After discussing Xianduoduo's next store opening plan, Lei Dongming called Zhang Yida.
“Luckin Coffee’s Series B financing has been completed, raising a total of US$200 million, led by Happy Capital and Dazheng Capital, and we, GIC, and CICC are following the investment.
I invested US$22 million and got 1% of the shares.”
This is not much different from the US$2 billion valuation envisaged by Zhang Yida. It is slightly higher by 10%, and Luckin’s valuation has expanded to US$2.2 billion.
Although it is a bit crazy, it is true that they are very good at telling stories. They want to make Chinese coffee and benchmark themselves against Starbucks.
Zhang Yida feels that this valuation must be a bubble, but in his memory, Ruixing has maintained a market value of US$4 billion to US$5 billion within six months after its listing.
It should be impossible to lose money.
Just be careful of getting it into your own hands, so he told Lei Dongming: "We are just financial investors. Ruixing may need to raise funds later, so we shouldn't follow.
After subsequent financing and listing dilution, our shareholding may only be a few tenths of a percent.
Once the lifting period is over, just sell it on the market!"
Lei Dongming didn't think there was anything wrong. They had discussed the "quick in, quick out" strategy a few months ago when Liu Dahai first contacted them.
Moreover, Huayi Capital's shareholding is not high, so it won't make much if it remains in it. Unless the market value rises to 20 to 30 billion, there may be a tenfold return.
But just think about it, Luckin is still a million miles away from Starbucks.
"Okay, I will let the post-investment department keep an eye on it and exit as quickly as possible."
Zhang Yida said "hmm" and then chatted with Lei Dongming about the projects Huayi Capital has invested in recently.
He basically doesn’t care about Huayi Capital anymore, and he has almost caught all the unicorns that should be captured anyway.
The next work has to be completed by Huayi Capital itself, and he has no golden fingers to guide which projects to invest in.
Huayi Capital has been developing for four or five years. It has established eight or nine RMB funds and US dollar funds in total, and has invested in dozens of unicorns, including Toutiao, Magnesium Group, Didi and other star companies.
It can be said that it is famous in the industry and has attracted a large number of outstanding talents to join.
Even without Zhang Yida's "guidance", it can still operate normally and will not be much worse than other leading venture capital institutions.
…
"Mr. Zhang, look for me."
Zhang Yida was walking around in the chairman's office reserved for him by Yimindai. When he saw Chen Shaojie walking in, he smiled and greeted: "You're back, sit down quickly!"
Chen Shaojie nodded with a smile and sat down on the sofa nearby.
Zhang Yida took a sip of tea and asked: "How is the work in the Indian market currently going?"
"Everything is on the right track. We have obtained the NBFC-ICC license, which is a small loan license in popular Chinese terms.
Mr. Fan and the others have obtained the NBFC-P2P license, but it is said that it seems to be a little difficult to obtain funds."
Zhang Yida nodded and sighed, "Yes, how can the third brother have the money to buy any P2P financial products? The market is generally more optimistic about the pure lending model.
Hey, by the way, are there many Chinese financial technology players in India now?"
"There are so many, so many. The area we are in is all Chinese overseas players."
Chen Shaojie talked about what he saw and heard, “When it comes to lending, we Chinese are very nautical.
Big companies such as Ahri, Dami, and Kunlun Wanwei have gone there, while four or five small companies have gone there to lend money with 10 million.
Oh, by the way, Ruixiang Investment’s Lefenqi also has a presence in India.”
Zhang Yida nodded, Lexin invested almost at the same time as Miaofenqi, but Ruixiang cleared all its shares before Miaofenqi went public.
Lefenqi also went public at the end of the year before last. Ruixiang reduced its holdings by 10% and cashed out nearly US$300 million. It still holds 13% of Lefenqi shares and is the second largest shareholder after the founding team.
The market value of Lefenqi and Miaofenqi are almost the same, both hovering around US$2 billion. The investment income created by the two investment projects for Ruixiang is similar, with several billions each. Ruixiang can be said to be the best investment company except for the founding team.
The biggest winner.
Lu Min, who kicked Rui Xiang out and hugged Leech Jinfu's thigh, also felt the pain.
A few months ago, the contracts between Leech Financial Services and Miao Installment expired and would not be renewed, and the "Lai Installment" traffic entrance on Paybay was closed.
Because P2P's serial bombings, routine loans and other issues have aroused great public opinion, Leech Financial Services Group took this step because it cherishes its feathers.
Miaofen is in disastrous situation. Its net profit has exceeded 2 billion yuan for two consecutive years, but it has been disliked by the market. Its market value has dropped to only 2 billion US dollars, which is far from its former market value of 10 billion US dollars.
As for Lu Min's slogan: No salary if the market value is less than 100 billion US dollars, it has become a laughing stock.
Shareholders such as Leech Financial Services and Kunlun Wanwei are selling Miaofen shares, which has caused the stock price to plummet further.
Zhang Yida didn't care that much. Before the listing, he sold 10.24% of his equity at a valuation of US$3 billion and cashed out more than 2 billion yuan.
At that time, Xu Xiaoming felt that he had lost money and made a bet with Zhang Yida.
However, Zhang Yida didn't mention it, and Xu Xiaoming obediently presented him with a top-of-the-line Rolls-Royce Phantom worth tens of millions, fulfilling his bet.
Compared with Miaofenqi, which has completely transformed into cash loans, Lefenfenqi has been deeply involved in installment e-commerce. Although its net profit is lower than Miaofenqi, its stock price is much more stable.
Considering that the stock price of Lefenqi was also unstable, Zhang Yida did not continue to reduce his holdings and decided to wait and see for a while.
“Now we have a difficult problem before us. When it comes to lending in India, the current law is not clear about the annualized loan interest rate for NBFCs (non-banking financial companies). The industry’s default upper limit is 48%.
However, the platform can increase the actual loan interest rate to 300%-400% by setting service fees, payment fees and other fees other than interest.
It is said that a small team brought 10 million to lend money and has achieved a monthly net profit of 1 million."
Zhang Yida narrowed his eyes slightly and looked at this elite who had returned from Wall Street, basically guessing his intentions.
"It's different. The small teams you mentioned are all severely punished by the country and can't survive, right?"
Chen Shaojie smiled and did not deny it.
Zhang Yida continued, “More and more Chinese financial technology companies are now entering Southeast Asia. According to preliminary estimates, there are 700 to 800 companies in Indonesia alone.
They are all domestically operating anti-aircraft guns, IOUs, P2P, and loan supermarkets. Now the domestic market has been disrupted by them, and they have come to Southeast Asia.
I don’t think they are doing business carefully in Southeast Asia, they are just trying to make a fortune, work for a year or so and then run away, which is similar to guerrillas.”
Chen Shaojie said with a smile: "It's like this. I heard from colleagues in Southeast Asia that there are many local small and medium-sized players who go overseas and feel that the local competition is fierce, so they focus on India.
There are 1.3 billion people here, 500 million Internet users, and it is a country. They think there is an opportunity to replicate the prosperity of online lending in China in 17 years."
Zhang Yida took a long breath. This is really because he is addicted to lending, or the profits are too high and he doesn't want to wash his hands.
He also knew the main composition of this group of people. The Dongou Consortium was the main group, and this group of people, known as Chinese Jews, had been active on the big stage since the era of real estate speculation.
With a quick mind, and using family ties and township parties as ties, one person discovers a way to make money, and everyone in the family and place starts to do it.
"We can't be like them. Our size means we can't play like them."
Zhang Yida said, "All procedures must still respect local laws and regulations."