My Age of Investment

  Singapore Woodlands Industrial Park, Xinxin Group Fab2.

Xia Jingxing, who had just finished his speech at the National University of Singapore, rushed to the fab that originally belonged to Chartered Semiconductor without stopping, and then, accompanied by Fu Jixun and other senior executives of Xinxin Group, he inspected the work and talked about it. The recent violent turmoil in the memory chip market.

   "Old Fu, the burden on you now is not light at all, are you sure you can handle it?"

   Facing Xia Jingxing's questioning, Fu Jixun was very frank, grinning and said, "As long as the ammunition replenishment is okay, I promise to shatter a few of its three-star teeth."

  Hearing this, all the executives following the two smiled knowingly.

  With the relationship between Xia Jingxing and Samsung in full swing, Xinxin Group has now been pushed to the front line of the confrontation between the two giants. At this point, any means of hiding clumsiness and showing weakness have lost their meaning.

  Since Samsung has chosen to make a move, there will be no room for it. No matter whether Xinxin Group is willing or not, it must follow Stud.

   Fortunately, there is the richest man in Asia and the third richest man in the world in front of him!

During Xia Jingxing's stay in Singapore, "Forbes" released the list again. Compared with last year, Xia Jingxing's net worth and ranking have risen this year. With a net worth of 52 billion US dollars, he surpassed Warren Buffett, ranking the third richest in the world. He is ahead of Carlos, a Mexican telecom tycoon worth $74 billion, and Bill Gates, who is worth $56 billion.

Xia King Hang's main growth in wealth did not come from Facebook, which went public last year and its shareholding has been greatly reduced, but from Fuxing Industrial Holdings Group, whose valuation is getting higher and higher and its influence in the world is increasing. The valuation of a company that has only been established for six years has exceeded 100 billion US dollars.

This is also the second 100-billion-dollar company founded or controlled by Xia Jingxing. Although Vision Capital currently manages more than 100 billion U.S. dollars in assets, its valuation is far lower than the asset management scale, and there are too few information disclosures. Good for valuation.

  Xia Jingxing said with a smile on his face: "Samsung always likes to overwhelm their opponents with strong financial resources. Although this tactic is simple and crude, it has to be said that it is very effective.

  You don’t have to worry about money matters. Daxia Capital, Mubadala Investment Company, and Temasek Holdings are the strongest backers of Xinxin Group. "

  Fu Jixun smiled silently, he understood the subtext of the boss—it's time to ask for alms again from the two landlords.

  One is the Abu Dhabi sovereign wealth management fund that is rich in oil, and the other is the only developed country in Southeast Asia that sits at the door of the golden waterway and collects money. Both of them are not short of money.

   Pull these two together to fight for financial resources and burn money with Universal Smecta who eats kimchi as a delicacy. The scene of the collision should not be too exciting.

  In fact, when Xia Jingxing designed the equity structure of Xinxin Group, he had already considered possible future conflicts.

  Although he is not short of money, who can refuse two good partners who are even more not short of money.

  Besides Mubadala and Temasek are two countries. Although they are small countries, they can still play a role at certain times.

  Fu Jixun thought for a while, moved to Xia Jingxing's side, and said in a low voice, "Mr. Xia, the reason why the two companies spent money so readily in the past was mainly because the money was not wasted, and Xinxin Group's strength continued to grow."

  Xia Jingxing couldn't understand Fu Jixun's hint, so he waved his hand, indicating that it's okay.

  Temasek and Mubadala have already boarded his thief ship at this time, and it is not so easy to jump ship.

However, even if the two companies agree to increase capital and share this time, I am afraid that they will still feel a little unhappy afterward. After all, the conflict between Xinxin Group and Samsung is all because of him. Even if it is not the main cause, it has greatly accelerated the whole process. .

  For the sake of a long-term friendship, Xia Jingxing decided to take more care of himself.

  …

   A few days later, Sheikh Mansour flew from the United Arab Emirates to Singapore and held a shareholder meeting with Xia Jingxing and Huo Jing.

   "According to the current trend of the memory chip market, we must be mentally prepared to lose billions or even tens of billions of dollars this year."

Xia Jingxing sat at a corner of the round conference table, observing the faces of the two people opposite him, and said in a joking tone: "Now the media all over the world say that I have completely broken up with Samsung, so in order to attack Xinxin Group, Samsung Only when the chip shipments of China's large-scale chips, it deliberately sells chips at a price lower than the manufacturing cost.

  I studied it carefully and found that what they said was correct. Xinxin Group was implicated by me this time and suffered an unwarranted disaster. "

The two high-ranking people in front of them were obviously not fools, so Xia Jingxing acted very frankly, and explained the matter of parting ways between himself and Samsung frankly, and then based on the reactions of the two of them, he further decided on the next capital increase Which one should the scheme throw out.

  Mansur had heard about the breakup between Xia Jingxing and Samsung, and was very angry about it.

  Xinxin Group started from scratch, invested a total of 20 billion US dollars, merged several major chip manufacturers, and took several years to create the hard-won scene today.

Seeing that the most difficult time has finally passed, Elpida, Qimonda and other factories that were close to closing down have reopened, chip orders have been signed one after another, and Xinxin Group will become an emerging storage giant just around the corner. A price war broke out at this juncture, which made him very unhappy.

  However, he did not vent his anger on Xia Jingxing because of this, at least on the surface.

Mansur was very calm, and said in a gentle tone: "Daren, this has nothing to do with you. As a leading company in memory chips, Samsung will definitely do something after seeing the threat posed by Xinxin Group. some reaction."

Hearing Mansour's words, Huo Jing on the side thought about it for a while, and then expressed his opinion: "Samsung's approach can be said to hurt the enemy by eight hundred, and hurt itself by one thousand, because of the market they occupy. The share is higher, so the loss will be more serious than Xinxin Group.

  In addition, they are also provoking battles with their peers in multiple fields such as mobile phones, panels, and chip foundries. I don’t think they can last long.

  Mr. Xia, you don’t have to blame yourself. In my opinion, Samsung is mainly provoking trouble on purpose. "

Xia Jingxing smiled, and said again: "Anyway, this matter is all because of me, otherwise let's revise the investment agreement we signed before, and for the next four years, I will personally report to Xinxin Group How about capital injection?"

  Huo Jing's heart skipped a beat, but she quickly realized that she was fishing, trying to test her own reaction.

  If he and the Singapore government behind him did not support Xinxin Group enough, Xia Jingxing might turn around and cancel the follow-up cooperation plan.

   Moreover, the corresponding investment cooperation agreement has been signed in black and white before. If Temasek breaks the contract at this time, does it still have credibility in the eyes of investors and partners?

  Xia Jingxing said it nicely, and he carried it alone, but in fact he had already bound them to Temasek.

Thinking of this, Huo Jing's expression immediately became serious, and said seriously: "Mr. Xia, Temasek is a company that pays attention to credit and keeps its promises. It will never shrink back because of short-term interests. What we value is the long-term. , more in-depth cooperation.

  Samsung is known as the "price butcher", and everyone in the world knows it. Even if they don't make a move today, they will wield a butcher's knife tomorrow. "

  Xia Jingxing smiled slightly. The attitude of Po County Magistrate's wife was just as he expected. Before making a decision, she must look at the problem from a higher perspective.

As the largest technology investment project introduced since the founding of Singapore, Xinxin Group plays the role of the locomotive in this country, which can effectively drive the development of the entire chip industry chain in Singapore, balance the industrial structure, and not only solve a few jobs. , Paying some taxes is as simple as that.

  On the other side, Mansur also said righteously: "Daren, do you think our Mubadala company is so cowardly?

  I know that the chip price war is very tragic, but we UAE men are not afraid.

  Compared with some monetary gains and losses, we cherish the friendship with our partners more. "

  The so-called friendships are all based on greater cooperative interests.

  For example, Mubadala Investment Company and Abu Dhabi Sovereign Wealth Management Fund behind Mansour have subscribed to Vision Capital’s hedge fund of up to 20 billion US dollars.

  A considerable part of the billions of dollars that Vision Capital earned in Japan a few days ago belonged to the royal family behind Mansour.

  Through these overt or invisible cooperation and interest exchanges, Xia Jingxing and Vision Capital have actually expanded the circle of LP friends beyond China and the United States.

  If Samsung’s future methods are not limited to price wars, and start asking the masters behind it to take action, the governments of Singapore and the United Arab Emirates can stand up to help him share some political pressure.

  In short, Xia Jingxing was very satisfied with Mansur and Huo Jing's statement, so he stopped testing the two of them and started talking about his own solution.

  “As a new company that has just emerged in the industry, any old forces will not sit back and watch it rise peacefully.

  Samsung was the first to grimace at us. If Xinxin Group does not behave a little stronger, it is hard to say whether there will be other worse incidents.

   There is a famous saying in China: If you hit with one punch, you will avoid a hundred punches.

   Therefore, in the face of Samsung's provocative behavior, we should use our old fists.

No matter how much the price of Samsung's chips is reduced, we must reduce the price by 10% more on their basis, to extinguish their arrogance, and let Samsung and several other storage giants see our determination and put away these ridiculous little tricks . "

  Hearing Xia Jingxing's tough words, Huo Jing's liver trembled suddenly. She was used to careful planning, but she was still not used to Xia Jingxing's behavior of burning money.

As a son of a local tyrant, Mansur was never lenient when spending money, and he had already decided to support Xia Jingxing to the end, so he didn't hesitate even more, and said loudly: "I support, we must give the Koreans some color! They Fight price wars for as long as you want, fight with them for as long as you want, I don’t believe their money is also dug out of the ground!”

  Xia Jingxing's mouth twitched, such a cute and domineering oil tycoon, it's hard not to have a good impression of them.

   Seeing that both of them insisted on going head-to-head with Samsung, Huo Jing swallowed back the words he was about to persuade, nodded and said: "I also support it!"

Xia Jingxing said with a smile: "This is actually good for Xinxin Group. After seeing such a strong and fierce reaction from us, Samsung may die, and all the spearheads will be aimed at Fuxing Industry, and Xinxin will no longer be involved. group.

   This is called war and reconciliation! Koreans will definitely weigh it carefully. "

  Huo Jing thought about it seriously in his heart, and found that the possibility Xia Jingxing said really existed. Your Samsung Li family is powerful, but can you compare with the two countries standing behind Xinxin Group? It would be nice to be able to deal with Xia Jingxing alone!

  Mansur also rolled his eyes thoughtfully. In terms of financial resources, they have never been afraid of anyone! It would be best to show the momentum of the oil family and successfully scare off Samsung.

  Seeing that both of them were already thinking about it, Xia Jingxing promptly presented a capital increase plan—Singapore invested 3 billion U.S. dollars, Daxia Capital contributed 4 billion U.S. dollars, and Mubadala Investment Company contributed 8 billion U.S. dollars.

  The three institutions increased their capital by US$15 billion at one time!

  It is equivalent to distributing the funds that should be allocated next year and also allocated this year.

  Considering the upcoming price war and the plan to deter Samsung, Huo Jing and Mansur did not raise any objections, and readily agreed to the capital increase plan.

  After completing this round of capital increase, Xinxin Group’s shareholding structure will also undergo some changes.

  For example, Daxia Capital’s shareholding in Xinxin Holdings will drop from 80% to 62.5%, and Mubadala’s shareholding in Xinxin Holdings will increase from 20% to 37.5%.

  The shareholding platform of Daxia Capital and Mubadala with a combined 100% shareholding—Xinxin Holdings’ shareholding ratio in Xinxin Group remains unchanged at 80%, and Temasek continues to hold the other 20% of the shares.

  After the penetration of the shareholding structure, the shareholding ratio of the three institutions to Xinxin Group has become 5:3:2.

Unknowingly, Mubadala and Temasek have already owned half of Xinxin Group's equity. For this reason, the two institutions have invested 12 billion and 7 billion US dollars respectively. The sunk cost is already quite high. If something happens, I can only bite the bullet and deal with it.

Xia Jinghang's cumulative investment in Xinxin Holdings and Xinxin Group is US$16 billion, which is several billion less than the combined investment of Mubadala and Temasek. The reason why the shareholding ratio is equal to the two is mainly because the large As a founding shareholder, Xia Capital received a wave of value-added dividends when it acquired and integrated the assets of several major sectors of Xinxin Group.

  However, before the company really establishes a firm foothold in the industry and becomes a memory chip giant that is not weaker than Samsung and Hynix, it is meaningless to care about these things.

Counting this round of capital injection, the cumulative investment of the three institutions in Xinxin Group has reached a terrifying 35 billion U.S. dollars, but the valuation is only a mere 40 billion U.S. dollars, and it is still a bit false and not widely recognized by the industry. The output ratio is quite low.

  This is also a common problem in the chip industry, which requires investors to wait patiently and take a longer-term view.