Chapter 922: Listing Price Drops (4k)

On September 9, Morningstar Semiconductor was listed in Hong Kong.

As an international high-tech company focusing on the research and development of mixed video signal control chip technology, Morningstar's IPO of $200 million went smoothly and was also sought after by many institutions.

In the six years since its establishment, Morningstar has grown rapidly at an annual rate of more than 50%, from monitor chips to TV chips and mobile phone chips that have already been approved, and has gradually become a well-known IC design company in the world.

In 2005, Morningstar became the world's leading supplier of LCD monitor chips. This year or next year, Morningstar is expected to become the world's No. 1 LCD TV chip market share.

With such a development momentum and such R&D capabilities, Morningstar Semiconductor has a promising future.

However, as the company's senior vice president and marketing director Wei Boyun, who has been promoted many times recently, he has been anxiously waiting from last night to this morning.

As soon as Wei Boyun received a call from Mr. Liang, he realized that there was a big problem.

He has been fighting in the first-tier markets in the mainland, South Korea, and Japan, and he knows where the company's future lies.

In the past few years, the rapid development of MStar Semiconductor is inseparable from the rapidly growing market in the mainland and the strategy of grabbing market share with low prices, but this does not mean that it can continue.

The upstream and downstream of semiconductors in the Japanese and Korean markets are relatively tight. Now that MediaTek has entered the field of TV chips, MStar has suffered significantly greater competitive pressure.

The difficulty of jumping from TV chips to mobile phone chips is not as difficult as the development from monitors to TVs. The repeated tape-outs from last year to this year are proof of this.

Under such circumstances, a mobile phone brand with huge local advantages and that has already fought its way out overseas is precious.

Wei Boyun can responsibly say that as long as MStar can reach a cooperation with Yike, it will be a new world.

On the contrary...

Ding Dong.

The elevator door opens.

"Mr. Fang!" Wei Boyun waited for the hotel elevator and finally waited for Mr. Fang, whom he had not seen for a long time.

"Oh, Mr. Wei, I heard that you got promoted. How are you doing recently?" Fang Zhuo smiled at the familiar Wei Boyun.

Wei Boyun was relieved when he saw the kind smile. He followed him and said, "It's okay, but the pressure is greater."

"Well, get in the car." Fang Zhuo glanced at the scattered reporters and got into the car first.

Wei Boyun walked around and got into the passenger seat.

However, as soon as he sat down, he found that Mr. Fang's face was no longer smiling. He was shocked, but he still had to bite the bullet and bring up the most important topic: "Mr. Fang... I heard that the chip..."

"There's nothing to say. Mr. Liang and I have already talked about it. Don't make it difficult for me." Fang Zhuo said lightly.

Wei Boyun felt that he was really in trouble.

He thought about the greeting Mr. Fang had just given him, and tentatively talked about his work after the promotion and Morningstar's development of the Japanese and Korean markets.

This was really not interrupted by Mr. Fang.

Wei Boyun's thoughts gradually became smooth: "Mr. Fang, you are a shareholder of the company. This listing is a great event for Morningstar. The future development of Morningstar depends on you."

"I know what you are here for, Mr. Wei. Our cooperation depends on you, not me." Fang Zhuo looked at the street scene of Hong Kong, "Do you think a company's important products can be determined by just a few relationships?"

"Mr. Fang is right. Only good products can achieve mutual success with good products." Wei Boyun said calmly, "We at Morningstar are confident that we can come up with good products, but it takes some time. If there is anything wrong, please criticize us more so that we can make more progress."

Fang Zhuo frowned, but he was not polite and directly criticized Morningstar for "doing nothing" for more than half a year.

It may be a bit too much to say that it did nothing, but 59 points and 0 points are both failing.

The car arrived at the Hong Kong Stock Exchange.

"It's not that I want to block Morningstar, it's the product department that has raised the issue." Fang Zhuo said before getting off the car, "As a potential partner, Yike has provided a lot of convenience and given you an opportunity. If you can't grasp it, what can I do?"

Wei Boyun's forehead was sweating. Seeing Mr. Fang get off the car, he hurried down to accompany him into the Hong Kong Stock Exchange.

Morningstar's listing today, the issue price is 37 Hong Kong dollars, and the estimated market value is 2.1 billion US dollars.

At this time, the head of the company, Liang Gongwei, was accepting media interviews with a glorious face.

Fang Zhuo had no intention of getting close to him, and the secretaries and assistants also separated the reporters who came over when they saw Mr. Fang.

"Mr. Fang, you are right to criticize. Morningstar has been wasting time and opportunities in the past few months." Wei Boyun is still trying to make Mr. Fang change his mind, "But we are indeed working hard. One objective reason is that the French team acquired before was not integrated well enough. This problem has now been effectively improved."

He mentioned the acquisitions made by Morningstar to enter the field of mobile phone chips, and let that side take the blame first.

Fang Zhuo glanced at Wei Boyun and said in a gentle tone: "As a collaborator, I said a lot and was quite straightforward, which might have been a bit hurtful."

"No, Mr. Fang, it's because we didn't do our job well. Your words are not hurtful. I am sad, but I am sad that we didn't seize the opportunity given by Yi Ke." Wei Boyun felt that if criticism could be exchanged for forgiveness, it would be the most cost-effective thing in the world.

Fang Zhuo nodded slightly: "Just now as a collaborator, now as a shareholder, I have to say a few more words. Listing is far from the end. There is MediaTek in Baodao and Spreadtrum in the mainland. The road to price war is not easy. If Morningstar loses Without enthusiasm, the issue price may be the highest point.”

Not everyone can win a price war, but the threshold for participating is definitely not high.

MediaTek is already concentrating on Xiao M on the same island and working in the field of TV chips, while Spreadtrum, which is located in Shanghai and is affiliated with Ziguang Group, is also trying out mid-to-low-end mobile phone chips.

Wei Boyun nodded carefully and was criticized by Mr. Fang for half an hour in a blink of an eye.

"I don't know how Morningstar makes decisions internally." Fang Zhuo said with a dry mouth, "But since it's Mr. Wei and you are so sincere, let's see how your chips are doing in December this year. If it doesn't work, it won't work." ”

Compared with the statement given to Liang Gongwei yesterday, this is another two months of grace.

Wei Boyun was overjoyed and did not lose his composure. He just said steadily: "Don't worry, Mr. Fang, Chenxing will definitely come up with the best design."

Fang Zhuo looked at Wei Boyun and said meaningfully: "This time it's about our friendship, not Morning Star, not Liang Gongwei, but it's only this time."

He walked to the reporter who had been waiting for a long time on the other side.

Wei Boyun didn't have time to taste Mr. Fang's words, so he breathed a sigh of relief, and then felt sweat all over his back.

"Mr. Wei, drink water." Secretary Liu Zonghong did not follow the boss to maintain the order of the interview, but thoughtfully handed Mr. Wei a bottle of mineral water.

Wei Boyun thanked him and drank half the bottle.

"Secretary Liu, how is the cooperation between MediaTek and our company going?" Wei Boyun saw Mr. Liang's gaze, but he didn't rush over. Instead, he took the opportunity to inquire with Mr. Fang's secretary.

Liu Zonghong shook his head: "I don't know about this matter."

He looked at Mr. Wei's expression and revealed the news: "Mr. Wei, don't worry too much. Mr. Fang mentioned Morningstar yesterday and praised your achievements in the market. He said that Morningstar would never be what it is today without you. Listed."

Wei Boyun smiled bitterly. He was quite satisfied at first, but after waiting like this all night and being trained for nearly an hour, his head was numb.

However, Mr. Fang has good people around him, and Secretary Liu is very kind to him every time he meets him.

Wei Boyun sighed: "Secretary Liu, thank you for your comfort. If you are free in the past two days, I will treat you to dinner."

Liu Zonghong smiled slightly, but neither agreed nor refused.

Wei Boyun said goodbye, he still needed to inform his boss of the news.

Liu Zonghong looked at the man's back and considered whether to call Zhang Xuebin of Meiling in Luzhou at noon or in the afternoon. No matter what the performance of Morningstar's IC design was, Meiling might have further contact with MediaTek.

Also, he knows that Yike will not choose Morningstar or MediaTek this time, and will still maintain cooperation with Qualcomm.

You can't blame the boss for this. Just like Mr. Fang said, he failed to seize the opportunity. Now that he has passed that point, it won't work no matter what.

Liu Zonghong looked at the exchange between Wei Boyun and Liang Gongwei, and wondered whether the stock price of Morning Star would reach its peak today.

Fang Zhuo, who was being interviewed on the other side, did not expect to come to help today as a Morningstar shareholder, but most of the questions these reporters asked were about Yike.

"Mr. Fang, have you considered listing Yike on the Hong Kong Stock Exchange?"

Fang Zhuo replied: "Yike's performance in the US stock market is good and there is no shortage of money. I don't have this idea for the time being."

"Mr. Fang, why hasn't Mars been selling goods in Xiangjiang for so long? Do you look down on the market in Xiangjiang?" A reporter asked a series of questions, "Have you heard the voices of consumers in Xiangjiang? Are you deliberately ignoring them? ?”

Yike mobile phones are not sold in Hong Kong. Last year, only a small number of the first-generation Mars products were launched, and this generation of Mars2 is completely missing.

This caused many Xiangjiang consumers to go to Fangzhuo's Weibo to report their problems, and Yike Company also received many direct inquiries.

Fang Zhuo replied calmly: "The operators in Xiangjiang have some objections to Yike's sales model. We are working hard to solve this problem. I believe it will be normal soon."

The five 3G operators in Xiangjiang showed little enthusiasm when the first generation of Mars was released. By this year's second generation, they were unwilling to purchase and distribute it, and instead proposed conventional sales.

Seeing that the attitude here was rather arrogant, Yike kept talking calmly.

Currently, a breakthrough lies in China Mobile's Hong Kong subsidiary, China Telephone Company, which currently only has a 2G license.

If we really can't reach an agreement...then we can't reach an agreement.

Yike's main focus is on three major markets, the Mainland, Europe and the United States.

The reporter was not satisfied with Mr. Fang’s answer: “Mr. Fang, do you think there are not enough consumers in Xiangjiang, so you despise them?”

Of course Fang Zhuo couldn't admit this and denied: "No, not only do I not despise, but I also attach great importance to the consumers here. I just said that the operator has differences with us. For the sake of the Xiangjiang market, I even considered acquiring or establishing A telecommunications operating company.”

The reporter was surprised: "Acquisition or establishment?"

Fang Zhuo smiled and said, "How about it? Am I good to consumers?"

It sounded true just now, but now it sounds like a joke.

The reporters were confused about the situation for a while and tried to verify the authenticity.

Fang Zhuo smiled but didn't want to answer this question: "It's almost time. If there's nothing to ask, I'll go to watch the bell ringing. This is my first time to watch the bell ringing at the Hong Kong Stock Exchange."

"Mr. Fang, you will be able to watch it for the second time soon, right? Won't you come to Yongke Real Estate's listing?" The reporter mentioned another company with a deeper connection.

"Almost, if I'm not busy at that time." Fang Zhuo answered vaguely.

It may be busy later. Yongke Real Estate has cultivated a lot of autonomy, which makes people feel at ease. It doesn't matter if he comes or not.

The time is about to reach 9:30. The Hong Kong Stock Exchange calls it ringing the bell, but it is actually ringing the gong.

Fang Zhuo didn't answer the question again. After a brief two minutes of entanglement, he walked towards Liang Gongwei who had been waiting for a long time.

"Mr. Fang, you come, you come." Liang Gongwei wanted Mr. Fang, a shareholder who holds 14.5% of the shares after the IPO, to ring the gong.

"Morningstar is listed, how can you, the founder, not ring it." Fang Zhuo refused.

Liang Gongwei insisted that Mr. Fang also come on stage.

"I won't ring the bell. Why don't you let Mr. Wei do it?" Fang Zhuo suddenly glanced at Wei Boyun next to him.

Wei Boyun was startled by the proposal and quickly refused.

Several founding members beside him looked at Senior Vice President Wei Boyun at the same time.

"Mr. Liang, Mr. Fang, you guys go together, you guys go together." Others of Morningstar urged him and handed over the second gong hammer.

Seeing that the time was really running out, Fang Zhuo had no choice but to agree.

Liang Gongwei and Fang Zhuo went on stage together, with the real-time time displayed on the screen behind them.

At 9:30, the two of them struck the gong with gong hammers at the same time.

The crisp sound announced the successful listing of Morningstar Semiconductor.

On September 9, Morningstar Semiconductor (the new stock name is "Cayman Morningstar", stock code "03928.HK") was officially listed on the main board of the Hong Kong Stock Exchange and successfully landed in the capital market.

Mr. Liang Gongwei, Chairman of the Board of Directors of Morningstar Semiconductor, Mr. Fang Zhuo, a shareholder, and senior management of the company attended the bell ringing ceremony.

Representatives of Goldman Sachs, the sole sponsor and sole global coordinator, representatives of Hong Kong Securities Co., Ltd., the joint lead manager, and guests from various listing guidance institutions witnessed the glorious moment of MStar Semiconductor's listing.

Media reporters took pictures of Liang Gongwei, the head of MStar, and Fang Zhuo, the richest man in the mainland, smiling at each other, and published them as a report photo with the title "The richest man in the mainland landed on the Hong Kong Stock Exchange".

In the afternoon, along with the good news that MediaTek and Luzhou Meiling confirmed their cooperation and looked forward to Changhong's business, MStar's stock price fell below the issue price of 37 and closed at 35.5 Hong Kong dollars.

Wei Boyun: ...

Liang Gongwei: ...

More reports followed.

—— The stock price fell as soon as it was listed, and the richest man in the mainland failed to get on the Hong Kong Stock Exchange.

—— MStar ushered in the sunset, and the TV chip field may face the biggest challenge.

—— MediaTek gave MStar and Fang Zhuo a big gift, and the main business backyard caught fire.