I asked you to save a bankrupt factory and you became the richest man in the world.

Chapter 78 Chapter 077: 5200 million in cash?

"Oh? Sincerity? Actually, to be honest, Hillhouse Technology is really meltable or not this time. Even if I raise money, I will not give 40% or even 60% of the funds like those start-ups. The most I can do is I will only raise 10% of the shares, and I need absolute control of the company. The investment company cannot have any ideas or attempts to guide the company's route!" Gao Huaijun finished Maotai in one go and said calmly.

The people Jiahe invested at the wine table couldn't help but be stunned, or even stunned!
They couldn't believe that Gao Huaijun dared to state such conditions!

You know, for ordinary technology companies, those who dare to say this will probably not even meet the boss Wang Ji, even the middle-level investment managers.

How can it be possible for a small company to bargain?
Gao Huaijun not only said it, but also said it very forcefully. This means that he uses the investment company as a tool.

You take the money!
Supervisory power, no!
Directors of the board of directors don’t even think about it!
This is an absolute overlord clause!
No wonder Hillhouse Technology is unwilling to negotiate with large American companies such as Gao Sheng, Leiman Brothers, and Merlin.

With their potential, it stands to reason that finding a reputable investment company would be easy enough!
Wang Ji glanced at the vice president next to him, and the vice president said slowly, "Let's do this, Mr. Gao! Hillhouse Technology's sales in 06 are expected to reach 1.3 million yuan. We think Hillhouse Technology is For a high-potential company that can be listed on the Nasdaq Science and Technology Innovation Board in the future, the Price Earnings Ratio (P/E or PER, also called the price-to-earnings ratio) of the main stocks on the Science and Technology Innovation Board is 15-18 times. In order to express our sincerity, we are willing to give Hillhouse Technology a top-notch price-to-earnings ratio of 20 times. That is, Hillhouse Technology can be priced at 5.2 million, and we can use 5200 million in cash to finance 10% of Hillhouse Technology. What do you think of the shares?"

"We can guarantee that no company in China dares to raise such a high premium! If it were a big investment bank like Morgan Stanley or Gao Sheng, if they intervened, they would only give 10 or more It has a price-to-earnings ratio of 5, and you can see our sincerity!”

"And in order to allow investors to exit better, you can take out 5200 million of the 1000 million in cash and use it freely (free exit mechanism, investment free exit mechanism), and we will not interfere with you."

As a young man, Tang Yuan had never seen such a battle before!

In a previous case he came across, the company gave an Internet company an estimated price of only a few million, and gave investors 200 million angel rounds (Angel Investment) to take 40% of the shares. The investors were very happy. .

Now, Hillhouse Technology is already a company worth 5.2 million yuan!

5.2 million, he, Tang Yuan, has been working hard all his life, but he still can't reach this number!
The gap is too big!

Shang Yayan, who was on the sidelines, was even more gaffe-like at this time.

She knew Hillhouse Technology was valuable, but she didn’t expect it to be worth so much!
10% of the shares, 5200 million, these two figures deeply stimulated her!
It turns out that Hillhouse Technology is really valuable!
Gao Huaijun raised his eyebrows, "5200 million in cash, your Jiahe investment is not small. Do you have that much money in your account?"

"5200 million is not a big problem." Wang Ji was quite embarrassed by Gao Huaijun's questioning. This is actually similar to questioning whether a man can do it. "But we will only invest 4000 million, and the remaining 1200 million will be used as the lead investor." fund and let some friends follow up on the investment.”

Gao Huaijun instantly understood what he meant, and he understood his second-level needs.

Hillhouse Technology is still unable to confront Ji Bochang and the two brothers head-on, so it needs to develop slowly. Now it needs to make some defensive moves to prevent them from playing tricks!
Moreover, in the past few days, some VC companies have successively negotiated with Gao Huaijun.

No matter how much you brag that Hillhouse Technology is a high-potential company, the real money you pay and the real price you pay are your truest views on a company!
The valuation of 5.2 million yuan is one base higher than the highest intention offer received so far.At present, the highest valuation held by Gao Huaijun is based on a price-earnings ratio of 15 times. The market value is only about 4 million, which is less than 5.2% of [-] million.

In Gao Huaijun's eyes, Wang Ji's offer was quite generous.

However, whether Gao Huaijun wants to take the money invested by Jiahe, the most important thing is to look at things other than money.

He now needs a so-called "external force" to protect Hillhouse Technology for a period of time.

If only money is given, Gao Huaijun would rather not raise funds and delay the expansion of the R&D department and marketing self-operated stores. When the company's sales reach the 10 billion level, he would skip the A round and directly raise the B round of capital.

At that time, for Gao Huaijun personally, it was the best choice to maximize his interests.

"I need to point out that Hillhouse Technology's internal sales plan for 06 is 1.6 million yuan, not just 1.3 million yuan. If new products are released by the end of the year, the sales will be even higher!" Gao Huaijun picked up a chopstick. Soft fried fresh clams, said lightly.

"1.6 million yuan is twice the current sales. It is very difficult when there are no new products! And even if a new product is developed, it must be financed before it can appear. This is actually a paradox. Now Hillhouse Technology's R&D progress is too big, and it is very dangerous not to raise funds. Once the capital chain cannot support layoffs, Mr. Gao, you know the impact this will have! In this market, confidence is higher than gold. Important things." The vice president on the side toasted a glass of wine with a smile. The rim of his glass was so low that his waist was almost 90 degrees.

However, his language is very sharp, and he has not become weak because of his desire for Hillhouse Technology.

"1.3 million is obviously an underestimate. I only accept a sales valuation of 1.6 million. Moreover, the total price-to-earnings ratio must reach 25 times! That is a valuation of 8 million!" Gao Huaijun took a sip of his drink. , but what he said was earth-shattering!
Let’s not talk about sales of 1.6 million yuan.

What is the concept of a price-to-earnings ratio of 25 times!
Don't look at the price-to-earnings ratio of Musk's Tesla in later generations.

That's an individual case within an individual case.

In the sound and mature stock market of the beautiful country, without the endorsement of more than three super large institutions, it is impossible to speculate on such a high and large long-term price-earnings ratio.

How can this kind of company compare to ordinary listed companies?
As for those penny stocks, they occasionally skyrocket, but they are just speculation and will fall in a short period of time.

Therefore, companies that can achieve a long-term price-earnings ratio of 20 times are very strong and high-quality companies!

(End of this chapter)