Chapter 57

The video froze, and the will playback came to an end.

The conference room fell unusually quiet, and it remained so until Shao Hedong spoke up, asking, “What does ‘shares cannot be transferred or pledged’ mean?”

“This is a safeguard measure,” Attorney Zhong explained. “Mr. Shao placed the shares in an overseas trust, effectively insuring them. Even if a Shao family member faces personal financial issues and wants to sell their shares, it would be impossible. This ensures that the shares will always remain in the hands of the Shao family.”

Shao Hedong followed up with another question, his tone icy as he glanced at Song Qiming, “So, if I already have the shares and trigger the second condition, will my shares still be transferred?”

“As I mentioned earlier, this portion of the shares is stored in the trust and will not actually be physically transferred to any of you. You will only have the rights to receive dividends and voting rights. Therefore, if the second condition is triggered, these rights will belong to Mr. Song Qiming, and there won’t be any transfer of shares.”

Hearing this, Lin Yushu couldn’t help but sigh again. Shao Zhenbang went to great lengths to protect their family’s legacy.

Although it seemed like the shares were distributed to the children, they couldn’t be transferred to others, ensuring that the Shao family’s legacy would never fall into outsiders’ hands.

“All the specific clauses are written in the physical version of the will, and I will send them to your respective emails later,” Attorney Zhong continued. “But the most important points were in the video just now. If you have any further questions, feel free to ask me.”

The Shao family members looked at each other, and occasionally, their gazes turned to Lin Yushu sitting by the wall.

It seemed they didn’t want to ask any questions about the will; instead, they were more interested in Lin Yushu’s stance.

“Shall we leave?” Song Qiming asked in a low voice.

“Yeah,” Lin Yushu nodded gently.

Staying there any longer would be pointless; they would only be surrounded by the Shao family members.

After they closed the car doors of the Honda Civic, the world finally quieted down.

Lin Yushu reclined his seat, detaching himself from the tense atmosphere a moment ago, and continued to digest Shao Zhenbang’s will.

Song Qiming’s phone kept ringing incessantly with calls from his mother and Shao Hexu. He ignored them all, eventually deciding to turn off his phone.

“What do you think?” he put his phone away and asked Lin Yushu.

Lin Yushu adjusted his seat slightly and raised his head to meet Song Qiming’s gaze. “I should be asking you the same question.”

“He’s forcing me,” Song Qiming sighed. “Either I acquire Xunjie Tram or I leave and go back to Germany.”

He added, “And he’s even implicating my S-power in this.”

“Yeah, he’s forcing me too,” Lin Yushu said, reclining back on the seat again and absentmindedly gazing at the car’s roof. “Either I help you, or we break up.”

Indeed, old master was indeed an experienced schemer.

Recalling the past, Lin Yushu even felt a little scared. By removing Shao Guangjie from the CEO position, he had offended Shao Zhenbang. If the old man still had the energy, he might take action against their family’s company.

Nevertheless, Lin Yushu retaliated.

He forced both Song Qiming and himself into a dilemma, with one side being personal interests and the other being their relationship.

“I don’t like this,” Song Qiming frowned. “Being forced to do something.”

“Neither do I,” Lin Yushu paused, then stated his thoughts first. “That’s why I won’t help you.”

Song Qiming’s gaze remained forward, his brain seemed to be spinning rapidly.

Lin Yushu was afraid that Song Qiming would misunderstand, so he explained, “Xunjie Tram is a publicly listed company. It’s not just my brother’s property; it’s not even mine.”

“I know,” Song Qiming said, “and you don’t want Xunjie Tram to change its name.”

Entrepreneurs can generally be divided into two types:

The first type aims to expand and strengthen their companies, carrying on their family’s legacy.

The second type sells their companies at the right time, cashing out and leaving.

Initially, most people hope to become the first type of entrepreneur. However, in today’s capital markets, choosing the second option is often the wiser choice.

This is because developing a company involves many risks, and one wrong move could lead to complete financial ruin.

On the other hand, selling a company at the right time allows the founder to retire early and still live a prosperous life through investment returns.

For example, no matter how much Song Qiming’s S-power develops, it is unlikely to become a company as significant as Volkswagen Group.

Therefore, being acquired by Yong Xing would be a good option for S-power.

Regarding Song Qiming’s decision not to retire and continue working, that is his personal choice.

But…

You’re right. S-power’s situation doesn’t apply to Xunjie Tram.

Currently, Xunjie Tram has grown significantly, and Lin Yuzhe also has the potential to become the first type of entrepreneur. It’s highly unlikely that Xunjie Tram will be easily acquired by Yong Xing.

“So, what’s your plan now?” Lin Yushu asked Song Qiming.

“I’m having a headache,” Song Qiming rubbed his messy hair at the back of his head. “Shao Hexu just told me on the phone that if I choose to acquire Xunjie Tram, he’ll withdraw the concerted action agreement.”

“He doesn’t want you to acquire it,” Lin Yushu said.

Indeed, it made sense. If Song Qiming took all the shares, Shao Hexu would only receive some real estate and funds, which he wouldn’t be happy about.

“He’s cutting off my retreat,” Song Qiming said. “The acquisition process is lengthy, and no one can guarantee success. If he doesn’t withdraw the agreement, even if the acquisition fails, I can still compete with Shao Hedong to see who holds more shares. But once he withdraws, whether the acquisition is successful or not, I’ll have to accept the outcome.”

“Yeah, he’s warning you not to attempt it blindly.”

Lin Yushu’s thoughts were gradually becoming clearer. Acquiring Xunjie Tram not only presented great difficulties but also made them many enemies, even potentially putting a strain on their relationship.

For now, it seemed more prudent to focus on accumulating shares.

“He also mentioned,” Song Qiming continued, “that Shao Hedong has already decided to hold a shareholders’ meeting to thoroughly restructure the company.”

Lin Yushu wasn’t surprised by this. However, he asked, “Does Shao Hedong have more than 50% of the shares?”

When they announced the will, he roughly estimated that Shao Hedong definitely had over 40% of the shares.

“I’m not sure,” Song Qiming replied. “Even if he doesn’t, the shareholders’ meeting requires a 15-day notice. Excluding the Spring Festival, he still has a week to repurchase shares from the secondary market.”

“We can also…” Lin Yushu’s voice gradually trailed off because they didn’t have the funds.

He had some savings, but it was a drop in the ocean when it came to acquiring Yong Xing’s shares.

As for Song Qiming, it was even more impossible. He owed several billion US dollars in foreign debt, and the shares he held were practically unmovable.

“Wait a minute,” Lin Yushu suddenly thought of something and looked at Song Qiming, asking, “How many of Yong Xing’s shares did you buy at rock bottom?”

Lin Yushu seemed to be a busy bee, having worked tirelessly for a whole year. Even during the New Year holidays, he couldn’t rest properly.

He spent time greeting friends in the banking industry and hosting dinners for investment company bosses.

Although he was good at socializing, after several days of non-stop engagements, he was exhausted.

The time had now come to the seventh day of the first lunar month, which marked Shao Zhenbang’s seventh day of passing away.

After a simple ceremony, Song Qiming sent his parents off to the airport. When he returned home, it was already past noon, and Lin Yushu was still lying lazily in bed.

“Aren’t you hungry?” Song Qiming opened the curtains, brightening up the dim bedroom.

Wowo placed both front paws on the edge of the bed, silently urging Lin Yushu to get up.

“I don’t want to,” Lin Yushu’s hand peeked out from the blanket, absentmindedly rubbing Wowo’s head as he tried to delay getting out of bed.

“Then, skip lunch,” Song Qiming kneeled on the bed, opened the tightly wrapped blanket, leaned down, and kissed Lin Yushu’s lips.

This move was always effective in waking him up. The caterpillar hiding in the blanket protested as expected.

“Aren’t you human, Song Qiming?” Lin Yushu frowned, dodging Song Qiming’s kiss. “I’m so tired because of whom?”

“Thank you, my dear wife,” Song Qiming retreated, pinching Lin Yushu’s cheek with an unremovable fondness. “I brought your favorite steamed spare ribs, get up and freshen up.”

Well… the temptation of steamed spare ribs was indeed significant.

After freshening up, Lin Yushu sat lazily at the dining table, taking the chopsticks Song Qiming handed to him.

“Have you found any shareholders willing to support you?” He asked while munching on the spare ribs.

“None,” Song Qiming said. “I inquired around, and apart from Shao Hexu, the other relatives who hold shares are on Shao Hedong’s side.”

“It can’t be helped,” Lin Yushu shrugged. “Your grandfather put you in opposition to all the relatives, so it’s already good enough that Shao Hexu is willing to support you.”

“That’s all he can do,” Song Qiming said. “Otherwise, he would definitely be removed from the position of chairman.”

The appointment or removal of a director only requires a majority vote.

Originally, the appointment of a CEO was the same, but due to the Shao Guangjie incident, Shao Zhenbang modified it to require a two-thirds majority.

However, the rules for the appointment of directors remained unchanged, which gave Shao Hedong an opportunity.

With over 40% of the shares in his hand, he only needed to repurchase some shares from the secondary market, and he would become a significant player in Yong Xing Group.

“I inquired in various places these days,” Lin Yushu said, “The shares that Shao Hedong had others hold for him, along with your relatives’ shares, are around 46% to 47%.”

He paused and continued, “Your mother’s shares, along with Shao Hexu’s and Fang Tian Real Estate’s shares, amount to a total of 45.8%, less than theirs.”

“It doesn’t matter,” Song Qiming placed a piece of spare rib into Lin Yushu’s bowl. “Reaching 50% is what’s important.”

“Indeed,” Lin Yushu nodded while munching on the spare ribs.

At this moment, Lin Yushu’s phone vibrated, and it was a call from his brother, Lin Yuzhe.

Lin Yushu wiped his mouth with a tissue and answered the call, “Brother?”

“Are you still busy?” Lin Yuzhe asked, “We’re all back from Hainan.”

Lin Yuxhe and his family went to Hainan for a vacation on the first day of the Lunar New Year. According to the original plan, Lin Yushu should have returned from Germany around this time.

“Did you have a good time?” Lin Yuzhe asked.

“It was alright. How’s everything on your side?”

“We’re waiting for the shareholders’ meeting on the fifteenth day of the Lunar New Year,” Lin Yuzhe said, “Both sides are trying to accumulate as many shares as possible.”

“Do you need my help?” Lin Yushu’s suggestion surprised Lin Yuzhe. “Xunjie Tram has some idle funds that can be used to acquire Yong Xing’s shares.”

“No, please don’t.” Lin Yushu quickly dissuaded him, “Do you know how high Yong Xing’s stock price will soar after the new year?”

By now, all investment institutions, including those overseas, knew that Yong Xing was embroiled in internal conflicts. If they had any brains, they would rush in and buy Yong Xing’s shares. Because regardless of how high the stock price was pushed up, both Shao Hedong and Song Qiming would pay the price to gain control.

“Are you well-funded?” Lin Yuzhe asked again, “Are you sure you can surpass Shao Hedong?”

“Not exactly,” Lin Yushu found it a bit strange, “Why are you suddenly so enthusiastic?”

This shareholder battle was clearly a money-burning situation. Why would Lin Yuzhe want to join in?

Besides, even if he wanted to help, this was Song Qiming’s family affair. Why was his brother so enthusiastic about it?

“I just want to help,” Lin Yuzhe evaded the question, “If you don’t need it, then forget about it. If you encounter difficulties, feel free to contact me.”

Lin Yushu looked puzzled as he hung up the phone. Song Qiming asked, “What did your brother say?”

“He wants to use Xunjie’s money to help us.”

“That’s nice?” Song Qiming was also surprised. “Since your brother is so eager—”

At this point, he put on a serious expression, “You might as well ask him to sell Xunjie cheaply to me.”

Lin Yushu couldn’t help but roll his eyes. “Get out.”

On the fifteenth day of the Lunar New Year, during the Lantern Festival.

Early in the morning, Lin Yushu’s phone received many Lantern Festival greetings, but most of them were inquiries about the shareholders’ meeting scheduled for today.

These messages included pure friendship, like those from Zhan Ting, Lu Zibo, and others, who wished him success.

However, most were from colleagues in the capital market who wanted to get first-hand information.

From the beginning of the year until the fifteenth day of the Lunar New Year, Lin Yushu and Song Qiming had tried to persuade the relatives and investment institutions holding shares, but none of their efforts succeeded.

Relatives were not willing to help Song Qiming due to their positions, and investment institutions preferred to sell their stocks at high prices to Shao Hedong rather than support Song Qiming.

As a result, a week had passed, and Shao Hedong’s shareholding had increased continuously, while Song Qiming’s side had not seen any changes.

In the high-level office building of Yong Xing Tower, in the medium-sized conference room.

The last time Lin Yushu was in this conference room, it was for the board meeting to dismiss Shao Guangjie.

Now, during this shareholders’ meeting, Shao Hedong no longer let him preside and treated him as if he were invisible.

“The first shareholders’ meeting of the year 20×× is now officially in session, with the following attendees…”

After the secretary finished the formalities, Shao Hedong spoke unhurriedly, “The theme of this meeting, as you all know, is to dismiss several directors. These directors made wrong decisions in previous meetings, which hindered the company’s long-term development. They are Shao Hexu, Fang Lan, …”

The so-called wrong decisions were, of course, the dismissal of Shao Guangjie.

Shao Hedong’s intention was to get rid of everyone who opposed him, and both Shao Hexu and Fang Lan looked displeased at the mention of their names.

“Now let’s vote on this proposal,” Shao Hedong raised his right hand, “All those in favor of dismissing the mentioned directors, please raise your hand.”

Several people at the elliptical conference table raised their hands.

Lin Yuzhe noticed that some of the outside directors who previously supported the dismissal of Shao Guangjie were present, indicating that Shao Hedong had worked hard during this period.

But as he expected, Shao Hedong then said, “As the percentage of supporters is less than 50%, this proposal is not passed for now.”

As expected.

Lin Yushu and Song Qiming exchanged glances, showing no change in their expressions.

“What do you mean by ‘for now’?” Shao Hexu said angrily, “If it’s not passed, then it’s not passed. Do you want to drag it to the next meeting?”

“What’s wrong with that?” Shao Hedong replied calmly, “This time, we didn’t have enough time to repurchase sufficient shares. But it might not be the same next time.”

“You…” Shao Hexu was about to curse, but at this moment, Song Qiming spoke up.

He said to Shao Hedong, “Forget it, you won’t be able to get more than 50% of the shares.”

“Are you looking down on someone?” Shao Guangjie also chimed in, “This time, it’s because some funds are still in transit. If we had a little more time, would you even have a say here?”

Lin Yushu let out a light laugh, which earned him a displeased look from Shao Guangjie.

Fang Lan, an outsider, seemed to find it amusing too and said, “You were so anxious to convene the shareholders’ meeting, weren’t you?”

Shao Hedong indeed wanted to reshuffle the company as soon as possible to prevent Song Qiming from acquiring Xunjie Tram. However, he miscalculated the timing for the funds to arrive.

But even if he had calculated correctly, as Song Qiming said, he still couldn’t get more than 50% of the shares.

“Now that the previous proposal hasn’t passed,” Song Qiming said, “I propose a new one.”

Shao Hedong seemed to sense that something was not right and frowned, “What proposal?”

“To dismiss Chairman Shao Hedong.”

As soon as Song Qiming’s words came out, there was an uproar in the conference room.

“You want to dismiss me?” Shao Hedong wore a look of disbelief, “Who will be the chairman then? Shao Hexu? Does he understand the automobile industry?”

“No, it’s me,” Song Qiming said succinctly.

The conference room fell silent for a moment. Shao Guangjie burst into laughter first.

Others, like hearing a joke, sneered and didn’t take it seriously.

“Do you have the confidence to dismiss me?” Shao Hedong wore a slightly amused expression. “The shares you hold, we’ve calculated clearly, it’s at most 46%, right?”

“You don’t need to calculate. I’ll tell you directly.” Song Qiming took out the prepared agreement and handed it to the secretary, saying, “My mother’s shares, plus those of my uncle and Fang Tian Real Estate, add up to 45.8%.”

“And then?” Shao Guangjie asked.

Song Qiming handed another document to the secretary and said, “This is my shareholding certificate. In October last year, I acquired 4.75% of Yong Xing’s shares.”

As this number came out, the expressions of Shao Hedong’s side changed instantly.

Exceeding 5% would trigger a disclosure announcement. To conceal his identity as a shareholder, Song Qiming carefully acquired less than 5% of the shares and successfully hid it from Shao Zhenbang.

If Shao Zhenbang knew that his grandson had been preparing since last year, even before he returned to China, and had even incurred debts of tens of billions of US dollars to prepare in advance, his will would definitely have been different, leaning more towards Shao Hedong.

But he no longer had the chance to amend his will.

Before leaving, he left a difficult problem for his grandson.

Little did he know that his grandson had already prepared for it last year.

Though Lin Yuzhe and Song Qiming felt relieved after calculating the numbers, they continued to strive on multiple fronts, even though they couldn’t acquire more shares.

“Chairman Shao, this…”

The secretary of the chairman also looked at a loss. Shao Guangjie’s side was getting ready to retaliate, but Song Qiming interrupted.

“Regardless of the validity of this last-minute proposal,” Song Qiming said, “I have more than 50% of the shares in Yong Xing Group. It will be the same for the next meeting.”

“Song Qiming!” Shao Guangjie crumpled the shareholding certificate into a ball and hurled it directly at Song Qiming. However, Song Qiming just slightly moved his head to dodge it.

“You’re trying to mess with me, fine. But going after my father too? Don’t you go too far!”

“Xiao Jie, be mindful of the occasion,” Shao Hexu originally had a nonchalant attitude, but seeing the situation almost getting out of control, he spoke, “Victory and defeat are common in battles, don’t make it look so ugly. Your father also wanted to go after me, did you see me react?”

In fact, Shao Hexu almost wanted to curse as well, but he was interrupted by Song Qiming.

After all, he was an elder, and Shao Guangjie didn’t dare to talk back to him. He could only suppress his anger and sit back down.

At the same time, Song Qiming approached Shao Hedong.

“Uncle,” he said politely, “I am now the chairman of Yong Xing Group.”

 

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