Zhang, Director Li, everyone." Shen Fei slowly stood up, placed his hands on the table, and leaned forward.
"First of all, I would like to thank everyone for staying at their posts during my father's serious illness."
His tone was calm, but it carried an undeniable pressure that left no room for argument, instantly making Zhang Mingyuan tense, as if he were...
"But regarding selling the company..." Shen Fei paused, his gaze fixed intently on Zhang Mingyuan. "I disagree."
"Good that you agree. Xiaofei said that selling the company would have been the wise choice." Zhang Mingyuan was about to hand over the contract, but after hearing it clearly, he thought he had heard a joke.
"What! You disagree?"
"Shen Fei, do you know what the company's situation is like right now? Do you know that the profit margin for a single mobile phone in the entire industry has been squeezed to less than 5%? Don't you know that Coolpad and Bird are about to release new mobile phones?"
"At that point, Chun Chun will only have one path: death."
"I know," Shen Fei nodded.
"I also know that Apple's 3G fruit will be released globally next month, and I also know that Nokia's Symbian system has already occupied about 70% of the market."
I also know that MediaTek's turnkey solutions have led to the proliferation of counterfeit phones, and we are also using this solution.
With each sentence he spoke, he took a step forward, eventually stopping beside Zhang Mingyuan.
"But I also know that Transsion is the culmination of my father's life's work. I know that some of you here are genuinely concerned for the company, while others..."
Shen Fei's gaze fell on Zhang Mingyuan's slightly trembling hands: "You've probably already found someone else, haven't you?"
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