"Mr. Chen, I understand everything you said. But the fact that Henglong is Financial Investment is the problem."
He raised his head and looked at Chen Xi,
"Green Energy Technology walked from the laboratory to Pilot Line for four years.
It will take at least two years to go from Thousand-Ton Scale Mass-Production Line to Commercialization at Scale.
In the past two years, without Industrial Capital's application scenarios and industry chain coordination, Green Energy Technology would not have been able to move fast just relying on Henglong's money.
Technology has a time window.
Today, my cost is 35% lower than the market. If another team catches up in two years, this window will be closed."
His voice lowered a bit.
"What I want is not the highest valuation, but the fastest speed."
Chen Xi tapped his fingers twice on the table.
Zhou Bingcheng's words reminded her of what Zhao Chen said on Board of Directors--
What a good founder cares most about is not how much his shares are worth, but how far the company can go.
Zhou Bingcheng is willing to use valuation concessions in exchange for the speed of Industrial Capital, which shows that he really wants to make Green Energy Technology.
"Mr. Zhou, Henglong can promise not to seek Decision-Making Rights."
Chen Xi's voice slowed down,
"No matter what the shareholding ratio of Henglong is, Henglong will not interfere with Green Energy Technology's daily operations, technical routes, or management decisions.
Henglong only requires two Board of Directors Seat, one for financial supervision and one for strategic coordination.
Henglong will always stand with the management, and Henglong's votes will be consistent with the management on any major decisions."
Zhou Bingcheng was silent for a few seconds, then slowly shook his head.
"Mr. Chen, I believe that Henglong will not interfere in business operations.
For four years, Henglong has never made any comments about Green Energy Technology except for reading the report every quarter.
Among Financial Investment people, Henglong does it very authentically.
But the problem is not that Henglong interferes in the operation, but that Industrial Capital does not care about Henglong's shareholding ratio."
He opened a document,
"There is one item in Dening Times's investment terms list - after this round of financing, Industrial Capital's total shareholding will not be less than 15%.
If Henglong does not give up the right to participate in the investment, Industrial Capital will not get 15%."
Chen Xi's brows wrinkled slightly.
Zhou Bingcheng brought over Dening Times's term sheet, indicating that Industrial Capital has entered Substantive Negotiation Stage, and his determination is much greater than Chen Xi expected.
The air in Meeting Room was silent for a few seconds.
The sunlight outside the window leaked through the gaps in the clouds, casting a slender spot of light on the table.
Chen Xi picked up the phone, flipped to a photo in the photo album, and turned the screen to Zhou Bingcheng.
The photo is a group photo of Zhao Chen and Elon Musk. The background is SpaceX Boca Chica Launch Site. The Starworm Prototype like Stainless Steel Water Tower stands in the sunshine of the Texas wilderness.
Elon Musk was wearing a gray T-shirt stained with engine oil, and Zhao Chen was standing next to him, looking side by side at the camera.
Zhou Bingcheng's eyes fell on the photo, and his pupils shrank slightly.
"Henglong holds 4.99% of the shares of Bidiya and is one of the largest external institutional shareholders of BYD."
Chen Xi's voice was calm and determined, "Chairman Mr. Zhao Chen of Henglong is currently meeting United States with Elon Musk."
She paused.
"Mr. Zhou, if the technical breakthrough data of Green Energy Technology is true, Henglong has the ability to let Green Energy Technology enter Supply Chain of Tesla."
Meeting Room was so quiet that only the faint sound of traffic outside the window was left.
Zhou Bingcheng's eyes were fixed on the photo, and his fingers tightened silently on the table.
Tesla Supply Chain.
He knows better than anyone what these four words mean to a start-up company called Energy Storage Materials.
Shanghai factory of Tesla is under construction, Elon Musk is screening batteries globally and Energy Storage Materials of Suppliers.
If you can enter Supply Chain of Tesla, Green Energy Technology will not only obtain one of the largest New Energy application scenarios in the world, but also obtain a pass that is enough to revalue all Industrial Capital.
But a group photo can't explain anything.
Zhou Bingcheng looked away and his voice was softer than before, but the caution in his tone did not decrease by half.
"Mr. Chen, I saw the group photo of Mr. Zhao Zong and Mr. Elon Musk.
But with all due respect - in China, there are many entrepreneurs who have taken photos with Elon Musk.
Taking a group photo does not mean cooperation, and meeting does not mean Supply Chain."
He gently pushed the phone back in front of Chen Xi.
"If Henglong really has the ability to get Green Energy Technology into Tesla Supply Chain, I need to see something more substantial.
For example, Tesla Supply Chain's formal contact letter from the department, such as the schedule for technical verification, such as--"
He paused, "Even if it's an email from the Tesla purchasing department."
Chen Xi did not answer the call.
"Mr. Chen, it's not that I don't believe Henglong.
But it took Green Energy Technology four years to get to where it is today, more than Two Hundred Million's R&D funds burned, and three Co-founder's gone.
I cannot use an uncertain promise as the basis for decision-making at the last step before mass production."
He stood up.
"Today's communication was very fruitful. I received Henglong's sincerity, and I also saw Zhao Zong's overseas influence.
But when it comes to the specific co-investment rights and valuation, I need to go back and have another round of communication with the management and Industrial Capital. We will make an appointment to discuss it again."
Chen Xi also stood up, stretched out his hand and shook it with Zhou Bingcheng.
"Mr. Zhou, if Green Energy Technology's technological breakthrough is true, Henglong will be its strongest supporter.
This point will not change regardless of whether the valuation can be agreed upon or not."
Zhou Bingcheng nodded, turned around and walked out Meeting Room.
After the door closed, Chen Xi leaned back on the chair and exhaled a long breath.
She lowered her head and glanced at the photo on the phone screen - Zhao Chen and Elon Musk were standing side by side in the sunshine of Texas, with Starworm glowing silvery gray behind them.
She asked for this photo from Su Wantang, originally just thinking "it might be useful".
I did use it today, but the effect was only enough to make Zhou Bingcheng hesitate, not enough to make him make up his mind.
Chen Xi picked up the phone and glanced at the time.
New York It's night now, Zhao Chen probably hasn't slept yet.
She made a video call.
When Zhao Chen picked it up, he was sitting in front of Floor-to-Ceiling Window from Hotel Room, holding a cup of Pu'er in his hand.
It was already dark outside the Manhattan window, and the outline of Central Park turned into a blurry shadow in the light.
"How was it?" he asked.
Chen Xi explained the negotiation process in detail.
Zhou Bingcheng's post-money valuation of 5 billion, 1 billion in financing, Industrial Capital's requirement to hold no less than 15% of the shares, her commitment to Henglong not to interfere in operations, and the last photo.