As a mage, I just want to pursue the truth

Chapter 44 The real value of scientific and technological creatures

Due to the listing of the brain-computer connection, the main contents of the prospectus of Kechuangbio have to be completely redone.

The most important content in the prospectus is the valuation of the company, the company's total share capital and the issue price.

Originally, the three underwriters of CICC, China Securities, and CITIC Securities held no less than ten joint meetings with the six major shareholders of Kechuang Bio to finalize these.

Li Miaomiao attended the meeting as Zheng Li's plenipotentiary representative.

Now it's time to start over.

Since Kechuang Biotech only publishes quarterly reports to major shareholders, shareholders such as IDG and Temasek account for a small proportion of shares. They cannot participate in the daily operation of the company, and at most participate in the decision-making of the board of directors.

But since Zheng Li was not in Gusu, the board of directors never met.

It is written in the 2020 annual report that it is expected to complete the application research and development of brain-computer connection devices on mobile phones in 2021.

I haven't received the first quarterly report yet, so I don't know that Zheng Li's progress is so fast. In January, he has completed the signing of patent licensing contracts with major manufacturers.

The contract with Rice was also completed in the first quarter, but due to a private agreement with Lei Jun, the laboratory testing equipment was provided to Rice in advance.

Of course, IDG Capital, Temasek, and Goldman Sachs got the news earlier than the news. They got the news after the patent authorization of Kechuang’s biological brain-computer connection was approved.

It was too late to get the news, but the listing materials have not yet been submitted to the stock exchange, and major shareholders have requested to re-valuate Kechuang Bio.

It is impossible to estimate the value of a single endorphin after having a brain-computer connection.

Li Shuyao said: "There is a very important question, can I ask in advance?"

Li Miaomiao knew that it must be a difficult question for her, otherwise Li Shuyao would have asked directly, "Tell me."

"Will the iphone13 have a brain-computer connection function? If the iphone13 has a brain-computer connection function, I really want to change it."

Li Miaomiao: "Tell the truth."

Li Shuyao lowered her head and said, "I just want to know whether Kechuang Bio has signed a contract with Apple, or whether you have reached a cooperation intention now. If you do, the profit in 2021 is expected to be a completely different valuation."

Li Miaomiao realized that in some respects, she had a deeper understanding than her sister who graduated from finance and studied at Yenching University.

She has a deeper understanding that experience is the best teacher:

"A few days ago, after the patent registration of Kechuang Biology was completed, when I was chatting with Young of IDG Capital, the investment director of IDG's biomedical industry, he put forward a point of view."

Li Shuyao is very interested in chatting with big bosses like this, she hasn't realized that Li Miaomiao is already a big boss: "Then what?"

Li Miaomiao continued: "He basically meant from the artificial synthesis of endorphins to the brain-computer connection. Zheng Li has fully proved that his research and development of enkephalins was not a flash of genius, but a continuous output."

"Therefore, the valuation of Kechuangbio cannot be valued according to the patent licensing of endorphins and brain-computer connected mobile phones."

"The greatest value of Kechuangbiology lies in Zheng Li. He is only 20 years old and has already completed two patents in the field of biomedicine that can be said to be monopolized. His future is limitless."

"Kechuangbio should be valued from its source, and we should value it based on Zheng Li's research and development capabilities."

Li Shuyao couldn't help it: "The problem is that this kind of thing can't be valued. R&D capabilities, how many patents can Zheng Li guarantee for himself in the future? How many of them are worth such as brain-computer connection and endorphin?"

"It's something that's completely unquantifiable."

Li Miaomiao signaled her to calm down: "So young proposed not to give up this listing opportunity. IDG Capital is willing to invest in the C-round investment of Kechuang Bio for no reason. As long as Zheng Li is still in Kechuang Bio for a day, even if the investment reaches the Z round, IDG It will also participate in the Z round of investment.”

Li Shuyao: "Don't you want to eat alone?"

Li Miaomiao: "Goldman Sachs and Temasek both mean this. They both said that there is no rush to go public. If the research and development of Kechuang Biotech lacks funds, they are willing to participate in the next round of investment, and they are not willing to accept an unreasonable valuation."

"They are willing to wait ten or 20 years until Zheng Li's scientific research capabilities are fully demonstrated before going public."

"Mr. Lei, including Rice, also means the same thing."

"Kechuang Biotech will fully compensate you for the liquidated damages as underwriters."

Li Shuyao: "It's not us, I'm just an intern. If you don't go public, the leaders of CICC probably won't be able to sleep for a while and will die of depression."

She couldn't help laughing at the thought.

Li Miaomiao continued: "Don't worry, I haven't finished yet. After reporting the situation to Zheng Li, Zheng Li said that it is still the listing, but the valuation of the listing really needs to be renegotiated."

Li Shuyao asked inexplicably: "Since IDG and Goldman Sachs are willing to follow suit, then Kechuangbio is not short of money, so why rush to go public?"

"Zheng Li wants to cash out his stocks, so just sell some of them to these investment banks."

Li Miaomiao shook her head and said, "I don't know what Zheng Li thinks. Although I think I am the person who knows him best in the company, I often don't know what he thinks."

Zheng Li's idea is very simple, he doesn't need money and is not short of money, he is close to recovering his ability to cast spells, and money will be useless to him after he recovers his ability to cast spells.

It doesn't matter to him whether Kechuang Biotech goes public early or late. Now that the contract has been signed, Zheng ideally thinks it's okay to go public early, and it's a benefit for employees to go public early.

Executives and middle-level executives who have not been listed can't get options, and they can get a part of the shares if they go public.

Li Miaomiao sighed and said, "At first I thought I could watch a play."

"If you don't go public, I don't have to work overtime every day."

Li Miaomiao: "If you don't want to do it, just resign and quit. You don't even need to resign during the internship period and just talk to the personnel."

Li Shuyao: "I don't want to work hard to see if I can stay in CICC."

Li Miaomiao: "If you want to come to Soochow Securities in Gusu, I can help you get into the headquarters, or if you want to go to IDG Capital, Goldman Sachs, Temasek, etc., I can also help you get an interview opportunity."

"As long as your performance is not particularly outrageous, you can be allowed in."

Li Shuyao was a little emotional, the social resources her sister possessed were beyond her imagination: "Thank you, I will tell you if you want."

Li Miaomiao saw the other party's lack of interest: "So if you only count the value of endorphins and brain-computer connections, go to value Kechuang Biology."

"Such a prospectus will most likely not pass the board of directors."

"The value of the brain-computer connection alone must not be calculated based on the estimated income from patent licensing. What is more important about the brain-computer connection technology is the broad application space in the future."

(End of this chapter)