Tech Giants: Starting from Bankrupt Companies

367: Chapter 367 Global Investors ConferenceOn February 18th, as the morning mist just began to dissipate, Shenzhen was covered in a slight haze.

A long queue had already formed at the entrance of the largest exhibition hall of the Shenzhen International Convention and Exhibition Center. These people were dressed in custom suits, pulling suitcases, and speaking in various accents—English, Japanese, German, and French. They hailed from over fifty countries and regions, representing the world’s top investment institutions.

BlackRock, Blackstone, Vanguard, State Street Global, JPMorgan Chase, Goldman Sachs, Temasek, Saudi Public Investment Fund, Norges Bank, Japan’s Government Pension Investment Fund... every name was a household name in the global capital markets.

Xiao Li, a twenty-five-year-old security guard maintaining order at the entrance, was a Shenzhen local who had worked at the exhibition center for three years. He had seen countless grand scenes, but today’s lineup still left him stunned.

He said to his colleague beside him, ”Brother, I usually only see these people on financial news. Blackstone’s Schwarzman, BlackRock’s Fink, Goldman Sachs’ Solomon—they’re all over there waiting in line.”

His colleague laughed. ”Today you’re seeing them in the flesh. And these big shots are actually queuing to get in. You live long enough, you see everything.”

Xiao Li swallowed hard. ”I heard the money they manage adds up to fifty trillion US dollars. Global GDP is only eighty trillion.”

The colleague patted his shoulder. ”Just keep a good watch on the door. If these people lose a single hair, the global stock market will tremble three times.”

9:00 AM, Main Hall. All three thousand seats were filled. Hundreds more stood in the aisles, and the camera stands at the back were crowded with videographers. Four giant screens displayed the logos of the four companies under the Spark system—Spark Materials, Xinghuo Chip, Spark Power, and Spark Consumer Electronics.

The lights dimmed.

A spotlight hit the center of the stage.

Su Chen walked onto the stage. Behind him, the four giant screens lit up simultaneously, displaying the Spark emblem. He stood still, his gaze sweeping over the audience.

”Everyone, welcome to Shenzhen.”

He paused. ”The institutions present today manage a total asset volume exceeding fifty trillion US dollars. That is equivalent to half of the global GDP.”

A ripple of knowing laughter broke out in the audience.

Su Chen continued, ”You are here because you believe in Spark. And what I want to say is—Spark’s shareholders are the people who believe in technology most in the world.”

Applause rang out.

The next to report on stage was Wu Yi, the President of Spark Materials. Forty-five-year-old Wu Yi, wearing a dark gray suit, stood in the center of the stage with data from Spark Materials displayed on the large screen behind him.

”In 2019, Spark Materials had a revenue of four hundred billion rmb and a net profit of one hundred and twenty billion. Over the next five years, we will invest one hundred billion in R&D to become the world’s number one materials company.”

A low murmur of amazement rose from the audience.

”Our ceramic matrix composites are already being used by Airbus and Boeing. Our third-generation high-strength steel is already used in automobiles and construction. Our graphene materials have already entered mass production.”

He paused. ”Materials are the grain of industry. Spark Materials aims to be the granary of global industry.”

The second on stage was Li Wanqing, President of Xinghuo Chip. Today, Li Wanqing wore a white suit, looking capable and elegant. Behind her were the production capacity figures for Xinghuo Chip.

”In 2019, Xinghuo Chip had a revenue of six hundred billion and a net profit of one hundred and fifty billion. Seven-nanometer chips are in mass production, and three-nanometer chips will undergo tape-out next year.”

In the audience, the representatives from Intel and TSMC looked uneasy.

Li Wanqing continued, ”Our seven-nanometer chips perform 20% better than our peers, use 25% less power, and cost 30% less. This is why eighty chip design companies worldwide are using Spark’s production capacity.”

She smiled. ”Some say we have a monopoly. I say, a monopoly exists because others cannot produce it.”

The third on stage was Gu Yanting, President of Spark Power. He was now the CEO of both Spark Power and Xingchen Motors, managing two Fortune Global 500 companies single-handedly. This was a testament to his formidable ability; under his leadership, these two enterprises had grown incredibly fast over the past two years.

”In 2019, Spark Power had a revenue of eight hundred billion and a net profit of two hundred and forty billion. Our global power battery market share is 85%.”

Someone in the audience gasped.

Gu Yanting continued, ”Our semi-solid-state batteries, with an energy density of 380 Wh/kg, are already used in Red Flag, BMW, and Volkswagen. Our solid-state batteries have reached 500 Wh/kg in the lab and will be mass-produced next year.”

He paused. ”Some say electric vehicles are the future. I say, the future is already here. Moreover, Spark’s batteries will create the future and rewrite the landscape of the global automotive industry. Once solid-state batteries are mass-produced, the world energy market will be reshuffled.”

The fourth on stage was Zhang Yang, President of Spark Consumer Electronics. Zhang Yang wore a black T-shirt, a style completely different from the suits of the previous speakers.

”In 2019, Spark Consumer Electronics had a revenue of one trillion and a net profit of two hundred billion. We are second globally, only to Apple.”

Thunderous applause erupted from the audience.

Zhang Yang continued, ”Our Huaxing Mobile Phone ranks second in global sales. Our Xingtong VR Glasses made the Apple Vision Pro look like a joke. Our drones sell well all over the world.”

He smiled. ”In consumer electronics, Apple used to have the final say. Now, Spark is also an industry pioneer.”

After the four companies finished their reports, Su Chen returned to the stage.

A number appeared on the large screen: ¥4,000,000,000,000

”In 2020, the revenue target for the four companies of the Spark system is four trillion rmb.”

Someone in the audience took a sharp breath.

The screen switched: ¥300,000,000,000

”R&D investment—three hundred billion.”

The audience was pin-drop silent.

Su Chen concluded, ”These numbers are not for showing off. They are to tell you—the money you invest is used by us for R&D, for innovation, and to build the future.”

The applause was thunderous and did not stop for a long time.

4:00 PM, a private meeting room. There were only twenty people: Su Chen, the CEOs of the four companies, and the heads of fifteen top global investment institutions. The room wasn’t large, but every person’s name could make the global capital markets shake.

Blackstone CEO Stephen Schwarzman walked up to Su Chen with a glass of red wine. At seventy-three, Schwarzman was the king of global private equity, overseeing eight hundred billion dollars in assets.

”Mr. Su, Blackstone has been investing in Spark since 2018. To date, the return on investment exceeds 300%.”

Su Chen nodded. ”Mr. Schwarzman, thank you for your trust.”

Schwarzman smiled, a smile carrying the unique shrewdness of a businessman. ”It’s not trust; it’s faith. The more Spark stock, the better. Blackstone’s clients are all asking if they can buy more.”

BlackRock CEO Larry Fink also walked over. Sixty-seven-year-old Fink was the head of the world’s largest asset management company, managing eight trillion dollars in assets.

”Mr. Su, BlackRock plans to increase its holding in the Spark system from 3% to 10%.”

Su Chen looked at him with a hint of playfulness in his eyes. ”Larry, 10% is two trillion. Does BlackRock have that much money?”

Fink laughed with the confidence of a Wall Street titan. ”We have eight trillion dollars in assets under management. Two trillion rmb? If we squeeze a bit, we’ll find it.”

Goldman Sachs CEO David Solomon leaned in. ”Mr. Su, Goldman Sachs wants to underwrite the IPO financing for Xingchen Motors. You name the terms.”

Su Chen looked at him. ”Mr. Solomon, Xingchen Motors will go public in the second half of the year. We still need to conduct asset integration; at that time, Xingchen Motors will acquire Red Flag, and the equity of joint venture car companies in Saudi Arabia, Malaysia, and Russia will also be merged into Xingchen Motors. But if Goldman Sachs wants to participate, we can talk.”

7:00 PM, Banquet.

In the massive banquet hall, over three hundred representatives from top global investment institutions sat around circular tables. Crystal chandeliers reflected brilliant light, and the champagne tower sparkled under the illumination.

Su Chen stood on the stage, raising a glass. ”Everyone, thank you for coming to Spark today.”

He paused. ”Spark’s journey is still long. Four trillion is just the beginning. In the next ten years, we aim for a revenue of ten trillion.”

The applause from the audience was like thunder.

Su Chen said finally, ”You invest in Spark because you believe in our technology. And I guarantee you—Spark will not let your trust down.”

10:00 PM, Global Media.

CNBC Headline: ’Spark—The Common Faith of Global Capital’

The article stated:

”Today, three thousand top global investment institutions gathered in Shenzhen to attend the investor conference for the four companies of the Spark system. These institutions manage a total asset volume exceeding fifty trillion US dollars, equivalent to half of the global GDP. This is an unprecedented event and the highest recognition of Spark’s technological strength.”

Bloomberg News: ’Spark Sets Four Trillion Revenue Target, R&D Investment at Three Hundred Billion’

The Wall Street Journal: ’From Follower to Definer: How Spark Conquered Global Capital’

After the banquet ended, Su Chen returned to his villa to rest. Lin Wan pushed the door open and entered. ”A-Chen, today’s data is out. All three thousand institutions are willing to increase their holdings in Spark’s subsidiary companies. Blackstone wants to add more, BlackRock wants to raise its share to 10%, and Goldman Sachs wants to underwrite. The global media has gone crazy.”

Su Chen did not look back. ”As expected.”

Lin Wan asked, ”What’s next?”

Su Chen turned around. ”Let them invest. Spark needs money. Core technology remains at the Xingchen Academy of Sciences. I need to tie capital to our chariot and use their resources to build Xingchen’s space base, space station, lunar outposts, and Mars colonization. All of these require funding. With the support of these people, Xingchen can go further.”

The next five years will be the critical moment for Xingchen to move toward space.