Chapter 782: Chapter 502: Initiating Trouble (Part 2)

The other shareholders and executives had varying expressions.

Once everyone was present, Liu Guangxin cleared his throat and said, "Everyone, today’s emergency board meeting was requested by President Zhou and President Li. The main topic is the further investment and development plan for the New Source Power project."

"Recently, there have been differing opinions within the group regarding the investment in New Source Power. I’ve invited everyone here today to have an open discussion and align our thoughts."

As soon as he finished speaking, Zhou Bin couldn’t wait to speak: "Everyone, I have a few things to say about the New Source Power project."

"From the project’s inception to now, the invested funds have reached astronomical figures, far exceeding our initial plans, severely encroaching on the resources of other group businesses, leading to the current tight financial situation of the group."

"And the returns? Nowhere in sight!"

"The competition in the electric vehicle market is fierce, as everyone knows. Due to the new regulations on new energy vehicle purchase taxes this year, the profits of major automakers are declining. Giants like Tesla and BYD are engaging in price wars. How can a new brand like ours compete?"

"Relying solely on a slightly advanced battery technology? I think it’s unrealistic."

"Personally, I suggest immediately suspending the funding for the New Source Power project..."

He became more agitated as he spoke, saliva flying everywhere.

Just as he finished, Li Maocai immediately chimed in: "I completely agree with President Zhou’s perspective. When we initially launched the New Source Power project, we somewhat overestimated our capabilities."

"Even with Maple Capital’s investment, the financial pressure remains high. Correcting course in time is still possible, and this is also being responsible to the group and the shareholders..."

His tone was equally earnest, as if he genuinely had the company’s and everyone’s best interests in mind.

The two of them echoed each other’s sentiments, seemingly forgetting how they were the staunch supporters of this project at first.

Faced with their open opposition, Liu Guangxin remained expressionless. After they finished, he scanned the room and slowly said, "I understand the concerns of President Zhou and President Li. Indeed, the group has been under significant pressure recently."

"However, any new project carries risks and requires investment. The new energy vehicle is the inevitable trend of the future automotive industry, with vast market potential. Although we’re still in the early stages, our advantage is something others don’t have."

"Dawn Technology’s battery technology gives us a lead of at least two to three years in core technology over our competitors, which is our trump card for future market competition!"

"I believe the group’s development direction is correct, and the pressure is only temporary. Once the next round of funds from Maple Capital comes in, the situation will quickly be alleviated..."

Liu Guangxin spoke with ease and confidence because this was the truth.

He wasn’t saying this for Zhou Bin and Li Maocai, but for the others to hear.

The conference room was silent for a moment, and some previously frowning shareholders had varied expressions.

At least, Liu Guangxin’s words sounded reassuring.

But Zhou Bin clearly didn’t intend to let him off easily.

He snorted, leaned back in his chair, and adopted an indifferent posture: "Chairman Liu, everyone understands the big picture, but how long can our so-called trump card battery technology really lead the competition?"

"I’ve heard that Ningde’s new battery research is nearing completion. If our cars aren’t out of the production line by then, and their new products launch, what advantages will we have left?"

His words sounded objective, but the issue was that this so-called news was likely fabricated by himself...

"Even if, by some miraculous reason, our technology maintains its lead, will the market give us time? Production, testing, launch, distribution channels... don’t all these steps require time?"

"By the time we methodically complete all these steps, we might not even get a taste of the hot soup..."

"In conclusion, my suggestion is to immediately suspend the New Source Power project! Let’s refocus our efforts back on our energy sector!"

"I fully support President Zhou’s suggestion!" Li Maocai immediately echoed loudly and was the first to raise his hand, "For Guanghui’s future, we must make this difficult but correct decision!"

Zhou Bin and Li Maocai were aggressive, not even bothering to put on an act anymore. 𝓯𝙧𝓮𝓮𝒘𝓮𝙗𝙣𝒐𝒗𝒆𝓵.𝓬𝓸𝒎

The atmosphere in the conference room suddenly reached a peak of tension.

Liu Guangxin calmly picked up his thermos, took a couple of sips, and then looked at the most aggressive Zhou Bin, calmly saying, "What if I insist on continuing to push the New Source Power project?"

Zhou Bin’s face darkened, and his tone was firm: "Chairman Liu! You’re disregarding the group’s interests! If the majority of the board members believe it should be paused, what use is your insistence? Are you going to run a one-man show?"

He glanced at the few shareholders he had already managed to sway, the implication clear.

Li Maocai immediately chimed in: "Yes, Chairman Liu, decisions need to be democratic and respect the majority opinion. Forcing the project forward will only plunge the group into a deeper crisis!"

Liu Guangxin didn’t respond to them; instead, he calmly swept his gaze over the other directors and executives present, speaking seriously: "I understand everyone’s concerns and respect differing opinions."

"However, as the chairman of the group, I bear the ultimate responsibility for Guanghui’s future."

"New energy vehicles are the market’s direction. With our core technology, abandoning it would be like handing over the future, so there will be no change in the New Source Power project!"

Zhou Bin, hearing this, immediately stood up and sneered: "Yeah, right, you’re the chairman of Guanghui Group, but you also have to abide by the company’s charter!"

"Since there’s a difference of opinion, let’s follow the rules! I propose a board vote on whether to suspend the New Source Power project!"

As soon as he finished speaking, Li Maocai immediately raised his hand to second: "I agree to vote now!"

However, besides the two of them, no one else in the conference room raised a hand.

Even the shareholders Zhou Bin and Li Maocai had previously rallied all hung their heads, as if they hadn’t heard anything.

Zhou Bin was instantly stupefied, his mocking smile frozen in place.

He looked around at those familiar faces, urging in a low voice: "Old Wang? Old Chen? You guys..."

Li Maocai was also flustered. He looked at Zhou Bin, then at the allies pretending to be deaf, and a bad feeling grew in his heart.

Liu Guangxin put down his thermos with a slight crisp sound, breaking the suffocating silence.

"It seems your opinions don’t represent the majority."

Zhou Bin suddenly turned his head to glare at Liu Guangxin, realizing something.

Though he was enraged inside, having already taken this step meant there was no turning back.

"Good move!"

"Fine, since we’re on different paths, there’s nothing more to say. I’m going to sell my shares!"

Liu Guangxin nodded indifferently: "Of course you can, that’s your freedom. But according to the company’s charter, existing shareholders have the right of first refusal."

"Heh."

Zhou Bin sneered again, "Do you have enough money for that? Don’t think I don’t know; you enlisted Maple Capital to help gather funds, but it’ll take them three to four days to mobilize from overseas, won’t it?"

"If you can’t come up with the money, then sorry, I’m signing the agreement with someone else tomorrow."

With that, he turned to look at Li Maocai beside him, signaling for him to follow suit.

Li Maocai got the hint, placing both hands on the armrests, ready to stand and declare his stance.

Just then.

The conference room door was suddenly pushed open.

Immediately, a tall figure in a black suit strode in.

Instantly, all eyes in the conference room focused on him.

It was Qi Yun.

With a calm expression, he glanced around and offered a polite smile to everyone: "Sorry, everyone, I’m late."