The most important thing in stock trading is how many chips you can bring into the market.

For people like Xu Yiyang, who know the direction of the market, he is like a fisherman who knows where the fish appear, and if he wants to get the most benefits, he must make a large enough net before the fish appear.

Otherwise, even if you find thousands of fish, the net is too small and you can only catch a few.

Looking at it this way, in the final carnival before the collapse of the U.S. stock bubble, $4 million is really too little.

40 million dollars, barely enough to see;

More than $400 million can really make a big profit.

However, Xu Yiyang now has $4 million in his hand, and the rest of the renminbi cannot be brought into the U.S. stock market, and it is quite troublesome to exchange the renminbi for dollars.

Just when Xu Yiyang didn't know where to get enough chips, he suddenly thought of someone.

Li Zekai.

The second son of the Li family has money in his hands, if only he could turn over some money from his hands, invest it in the U.S. stock market, and catch a wave of Nvidia's market.

However, I can't sell Tengxun shares to him to speculate in stocks?

Isn't that a loser?

Thinking of this, Xu Yiyang was suddenly inspired, and it happened that the second son of the Li family wanted to invite him to dinner, so he suddenly had a plan in his heart.

……

After class in the afternoon, Xu Yiyang did not go to the cafeteria with everyone to eat, but went directly out of the school gate.

Li Zekai's Rolls-Royce team arrived at the port gate one step ahead of him.

Xu Yiyang sat in the back row of his Rolls-Royce, and Li Zekai said with a smile: "Mr. Xu, today I will bring you the best Hong Kong-style restaurant in the world, and you will definitely not find such an authentic one in the mainland and abroad." ”

Xu Yiyang nodded and said with a smile: "Then thank you Gongzi Li for your hospitality." ”

In a luxurious Hong Kong-style restaurant, Xu Yiyang and Li Zekai sit in front of a floor-to-ceiling window facing Victoria Harbour.

In the huge box, only two people faced each other.

In front of you is the most popular top seafood ingredient in Hong Kong.

The eye is full of rare abalone, shark fin, fish maw, bird's nest, yellow-lipped fish, grouper, and other expensive things.

Li Zekai did not talk about business at the beginning, but first explained it, telling Xu Yiyang the origin of various ingredients and his status in the Hong Kong catering industry.

Xu Yiyang listened to it with a match, and waited in his heart for when he would get to the point.

The current situation is like this, Li Zekai is carrying a lock sleeve in his pocket, waiting to put Xu Yiyang in, Xu Yiyang is carrying a shovel in his pocket, waiting to bring Li Zekai into the pit.

And on the whole, Xu Yiyang is more dominant, after all, he belongs to the hexagram where the enemy is bright and I am dark.

After eating a lot of food, Li Zekai wiped his mouth, and finally got to the point.

He smiled and said: "Mr. Xu is young, he has the vision to invest in Tengxun, and he can also help Tengxun turn losses into profits, this ability, I really admire this ability." ”

Xu Yiyang knew that business was coming.

So he laughed and said, "Mr. Li, I won't tell you anything, investing in Tengxun and helping Tengxun make money are all out of a fun-loving heart." ”

Li Zekai asked curiously: "How do you say this?"

Xu Yiyang said: "You see, I was originally a user of Tengxun, and I often use Tengxun to chat with friends, or add some strange netizens to chat, chatting and chatting, I think this software is very interesting, and more and more people will like this software in the future, so I have an interest in investing in it." ”

Speaking, Xu Yiyang said: "As for the mobile QQ business, it is mainly because I feel that I have this need, and I also want to chat with netizens when I can't be in front of the computer, but I can't solve the problem of carrying the computer with me to surf the Internet, so I thought of the mobile phone, if I can use the mobile phone text message to chat with QQ friends, how good would it be? It just so happened that one of my uncles was an executive of China Overseas Telecom, so I talked to him and Boss Ma about this business, and everyone felt that there was something to do, so they started to do it." ”

Li Zekai nodded and said with a smile: "In this way, playing is also a big motivation to make money." ”

After a slight pause, Li Zekai said again: "In fact, I personally estimate that Tengxun has great market potential in the future, coupled with the current Internet popularity, you see, these Internet companies that can't make money have a high market value, and Internet companies like Tengxun that can make money will have a higher market value once they are listed." ”

Xu Yiyang agreed and said: "It makes sense, I think so too." ”

Li Zekai continued: "Therefore, now is the stage of rapid development of VINE, which not only requires a large amount of capital injection, but also needs a stronger capital relationship to ensure that TENXUN can be successfully listed in Hong Kong in the future." ”

"And the new listed company, more need a strong old listed company to endorse, when the time, my Pacific Century Digital integrated Hong Kong Telecom, the market value of at least tens of billions of dollars, to the endorsement of the vine news, will make the vine more favored by the capital!"

Xu Yiyang said: "Li Gongzi is right. ”

Li Zekai continued at this time: "Therefore, I hope to be able to successfully invest in Tengxun, I, you, and Mr. Ma, the three of us perform our duties and work together to create a better future!"

Xu Yiyang asked: "Mr. Li, how much valuation are you willing to pay for financing?"

Li Zekai said: "Two billion yuan, or the equivalent of dollars. ”

Xu Yiyang said: "That's more than 240 million US dollars, right?" ”

"Yes. Li Zekai nodded, said: "My ideal financing ratio is to hold 20% to 30% of Tengxun, I heard that 15% of your shares are locked, then now the shareholding ratio between you and the Ma team is 40:45, which is converted to 47:53, if the financing ratio is 20%, then your actual dilution points, Mr. Xu is about 9.4%, and the Ma team is 10.6%, for both of you, the diluted points are not much." ”

Xu Yiyang smiled slightly and said: "Sacrificing a little stake is nothing, but to be honest, I think the valuation of more than 240 million US dollars is too little." ”

Li Zekai said in surprise: "240 million US dollars is already very high, NetEase will soon be listed on the NASDAQ, but judging from their proposed issue price, it is estimated that the market value after listing will be around 600 million US dollars." ”

Xu Yiyang said seriously: "Li Gongzi also said just now, many Internet companies are losing money, NetEase's financial report last year, I just read it a few days ago, the annual revenue is only 1.88 million US dollars, which is 156 million yuan, as for the net profit at all, but a loss of 6.27 million US dollars, equivalent to more than 50 million yuan." ”

Saying that, Xu Yiyang said: "It is precisely because of the loss that NetEase has to go public now, even if the valuation is lower than expected, it will be on the market, and if it is not listed, it will be finished if the company continues to lose so much." ”

At this point, Xu Yiyang glanced at Li Zekai and said with a smile: "This kind of operation, in my eyes, is called bleeding listing, and its performance and development potential are far worse than Tengxun." ”

To use a more vivid metaphor to describe the bleeding listing, the company can be compared to a pig farm, and the company's shares are the pigs raised by the pig farm itself;

If the company raises 10,000 pigs, but the pork market on the market is very poor, only five yuan a catty, even if he knows that the price of pork can rise to 50 yuan a catty until next year, but he has no money in his hand, he can't afford to buy feed, and if he doesn't sell a batch of pigs in his hand, once the feed is not available, 10,000 pigs will die;

At this time, the primary capital market, that is, investors and investment institutions, are not optimistic about the market of pork, so they are unwilling to invest in pig farms, which makes the owners of pig farms worse;

In order to survive, the owner of the pig farm can only pick out 1,500 to 2,000 pigs from 10,000 pigs, and sell them to consumers on the secondary market at a price of five yuan a pound or even lower at this stage, and exchange part of the money back, so that the company's remaining 8,000 to 8,500 pigs can thrive and persist until the market rises.

Once the market rises, the price of pork will return to ten or twenty yuan, and the remaining 8,000 to 8,500 pigs will be able to bring a lot of profits.

This is equivalent to the company taking 15 to 20% of the shares, conducting an IPO, and then turning the shares into issued shares at a very low price, in exchange for funds to continue to keep the company running.

If you don't bleed, you die, and no one can do it.

Li Zekai was slightly surprised in his heart.

Unexpectedly, Xu Yiyang is young and has a very good understanding of the current situation in the capital market.

Even NetEase's financial report data can be memorized!

It seems that he really has a very in-depth study of the Internet, and he is not stunned.

However, he didn't want Xu Yiyang to have the mentality that Tengxun was better than other companies.

Because in this way, it will inevitably increase the cost of getting on the car yourself.

So, he said with a smile: "Mr. Xu, NetEase is actually not a bloody listing, the valuation they got from their IPO is already very good in my opinion, and their business is larger than that of Tengxun, and there are more portal and email users than Tengxun, and it is normal for the valuation to be higher than that of Tengxun, so I give Tengxun a valuation of 240 million US dollars, which is actually quite reasonable." ”

Xu Yiyang shook his head and said: "The net profit of Tengxun's mobile QQ business in January is more than 10 million; it is expected to be more than 15 million in February, and more than 30 million yuan in March, and I expect it to be at least 300 million yuan or more for the whole year.

"Look at NetEase again, if you can't find a stable and profitable business, this company will be yellow, so, compared to NetEase, Tengxun is not bad at all, and I even think it is a head higher. ”

Speaking of this, Xu Yiyang said again: "That's it, Li Gongzi, we can talk about financing without hurry, you give Tengxun half a year, and in July and August this year, you can see how much Tengxun's profits can be, at that time, you should have a clearer understanding of the valuation of Tengxun." ”

Li Zekai had a headache.

The value of Tengxun, needless to say by Xu Yiyang, he himself has seen some clues through the current profitability of Tengxun, so he also knows that Tengxun has great potential in the future.

However, I can't say this myself, as soon as I say it, it will raise Xu Yiyang's psychological price again.

Moreover, Xu Yiyang made it clear that he was unwilling to sell, or that he was not interested in the valuation of $240 million.

However, the valuation of $240 million is already a bit high, and it stands to reason that investing in a company requires at least a year's continuous observation of its revenue performance to give a more reasonable and clear valuation.

But the problem is that the development potential of Tengxun is too great now, and anyone can see that this company will soar to the sky, and if you still want to use a conservative valuation at this time, people will ignore you at all.

If a company is short of money, investors will naturally take this opportunity to desperately lower the price, something worth 10,000 yuan, and they can't wait to open a thousand, love it or not;

However, the reverse is also the same.

If a company is not short of money, investors will chase after each other's buttocks, begging for investment, in this case, something worth 10,000 yuan, eager to give 50,000;

Now this is the case of Tengxun, its business has driven the stock price of Telecom to rise by eight points in one day, which shows the development potential of this company.

Moreover, it has already started to make money, and it has made a lot of money since it came up, and it will naturally make more and more money in the future.

The relationship with telecom is very good, its own users are developing rapidly, telecom's mobile phone users are also developing rapidly, and the inevitable result of the common growth of both sides is that both sides will usher in a period of rapid growth, and the future is unlimited.

So in Li Zekai's view, at this time, even if the premium is higher, you must get on the car as soon as possible, otherwise it is estimated that you will not be able to get on it in half a year.

But the only question now is, how much is Xu Yiyang's appetite?

Thinking of this, he asked Xu Yiyang: "Mr. Xu thinks that if you raise money, how much valuation can you be satisfied with?"

Xu Yiyang smiled indifferently and said, "If you want me to say, at least 500 million US dollars!"