YM778.TV Chapter 969 - Li Mingde’s retaliation
Chapter 969 – Li Mingde’s retaliation
The negotiations for this cooperation ended very fast. After all, both parties had many partnerships before and were eager to cooperate. They only have some differences on some minor details of the contract.
The City Government was also pressuring Li Mingde to complete this negotiation before Lunar New Year, as they want to show some results to their higher-ups. They even used their connections to get CCTV to telecast the contract signing in Bing City!
Kirilenko also wants to start the cooperation earlier. The earlier they sign the contract, the earlier they can begin production.
Both sides want to sign the contract earlier, and the negotiation went on smoothly.
Bing City Machinery Company will use Oriental Deer and all related technologies to exchange for shares in this partnership, and Polar Bear Automobile will get authorization to use the Oriental Deer brand and logo. Songjiang Olympic and its related technologies will be included in this partnership. But in Russia, it will be renamed as China Star, but the logo will remain the same.
Polar Bear Automobile does not want other models. Still, in their contract, there is a clause that states that Polar Bear Automobile will get the authorization to produce those models if they fulfill some requirements.
Other than these two models, Kirilenko is not interested in the other models, unless Bing City Machinery Company introduces better models. They are not stupid and are preparing to learn these technologies to develop their models in the future.
The Polar Bear Automobile’s market value is estimated to be slightly above 300 million USD, and most of their production lines are new. They have four production lines, and their annual production is above 30,000 units. Kirilenko is an ambitious man. If he managed to sell all these cars, he would become the biggest automobile manufacturer in all former Soviet Union countries. No manufacturer in the former Soviet Union countries’ automobile industry produces more than 10,000 cars annually.
Bing City Machinery Company valued these two models and their related technologies as 160 million USD. It paid an additional 140 million USD for 49% of the shares.
The Polar Bear Automobile had wanted Songjiang’s high-end car, Rongyao, technologies and is willing to value it at 400 million USD. But Li Mingde refused.
Songjiang Rongyao is the newest model with the most advanced technologies introduced last year. Which company is willing to sell their best technologies to other companies?
Nevertheless, the negotiation went on smoothly, and both sides got what they wanted.
……
“Today, Bing City Machinery Company will be signing a partnership contract with Polar Bear Automobile. I represent…” Zhang Ruiqiang stood in front of the reporters proudly.
Li Mingde was standing beside Zhang Ruiqiang and looked ten years younger. He couldn’t stop smiling, especially when he looked at the rest of the General Managers from other automobile companies!
The Ministry for Industry had sent out invitations to high-rank government officials and other automobile manufacturers to attend the contract signing ceremony.
Li Mingde even called SAIC himself to invite them. Although he speaks nicely, every word stabbed Manager Niu’s heart.
At first, Li Mingde told Manager Niu that Songjiang Motors would be lowering their exportation this year, and the latter was laughing at him in his heart. What’s wrong? I thought your cars are very popular? Is no one interested in them now?
You all want to export to Europe and the western countries? Their automobile industries are more advanced than China by several years. The Bing City Machinery Company must have been reporting false figures on their export profits, and have been found out.
Manager Niu pretended to console Li Mingde, telling him not to be discouraged. Not exporting your cars will only result in lower profits. You all can concentrate on building motorcycles instead.
Li Mingde immediately retorted. “When did I say that our profits from cars will be lowered? Although we are not exporting to East Europe, we will be going into a joint venture and set up a factory in Moscow. It will be a huge automobile factory and will be using the most advanced equipment.”
Manager Niu was stunned. Bing City Machinery Company will be setting up a factory overseas?
Li Mingde added that Bing City Machinery Company would be using technologies and brands to invest in this joint venture factory. They had only used around 100 million RMB for this venture.
Manager Niu was more surprised. Using technologies to enter this venture? Bing City Machinery Company will be using its technology to enter a joint venture with a Russian automobile company? We are talking about Russia. Russia had inherited most of the Soviet Union’s assets and technologies. It is one of the top industrial countries in the world. Why would they agree to let Bing City Machinery Company use their technologies for this venture?
But no one knows that Russia’s automobile industry had been stagnant for years. They might be good in trucks, but for cars, they are below the global average.
After that, Li Mingde told Manager Niu that he wants to invite him for the contract signing ceremony. He added that the General Managers from other manufacturers and government leaders would be attending too. He purposely told Manager Niu to arrive one day earlier, as he wants to bring Manager Niu for a tour in Bing City Machinery Company.
Manager Niu does not feel like going, but his higher-ups ordered that all major automobile manufacturers’ General Managers must attend this ceremony to learn from Bing City Machinery Company.
Manager Niu looks at the proud Li Mingde on the stage, and he feels like killing him!
Both parties will be signing the contract on the stage, and Li Mingde still purposely put up the flags of both countries behind them. It looks like two countries signing a treaty and bring up the status of this venture.
The leaders on the stage did not object to the flags. After all, Bing City Machinery Company had made China proud. They will be first China’s automobile manufacturers to use their technologies to enter into a venture with an overseas company! This is an honor!
Li Mingdde started his speech and thanked the Provincial and City Governments’ leaders, etc.
If Li Mingde had not retired, he would definitely be promoted by the government.
Manager Niu noticed the expression on Li Mingde seems to be mocking him and will look at him occasionally.
“Eh, Old Niu, don’t leave first. Let’s take a picture together. Come… Stand beside me!”
During their last meeting, Manager Niu is the one standing beside the leaders, and this time, he had to stand in a corner! This is too humiliating!
But Manager Niu dares not to say anything. There are too many high ranking leaders there, and Li Mingde is still the host. There is nothing he can do anyway.
This is Li Mingde’s revenge. Just because Li Mingde is not arranged to stand in the center during their last meeting, he made me stand in the corner now!
“Old Niu, what are you thinking? Hurry up. Don’t let the leaders wait.” Li Mingde shouted!
Manager Niu cursed in his heart. The leaders are not in their positions yet, and you are speaking as if they are waiting for me. You are too evil!
“Ok… Ok…” Manager Niu ran over and in the position arranged by Li Mingde.
During the photo taking, the photographer told everyone to smile, and Manager Niu forced himself to smile.
Feng Yu stood by the side and waved his hand when they asked him to take photos together, as he does not like to be in the limelight.
Feng Yu only joined the rest of Bing City Machinery Company’s leaders for photo takings. He stood in the center, and the rest of the automobile manufacturers’ General Managers wondered who that person is. Why does it seem that his status is higher than Li Mingde and that Hong Kong businessman?
After a while, Feng Yu went up to the CCTV reporters to speak to them. Zhang Ruiqiang was feeling frustrated. He was the one who invited those reporters, but are they closer to Feng Yu instead?
The only ones in CCTV who does not know who Feng Yu is, are only the new joiners. All the older staff knows Manager Feng is good friends with their Station Chief!
CCTV’s main advertisement income is also from Feng Yu’s companies, and Feng Yu has the habit of giving reporters red packets.
“Everyone doesn’t leave first. We have prepared dinner at our company’s cafeteria. Old Niu, you are seated at table 4.”
Manager Niu is numbed. Whenever there is lunch or dinner with the rest of the industry’s General Managers, he is also seated at Table 1. But this time, he is arranged to be seated at Table 4.
Li Mingde! Please stop talking to me!