Chapter 925: China’s Internet is saved!
The first China Internet Conference, which lasted for three days, came to an end in harmony. The conference was attended by government and institutional representatives from the United States and Asian countries, as well as many domestic Internet entrepreneurs and experts and scholars. Everyone was extremely satisfied with the process and gains of this conference.
At the closing ceremony, everyone couldn't help but miss the various experiences and exchanges in the past three days, and looked forward to the next conference.
But before everyone could leave the venue with such feelings of nostalgia and anticipation, they were shattered by Lin Weimin's deafening voice at the closing ceremony, leaving these people with only shock and disbelief in their hearts.
Even some well-informed representatives of foreign investment institutions were dumbfounded when they heard the numbers from Lin Weimin.
This is 500 million US dollars. Are Chinese companies so rich now?
The huge venue was engulfed in a huge wave of noise. Although no one was making loud noises, the hundreds of people in the venue discussing together created a powerful sound field.
It's not that the people present here have never seen the world. After all, these people are all leaders in the domestic Internet industry. A considerable number of their companies have received venture capital, and some of their companies have even received venture capital from well-known foreign investment institutions, with the scale ranging from millions of RMB to tens of millions of dollars.
But……
500 million meters is still an unattainable number for everyone.
Not to mention these entrepreneurs, even among the financiers, few have funding scale that can reach 500 million US dollars.
Guowen Group plans to invest 500 million US dollars in the Internet field. Many people present immediately thought of Sohu and cast their eyes on Zhang Chaoyang sitting in the first two rows.
As we all know, Guowen Group is one of Sohu's early investors and the third largest shareholder of Sohu.
It is rumored that since the ban on Sohu shares was lifted at the end of last year, Guowen Group has been reducing its holdings of Sohu shares. There was once a rumor in the industry that Guowen Group cashed out 2.2 billion yuan, but now it seems that this figure is still conservative.
Some people have silently calculated based on the ups and downs of Sohu's stock price in recent months that with 500 million US dollars of funds, at least 10% of the shares must be sold to make it possible.
Guowen Group only holds 16.25% of Sohu's shares, which means that in this reduction, they have sold most of their shares.
When we think about the ups and downs of the Nasdaq Composite Index, we can basically conclude that Guowen Group has almost reached its highest point.
Invest in Sohu, Sohu goes public, cash out shares, repatriate funds, and invest domestically.
After the initial shock, the smart people present started to calculate and guessed the operation behind the Guowen Group.
This time, Guowen Group won the game!
The thunderous applause echoed in the conference hall and lasted for a long time.
Everyone is amazed at the gains made by Guowen Group in Sohu and Migu. In fact, the Nasdaq is currently at a low point, so bottom fishing is also a good choice.
But the fact that Guowen Group can invest money in China proves that it is still optimistic about these domestic Internet companies. Everyone benefits from it. In addition to being happy and excited, they can't help but look up to Lin Weimin on the stage.
Teacher Lin has brought blessings to all living beings and his merits are immeasurable!
"Haha, it seems that everyone welcomes this move by our Guowen Group!"
After the applause in the conference hall died down, Lin Weimin finally spoke again. A laugh broke out in the conference hall, which reflected the expectations of everyone present for this huge investment.
"This investment is worth more than 4 billion RMB, which is huge and may last for a long time. Let me first tell you about the approximate use of this money."
When Lin Weimin said this, many guests present immediately stretched their necks and looked intently. This might very well be related to their vital interests, so they had to listen carefully.
"The 500 million US dollars of funds will be roughly divided into two parts. 300 million US dollars will become a special investment fund to invest in emerging Internet companies with potential in China; in addition, our Guowen Group will cooperate with the Yanjing Municipal Government to establish the first Internet enterprise incubation base in China, and the remaining 200 million US dollars will be used here."
The direct investment was reduced from 500 million US dollars to 300 million US dollars, and everyone was a little disappointed.
But at the same time, they became curious about what this "Internet enterprise incubation base" was used for.
“Everyone must be very curious, why did they have to take out 200 million of the 500 million yuan to do incubation?
Speaking of this issue, I have to thank the Yanjing Municipal Government.
Why do I say so?
Everyone should understand that the Internet industry is an industry that relatively requires high-level talents and supporting hardware facilities.
As the capital of China, Yenching University has dozens of top domestic universities. Whether in terms of the number and quality of talents or the hardware supporting facilities required by the Internet industry, it is the best in the country.
It can be said that Yanjing is the most suitable city in China for starting an Internet company, no doubt about it.
But at the same time, as the capital, Yanjing's shortcomings are also obvious. The cost of starting a business here must be the highest compared to other cities.
When I discussed this issue with the leaders of Yanjing City, I received high recognition from the city leaders, who expressed their determination to fully support domestic companies and talents that are interested in high-tech entrepreneurship.
To this end, our Guowen Group and the Yanjing Municipal Government have reached a cooperation, with one party providing money and manpower, and the other party providing land and policies. In the next three years, we will build two Internet industry incubation bases in Yanjing City, one for reconstruction and the other for new construction.
These two Internet business incubation bases focus on the present and the future and will provide assistance to domestic startups that are struggling with funding, personnel and technology. After the incubation bases are established, we will accept applications from all Internet startups nationwide, including Hong Kong, Taiwan and Macau. If these startups meet the requirements, they can enter the bases.
Here, you will get policy support such as half rent reduction, free water and electricity, and three years of tax exemption. For the company's senior talents, the Yanjing Municipal Government will give preferential policies for talent settlement. At the same time, the Yanjing Municipal Government will also send personnel to the base to provide support for the development of the enterprise and help you actively connect with the government.
In a nutshell, our incubation base will be concerned about the needs of enterprises, think about what they want, and serve you with all our strength. What you need to do is to go all out for development and make your own contribution to China's economic take-off.
I also hope that China can soon give birth to Internet companies with global influence like Microsoft and Yahoo. "
Having said that, Lin Weimin took a deep breath and looked at the audience with eyes full of anticipation.
“Don’t be obsessed with the thorns under your feet and the petty gains in front of you. Our journey will be to the stars and the sea.
I hope you will all remember this!"
“Crash!”
There was thunderous applause from the audience again.
If before, everyone was still excited about the 500 million US dollars investment, now everyone was moved by the sincere wishes and expectations in Lin Weimin's words, and they couldn't help but feel a sense of pride in their hearts.
The applause from the audience lasted for a long time. Lin Weimin stood on the stage with an upright posture and an imposing manner, which became the most unforgettable memory and image of the first China Internet Conference.
The speech ended and the closing ceremony also ended.
The first China Internet Conference came to a successful conclusion. Various news releases covered domestic media at all levels. Lin Weimin’s speech and Guowen Group’s investment decision also spread across the country with these reports.
In a blink of an eye, it caused a heated discussion across the country, especially for the Internet industry. The investment policies launched by Guowen Group and Yanjing Municipal Government during this Internet conference can be regarded as good news for the Internet industry.
There were hundreds of Internet companies that came to Yanjing to participate in the conference. Logically, after the conference was over, the representatives of these companies should have left Beijing as soon as possible, but because of Lin Weimin's speech at the closing ceremony, these people stopped in their tracks.
Rent reduced by half, water and electricity free of charge, three years of tax exemption, settlement of talents...
Anyone who has done business knows how great a preferential policy this is, and this is the treatment foreign investors can get.
Before the Internet Conference, the impression that Guowen Group left on domestic Internet companies was that it had a great vision and focused on investing in the Internet sector.
Now that the meeting is over, Guowen Group is the savior of the domestic Internet industry!
Especially as the Nasdaq in the United States is now in a slump, the Americans who were originally stupid and rich are gone. Unexpectedly, the Guowen Group quickly filled the position and brought everyone a big surprise.
This Internet conference is really not in vain!
Not only Guowen Group, but also Lin Weimin has now become a "farsighted talent scout" in the eyes of domestic Internet entrepreneurs.
There are many good horses, but there are few good horse trainers.
Now that the domestic Internet industry has Lin Weimin as its mentor, how many talented horses will be born?
This suspense had just arisen in everyone's mind, and before we had time to discuss it in detail, a preliminary conclusion had already been reached.
10 companies!
At the closing ceremony of the Internet Conference, Lin Weimin announced that Guowen Group had established an investment fund, which had restrained many companies from leaving Beijing.
Faced with the inhumanely wealthy Guowen Group, this group of companies swarmed in, wishing to suck Guowen Group clean.
In just one week, Guowen Group reached investment intentions with 10 Internet companies including Alibaba, Tencent, Ctrip.com, and Dangdang.com. These 10 venture investments ranged from 15 million US dollars to 2 million US dollars, totaling 54 million US dollars.
In the future, we only need to wait for a few months until Guowen Group completes due diligence on these proposed investment companies, and then we can complete the investment.
54 million meters of sword!
This number is nothing for the US Internet industry, but it is an unprecedented number for the Chinese Internet industry.
Before Guowen Group, no Chinese company or investment institution had made such a huge investment in the domestic Internet industry.
In the past, everyone could only watch as wealthy American financiers waved their money around to look for potential stars in the industry, and colleagues would flatter and curry favor with them in order to get investment. Now, the Chinese also have their own financiers.
It took only seven days from the time Lin Weimin announced the establishment of a 500 million US dollar investment fund at the closing ceremony of the Internet Conference to the time Guowen Group reached the first batch of investment intentions with many companies.
This not only represents the vigorous execution of Guowen Group, but also represents their optimism about the domestic Internet.
The Internet has been booming in the United States since the 1990s, and the domestic wave has only been rising for two years. It is a golden period for rapid development, but the Nasdaq tragedy on the other side of the ocean has dealt a heavy blow to domestic companies.
Although the chilling effect has not yet spread to China, no one can guarantee that this wave will have no impact on China's Internet industry.
There are even many knowledgeable people who pessimistically believe that China's Internet will soon follow in the footsteps of the United States and fall into depression.
Now, Guowen Group is here.
China’s Internet is saved!
(End of this chapter)
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