My Age of Investment

In a spacious and bright conference room, Li Yaozu stood on the stage and played a group of PPT data, and introduced them while playing.

"As of yesterday, the opening price of Penguin was HK$65 and the closing price was HK$60. If calculated based on the closing price, the total market value of Penguin reached HK$1,071, equivalent to approximately US$13.8 billion.

Bailu Fund holds a 12.8% stake in Penguin, with a market value of US$1.766 billion.

For this part of the stock, our average purchase price two years ago was 12.61 Hong Kong dollars per share, and the total purchase price was 2.712 billion Hong Kong dollars, equivalent to approximately 350 million U.S. dollars. "

When the introduction came here, Li Yaozu looked at Xia Jingxing who was sitting by the window and basking in the sun with a smile on his face. The latter was leaning back on the chair with a cup of coffee in his hand, looking very comfortable.

Li Yaozu paused, and continued: "I remember that many people were not optimistic about this deal at the time, and they all thought that Mr. Xia missed your deal.

Now we have slapped these pessimists with hard facts, and created a return on investment of more than 500% in just two years. The investment case is a classic!

Especially at that time, in order to buy as many Penguin stocks as possible, Bailu Fund aggressively swept the secondary market, which also caused a lot of premium on the average purchase price.

Even so, the absolute value of the return on this investment has exceeded US$1.4 billion, and if converted into RMB or Hong Kong dollars, both exceed 10 billion!

Even compared with Ahri's investment, it is not much inferior. "

Hearing this, all the staff in the room cast admiring gazes at Xia Jingxing, who had a calm expression on his face.

It is no exaggeration to say that the Big Three, the top Internet camp in China, have all been touched by their bosses.

Among them, the investment in Baidu is slightly less. With the liquidation of the Lixia Fund some time ago, all these stocks have been thrown away, and the profit is not particularly large, only 100 to 200 million US dollars.

However, the company has made a lot of money from the two investments in Penguin and Ali.

Netizens outside are still struggling with the rankings among the major Internet companies, arguing about who is the number one Internet player in China, but they don't know that the real boss has already quietly grabbed the biggest dividend in the industry.

Xia Jingxing put down the coffee in his hand and sighed, "The Lixia Fund sold a little earlier. There were more than 40 million shares. They were all liquidated at a price of just over 30 Hong Kong dollars a few months ago. The profit was doubled."

Seeing the regrettable expression on the boss's face, Li Yaozu felt a little funny, "There is no way to do this. The fund's duration has expired, so it's impossible not to liquidate it?"

"Of course it needs to be liquidated, but you can directly distribute shares to LP!"

Xia Jingxing smiled brightly and said, "The LP decides whether to sell or not. We don't take cash for the excess profit sharing, but stocks."

Li Yaozu nodded, "There is such an operation in the industry, but it is a little troublesome to handle."

Xia Jingxing waved his hand, "The trouble is not terrible, the terrible thing is that we have only been short for a few months, and we missed out on double the profit.

If you are unlucky, it is possible to miss several times the income. "

Li Yaozu said with a smile: "Yes, when you encounter such high-quality stocks, you really can't jump off the train. You can get on the train at the next stop, and the fare will be completely different."

Xia Jingxing smiled. More than three years ago, when the Lixia Fund was just raised, it invested more than 100 million Hong Kong dollars in Penguin. At that time, Penguin had just been listed for less than a year, and the average purchase price was 3.76 Hong Kong dollars per share. After three years, the income looks like eight or nine times, so-so.

"Mr. Xia, the Lixia Fund only holds 2.6% of Penguin shares, and there is no need to disclose the reduction.

But our Bailu Fund is different. The shareholding ratio has far exceeded 4.99%. According to the trading rules of the Hong Kong Stock Exchange, it needs to be disclosed when reducing its holdings. "

Li Yaozu smiled wryly, "If we sell it directly in the secondary market, it may be like two years ago again, causing violent fluctuations in the stock price."

Xia Jingxing shook his head lightly, "We can't stay, we must reduce our holdings."

Li Yaozu pressed the PPT controller in his hand,

He called up a picture, pointed to it and said: "At the end of last month, Penguin's share price briefly hit a high of HK$72, then fell back and hovered around HK$60.

If we put down a large sale order, it is possible to drop the stock price to 30 Hong Kong dollars or 20 Hong Kong dollars. "

Xia Jingxing frowned, "Let's get in touch and see if there is any organization willing to take over by transfer agreement?

Otherwise, you can contact Penguin and tell them that if we don’t take over, we will sell it directly in the secondary market, and the market value will be pushed down to the second and third echelons of the industry, so we can’t blame us and gave them a chance. "

Li Yaozu felt that the boss was so ruthless that he wanted to kill Penguin's management.

Take it over, it's not that much money.

As far as he knows, Ponemar's shareholding in Penguin is only a little more than theirs, a mere 12.94%.

Because there is a limit on the number of pledges for stocks, even if Ponima pledged all the stocks in his hands, he would not be able to buy the more than 200 million shares held by Bailu Fund.

Don't take over, let Bailu Fund sell it publicly in the secondary market, it will easily collapse Penguin's stock price.

After a lot of difficulty, it became one of the three giants in the industry. Before it had time to secure its position, it fell to the same level as Sohu.

At this time, Sohu is almost at the same level as Baidu in the previous life, a downtrodden Internet giant, and its market value has become the unit of measurement for the new giant's market value. For example, the market value of Ali is now about 13 foxes, and the market value of Penguin is about 7 foxes.

When everyone else in the conference room had left, Li Yaozu asked Xia Jingxing, "Boss, what if Penguin doesn't take over? Are we really throwing money at the table?"

"How can it be!"

Xia Jingxing shook his head and laughed, "It's just to scare them! The little horse has been dancing very happily recently, and it's against me everywhere, so I need to beat it."

"But I think the growth rate of Penguin's performance is very good? The stock price trend is also very good, so we just sell them all?"

Li Yaozu thought for a moment, and then said: "If we consider from the perspective of maximizing profits, we can actually consider selling them in batches."

Xia Jingxing took a look at Li Yaozu. The Bailu Fund was managed halfway by the other party. Li Ying had been in charge of this fund before, so the other party was not very clear about some things.

"Penguin and Hainei.com are rivals in the social field, and they are also rivals with domestic games. After a while, the overseas holding group will launch a MOMO voice, and Penguin has QQTalk, a voice software..."

Xia Jingxing listed out the products that Penguin and Overseas Holdings competed with, and asked with a smile, "Do you understand now?"

Li Yaozu nodded slightly, he fully understood that the boss might be going to take action against Penguin next, so he quickly cleared the stock, so as not to accidentally injure "his own people".

Xia Jingxing didn't explain too much. The reason why he decided to liquidate Penguin's stock was not that he planned to make a move on Penguin, but that he had already done so.

Since he cut off the three games of DNF, CF, and Xuan Wu, Xia Jingxing dared to conclude that Penguin's game business would not be able to get up anytime soon.

If the performance can't get up, how can the stock price go up.

I haven't dealt with Penguin's stock before, that's because the influence of Haineiwang on Penguin is still very small.

But now that Hainei.com has been upgraded to a domestic holding group, and is about to fight Penguin in various fields, it doesn't make much sense to hold Penguin's stock.

He has earned more than 10 billion yuan from the penguins. If all the money is used for subsidies to crack down on the penguins, will Xiao Ma be pissed off when he finds out?

Xia Jingxing suddenly looked forward to this.

…………

…………

In an office in the Fiyta Building, after listening to Liu Zhiping's statement, Ponima was furious: "Don't buy it! Let them sell it casually! It's really deceiving!"

Looking at Ponima whose face was distorted due to anger, Liu Zhiping comforted softly: "Boney, calm down, we must treat this matter with caution."

Ponima had a cigarette in his mouth, and was about to light it up and take two puffs to relieve his emotions.

When he heard Liu Zhiping's words, he became even more angry, and with a "bang", he smashed the lighter to the ground.

"Calm down? How can I be calm? When they wanted to buy Penguin's stock, we have clearly expressed that we don't welcome it.

But Xia Jingxing still had the cheek to frantically buy our stocks in the secondary market.

We tried our best to put him together.

Thought we won!

As a result, people earned five times the income!

Now that they're about to retreat, why don't we give them a ride? Where in the world is there such a reason?

The robber ran away to your house and lived there for two years. He ate and took things. After leaving, you gave the robber a gift? "

Looking at Ponima with a livid face, Liu Zhiping smiled bitterly, "What you said is correct, this matter is quite embarrassing, and it will be uncomfortable for anyone.

But it is already an established fact. After the anger has passed, we still have to find a way to deal with it. "

"How to deal with it? No money!"

Ponymar found a lighter again, lit the cigarette, and his face was shrouded in smoke.

Immediately, he spread his hands, "Is it impossible to pledge all my stocks to take over the order? That's not enough!"

Liu Zhiping pondered for a moment, "What if I ask MIH for help?"

"Are you crazy? They already hold more than 30% of the shares, plus these more than a dozen points, they will reach the holding line."

Ponima shook his head again and again, "No, this is definitely not possible!"

Liu Zhiping heaved a long sigh, "But that guy Li Yaozu is very stubborn, saying that if we don't take over that batch of stocks, he will slowly reduce his holdings. If Penguin's stock price rises, he will sell it; if it falls, he will hold it, and wait for it. When it rises, sell it again.

He said that after two years of hard work, the rate of return could not compare to Ahri's investment. "

Ponima said in a sarcastic tone, "It's really the rogue style of Vision Capital! It's not a family, and you don't want to enter a family."

Liu Zhiping said flatly: "I have worked with Li Yaozu for several years, and he should just follow orders."

Bonima sneered, "Xia Jingxing is such a despicable person, he can't deal with penguins from a business level, so he can only use these dirty tricks."

Liu Zhiping said with a serious face: "No matter what method he uses, he has already made a move now, we have to find a way to deal with it quickly."

After smoking a cigarette, Ponima calmed down a bit now, and he kept hinting in his heart not to be angry, because once angry, he might fall into Xia Jingxing's trap.

Maybe the other party was just waiting for him to fall into the trap.

"If we ignore it and allow Vision Capital to sell shares in the secondary market, what do you think will be the worst outcome?"

Liu Zhiping replied 1510: "First of all, their shareholding is too high, what did you see two years ago, once a large number of stocks were sold, the stock price would definitely collapse.

Li Yaozu spread the word on behalf of Xia Jingxing, saying that our market value will be reduced to 1 fox or 0.5 fox. "

"What's the meaning?"

Ponima had a black question mark face, "Conquer us? Or muddle us?"

Liu Zhiping shook his head and laughed, and patiently introduced the new market value measurement unit to Ponima.

After listening to this, Ma Huateng immediately became angry, "Pull us to the same level as Sohu? He must be dreaming!"

Liu Zhiping nodded, "I also don't think it's possible to exaggerate that much, at most two or three foxes."

The corner of Ma Huateng's mouth twitched, he couldn't bear the two or three foxes.

Thinking of him conscientiously starting a business, he has problems with his waist.

And Charles is as happy as a fairy every day. If everyone has the same achievements, then why is he working hard?

Liu Zhiping continued to analyze calmly: "If our stock price does not go up for a long time, it may seem that there is not much impact on the surface, but in fact it is not. The industry status, attractiveness to talents, etc. will decline, and even the status of Nanshan Pizza Hut may be affected."

Ponima nodded slightly. As the boss of a listed company, how could he not pay attention to the stock price, but he just didn't want to admit it.

"Even if you want to take over these shares, you can't let MIH take over all of them."

Liu Zhiping looked at Ponima in surprise, why did he suddenly change his sex?

Noticing Liu Zhiping's gaze, Bonima said indifferently: "You are right, you should treat it with caution."

Liu Zhiping smiled, and then the two began to negotiate the share of the offer.

"MIH can pick up a few points, and find a few other institutions to pick up a few points..."

Speaking of this, Bonnie Ma paused, "How many points will our management take?"

Liu Zhiping was a little surprised, "Bonny, are you willing to pledge your own equity?"

Bonima sighed, "It's come to this point, I have to bet my entire fortune on a gamble.

If we don't even have confidence in our management, how can we convince other organizations? "

Liu Zhiping felt that it made sense, he broke the boat, did not leave a way out for himself, put it to death and survived, this is the real entrepreneur!

The image of Ponimar in his mind instantly grew a lot.

Ponima suddenly changed the subject, "However, I bought a few houses recently, and money is a bit tight, so I can only pledge half of the equity. You and other management should also pledge the shares to buy some?"

Hearing these words, the glorious image of Ponima that was still in Liu Zhiping's mind disappeared, and after a long time of trouble, he still didn't dare to bet his entire fortune?

After thinking about it, if I were in Bonnie's position, I might not dare to make such a big gamble. Taking out half of the equity is considered a lot of courage.

"Okay, I will also pledge half of the equity granted to me by the company, and I will gamble with Bonny."

Hearing this, Ponima showed a satisfied smile. Over the years, he has been reducing his penguin stocks to improve his life.

There is really no need to gamble your entire fortune.

Liu Zhiping said: "We will hold a senior management meeting later and call on everyone to pledge half of the equity together."

Ponima waved his hand, "It's not compulsory! But those who are willing to fight with the company, write it down, and give priority to promotion and use in the future."

Liu Zhiping nodded with a smile, thinking that this idea is good, it is a loyalty test.

…………

…………

Xia Jingxing waited in Hong Kong for a week, but he still didn't get a reply from Penguin.

Just when he was about to reduce his stock holdings by several hundred million to scare Xiao Ma, he suddenly received a call from Tong Shijie.

"Mr. Xia, just now Liu Zhiping asked the heads of several of our venture capital institutions to meet. He wants us to take over the shares transferred by Vision Capital."

"What did he say?"

"Liu Zhiping talked about the hype, what surpassed Ali, the stock price doubling plan, the game strategy...

In short, in one sentence, if you buy Penguin stocks, you can't lose money! "

Xia Jingxing laughed loudly, "Then what do Xiong Xiaoge and the others think?"

"A bit tangled!"

"What are you bothered about?"

"IDG sold Penguin equity at a valuation of US$60 million, and now it has bought it back at a valuation of more than US$10 billion. It is a bit embarrassing."

Xia Jingxing originally thought that it was due to the different positioning of the fund in the primary and secondary markets, but this is the result?

"It's making money, it's not shabby."

Tong Shijie snickered, "You know, this group of people takes face more seriously, and they have the burden of idols."

Xia Jingxing was speechless, and asked again: "What specific conditions did Liu Zhiping promise, such as price?"

"I was just about to tell you this. Liu Zhiping said that the price is 10% off yesterday's closing price, 10% off."

"Fuck!"

Xia Jingxing felt that this was a bit too much, and was about to continue complaining when Li Yaozu knocked on the door and walked in.

"President Xia, Liu Zhiping asked us to meet."