Chapter 190 Aren’t you guys in the same group after all this time?
At the house rented by Jiang Banxia, Li Yang stretched out his hands and made a handshake gesture.
"Master Jiang, look, my hand has become your shape."
Jiang Banxia buried his head in the pillow and said nothing.
God knows how such shameful words could be said so openly from Li Yang's mouth.
"Master Li, the capital scale of Wanliu Capital has now reached 10 billion."
Li Yang's hand movements suddenly stopped.
It’s only been two days, and it’s already 10 billion?
Jiang Banxia added: "But 4 billion is my own capital."
This is somewhat understandable. After all, Jiang Banxia is already popular, and Li Yang has created a lot of topics recently, building up her image as a top wealthy woman.
Starting with a scale of 6 billion is indeed a great start, but the subsequent growth depends entirely on Jiang Banxia's strength.
If she doesn't make money, someone might redeem it even at the high cost of fees.
However, for public funds, they will definitely make a profit as they can guarantee a stable income regardless of drought or flood.
However, if we fail to gain fame this time, it will be difficult to expand the scale in the future.
There is only this one chance. If the effect of a persona fails once, no one will believe it anymore.
"Congratulations to Master Jiang for becoming the youngest female fund manager worth 10 billion yuan in China!"
Generally, this kind of statistics does not include private equity.
Jiang Banxia said: "There are a lot of prefixes."
"Haha, there are already quite a few fund managers with tens of billions of dollars. If you want to remove the prefix, you can only aim for hundreds of billions."
There are also many female fund managers in China, and two of them manage funds worth tens of billions of yuan.
But the scale is only tens of billions, and there is not a single one over fifty billion.
And it’s not the kind of management of a single fund, but the scale of multiple funds combined.
Jiang Banxia squinted her eyes, like a flower about to bloom.
In fact, the market conditions have been very bad recently. Not only has the trading volume been sluggish, but the last time thousands of stocks hit the daily limit was only two weeks ago, and the shadow of the stock market crash has been lingering over the entire market.
There are a lot of rumors on the Internet saying that the national team has stepped in to rescue the market, but no matter how they market it, few investors are willing to join in.
It is actually not a good timing for Jiang Banxia to enter the game now.
But this is the time when your skills are tested.
After a night's rest, Jiang Banxia started his new day at work.
After arriving at the company, the first thing I did was to confirm the subscription shares and determine the funds to be operated today. Then I communicated with the trader about some details and the targets to be traded today.
I am still a little nervous today. After all, it is quite tiring to build a position from scratch.
Her strategy is to follow the minimum position of public funds. Public funds cannot have short positions exceeding 35%. She plans to hold a position of around 70% to adapt to the rhythm of public funds first.
She used to work in high-frequency trading, which is not very compatible with public offerings.
Regarding QDII funds, she invited other fund managers to give her ideas in advance.
It is impossible for her to stay up late at the company, as the main battlefield is still the A-shares. After all, the total size of QDII funds is only US$200 million.
At the end of the first day, the fund's net value fell slightly by 0.04%
At the end of the second day, the fund's net value fell slightly by 0.03% again.
A lot of voices have begun to appear on the Internet. After all, Jiang Banxia has enjoyed the benefits of fame, and he must bear the backlash of fame.
The market conditions have been very bad in the past two days. Jiang Banxia has been able to stabilize the market, which has already exceeded 95% of the funds on the market. However, netizens and investors are still not satisfied.
They are here to make money, but you, Jiang Banxia, should have the ability to turn decay into magic.
On the third day, the fund's net value fell slightly by 0.08% again, and Jiang Banxia finally couldn't bear it anymore!
She doesn't want to play the public fundraising game anymore.
So, on the fourth day, she started high-frequency trading, and the first stock she entered was Oriental Communications, a hot stock in the second half of the year.
Before Jiang Banxia entered the market, the stock had doubled and was in the adjustment phase with a daily turnover of more than 30%.
A small company with a market value of more than a billion was hyped up to nearly 4 billion.
After today's opening, Oriental Communication opened five or six points lower. Chips were continuously being sold out in the market, and Jiang Banxia took over.
However, the more shares were taken over, the more chips were thrown out, and the stock price has not been able to go up.
Jiang Banxia started reviewing the situation yesterday and was mentally prepared for this situation.
The so-called monster stocks depend on funds. Today, funds are not very willing to manipulate the market, which is also a good opportunity for her.
She can definitely fill up her positions. With the fund's market value of 4 billion, she can mobilize nearly 200 million.
At present, only 20 million have entered the market.
As time went on, she slowly collected nearly 50 million chips.
At this time, she started her own operation.
First, he mobilized 30 million yuan of funds to directly buy upwards, and the price increased by five points in a short period of time.
But it was soon smashed down.
She then continued to use 30 million yuan to buy stocks upwards, this time increasing the price by six points.
But it was still smashed down.
The third time, she directly placed an order for 180 million yuan at the bottom.
This number is very subtle.
The previous two purchases totaled 60 million, and a lot of funds were seen. Now another 180 million is listed, which shows clearly that they are not from the same family.
After all, with a holding of 260 million, he had to raise his hand.
Put a sign on this kind of monster stock?
The people inside didn’t care much about the large amount of funds that had entered the market before, because with only one company coming, they couldn’t pull it up, so they might as well take the opportunity to cash out.
But now, with two families coming, the sedan chair can continue to be carried.
Jiang Banxia was betting that those people wouldn't dare to lower the price she was willing to pay.
After she put up a price of 180 million, the frequency of selling chips began to decrease, while she continued to take chips at the upper end, always maintaining a position of six or seven points underwater.
After taking in another 20 million, she calculated her holdings and found that she still had more than 50 million left before she could raise her stakes. Without hesitation, she bet all in 50 million and the market went up by nine points.
From six points underwater to three points above water.
Under this situation, many retail investors who had been waiting and watching rushed in, and the previous market makers knew that the momentum could no longer be stopped, so they immediately switched from shorts to longs and bought together to prevent too many chips from falling into the hands of retail investors.
The closing of the board is a natural outcome. Although the funds for closing the board are not much, it looks like the board may be opened at any time.
But the stock didn't open until the closing.
On that day, the net value of the Wanliu Mixed Select Fund increased by 1.23%.
Li Yang is not clear about the fund's holdings, but he pays attention to the fund's net value every day.
When he saw that the net value of the fund had increased so much, he knew that Jiang Banxia couldn't help it.
There is nothing good or bad about it. If Jiang Banxia likes this model, he can do it.
No matter whether it is suitable for public offering or whether it is suitable for tens of billions or even hundreds of billions of funds, as long as it can make money, it is a good trading model.
On the fifth day, the net value of the Wanliu Mixed Select Fund once again rose by 1.08%
In the current market, Jiang Banxia makes hundreds of millions of profits from the market every day, which is already a terrifying number.
On Saturday, Li Yang came to David's rented office as agreed.
The current ofo has only one office, which is only over 20 square meters in total, which is enough to prove how short of funds they are.
But it did not affect David's determination to make money.
A small office is already packed with people, all of whom are interested in the shared bicycle industry.
This is also David's confidence.
After Li Yang arrived, he enthusiastically invited Li Yang to come and sit down. When Li Yang saw this scene, he knew that there would definitely be work today.
Generally speaking, financing is done by comparing prices privately from three different parties, and the agreement is signed with the one who offers the highest price. There is no such thing as bringing all investors together.
But David did it.
After he sat down, he didn't say hello to the people around him because everyone was a competitor today.
David stood nearby and took out a writing board.
Seven or eight people brought small stools and sat beside him, surrounding him.
David bowed to the people around him and said, "Thank you very much for coming here despite your busy schedule. The company is currently in a stage of rapid expansion, so the funds for office use are limited. Please forgive me for the poor hospitality here."
When it comes to something that requires real money, no one is interested in polite words.
David quickly got to the point, took out his writing board, and said, "Everyone, please allow me to introduce the ofo bike to you first. We originated from Peking University and currently cover the entire city of Beijing, with more than 600,000 registered users..."
He talked about the business philosophy of a small company with a valuation of only tens of millions for more than half an hour. According to his description, the company is committed to greatness and is disruptive and pioneering.
It was not until the end that the key point was discussed, which is the current equity division of the company.
In the angel round, ofo took out 20% of the shares and received 1.6 million in financing, which meant that the entire ofo market valuation was 8 million at that time.
However, ofo's valuation is around 30 million now, and David is preparing to raise 30% of the funds.
It is similar to the case with a certain fish. Once someone takes 30% of the shares, the 20% held by the angel round will become 14% of the shares, and David's original 80% of the shares will become 56%.
Theoretically, only nine million is needed to acquire 30% of ofo's shares, which is very cost-effective, at least in this round.
It’s just that David called so many people over and never thought of taking only 9 million.
After David finished speaking, Li Yang said, "Senior, I am personally prepared to pay 15 million."
He immediately raised the valuation to 50 million.
Everyone around you is confused. How can others play if you do this?
Although the valuation of 50 million is within a reasonable range, it has obviously reached the reasonable limit and leaves no room for others.
Even if the valuation is also 50 million, it seems like forcing the issue.
As soon as Li Yang finished speaking, someone next to him said, "Boss Dai, our Yuancheng Capital can come up with 18 million."
At this point, it is no different from going to a vegetable market. After all, this is the effect David wants.
Li Yang even suspected that this so-called Yuancheng Capital was a group of water army hired by David.
Damn, with a valuation of 60 million, you can’t even make ends meet?
This is just the A-round. There will be A-round and A+ round later. If 60 million is given now, does the A-round have to be valued at 500 million? Does the A+ round have to be valued at 3 billion?
Someone else said, “Mr. Dai, we at Shunwei Capital can provide assistance to the best of our ability. You are also aware of Shunwei Capital’s investment situation over the years and the resources we have at our disposal.”
Li Yang glanced at the representative of Shunwei Capital, because this company belongs to Mr. Lei.
Dami Technology is a company that Mr. Lei holds shares in under the name of Shunwei Capital.
Mr. Lei basically invests in some companies that started in Beijing, some more, some less.
Shunwei Capital said that since they have the resources, it will definitely not be bad.
The resources they have are definitely not comparable to a mere few million. Li Yang clearly saw that David paid more attention to Shunwei Capital.
At this time, Li Yang said directly: "Senior, I can take out 21 million."
David said: "Junior, everyone here knows your fame. I am also very grateful that you can give such a high valuation to ofo. If you are willing to help promote it, I believe there is no one here who has a greater advantage than you."
Li Yang smiled and said, "Senior, I just have some spare money. I really can't do anything about publicity."
Li Yang can take advantage of ofo's profit points, but he will not actively promote this scam.
If many people paid a deposit because of his publicity and it cannot be refunded later, it will be his responsibility.
He would rather not invest than help with promotion.
David was very surprised. Wasn't it just a piece of cake?
He thought for a moment and said to the people around him: "To be honest, what ofo lacks most at the moment is funds. Other resources are not available for the time being, except for publicity and promotion. So in theory, the highest bidder wins today."
Li Yang has already offered such a high price, and David originally wanted to cooperate with Li Yang, so there is no reason for him not to stand on Li Yang's side.
Of course, it would be a good thing if Shunwei Capital invested more money.
However, after he finished speaking, several companies immediately stood up, especially Shunwei Capital, and said, "Mr. Dai, it seems that there is no chance today. I hope that we can have the opportunity to cooperate with Shunwei Capital next time."
To put it bluntly, ofo is currently a very small project. With Shunwei Capital having a scale of tens of billions, there is no need to start at this time.
After all, who can guarantee that this model can proceed smoothly?
The next round of financing means that this model has been further verified. Although the cost is higher, the risk will also be several times smaller.
Several other companies also said they wanted to leave.
When there were only three people left in the office, Li Yang stood up and said, "Senior, let's have a pleasant cooperation?"
The price of twenty-one million is indeed a bit high, but it doesn’t matter to Li Yang.
David held out his hand for a handshake.
But at this moment, Cen Yezhen stood up and said, "Boss Dai, we at Yuancheng Capital are willing to pay 24 million!"
Li Yang: “…”
David: “…”
Both of them were confused.
The reason why David was confused was that he did not expect that Yuancheng Capital, a little-known company, would be so generous.
However, Li Yang discovered that Yuancheng Capital was not in the same group as David?
Depend on!
If Yuancheng Capital and David are in cahoots, raising the price once would be the limit, and it is impossible for them to raise the price again and again.
Especially now, he was the only one left in the entire office, and David no longer had the qualifications to raise the price. If he continued to raise the price, he would only lose money.
Suddenly, a little-known company called Yuancheng Capital appeared and offered a price so recklessly. What was they trying to achieve?
Given an estimated value of 80 million, David would wake up laughing in his dreams at night.
But for Yuancheng Capital, this money is no different from being thrown away, because their shares will still be diluted in the next round, and the cost of maintaining the share ratio will be greater.
Wouldn’t it be nice to keep the funds for one more round?
This Yuancheng Capital is unprofessional!
Shunwei Capital would rather provide other resources than raise prices, and this is its purpose.
As for Li Yang, he wanted to reap as much benefit as possible from the previous round of financing purely because he understood the future.
Each round of financing represents the success of each stage.
Just like the angel round, the guys who spent 1.6 million, even if the equity will be diluted to 14% this time, it is still worth 5 or 6 million according to the market valuation, which is equivalent to doubling the investment in a few months.
If the valuation was 80 million given by Yuancheng Capital, the profit would be five or six times more.
There was no way Li Yang could raise the price any further.
Even though David did not reply to Yuancheng Capital, he looked at him.
He added that even if he knew he could make money, others would still think he was a fool.
He smiled and said to David: "Congratulations, senior. At this price, I can no longer compete. I look forward to the opportunity to cooperate with you in the next round."
The dust settled and Li Yang stopped adding money.
David said a few polite words and sent Li Yang away.
As for what the two sides talked about later, Li Yang was too lazy to know.
In the evening, when giving Jiang Banxia a massage, Jiang Banxia asked, "Master Li, have you finished your work today?"
"It's done."
"Then should I congratulate Master Li?"
"Bullshit, I got cut off by someone who raised the price desperately. In the end, I was too lazy to increase the price."
"Hmm? Since Master Li thinks there is an investment opportunity, even if the price is a bit high, you can definitely make money, so why don't you want it?"
"What if that guy is David's agent? I'm looking like a fool if I keep raising the price. If they are willing to raise the price, I'll just give it to them."
Jiang Banxia thought for a while and said, "Actually, I think the sharing model is really good."
Li Yang smiled and said, "Indeed, the sharing model can provide convenience to many people, and there are many resource points that can be developed in the future. However, the real power may not necessarily be shared bicycles."
Li Yang knew very well that shared bikes did not have enough profit margins, otherwise David would not have run away.
Even with billions in deposits, it would not be enough to cover the cost of deploying bicycles across the country.
The most important thing is that the utilization rate of shared bicycles is very low and the losses are very large.
What really developed later were shared electric bicycles and shared cars.
The most profitable one is the shared power bank!
That thing always makes money!
It costs two yuan per hour, and the maximum charge is thirty yuan. It doesn’t matter if you don’t return it after twenty-four hours, I will sell you the power bank.
Jiang Banxia looked at Li Yang curiously and asked, "Master Li, are you talking about sharing girlfriends? Everyone knows that industry makes money, but it is illegal!"
(End of this chapter)
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