Sharp is currently the world's largest LCD panel manufacturer, while Guanjie is the world's largest LCD display manufacturer.~~~~

Once these two companies are united, they can easily monopolize the upstream and downstream of the entire industrial chain. This is by no means good news for BOE.

Sharp transfers technology, Guanjie pays money to support a Taiwanese company on the island to do LCD panel projects. It is worthy of recognition only when considering the project.

Guanjie wants to develop into the upstream LCD panel industry, which has been fully revealed in its attitude towards cross-stakes in BOE. However, whether this partner must be BOE is not the final result.

In fact, in the face of the threat of Korean LCD panel companies, Sharp has long been the voice of transferring technology outward. After all, Japan's strength lies in its good technology, while South Korea's advantage lies in its low cost. If Japan's LCD panel industry wants to maintain its current market share, it must reduce their production costs.

Controlling and supporting a group of Taiwanese enterprises, competing with South Korea with the low production costs of Taiwanese enterprises is the best way out for Japanese people. After all, Japan's labor costs have become too high in recent years. Manufacturing industries with high technical content such as LCD panels are gradually losing competitiveness in terms of costs.

Now that there are more realistic reasons to curb BOE, it should be easier to convince Sharp's senior management.

Under such a background, Hara Heisuke has the courage to promise to cooperate with Guanjie and support the LCD panel companies on the island.

As for how Xuan Changsheng considers and whether he is willing to cooperate with Sharp, he will completely turn to Sharp. He is probably the only one who knows it in his heart.

"Mr. Xuan, this is the resolution of the BOE Board of Directors. I have authorized me to sign this cross-shareholding agreement."

Wang Zhongyang is now standing in the top-floor conference room of Guanjie headquarters building, with the people on both sides full of people. They all have solemn expressions.

Since Wang Zhongyang's side has been defeated, Song Cheng has to be in a row. Dongfang Ke, general manager of Fanhan Group, and Wang Zhongyang, stood side by side. The State-owned Assets Supervision and Administration Commission of the Imperial City sent a director with a reluctance to stand a little further back. Then there are the heads of various departments of BOE, the manufacturer director, sales director, and administrative director...

A wide range of senior and quasi-high-level "big bosses" stood behind Wang Zhongyang in a dense manner to support him.

In contrast, in Xuan Changsheng's Guanjie camp, in addition to himself, Du Zhenhua and Bai Qingshan stood behind him, one on the left and one on the right. Behind him was a senior team with a black suit, white shirt and red tie. If you just look at the outfit and momentum, Guanjie's preparations are indeed much more complete than BOE.

"The person standing in the third place is Director Huang of the State-owned Assets Supervision and Administration Commission of the mainland imperial capital." Bai Qingshan said quickly behind Xuan Changsheng, but on the surface he looked warm and welcoming.

"Mr. Wang, let the lawyers below do these things. Let's have tea first, please sit down, please sit down!"

Xuan Changsheng was good at dancing, waved his hand and asked the reception staff to invite everyone to sit down, and then brought various fresh fruits and tea specialties on the island. He said earnestly: "It is rare that Mr. Wang has prepared so quickly. BOE's reaction is so fast, I believe that he will not let my choice down!"

The staff on BOE took their seats in order, and Wang Zhongyang nodded cautiously and responded: "This time Guanjie's investment is a major event that concerns BOE's survival. There is no need for so many people to come. However, I hope our employees and executives will remember who helped BOE at a critical moment, and we BOE will never forget the friendship between President Xuan."

A moment of embarrassment flashed across Xuan Changsheng's face. Then he laughed and said, "I am ashamed of Mr. Wang's words. It should be said that BOE has provided us with an opportunity to develop upstream. We asked me to say, don't say anything like who is kind to whom. It's always a win-win situation for everyone!"

"Yes. Win-win! Hahaha!" Wang Zhongyang laughed and nodded sharply.

The two sides greeted each other for a while, because they were not competing companies, and they signed a cross-holding agreement. To put it similar, the two sides will be one family in the future. The atmosphere is not only intimate, but also joyful and harmonious. Everyone cheerfully praised each other, and time passed.

The lawyer teams brought by both sides completed the contract confirmation at this time and sent out the appraisal results without any problems, which suddenly increased the atmosphere again.

"Mr. Xuan, let me say something." Wang Zhongyang seemed a little impatient and said first: "I think we should be more pragmatic and don't do any rituals with vague heads and minds. The most important thing is to sign this agreement quickly to make people feel at ease."

Xuan Changsheng glanced at Director Wang who was sitting in the third place. Seeing his stinky face, he immediately realized. The State-owned Assets Supervision and Administration Commission of the Imperial Capital treated BOE like his own son. He made a lot of efforts during the implementation of the Jinglong Plan. He asked for money and wanted to connect with each other. He was the most direct backing for BOE's official official. I don't know how many hidden arrows and threats he helped block.

Now that BOE has a hard wing, the country wants them to play a greater role, but was stabbed in the back by the "own son" - if you still have a good temper, there will be ghosts.

Thinking of this, Xuan Changsheng felt a little clear-headed. I am afraid that the various plans for BOE in the future will not cause too much dissatisfaction and support from mainland officials, right?

Thinking of this, Xuan Changsheng smiled with confidence and nodded, "Since Mr. Wang is so sincere, Guanjie and I are naturally irresistible! Since everyone is here today, I think it's better to sign the contract now?"

"Okay, okay!" Wang Zhongyang nodded and smiled: "It's a pleasure to do business with President Xuan!"

In this way, there were no reporters, no flowers, and no warm applause. Under the gaze of many senior and quasi-senior leaders of Guanjie and BOE, Xuan Changsheng and Wang Zhongyang quickly signed a cross-shareholding agreement.

Guanjie took out 300 million US dollars worth of its own 30% stake and exchanged 30% of BOE's shares. BOE's own 4.5-generation production line is worth 500 million US dollars, and then includes two key technology patents worth 500 million US dollars. The market value calculation is about the same as Guanjie, both of which are around one billion US dollars.

Of course, Guanjie's 30% BOE shares were immediately diluted as soon as they bought it, and the original shares had changed.

Originally, BOE's investment ratio was US$200 million plus technology investment, which occupied 49% of the shares. BOE held the remaining 51% of the shares through self-funding and increasing investment by the Imperial Capital State-owned Assets Supervision and Administration Commission. However, in order to borrow and offset its financial advantages, PanHan Group placed patents for two technologies, IPS screen and high-voltage driver IC, into BOE, making the valuation value of BOE's assets reach US$1 billion.

This has turned BOE's equity before cross-holding into 75% of the shares of Fanhan Group, the Imperial Capital State-owned Assets Supervision and Administration Commission held 12.5% ​​of the shares, and the self-raised social funds accounted for 12.5%. After cross-holding, the proportion of the shares of the SASAC and self-raised funds accounted for even smaller shares, which became 8.75%. The 75% of Fanhan Group also became 52.5%.

With the patented technology in hand and the mortgage of Guanjie shares in exchange, I borrowed US$800 million from Guanjie to build a new fifth-generation LCD panel production line. This money is still not enough.

After Guanjie cross-holding, the Imperial Capital State-owned Assets Supervision and Administration Commission jointly with the Imperial Capital Branch of the five major state-owned banks in China to form a bank group to reinvest BOE with RMB 35 million, which was converted into more than US$407 million based on the brand price, and was reinjected into BOE for the construction of the new 5th generation line.

If BOE successfully builds the world's first fifth-generation line, its future will be limitless. No matter how reluctant the SASAC is (at least Xuan Changsheng believes that it is not.), this investment is really profitable.

After the capital injection of US$400 million, the SASAC held a shareholding of 35%. Before Guanjie's 30% shares were warmed up, they shrunk to 21%. Fanhan Group's 52.5% shares shrunk to 37.5%.

Wang Zhongyang and other management and social capital have been further compressed, and now they only hold 6.5% of the shares, becoming insignificant small shareholders.

In Xuan Changsheng's vision, the future struggle of the board of directors will mainly focus on itself, between the State-owned Assets Supervision and Administration Commission and the Panhan Group. Any two companies join forces to form advantageous shares, and the room for operation will be much greater. Although Guanjie is the weakest among the three, after Wang Zhongyang violated the intention of the upper class this time, how much cooperation basis can the two be left?

As long as it can become the weight on Libra, it doesn’t matter how many shares it holds.

After signing the cross-holding agreement between the two parties, the cooperation between BOE and Guanjie was just a basis for gaining a trust. Wang Zhongyang immediately pushed another agreement to Xuan Changsheng and said impatiently.

"Mr. Xuan, do you think you signed the agreement on mortgage loans by the way?"

Although Wang Zhongyang said it was by the way, Xuan Changsheng knew that this was not just a "stop", but the highlight of the entire cooperation. After cross-holding, Guanjie shares held by BOE mortgaged $800 million from Guanjie to invest in the construction of a fifth-generation LCD panel production line - this is the meaning of cross-holding.

"Since Mr. Wang is so anxious, haha, then sign it."

Xuan Changsheng was very happy and finally saw Wang Zhongyang's anxious look. Wang Zhongyang's performance today was too anxious and he was really a little out of his composure. You should know that when he first arrived in Taipei, his lukewarm attitude gave Xuan Changsheng a deep impression.
Chapter completed!