Winning the new financial era

Chapter 199 Pulling the National Team On Board
"Welcome all leaders to come to Ruixiang to guide our work."

Sharp to the conference room, Zhang Yida shook hands with the leaders of the banking and insurance departments one by one.

"Mr. Zhang, you don't need to be so polite. I came to Ruixiang this time, but I came to make a fortune with you, an entrepreneurial genius.

You have to take care of it! "

The person who spoke was the head of the investment department of the China Development Bank. Although he was backed by a big tree, he did not show any official authority.

China Development Bank is a policy bank with a registered capital of more than 4000 billion RMB and assets under management of more than 12 trillion RMB...

"Where is it, I'm just making a fuss." Zhang Yida said modestly. Everyone here is a big boss, not only working in large banks and insurance institutions, but also in the administrative establishment.

"Mr. Zhang, please introduce us to Ruixiang Group! You and Leech Financial Services are the most popular financial technology companies in the past two years!
Show us any high-tech products, and let us open our eyes. "

The person who spoke was the head of the investment department of CICC, an elegant middle-aged man wearing glasses.

Yimin Wangjin was listed and took care of the business of CICC Securities, and they reciprocated by participating in the D round financing negotiation of Ruixiang Group.

"I know Ruixiang Group's Mobao Payment, and your mobile payment business has been promoted very well. You can scan a QR code to pay for a bottle of water on the street, which is really convenient."

The general manager of the investment department of China Pacific Insurance said so.

"Haha, is that right? Mobao Pay has been stepping up promotion efforts this year, and now has more than 1 million active transaction users."

Zhang Yida said to the boss of Pacific Insurance with a smile, and his hands were not idle. He quickly turned on the projector in the meeting room, released the introduction PPT, and began to introduce:

"Ruixiang Financial Technology Group was established in October 2013. It currently has 10 employees, 3528% of whom are scientific and technological personnel. It is a new financial enterprise driven by technology...

The entire group has five major business divisions, involving payment, financial supermarkets, finance, consumer finance, wealth management, personal big data credit investigation, financial technology ToB output... and many other products and services.

The total number of domestic registered users exceeds 3.5 million, and it has achieved the industry's first position in many fields...

Overseas, Grab.Pay is a joint venture between Sharp and Singapore's leading Internet company Grab, holding 49% of the joint venture company...

R.Pay was established as a joint venture with three well-known Internet companies such as GoJek in Indonesia, holding 51% of the shares of the joint venture company...

There are several mobile payment companies in South Korea and India, and Ruixiang is also negotiating with each other. The next step is to establish two local mobile payment companies in the two countries, either through joint ventures or acquisitions...

In addition, Ruixiang has also invested in dozens of domestic and overseas Internet companies, and most of them have entered the next round of financing...

The paper return on investment has exceeded $10 billion...”

"Amazing! In just two years, Ruixiang Group has made such great achievements.

He also made the business overseas, showing off the prestige of our country! "

After listening to Zhang Yida's introduction, the general manager of Bank of China Capital was the first to praise.

"We are also responding to the country's call for the Belt and Road Initiative, going abroad and going overseas to let the world see the technological capabilities of our Chinese companies."

Zhang Yida knew that the leaders here liked to hear this, so he said it nicely.

"Yes, keeping up with the times, Mr. Zhang has a good vision!"

The general manager of ICBC Capital gave Zhang Yida a thumbs up and praised him.

"Ruixiang is a good investment target, Mr. Zhang, let's talk about the valuation!"

The CEO of CCB International was quick to speak and made an inquiry directly.

Zhang Yida took a deep breath and said, "The pre-investment is US$252 billion!"

This price startled the General Manager of Agricultural Bank of China Investment, who had not spoken for a long time, and said:

"How much? 252 billion US dollars? It's too expensive!"

Several other bosses also nodded and said:
"Mr. Zhang, the last round of financing was only 100 billion US dollars! It's more than doubled in less than a year!"

"Yes! Ruixiang has only been established for two years! With a valuation of 252 billion US dollars, the bubble is too big."

"The assets we manage belong to the party and the people, and they must be paid to the party and the people. Mr. Zhang, you can't ask for prices indiscriminately!"

"That's right, Mr. Zhang, we are not those foreign venture capitalists. Let's pay attention to something real."

Zhang Yida had known their reaction for a long time, smiled, and said:
"After excluding Mobao payment, AI, big data, blockchain, and cloud computing, Ruixiang Group's net profit in 14 was RMB 47 billion.

According to 30 times PE, the valuation of this part of the business can reach 1410 billion yuan, which is 230 billion U.S. dollars when converted into U.S. dollars.

For the four cutting-edge technologies, we invested billions in research and development, and the valuation will not be less than 20 billion US dollars.

The other one is Mobao Pay, our size is almost one-sixth of Paybe.

Leech Financial Services is valued at more than US$500 billion, and two-thirds of it is accounted for by Alipay, which is US$333 billion.

Mobao Pay is valued at US$55 billion, not an exaggeration!

Ruixiang Industrial Investment Fund also holds stakes in dozens of Internet companies worth more than $20 billion.Among them, the part belonging to Ruixiang’s capital contribution and dividends is worth more than 10 billion US dollars.

There are so many things, and the combined valuation of Ruixiang should be 315 billion US dollars. "

Zhang Yida looked at the faces of all the bosses, and there were surprises, doubts, joy, and mixed reactions.Then said:

"I also want to make a contribution to the country, so I discounted the valuation by 8%, from US$315 billion to US$252 billion.

This kind of concession is not available to everyone.

The goal of sharpening the future is to become a financial technology company that attracts the attention of the world with a valuation of hundreds of billions of dollars. "

Zhang Yida shouted slogans very loudly, and no one answered. How could they fail to understand Zhang Yida's intentions.

I and others represent the four major banks of China Construction Industry and Agriculture Bank, plus China Development Bank, and China Pacific Insurance.

With the participation of these 6 companies, it will definitely be like a fish in water for the endorsement of Ruixiang and the future development of domestic business for Ruixiang.

What a contribution to the country!Just keep fooling around!
As for Ruixiang's goal of 2 billion U.S. dollars, considering all the miracles created by Zhang Yida in the past two years, it is very possible to achieve it.

A college student made a breakthrough from 0 to [-] billion US dollars in two years.

It seems that there is such a genius in the United States, named Zuckerberg, who made a social software, and now the valuation is hundreds of billions of dollars.

Our country has a large population, which is more than three times that of the United States. It is normal for such a genius to come out!
Ari, isn’t Penguin worth hundreds of billions of dollars? Ruixiang’s Mobao Payment has withstood the pressure of these two giants, and its payment market share has risen instead of falling.

In the future, there is still a slight possibility of reaching or even surpassing these two giants, although the possibility is unlikely.

"30 times the price-earnings ratio is a bit too high! Financial stocks, like our four big banks, are only five or six times."

The general manager of Bank of China Capital retorted.

"Yes, ICBC has been listed for so many years, and the price-earnings ratio has hardly exceeded 10 times.

30 times, that's ridiculous. "

"That's right! According to this valuation, Ruixiang is almost catching up with our CCB."

"Bosses, we are not a traditional financial institution. We are Internet finance. How can the valuation be compared to traditional companies?

Benchmark Penguin, Ali, 30 times PE, nothing more normal. "

Zhang Yida argued hard, he really wanted to get these companies to buy shares.

Leech Financial Services was so good in the previous life, didn't it attract the entry of China Development Bank and the four major insurance companies.

China is a society of human relations, and there are people in the DPRK and China who are easy to handle.

"At most 15 times the valuation, the basic business gives you a valuation of 115 billion U.S. dollars, and other businesses are included, which adds up to a 200 billion U.S. dollar valuation.

As for the 8% discount, we don't want yours either.The country does not take advantage of you. "

The general manager of Agricultural Bank of China Investment is also a ruthless person, who cut down 52 billion US dollars with one knife.

"According to this valuation method, Temasek, Blackshirt Capital, I can't explain to these foreign shareholders!"

Zhang Yida began to use foreign capital as a shield, but to be honest, with 15 times PE financing, foreign capital will definitely cause trouble.

It is suspected that Zhang Yida conveyed benefits or something.If it doesn't work, just like Jack Ma, his international reputation will be ruined.

"Mr. Zhang, then you need to communicate with foreign shareholders.

The six major shareholders of us who invest in Ruixiang Group will not only bring capital, but also abundant resources.

Including our respective companies can further deepen cooperation with Ruixiang.

Sometimes, this resource is the most priceless. "

The CEO of the China Development Bank spoke. In terms of rank, he is the highest among the people present, so the other major institutions follow his example.

Zhang Yida knew what he meant, and wanted to convert the resources into shares.

There is nothing wrong with doing this.

But Zhang Yida has already given a discount of more than 60 billion US dollars. If there is any discount, other shareholders can't explain it.

"The price is too low, and I have been criticized by foreign shareholders for making so much concessions.

If you make further concessions, foreigners will not rub the sand in their eyes.

They will feel that their interests have been harmed, and if they make trouble internationally, it will be troublesome for Ruixiang to raise funds in the future.

Ruixiang's overall business layout needs to be expanded, especially overseas business, and sovereign wealth funds from multiple countries may also be introduced.

I can't just cut off the road to the future for this round of financing. "

Zhang Yida's tone was firm, and he would not back down even if he was beaten to death.

Several bosses looked at each other, and finally the boss of Taibao came out and said:

"Let's do this! Let's add another 10 billion US dollars, and 210 billion US dollars is our final bottom line."

"Bosses, let's do this! I will sign a gambling agreement with you, and I will bet on the valuation of the next round of financing.

If the valuation of the next round of financing does not reach 400 billion U.S. dollars, I will transfer part of the equity to you as compensation. "

Zhang Yida knew that no matter how he tried to fool him, he couldn't fool this group of bureaucrats.

Should you invest in Ruixiang?For them, it's not particularly important.

What do they think?Do not seek meritorious service, but seek no faults.

If the investment is sharp, the valuation is high, and the investment loses, but you have to bear the responsibility and hit the board.

In particular, the investment in Ruixiang is not a small amount, starting from hundreds of millions of dollars.

With such a large amount of money, what kind of problems will arise, which will affect the official career!

"How long is the next round of financing? There is a time limit! It can't be three to five years!
There is also equity compensation, what kind of compensation method.Let's talk together! "

The boss of Agricultural Bank of China Investment felt that Zhang Yida's idea was quite good, so he asked again.

"The time limit for the next round of financing is within two years. If the pre-investment valuation of 400 billion US dollars has not been reached, this round of financing will be based on 210 US dollars.

The management of Ruixiang will compensate you for the difference in shares. "

Several bosses did not speak, and began to measure up.

With this plan, they feel that the income is guaranteed in drought and flood, and they don't have to worry about taking risks and taking responsibility.

If Ruixiang's valuation exceeds 400 billion US dollars within two years, their annual return on investment will be more than [-] points.

If it does not reach 400 billion US dollars, the management of Ruixiang will compensate them with equity, and they will not suffer a loss.

As for the next round of valuation below 250 billion US dollars, conventional venture capital itself has a ratchet clause, and the valuation has dropped, which also requires the management team to make equity compensation.

Don't worry!
　In the new year, I wish the book friends and their families happiness, good health and all the best!

　　
　
(End of this chapter)