Free Web NovelChapter 253: Chapter 217: Closing Price: 4.58 Billion Yuan! Gaode’s CEO Candidate?
’This man is far smarter than Cheng Congwu!’
"Of course, President Chen. This way, please!" Hou Jun said with a broad smile.
The group walked into the lobby, took the elevator, and arrived on the second floor.
As they walked, Cheng Congwu introduced the place to Chen Yansen. "President Chen, this is Gaode’s most core department, responsible for map data collection and surveying."
Chen Yansen nodded slightly. A quick glance revealed about four hundred people on the entire floor.
"The third floor is the mobile products department, which is mainly responsible for the R&D, upgrades, and optimization of the Gaode app. The fourth floor is the B2B team, whose core business is collaborating with automobile manufacturers on pre-installing navigation systems. There are about 2,000 employees at the headquarters."
"In addition, we have a data production base in Changping District, and we’ve set up marketing and sales centers and navigation engine R&D bases in Hu City and Lu City, respectively."
Cheng Congwu meticulously detailed Gaode’s fixed assets and technology patents.
"President Cheng," Chen Yansen asked, "I heard Gaode has another founder. Why don’t I see him?"
Cheng Congwu froze for a moment, his expression a little unnatural. He quickly composed himself and explained calmly, "Xiao Jun is the former COO of Gaode Map. He left last year but currently serves as a board member and consultant for Gaode. He rarely comes to the company."
’A consultant?’
Chen Yansen found it amusing. The position had been completely debased by the domestic internet industry. Anyone who served as a consultant at some company without any real power was more than likely a high-level executive who had lost an internal power struggle and been forced out.
The titles of board member and consultant were simply the last shreds of dignity Cheng Congwu had left for Xiao Jun.
Chen Yansen just smiled and didn’t press the matter.
After touring the Gaode headquarters, he finally signaled for Cheng Congwu to lead him to the conference room. ƒreewebηoveℓ.com
Hou Jun barely spoke the entire time, seemingly not wanting to steal Cheng Congwu’s thunder.
They entered a spacious and bright conference room, and everyone took their seats.
The conversation returned to the previous night’s topic, and both sides resumed their discussion on the acquisition price.
This time, Chen Yansen didn’t get involved. He left it entirely to Gao Weilin while he chatted idly with Hou Jun, holding his teacup.
Hou Jun, who hadn’t been in the mood to talk, was completely unaware that once Chen Yansen started speaking, he began to feel a strange sense of affinity. His gaze toward Chen Yansen softened, and the more he looked at the young man, the more he liked him.
As they chatted on, Hou Jun unexpectedly found himself revealing his latest project.
This was a project he hadn’t even mentioned to Xiao Jun.
’What’s gotten into me today?’ Hou Jun vaguely felt that something was off, but he couldn’t quite put his finger on what it was.
"Phoenix Ancient City?"
Chen Yansen was slightly surprised. He hadn’t expected that Hou Jun, true to his reputation as a cultured man, had set his sights on a cultural tourism project back in 2012. He had even used 900 million in capital to successfully secure the 50-year operating rights for the eight major scenic spots in Phoenix County.
"Does President Chen think this type of project has market potential?" Hou Jun asked with a smile.
"President Hou has a unique eye. These kinds of cultural tourism projects aren’t something an outsider can just pull off," Chen Yansen said in praise.
This wasn’t just empty flattery. Just imagine an outsider trying to develop tourism in an unfamiliar place. Even if they managed to navigate the initial procedures and paperwork, they’d get skinned in the process.
Chen Yansen knew Chunshen wanted to get into the tourism industry, but he hadn’t said a word. It was because he understood all too well that small ponds often harbor big monsters.
Hou Jun lowered his voice. "President Chen, you flatter me. To be honest, I had to rely on a local agent to get the project off the ground without any major hitches."
Chen Yansen understood. In his eyes, Hou Jun was a smart man who wouldn’t make amateur mistakes, especially when it came to handling relationships. So, he had found a proxy.
After some more conversation, he also figured out the main reason Hou Jun had resigned as CEO of Gaode. The man was simply focusing his energy on the cultural tourism project.
Furthermore, Cheng Congwu was also a core investor in this tourism project.
Chen Yansen sneered inwardly, feeling it was a raw deal for Gaode’s last true founder. ’So what you saw as an internal power struggle was just an act put on by others.’
Two finance experts had managed to kick out Gaode’s operational backbone!
Similar situations were not uncommon in the industry, with examples like Wang Zhidong of Sina, Sun Tongyu of Taobao, and Ni Guangnan of Lenovo.
Xiao Jun wasn’t the first, and he wouldn’t be the last.
By noon, Gao Weilin and Cheng Congwu still hadn’t reached an agreement, so the group had no choice but to head to a nearby restaurant for lunch.
Gao Weilin held the Gaode Map asset valuation report, jointly issued by their finance, legal, marketing, and third-party research departments. Cheng Congwu, in turn, held Gaode’s detailed asset and patent analysis materials, as well as their fully certified Class-A mapping and surveying qualifications, arguing his case vigorously against Gao Weilin. freewёbnoνel.com
After a short break in the afternoon, both sides, having had time to cool down and think, began to work toward their respective price targets.
Cheng Congwu was no longer dead-set on the price of 14 US Dollars per share. Gao Weilin, after getting the nod from Chen Yansen, countered with a new offer of 12.6 US Dollars.
But Cheng Congwu was still not satisfied. He would only concede to a price of 13.6 US Dollars per share.
Seeing that the negotiations were about to break down, Hou Jun intervened at the right moment. "Why don’t we each take a step back? Let’s meet in the middle. How about 13.1 US Dollars?"
"12.8 US Dollars," Chen Yansen said lightly. "If it’s any higher than that, there’s nothing more to discuss. Otherwise, I’d rather just go with Siwei Map."
As soon as he said this, it was as if a countdown timer had been placed on the negotiation. Hou Jun and Cheng Congwu had to either agree or refuse.
The two exchanged a look, a flicker of difficulty in their eyes.
It seemed like a difference of only 0.3 US Dollars per share, but for Hou Jun, that meant 2.8 million US Dollars less in earnings. With that kind of money, you could buy a villa of over 700 square meters on Yanjing’s Second Ring Road.
But under Chen Yansen’s spiritual pressure, Hou Jun had a sinking feeling that if they rejected this offer, the other party might really turn around and contact Siwei Map.
There weren’t many companies in the country with Class-A map surveying qualifications, but Chen Yansen had money. If he really wanted to acquire one, it wouldn’t be that difficult.
「Three minutes later.」
Hou Jun nodded slightly and gave Cheng Congwu a meaningful look.
"President Chen, let’s tentatively agree on a price of 12.8 US Dollars per share. I will initiate the privatization and delisting process as soon as possible. A premium of 1.4 US Dollars per share should be a reasonable explanation for the investors. I don’t foresee any major issues."
Cheng Congwu stood up and shook hands with Chen Yansen, signifying his agreement.
Gaode Map had a total of 54.3 million shares. At 12.8 US Dollars per share, Senlian Capital would have to pay 695 million US Dollars, which converted to about 4.58 billion Hua Yuan.
After this transaction was completed, Senlian Capital would have very little cash left on its books.
However, Chen Yansen wasn’t worried. The monthly gross profits from Pinbei and Orange Technology still brought in at least 3 billion Hua Yuan.
With the preliminary acquisition intent and price confirmed, the next steps would be handed over to Gao Weilin. This would require assembling professional teams of lawyers, accountants, financial analysts, and due diligence experts to further verify the authenticity of Gaode’s cash flow and liability information.
At four in the afternoon, Chen Yansen declined Cheng Congwu’s dinner invitation and had his driver take him to the Xiaomi Headquarters.
Gao Weilin let out a long sigh of relief. He was exhausted!
He had been arguing with Cheng Congwu for a whole day!
’These guys who make it as bosses are all just bursting with energy!’ Gao Weilin grumbled to himself.
Chen Yansen sat in the back of the car, holding his phone. He opened the text messaging app and sent a message to an unknown number.
「Meanwhile.」
The food delivery war between Kuai Pao and Eleme in Hu City was still raging fiercely.
