Reinventing the Millennium.

Chapter 420 The Uninvited Guest (Two in One)

On December 12, Fang Zhuo arrived in Xiangjiang, an international metropolis, by plane.

The Pearl of the Orient, the Four Asian Tigers, the center of international finance, trade and shipping, this is Xiangjiang at this time.

If Shanghai gradually has the prototype of an international metropolis, then this is the completed metropolis.

Fang Zhuo came to Xiangjiang for the first time, but he has already constructed a concept of Causeway Bay, Xiangjiang movies, battles between wealthy families, and financial predators from newspapers, the Internet, movies, and songs.

This outline concept is of course unreal, but the collision with the Xiangjiang scene in front of him really gave him an extremely novel feeling.

"Mr. Fang, is this your first time in Xiangjiang?"

Xu Kaiwei and Fang Zhuo went to the hotel where they were staying in the same car.

The IPO roadshow was arranged quite tightly. We arrived here at noon and held a salon at the Peninsula Hotel in the evening.

If the response is good, a second session will be arranged tomorrow.

If that doesn't work, take a break and fly to Singapore.

Xiangjiang, Singapore, and the United States, the most important ones are put at the end.

"It's the first time, and the reputation is well-deserved." Fang Zhuo looked at the city and praised repeatedly, "It's too prosperous."

Xu Kaiwei smiled and said, "Fang always thinks whether Shencheng can catch up with Xiangjiang?"

"In terms of GDP alone, Shencheng will definitely be able to catch up, but it may take a long time." Fang Zhuo thought for a while, "Xiangjiang should still maintain twice the distance."

Xu Kaiwei replied: "Last year it was more than double, and Shencheng's GDP was less than 2 billion. This year, the gap may not be easy to close."

Fang Zhuo asked: "Mr. Xu thinks Shanghai can surpass Xiangjiang?"

Xu Kaiwei pondered for a while: "30 years."

Fang Zhuo was slightly taken aback, and then he understood that the euphemistic expression of the president of Goldman Sachs in China was because he was embarrassed to give a negative answer in front of himself, the so-called richest man in Shanghai.

He smiled slightly: "Mr. Xu, from this point of view, my confidence in Shencheng is more than twice as much as yours. Let's not talk about this. Mr. Xu should teach me how roadshows are the main topic."

Xu Kaiwei thought for a while: "Mr. Fang, just show your confidence in Yike next to Victoria Harbor tonight, just like your strong confidence in the development of Shanghai City. Others, answer questions from these institutional customers .”

He paused, and added: "Everyone's questions are usually not too sharp, Mr. Fang needn't be nervous."

Fang Zhuo joked, "I'm afraid I'm too sharp."

Xu Kaiwei immediately said seriously: "Mr. Fang, don't mess around."

"Just kidding, Mr. Xu, I just like to use jokes to ease my emotions when I'm nervous." Fang Zhuo comforted.

Xu Kaiwei breathed a sigh of relief.

Although I have known Mr. Fang not long ago, the relationship between them has been quite deep. Sina, Yike, Bingxin...

Calculated in this way, Mr. Fang's key projects have contacts with Goldman Sachs, and they are mutually beneficial to each other. Generally speaking, it is relatively pleasant. However, I have indeed learned some of Mr. Fang's decisive behavior style, which is really impressive.

The atmosphere in the car returned to relaxation, and Xu Kaiwei often came to Xiangjiang to handle business, chatting about local attractions, food, and even some grievances and grievances circulating among wealthy families.

Fang Zhuo didn't expect Mr. Xu, who is honest and honest, to have a heart of gossip, and he didn't expect to see a rich man who was chatted by Mr. Xu in the salon at night.

Yike's listing roadshow invitation is distributed through Goldman Sachs, mainly to key institutional investors such as investment banks and funds.

The reason why Goldman Sachs previously set the United States as the main roadshow target is because the products supporting Yike’s listing are deployed in the United States and Europe, and the model of hardware + software + music is obviously more acceptable to the United States.

As for Xiangjiang, although many organizations were invited, some were not considered.

For example, PCCW and its chairman Li Zekai.

For example, Wu Zheng and Yang Lan of Sunshine Culture.

If Xu Kaiwei remembered correctly, the road show on the Xiangjiang side did not notify the two companies, but seeing Wu Zheng and Fang Zhuo's lively chat, he immediately knew who the other party was after.

But Sunshine Culture once had close cooperation with Sina, and Wu Zheng also served as a director of Sina's board of directors. Does Superman have any friendship with Fang Zhuo?

"Mr. Fang, I have long heard that there is a very powerful business figure in the mainland. When I saw him today, his reputation really lived up to his reputation."

Li Zekai and Li Xiaochao brought people to the small conference hall of Xiangjiang Peninsula Hotel, and when they returned as uninvited guests, they were more polite in greeting, not as domineering as the son of a wealthy family.

Fang Zhuo had a small fight with He Huang in Shencheng, but he had never seen this little rich man, and he was really surprised to see that Zhou Kaixuan was with Li Jiacheng before.

This Li Xiaochao will not stand up for Zhou Kaixuan, will he?For his father, he wouldn't be so worried that he would come over immediately when he heard his name, right?

Fang Zhuo suppressed his surprise, exchanged polite greetings, but he also recognized the person next to Li Xiaochao, and guessed some possible factors.

Yike once sought financing for music copyrights. In that round, Xiong Xiaoge got in touch with Xiangjiang's institutions, and in the end, Huanyu Capital successfully took a stake.

At that time, the other Xiangjiang company that I was in contact with was the investment department of Yingke, and I met the Vice President Di Yan who was in front of me now.

Fang Zhuo can’t remember exactly the time, but he remembers that Mr. Di kept saying that “Yike can still invest if he focuses on China, but he dare not invest if he has too much appetite to go abroad”.

Now Mr. Di standing next to Li Xiaochao is very well-behaved. As for the other person brought by the little rich man, looking at his exquisite dress and intimate attitude, he is probably his confidante.

"Mr. Xu, is that person you invited?"

Fang Zhuo changed his business cards around, and finally asked Xu Kaiwei.

"No, I thought you knew him." Xu Kaiwei gave the answer.

Don't think too much about things that don't make sense.

Anyway, it's just a road show promotion.

Finally, Fang Zhuo welcomed Xiangjiang's own person in the conference hall, Yike's institutional shareholder - Liang Qihua, director of Xiangjiang Huanyu Capital.

As of now, Huanyu Capital holds 4.77% of the shares, ranking sixth.

"Mr. Liang, I waited and waited until I finally came to Yike's family in Xiangjiang. If you don't come, I don't want to start this road show."

Fang Zhuo and Liang Qihua shook hands heavily, fully expressing the company president's enthusiasm for his directors.

Liang Qihua also showed enthusiasm, turned around and found that the number of institutions present today exceeded his expectations, and there were Li Xiaochao, Wu Zheng and others.

The two chatted for a while.

With Liang Qihua's seat, Yike's road show in Xiangjiang officially began.

Considering Mr. Fang's experience, Goldman Sachs made the settings more relaxed tonight, trying to let everyone get to know such a company president while talking and laughing.

The status of the company is basically included in the prospectus, but the performance of the management during the road show can often affect the judgment of investors.

"It's a great pleasure to stand here today to meet you and prepare for the listing of our Yike."

"Yike was established in 2001, and it has only been developed for less than 3 years so far. Thanks to the development of the Internet, key player hardware, and the music industry, I and all my colleagues in Yike have jointly created a network that spans Asia, European and American technology companies are committed to providing consumers with a more convenient listening experience."

"From its establishment to now, Yike has only done one very simple thing, which is to make people listen to music better."

"The improvement of mp3 player in terms of storage capacity, shape, power, etc. is all for this goal. Similarly, the cooperation between our software iMusic and the record company is also for this goal."

"Now, Yike has achieved a phased result, but this is not enough."

"Externally, Sony's Walkman still has a certain degree of competitiveness. Internally, Apple's iPod has been in fierce competition with us. This IPO is to raise funds for better and faster development."

"According to the market feedback and the judgment of our management, next year, that is, 2004, mp3 players will usher in large-scale growth in Europe and the United States."

"And within the threshold of this kind of growth, there are only two companies that have established a firm foothold. One is Apple, which is already listed, and the other is Yike, which is about to go public."

"The copyright authorization of online music is a very strong moat, which has created a lot of room for our development in the next few years."

"Since Apple released the iPod, its market value has climbed from less than US$60 billion to more than US$200 billion now. It is true that Apple also has businesses such as personal computers, but this part does not account for much in its financial report."

"The secondary market has approved the future development of the iPod with its feet, which also agrees with the development of our company."

"So, both I and Goldman Sachs are very optimistic about the listing of Yike. The impact of the Internet on the music industry has made Sony's players crumbling, and it has also made our development more and more vigorous."

In a small conference hall, Fang Zhuo, with his back against Victoria Harbor in Hong Kong, held a manuscript in his hand, but hardly read it. He talked like this for 15 minutes, without rushing, with a calm expression and a natural typhoon.

Whether it's Li Xiaochao and Wu Zheng who came unexpectedly, or the various organizations who came here by appointment, they all have to praise in their hearts that this young president is quite elegant when talking and laughing.

President Yike's speech was over, without the host speaking, Fang Zhuo directly passed the session to the guests asking questions.

"Mr. Fang, do you think your Yike business model is sustainable?" A fund manager asked.

Fang Zhuo replied: "Why not? We sold nearly 70 players in the United States this year. Including Apple, the overall sales of mp3 players is almost 120 million."

"Next year, I am confident that the number of 120 million will grow to 360 million. That is to say, the entire industry has great potential for growth, and we will gradually spread all over the United States by stepping on Sony players."

"At the same time, the European market and the domestic market are also very vast. Why is this incremental expectation unsustainable?"

The fund manager asked again: "120 million to 360 million, where does this growth expectation come from?"

"Of course it's from me. Of course, I also have Jobs' number in my mobile phone. Maybe I can call him and ask his opinion." Fang Zhuo added, "If he is willing to answer."

Seeing everyone's puzzled expressions, Fang Zhuo explained: "Apple once wanted to acquire Yike. We had just completed a round of financing at that time. The internal valuation was more than 8000 million U.S. dollars, and Apple offered a price of 2 million U.S. dollars."

"We were all sitting at the negotiating table, but after thinking about it, we still felt that we could try again, so we changed our minds and rejected Jobs temporarily. I saw that he was very angry at the time, so this call may not be able to get through."

Fang Zhuo's relaxed tone made everyone laugh.

When everyone's laughter became smaller, Fang Zhuo added: "However, if he calls me, I don't really want to answer it, because Yike has encountered many lawsuits in the United States, some are just and some are unfair. Also very angry."

"If Yike's market value exceeds Apple one day, I must make a special call to inform him."

This remark brought smiles to many people's faces. The difficult moments in the past were easily mentioned and small emotional complaints were added. It is not only interesting, but also understands the difficulty of certain development stages.

"Boss Fang, I have a question I want to ask."

At this time, Yang Lan, the director of Sunshine Culture, Wu Zheng's wife, suddenly raised her hand and raised her hand.

Fang Zhuo frowned and let go immediately. To be honest, he was a little unclear about the couple's intentions. The cooperation between Sunshine Culture and Sina has ended, but there were twists and turns in the original control battle. Wu Zheng's departure is reasonable It should be satisfied, but I don't know what to think.

He glanced at Yang Lan lightly, and then glanced at Wu Zheng again, and the hearts of the two of them jumped for a while.

Wu Zheng instantly thought of Mr. Fang's ups and downs in Sina's conspiracy, and the time when he, the director, was dominated.

Because Yang Lan cooperated with Shanghai Satellite TV in the "Interview with Yang Lan", he has heard a lot about this indistinct background in Shanghai for quite a while, especially after he copied his family business and entered it as if nothing had happened.

But the couple are also on the Forbes list, and their expressions have not changed.

Fang Zhuo's displeasure was fleeting, and a smile emerged: "Mr. Yang, please."

"Yike's business is so extensive, how does the company manage? Which side is the focus? And how to weigh the market conditions of different countries?" Yang Lan asked a question.

Fang Zhuo replied simply and honestly: "We focus on making money. Whichever earns more will have a higher priority. The US market is not only about the US, but also about Europe. Therefore, Yike's marketing director is very It has been farming in the United States for a long time.”

"Eco's most important market channel, which I personally watched in New York in the first and mid-term, is now on the right track, and the management may be a bit rough, but under the expectation of rapid growth, our primary problem is to meet the growth, and only when the speed slows down It will turn into more fine-grained management."

Yang Lan nodded and asked again: "Mr. Fang, can I invite you to participate in my interview? It's in Shanghai, whenever you have time."

Fang Zhuo smiled at her: "It takes time, it will be very busy for quite a while."

"Mr. Fang, I heard you describe a lot, but why do I think Yike's model is equivalent to the distribution of a record company?"

Di Yan, vice president of Yingke who was sitting next to Li Xiaochao, suddenly spoke.

She continued: "It's the iMusic and online music sales that Mr. Fang calls the moat. Isn't this a distribution company for record companies? It seems to be included in the channel of record sales."

Fang Zhuo explained: "We are reshaping the system of the music industry, which has a profound impact."

Di Yan did not accept this statement: "Mr. Fang, with all due respect, Yike is more like a subsidiary distribution company of Sony. The concept can certainly be said to be lofty, but the actual situation seems to be very limited."

Fang Zhuo thought for a second, and seeing some fund managers discussing with each other, he said: "The difference between the two positions of a subordinate distribution company and a cooperative company is obvious."

"It just so happens that Yike has a company in Japan called Cooperator, which is actually an OEM distribution company. I can call the president of this company Mitsu Tanaka on the spot."

Di Yan was puzzled: "What does this prove?"

"Mr. Di is always impatient, and I haven't finished." Fang Zhuo nodded first, and continued, "Since Mr. Di thinks that Yike is a subsidiary of Sony, I will call Stringer, the president of Sony Music. .”

He shrugged: "If you compare the attitudes of each other, the treatment of partners and distribution channel companies is indeed different. This is more intuitive than my own explanation."

Di Yan couldn't help but exchange a glance with her boss Li Xiaochao, the president of Sony Music?Really?Is that all right?
(End of this chapter)