Gold Investor

Chapter 107 Internet Finance (3)
The e-sports company acquired this time is not well-known, but one of the company's games is very popular in southern China, and it is a leader in a niche market.Fang Yubin's investment principle is that the acquisition must target the pioneers in the industry. If the leader of the mass market cannot be acquired, the leader of the niche market must also be acquired.For example, this company has at least an unshakable influence in a certain area.With this acquisition, Dream Theater took advantage of the opportunity to bring a group of sticky users into its arms.

While in Hong Kong, Fang Yubin also met with several American investment bankers to discuss the possibility of Dream Theater going public in the United States.Taking advantage of the popularity of the live broadcast industry, he has a plan to promote the listing of Dream Theater on NASDAQ.

Walking on the passageway of the airport, He Zhaowei pointed to a billboard and said, "The Yijia Financial Holdings endorsed by the big star Chu Man has been advertised in the terminal building. You also voted for this company, right?"

Fang Yubin looked up at the billboard and nodded with a smile.

"You can do it!" He Zhaowei said, "How long has Xinglan Investment been established, not to mention other projects, the two projects of Danmeng Theater and Yijia Financial Holdings have already made you a lot of money."

Fang Yubin said: "The financial strength of Xinglan Capital is not strong. Most of the money has been invested in your two companies, and the rest are small projects. Dream Theater and Yijia Financial Holdings are also the ones I put the most energy into."

Wu Buda stood in the arrival hall of the airport, waiting for Fang Yubin and his party.Fang Yubin followed Wang Cheng's advice and left Rongding alone without anyone taking him with him.Wang Cheng's prophecy was soon confirmed. As Fang Yubin's confidant, Wu Buda was wearing countless small shoes by his new boss.In desperation, he had no choice but to submit a letter of resignation.After leaving Rongding, Wu Buda contacted Fang Yubin.This time, Fang Yubin welcomed him with open arms, and asked Wu Buda to directly become the investment director of Xinglan Capital.

Wu Buda stepped forward, carried the luggage for the boss, and said with a smile, "There is good news."

"What news?" Fang Yubin asked.

Wu Buda said: "An accident happened to Riri Gold. A large group of investors surrounded the company tightly, and the boss hid."

Riri Gold is also a P2P financial platform with strong strength, and was once regarded as the strongest opponent of Yijia Financial Holdings.Fang Yubin was a little surprised: "Before I went to Hong Kong, wasn't this company doing well?"

Wu Buda said: "The P2P financial platform is no different than other industries. It really takes a day or two to collapse. There are tens of millions of money, and Ririjin cannot pay investors after maturity. Putting money in, the original investors clamored to take the money away, and the company’s capital chain was broken in an instant.”

Fang Yubin frowned: "Do you think this is good news?"

"Probably so." Wu Buda said, "Rijijin has always been the biggest competitor of Yijia Financial Holdings. The salesmen on both sides fought fiercely in order to attract business. They collapsed. I guess Mr. Yuan must be secretly having fun."

Fang Yubin stopped and said, "Buda, you drive Zhaowei home, and I will call a car to go."

"Where are you going?" He Zhaowei and Wu Buda asked at the same time.

Fang Yubin said: "I'll go and see Mr. Yuan and ask him if he's having fun?"

Walking into Yuan Ruilang's office, Fang Yubin talked about the conversation with Wu Buda at the airport just now, and Yuan Ruilang laughed: "He's right, I'm really joking."

"Really?" Fang Yubin asked.

Yuan Ruilang lit a cigarette triumphantly: "Don't tell me, I saw the shadow of you in Wu Buda. At that time, you were also the director in charge of investment business. You were very smart and eager to learn. Of course, Wu Buda's talent is still inferior to yours. But as long as you take good care of him, he may become a great weapon in the future."

"Why can't I be happy?" Fang Yubin said, "P2P finance is a special industry, which is different from opening restaurants and supermarkets. Seeing the restaurants on the street close, the restaurants at the end of the street might as well be happy for a while, because the diners on the entire street can only come from However, the collapse of a large P2P financial platform such as Ririjin has hit the confidence of all investors. People will think, is it safe to put money on a P2P platform? If the panic spreads, Yijia will inevitably suffer. spread."

Yuan Ruilang took a sip of tea and said: "There is a saying in Buddhism that there are three realms in life. The so-called mountains are mountains, and water is water; mountains are not mountains, and water is not water; mountains are mountains, and water is water. Wu Buda is still in the first stage, Yubin, you have already reached the second stage, as for me, now I see mountains as mountains, and water as water.”

Although Fang Yubin's status has long been on the same level as Yuan Ruilang, Yuan Ruilang still puts on the airs of an old leader from time to time.Fang Yubin didn't mind, and said, "I would like to hear the details."

Yuan Ruilang said: "The collapse of Riri Financial will impact the entire P2P financial industry. To put it bluntly, the entire industry will face a big test, and Yijia Financial Holdings will also enter a difficult time. Not to mention that ordinary investors panic, even Shareholders of the company are also uneasy. I just got a call and a shareholder asked to divest.”

"However," Yuan Ruilang changed the subject, "a major reshuffle of the P2P financial industry, which is full of fish and dragons, is an opportunity for a company with such excellent physique as Yijia."

Yuan Ruilang also said: "Today's P2P financial industry is so chaotic that bad money drives out good money. Some platforms offer investors 20% annual interest return, which is just like crazy. I made a calculation Calculated on the basis of an annual interest rate of 20%, the current average bad debt rate of domestic P2P platforms is around 10%, and the sum of the two is 30%. In addition, the platform must pay some wages, rent, and broadband fees. With this addition, it reaches 35%. Even if the platform doesn’t make any profit, if you just learn from Lei Feng, the borrower’s financing cost will still be around 35%. What kind of industry can you guarantee 35% profit? Once the borrower can’t How about repaying on time?"

Yuan Ruilang went on to say: "The platform is crazy, and the investors are also like a demon. Some investors have no sense of risk, and they will invest their money in the one that offers high interest. The more difficult it is, the more we have to follow up.”

Yuan Ruilang stood up from his chair: "It's all right now, let's have a big crisis and bring back those companies that are shaming their money. Although Yijia Financial Holdings will also face shocks, good money can finally drive out bad money. Why am I not happy?" ?”

Fang Yubin understood Yuan Ruilang's intentions, and he said, "What you said is correct, but it is not easy to do."

Yuan Ruilang said: "When the sea is flowing, it is time to show the true qualities of a hero. Now is the time to test our determination and will. I have decided to take advantage of the entire industry to enter a period of adjustment, to expand against the trend, and to copy the bottom line. When the adjustment period is over, Yijia will truly establish its dominance in the domestic P2P financial industry.”

I am greedy when others are fearful. Is this kind of thinking correct or not?There are countless similar practices in Chinese and foreign investment cases, and the probability of success and failure is almost equal.But at this time, Yuan Ruilang was about to buy the bottom of the P2P financial industry, but Fang Yubin felt that something was wrong, but he couldn't make up his mind for a while, so he just continued to ask Yuan Ruilang: "Is there any specific method?"

Yuan Ruilang seemed to be full of confidence: "The business of Yijia Financial Holdings will not shrink, and it will make great strides forward. The plan to establish branches in various places will also proceed as usual. At the same time, those shareholders who are not determined do not have to force them to stay. I will start the second round Financing, the introduction of new strategic partners."

"Are you going to start the second round of financing? Is it already decided or will you discuss it with me?" Fang Yubin was quite surprised.

"Of course it's decided. What's the point of just talking without practicing!" Yuan Ruilang said, "I have been in contact with a venture capital company in the United States for a while, and the other party's willingness to invest in Yijia Financial Holdings is very strong. The president of the Asia-Pacific region of this venture capital We are in Shanghai these days, and if there are no accidents, the contract will be signed soon."

"Why don't you even say hello to such a big event?" Fang Yubin has always respected his former boss, but this time he couldn't help complaining, "Initiating the second round of financing, on the one hand, is to introduce new investors, on the other hand On the one hand, the equity of the original shareholders is bound to be diluted. Xinglan Capital is the largest shareholder of Yijia Financial Holdings, so why don't you ask for our opinions on matters that are closely related to our interests?"

Yuan Ruilang said with a smile, "Which of us is with whom, do you still care about these things?"

Fang Yubin said: "Whether I care about it or not, you should ask for my consent in advance for this kind of thing."

"Okay, okay, it's my negligence this time." Yuan Ruilang said, "Now I'm going to formally ask for your opinion. Do Xinglan Capital agree with Yijia's expansion plan against the trend and the second round of financing?"

Fang Yubin showed a business-like attitude: "The matter is of great importance, and we must carefully study and judge before we can make an answer."

"How long will you study and judge? I want to take advantage of the opportunity of the US representatives coming to Shanghai to finalize this matter." Yuan Ruilang asked.

Fang Yubin said: "The demonstration process will take at least half a month. The management of Xinglan Capital not only has to hold a meeting to study, but also solicit opinions from shareholders."

"The delay is too long." Yuan Ruilang said, "I can only give you three days. After three days, I will put forward relevant issues in the board of directors and put them to a vote."

Yuan Ruilang's aggressive attitude made Fang Yubin a little angry, and he said solemnly: "If that's the case, I will have to vote against it."

"It doesn't matter." Yuan Ruilang's tone also became blunt, "I am the founder of Yijia Financial Holdings, and the voting rights of Class B shares in my hand are 10 times that of other shareholders. Even if everyone objects, the second round of financing can still be implemented. .”

The cattle card plan that Yuan Ruilang insisted on at the beginning has now come in handy.Fang Yubin was very annoyed. If it were someone else, he would probably have slapped the table and jumped up.But after all, it was Yuan Ruilang in front of him, Fang Yubin just had a gloomy face and stopped talking.

After a while, Yuan Ruilang handed over a cigarette, and his tone softened a little: "Sometimes the teeth and tongue are still biting, working together, there will be no disagreements. I also said some angry words just now, you don't have to mind."

Fang Yubin took the cigarette and puffed it up.Yuan Ruilang said again: "I hope you can seriously consider what I just said. Although I can still make a decision even if everyone opposes it, it is always better to unify my thoughts. I don't talk about it for three days, just a week It's time, when the time comes, we will have a meeting of the board of directors."

Fang Yubin still didn't speak, just nodded.

4 At the beginning of Wanda’s nationwide expansion, Wang Jianlin set a rule

Fang Yubin knew that what Yuan Ruilang said was angry, but he also told the truth.They have a cattle card plan, even if everyone opposes it, what can they do?As for three days or a week, it's just a step down for myself.A week later, Fang Yubin did not attend the board meeting, and the representatives of Xinglan Capital abstained from voting at the meeting.The plan pushed by Yuan Ruilang was passed without any doubt.

The expansion of Yijia was in full swing. Yuan Ruilang signed a cooperation agreement with American venture capital, and even took advantage of the opportunity of the second round of financing, and the senior management of the company also obtained the corresponding equity.

One day, Fang Yubin was talking with someone outside, but he received a call from Jiang Ruobing.The other party smiled and said, "Mr. Fang, I have something to trouble you for."

"What's the matter, just talk about it." Fang Yubin and Jiang Ruobing have a good personal relationship. After they met in the bookstore, they felt that they got along quite well, and they got together several times in private.

Jiang Ruobing said: "The last time I was in a second-hand bookstore, I remember you took away a book about Internet finance translated from Taiwan, right?"

"That's right." Fang Yubin replied.

Jiang Ruobing said: "I also really want to read this book, but I couldn't find it when I went to the second-hand bookstore yesterday. The one you took away is a lonely copy."

"Borrow books from me, right? Yes, but not for nothing. You have to treat me to a meal anyway." A meal is a trivial matter, and Fang Yubin really wanted to meet and chat with Jiang Ruobing.After Yuan Ruilang insisted on promoting expansion against the trend, what is the situation of Yijia?He wanted to hear Jiang Ruobing's opinion.

"No problem." Jiang Ruobing readily agreed.

After the two met and chatted for a while, Fang Yubin intentionally brought the topic to work: "How is work recently?"

"It's...not bad." Jiang Ruobing hesitated before answering.

Fang Yubin said: "Look at you like this, you can't do well. Tell me, what's bothering you?"

Jiang Ruobing said slowly: "It's not a big deal, it's just that I had a fight with Mr. Yuan a few days ago."

"You and Mr. Yuan quarreled? Why?" Fang Yubin asked curiously.

Jiang Ruobing said: "Boss Yuan wanted to transfer tens of millions of funds from the car loan department, but I firmly opposed it, so there was a disagreement."

Jiang Ruobing has always been in charge of the car loan department, and its performance is booming.Jiang Ruobing had talked with Fang Yubin before, and he was very optimistic about the car loan business, thinking that this is a feasible model of domestic P2P finance.She believes that P2P finance must survive in the cracks of big banks and focus on small loans.In microloans, the risk of credit loans is too high, and there are many people who borrow money and refuse to repay. The remaining mortgage loans generally have two options: real estate mortgage and vehicle mortgage.

The disadvantage of real estate mortgages is that there are too many differences in different regions, which makes the platform have to pay high costs.For example, a house of 100 square meters, because of the different cities and locations, the value is very different.Before lending, the staff must come to evaluate.Mortgage of vehicles is much simpler. An Audi A6, regardless of whether it is in Beijing or a small county, the price is not much different.The lender can immediately estimate the value based on the age of the vehicle as long as they pass on the information of the vehicle driving license.

Because of the collateral, the risk of running away is also minimized.For customers with high risks, the platform will pledge the vehicle, that is, keep the car key, and park the vehicle in a designated garage to ensure that the vehicle can be effectively controlled in case of bad debts.For general customers, they will not detain the vehicle, but choose to install a positioning system to track the trajectory of the vehicle.

Under Jiang Ruobing's single-handed management, Yijia Financial Holdings' car loan business has become a leader in the industry.There are construction bosses mortgage tens of millions of luxury cars in exchange for urgently needed working capital, and ordinary people borrow [-] to [-] from the platform for daily turnover.Even more gratifying is that due to the establishment of a sound risk control system, the bad debt rate of the car loan business has always been kept at a low level.

"The car loan department has plenty of cash flow, so it's no big deal to support other departments." Fang Yubin knew that Jiang Ruobing must have her reasons for rejecting Yuan Ruilang, and said this just to provoke her.

Jiang Ruobing really eloquently said: "When the Wanda Group expanded across the country, it launched dozens of Wanda Plazas at the same time. Wang Jianlin made a rule that funds between projects cannot be misappropriated. His idea is that a project's capital chain Fracture is only a local problem, but the funds between projects are borrowed and borrowed. Once there is a problem, it will be a disaster. The expansion plan launched by Mr. Yuan has made the company's capital chain very tight. The east wall complements the west wall, so if there is a slight mistake, big things will happen."

Fang Yubin took a sip of his drink and said, "Hearing your tone, you don't agree with the expansion plan?"

"Yes." Jiang Ruobing answered very simply, "After the bankruptcy of Ririjin Corporation, several P2P financial platforms have problems one after another. After the entire industry has entered an adjustment cycle, we should tighten our belts and live instead of taking risks. Expansion. Of course I know Mr. Yuan’s thoughts. I am greedy when others are fearful, and I use the industry crisis to complete bottom-hunting. But running a business is not stock speculation after all. In fact, as long as we can survive and survive, it is a big bottom-buying.”

Some time ago, the dispute between Fang Yubin and Yuan Ruilang focused on the second round of financing, but ignored the business strategy of the company.Hearing what Jiang Ruobing said, he also thought it made sense.

Jiang Ruobing continued: "The expansion strategy itself is worth reviewing, and it is even more so when it comes to tactical actions. For example, it is a taboo to borrow funds within the company in violation of regulations. Also, without collateral, thousands of It is too risky to lend to those high-risk projects with tens of thousands of funds.”

(End of this chapter)