Zhang Yida stepped on an open space in the Rongcheng High-tech Zone and looked around at the desolate land that the city government was planning to sell to him.
In fact, it's not too desolate. There is a bustling software park a few kilometers away, but this land is currently bare and looks relatively deserted.
The software park had been planned more than ten years ago, but Zhang Yida could not find an open space that satisfied him.
He looked down on some of the trivial things, and finally fell in love with this 158-acre piece of open land not far from the software park.
Twelve companies including Ruixiang will build a science and technology park here, including 6 buildings and their attached podiums, and the remaining area will be used for greening.
Lan Lan followed Zhang Yida and said with a smile: "Land in Rongcheng is really cheap. It's more than 1,200 square meters per square meter. This 158 acres of land only costs 130 million yuan."
Zhang Yida smiled and said, "This is why so many Internet companies build second headquarters in second-tier cities!
Build a science and technology park, build a few buildings, and rent out the unused floors.
In addition to collecting some rent to support your family, you can also enjoy the dividends of real estate appreciation.
Real estate is so profitable, even Internet companies are jealous of it!"
Lan Lan chuckled, Mr. Zhang's words pointed out the real reason why the Internet company built a second headquarters.
"Mr. Zhang, our science and technology park has a planned construction area of 200,000 square meters. It is fully completed and can accommodate tens of thousands of employees to work here."
Lei Dongming paused and then said: "The total investment is about 2 billion yuan. How do you think this investment will be divided?"
Zhang Yida then looked at Fan Hongyang, Ding Siyao and others who were following him, and asked: "Tell me about it! Should Rui Xiang's family pay for it, or should you all share it together?"
Lan Lan smiled and said: "We at Ruixiang would like to fully invest, but we're just afraid that you might have objections."
Among the twelve companies, Huayi Capital and Dogfud are just going through the motions. The only companies with real investment capabilities are Ruixiang, Yimin Wangjin, Huimin Travel, etc. Each of them can afford 2 billion yuan.
RMB.
"Are you talking? Why are you looking at me?"
Zhang Yida saw that all the senior executives were looking at him, so he asked aloud.
“Building science and technology parks is a good business, but taking Yimin Wealth as an example, we don’t have many employees, and our main customers are concentrated in Beijing and Shanghai Pengyang.
We might put a branch here with dozens of employees and that's about it.
Brother companies such as Ruixiang, Huimin Travel, and Yimin Wangjin need to relocate more employees, so they should invest more!"
Ding Siyao's words were recognized by several small company executives such as Pate.com's Lu Fenghai and Dogford Kubin. They are still in the development stage and have invested tens or hundreds of millions to build buildings. The efficiency of the use of funds is too low.
.
Even if they agree, investors will object. Using the money to subsidize users and seize the market is the most "correct" way to spend money.
"so!"
Zhang Yida motioned for everyone to listen to his point of view, and everyone turned their attention to him. He continued: "Ruixiang invests 51%, and you can divide the other 49%. Give up the naming rights of the science and technology park to Ruixiang!"
"
The others had no objection. After all, Ruixiang was the largest and richest among them, and they all nodded in agreement.
I took senior executives to see the land and negotiated the investment ratio of each company in the science and technology park. The matter of the second headquarters in Chengdu was finally concluded.
Zhang Yida went back to Jinyu County again. After having a meal with his parents, he was ready to return to the capital.
Guzhi County received another call from him. The Yunding Stone City that he had donated tens of millions to restore was finally completed, and he was invited to fund the completion celebration of the project.
At the celebration, the county magistrate praised Zhang Yida to the heavens, saying a lot of things such as "When drinking water, think of the source, never forget your original intention, and repay your hometown."
Not only this donation project, but also the fact that Zhang Yida invested billions in the second headquarters in Chengdu, Guzhi County is also aware of it.
For this reason, Mayor Luo has greatly praised him, the "number one hero", and said that if there is an appropriate opportunity in the organization, he, a capable veteran comrade, will be given more responsibilities.
Therefore, Guzhi County would like to thank Zhang Yida from the bottom of his heart, not only for the people in his hometown, but also for himself.
Zhang Yida came to the stage to receive the donation certificate issued to him by the Guzhi County government on behalf of the government, and delivered a speech, and the ceremony ended successfully.
After declining the interview from Chengdu TV station and the banquet reception from Guzhi County, Zhang Yida rushed to the airport and returned to the capital the same day.
…
Yimin Wealth Company.
In the conference room.
Ding Siyao received a group of blond foreigners in suits and ties. They were staff members of the two major investment banks, Goldman Sachs and Morgan Stanley.
Lei Dongming was also present. Huayi Capital, which had not yet received an IPO project, was ready to take advantage of Yimin Wealth.
As soon as he heard that Yimin Fortune was going to open a Pre-IPO round of financing, he rushed over as soon as possible.
“Yimin Fortune’s revenue in 2014 was 258 million yuan, and its net profit was 76.2 million yuan;
Revenue in 2015 increased by 354% month-on-month to 1.171 billion yuan; net profit increased by 421% month-on-month to 397 million yuan...
At present, the basic business of Yimin Wealth includes: mainland China public fund agency sales, private equity fund management, Hong Kong high-end insurance agency sales, overseas asset allocation, investment immigration, high-end education, family offices, etc.
Currently, it holds 4 financial licenses for private equity funds in mainland China, public fund sales, insurance brokerage in mainland China, and insurance brokerage in Hong Kong."
Ding Siyao was wearing a black women's slim-fitting suit with a straight waist. She confidently introduced the financial data and various basic businesses of Yimin Wealth to the investors present.
Robert from Goldman Sachs asked: "Ms. Ding, I see that Yimin Wealth's business is mainly concentrated in mainland China, including Hong Kong insurance, which is also sold to mainland tourists.
In the future, will you consider expanding your business overseas like Yimin Wangjin?"
"That's for sure!"
Ding Siyao smiled brightly and added: "We currently have an office in Hong Kong, and the next step will be to consider opening branches in Southeast Asia."
Morgan Stanley's Evans said: "Ms. Ding, I am very satisfied with Yimin Wealth's basic business data and growth rate. But I have a question?"
"Please speak!"
Evans nodded and asked: "In addition to cooperating with offline companies such as ultra-luxury car 4S stores, yacht clubs, and golf clubs to acquire customers, Yimin Wealth also relies heavily on Ruixiang Group for online customer acquisition.
If, I mean if, Ruixiang Group stops cooperating with you one day, will it cause serious damage to Yimin's wealth? Do you have any preventive measures?"
Ding Siyao frowned. The question asked by the foreigner was so paradoxical. How could Ruixiang Group terminate cooperation with Yimin Group? Unless Zhang Yida was crazy, that would be enough.
Compared to Evans, Robert has had more contact with the Chinese and knows that human relations are more important than anything else in this land.
He made a supplementary explanation, "Ms. Ding, what Evans means is that Yimin Wealth's customer acquisition relies heavily on Ruixiang Group.
This situation has always been a relatively big hidden danger after listing, which greatly affects the investment judgment of investment institutions on Yimin Wealth.
We know that both Ruixiang Group and Yimin Fortune have the same actual controller, and that is Mr. Zhang Yida.
To access this kind of hidden danger, it is best not to use verbal agreements. It would be great if Yimin Fortune could sign a five-year or even ten-year long-term cooperation agreement with Ruixiang Group.”
Ding Siyao finally knew how powerful the international investment bank elites were, and wanted to bind Rui Xiang to death and completely eliminate hidden dangers.
"That's no problem. We can come forward and sign a written long-term cooperation agreement with Ruixiang."
Ding Siyao asked again: "Are there any other questions?"
Robert and Evans both spread their hands, indicating that there was no problem.
"Okay, then let's talk about valuation and financing share in detail."
Ding Siyao dug out the materials in duplicate and handed one to Evans and the other to Robert.
"This is the financial statement of Noah Wealth in recent years. We are both a third-party wealth management institution, and our business highly overlaps with theirs.
At present, Noah's price-to-earnings ratio is 30 times, and Yimin Wealth's valuation is 11.91 billion yuan based on 30 times PE, which is 1.847 billion U.S. dollars when converted into U.S. dollars."
Evans shook his head, "After all, Noah Wealth is the leading stock in China's third-party wealth industry. It has been listed for six years, and its revenue and net profit have been growing steadily.
Therefore, they have enjoyed a certain market premium. Yimin Wealth has been established for less than three years, and there are still many uncertainties in the future.
If it were valued at 30 times PE, I'm sure my superiors would fire me when I returned to the United States."
Robert looked at the financial report of Noah Wealth and said: "30 times PE is really too high. On Wall Street, the P/E ratio of a mature large financial company will not exceed 10 times.
I think the valuation of $1.847 billion should be multiplied by two-thirds, and $615 million is a more reasonable valuation."
After more than two years of training, Ding Siyao also studied for an MBA and is no longer a novice. Does she know that these two are joining forces to lower prices?
She got up and turned on the projector in the conference room, played a set of PPTs, and introduced: "We can see through this set of PPTs:
In 2015, the total global private wealth reached US$158.2 trillion, a year-on-year increase of 5.3%.
Among them, the growth rate of the Asia-Pacific region leads the world, reaching 9.5%.
As a regional leader, the private wealth market in China grew by 13% in 2015.
This growth rate is more than two times higher than the global average. In the United States, Europe and other regions, class consolidation is serious, and the growth rate of private wealth business may be even lower than 5.3%.
China's growth rate may reach three times theirs, or even exceed it.
The Chinese market will surely become a new engine for global wealth growth, containing new opportunities for the development of the wealth management industry.
So this is why Noah Wealth can obtain a PE ratio of 30 times, while the price-to-earnings ratio of Wall Street financial companies is less than 10 times.
Goldman Sachs, Gao Hua, Morgan Stanley Huaxin, I believe you are no strangers to each other!
They were born precisely because the two companies behind them saw the ultra-high growth rate of China's economy and the huge wealth opportunities it contained, so China initiated the establishment of these two joint ventures."
Lei Dongming looked at the two foreigners who were speechless, laughed, and took the lead in applauding.
Before coming, Zhang Yida had expressed his anger with him and asked him to help his people.
1.847 billion US dollars. Lei Dongming believes that the valuation is still very reasonable. With the rapid development of Yimin's wealth, it is possible that the valuation will double in one or two years.
Lei Dongming didn't want to make too much, he just wanted to take a ride and get the IPO to zero.