In late September, the Shan City summer heat finally began to subside. Zhao Chen had just gotten out of a lengthy Henglong Real Estate Sector third quarter summary meeting and was about to return to the office for a cup of tea.
The cell phone rang.
What was displayed on the screen was an unfamiliar United States number. Zhao Chen hesitated for a moment and picked up.
"Zhao." The voice on the other end of the phone was hoarse and rapid, with a unique speaking speed, "It's me, Elon."
Zhao Chen was stunned for a moment.
If he calculated correctly, it was still midnight at United States.
And Elon Musk took the initiative to call him, which is unusual.
The last time the two talked was before Put Option closed its position. At that time, Elon Musk was worried that Era Vanguard was going to liquidate Tesla's position, and his tone was full of anxiety.
But this time, Elon Musk's voice sounds different - a little less anxious and a little more relaxed.
"Elon." Zhao Chen put down the tea cup in his hand and leaned on the back of the chair, "Long time no see."
"I heard you flattened Put Option."
Elon Musk went straight to the topic without exchanging pleasantries, "People from the three investment banks are complaining, saying that Era Vanguard made them hundreds of millions."
Zhao Chen smiled. "The market is highly volatile, and they are willing to admit defeat."
There was silence on the other end of the phone for two seconds. "Zhao,"
Elon Musk's voice suddenly became serious, "I want to thank you."
Zhao Chen said nothing.
"When I learned that you bought Put Option, I felt uncomfortable."
Elon Musk said, speaking slower than before, "I thought the market was betting that Tesla would fall. Later you told me that you were just hedging risks, not for Short Selling Tesla.
You told me that you would not sell Common Stock. You did it. Put Option was sold out, but Common Stock was still there. There were 16.6 million shares, and none was sold."
Zhao Chen picked up the tea cup and took a sip. "I said I wouldn't sell it, so I won't sell it."
"That's why I want to thank you." Elon Musk said,
"Everyone in the market is running. Short Sellers is in Short Selling. Retail investors are panicking and institutions are reducing their positions.
You didn't run. Not only did you not run, you also hedged your risk with Put Option, and then continued to hold Common Stock.
Not everyone can do this."
Zhao Chen was silent for a moment and lowered his voice.
"Elon, I invested in Tesla because I believe you can make this company a success.
It's not because I need short-term returns. This judgment has not changed since the first day."
Elon Musk paused on the other end of the phone, and then changed the topic.
"Zhao, SpaceX is planning a new round of financing."
Zhao Chen's fingers tapped lightly on the table.
"Our expected financing scale is about 500 million US Dollar, and the valuation is still being discussed. Fidelity is interested, but is still hesitating about the share."
Elon Musk's speaking speed returned to its usual rhythm, "I want to ask you - Era Vanguard are you interested?"
Zhao Chen almost did not hesitate. "Interested."
Elon Musk said, "You took the 100 million US Dollar new share quota very happily last time.
You also received a lot from the initial shareholders. This time, if you want, you can take more."
Zhao Chen thought for a while and said something that surprised Elon Musk.
"Elon, I hope Era Vanguard can lead the investment."
There was silence on the other end of the phone for two seconds.
"Lead investment?" Elon Musk repeated.
"Yes. Lead the investment." Zhao Chen's voice was very calm,
"Fidelity is a Financial Investment person, they just leave after voting.
Era Vanguard is different. I hold shares of Tesla, I hold shares of SpaceX, and I have positions in both of your companies.
I understand what you are doing better than Fidelity, and I have more patience.
If you need a major shareholder on your side, Era Vanguard is that guy."
Elon Musk was silent for a while.
"I need to discuss the matter of leading the investment with Board of Directors. SpaceX's financing is not my decision alone."
Zhao Chen said, "Understood. If you have discussed it over there, let me know at any time."
"Okay." Elon Musk said, then paused and seemed to remember something, "Zhao, there is one more thing."
Zhao Chen Waiting for him to continue.
"Tesla In the third quarter, I expect to achieve profitability."
Zhao Chen's fingers paused for a moment.
"Model 3 production capacity has finally increased." Elon Musk said, with a rare certainty in his voice.
"Fremont Factory's weekly production capacity exceeded 5,000 units in the last week.
Although the average production capacity for the entire quarter has not yet reached this level, the trend has already emerged.
The third quarter Financial Report will be released in late October, and you will see the numbers then."
Zhao Chen leaned on the back of the chair and raised the corners of his mouth slightly.
He knows that Tesla will achieve profitability in the third quarter of 2018 - this is the memory of Previous Life, and it is also one of the reasons for his heavy holding of Tesla.
But when I said it from Elon Musk's mouth, it still felt different.
"I have no doubt about the future profitability of Tesla."
Zhao Chen said, his voice was very calm, "It has been since the first day."
Elon Musk seemed to smile. "Zhao, you are more confident than me sometimes."
Zhao Chen did not answer the call.
"I will promote SpaceX's financing as soon as possible." Elon Musk said,
"The valuation is about 20 billion US Dollar. Regarding the lead investment, I will give you an answer after discussing it with Board of Directors."
"Okay." Zhao Chen said, "I'm waiting for your news."
The phone was hung up.
Zhao Chen put the phone on the coffee table, leaned on the sofa, and looked at the sky outside the window.
Era Vanguard already holds more than 4% of SpaceX's shares. If it can lead this round of investment, the shareholding ratio will further increase.
Su Wantang walked in with tea, saw Zhao Chen leaning on the sofa in a daze, and asked softly.
"Whose phone number?"
"Elon Musk." Zhao Chen took the teacup,
"SpaceX is going to raise funds and invites Era Vanguard to participate. I want to lead the investment."
Su Wantang sat down opposite him. "Lead the investment? Is he going to agree?"
Zhao Chen shook his head.
"He wants to discuss it with Board of Directors. But I can see that he is willing to let me in.
The last time he gave up the quota for new shares, he already regarded Era Vanguard as one of his own.
If the negotiation is successful this time, Era Vanguard's shareholding ratio in SpaceX will exceed 5%."
He took a sip of tea and looked out the window. "He also told me that Tesla will be profitable in the third quarter."
Su Wantang didn't answer, just looked at him quietly.
Zhao Chen Put down the teacup.
"In late October, when Financial Report comes out in the third quarter, the market will recognize Tesla again.
At that time, those who ran away during the privatization storm will regret it."
Su Wantang said softly, "So your Common Stock will continue to hold it."
Zhao Chen nodded. "I won't sell one share."
Zhao Chen closed his eyes, the words of Elon Musk were still spinning in his mind--
Tesla's third quarter profit is coming soon.
Then sooner or later the stock price will rise to above 400 US Dollar.
SpaceX's new round of financing is valued at 30 billion US Dollar.
If Era Vanguard can lead the investment, the shareholding ratio will exceed 5%. When SpaceX is listed in the future, the value of these shares will increase several times or even dozens of times.
He opened his eyes, picked up his phone, and sent a message to Lin Shicheng:
"Lawyer Lin, SpaceX's new round of financing, Era Vanguard wants to participate.
The goal is to lead the investment. Please prepare yourself. The valuation is about 30 billion US Dollar.
After the specific share is determined by Elon Musk, you will be responsible for connecting with the investment bank."
Lin Shicheng replied quickly:
"Received. Mr. Zhao, leading the investment means that the share that Era Vanguard needs to subscribe for will be relatively large, and funds need to be prepared in advance."
Zhao Chen thought for a while and replied, "Era Vanguard still has two billion US Dollar in cash on his account.
If you can, you can use it to buy SpaceX shares. You don't have too many SpaceX shares."
Lin Shicheng replied with one word, "Okay."
Zhao Chen's goal is that after each round of financing, Era Vanguard's shareholding ratio will not be diluted, and it is best to continue to increase.