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Xiao Ya believes that the plan proposed by Qing Yun actually means that he sold 34% of his equity and received 20.4 billion in funds.
After deducting the 3.4 billion investment in the replacement registered capital, it is equivalent to the other parties adding up to giving him 17 billion in free funds.
Theoretically, Qing Yun can transfer this capital premium to paid-in capital at any time, and can transfer it to his own name or the name of Yanhuang Group, thereby diluting the equity of other parties.
In other words, the little kid retains the ability to overturn this equity structure at any time.
However, the idea is beautiful, but the reality is cruel.
It’s hard to say anything else, how could the state-owned assets agree to such conditions!
It is better for everyone to invest in the same proportion, and then find state-owned assets to obtain interest-free long-term loans from shareholders.
Although the money must be repaid, it is not responsible.
For those little kids who now have hundreds of millions in profits every month, and even more than a billion in profits every month in the future, money already has a digital meaning, and there is no need to look so ugly.
Qin Manman was also beating the drum beside him, "Yes, brother, Sister Xiaoya is right, there is no harm in playing it safe, we are not short of money now."
< p>Even Tang Qianying and Zhang Li, who didn't know much about capital operations, understood it, with looks of concern and worry on their pretty faces.Qing Yun, who was questioned by the girls, did not rush to speak, but chose to remain silent.
He sat in his seat, his eyes firmly and deeply examining the microexpressions of every girl present.
Without exception, he saw doubts and worries in their eyes, as well as the concern in his eyes as he suddenly became silent.
Being questioned by them collectively, Emperor Yun did not feel depressed or discouraged.
On the contrary, a warm current surged in his heart.
He is not a masochist, it is just because it is a good thing and it makes him happy enough.
They are all women with independent thoughts. They will not blindly follow his words, but will use their own wisdom and judgment to examine problems.
Such a woman is the partner he really needs.
He can't always be right.
As humans, we make mistakes sometimes.
He also needs someone to bravely stand up and wake him up when he makes a mistake.
This has always been his creed.
However, regarding today's matter, he believed that he was right.
Qing Yun took a deep breath and spoke slowly, with a calmness in her voice,
"First of all, I want to declare that there is nothing wrong with my mentality. There is no way of thinking about taking advantage of the country."
As he spoke, he looked at each girl one by one and looked at them firmly, his eyes full of sincerity. and determination.
He knows that at this critical momentAt this moment, he needs to let them understand his decisions and considerations.
When the girls heard this, they looked at each other.
Qin Manman curled his lips, with a hint of ridicule in his tone, "It's good that you know it's not drifting, we're afraid you won't be able to find it for a while."
Qing Yun Weiwei He smiled, stretched out his hand, held her little hand, and continued his explanation in a gentle but firm tone,
"Manman, I know what you are all worried about. But please believe me, every time I Every decision is made after careful consideration.
I will never risk our future.
Investment at this time is actually the most economical for state-owned assets. method.
Once the results of the institute are revealed, its value will be different.
By then, if state-owned assets want to invest, our current valuation will at least be higher. Add a 0.
I believe that those who are involved in political affairs in our country’s political research office have a poor reputation among the public, but they are all economists who really understand economics.”
Speaking of this, Qing Yun paused for a moment, letting this information settle in their hearts, while she was also thinking about it.
Every change was full of criticism and doubts at the time. But looking back a few years later, I can only say that there were too many senior people in the political research office.
It is not something that Internet celebrity economists can compare with.
A dog that bites does not bark.
How can economists who truly have the skills to govern a country and slay dragons have the time to bbb on the Internet?
And regardless of whether the big guys in the political research office can figure this out, capital will definitely figure it out.
Sometimes the logic of capital is extremely cute.
In the primary and secondary markets, under certain circumstances, the value will be inverted.
That is, the valuation in the pre-IPO round is greater than the value when it is actually listed.
This situation is even more obvious when it comes to projects that everyone is rushing to grab.
Furthermore, Qing Yun is very sure that once the Hardware Research Institute produces something, he will not need to raise funds at all.
The revenue generated by the domestic market is enough for him to carry out iterative upgrades.
Because he is working on the industrial chain, and he is not trying to save face by immediately competing with the international advanced level.
His initial products were products for mature markets, low-end, and something everyone had to fight on price.
The semiconductor industry, which requires huge investment and has a long return cycle, is a winner-takes-all industry.
On his road from low-end to high-end, if he can go up, he will naturally eliminate many opponents.
Being in China’s local industrial chain, looking at the world, with mature technology, who can beat him in a price war?
Because of the completeness of the entire domestic industrial system and the 250 million people who have completed compulsory educationThe magnitude of the industrial workers it has produced made China become the world's factory in 2001.
In 20 years, this number will no longer be just industrial workers who have received compulsory education, but industrial workers who have received higher education.
This cannot be replicated by any country.
Population and group quality cannot have both at the scale of hundreds of millions.
This is what our ancestors used to enjoy rice.
There are only a few countries in the world that can produce such a large population of industrial workers with an army, and the land carrying capacity is there.
And it is the only one in the world that can balance the population and group quality so well.
Therefore, China is the world's factory as never before, and this dominance will continue for several years.
Thinking of this, he continued,
“If the state-owned assets really wait until the results are produced before investing at a low price, this may be regarded as unfair pricing in the capital market. , and even constitutes our transfer of interests to state-owned assets.
Don’t laugh, this is not a good thing. On the contrary, this will be very fatal in our operations.
The development of Yanhuang Group brings huge risks.
Especially on the international stage, European and American countries will have sufficient reasons to believe that Yanhuang Group is a state-owned company of China, which will affect our ability to enjoy the treatment of market entities. Status."
At this point, he shrugged, "They will think that Yanhuang Group is a Chinese institution, not a company."
Although the later generations of Xiaoyuan Gao. During the Wall Era, America didn't care what your capital attributes were. As long as there was a threat, America would award you with the "Congress Strictly Selected" Medal.
However, in the past ten years or so, this market subject status was still very useful.
There is no need to be tough on yourself when it’s time to grow.
Listening to Qing Yun’s analysis, the girls all showed thoughtful expressions on their faces.
Qing Yun’s words revealed not only an accurate grasp of the current situation, but also far-reaching considerations for future development.
Whether it is right or not, it seems that this is indeed a well-thought-out decision.
“So,” Qing Yun concluded, “this is a win-win decision, beneficial to both the country and our group.
The current valuation of the Hardware Research Institute, It’s not completely pie-in-the-sky.
Even, it shouldn’t be called valuation.
It’s based on an in-depth understanding of industry development trends and a full assessment of the potential of Yanhuang Hardware Research Institute. The final project budget is estimated.
What the country has to decide is whether to invest in me. Regarding the price, I believe the country still has people who understand. At this time, a big account needs to be settled.
I am not shouting about a valuation of 60 billion, but I will actually spend 60 billion, 10 billion is the registered capital, 50 billion is my interest-free loan to the shareholders of the institute.
In other words, the initial start-up capital of more than 80 billion yuan for the entire project is a question of whether it is enough, not whether it is worth it. ”
Qin Manman and others listened to Qing Yun’s analysis with expressions of understanding on their faces.
They were all convinced by Qing Yun’s logic and plans for the future.
However, Mr. Chen frowned at this time. She raised a key question,
"My dear, since it is not a valuation but an estimate, then the question is Come on, where do we have 60 billion? ”
The Yanhuang Group has taken a look at the basics. Even including the income rights after the top industrial park becomes a commercial real estate project, the current book value is only worth tens of billions...
The income rights cannot be realized immediately
The Mayflower Lady Fund raised by Qin Manman has 20 billion, but this money is used to acquire other companies. It cannot be directly added to Yanhuang Group's own capital pool.
The actual own funds of Yanhuang Group are actually very small.
Because Yanhuang is developing rapidly, its operating income is very small. After setting aside working capital, it was all invested in expanding reproduction.
Qing Yun smiled slightly, as if he had already expected this question.
He explained patiently: "This is. It is a dynamic investment completed within a few years, rather than spending all 80.4 billion at once.
What we need is a long-term and sustained capital investment.
He turned to look at Xiao Ya and his tone became serious: "The plan states that all profits of Yanhuang Group in the next five years will be invested in hardware after sufficient working capital is reserved." In the institute. "
His eyes showed a kind of determination, and he obviously had full consideration and confidence in this plan.
When Xiao Ya heard this, a glimmer of understanding flashed in her eyes, and she said jokingly ,
"That is to say, all the funds from other parties will be paid in one lump sum in advance, but the money we want to pay will be paid in installments within five years, right?
You little brat, you are so cunning! You know registered capital! This concept is simply played through by you.
In other words, the soon-to-be-established research institute, in front of state-owned assets, is a leather company with a registered capital of 10 billion and a paid-in capital of 100,000? "
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