Wang Qinghua once again witnessed the work efficiency of Shanchi Technology.
On the evening of the 9th, the very night after the preliminary cooperation agreement was reached with Tan Jincheng, Shanchi Technology's audit team arrived at Gusu Industrial Park.
Accompanying them were three financial personnel and one lawyer, fully prepared.
"Mr. Tan, you prepared for this in advance?"
"You could say that. Our initial plan was to cooperate with Bafang Electric, but if the cooperation goal couldn't be achieved, we would acquire a company in Su Province,"
Tan Jincheng confessed.
"You don't have to be so direct,"
Wang Qinghua thought, feeling a little dejected.
After two days, Wang Qinghua had probably gained some insight into Tan Jincheng's work style: he was quite direct.
If something could be discussed, he would discuss it; if not, it was a no-go.
For example, the 51% share was non-negotiable.
Nothing he said helped.
He had previously tried to negotiate the share down to 49%, which was already much higher than his initial expectation of 30%, but unfortunately, it was a no-go.
However, the plan for cross-shareholding with Shanchi Technology was easily agreeable, simply following Beicang Urban Investment's standards without any additional conditions.
In summary, if he was willing, he was easy to talk to; if not, there was no room for discussion.
He truly had an overbearing personality.
It seemed that future collaborations with Shanchi Technology would require caution.
The company was still his, but the development direction needed to be communicated with the other party in advance to prevent him from exercising his investor rights.
May 12th, Friday.
On the last working day of the week, Shanchi Group and Bafang Electric officially signed a strategic cooperation agreement, and Wang Qinghua transferred 51% of his shares in Bafang Electric to Shanchi Group.
In exchange, he received a 5% stake in Shanchi Technology, a subsidiary of Shanchi Group, along with 20 million yuan in cash.
Based on the cash provided by Beicang Urban Investment, Tan Jincheng's current valuation of Bafang Electric was around 240 million yuan, which could be considered very generous.
Wang Qinghua was very satisfied with this valuation.
Furthermore, this 20 million yuan was allowed to be put into Wang Qinghua's own pocket, to be spent however he wished.
This was also one of the reasons that swayed Wang Qinghua; after three years of entrepreneurship, although he lost more than half of the company's shares, he could genuinely cash out 20 million yuan, officially becoming a multimillionaire.
Who could refuse that?
"Mr. Wang, happy to cooperate."
"Mr. Tan, happy to cooperate."
Regardless of any unpleasantness during the negotiation process, both parties were happy the moment the agreement was officially reached.
Tan Jincheng got what he wanted, and Wang Qinghua also secured his interests.
Wang Qinghua was a technology-oriented boss, relatively easy to satisfy.
Being able to cash out a portion and still operate the company himself, he was quite content with the current outcome.
In particular, Tan Jincheng's remark, "Technology can make breakthroughs, but time waits for no one," filled him with a sense of urgency.
Moreover, in his own opinion, Bafang Electric wasn't worth that much money.
He greatly admired Tan Jincheng's generosity for giving such a valuation.
The young man was a bit overbearing, but he was very generous with his spending.
The leaders of Gusu Industrial Park were also alerted by this strategic investment agreement.
They greatly welcomed Shanchi Technology's entry into the industrial park in this manner.
Recently, Shanchi Technology could be said to be the most discussed company in China's electric vehicle industry, with manufacturers across the industry paying close attention to its movements.
Tan Jincheng announced at a press conference that Shanchi Technology would conduct independent research and development for motor projects.
Manufacturers were watching to see if Tan Jincheng was bluffing, while major electric vehicle industrial bases were concerned about where Tan Jincheng would choose to locate the motor factory.
However, no one had ever expected Tan Jincheng to get involved in independent R&D in such a way, including the leaders of Gusu Industrial Park.
In today's traditional industries, manufacturers with this kind of financial thinking are relatively few.
Most manufacturers' operational thinking involves launching a project, selecting a site to build a factory, then recruiting personnel and workers, and finally starting production.
"We welcome Mr. Tan's Shanchi Technology to our Gusu Industrial Park. The entire industrial park will do its utmost to serve all companies within the park."
"I wouldn't dare. It is a great honor to invest in your esteemed location. Gusu is a city I aspire to, and it is my privilege to participate in its urban development,"
Tan Jincheng said.
With the leaders personally appearing, it certainly couldn't just be a few polite words.
Necessary cooperation had to be offered, and donations couldn't be omitted.
Fortunately, the actual cash needed for this acquisition was only 20 million yuan, so money was not an issue.
Moreover, Tan Jincheng no longer cared much about appearing in front of the media.
Since the current popularity wouldn't subside anyway, he might as well push it further, which would be beneficial for subsequent actions.
For the employees of Bafang Electric, the most direct feeling after the company changed owners was that everyone would have social insurance starting next month!
In addition, every employee's salary increased by 15% compared to the previous year, a company-wide raise!
Furthermore, Tan Jincheng also started paying Wang Qinghua a salary.
Previously, he didn't draw a salary at Bafang Electric, but after the change in ownership, he also began receiving a salary.
A monthly salary of 20,000 yuan was not much for Wang Qinghua, who had already cashed out 20 million yuan, but it was a gesture, representing the new boss's goodwill.
This was one of Tan Jincheng's ways of winning people over.
For someone like Wang Qinghua, who had ambitions and ideals, "drawing a cake" (promising future benefits) might work; but for ordinary grassroots employees, it would be a bit unethical.
Paying money and raising salaries was the most practical approach.
This single move resolved the unease among Bafang Electric's employees caused by the change of ownership.
Wang Qinghua also saw another side of Tan Jincheng: extremely stingy when he should be, refusing to discuss Shanchi Technology shares if they exceeded 5%, but absolutely generous when he should be.
The previous Bafang Electric could not provide social insurance for all employees, which would significantly increase the company's expenses.
However, he couldn't object to this.
If the new boss came to give employees bonuses and he, the former boss, objected, he would probably lose even his 49% stake, and the employees would rebel against him.
After the acquisition was completed, Tan Jincheng was not in a hurry to return.
He planned to stay in Gusu for half a month to thoroughly review Bafang Electric's business and personnel structure.
Wang Qinghua would primarily lead the subsequent business operations, but Tan Jincheng still needed to understand the situation of Bafang Electric.
"Mr. Tan, do you think the company's name should be changed?"
After working together for some time, Wang Qinghua had developed a certain understanding of Tan Jincheng.
He had to admit that this young boss, who could grow a company so large, was truly capable.
He didn't understand technology, but he always came up with some pretty good ideas.
This was quite peculiar.
For example, the company was researching a project to add a power system to bicycles, internally called "electric pedal bikes," which would provide auxiliary power through a motor drive system, thereby changing the way bicycles are ridden.
He pointed out that if everything changed, it would be meaningless.
The fun of a bicycle lies in riding it.
If it completely changed, wouldn't it become an electric scooter?
Therefore, mechanical power should only serve an auxiliary role, and human power should remain primary.
"In current life, bicycles are a means of transportation, but with the improvement of living standards, especially in developed countries in Europe and America where living standards are far higher than ours, bicycles are not just a simple means of transportation; they are more of a pleasure."
A simple sentence made the R&D team decide to overturn their previous research direction.
Wang Qinghua thought about it and realized it was true.
Bafang Electric, previously focused solely on survival, had largely concentrated its attention on the domestic market.
In their view, electric vehicles were still a bit expensive for many people.
If they could develop bicycles with added electric drive systems that were cheaper than electric scooters, the market should be considerable.
But these technical people, including himself, were not as sensitive to market economics as Tan Jincheng.
"Conducting R&D is correct, but you can't do it blindly. You need to see what the market needs now and what it will need in the future. Only then will investment yield results; otherwise, it's a waste."
These were Tan Jincheng's words to the R&D team, and he also suggested that R&D personnel go out more often instead of just staying in front of computers imagining things out of thin air.
"No need. This name is fine. Bafang is quite good. We want to take our business in all directions,"
Tan Jincheng said with a smile.
What does a company name matter?
Besides, he considered himself terrible at naming things; a new name might not be as catchy as the current one.
"Alright then, let's proceed with the share transfer, business license changes, and so on,"
Wang Qinghua nodded.
He was also somewhat moved inside.
He had chosen the name.
Whether he admitted it or not, Tan Jincheng was now the boss, and he was at most a professional manager.
It would have been perfectly justifiable for Tan Jincheng to change the company's name, but he didn't.
"There's a meeting for component companies here in the industrial park, similar to an association gathering, happening the day after tomorrow. Mr. Tan, do you want to attend?"
"I'll pass. If you want to attend, go ahead. Just continue doing things as you did before. I've said I won't interfere with these specific matters, and I won't. These past few days, I've just been gaining a general understanding of the company. Mr. Wang, don't overthink it."
"How could I? What boss doesn't understand their own company?"
He wasn't overthinking it, but Wang Qinghua did feel a bit lucky.
Mr. Tan, who didn't understand technology, had strong market foresight and excellent learning ability.
He could look at a design approach and offer his own opinions.
Yet these weren't amateur suggestions dictating to professionals; they were always substantial.
Such a person was truly formidable.
If he hadn't agreed to cooperate with Shanchi a few days ago, Tan Jincheng might have disassembled and analyzed their motors, then poached a group of people from the company, which could have truly dealt a heavy blow to Bafang Electric.
He had heard over the past few days that when Mr. Tan visited Ya Di's R&D department, he verbally stated he wouldn't poach people, but several Ya Di engineers had secretly resigned recently and joined Shanchi Technology.
Ya Di's boss was furious, but there was nothing he could do.
There were also rumors that Xin Ri's plan to invite Brother Long as an endorser was accidentally leaked by Xin Ri's boss during Mr. Tan's visit.
Mr. Tan then swiftly signed Zhou Jielun to counter Brother Long's popularity.
Listen to that, listen to that, is that something a person would do?
If he really hadn't agreed to him, Bafang Electric's R&D team would probably have been completely poached, wouldn't it?
(End of Chapter)