DipNovel Chapter 7 Qiu Zhanfeng's Ashen Face
Chapter 7 Qiu Zhanfeng's Ashen Face
Having finalized the company's equity structure, Lin Chuan opened the group chat on his phone and tagged everyone:
[You all come here and bring your ID cards, proof of residence, and other documents. Everyone bring them. We'll go to the Industry and Commerce Bureau this afternoon to register the company and submit the application.]
Zhang Wei: [OK, no problem.]
Cheng Siyuan: [What's going on? Registering a company doesn't require this many people's documents, right?]
Jiang Miaolan: [Lin Chuan arranged initial shares for 15 of us, 1% each. Shareholder identification is required for company registration.]
Si Mingche: [Holy crap, we didn't invest a single penny and we can directly get 1% of the original shares?!]
Lin Chuan: [Since my brothers trust and support me so much, of course I have to go the other way. You all know what kind of person I am; I don't play games or make empty promises.]
Huang Chongwei: [No need to say more, no need to say more. All the brothers know what kind of person our boss is, and that's the fundamental reason why we resigned without hesitation.]
Zhang Wei: [To grow bigger and stronger, and create new glories!]
Guo Tao: [Having wandered for half my life, I only regret not having met a wise ruler. Now, having met you, sir, I feel like a fish in water, a bird returning to its nest. If you do not reject me, I wish to become your godfather! Godfather above, I accept your bow!]
Cheng Siyuan: [Me too (Zhang Fei clasped his hands in a fist.jpg)]
Si Mingche: [Me too (Zhang Fei clasped his hands in a fist.jpg)]
Group members: [Me too (Zhang Fei clasped his hands in a fist.jpg)]
Lin Chuan: [Alright, alright, that's enough. Let's get down to business. Bring all your documents.]
……
Zhang Wei and the others immediately took their identification documents to Lin Chuan's house. Everyone was very happy and even more convinced that they had not followed the wrong person.
Moreover, I'm glad I made the decisive decision to leave; otherwise, I would not only have missed out on becoming a founding team member of DeepBlue Technology, but also the opportunity to become an original shareholder of the company.
Although the company has not yet been registered, everyone believes that Lin Chuan can lead them to create a successful business again.
Everyone knows that this 1% of the original shares not only represents Lin Chuan's willingness to share the fruits of his labor, but also signifies that they will become the core of Deep Blue Technology and the most trusted members of Lin Chuan's core team.
Moreover, 1% may seem like a small amount, but it is actually quite a lot.
Now everyone has seen the equity structure of DeepBlue Technology posted by Jiang Miaolan. Su Qingyue invested 1000 million yuan and only holds 18% of the shares. Based on this shareholding ratio, DeepBlue Technology is valued at more than 5500 million yuan.
A 1% equity stake corresponds to a valuation of over 55.
Although it's just paper wealth now, as DeepBlue Technology grows, this 1% equity stake will become increasingly valuable.
……
In the afternoon, Lin Chuan took Jiang Miaolan to the Industry and Commerce Bureau.
The required materials include the company's articles of association, shareholder identification documents, proof of address, and capital verification report.
Zhang Wei and the others did not go together. It is not necessary for all shareholders to be present in person; the company's legal representative can handle the relevant procedures.
It is worth mentioning that DeepBlue Technology's first product was a stealth combat system for individual soldiers, which is a military product.
Normally, relevant qualifications and certifications from the military industry are required.
These certificates are very difficult to obtain. Given Lin Chuan's current situation, it is virtually impossible for a startup private enterprise to obtain the relevant qualifications and certifications.
However, Lin Chuan was not worried about this problem at all.
He had DeepBlue Technology register as a normal private startup technology company, instead of directly applying for qualifications in the military industry.
When the time comes, we can simply produce a sample of the stealth technology and show it to the military. Deep Blue Technology will then have this unique skill, and the relevant qualifications and certifications required for making military products will no longer be a problem.
They will definitely handle this as a special case and give the green light to complete the qualification process.
There's no need to worry about qualifications or certifications right now; just get the product out there first.
The entire process of registering a company will most likely take 15 to 30 working days.
The current process is relatively complicated. You need to obtain all three certificates: the business license is obtained from the Administration for Industry and Commerce, the organization code certificate is obtained from the Quality and Technical Supervision Bureau, and the tax registration certificate is applied for from the competent tax authority.
At this time in 2010, the "three certificates in one" system had not yet been implemented and would not be implemented nationwide until 2015.
After the process was completed, while waiting for the approval process, everyone was busy and started to deal with matters such as the company's office space and the purchase of office equipment.
Lin Chuan estimated that once he had sorted out these matters, the three certificates would be issued around that time.
……
Skyworth Technology, Chairman's Office.
Qiu Zhanfeng's assistant hurriedly pushed open the office door.
"Mr. Qiu, something's happened!"
"What is it?" Qiu Zhanfeng frowned.
His assistant immediately reported: "Huanan Changhui Group just sent a letter to terminate its annual cooperation agreement with Skyworth."
Qiu Zhanfeng suddenly stood up: "What?!"
Changhui Group is one of Skyworth Technology's largest customers, with orders accounting for 20% of the company's total revenue. The two parties have always had a very pleasant cooperation.
"What's the reason?"
"They said..." The assistant hesitated for a moment, but still said, "They said they don't trust the current team. They only trust Lin Chuan, and they won't renew his contract unless he returns to Skyworth."
Qiu Zhanfeng's face immediately turned ashen.
Please ask Lin Chuan to come back?
How could that be?
Only after driving them away did they divide up his shares.
If we go and ask them to come back now, wouldn't that be like slapping ourselves in the face?
"Talk to them," Qiu Zhanfeng said, suppressing his anger. "Tell them that our current technical team is still very strong and can continue to provide them with high-quality service..."
"We've already talked to them," the assistant replied with a bitter face. "But they're adamant, saying it's a decision made by their board of directors and there's no room for negotiation."
Qiu Zhanfeng sat back down in his chair, feeling a nameless anger rising within him, yet unable to find an outlet for it.
He gritted his teeth and said, "Losing one customer is nothing, it's not the end of the world. We have other customers and two other major product lines. This is just a period of growing pains. Once the growing pains are over, everything will be fine."
Since Lin Chuan left, Skyworth Technology has been experiencing a series of misfortunes.
It is worth mentioning that Shenhong Venture Capital's withdrawal of investment was finally completed within this month.
Qiu Zhanfeng cobbled together various measures, first adjusting the company's salary structure and abolishing the compensation system previously established by Lin Chuan, euphemistically calling it optimizing the company's human resources structure, which in reality meant reducing salaries.
Then he transferred some money from the company's account and used the shares as collateral to obtain funds from the bank.
They finally managed to raise around 1 million yuan and repurchase all the shares held by Shenhong Venture Capital.
This portion of the shares returned to Qiu Zhanfeng and other management personnel. Combined with the shares previously left by Lin Chuan, Qiu Zhanfeng has become the absolute majority shareholder of Skyworth Technology.
The cost was that a significant portion of the company's cash flow was drained, and it also incurred new collateralized loans.
To boost morale, Qiu Zhanfeng hosted an internal victory celebration banquet.
Ostensibly, it was to celebrate the successful completion of the company's "strategic adjustment," clearing away obstacles.
In reality, it's sending a signal to the outside world that Skyworth Technology can thrive even without Lin Chuan.
At least that's what Qiu Zhanfeng thinks now.
……