The investment era of rebirth

Chapter 242 Letting Go!

"and……"

Su Yu paused, and said: "Even if the IPO can be restarted within the next year, and 'Wowu Biology' can pass the review of the IPO Examination Committee and be listed successfully, according to the performance of new stock listings before the suspension of the IPO, it will break the IPO." The probability is at least 40% or more.”

"We invest money and take over the shares in your hands."

"In the case of taking the corresponding risks, you should also give us a little concession, right?"

"So Su always thinks...how much premium is appropriate?" Qin Qiuyue frowned slightly, then paused, and continued, "Although the future development of the market is full of uncertainties, the fundamentals of 'Wowu Bio' itself It is still very good. During the one and a half years when the IPO was suspended, its performance, revenue, market share in the industry, and the progress of new drug development have all been improving."

"Even if the listing of 'Wowu Bio' is blocked."

"The market valuation of his company is increasing."

"We sold the shares at an investment premium of 20%, which I don't think is too much."

With that said, Qin Qiuyue took out a current market third-party agency's investment valuation analysis report on 'Wowu Biological' from a file bag beside her, handed it to Su Yu, and continued: " According to the general valuation of "Wowu Biological" by many institutions in the market, the value of this part of the equity in our hands is still above 6000 million. The 20% premium I proposed compared with our initial investment cost is actually the current market The fair value does not take any advantage of Mr. Su and your 'Yuhang Investment'."

"essentially……"

"The reason why we chose to cooperate with Mr. Su's 'Yuhang Investment'."

"Of course it's because you are optimistic about the future development of 'Wowu Biology', and more importantly...it is also hope that our two companies will have better opportunities to cooperate in the future."

Su Yu took the analysis report in Qin Qiuyue's hand, glanced roughly, and put it down without looking at it carefully.

He has a better understanding of the value of 'Wowu Biology' and the company's current market valuation than the other party, and... from the beginning to the end, he did not intend to use any fair market value to negotiate with the other party. .

"For the company 'Wowu Biological', our organization has also conducted in-depth research." Su Yu said, "But what I want to talk about is not the current valuation of this company in the market. After all, investment is not just a simple valuation. problems, as well as future risks after investment, market liquidity and other issues.”

"The so-called price and value are not equal in the investment market."

"Boss Qin is an investor himself, and his understanding of this should be deeper than mine."

"In the current investment market, especially the primary market, domestic IPOs are suspended, and foreign listing costs are high. Once funds are involved in an investment project, liquidity is very scarce, and the investment period is long, and the uncertainty faced is also high. "

"In this case, even if the development of the enterprise is relatively stable, its value and price will show an inverted state. After all, in the secondary market, due to the abundant liquidity, it can be fully valued, but in the primary market, considering the investment The stagnant cost of capital, I can only accept a discount."

"essentially……"

"I believe that before Mr. Qin contacted us, he must have contacted other organizations that are interested in taking over the offer."

"And at the price you offered, their willingness to take over should not be strong."

"Since Mr. Su was invited to come, he must be very sincere." Qin Qiuyue pondered for a while in Su Yu's words, and said, "Since everyone is interested, there is no need to hide it and say There are some polite words, Mr. Su just say it directly, what is the reserve price you can accept?"

"Since Boss Qin speaks quickly, I'll just say it straight." Su Yu said with a smile, "According to your initial investment cost, how about a 12% premium?"

6% of the annual capital retention cost is for an investment institution.

Basically equal to no profit.

Su Yu's condition can be regarded as the bottom line for the other party to retreat safely. No matter how low it is, the other party will withdraw at a loss, so it is difficult to agree.

"12%!" Qin Qiuyue frowned when she heard this number.

This price was somewhat beyond her expectations. In other words...the other party was stuck at the bottom line she could accept, and the price was too low.

Calculated based on their investment cost of 5000 million at that time.

An 8% reduction is equivalent to a loss of 400 million in profit.

Such a profit may not be worth much for a large institution, but it still has a considerable impact on her and Anzhao Fund.

"Mr. Yu, what do you think?" After pondering for a while, Qin Qiuyue turned her attention to Mr. Yu from the Eastern Group.

In this deal, although she was negotiating with Su Yu in essence, the person who made the final decision had to be the President Yu of the Eastern Group.

After all, it doesn't matter how personal she is with Chairman Wu of the Eastern Group.

Neither can change the fact that Anzhao Fund is controlled by the Eastern Group, nor can it change the fact that the vice president of the other group has more power to speak than her.

During Qin Qiuyue's questioning, Mr. Yu took a careful look at Su Yu.

Then after a long while, he laughed and said, "Boss Su is really a good negotiator, okay, the 400 million is our Anzhao Fund's profit transfer to Boss Su, I hope we can have better cooperation in the future. "

"President Yu is also a happy person!" Su Yu shook hands with him again with a smile.

Then, he ordered He Qian who was on the side to prepare to strike while the iron was hot and sign a preliminary draft of equity transfer with the other party.

"I don't know what Mr. Su's opinion is about the future trend of the domestic stock market?" After negotiating the share transfer, Mr. Yu asked after the 400 million profit transfer, and asked, "Mr. Su thinks that the current market, Has the foundation of a bull market been established, and the market rebound in the latest quarter will continue to rebound in the next quarter?"

"Mr. Yu is very concerned about the stock market!" Su Yu didn't answer directly, but said something indifferent.

Mr. Yu said with a chuckle: "Our Dongfang Group is a comprehensive financial company. Investment business and asset management business are also the top priorities of our group's development. Mr. Su is a genius in stock investment. It's hard to meet him. I naturally want to ask, ask for advice.”

"The foundation of the bull market comes from the market's investment confidence and loose credit in the market." Su Yu said, "At present, I have not seen any obvious signs of change, but I believe... the future of my country's financial market is still very bright. Bear market Planting seeds, bull market harvesting, now should be the best time to sow seeds.”

The other party spoke politely, and the negotiation went quite smoothly, and he didn't have a bad impression of these two people.

So, when the other party asked about it, I couldn't help reminding him a little.

"Su Boss thinks that the main market in the future will still be the current hot 'smartphone industry chain' and the 'mobile Internet' field?" Qin Qiuyue pondered for a while, then continued to answer the question and asked, "'Shanghai stock market is free. Is there any chance for the main line of the trade zone...?"

The Anzhao Fund she is in charge of this round is planted on the main line of the 'Shanghai Free Trade Zone' hype.

This led to the need to sell off-market investment chips to make up for losses, and at the same time withdraw funds to help the parent company Dongfang Group overcome the crisis of tight capital chains.

"The main line of speculation about the 'Shanghai Free Trade Zone' is driven by favorable policy news." Su Yu said, "In my opinion, it is more like short-term speculation, like an unpopular stock without performance support , suddenly ushered in the benefits of 'fixed increase, increase in holdings, acquisitions, and high transfers'. Although the stock price can be speculated along with these benefits, the impact on its corporate fundamentals is still very limited."

"And the 'smartphone industry chain' and 'mobile Internet' are the main lines of hype."

"In my opinion, fundamental changes have taken place in the fundamentals of the industry. The original market demand space has been fully opened up, and the new demand may be ten times or more than a hundred times."

"In other words, this is an extremely explosive growth market, and companies in all industries will benefit from the extremely explosive demand."

"The hype logic of these two lines is fundamentally different from the 'Shanghai Free Trade Zone' line."

"One is short-term speculation, and the other... is more like long-term investment."

"Of course, no matter what kind of emerging explosive industry, its industry growth and enterprise growth cannot be achieved overnight, and the fundamental changes of each company, in the dynamic changes of the industry, its direction is completely different, who can stand out, Not necessarily."

"Investment is an endurance race, but it is also a knockout race."

"What we have to do is to continue to eliminate the weak and retain the strong while ensuring that the general direction of investment is correct, and embrace those companies that can stand out."

"Understood, thank you President Su for your answer." Qin Qiuyue nodded with a smile, and offered a glass of wine to Su Yu.

In a sense, Su Yu's words are worth more than 400 million, at least...it made her no longer have any expectations for the line of 'Shanghai Free Trade Zone'.

"Boss Su, what do you think..."

After Su Yu talked about the stock market, Mr. Yu changed the subject and asked suddenly: "How about our Dongfang Group company? If we want to boost the stock price, where should we start?"

"You Dongfang Group can be regarded as a veteran listed company listed on the A-share market." Su Yu said, "After several adjustments to the core business, it is now basically regarded as one of the leading comprehensive financial companies in Yuhang. In front of the general manager, there are no effective suggestions.”

"Mr. Su is modest." Mr. Yu said with a chuckle, "Your name of 'Wealth Road' shocked the entire market and created the myth of wealth in the market. Really, when it comes to stock price speculation, short-term market operations, emotional guidance, Concept mining and the like, you can count on one hand the domestic figures who can stand shoulder to shoulder with Mr. Su."

"Let's be honest..."

"The 'Wowu Biology' project is actually just a small project for our Eastern Group."

"It's not that important to us whether to give up profits or not. After all, the profit difference of four to five million is really a drop in the bucket for the entire group."

"We mainly want to establish a cooperative relationship with Mr. Su through this project."

"I hope you can do us a favor."

Su Yu was shocked when he heard this, and then realized that the purpose of the other party's invitation to come was not to discuss the 'Wowu Biology' project at all, but to seek him for other more important matters.

No wonder he felt that this negotiation could go so smoothly, and that the other party could give up the benefits so easily.

original……

The project 'Wowu Creature' is just a 'bait' to attract him.

"What does Mr. Yu want me to do for you?" Su Yu asked with some vigilance.

"It should be a small favor for you." Before Mr. Yu could speak, another middle-aged man, led by the waiter, walked into the private room, extended his hand to Su Yu with a smile, and continued, " President Su, I'm sorry, I'm late for something, and later... three glasses of wine will be fined."

"Mr. Wu!" Su Yu held the other's hand slightly, a little shocked.

The person in front of him is Wu Jinghao, the chairman of Zhejiang Dongfang Group, one of the bigwigs in the Yuhang capital circle, and a figure worth tens or tens of billions.

(End of this chapter)