Winning the new financial era

Chapter 278

a few days later.

Lan Lan took the lead and brought a group of investors to Huimin Travel Group.

Huang Xiaofeng came forward to receive Lan Lan and his group. In addition to the Ruixiang Industrial Investment Fund represented by Lan Lan, there were also investors such as Temasek, CITIC Industrial Fund, Futukang, and Penguin.

After reading the operating report and financial report provided by Huang Xiaofeng, several big capitalists frowned.

Penguin is an old shareholder, so Ren Yu is not unfamiliar with the financial situation of Huimin Travel Group. He has known about the huge loss for a long time, so he looks normal after reading the report.

Lan Lan also accepted Zhang Yida's instructions in advance, so she read the report and didn't say anything.

Investment representatives from CITIC Industrial Fund, Temasek, and Futukang couldn't sit still.

In particular, Futukang, who started out in the manufacturing industry, attaches great importance to corporate profits.

Zhang Quan, representative of Futukang Investment, asked directly: "Didn't Huimin Travel just raise 15 billion U.S. dollars? Only 1 million yuan is left in the account? Is it still RMB?"

If it weren't for Zhang Yida's reputation, he would have asked Huang Xiaofeng directly: Have you transferred funds?
Huang Xiaofeng also expected that the employer would ask such a question, so he was well prepared.

He shook his head calmly, and said with a smile: "Huimin Travel has newly launched 500 million bicycles, and this alone costs 50 billion yuan.

In addition, the price for the acquisition of Baimo Bicycle is 3.6 million US dollars, including an additional 1.8 million US dollars of shares and 1.8 million yuan in cash..."

Huang Xiaofeng also did a lot of homework. Without looking at the materials, he just listed the major expenditures to the potential investors present.

Wei Cheng of CITIC Industry Investment Fund helped the glasses on his nose and said, "If Mr. Huang is not wrong, Huimin Travel Group has injected more than 1 million US dollars into Green!"

He pointed to the materials in front of him again, and said, "I just looked at this pile of materials, and there is no data for Green."

Wei Cheng smiled, "I don't know if Huimin Travel Group has neglected to make materials, or Green is not included in this financing?"

Other investors also turned their attention to Huang Xiaofeng to see how he would explain it.

Huang Xiaofeng pursed his lips and smiled, and looked at Wei Cheng, "Mr. Wei is really careful, every detail can't escape your eyes."

Wei Cheng's smile remained undiminished, and he didn't make any statement. He just ate this bowl of rice, so how could he neglect such an important subsidiary company.

All the public materials of Huimin Travel Group have been sorted out by their company, and he has carefully studied it several times.

I dare not say that I know Huimin Travel like the back of my hand, but I have a very clear understanding of the general business situation and subsidiaries.

"I'm about to explain this to everyone, but since Mr. Wei asked about it, I'll just say it straight! Huimin Travel has split Green, and there will be no equity relationship between the two companies in the future."

When Huang Xiaofeng said this, everyone except Ren Yu and Lan Lan were a little surprised.

Without Green, what impact will it have on Huimin Travel Group?
Other investors are starting to think about it.

Huang Xiaofeng added: "Here, I would like to say sorry to everyone. Because the shareholding has only been split not long ago, I haven't had time to inform everyone.

If you feel that the lack of Green's Huimin Travel Group will affect the investment plan, you can withdraw now. "

Investors did not speak, and began to digest the news.

Without Green's Huimin Travel Group, most of the business is concentrated in China.

It should be said that in addition to joint ventures with several small bicycle brands in foreign countries, more than 95% of its business and assets are in China.

The color of multinational companies has faded, which makes Wei Cheng quite disappointed.

"I'm sorry, Mr. Huang, I need to ask the company for instructions before making further plans."

Wei Cheng took the lead, and other investors also stated that they wanted to consult the company's superiors.

The meeting ended here, and everyone else went out of the office to give feedback to their superiors.

Only Ren Yu and Lan Lan didn't leave the office. Both of them knew about Green's separation, so they didn't need to ask their superiors.

The two started chatting, and Ren Yu said with a smile, "Ruixiang has made a big splash in Southeast Asia this time, raising 25 billion US dollars in one fell swoop. Is Mr. Lan interested in forming an alliance with Penguin Industrial Fund and cooperating to invest in some funds?" project?"

"Alliance?"

Lan Lan murmured something silently in her heart, she didn't dare to make a decision, she smiled at Ren Yu, "This is a good idea, but I have to ask Mr. Zhang for instructions."

"Of course!"

As the helm of Penguin Industrial Fund, Ren Yu pays more attention to the actions of Ruixiang Industrial Fund in Southeast Asia and even India.

Knowing that Ruixiang has invested in many good projects, it is slightly ahead of Penguin in terms of quantity and quality.

This gave him a sense of crisis, and he decided to get closer to Ruixiang Industry Fund to see the performance.

The two didn't chat for long, and the other investors also returned to the office one by one.

Even if Huimin Travel Group splits Green, it is still a good project in the eyes of other investors.

Not to mention the status of the king in the field of shared bicycles, it is about to tear a hole in the online car-hailing.

This kind of high-quality project, venture capital companies will not miss it just because they cut Green.

But since Green is cut, the valuation must be discounted.

On this point, when several investors went out to ask their superiors for instructions, they met and reached a preliminary consensus.

"Mr. Huang, there is no problem with CITIC Industrial Investment Fund, and it will participate in this round of financing for Huimin Travel."

Wei Cheng took the lead in expressing his attitude, and other investors followed suit and replied that they would continue to participate in the financing.

"In terms of valuation, the last round of Huimin Travel was invested by Penguin, and the valuation at that time was US$40 billion.

It has been less than half a year, and all the data of Huimin Travel have achieved leapfrog breakthroughs.

There are more than 1 million registered users, more than 2100 million daily active users, and more than 3000 million ride orders per day..."

Huang Xiaofeng also introduced the various business data of Huimin Travel, including the newly launched aggregated taxi and ride-hailing data.

"However, Huimin Travel cut Green, and I heard that Green has developed very well in North America, covering dozens of cities.

If Green is removed, I think that the value of Huimin Travel will be reduced by US$10 billion. "

Futukang Zhang Quan's speech won the unanimous consent of other investors.

They all voiced their support for Zhang Quan.

"Remove Green, Huimin Travel's valuation is US$30 billion, and Temasek recognizes it."

"CITIC Industrial Fund also recognized!"

Those who spoke turned their attention to the two who did not speak, Ren Yu and Lan Lan.

Ren Yu coughed twice, "The valuation of 30 billion US dollars has triggered the ratchet clause."

Lan Lan didn't make a statement, but turned her attention to Huang Xiaofeng.

Huang Xiaofeng followed Zhang Yida to participate in several rounds of financing for Huimin travel, so he naturally knew that at this time he had to show the momentum of Huimin travel.

He smiled, "Green's development is indeed good, $10 billion is underestimated."

But then he changed his voice, "But the basic business of Huimin Travel has not fallen? Based on the valuation of 30 billion US dollars, what is the result of Huimin Travel's hard work in the past six months?
There are also aggregation taxis and ride-hailing, these two businesses have made Chen Wei sleepless.

Didi claims to have a valuation of more than 200 billion U.S. dollars, and we only have 5% of his volume, so it can be valued at 10 billion U.S. dollars! "

As a venture capitalist, who hasn't experienced all kinds of fierce negotiations!I have long understood a truth, to achieve great things, you have to be able to bargain!
It was Wei Cheng's turn to vent. He didn't directly object to Huang Xiaofeng's words, but started to make a fuss about the huge loss of Huimin's travel.

He said: "After deducting new car launches, mergers and acquisitions and other factors, the monthly operating loss of Huimin Travel is as high as hundreds of millions!"

"It is mainly reflected in the depreciation of bicycles and freight vehicles. Cycling revenue and advertising revenue can basically be equal to daily expenses such as personnel salaries and marketing expenses."

A representative of Temasek Investment said: "However, in the actual operation of the enterprise, it is impossible not to consider the depreciation of bicycles.

These bicycles may be eliminated from the market after two or three years because of damage.

This requires us to consider new inputs.

The current round of Huimin Travel is already the C round of financing. With a volume of billions of dollars, "profit" must be put on the agenda. "

Weak profitability has always been a major pain point for Huimin travel.

Other investors have also spoken out one after another, and they have been biting this question.

They didn't really question Huimin Bicycle's profitability, otherwise they wouldn't have participated in financing.

At present, as long as Huimin Travel can eliminate other bicycles, and then charge all bicycles, or even increase the price a little, profit is not a problem at all.

They just used this bargaining chip to bargain, and wanted to cut down the valuation of Huimin Travel.

Huang Xiaofeng also has goods in his stomach. He will cooperate with Pinduoduo's upcoming traffic portal, and Ruixiang's upcoming payment portal, and Yimindai's upcoming loan portal...and a series of revenue expansion plans The plans are all told.

He said that the profitability of Huimin travel is not a problem at all.At present, the number of users has just exceeded 1 million, and the future Huimin Mobility will become a national-level application with more than 5 million users.

It is still in the circle of users, and the mature season has not yet come, so it cannot be harvested rashly.

After Huimin Travel's business covers all cities in China, the shared bicycle business accounts for more than 90% of the share, becoming the absolute overlord.

The free policy can be abolished, and the price of shared bicycles can be increased at the same time. The revenue can be increased by 3 times and 5 times on the current basis.

The second half of Huang Xiaofeng's words, 5 million users, three times and five times the revenue, several investors are dubious.

But in the first half of the story, several investors still believed in the cooperation with Ruixiang, Pinduoduo, Yimindai and other companies.

This is the "reversal of ecology", the advanced concept proposed by Boss Jia some time ago.

It will take 17 years for Boss Jia to be unlucky, and he is still the darling of the capital world. The views he put forward are still very remarkable to several investors.

Several investors also believed that Zhang Yida would use other properties in his hands to provide blood transfusions for Huimin travel.

Deposit wealth management is a good example. 75% of the profits go to Huimin Travel, while Ruimin Wealth Management only takes 25% of the profits and has to bear various financial risks.

If Ruixiang, Pinduoduo and other companies can do as much as Ruimin Financial Management, Huimin Travel will almost take off.

Several investors made their own calculations, Huimin Travel's bicycles worth 70 billion yuan, after three years of depreciation, will be 23.3 billion yuan a year;

Plus more than a billion in salary, as well as research and development expenditures, and various other costs.

Investors estimate that Huimin Travel's annual revenue of 50 billion yuan can still cover the cost.

Huimin Travel's revenue of 18.5 billion last year, although still far from 50 billion, still gave investors some confidence.

"Mr. Huang, can you tell us about your valuation of Huimin Travel Group?"

Huang Xiaofeng remembered the figures Zhang Yida explained, and blurted out:

"$60 billion!"

　Thanks to Go Pikachu for the reward!
　　
　
(End of this chapter)