Sun Dahai is moving forward step by step according to his own ideas to realize his dream.
Since the development of the Building the Future Department, the asset size has already exceeded the tens of billions of dollars. What is even more surprising is that there are very few bank loans in the Building the Future Department.
The only major loan holder is No. 9 Hotpot Restaurant. So far, it has about 20 to 30 million US dollars in loans. However, compared with its tangible asset valuation of 300 million US dollars, the capital responsibility ratio is appallingly low.
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In accordance with Sun Dahai's "cash is king" business philosophy, the company maintains more than one billion U.S. dollars in liquidity at any time, as well as billions of U.S. dollars in short-term realizable assets.
Such a strong family background has laid a solid foundation for the future development of Sun Dahai's various industries.
It is still the late 1980s, and the concept of venture capital has not yet become popular. Zhu Lihua can understand the simple situation of venture capital. Thanks to her best friend, she helps her boyfriend do it, so she knows a little bit about it.
Sun Dahai is not in a hurry. It will not be too late to establish such an angel investment company in a year or two.
Sun Dahai remembered that he had seen data in his previous life. Before entering the 1990s, there were less than a hundred registered venture capital companies around the world, and the total equity capital was only more than 100 million US dollars.
Half a step ahead is a genius, one step ahead is a madman.
Sun Dahai still hopes to survive as long as possible. The rafters in the lead will die first. He understands this principle.
As for saying you can't do venture capital without setting up a venture capital company, that's nonsense.
Aren’t Dell and Cisco invested by Blue Ocean International investments in the venture capital category? It’s just that Blue Ocean will continue to hold these two companies after they go public.
In other words, the nature of this investment has changed from a venture capital investment to a long-term project investment. You can follow it all the way to avoid having to worry about it again when transferring positions.
With the above three investment companies, Sun Dahai believes that his own construction will have full power to move forward in the future.
As for Youlian, Huanyu Trading Company, No. 9 Hotpot Restaurant, and the Lan Kwai Fong project, they were all done casually without much effort.
As for how these companies will develop in the future, Sun Dahai does not have a complete plan. He can only let the management of these companies explore their own way first and wait until they encounter major problems or bottlenecks.
This is a simple plan Sun Dahai made for the development of his enterprise.
As the leaders in development, the three major investment companies have attracted much attention from Sun Dahai.
The other two companies are already on the right track, so Sun Dahai doesn't have to worry too much. Therefore, he did not forget to take Zhu Lihua with him during the Chinese New Year to make plans for the venture capital company.
When Sun Weiguo happened to pass by the study, he heard Sun Dahai doing science popularization for Zhu Lihua, Gao Yi and Hu Cheng. He thought it was quite interesting, so he went in and listened for a while.
At this time, Sun Dahai was giving a long speech.
"From an investor's perspective, we can divide the development process of a company into the following stages.
The first is the gestation period.
This stage is the process in which entrepreneurs discover and improve their business philosophy, create their own business ideas, develop personal relationships, and find collaborators.
This process is too arbitrary, has frequent accidents, has a very low probability of success, and is not suitable for investment.
Next is the incubation period.
This is the stage when entrepreneurs or entrepreneurial teams realize their ideas and establish a company or company prototype (loose organizational model such as studio, cooperation group, research group, etc.).
You can already participate in investment at this stage. Although the risk is still extremely high, since entrepreneurs at this stage do not have a large demand for funds, there is still a certain investment value.
However, investment in the incubation period is not suitable for large funds pursuing investment interests, but is more suitable for public welfare funds with policy support.
The third stage is the growth stage.
This stage is the fastest growing stage for enterprises. It is also the stage when enterprises are most affected by external conditions such as funds, resources, and policies. In particular, the lack of funds is the biggest problem that restricts the accelerated development and expansion of enterprises at this stage.
Therefore, venture capital companies should focus on companies in the growth stage. Compared with the first two stages, companies in the growth stage are almost in a semi-transparent state.
At this time, the company's business situation, development ideas, financial status, and core competitiveness are all traceable in the eyes of experienced venture capital managers.
In the same way, due to their strong need for rapid expansion, companies in the growth stage have their thirst for funds at their greatest peak. This is the best time for venture capital companies that are prepared to exchange money for shares to bargain with the company and obtain maximum benefits.
The fourth stage is the maturity stage.
At this stage, the enterprise has reached a certain scale and strength, and has formed a set of concepts, systems and procedures suitable for its own development.
This stage lasts for a relatively long time, and companies are accumulating in the process of running in and making various preparations for the next stage of outbreak.
But this kind of outbreak is a double-edged sword. It may bring the company to a higher level and open up a new situation; it may cause the company to enter a period of decline early because the development strategy formulated does not meet the actual situation or the execution power is insufficient.
The channels and means for companies in the mature stage to obtain funds are diversified, so their demand for funds has gradually decreased, and their control over equity has begun to strengthen, so they are not friendly to venture capital.
Companies during this period are more willing to establish strategic cooperative relationships with upstream and downstream companies through share swaps or small cash acquisitions.
The last stage is the recession stage.
Needless to say more about this stage. Although there are many business opportunities, it is mainly done by companies engaged in asset mergers, acquisitions and reorganizations. There are many tricks in it, so we will not go into this muddy water."
Sun Dahai didn't speak very fast. Zhu Lihua and the others listened and took notes with their pens. At the same time, they also set up a tape recorder on the desk in front of Sun Dahai to record to prevent anything from being forgotten.
They all know that Sun Dahai is lazy and does things very casually. He makes a hammer here and a stick here and there. He rarely summarizes a single matter carefully and elaborates his own ideas in a relatively complete manner.
Now, since he is willing to talk more, everyone must listen carefully. Everyone admires Sun Dahai's foresight and prediction ability.
After listening to Sun Dahai's words, Sun Weiguo asked: "Dahai, according to you, our previous acquisition of stocks in those companies undergoing shareholding reform can be regarded as venture capital, right?"
Sun Dahai smiled bitterly, shook his head, and organized his speech: "Dad, I'm not very clear about the shareholding reform companies you mentioned. But the venture capital we call generally invests in small companies in emerging industries, with high
Mainly in the technology industry. Because only such companies, once their operating conditions are met, will have explosive value-added potential."