Chapter 291 The Happiness of Being a Hangout
After returning to Chengdu, there were too many people visiting Qi Sheng to count.
There were venture capitalists and banks, and many of them were pushed to Qi Sheng because Lu Wei couldn't refuse them.
Qi Sheng selectively met a few of them and made an appointment with Zifei to have a meal and chat by the Lu Lake.
"President Qi, I have contributed a lot of money to Zifei and Yu Tu under Zhuangyu Catering. Is there any chance for me to get involved?"
He Yu has a blind enthusiasm for the company under Qi Sheng's name.
They made a fortune from the Lawang project alone.
By the time you exit, you will get at least 10 times the return on investment.
It can be said that Lawang is the most successful investment case of Black Ant Capital.
It is precisely because of the star project Lawang that the subsequent two rounds of fundraising by Black Ant Capital were particularly smooth.
But relying on just one Spicy King is not enough to support Black Ant Capital for a lifetime.
Now, He Yu is thinking about other companies under his name.
"Mr. He, forget about Zhuangyu Catering. I wonder if you are interested in Pop Mart?"
Qi Sheng has other considerations for Zhuangyu Catering and is not in a hurry to raise external financing.
"Pop Mart?"
He Yu's eyes lit up, "Of course I'm interested!"
"To be honest with you, Mr. He, I plan to raise another round of funds before Pop Mart goes public, and the valuation is tentatively set at US$3 billion."
"If Mr. He is interested, you can communicate more with Mr. Si."
Qi Sheng doubled the valuation of Pop Mart as soon as he opened his mouth, which shocked several people present.
But there are also people who remain unmoved and instead consider the valuation thoughtfully.
“3 billion US dollars…”
He Yu was stunned. He didn't expect Qi Sheng to have such a big appetite.
When they withdrew from Pop Mart, the valuation was less than 300 million US dollars.
In less than a year, the valuation has increased tenfold! This is just how you rob money.
But looking at Pop Mart’s performance, it is indeed very positive.
The blind box business alone makes a lot of money.
The newly developed Ultraman cards helped its net profit double.
"Mr. Qi, we at Huaxing Capital are willing to accept this valuation!"
A bald middle-aged man with an unremarkable appearance at the dinner table nodded slightly at Qi Sheng.
"Bao Fan?"
Qi Sheng was naturally familiar with this investment circle tycoon who had once made a lot of noise.
Huaxing Capital was founded by him and he has deep friendships with many Internet giants.
He was responsible for promoting the mergers of Meituan and Dianping, and Didi and Kuaidi.
It can be said that he is very famous in the investment circle.
"Thank you Mr. Bao for your recognition of our Pop Mart. We can talk in detail after the dinner."
Qi Sheng raised his glass to Bao Fan and didn't intend to talk too much at the dinner table.
Sequoia's Shen Nanping will definitely follow up with investment in this round of financing for Pop Mart.
There is also Huaxing, a small shareholder who followed the investment.
This round of financing has basically ended.
It doesn’t matter whether there are other people or not.
"Mr. Qi, we at Black Ant Capital also accept this valuation!"
He Yu suddenly became anxious and looked at Bao Fan warily.
Although, he has a good relationship with Qi Sheng.
But to maintain this relationship, we must be more synchronized in some aspects.
It’s like if the company under Qi Sheng’s name needs financing, he naturally has to help promote it.
But Bao Fan's grandson actually got one step ahead of him and did a favor for Qi Sheng.
He Yu was afraid that if he hesitated any further, it would affect his relationship with Qi Sheng.
After the dinner, the other investors tactfully said goodbye and left.
Qi Sheng brought He Yu and Bao Fan back to Shengxuan Financial Center.
By the way, we also called Pop Mart’s CEO Si Kang to report to the two investors.
"Boss Si, please briefly introduce the company's current revenue and profit to Boss He and Boss Bao."
Qi Sheng snapped his fingers and signaled Liu Shiwen to make tea.
"OK."
The introduction of Scone is very detailed, from the number of stores to the matrix creation of brand IP.
Even the number of signed trendy toy designers and the production and sales data of newly added Ultraman cards.
As investors, He Yu and Bao Fan could naturally tell that there was nothing exaggerated in the description of Scone.
These are all real achievements, and they can also find out through subsequent due diligence.
"Mr. Si, from what you said, Pop Mart's net profit this year can reach more than 1 billion?"
Bao Fan was a little surprised and said, "Then Pop Mart's revenue this year can reach 5 billion, right?"
"That's right. This is because we haven't fully developed the profit potential of Ultraman cards. Otherwise, the net profit would be even higher."
"We are considering creating some offline 'Hero Duel' activities to enhance the influence of Ultraman cards and stimulate sales data of cards."
Si Kang kindly reminded: "Mr. He, Mr. Bao, we plan to submit our prospectus to the Hong Kong Stock Exchange in June. If everything goes well, we will be listed by the end of the year."
“It’s on the market so soon?”
He Yu was also surprised. He didn't expect that Pop Mart would be the first company under Qi Sheng to go public.
On the contrary, there has been no movement from the Spicy King yet.
In other words, we are still waiting for more exciting news to stimulate continued growth in valuations.
"This round of financing was also applied for by me and President Qi. Mr. Shen from Sequoia has already accepted Pop Mart's valuation for this round. It depends on what you two choose."
Si Kang was not in a hurry at all. At worst, he could just ask his boss for a few hundred million.
Qi Sheng's financial resources are not inferior to those of top venture capital firms like Sequoia.
Precisely because of its confidence, Sikang’s investment in Black Ant and Huaxing is dispensable.
But it is precisely this confidence that makes investors most at ease.
Moreover, Pop Mart’s performance is indeed very good.
The blind box and Ultraman card businesses themselves have very high net profits, at least 20%.
If the revenue really reaches 5 billion and the net profit is 1 billion.
The valuation of 3 billion US dollars compared to the net profit of 1 billion.
However, the PE ratio is only 21 times, which is not too outrageous.
It may even be possible for Pop Mart to hit the $10 billion watershed for super unicorns.
After drinking a cup of hot tea, the two had made a decision.
"Mr. Qi, our Huaxing Capital plans to invest 30 million US dollars."
"We at Black Ant Capital can invest $60 million."
Bao Fan and He Yu looked at each other and spoke in tacit understanding.
"Thank you Mr. Bao and Mr. He for your support for Pop Mart. I can make a promise to you two."
“If Pop Mart’s market value is lower than your investment valuation, I can buy back your shares out of my own pocket.”
After Qi Sheng said this, Bao Fan and He Yu suddenly felt no more pressure.
This situation is impossible to happen.
Pop Mart has the lowest market value, but it is still over 20 billion.
This was before he took over.
"Haha, I feel relieved with what Director Qi said."
"But I believe Mr. Si and Pop Mart will definitely not let us down."
He Yu would not be so stupid as to let Qi Sheng sign a contract in black and white. Investing itself is risky.
With Qi Sheng's status, he will never go back on his word after saying this.
Otherwise, it would be a slap in his own face.
"We at Huaxing are the same. We hope to have more opportunities to cooperate with Mr. Qi in the future."
Bao Fan shook hands with Qi Sheng, obviously not satisfied with investing only in Pop Mart.
If Lawang’s valuation hadn’t increased so quickly, he really wanted to invest in it.
He Yu was extremely lucky as he successfully acquired shares in Lawang's A round.
A hint of envy flashed in Bao Fan's eyes.
But this is the charm of investing.
Whether you can hit the jackpot depends entirely on your vision and luck.
Although, he didn't catch up with the spicy king's express train to wealth.
But now that I have connected with Qi Sheng, I will no longer have to worry about not having good investment projects in the future?
…
After seeing He Yu and Bao Fan off, Qi Sheng chatted with Si Kang for a few more words and then sent him away.
Open the system's revenue growth permission and select Pop Mart.
[Pop Mart's current valuation is RMB 10.5 billion, which is in the RMB 10-100 billion market value range. It can enjoy a 40% revenue increase. Should the increase authority be activated? ]
[Yes, yes, yes…]
Qi Sheng estimated that Pop Mart’s revenue could have reached 5 billion.
With the help of this wave of system cheats, revenue can surge to 7 billion.
Given Pop Mart’s net profit margin, 20% is very stable.
That is a net profit of 1.4 billion.
This is nearly half higher than the net profit that Sikang had previously predicted for He Yu and his team.
With such performance, it would be hard not to gain recognition from Hong Kong stock investors.
It is the same whether you are driving one sheep or a flock of sheep.
Qi Sheng was not in a hurry to give La Wang cheats before, so he arranged it this time.
Apart from anything else, just because La Wang helped him digest 200 elite talent recruitment cards, he had to make some arrangements.
La Wang has no shortage of money, and Qi Sheng has no shortage of talent.
This is also a perfect closed loop.
[Lawang's current valuation is RMB 70 billion, which is in the RMB 10-100 billion market value range. It can enjoy a 40% revenue increase. Should the increase authority be activated? ]
With Qi Sheng confirming the launch, La Wang’s turnover is bound to see a surge.
Lawang currently has 245 stores.
There are at least four stores in all second-tier and above cities across the country.
Lawang stores have also opened in some third-tier cities.
But there are not many, only ten cities in total.
There are only two Lawang branches in each city.
In third-tier cities, the price of Lawang has further dropped to 149.
What stands out is the price-performance ratio.
On average, the monthly turnover of a single Lawang store can reach 10 million, with a net profit of around 2 million.
This data is before the system's revenue growth authority is enabled.
On average, the table turnover rate in each store is 4 times.
But after the revenue growth is started, La Wang’s average table turnover rate will increase to 5.2 times.
The monthly net profit of a single store will also soar to 2.8 million.
The turnover rate of 5.2 times alone is terrifying enough.
In addition, the monthly net profit of a single store soared to 2.8 million.
With the current number of Lawang stores, the monthly net profit is as high as 700 million yuan.
As Lawang continues to open stores, it enters more third-tier cities.
Monthly net profit will also continue to rise.
There is no mistake in the poem, post, content, and read the book on 6, 9, and bar!
The annual net profit exceeding 10 billion is just around the corner.
If nothing unexpected happens, the revenue of Lawang will definitely exceed one trillion yuan after its listing.
Qi Sheng felt particularly happy when he thought that there would be a company with a market value of one trillion yuan under his name.
"Director Qi, President Zhou is here."
Liu Shiwen knocked on the door, bringing Qi Sheng, who was immersed in joy, back to reality.
"Oh, let him in."
Qi Sheng said slowly.
"boss."
Zhou Huaiping vaguely guessed why Qi Sheng called him here.
"Mr. Zhou, the twin towers that I promised you have already been bought by me."
Qi Sheng said lightly: "Those two buildings will be used as office buildings, and the subsequent decoration work will be handed over to you."
Even though Zhou Huaiping was prepared, he couldn't help but be stunned.
"Boss, are the twin towers in the financial city going to become our group's self-owned property?"
Qi Sheng smiled and nodded, then took out a document and handed it over.
"This is the purchase agreement. You can take a look at it."
"Oh, okay."
Zhou Huaiping took it subconsciously, flipped it open and took a few glances.
The financial city landmark, the Twin Towers, with a total price of 4.5 billion, was directly acquired by Shengxuan Group with full payment.
The seemingly simple string of numbers made Zhou Huaiping swallow his saliva.
Wow, that's 4.5 billion! And it's all paid! Zhou Huaiping was also very curious about how much money his boss had.
"I will personally contact Shengxuan Decoration to ensure that the decoration results meet your requirements!"
Zhou Huaiping thoroughly felt the joy of being carried away by thighs.
The properties owned by the group alone are enough to keep them busy.
"By the way, regarding the Twin Towers display project, talk to the government and see if you can share the cost."
Qi Sheng was also trying to catch rabbits while catching grass.
"As for the display screen manufacturer, choose BOE, which is also considered to support domestic products."
"I see."
Zhou Huaiping left happily.
When I walked, I subconsciously straightened my back.
Although Shengxuan Property's profitability is the worst among the companies under the boss' name.
But they have the boss to lead them.
Shengxuan Financial Center, Huashang Financial Center, Financial City Twin Towers, Crystal Shining Qiantan T6.
Just these five buildings are enough to keep them busy for a while.
Maybe their expansion speed cannot keep up with the speed at which the boss buys buildings.
…
Qi Sheng motioned to Liu Shiwen to pour tea, and the latter looked at the man sitting upright with some curiosity.
"Mr. Zhang, I'd like to hear your opinion on the current mainstream long video platforms."
Zhang Wei was obviously prepared for this problem.
From the users of the three major platforms to their respective core advantages, it is told in great detail.
"Mr. Qi, in my opinion, the core competitiveness of long-form video platforms still lies in the proportion and quality of their own dramas."
Zhang Wei concluded: "If your company, Universe Entertainment, can produce good self-produced TV series, then our platform will have a chance to surpass iQiyi, Youku and Tencent Video."
"Universal Entertainment's film and television production capabilities will definitely satisfy you."
Qi Sheng thought for a moment and said, "How about this? I will give you 2 billion as start-up capital and send you some elites. Can you produce a qualified app within three months?"
"no problem!"
Zhang Wei's eyes lit up, he was indeed a big boss.
Who can bear to spend 2 billion yuan casually?
Developing a video app is difficult.
But if Qi Sheng assigned him some elite soldiers and generals.
Even if he has to work overtime, Qi Sheng can still complete it within three months.
"However, we need to purchase some copyrights first, otherwise the video platform will have too little content and it will be difficult to retain users."
After Zhang Wei was happy, he started to worry again.
2 billion is indeed a lot.
But just buying the copyrights of some film and television dramas would cost several hundred million.
After deducting the bandwidth cost, you can only buy a few good movies and TV series.
Get rid of the lame third Youku.
Kiwi and Penguin Video spend no less than 20 billion on content costs every year.
Unless every drama they purchase is a hit, they can keep users on the platform.
But the problem is, this is totally unrealistic.
"Your top priority right now is to develop the app first. As for the purchase of movies and TV series, there is no rush."
Qi Sheng naturally understood Zhang Wei's concerns.
But as a guy with a lot of skills, how could he fight a battle he was not sure of winning?
The screenwriting department of Universal Entertainment alone has no less than 10 outstanding screenwriters.
All of them are expert talents.
Qin Wen was even promoted to the master level by him.
It is no exaggeration to say that in the entire domestic entertainment industry.
The quality of screenwriters at Universe Entertainment is top-notch! Otherwise, how could scripts like "Mountains and Seas" appear out of thin air?
Qi Sheng was just reborn, he is not omniscient and omnipotent.
There is no shortage of directors, scripts, actors, and Universal Entertainment.
However, Qi Sheng doesn’t want to let iQiyi, Youku and Tencent Video get the upper hand.
That's why we are following these scripts and delaying the start of work there.
Now, its own film and television platform is finally going online.
Three months is just enough to complete the shooting and production of some small and medium-cost film and television dramas.
Speaking of which, the predecessor of Universal Entertainment also had many high-quality film and television copyrights.
So as not to make the newly launched film and television platform look so shabby.
"Mr. Qi, what do you think we should call this video platform?"
Zhang Wei naturally wouldn't have any objection.
But the big boss has to come up with a name first so that he can hold a meeting with his subordinates later.
"Well... let's call it Xingchen Video, and the company will be called Xingchen Films."
Qi Sheng came up with a name casually, "Go see if anyone has registered the trademark in advance, and buy it if there is one."
"OK."
Zhang Wei didn't care about the name, as long as it didn't sound weird.
Kiwi, Youku, Penguin, aren’t these names all ordinary?
For long video platforms, the most important thing is content.
As for the platform itself, it is enough as long as the playback is smooth without any lag and the picture is clear enough.
"By the way, how much do you plan to charge for membership of our platform?"
Zhang Wei suddenly remembered the most crucial and most important point.
"Monthly membership is 9.9 yuan, and annual membership is 99.99 yuan."
Qi Sheng said without thinking.
"Uh…is this too low?"
Zhang Wei's mouth twitched. "The annual membership of iQiyi, Youku and Tencent Video is basically over 200. Even if there is a 618 promotion, it will be at least 128."
"It doesn't matter how they set the price, as long as our price never goes up."
Qi Sheng added another sentence.
"Boss, would you like to reconsider this?"
Zhang Wei really has no confidence that the platform can remain profitable with such low membership fees.
"You can rest assured that the copyright offer given to you by Universe Entertainment will definitely be worth the money and will be of good quality and low price."
As the co-boss of the two companies, Qi Sheng would naturally not allow one of them to exploit the other.
For Universe Entertainment, the money earned from making TV series is just a drop in the bucket.
As long as you can make a star famous, there are many ways to make money.
Even if they sell the copyright of the film and television drama to Xingchen Film and Television at cost price, they will not lose money.
From the perspective of a film and television platform, Zhang Wei naturally felt that the low membership fees would result in serious losses.
But what Qi Sheng cares about is the few billion? It's not even enough for the system's monthly reward.
Only when the membership threshold of the platform is lowered can more audiences come in.
Further boost the popularity of film and television dramas, thereby making stars famous.
Compared with iQiyi, Youku and Tencent Video, Qisheng has a huge advantage.
The talents provided by the system are a dimensionality reduction attack on the other three companies.
As long as Qi Sheng wants, he can even reduce the cost to the lowest level.
Anyway, the actors, directors, and screenwriters are all talented people who are loyal to him.
Even if they are not paid, they will complete their work without any discount.
In terms of spending money, the system consumes more than 9 billion yuan in ammunition every month.
Even if the three major platforms were completely exhausted, Qi Sheng would not feel any pressure at all.
There is no way, the joy of hanging is so simple! (End of this chapter)