Rebirth 2010: I taught Mr. Lei how to make a mobile phone

Chapter 789 Lu Qi Takes Over
"In the future, our pace will change, but what remains unchanged is also very clear: our values ​​will not change, our strategic direction will not change, and our 'All in' spirit will not change, because we firmly believe that LeEco's internet ecosystem strategy represents the mainstream economic theory for the next stage of economic development."

I believe that after a short period of adjustment, LeEco will be in a much healthier state, and this time we just need to sprint forward, no more blindfolded operations!

Jia Yueting's speech was as passionate and inspiring as ever.

This press conference also attracted the attention of many media outlets, the public, and investors, and was widely reported by the media.
Sunac provides 150 billion yuan in aid to Jia Yueting of LeEco: a one-time solution to his funding problems.

Sun Hongbin's Calculations: Is the 150 Billion Yuan Acquisition of LeEco a Matter of the Present or the Future?

"Jia Yueting's 'White Knight' Appears—And It's Him?"

Fellow villagers helping each other, tears welling up in their eyes.

From blindfolded recklessness to blindfolded recklessness, will LeEco's legend continue?

"Sunac Investment's positive news hits, LeEco's stock price surges 10% to 35.92 yuan, market capitalization returns to 700 billion yuan!"

Just as the media were vying to proclaim LeEco's "successful survival" and shareholders were spreading the word that LeEco's stock price would surely regain its former glory after trading resumed.

After returning home from the press conference, Jia Yueting immediately called his wife, a former actress, as she had contributed significantly to securing investment for LeEco Pictures.

"In a few days, you should take the kids to the US to relax."

Didn't LeEco just raise 150 billion yuan? Is it really that serious that it has to go abroad?
Although his wife was puzzled, she was sensible and didn't ask any more questions. Years of companionship had given her a deep understanding of her husband's business acumen. "How long do you need to stay there?"

"When I get here, you might need to use your old skills to put on a show."

"Okay, I'll listen to you," the wife replied briefly, without asking any further questions.

After watching his wife leave, Jia Yueting locked himself in his study.

The winter wind in the capital city outside the window was biting cold, but it couldn't chill his mood at that moment.

He originally planned to take another gamble, but after getting to know Sun, even with his 150 billion now, and hearing the other party's true intentions, he felt like he was being schemed against, and increasingly felt like he was dealing with a tiger for its skin.

"What I need is life-saving money, Sun Hongbin. No! Perhaps the people behind them aren't after LeEco's business, but rather the land reserves they purchased earlier." Jia Yueting shook his head with a bitter smile.

Some things are currently beyond his control, and he needs to plan ahead.

Since his boss ran into trouble, Jia Yueting has reduced his holdings on several large scales.

从2015年6月-2017年1月，近一年半时间里，他持股比例由近45%降到26.45%，两年内减持的乐视股票至少价值117亿元。

Besides reducing his holdings, a large portion of his shares have been used for equity pledges. Since 2013, he has made more than 38 equity pledges, accumulating a total amount of more than 311 billion yuan.

However, in order to dispel external doubts, he explained at the time that, on the one hand, he claimed that all the cash-out funds were "lent to the listed company without interest" to support LeEco's operations and the Supercar business; on the other hand, he loudly proclaimed that this move was to "introduce strategic investors and optimize the equity structure".

Through meticulously planned media campaigns, this series of actions was packaged as a heroic act of "selflessness for the public good."

For a time, public opinion praised Jia Yueting as a "capable entrepreneur," and the name "Jia Jobs" spread like wildfire. However, of the "10 billion yuan" he claimed to have lent to LeEco, only 57 billion yuan actually arrived, and nearly half of that was quietly withdrawn by him under various pretexts.

These are the previous methods, Jia Yueting said, looking at the results of his overnight design.

According to the Bankruptcy Law, after a company declares bankruptcy, the remaining assets are distributed in the following order: employee wages, taxes, ordinary claims, and shareholders' equity.

So he quietly changed his identity from "shareholder" to "creditor".

This means that if LeEco goes bankrupt and is liquidated, he will be able to recover his loans before his employees, taxes, and suppliers.

The remaining wealth is completely locked up through an "irrevocable trust," a financial instrument that ensures that these assets will not be pursued even if the company is burdened with debt in the future.

In other words, no matter how much debt he incurs in the future, through this method, there is no concept of the son paying for the father's debts.

Don't be fooled by his all-in attitude in public; it's all an act for others.

This made him determined that taking half of the 150 billion was not unreasonable, and he no longer felt any guilt.

He has only one thought now: I can lose everything, but my family must not suffer the slightest injustice!
There's a hidden logic behind this: my family's money is also my money.
On this long winter night, a "removal from the cage" plan, to be implemented gradually over the next six months, began to take shape.

The study light stayed on until dawn, just like the last stubborn lights that remained on in the LeEco building.

One night passed.
Looking at the morning light on the horizon, Jia Yueting smiled.

Since both sides have gotten what they wanted, then everyone is happy. Once the asset divestiture is complete, I will be going to the United States to manufacture cars, and I will not be accompanying you.

On January 14, LeEco resumed trading, and its stock price fluctuated wildly that day. The double V pattern highlighted the intensity of the battle between bulls and bears. In the end, it closed up 3.8%, which shows that the capital market is still optimistic about LeEco's prospects.

However, on the same day in China's internet circle, the real protagonist was not Jia Yueting, but another giant - Beyond Technology.

Beyond Technology Group, arguably the most influential technology giant in China, has officially announced a major management reshuffle:
"Lu Qi, Group Vice President and Senior Strategic Advisor, is appointed as the Chief Executive Officer (CEO) of Beyond Group. The presidents and vice presidents of the various business lines who originally reported to Chen Mo will now report to Lu Qi, who in turn will report directly to Chen Mo."

Lu Qi will be fully responsible for the product, technology, sales, and marketing operations of the Beyond Group. This appointment is effective immediately.

On that day, Chen Mo, Chairman of Beyond Group, published an internal open letter entitled "New Singularity, A New Beginning," in which he stated:

"This is a crucial step taken on the other side."

I will step back from daily operations and devote more energy to more important areas such as the group's long-term strategic planning, corporate culture exploration, technological innovation system construction, and corporate social responsibility.

"I believe that under Dr. Lu Qi's leadership, this giant ship on the other side will continue its high-speed forward momentum, riding the winds and waves to cross the vast ocean."

However, neither the outside world nor the inside of the Beyond Group was surprised by this. After all, they had put in so much effort to achieve the goal of "Qin lost its deer, and Beyond gained it," but in the end, Lu Qi only served as a senior advisor who lived in seclusion in the shadows, which was indeed a waste of his talents.

Lu Qi has been with Beyond for half a year, and the position of CEO can fully unleash the potential of this "most prominent Chinese in the global technology circle." This appointment represents Chen Mo's complete delegation of authority and further demonstrates his boldness.
(End of this chapter)