Winning the new financial era

Chapter 448 Investment Business
On October 10, Miaofenqi Group was officially listed on the New York Stock Exchange with the stock code "MFQ".

Miaofenqi Group issued 24 million American depositary shares (ADS) at a price of US$3750 per share, raising US$9 million, making it the fourth largest stock offering in the United States this year.

The high-spirited Lu Min stood on the bell ringing platform of the New York Stock Exchange, and beside him stood a group of shareholder representatives such as Leech Financial Services, Kunlun Wanwei, Phoenix Xiangrui, Guosheng Financial Holdings, Source Code Capital, and Blue Run Ventures.

The opening price of Miaofenqi was US$34, and then skyrocketed, and the company's market value once reached US$116.98 billion.

Surpassing many well-known Internet companies such as Sina, Sohu, 58.com, Cheetah, Momo, Vipshop, and Autohome, it ranks 7th among Internet stocks.

It also surpassed Yimin Wangjin, which was frequently reduced by Zhang Yida, and its market value fell to 74.52 billion US dollars, ranking No. 1 in the market value of listed mutual gold companies.

Lu Min holds 21.6% of the shares of Miaofenqi. After listing, he immediately changed from a young man in a small town to a CEO of a listed company worth tens of billions, and a young talent.

Then investors began to play tricks.

Zhou Yahui, chairman of Kunlun Wanwei, wrote more than 1 words of investment insights and posted them in the circle of friends, reviewing the investment process of Miaofen.

Wu Shichun from Meihua Venture Capital: Miaofenqi is another investment case with a return of more than 1000 times.

Lu Min also chanted his slogan: Before the company reaches a market value of [-] billion US dollars, it will not receive a single salary.

The media is very interested in this "Internet celebrity" company. It started with campus loans and invested by Leech Financial Services. It took three years and seven months to complete the transformation from a start-up to tens of billions of dollars.

Faced with various digging questions from the media, Lu Min gave some interesting answers.

"Have you loaned money to students?"

"I borrowed it 15 years ago, but it didn't make any money, and I lost hundreds of millions. Then the country stopped it..."

"Have you deliberately instigated people to borrow money from relatives and friends when you can't repay it, or borrow money from other platforms to repay your money?"

"No. If you don't pay back after the due date, we have bad debts here. For our bad debts, we will never urge them to pay back the money. They will not call them. If you don't pay back the money, forget it, and give it to you as a welfare. that's it."

"It's because of our business model. Our bad debt ratio is less than 0.5%..."

When Lu Min faced the reporter's interview, he seemed too hypocritical.

When the news was sent back to China, it immediately caused a heinous controversy.

Some people think that Lu Min's rise is immoral with original sin, and can be called black gold.

Some people also think that Lu Min, whose father is a farmer and mother is an elementary school teacher, has given great encouragement to grassroots entrepreneurs in this era when it is difficult to have a son from a poor family.

"Miao's listing in installments, after tens of billions of dollars, the wealth has finally washed away the original sin"

"Domestic Criticism, International Appreciation, The Original Sin Behind Miaofen's Listing"

……

Lu Min and his company have contributed hundreds of thousands of popular articles to the country.

At the same time, many domestic cash loan entrepreneurs are also focusing on Miaofenqi.

The listing of Miaofenqi has given them great encouragement, and countless cash loan companies are already on the way to listing.

Zhang Yida watched all this with cold eyes.Ruixiang invested RMB 800 million in Miaofen installment and earned RMB 21.2 billion.

Among them, 10 billion was allocated to the Ruixiang Public Welfare Foundation for afforestation and rural poverty alleviation.

Many foreign shareholders expressed their opposition and incomprehension to this matter.

Originally, Zhang Yida wanted to donate all of them, but too many shareholders objected.

Finally, the amount was reduced to 10 billion yuan before the resolution of the board of directors was passed.

Stimulated by the good news brought by Miaofenqi, the stock prices of Yimin Wangjin, Yimin Loan, and Yimin Wealth all rose considerably.

But Zhang Yida's instruction to the people in the family office is: reduce holdings vigorously.

So the stock price was hit by his reduction of holdings again, and it fell a lot instead.

On the third day of Miao’s phased listing, the Southeast Asian “Little Penguin” Sea Group, which Ruixiang invested in, was also listed on the New York Stock Exchange.

The company's main business is games and e-commerce, and its listing has performed well, with a market value of more than US$50 billion.

Penguin holds a 39.7% stake in the company, making it the biggest winner.

After several rounds of follow-up investment, Ruixiang also holds 5.67% of the shares of Sea Group. The return on investment is not high, and it is still close to doubling.

Zhang Yida knew that the company still had strong stamina, so he decided to hold this part of the equity for a long time.

Sea Group is also the agent of PlayerUnknown's Battlegrounds in Southeast Asia, and the strategic partnership with Blue Hole has also been transferred to Zhonghe Group through the merger.

On the eve of the listing, Li Xiaodong also called Zhang Yida and asked if the latter wanted to ring the bell together.

Zhang Yida declined Li Xiaodong's invitation, there was no need to join in the fun.

……

Lee Tae-hee, the Indian founder of OYO, came to the capital.The Indian market was almost occupied by him, so he decided to enter China.

Since I want to come to China to hang out, I have to come out to pay my respects to the pier.

As the host and the shareholder of OYO Hotel, Zhang Yida invited him to visit Ruixiang Group and Zhonghe Group.

Although far away in India, Lee Tae Hee has heard of these two super unicorns.

"I heard that you are at war with the Penguin Group with a market value of 4000 billion dollars?"

Zhang Yida didn't reply positively, but said with a smile: "Xiao Li, you are very well informed!"

"It seems to be true, Mr. Zhang, your courage is really admirable!"

Zhang Yida waved his hand, his face gradually became serious, "In order for emerging forces to rise, they must subvert traditional forces."

Li Taixi nodded, agreeing with this sentence very much.Their OYO model is also subverting traditional forces.

"Mr. Zhang, if I introduce the OYO model into China, will I be counterattacked by traditional forces?"

Zhang Yida smiled and jokingly said, "What do you think?"

Li Taixi nodded, indicating that he understood.

"Mr. Huang Xin from Meituan and Mr. Liang Jianzhang from Ctrip, Mr. Zhang, can you introduce me to these two?"

It seems that Xiao Li has done his homework and knows which temples to worship.

Zhang Yida smiled and said, "No problem! I'll make an appointment for you later."

"That's great, thank you so much!"

Zhang Yida laughed and said, "We are friends! Don't take offense!"

Then Zhang Yida took Li Taixi to eat authentic Beijing roast duck.

Lee Tae Hee ate his mouth full of oil, and said with a smile: "This is definitely the most delicious food I have ever eaten, even better than the curry in our hometown."

Zhang Yida laughed and said, "Really? Then I'll order another one."

Li Taexi burped, and he ate two, he quickly waved his hand and said, "No, I'm full."

Zhang Yida sighed, "Xiao Li, I might have to sell the shares in OYO."

"what?"

Li Taixi was a little surprised, he didn't understand why Zhang Yida did this.

Zhang Yida also said: "Zhonghe Group has encountered a lot of financial pressure, and I can only raise funds everywhere."

Li Taixi understood Zhang Yida a little bit, how difficult it is to face a behemoth with hundreds of billions of dollars.

"Okay! Who are you selling the shares to?"

Zhang Yida said with a smile: "I have negotiated with Mr. Masayoshi Son, SoftBank Vision Fund is willing to take over these shares."

Hearing that it was Masayoshi Son and Softbank, Lee Tae Hee breathed a sigh of relief.Softbank itself is a shareholder of OYO and an important supporter of him.

Zhang Yida transferred his equity to SoftBank, he has nothing unacceptable.

It's just that the loss of a well-connected shareholder like Zhang Yida in China is not good for the development of OYO!

The next day, Zhang Yida brought his classmate Xiao Li to meet Huang Xin and Liang Jianzhang.

Huang Xin and Liang Jianzhang were really trying to save Zhang Yida's face, and agreed to establish a cooperation with OYO.

The current OYO does not have its own OTA platform, and it does not pose any threat to Meituan and Ctrip.

But Zhang Yida knew that Xiao Li was also an old cunt, and he wanted to roll out hotels offline first, and then provide one-stop travel solutions, including hotels, tour guides, catering, air tickets and visas, etc.

Isn’t it forcing OTA giants to block OYO by doing this?
It will be at least next year for the two sides to tear each other apart.Zhang Yida can't control that much anymore, and the shares will be sold at that time, which has little to do with him.

After negotiating the cooperation with Li Taexi, Zhang Yida completed the equity transfer with the Softbank people.

At a valuation of US$20 billion, the 16% stake it held was transferred in exchange for US$3.2 million in cash.

(End of this chapter)