At 11 a.m., Chen Cheng and Tong Jialu arrived at the headquarters of Chuang Neng Battery located in the Technology Park.
Though the company building is not as grand as HCG’s, with only three floors, it still appears very modern. The glass curtain walls reflect the sunlight, giving a lively and vibrant feeling.
Chen Cheng specifically bought a new dark blue suit, looking calm and composed.
As for Tong Jialu, she dressed in Chanel, which perfectly accentuated her beautiful figure while maintaining a professional deanor.
The two walked side by side into the building, imdiately catching the attention of the reception staff.
"Hello, do you have an appointnt?" the receptionist politely asked.
"We’re from Dili Private Equity," Tong Jialu introduced herself, "We have an appointnt with your Mr. Wang at 11 o’clock."
"Alright, please hold on for a mont."
After confirming the appointnt, the receptionist promptly contacted Mr. Wang’s secretary, "Secretary Zhang, Mr. Chen from Dili has arrived."
Soon, a young woman ca out of the elevator, enthusiastically greeting Chen Cheng and Tong Jialu.
"Mr. Chen, Miss Tong, hello! I’m Secretary Zhang for Mr. Wang," she said with a smile, "Mr. Wang is waiting for you in the eting room, please follow ."
Chen Cheng nodded, following Secretary Zhang’s steps, accompanied by Tong Jialu, beginning the first true business deal for Dili Private Equity.
Secretary Zhang led the two to a small eting room, where Wang Tenghui from Chuang Neng was already waiting.
He was a slightly overweight middle-aged man, appearing to be in his early forties.
Upon seeing Chen Cheng, he warmly approached, "Mr. Chen, welco, welco! I’ve heard so much about you!"
"You’re too kind, Mr. Wang," Chen Cheng responded, shaking the firm hand, "We are here because of your reputation."
After both parties were seated, Wang Tenghui began, "Chairman Wen of HCG called yesterday. As soon as I got the call, I realized that this cooperation is surely not simple."
"Chairman Wen speaks highly of you, Mr. Chen, saying you have a keen eye in the investnt field and act decisively," he continued. "I quickly looked you up online, and wow, you’re the Mr. Chen who initiated the Beijing Reputation Alliance!"
Chen Cheng humbly smiled, "Mr. Wang, you’re too generous."
"We truly believe your company’s achievents in battery technology developnt are remarkable. Dili sees a bright future for Chuang Neng Battery, and we’d like to explore the possibility of collaboration," he said.
Wang Tenghui nodded confidently,
"Indeed, we’ve invested a lot of effort and resources in battery technology developnt and have achieved several key technological breakthroughs."
"Take our latest developed new energy battery for example, its energy density is 4.3% higher than similar products on the market, and the charging speed has significantly improved, saving one-seventh of the ti to fully charge a battery of the sa capacity."
As he was speaking, detailed PPTs appeared on the projection screen in the eting room, and Wang Tenghui picked up a laser pointer, pointing at the chart on the screen,
"Mr. Chen, look, these are the performance paraters of our newly developed solid-state battery."
"Its energy density reaches 350Wh/kg, its cycle life exceeds 3000 tis, and its safety is extrely high, with no explosion or combustion even under extre conditions like high temperature or puncture."
He paused and continued, "Currently, mainstream liquid lithium-ion batteries on the market generally have energy densities between 250-300Wh/kg, with cycle lives of only 1000-2000 tis. Comparatively, our solid-state battery has obvious performance advantages."
This was clearly beyond Chen Cheng’s knowledge scope, but he didn’t panic, silently listening.
Seeing Chen Cheng remaining silent, Wang Tenghui said, "Of course, cost control has always been a focus for us."
"Although the manufacturing cost of solid-state batteries is relatively high at the mont, with technological maturity and large-scale production, costs will gradually decrease."
"We estimate that in the next two to three years, our solid-state battery costs will drop to a level comparable to current high-performance liquid lithium-ion batteries."
He switched to the next slide, showing the production line and capacity situation of Chuang Neng Battery.
"Currently, we’ve built two solid-state battery production lines with an annual capacity of 1GWh. We plan to build four more production lines in the next three years, increasing the annual capacity to 5GWh."
Chen Cheng could see that Wang Tenghui was full of confidence in his company and technology, which might be the reason why HCG invested previously.
He raised his hand to interrupt the detailed technical introduction, saying, "Mr. Wang, in terms of technology, we’ll have a professional team for evaluation."
With a smile, Chen Cheng said, "Dili is more focused on relevant information in economic interests."
Wang Tenghui quickly realized what Chen Cheng wanted to see.
He gave a glance to the secretary, and Secretary Zhang handed Chen Cheng a bound docunt, with "Chuang Neng Battery’s Financial Statents for the Last Three Years" printed on the cover.
Chen Cheng nodded, flipping open the docunt.
Wang Tenghui continued introducing, "Our company’s revenues over the past three years were 150 million, 280 million, and 450 million, showing a rapid growth trend."
Chen Cheng’s gaze quickly scanned, "However, the net profits were -20 million, -10 million, and 10 million, respectively."
Having previously received an explanation from Wen Shulin, he understood that although the latest year had achieved profitability, the losses from the prior two years indicated the company was still in the investnt phase, with profitability yet to be observed.
"So, this makes the gross profit margins 15%, 18%, and 22%, respectively?" he looked at Wang Tenghui.
Wang Tenghui nodded in acknowledgnt.
Chen Cheng looked further, noting the total assets had grown from 100 million to 300 million, primarily driven by investnts in fixed assets, reflecting the company’s efforts in expanding capacity.
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