I See through Everything

Chapter 253: Chapter 138: Dead End

His son, Jin Haorui, could scrape together 50 million US Dollars.

This 400 million US Dollar hole could then be filled.

If he didn’t do this, his position as president would definitely be unstable.

Although Jin Yuanji held 34% of the shares, his father, when he was alive, had designated another 36% as collective family stock. This portion belonged jointly to the four branches of the Jin Clan, as well as his two daughters and their husbands, though the ownership proportions varied.

The voting direction for that entire 36% block of family stock could be decided through an internal vote.

In other words, although Jin Yuanji’s branch owned 6% of the family shares, it was essentially meaningless. As long as the other three branches, plus one of his sisters, combined their shares, they could reach 24%. This was more than half of the 36%, allowing them to represent the entire 36% block of stock in a collective vote.

This was also to prevent the heir, Jin Yuanji and his immediate family, from infringing on the interests of other family members.

Now that he had made a disastrous decision, he would have to pay the price. Otherwise, the other members of the family would immediately band together and have him removed.

Jin Haorui felt the same way.

If his father lost the position of president, then he, the heir, would also be in for a world of trouble.

The moment Jin Yuanji thought about how over three hundred million US Dollars in assets, earned through decades of hard work, were about to be reduced by eighty percent, he couldn’t help but feel his heart bleed.

At this thought, his heart hardened. "Dachang."

"Yes, President. Your orders?" Park Dachang quickly stood up.

Jin Yuanji clenched his fists. "Go and reassure Dr. Han Yingze and the others. We are going to continue investing funds to develop the artificial production technology for eel fry."

"But...?" Park Dachang looked at Jin Yuanji, confused.

"I can’t swallow this insult. I refuse to believe we can’t figure it out," Jin Yuanji said, his face a mask of indignation.

"I understand." Park Dachang knew Jin Yuanji was acting out of spite, but there was nothing to be done. The man was the president. Besides, if he put himself in Jin Yuanji’s shoes, he would probably be just as indignant.

As Jin Yuanji and Jin Haorui bowed in apology and took full responsibility for the damages, the internal crisis at West Yuan Group was temporarily suppressed.

But Jin Yuanji hadn’t forgotten about the external crisis.

He quickly ordered Jin Haorui to act as the fully authorized representative of West Yuan Group, cancel the orders with the clients they had previously signed contracts with, and compensate them with a 30% penalty for breach of contract.

Otherwise, once the clients realized what had happened and both parties ended up in court, it would be a fatal blow to West Yuan Group’s corporate reputation.

What’s more, a large portion of these clients were long-standing customers of West Yuan Group in Europe and America. If they failed to compensate them, they could forget about doing business in the future.

「In less than a week.」

Brown Company, which had long ago arranged for people to deliberately entrap West Yuan Group, received 75 million US Dollars in compensation through dozens of shell companies scattered across Europe and America.

According to a secret agreement between Brown Company, Hailufeng Company, and Rokkaido Eel Company, the three companies would split the 75 million US Dollars, with each receiving 25 million.

What a good guy!

Brown, the CEO of Brown Company, called West Yuan Group "a true saint" for instantly covering more than half of the 30 million US Dollar fee they had previously paid Hailufeng Company for the technology.

An idea even began to form in the mind of Watanabe Junichi, president of Rokkaido Eel Company: could they replicate this method and swindle a few more unlucky fools?

After all, scamming 25 million US Dollars at a time... a few more of those, and it would be more than their company’s entire annual net profit.

Fortunately, they were all still rational. You could pull something like this once or twice, but not a third time.

West Sea Company, Anye Company, and West Yuan Group had already fallen one after another at the hands of Hailufeng Company. In the future, other companies would likely not be so easily hooked by technology leaking from Hailufeng Company.

And as West Yuan Group continued to compensate its clients in Europe and America throughout the week, the matter was quickly exposed to the public.

Many industry insiders, both at home and abroad, only then learned that South Korea’s West Yuan Group had taken a massive tumble over eel fry. Some estimated that West Yuan Group had lost at least two to three hundred million US Dollars.

The incident also quickly spread across the Chinese internet.

On the Yinfu Platform.

Over the past week, various bloggers had been making all sorts of speculations about Hailufeng Company’s two recent announcements.

It wasn’t until news from foreign websites came in that the comment sections under the videos of a few bloggers who had partially guessed the situation instantly blew up.

Silent Fish: [The blogger’s a prophet!]

Three Blind Mice: [Looks like the blogger called it. South Korea’s West Yuan Group imploded, hahaha.]

Aluminum Alloy Ant Nest: [Hailufeng Company is terrifying! First Ryukyu West Sea Company, now South Korea’s West Yuan Company. It’s like one strike, one kill.]

All Things Chemistry: [They stole another company’s secret formula. They deserved to die!]

Big Thunder General Manager Zhang: [According to reliable sources, West Yuan Group might have lost 400 million US Dollars. This is so satisfying. People who like to steal things deserve to be hit with a big stick.]

Observation Animal Net: [So this is corporate warfare? I thought high-level business battles were all simple, unadorned stuff like watering each other’s money trees. I never expected such a high-level play.]

Intangible Heritage Inheritor of Dirt Airplanes: [@Observation Animal Net, I can tell you’re a noob at a glance. This is low-level corporate warfare. I’m the real old-school craftsman. Venmo me 50, and I’ll show you what a real ’dirt airplane’ is.]

Nongfu’s Three Punches Are a Bit Salty: [I bet no one will dare to steal tech from Hailufeng Company anymore. One attempt requires the sacrifice of an entire company.]

Kekexili Wolf Culture Media Co., Ltd.: [Lying flat, eating melon. Feels good.]

Although the buzz around this incident once shot into the top five on all major platforms, neither Hailufeng Company nor West Yuan Group came forward with a response.

Even though industry insiders all knew that West Yuan Group had most likely fallen into a trap set by Hailufeng Company, no one had any proof.

What’s more, considering the cause and effect of the whole incident, it was highly probable that West Yuan Group had been the one to proactively steal Hailufeng Company’s technology. That being the case, when West Yuan Group suffered huge losses as a result, others would only say one thing:

They got what they deserved.

Only those insecure yet arrogant Koreans would believe West Yuan Group was innocent.

Everyone else either chose to happily eat melon, stood up for Hailufeng Company, or directly heaped scorn and sarcasm on West Yuan Group.

Of course, this was the internet! There were always some weirdos who had forgotten their roots, contributing to the world’s human diversity.

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