"Welcome all leaders to visit Ruixiang to guide the work. ”

In the conference room, Zhang Yida shook hands with the leaders of the banking department and the insurance department one by one.

"Mr. Zhang, don't be so polite. This time I came to Rui, but I came to make a fortune with you, an entrepreneurial genius.

You need to take care of it!"

It was the CEO of the Investment Department of the China Development Bank who spoke, and although he had his back to the big tree, he did not put on any official authority.

China Development Bank (CDB) is a policy bank with a registered capital of more than RMB 400 billion and assets under management of more than RMB 12 trillion......

"Whereever, I'm just making a little fuss. Zhang Yida said modestly, everyone here is a big man, not only in large banks and insurance institutions, but also in the administrative establishment.

"Then Mr. Zhang will introduce us to Ruixiang Group! You and Leech Financial Services are the most powerful financial technology companies in the past two years!

What high-tech products are displayed to us, but also let us open our eyes. ”

The one who spoke was the CEO of the investment department of CICC, an elegant middle-aged man wearing glasses.

The listing of Yimin Netfinance took care of the business of CICC Securities, and they reciprocated by participating in the D round of financing negotiations of Ruixiang Group.

"I know Ruixiang Group's Mobao Payment, your mobile payment business is very well promoted. When you buy a bottle of water on the street, you can scan the QR code to pay, which is really convenient. ”

The general manager of the investment department of China Pacific Insurance said.

"Haha, is it? Mobao Pay has been increasing its promotion efforts this year, and now there are more than 100 million active trading users. ”

Zhang Yida said to the CEO of Pacific Insurance with a smile, his hands were not idle, he quickly opened the projector in the conference room, put the introduction PPT out, and began to introduce:

Founded in October 2013, Ruixiang Fintech Group currently has 3,528 employees, 65% of whom are scientific research and technical personnel......

The whole group has five business divisions, involving payment, financial supermarket, finance, consumer finance, wealth management, personal big data credit, financial technology ToB output...... and many other products and services.

The total number of registered users in China exceeds 350 million, and it has achieved the first place in the industry in many fields......

Abroad, Ruixiang established Grab.Pay as a joint venture with Grab, a leading Internet company in Singapore, holding a 49% stake in the joint venture......

R.Pay was established as a joint venture with three well-known Internet companies including GoJek in Indonesia, holding 51% of the shares of the joint venture......

Several mobile payment companies in South Korea and India are also negotiating with each other, and the next step will be in the two local areas, or joint ventures, or acquisitions, to establish two mobile payment companies based on the local market......

In addition, Ruixiang has also invested in dozens of domestic and overseas Internet companies, most of which have entered the next round of financing......

The book return on investment has exceeded $1 billion......"

In just two years, Ruixiang Group has made such great achievements.

I also did the business overseas and promoted the prestige of my country!"

After listening to Zhang Yida's introduction, the general manager of Bank of China Capital took the lead in praising it.

"We are also responding to the call of the Belt and Road Initiative, going abroad and overseas, so that the world can see the scientific and technological capabilities of our Chinese enterprises. ”

Zhang Yida knew that all the leaders here liked to listen to this, so he said it nicely.

"Yes, keep up with the times, Mr. Zhang's vision is very good!"

The general manager of ICBC Capital gave Zhang Yida a thumbs up and praised him.

"Ruixiang is a good investment target, Mr. Zhang, let's talk about valuation!"

The boss of CCB International was quick to talk and inquired directly.

Zhang Yida took a deep breath and said, "$25.2 billion before investment!"

This price code startled the general manager of ABC Investment, who had not spoken, and said:

"How much? 25.2 billion US dollars? too expensive, isn't it?"

Several other CEOs also nodded and said:

"Mr. Zhang, the last round of financing was only $10 billion! This is less than a year, and it has more than doubled!"

"Yes! Ruixiang has only been established for two years! With a valuation of $25.2 billion, the bubble is too big. ”

"The assets we manage belong to the party and the people, and we must be held accountable to the party and the people. Mr. Zhang, you can't make a random offer!"

"That is, Mr. Zhang, we are not those foreign venture capitalists. Let's pay attention to something tangible. ”

Zhang Yida knew that they were reacting, smiled, and said:

"After Ruixiang Group excludes the four cutting-edge technologies of Mobao payment, AI, big data, blockchain and cloud computing, the net profit in 14 years is 4.7 billion yuan.

According to 30 times PE, the valuation of this part of the business can reach 141 billion yuan, which is converted into US dollars and 23 billion US dollars.

We have invested in R&D just to invest in the four cutting-edge technologies, and we have smashed in billions of dollars, and the valuation will not be less than 2 billion US dollars.

Another is the magic treasure payment, our volume is almost one-sixth of the payment shell.

The valuation of Leech Financial Services is more than 50 billion US dollars, and two-thirds of it is counted in the head of Paybei, that is, 33.3 billion US dollars.

Mobao Pay is valued at $5.5 billion, which is not an exaggeration!

Ruixiang Industrial Investment Fund also holds equity interests in dozens of Internet companies, worth more than $2 billion. Among them, the part that belongs to Ruixiang's capital contribution and dividends adds up to more than 1 billion US dollars.

In all of them, Ruixiang should add up to a valuation of $31.5 billion. ”

Zhang Yida looked at the faces of the CEOs, some were surprised, some were suspicious, some were happy, and their reactions were different. Then he said:

"I also wanted to contribute to the country, so I discounted the valuation by 20%, from $31.5 billion to $25.2 billion.

This kind of concession is not available to everyone.

Ruixiang's goal in the future is to become a fintech company with a valuation of 100 billion US dollars and become a financial technology company that attracts the attention of the world. ”

Zhang Yida's slogan was shouted very loudly, and everyone didn't answer, how could he not understand Zhang Yida's intentions.

He and others represent the four major banks of the Workers' and Peasants' China Construction Bank, plus the China Development Bank, as well as the CPIC Insurance.

With these 6 companies taking shares, it is absolutely like a fish in water to endorse Ruixiang and develop its domestic business in the future.

What to contribute to the country!

As for Ruixiang's goal of 100 billion US dollars, considering the various miracles founded by Zhang Yida in the past two years, it is still very likely to be achieved.

A college student, in two years, has completed a breakthrough from 0 to 10 billion US dollars.

It seems that there is also such a genius in the United States, named Zuckerberg, who has turned a social software upside down, and now the valuation is hundreds of billions of dollars.

Our country has a large population, more than 3 times more than the United States, and it is normal to have such a genius!

Ahri, Penguin is not also hundreds of billions of dollars, Ruixiang's Mobao payment actually withstood the pressure of these two giants, and the market share of payment has risen instead of falling.

In the future, there is still a slight possibility, although it is unlikely, to reach or even surpass these two giants.

"The price-earnings ratio of 30 times is a bit too high! Financial stocks, like our big four banks, are only five or six times. ”

The general manager of Bank of China Capital retorted.

"Yes, our ICBC has been listed for so many years, and the price-earnings ratio has hardly exceeded 10 times.

30 times, ridiculous. ”

According to this valuation, Ruixiang is about to catch up with our CCB. ”

"CEOs, we are not a traditional financial institution. We are Internet finance, how can the valuation be compared with traditional enterprises?

Benchmarking penguins, Ahri, 30 times PE, it couldn't be more normal. ”

Zhang Yida argued that he really wanted to attract these companies into shares.

In the previous life, Leech Financial Service was so good, and it was not that China Development Bank and the four major insurance companies entered the market.

China is a humane society, and there are people in the DPRK and China who are easy to do.

"At most 15 times the valuation, the basic business valuates you at $11.5 billion, and if you count the other businesses, it adds up to a valuation of $20 billion.

As for the 20% discount, we don't want you either. The state does not take advantage of you. ”

The general manager of ABC Investment is also a ruthless person, and he cut $5.2 billion with one knife.

"According to this valuation method, Temasek, Black Shirt Capital, I can't explain these foreign shareholders!"

Zhang Yida began to move foreign capital to act as a shield, but seriously, according to 15 times PE financing, foreign capital will definitely find trouble.

Suspect that Zhang Yida is conveying benefits or something. If it doesn't work, just like Jack Ma, the international reputation is bad.

"Mr. Zhang, then you need to do communication work for foreign shareholders.

Our six major shareholders have invested in Ruixiang Group, in addition to capital, it will also bring a lot of resources.

Including our respective companies, we can further deepen cooperation with Ruixiang.

Sometimes, this resource is the most priceless. ”

The CEO of the China Development Bank has spoken, and in terms of rank, he is the highest among the people here, so several other major institutions are looking forward to him.

Zhang Yida knew what he meant, and he wanted to convert the resources into shares.

There is nothing wrong with that.

But Zhang Yida has already given more than 6 billion US dollars in concessions, and no matter how preferential it is, other shareholders can't explain it.

"The price is too low, and I have made so many concessions, which has been criticized by foreign shareholders.

If you make any more concessions, you won't be able to rub sand in the eyes of foreigners.

They will feel that their interests have been harmed, and they will make trouble internationally, and it will be troublesome for Ruixiang to follow up on financing.

All of Ruixiang's business layout should be carried out, especially overseas business, and it may also introduce sovereign wealth funds from many countries.

I can't cut off my path to the future for the sake of this round of financing. ”

Zhang Yida's tone was firm, and he no longer gave in to death.

Several CEOs looked at each other, and finally the CPIC boss came out and said:

"Let's add another $1 billion, and $21 billion is our bottom line. ”

"Ladies and gentlemen, let's do it, I'll sign a VAM agreement with you, and I'll bet on the valuation of the next round of financing.

If the next round of financing doesn't reach a valuation of $40 billion, I'll transfer a portion of my equity to you as compensation. ”

Zhang Yida knew that no matter how he fooled, he couldn't fool this group of bureaucrats.

For them, it doesn't particularly matter whether they invest in the direction or not.

What do they think? They don't seek merit, but they seek no fault.

If the investment is sharp, the valuation is high, and the investment is lost, but you have to be responsible and play the board.

In particular, the investment is not a small amount, starting from hundreds of millions of dollars.

With such a large amount, what kind of problems will it cause and affect the career!

"How long is the next round of financing? There is a time limit! It can't be three or five years!

There is also equity compensation, how to compensate for the law. Let's hear about it!"

The CEO of ABC Investment felt that Zhang Yida's idea was very good, and asked again.

"The next round of financing is limited to less than two years. Before reaching the pre-investment valuation of $40 billion, this round of financing was priced at $210.

How many shares are missing, the management of Ruixiang will compensate you. ”

Several CEOs didn't speak and began to measure.

With this plan, they feel that it is quite drought and flood to ensure the harvest, and they don't have to worry about taking risks and taking responsibility.

If Ruixiang is valued at more than $40 billion in two years, their annual return on investment will be more than two dozen points.

If it does not reach $40 billion, Ruixiang management will compensate them for equity and will not suffer losses.

As for the next round of valuation of less than $25 billion, conventional venture capital itself has a ratchet clause, and the valuation has dropped, and the management team is also required to compensate for equity.

Don't worry!