Waving goodbye to the dumb on WeChat, Chu Yuanxi couldn't help but think of the last time Xiao Li came to Xiaokang, it was in September last year, he and the director of 724 Uchida came to visit together.

Thinking of Xiao Li, Chu Yuanxi thought of India again, and then thought of an interesting news that happened in India today. On this day of the Democratic Party's primary election, the leader of the United States, Emperor Sichuan, came to India, and then the Indian people enthusiastically held a large welcome party called "Hello".

As a result, Emperor Chuan gave a speech in front of tens of thousands of people, saying: "We have very good relations with Pakistan......

Surprised? Not surprised? Accustomed to the textbook-like stereotyped process, this famous scene is extraordinarily impactful, and it is said that all the cheers on the spot came to an abrupt end, and a needle dropped on the ground could be heard.

Chu Yuanxi immediately felt sorry for Modi for a second, and said in his heart that Emperor Chuan Mo was not embarrassed for me Modi?

This matter didn't need Lu Yu to report to Chu Yuanxi himself, but it was a good ghost animal material. Chu Yuanxi pushed it to Lu Yu instead, and asked him to make a video of Station B to join in the fun, and asked, today is another carnival at Station B.

The main one is that during this time, the third brother released a huge hostility towards the country, which was very obvious and undisguised, and he almost said in public that he hoped that the country would hit the street.

So Emperor Chuan did it beautifully!

There are still a lot of big things happening on this day, such as the green factory held their new machine launch conference, IQOO3The pricing and configuration are regarded as a strong foil to Xiaomi, and the Mi 10 is still a representative of cost performance.

For another example, DingTalk also launched the 5.0 version journey in the form of a cloud conference, wanting to launch the circle function to create its own private domain social networking, grab the traffic of WeChat Moments, and so on.

But when he was eating dinner as usual, he saw Grandpa Suzuki Yu standing in the corridor, looking at the sparsely populated street outside the bay window, his eyes were very confused.

"Are you old man?" Chu Yuanxi stopped, Suzuki Yu looked very stiff today, and he could feel Suzuki Yu's silent sadness.

I only heard Yu Suzuki say, "An old friend of mine passed away today." ”

"Ah...... Condolences. Chu Yuan Xixin said that this was the case, so it was inconvenient to inquire.

Unexpectedly, Yu Suzuki continued: "Have you played "Contra"? It would be great if you could call up 30 lives in your life. ”

Chu Yuanxi secretly said with a sigh! This is too knowing, in today's terms, this is the symbol of popular culture back then!

And now that Ba Ren has begun to cultivate film and television dramas, he also knows that "Contra" has a live-action movie plan, and it is co-produced with Guochao Film and Television Company......

I just heard Yu Suzuki say, "President, I want to do something, do you support it? I want to make a documentary, it may take up a little time." ”

"Huh?

"What happened in your country during this period is zero-contact takeaway and food, everyone wearing masks, temperature guns, and home quarantine for two weeks, mainly to pat at how your life is affected and how you are coping. Things have been going on hard for us lately......"

Chu Yuan Xixin said in his heart that it was not good, isn't this 226 right away? He saw that even the emperor was being raped by someone, and P became the feeling of a serial.

"Okay, I'll let Lu Yu support you. Are you going to take it back and play it?"

"Yo Xi!" Yu Suzuki finally showed a smile, "Yes, it just happens to be on the self-media of the group company, so that the group of red deer can see what to do!"

............

On the 26th, it was cloudy over the imperial capital.

Sister Xu's contemporary capital headquarters is in the magic capital, and there is only an office in the imperial capital, but the environment is not bad. It's not the first time that Chu Yuanxi has been to her coffee room, but today she feels super hot and can't help but loosen her tie. Today he wore that modern double-breasted black suit again, and Mr. Chu, who rarely has formal clothes, wore it like this, showing that he has a lot of respect for people.

When he entered the door, Xu Xin was already inside, and there was a man with gray hair and white complexion, Chu Yuanxi didn't know him, thinking that it was someone in the main house, but he didn't expect the other party to take the initiative to stand up and stretch out his hand, and Xu Xin next to him said: "This is Lao Ning of CC Investment, I happen to be here today, and I will meet you by the way." ”

"Hello, hello. Chu Yuanxi hurriedly shook hands. CC investment is a rather silent name, it used to be romantic, and now it is a European PE investment giant, only in terms of volume, it is a giant among giants, much more than contemporary capital, Xu Xin doesn't look at the wrist, only compared to the scale and even the younger brother can't be a brother. However, with the rapid decline of the two star companies after the acquisition of Qiao Jiangnan and Da Ma Dumplings, the ability and style of this PE have also been questioned, and it has rarely appeared in the investment circle of the dynasty in recent years.

After shaking hands, he hurriedly looked at Xu Xin, it is impossible for the big man of CC investment to come here specifically to know himself, if he wants to come, does it have something to do with money?

Sure enough, Xu Xin was straightforward and said, "Lao Ning does have something, but it's a good thing, tell you about it?"

Chu Yuanxi smiled deferentially, sat down calmly, and only heard Lao Ning say: "As for us, we are not interested in domestic investment at present, but mergers and acquisitions have always been done, mainly to do some business to assist mergers and acquisitions." ”

The so-called auxiliary mergers and acquisitions are assumed that the well-off wants to merge and acquire a software service enterprise such as two-dimensional fire, but the two-dimensional fire asks for 1 billion yuan, and the well-off can't come up with so much money, and they don't want to borrow or take out loans, what should they do?

In this way, the institution pays the money, and the well-off merger and acquisition entity, of course, it must also come up with some money, and then sign a series of agreements. So the money was first put together to merge and acquire the target, put it in the well-off, and then there were several ways to deal with it.

One is that both parties are sincere in holding shares, and they are both optimistic about the increase in value of Erwei Fire after being acquired by Xiaokang, but this is very unfavorable. It is not that the value of the two-dimensional fire is increased by the disadvantage of being taken advantage of by the institution, but that the two-dimensional fire cannot be dispersed and absorbed into its own enterprise, and the passivity of losing this key option is lost. Once it is dissolved, it involves hollowing out the two-dimensional fire, which infringes on the interests of the brother institution, so it is necessary to sign a series of agreements and memoranda to ensure that the small money of the institution is not violated.

The other is to agree on a date, when the well-off exercises the right to subscribe, and by then he should have saved enough money to buy the target completely. In this way, the institution completes a transaction, and crosses the bridge to make a considerable profit. What if the well-off does not subscribe? Institutions also have put rights, and can forcibly sell to the well-off, but the price will definitely be lower than the subscription price of the well-off.

There are more complex models involving arbitrage, as-selling, and so on, but in short, the two sides cooperate to take what they need.

I only heard Lao Ning say: "We are very interested in another merger and acquisition recently, do you want to hear about it?"

"Wait, let me guess. Chu Yuanxi stretched out his hand and gestured, "Could it be...... Fun games, right?"

"Hey, did Sister Xu reveal the news to you?"

"Hahahaha, there are not many acquisition targets on the market that need to alarm you for such a large PE institution, which is a good thing, or a good thing that I am interested in, in fact, the range of options is quite narrow. Legaku has long made public its intention to be acquired, so it's easier to think of it. ”

In fact, what Chu Yuanxi wanted to say was that Temole Games had found Ba people, otherwise he wouldn't have thought of it so easily.

That was after the Ba people had just put Ali's first money in their pockets, but the high price of 10 billion yuan made Chu Yuanxi have no idea, what did he buy it for? The PE multiple sold by Ba Ren Game was lower than the PE multiple of the price of Lega, didn't it cost a loss to buy it? So he slipped away.

However, for companies that want to "buy profits", this PE multiple becomes very tempting, and about 7 times PE buys assets in the market, and the premium rate is really not high.

The so-called PE multiple is the price-earnings ratio, that is, the multiple after the valuation divided by the net profit of the current period, which represents how many years it takes to earn back the money invested after investment.

Of course, the company that buys profits is to beautify the financial statements, and then go public, and exchange cash for an increase in profits. Listing is a very strange thing, and having money in your hands will not only not help you to go public, but will bring problems -- why are you so rich and still have money to go public? On the contrary, the profit amount is very high, especially my big A shares, for the company that declares to be listed, there are requirements for profits.

Driven by Chu Yuanxi's hearty smile, the room was full of cheerful atmosphere for a while. I only heard Xu Xin say: "Lao Ning is now talking to another game company, and the other party is also very active, but the money needed is really a lot, I want to ask you, is the Baren Group willing to unite the three?"

Chu Yuan Xixin said that the three companies are united, so what is it to play a hairy game? If the two game companies join forces to acquire, who will merge the table?

"What does Mr. Ning mean is that the Ba people are also used as auxiliary acquirers?"

"This can be discussed, and it is okay for the Pakistani people to be the main force. Lao Ning also observed his words as he spoke, but found that Chu Yuanxi didn't seem to be very interested.

He couldn't help frowning slightly, and said, "Mr. Chu, you have so much money in your hand, you should have the idea of mergers and acquisitions, right?"

"Yes, there have been a few cases recently. ”

"Then let me tell you," Lao Ning said and stretched out two fingers, "First, there are not many really good targets on the market, and if you miss it, you really miss it, and there are not many people who want to do mergers and acquisitions now." Second, when you see your favorite target, you can start quickly, and you can't wait for a while. ”

I saw Xu Xin nodding again and again: "Lao Ning, they are professional in M&A business, especially in coordination." ”

Seeing that Chu Yuanxi didn't seem to have gotten to the real point, she continued: "This is what we just talked about, you know that the China Securities Regulatory Commission opened a refinancing opening in mid-February, right?"

Of course, Chu Yuanxi knew, not only did he know it, but he also chatted with Yuan Jing and Yuan Yuan, and issued three instructions in a row, creating a "better" financing environment for listed companies.

Xu Xin saw him nodding, but did not say anything, and suddenly said in confusion: "I didn't expect it, why are you so slow to react today? After the relaxation of refinancing, listed companies will definitely have to make money one after another, especially the listed companies that were in the waist before." What do you do with money? Acquire assets. So there's definitely going to be a lot of corporate venture capital in the future. If you don't buy now, the price of the asset will rise. ”

"That's the second reason I'm here. Lao Ning immediately straightened his chest: "M&A services are our strength. ”

Chu Yuan Xixin said that he couldn't see that Xu Xin was still a little sales expert, and he was tempted to say it this time. Why am I slow to react? My spirit is all on the side of Mido, why should I allocate more energy to others?

But seriously, there are indeed few PE institutions that focus on serving the needs of corporate mergers and acquisitions within the country, most of them are amateur players, helping their invested companies, and even Xu Xin does not dare to say that he is professional.

Therefore, he immediately agreed: "Indeed, we have a need, and it is not small. However, regarding the part of mergers and acquisitions, I have arranged for the CFO of Xiaokang, who is also an investor in Ba, Yuan Yu, to let her deal with it. Do you think you want Yuan to coordinate this with you?"

"Oh, you have such a deep relationship with Yuan Alfalfa?" Lao Ning really didn't conduct too deep an investigation into Chu Yuanxi, Yuan Alfalfa knew that this matter seemed to be done.

At this moment, Xu Xin said "people are coming", and soon, a man with thin cheeks and rimless glasses walked in, probably in his forties, and his temperament was quite polite. Chu Yuanxi has never met but has seen photos, this is Zhang Wu, CEO of Meiduo Group.

This is not an easy person to deal with, in fact, Chu Yuanxi is more willing to meet their chairman and founder, Mr. Zhang.

Although Mr. Zhang is eloquent and strategic, after all, he is old, so he should be easier to deal with. This Zhang Wu has a deep understanding of the mobile Internet, and his public views on new retail are also remarkable, in a word, he is called tactical mastery. And Chu Yuanxi wants to see this side, in fact, he has some ideas, and he needs a certain amount of "persuasiveness", the so-called "just to chat" Xu Xin probably doesn't believe it, of course, it is better to talk to Mr. Zhang.

Seeing that someone was coming, the three people, including Xu Xin, hurriedly stood up, Lao Ning greeted first, it seemed that he had known each other for a long time, Zhang Wu muttered in a low voice, Chu Yuanxi didn't quite know what it was, but saw him press down with both hands, and then took the lead to sit in the empty seat.

The three of them also sat down, just in a square square, quite suitable for playing mahjong.

Chu Yuan Xixin said that this Xiao Zhang's aura is strong enough? Some people can show their difference when they sit in the crowd, they don't need to use their clothes to show it, and they don't need to speak, and others will follow his rhythm together, this is the aura.

Usually this is a manifestation of being in a position for a long time, there are too many people who have been managed, and too many reports have been heard, and such people can often control the situation as soon as they speak. Chu Yuanxi himself didn't have this kind of aura, he had to speak in order to release his aura.

Seeing that Xu Xin was just about to speak, Zhang Wu waved his hand again and raised his face slightly: "Sister Xu, you know that I don't like to be polite, let's get down to business." Mr. Chu asked me to talk, what kind of advice do you have?"

"I don't dare to be taught. Chu Yuanxi smiled slightly, "Although we were relatively new when we first met, you must have made some guesses before you came, right?"

Xu Xin was next to him, seeing that these two people were talking more stagely, and he wanted to laugh in his heart. Chu Yuanxi definitely didn't come to contact feelings, and the so-called once born and twice cooked can't be used on this occasion.

I saw Zhang Wu nodding slightly, "That's right." You are so busy with business, it is impossible to invite you for no reason, in my opinion, it is nothing more than to send some kind of signal, cooperation, competition, cooperation in some fields, competition in some fields? In addition, some of my colleagues are guessing, do you have any capital operation needs?"

He kept his head slightly down as he spoke, and finally raised it completely at this time, and showed a gentle smile: "It's not because I heard that we discussed the feasibility of merging and selling Xiaokang, so let's talk about it, right?"

Xu Xin didn't wait for Zhang Wu to release his aura, and immediately let out a rather imposing laugh: "Hahahaha, in fact, you can also talk, but Xiao Chu, your 300 billion will not be exempted." ”

"If you don't have 300 billion, you can have 100 billion. Chu Yuanxi easily took this, and said in his heart that you really want to merge and acquire a well-off, although you can borrow money very well, but the liquidity in your hand may not be as much as mine, you use your face to merge and acquire a well-off?

It may be that the other three people took turns to speak, and when Lao Ning also followed the rhythm and spoke: "Hey, hey, how come there are still 300 billion 100 billion? I heard that Mr. Chu is going to do financing, isn't the price 20 billion?"

I only heard Zhang Wu say: "The financing valuation is 20 billion, and mergers and acquisitions must generate a certain premium." Hehe, it's a pity that we can't afford 20 billion, it's really poor......"

Chu Yuanxi smiled slightly when he heard this, "You are too modest, in fact, I am really willing to sell 100 billion." Tianxian is worthy of that Duan Luting, I questioned him, didn't you tell me that you wouldn't sell it until it reached 5 billion? Why did you sell it for 1.8 billion? Guess what he said? He said that Meiduo was really willing to pay 1.8 billion. ”

Zhang Wu's face suddenly turned embarrassed, how to think about how to lose this deal in hindsight! No matter how you say it, it should not be higher than 1.2 billion. The key is that he talked about it personally, but fortunately he set up a bet. But it will be three years before the VAM will take effect, and after three years, who knows what the situation will be?

Zhang Wu's embarrassment made Chu Yuanxi's expression more vivid, and said: "Actually, I asked Mr. Zhang to come, I really want to talk about the possibility of cooperation." Shuangma has invested in the convenience store track, Jack has already bet, Pony actually invested a lot, but it didn't close, this track is very wide, not so easy to close.

In fact, we still have a lot of complementary places between the two sides, if we form a strategic alliance, maybe we will close the mouth? Although the layout of the small store is very positive, it is mainly based on the format of large stores, and the small stores are used as offline supplements to the APP, so our main goal is not incompatible. When the time comes, we will avoid the edge of the double horse, and I will attack hard when I meet a child, with the blessing of the father of the gold lord behind me, and the scale is just up and down to eat, isn't it beautiful?"

"That's right!" Xu Xin didn't expect these words to come out of Chu Yuanxi's mouth, and immediately pressed the table, "Take Pearl Harbor!"