Chapter 193 Hunters often appear as prey
How comfortable is it to be with Li Yang?
Jiang Banxia spent several million in the live broadcast room, bringing nearly 8 billion in subscription funds to Wanliu Capital.
If you promote on other financial platforms and want 8 billion in subscription funds, you will need at least 200 million!
Higher than the management fee income.
Wanliu Capital's management fee is only 1.75% per year, which is considered medium level in the industry.
She wanted to continue, but was stopped by Li Yang.
"The current fund scale is already very large, and the market risks will still be considerable, especially next year, the A-share index circuit breaker mechanism will be implemented. The most important point is that in January 2016, the A-share market will release more than 100 billion shares..."
After Li Yang said this, Jiang Banxia understood instantly.
She didn't need to doubt Li Yang's judgment of the market, because in her eyes, Li Yang's trading of individual stocks might not be so detailed, but he had never made a mistake in controlling the overall situation.
A-shares are different from other financial markets. A-shares focus on the stubborn type.
The more you want to do something, the less likely you are to succeed.
Looking at the Western systems introduced into the A-share market over the years, most of them died miserably.
From the initial T+0 to the current T+1, it is a history of blood and tears.
Jiang Banxia had not thought about these things before because she was only focusing on the board.
"Master Li, you should have told me earlier, so that I could wait for a while before absorbing funds."
Li Yang smiled and said: "With your ability, even if there is a short-term loss, in the medium and long term, you will definitely not let the investors lose money."
Jiang Banxia doesn't want to have any regrets, so I definitely don't want Jiang Banxia to have any regrets either.
Next month, there will be two times when thousands of stocks will hit the daily limit, which will be a huge test for Wanliu Capital.
Jiang Banxia certainly couldn't turn around with hundreds of billions of funds at that time, so... he would definitely lose a lot of money.
However, the trust level of her funds is not high, and once huge losses occur, she will face large-scale redemption.
Originally, 50 billion a year was a sure thing, but if Jiang Banxia doesn't handle it well, it might be a disaster, and all the funds brought in over the past half month will leave.
For Li Yang, it was a draw with Jiang Banxia. Telling him in advance would allow Jiang Banxia to be mentally prepared.
It is already mid-December, and the January crash is imminent. There are two main reasons. The first is that the A-share market is going to implement new index circuit breakers, and the financial circle wants to try out this new function to make the stock market circuit breaker.
So on the opening day of January 4, the market fell directly by 5%, triggering the first-level circuit breaker. After that, the market opened and dropped directly to 7%, triggering the second-level circuit breaker.
Another reason is that too many A-shares were unblocked, with hundreds of billions of stocks unblocked in one month, which has never happened before.
For the entire A-share market, the average value of stocks released from lock-up each month is only around 16 billion yuan. This month, the value is five or six times the usual figure. Naturally, the short-selling force is also unusually strong.
With a capital scale of over 30 billion, it is unlikely that Wanliu Capital will turn around.
This time, thousands of stocks hit the daily limit down, and no one was spared except those stocks that Jiang Banxia was doing high-frequency trading.
It doesn’t mean that the stocks she trades with high frequency won’t fall, but Jiang Banxia has the ability to push them up.
But the funds she can operate are very limited, at most 30 to 40 billion, and the remaining holdings will seriously hinder her performance.
…
Ofo is expanding very quickly and has been making progress every day since it received funding three months ago.
Currently, it has started operating not only in Beijing, but also in several super first-tier cities. The number of registered users has reached several million, but only tens of thousands of users have paid a deposit.
Of course, the speed at which money was burned was also exaggerated. The more than 20 million was not enough to spend and it was gone in less than two months.
This was even though he owed a lot of money to suppliers and had to use users' deposits, and he was able to barely maintain rapid expansion for three months.
At the end of December, ofo announced its financing news, and Li Yang must have received the news.
After all, who in the world doesn’t know that Li Yang has money? David has great ambitions for this round of financing, because the conversion rate of paid users for the small yellow car is very high.
This is just the beginning of the promotion, and with many free activities, the payment rate is close to 5%. It will be normal for the payment rate to exceed 10% in the later stage.
Countless capitals have contacted him privately, including Shunwei Capital, which failed to invest successfully last time.
The last time the shared bikes were launched, they were still a startup, but this time things are different.
Although it was only three months apart, it was verified on a larger scale, which was enough to prove that his strategy was feasible and there was a blue ocean in the future.
This time he wants more money and a higher valuation, and Li Yang is an investor he must win over.
So, he called Li Yang in advance.
"Junior Li Yang, ofo is preparing to hold its Series A financing conference on the 30th of this month. Do you want to come?"
"Senior Dai, I'm really sorry. I might have something else that day and can't go." Li Yang refused.
David was stunned, and quickly said: "Junior brother, I know I failed to get you to invest last time, this time I promise..."
He had to call Li Yang over, because this time, he believed that no one could bid higher than Li Yang.
Last time, Li Yang was willing to offer 21 million, but according to his understanding, Yuancheng Capital has no money at all and is unable to participate in the competition this round.
But he certainly couldn't say it directly, otherwise Li Yang would think he was taking advantage of him.
But Li Yang quickly replied: "Senior, it has nothing to do with last time. I do have something to do this time. I have to attend a party and see off a friend."
"Well...how about this, I'll notify other investors...let's change the date? How about the 29th?"
"Senior Dai, how much financing is ofo going to raise this time? Is it still 30%?"
"Yes."
"Then I'll offer 150 million. If there's anyone here who offers a higher price than mine, I'll give up. If not, you can contact me anytime."
After saying that, Li Yang hung up the phone.
He really had something to do. Not only on the 30th, but even on the 28th, 29th, or even before January 3rd, he had no time to attend the financing conference organized by David.
But he will definitely put some pressure on the Cen family.
The offer of 150 million is a little bit high, just like last time.
At this price, if you can participate and then run away after two rounds, you can still make money.
The current valuation of ofo should be more than 400 million, and his offer is not much higher.
If it was 180 million, he even doubted whether the Cen family could come up with it.
So 150 million is the best, if the Cen family is willing to pay...
"Brother Yang, why didn't you bring Jiang Banxia here?"
He Lewei asked a question on the side, and at this time all five people in the dormitory came to the Starry Sky Chamber, ready to play two new scenes later.
Li Yang asked, "Why did you bring her here?"
Li Yang would never take Jiang Banxia to play escape room again. That girl was not afraid of anything. If it was the same as last time, and she suffered some psychological trauma, he felt that he would never have the desire to create in his life.
He Lewei smiled and said, "Of course we play together."
"Oh, she's busy at work and isn't interested in our vulgar hobbies."
At this moment, Gong Chenlin asked, "Li Yang, is your hometown Jiangcheng?"
"Yes, what do you want to tell me? We don't have any local specialties in our hometown..."
Gong Chenlin smiled and said, "I'm not asking about specialties. The company that Song Xiaoli is going to report to this time is in Jiangcheng."
Li Yang: “…”
"So I want you to take care of her."
Li Yang said with a smile: "Since Senior Sister has spoken, I will definitely try my best to help."
The reason why he was busy these days was because Gong Chenlin's work unit had been determined, and the selection examination was not difficult for her.
Moreover...Gong Chenlin started out by helping out in the city, which was a very scary starting point.
It has nothing to do with personal ability, but with background.
Of course he has to build good relationships. Song Xiaoli is quite capable, but doesn't he still have to start from a small county?
Although Gong Chenlin and He Lewei have not yet officially confirmed their relationship as boyfriend and girlfriend, as long as their relationship develops normally, they will be almost there by the time He Lewei graduates from university.
The schedule for the next few days has been fully scheduled. They will eat, drink and have fun for a few days, and then the whole dormitory will see Gong Chenlin off.
Agreeing was to give Gong Chenlin a way out, otherwise she would be embarrassed if he refused her in person.
What is there for him to talk about with Song Xiaoli?
…
After David was sure that Li Yang could not come, in order to maximize his own interests, he immediately leaked Li Yang's offer.
Based on Li Yang's quotation, the negotiations will be much easier in a few days.
In fact, he still felt a little regretful, because Li Yang was not coming to the scene, which meant that there was no room for flexibility.
It would be better if Li Yang offered 180 million.
After all, Shunwei Capital had already contacted them privately and offered a quotation of 120 million yuan plus some resources from the Rice Group.
David was not satisfied with the price Li Yang offered this time, so he could only use it as a bargaining chip.
For Cen Yezhen, he was still a little excited after knowing the offer.
Because the investment in ofo is currently the most successful investment of Yuancheng Capital, which he manages.
The last investment was 24 million, and the company acquired 30% of the shares. Now the valuation of ofo must be over 400 million.
Based on this ratio, the shares they hold are worth more than 120 million.
However, this round of financing will definitely be diluted. Based on 70%, it is still worth more than 84 million.
In just three months, more than 20 million turned into more than 80 million. This is the charm of investment.
According to the Cen family's idea, they will not participate in this round and let the shares be diluted. They will definitely make money anyway.
Even after two more rounds of financing, they will still hold 10% of the shares of ofo, which may be worth two or three hundred million yuan by then.
But... ofo is so popular now that Cen Yezhen has received too many calls recently, all asking to buy their shares in ofo. Some offered 90 million, and some even offered 100 million.
David has also become the darling of the capital market, and world-renowned venture capital companies are gearing up and eager to try.
This scene was so damn familiar to Cen Yezhen.
This is a sign that a top enterprise is about to be born!
Therefore, the Cen family held an emergency meeting to discuss whether the Cen family should participate in this round of financing of ofo.
The Cen family has the lead investment rights and has an advantage in price.
Whether it was the investment in Boss Jia or Principal Wang, although they all went through the channel of Yuancheng Capital, it actually had nothing to do with Cen Yezhen, and this time it was actually him who led the matter.
At the meeting, he described the future of ofo to his family and produced a bunch of data to prove that ofo was still in a rapid expansion stage and had an extremely high development dividend period.
At least four more rounds.
As long as the family is willing to invest, even if it is just to win this round, the future returns will definitely exceed one billion!
With this round of success, they will become ofo's largest shareholder, holding 51% of the shares.
After Cen Yezhen finished speaking, someone immediately asked: "Yezhen, according to what you said, the family will have to come up with more than 150 million yuan in funds this time. This is not a small amount, and the family may not be able to come up with it."
If the Cen family could easily come up with two or three hundred million, Yuancheng Capital would not be unknown.
Cen Yezhen had already thought of an excuse, and said, "I think 150 million is not a difficult thing. This is an opportunity for the family. No matter whether we invested in Boss Jia or Principal Wang before, we didn't get any obvious gains. Besides, even if everyone doubts my ability, they won't doubt Li Yang's vision, right?"
His words are very hurtful.
It was clearly directed at Li Yang, but he had to admit Li Yang's vision.
If it weren’t for Li Yang, they wouldn’t even look at the ofo bike project.
How could the Cen family have so much money to gamble? More than 20 million is a huge sum of money, and it would be a huge loss if they lost it.
It’s just that now I’m making money, huge money.
Someone else asked: "We are just newcomers in the venture capital circle and don't understand some of the ways venture capital works. Will it affect the company's subsequent operations if we rashly take so many chips?"
Cen Yezhen waved his hand and said, "Who is David? He knows more about capital operation than anyone else. If he dares to take it, it means there will be no problem. Besides, although we are newcomers in the venture capital circle, we have connections in the capital circle, and even not just in the capital circle. We can also help to get some policy support. The most important point is that although we have a lot of shares now, in fact, after a few more rounds of financing, the shares will soon be reduced to less than 20%. What impact can it have on the company?"
According to Cen Yezhen's analysis, ofo has a potential of at least tens of billions or even hundreds of billions, but its current valuation is only a few hundred million.
Even though it seems that after the next round of financing, David only has 40% of the shares, he actually holds the initiative and can motivate himself in the future.
But by then the Cen family will not need to pay for it, it will be the responsibility of subsequent investors.
If you don't rush in now, do you have to wait for others to enter first?
Overall, there is nothing wrong with Cen Yezhen's idea.
But he is indeed a newcomer.
On December 30, at ofo's financing conference, Cen Yezhen waved his hand and won a share of ofo's Series A financing for 180 million yuan.
This money is all the financial liquidity of the entire Cen family.
Because... I really don’t see any reason to lose money!
How could they lose money? On the 31st, several venture capital companies came to the door, wanting to buy some of their chips, and compared with yesterday's valuation, they offered a premium ranging from 5% to 10%.
There is no such quick way to make money in the world.
The Cen family didn’t know how to thank Li Yang so much, thank Li Yang for making them rich!
…
New Year's Day holiday.
Jiang Banxia is also on vacation.
It went from a group of five to a group of six.
Although the capital city is very cold in winter, the first light snow happened to fall on New Year's Day.
At this time, on January 3, Li Yang and Le Wei each drove a car and went to the suburbs.
The suburbs of Beijing are no different from other suburbs.
Bare trees, low buildings, and narrow country roads.
They found a mutton soup restaurant, sat at a table for six, and ate mutton hotpot while chatting.
Halfway through the meal, He Lewei suddenly said, "Brother Yang, how about we have a drink?"
Li Yang took a look and said, "What the hell are you drinking? You still have to drive later. Have you ever heard this saying, don't drink and drive, don't drive after drinking, if you drive improperly, your loved ones will shed tears?"
"Shit, I didn't say I wanted to drive, can't I just call two drivers?"
"It's such a long way, where can I call a driver?"
"????"
He Lewei was fed up with Li Yang's rustic thinking.
You don't know how rich you are, but you act like a poor bastard.
How much does it cost to hire two drivers?
He Lewei didn't ask this guy to pay.
At this time, Gong Chenlin said: "You guys can drink a little, and then Jiang Xuemei and I will drive."
Li Yang looked at Jiang Banxia, who nodded: "Yeah, drink it, I will definitely bring you back safely!"
"Then my life and property will be in your hands."
Li Yang actually didn't want to drink because he didn't trust Jiang Banxia's driving skills.
But at this time, he couldn't ask He Lewei and the other three to drink.
He Lewei just wanted to drink some wine, cheer himself up, and say a few words to Gong Chenlin before she left.
After all, the two of them made little progress in their daily online chatting.
To use the more popular term currently, it is called being more than lovers.
Half an hour later, the meal was basically finished. Li Yang and his friends also drank some wine and were now finishing up the table.
Jiang Banxia had already eaten her fill, and was listening to everyone's conversation with her chin supported by her hands.
She is even more socially anxious than Gong Chenlin.
Gong Chenlin behaved normally after getting familiar with the place, and she didn't say much tonight.
At this time, He Lewei was talking incessantly about Gong Chenlin's advantages, which made Gong Chenlin feel a little embarrassed. She kept winking at He Lewei and even made some small movements under the table.
But Lewei just pretended not to see or feel it.
Li Yang seemed to be drunk, dizzy, and tilted his head, leaning on Jiang Banxia's shoulder.
He Lewei was stunned for a moment.
The four of them didn't drink much alcohol tonight, and how could he not know Li Yang's alcohol tolerance?
At this time, Gong Chenlin also noticed the situation here, and finally found an excuse, saying: "Is Li Yang sleepy? Then let's go back first."
Jiang Banxia pushed Li Yang, "Master Li, wake up..."
Li Yang remained indifferent.
He Lewei finally spoke up and said, "He's drunk! Let me help him get in the car!"
After saying that, He Lewei stood up 'staggeringly'.
Seeing this, Gong Chenlin quickly stood up and pressed his shoulder, saying, "I don't think you're any better, sit down first."
At this moment, Li Yang woke up and asked in confusion: "Are you done talking? Then shall we go back?"
After saying that, he stood up dizzily and put his arms around Chen Weixing and Tan Kai's shoulders...
"Lao Chen, Lao Tan, help me a little..."
Chen Weixing and Tan Kai haven't reacted yet.
In the whole dormitory, the two people with the worst alcohol tolerance are still standing here, but the two people with the best alcohol tolerance are now lying down?
The two were forced out of the door by Li Yang. When they arrived at the car, Li Yang handed the car keys to Chen Weixing and said, "Old Chen, you drive."
At this time, Jiang Banxia also followed out and said unhappily, "You are still pretending!"
"And Lewei?"
"Senior Gong told us to go first and she will send Le Wei back later."
"Okay, let's go back first."
"Don't you want me to drive?"
"No, no, this guy Lao Chen insists on showing off in front of you. Let's give him a chance today."
Li Yang pulled Jiang Banxia to sit in the back seat, and then leaned on Jiang Banxia's shoulder.
"Master Jiang, I'm really drunk."
…
He Lewei, who was still in the restaurant, was supported by Gong Chenlin and slowly walked out.
After coming out, I found that there was only one car left, so I asked in confusion: "Senior, where are they?"
Gong Chenlin said: "I don't know, maybe he left early, I'll take you back later."
"Excuse me, Senior..."
"That's okay, but my driving skills are average and the road conditions aren't particularly good, so I might drive slowly..."
"It's all my fault. I can't drink much, so I shouldn't have suggested drinking..."
(End of this chapter)
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