Chapter 312 Gentle Force to Abdicate

Sina held three shareholder meetings this year, two of which were temporary meetings, which is unprecedented not only for Sina, but also for other portals and other Internet companies.

In 2002, there is no doubt that Sina was the No. 1 in the Internet industry.

Even though Tencent has found a value-added channel and Baidu has started to engage in bidding ranking, Sina is still a representative of the Internet industry in terms of scale, brand and influence.

Now, this representative who first arrived at Nasdaq to set an example for domestic companies is about to hold an extraordinary shareholders' meeting to determine the fate of the next period of time.

This makes the media excited and the industry pays attention.

Duan Yongji unexpectedly lost at the board meeting, but everyone does not think he can really lose to Fang Zhuo by much, and all shareholders will exercise their rights.

Some media analyzed Sina's current equity structure. Fang Zhuo holds 34% of the shares. Counting the board situation that was exposed, he directly affects 40%+ of the voting rights.

Although Duan Yongji holds fewer shares, he has been working in Sina for many years and has a solid status as a business leader. In addition, he has two months to convince the board of directors again, so he must have a lot of voting rights that can be influenced.

Not to mention that Duan Yongji still has the upper hand, the two sides are at least 50-50.

The enthusiasm of public opinion has not been extinguished and it is surging again. Duan Yongji also frequently contacts small and medium shareholders he knows, intending to fight back at the interim shareholders' meeting.

In such a situation, Fang Zhuo did not do much. He just sorted out the six-week KPI assessment, the data of the two operators, and the revenue report of more than a month, and then quietly contacted the directors and executives he could contact.

Finally, Fang Zhuo walked into the office of the president of Sina with materials one day before the shareholders' meeting.

Mao Daolin, president of Sina.

Speaking of the position of president of Sina, there have been four people in five years. Compared with Ding Lei for NetEase and Zhang Chaoyang for Sohu, Sina's frequent changes of leadership are destined to make it gradually outdated.

Even with the social media cultivation of Sina Weibo, Sina.com, the most well-known portal website in China, was privatized and delisted from the US stock market.

Mao Daolin took over or seized the leadership seal from the founder Wang Zhidong, but the president eventually did not escape the abdication. His prominent status on another level did not help the market value and was destined to not stop the directors from voting.

"Mr. Fang, what's the matter?" Mao Daolin was in a good mood recently. The development of Sina Hotline was a great benefit to Sina, and he felt that Fang Zhuo, the vice president who entered Sina through other means, was acceptable.

Fang Zhuo silently put the materials in his hand on the president's desk and smiled, "Mr. Mao, take a look."

Mao Daolin took the materials and saw that this was the performance of Sina Hotline from Fang Zhuo taking over in July to the end of August.

He simply flipped through the materials, looked up and praised: "Mr. Fang is indeed very capable, no wonder Yike is so successful."

"I am indeed somewhat confident about the development of the Internet. Yike still has room for improvement, and of course, Sina is also." Fang Zhuo nodded slightly, and then said, "Mr. Mao, please read to the end."

Mao Daolin turned to the end with a bit of surprise, and his eyes suddenly fixed.

The last page was signed with different names in different handwritings.

Several directors and several executives.

Mao Daolin slowly put down the materials, and a subconscious question of "what does it mean" was suppressed in his throat. He shook his head slightly and uttered: "Why is it so?"

If Duan Yongji had not been forced out at the board meeting, he might have been more surprised, but now he actually felt a strange calmness.

Among the signatures were the people who he contacted last time to vote for Duan Yongji.

The funny thing is that there were also people who supported Duan Yongji to stay last time.

Fang Zhuo pondered and did not answer.

Mao Daolin finally felt a little sarcastic and looked at Fang Zhuo: "Even if the board of directors convened, you have enough votes to remove me. Now you want me to step down and let others take over?"

"With so many people, Mr. Fang, you really put a lot of effort into it."

Fang Zhuo nodded and shook his head: "Mr. Mao, as the president of Sina, you will definitely stick to your own strategic plan for the company, right?"

Mao Daolin's eyes were sharp: "Do you want me to be your puppet?"

Fang Zhuo said lightly: "So, I didn't spend much time persuading these people who signed. I just showed them the same materials in front of you and said something similar to what you said just now."

Mao Daolin was stunned.

"You have to stick to your opinion of Sina, but no one likes your persistence now."

"Sina is in urgent need of profitability and market value increase. Some directors want to leave at a high price, and some executives want to pursue further goals."

"You won't be my puppet. It doesn't mean anything to you. They think I am more suitable for the current Sina."

Fang Zhuo pointed to the materials again: "So, they signed very easily."

Mao Daolin looked obscure. Was Fang Zhuo lying?

No, even the president of Sina himself was satisfied after reading the materials, let alone those people?

The revenue of Sina Hotline has only been announced in the board of directors since July. The company only has employees' independent estimates, but the revenue in August was collected by the Sina Hotline team.

In the first week of July, many employees knew that China Mobile gave the hotline a million-level repayment.

Mao Daolin clearly remembered his joy for the 2.53 million yuan.

During the three weeks of July, Sina Hotline received 8.36 million yuan in revenue from China Mobile, while its advertising revenue in the first month of the previous quarter was 11.52 million yuan.

Sina Hotline has caught up with Sina's advertising revenue in such a short time.

"Do you think Sina Hotline's model can continue?" Mao Daolin sat steadily in his office chair and asked.

"No." Fang Zhuo gave an answer that surprised Sina's president, "But your current strategy for Sina will not help Sina's recovery."

Mao Daolin was slightly angry: "What do you think?"

Fang Zhuo sighed: "Do you think you will be convinced if I say it? I have never talked to these directors and executives about Sina's future. They just saw the value that the hotline brings now."

Mao Daolin understood what Fang Zhuo meant. These people just watched what Fang Zhuo did, not what he said.

Just by words, he couldn't believe that Fang Zhuo could lead Sina to a better position.

He was silent for a long time, his eyes drooping on the list.

Fang Zhuo also had patience, waiting for Mao Daolin's self-persuasion.

"It seems that Old Duan is also wishful thinking tomorrow." Mao Daolin slowly spoke, "Sina's ownership is about to come to an end."

"From my arrival at Sina Hotline, it has actually come to an end." Fang Zhuo heard the meaning and affirmed, "Mr. Mao was appointed in the midst of Sina's shock last year, and Sina's financial income stopped falling and rebounded. This is destined not to be forgotten."

Mao Daolin sighed. Fang Zhuo, who has not met him, would think he is arrogant and domineering from the "hostile takeover" and "board of directors forcing the palace", but in fact he has his own temperament.

He stood up, stretched out his right hand, and gave a blessing with grace: "I hope Sina will be better tomorrow."

"Definitely."

Fang Zhuo shook hands with the former president of Sina, solving the main issue of this meeting.

Tomorrow is three o'clock.