1991 Starting from the core

"Are these two companies fools? Or do they regard HK people as fools?"

In front of a computer in the trading hall, a middle-aged trader crossed his legs, sprayed tea leaves, and said disdainfully to the young man next to him who was reading the news word for word: "The situation in HK is like this, why do you still want to come?" ?”

"Brother Da, that may not be the case." The young man raised his head seriously: "The major shareholders of these two companies are Yuanxin, and Yuanxin also revealed this year that it will reduce its holdings of newbook stocks and actively expand. I After reading Deyuan’s financial report, their revenue is very good, and they even have very little credit, and with the flash memory..."

"Stop!" The trader called Da Ge stopped the young trader from saying: "Then tell me, why do they come to HK?"

The young trader named Xiaoxing had a good temper and said patiently: "The newspapers are deliberately exaggerating. Deyuan is listed on both Nasdaq and HK, and Hongyuan is listed on both HK and Shanghai Stock Exchange."

Da Ge was stunned, grabbed the newspaper, and read it seriously.

After a few minutes, Da Ge put down the newspaper.

"How's it going, Brother Da?"

"Not very good." Da Ge frowned: "These two companies should have received political tasks, and their main financing channels are still in the other two places."

Xiaoxing looked at Brother Da with a serious look on his face: "No, Brother Da, it should be that they have confidence in HK."

"Brother Da, I want to buy these two companies when they go public."

…

A week later, New York.

Although it was decided to go public in both places at the same time, the first stop for Zhang Rujing's roadshow was Morgan Stanley, or to be more precise, Morgan Stanley Dean Witt - just last year, Morgan merged the investment subsidiary of Sears. The bank was renamed Dean Witt \u0026 Company.

There is a reason why we chose Morgan Stanley as our first stop.

As a long-term bull on the domestic economy, Morgan, also known as Morgan Stanley in later generations, jointly established "China International Capital Corporation" - the famous CICC - with China Construction Bank three years ago. and holds 49% of the shares.

As Zhang Rujing visited Morgan's IBD department, John Mack's office also welcomed a distinguished guest and "old friend".

Since the merger of Morgan and Dean Witt last year, the honeymoon period has not yet passed. The two sides have had various differences due to different concepts and corporate cultures, and have been fighting openly and secretly.

Morgan's side is headed by John Mack, while Dean's side is headed by Pei Xiliang.

At this time, the two sides are still fighting, but Su Yuanshan knows the outcome - John Mack will fail in the competition for CEO three years later, leave Morgan in anger and join CSFB (Credit Suisse First Boston Bank), while Pei Xiliang will aspire to the CEO throne of Morgan Stanley .

But the fate of the world is reincarnated. In order to completely control Morgan Stanley, Pei Xiliang appointed nepotism in many important positions. This eventually triggered a desperate counterattack by many Morgan executives four years later. They united to impeach Pei Xiliang and forced him to resign.

On Wall Street, when the leader of a giant company is attacked by a group of people, it not only shows that he has lost his support and control of the company, but it is also more humiliating.

However, what was even more humiliating was yet to come - Pei Xiliang's successor was none other than John Michael, who had left in anger.

It can be seen that "legendary" dramas such as The Return of the King are the Americans' favorite.

…

"Su, thank you for coming."

John Mike was in his early fifties, in the prime of life. When he saw Su Yuanshan for the first time, he recognized who the friend Qin Si mentioned was.

"Mr. Mike, this is my honor." Su Yuanshan shook hands with a smile.

This gentleman already had the nickname "Knife" at this time, indicating his vigorous and resolute style - and historically, after his return to Damo, he was even more merciless towards Pei Xiliang's faction, and almost no one was spared. Stay and drive them all out of Damo.

Hmm... Su Yuanshan likes this kind of character with clear distinction between grudges and grudges.

Regarding Su Yuanshan, John Mike had extremely complicated emotions.

This emotion, of course, starts with Qin Si.

Seven years ago, Qin Si, who had just graduated from school, got an offer from Morgan directly because of his excellent grades, and then entered his department.

As a newcomer, Qin Si certainly did not have the opportunity to be independent at that time, but in various daily affairs, Qin Si managed her work in an orderly manner with rare rigor, which attracted the attention of John Michael.

But just when John Michael wanted to continue to observe how much potential this little girl had...

She actually resigned!

If you just resign, forget it. After all, Wall Street never lacks talents and geniuses.

But with the rise of Xinghai and Xinghai, this little girl once again appeared in the sight of Wall Street bosses.

When Internet companies born in North America began to emerge one after another and then carried out multiple rounds of financing, people discovered that there was a vague figure standing behind those Internet companies with great potential.

With the listing of Xinghai and the change of shareholders, Xinghai Fund suddenly became the largest shareholder of Xinghai Technology, an emerging technology giant.

Today, in terms of the equity of publicly listed technology companies, the current market value of the shares currently held by Xinghai Fund has exceeded 50 billion US dollars...

If Xinghai Fund wasn't a pure private equity fund, if Qin Si hadn't deliberately kept a low profile, if it weren't for her race and ethnicity... then she would have been blown up by all media!

In the eyes of Wall Streeters, she has long become the uncrowned queen of venture capital.

But at this moment, Qin Si changed her past strength and ability, and then showed the gentleness and temperament of an oriental woman that she had never seen in front of John Michael. She just smiled and listened quietly to the exchange between the two.

…

"Su, can you answer a few questions for me?" John Mike gathered his emotions and asked Su Yuanshan with a smile.

Su Yuanshan made a gesture of invitation.

John Mack smiled and asked with just the right tone of doubt: "Why would Deyuan choose to list on both Nasdaq and HK at this time?"

Su Yuanshan shook his head slightly and smiled helplessly: "Your question...actually should be answered by Mr. Zhang Rujing."

John Michael just smiled, still waiting for the answer.

Not to mention that Yuanxin came to our door, even if it didn't come to our door, as a technology company that has risen like a miracle, it has incomparable appeal, enough for all investment banking institutions to understand it in depth.

Countless investment banks and funds couldn't figure out why a mainland company could flourish in both places and target the Internet six years ago.

Everyone knows the relationship between Yuanxin and Xinghai.

Therefore, a few months ago, when Yuanxin revealed that it would reduce its holdings in Newbook, Newbook, whose stock price was at its peak, stopped rising in an instant, and even all Internet concept stocks experienced shocks of varying scales.

Although this shock only lasted for a moment, it still reflected Yuanxin's strong influence in the Internet field.

Therefore, John Mack naturally knows that a powerful major shareholder like Yuanxin, which is at the top of the semiconductor industry chain, naturally has the ability to influence Deyuan's decision-making.

"Well, actually... As a company that started with technology, Yuanxin has always believed that investment should return to rationality and its most original function - it should be born to support the development of enterprises."

"As a semiconductor manufacturing company, Deyuan relies on advanced processes and technologies; relies on it being the manufacturing center of all components in the digital age; relies on its profitability; relies on it representing the crystallization of mankind's most advanced engineering technology, relying on It’s the future… and it’s open to investors.”

"And this is something that everyone can reach a consensus on, whether in Hong Kong, North America, or even the whole world."

"So, where Deyuan is listed and what the stock market status is there are not among Deyuan's considerations."

John Mack listened carefully.

It's just a pity that Su Yuanshan did not directly answer why he has confidence in the Hong Kong dollar, but just repeated his confidence in the Hong Kong dollar.

John Mike nodded, knowing that Su Yuanshan was unwilling to answer, so it would be useless to continue asking.

"The second question is, does Yuanxin's reduction of Newbook's equity this time mean that Yuanxin is not optimistic about Newbook, the first Internet stock? In other words, it is not optimistic about the long-term future of the Internet."

After asking, he looked at Su Yuanshan seriously, not missing any details.

——Morgan is one of the investment banks that is preparing to take over Newbook's shares. To put it more bluntly, it is a project that he strongly advocates for investment.

Because of his relationship with Qin Si, John Mike has gradually tended to shift his investment field to the Internet, rather than cutting leeks as advocated by Pei Xiliang.

Although Chen Jing, chairman of Yuanxin, had stated the reason when she came to negotiate, how could this be possible? John Mack couldn't wait to pull every senior management member of Yuanxin over and ask them...

Su Yuanshan smiled and sighed.

It seems that the old guys on Wall Street have been cutting leeks very smoothly this year.

No wonder, how do these people know about high technology?

So Su Yuanshan stopped talking nonsense: "We are reducing our holdings of newbook because we are a leading semiconductor company, not an investment institution - for example, Xinghai Fund will not reduce its holdings of newbook's stocks. All our actions are for the semiconductor industry development of."

When Newbook was first listed, Xinghai Fund was naturally there to support it. However, at that time, Xinghai Fund had not yet reduced its holdings in Xinghai Technology, so it only subscribed for 40 million shares.

Now, these 40 million shares have brought more than 20 times the income to Xinghai Fund.

Qin Si nodded from the side: "Mr. Mike, we have always believed in the future of IT and the Internet."

Seeing that John Mike was still frowning and looking dissatisfied, Su Yuanshan shook his head with a smile again.

"If you are really worried, then make a bet, Mr. Mike."

John Michael was slightly startled!

Qin Si suddenly covered her mouth and laughed. Seeing John look at her immediately, Qin Si smiled and waved her hand.

Not to mention Yuan Xin and others, even she knows that when Mr. Shan thinks that talking more is useless, he will directly use his final move.

bet.

The bet here includes but is not limited to the direction of strategic investment, the direction of technology, and the implementation of technology.

According to private rumors, Mr. Shan has never lost.

Obviously, even if he studied Su Yuanshan thoroughly, Morgan Stanley would not have expected that Mr. Shan was actually such a person.

"You can set the time for one or two years as you like, and set a target price. If it doesn't rise to the target price, I'll redeem it at the original price. If it does, you'll share the profit with me."

John Mack: "..."

How could this be possible! redemption? Co-authoring means lending money to Yuanxin for development? And is it an interest-free loan?

"Aren't you afraid that I will be short-term..." John Michael was speechless for a while.

"You mean, you want to use financial means to prevent the rise of an emerging field?" Su Yuanshan looked at him with a half-smile.

John Michael was shocked and regretted his words.

The general trend of the world is vast and powerful. Those who follow it will prosper, and those who go against it will perish.

Nowadays, everyone is telling stories about the Internet. Whoever dares to short the Internet company with the largest market value will be crushed to pieces.

And if short Newbook can be successful, it means that the newly emerging Internet will be driven into dust.

After taking a deep breath, John Mack asked the last question.

"Is Yuanxin planning to go public?"