On November 23, Liu Songcheng, president of Netflix Software, announced that Sina, an Internet website with the slogan "Bring China to the world and bring the world to China", will be listed in Hong Kong on December 10.
Sina., which is listed in Hong Kong, plans to raise HK$820 million (25% equity) for technology development, market promotion, business expansion, e-commerce, strategic investment, working capital, etc.
Sina has issued more than 30,000 prospectuses and more than 500,000 subscription forms. If the subscription forms run out, more will be printed.
For a time, it attracted widespread attention from the Chinese community and the global information community, and the market responded enthusiastically.
"The first Internet-themed stock in Hong Kong, plus it is owned by Mr. Lin Zuhui's Internet, this is a new stock that has 'increased ten times'. You can make money just by buying it."
"Isn't that right? Mr. Lin is a technology tycoon second only to Bill Gates (ranked in the United States this year). His icq software is said to have rejected Microsoft's $3 billion offer. This Sina website is also worth the price!"
"Brother, do you know what Sina is for?"
"I don't know! If I want to know what it does, all I need to know is that it is a company owned by Mr. Lin Zuhui!"
"Uh...big brother, talk about it!"
For a time, relying on the popularity of American technology Internet stocks and Lin Zuhui's signature, Sina became the "Tang Monk Meat" in the hearts of Xiangjiang citizens, and they all asked where to send subscription forms.
that day.
Sina held a press conference. President Du Huide introduced the situation of Sina and answered reporters' questions.
Sina.com has been in operation for almost a year. It is the only super portal across the Greater China region, providing "knowledge of Chinese affairs" information to the overseas world, and providing "Chinese fashionable life" to global Chinese in the Greater China region and overseas Chinese communities.
” and e-commerce services.
The content includes tourism, culture, science, academic, art, fashion, games, news, sports, entertainment and other projects. In addition, the company will operate three main portal websites under the name of sina. to provide content and services. These portal websites will
Localize and launch featured websites in major Chinese communities around the world, including Chinese Taipei, Singapore, bj, Shanghai, Sydney, San Francisco and Vancouver.
"May I ask President Du Huide, how does Sina plan to make profits in the future?"
"The company's main profits in the future will be advertising revenue, expected product and service transaction and subscription revenue, commission revenue and content supply revenue."
"President Du Huide, what specific aspects does Sina.com's business expansion refer to?"
"Acquire advertising companies in Greater China and enter the field of game development, publishing and other businesses."
"Game development? Doesn't it overlap with the business of sister company The9? Moreover, how can the small Xiangjiang digest a large number of game industries?"
"You have said that Hong Kong is a small city. Logically speaking, even a game company cannot survive. So how did The Ninth City achieve sales of tens of millions of units? Of course it is exported overseas! The game industry is a 'cultural revitalization of Hong Kong'
' has been included in the government-supported industry, so we will wait and see!"
The9 has proven with facts that the game industry is a global field, and good products will naturally have no worries about the market. This is recognized by Xiangjiang.
At this time, The9 has assumed the role of Xiangjiang's game publisher. Even products from other studios can still be sold overseas through The9's distribution channels, and The9 has already launched games in mainland China, the United States, and Japan.
Waiting for dozens of countries to establish distribution channels.
In fact, in Lin Zuhui's plan, Sina.com will never repeat the mistakes of Tom.com in its previous life and become a "sentimental sideline" website.
Therefore, Lin Zuhui did not expect the portal website to become the only business of Sina.com, but had other plans.
For example: game development. Although it overlaps with the business of The9 and ATV Group's game department, Lin Zuhui has distinguished it. Among them, The9 specializes in developing games that Lin Zuhui played in his previous life (mainly developed in South Korea);
The game departments of the other two companies rely on Xiangjiang's overall game development capabilities to develop games independently.
This is like a cycle of conscience. Lin Zuhui has laid the foundation of talents and environment for the Hong Kong game industry. Even if he does not interfere with the establishment of game projects, I believe that his strength is still very competitive; of course, if Lin Zuhui projects some classic games, it will be more
The entire environment has benefited a lot.
Just one game development can give Sina a great prospect. After all, three of the top ten richest people in South Korea in the previous life were game company owners. Among the four major portals in the mainland, NetEase far surpassed Sohu and Sohu.
Sina relies on games.
The reason why developing online games is so profitable is because online games are agents abroad and in the mainland. Developers make profits based on commissions, not just an agency fee. This commission is not only stable in the long term, but is generally as high as 25
% or more, very profitable.
In addition to the game business, Lin Zuhui also planned for Sina to develop a series of Internet businesses such as "cloud computing" and "video network" in the future.
In short, Sina is Lin Zuhui’s Internet signature.
As for icq, although it has great prospects, it still aims to sell it at a high price.
........
Starting from the next day, Sina. began to distribute new share subscription application forms. A large number of people lined up for two consecutive days, and 500,000 application forms were sold out.
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Some securities firms described the situation of retail investors entering the market as almost crazy. Some large retail securities firms have even suspended the registration of new customers because they cannot cope with the sudden increase in new registered customers.
People in the securities industry pointed out that Sina.com's IPO activities were so crazy. In addition to being a technology stock, the major shareholder has a prominent background, and the number of shares offered for public sale was limited, so it naturally caused a sensation.
It is estimated that it would not be surprising if the subscription was oversubscribed several thousand times.
Sina. In this IPO, a total of 428 million new shares were sold, but only 10% were available for retail investors to subscribe (15% were institutions).
The day after the application forms were distributed, underwriter Peregrine (which had been privatized by Barings Bank) printed an additional 500,000 copies after sending out 500,000 copies the day before.
Long queues of people had formed outside the Octopus Bank branches responsible for distributing application forms early in the morning. Outside one branch, people queued up at 3 a.m., and there were more than 400 people there before it officially opened for business.
Because the branch once announced that it would not distribute new forms, which aroused dissatisfaction among shareholders, the branch had no choice but to decide to distribute new forms and ask the police to maintain order.
At the head office of Octopus Bank in Central, there was an unprecedented queue at the front desk. The queue was as high as 5,000 people at one point.
Among the queue of people collecting watches, there were elderly people, Filipino maids and women holding babies, and many of them were couriers assigned by the company to come here to collect watches.
Many citizens who returned empty-handed asked if they still had application forms, and bank staff quickly reassured them that the relevant agencies were in the process of printing them.
By Saturday, a frenzy for subscribing to Sina shares was once again underway. About 300,000 Hong Kong citizens braved the rain and rushed to 10 designated Octopus Bank branches to hand over subscription forms.
Because there were too many people at the scene, the police were dispatched to maintain order. This was an unprecedented phenomenon in the history of Hong Kong stocks. During this period, some accidents naturally broke out, causing traffic jams and some people even being hospitalized because of fights. Therefore, the Securities and Futures Commission also
A warning was issued to the sponsor Peregrine and the beneficiary bank Octopus Bank.
People in the Hong Kong securities industry are delighted to believe that this subscription frenzy can invigorate the GEM, whose enthusiasm has cooled, and can attract other Hong Kong consortiums to spin off technology businesses and list on GEM.
.......
Sina's headquarters is in Xiangjiang, and its regional headquarters are in Beijing and Taipei.
On this day, Lin Zuhui attended a high-level meeting of Sina.com, including Wang Leilei, general manager of operations in China, and Sun Gaoyin, general manager of Taiwan operations, all came to Xiangjiang for a meeting.
When everyone saw Lin Zuhui walking into the conference room, the first reaction was to stand up and say respectfully: "Hello, boss."
This is also due to the lack of contact with Lin Zuhui. In group meetings, Lin Zuhui does not allow everyone to stand up, which seems unnecessary.
"Sit, sit, be less polite!"
Having said that, everyone still waited for Lin Zuhui to sit down before sitting down one after another.
Lin Zuhui looked at the group of senior executives. Among them was a senior executive from the third generation of mainland China. Tom.com will always operate the portal in the mainland. Naturally, it needs a mainland team to take charge of mainland affairs. Therefore, Wang Leilei, a person with strength and background, naturally
It's a good choice.
This is not about taking care of others, but because others rely on their true abilities. If we talk about taking care of him, Lin Zuhui has naturally taken care of the descendants of a large family who came to Hong Kong to do business, but it was just a matter of saying something.
"President Du, you come to the meeting, I'll listen first!"
Du Huide nodded quickly, and then organized the conversation to formally hold a meeting in front of the big boss.
"Sina.com raised 820 million in funds from its listing, which was actually used to expand its business. After all, we have invested hundreds of millions in the early stage to lay a solid foundation in the technology field, and Sina.com has been operating for nearly a year and is the largest investment bank in the world.
The portal website with the highest traffic in China, even in the Mainland, is No. 1."
"However, we lack profits and need to turn losses into profits! Therefore, the first step for Sina to go public is to acquire print advertising companies in various provinces in the mainland. To dominate outdoor advertising in the mainland, we must complete it within one year...
...The acquisition method is cash and stock...while acquiring, integrating these scattered print advertising companies to form a cash cow."
This was a strategy formulated in the early days, but Lin Zuhui knew that as overseas companies entered China to develop business, mainland outdoor advertising has entered a booming morale, and there will be a dividend period of at least ten years.
Of course, what Internet companies pay attention to is beautiful financial reports, which also requires such a development approach.
The development model of Sina in the early days was indeed similar to that of Tom in the previous life, but it was actually very different. At least the layout of Sina was similar to that of mainland portals, and it was the layout model of the previous and later generations.
Lin Zuhui said: "Okay, this plan must be fast and accurate. When making acquisitions, consider more stocks and a small amount of cash!"
"Yes, boss!"
In the previous life, Tom.com had a market value of 30 billion U.S. dollars. This was the reason for the investment. You must know that the market value of nel, the world's largest outdoor advertising company, has exceeded 50 billion U.S. dollars.
The reason why Lin Zuhui said that he should consider stocks more is that, after all, Sina.com is not unexpected, and it will soon open to more than 30 billion Hong Kong dollars; and next year will be the Internet boom year, and the market value will exceed 100 billion. It will not be a problem.
And after 2000, the market value will definitely plummet again, so why not use stocks!
It’s just a bubble!
Then, Du Huide said: "The next step is to expand the business in Taiwan. We have already investigated and are preparing to acquire the four major printing and publishing groups in Taiwan, including PE Publishing Group, Chengbang Cultural Industry Co., Ltd., etc."
Lin Zuhui added: "It's just acquiring magazines and publications, don't get involved in the newspaper industry, remember!"
"Yes, boss!"
Not to mention, it’s not that Lin Zuhui can’t enter Taiwan’s newspaper industry, it’s that he simply doesn’t want to.
This year, the boss of a major newspaper group in Taiwan took the initiative to invite Lin Zuhui to become a shareholder, but he declined the invitation.
At the same time, Hu Xian recently also wanted to sell him the equity of Sing Tao Newspaper (retaining the management rights), but he also declined; of course, he ignored the past and bought the remaining part of Haw Par Villa, and then planned to repair it and donate it
To Hong Kong Tourism Bureau.
The reason why Hu Xian is so miserable is that he lost more than a billion in real estate speculation and now owes hundreds of millions of Hong Kong dollars to the He family, a tobacco company. The He family wants to buy Sing Tao Daily and hand it over to his son to run it and pass it on as a business.
Analyzing from the economic level and policies and regulations, among the newspapers in various parts of the country, the competition in the Hong Kong market is very fierce, and it is not easy to break into the Hong Kong newspaper industry. As for Taiwan, the level of competition should be better than that in Hong Kong, but in the past two years, the local
The business conditions of the newspaper industry seem to have entered an adjustment environment.
Then, Lin Zuhui asked: "Manager Wang, what about you, do you have any suggestions?"
Wang Leilei was immediately shaken. When Lin Zuhui looked at him, he felt that this was a kind of pressure that only he had ever had contact with high-level officials.
"That's right. I think Sina can increase its development efforts in wireless value-added services..."
After listening, Lin Zuhui said: "Yes! But as the general manager of the mainland business, you cannot be partial to the subject. You must make suggestions for the overall development of Sina. Moreover, you must communicate more with the headquarters and learn. You must know that Sina's business will become better and better."
It’s getting bigger and bigger.”
Wang Leilei said quickly: "Okay, boss!"
Du Huide is a Taiwanese American and is the president recruited by Matrix Partners for Sina.com, so he is taking care of the overall situation, and Lin Zuhui is very relieved.
Sina.com in this life is definitely not Tom.com in the previous life.
Some of the businesses just mentioned are just preliminary developments to drive up stock prices.
Of course, the basic business is the portal website. News, entertainment, sports, tourism, culture, science, academics, art, fashion, games and other information are what netizens are currently willing to see.
The games here are just game information, reviews, and strategies, not real games. The mainland does not allow foreign investment to operate games; therefore, future games developed by Sina can only be distributed through mainland agents.
Fortunately, Kingsoft Games’ game department, Kingsoft Games, is Lin Zuhui’s layout.
Although Jinsoft Software is not currently listed in Xiangjiang, its development is better than in its previous life. It has thousands of technical personnel, which can be said to be strong.
After a meeting, Sina's development plan for the next year was determined.
Lin Zuhui is somewhat looking forward to how far Sina's market value will break through before the bubble crisis.
You know, Sina.com is just a subsidiary of Wanhui Media and a subsidiary of Netflix Software; while Netflix Software not only includes Sina.com, but also icq, Sitong Intelligence... and Netflix Software's own business is still
There are 'software outsourcing' and agency websites (yahoo and other American Internet).
If this continues, how high will the market value of Wanhui Media be?
And to what extent will Lin Zuhui's wealth grow before the Internet bubble crisis?
I'm afraid he controls the market value of the Hong Kong stock market, which must be more than 30%, right?
If he acquires Hong Kong Telecom, wouldn't he control 35% of Hong Kong's market value?
Too high profile!
Of course, it still can't compare to Bill Gates' wealth, because Bill Gates' wealth next year will exceed 100 billion US dollars.
But if the Internet bubble ends, Lin Zuhui believes that there will be no problem for him to return to the world's richest man.
Don’t forget, his New Era Group is an industrial company!