This celebrity is too rich

Chapter 244 Miki Network
Li Chuan and Jiang Zeyu chatted from 11:30 pm to [-]:[-] pm. After three and a half hours, they finally discussed a reasonable equity structure.

According to the results of their discussion, Sanmu Media will be reorganized as Sanmu Network.

Why change "media" to "network"?
This move is in preparation for a possible listing in the future.

As we all know, the price-earnings ratio of Internet companies is much higher than that of other types of companies. Although the price-earnings ratio of Internet companies in later generations is gradually decreasing, it is still much higher than ordinary companies.

Sanmu Media was reorganized into Sanmu Networks in order to define itself as an Internet company in order to strive for a higher price-earnings ratio in the market... A higher price-earnings ratio means a higher market value, and the higher the market value, the more wealth they have in their hands .

However, it is worth noting that Sanmu Media is a reorganization, not a name change.

After the establishment of Sanmu Network, Sanmu Media will not disappear, but will belong to Sanmu Network and continue to use it.

The specific operation method is: Li Chuan transfers 100% of the shares of Sanmu Media held by him to Sanmu Network, and then splits the business... The e-commerce business is split out and placed under the banner of Sanmu Network, and the entertainment live broadcast business And the short video business will continue to be retained and belong to Sanmu Media.

That is to say, in the future, Sanmu Network will be in charge of the e-commerce section, and Sanmu Media will be responsible for the entertainment live broadcast and short video section. " core business.

In addition, two companies will be established under Sanmu Networks.

[-]. Sanmu Agricultural Technology Co., Ltd.

The company is mainly responsible for the selection, acquisition and sales of agricultural products, and also cooperates with and represents other agricultural product companies.

Why single out agricultural products?

There are three main reasons:
1. The area of ​​"agricultural product sales" has great potential for development.

What are agricultural products?
Juice, sausage, sauce?
Strictly speaking, fruit juices, sausages, sauces, etc. are agricultural and sideline products, not real agricultural products.

What is real produce?
It's fresh fruits and vegetables!

It goes without saying how big the market for fresh fruits and vegetables is. If you have to be serious, a few trillion yuan is not enough.

2. The agricultural industry is supported by national policies.

In 2017, in the report of the [-]th National Congress of the Communist Party of China, the "Rural Revitalization Strategy" was put forward.

How to revitalize the countryside?

"Sales of agricultural products" is the most important part of it!
With a huge market and national policy support, the development potential of the agricultural aid industry is obvious.

3. The business model of "sales of agricultural products" is different from that of ordinary e-commerce.

For ordinary e-commerce products, Li Chuan signs a "sales sharing contract" with manufacturers and brand owners. Every time a product is sold, he can get a corresponding profit from it, but agricultural products are different.

The distribution of agricultural products is relatively scattered, and there is no fixed industry standard. If you want to ship a large number of products in a short period of time, you need to spend a long time selecting products, and then organize your own people to purchase them. Later delivery and after-sales, Make your own arrangements too... it's kind of like a self-employment model.

The self-operated model is much more troublesome than agency sales, and the shelf life of agricultural products is short, and it will be severely damaged if you are not careful, and the post-processing is very cumbersome.

To sum up, the agricultural aid industry is not suitable to be managed together with ordinary e-commerce business.

Li Chuan and Jiang Zeyu are listed separately for easier management in the future.

[-]. Sanmu Engineering Construction Co., Ltd.

The purpose of the establishment of the company is to develop the No. 16 plot of Haichuang Park in the future science and technology city, and to build the headquarters building and live broadcast base of Sanmu Network.

The original Sanmu Media and the soon-to-be-established Sanmu Network do not have the qualifications for real estate development and construction, so they need to re-establish a company to do these things.

The above two companies are 100% owned by Sanmu Networks.

In this way, a simple underlying design has been formed... Sanmu Networks has three wholly-owned subsidiaries including Sanmu Media, Sanmu Zhunong and Sanmu Construction.

In the later stage, as the business expands, Sanmu Networks may establish a new wholly-owned subsidiary, but that is something for later. At this stage, it is sufficient to retain the established underlying design.

In terms of mid-level design, they have also made some adjustments.

100% of the shares of Sanmu Network will belong to a company called "Sanmu Holdings".

Sanmu Holdings, whose full name is "Sanmu Holdings Co., Ltd.", is an investment company in name.

According to the plan, Sanmu Holdings will also belong to three wholly-owned subsidiaries, namely: Sanmu Network, Sanmu Supply Chain and Sanmu Fund.

Sanmu Network, the full name is "Sanmu Network Technology Co., Ltd.", which is the most important operating entity, which has been introduced before.

Sanmu Supply Chain, full name "Sanmu Supply Chain Management Co., Ltd.", is also an important operating entity.

The function of Sanmu's supply chain is similar to a shareholding platform, which is mainly responsible for building a complete supply chain system.

How to build it?

The specific method is to select high-quality small brands and manufacturers, collect their shares in the name of "sales agency", or inject capital into them in the name of "investment"... After occupying the shares, a fixed internal The right to speak, control the quality of their goods, and intervene in their brand operations.

The Guanfeng luggage factory that Li Chuan acquired before is one of them.

According to the established plan, the 66% shares of Guanfeng Luggage Products Factory will be transferred to Sanmu Supply Chain.

Some people may ask, why should the Sanmu supply chain belong to Sanmu Holdings instead of Sanmu Networks?
This question involves the future strategy of the "Sanmu Department".

The core of live streaming is the supply chain. A complete and mature supply chain can exert much more energy than an MCN company.

Once the Sanmu supply chain is formed, the sky is high and the birds are flying, and the sea is wide and the fish is leaping. There is really no need to be confined to the cage of Sanmu Network.

According to the strategic concept of Li Chuan and Jiang Zeyu, after the Sanmu supply chain is formed, it will serve multiple customers. Sanmu Network may be the most important one, but it is definitely not the only one.

Therefore, in order not to restrict the development of Sanmu's supply chain, they did not place it under Sanmu Network, but placed it under Sanmu Holdings, and became a parallel existence with Sanmu Network.

Sanmu Foundation, its full name is "Sanmu Charity Foundation".

Li Chuan considered the matter of "establishing a charity fund" last year... At that time, he just had an idea, but he never had time to implement it; now, just in time for the adjustment of the equity structure, he brought it up.

Judging from the current situation, setting up a charitable fund is a good move.

Since Mr. Sen has grown up, he has become the top anchor in the live streaming industry. He has both popularity and influence. Now the most important thing is personality and word of mouth.

Although the establishment of a charitable fund will be described as tax avoidance by many netizens, as long as it is truly charitable and properly publicized, it can establish a personality in front of the public and gain a better reputation.

After listening to Li Chuan's explanation, Jiang Zeyu also felt that it made sense, so he took the initiative to take over the matter of "establishing a foundation"...Jiang Zeyu came from an investment bank, and "establishing a foundation" was not difficult for him.

Same as the underlying design, Sanmu Supply Chain and Sanmu Fund will also be 100% owned by Sanmu Holdings.

Sanmu Holdings has three wholly-owned subsidiaries, Sanmu Network, Sanmu Supply Chain, and Sanmu Fund... This is the middle-level design of the "Sanmu System".

In terms of top-level design, Li Chuan and Jiang Zeyu used the "limited partnership structure" they discussed earlier.

Sanmu Holdings is held by two companies, namely "Huangshui Investment Co., Ltd." and "Chujiang Investment Co., Ltd.", of which Huangshui Investment Co., Ltd. holds 25% of the shares and Chujiang Investment Co., Ltd. holds 75% of the shares.

Some people may be curious, how did the words "Huangshui" and "Chujiang" come from?

This is derived from Li Chuan's name.

There is a word "Chuan" in Li Chuan's name, which means "river".

What are the two most famous rivers in China?
There is no doubt that it is the Yangtze River and the Yellow River.

"Huangshui" is another name for the Yellow River, and "Chujiang" is another name for the Yangtze River... This is the origin of the two words "Huangshui" and "Chujiang".

The GPs of Huangshui Investment Co., Ltd. and Chujiang Investment Co., Ltd. are both held by a company named "Yichuan Investment Co., Ltd."

Why is it called "Yichuan"?
Li Chuan originally wanted to call it "Bai Chuan"... Heiner, it sounds nice, and it has a special meaning.

However, after some research, he found out that the word "Baichuan" had already been registered, and it was an A-share listed company... He had no choice but to choose something else.

"Qian Chuan" is also nice, but Li Chuan didn't check the word, so he gave up.

why?
Because he knew what "Qianchuan" was.

Qianchuan, also known as "Great Quantum Qianchuan", is a comprehensive e-commerce promotion platform officially launched by Douyin. DOU+, Luban, feed, etc. will be gradually integrated into the Qianchuan platform in the future... At that time, Sanmu Network will definitely use it get.

Therefore, the word "Qianchuan" belongs to the official Douyin. Li Chuan doesn't want to grab it, and he can't grab it.

"Baichuan" and "Qianchuan" are not good, so what about "Wanchuan"?

"Wanchuan" is a bit of a mouthful, and it doesn't sound very nice, it's like a personal name.

What about "eight rivers" and "nine rivers"?

It is possible, but the layout is too small.

After thinking over and over again, Li Chuan named "Yi Chuan".

As soon as "Yichuan" came out, it covered up "Baichuan" and "Qianchuan", and it sounded better.

According to the plan, Li Chuan will hold 100% of the equity of Yichuan Investment Co., Ltd. With the help of Yichuan Investment's GP status in Huangshui and Chujiang companies, he can indirectly control Sanmu Holdings, and then enjoy absolute control of Sanmu Network .

However, Yichuan Investment's shareholding in Huangshui and Chujiang companies is not 100%.

According to plan:

Yichuan Investment will hold 0.5% of the shares in Huangshui Investment Co., Ltd. and 0.1% of the shares in Chujiang Investment Co., Ltd.

That is to say, through Yichuan Investment, Li Chuan only indirectly holds 0.25% of the shares of Sanmu Holdings.

Although the small number of shares does not affect Li Chuan's absolute control over Sanmu Holdings, but if the shares are too small, it will also affect his profit from it... It is very uncomfortable to only work and make money, but not to get money from it.

How to solve this matter?

The solution is simple. Li Chuan only needs to set up two more companies and take shares in Huangshui and Chujiang respectively, and then he can harvest profits in a fair and honest manner.

However, these two companies can't do it casually, because it involves the distribution of benefits. If they mess up, it will seriously affect the future development of the "Sanmu Department".

Li Chuan and Jiang Zeyu discussed this issue for more than an hour, and finally came up with a plan.

They first determined the properties of the Huangshui and Chujiang companies.

Huangshui Investment Co., Ltd. will be positioned as an employee stock ownership platform... If the internal employees of the "Sanmu Department" hold shares, the shares will be divided from Huangshui Investment Co., Ltd.

Chujiang Investment Co., Ltd. will be positioned as an external financing platform... External capital wants to finance the "Sanmu System", and will split the shares from Chujiang Investment Co., Ltd.

Nowadays, the "Sanmu Department" has neither employee stock ownership nor external financing, so what should we do?
Of course, build the framework first, and wait for it to be used later.

For Huangshui Investment Co., Ltd., they will establish a formal employee stock ownership platform called "Tonghui Investment Co., Ltd."

The meaning of the word "Tonghui" is relatively simple, which means to be brilliant together and reach the pinnacle of life together.

Tonghui Investment Co., Ltd. will occupy 99.5% of the shares of Huangshui Investment Co., Ltd.... These shares are the option pool established by the "Sanmu Department", and will be rewarded to the employees of the "Sanmu Department" in the future.

But before the employees officially get the options, these shares will be held by the general manager on behalf of them.

Li Chuan is now the general manager, so he will hold 99.5% of the shares on his behalf.

However, there is a regulation in Tonghui Investment Co., Ltd., that is, before the shares are officially distributed, the income obtained can only be used for company development and cannot be received by private individuals.

Therefore, Li Chuan can only hold it on behalf of others, but cannot use these shares to reap profits.

If he wanted to reap profits, he could only go through the framework of Chujiang Investment Co., Ltd.

Chujiang Investment Co., Ltd. is an external financing platform. Li Chuan will set up a "family trust" in Hong Kong to enter the market in the form of "external capital" and reap profits.

Why Hong Kong?

Because trusts in the Mainland are easily broken down, Hong Kong's trusts are not easy to be broken down.

What does "broken down" mean?
Simply understood, it is debt collection.

The biggest function of the trust fund is that in the event of an accident outside, it will not be collected by a third party... Trusts in the mainland are not doing very well in this regard, so if Li Chuan does not want to go abroad, he can only choose Hong Kong up.

After the establishment of Li Chuan's family trust, it will occupy 99.9% of the shares of Chujiang Investment Co., Ltd.

This is because the "Sanmu family" has not received external capital injection so far, so Li Chuan's family trust can get all the remaining shares. If there is external capital injection in the future, the proportion of Li Chuan's family trust will also increase accordingly. reduce.

The above is the top-level design of the "Sanmu System".

The bottom, middle, and top floors each have their own set of designs, which look quite complicated, but in practice, the effect is the same as before... Li Chuan still holds 100% of the shares of the "Sanmu Department" and enjoys absolute control over the company , but through this move, he effectively avoided his own risks, and at the same time laid the foundation for the future development of the "Sanmu Department".

Of course, this is still a story.

At present, Li Chuan and Jiang Zeyu have only finalized the equity structure of the "Sanmu Department". It is hard to say when it will be realized.

Because the shareholding adjustment is too large this time, it needs to go through a lot of procedures, and there are some troublesome things among them.

What trouble?

Normal industrial and commercial registration is not troublesome, it can be done in a day or two, but Sanmu Fund and family trust are really troublesome.

Sanmu Fund can take its time, it’s not in a hurry, if it doesn’t work well in a while, it won’t affect the overall equity structure adjustment, but the family trust is different, the family trust is a top-level design, if it can’t be done well, there is no way Make subsequent adjustments.

Li Chuan was also a little worried about this.

"Oh~, I still have to go to Hong Kong."

Li Chuan shook his head helplessly, and said: "In two days, I will broadcast live, and the company also has a lot of things, I can't go here for a while, it seems that I have to wait for the equity adjustment It's been a while."

"I'll go for you." Jiang Zeyu said suddenly.

"Ok?"

Li Chuan frowned, and said, "Is this possible?"

"It should be possible... Trust funds can also be handled on behalf of you, but it will be a little troublesome, but it doesn't matter. I have lived in Hong Kong and am familiar with it, so I can handle it."

"If that's the case... that's great!"

Li Chuan said happily, "What materials do you need?"

"I don't know too well. Let me call and ask tomorrow."

"it is good."

Li Chuan nodded and said, "Then I'll leave this matter to you first. If you need any materials, just tell me if there are any problems in the follow-up, you should communicate with me in time. If it doesn't work, I can spare a few days Come, make a special trip."

"no problem."

"Ah."

"..."

(End of this chapter)