1991 Starting from the core

The response from Texas Instruments' board came quickly.

As a well-established semiconductor company with deep pockets, TI is happy to invest in a company like Xinghai that has both technical strength and development potential, not to mention that this company has a sister relationship with Yuanxin, which continues to create miracles.

Therefore, a third-party evaluation agency composed of professional firms and banks came quickly.

…

Then Su Yuanshan was so angry that he vomited blood.

Are these people stupid? For a growing technology company, they don't look at the technical strength and technological prospects. What can they tell by just looking at the financial report?

Looking at the current valuation of Xinghai at one billion US dollars, not only Su Yuanshan but also everyone in Xinghai was speechless.

Thanks to the cash flow brought by Yuanxin EDA, Xinghai is developing at a much faster pace. And within a year, it had customer management software and cordless phones, two products that currently have almost no rivals.

Both products have only been officially launched for less than a month, but through the communication market channels brought by Carly, the cordless phone has already received one million pre-orders.

As for the customer management software, Su Yuanshan also won orders from Microsoft and AMD under Su Yuanshan's continuous visits this week. Even HP was very considerate and paid the money readily after Xinghai offered a preferential price.

Winning down these giants means that CRM has the potential to become the dominant player. Isn’t it possible to easily create a market worth hundreds of millions in the future?

If we have to talk about turnover, take cordless phones as an example. Orders for one million units alone have exceeded 400 million.

This is actually only given a valuation of one billion US dollars!

It's indeed a bit excessive. Carly dropped her pen, but she immediately smiled: But I heard that Cyrix is ​​also wrangling, saying how much their patent is worth...and then the evaluation agency over there said I don't care how much your thing is worth. , I only know that your business has little value now, which makes Klaus so angry that he vomits blood.

Hearing this, Su Yuanshan felt much better, shook his head and said with a smile: This is a typical Wall Street behavior, discriminating against non-listed companies like us.

Qin Si interrupted: To be precise, the old-school capitalists have not kept up with the trends and thinking of technological development, and they prefer to use the market to test enterprises.

Yang Yiwen smiled and said: It's a capitalist who just wants to buy your company for just a few bucks.

Su Yuanshan laughed: You summed it up very accurately. Well, asset evaluation only gives the other party a psychological bottom line. In the final analysis, it is still up to us to negotiate.

Carly nodded: Yes, in fact, as long as TI has a strong willingness to cooperate, everything can be discussed. After all, we are both professional technology companies and understand each other's market prospects better.

As she spoke, Carly looked at Su Yuanshan again: I heard that when you were talking about cooperation with Sony last time, you ran away while talking?

Um... It won't happen this time. If you run away this time, it's money. Su Yuanshan felt embarrassed: Don't worry, when you need me, I will understand right away with just a look from you.

Everyone just smiled and continued to sort out their own advantages.

After all, the value of technology companies cannot be measured by the existing market.

*

TI's negotiation team arrived quickly. After receiving the valuation report, the negotiators headed by President Vincenti rushed to Silicon Valley. After only a day of visiting and resting, the two parties sat down at the negotiating table.

As Su Yuanshan said, this time is not a cooperation, but a buyer and seller. If either party gives in, the money will be gone. Therefore, compared with the negotiations with Sony, this time it is obviously much more tense.

On the first day, Deyi directly took the valuation report to discuss the matter. Of course, this was rejected by Carly, saying that if you want this, then we will directly talk about profits - Xinghai's net profit this quarter will be 100 million US dollars, how much do you have? Is there one billion?

This sentence made Vincent choke up. As a long-established listed company with a market value of 50 billion US dollars, TI has been continuously investing in building factories in recent years. In addition, it encountered a small downturn in the semiconductor industry last year. To say that The profit...is really not much.

Su Yuanshan felt very happy when he heard this.

He came to the negotiation purely with a learning attitude.

But he probably couldn't learn from Carly's sharp teeth and sharp mouth - this is a natural instinct of women. Didn’t Confucius say that? There is nothing in the world that is difficult to raise.

The first day ended without any progress. Of course, in the evening, everyone was in harmony again and even had a small party.

The next day, the two sides continued to argue and touch each other's bottom lines.

For Carly, as the president, CEO, and future chairman, she certainly cannot give up Xinghai's interests easily. For Vincenti, he also represents the shareholders of Deyi. Even if he is willing to invest in Xinghai, there is a bottom line.

…

To summarize. Carly rolled up her sleeves, tapped her pen, and kept smiling.

I carefully analyzed their financial reports. Recently, Deyi has no money.

Of course, having no money is relative. They are about to build a new wafer fab in Singapore, and the investment here is almost one billion. Then there will be less that can be given to us. Carly looked at Su Yuanshan and said: Can you accept Deyi's stocks?

Su Yuanshan pondered for a moment: Cash is definitely the best. Because Cyrix probably also needs our cash acquisition, and with the divestment of the EDA business, Xinghai also needs money...

Yeah. Carly gritted her teeth and nodded: Yes, I know you still want to build a wafer fab, right? How about letting them use a wafer fab to offset the bill?

Pfft... Su Yuanshan couldn't hold it back.

I want to build a wafer fab, but I don't want to build it in Silicon Valley. There are dozens of wafer fabs here, and if I build it, I will just be cannon fodder. Su Yuanshan put down the coffee and smiled: Carly, you know, we The development to this point is really not just because of technology. It’s more about long-term considerations.”

The market with a population of 1.2 billion is waiting for food. Whoever gives up will be stupid. So if I want to build it, I will definitely build it in China.

Carly fell into deep thought, and continued after a moment: It is not realistic to build in mainland China now. I have been responsible for the export of Bell Labs and your Huajing. I understand the bottom line of the above policy very clearly-at present, it can only export up to eight inch 0.8 micron process, but the process is generally breaking through 0.35 micron. If you wait, you can probably get 0.5 micron.

Su Yuanshan spread his hands: Look, if we are built, we will be two generations behind, and other companies will forget about it. As the boss of Xinghai and a close partner of Yuanxin, how can you tolerate this?

Carly chuckled: Then let's forget it with money. After all, we are going to build a R\u0026D center soon. Nowadays, the price of land in Silicon Valley is increasing every day, and we can't stand it if it keeps rising.

Yes, cash is best.

Su Yuanshan answered with a smile.

Not only is the R\u0026D center to be built here, the building at Yuanxin must also be completed and renovated, and then four R\u0026D centers will be established soon.

In mainland China, it is cheap to buy land and build buildings, but R\u0026D centers and laboratories are not cheap.