"I think we can deduct cutting-edge technology, AI, blockchain, big data, cloud computing, and Mobao payment.

As far as the basic market of Ruixiang Group is concerned, an annual net profit of 200 million US dollars, and a 30 times PE valuation of 6 billion US dollars is not much!

AI, blockchain, big data, and cloud computing are all key development directions in the future, and this part of the valuation of $1 billion is not too much!

Let's talk about Mobao payment, although it has lost more than a billion yuan this year, there is no premium for a 5% market share valuation of 2 billion US dollars!

The company is currently boasted to be valued at $45 billion, most of which is supported by the payment business, and payment income also accounts for the main source of income.

The valuation of Paybei at $30 billion is about the same number, and our market size is almost 1/15 of it, so we can get a valuation of $2 billion.

Ruixiang has also invested in two consumer installment companies, Miao Installment and Le Installment.

Miao Installment announced this month that it had completed a $100 million Series C financing round at a valuation of more than $500 million, and Ruixiang currently holds a 12.8% stake in it, worth more than $60 million.

The $100 million Series B financing round led by DST has also been negotiated and will be in place soon, with a valuation of more than $500 million, and Ruixiang holds a 32% stake in it, worth more than $160 million.

The two investments add up to $220 million, and with the Ruixiang Industry Win-Win Fund, I think the overall valuation of Ruixiang is no less than $9.32 billion. ”

Zhang Yida analyzed all the valuation systems of Ruixiang Group one by one.

Lin Zhenyang was a little stupid when he heard this, his face turned red, and he quietly leaned next to Zhang Yida and said:

"So according to your calculations, isn't my 6.67% stake worth more than $600 million?

I'm also a 4 billion brother?"

The stalk of Brother 4 billion is rumored to be valued at more than 1 billion yuan in the first half of the year, and Zhang Yida holds 60% of the shares and is worth more than 600 million US dollars, that is, 4 billion yuan, which was spread by everyone.

"No matter how high the value is, it is also rich on paper. Zhang Yida glanced at Lin Zhenyang, shook his head and smiled.

The other investors didn't speak, they were all reminiscing about what Zhang Yida had just said.

Is $9.32 billion overvalued? No.

Each business unit valuation is supported by data or references.

"With a valuation of more than $9 billion, can the penguins accept it?" Xu Xiaoming was also shocked and asked a little unconfidently.

"That's not good, anyway, I'll meet with them in two days, so let's participate too!"

Zhang Yidahun didn't care and said, this valuation is not overestimated, in the previous life, leech financial services 100 times PE, don't investors also pay for it? As long as there is a fast enough growth rate and a broad enough track, the story concept can be told.

Several other investors didn't speak, estimating that Ruixiang's growth rate was too fast, which frightened them. At this time, I am afraid that I don't want to cash out the shares.

"If we want to carry out Series C financing, Black Shirt Capital will follow, with a valuation of more than $9 billion, which we recognize. ”

Shen Beipeng spoke, and the high growth of Ruixiang made him frightened, and at the same time he was also very excited, this is a golden phoenix, and it must be firmly grasped.

"With a valuation of US$9.32 billion, Temasek agrees that if we want to raise Series C financing, we will continue to invest in it. ”

Li Hengbo said magnificently, this money is just a sprinkling of water for a national sovereign wealth management fund, and now the black shirt is followed by investment, and the giant penguins are also going to enter, so additional investment is necessary!

Other investors have also reacted and expressed their agreement with this valuation, and the C round of financing has to follow.

This makes Zhang Yida very passive, looking at this, he doesn't want to get off, so the old stocks can't be sold?

And all institutions choose to follow the investment, and the diluted shares are themselves and Lin Zhenyang......

After the meeting ended, Lin Zhenyang had been struggling there and didn't want to leave, Zhang Yida asked:

"What's the matter?"

"I want to ...... Cash out the shares!" Lin Zhenyang said with some embarrassment.

Zhang Yida thought it was a big deal, but it turned out to be such a bad thing, and laughed:

"Are you busy marrying a daughter-in-law or buying a luxury car? You can cash out some of it, but don't take too much. I'm afraid that you will regret it in the future. ”

"I have 6.67% of the shares, just a fraction, 0.67%. Lin Zhenyang's head shook like a rattle, he was not stupid, he naturally knew that Ruixiang's potential had not yet exploded.

As the president, he is very clear about Ruixiang's operation.

Mung Bean Credit, Hantai Fund, Investment Ronghui Wallet, IOU These businesses are making efforts, plus the already profitable business, in another year or two, Ruixiang's net profit will be maintained at least 500 million US dollars.

At that time, several cutting-edge technologies will almost have come to fruition, and Mobao Pay will have a 10% market share by then, and Ruixiang will be valued at least more than 20 billion US dollars.

Wait another year or two, and the shares in your hands may increase by one or two times.

But Lin Zhenyang can't wait, he is now in urgent need of money to improve his life.

"I'm getting married!" Lin Zhenyang confessed.

"Poof!" Zhang Yida was drinking water, but a mouthful of water squirted out, squeezed his eyebrows and said:

"Did you kill someone?"

Lin Zhenyang was a little shy, and stammered:

"Count...... Sort of!"

Seeing him like this, Zhang Yida laughed heartlessly, and said after a while:

"Okay, just think it through. I support your decision!"

Lin Zhenyang scratched his head and said:

"After all, I'm not alone, I have to think about my family.

Xiaomo chose me, a poor boy, without hesitation, and did not flinch in the face of family pressure.

This time, I must give her a big wedding!"

Zhang Yida nodded. Xiaomo knew him, and the same class as Lin Zhenyang was also a disciple of the big courtyard, and his relatives at home all worked in the ministry. The family background is very good!

In contrast, Lin Zhenyang's ordinary citizen families are a little out of the right place.

In their previous lives, there was a lot of resistance to their relationship.

It wasn't until Lin Zhenyang graduated and entered the investment bank and was promoted all the way to VP vice president that Xiaomo's parents slowly accepted him.

Anyway, in their previous lives, the two didn't get married until 2019. In this life, he can be regarded as changing Lin Zhenyang's fate! Let them achieve positive results in advance!

The merit is immeasurable!

also saved a small life, better than a seventh-level floating slaughter!

Zhang Yida said with a smile:

"Congratulations, Sister Mo, their family didn't put any pressure on you, did they?"

Lin Zhenyang shook his head and said, "No! Her parents have changed a lot of my senses now!"

Speaking of this, he patted Zhang Yida on the shoulder and said sincerely: "I still have to thank you! Otherwise, I don't even know if I can still be with Xiaomo now?"

"Why are you talking and sensational!" Zhang Yida looked at Lin Zhenyang with red eyes, he felt that Lin Zhenyang had suffered more difficulties before than he imagined!

......

"The pre-investment valuation is 9.32 billion US dollars!

Liu Zhiping slammed the document handed over by Ren Yu on the table and sneered.

"There's a bit of a bubble, but it's generally reliable. Ren Yu thought about it, but still felt that Ruixiang had great potential and was a good investment object, which should not be missed.

Liu Zhiping, born in 73, met Bonima when he was an executive director of Goldman Sachs Asia. Boniema appreciated his talent, gave him shares, and paid a high salary, and invited him to Penguin as president.

Now he can be regarded as the second-in-command below one person and above ten thousand people in Penguin's status.

It holds about 0.5% of Penguin's shares, with an annual salary of more than 200 million yuan (mostly equity awards). is worth more than 10 billion, which can be regarded as a working emperor.

Liu Zhiping is a very rational person, he just heard the offer of more than 9 billion US dollars, and his anger was only a matter of a moment.

Now that his mind is back to rationality, and considering that Ren Yu is also a very talented person, he will not let off empty cannons indiscriminately, saying that it is worth more than 9 billion US dollars, and most of them are targeted!

So Liu Zhiping looked at Ren Yu and said calmly:

"Let's talk about it!

Ren Yu thought for a moment and began to say:

"Ruixiang currently has nearly 200 million registered users, which can be said to be the second largest Internet financial traffic entrance after Leech Financial Services.

Their business layout is also very perfect, finance, bookkeeping, credit cards, loans, wealth management, funds, insurance, ...... It has basically achieved full financial coverage.

In cutting-edge technology, AI, blockchain, cloud computing, big data and other fields have also made great achievements.

The most important thing is mobile payment, they rank fourth with a market share of about 5%, behind Alibe, Lakala, and our Tenpay.

Lakala's main focus is still POS machines, and it is only a matter of time before Mobao pays to surpass them.

I judge that in the next 1-2 years, the industry will be a three-legged pattern.

Pay Bei first, we second, Mobao pay third.

Win them over, and the second and third will fight the first!"

"Then have you ever heard the story of the first and second fighting, fighting and fighting, and beating the third child to death. ”

Liu Zhiping looked at Ren Yu playfully, that's all, he couldn't convince him.

"Ruixiang Group, after deducting cutting-edge technology research and development expenses and mobile payment user subsidies, has a net profit of nearly 200 million US dollars. ”

Ren Yu thinks that Ruixiang's current valuation of $8 billion to $9 billion is more reasonable, and it is a high probability event that the future valuation reaches $20 billion.

Penguin Investment Frontier can not only subdue a potential strong enemy, but also unite with Ruixiang to jointly balance Leech Financial Services.

Even if it can't beat the leech financial service, Ruixiang will guard the slow development of the current industry, and there is no problem with this investment doubling or tripling in value in the next one or two years.

"Looking at what is written on the information, Ruixiang Group has only been established for a little more than a year, right? The founder Zhang Yida is not yet 20 years old?"

Liu Zhiping was slightly surprised when he heard Ren Yu say that Ruixiang had a net profit of nearly 200 million US dollars, and began to look through the information.

In his opinion, Ruixiang has a certain revenue and profit, which means that it is not all a bubble, even if it is not worth 9 billion US dollars, it should have a certain investment value. So I started researching the data.

"Yes, it was only established in October last year, and Zhang Yida is only 19 years old and still in his sophomore year. Ren Yu replied, and after answering, he stopped talking and waited quietly for Liu Zhiping's reply.

After reading for almost half an hour, Liu Zhiping raised his head, moved his gaze from the document to Ren Yu's face, and his mouth rose slightly:

"Interesting! I need to report back to Pony!"