The Pentium Era - South to North

Zhang Xiangbei returned to Hangzhou, told Wu Huan about Han Song, and appointed Ding Mianli as the general manager of their Hefei branch. Zhang Xiangbei had discussed it with Wu Huan in advance. Although Wu Huan had some objections to the appointment, But Zhang Xiangbei convinced her and told her that Ding Mianli was a talent.

Wu Huan also thought that instead of putting Ding Mianli in other branches to work, it would be better to let him prepare for the establishment of a new company. The business of other branches is developing well. If there is chaos, it will affect the efficiency of the company. The new company Anyway, the business hasn't even started yet, so even if it doesn't work, it won't have any impact. The worst thing is to change someone and continue the preparations.

On the other hand, Wu Huan was very dissatisfied with the matter of re-hiring Han Song, and felt that this would be a bad start. However, Zhang Xiangbei had already made a decision, and everyone in his family followed Ding Mianli to Hefei. Even if Wu Huan had objections, It's no use. You can't chase someone with a piece of paper and fire them again.

Wu Huan sighed and said: "I just regret it. I really should have killed these two people directly, and killed them first and played later."

Zhang Xiangbei laughed loudly: "This time I killed him first and then played the show. However, you haven't seen Han Song's current appearance. He looks a bit miserable."

Zhang Xiangbei described Han Song's current appearance to Wu Huan. Wu Huan didn't feel how miserable it was, but she felt like she was relieved and happy. She said:

"If these people are still dealt with like this by the Second Commander, be careful you end up becoming Mr. Dong Guo."

As she spoke, she looked at her watch and urged Zhang Xiangbei to say:

"You can go back after get off work. The boss told me that I will drive you back when the time comes."

Zhang Xiangbei said: "Okay, I'll leave now."

Wu Huan stood up and walked towards the door of the office. After taking two steps, he turned back and asked, "Who is here today? The boss pays so much attention to it?"

Zhang Xiangbei said: "I'm not sure, but her senior at Yale, who is also my senior, said she must meet me."

Wu Huan nodded and understood.

The senior came here mainly to discuss with Zhang Chen, Xiaofang and Liu Yun about the B-round financing of "Diet Man and Woman". After the A round of "Diet Man and Woman", it accelerated its expansion and now has branches in more than 70 cities across the country. After establishing a branch, the business is doing very well and the level of profitability is also very good.

Although the company has not yet needed new funds, Xiaofang said that when the time comes, it must start Series B financing. She and Zhang Chen said that through rounds of financing, getting more money is one purpose. Another one is to continuously increase the company's valuation and expand the company's capital. For the capital market, companies that are not afraid of unicorns are afraid that your company is too small.

With similar arguments, Zhang Chen heard Mr. Qiao from Shenzhen Anxin Trust say many years ago that he did not understand the details and did not want to understand them. Anyway, Xiaofang and Liu Yun understood. He only knew how to do things and how to do them. Do it well.

Xiaofang and Zhang Chen said that the senior had one more thing to discuss this time.

"What's going on?" Zhang Chen asked.

"'Catering Men and Women' is an asset-light company. If this kind of company is run well, it will have a problem, that is, the asset-liability ratio is too low." Xiaofang said.

"Isn't a low asset-liability ratio a good thing? The lower it is, the smaller the company's operating risks are and the stronger its ability to resist risks." Zhang Chen didn't understand and said.

"For a company like Ban Mu Tian Group, which does not need to be listed, having a low asset-liability ratio and a large amount of cash on its books is a good thing. For a company like 'Food and Drink', which is aiming to go public, This is not a good thing. The asset-liability ratio is too low and you are not even qualified to go public.

"The logic of the stock market is to raise funds for companies that need financing. If your company has a very low asset-liability ratio and a lot of cash on the books, it means that you are not short of money at all and there is no way to go public for financing. Demand, what you want to do, you just use the money on your own account to do it, what kind of financing do you need to raise? Aren’t you still unable to use up all your own money?

"In a word, the existence of the stock market is prepared for companies that are short of money, not for companies that are not short of money. Even if you are rich, you still have to make a statement on your books that you are short of money and have a high debt ratio. You may look like this, or draw a picture of a huge pie to the market, indicating that your existing funds are simply not enough to make such a big pie." Xiaofang and Zhang Chen said.

Zhang Chen asked: "Isn't this trying to make false accounts?"

"It's not about making false accounts, it's about bookkeeping and financial processing. The same thing will completely change its nature in which subject it appears on the report, on the left or right, and under what name. For example, 'food, drink, men and women' The 'Fujia Cuisine' recipe is not reflected in the financial statements at all. It is neither a liability nor an asset of the company.

"So, is the recipe of 'Fu's Cuisine' an intellectual property? Of course it is. If it is an intellectual property, it can be purchased for 30 million, for example. In this way, 'Eating Man and Woman' will have a debt of 30 million , the debt ratio has increased, assets of 30 million have also appeared, the company's scale has also expanded, and the value of 'Fujia Cuisine' is reflected in the company's assets."

"Isn't this just changing the soup without changing the medicine?" Zhang Chen asked.

"Yes, but the name of the medicine has changed. 'Fujia Cuisine' is indeed an asset of 'Food and Drink', but this asset cannot be reflected now. It's a pity that you can't sell your own things to yourself, right? Of course. , you can also sell it to yourself. For example, the shareholders of "Diet Man and Woman" can set up another company, and this company will sell the recipes to "Diet Man and Woman".

"In this way, the actual money is still here, not less, but the liabilities and assets of 'Food and Drinking Men and Women' have increased. Another way is to evaluate, for example, the recipes of 'Fujia Cuisine' and the price For 50 million, 'Food and Drink' has 50 million more assets, and the company has expanded again."

"Okay, okay." Zhang Chen stopped him with a smile, and said, "I don't need to know this. These things are all fake and have no practical significance."

"Of course, through such financial processing, the company can meet the conditions for listing. When the company goes public, the money received is real, real money and silver. Isn't it of no practical significance?" Xiaofang asked, and Zhang Chen was stunned by the question. .

"It turns out that this is how these listed companies play." Zhang Chen said.

"Of course, otherwise, if you look at Mr. Ma, he is not short of money. Logically speaking, he can't be listed on the market. Why is he listed on the market? That's it. For example, setting up a shopping mall, each store collects a deposit, etc., and turns it into an online shopping mall. When it comes to commercial real estate in reality, the debt ratio goes up." Xiaofang said.

"These are too much trouble for me to deal with," Zhang Chen said.

"Okay, so we are the only one in charge." Xiaofang said.

Xiaofang and Zhang Xiangbei warned the senior when he came to Hangzhou this time, and asked Wu Huan to help keep an eye on it. Tonight, Zhang Chen and Xiaofang would invite the senior to have dinner at the Tuxiangyuan Hotel. Xiaofang asked Zhang Xiangbei to attend. , of course it was not that she paid special attention to her senior and wanted to please him, but she felt embarrassed. This time the senior called in advance and said to Xiaofang:

"Xiaofang, don't hide it this time. How about letting me meet Zhang Xiangbei? I made a reservation in advance."

Xiaofang smiled and said, "Okay, I'll ask him to wait for you in Hangzhou."

Xiaofang felt a little unreasonable after saying so many times whether she had seen him or not.

Zhang Xiangbei drove into the underground parking lot of the "Half Acre Field" building and parked in the internal parking space. Before he could reach the elevator, his cell phone dinged. Zhang Xiangbei picked up the phone and looked at it. , is a WeChat message sent by Xiaofang:

"We are already in the box, you can come directly."

This was because he was worried that when Zhang Xiangbei got here, he would first go to Zhang Chen's office and miss out.

Zhang Xiangbei took the elevator upstairs and arrived at the entrance of Tuxiangyuan Hotel. When the guest saw him, he came over and said to him:

"Mr. Zhang, Mr. Zhang and the others have arrived."

The greeter led him inside, and Zhang Xiangbei said quickly: "You go and do your work, I can go there by myself."

The welcoming guest smiled and said, "Okay, Mr. Zhang, I wish you a pleasant meal!"

Zhang Xiangbei walked to the door of the box. The waiter standing at the door saw him, smiled, turned around and tapped the door twice, then opened the door. Zhang Xiangbei saw that Zhang Chen, Xiaofang and Liu Yun had already arrived. The only The unknown man is about the same age as his father, so he must be the senior.

When the senior saw Zhang Xiangbei, he immediately stood up, waved to him and said:

"Zhang Xiangbei, I finally see you. Come on, come and sit here."

He called Zhang Xiangbei to come over and sit in the empty seat on his left, while Liu Yun sat on his right.

Zhang Xiangbei walked over and shook hands with the senior and said, "Hello, senior. Nice to meet you."

The senior held Zhang Xiangbei's hand and kept shaking it, while turning to Zhang Chen and said:

"Let me tell you, Mr. Zhang, Zhang Xiangbei is not simple. When I go back to school now, people still remember him and say he is 'that Chinese boy who likes to grow vegetables.' They also ask me, you Chinese Do everyone really like growing vegetables? Now on the Yale campus, many Chinese parents who accompany me to study are also growing vegetables there.

"I was asked inexplicably, and I couldn't understand why Zhang Xiangbei liked growing vegetables so much, and gave people the impression that we Chinese all like growing vegetables. If I tell them that the Chinese boy is now in Now that China sells vegetables, they must be more curious about it. Mr. Zhang, have you ever grown vegetables before?"

"No." Zhang Chen shook his head and said, "Maybe it's inherited from one generation to the next."

Liu Yun and Xiaofang couldn't help but burst into laughter. They both thought of the two land reclamation warriors. How much they loved growing vegetables. Could it be that they really had a genetic trait? It’s also a generation apart.

Xiaofang and Zhang Xiangbei said that the senior is now a director of the Yale University Board of Trustees.

"Awesome!" Zhang Xiangbei said.

The senior smiled: "What directors are, they are just people who help them make money. It won't be long before your Aunt Xiaofang will also be a director of Yale."

Became a school director, someone who was qualified to sit on the podium at the annual student graduation ceremony.

What the senior and Xiaofang have in common is that when they returned to China to invest, their initial capital included US$30 million from the Yale Fund.

The senior pressed Zhang Xiangbei's shoulders and asked him to sit down next to him. He said to Xiaofang and the others:

"Zhang Xiangbei, on the other hand, is better than his predecessor. He will definitely become an outstanding alumni of Yale in the future, the kind who can enter the history of the school."

"You guys at Yale are too arrogant. Three of the five here are from Yale." Liu Yun teased.

Zhang Chen and Liu Yun said: "You are not bad either. You are from Peking University. Everyone here is an elite, but I am nothing."

Liu Yun looked at him and said seriously: "You can do it too, from Zhejiang Mei."

The senior suddenly realized and said "Oh": "It turns out that Mr. Zhang is from Zhejiang University of Technology, no wonder."

Xiaofang almost spit out the water. She punched Liu Yun, and Zhang Chen laughed.

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