Winning the new financial era

Chapter 620 Merging

After entering April, there was good news from Bayer Animal Health. The professional managers and consulting companies hired by the Chinese consortium finally straightened out the business and paid the final balance of the equity transaction.

The large transaction of 80 billion US dollars, including the early contact and the later handover, took nearly a year before and after.

For such a large-scale acquisition, the time-consuming is not too long, it can only be said to be average.

The larger the case, the more complex the business and people involved.

It’s not about paying the money and delivering the goods at the same time. Due diligence is very important to prevent stepping on pitfalls. Handover work is also very important to ensure a smooth transition of personnel and business.

Tens of billions of RMB have been spent, so it is natural to be cautious.

Zhang Yida and the other two investment institutions did not urge the professional managers to integrate patiently.

Now that the integration work is also over, it's time to perform the real technology.

Therefore, Zhang Yida invited Shen Beipeng and Zhang Sanshi to Petnet to talk about the next "assembly work".

Lu Fenghai, as the CEO of Pet Holdings, also attended the meeting.

Looking at Zhang Yida, Shen Beipeng, and Zhang Sanshi who were sitting on the field, he couldn't help feeling a little excited.

These are all tycoons who are active in China's Internet circles and venture capital circles.

Sitting here today, on one theme, we will assemble Pet Holdings into a super unicorn in the pet world.

Lu Fenghai felt that the most correct thing he did in his life was to accept the recommendation of angel investor Xu Xiaoming and join Zhang Yida's team after failing to start a business. He built Petnet from scratch, and now Pet Holding Group .

The reputation of Pet Holding Group is not obvious, and it is not as good as star companies such as Ruixiang and Yimin Wangjin, but it can be regarded as a veteran unicorn.

In the pet world, it is a well-deserved overlord.

Last year, Lu Fenghai knew that Zhang Yida formed a Chinese consortium to acquire Bayer Animal Health.

At the same time, he also knew that Bayer Animal Insurance would be included in the Pate Holdings system to create a unicorn with a market value of [-] billion.

But he hasn't taken any specific actions, so he can only wait on the sidelines and worry.

However, there was one thing that reassured him a lot.

The medicines of Bayer Animal Health are continuously put on the shelves of Patenet Mall, and the offline shelves of Pate Hospital are also full of Bayer Animal Health medicines.

The joint venture company Pate Pharmaceuticals, which is jointly established with Jingda Medical Group, a subsidiary of Jingda Founder, is also continuously obtaining pharmaceutical authorization from Bayer Animal Health to research some domestic generic drugs.

There are indications that the day of merger is very near.

Today, it's finally time to kick off.

Zhang Yida, Shen Beipeng, and Zhang Sanshi were chatting about what to do next, while he listened quietly from the sidelines.

"Feng Hai, show Mr. Shen and Mr. Zhang the achievements Pet Holdings has made in recent years."

After chatting for a while, Zhang Yida felt that it was almost done, and it was time for the main course.

Lu Fenghai nodded, and began to show the PPT under the gaze of the three of them.

"Pate Holdings currently has four major subsidiaries, the wholly-owned pet e-commerce brand Pate.com, the pet medical brand Pate Pet Hospital, the holding 51% of the pet food brand Dogford, and the holding 80% of Pate Medicine. .”

Shen Beipeng and Zhang Sanshi looked at each other and nodded, approving the business layout of Pater Holdings.

Zhang Yida always had a faint smile on his face, and the layout of more than five years finally ushered in the harvest time.

Seeing that the three of them had no questions to ask, Lu Fenghai continued to introduce: "The GMV of Patenet in 2018 was 212 billion yuan, and this year it is expected to be between 280 billion yuan and 300 billion yuan."

Lu Fenghai called up a series of charts, the bar chart clearly marked the GMV of each month, and there was a steep upward curve beside it.

The Black Shirt Capital behind Shen Beipeng was originally a shareholder of Patenet. He has read the annual performance report, so it is no surprise at this time.

Zhang Sanshi was different, he was slightly moved, and then suddenly realized: "No wonder, I heard that many pet sellers on Taobao and Tmall have gone to Petnet to set up shop. The rumors are true, haha!"

Lu Fenghai smiled modestly, "It's okay, they have the advantage of size, and vertical e-commerce can't monopolize the sale of pet products.

We have launched mini programs on Douvision, Kuaishou, and Xiaohongshu, and put in a lot of short video creative materials, which have now become a new growth point for Patenet.

In addition, several live broadcasting platforms of Ruixiang have also opened up with Petnet, and live broadcasting is also our new focus.

There is also Pinduoduo, which is a strategic partnership with us, and Dogford has opened a store in Pinduoduo. "

Zhang Sanshi glanced at Zhang Yida, it really cost money!
Zhang Yida laughed, "Normal cooperation is normal cooperation, and the money that should be given is not less."

How dare Zhang Yida engage in insider trading? Rui Xiang has such a large body, with so many pairs of eyes staring up and down.

However, Patenet did enjoy a lot of benefits brought by Zhang Yida, the major shareholder. Even if other home appliance business platforms come with money, they cannot share the traffic of Ruixiang system.

Ruixiang Industrial Investment Fund has also invested in Petro Holdings, so it makes sense to cooperate more closely.

Lu Fenghai continued to introduce: "Pate Pet Hospital has opened 284 chain hospitals across the country, all of which are located in first- and second-tier cities.

According to Dogford, the revenue in 2018 was 32.5 billion and the net profit was 5.2 million. "

Speaking of this, Lu Feng paused for a moment, and added: "When acquiring Dogford three years ago, we signed a VAM agreement.

Dogford is required to achieve a net profit of no less than 11.4 billion for three years, which has already exceeded the bet. "

Shen Beipeng nodded, "This is a very cost-effective transaction, and we obtained 5.1% of Dogford's shares at the price of an additional US$51 million in equity.

Dogford's steady stream of profits has greatly supported Pat's expansion plans. "

Zhang Sanshi nodded slightly. He also knew about this, and also knew that Dogford was originally Zhang Yida's family business, which had been run by Zhang Yida's father, Zhang Qinghua.

"What's the situation with Pate Medicine?"

Zhang Sanshi asked suspiciously, "Isn't Jingda Medical Group a doctor?"

Zhang Yida explained aloud, "Jingda Medical Group is a subsidiary group of Founder, which includes not only hospitals but also pharmaceutical companies.

In fact, some medicines can be shared between pets and people, so we are cooperating with them in this regard.

At that time, Bayer Animal Health had not been acquired, so it wanted to make up for the shortcoming of medicine. "

"Have any new drugs been developed?" Zhang Sanshi asked. This question is very important. The most important thing for the pharmaceutical group is the research and development capabilities.

If a new drug is developed, it is really a rolling profit.

Lu Fenghai shook his head, "After all, we are not specialized in veterinary drugs. We are mainly researching and developing some alternative drugs. After being authorized by Bayer, we are imitating some low-cost domestic veterinary drugs."

Zhang Sanshi also nodded in understanding, biomedical technology is indeed far behind the international first-class level in China.

(End of this chapter)