Core Viewpoint - The article discusses a remarkable investment story involving Chen Zhiping and Yiwei Lithium Energy, highlighting how a decision by minority shareholders saved a potentially disastrous investment in Smoore, which later became highly valuable [5][12]. Group 1: Investment Background - In 2014, Chen Zhiping sold 50% of his company, Smoore, to Yiwei Lithium Energy for approximately 4.39 billion yuan, during a time when Smoore was experiencing significant growth [10][11]. - Smoore's revenue surged from 5.16 million yuan in 2012 to 167 million yuan in 2013, making the acquisition price seem high relative to its past performance [10]. Group 2: Investment Challenges - Following the acquisition, Smoore faced challenges in the electronic cigarette market, failing to meet profit targets set in an agreement for the years 2014, 2015, and 2016 [14]. - Yiwei Lithium Energy planned to sell its stake in Smoore for 4.45 billion yuan to its major shareholder, but this required approval from a shareholder meeting [14][15]. Group 3: Minority Shareholders' Impact - A group of minority shareholders, holding only 4.06% of the shares, voted against the sale with nearly 99% opposition, allowing Smoore to continue its operations [15][16]. - This decision led to Smoore's subsequent success, including a successful IPO in 2020, where its market value reached over 480 billion yuan [11][12]. Group 4: Current Valuation and Returns - As of now, Yiwei Lithium Energy's remaining stake in Smoore is valued at approximately 20 billion yuan, and it has received around 2 billion yuan in dividends since Smoore's IPO [12][16]. - The investment, which initially seemed like a loss, turned into a significant asset for Yiwei Lithium Energy, showcasing the potential for recovery and growth in strategic investments [12][20]. Group 5: Strategic Investments and Industry Position - Yiwei Lithium Energy is an active corporate venture capital (CVC) player, investing in companies that align with its supply chain, including Smoore and others in the lithium battery sector [18][19]. - The company’s long-term equity investments have contributed approximately 6 billion yuan in returns over the past decade, emphasizing the importance of strategic investments for industry leaders [19][20].