The investment era of rebirth

"Boss Su also thinks it's exaggerated, doesn't he?" Boss Du smiled and said, "Many people in our group also think I'm crazy. Such financing conditions are outrageous."

"but……"

Mr. Du paused for a moment, and then said with a smile: "If you analyze carefully, you can measure and estimate according to the expected application scenarios and market size of 'new energy vehicles' in the future, and the 'power battery' technology with lithium batteries as the main core route is really a breakthrough. If it becomes the field of "new energy vehicles" in the future, if the main core technology chooses the direction, then the valuation of US$50 billion mentioned by the two presidents of "Ningde Times" is not an exaggeration, and there is still a certain investment value of."

"After all, once the application scenarios are implemented, the technology and products are mature."

"It can be clearly foreseen that the development space in the field of 'new energy vehicles' is no worse than that of the current 'smartphones' and 'mobile Internet', and at least it is a trillion-level market application space. Under the expected space of this volume, It can accommodate emerging giants."

Su Yu listened to Mr. Du's analysis of the future development prospects of the "Ningde era", as well as his optimistic attitude towards the future development of the entire "new energy vehicle" industry, as well as the "power battery" technology with lithium batteries as the main breakthrough, I still admire the other party's forward-looking vision very much in my heart, and responded with a smile: "It is true that in the future expectations that Mr. Du said, the prospects are very good, but in the future emerging technological revolution and industrial explosion, how does Mr. Du think , the company 'Ningde Times' will surely have the last laugh?"

"At least, as far as I know..."

"There are also many companies in Japan and South Korea that research power battery technology, and many of them have accumulated technology from well-known companies, which are more mature than the current 'Ningde era', and Japan is in the field of 'new energy vehicles'. Research on hydrogen fuel cells is also very in-depth."

"Facing the future 'new energy vehicle' market that is still in the fog."

"All the participating R&D companies don't know who will come to the end and become the real winner in the final application market between the 'lithium battery' technology and the 'hydrogen fuel cell' technology in the future. Why does Mr. Du focus on lithium batteries as the main breakthrough? Are you so confident in the direction of the 'power battery' technology?"

"And, even in the future, according to optimistic expectations, the technical route of 'lithium battery' has the last laugh."

"According to optimistic market expectations, how much penetration can 'new energy vehicles' reach in the traditional automotive sector? And how much penetration is required to support the market value of 'Ningde Times' at least US$50 billion, or... According to the most optimistic market investment expectations, where is the ceiling for the growth of this company in the future?"

"sometimes……"

"No matter how good the expectations and future prospects are, it is also necessary to pay attention to a return on investment."

"At this stage, the company 'Ningde Times' calls out a valuation condition of 50 billion US dollars, which cannot be said to be a reasonable valuation requirement."

After listening to Su Yu's opinion, Mr. Du smiled and said, "So, Mr. Su is not very optimistic about the future development of the field of 'new energy vehicles'?"

"That's not true." Su Yu responded, "If we were not optimistic, we would not have entered the game with a lot of money last year to help 'Apocalypse Lithium Industry' win Australia's Talison's lithium mine equity, to be honest... ...I am optimistic about the future direction of 'new energy vehicles'."

"only……"

Su Yu paused, then continued with a smile: "Everything must pay attention to cost performance, and the same is true for investment. The current financing valuation conditions of 'Ningde Era' are so high, even if you participate in it now, the next few years, or even ten years Time, under the optimistic expectation, the application scenarios of "new energy vehicles" have not yet fully landed, and the products in this direction in the market have not been effectively scaled up, and the investment risk is still quite high under the premise of accumulating effective users."

Mr. Du nodded, took Su Yu's words and said: "I also saw that your 'Yuhang Investment' has made a big investment in 'Apocalypse Lithium Industry'. I guess Mr. Su should be interested in investing in the field of 'new energy vehicles'. I just mentioned the 'Ningde Era' project to Mr. Su."

"It's just that I didn't expect..."

Mr. Du paused for a while, organized his language, and continued: "Mr. Su also completely disapproves of the financing valuation conditions given by the other party."

When Su Yu heard Mr. Du say this, he thought for a while, and said with a smile: "Mr. Du still has interest in the project of 'Ningde Times' in his heart?"

"It's natural." Mr. Du nodded, "Investment and buying things are the same. Good things will never be cheap. The key to the maturity of the company's technology route is 'Ningde Times'. The node is on, otherwise I don't think the two presidents, Zeng, would dare to shout out the financing valuation conditions."

"Mr. Su just mentioned the market size of the future 'new energy vehicle' scenario application."

"As well as the penetration rate of the traditional automobile field in the future, there are also issues such as the technical route dispute between 'hydrogen fuel cell' and 'lithium power battery', and the future market space under market selection."

"I have also conducted in-depth research and studied it."

"I can firmly tell Mr. Su that although from the point of view of technological breakthroughs, the 'hydrogen fuel cell' and 'lithium power battery' technologies are both possible for practical application and can be gradually realized on the technical level, but from the perspective of production cost , and the current technical barriers in various aspects, it is obvious that the 'lithium power battery' technology has huge advantages."

"Of course, there is indeed a certain degree of uncertainty about when the market will mature and when the actual application scenarios will be realized."

"And if estimated according to the most optimistic expectations..."

"The 'Ningde era' takes the first-mover advantage of market technology, and if it finally enters the application market, the ceiling is still unlimited. At least as far as I am concerned, according to the most optimistic calculation, when the technology route is mature and the new energy vehicle market In the case of comprehensive penetration of the traditional automobile market, the ceiling of the company's future development is not yet visible."

"Mr. Du said so much, but the ultimate goal is to think about what we 'Yuhang Investment' can do for this project?" Su Yu continued to ponder for a while during Mr. Du's words, and asked.

Mr. Du responded: "I want to cooperate with you on this project."

Su Yu was taken aback when he heard this, and asked, "Didn't Mr. Du just say that the investment project of 'Ningde Times' had already been rejected by your 'Pan Atlantic Group' when you submitted the corresponding investment plan?" How can you cooperate with us now that it has been rejected?"

Mr. Du smiled and said: "I don't want to hide from Mr. Su. After finishing the project of 'Yanjing Sankuai Online', I will resign from 'Global Atlantic Capital Group'."

"Oh?" Su Yuwei was surprised and asked, "I don't know which organization Mr. Du chose as his new employer?"

"Aberdeen Assets." Mr. Du said with a smile, "As for the 'Ningde Times' project, I plan to use it as my first investment performance in 'Aberdeen Assets'."

Su Yu thought about the background and strength of the institution 'Aberdeen Assets'.

Knowing that 'Aberdeen Assets', as a world-renowned large-scale investment institution, is stronger than 'General Atlantic Capital', if it is true... the valuation of 'Ningde Times' is US$50 billion, US$10 billion The conditions of the A-round financing plan are really not intimidating to this investment institution.

"Then I have to congratulate Mr. Du first." Su Yu said with a smile.

At the same time, after the other party revealed his actual plan, Su Yu also said in his heart that he was lucky.

If they delay the project of 'Yanjing Three Fast Online' for a while, maybe there is really nothing to talk about, and he wants to get involved in this company at a relatively cheap price when the company's business explodes. The plan to obtain the corresponding core shares may not be fully implemented.

After all, according to the memory before rebirth in Su Yu's mind.

He knew that after the "Yanjing Sankuai Online" proposed the B-round financing plan, less than a year of development time, that is, at this time next year, Meituan will merge with Penguin's Dianping. Assets merged into shares, which in disguise occupied a considerable share of Meituan, and directly included Meituan in the Internet expansion and development strategy of Penguin, and after Penguin's large-scale intervention, Meituan's valuation skyrocketed again, and then intervened... There is no value for money at all.

"Haha..." Mr. Du laughed out loud, and said, "But with the current investment strategy direction of 'Aberdeen Assets', they can't eat a quota of 10 billion US dollars in one go, and a single institution participates in this kind of project investment. The risk is too concentrated and it is not easy to pass the internal risk review."

"So..." Su Yu said with a smile, "Mr. Du wants to drag us along?"

Mr. Du replied: "I also saw Mr. Su's investment layout in the 'new energy vehicle' industry, so I came up with this idea. I just don't know what Mr. Su's views are now?"

"The market valuation condition of 50 billion U.S. dollars, this premium is quite serious." Su Yu said bluntly, "If President Du can talk about this project with the two presidents of Ningde Times about the valuation of 40 billion U.S. dollars Below the value, we 'Yuhang Investment' can continue to cooperate with Mr. Du to jointly invest in this project."

"Under $40 billion." Mr. Du pondered for a while, then said, "If Mr. Su and your 'Yuhang Investment' can take at least 40% of the share, I can try to talk about it."

"Okay!" Seeing that the other party was so happy, Su Yu didn't hesitate, "If the valuation of 'Ningde Times' is below 40 billion US dollars, our 'Yuhang Investment' is willing to take 45% of the share and help President Du complete this task." The task of leading the investment of the project, as well as assisting Mr. Du to enter 'Aberdeen Capital'."

Su Yu estimated that the timeline for this project should be at the end of the year if it can be negotiated.

At that time, the 'Yuhang No. 2' fund had already carried out the annual net worth liquidation work, and the company should have sufficient cash reserves for investment projects in the primary market.

And there is the investment project 'Ningde Times'...

Now that Mr. Du has contacted him, he has found out the financing needs of the core manager of the other company, who is also the actual controller of the company. If he can participate within a certain reasonable valuation range, he must participate. After all... Looking at the market outlook,' The development of Ningde Times is too fast, and the valuation can be said to change every year.

Participated in the valuation stage of tens of billions, after the growth of the "Ningde era" in the next few years.

They will not earn less.

The reason why Su Yu asked the other party to compress the valuation to around the 40 billion USD mark when negotiating is because the valuation of 50 billion USD is really a bit of a premium compared to the current company size and future prospects of Ningde Era Serious; the second is because the 40 billion US dollars mark is almost before his rebirth, the market valuation of the first round of financing of "Ningde Times" is slightly higher, and he can be sure that the core controllers and management of "Ningde Times" In the case of promoting technology research and development and maintaining the industry's leading position, it will compromise accordingly.

What's more, even if it is negotiated at a valuation of 40 billion US dollars.

This valuation level is now significantly higher than the average market valuation level given by major institutions for the "Ningde Era" in the primary market at that time. This kind of reborn person who can clearly define the future development of this company, other institutions want to follow suit and invest. With this financing scale, it is still difficult to make up their minds.

Generally speaking, according to this condition...

Their 'Yuhang Investment' company has a high probability of being able to cooperate with Mr. Du at a relatively lower cost to get into this investment project.

"Haha... President Su is really a straightforward person." President Du saw that Su Yu talked about such a large-scale investment project without blinking his eyes, and basically without any hesitation. In his heart, he admired the other party's courage and smiled. Said, "Since that's the case, let's have in-depth contact later."

Su Yu nodded and said, "I will let Mr. Liang keep in touch with Mr. Du."

Mr. Du stood up with a smile, shook hands with Su Yu again, and was very happy in his heart. After sitting down again, he hurriedly beckoned to the assistants behind him, and began to represent the "Global Atlantic Capital Group" and Su Yu. Yuhang Investment' company officially signed the B-round financing project plan for joint investment in 'Yanjing Sankuai Online', and signed the corresponding investment contract, memorandum and other documents at the same time.

Afterwards, the two sides discussed the domestic and foreign economic situation and the investment situation in the primary and secondary markets for a while.

It wasn't until close to 10 o'clock in the evening that the two parties dispersed to their heart's content.

Su Yu returned to the hotel and rested for the night. On the next day, he ordered Liang Bin to stay in the port city to continue contacting Mr. Du and the project leader of the 'Global Atlantic Capital Group' to deal with the aftermath. Then at 2 o'clock in the afternoon, that is, Take the plane and fly back to Yuhang.

When he arrived at Yuhang, before he had time to rest, Yang Hao called him.

Hope to meet him tonight.