Rekindle 2003

Chapter 919: After all this time, the research institute is a shell company...

Xiao Ya believed that the plan proposed by Qing Yun actually meant that he sold 34% of his shares and received 204 billion yuan in funds.

After deducting the 34 billion yuan contribution in the replacement registered capital, it is equivalent to the other parties giving him 170 billion yuan in funds for free.

Theoretically, Qingyun can use this capital premium to increase paid-in capital at any time, and can transfer it to his own name or the Yanhuang Group, thereby diluting the equity of other parties.

In other words, the little brat reserves the ability to overturn this equity structure at any time.

However, ideas are beautiful and reality is cruel.

It’s hard to say anything else, but how could state-owned assets agree to such conditions!

It would be better for everyone to invest in the same proportion, and then seek interest-free long-term loans from state-owned assets.

Although the money needs to be repaid, there is no responsibility involved.

For a little kid who now earns hundreds of millions every month and may even earn tens of billions of profits every month in the future, money is just a number and there is no need to be so greedy.

Qin Manyan also cheered on the side, "Yes, brother, Sister Xiaoya is right. It won't hurt to be safe. We are not short of money now."

Even Tang Qianying and Zhang Li, who knew little about capital operations, understood what was said, and their pretty faces showed concern and worry.

Qing Yun, who was questioned by the women, did not rush to speak, but chose to remain silent.

He sat in his seat, examining the micro-expressions of every girl present with a firm and deep gaze.

Without exception, he caught a glimpse of doubt and worry in their eyes, as well as concern revealed in their eyes as he suddenly fell silent.

Although they collectively questioned him, Emperor Yun did not feel frustrated or discouraged.

On the contrary, a warm feeling surged in his heart.

He is not a masochist, it's just that this is a good thing and it makes him happy enough.

They are all women with independent thoughts. They will not blindly follow his words, but will use their own wisdom and judgment to examine the problem.

This kind of woman is the partner he really needs.

He can't always be right.

As a human being, you make mistakes sometimes.

He also needs someone to stand up bravely and wake him up when he makes a mistake.

This has always been his creed.

But today, he believed he was right.

Qing Yun took a deep breath and spoke slowly, his voice revealing a calmness.
"First of all, I want to make it clear that there is nothing wrong with my mentality, and I am not arrogant. I will never think of taking advantage of the country."

As he spoke, he looked at each girl one by one, staring into their eyes firmly, his eyes full of sincerity and determination.

He knew that at this critical moment, he needed to make them understand his decisions and considerations.

Upon hearing this, the girls looked at each other.

Qin Manyan curled her lips, with a hint of ridicule in her tone, "It's good that you know you didn't drift. We were just worried that you would get lost for a while."

Qing Yun smiled slightly, reached out and held her hand, and continued his explanation in a gentle but firm tone.

"Manman, I know what you are worried about. But please believe me, every decision I make is carefully considered.

I will never risk our future together.

Investing at this point in time is actually the most economical way for state-owned assets.

Once the institute's results become apparent, its value will be incomparable.

By then, if state-owned assets want to invest, we will have to add at least a zero to the end of our current valuation.

I believe that those political advisors in our national policy research office may not be well-known among the people, but they are all economists who truly understand economics. "

Having said that, Qing Yun paused for a moment, letting the information settle in their minds while she herself was also pondering it.

Every change was met with criticism and doubt at the time, but looking back a few years later, we can only say that there were too many experts in the Policy Research Office.

It is totally incomparable to any internet celebrity economist.

A dog that bites doesn't bark.

How could an economist who truly possesses the skills to govern a country, maintain peace and slay dragons have the leisure to chat on the Internet?
Moreover, regardless of whether the bigwigs in the Policy Research Office can figure this out, the capital will definitely figure it out.

Sometimes the logic of capital is extremely lovely.

In certain circumstances, the value of the primary and secondary markets will be inverted.

That is to say, the valuation in the Pre-IPO round is greater than the value when it is actually listed.

This situation is especially obvious in projects that everyone is scrambling for.

Furthermore, Qing Yun was very sure that once the Hardware Research Institute achieved some results, he would not need any financing at all.

The revenue generated by this domestic market is enough for him to carry out iterative upgrades.

Because he is working on the industrial chain, he is not jumping up and down to show off his reputation and trying to compete with the international advanced level immediately.

His initial products were low-end products for mature markets, and everyone had to compete on price. The semiconductor industry, which requires huge investments and has a very long payback period, is a winner-takes-all industry.

If he can move forward on his path from the low end to the high end, he will naturally eliminate many of his opponents.

Being in the local industrial chain in China, looking at the world, with mature technology, who can compete with him in the price war?
Because of the completeness of the country's entire industrial system and the number of 2.5 million industrial workers who have completed compulsory education, China became the world's factory in 2001.

And 20 years later, this number will not only include industrial workers who have received compulsory education, but also industrial workers who have received higher education.

This is something that no country can replicate.

When it comes to population and group quality, you cannot have both.

This is a gift from our ancestors.

There are only a few countries in the world that can produce as many industrial workers as they do military forces. The land carrying capacity is there.

And it is unique in the world that can balance the population and group quality so well.

Therefore, China is the world's factory unprecedented in history, and this leading momentum will continue for several years.

Thinking of this, he continued,

“If the state-owned assets really wait until the results come out before investing at a low price, this may be regarded as unfair pricing in the capital market, or even constitute a transfer of benefits from us to the state-owned assets.

Don't laugh, this is not a good thing. On the contrary, it can be very fatal in our operations.

This will bring huge risks to the development of Yanhuang Group.

Especially on the international stage, European and American countries will have sufficient reasons to believe that Yanhuang Group is a state-owned company of China, thus affecting our status of enjoying market subject treatment. "

At this point, he shrugged his shoulders and said, "They will think that Yanhuang Group is a Chinese organization, not a company."

Although in the era of small courtyards and high walls in later generations, America does not care what your capital attributes are. As long as you pose a threat, you will be awarded the "Congressional Selection" medal.

However, in the ten years or so before that, this market entity identity was still very useful.

There is no need to force yourself to be strong when you should be developing.

As the ladies listened to Qing Yun's analysis, thoughtful expressions appeared on their faces.

Qing Yun's words reveal not only an accurate grasp of the current situation, but also profound considerations for future development.

Regardless of whether it is right or not, it seems that this is indeed a well-thought-out decision.

“So,” Qing Yun concluded, “this is a win-win decision, which is beneficial to both the country and our group.

The current valuation of the Hardware Research Institute is not completely a castle in the air.

In fact, it shouldn't be called valuation.

Instead, it is a project estimate based on a deep understanding of industry development trends and a full assessment of the potential of the Yanhuang Hardware Research Institute.

What the country needs to decide is whether to invest in me or not. As for the price, I believe there are people in the country who understand it, and we need to do the math at this time.

I am not just shouting out a valuation of 600 billion, but I will actually take out 600 billion. 100 billion is the registered capital, and 500 billion is an interest-free loan to the shareholders of the institute.

In other words, the initial start-up capital of more than 800 billion yuan for the entire project is a question of whether it is sufficient, not whether it is worth it. "

Qin Manyan and others listened to Qing Yun's analysis and showed a look of understanding on their faces.

They were all convinced by Qing Yun's logic and plans for the future.

However, Ms. Chen frowned at this time and raised a key question.

"Youngest, since this is not an estimate but a rough estimate, then the question is, where do we get 600 billion?"

The Yanhuang Group dismantled its foundation and found that even if the profit rights after the TOP Industrial Park was transformed into a commercial real estate project were taken into account, the current book value is only about 10 billion yuan!
However, the right to income cannot be realized immediately.

The Mayflower Lady Fund raised by Qin Manyan does have 200 billion, but this money is used to acquire other companies and cannot be directly added to the Yanhuang Group's own funding pool.

The actual owned funds of Yanhuang Group are actually pitifully small.

Because Yanhuang was developing rapidly, all operating income was invested in expanded reproduction after setting aside working capital.

Qing Yun smiled slightly, as if he had already anticipated this question.

He patiently explained: "This is a dynamic investment that will be completed over several years, rather than spending all 804 billion at once.

What we need is a long-term, sustained investment.”

He turned to look at Xiao Ya, his tone becoming serious: "The plan states that all profits of Yanhuang Group in the next five years, after leaving enough operating capital, will be invested in the Hardware Research Institute."

There was a determination in his eyes, and it was obvious that he had given full consideration and confidence to this plan.

Xiao Ya heard this, a hint of understanding flashed in her eyes, and she said jokingly,

"That is to say, the funds from other parties will be paid all at once, while the money we have to pay will be paid in installments over five years, right?

You are so cunning, little brat! You know the concept of registered capital! You have completely mastered it.

In other words, the research institute that is about to be established is a shell company with a registered capital of 100 billion and paid-in capital of 10 yuan in front of the state-owned assets? "

……

(End of this chapter)