Wall Street Legend

Chapter 79 Potential Stocks (23)

Attending the road show was purely coincidental.

Tencent is ambitiously preparing to go public. The Internet industry has been in bad shape in the past two years. Many companies are facing the dilemma of cash flow rupture. They do not have stable sources of income. Only a few examples make money like Oracle and Microsoft.

The same is true for this company. There are fewer and fewer institutions and individuals willing to invest in the Internet industry. The capital liquidity of the entire industry has dropped to freezing point. A large number of potential companies have gone bankrupt due to the break in the capital chain during the long cold winter. Layoffs, spending cuts, benefit reductions, and other events are happening at both ends of the Pacific at the same time. If you want to survive, you will definitely need an injection of capital.

Tencent is now just a pretty good small company. Due to the addition of the "QQ Card" revenue channel at the beginning of the year, it has successfully turned a loss into a profit. This year's revenue is expected to reach more than 200 million yuan, with a profit margin of about 55%. Ye Dongqing remembered its name.

So, I happened to come across this road show and had nothing to do, so I found a reason to ask for a ticket.

Boni Ma was very happy for Ye Dongqing's uninvited visit, because this way he could tell reporters that his company was being watched by Wall Street.

Most ordinary residents of New York hate Wall Street and think that the people there are a bunch of greedy vampires, which is indeed the case, but its gold-lettered signboards are loud outside and are suitable for advertising.

Ye Dongqing didn't know what the other party was planning. When Boni asked, he said that he came all the way from New York just because of this road show and wanted to know about this company.

He knew how big the company would be in the future, but he didn’t know much about the situation in this era. He had checked it online a few days ago, but there wasn’t much information. At this moment, he was tentatively asking: “Mr. Ma, I heard about your company. Nearly half of the shares are owned by a South African company?”

The most popular news about Tencent on the Internet is that a company was willing to acquire shares of this company at a valuation of up to 60 million U.S. dollars last year, as if it was some great thing. There are not many specific descriptions of the situation, and there are no online resources. The United States is developed.

Boney Ma said helplessly: "Yes, the MIH Group in South Africa is fortunate to have this company to help. Otherwise, I would not be standing here talking to you today. The reason why it has achieved a revenue of more than 200 million is because It put some money into my company.

In June last year, MIH Group acquired the shares held by IDG Group and Xiangjiang Little Superman at a valuation of US$60 million, and then purchased less than half of the shares from some management. It currently holds 41% of the shares. Around point two. "

Before investing in a company, you must first understand the equity structure. During this period, the young man named Ma often mentioned to potential investors that the data had already been memorized in his mind. He thought Ye Dongqing wanted to invest in his own company, how could he know this guy? It was actually because he was running away that he hid in Xiangjiang and did not dare to go back.

Speaking of the South African MIH Group, it is listed on the Nasdaq and the Amsterdam Stock Exchange at the same time. Its main business is interactive TV and pay TV. Its current market value is as high as more than three billion US dollars. Ye Dongqing’s net worth is only a fraction of that of the other party. Not even as rich as Pony Ma in front of him.

With the substantial growth in sales and user numbers since the second half of this year, Boni Salted Fish, which was almost driven crazy by funds in the past few years, has turned around and still holds more than 20% of the shares. Based on the current valuation, it has He is a wealthy man worth 40 to 50 million US dollars.

Of course, valuation is valuation. If someone buys it, it is money. If no one buys it, it becomes a bubble.

Ye Dongqing felt that there must be a guy with a sharp vision in the MIH Group, otherwise he would never have come all the way to invest in a Chinese Internet company in the bad market environment like last year.

This is insightful. From last year to now, many companies with huge sums of money have begun to invest in potential stocks at the bottom. These people and companies themselves have not understood what a correct decision they have made.

According to the market value calculated by Boni Ma, MIH Group only spent 20 to 30 million US dollars to successfully obtain the status of Tencent's major shareholder. The value of this asset will be at least a hundred times higher in the future.

If he had money, he would like to buy these shares. Unfortunately, the situation is unclear now. It is still difficult to determine whether he will lose money and owe a lot of debt. He has no money to invest.

I really hate this terrible feeling of having a golden mountain in front of me, but I can only look at it from a distance. On the surface, I am calm, but inside I am already vomiting blood. This is all money...

There were still many guests to entertain. After taking the time to chat with Ye Dongqing for a few minutes, the young man who was the company's decision-maker left. He found a chair to sit down and read Tencent's briefing.

The so-called road show is actually a way for the company to communicate with potential investors before it goes public. It will be listed on the Hong Kong Stock Exchange soon, but the specific time is unclear.

Several middle-aged people around were talking quietly. Ye Dongqing overheard that it would be difficult to go public in the short term. When one of them said unabashedly that the company had no future, he smiled and said nothing, and turned his attention to a few people. There was a white man holding a document with "MIH" written on it. Needless to say, most of them worked for that media group.

South Africa is located in Africa and is the second largest economy in Africa, second only to Nigeria, which is extremely rich in natural resources. However, South Africa's wealth has little to do with black people. The "Apartheid Act" was not overturned until a few years ago. Decided to drive white people out of South Africa.

This MIH Group is an authentic Western company, no different from those companies on Wall Street.

After much hesitation, Ye Dongqing got up. After arranging his clothes, he walked over and asked them in native English: "Gentlemen, I am the CEO of Freshwater Fund Company, headquartered on Wall Street. Now you have time to talk to me about business." What's the matter? A business worth tens of millions of dollars."

One of them, a bald white man, shook hands with him and asked: "Freshwater Fund?"

He also used his eyes to ask the people around him, but they all shook their heads, saying that they had never heard of this company. There were so many companies on Wall Street, but only a few were well-known. It was not surprising.

Ye Dongqing, a shameless person, opened his mouth to lie again. He said: "This company has just been established, and I have business dealings with Edward Johnson Jr. You should know his mother, who is from Fidelity Investments."

When this giant Buddha was brought out, the people in front of them suddenly looked surprised. MIH Group is not small, but compared with Fidelity Investments, it is an insignificant fish. Any company that manages hundreds of billions of dollars in assets is insignificant in all No occasion is taken lightly.

His attitude instantly became gentle. When the old man who looked like a supervisor heard Ye Dongqing mention it deliberately, he subconsciously thought that he was helping the Johnson family. He said with a smile: "Hello, is there anything I can help you with?"

"Call me Leo, I want to talk to you about how much it will cost before you are willing to sell us the Tencent shares held by MIH Group..."