After staying at home for two more days, it was almost time to go to work, Zhang Yida said goodbye to his parents and returned to the capital with Zhao Erya.

Following.

The first day of work in the new year.

"Goldman Sachs has finished reducing its holdings?"

Zhang Yida asked Fan Hongyang while looking at the unaudited fourth quarter report and annual report of Yimin Netfinance.

After the reduction was completed, these foreign devils made a good profit, with an average price of $23.51 and cashed out $117.56 million in one fell swoop. ”

Fan Hongyang said a little sourly that the founders of his hard-working business are still living a "hard life" and insist on not cashing out. Goldman Sachs made a lot of money and worked for capital.

"In January last year, Goldman Sachs invested $444.42 million in us, and we got back a quarter of our capital at once, but they only sold one-eighth of their shares......

In one year, I have doubled my earnings, and I still make money through capital operation!"

It is normal for Fan Hongyang to complain, and Zhang Yida understands this. When Goldman Sachs bought shares last year, he also cashed out a large amount of money, and Fan Hongyang didn't have any hair.

Now watching Goldman Sachs eat meat in the pot, he can only circle around the pot, and he must be unwilling.

"What is our stock price now?" Zhang Yida put down the financial report in his hand and asked Fan Hongyang.

"It's down another 5% today, to just $22.1. ”

Fan Hongyang looked heartbroken, and said, "Now except for Goldman Sachs, other investment banks have adjusted our stock ratings from "hold" or "positive" to "neutral" or "sell". ”

"It's okay!" Zhang Yida pointed to the financial report on the table, "I handed it over to the accounting firm for auditing, and sent it out as soon as possible, it should be able to raise the stock price a little." ”

Speaking of the financial report, Fan Hongyang finally showed a smile, "Mr. Zhang, 2015 was a bumper year, and we basically completed the offline store coverage in the first, second and third-tier cities across the country. ”

"Not bad!" Zhang Yida nodded, "The annual matching loans exceeded 40 billion yuan, the annual revenue was 5.72 billion yuan, and the net profit was 1.848 billion yuan." ”

Fan Hongyang waved his hand, "This is thanks to Ruixiang, who provides us with credit endorsement and business diversion, and we have saved a lot of marketing expenditure." ”

"If we don't have a sharp direction, at least our annual net profit will be discounted. ”

Fan Hongyang has been trading Yimin Netgold for more than two years, and he also knows how deep the water in this industry is.

There are three biggest costs in P2P, one is the cost of advertising and marketing customer acquisition, one is the cost of capital, and the other is bad debts.

Yimin Netfinance and Ruixiang both have a common boss - Zhang Yida, which provides Yimin Netgold with an opportunity to gain fame.

Even without promotion, there are often a group of tap water users to sign up for the Yimin financial management platform under Yimin Net Finance.

When the customer service visited these customers, these customers said that they came to see it, and they heard that it was Zhang Yida's company.

This is the current situation of the Internet financial investment platform, and users attach great importance to the background of the platform, such as: who is the boss, does it have the ability to cover the bottom line, and can its assets cover the platform to be collected?

Zhang Yida's two most well-known companies are Ruixiang and Huimin Bicycle, in the past two years, these two companies have become popular all over the country, and Zhang Yida has gradually become known to the public.

In addition, Yimin Netfinance has always been the best in the advertising recommendation position obtained by Touronghui Financial Supermarket, and the price is still quite a bit preferential compared with other peers.

In terms of capital cost, Yimin Netfinance has also been optimizing, introducing bank funds and injecting its own funds into its small loan companies.

In addition, after the listing of Yimin Netgold, the brand has been upgraded, and a product interest rate reduction adjustment has also been carried out.

The interest rate of wealth management products for 1-36 months has been reduced by 0.5%-2%.

A small number of users have expressed dissatisfaction with this, but the majority of users are still very supportive.

After all, Yimin Netfinance has been successfully listed, and the market value is as high as five or six billion US dollars, such a large company, they can invest at ease, although it is heartbreaking to lose one or two points of interest, but the investment security has undoubtedly reached a big step.

In terms of risk control, Yimin Netfinance has fully accessed Mung Bean Credit, and the big data credit of hundreds of millions of users can be cross-compared, which greatly reduces the overdue rate.

"You're too humble!" Zhang Yida said with a smile, "Although Ruixiang has provided some help to Yimin Netfinance, it is just a normal business dealing." ”

"Don't worry too much about it. Zhang Yida got up and patted Fan Hongyang's shoulder, "Look at it, Goldman Sachs will regret it sooner or later." ”

"I'm actually okay, and my annual salary and bonuses are enough, so whether I cash out or not doesn't have much impact on me. ”

Fan Hongyang smiled bitterly and said: "It is mainly the middle level of the company, seeing that the company is listed, and the ban period has passed, and the shares cannot be cashed out."

Especially now that the stock price has plummeted by nearly 20%, there is some anxiety. ”

"That's it!" Zhang Yida thought for a while, and said: "If they want to cash out, don't stop it, entrust it to the brokerage to help them sell it!"

"Isn't that going to kill them?" Fan Hongyang said with a smile, "At the beginning, the exercise cost of 1 share was only a few dollars, even if the stock price is only in the early 20s, they have made several times more!"

"The company has been developing for more than two years now, and it is time to give an explanation to the key employees who joined the company earlier. ”

Fan Hongyang nodded: "Okay! I'll arrange it!"

......

When Fan Hongyang informed the company's middle management and key employees of the good news, the employees who had been tossed a little listless by the recent plummeting stock price were all like chicken blood.

The exercise period of Yimin Wangjin's options is divided into three years and five years, and you can get the right to "buy the equity shares allocated by the company at a lower price" every year!

The reason why it is set up is also for the purpose of binding employees.

More than half of the options of the employees who joined early have already been unlocked, and everyone has the right to buy tens of thousands, hundreds of thousands of common shares in the option pool at a low price.

The conversion from ordinary shares to ADS is 5 to 1. At this point, Zhang Yida is more kind-hearted and does not pit employees.

Some listed companies, such as a certain cool, exchanged 18 shares of common stock for 1 share of ADS, which greatly pitted employees.

All ADS are circulating in U.S. stocks, and stock prices are also measured in ADS.

In some companies, employees exercise options in exchange for 120,000 common shares, which are converted into ADSs for only 10,000 or a few thousand shares.

In addition, according to the U.S. tax law, the longer the beneficiary holds the stock, the greater the tax benefits can be enjoyed.

If the stock is held for 12~18 months, the tax rate is 28%, the tax rate is 20% for more than 18 months, and the option income will be paid as ordinary income tax for less than 12 months, with a maximum tax rate of 39.6%.

Therefore, the value of an employee's option is equal to: the difference between the value of a single share and the exercise cost, multiplied by the number of shares, and finally deducted from taxes.

Yimin Wangjin, that is quite kind, the early exercise cost is 1 US dollar, and the company later increased its capital and shares, the total number of common shares has increased, and the exercise cost has not risen much, and the recent exercise cost is only 4 US dollars.

For employees who exercise their options early, the exercise of 1 share at 1 US dollar is the most profitable.

Those who join the company later are two or three dollars a share, and some earn money.

Recently, I joined the company for a short time, 4 US dollars a share, 5 common shares for 1 ADS, compared to the stock price in the early 20s, I don't make much money, and I will lose money......

Take Lu Zheng, a risk control model technician, as an example, he joined the company at the end of 2013, although he did not serve as a manager, but he was a key employee with superb skills, and he has obtained a total of 250,000 options in recent years.

Among them, 100,000 shares were granted to him at the end of 13 years for participating in the research and development of the company's Eagle Eye risk control system, with an exercise period of 3 years.

The other 150,000 shares were discovered by Fan Hongyang in 14 years when he discovered a small loophole in the Eagle Eye risk control system and gave a solution, which saved tens of millions of losses for the company. The exercise period is 5 years.

In '14 and '15, he unlocked 30% of the 100,000 options for the first award, respectively, and obtained the right to purchase 60,000 shares of common stock at an exercise cost of $60,000 after the company went public;

In '15, he also unlocked a second tranche of 200,000 shares with a 20% award and the right to purchase 40,000 shares of common stock at an exercise cost of $100,000 after the company went public.

This year's options have not yet been unlocked, and they are the last 40% of 100,000 shares and 20% of 200,000 shares, respectively, and we will have to wait a few more months.

Lu Zheng walked out of the conference room with an excited face, and the department manager had just informed him of good news.

He was able to exercise his options and purchase 100,000 common shares in the company's option pool at a cost of $160,000.

Just now, a colleague from the finance department explained to a group of apes including a group of apes about the "conversion ratio of common shares to ADS".

Lu Zheng secretly calculated that he bought 100,000 ordinary shares of the company for $160,000, which is equivalent to 20,000 shares of ADS.

At the current share price, it is worth $442,000.

Subtracting the $160,000 exercise cost, he would have made a profit of $282,000.

No, there is an additional 39.6% U.S. non-resident personal income tax. Every time he thought of this, Lu Zheng's heart was dripping blood, and Tai Nima was ruthless.

He calculated that he would have to pay $111,672 in taxes!

He has never paid so many taxes to his country, so why should he pay to the Americans?

His financial colleagues told him: No way, if the company is listed in the United States, it has to be like this! If he has an investment or a green card in the United States, there may be some room for maneuver.

Lu Zheng was still a little worried that he couldn't afford to exercise the $160,000, but his financial colleagues told him: entrust Goldman Sachs with full authority to operate, lend you money to exercise the rights first, and then take out part of the money from the sale of shares and return it to Goldman Sachs, and the rest belongs to you personally.

This greatly solved Lu Zheng's worries.

Lu Zheng chose to exercise his rights and entrusted Goldman Sachs to help him sell all the shares he obtained.

After deducting the exercise cost and taxes, Lu Zheng received 1.1156 million yuan, equivalent to about 170,000 US dollars, a few days later.

And that's not all, Lu Zheng still has to pay 20% personal income tax to China.

The only good news is that the $110,000 paid in the U.S. is exempt from taxable income.

In the end, there were only more than 800,000 in Lu Zheng's hands.

However, Lu Zheng is still very happy, plus the more than 300,000 he has saved in recent years, he can make a down payment in the capital.