Chapter 626: Chapter 345: Recruiting Talent and Building a Team
Wu Dongyi’s heart began to waver; the blueprint Chen Cheng painted was simply too enticing.
And Chen Cheng could see the change in his expression, "In terms of salary, you won’t be at a loss."
He paused for a moment and held up five fingers, "Base salary of half a million a year, plus project bonuses calculated separately."
Hearing this figure, Wu Dongyi’s breath quickened a bit.
A 500,000 annual salary is almost the ceiling for investment research department managers in Beijing, and with project bonuses on top of that, the temptation was indeed too great.
"Da... No! Mr. Chen! I..."
Chen Cheng raised his hand to interrupt him, "But I have one condition."
"What condition?"
"You have to recruit for me."
Chen Cheng smiled, "The investment research department is currently just an empty framework, and I need you to use your network and abilities to build an elite team. I believe that with your professional vision and reputation in the industry, you can find like-minded and outstanding talents.
Furthermore, in terms of team building and management, you’ll have absolute authority; as long as it’s a decision beneficial to the department’s development, the call is yours."
Wu Dongyi was stunned for a moment, then understood Chen Cheng’s intention.
A 500,000 salary plus bonuses was indeed generous, but the responsibility was equally heavy.
Building a team means not only doing his own investment research work but also taking on the responsibility of managing and mentoring newcomers.
"Mr. Chen, you’re... completely empowering me."
He paused, "However, team building isn’t something that happens overnight; it might take some time."
Chen Cheng nodded in understanding, "I understand. Talent recruitment can’t be rushed; quality is far more important than speed. You can proceed at your own pace, and I will fully support you. In this process, whether it’s funds or other resources you need, just ask."
Wu Dongyi nodded deeply, feeling that not only was he given a chance for development, but also a generous reward. If he didn’t accept, he’d never encounter another such opportunity again.
He stood up and lifted his teacup, "Mr. Chen, don’t worry, the formation of Dili Investment Research is entrusted to me!"
Seeing this, Chen Cheng also stood up, clinking teacups with Wu Dongyi, "Great! Lao Wu, with your words, I’m confident. I believe you can lead the investment research team well, and together we’ll make a name for Dili Private Equity in the industry."
"Great!"
The two exchanged smiles, then Chen Cheng set his teacup down, "Oh, by the way, I’ve been evaluating two companies recently, both in the new energy sector."
He got to the main point, "Today I talked with Chuangneng first, it wasn’t bad. Help me conduct due diligence to see if this company is worth investing in."
After speaking, Chen Cheng gave Tong Jialu a glance.
Tong Jialu took out a USB from her bag and handed it over, and Chen Cheng continued, "The data is all in there. Take it back with you and have a look. Contact me anytime if you have any questions."
Wu Dongyi nodded solemnly, "Sure, I will study it carefully."
Chen Cheng then added, "There’s another company called ’New Energy Power.’ In a couple of days, I’ll arrange for you to meet with them as well. Do some due diligence, and then we’ll evaluate comprehensively to see which one aligns better with Dili’s investment strategy."
Upon hearing the company’s name, "New Energy Power?"
"Yes." Chen Cheng noticed the light in his eyes, "Have you had any contact?"
Wu Dongyi nodded, "Yintong has also been in contact with this company recently. They’re working on next-generation batteries using niobium and its compounds, right?"
"That’s right."
Wu Dongyi cleared his throat, presenting his allegiance pre-employment.
"New Energy Power specializes in niobate battery technology, which is a very promising next-generation battery technology. Compared to traditional lithium-ion batteries, niobate batteries offer higher safety, longer cycle life, and faster charging speeds."
Chen Cheng listened intently, and Wu Dongyi continued, "The core team at New Energy Power is very strong. Their chief scientist, Professor Zhang Qiming, is a well-known material science expert in the country, who has been deeply involved in the niobate battery field for many years and holds several core patent technologies.
I attended a domestic energy storage summit last year, where Professor Zhang also gave a keynote speech. His technical concepts and research results left a deep impression on me."
Wu Dongyi paused for a moment, taking a sip of tea, "However, New Energy Power is also facing some challenges.
Firstly, niobate battery technology is still in the pilot production stage, and there’s some distance to large-scale commercial production.
They need more capital investment to perfect production processes and expand capacity.
Secondly, the market’s awareness of niobate batteries is still low, requiring extensive market promotion and education efforts.
Lastly, although niobium resources currently rely heavily on imports, with the extraction and processing costs being relatively high as well, this is an important factor restricting the development of niobate batteries."
Chen Cheng hadn’t expected his luck to be quite good, to have learned so much useful information even before meeting with New Energy Power.
"I remember that HCG had invested in this company before, right?" he deliberately asked.
Wu Dongyi nodded, "HCG indeed invested, but in the latest round of financing, HCG’s attitude was quite ambiguous and didn’t make an explicit statement."
Chen Cheng furrowed his brow, recalling that Wen Shulin had expressed interest in New Energy Power. The reason for not making additional investments was perhaps related to HCG’s current financial state.
With CGG’s reorganization having significantly drained Wen Shulin, and the lack of support from the CGG headquarters post-divestiture, Wen Shulin had to cautiously handle subsequent investment strategies.
"How much is New Energy Power asking for this time?" Chen Cheng asked bluntly.
"780 million," Wu Dongyi said sincerely, "They plan to release 20% of their shares."
Chen Cheng quickly calculated in his mind, 20% shares corresponding to 780 million in financing meant New Energy Power’s valuation had reached 3.9 billion.
This valuation was already considered quite high among startups, also reflecting the market’s optimism about niobate battery technology.
"The valuation is a bit high."
Chen Cheng mused, "However, if their technology can really make a breakthrough, the potential for future development is still substantial." He looked at Wu Dongyi, "Lao Wu, what’s your understanding of New Energy Power’s management team?"
Wu Dongyi thought for a moment and said, "Besides Professor Zhang Qiming, the CEO of New Energy Power is Li Mingyuan. He used to be an executive at EP Power, and after he left, he started this company."
"There’s that connection?"
"Yes." Wu Dongyi pondered, "However, there’s one thing I can’t quite understand, and I haven’t found the connection either."
"What is it?"
Wu Dongyi lowered his voice, "It’s about Professor Zhang. He’s a big name in the academic field. EP Power primarily focuses on lithium batteries, so why did Li Mingyuan persuade Professor Zhang to join New Energy Power with the niobate technology after leaving EP Power?"
Chen Cheng also fell into deep thought; this was indeed an issue worth delving into.
Recalling further, Wu Dongyi added, "Moreover, I remember New Energy Power applied for an important government subsidy back then, but for some reason, this subsidy was ultimately not granted. I found it quite strange at the time because, given New Energy Power’s technical strength and development prospects, they should have had a good chance of obtaining this subsidy."
Chen Cheng keenly captured this information, "Do you know what subsidy it was? How much was the amount?"
Wu Dongyi said, "I’m not sure exactly what subsidy it was, only that it was related to the development of the new energy industry. As for the amount, I heard it was quite substantial, probably in the tens of millions."
Feeling a surge of interest, several million in government subsidies was not a trivial amount for a startup company.
If New Energy Power lost this subsidy for some reason, it could have a significant impact on their development.
"It seems this company is quite interesting." Chen Cheng smiled, "What’s Yintong’s take?"
"You know the size of Yintong, even if they want to dive into this, they’ll have to prepare the funding sources," Wu Dongyi replied, "They want to invest, but they need to find partners first."
Chen Cheng nodded repeatedly, "Alright, then keep an eye on it for me. Keep me posted."
"Yes! Once I get back, I’ll reach out to people we could potentially bring on board, and then see what their demands are."
Wu Dongyi continued, "Then we’ll organize a team to conduct due diligence on Chuangneng."
"You set it up, I trust you. Come, let’s eat."
Chen Cheng picked up his chopsticks, gesturing at the dishes on the table, "Try this steamed fish head with chopped chili, see if it’s authentic!"
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