I changed the world

"Sorry, Mr. Fei, you've been waiting for a long time." After An Huiling got out of the car, she greeted Mr. Fei with a smile and extended her hand.

"No trouble, no trouble. It's the first time for the eldest lady to come to the Innovation Institute. Everyone is looking forward to it." Fei Shiguang took advantage of the situation and stretched out his right hand to hold An Huiling's right hand, shook it twice and then let go.Then, taking advantage of the situation, he stood next to An Huiling, stepped back slightly, and began to introduce to her the senior executives of the Innovation Research Institute and corporate executives behind her.

At the same time as An Huiling got off the car, Mei'er also got off the car through another door, carrying An Huiling's bag while consciously following behind her.

"This is Dean Zeng. In the past few years, Dean Zeng has worked hard for the development of our Southeast Innovation Institute..." The first person Mr. Fei introduced to An Huiling was Zeng Qi, the dean of the Institute.

"Hello, Dean Zeng. I remember that Dean Zeng is a visiting scholar who returned to China from the Luenwell Institute, right? Dad once mentioned to me some of your insights into the industry. For example, on the research topic of intelligent networks in deep space colonies, I I have always looked forward to visiting and learning.”

When Zeng Qi heard this, the smile on her face became three points more enthusiastic. She also reached out to hold An Huiling's right hand and shook it twice: "The scientific research projects here at the Innovation Research Institute have been advancing. In a while, I will make a special appointment for the eldest lady." introduce."

Chapter 6 Southeast Innovation Research Institute

"Then I'll look forward to Dean Zeng's introduction." An Huiling smiled and nodded.

"This is the vice president of the Innovation Research Institute..." After that, Fei Shiguang and Zeng Qi introduced An Huiling to all the people present one by one.

It can be said that those present were basically senior executives of the Innovation Research Institute. In addition, there were some senior executives of internal incubation companies settled in the innovation incubator. Even if the number of people was repeatedly controlled, there were still more than 20 people.

What surprised and even surprised everyone was that An Huiling not only behaved very steadily and appropriately, but also when introducing each greeter, regardless of their position, An Huiling was able to accurately tell some of their resumes. There were more than twenty people, and no one made any mistakes.This, of course, also made everyone present to greet him feel quite honored, and their smiles became much more sincere.

In the eyes of caring people, their evaluation of the eldest lady has been sharply increased. It seems that the eldest lady is not the ordinary introverted college student who doesn't understand anything as rumored.Just for the way he treats others, he is no ordinary person...

What these people didn't know was that An Huiling didn't actually know much about it beforehand. She just browsed through the brief introduction about the reception staff that Mei'er had prepared in the car when she arrived.For her now, as her practice deepens, her memory has also been greatly strengthened. Although she has not yet reached the legendary level of photographic memory, it is not a big problem to remember the important parts.

This allows her to match some of her experiences when she hears their names when facing those people, and she can naturally tell them.

Of course, there are also some personal attempts by An Huiling.As she recovered from her illness, her life obviously underwent some huge changes.She began to come into contact with some family business and personnel affairs from time to time. Some of them were deliberately arranged by her father An Zhengquan, and some were people in the group who wanted to take the lead in betting.All in all, this also allowed her to gradually come into contact with things that were completely different from those in the ivory tower of her previous school.

How to contact these various people is what she has been trying to learn.

Of course, compared to cultivation, these things are not difficult to master. As the saying goes, it is easy to move from frugality to luxury. Learning how to become a superior person is always much easier than working hard at the bottom of society.

An Huiling also has a clear understanding of this. Perhaps it is because most of her previous life was tortured by diseases, and not long ago, she even faced a thrilling test of life and death. An Huiling always felt that in the face of In those scenes where ordinary people would be obsessed with vanity, she would always feel a sense of alienation subconsciously, as if telling her: "These wealth and splendor are just like a dream..."

Therefore, she understands how to do it and knows how to do it, but it is difficult for her to really indulge in it.

It's just that An Huiling didn't realize that she would make people around her feel calm, restrained, indifferent to emotions and anger, and capable of taking on big responsibilities.

You know, in many cases, what people are willing to follow is a strong man who can "get things done", rather than a good gentleman who only knows how to be good to you, me, and everyone.

After a brief exchange of greetings at the gate, An Huiling was surrounded by everyone and walked towards the gate.

Qianluo Southeast Innovation Research Institute integrates incubation, technology research and development, relying on the heritage of Linzhou's historical city and the talent pool of scientific research institutes. It is the largest innovation and research base of Qianluo Group in the southeast.

It covers an area of ​​more than 50 square meters. Currently, only a part of it has been developed, and a considerable area is still used as reserve land.

The main building of the Institute is a typical garden-style building designed by the famous designer Li Yiping. The overall building density is low, and the surrounding greenery is arranged in the style of traditional southeastern gardens, which is pleasing to the eye.

Southeast Innovation Research Institute The Innovation Research Institute is mainly divided into two parts, Qianluo Innovation Research Base and Qianluo Innovation Incubation Park. The former is mainly responsible for tackling and researching various software engineering, artificial intelligence, big data applications, software and hardware integration, and information processing. subject.As for the latter, there are many small and medium-sized companies invested by Qianluo.

Because the entire park of the Innovation Institute is very large, everyone transferred to the internal vehicles specially prepared by the park. Fei Shiguang and Zeng Qi accompanied the explanation. Along the way, An Huiling introduced the scenery along the way and the importance of the Institute today. Project Progress.

Qianluo Group is a giant consortium that started out as an online social networking company. After establishing a foothold in the main business of social networking, the group has been expanding into multiple fields.

In recent decades, the voice and investment in deep space exploration have become increasingly large. At the same time, in the past decade, countries have also begun to gradually relax controls on aerospace and aviation, allowing some private funds to be involved in aerospace and aviation. Relevant industrial and R&D investment.

Although Qianluo Group started on the Internet, as a large consortium, it is naturally impossible to miss this wave of opportunities. Even as a defensive investment, it must invest a certain proportion of its annual profits in research and development in this area.

As for the Southeast Innovation Research Institute, a considerable part of the topics covered are applied to starship systems and future deep space colonies.

An Huiling majored in business economics at university and did not have a deep understanding of the topics studied by the Institute of Innovation. As for the issues she did not understand, she really did what she said, focusing on studying and visiting. On many issues, read more and speak less, and listen to the professionals.

In fact, her attitude along the way made many people have a good impression of her. After all, many people were worried that if the eldest lady really gave advice casually, would she actually listen?Still don’t listen?

Fortunately, such a thing did not happen.

At noon, An Huiling and her group ate in the staff canteen of the Innovation Research Institute and took a look at the food in the staff canteen. In the afternoon, they will visit the Innovation Incubation Park.

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承和37年西历2016年3月31日11:33临州云漫茶餐厅

Yunman Tea Restaurant is a tea restaurant with a lighter taste, mainly serving Jian'an cuisine. It is not far from Zhang Jing's home. Zhang Jing has eaten here twice before and quite recognized its dishes and environment, so This meeting was arranged here.

When Zhang Jing walked into the tea restaurant, it was lunch time. There were already some people sitting in the spacious lobby of the restaurant. Under the guidance of the waiter, Zhang Jing was taken to a dining table by the window. A middle-aged man sitting next to him had already stood up.

"Hello, Mr. Sun, right? My surname is Zhang, my cousin is Hongjian. I am the chairman of the Historical Relics Protection Research Foundation. Nice to meet you." Zhang Jing smiled and extended his hand.

Chapter 6: Doubts about Acquisition

"Dr. Zhang, I'm glad to meet you. I am Sun Zhonghe. My name is Dezhong. It's enough for Director Zhang to call me Dezhong." The middle-aged man hurriedly stretched out his hands to shake Zhang Jing's hand, and then the two of them sat down again.

After questioning the two of them, the waiter moved a screen from the side and surrounded them to increase privacy.

The two of them ordered the food first. During this period, Zhang Jing was also observing the man in front of him. He was a tall man with a square face, gentle eyebrows and a straight nose. He looked to be in his 40s and well-dressed. Overall, he is a handsome middle-aged man.

"I heard from Zhixing, are you college classmates?" Zhang Jing picked up the teapot on the table and poured a cup for the other party.

"I'm a classmate of Southeast University of Finance and Economics, but Senior Brother Jiang was two years ahead of me. We were both members of the school's photography club at the time, and we got along pretty well. We kept in touch after graduation." Sun Zhonghe took the tea cup with both hands and nodded.

The two chatted a little more about Jiang Shanlin, and Zhang Jing introduced the "Historical Relics Protection Research Foundation" under his name.

After that, the two chatted about some food-related topics based on the recipes here. After a while, the dishes started to be served, and the two chatted while eating, and the topic gradually got to the point.

"...After graduation I went to the School of Political Science and Economics at King's University of Loon to study finance and financial analysis."

"After graduating with a master's degree, I got a position as a trainee at Redfield Investment Bank on the recommendation of my mentor. I worked there for two years and was later transferred to the Securities Investment Department as a financial industry analyst..."

Zhang Jing listened to Sun Zhonghe introduce his resume, and took a bite of food into his mouth from time to time. He had to say that the resume of the person in front of him abroad did match the persona of a "financial elite" in many people's impressions.

As a leader in the Western world, the financial industry of the United Kingdom of Rune is quite developed, and Redfield’s Financial Street is known as a barometer of the world economy. To a certain extent, the openness of the financial industry At this level, it is even better than the Zhao Empire.

Sun Zhonghe has worked hard in the financial street for ten years. In the past ten years, he has changed jobs once, from the securities investment department of Redfield Investment Bank to Henry Purley Investment Fund. Zhang Jing has heard of the name of this fund. This is a company that has been established in recent years. It is a private investment company that has developed quite well in recent years. It has launched several large-scale global market investment funds and its income is said to be quite stable.

"Dezhong, then why did you think about returning to China?" Zhang Jing was a little curious.

"My parents are here, so I won't travel far away." Sun Zhonghe sighed: "My father had a stroke in 06. I was the only son in the family, so I had to return from Luen to take care of my father. Later, my father's condition became more stable, and I got married. My wife is We met in the hospital. We were both locals from Linzhou. We had a child the following year, so I gave up the idea of ​​returning to Luen."

"Later, I went to work for Southeast Securities, a subsidiary of Southern Bank, as a private equity fund manager. I managed three private equity funds..."

While Sun Zhonghe introduced his resume, he also chatted with Zhang Jing about his views on the capital market and operating habits.Zhang Jing has also had a certain interest in finance and economics throughout his life. Although he cannot be said to be very professional, he cannot be said to know anything about it.

From what I heard, the investment style of the person in front of me should be considered a prudent one. In the words of Zhang Jing's previous life, this person is a believer in value investing. He is accustomed to entering at the trough of the industry cycle based on careful analysis of data. .Because he has rich experience in the industry and is an analyst, he has been quite stable and accurate in his previous operations.

But, how could such an investment style suffer such a big setback later?

While Zhang Jing listened, he added a piece of roasted suckling pig and put it into his mouth, and then suddenly said: "I heard from Zhixing that something happened to you later and you came out of Southeast Securities?"

After hearing this, Sun Zhonghe took a breath and smiled bitterly. He obviously had no intention of hiding it. After all, in his opinion, the matter at that time was too big to hide.

"You know about last year's deep space technology incident, right?"

"I've heard a little bit about it." Zhang Jing nodded. This incident was really a big deal last year. Therefore, although he has not been involved in stocks in this life, he was still impressed by it under the bombardment of various media.

In addition, before he came, he also heard some information from Jiang Shanlin. Of course, Jiang Shanlin's knowledge was not comprehensive, but it was still enough for him to do some homework in advance.

Sun Zhonghe nodded when he heard the words and directly described the matter briefly.

In early February last year, Deep Space Technology, whose main business is a starship subsystem software provider, was listed on the Songjiang Stock Exchange. Because it belongs to the deep space concept that is currently widely sought after, it hit the daily limit when it was listed. It fell into trouble after many new stocks opened their daily limit. The path of continuous decline is different. After 2 consecutive daily limits, the stock price of Deep Space Technology rose by 7%.

In the following month, the stock price trend of Deep Space Technology was also very stable, basically maintaining the range of 48 to 55 yuan.

However, these peaceful days did not last long. In early April, Deep Space Technology suddenly suspended trading on the grounds of "planning major events" and then moved into a major asset restructuring.

In May, Deep Space Technology announced a restructuring plan with another aerospace communications device supplier, Wei Xian Optoelectronics.When the formal transaction details were finally announced to the public, public opinion was full of doubts.

The reason is simple. This is an equity acquisition disguised as a cash acquisition.

Generally speaking, there are two types of acquisitions of listed companies: cash acquisitions and equity acquisitions.The main difference is that a cash acquisition does not dilute the interests of existing shareholders, while a share acquisition does.

Because there have been some scams before, causing relatively bad social impact, regulatory agencies in Zhaoguo and most other countries in the world now require strict review of asset-based restructuring plans through the issuance of shares. However, accordingly, if a listed company Mergers and acquisitions that use 100% cash payment do not require regulatory review.

The reason is also very simple. To put it simply, shares are very fictitious, but cash is very real. Being able to make cash acquisitions proves that you are more powerful and more reliable.

Therefore, in order to avoid the increasingly tightening supervision, improve the success rate of acquisitions, and speed up asset acquisitions, Deep Space Technology chose a 100% cash acquisition method.

However, Deep Space Technology needs nearly 180 billion in funds for this acquisition, and its own company's total assets are only 16 billion. Even if all the funds on the account are used for the acquisition, it is a properly highly leveraged acquisition.

What should I do if I don’t have enough cash?Borrow it!

The specific situation is that the funds for the acquisition of Deep Space Technology came from 15-year long-term loans provided by the top four shareholders, totaling approximately 158.6 billion yuan. In addition, another 20 billion came from 3-year short-term loans provided by the top three shareholders. .

As a result, in this transaction, Deep Space Technology actually did not spend a penny, and all the funds required for the acquisition came from shareholders.And after the money went around in a circle, it returned to the hands of the four major shareholders of Deep Space Technology.

After the announcement of this nearly empty-handed acquisition plan, it aroused widespread public doubts. Afterwards, it received an inquiry letter from the exchange. In the end, the acquisition ended in failure.

After the resumption of trading, as expected, the stocks of Deep Space Technology continued to fall by the limit, which caused heavy losses to investors holding Deep Space Technology.

What is most dramatic is that Deep Space Technology later broke out the incident of internal strife among shareholders. Generally speaking, the second shareholder joined forces with the third shareholder to kick out the major shareholder. Later, the major shareholder was angry and broke out the dispute between the second shareholder and the third shareholder. As a result, this self-destructive infighting within the company directly revealed some secrets of Deep Space Technology that cannot be disclosed to outsiders, and also involved the "Fake Account Incident" in which the company's long-term business data was falsified...

In short, because this matter was too bizarre, dramatic, and full of twists and turns, it was hyped up by various media at the time. As a result, the stock price of Deep Space Technology continued to fall, and now it has fallen to less than one-tenth of the listing price.

The tragedy is that in this case, the stock turnover rate of Deep Space Technology has been lower than 0.1% for a long time, which shows that there is no money willing to enter the market to take over at the bottom.

This undoubtedly gives some big funds holding deep space technology no chance to pull themselves out of this quagmire.

Among them, two private equity funds under Southeast Securities almost lost their pants because of their heavy holdings in deep space technology.

Among these two funds, there was a private equity fund called "Southeast Strong Selection". The fund manager at the time was Sun Zhonghe. Because of its heavy position in deep space technology, its losses were nearly halved.

"The company needs an explanation to investors, so I have resigned from the company. I just completed the resignation procedures last month and announced it to the public that it was personal reasons." Sun Zhonghe's face was full of loneliness.

"I heard that you had different opinions on the investment direction?" Zhang Jing asked.

"I have worked as an analyst, so I am very sensitive to some financial data. Although this stock was once hotly speculated, after reading its financial analysis, I felt that there was a lot of water in it, and there were even problems with some of the data, but... …”

Sun Zhonghe hesitated for a long time, and finally sighed: "I signed the agreement. There are some things that I cannot say, but one thing should be known from public channels. Shao Haixin, the investment director of Southeast Securities, is under investigation by the regulatory authorities..."

The Shao Haixin mentioned by Sun Zhonghe was his immediate boss at Southeast Securities.

If it were anyone else, they might be skeptical of Sun Zhonghe's words, but for Zhang Jing, to confirm the authenticity of an incident of this level, a simple calculation would suffice.He quickly confirmed that Sun Zhonghe was not lying.

As for the specific details, he didn't actually need to understand them clearly. Most of them were insider trading and profit transfer. No matter in the past life or this life, such things were always inevitable in the capital market.

PS: I have been reading a lot of information about Western religions recently and I can’t help myself...@-@

Chapter 6 The Big Short

Because of this understanding, Sun Zhonghe's expressions that may seem a bit "hidden" in the eyes of others, in Zhang Jing's view, are exactly a reflection of his kindheartedness and tight-spoken tone.If Sun Zhonghe casually revealed the inside story of his superior's family, then Zhang Jing would feel hesitant. After all, he did not want some of his financial information to be revealed in the same way in the future.

Therefore, Zhang Jing did not continue to ask about this matter, but changed the subject: "So, what are the current plans of Dezhong?"

Sun Zhonghe smiled bitterly and shook his head: "I'm not going to hide it from you, if something like this happens, I won't be able to change my family in a short time. Fortunately, I have made some money in these years, and I am going to give myself a break. During the day off, I can also spend some time with my children.”

"Haha, I have a new choice here. You might as well listen to Dezhong." Zhang Jing said with a smile. He naturally knew that the so-called accompanying the child was just Sun Zhonghe's helpless move at this stage and should not be taken seriously. Otherwise, There was no need for him to keep his appointment.

"Director Zhang, please tell me, I'm all ears." Sun Zhonghe knew that business was coming, and subconsciously sat up straight.

"That's right. I want to set up a private investment fund. This investment fund will not raise funds from outside, so it does not need to be disclosed to public investors. It will only handle my personal finances and be directly responsible to me."

Sun Zhonghe was not surprised when he heard this. In fact, before he went to the appointment, he roughly knew some of Zhang Jing's purpose from his good friend Jiang Shanlin. The kind of private investment fund proposed by Zhang Jing is relatively common in this world. After all, There are a large number of royal families, aristocrats, and chaebols with a long history in various countries in this world. The private wealth and family wealth they need to manage are also astronomical. Many royal families, aristocrats, and chaebol families have their own family investment funds. It is used to keep the secret of family wealth and steadily increase the value of family wealth.

At this time, Sun Zhonghe no longer mentioned the words "give yourself a holiday", but asked directly: "Director Zhang, of course there is no problem if you want to set up an investment fund, but you have more specific requirements. ?"

Zhang Jing nodded, but did not speak directly. Instead, he took out a document and pushed it over, smiling: "Some of the information that follows involves some things that need to be kept confidential, so I hope you will take a look at this confidentiality agreement in Dezhong. "

Zhang Jing naturally knows that the so-called confidentiality agreement guards against gentlemen but not villains, but he is guarding against gentlemen. To a certain extent, this kind of agreement just gives people a hint, "Don't talk nonsense about the following things. "Keep the secret", the so-called drum does not require a heavy hammer, for people like Sun Zhonghe, this is enough.

Sun Zhonghe was not surprised. He took the document and read it briefly. It was a simple confidentiality agreement with nothing superfluous. In his previous career, he had signed many such things. This is business. Everyone acted according to the rules and there was no feeling of being offended, so he happily signed it.

Zhang Jing took back the confidentiality agreement, nodded and continued: "The main investment direction of the investment fund is stocks, futures, bonds, foreign exchange and other products in the secondary market. The investment direction is not limited to domestic and foreign countries."

"I will initially invest 3 million yuan in this investment fund. In the future, new funds will be injected gradually depending on the situation. I will not intervene in specific investment projects, which are all the responsibility of the fund manager. In addition, 10% of the investment income will be used as a bonus pool. Commission from fund staff.”

Sun Zhonghe nodded when he heard this. Zhang Jing's income sharing ratio should be considered relatively generous in the industry. Although it is still incomparable to those funds with super high returns that are industry stars, as a private individual For investment funds, this ratio is quite impressive. After all, all private and family-owned investment funds in the world are generally known for their stability, and share incentives are also conservative.Especially, with Sun Zhonghe's current state of being slandered all over his body, it is extremely difficult to find a good place to go.

And if he returns to a certain company and starts from the bottom, he will be unwilling to do so, which is why he said before that he would "give himself a holiday."

For a fund manager like Sun Zhonghe with a professional stain, such an opportunity is indeed rare. The figure of 3 million yuan can only be regarded as a small shrimp in the public fund industry. However, in family private equity, although it is still not a big , but it is not too small, especially Zhang Jing said that this is only an initial investment.

He can also understand, after all, he still has stains on his body, and the fact that the other party can directly offer 3 million yuan without being familiar with it is already a great trust.

For him, this is also an excellent comeback opportunity to prove himself.

After taking a look at Sun Zhonghe's expression, Zhang Jing continued: "I hope you can come over and help me manage this fund. I will not interfere with your daily management affairs. There is just one thing. I have some ideas about the short- and medium-term investment direction." Require………………"

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