Reinventing the Millennium.

Chapter 424
The roadshow in Singapore is not over yet, and the Yike and Goldman Sachs teams have determined that this time will be a big success.

As for the triple watermarked video, not to mention outsiders, Yi Ke's own people watched it with excitement.

Some of the members who followed the road show joined the company in 01, and nothing made them tremble more than being reminded of witnessing it with their own eyes.

Taking advantage of the development of the Internet and the crumbling Sony, the original boss could only speak softly on shows in the mainland, but now he can make all the investors listen to him in Singapore!

Yike's employees, regardless of their qualifications, are all honored.

The questioning session of the road show was relatively easy. Several fund managers didn't even ask about the company. Instead, they asked Mr. Fang about his judgment on the trend two years ago.

Fang Zhuo talked about this naturally, not only was he judging the trend at the time, but he also encountered the policy change of Guahao.com, and it still makes him sigh when he mentions it now.

Who would have thought that the policy would change suddenly, it was a difficult time for myself, the company and investors.

Now that Yike is about to go public, the difficulties at that time are recollected in the mouth, and it gives investors in Singapore a different feeling-the fragrance of plum blossoms comes from the bitter cold, and the sharpness of swords comes from sharpening!

When the roadshow was coming to an end, a more formal question was raised.

"Mr. Fang, what do you think of the sustainability of the cooperation between Sony Music and Echo?"

Gao Ruixiang, the investment director of Panshi Fund in the first row, smiled and asked a very critical risk item.

Yike’s moat in Mr. Fang’s mouth is the music copyright cooperation between iMusic and record companies, but the most important partner in this cooperation is Sony Music.

If the Sony Music cooperation is lost, it must be a major blow.

Is there such a possibility?
Sony Music's parent company itself has a strong music player business, and now it is suffering from a decline in market value. Under this background, will Sony Music transfer its music copyright to its own family?
Fang Zhuo heard the implication of this question.

He pondered for a moment, then replied, "That's a good question."

"Part of the answer to this question, I talked with the directors and executives when Yike and Sony Music reached a cooperation. At that time, we discussed why Sony Music should cooperate with Yike? Why not digest it within Sony? "

"The answer at that time is still valid today."

"The internal resistance of different businesses of large companies is often difficult to dispel. What's more, Sony Music is a music business group far away from Japan, with a relatively independent will. If it misses the cooperation with Yike, it can only hand over the right to speak To the apple."

"From the perspective of Sony, whether Sony Music cooperates with Echo or Apple, it will intensify the damage to its player business, but from the perspective of Sony Music, its cooperation with Echo is the best of two evils. light."

"Sony Music now holds 10% of Yike's shares, but it can't get each other's shares with Apple if it takes the music copyright."

"Because Sony did not grasp the opportunity of the development of the times, was unwilling to give up its star business, and was unwilling to fully develop music players based on the mp3 format, this forced Sony Music, a younger brother, to make a choice that was beneficial to itself. "

Fang Zhuo gave an internal factor analysis based on the cooperation at that time. He took a sip of water and continued to explain this key risk issue thoroughly.

"Our cooperation with Sony Music began last year, and an obvious industry trend is that the global record industry has gone downhill under the impact of the Internet."

"The more the industry goes downhill, the closer the cooperation between Sony Music and Yike, the closer the cooperation, the harder it is for Sony Music to change course."

"At the same time, the decline of the parent company has also deepened this helpless bondage."

"The development trend of the global industry may soon further impact the structure of record companies. The cake is smaller, and fewer people will eat it."

Fang Zhuo smiled at the investors who were listening seriously: "Of course, this sentence is just my personal prediction."

Two years ago, "the time left for Sony is running out" is also a predictive warning!
Investors applauded spontaneously.

However, Fang Zhuo was not finished yet.

After the applause ended, he continued: "Even so, this cooperation is not 100% safe. The contract signed by Sony Music can be torn up, and the shares can be sold. Normal cooperation may lead to an unpleasant situation under strong pressure. ending."

Investors frowned, this is a very realistic consideration.

"Sony Music may one day have to interrupt the cooperation due to the dismal business of the parent company, and have to let go with the parent company, but it is definitely not now, because Walkman still has the power to fight, and Sony's internal business groups are still with each other. Disputes, its decline has not reached the bottom, and President Idei Nobuyuki still thinks he has the ability to save it.”

"And when that day comes, Sony will no longer be the Sony of today, nor will Yike. When we look at this issue from the perspective of development, we will be more confident."

"Our self-confidence is not based on the expectation that the other party will abide by the contract, but the confidence in our own business that ebbs and flows."

Fang Zhuo made a conclusion: "Because Sony is Sony, Sony can't give it a go now, and when Sony gradually loses blood, it can't give it a go."

Finally, he said: "The president of Sony Music, Stringer, and I have a very good relationship. Of course, this will not be a key factor. What I want to express is that I know Stringer very well. He is a man with a global vision. company leaders."

"At the same time, Stringer is the president of Sony in the United States. What he has to do now is to protect the interests of Sony America and Sony Music. This is what he must do. I think everyone understands it."

"If one day, Stringer can become the global president of Sony, I am also curious whether he will overturn the cooperation decision he made himself."

Fang Zhuo said with a smile: "I will bring this question to New York and ask him. This is indeed a good question. If there is a chance, I will tell you his answer."

Investors all laughed, how could Sony let a foreigner be the president, but it would be interesting to ask Stringer this kind of question.

The question Fang Zhuo answered was the last question in the questioning session.

He took a breath and reminded today's topic: "Having said so much, I am very confident in the development of Yike and the role of Yike in the music industry. These will be reflected in our stock."

"So, everyone, Yike is going to be listed, buy it, buy it, don't forget, just buy it!"

"Thank you, everyone. It's a pleasure to meet you here today. It's a very pleasant evening."

Fang Zhuo put down the microphone, bowed slightly, and ended Yike's IPO roadshow in Singapore.

I don't know how many times there was warm applause in the banquet hall. Everyone not only admired Mr. Fang's discussion on Sony, but also praised his calm demeanor.

It is also very optimistic about the stock prospect of Yike.

Buy it, buy it, buy it!
(End of this chapter)