Chapter 378 Take action

Chapter 378 Take action

Chapter 378 Take action
At ten o'clock in the morning on August 8, Yu Xing received Jiang Haomin and his team from Baosteel's Automotive Steel Research Institute in Lingang.

Jiang Haomin is the director of the research institute. He is mainly responsible for the material development and process optimization of automotive steel. He has visited and inspected many automobile companies' factories because of his work. However, he was a little surprised when he came to Carbon Silicon Group to see the clues of the new energy project docking.

The concept and demonstration of integrated die-casting are quite interesting.

Well, it’s very interesting that Volvo’s safety boss Thomas also approves it.

Jiang Haomin was very interested in the development and application of this new technology, and then he was curious about how it would be implemented. A die-casting machine alone would not be enough, and it would inevitably require breakthroughs in materials, which was not such a simple matter.

"We found Professor Ding Wenjiang and Professor Peng Liming from Jiaotong University to set up a laboratory to see if we can come up with the solution we want. If not, even if Lijin Group can improve the die-casting machine to the theoretical level, it still needs to be shelved." Yu Xing smiled after a brief introduction, "But the worst case scenario is to still use the solution commonly used in the industry, which is also acceptable."

Jiang Haomin nodded. These two were well-known alloy material experts in the industry.

He took a sip of tea and said with a smile, "I heard that Director Ding will be elected as an academician of the Academy of Engineering next year."

Jiang Haomin did not call him a professor because Ding Wenjiang was also the director of the National Engineering Research Center for Light Alloy Precision Forming.

"I've heard about this, too. I hope I can call him Academician Ding when we meet next year." Yu Xing said with a smile, "Professor Ding is from Shaoxing, Zhejiang Province. He has confidence in the high-strength and high-ductility aluminum alloy we need."

Jiang Haomin didn’t know whether Carbon Silicon Group could put this plan into mass production, but at least the person they found was reliable.

A group of people started chatting about the material issue.

This was not the first time Yu Xing met Jiang Haomin. He had talked with him before the Carbon Silicon Group was officially launched when he was investigating the domestic supply chain. At that time, he knew that Baosteel had already mass-produced 980MPa high-strength steel, and he used this situation as a sign of confidence at the supplier conference.

A good cook cannot cook without rice. Without the progress and development of the supply chain, it will undoubtedly be difficult to create mid-to-high-end car models.

Similar to high-strength steel and millimeter-wave radar, foreign suppliers of this type of technology have a tacit understanding and will not supply products to domestic automobile manufacturers. They will only loosen up after their own companies have made breakthroughs.

Baosteel's production line in Shanghai will be officially put into operation in December this year, and the industrial production of 12Mpa hot-formed steel will be realized next year. The performance can be comparable to the products of ArcelorMittal, the world's top brand.

Yu Xing praised Jiang Haomin for breaking the foreign monopoly, and Jiang Haomin also smiled and said he deserved such praise.

However, Jiang Haomin came here not only to see Carbon Silicon Group and Mr. Yu, with whom he had been in contact, but also for a serious matter: "Mr. Yu, we are currently developing non-ablative laser welding technology for high-strength steel and low-strength hot-formed silicon materials. We can weld steel plates of different thicknesses and strengths into one piece, which can ensure strength and is estimated to achieve a weight reduction of about 15%. We can make a package plan in this regard."

Yu Xing blinked. "'Working on it'? That means it hasn't come out yet. Why are you in such a hurry now? Let's wait until the technology comes out and we can verify it and then talk about it."

"Let's find customers first, Mr. Yu. You're the first person I thought of." Jiang Haomin enthusiastically promoted, "Those old factories and old brands are bound by old technologies. Carbon Silicon Group will have to use new technologies first. If you give me an intention, I can help you get the best solution when I go back."

Yu Xing did not comment. Carbon Silicon Group has confirmed that it will cooperate with Baosteel and purchase its high-strength steel. 1500Mpa is the world's first-class level. It can be confirmed to be put into production and will be verified on the joint venture brand in Shanghai first. However, the new welding process must be used with caution.

He listened to Jiang Haomin's introduction for a while, then said with a smile: "We signed a long-term supply agreement with Baosteel, so you should provide welding technology including equipment commissioning services for free. Why are you still thinking of charging me more money?"

Jiang Haomin thought about it and said seriously: "Boss Yu, in theory, this is not impossible, but it requires that the annual purchase volume reaches a certain number. For example, if you buy 5 tons next year, I can guarantee that I will provide free service now."

Yu Xing picked up the teacup and drank the tea slowly. After a moment, he smiled and said, "You are just talking nonsense. It will be great if we can buy 10,000 tons in two years. Director Jiang, go back and ask for a few more plans. Let's see which one is the most suitable."

Jiang Haomin was distracted. If Carbon Silicon Group could digest 150 tons, and based on the assumption that a car uses about 6.7 kg, that would mean an annual sales volume of vehicles, which was indeed a bold idea.

The cooperation plan with the car manufacturer that was being discussed internally flashed through his mind, and before he could say anything, there was a knock on the office door.

"Mr. Hu, what's wrong?" Yu Xing asked Hu Zhengnan, who had a strange look on his face.

Hu Zhengnan nodded to the Baosteel staff and shared the latest news: "Guo Shanfeng published a short-selling report on Mitsubishi engine energy efficiency and fuel consumption fraud! Mitsubishi has a scandal!"

Jiang Haomin was shocked: "Mitsubishi? Falsifying energy efficiency and fuel consumption?!"

Yu Xing was also shocked: "Ah? Is this true?"

Hu Zhengnan knew that his boss would be interested in this kind of thing about Mitsubishi, and he said seriously: "I have roughly read Shanfeng's report. The data is quite detailed. It is said that it has been cross-validated by tests of different institutions. At least 10% of the labels are false. Moreover, judging from the engine models currently locked, this fraudulent behavior has lasted for at least 20 years!!!"

Jiang Haomin murmured in astonishment: "20 years... this..."

Yu Xing frowned: "Guo Shanfeng is really bad. It's not easy for them to fake it for 20 years."

Jiang Haomin and Hu Zhengnan couldn't help but look at Mr. Yu.

"Why are you looking at me?" Yu Xing said seriously, "It's really bad. Mitsubishi's fraud is definitely wrong. Short sellers like Guo Shanfeng desperately short various companies for their own interests. How good can it be?"

This always sounds a bit awkward.

Jiang Haomin said tactfully: "It seems that all the companies that Guoshanfeng has shorted now have confirmed that there is indeed a scam."

Yu Xing shook his head and did not continue to comment, but his expression showed his contempt for short sellers like Guo Shanfeng.

"20 years of fraud, this is really a big scandal." Hu Zhengnan returned to the topic of the latest incident, "It's not just one or two years, Guo Shanfeng is really good at it. He directly analyzed how Mitsubishi cheated. There are differences in the testing methods of Japan and the United States. In Japan, car companies report their own data, while the United States conducts random inspections. Mitsubishi applied the fuel consumption under the US standard to Japan, but there is a deviation between the US standard and the actual fuel consumption under Japanese road conditions."

Although no organization can replicate the test so quickly, Guoshanfeng has past achievements to provide credibility endorsement, and secondly, this research report points out everything from engine models to Mitsubishi's use of different standards.

Mitsubishi doesn't just sell one or two cars. A little testing will reveal the specific situation.

Hu Zhengnan is now extremely inclined to cross the mountain and he is right this time.

Jiang Haomin was amazed and suddenly said, "Mitsubishi has such a scandal, so its stock price will plummet."

Hu Zhengnan nodded: "Just a moment ago, 7 points have been lost, which means hundreds of millions of dollars have been lost."

Jiang Haomin laughed and said, "It's still easy for these short sellers to make money. Guo Shanfeng will make a lot of money with this move."

Yu Xing lit a cigarette and shook his head, "It's not that easy. The Japanese financial market is different. They allow short selling of stocks, but there is a very strict rule for reporting increases. Selling is only allowed when the stock price rises, in order to prevent panic selling in the market."

Reporting rules?

This was the first time Hu Zhengnan and Jiang Haomin had heard of such a rule. They had not expected that Mr. Yu actually knew about this. They looked at him in surprise. Jiang Haomin said in surprise, "Mr. Yu, do you know this?"

"Hmm... this doesn't mean you understand. Haven't you heard of it?" Yu Xing thought.

Hu Zhengnan and Jiang Haomin shook their heads at the same time and said, "Never heard of it, never heard of it."

Yu Xing smiled and said, "I remembered that I heard about Shanfeng's short selling last time. However, I was wondering why I didn't hear much about any short selling incidents in the Japanese market. So, I asked someone and was told that the situation was different."

The situation this time is indeed different. In addition to the reporting rules that exist in the Japanese stock market, the margin for short selling there is 3 to 4 times that of the U.S. market. In addition, institutional positions exceeding 0.5% of the outstanding shares must be disclosed immediately.

In addition, cross-holdings are common among Japanese companies. Mitsubishi currently has only 45% of its shares in circulation, 30% of which are held by institutions for a long time. No more than 15% can actually be used for short selling.

Because of the difficulties and risks of short selling this time, Liu Wanying flew to Hong Kong five days in advance.

Yu Xing listened to her careful analysis of the short-selling situation. In order to deal with the institutional and regulatory risks, he reserved US$6000 million in principal as a response.

Hu Zhengnan understood what his boss said and said hesitantly, "So, U.S. stocks with higher liquidity are more likely to be shorted."

Yu Xing nodded and said, "You are very insightful. I will be transferred to the mountain peak tomorrow."

"Mitsubishi, tsk, its chairman must bow and resign this time. Twenty years of fraud... This must be a major blow to its brand and reputation." Jiang Haomin didn't care about the short selling situation. He just felt that this long-term fraud was quite outrageous.

Hu Zhengnan suddenly thought of the feud between Mitsubishi and his boss, and asked, "Boss Yu, aren't you going to have someone test the safety of your cars in a couple of days? Are you going to test Mitsubishi this time?"

Yu Xing pondered.

Seeing that his boss seemed to be trying to soften his heart, Hu Zhengnan immediately expressed his inclination: "Boss Yu, Mitsubishi mocked you on Weibo a few days ago. I asked you to correct your mistakes if you have any, and encourage yourself if you don't."

Yu Xing sighed: "Garlic bird, garlic bird, I don't care about it anymore."

Hu Zhengnan felt a little regretful: "Boss Yu, if you fall into the water, you have to beat him up."

"No more testing. I'll go back and line up a row of cars. Test all the other cars, and leave the Mitsubishi alone." Yu Xing made the decision. "Then I'll let it correct its faults in the camera, and improve its performance if there are any."

Hu Zhengnan suddenly felt that he had been thinking in the wrong direction. The boss was not soft-hearted, but he was more skilled in being sarcastic. This made sense. What if Mitsubishi's car was tested to be excellent? He would actually help promote it.

Jiang Haomin was in the industry, so he had naturally heard about the recent incidents involving Mr. Yu. Hearing this, he asked, "Mr. Yu, how do you do this test?"

"The United States has a new standard, which has not been implemented in China yet, so I will follow it to avoid being accused of making up my own standard." Yu Xing did not hide anything, "According to some of the models that have been released there, their A-pillars have not stood up to the test. For example, the A-pillars of the Mercedes-Benz C-Class were severely deformed in an offset collision. They probably haven't used 1500Mpa high-strength steel yet, right?"

1500Mpa high-strength steel is now first-class in the industry, but not all first-class car companies use it, and the latest test from the US IIHS can reflect this.

Jiang Haomin thought about it carefully and said, "The A-pillar of the Mercedes-Benz C-Class should be 1200Mpa. However, this kind of collision depends on both the material strength and the structural optimization."

Yu Xing nodded: "Yes, we are just learning from it. In the future, our cars will also be tested according to such standards. Mitsubishi is right. We will correct our mistakes if there are any, and encourage ourselves if there are none."

Jiang Haomin felt that Mr. Yu had some bad intentions, but how bad were they... He was just like Guo Shanfeng. Mitsubishi's scam must have deserved to be exposed, but Guo Shanfeng was also shorting it for its own benefit.

Mr. Yu was criticized by people in the circle this time. If someone's car model is not safe enough, it must be a defect in the design and materials of the car model, but Mr. Yu also acted out of his own standpoint and interests.

Jiang Haomin didn't think it was a big deal. There were a lot of messy things in the car industry. Baosteel would benefit from what Mr. Yu did. Well, potential users might also benefit. It's just that it would easily offend car companies.

However, car companies are competitors, and high-strength steel is also blocked...

Jiang Haomin still subconsciously advised: "Mr. Yu, it's easy to be attacked."

Yu Xing said with a smile: "The testing standards are new, and the industry direction is also new. They are all vulnerable to attack. We speak with facts."

Jiang Haomin nodded: "Well, Mr. Yu, then you can test it for a few more periods. I am also curious about how different models of cars will perform."

The previous advice is the nature of a good person, and the subsequent requirements are based on one's own position.

Yu Xing agreed: "I'll test as many times as I can, and make friends through cars."

All the car models for making friends through cars have been selected, including references to the August tests in the United States and popular domestic models.

However, it is still more popular to make friends through research reports.

Regarding Mitsubishi, a well-known Japanese automobile company, in addition to the media in the automobile industry, financial media and portals have all shown respect and extracted Shanfeng's short-selling evidence and arguments as soon as possible.

Guo Shanfeng did not short Chinese stocks listed in the US, but shorted Japanese automakers, so it is a... fairly acceptable short position.

Just like Hu Zhengnan and others, faced with Guo Shanfeng's detailed data and past winning record, almost everyone immediately believed that Mitsubishi had falsified the data.

Because of the recent disputes with Mitsubishi and other car companies, many people on Weibo @虞兴 came out to mock Mitsubishi whose scam was exposed.

However, Yu Xing did not immediately take advantage of the situation. His main attention was on how hard Guo Shanfeng's stab was.

As it turned out, the rules and unique circumstances of the Japanese financial market still limited the sharp edge of the mountain. Mitsubishi's first-day drop was only 17%, and its market value evaporated by US$15 billion.

"Only 15 billion US dollars..." Yu Xing was not very satisfied after the Tokyo stock market closed.

Secretary Zhang Yangxu, who came to hand over documents in the office, happened to hear what his boss said and couldn't help but say, "Boss Yu, you mean Mitsubishi, right? That's more than 100 billion Chinese yuan missing..."

Yu Xing nodded slightly. He had to catch the big guy. If it dropped these, it would be half of the little guy's wealth.

So, hello, everyone, how do you fake it?
Yu Xing had Mitsubishi's blood on his hands, but he was thinking about Volkswagen's throat.

(End of this chapter)