Tech Giants: Starting from Bankrupt Companies

330: Chapter 330 Spark Power Reaches the Top of A-SharesOn August 1st, the sky over Shanghai Municipality was as blue as if it had been washed.

At 7:00 AM, the Lujiazui Ring Road was already packed with people.

In front of the Shanghai Stock Exchange, a long queue meandered for hundreds of meters, stretching from the entrance to the corner of the street.

Over three hundred reporters held up cameras, more than two hundred fund managers in suits, and global investors who had rushed in from New York, London, Tokyo, and Singapore, blocked the entire sidewalk completely.

Security personnel held hands to form a human wall, beads of sweat on their foreheads glistening in the morning light.

Urgent voices kept coming through the walkie-talkies: ”The pressure at the East Gate is too great, we need reinforcements!” ”The West Gate can’t hold on much longer either!”

At 8:00 AM sharp, the doors to the trading hall slowly opened.

The crowd surged in like a tide.

This was the largest trading hall in the Shanghai Stock Exchange, capable of accommodating five hundred people trading simultaneously.

But the crowd currently pouring in exceeded eight hundred.

The aisles were packed; those in the back could only stand on tiptoe, stretching their necks to stare at the giant electronic screen in front.

Some stood on chairs, some climbed onto windowsills, and others simply gave up struggling and held up their phones to watch the market trends via live stream.

On the big screen, the stock code for Spark Power flickered quietly.

At 9:15 AM, the centralized bidding began.

Everyone held their breath.

The numbers popped up.

150.00 rmb

Fifty percent higher than the issuance price of one hundred rmb.

Someone gasped, the sound clearly audible in the hall.

Someone covered their mouth, their eyes instantly turning red.

Someone took out their phone, hands trembling as they tried to take a picture, nearly dropping the phone.

A middle-aged man in a gray suit roared into his phone: ”150! Opening at 150! Do you see it! 150!”

At 9:20 AM, the centralized bidding ended.

The final price locked in: 160.00 rmb

A burst of exclamations erupted in the trading hall.

The sound was like ocean waves, one after another.

At 9:30 AM sharp.

Market opened.

Buy orders flooded in like a tsunami.

On the screen, the numbers began to jump crazily.

170 rmb. 180 rmb. 190 rmb. 200 rmb.

The traders went crazy.

”Can’t buy in! Absolutely cannot buy in!” a trader wearing a red vest shouted into the phone, his voice already hoarse, ”There are no sell orders! Not a single share!”

Another trader slammed the phone onto the desk and held his head in his hands: ”The client told me to buy at any cost, but I can’t buy any!”

A third trader crouched on the floor, hugging his knees, muttering to himself: ”I’ve been at this for twenty years, and I’ve never seen a scene like this.”

At 9:45 AM, the share price broke through 210 rmb.

At 10:00 AM, it broke through 230 rmb.

Just then, a picture suddenly appeared on the big screen at the front of the hall.

A live feed from the headquarters of Shenzhen Spark Group.

Su Chen appeared on the screen.

The noisy trading hall fell silent instantly.

Over eight hundred people, not a sound.

Everyone stared at the young man wearing a dark gray shirt.

He stood in front of the window, with the scenery of Shenzhen Bay behind him.

The sunlight shone in from outside, gilding him with a layer of golden light.

Su Chen’s voice came through the speakers, calm and powerful:

”The listing of Spark Power is not the finish line, but the starting point. Two trillion is not the ceiling, and five trillion isn’t either. The journey of Xingchen is the sea of stars.”

As soon as he finished speaking, the share price surged again.

240 rmb. 250 rmb. 260 rmb.

Some started clapping.

Some started cheering.

Some had red eyes, quietly wiping away tears.

An old trader, standing in the crowd, muttered: ”I’ve witnessed the listing of ICBC, I’ve witnessed the listing of Ping An, I’ve witnessed the return of Alibaba. But today... today is different.”

The person next to him asked: ”How is it different?”

The old trader shook his head, his voice choked with emotion: ”Today, it is a high-tech enterprise cultivated by us, right here at home, that has ascended the throne.”

At 3:00 PM sharp, the closing bell rang.

The big screen locked in.

Spark Power closing price: 280.00 rmb

Increase: 180 percent.

Market capitalization: 5.6 trillion rmb.

Funds raised: 500 billion rmb.

Subscription multiple: 237 times.

Frozen capital scale: 10.7 trillion rmb.

What kind of number was that?

10.7 trillion, equivalent to Russia’s annual GDP.

Equivalent to three times the frozen funds from the listing of Saudi Aramco.

Equivalent to twice the historical record set during the IPO of the Industrial and Commercial Bank of China.

In the trading hall, applause thundered, lasting for a long time.

Some hugged, some wept, some roared at the sky.

The general manager of the Shanghai Stock Exchange, Huang Hongyuan, stood in the crowd, took off his glasses, and wiped the corners of his eyes.

The person next to him asked: ”General Manager Huang, what’s wrong?”

Sixty-one-year-old Huang Hongyuan shook his head, his voice somewhat choked:

”I’ve been in this business for thirty-one years and have seen countless companies go public. But today... it is witnessing history, it is a business miracle.”

He paused, looking at the 280 rmb locked on the screen:

”This is an enterprise cultivated by the Huaxia people themselves. No foreign capital background, backed by state capital, no special policies. Just a young man, leading a group of young people, who took three and a half years to build a company worth 5.6 trillion.”

He put his glasses back on:

”This is called a miracle.”

Lin Wan pushed the door open and walked into Su Chen’s office, holding a calculation sheet.

Twenty-six-year-old Lin Wan was wearing a dark suit skirt, her short hair looking capable.

Her expression was calm, but her eyes flashed with excitement.

”Manager Su, your net worth has been calculated.”

Su Chen was standing in front of the window, looking at the scenery of Shenzhen Bay.

He did not turn around.

”Read it.”

Lin Wan cleared her throat:

”Spark Power: You hold 60 percent of the shares, with a market value of 3.36 trillion.”

”Xinghuo Electronics: You hold 70 percent of the shares, with a market value of 2.8 trillion.”

”Spark Technology: You hold 70 percent of the shares, with a market value of 3.5 trillion.”

”Other unlisted assets: Xingchen Defense, Xingchen Heavy Industry, Xingchen Aerospace, Spark Materials, the unlisted portion of Xinghuo Chip, with a comprehensive valuation of about 5 trillion.”

She paused.

”Total: Approximately 14.66 trillion rmb.”

Su Chen turned around.

”What about in USD?”

Lin Wan looked at another report:

”At the current exchange rate, about 2.1 trillion USD.”

Su Chen smiled.

The smile was very faint, like an ordinary young man hearing an interesting number.

”2.1 trillion. More than the combined total of Bill Gates, Buffett, and Bezos?”

Lin Wan nodded: ”Just over.”

Su Chen walked to the desk, picked up the cup of tea that had already gone cold, and took a sip.

”Just numbers. I will use this wealth to create more jobs, more high-tech, and change people’s lifestyles. Everyone, stay tuned.”

He put down the tea cup and looked out the window.

”Today is just the beginning.”

The next morning at 10:00 AM, Ningde, Fujian, CATL headquarters.

Zeng Yuqun sat in his office, staring at the computer screen in a daze.

Fifty-five-year-old Zeng Yuqun was the founder of CATL and a veteran of the Huaxia battery industry.

His company was once the global hegemon of power batteries, with a market share of over 50 percent, and clients including BMW, Volkswagen, and Tesla.

That was in the past.

Now, Spark Power’s market share was 82 percent.

CATL only had 8 percent left.

And Spark Power’s market capitalization was 5.6 trillion.

CATL’s market capitalization had fallen from its peak of 200 billion to 140 billion.

He stared at that number, not moving for a long time.

140 billion, not even a fraction of Spark Power.

An assistant pushed the door open and asked cautiously:

”General Manager Zeng, should we make an appointment with Xingchen?”

Zeng Yuqun was silent for three seconds.

In those three seconds, countless thoughts flashed through his mind—the hardships of starting a business, the glory of going public, the high spirits at the peak, and the loneliness now.

He finally spoke:

”Make it. Just say CATL is willing to do OEM for them.”

At 2:00 PM, in the conference room of Spark Power, Zeng Yuqun sat opposite Su Chen.

This office was not big, and the furnishings were simple.

A desk, a set of sofas, and a world map hanging on the wall.

Outside the window, the scenery of Shenzhen Bay was in full view.

Su Chen made tea himself and pushed it to him.

Zeng Yuqun did not touch the cup.

He went straight to the point without small talk:

”Manager Su, CATL is willing to do OEM for Spark Power. Our production capacity, our production lines, our workers, can all serve Xingchen.”

Su Chen looked at him without speaking.

Zeng Yuqun continued:

”We can accept any conditions. Technology licensing, profit sharing, even being acquired. As long as we can let CATL survive.”

His voice carried a kind of helplessness and despair.

Su Chen picked up the teacup, took a sip, and put it down.

”Manager Zeng, Xingchen does not need to acquire CATL.”

Zeng Yuqun’s heart sank.

Su Chen continued:

”But we can cooperate.”

Zeng Yuqun looked up.

Su Chen said:

”You will do OEM for Xinghuo’s low-end batteries, the Divine Travel 3 ternary lithium. Xinghuo is responsible for technology and the market. Profits, 30/70 split. You get 30, Xinghuo gets 70.”

Zeng Yuqun was silent.

A 30/70 split meant that CATL could only get 30 percent of the profits.

But the technology was Spark Power’s, the market was Xinghuo’s, and the brand was Xinghuo’s.

CATL was just an OEM factory.

But if he didn’t accept, he wouldn’t even get this 30 percent.

He picked up the teacup and took a sip.

The tea had already gone cold.

He put down the teacup and nodded.

”Okay.”

August 4th, Silicon Valley.

Apple headquarters is located in Cupertino, a huge circular building known as the ”Spaceship”.

The circular glass curtain wall shines in the sun, the park is shaded by trees, and employees ride bicycles back and forth.

At the board meeting, CEO Tim Cook was speaking.

Fifty-eight-year-old Cook was Apple’s helmsman, having taken over from Jobs eight years ago, bringing Apple’s market value from 300 billion to 1 trillion.

Every decision he made was well-considered and never impulsive.

But today’s decision did not need thinking.

”Xingchen Chain must be connected. Otherwise, our business in Huaxia will be paralyzed.”

A director asked: ”What about the White House?”

Cook shook his head.

”The White House? Can the White House solve our sales channels in Huaxia? Can it solve our supply chain in Huaxia? Can it solve our product certification in Huaxia?”

No one answered.

Cook continued:

”Huawei no longer uses TSMC chips, they all use Xinghuo Chip now. If Xingchen Chain refuses us again, Apple’s supply chain in Huaxia will really be finished.”

The board voted.

Passed unanimously.

Intel headquarters.

CEO Pat Gelsinger was meeting with the legal team.

”Will connecting to Xingchen Chain violate sanctions?”

The legal director shook his head: ”Sanctions prohibit US companies from conducting USD transactions with Xingchen. But Xingchen Chain uses rmb, Euro, Ruble, it does not involve USD. Legally speaking, it is not a violation.”

Gelsinger nodded.

”Then connect.”

Nvidia, Google, Amazon, Microsoft—the tech giants of Silicon Valley were also acting in secret.