Rebirth of England

In addition to talking about Alipay, Boss Ma couldn't help complaining to Barron about his unhappiness with another shareholder, Yahoo.

When Yahoo initially participated in Alibaba's Series E financing, it was Yahoo's founder Yang Zhiyuan and Boss Ma who promoted the cooperation. After that, Yahoo held 9.9% of Alibaba's shares.

At that time, the relationship between Alibaba and Yahoo was still very good, which benefited from the good personal relationship between Boss Ma and Yang Zhiyuan.

This originated in 2005, when Lu Ji, a core figure of the already influential Chinese community Huayuan Technology Association and a Yahoo employee, invited his boss Yang Zhiyuan to be the keynote speaker at the Huayuan annual meeting that year. Boss Ma was also invited by others at that time. Coming to Silicon Valley - right at "Pebble Beach" in the Bay Area, the two parties met for the first time, and subsequently Yahoo cooperated with Alibaba and participated in Alibaba's E-round financing.

Then what happened was that Microsoft offered $44 billion to acquire Yahoo in 2008.

Yang Zhiyuan, who was the CEO of Yahoo at the time, believed that Microsoft's bid underestimated the value of Yahoo, so he resisted the acquisition, which ultimately led to the failure of Microsoft's acquisition.

This incident made those shareholders who were disappointed with Yahoo's independent development prospects particularly angry. In addition, Google announced that it would abandon its advertising cooperation with Yahoo, which made Google's plan to bring Yahoo US$800 million in revenue every year to nothing. As a result, Yang Zhiyuan, who had a good personal relationship with Boss Ma, resigned as CEO of Yahoo, and Carol Bartz, known as the "Iron Lady", took over as CEO of Yahoo.

Carol Bartz was not prepared to establish any personal friendship with Boss Ma. After she took charge of Yahoo, her relationship with Alibaba was only business-like.

And known as the "Iron Lady" herself, Carol Bartz is also very tough. She has criticized many things, including Alibaba's management of Yahoo China.

This led to the deterioration of the relationship between Yahoo and Alibaba, especially after Boss Ma tried to split Alipay from Alibaba. Carol Bartz even directly spoke on the board of Alibaba. Expressed dissatisfaction with Boss Ma.

Fortunately, unlike the original time and space, Yahoo only holds less than 10% of Alibaba's shares instead of the largest share of 40%. Otherwise, Boss Ma's life would be quite difficult.

In this regard, although Barron comforted Boss Ma a lot during the conversation, he was still happy to see the rift between Yahoo and Boss Ma, as well as the fact that SoftBank is currently criticizing Boss Ma's actions.

After all, these things can also put Barron in a relatively favorable position in Alibaba. He neither wants Yahoo and SoftBank to affect the development of Alibaba, nor does he want Boss Ma to have too strong control over Alibaba. At least if Without his help, if Boss Ma can keep his word in Alibaba, it will actually be detrimental to investors including him.

He also doesn’t want something like the spin-off of Alipay to happen again in the future.

In addition to this meeting with Boss Ma, Barron also met Li Lu, CEO of Tianhe Capital.

After the acquisition of Nanjing Automobile Group, Trina Nanjing Automobile Group is now developing very well. In addition to the joint venture with British Motor Group, they are also preparing to launch Trina Nanjing Automobile's wholly-owned domestic brand this year.

In addition, Tianhe Real Estate, wholly-owned by Tianhe Capital, is also developing rapidly, and Tianhe Real Estate is expected to expand its land bank in first-tier cities through mergers and acquisitions within this year.

It can be said that China's real estate industry will gradually change its pattern in the past two years.

First of all, since last year, various cities in China have begun to intensively launch many regulatory policies.

"Since last year, cities including Yanjing and Shanghai have successively introduced purchase restriction policies. According to our understanding, many cities will also introduce similar measures within this year..."

When talking about Tianhe Real Estate, Li Lu said solemnly:

"According to our speculation, in the short term, the introduction of purchase restriction policies in some cities will bring about stagflation in housing prices, but in the medium and long term, this policy of suppressing demand will only increase transaction costs and put demand behind, and will There is no effective way to meet the demand, so although it seems that some real estate companies will be sad at present, after a period of time these suppressed demands explode, it will bring a wave of panic buying. This is also an opportunity for us to expand our scale through mergers and acquisitions. "

Thanks to the huge returns brought by Tianhe Capital's IE fund in Hong Kong from financial investments, Tianhe Capital's current funds, especially foreign exchange, are very sufficient.

But unlike Tianhe Real Estate, many real estate companies are feeling the cold winter.

Because not only did China introduce control policies including purchase restrictions, but throughout 2010, all real estate-related IPOs, additional issuances, backdoor listings and other financing methods were halted.

Those real estate companies waiting to go public need to continue to wait for the day when restrictions are lifted...

Real estate is an industry that requires a large amount of capital to circulate. This situation has made many real estate companies even worse and have to seek more financing methods.

Just like in Barron's previous life, the number of mergers and acquisitions between real estate companies has exploded in the past two years.

Tianhe Real Estate, which is now well-funded, can take advantage of the current opportunities to expand its scale through mergers and acquisitions.

At present, the main projects of Tianhe Real Estate are concentrated in Jiangsu Province, Shanghai, Chengdu, Chengdu and other places. A considerable part of the land was obtained from the last time Barron went to HK. He reached an agreement with Li Chaoren and took over part of the land he had hoarded. of.

As for the "Tianheli" project in Chengdu - which was the land that the Swire Group won and built Taikooli in Barron's previous life - the project has completed demolition and has broken ground. This is also what Tianhe Real Estate is currently doing. The largest project.

Second only to this is the related commercial complex centered on Costco in Shanghai. This project will be completed in the second half of this year, and Costco's first store in mainland China will be opened soon.

"Although the Magic City is more interested in the Marvel-MGM Studios project, they have already confirmed with the Disney Company that Disneyland will be located there. In addition to the studio, we will also include a film and television base As well as some related real estate projects, the land area required is too large, and the Magic City, which has already established a Disneyland project, is not too aggressive..."

Having said this, Li Lu paused and continued:

"However, many other cities are very interested in our plan, including Tianjin, Dalian and Qindao..."