Chapter 564 [Mihayou withdraws the IPO application on the Science and Technology Innovation Board]
Lao Yao's lower limit of millions of closed orders is pressed here. No one dares to pick it up, and no hot money or big money dares to pry it open, because it is impossible to pry it open.
Even some of Big A's most ferocious death squads and those who want to rebound cannot be in this position to rebound.
Although he is cruel, he is not stupid...
The onlookers gradually dispersed after joining in the fun in the morning. Most of the people who were still active in the comment area or time-sharing barrage were trapped people, either cursing, laughing at each other, or
Make up jokes or something.
In Big A, this is not the first time, and it certainly won't be the last time.
But speaking of today’s market situation, the three major indexes opened higher in the early trading and then fluctuated upwards. At the close of the day, the three major indexes all closed up by more than +1.4%.
The sharp rise in the index is most likely due to the big butt exerting its strength. Today's market price is the result of the strength of heavyweight stocks. The banking sector and the liquor concept sector are strong, and the brokerage sector is not lagging behind today.
The strength of the large financial sector also brought the index close to the 2,600-point integer mark. Unfortunately, it did not successfully regain this integer mark today. The banking sector did its best today. Although the brokerage firms did not play against the market and hindered the market, there was nothing eye-catching.
Performance.
The Oriental Demon is dead, the market lacks hot spots, individual stocks performed mediocrely, and the market continues to maintain a structural market pattern. However, today the heavyweight sectors are exerting force, and the index is moving very beautifully.
In terms of news, the latest news from overseas has attracted much market attention, that is, the FTSE Russell Global CEO said in an exclusive interview with a reporter from the Securities News yesterday that with the official inclusion of A-shares into the FTSE Russell Global Index system in June this year, it is expected that
There are US$10 billion of passive investment funds entering the A-share market, and in the next three to four years, as the inclusion ratio increases, an additional US$50 billion will enter the A-share market.
Many people interpret today's sharp rise in the index as good news. From the perspective of the scale of funds, US$10 billion is really not much. Excluding the exchange rate, it is less than 70 billion yuan. With the amount of funds, Tiansheng Capital is now
The liquidity in hand can completely blow it up.
…
During this period, Lu Ming was mainly busy with work on the Science and Technology Innovation Board. The specific work was the preparation of Tianchi Technology's prospectus, cooperation with underwriters, including the listing of Pinduoduo and Mihayou.
The top priority among them is Tianchi Technology. This is a listed company at the sub-market level of the Science and Technology Innovation Board. Its status on the Science and Technology Innovation Board is like Tiansheng Holdings on the main board, or Ningde Times in the future on the GEM.
A billion-level behemoth was something Lu Ming had high hopes for.
"Come in!"
Lu Ming, who was working in the office, heard a knock on the door and answered, and assistant Han Qiulin walked in slowly.
"What's the matter?" Lu Ming browsed a piece of information in his hand.
"Some changes have occurred in the IPO work of the Science and Technology Innovation Board." Han Qiulin said as she walked slowly.
Hearing that there was a problem with the work on the Science and Technology Innovation Board, Lu Ming immediately put down the document in his hand and looked up at Han Qiulin, who continued: "It has something to do with Mihayou. They just sent us a notice.
letter, its management reached a consensus after final discussions, and they decided to voluntarily withdraw the IPO application for listing on the Science and Technology Innovation Board."
Hearing this, Lu Ming was quite surprised. Han Qiulin also handed over the printed content of the letter. Lu Ming took it and quickly scanned it.
After a while, Lu Ming roughly understood the reason. He closed the letter and thought for a moment before saying, "Okay, respect the decision of the founder team. Regarding Mihayou's IPO, we can also stop related work here."
Han Qiulin was surprised by Lu Ming's decisive decision.
She knew that Mihayou was a company that Lu Ming attached great importance to, and she also knew that it was the second company Lu Ming had invested in.
Mihayou is an Internet cultural company that deeply cultivates the two-dimensional culture with animation, cartoons, games and other products as its carrier. Its main business is the development and operation of games, comics, animation and other Internet cultural products based on original IP, the "Honkai" series
Game products are one of its masterpieces, and operating income has also maintained rapid growth.
The company's revenue in 2017 exceeded 1.1 billion, with a growth rate of more than 160%. At that time, it had already shown a high-profit development trend. Mihayou's current development trend has also made the industry pay more attention to Lu Ming back then.
Relished in his vision.
Han Qiulin couldn't help but said: "You attach so much importance to this company and it has a bright future, why don't we lobby for it? Unlike other companies, Mihayou itself has determined its intention to be listed on the A-share market, and its company structure is also based on domestic capital.
What the company has built, the obstacles are much less than those of Pinduoduo.”
Mihayou has received a total of two financings since its establishment. The first one came from a domestic angel investment of 2 million yuan. Then Lu Ming came to visit, convinced its founder and invested 500 million yuan in financing at that time, and obtained
to 25% of the shares.
When the news came out, everyone in the industry thought that Lu Ming was either crazy or stupid and had too much money to spend. Now it seems that this investment was a waste of money. Mihayou has not accepted other investments since then, even though it was rumored now
In order to "get on board", Goose Factory will let Mihayou operate under any conditions without being moved. Therefore, the company's shareholding structure is relatively simple and its pedigree is very pure.
In fact, when Lu Ming came to the door, MiHoYo was actually not short of money, and it is not short of money now, and it will be even less short of money when the super cash cow "Genshin Impact" is launched soon.
Lu Ming glanced at Han Qiulin and smiled: "I promised at the beginning not to interfere with the operations of the founder team, and I can't keep my word."
Han Qiulin didn't believe what he said. There were preconditions, but since he said this, it meant that he recognized the company's current direction. If it really didn't meet his expectations, Han Qiulin knew that he would definitely intervene, or just
Divest money and get rid of people.
Lu Ming typed the letter on his desk and joked with a smile: "Technical nerds can really save the world. Everything about MiHoYo comes from a two-dimensional game, which shows that two-dimensional games have not only won domestic games.
market, MiHoYo is very likely to win the world's game market in the future. Today's game companies do not understand the second dimension and will suffer losses in the future, and they will suffer big losses, because not understanding the second dimension means giving up competition."
Having said this, Lu Ming looked at Han Qiulin and said with a smile: "The terrible thing is that it is difficult to cultivate two-dimensional talents. It can even be said that top talents cannot be cultivated. They need to be naturally generated. Moreover, two-dimensional users have obvious convergence and are treated equally or even slightly."
Low capital is willing to go to typical two-dimensional companies, such as Mihayou, Bilibili, etc. This is the result of in-depth research and massive data analysis by the investment research and analysis department. The co-founder of Mihayou is an 'old two-dimensional'
Already."
Han Qiulin said curiously: "Then what is your current valuation of the company?"
Lu Ming said without hesitation: "Based on the valuation of the big A game sector, a rough estimate of at least RMB 120 billion is not too much. Considering the company's growth rate, it is not impossible to be valued at 200 billion in the next two to three years."
When Han Qiulin heard this number, she couldn't help but froze for a moment. After reacting, she stopped her expression control and said with a leisurely sigh: "Even after working with you for so long, I still can't understand your valuation logic."
What is the concept of 200 billion? That means that Mihayou will become the third largest game manufacturer in China after Penguin and Netizen. It also means that Mihayou intervened between Penguin and Netizen in advance before the byte instigation.
fighting method.
Actually, Han Qiulin couldn't understand that she was also being cleaned up because she didn't have the ability to foresee things. And Lu Ming knew that Mihayou's net profit next year is conservatively estimated to be close to 5 billion, which is a profit that instantly kills a large number of listed companies in Big A.
, the growth rate is close to about 500%. "Genshin Impact" is so profitable that its net profit has exceeded that of Sanqi, Perfect and other peers, ranking third in the industry after Penguin and Wangxiang.
Different from the previous life, today's Mihayou received 500 million in financing because of Lu Ming, and the investment was even greater. When the Mihayou team received this financing, there was another factor, which was that they were afraid of new projects.
Overturning the situation, with this investment, I have greater financial confidence and have capital to protect myself.
Today's Mihayou is definitely better than the previous one.
With a net profit of more than RMB 5 billion, even according to Big A’s valuation of the gaming industry, Mihayou’s future will be a super unicorn with a valuation of RMB 100 billion.
Han Qiulin looked at Lu Ming again and said: "Since Mihayou is going to withdraw its IPO financing, who will make up for this gap?"
"This is the key issue that needs to be solved immediately. Fortunately, such a drama didn't suddenly happen on the eve of the listing that caught me off guard. The time is indeed tight now, but there is still time to adjust..." Lu Ming nodded and quickly added
: "Currently, I am the major shareholder of Tiansheng, which has not yet been listed. What other investment targets are eligible for listing on the Science and Technology Innovation Board? Aren't they registered?"
