My Age of Investment

In the evening, the three game companies Shanda, Ninetowns, and Penguin gave Xu Min a definite answer, expressing their withdrawal from tomorrow's bid for acquisition.

It is also very reasonable to give a reason. We have never heard of a $20 million deposit before participating in the bidding.

Now it was Xu Min's turn to panic. No matter how dull he was, he realized that these three companies were here to make trouble, at least not because they sincerely wanted to acquire Neople.

After scolding "Axiba", Xu Min was thinking about how to answer Li Yaozu. It can't be said that you will bid with yourself tomorrow, right?

After this experience, Xu Min at least understands one thing. Compared with the other three companies, Haineiwang and Envision Capital are undoubtedly the most sincere acquirers, and they also acquired a Korean peer, Shimankai.

After thinking for a while, Xu Min called Mr. Cui, and at night, he called Li Yaozu and Wu Yimin to inform him of the relevant news.

"What? Shanda, Ninetowns, and Penguin have all withdrawn? Tomorrow will our company sing a one-man show?"

Li Yaozu's tone was exaggerated, he was shocked at first, and then became very angry, "I think you are deliberately teasing us to play, right? You found the three game companies, and now you are the ones who say they don't play. Join us and play for us, right?"

Wu Yimin gave Li Yaozu a thumbs up, this momentum was enough, and the offense and defense changed instantly.

Li Yaozu smiled at Wu Yimin, feeling in his heart, Mr. Xia is really good at predicting things, and those three colleagues are really doing harm to others, doing such things that harm others and not benefit oneself.

In fact, Li Yaozu really wronged the three companies, harming others is certain, not necessarily harming himself, it's just that the plan failed.

Faced with Li Yaozu's criticism, Cui Bowu continued to apologize on the phone, and said that he would cancel tomorrow's bidding and negotiate one-on-one.

"Excuse me! You have too many tricks, Mingxiu plank road to secretly hide Chencang, two peaches kill three warriors, empty city plan...

Thirty-six Strategies and Sun Tzu's Art of War have all been played out by you! There are too many routines!

If there is sincerity, why bother to play so many tricks? Well, that's it, no need to talk anymore, we will return to China tomorrow. "

After putting on airs, Li Yaozu hung up the phone without waiting for Xu Min and Executive Cui to react.

Li Yaozu let out a long breath,

It's so enjoyable to scold these self-righteous sticks!

Still showing off the art of war in front of the Chinese, then you will meet your ancestors!

"Lao Li, it's fun! I saw that the Korean gangsters like Tama were upset, and they wanted to take advantage of us, but Mr. Xia has already seen through everything." Wu Yimin praised from the side.

Li Yaozu nodded. After receiving Xia Jingxing's "remote micro-manipulation" instruction, he was actually a little apprehensive, for fear that Mr. Xia might have misjudged the situation.

Far away, there is the "Dasong Dynasty" who gave the formation map, and there is Chang Kaishen, the master of micromanagement, all of whom lost their masters and humiliated the country.

Xia Jingxing is not in Korea, so he doesn't understand the situation here, but the result is still correct, what does this mean?

Li Yaozu couldn't find any words to describe it. He could only say that Mr. Xia had a thorough understanding of those three game companies.

"You said, will the Koreans come to stop us tomorrow?" Wu Yimin began to worry, "You were so resolute just now, did you overact it?"

Li Yaozu chuckled, "Don't worry, in the past half a month, the substantive progress of the negotiation has not been achieved, but one thing is confirmed, Xu Min has no intention of running the company anymore..."

Li Yaozu talked about the basis of his judgment, and he found that Xu Min was an entrepreneur similar to Charles, with a very rich life.

After selling the company in his previous life, Xu Min also went to the United States to become a professional baseball player. He seemed a bit unemployed, and after playing for a few years, he returned to Korea to start his own business.

the next day.

Li Yaozu dragged his luggage again, staged yesterday's outing, just walked to the entrance of the hotel, he was stopped by Executive Cui and Xu Min, who refused to let him go, and asked to talk again.

After a few cool words, Li Yaozu complied half-heartedly.

"200 million dollars? No way!"

After hearing Li Yaozu's offer, Xu Min shook his head again and again, which directly cut off more than half of their 500 million US dollar offer.

He does so much fancy work, doesn't he just want to earn some more money to enjoy life?

After confirming that the three game companies would not come to cause trouble, Li Yaozu also began to become stronger. They could offer a higher acquisition price than other Korean companies, but they would not let Xu Min be a fat pig.

The two parties are engaged in see-saw negotiations around the price.

Negotiations lasted for three days, and finally negotiated a plan to acquire 100% of the shares for US$250 million.

This price is not too outrageous. Last year, Neople’s revenue was more than 100 million yuan, and its net profit was about 100 million yuan. In conversion, the acquisition valuation is 20 times the PE price-earnings ratio.

After the deal was finalized, Li Yaozu immediately called Xia Jingxing to announce the good news.

"Okay, well done, the price is moderate, I am very satisfied!"

After some encouragement, Xia Jingxing hung up the phone.

"Li Yaozu's phone number?"

Chen Hong, who was sitting in the back seat of the car with Xia Jingxing, asked, he just vaguely heard Neople's name.

"Yes, the negotiation is over..." Xia Jingxing briefly described the acquisition process and price.

After listening, Chen Hong commented: "It's less than 2 billion RMB, which is not expensive. I thought it would cost 300 to 400 million."

"If those grandchildren keep mixing, it's estimated that four billion won't be able to beat them."

Xia Jingxing sneered in his heart, why did Lao Wang get into trouble? It wasn't because he was adrift, intervened indiscriminately in Malaysia, and got into trouble with forces he couldn't afford.

Chen Hong nodded his head heavily, and said with emotion: "That's true, you're the one who saw it right, and kicked out these troublemakers with just one move."

He didn't quite believe in Xia Jingxing's judgment at first, thinking that Xia Jingxing might have underestimated the determination of the three game companies, which might have the opposite effect, but it turned out that he was wrong.

"What do you think the three of them are planning?"

Xia Jingxing said indifferently: "The agency right is the first, and the second may be to measure me."

Chen Hong smiled, "Zhang Fan and the others are just out of luck. It seems that some people haven't learned their lesson yet."

"The people who can sit on a listed company and rule the wind and rain in China's game industry and online social networking are not simply easy-going people. Once they step into their territory and touch their cheese, who are you? The richest man can't Moved?"

Chen Hong nodded in agreement, and said, "It feels like they are forming an alliance."

"Each has a ghost in his heart, so what about an alliance, it's just like a sieve."

Chen Hong said lightly: "Having said that, you should be careful."

Xia Jingxing nodded and said nothing, thinking in his mind how to return the slap, the best way is to use games to make these three companies cry.

"Oh, by the way, Frame Media's performance last year has come out, overfulfilling the bet. According to the agreement, Focus Media will issue a batch of additional shares to us. Vision Capital can get 1.433 million ADSs. According to the current stock price of about 70 US dollars, About $100 million."

Xia Jingxing calculated in his mind that after Frame Media was acquired by Focus Media, he received nearly 16 million US dollars in cash and more than 900,000 ADS shares of Focus Media.

He sold all those stocks at a price of just over US$60 per share last year. Adding this amount together, the total investment income is about US$172 million. Now that the exchange rate of US dollar to RMB has dropped to 7.73, the total investment The income is about 1.35 billion yuan.

With an investment of 50 million RMB, the rate of return is 27 times, which is not much different from the 30 times estimated by the industry.

It has been considered a very successful investment, but the exit period is nearly two years, which is longer than the ten-month investment period.

The exit after IPO of VC-invested companies is actually a science. Most institutions have cashed out hastily, and only a few have long-term holdings like Softbank and MIH.

In fact, most VC institutions do not know how to speculate in stocks, and have not set up a special secondary market department. After all, there may not be several IPOs a year, and it is difficult to raise a team.

So simply let the VC investment manager do it for you, and sell the shares casually in the secondary market. In many cases, you don't choose the right time to sell, resulting in a lot of less profits.

Their handling of Focus stocks is fairly appropriate, and they are basically sold at high points, maximizing their profits.

For the project of Frame Media, Envision Capital made most of the profits, but the founders, Hanergy and IDG, didn’t make much.

After saying a lot of words of thanks to Chen Hong, Xia Jingxing suddenly said: "Let's invest 80 million US dollars, plus Hanergy's 20 million US dollars, and then a matching financing of 200 million US dollars, in addition to paying for the acquisition of two Korean game companies. The remaining US$40 million will be injected into these two companies as daily operating funds.”

"I have no objection, you can arrange it." Chen Hong spread his hands, not paying much attention to this matter.

Xia Jingxing smiled. Originally, he was still a little worried about the funds for the acquisition of Shimankai and Neople. Although Chen Hong had already invested 20 million US dollars, he still needed to spend tens of millions of dollars.

Don't worry now, the batch of stocks from Focus just made up for the funding gap.

Chen Hong led him to earn this money, and now he uses this profit to lead Chen Hong to make money.

The two sat in the car and chatted, and arrived at the destination of the trip - the Great Hall in a short while.

After getting out of the car and straightening his suit, Chen Hong said, "A big leader may ask you to discuss it later, so don't make any promises."

"I know!"

Xia Jingxing smiled, he is also such an old man, and he almost has a father who is a district chief. He still knows a thing or two about official matters, and he knows that he can't speak indiscriminately.