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Jiang Fanxi saw from the agreement brought by Li Haiyan that they proposed to have "three times the liquidation priority that can be distributed and 10% annual dividend", and used many clauses to increase the voting rights of Horton as the major shareholder. Correspondingly, it greatly restricted Jiang Fanxi and Ren Xuanhan's control over the company.

The terms were thick and the English letters were dense. Jiang Fanxi looked at the pages so angry that he continued to read them all, and left them to Song Zinan for processing.

Although she didn't understand exactly what impact these terms combined would have on the company's equity situation and capital chain, just seeing the words "3 times distribution" and "10% annual dividend", she also knew that if the company is acquired in the future, Horton would take away most of the profits.

In the small conference room, Jiang Fanxi, Ren Xuanhan and Song Zinan had a secret talk.

Song Zinan studied the agreement in detail and calculated: "If the other party's terms are followed, the company will pay an annual dividend of 200 million yuan a year, which will be one billion yuan in five years, accounting for half of our five-year profit."

Jiang Fanxi asked: "Where is the priority distribution of 3 times liquidation?"

Song Zinan: "If the company is acquired one day, the other party will prioritize the allocation of 6 billion cash, and then participate in the implementation of the liquidation priority balance redistribution. As for how much it can be allocated in the end, it depends on the acquisition amount."

At this time, Jiang Fanxi still had a little luck in his heart. He glanced at Ren Xuanhan who was silent and said: "Ahan, we shouldn't be so bad, we're going to be so awkward until the day we were acquired, right?"

Ren Xuanhan was still silent.

Song Zinan reminded: "Mr. Jiang, the other party is making a big fuss about liquidation priority. It may be that when he intends to make a profit and leave, he will secretly use certain means to lead to our company being acquired."

When Jiang Fanxi heard this, he exploded and stood up: "What?"

She looked coldly at Lee Hae-yeon sitting in the big conference room opposite, slapped her hands on the table, and said excitedly: "So, Horton and the others don't really want to invest this time, nor do they want to make money on this project with us. Instead, they share dividends with our project and find opportunities to get our company acquired. How can they finally leave with billions of dollars at the end?"

Ren Xuanhan got up, patted her arm, and persuaded the person back: "This is their one-sided plan. We can not accept it, and there is no rush."

Jiang Fanxi suppressed his emotions and asked his most concerned question: "According to their terms, when will Mr. Ren and I be divided into one billion?"

She and Ren Xuanhan are still waiting to use the dividends here to build a research and development center and manufacturing factory for AI chips.

Song Zinan typing on the numeric keyboard after a moment, and said, "By the fifth year, you and Mr. Ren can get about 200 million dividends."

Jiang Fanxi: “…”

According to this situation, how many years does one billion have to wait?

She glanced at Ren Xuanhan and said, "I suspect that Jing Jizhi told Li Haiyan what he knew, and guessed what we planned to do, so she wanted us to not earn the funds needed for the new project within five years."

She said, sneering coldly: "In five years, maybe we'll all go to the fourth dimension, so we're just making a fuss."

Compared to her indignation and anxiety, Ren Xuanhan was much calmer: "Xiao Song, based on their agreement, we will draw a plan that is beneficial to us, and when will we talk to them."

After saying that, he signaled Jiang Fanxi to get up: "Go back to the conference room and don't delay Xiao Song's work."

Jiang Fanxi sighed and stood up dejectedly. Just as she was about to leave, Song Zinan suddenly called out: "Mr. Jiang, General Ren."

Both of them looked back at the same time.

Song Zinan said: "In the equity transfer clause, the other party also requires that the consideration must be paid according to the original amount of funds to be paid."

Jiang Fanxi frowned: "What does it mean?"

Song Zinan explained: "For example, after the A round, your investment is 47 million yuan and the share ratio is 26.11%. If you want to sell all the shares you have in hand, you can only sell them with your investment of 47 million yuan. As the company's largest shareholder, Horton has the right to purchase your equity first."

Jiang Fanxi looked at Ren Xuanhan, with no hope in his eyes.

The solutions she thought of and the countermeasures that Tang Yi had for her were blocked by Li Haiyan's agreement.

She sighed, said "Let's go", and opened the door first.

Before returning to the conference room to meet Lee Hae-yeon, the two of them talked in the office for a while.

Jiang Fanxi was more anxious than before, and his hands were twisted again: "They must have guessed that we were going to use the FX to develop chips, and were willing to invest 2 billion, but they used various harsh terms to control the funds we obtained from FX to support the R&D chip project. What should we do now? The road is blocked!"

Ren Xuanhan was silent for a few seconds and calmly said, "Don't be anxious. Or we will find the chip investors again at that time."

Jiang Fanxi had no confidence: "It took a year and a half for the robot to go from the angel round to the a round, and it only raised more than 100 million yuan in the a round. The chip project requires one billion yuan, and this is a project that races against time. Now the economic environment is so bad. Who is willing to invest one billion yuan in a short period of time?"

She had no choice but to remember the billion-dollar mansion she saw on the Huangpu River in Shanghai, and said depressedly: "I would be a rich second-generation in Shanghai. If you sell a few houses on the Huangpu River, you will have a billion immediately."

Ren Xuanhan smiled: "If it really doesn't work, we will contribute all the research results and data to the country and let it continue in the form of national projects."

Jiang Fanxi nodded: "In the end, there is no way to do this. It's better than being controlled by Horton, who is an American company."

Ren Xuanhan patted her arm: "Okay, don't worry, what a big deal? Xiao Song's plan is ready, so let's make it clear to Li Haiyan. If she is not happy, we won't cooperate with Horton."

"good."

The partner's understanding and comfort eliminated a lot of anxiety in Jiang Fanxi's heart. She smiled again and returned to the conference room.

Li Haiyan's two assistants were each with a laptop. They were typing on the keyboard at this time, while Li Haiyan was standing by the window talking on the phone.

When Jiang Fanxi went in, he heard her asking the person on the other end of the phone: "Do you want to have dinner together at noon? I am in Zhongguancun, and it should not be far from you."

The person who told her that the phone call should have refused, so she asked again: "What about that night? The market will open at half past ten. Let's have a meal together. It's still time for you to go back."

Jiang Fanxi felt that she should be talking to the opposite sex on the phone, her voice was gentle and pleading, and she looked a little humble, which was very different from her stern and cold look at work.

The other party seemed to be a Beijinger, because she neither spoke English nor Korean, but spoke Mandarin. Moreover, this Mandarin is not a Northeast accent, nor is it accent from other provinces, but it is a Beijing accent.

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