Chapter 305 [Voting in Jingdong, Da Qiangzi is still possible]

The matter of Kyushu Blue Arrow has come to an end for the time being. The research and development capabilities of Luo Liang, Xiang Lanzhi and other six technicians have been greatly improved, and then they can wait patiently for their results. At that time, they and Kyushu Blue Arrow will also be considered mutual achievements .

With Qiu Guangcheng in charge of the Kyushu Blue Arrow project, Fang Hong also shifted his main energy to other places in the following days.

This week, the A-share market fell sharply. On Monday, November 30th, the last trading day in November ushered in a strong rebound. Foot Dayang Xian.

In December, on Tuesday, December 1st, the A-share market ushered in the last month of the year. The market continued to rebound strongly this week. The market index rose +1.25% on Tuesday, +1.06% on Wednesday, and -0.16% on Thursday. On Friday, it rose again by +1.61%, and the index closed at 3317.04 points, standing on the 3300 point mark again.

Especially on Friday, the A-shares staged a stock market. The two markets opened low in the morning and then pulled up all the way. At around 11:00, they rose to 3300 points, and the increase expanded by +1.43%, and then dived again, until 13:15 in the afternoon. Turned left and right, the decline expanded to 1.6 percentage points, and then fluctuated again in the afternoon to close higher, and finally closed up +1.61%. The trading volume of the two cities also released 400 billion level energy again.

In today's roller coaster market, Qunxing Capital's remaining bargaining chips in the A-share market are all sold and cashed out today.

Even the mao was cleared, leaving only a bottom warehouse.

Because in the next six months, there will be a period of major decline in Maotai, so it is natural to avoid risks.

...

Monday afternoon, December 7.

"Strategic investment in Jingdong?" Tian Jiayi, who returned home to report on the work of Qunxing Capital, was also surprised to hear Fang Hong's new idea. Seeking financing."

The beautiful assistant was quite curious, and didn't know what Fang Hong was doing at home these days. In Tian Jiayi's impression, he was a prodigal son who was singing and singing all day long. Why did he suddenly want to enter the e-commerce field, and he fell in love with it? Jing Dong instead of Ah Li.

"How can a company in the entrepreneurial stage not be short of money? What's more, Jingdong now has many and powerful opponents." Fang Hong said with a smile. In the past few days since December, he has not done much stock trading, nor patronized his sister. They are having fun, but have been thinking about how to spend Qunxing Capital's money.

Jingdong has become one of Fang Hong's goals. Da Qiangzi is still very good, and Jingdong is also worth a heavy bet from Qunxing Capital. At this time point, Jingdong's valuation will not exceed 300 million US dollars.

As early as April 2007, Jingdong received 10 million US dollars of financing from Capital Today. In December 2008, Capital Today, Xiongniu Capital, and the private company of the famous Asian investment banker Liang Botao and other institutions once again raised financing for Jingdong. $21 million.

Fang Hong handed Tian Jiayi a set of materials related to Jingdong and added: "Contact with the head of the house as soon as possible to finalize it."

Tian Jiayi took the material and opened it to look at it. After a while, his eyes widened after reading the content of the material, and he looked up at Fang Hong and said, "You want to invest 2.5 billion in Jingdong? As far as I know, Jingdong's current valuation is in the industry. It is generally believed that it is around 200 million U.S. dollars, are you investing in Jingdong Ventures or buying it directly?"

The investment is 2.5 billion, which is about 335 million U.S. dollars converted into U.S. dollars, which is higher than Jingdong's current valuation.

Fang Hong and the beautiful assistant said with a smile: "Although the money I earn is similar to that brought by the strong wind, I am not a stupid son of a landlord who has a lot of money. I have calculated this figure carefully. the result of."

Tian Jiayi was speechless. After joining Qunxing Capital, he really felt that way. The money he earned was really as simple as the wind blowing.

The company is really poor now and only has money left, and now the big A has cashed out.

Fang Hong continued: "According to my calculations, Da Qiangzi needs at least 2 billion yuan if he wants to build an asset-heavy e-commerce model in a big city. How much money is needed to build warehouses, logistics centers, and fixed assets? Investment is impossible without 2 billion or so.”

The model of Jingdong is different from that of Ali. For this reason, the founders of the two major e-commerce companies have confronted each other when bragging at many industry forums. The founder of Ali said bluntly that the business model of Jingdong It was doomed to be unable to continue playing, and it was difficult to make a profit. The Da Qiangzi at the time had no words to refute, because now Jingdong is indeed in a state of "huge loss", and making profits is simply a dream for Da Qiangzi.

Tian Jiayi couldn't help thinking thoughtfully: "I heard that the founder of Ali once complained about Jingdong's business model at an Internet conference. He said that Jingdong does everything. Such a business model is almost a bottomless pit. If we don't make transformation, The number of employees will soar in the next few years, and according to Mr. Ma's prediction, there may be 300 million parcels per year in the next ten years."

Tian Jiayi looked at Fang Hong and said: "Based on this calculation, in theory, Jingdong may need millions of employees to complete the handover of express delivery. Just so many employees will let you manage enough and make you sleepless. I think What he said is quite reasonable, there is indeed a problem with Jingdong's business model."

Hearing this, Fang Hong said with a smile: "Let's not talk about whether there will be a day when Jingdong has millions of employees. If there is, it does not mean that a company cannot manage millions of people. There are only 1.4 million employees, and the management is very good, so why can’t Jingdong do it?”

Tian Jiayi said: "It seems that you really plan to bet on Jingdong."

Fang Hong nodded and said affirmatively: "I still have confidence in Da Qiangzi. He was quite 'out of place' when he was still selling CDs. He insisted on clearly marking the price, making small profits but quick turnover, insisting on invoicing, and insisting on good service. It is said that when Jingdong was still called Jingdong Multimedia, the Bureau of Industry and Commerce went to the company for three days to investigate and found out that there was no tax evasion, no parallel imports, and no fake CDs. In this way, Jingdong gradually accumulated word of mouth and repeat customers. "

After confirming that Fang Hong wanted to invest in Jingdong, Tian Jiayi didn't say much, just execute it.

However, Tian Jiayi still reminded: "You want to invest so much money, but people may not accept it."

According to Fang Hong's information on the material, this investment requires 45% of Jingdong's equity. Of course, Jingdong adopts the AB share system. Even if it takes 45% of the equity and becomes the largest shareholder, the control It's still in the hands of Da Qiangzi, but Fang Hong has no intention of taking control.

"The 2.5 billion yuan is not directly financed to Jingdong. We will invest 300 million US dollars in Jingdong, and the other part will be bought from the previous rounds of investment institutions." Fang Hong said.

Institutions in the previous rounds of financing include Capital Today, Xiongniu Capital, etc. The current valuation of Jingdong in the industry is only about 200 million U.S. dollars. Fang Hong directly bought it from several institutions at a valuation of about 700 million U.S. dollars. A part of it is equivalent to allowing them to recover their previous investment costs.

It’s not about letting them withdraw completely. The rest is profit. It’s definitely not a big problem to negotiate. Besides, Qunxing Capital came in with a lot of money and directly raised Jingdong’s valuation. It is estimated that it will reach 1 billion U.S. dollars in a short time Unicorn level.

Most of the venture capital will be withdrawn later, and now Qunxing Capital is offering a premium of 2.5 times, it is impossible not to be tempted.

...

Qunxing Capital also acted quickly. After Fang Hong made a decision, Huayu immediately arranged to hand over the venture capital project to Shi Yao, one of the company's directors.

Three days later, Shi Yao flew over with a few people on the company's private plane, and then chartered a car to Su Qian, braving the heavy snow in December to find Da Qiangzi with the contract.

Da Qiangzi was surprised when he heard the news, he didn't expect people from Qunxing Capital to come to him directly to invest in his company.

...