It's past nine in the evening.

Gu Bai dialed Xu Beibei's video call.

In the call, Xu Beibei was weaving through a crowd of partygoers, the music loud and piercing, suggesting she was in some nightclub.

Gu Bai frowned slightly.

He's not a hypocrite against women going to clubs; he understands that some women want to relax at clubs with friends once in a while.

What he can't accept is the atmosphere of the nightclub.

Women who often frequent such places can't resist physical contact with the opposite sex in clubs. To be extreme, many women pursue this sense of flirtation.

Even though he often hears online how some claim to be good girls despite clubbing, smoking, and drinking, Gu Bai just laughs it off.

Most men are like him, intrigued by drama but not bothered by it.

To give the simplest example, men like women who dress provocatively, but few accept their girlfriends dressing that way. That's just how men are.

Gu Bai doesn't want Xu Beibei to be influenced by the entertainment circle's vibe before she's even entered it. Fortunately, he arranged for a robotic bodyguard to stay with her, so he's not worried she'll get into trouble, but he still sternly says, "You must be back at the hotel by 11 PM, not a minute later, or I'll send you home directly. Forget about stepping into showbiz then."

Despite the loud nightclub music, Xu Beibei saw Gu Bai's expression and knew he was upset. She quickly nodded in agreement.

Since Xu Beibei is an adult, Gu Bai didn't want to interfere too much in her life. Having gained her assurance, Gu Bai nodded and hung up the video call.

After the call was hung up, some of the second-generation heirs who heard that Gu Bai had arrived in Capital City began to tease him.

Principal Wang tapped the table lightly with a teasing smile, "What's up, Gu Bai? You haven't married yet, and you're already experiencing the parental feeling?"

Gu Bai picked up the wine glass on the table, took a sip, and smiled unconcernedly, "She's my sister; should I let her get misled?"

"Well then, Brother Bai, tell us, what counts as being misled?"

Gu Bai looked at Du Jun, who spoke, not caring about their thoughts, and said directly, "Anyway, you guys aren't exactly good people. There's no way I'll let her associate with you."

"Damn!"

"I suspect you're discriminating against us!"

"No need to doubt it, Brother Bai is definitely discriminating against us."

Gu Bai just smiled lightly without arguing back.

These second-generation heirs in Capital City are famously unruly. Usually, if someone dares to say they're no good, they'd overturn tables without caring. But because it was Gu Bai speaking, there wasn't a trace of negative emotion.

Communication between people sometimes takes on more meanings depending on the speaker's status.

Principal Wang didn't join in the ruckus but tossed Gu Bai a cigarette and said, "I say, Gu Bai, you've been talking about investing in my Panda for so long, yet there's still no movement. Are you planning to bail on me?"

Mentioning this, Gu Bai gave an awkward smile.

Panda's investment plan was settled by Mr. Shao nearly two months ago, but he's been busy with charity and then acquiring Hongye Building Materials, leaving no time to address it.

"Have you all finished adjusting the internal equity?"

"All set, 45% of the management rights are in my hands now. We're just waiting for you to start the investment plan, and I'll immediately kick off the B+ round of financing. You have no idea, Douyu and Huya are reportedly in talks with Tencent. If I don't act fast, Panda might be done for."

Principal Wang clearly understands Panda's plight.

Likewise, Gu Bai is well aware that at this point in the past, Panda TV wasn't just on a downward slope; it was facing a Waterloo moment, besieged by negative publicity.

Unpaid wages, borderline content, and a gray industry chain.

It once pushed Panda TV to the brink of death. In fairness, Principal Wang's abilities are decent, managing to hold firm for over a year under internal management decay and external public pressure.

Gu Bai tapped on the table, looking at Principal Wang.

"So, how much equity are you planning to sell for financing?"

Principal Wang knew this is when the serious discussion starts.

The second-generation heirs, who were still making noise, stopped talking, and the atmosphere became serious.

"15%, at a valuation of 8.5 billion."

Gu Bai didn't delve into the valuation, instead chuckling lightly.

"Principal, you're aware that our group has shifted its focus to tangible industries this year. As you know, I spent nearly 4 billion acquiring Hongye Building Materials. If it weren't for the fact that the investment in Panda was confirmed last year and has been under negotiation, I wouldn't even be interested. So do you think 15% of the equity can satisfy me?"

Principal Wang's expression subtly changed.

"Then tell me, how much do you want?"

"Minimum 25%, or there's no deal."

Gu Bai's tone was calm, and Principal Wang was no longer as nonchalant.

"25%? You're asking for 25% right off the bat, so what do the benefits I let go to reclaim management rights count for? Once you enter, won't I face the same chaos in equity as before?"

"Principal, we're friends sitting together, but since we are talking business now, I'll speak bluntly. Panda TV itself is already a mess. To be frank, take out Panda TV's financing report now, and see how many investment banks dare to step in? Assuming one does take this risk, who will acknowledge your 8.5 billion valuation?

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