Tech Giants: Starting from Bankrupt Companies

2: Chapter 2: A Spark in Desperate CircumstancesSpark Technology’s large conference room, which once held hundreds, now appeared empty and desolate.

Thirty-five people—this was all that remained of the ”sparks” of an A-share listed company. They sat in their seats, their faces a mixture of confusion, anxiety, and a faint, imperceptible numbness. The company’s consecutive losses, delisting warnings, the poaching of its core team, and the withdrawal of investors... a series of bad news had long since worn their confidence down to nothing. Many stayed not out of great loyalty, but perhaps because they hadn’t found a suitable next job yet, or because they still held onto a shred of unrealistic hope for this once-brilliant company.

Su Chen stood on the podium, his gaze slowly sweeping across every face below. He could feel the low pressure, like the stifling gloom before a storm. Lin Wan stood quietly slightly behind him, holding a tablet, her expression tense.

”Everyone,” Su Chen began, his voice carrying through the microphone across the conference room, without passionate rhetoric or dejection, but with an unusual calmness. ”I know the company’s recent situation is very bad—so bad that many of you might already feel that the ship of Spark is going to sink at any second.”

The audience was silent; no one refuted him, which was a tacit admission in itself.

”People outside are laughing at us, competitors are waiting for us to fall, and the creditors and shareholders downstairs are calling us liars and useless trash.” Su Chen’s tone remained steady, but his words struck everyone’s heart like a hammer. ”What I want to say is, they might be right. The Spark of the past has indeed reached a dead end.”

These words caused some employees to look up, their eyes filled with bewilderment. Was the new president admitting failure so directly?

”However,” Su Chen’s tone suddenly shifted, his eyes becoming sharp. ”From today onwards, Spark will take a new path. We have no time for depression and no right to complain. I didn’t call you here today to give you empty promises or talk about idle ideals.”

He gestured to Lin Wan. Lin Wan immediately stepped forward and connected the tablet to the projector. The next moment, an extremely complex and exquisite three-dimensional design appeared on the giant screen—a quadcopter drone with sleek lines and a sophisticated structure.

”What is this?” someone whispered below.

”This is Spark Technology’s first product for its rebirth from the ashes,” Su Chen picked up a laser pointer, the red dot landing on the core component of the design. ”I have named it—the ’xinghuo no. 1’ drone.”

Without any preamble, he dove straight into the technical explanation.

”The flight control system uses a brand-new adaptive algorithm we developed independently. It can maintain a stable hover in Level 6 winds, with an estimated 99.9% success rate for return-to-home upon loss of signal.”

”The gimbal features three-axis mechanical stabilization, combined with our unique vibration-damping materials and image compensation technology, ensuring that footage remains silky smooth even during high-speed movement.”

”The image transmission system has a theoretical effective range of 5 kilometers, 720P high-definition quality, and latency under 100 milliseconds.”

One performance parameter after another came from Su Chen’s mouth, calm yet full of power. At first, there was silence below, but then uncontrollable whispers began to break out. These parameters were not inferior at all to mainstream high-end products currently on the market, such as Lingyun Technology’s Phantom series, and even surpassed them in stability and transmission range!

How was this possible? When did Spark Technology acquire such deep technical reserves?

However, what shocked them even more was yet to come.

Su Chen switched the PPT, and a clear Bill of Materials (BOM) cost comparison table appeared on the screen.

”Based on our brand-new design, self-developed core components, and optimized supply chain,” Su Chen’s laser pointer hit the striking red number at the bottom of the table, ”the comprehensive production cost of ’xinghuo no. 1’ is expected to be controlled at... about twenty percent of mainstream products with equivalent performance on the market!”

”Twenty percent?!”

”The cost is only twenty percent of others?!”

”This... this is impossible!”

The audience instantly erupted. Performance parity or even a slight lead, but at one-fifth the cost? What did this mean? It meant they could set an extremely competitive price, it meant they had huge profit margins, and it meant they could launch a ’price butcher’ style assault on the market!

The only remaining gray-haired senior engineer in the technical department, Wang Ming, suddenly stood up from his seat. He wore thick glasses, and his body trembled slightly with excitement as he pointed at the screen, his voice hoarse: ”President Su! Is... is this data real? The flight control algorithm, gimbal structure, image transmission module... have we really mastered these core technologies?”

Wang Ming had been with the company for over a decade and was a veteran who had seen Spark’s ups and downs. His technical skills were solid, and he was a steady person. Because of this, he knew better than anyone how difficult it was to achieve the technical indicators and cost control Su Chen mentioned! This was simply revolutionary!

Su Chen looked at Wang Ming with an affirming gaze: ”Engineer Wang, I know this is hard to believe. Later, I will hand over some non-core technical materials to the technical team you lead for preliminary verification. Whether it’s a mule or a horse, we’ll know once we take it out for a walk.”

He didn’t explain the source of the technology too much; now was not the time. Letting facts speak for themselves was the most powerful method.

The meeting ended in an atmosphere of extreme shock and skepticism. The employees left the conference room with hearts full of questions and a small spark of hope that had been ignited. In any case, what the new president had presented at least didn’t seem like nonsense.

Over the next few days, Wang Ming and the few remaining technical backbones practically lived in the lab. When they received the partial technical materials (mainly structural drawings and some peripheral algorithms) passed on by Su Chen through Lin Wan, everyone went into a frenzy.

”Perfect! This transmission structure design is simply perfect! Friction is reduced by at least 30%!” a young engineer exclaimed.

”And this image compensation algorithm... a stroke of genius! It cleverly avoids the difficulty of high computational requirements, using simpler logic to achieve better results!” another software engineer’s eyes lit up as he stared at the screen.

Wang Ming watched the structural stress simulations and algorithmic logic deductions running on the computer over and over again. Finally, he took off his glasses, rubbed his aching eyes, let out a long breath, and said to the team members gathered around him: ”Although we’ve only seen a part of it... this set of technology is feasible, and it is very mature and advanced. President Su... he didn’t lie to us.”

Hope, like a single spark, finally began to truly burn in the hearts of this remnant technical team.

With the technical issues initially resolved, another more realistic and urgent problem stood before Su Chen—money.

The 480,000 on the company’s books wasn’t even enough to customize the simplest production line, let alone purchase raw materials or pay supplier advances. The system’s ”Sales Cashback” function was certainly attractive, but that would only happen after the products were sold; distant water couldn’t put out a nearby fire.

He had to raise capital!

Su Chen looked out the window, his gaze resolute. He made a bold decision.

...

Dingfeng Capital, reception room.

Su Chen sat alone on the sofa. Opposite him was the founder and CEO of Dingfeng Capital, Zhao Feng. He was a middle-aged man of about forty, wearing a casual suit, with eyes as sharp as an eagle’s and a habitual, faint smile on his lips, giving off a shrewd and aggressive impression. He was a famous ”gambler” in the investment circle, with a keen eye and the courage to bet on high-risk, high-reward projects.

”President Su, it’s a pleasure to finally meet you.” Zhao Feng smiled, his tone relaxed, but his eyes scrutinized Su Chen without hesitation. ”To be honest, I was surprised to receive your appointment. Spark Technology’s situation is well known to everyone in the circle. I’m curious, what makes you think that we at Dingfeng would invest in a... well, an ST company on the verge of delisting?”

Su Chen didn’t beat around the bush and pushed a condensed version of the ”xinghuo no. 1” project plan over, while simultaneously opening his laptop.

”CEO Zhao, Spark’s past cannot be changed, but its future can. I’m not here to beg for investment, but to give Dingfeng an opportunity—an opportunity to participate in and share in a revolution in the field of technology consumer goods.”

”Oh? A revolution?” Zhao Feng raised an eyebrow noncommittally, casually flipping through the plan. When he saw the performance parameters and that glaring ”20% cost,” his brow furrowed slightly, but he didn’t immediately question it.

”Words alone are not proof,” Su Chen turned the computer screen toward Zhao Feng, showing a 3D simulation demo for the drone. ”CEO Zhao can see for himself.”

He started the program. On the screen, the exquisite ”xinghuo no. 1” model took off, circled, performed high-speed maneuvers, and intelligently followed a target in a complex virtual environment. The footage was stable and smooth, with various real-time data clearly displayed alongside. At the same time, Su Chen pulled up the detailed BOM table, showing Zhao Feng the estimated cost of every core component.

The relaxed look on Zhao Feng’s face gradually vanished. He leaned forward, looking very carefully, his fingers occasionally tapping on the plan. As a veteran who had invested in multiple hardware projects, he naturally recognized the weight of this demo and the BOM table. If all of this was true, then this product indeed had the potential to disrupt the market.

”The source of the technology?” Zhao Feng looked up, his gaze piercing as he stared at Su Chen.

”It’s a core company secret. I can only say it’s a breakthrough achieved by integrating our remaining R&D strength under extreme pressure.” Su Chen remained unfazed; the system was his biggest trump card and must never be exposed.

Zhao Feng fell silent for a moment, his fingers tapping rhythmically on the table. Only the slight sound of the computer fan running the simulation remained in the conference room.

”It’s very tempting,” Zhao Feng finally spoke again, ”but the risks are equally massive. Can the technology really be mass-produced? Will the market accept it? What about the counterattacks from competitors? Most importantly, Spark has no time left.”

”That’s why we need capital, and we need speed.” Su Chen met his gaze. ”I can use all the Spark Technology equity in my name (currently ST Spark has a total share capital of 1 billion shares, the stock price is 1 yuan, the market value is 1 billion, and I hold 80%, worth 800 million) as well as the ownership of this ’xinghuo no. 1’ drone technology as collateral for this financing.”

A flash of surprise crossed Zhao Feng’s eyes. He hadn’t expected Su Chen to dare to bet his entire net worth. He pondered for a long time before slowly saying, ”Fifty million. Dingfeng can invest fifty million.”

Su Chen’s heart skipped a beat; this figure exceeded his expectations.

”However,” Zhao Feng’s tone shifted, revealing his nature as a ”gambler.” ”There are conditions. This is a valuation adjustment mechanism agreement. This money will count as an angel investment. If Spark Technology can achieve a positive net profit in its financial report and successfully remove its ’ST’ designation by December 31, 2015, then I only want 5% of Spark Technology’s equity.”

”What if... it fails?” Su Chen asked calmly.

”If it fails,” Zhao Feng leaned forward, his tone carrying unquestionable pressure, ”Dingfeng will obtain... 25% of Spark Technology’s equity.”

The terms were extremely harsh! Failure would mean Su Chen’s controlling stake would be significantly diluted, Zhao Feng would likely become the company’s second-largest shareholder, and Su Chen might even lose control of the company.

The air in the conference room seemed to freeze.

Su Chen looked at Zhao Feng, and Zhao Feng looked back. It was a psychological battle.

Su Chen knew he didn’t have many options. Other investment institutions probably wouldn’t even let him through the door. Zhao Feng was the only one who might, and dared to, place a bet at this time. And the target of the agreement happened to align with the system’s mission!

”Deal.” Su Chen reached out his hand without much hesitation. ”It’s a deal.”

Zhao Feng was stunned for a moment, not expecting Su Chen to agree so readily, but then he also smiled and shook Su Chen’s hand firmly. ”President Su, you have guts! I hope we have a pleasant cooperation.”

...

The funds, like a long-awaited rain after a drought, quickly flowed into Spark Technology’s nearly exhausted accounts. This part of the funds came from Su Chen selling his own shares to obtain 50 million, which he then lent to Spark Technology for use, as Spark was a listed company and there were still 20% of shares circulating in the market.

Su Chen acted with lightning speed, immediately signing documents upon returning to the company to officially establish the ”Spark Drone Project Team.” He personally served as the overall project leader, controlling the general situation and technical direction; Wang Ming was appointed as the Technical Director, fully responsible for technical verification, prototype trial production, and production line construction; Lin Wan served as the project coordinator, responsible for internal resource allocation, preliminary supply chain communication, and logistical support.

The long-silent Spark Technology was like a rusted machine injected with new fuel and commands, beginning to emit a long-lost roar. The company’s broken ship, under Su Chen’s forceful control, turned its bow with difficulty but determination, sailing toward that vast blue ocean full of unknowns and opportunities.

Wang Ming and the technical team worked day and night to start turning blueprints into physical objects; Lin Wan began to contact old supplier channels and look for new partners who met the cost control requirements according to the list provided by Su Chen.

Everyone knew this was a race against time, a war that could only be won and not lost.

Whether the glimmer of the spark could start a prairie fire—everything had only just begun.