Why was it said that Qiming Electric would suffer heavy losses in the future?
This was mainly because Liu Yutong had barely even heard of this former electrical manufacturing giant in her past life. Combining this with some materials provided by Shen Hao, she finally figured out where the problem lay.
At that time, the display screens and related home appliance products produced by Qiming Electric occupied a significant share of the market.
The mainstream television screen technology of this period was CCFL, or Cold Cathode Fluorescent Lamps. This backlight technology had its advantages: the technology was mature, the supply chain was complete, and the costs were low. For manufacturers like Qiming Electric, who could independently produce display screens and televisions, continuing down the CCFL route was both stable and capable of maintaining high profit margins.
On the other hand, the newly emerging LED technology not only had higher costs but also required more complex driver circuits. Under normal circumstances, the price of an LED-backlit television or display screen was 50% to even over 100% higher than a CCFL television or display of the same size.
This led many conservative manufacturers and consumers to feel that spending so much extra money just to have a slightly thinner television with slightly better picture quality was simply not worth it.
Qiming Capital was a manufacturer firmly committed to the CCFL route, and thus they invested almost nothing in LED research and development. This resulted in their technology falling completely behind just a year later, causing their stock price to plummet continuously. Although they did not go completely bankrupt, they rapidly deteriorated from an industry giant into a bottom-tier manufacturer.
Shen Hao undoubtedly trusted Liu Yutong's vision. This needed no proof; after all, who among the members of the Yunshan Society did not submit to her now?
Since Liu Yutong determined that choosing the CCFL route was a mistake, then it had to be a mistake. As long as he could successfully take power, he would definitely push the company to invest in LED research and development, upgrade the production lines, and achieve a certain degree of transformation.
Additionally, as one of the giants in electrical manufacturing, Qiming Electric had a massive demand for microchips. Since Liu Yutong had decided to invest in building a semiconductor foundry, she first needed to ensure that there would be buyers for the chips they produced. Qiming Electric was an excellent prospective client, and a massive one at that.
This was exactly why, among the three major capital firms controlled by Liu Yutong, Mingzhu Capital was the first to announce a stake acquisition and held the highest percentage of shares. Her plan was to use Mingzhu Capital as the primary shareholder to invest in the construction of the wafer fabrication and packaging plants.
............
The internal strife within the Shen family was visibly escalating.
Right at this moment, a rather domineering voice suddenly echoed into the venue from outside the doors.
"Heh, what a fine drama of father and son turning against each other."
Everyone's attention was instantly drawn to the voice. They saw the richest man, Huang Yu, walking into the venue surrounded by several assistants.
"It's the richest man! The richest man is here!"
"Sure enough, as a major shareholder, how could he possibly miss the shareholder meeting?"
"Things just got a lot more complicated."
"I wonder whose side the richest man will take..."
"I feel like he might seize power too, considering he's a major shareholder now."
"........."
After arriving at the scene, Huang Yu did not take a seat. Instead, he walked straight up to the rostrum and directed a meaningful remark at Shen Hao, who was standing at the speaker's podium.
"Nephew Shen, it's a good thing for young people to have ambition, but choosing the wrong partners can lead to eternal damnation."
After saying this, he turned his gaze toward the representatives of the three capital firms seated below, led by Zhu Silin.
"Miss Zhu, this move played by you and the Miss Liu behind you is indeed brilliant. However, Qiming Electric is a real economy enterprise, not a tool for you to arbitrage. Don't you think it's a bit unkind to stir things up like this, making a father and son turn against each other and throwing their family into turmoil?"
Hearing this, Zhu Silin replied calmly, "Mr. Huang, all of our actions are legal and compliant, and what we are doing is for the good of the company."
Huang Yu sneered, ignoring her further, and turned to look at Shen Yanchang. "Chairman Shen, it seems this situation today must be settled once and for all. Then let me state my position. I am willing to support Chairman Shen in continuing to manage the company. After all, the real economy needs grounded people to run it. We can't really let some capital of unknown origin and some ignorant young people destroy a perfectly good enterprise, can we?"
Hearing the richest man actively voice his support, the two brothers, Shen Rui and Shen Ming, instantly showed joy on their faces.
"Mr. Huang is deeply righteous; our Shen family is endlessly grateful!"
Shen Yanchang seemed to have known the richest man's choice all along. His expression visibly relaxed, and he stood up, cupping his fists toward Huang Yu in a gesture of thanks.
"Thank you for your support, Mr. Huang. Have all the shareholders seen this? Who is the one truly thinking about the company!"
"Little Hao, you want your old man to step down so badly, but what a pity, you've underestimated your old man."
"Did you think teaming up with a few outsiders would be enough to make me step down? Take a good look at who the shareholders present and business leaders like Mr. Huang actually support. Everyone's eyes are clear; they all know who can truly lead Qiming Electric forward!"
"Everyone, I, Shen Yanchang, have been at the helm of Qiming for over twenty years. I dare not claim massive credit, but I have at least grown this company from a small local factory into an industry giant. As long as you continue to support me, I promise I will double the company's stock price at the very least!"
Following Shen Yanchang's declaration, coupled with the public backing of the richest man, Huang Yu, the previously wavering shareholders in the venue began to voice their support one after another.
"Since Chairman Shen has put it that way, I will continue to support Chairman Shen."
"Shen Hao is indeed too young. I support Chairman Shen as well."
"Even the richest man has stepped forward to endorse Chairman Shen, so I'll support him too."
"Me too..."
The title of the richest man simply carried too much persuasive power!
If Huang Yu had not stated his position, the outcome would have been hard to predict. But now that he had publicly supported Shen Yanchang, they weren't about to go against the richest man. Letting Shen Yanchang continue as chairman wasn't unacceptable.
Although what Shen Yanchang had done previously wasn't very pretty and had even harmed the shareholders' interests, he was still more reliable than Shen Hao, a young man who hadn't achieved any track record yet, right?
Soon, a rough count on the scene showed that the percentage of shareholders explicitly supporting Shen Yanchang and opposing the dismissal motion had surpassed fifty percent.
The situation seemed excellent!
Shen Rui and Shen Ming wore smug expressions. They looked at their eldest brother and mouthed the words: Big brother, you're still too green!
Shen Hao's expression remained entirely normal, as if he hadn't realized he was about to lose.
In the eyes of his two younger brothers, his calm demeanor was nothing more than a desperate attempt to maintain his composure and put on a brave face.
The host didn't waste any time and prepared to push forward to the voting phase.
"Then, regarding the motion to dismiss Shen Yanchang, Shen Rui, and Shen Ming from their positions..."
Bang!
The doors of the conference room were pushed open from the outside once again, interrupting the host's words.
There, backlit against the light in the doorway, a silhouette appeared.
She was a very young woman, looking no more than eighteen or nineteen, dressed in a custom-tailored black suit. She possessed an almost flawless face, and her eyes were strikingly bright. Yet, they held not a single trace of a young girl's delicate charm or innocence; instead, she exuded an overwhelming sense of intimidation.
She simply stood there with one hand tucked into her trouser pocket. Before she had even uttered a single word, her powerful aura caused the originally noisy venue to rapidly fall dead silent.
"Who is this girl?"
"Never seen her before. Is she the daughter of one of the shareholders?"
"So young and beautiful, but her presence is seriously intense!"
"Did you guys notice the bodyguards behind her? All dressed in black, they give off a bit of an underworld vibe!"
"..."
Amidst the crowd's bewildered and anxious whispers, the young woman in black strode forward. Wherever she walked, people unconsciously stepped sideways, parting to make a path for her.
Zhu Silin immediately stood up, voluntarily giving up his front-row seat, and greeted her in a low voice, "Sister Yutong."
Liu Yutong did not stand on ceremony. She sat right down in the seat Zhu Silin had vacated and crossed her legs. Her posture was elegant yet carried a distinct, overbearing dominance as she addressed the room.
"Where did the discussion leave off? Please give me the report from the top."
