President Huang, whose full name was Huang Bin, called Xu Mengyao.
Since Xu Mengyao was already a shareholder of StarDream Technology, an internal share transfer would not require approval from the other shareholders if she was the buyer.
"President Xu, do you have a moment?" Huang Bin asked after the call connected.
"What is it, President Huang?" Xu Mengyao replied.
"It's like this," Huang Bin said. "I'm getting old. I don't have the drive you young people do anymore. I'm thinking of selling my shares in the company. Are you interested?"
Xu Mengyao's eyes lit up.
She hadn't expected Tianhe Group's pressure campaign to have this kind of side effect.
The Xu family didn't have a great deal of liquid cash available, and if too many shareholders wanted to sell, they probably wouldn't be able to buy them all.
But she knew Lin Chen had billions in cash on hand.
Besides, while outsiders weren't optimistic about StarDream Technology's future, she had absolute confidence in the company now.
If other shareholders wanted to sell their shares to her, that was nothing but good news.
"President Huang," she said calmly, "the company's operations are perfectly normal. Wouldn't it be better to keep your shares and earn more money in the future?"
She couldn't appear too eager. In fact, she needed to sound somewhat reluctant.
Otherwise, after buying one shareholder's stake, the others would become much harder to negotiate with.
"I'm old," Huang Bin sighed.
"I'd rather cash out and enjoy my retirement. Stability is more important."
Xu Mengyao continued persuading him.
"You should have faith in the company's future. The rumors surrounding the company are only temporary. As long as we stand together, we'll get through this."
"I'm sorry, President Xu."
"I've already made up my mind."
"If you're not interested, I'll ask someone else."
After a long silence, Xu Mengyao replied,
"Everyone has their own plans. Since you've decided, I won't try to stop you."
"What price are you asking?"
"StarDream Technology is currently valued at nine billion yuan. My six percent stake is worth 540 million according to that valuation."
"The company is still growing, so how about a thirty percent premium?"
Xu Mengyao almost laughed.
"A premium is reasonable during rapid expansion and financing rounds," she answered. "But the company's growth has slowed, and competition in the drone industry is extremely fierce."
"A thirty percent premium? That's a bit much."
"Why don't you ask the other shareholders first and see if anyone wants it?"
"It's getting late. Let's talk tomorrow."
With that, she hung up.
Huang Bin looked uneasy.
His wife had just finished showering and saw him smoking in the living room.
"How did it go? Didn't you reach an agreement with the Xu family?"
He shook his head.
"I asked for a thirty percent premium. President Xu told me to ask someone else."
"I already called two people, but neither of them wanted to buy."
His wife sighed.
"You really are clueless."
"If you were Xu Mengyao, would you agree?"
"DJI is blocking the industry with patent barriers. It's already difficult enough for drone companies to break through."
"And by calling other shareholders, you might have given them the idea to sell too."
Huang Bin took a deep drag from his cigarette.
"This is practically all our family's wealth. I just wanted to get a better price."
"What if someone wanted a larger stake?"
His wife shook her head.
"You'd be lucky to sell at the current valuation."
"Remember President He?"
"His company was once valued at five billion yuan, but later he couldn't even sell it for one billion."
"That's different," Huang Bin argued.
"His company had heavy assets. During valuation, the equipment was priced at its original purchase value, but in reality it wasn't worth nearly that much."
"StarDream Technology is a high-tech company with good growth prospects."
His wife wasn't convinced.
"If the company were truly doing that well, losing a hundred-thousand-unit order wouldn't matter. Another order would replace it immediately."
"And you wouldn't even be thinking about selling."
"You want a thirty percent premium. What if someone else is willing to sell at a discount?"
"How much cash do you think the Xu family can actually come up with?"
"They benefit the most from increasing their controlling stake, so they're the most likely to pay a good price."
"Who else would spend that kind of money?"
Huang Bin's expression changed.
"I'll call Xu Mengyao again."
He dialed her number.
The line was busy.
At that moment, Xu Mengyao was on the phone with Lin Chen.
One minute...
Two minutes...
He kept trying every minute.
More than ten minutes later, the call finally connected.
"President Huang, let's discuss it tomorrow," Xu Mengyao said.
"I thought about it again," Huang Bin hurriedly replied.
"The company is under some pressure right now. A thirty percent premium really isn't appropriate."
"How about just ten percent?"
"You should keep your shares," Xu Mengyao answered.
"The company may really take off over the next few years."
"You'll regret selling."
Huang Bin's heart skipped a beat.
Had another shareholder already sold to her while she'd been on the phone?
As for her talk about the company taking off...
That might fool a child, but not him.
"President Xu."
"I'll sell at the current valuation."
"The company is still developing. Selling at today's valuation should be acceptable, right?"
Xu Mengyao paused before replying.
"If it's at the current valuation... I'll think about it."
"When I return, I'll give you a definite answer."
"I'll be back within a week."
A week?
That wouldn't do.
If other shareholders sold first—especially at a discount—there was no way she'd still buy his shares at full price.
"President Xu," Huang Bin said anxiously, "if I have something weighing on my mind, I can't even sleep."
"How about we settle everything tomorrow morning?"
"Even if you're away, you can authorize someone."
"Your father is still in Shanghai."
Xu Mengyao let out a light sigh.
"It seems you've really made up your mind."
"Fine."
"Go see my father tomorrow."
"You can sign a preliminary agreement with a penalty clause."
"The official share transfer can wait until I return."
"If you're worried we'll back out, set the penalty high."
"But please keep this confidential."
"Of course," Huang Bin quickly agreed.
"Sorry to bother you."
After hanging up, he finally breathed a sigh of relief.
Being able to sell at the current valuation was already a good outcome.
His previous drone company had only been worth around 400 to 500 million yuan.
When it merged, he'd received 300 million yuan in cash plus a six percent stake.
Adding the cash to the current value of the shares, he'd already made a profit.
Even though most of the original 300 million had been spent, selling these shares would still leave him with more than his company's original valuation.
"It's settled, honey," he said to his wife.
"Tomorrow I'll meet Chairman Xu and sign the preliminary agreement."
"When President Xu returns, we'll complete the official share transfer."
"Don't tell anyone. We don't want any unexpected complications."
His wife nodded.
"Then get up early tomorrow."
"Prepare the contract tonight."
"Alright."
Huang Bin nodded.
"Maybe cashing out isn't such a bad thing."
"A lot of industries are struggling these days."
"A company that's doing well this year could easily go bankrupt next year."
Not long after reaching an agreement with Huang Bin, Xu Mengyao received another call.
This shareholder owned 4% of StarDream Technology.
Together with Huang Bin's 6%, that amounted to 10% of the company's shares.
Like Huang Bin, he also agreed to sell at the current valuation.
Before calling her, he'd already contacted several other potential buyers.
None of them were willing to purchase at StarDream Technology's present valuation.
The Xu family already controlled enough shares that outside investors would have little influence.
Since the company was no longer in its explosive growth phase, nobody wanted to take that risk.
"So, wife, how did it go?" Lin Chen asked.
He was already lying in bed when Xu Mengyao walked into the bedroom.
"Done."
"I've reached agreements with two shareholders."
"Together they own ten percent of the company."
"Honey, when the time comes, you should buy those shares."
Lin Chen smiled.
"Come to bed first."
"Come over here."
"I want to hold you while we sleep."
-----------------------
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