My 1999

"Uncle Four, Uncle Tong."

Xu Liang greeted with a smile.

He arrived at the Li family villa early in the morning.

The two old men stood up to greet him, and after a brief greeting, they sat down again.

"Brother Tong said that you were so busy that you would definitely be late, but now you have slapped him in the face."

Xu Liang smiled and said, "The two old seniors invited me to give me face, so of course I have to come early."

Sha Dan Tong waved his hand quickly.

"Mr. Xu is too polite. Your presence is a great honor to us two old guys."

"We are all old friends, so I won't say too much polite words. Come, have tea. Today I prepared the best Wuyishan Dahongpao." Li Zhaoji smiled.

"No wonder I smell so good, it turns out that Uncle Four took out the treasure." Xu Liang smiled.

"To entertain your distinguished guest, of course we need good things."

As he said that, Li Zhaoji raised the teacup.

Xu Liang saw it and raised his cup with him.

After three rounds of tea,

"Mr. Xu, what do you think about the acquisition of Seibu Group? Is there a high chance of success?" Li Zhaoji said.

"Uncle Four, Uncle Tong, Seibu Group is in a lot of debt now, are you really going to get involved?"

Li Zhaoji: "Is the opportunity rare?"

"Uncle Tong has a great chance to acquire Westinghouse and Sogo Department Stores, but Uncle Four's plan to acquire Prince Hotel alone is unlikely to work." Xu Liang said after a little thought.

"Why?"

Zheng Yutong asked curiously.

"The Japanese market is now dragged down by the real estate crisis more than a decade ago, and consumption is sluggish. The flow of people in the mid-to-high-end department store market has dropped by half.

Add to that the impact of new consumption patterns, such as shopping malls.

Both Takashimaya and Nishiya Department Store, which rank first in Japan, have encountered difficulties.

Now the Japanese department store industry has turned its attention to China, seeking new growth points.

Under the condition of less intense competition, the difficulties encountered by Uncle Tong in the acquisition are much smaller.

But Prince Hotel is different.

The most impressive thing about the Seibu Group led by Yoshiaki Tsutsumi in the past was the 'Tokorozawa model'."

Tokorozawa is an agricultural town near Tokyo, with a population of only tens of thousands at most. Apart from the good landscape conditions, there are basically no resources.

No one is optimistic about it.

But Seibu has taken a unique approach and successively developed Seibu Park, Golf Club, Baseball Field and Artificial Ski Center here.

Before this, many Tokyo people had money but no place to spend their time. After the completion of these entertainment and leisure venues, there was an endless stream of tourists and business was booming.

Not only that, Seibu Group also made great efforts to improve the city's transportation, built railway stations and bus stations, and provided supporting facilities such as hotels, supermarkets, libraries, theaters, and schools.

A backward agricultural town quickly became a medium-sized city with a population of 800,000.

For a time, the Tokorozawa model set off a huge wave in Japan.

A large number of local officials came to visit Yoshiaki Tsutsumi and invited him to develop the local area.

Yoshiaki Tsutsumi seized the opportunity and selected those remote places with beautiful scenery but inconvenient transportation and unknown names throughout Japan, or places that were once famous but have declined.

Build railways, recreation areas, golf clubs, ski resorts, sanatoriums, etc.

At its most glorious time, Seibu Group controlled one-sixth of Japan's operating real estate, with a total number of employees exceeding 100,000 and total assets of 165 billion US dollars, which was 10 times that of Panasonic Group at the time.

Xu Liang continued: "The Prince Hotel is part of the 'Sokozawa Model'. If it is sold separately, then the hundreds of ski resorts, dozens of golf clubs, and amusement parks under the Seibu Group will also have to be sold separately.

In this way, the debts behind Seibu will be difficult to handle.

Therefore, Seibu's creditors have always hoped to sell the assets including hotels, Seibu amusement parks, golf clubs, baseball stadiums, and artificial ski centers as a complete asset package.

If Fourth Uncle wants to take over the Prince Hotel, he must take over all of Seibu's tourism assets."

After the bankruptcy of the Seibu Group, scattered assets, such as the shares held by Bandai and the Seibu Lions baseball team, have been sold.

The assets that have been left now are mainly divided into two major parts.

The first part is Seibu's tourism assets, including hotels, ski resorts, golf clubs, etc.

The second part is retail assets, with Millennium Retail as the core, including subsidiary brands such as Seibu Railway, MUJI, and Yoshinoya.

Retail assets may be sold separately, after all, the brand independence is relatively high.

Unlike tourism assets, they are all part of the resort.

Higher correlation.

"Now the tourism resort assets under Seibu Group are about 23.8 billion US dollars, but the debt ratio is as high as 127%, and the operating cash flow is only 1.72 billion US dollars."

Xu Liang took out the information he had prepared in advance.

"These are the detailed information about Seibu Group collected by Hanhua and Hongyan. You can take them back and have a look. If you don't understand anything, you can call me."

The two took it.

The information is very thick, with hundreds of pages.

After a simple flip, the content is very detailed, far exceeding the information they collected.

I was very happy for a while.

"Mr. Xu, thank you."

"Haha, you're welcome. I have been friends with you for many years, and it is only right to help each other."

Zheng Yutong: "If New World really participates in the acquisition of Seibu Department Store, it must hire Hanhua as a consultant."

"The same goes for Henderson."

Xu Liang smiled and said, "Then I'll wait for your calls."

"Haha, no problem."

After finishing the business and chatting for a while, Xu Liang said goodbye.

After leaving the Li family, after lunch, he went to the airport to pick up Ponima who had already arrived in Hong Kong from South Korea. The two of them drove to Shatin District, Kowloon.

"What do you think of going to South Korea this time?"

"It is indeed more developed than the domestic game market, and the development capabilities are also stronger."

"After all, it has been developed for a few years longer than the domestic market, so it is normal to be stronger.

However, the market size of South Korea is too small, and it is inherently insufficient.

The upper limit in the future is not as good as that of China."

Although he did not quite agree, Ponima did not object.

"I heard that they said QQ is very popular in South Korea?"

Ponima's face was excited.

"From entering the South Korean market in 2004 to now, the total number of QQ registered users has exceeded 2.49 million, accounting for one-fifth of the total number of South Korean netizens."

Instant messaging is not a new thing in South Korea, but QQ Space is different.

User stickiness is extremely high.

In addition to the diversion brought by the acquisition of Hongmeng Music, Hongmeng Comics, Hongmeng Animation and other businesses.

QQ can develop so fast in Japan, South Korea and Southeast Asia.

It can be said that without the entertainment assets acquired from Hongmeng, QQ's overseas scale would probably not even be one-third of its current size.

But compared to the rapid development of QQ in South Korea, Ponima cares more about another thing.

"Mr. Xu, since the launch of "Zhengtu" at the beginning of this year, the number of concurrent online users has exceeded 480,000. It is the most popular original game in the country, with an average monthly revenue of 57 million Chinese yuan.

By the end of the year, the number of concurrent online users of "Zhengtu" is expected to exceed 800,000, and the revenue will exceed 1 billion Chinese yuan."

Ponima looked excited.

The game market that he had been thinking about was finally kicked open by Penguin.

And it was a big hit as soon as it was launched.

In the 6-hour public beta, the number of concurrent online users exceeded 200,000, which set a record in the domestic game market.

He thought "Zhengtu" was good, but he didn't expect it to be so good!

It's simply a money printing machine!

"Zhengtu is doing well, and Penguin has a storefront. You should manage it well and maintain a balance between krypton gold players and ordinary players. Otherwise, it will be popular for two years and disappear in the future."

"Don't worry, I will keep an eye on it personally."

Penguin finally came up with a hit game comparable to "Legend". Of course, it must be developed one by one and two by three and four, and become a cash cow for Penguin Games.

If anyone dares to exhaust the pond to catch fish, he will dare to fight him.

Glanced at Xu Liang's expression.

"Mr. Xu, Penguin has cultivated a lot of game talents in the past two years. In addition to the "Tianmei Studio" that developed Zhengtu, we plan to set up a new studio.

But there has been no good game development plan.

Can you write another one for us?"

With the success of "Tianxia", "KartRider Rush+", and "Zhengtu", Xu Liang is also a well-known industry Midas Touch in the game circle.

None of the games he personally planned and acquired was not popular.

In addition to the popularity of "Zhengtu", Ponima once again set his sights on him.

"You are good at making plans. Because of the matter of ZT, Hongmeng Games calls me every day to say that I am partial to one and not to the other."

"Mr. Xu, your shareholding in Penguin exceeds that of Hongmeng Games, and you have helped Hongmeng Games a lot before.

"Legend", "Miracle", and "World of Warcraft" are all world-class hits.

We at Penguin only have one game, "ZT", so we are the one being treated poorly."

Looking at Ponyma's eager look, Xu Liang's eyes were filled with thought.

The four games that made Penguin rise in the last life.

"Cross Fire", "Dungeon \u0026 Fighter", "QQ Hall" and "QQ Speed".

QQ Speed ​​is a direct copy of KartRider.

Now KartRider is a Riot game developed by Hongmeng Games, and the two companies have the same boss.

So plagiarism is not allowed.

Under Xu Liang's leadership, Penguin paid a licensing fee and developed "QQ Speed".

As for the fact that "QQ Hall" copied "Bubble Hall", Xu Liang didn't care.

Shanda is not his company.

But there is no way for Dungeon Fighter. As early as 2003, Xu Liang had designated this game and it was developed by ‘Jumang Game Studio’ under Hongmeng Games.

It was successfully listed in 2005.

It is now one of the three trump cards under Jumang Games.

The other two are Legend and Demi-Gods and Semi-Devils.

But now there is one more, Zhengtu, which is not much difference.

Cross Fire has long been given to ‘Tianwu Studio’ under Hongmeng Games, and it is about to be launched.

It is impossible to give it to Penguin.

“By the way, League of Legends, I almost forgot about this.” Xu Liang thought.

But he is not sure whether League of Legends has been approved by Riot Games.

If it becomes plagiarism, it will be a lot of fun.

“Since you have developed Zhengtu well, I agree to your request.”

Ponima was overjoyed.

“Thank you, Mr. Xu, we will work hard and never waste your creativity.”

Xu Liang nodded slightly.

"We're almost there. Do you want to visit Hongmeng's new campus in Hong Kong?"

After hesitating for a while, Ponima refused.

He came back from a visit to South Korea and landed directly at Hong Kong Airport.

He was exhausted and just wanted to go back and rest.

"Boss Xu, forget it this time. Anyway, I'm close, and there will be plenty of opportunities to come over in the future."

Seeing the fatigue between his eyebrows, Xu Liang did not force him.

He directly sent a car to take him and Penguin's employees to Pengcheng.

"Sister Li, can you help me check if there is a company called 'Riot Games' in the United States now?"

"Yes."

The car continued to drive forward.

Xu Liang picked up the operating data and financial report of Penguin in the first half of 2006 brought by Ponyma.

After acquiring Hongmeng Entertainment assets.

The current Penguin has the appearance of the Penguin in Xu Liang's impression.

The business departments under it are social, entertainment, and portal business sectors.

The social sector is divided into three major businesses: QQ, QQ Space, and Weibo.

The entertainment sector is divided into seven major businesses: literature, music, animation, games, film, e-sports, and video.

The portal sector is divided into three major businesses: Penguin.com, Penguin Mail, and Penguin Open Platform.

Under Xu Liang's leadership, Penguin no longer engaged in e-commerce and search, and focused its main energy on external expansion and entertainment business.

In addition to the headquarters in China.

Seven branches have also been established in South Korea, Hong Kong, Japan, Singapore, Thailand, Indonesia, and Dubai.

With the help of Hongmeng, most of the Asian market has been covered.

The total number of registered users of QQ has exceeded 50 million, excluding China.

With the addition of Hongmeng Music and other businesses, as well as the popularity of "Zhengtu".

Penguin's revenue in the first half of 2006 has exceeded 3.74 billion Chinese yuan, a four-fold increase over the same period last year.

Net profit exceeded 1.275 billion Chinese yuan.

It has increased three times year-on-year.

But the net profit margin has declined.

These poor brothers in Southeast Asia don't have much money in their pockets.

The same user is worth $100 in Japan, $80 in South Korea, and $50 in China. Except for Singapore, Malaysia and Thailand, Southeast Asia is only worth $20, or even lower.

So investing in the Internet here, the returns in Southeast Asia and South Asia are difficult to compare with those in China, Japan and South Korea.

Of course, making money can still make money, so it can't be let go.

In the global market, Southeast Asia is the only place that is truly suitable for Chinese companies to expand.

It is close, has many Chinese people, and is rich in resources. It is a real back garden.

"Penguin's layout is becoming complete. The next step is to continue to dig deeper in various sectors and consolidate the foundation." Xu Liang thought.