Top of the Great Era

In fact, Zhou Buqi doesn't care much about these revenues, profits, year-on-year growth, month-on-month growth, etc. A lot of data, he is not a financial person, seeing so many dazzling numbers, his head is getting big.

In fact, just focus on one point - cash flow.

These companies that he has carefully built have great potential for development.Even if last year's financial report data is not very beautiful, it doesn't matter.As long as there is sufficient cash flow in the account, it will be fine to face the trend of the big era and develop slowly.

It is easier to judge by only focusing on cash flow.

Ziweixing's cash flow on the account reached 198 billion yuan.

However, there are 132 billion yuan in outstanding accounts.

For example, if you want to invest in a 5 million yuan cloud data center, you say 5 million yuan will be invested, but the money will not be paid in one go. Maybe the initial investment is only 1 million yuan, and the remaining 4 million yuan will be kept in the account. It has become the cash flow of the company's operations; another example is the "100 billion subsidy", the real [-] billion yuan is not invested all at once.The rest of the money will be turned around in the account.

Jieyu Media also has a lot of cash flow in its account, reaching 147 billion Hong Kong dollars. This is due to the large amount of money raised when it went public last year.Similarly, there are also a lot of accounts to be paid, reaching 82 billion Hong Kong dollars, of which the total investment in the platter investment business for further cooperation with Hollywood film companies has reached 10 billion US dollars.

The rest are various domestic projects.

Variety shows, 6 episodes; movies, 7; TV dramas... It's an exaggeration. Zhou Buqi thought that Xu Baihui was not interested in TV dramas. Unexpectedly, after Jieyu Media got rich, it really wanted to sweep the film and television market. Production of 15 TV series.

Among them, Jieyu Media controls 6 TV dramas and invests in 7 TV dramas in cooperation with other film and television companies.

There are also 2 films controlled by Yang Mi's studio, and Jieyu Media's investment share exceeds 60%.

Yuanwei Group has a cash flow of 32 billion yuan. According to Shi Jinglin, it plans to start a round of annual dividends of 7 million to 8 million yuan.When the Spring Festival is over next month, the board of directors and shareholders' meeting will be held to implement this matter.

Dividend distribution is expected to be completed in mid-May.

This is the complexity of listed companies, and the procedures are relatively slow.It's not as simple as in previous years. If you made money in the previous year, you can start to distribute dividends to shareholders in January of the next year.

Ziweixing International has a cash flow of 20 billion US dollars; Ziweixing Digital Media has a cash flow of 2.4 million pounds; Ziweixing Global has a cash flow of 73 billion US dollars!
In the past fiscal year, Ziwei Star Global's net profit reached 30 billion US dollars, almost equal to that of Time Warner!
However, if you only look at business profits, Time Warner is still higher.Time Warner's operating profit was US$59 billion, and Ziwei Star Global was only US$38 billion, which was a full US$21 billion more.

The reason for the flat net profit is mainly due to two reasons.

First, Time Warner has a bloated structure, poor coordination between departments and subsidiaries, and communication costs are too high.

Second, Time Warner's debt is too high, more than 400 billion U.S. dollars. Last year, it paid 15.3 billion U.S. dollars in debt interest alone.Ziwei Star Global's debt is only US$80 billion, and the interest expense is US$2.8 million.

Compared with Time Warner, Ziwei Star Global is lighter. It does not have heavy assets such as TV stations, TV operations, magazines, and publishing. Its income is only half of that of the other party, but its profit margin is twice that of the other party.

In the eyes of the capital market, the more asset-heavy the model is, the less popular it is.

From this point of view, once Ziwei Star Global is listed, its market value will definitely be higher than that of Time Warner, and it will be much higher.Time Warner's scale, revenue, and profit far exceed Disney's, but now Disney's market capitalization is $600 billion, while Time Warner's is only $400 billion.

Changyou’s net profit last year was between US$7.6 million and US$8.2 million, and its current cash flow is US$29.2 billion.At first glance, it looks like a lot, but the outstanding accounts reached 27.2 billion US dollars.

This is the most troublesome.

Therefore, Zhou Buqi’s most urgent task is to solve the cash flow problem of Changyou. On the one hand, it is to increase the targeted capital of Softbank, and on the other hand, it is to issue bonds to the outside world.

Zhou Buqi cares most about these companies, and they are directly or semi-directly controlled by him.

For the remaining companies, he basically completely delegated power.

Including companies such as Chaowan Commune, Taizun Real Estate, Bajixing Technology, Netflix, Spotify, Jingtao, Astar, Huayi, JD.com, and Fantuan.

If it is done well, everyone is happy; if it is not done well, it is difficult to have a good solution.

You can't change people, can you?
Some are their own wives, some are real relatives, some are close partners, and some cannot be exchanged without absolute power in their hands.

……

When he arrived in Hangzhou, Boss Ma welcomed him warmly.

Looking around Zhou Buqi, there are a few beauties of Jiao Didi... Ho!Sure enough, another replacement!
Boss Ma invited them to lunch, authentic Hangzhou dishes, West Lake Vinegar Fish, Dongpo Pork, Longjing Shrimp, Song Sao Fish Soup, Eight Treasure Tofu, Sliced ​​Fish Balls, Casserole Fish Head Tofu, Osmanthus Fresh Chestnut Soup, etc.

There are a few dishes that Zhou Buqi really can't eat, such as the West Lake vinegar fish, which is completely different from the Northeast sweet and sour fish.The two little secretaries Yan Qiqi and Zhao Limuge ate very happily, fresh and invincible.

Boss Ma's alcohol capacity is average, but he can drink a little, so he brought a bottle of rare red grass that has been preserved for more than ten years.When drinking, it is very reluctant.

Not to say how expensive this wine is, the key is that there is no market for the price.

Tell me some more inside information.

This is a batch of high-end wine produced by Maotai in the early years when the second generation wanted to make money.The old wine and base wine that have been aged for more than ten years are used. Because the materials used are too precious, they will not be produced later.These people have all turned to become Moutai agents, and have become the first-level agents of Moutai, and they can get the wine at the ex-factory price.Then sell it to a second-tier agent, basically without doing anything, and with the approval, you can earn more than one billion a year.

Later, Moutai Company went public, and some shareholders suggested that Moutai Company could bypass the Moutai Group and sell by itself.The Moutai company has a market value of several trillion yuan, so it has to rely on the channels of the Moutai Group to sell?Do you have to let the unlimited hype in the market make Moutai more expensive than gold?
This is obviously impossible.

Market means can only solve market problems.The high price of Moutai is not because the production is too small, but because the agent relationship is too strong. Regardless of the advice of the Moutai company, the wine is kept in the warehouse and not sold. After hoarding it, it becomes old wine and sells it at a higher price, which seriously leads to a shortage of supply. .

Zhou Buqi waved his hand, "I'm not very interested in drinking, but I am very interested in Yahoo."

Boss Ma thought he was talking about Ali stocks, and said with a smile: "I'm not worried, what are you worried about?"

Zhou Buqi snorted: "Don't blame me for not reminding you, Carl Icahn knows, right? He has been watching from behind, Yahoo's new CEO Thompson, he has been watching for several years, from PayPal to Yahoo, you just Aren't you afraid of him doing something?"

Boss Ma nodded, "Well, I know him. Yang Zhiyuan told me. He left the board of directors, and Carl Icahn was behind him. They have been fighting since 08, and they are still old. Yang left the board of directors. Rule-abiding people are always inferior to rule-breakers. But it doesn't matter, Yang Zhiyuan has made arrangements."

Zhou Buqi asked, "How did you arrange it?"

Boss Ma said with a smile: "Yahoo's board of directors, Yang Zhiyuan has many supporters. He left the board, and other directors will stick to his intentions. He also listed several names, such as the current chairman of Yahoo! Roy Bostock, and Arthur Kern, Viomesh Joshi, and Gary Wilson, I have met. They will support the new CEO Thompson and will promote the buyback of Ali shares .”

Zhou Buqi saw that he was calm and calm, and asked curiously: "What kind of agreement did you sign with Yahoo? I have already said that there may be problems with Thompson, the new CEO."

Boss Ma said nonchalantly: "Even if Thompson has problems as you said, that's okay. The agreement I reached with Yang Zhiyuan is the terms of Ali and Yahoo. There are two main points. First, Yahoo holds For some Ali shares, Ali has the priority to repurchase; second, this year, Ali will repurchase 20% of the shares.”

"Is that so..."

"No matter who is in charge of Yahoo's board of directors, no matter who is Yahoo's CEO, the contract has been signed, and everyone has to implement it."

"That's fine."

Zhou Buqi's face looked much better.

Boss Ma narrowed his eyes slightly, "Are you so concerned about Ali?"

Zhou Buqi smiled and said, "That's for sure, please help!"

"No!" Boss Ma shook his head again and again, feeling that something was wrong with this kid, "Do you have any other plans?"

Zhou Buqi laughed, "What attempt?"

Boss Ma took a deep breath, "You're snooping on me, aren't you? You haven't given up on your plan to annex Yahoo! Yang Zhiyuan, including Roy Bostock, Arthur Kern, Viomesh Joshi The existence of these directors who are concerned about the long-term development of the company is not conducive to your annexation of Yahoo."

Zhou Buqi sighed and waved his hands, "It's easy to think, but it's not so simple to do."

"You really want to!"

Boss Ma couldn't laugh or cry.

This kid really has great ambitions!

At the end of last year, Sun Zhengyi created such a big scene, organized a large consortium to buy Yahoo, but failed.As a result, Sun Zhengyi was under a lot of pressure, and even Softbank's stock price fell sharply.

However, the impact of capital institutions on Yahoo during that time was not without effect.

At least Yahoo's board structure is about to change.

Yang Zhiyuan, known as Yahoo's "Chief", is about to leave the board of directors, which is the biggest opportunity for some employers who are obsessed with Yahoo and still thinking of acquiring it.

Zhou Buqi smiled and said: "Try it, maybe it will work? When I take down Yahoo, I can get the remaining 20% ​​of Ali's shares. Don't worry, I won't make trouble for you."

Boss Ma's face darkened.

Yahoo has two seats on Ali's board.After Ali repurchases 20% of the shares, Yahoo will reduce the number of directors by one, so there is still one more.

Once this kid buys Yahoo...

Depend on!
This guy might be on Ali's board of directors.It's not an independent director, but a real director with 20% voting rights.