My 1999

Just got back to the hotel.

"Mr. Xu, New Dream's 2001 financial report is here," Lu Hui reminded.

Xu Liang was stunned for a moment, opened his laptop and logged into his mailbox. Sure enough, there was a new email.

There is a lot of content.

Fortunately, Xu Liang's mailbox space is not small, otherwise it would not be possible to send it.

Currently, New Dream has a total of four businesses.

First, art education for the college entrance examination, including art, music, musical instruments, etc.

There are currently 45 training bases across the country. The number of additions is not very large, and there is a high probability that it will be difficult to increase.

After all, the art college entrance examination is not very popular now. Except for first- and second-tier cities and some third-tier cities with relatively developed economies, even if there are art students further down, most of them stay in school and rarely enter professional art training classes.

Without it, it's too expensive.

For the vast majority of rural children and nearly half of urban children, art training is very expensive.

Therefore, in the future, it will be difficult for New Dream’s college entrance examination art education and training bases to expand rapidly, and there will most likely be only one or two, or two or three, a year.

It will develop slowly according to the country's economic development.

Throughout 2002, the number of students taking art education in the New Dream College Entrance Examination exceeded 18,000, reaching 18,072.

Net revenue was 203 million Chinese dollars.

Mainly includes tuition and accommodation fees.

The price difference after centralized purchasing of school supplies, such as pencils, drawing paper, paints, and brushes used by art students, wears out quickly, and the price difference after centralized purchasing is also a huge profit.

Then there is the income from on-campus ancillary businesses, such as convenience stores and canteens.

As for the last time Xu Liang and Teng Huaming talked about selling outstanding student paintings, as well as student concerts and choirs, the decoration at the headquarters has not been completed yet and has not started yet.

There are many items of income, and there are also many places for expenditure.

Labor costs account for 25%, and venue rental and daily losses account for 21%.

In fact, the rent of New Dream is not that high. After all, many properties are self-sustained. Although they were all divested later, it only took two months.

But similarly, before the divestiture, New Dream also had to pay interest on the loan to purchase the property.

If the interest is folded into the rent, it will be almost 18% in one year.

Marketing expenses, mainly advertising, are 12%.

Tax and five insurances and one housing fund account for 7%.

Taxes in the education industry are generally not high. Especially for New Dream, which is one of the top ten innovative enterprises in Beijing, the taxes are even lower.

After deducting all expenses, the total profit of New Dream College Entrance Examination Art Education is 35%, which is about 70 million.

The second is early childhood art education and subject education.

In more than a year, the number of branches has grown to 129.

In particular, subject education has developed the fastest. New Dream has invested heavily in poaching, rehiring retired teachers, and cultivating its own three channels, which has led to rapid expansion.

In contrast, early childhood art education is relatively difficult.

Domestic art education has developed in a relatively short period of time. Although the new dream spares no expense, there are still not enough teachers recruited.

Therefore, many teachers have to wear multiple hats and even teach large classes.

It is difficult to make up for this in a short period of time. Fortunately, New Dream also has its own internal training class. After more than a year, it can basically handle the art training of young children.

As for revenue, we can only say that the winter and summer vacations are too strong.

The combined revenue from New Dream's non-winter and summer vacations is comparable to the revenue from these two holidays.

The net revenue of subject education was 624 million Chinese dollars, and the net revenue of kindergarten art training was 416 million Chinese dollars.

The two add up to 1.04 billion Huaxia coins.

The net profit is similar to that of college entrance examination art education, which is 313 million Huaxia coins.

Finally, there is vocational education.

At the beginning, it was mainly a cooperation with Hongmeng, mainly training game original artists and cartoonists, and the number of people trained was limited, only 60 people in total.

However, external enrollment will begin in earnest in the second half of this year.

The former recruited four classes, and the latter recruited two classes, totaling more than 200 people, distributed in the capital and Shanghai. After all, only in economically developed places can these two majors have a market.

In addition to game original paintings and comics, game design and programming are also added.

There are not many people, there are two classes in each class, totaling about 60 people.

Basically, they are training related to Hongmeng business.

With a limited scale, the revenue is not much, only 1.67 million Huaxia coins for the whole year.

Net profit is 580,000 Chinese coins.

Taken together, New Dream's net revenue in 2001 reached 1.26 billion Chinese dollars and its net profit was 383 million Chinese dollars.

There is also 883 million Huaxia coins in cash on the account, about half of which is funds raised from Ideal Education.

In addition to cash, the new dream is the factory building in District 798A that was just purchased for 63.5 million Chinese dollars.

This piece of industrial land is sold for 500 Chinese coins per square meter.

Currently, New Dreams is looking for ways to convert it into educational land.

But this indicator is difficult to obtain, and we have to continue to wait for opportunities.

"It's a waste to leave so much cash in the account." Xu Liang said.

Although prudent investment can achieve a return of more than 6%, it is still too low.

After thinking for a while, Xu Liang slid the mouse and continued to scroll back.

"Huh? This Lao Teng is afraid that I will use his money to invest."

At the back of the financial statements is the New Dream 2002 development plan, a very important one of which is the construction plan for the New Dream Magic City, Pengcheng and Yangcheng training centers.

The Magic City side bought a 12,000-square-meter plot of land in the center of Magic City at a price of 6,000 per square meter. The entire investment was as high as 72 million Chinese coins.

Pengcheng and Yangcheng are similar, but the land price is slightly lower.

Different from Jingcheng 798, the three pieces of land in Magic City, Pengcheng and Yangcheng are commercial land after approval, so the price is so expensive.

Xu Liang took out his cell phone and dialed Teng Huaming.

It could be seen that the other party was also waiting for his call. As soon as he called, the call was connected in less than three seconds.

"Mr. Xu?"

"I received the financial statement you sent, it's good."

"Without your support, we wouldn't be able to develop so fast." Teng Huaming said with a smile.

"Okay, we are following each other, so there is no need for these polite words. ... Lao Teng, I have read your development plan for 2002, and there is generally no problem.

However, is the investment in training centers in Modu, Pengcheng and Yangcheng too high? As you know, our training center mainly focuses on art education for the college entrance examination, and there is no need to choose the city center. "

"If it is just art education for the college entrance examination, of course there is no need to be in the city center. However, in the future we will also expand vocational training, and transportation in the city center is relatively convenient. Moreover, land in the city center has more investment value." Teng Huaming said.

"Lao Teng, haven't you always opposed investing in real estate?"

"Mr. Xu, you misunderstood. I am not against New Dream's investment in real estate. In fact, investing in real estate now not only allows New Dream to gain profits from real estate appreciation, but also reduces our rental costs.

But your previous real estate investment plan was too big, and the monthly interest payments exceeded the net profit of your new dream. During that time, I couldn't eat well or sleep well, for fear that one day I would wake up and my new dream would be insolvent.

In comparison, although New Dream is now investing in real estate, the total of the three land parcels in Modu, Pengcheng and Yangcheng is only about 240 million Chinese dollars. Including later construction, our current cash reserves are enough.

And in 2002, our revenue will only be higher. Therefore, the construction of three training centers is completely within our affordability. "

It can also be seen from here that Teng Huaming's business strategy is more conservative.

Xu Liang pondered for a moment, "Old Teng, part of the reserve cash on the company's account is the financing of Ideal Education. Its finances are separate from New Dreams, and the training center has nothing to do with the development of Ideal Education. IDG and Yingke agreed to use this money Is the money invested in real estate?”

"We will give priority to using New Dream's own money, including the profits of 2002. If it is not enough and Ideal Education needs to use financing, we will pay Ideal Education according to the current bank loan interest rate, which both IDG and Yingke have agreed to. "Teng Hua Ming said.

Xu Liang understood clearly that he could probably guess what IDG and Yingke were thinking. Real estate investment was sound and there was basically no possibility of losing money.

In this case, I might as well give him a favor.

"That's good. ... I have no objection to the company's development strategy for 2002."

After Teng Huaming breathed a sigh of relief, "Mr. Xu, will you still attend this year's annual meeting?"

"Of course, I have already prepared it." Xu Liang smiled.

Although he doesn't like to dream new things, he sometimes needs to declare his presence in front of employees.

After briefly chatting about the annual meeting, the two hung up the phone.

After carefully reading New Dream's 2001 financial report and 2002 development plan, I turned off the computer.

Stern was more decisive than Xu Liang expected.

The next day he received a call from the other party.

"Mr. Xu, I can promise you the No. 1 pick this year, but not the top three lottery picks in 2003."

Xu Liang frowned, "Mr. Stern, the Warriors are a bad team and we need good players to support them."

“Isn’t this year’s No. 1 pick enough?”

"not enough."

Xu Liang further explained: "Mr. Stern, let me tell you the truth. For this year's No. 1 pick, I plan to introduce Yao Ming, the center of the China Sharks basketball team."

"Yao Ming?"

"You know him?"

"I have an impression. He is a very good big man."

"But he is too thin and may not be able to adapt to NBA competition. I plan to introduce him more for the purpose of developing the Chinese market, but we need a guaranteed record, so the top three lottery picks in 2003 are a must."

Stern frowned, thinking of Wang Zhizhi, the first Chinese center to land in the NBA, who is currently playing for the Dallas Mavericks.

The opponent used to be the same as Yao Ming, who also dominated the Chinese domestic league.

But when I arrived in the NBA, I was very uncomfortable with the confrontation here.

So far, I haven't achieved any outstanding results.

"Mr. Xu, there are many outstanding players this year, such as Duke University's Jay Williams, who is the undisputed best college player in the United States and won the Naismith and Wooden awards.

Thanks to the book friend ‘Win in BJ’ for the 1,000 starting coin reward, thank you very much