As a businessman, Zhang Yida naturally thinks about maximizing profits.

But Li Bing, Shen Beipeng, and Zhang Sanshi all talked about this, and it was definitely not good to refuse coldly.

Especially Li Bing, who has been fooling himself into investing since 15 years, but he has rejected the other party every time.

This time I rejected the other party, what if I don't come to me in the future

Therefore, it is necessary to invest a little to maintain the relationship, and by the way, test the penguin's reaction.

"How much coupon rate is the convertible bond ready to be issued, the price at which the debt is converted into the company's Class A ordinary shares"

After Zhang Yida made up his mind, he began to ask about the conditions for issuing bonds.

Li Bing's spirit came all of a sudden, and he didn't have much hope for this trip.

But Zhang Yida can be said to have given him a big surprise

Li Bing hurriedly reported his conditions, "We are ready to issue a long-term convertible bond of 51 billion US dollars, with a coupon rate of 2 and a maturity of three years.

Prior to the maturity of the bonds, bondholders are entitled to be converted into shares of the Company's Class A common stock, in part or in part, at a price of $35 ADS. ”

After speaking, Li Bing looked at Zhang Yida with a smile.

Zhang Yida touched the back of his head, this appetite is a bit big

"Three years is a bit long, so it's better to change it to one year. ”

Li Bing shook his head with a smile, "If it is a short-term bond, if it is not converted into shares at that time, the pressure to repay the debt will be too great." ”

Zhang Yida nodded, convertible bonds are very interesting, if the company develops smoothly and the stock price rises, bondholders will generally choose to convert into shares, which is equivalent to changing from a borrower to a shareholder of the company.

If the development is not as expected, and the current stock price is much lower than the debt-to-equity conversion price, then I'm sorry, I can only ask you to pay back.

Zhang Yida thought for a while and said: "Why don't you issue an additional short-term bond, or issue additional shares, I will subscribe for 100 million." ”

As soon as he heard this number, Li Bing was always a little unrefreshed, and Shen Beipeng and Zhang Sanshi also felt that it was a little little.

It's just a small goal, is that like a word?

"Yida, you have subscribed to Tesla for more than 2.2 billion US dollars, and this blue side has only subscribed so much, which is a bit inconsistent with your identity."

As soon as Zhang Sanshi's voice fell, Shen Beipeng also shouted: "Yes, why should you account for ten or eight point stocks, it's too few, and the hedging effect has not worked at all." ”

Zhang Yida blocked a sentence, "Funds are tight, if you issue bonds or additional shares later, I will subscribe again."

"That's okay, then thank you to Senior Brother Yida. ”

Although Li Bing also felt a little less in his heart, he was not good at entanglement anymore when people said that this was it.

$100 million is $100 million, and it's better than nothing.

As long as Zhang Yida gets on his big ship, hum, it will be difficult to get off the boat.

Not two days after Li Bing and his party left, Huang Xin came with Li Xiang again.

It's over, it's over

Zhang Yida knew that he was a sweet spot in the eyes of the new car-making forces, and everyone wanted to come to make a difference.

"Mr. Zhang, hello"

Li Xiang shook hands with Zhang Yida with a smile, he was not very familiar with Zhang Yida, so he could only ask Huang Xin to introduce him.

Looking at this young man who was only in his early twenties, and the terrifying value of the other party, Li Xiang felt a little envious in his heart.

If you have so much money, you don't have to be so difficult to build a car.

Li Xiang is the founder of Bubble.com and Autohome, and later sold Autohome to Anping Insurance, founded Chehejia in 15 years, started three ventures, and is also a well-known serial successful entrepreneur.

Chehejia is also a new energy electric vehicle, and now it has been renamed Li Auto, which is homophonic to Li Xiang's name.

Zhang Yida knew the identity of the other party very well, so he basically guessed that he was here to attract investment.

Huang Xin said directly, "I heard that you have continuously invested in Tesla and Weilan, which is to make a heavy bet on the new energy vehicle track."

How about it, are you interested in investing in the B round of Li Auto, or co-investing in the C round. ”

Zhang Yida smiled: "Why do you know it all at once?"

Huang Xin took a sip of coffee on the coffee table, and said slowly: "How high-profile you are, now the people of the country know that you are laying out electric vehicles."

Even the stock prices of Azure Auto and Tesla have risen a lot, and it has become much easier for the entire industry to raise funds and issue bonds. ”

Zhang Yida laughed, chatting with Huang Xin was not too restrained, the competition between the two companies was not big, except for the fresh track, there was almost no collision.

"It's all nonsense, and I'm just going to cast it"

Zhang Yida accosted him, and at the same time greeted Li Xiang, who was sitting next to him and laughed without speaking: "Mr. Li, you're welcome, drink coffee"

Li Xiang replied with a smile, "Okay"

He hasn't cut to the point, and it's not good for him to come up and promote the company.

But he is not in a hurry, Huang Xin patted his chest with him, and he must pry some money from Zhang Yida, a local tyrant.

"Li Auto's first medium and large range extender SUV, the Ideal ONE, was officially launched last month, with a price of 32.8 million yuan after subsidies. ”

Huang Xin finally got down to business and asked Zhang Yida: "What do you think is the way to compete with Tesla and Azure at this price?"

Zhang Yida didn't answer this question, and asked Li Xiang, who was sitting next to him: "I heard that the ideal main selling point is the range extender."

Li Xiang nodded, "Yes, at present, it will take a long time for new energy vehicles to be popularized, and the weak endurance of electric vehicles is a very big pain point."

And the charging pile is not popular enough, I think the range extender mode will definitely impress a large number of car buyers. ”

The so-called range extender, in layman's terms, is based on a pure electric vehicle, equipped with a small auxiliary generator set to charge it when the battery is low, this small auxiliary generator set is called "range extender".

In fact, to put it bluntly, it is equivalent to adding a mobile power bank.

The advantage is that it can be used as a pure electric vehicle in a convenient charging environment, without refueling, and the use cost is low.

And it has all the characteristics of electric vehicles, such as quiet driving and fast speed.

Compared with pure electric vehicles, because there is an engine for charging, in the case of not being able to charge through the charging pile, energy can be obtained through the "range extender", which means that as long as there is a gas station, this type of vehicle can always drive.

In addition, extended-range electric vehicles do not require too large capacity batteries, and the cost can be controlled.

Of course, there are no ten perfect things in the world, and there must be advantages and disadvantages.

Since the engine and generator do not directly drive the wheels, there is a waste of energy, such as high fuel consumption.

Zhang Yida always feels that this model can only be a transitional product, once the car battery in energy storage, volume reduction has made breakthroughs, pure electric will definitely beat these gasoline-electric hybrids, plug-in hybrids, and this extended range electric vehicle.

However, there is no hope for this at the moment, otherwise many automakers would not be stupid enough to develop these outdated technologies.

It seems that the spring of pure electric is coming, but it is also possible to die on a winter night before the spring comes.

Because Li Auto was established in 2015, a year late, it is very difficult to raise funds in the early stage, so it has been desperately trying to save costs, the purpose is to survive first.

In this capital-intensive, technology-intensive industry, the war is really still a bit cruel, one or two hundred billion smashed into it, and the cars built still have various troublesome problems such as spontaneous combustion.

If the domestic car-making forces want to really usher in the harvest, it is estimated that they will have to endure for two or three years.

Zhang Yida thought for a while and said, "That's it, let's invest $100 million in Series B first."

Huang Xin looked at Zhang Yida with disgust and said, "Do you want to do this, take out your courage to invest in Tesla?"

Zhang Yida really can't show so much courage, Tesla has been established for more than ten years, and it has been listed for almost ten years, and it made a profit for two quarters last year, but it is still a loss after the year.

However, in general, according to this sales volume, Tesla has basically reached the breakeven line, and the prospects are much brighter than China's new car forces.

With so many new car-making forces in China, it shouldn't be a big problem for one or two to survive, but I don't know who can "keep the rest king".

Li Xiang didn't expect Zhang Yida to look up to Li Auto and himself so much, and directly compared the treatment of Azure and invested 100 million US dollars.

Li Xiang is also an early investor in Azure Automobile, and it was very cool to see Li Bing start a business, so he came to build a car.

Although the loss of Weilan is exaggerated, it is stronger than ideal in terms of brand awareness and sales, and ranks first among China's new car manufacturers.

Li Xiang was very aware of these situations, so he was busy and smiled and thanked Zhang Yida.

Huang Xin is also just talking, and Zhang Yida's investment of 100 million US dollars is beyond his expectations, so he didn't continue to ridicule.

This investment, like Teal, is also invested through Yanhuang Investment.

Li Auto's pre-investment valuation is 2.4 billion US dollars, and Yanhuang Investment invests 100 million US dollars, which can take 4 shares.

This shareholding ratio is a little higher than that of Azure Automobile, which will probably hold about 3 shares after the convertible bond is converted into equity.

took 100 million US dollars to send away Huang Xin and Li Xiang, and Zhang Ying, GGV Tong Shijie, Zhang Sanshi, and Lei Jun from Jingweiqiu brought He Xiaopeng to turn their fate again.

He Xiaopeng is the co-founder of UC Browser, who was later acquired and joined Ahri, and is now the founder and CEO of Xiaopeng Motors, worth more than 20 billion yuan.

There are also a series of star shareholders standing behind Xiaopeng Motors, including Ahri, Gaoling Capital, Rice Group, CICC, etc., and the shareholder team is slightly inferior to Weilan and stronger than Li Auto.

Zhang Yida also didn't expect the Ahri people to come to him for financing.

After communicating with He Xiaopeng, Zhang Yida took out another 100 million US dollars and won 278 shares of Xiaopeng Motors, with a post-investment valuation of 3.6 billion US dollars.

Then, Byton, Leapmotor, Bojun Automobile, and Sailin Motors, who rushed to hear the news, were not so lucky.

Zhang Yida stopped buying the track and closed the door to investment.

This has made many entrepreneurs of new car manufacturers go home

They thought that the richest man would come to the sun this time and invest in him in ten or eight companies.

As it turned out, they did overthink.

After careful analysis, Zhang Yida and his team believe that the three companies they invested in have a high probability of success.

Li Auto is actually a little worse, but Huang Xin also gave Zhang Yida a bottom, and will pledge his magnesium group shares to invest 300 million US dollars in Li Auto, and will add it in the future depending on the situation.

The real intention is to enter unmanned driving through Li Auto, and launch "unmanned delivery" and other businesses in the future.

There is also a WM Motor, Zhang Yida and his team are also more optimistic, it is a thousand-degree system, and Penguin and Black Shirt Capital also invest.

The current market pattern is like this, and top venture capital and Internet companies are investing in the track.

Just betting on a company is not very stable and easy to overturn