my fintech empire.

It is worth mentioning that Qunxing Capital's current asset structure is mostly overseas, accounting for about two-thirds, with an asset scale of more than 3100 billion US dollars, which is close to 2 trillion yuan excluding exchange rate changes.

The money is in an offshore state and has not been returned to the mainland, so it is not reflected in the country's GDP data. If it is reflected in the GNP data, it is also reflected in the GNP data, but it is not reflected in this aspect, because most of them are invisible assets.

If you don't take the initiative to expose yourself, it is difficult to be penetrated.

Only one situation will be reflected in the GNP, such as the upcoming layout in the African market, the purchase of local natural resources, contracted mines and other physical assets, which are generally difficult to hide.

Fang Hong didn't intend to let all the assets flow back to the mainland, and at least half of them should be offshore. Only in this way can we calmly deal with any emergencies.

The income of Qunxing Capital has exceeded one trillion yuan, and the amount of tax paid by the company has also set a historical record. Moreover, Fang Hong requires that "all should be paid and not stolen or leaked". The actual tax revenue generated last year reached 3252.56 billion yuan.

What is this concept?
In the past 2011, the total financial income of Xincheng for the whole year was about 1390 billion yuan if the tax paid by Qunxing Capital was not counted. as much.

Compared with the financial revenue of "Magic City" in 2011, which was about 3400 billion yuan, there is only a difference of 150 billion yuan, which is equivalent to the fiscal revenue of "Magic City", a super metropolis with a population of more than 2000 million, last year. The city is also one of the most economically developed cities in the country.

Or Qunxing Capital’s tax payment scale last year could build 15 aircraft carriers.

It would be unbelievable if this was directly disclosed. The rhythm of being [-]% "blocked" by Lao Mei, I know that you must have made a lot of money in the global market, but did you expect to earn so much?Can't bear it!

It is necessary to block, sanction, and suppress three consecutive steps, but any more hesitation is disrespectful to you.

However, Qunxing Capital currently has two ledgers, and the taxation is also divided according to the two ledgers. The tax of 3252.56 billion yuan is divided into 975.77 billion yuan and 2276.79 billion yuan.

Among them, 2276.79 billion yuan is not displayed, and all of them are directly transferred to the national tax and entered the national treasury.

The remaining 975.77 billion yuan shows that this is a clear account, and this part is divided according to the national tax and local tax on June 585.46th, that is, 390.31% of the national tax is [-] billion yuan, and the remaining [-] billion yuan belongs to the Xincheng land tax.

That is to say, in the whole year of 2011 last year, Xincheng's financial tax revenue was about 1780 billion yuan including Qunxing Capital, and Qunxing Capital was still the largest taxpayer in Xincheng.

As for Qunxing Capital's total actual tax amount of 3252.56 billion yuan, the national tax actually took away 2862.25 billion yuan, accounting for 87.99%. It can be said that the absolute majority has entered Zhongyang Finance.

If it is divided according to the usual situation, the land tax of Xincheng can be allocated to 1301 billion, which is equivalent to a tax reduction of 910 billion.

The land tax of Xincheng seems to have suffered a big loss, but if you look at it from another angle, it is another matter.

It would be great if companies like Qunxing Capital didn’t directly include all of them in the national tax. At least they still belong to the local enterprises in Xincheng, and they can get 390 billion according to the locality. This is already a huge astronomical figure. Fiscal revenue has increased to 1780 billion.

The actual situation is already very rich, and the financial revenue scale of Xincheng is already at the level of first-tier cities.

Today's Qunxing Capital is no longer a local company. It is a highly valued existence in GWY. There is no way, because it is really profitable.

The current amount of tax payment alone has exceeded 3000 billion, and it has continued to increase year after year. It is not an exaggeration to say that it is a cash cow in the national treasury, and it is impossible to ignore it.

More importantly, most of the money is still coming back from foreign exchange earned overseas.

……

But at this moment, Tian Jiayi continued to report to Fang Hong: "...In addition, the company has invested in a total of more than 2011 projects in the established 'eight strategic investment directions' as of December 12, 31."

Tian Jiayi said in an orderly manner: "Specifically speaking, 854 companies survived the A-round financing stage, with a pass rate of about 45%; among these 854 companies, 427 companies survived the B-round financing stage, with a pass rate of about 50%; There are 427 companies that have survived the C-round financing stage, with a pass rate of about 307%. As for the D-round financing stage, most of the C-round financing funds have not been used up, and 72 companies have passed the D-round financing.”

Fang Hong nodded silently. Qunxing Capital made nearly 1900 shots in the angel round stage. Most of the nearly 1900 start-ups were round rounds. A large number of pre-A rounds died, and a large number of A rounds of financing died.

But after surviving the A-round financing stage, an inflection point appeared. The survival rate of these start-up companies began to increase. About 50% of the companies received B-round financing, and more than [-]% of the companies that survived the B-round financing The company successfully passed the C round of financing.

Qunxing Capital's frequency of selling is mainly about large volume. If every start-up company is counted as a sample, the samples in Qunxing Capital's hands already have a statistical probability of convergence.

It is reflected in the data that the survival rate of enterprises will increase significantly in the later stages of financing. For example, the survival rate of the C-round financing stage exceeds 70%. It is foreseeable that the survival rate of the D-round financing will also increase significantly. It is estimated that It is above 85%.

This is very normal. Statistical data also fully demonstrates that the risk of the initial investment is huge. In the angel round stage, it can be said that in many cases, it is to support the "dream" and invest a sum of money. Whether it can be successful depends mostly on the destiny, so it is called Angel round financing.

In fact, most of the targets can’t survive the Pre-A round, which is why the angel round stage invests less money and gets more equity, because the risks at this time can be called explosive, and investors are basically carrying the risks. .

In the following Pre-A round, A round, B round, C round, D round... the people who get on the car later mean that the risk of loss is smaller, so at this time, if the same amount of funds is obtained, the equity will be less More, which means less money, after all, the risk is small.

Qunxing Capital’s statistics of nearly 1900 investment samples fully reflect the phrase “high risk, high return, low risk, low return”.

It is worth mentioning that the targets invested by Qunxing Capital, which can survive the C-round financing stage, have basically become absolute holding subsidiaries, and without exception, they all have a shareholding ratio of more than 67%.

Qunxing Capital is the lead investor in each round of financing, and other investors who got on the car in the middle of the process follow the investment, and even many of them are exclusively invested by Qunxing Capital along the way. The only investor is Qunxing, which accounts for more than 80% of the equity. , the remaining equity is the entrepreneurial team.

The eight strategic directions of Qunxing Capital's investment are electronic information, biology and new medicine, aerospace, new materials, high-tech services, new energy and energy conservation, resources and environment, advanced manufacturing and automation.

Without exception, they are all high-tech and high-end manufacturing, and most of them are quite expensive.

These eight investment directions are close to 1900 start-up companies, which seems to be super dense, but in fact, there are not many specific sub-categories, and many sub-categories are not even covered.

A large investment direction, such as the direction of electronic information, can be subdivided into more than ten categories, one of which can be subdivided into more than ten subcategories, and one subcategory can be further subdivided into several subcategories , these subcategories correspond to specific entrepreneurial project companies.

……