JB – Chapter 334: Company Changes Ownership

Wang Cheng’s love life and career both reached a perfect high point, while good news also arrived on Wang Ning’an’s side. Three days later, the shareholders’ meeting was held as scheduled.

Compared to the previous shareholders’ meeting, several unfamiliar faces appeared this time. The company employees and shareholders were all surprised to see Wang Ning’an there. They had not known that Wang Ning’an also owned a considerable amount of Shenghui’s shares. Only later did they learn that it was he who had proposed this shareholders’ meeting.

Back when Wang Ning’an was helping Yu Hongming manage the company, he had already made several preparations. Winning people over was a necessary strategy. Among the shareholders were several individuals who had quite a good relationship with him. Upon seeing him, they even took the initiative to greet him. None of them distanced themselves from him simply because Yu Hongming had pushed him aside.

The moment Yu Hongming entered and saw this scene, his expression immediately darkened. His suspicions had indeed been correct. Wang Ning’an had prepared long ago. He had believed that over the past few days he had already removed nearly everyone closely connected to Wang Ning’an, yet he had never expected Wang Ning’an to have established ties even with the shareholders.

The person Yu Hongming had promoted to the position of president two days earlier was an overseas-returned elite whom he had recalled from abroad. This man was also a member of the Yu family. It was said he had once served as a department director at a foreign company, and his résumé looked impressive. But as for the truth, some people knew it perfectly well. If Yu Hongming truly had such an outstanding nephew, he would have called him back long ago. Shenghui’s president position would never have ended up being occupied by Yu Yong or Wang Ning’an.

“President Wang, I’ve long heard of your great reputation,” Yu Honghai said as he proactively approached Wang Ning’an under Yu Hongming’s instruction, attempting to build rapport.

On the surface, Yu Hongming did not want to openly fall out with Wang Ning’an. Thus, even though deep down he wished he could eliminate Wang Ning’an immediately, he still dared not act rashly. However, Wang Ning’an’s request to convene a shareholders’ meeting continued to make him uneasy. He always felt that something beyond his expectations was about to happen.

Wang Ning’an glanced at the hand Yu Honghai extended but did not shake it.

“President Yu truly has a poor memory. Right now, I’m merely one of the company’s shareholders.”

Yu Honghai awkwardly withdrew his hand. Earlier, his uncle had told him Wang Ning’an was no ordinary person. Now it seemed obvious that Wang Ning’an had come with hostile intentions.

“The time has come, President Yu. Please.” Wang Ning’an gestured politely toward the conference room.

Yet before Yu Honghai could walk in, Wang Ning’an entered first.

Seeing that his nephew was no match for Wang Ning’an, Yu Hongming repeatedly attempted to speak with Wang Ning’an in hopes of clearing up any misunderstandings. However, shareholders continuously came over to talk with Wang Ning’an, leaving Yu Hongming unable to exchange even a single sentence with him.

Eventually, he finally got the opportunity—but Wang Ning’an’s first sentence stunned him completely, because he proposed reselecting Shenghui’s president.

“I object! Honghai has only been in office for two days. No one has even seen what kind of performance he’s capable of yet. Replacing him without reason—are you treating Shenghui’s presidency like a joke?” Yu Hongming said sharply.

“That may be true,” Wang Ning’an replied, “but for someone whose résumé can be fabricated, I don’t think there’s much need to observe his performance at all.”

He instructed Peng Yang to distribute the documents to the shareholders.

Seated beside Yu Hongming, Yu Honghai’s heart tightened. No one knew better than he did exactly how capable he really was. His résumé truly was fake. His uncle had fabricated it intentionally to persuade the shareholders. As for being an overseas-returned elite, the truth was that he had gone abroad back then only because he had gotten into trouble and needed to avoid the spotlight.

The documents Wang Ning’an showed everyone were precisely about Yu Honghai. As for the contents, there was no need to elaborate. After reading them, not a single person remained willing to support someone so incompetent becoming Shenghui’s president.

Yu Hongming knew Wang Ning’an had come prepared. What he could not understand was this: even if Wang Ning’an possessed five percent of Shenghui’s shares and had allied himself with several shareholders, that alone should not have been enough to pull him down from power. Therefore, he feared Wang Ning’an still had additional trump cards.

Wang Ning’an did not keep him waiting long.

He nominated one of the executives he trusted for the position. This person was a genuine overseas-returned elite named Berlin. He was mixed-race, but when he first joined the company he had not been valued. Later, after offending his superior, he was suppressed and marginalized until Wang Ning’an discovered him and recognized his talent, promoting him afterward.

Berlin was extremely loyal to Wang Ning’an, but Yu Hongming had never realized Berlin was also Wang Ning’an’s man. The news about the previous shareholders’ meeting had been passed to Wang Ning’an by Berlin.

“Berlin worked for three years at a major foreign corporation and even served as vice president there. He has both experience and ability. I believe he is the most suitable candidate.”

Several shareholders immediately voiced their agreement.

Yu Hongming had originally assumed Wang Ning’an intended to reclaim the presidency himself. Who would have thought he would instead recommend an executive Yu Hongming barely knew? Since Berlin was clearly Wang Ning’an’s man, Yu Hongming naturally would not sit idly by and watch him take office.

Thus, he brought up mistakes Berlin had supposedly made during his employment. In truth, those mistakes had been fabricated by Berlin’s superior to frame him. If Wang Ning’an had not happened to discover the truth back then, Berlin would already have been fired because of that incident.

Since opinions differed, everyone began arguing.

Because Yu Hongming held thirty percent of the company’s shares, making him nearly Shenghui’s largest shareholder, even majority rule would not work if he remained firmly opposed. When he pointed this fact out, the conference room instantly fell silent.

Suddenly, Wang Ning’an stood up, his gaze fixed squarely on Yu Hongming.

“Today’s shareholders’ meeting was not convened merely to select a new president. There is another, more important matter. Since Chairman Yu claims he is Shenghui’s chairman, I’ll take this opportunity to clarify something for everyone. As far as I know, Chairman Yu only holds thirty percent of the shares now—far from enough to truly control the company.”

“So what? You only hold five percent yourself. Even with support from other shareholders, your shares still can’t exceed mine.” Yu Hongming stared at Wang Ning’an sharply.

He thought Wang Ning’an intended to bring up the remaining three percent shares he had promised him earlier. But as long as he refused to acknowledge it, Wang Ning’an would have no evidence.

“Who said I only have five percent?”

Wang Ning’an signaled to Peng Yang with his eyes.

Immediately understanding, Peng Yang placed another set of documents before Yu Hongming.

As Yu Hongming flipped through them, the more he read, the more alarmed he became.

Wang Ning’an said, “These are the Shenghui shares I acquired. Altogether, they now exceed forty percent. Combined with support from the other shareholders, I believe Chairman Yu has occupied that seat long enough. It’s time someone else had a turn.”

“That’s impossible! How could you possess so many shares?” Yu Hongming hurled the documents away violently, glaring at Wang Ning’an in shock and fury as his eyes gradually reddened.

Wang Ning’an leaned back in his chair, hands folded calmly over his lap, exuding the composed confidence of someone firmly in control.

“You should thank Chairman Yu’s wife. Your wife sold all the shares she and Miss Yu Jing held, and the buyer just happened to be me.”

Back when Wang Ning’an used Li Corporation to battle Shenghui to the death, he had already been quietly purchasing Li Xin’s shares. Even before that, he had bought up many shares while Shenghui’s stock prices were falling.

Combined with the shares his grandfather had given him, Wang Ning’an only then learned that his grandfather had actually been one of Shenghui’s hidden shareholders all along.

Thus, with the number of shares he currently held, even without support from the other shareholders, he would only need to acquire a little more in the future to permanently gain controlling ownership of Shenghui.

At last, Yu Hongming understood why Wang Ning’an had so readily accepted the five percent shares earlier and then helped Shenghui resolve its crisis without caring about the remaining shares.

From the very beginning, Wang Ning’an’s plan had been to turn Shenghui into something entirely under his control.

The strength slowly drained from Yu Hongming’s shoulders.

He could scarcely believe that he had personally allowed a white-eyed wolf into Shenghui.

He genuinely believed he had treated Wang Ning’an quite well. Other than favoring Yu Hongzhi in certain matters, he had never mistreated Wang Ning’an. Even now, he still could not understand exactly what grudge Wang Ning’an held against Shenghui.

“Why?”

Wang Ning’an paused slightly.

“If you want to know the answer, then ask your son. Four or five years ago, you once sent him to the branch company in Shanhai City for training.”

After the meeting ended, news quickly spread throughout the company that Wang Ning’an had replaced Yu Hongming as Shenghui’s largest shareholder. The revelation caused a massive stir within the company.

Only a few days earlier, Wang Ning’an had still been burdened with accusations. Now not only had his name been cleared, but in a single move he had risen above Yu Hongming entirely. Some people even thought they must have heard wrong.

Berlin successfully assumed the presidency. With Wang Ning’an backing him, Berlin began aggressively reforming the company the moment he took office. Many employees and executives with either work-related problems or character issues were dismissed, and the vacant positions were replaced entirely with their own people.

In less than a week, Shenghui had completely become Wang Ning’an’s company.

At the same time, Yu Hongming finally learned why Wang Ning’an had targeted the Yu family.

It had all been because of the disaster caused by his own wretched son.

Already harboring little affection left for Yu Hongzhi because of Li Xin, Yu Hongming now hated him even more after learning the truth. Because of that mother and son pair, the Shenghui he had personally built with his own hands had ultimately become someone else’s possession.

In truth, Yu Hongming should actually have considered himself fortunate.

Although he had lost the position of controlling chairman, he still retained a considerable amount of company shares. As long as Shenghui did not collapse, he would still receive substantial dividends every year.

Li Xin understood this as well.

And because of that, she would not let him off so easily.

Ever since learning that his eldest son had been responsible for his downfall, Yu Hongming one day went to visit him in prison. After hearing about it, Li Xin also rushed over and just happened to witness her husband blaming their son.

The husband and wife ended up having a massive argument there. After coming out, Li Xin immediately divorced him and declared that she would never let him, his mistress, or his illegitimate son off the hook.

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