My Age of Investment - Chapter 1502 Be a man with conscience

   Chapter 1502 To be a man, you must talk about conscience

   When Xia Jingxing returned to the capital after his vacation from the grassland, the equity transfer of Conscience Holding Group had basically come to an end, and the final process began.

  Under the joint supervision of many parties, Huake Holdings, the largest shareholder of Conscience Holdings Group, officially listed and publicly sold 65% of its shares through the Jingcheng Equity Exchange.

  Huake Holdings only holds 65% of the shares of Conscience Holdings Group. In this transaction, it was decided not to keep one share and sell all of them, which is equivalent to completely handing over the "Wang Zhan" in his hands.

   As a result, as soon as the news of the equity transfer was announced on the Beijing Equity Exchange, it received a lot of attention from the society.

Conscience Holdings Group was listed on the Beijing Stock Exchange last year. At that time, Jiangfan Group, a well-known private enterprise, was only one step away from taking 29% of the listed shares. However, at the last moment, Huake Holdings made an emergency brake and announced the cancellation of the transaction. , making countless financial media and observers collectively stunned.

Not long after that, a major personnel earthquake occurred in the Conscience Holdings Group. The magnitude of the earthquake was huge and the impact was widespread, which made countless people from government-run enterprises feel terrified. Even the performance of government-run enterprises in 2009 collectively rose sharply... Enterprises Revenues haven't grown much, but expenses have decreased, so profits turned over have increased.

   Media people were very interested in this series of news, but before they could dig deeper, they soon received earnest teachings from the editor-in-chief, director, general manager, and CEO.

Therefore, the fluctuation of related events caused by the Conscience Holding Group did not cause much public opinion frenzy in the Mainland at all, and many people even did not even know that the Conscience Holding Group had changed a batch of executives. 's news reports saw the news.

   Now a major event has happened to Conscience Holdings Group, which is about to change from an absolute government-run enterprise to an absolute private enterprise.

   The reason for saying this is that Huake Holdings, like last year, listed the equity transfer on the Beijing Stock Exchange and indicated the conditions for the introduction of the equity transferee. Only by meeting a series of conditions can he become the new boss of Conscience Holdings.

The difference from last year is that the conditions indicated by Huake Holdings this year finally seem to be doing serious business. Although it also includes requirements such as paid-in registered capital, total assets, net assets, and average net profit in the past three years, it has not been proposed. The main business of introducing shareholders must include nonsense requirements in the three fields of finance, energy and real estate.

   A company whose main business is to sell assembled computers, but requires that the incoming shareholders must be engaged in real estate and energy. Anyone who sees it does not think it is a serious transaction.

  Huake Holdings was implicated by Conscience Holdings and was severely cleaned up. Several newly promoted executives strictly implemented the spirit of the meeting. The requirement this year was that the main business of the proposed shareholder object must include consumer electronics.

   Regarding this news, although the media did not dare to scoff at the news, it did not prevent them from discussing in private. Most people felt that Huake and Conscience Holdings were finally normal this time.

Introducing a shareholder engaged in consumer electronics can at least generate business synergy with Conscious Computer and Conscious Mobile, help conscientious company revive its glory, solve larger-scale employment and taxation for the country, and maybe realize the real domestic computer equipment. , safety and controllability.

  The media people were discussing and discussing, and they discussed who will be the new boss of Conscience Holdings Group?

   Soon they accurately locked the two companies based on the various conditions reported by Huake Holdings.

   Renaissance Industrial Group and Chrysanthemum Factory!

   Only these two companies in China meet this series of conditions. First, they all have consumer electronics businesses, and secondly, the size of the enterprise can also meet the requirements.

   Soon, the media speculation became a reality, and Fuxing Industry and Chrysanthemum Factory both announced their participation in the transaction.

   Then, within a few days, Chrysanthemum Factory announced its withdrawal from the transaction on the grounds that the company's strategic direction was inconsistent, so Fuxing Industry became the only eligible transferee, and it was almost a foregone conclusion to take over the 65% stake in Conscience Holdings.

   Time flies, and in a blink of an eye, it’s September.

After the 20 public announcement days, Fuxing Industrial Group, Huake Holdings and Conscience Holdings jointly held a press conference. Fuxing Industrial Group announced at the meeting as the only qualified equity transferee during the listing period, with RMB 10.01 billion. The price of 65% of the shares transferred by Huake Holdings was transferred.

   This equity transfer price has been repeatedly audited by a number of professional accounting firms, and has been reported to the highest department for review.

   In addition, it is worth mentioning that the valuation of the conscience holding group reflected in the equity transfer price is 15.4 billion yuan, which is an increase of 62.11% compared with the valuation of 9.5 billion yuan estimated by the conscience holding group when it pre-transferred 29% of the equity last year.

   In just one year, it seems very strange that the valuation of a loss-making company of Conscience Holdings Group has increased so much.

   In fact, after careful auditing, it is not surprising, because the method of calculating the valuation this year is different from last year.

   Last year, Conscience Holding Group assessed the parent company’s valuation based on the total net assets and market value of each subsidiary.

  Conscience Group, whose main business is to assemble computers, as a listed company, calculated the market value during the stock price trough after the outbreak of the financial crisis. It cannot be said that the calculation was wrong, it can only be said that the timing was good.

Rongke Zhidi, whose main business is real estate development and property self-sustainability and management, has not been listed, but it was also affected by the financial crisis last year, and real estate companies generally have a hard time. Therefore, the evaluation of the land value and the value of self-owned properties that were photographed, Basically can not comment too high prices.

  As for the VC fund Legend Capital and the PE fund Hony Capital, the evaluation is even more troublesome. These two funds hold a lot of equity in unlisted companies, and the evaluation is not based on the conscience of conscience.

   For example, how much is Vision Capital worth? The upper limit can be very high and the lower limit can be very low.

Legend Capital and Hony Capital, one is a domestic first-tier venture capital, and the other relies on social security funds to raise tens of billions of funds, although the proportion of the money earned by GPs is not too high, only 20 to 30% However, it is impossible to assess how much convenience and hidden value it brings to the fundraising, investment and other activities of these two major institutions, and it is easy to be ignored.

Therefore, due to the combination of the right time, the right place and various factors, a conscience holding group, which was so large, only estimated a valuation of less than 10 billion last year, so that even a company mainly engaged in real estate in Jiangfan Group could not help but spend precious The cash to play a cross-border investment, after all, the old friend gave too much, and if you don't get in the car, you will become a fool.

   Now Xia Jingxing disdains to play this kind of low-level means, and always adopts fair, just and open transactions, even if he spends a little more money, he doesn't care, as long as there are no hidden dangers.

In this way, Conscience Holding Group completed the change of ownership in a high-profile and low-key form. The process that should be followed is not easy, and the social comments are basically biased towards positive. Industry and Conscience Group, two large international companies, go hand in hand"...

  …

  Conscience Building, which is located in Shangdi Science and Technology Park in the capital and adjacent to Fuxing Industrial Building (which has not been renamed for the time being), welcomed its new owner today.

   In front of the building, two black Baojun cars stopped steadily.

Xia Jingxing moved quickly and walked out of the car first, then looked back at the car behind him, and nodded secretly in his heart. In recent years, Wuling's automotive technology has indeed made great progress. This Baojun, which has just been launched, is stronger than Wuling Rongguang. Many, more suitable for manned.

Li Guangnan pushed open the car door on the other side and walked down, seeing Xia Jingxing who was looking at the car, he couldn't help laughing and joking: "Is it much better to ride in a car made by my own company than in a Rolls-Royce or a Maybach? ?"

   Zhang Chenguang, the driver, pursed his lips and smiled. Speaking of which, he hadn't touched those luxury cars in Xia Jingxing's garage for a long time. In recent years, he has been fighting with Wuling Rongguang and Baojun.

  Think of him as a dignified driver of the richest man in Asia, and he is not as good as the driver of the small boss.

  Xia Jingxing laughed, took out his Fuxing mobile phone, gestured twice, and said, "The boss of the company is the company's best spokesperson and experience officer. If you dislike your own company's products, what future and development is the company talking about?

  Wuling has been improving all the time, helping me to change my car from Wuling Rongguang to Baojun. I hope it can launch a product that competes with its old German watch BMW in a few years. "

   Lin Bing, Xie Yun and others who got off the other car could not help laughing after hearing Xia Jingxing's words, can Baojun be an old watch with BMW?

Xia Jingxing noticed the expressions of these executives and chuckled: "Don't believe it, in a few years, maybe Wuling will turn around and become China's Tesla... Oh, no, it should be the world's Wuling."

  The boss said so, who dares to pour cold water? Everyone nodded and agreed.

   Seeing this, Xia Jingxing shook his head slightly in his heart. He didn't know whether the brand image left by Wuling in the past was too bad, or his flickering skills were inferior to the old horses. Why did no one understand his ambitions and car dreams?

   After everyone stopped and talked for a while, they began to crowd Xia Jingxing into the building.

   As soon as the group passed through the gate, they saw the executives of Conscience Holding Group and its subsidiaries who hurried downstairs to greet them.

   Yang Daqing, Zhu Linan, Zhao Linghuan and these familiar faces are all gone. They are either going to fly high because of the bad situation, or stepping in and stepping on the sewing machine. Everyone has a bright future that belongs to them.

   (end of this chapter)