Although Huang Xin was a little drunk, he still felt that the name was too middle-aged. Looking at Zhang Yida's young face, he couldn't help but think of himself when he was young.
When I was young, I gave up my doctorate degree in the United States and returned to China to start a business.
The first time I started a business, I started a classmate network. At that time, I was as high-spirited as Zhang Yida, giving advice and inspiring writing.
But not long after, he encountered a severe beating in life, and he had no choice but to sell his classmates website, ending his first business venture in despair.
Huang Xin couldn't help but persuade:
"Yida, since you call me new brother, I can't help but give you some advice.
When I first started my classmates network, I wanted to blame the sky and the earth just like you, but the result? You should know it too.
Now we are all still in the entrepreneurial stage and have not yet reached the maturity stage. Compared with the giants, they are already adults, while we are extremely fragile children.
Do children fight with adults?
I have two suggestions for you at this stage:
The first is to practice hard on internal skills and lay a solid foundation for yourself first.
The second is to accumulate food and slowly become the king. First, pretend to be a grandson in front of the giants, and if necessary, let them buy some shares. It doesn't matter.
Don't go against them at this stage. They have money, resources, and technology. If you play against them, the best case scenario is a stalemate.
What should you do if you are stuck? Your peers will surpass you."
Huang Xin had a serious look on his face. He also admired Zhang Yida and couldn't bear to see him jump into the pit, so he gave a few reminders.
After hearing these words, Zhang Yida sobered up a lot. His journey has been so smooth!
What if Ali currently advertises that it invests 10 billion to subsidize mobile payments?
I guess the investors will persuade them to withdraw their troops!
If you have never beaten someone, you will not only be injured, but you will also have no medical expenses. You may lose your ability to work and be unable to take care of yourself.
The foundation is still too weak! Even a ruthless person like Huang Xin has to smile when facing giants.
Zhang Yida nodded towards Huang Xin and said respectfully:
"Thanks for the suggestion, Brother Xin. I will definitely think twice before taking action."
Huang Xin glanced at Zhang Yida appreciatively and said:
"The alliance you mentioned also makes some sense. But it's still too early.
When the four of us combined can catch up with the market value of a giant, we will almost be able to form this alliance.
Doing it now will not only make people laugh, but will also expose their firepower and attract the giants to encircle and suppress them."
Zhang Yida remained silent, feeling that he was indeed too immature and took things for granted.
…
The next day.
In the conference room of Magnesium Tuan Company, negotiations resumed.
Investors from all sides are very opposed to Huayi Capital, a newcomer to the industry, taking a piece of the pie.
In particular, Ahri's opposition was the strongest. Ahri's investor representative directly made harsh words:
“If Ahri’s investment share in this round is less than US$150 million, Ahri will withdraw from this round of financing.”
Come on, Ahri’s share can’t be moved, so let’s cut the shares of Blackshirt Capital and General Atlantic Investment!
Lei Dongming, on behalf of Huayi Capital, also attended the meeting and had a heated exchange of words with various investors.
The situation remained deadlocked. Huang Xin couldn't stand it any longer and spoke directly:
"Ali's 150 million, and the other three companies each have 50 million. It's decided like this, don't fight over it."
Huang Xin is still the major shareholder and the soul of the company, so his words are quite effective.
Ahri guaranteed his share of the investment, so of course he had no objection. Although Hei Shi and Pan Pacific were a little dissatisfied, they only agreed with their noses pinched.
In the end, four institutions signed a Series C investment agreement with Magnesium Group. Based on a pre-investment valuation of US$2.7 billion, Ali led the investment with US$150 million, and Huayi Capital, Blackshirt, and Pan Pacific each invested US$50 million.
Huayi Capital obtained 1.66% of the shares of Magnesium Group. Although it is not much, the three small giants in the mobile Internet era are all on board.
In a year or two, Huayi Capital will become a star venture capital firm. It is almost foreseeable that the new generation of venture capital giants will rise unstoppably.
…
In the office of the chairman of Yimin Financial Services Group, Zhang Yida looked at the operating data and financial statements on the table and lamented that he hadn't been here for a long time. What a big change!
The transaction volume of Yimin Wealth has reached 1.3 billion, and the amount to be collected is also 1.3 billion. At the same time, it has maintained a growth of two to three billion every month.
The current total transaction volume of Yimin Financial Management has reached 5 billion, with 1.2 billion to be collected. The transaction volume in a single month has exceeded 1 billion, and is still growing at a high speed.
The two platforms are combined, with a total transaction volume of 6.3 billion, and 2.5 billion to be collected.
The bet made with Blackshirt Capital last year has been completed!
At that time, it was agreed with Shen Beipeng that the transaction volume of the platform in 2014 would reach 5 billion, and when the revenue reached 1 billion, the gambling would be deemed to be qualified.
The transaction volume of 7.5 billion is completed, and the remaining 1.5 billion is regarded as the bet exceeding 50%. Blackshirt Capital will add an additional US$25 million, and only 10% of the shares will remain unchanged.
Next month, which is the middle of the year, we should be able to exceed this goal.
Don’t inform Shen Beipeng yet, I’ll give him a surprise next month.
Zhang Yida continued to read.
The Yimindai online lending platform has begun to show its power. As of May, a total of 1 billion yuan in loans has been issued, and the monthly loan amount continues to rise with more than 300 million yuan.
On the Yimin Puhui side, the two loan stores in Beijing and Chengcheng have lent a total of 300 million yuan, and a single store has lent more than 50 million yuan in a single month.
In addition, Yimin Wealth and Yimin Financial Management also provided RMB 500 million each to Le Fenqi and Miao Fenqi for cash loans and commodity installments.
In terms of income, the loan interest rate of Yimin Loan is 24%-36%, the average loan period is 4 months, and the 1 billion loan has created a total revenue of 100 million yuan.
Yimin Puhui specializes in offline lending, with stricter risk control, lower risk pricing, an interest rate of 24%, and a longer loan period. It can lend out RMB 300 million in 6-12 months and create revenue of RMB 54 million.
Le Fenqi and Miao Fenqi will get the 1 billion yuan, the cooperation period is 3 months, the interest rate is 20%, and the revenue will be 50 million yuan.
The total revenue in the five months was 204 million, of which the average user interest rate was 12%, and 97 million was required to be paid.
In addition, sales and advertising and marketing expenses were 75 million, and the salaries of 700 to 800 employees were 30 million.
In the end, Yimin Financial Services Group made a slight profit of 1 million.
Zhang Yida is somewhat pleased that Yimin Financial Services has been operating for more than half a year and is finally breaking even.
However, when he turned to the report on the bad debt page, he couldn't laugh anymore. Of the 1 billion yuan loaned out by Yimin Loan, of the 200 million yuan currently due, only 180 million yuan of principal and interest were returned.
The overdue rate is as high as 10%. Even if half of the debt is paid back later, there will still be 5% bad debts.
Yimin Puhui's review is stricter, and the overdue rate is lower at 6%.
The overdue and bad debt rates of Lefenqin and Miaofenqi are not clear because they signed a cover agreement.
Not only are their two platforms good at lending, they must also repay all principal and interest with interest.
If you can't afford it, take the management's equity as compensation.
But fortunately, a lot of the current funds have been given to Yimin Financial Services.
These overdue and bad debts are scary!
After writing off the bad debts, it is estimated that Yimin, which just made a profit, will suffer losses again!
So Zhang Yida immediately held an emergency management meeting. The main targets of the attack were Yimindai CEO Chen Shaojie and Yimin Puhui CEO Zhuang Chuguang, and he severely criticized the overdue rate.
Chen Shaojie said with a face of shame:
"Mr. Zhang, this is mainly my fault. I optimistically estimated the domestic credit environment, and there was a flaw in the early stage of risk control.
However, our risk control model quickly made adjustments. If you look at the overdue rate next month, it will definitely drop a lot."
Zhuang Chuguang is a senior executive who was hired from Yiyin Puhui some time ago. He has been responsible for managing dozens of offline loan stores in Yiyin Puhui's northern region. He can be called a veteran of the loan industry.
He also criticized himself:
"I am also responsible for the high overdue rate at Yimin Puhui. It is because I am not rigorous enough in my work. Next, I will focus on the business department and risk control department.
Starting from the source of incoming items and risk control review, we must reduce the overdue rate."
After beating the two of them, Zhang Yida praised Ding Siyao and Fan Hongyang.
Because of the outstanding performance of the two of them, Yimin Financial Services has successfully completed the bet on the transaction volume and the scale to be collected, and is expected to receive rewards for over-completed bets.
Finally, Zhang Yida concluded:
“Currently, we at Yimin Financial Services have gone through the most difficult period.
After the bet is exceeded next month, we can start Series B financing.
After Yimin obtains huge amounts of funds, it will soon usher in a new round of take-off.
At present, the company's business model has been successfully implemented. It only needs to continue to expand its scale, and it will definitely be able to make large-scale profits in the second half of the year.
In addition, I plan to officially launch the Nasdaq listing plan next year.
Of course, can it be successfully listed? What will the market value be after it is listed?
This depends on the efforts and dedication of everyone here.
Based on everyone's performance, I will conduct two rounds of equity incentives at the end of this year and in the middle of next year.
Therefore, the opportunity has been given to everyone, and it is up to you whether you can seize it or not."
As soon as these words came out, it was like throwing a huge boulder into a calm lake and creating thousands of waves.
Everyone's hearts became restless. Fan Hongyang and Ding Siyao were lucky. As founders, they received a few points of shares.
Chen Shaojie and Zhuang Chuguang, who joined later, did not have this kind of treatment and relied on equity incentives to get a share of the listing feast.
Fan Hongyang controlled the fluctuations in his heart and asked tentatively:
"Mr. Zhang, are you a little too hasty?"
Zhang Yida probably understands what he means. We have only completed the transaction for more than half a year and have just achieved some results. Are we considering listing it?
Zhang Yida didn’t want to be so early, but his senior brother Tang Lin will lead Yiyindai to ring the bell on the New York Stock Exchange next December, achieving the reputation of “China Mutual Finance’s first overseas listed stock”.
Zhang Yida decided to steal the limelight. Without him, the gimmick was too big. The company's brand was directly upgraded to a new level.
And many subsequent strategies and plans are inseparable from this tiger skin.
The conditions for listing on the New York Stock Exchange are too high. Just three consecutive years of profitability would be a stumbling block for Yimin Financial Services.
The minimum requirements for listing on Nasdaq are as long as the company's pre-tax profits reach US$1 million and net assets reach US$15 million, regardless of operating years.
Or it doesn’t matter if the company is unprofitable. The condition is that the total assets, total revenue, and total market value reach more than 75 million US dollars. It can also be listed directly without considering the operating years.
Zhang Yida looked at Fan Hongyang and said:
"Are you anxious? I don't think so!
We will start to make profits in the second half of this year, and our profits will only be greater next year. We cannot reach the New York Stock Exchange, but Nasdaq can easily.
We must seize the title of “the first listed overseas mutual fund stock”!