2003: Starting with Foreign Trade

Chapter 527 Great Discounts in Beicang District

"So, if everything goes smoothly, Orange Technology is going to set a record for the fastest IPO?"

In the best-case scenario, Orange Technology could go public within 25 or 26 months of its establishment. This would not only be the fastest IPO record for an internet company, but also the fastest IPO record for any company in China.

Even on a global scale, this is an incredibly impressive record.

As expected of Boss Tan, who is known for his high efficiency and love of creating trouble, he managed to release such a big topic from a simple press conference.

"Look, nobody's paying attention to Mr. Sun's joining the company anymore. If we want to shift the focus, creating a bigger focus is the best way."

Reporters focused their attention on Sun Tongyu and began to pay attention to Orange Technology's listing plan. No one thought about why Sun Tongyu was so familiar with Orange Technology's business anymore, and no one cared about his past grievances with Taobao.

Among them, several local media outlets in Ningbo and Beicang were the most excited. More than 10 years later, there were many listed companies in Ningbo and even Beicang. Tan Jincheng alone could count dozens of them.

A listed company may be nothing more than a decade or so later, but by then it is a guarantee of quality. The difference between a listed company and one that is not is huge. Not only does its reputation among workers rise sharply, but it also receives many subsidies and preferential policies.

Taking Beicang District as an example, in mid-2007, the district established a leading group for enterprise listing work, with the two leaders as the group leader, the leader in charge as the executive deputy group leader, and the main responsible persons of various functional departments as members.

The government provides assistance to companies throughout the region to go public, and implements a comprehensive support system to address the difficulties and problems encountered by companies during the listing process.

To date, the only listed company belonging to Beicang District is Shenzhou Group, which is listed on the Hong Kong Stock Exchange. Last year, Tan Jincheng announced that he would take Flash Technology and Orange Technology public, and the enthusiasm of the district was even higher than that of Tan Jincheng himself.

Orange Technology's initial preparations went smoothly, and the assistance from Beicang District was crucial, utilizing a significant amount of resources and providing practical one-on-one guidance.

There are many steps involved in a company going public. It is relatively simpler for internet companies to go public on NASDAQ, as it is more like a capital game. However, it is still impossible without the help of local governments.

If Ali hadn't moved back to Hangzhou, but stayed in Beijing or Shanghai, it certainly wouldn't have achieved such rapid development and received so many resources. The same goes for Orange Technology.

The local people in Beicang are already discussing land acquisition with Gu Qingqing, offering incentives that even Tan Jincheng is somewhat envious of, all in case Orange Technology moves away.

Although she had rested for three months, Sun Tongyu's proficiency in dealing with the media was clearly far superior to Gu Qingqing's, and she handled it with ease.

Midway through the press conference, Tan Jincheng's phone rang; it was a call from Director Gu.

Tan Jincheng figured that the news must have come from Orange Technology about submitting its prospectus. Although the district was helping with the preparations, the specific progress was still controlled by Orange Technology and Shen Nanpeng, so they weren't very clear about the progress.

"I'm going out to take this call. You guys handle things for now," Tan Jincheng said softly to Gu Qingqing, pointing to his phone.

Gu Qingqing nodded and took over the hosting duties.

As he walked towards the outer perimeter, he waved his phone at the reporters below the stage.

The phone call was indeed about Orange Technology's IPO. A reporter from Beicang District contacted the newspaper's leadership, which led to Leader Gu. Orange Technology was very likely to become the fastest company to go public in China, which greatly excited the district.

"Xiao Tan, why didn't you mention submitting the prospectus last time? We could have made some preparations."

His seemingly complaining tone revealed excitement. He was also an important member of the listing support team. Although it wasn't Flash Technology that was going public, Orange Technology's listing was equally important to the district and their honor.

"As you know, boss, I don't pay much attention to the specific affairs of Orange Technology, otherwise it would be considered overstepping my bounds."

"Stop talking nonsense. You're all family under the covers. Why are you telling me this? Besides, you're still the president of Orange Technology."

"Haha, you're joking, boss. I wonder what instructions you have?"

It's clear that Director Gu is in a really good mood; he's even making these kinds of jokes.

"Enough with the small talk, does Orange Technology have any intention of establishing its headquarters in Beicang?" As happy as he was, this was what Leader Gu was most concerned about.

Beicang, and indeed the entire city of Ningbo, lacks any internet-related DNA. There are many doubts from the outside world about why Orange Technology has not moved out of Beicang. In addition, the district also knows that Orange Technology's investment institutions actually support moving out of Beicang.

Orange Technology currently has no plans to establish a headquarters. According to Tan Jincheng, the existing office building at Flashpoint is sufficient, and they want to save money wherever possible. However, this is just a statement, and the district cannot confirm whether it reflects Tan Jincheng's true intentions. In the Beicang District's view, Orange Technology would be a failure even if it moved to another district in Ningbo without a headquarters building.

The CEO is currently a student at Ningbo University, and Beicang is genuinely afraid of losing him.

"We don't have the money. Orange Technology's plan this year is to focus on developing warehousing and logistics. There are really no plans for a headquarters building."

In addition to warehousing and logistics, the number of users is increasing, which requires processing more data and puts a greater burden on the servers. Furthermore, there is a plan to introduce outlet malls this year to combine online and offline channels.

There are no plans to build a headquarters building. Not only this year, but at least for the next three to five years, unless the company's staff expands to the point where the Flash headquarters building can no longer accommodate them, there are no such plans.

Money should be spent wisely.

"If you're short of money, the district can help you. It's not very prestigious to still be renting office space when you're about to go public. We can also offer you a discount on land. Take a look and choose a suitable place."

"Oh, is that so? Boss, are you worried I'll run away? You really don't need to worry about that. Qingqing and I are getting our marriage certificate on National Day. Where could I run off to?"

The top leader spoke so bluntly because he was genuinely worried that Orange Technology might run away with the money. Currently, the city that is most interested in Orange Technology is Shenzhen, as Orange Technology's two most important partners are both in Shenzhen.

Shenzhen, which is quite sensitive to internet technology, has actually invited Orange Technology to relocate there several times through Pony Ma's connections.

In addition, Hangzhou and Shanghai within the province also extended invitations, mainly because of Orange Technology's upcoming IPO. Information sources in big cities are much more readily available than in smaller cities.

"The district provides a lot of support for companies that are about to go public, so you don't need to be envious. If Flash Technology goes public, it will also receive preferential treatment in this regard."

Providing land and loans is the most practical thing to do. For a high-ranking leader to be so straightforward with Tan Jincheng, it shows that he is somewhat anxious.

After a moment of thought, he said, "How about this, let's have a meeting after our press conference. Building the headquarters building also involves the company's strategic adjustments, so we need to communicate with the management. In addition, you can also contact Mr. Sun about specific matters concerning Orange Technology in the future."

"What? Is Xiao Gu going to back out?"

"It's not exactly a withdrawal. No matter how much Orange Technology touts itself as small and beautiful, that's only relative. It's definitely more appropriate to have professional people manage it in the future. Also, there are some other family arrangements after Qingqing and I got married."

The leader on the other end of the phone didn't speak. After a moment of silence, he said, "Go on."

"As the president, I'm just keeping the general direction unchanged. I don't handle the specifics. Also, boss, I'm not saying this to be mean, but the district really needs to implement a talent recruitment plan. Look, we've even poached the father of Taobao, and the district hasn't shown any appreciation."

"Ha, you're even giving us instructions on our work. But your suggestion does make sense. It's really necessary to develop some of our emerging industries through Orange Technology and bring in a group of talents. I'll help you put it forward to the higher-ups."

“I told you to come to the government office, but you wouldn’t. Now you’re suddenly offering your opinions.”

However, this was indeed a mistake on the part of the district. The district knew about the rumored hiring of Sun Tongyu and the change of Orange Technology's shares, but failed to react in time to realize that this was a good opportunity.

Sun Tongyu joined Orange Technology as an investor, not as a regular employee. His $4500 million investment in Orange Technology is equivalent to an investment in Beicang.
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Because of a press conference held by Orange Technology, the Beicang District received exceptional treatment, and Huang Ming and Cheng Linfeng, who were located in Shandong, also received a warm welcome from Shuguang Auto and the local government.

With Tan Jincheng publicly acknowledging Flash Group's car manufacturing plan in front of the media, the media exposure of Huang Ming and Cheng Linfeng's research trip has been interpreted differently.

The previous research by ByteDance Engine was only reported to Shuguang Auto, and Shuguang Auto simply thought it was a research activity conducted by ByteDance Engine in the secondary market.

The only host was Shuguang Automotive, and it was still just a research visit by a fund company.

Tan Jincheng's public statement made Shuguang Auto and Shan Dongfang realize that this research on ByteDance's engine might not just be a research based on stock investment, but a possible opportunity to cooperate with Flash Group to manufacture cars.

This is something that not only Shuguang Automotive welcomes, but also Dandong. No one would think that Juxing Engine is aiming for an acquisition.

Although it's Plan B, Tan Jincheng wouldn't mind acquiring Shuguang Automotive entirely if he could, since Shuguang Automotive's market value is one-third less than Changfeng Group's.

For this one-third of the market value, it would be worth taking the risk if we could acquire it successfully; at worst, we could give up the Dandong base.

(End of this chapter)