The capital market has the most sensitive sense of smell, and the speed of the spread of gossip always exceeds expectations, when Zhao Guoping's instructions on the reform of the securities market were issued to the relevant departments, the Hong Kong Stock Exchange, which is far away on the coast of southern Xinjiang, received the news.

"Reform and opening up all the way to cross the river by feeling the stones, the easy roads have been involved, and what remains today are no man's land and hard bones. Therefore, we need to stay true to our original aspiration and continue to promote the reform process with more fearless courage and firmer determination.

In the face of the difficulties and challenges of unprecedented changes in a century, I will live up to the people without me!"

Zhao Guoping's words not long ago were very moving.

Some foreign scholars have conducted detailed research on Chinese history, trying to understand how this ancient oriental nation can stand for 5,000 years and maintain its heritage. You must know that ancient Egypt, ancient Rome, ancient Babylon and even ancient India have all been annihilated in the dust of history, and only the descendants of Yan and Huang in ancient China have inherited it to this day.

"At the most critical moment, there are always some elites of the Chinese nation who bravely stand up regardless of life and death, and they turn the country into danger and are called the backbone of the nation. It is precisely because of their sacrifices that the country and the ordinary people have been well protected that the Chinese civilization has survived to this day. ”

Foreign scholars said the above conclusions with envy on their faces, because they knew that the backbone of the Chinese nation had never been broken, and that after entering the 21 st century, it would form more and more closely integrated parts.

Han Hao did not sprinkle a large number of internal reference materials, but wrote a simple letter about his recent personal experience, and talked about the needs of building China's NASDAQ. Han Hao's original intention in writing the letter was not for himself, with his current status, even if the Hong Kong Stock Exchange rejected Volvo, he could immediately find a suitable listing place to make money. His actions are focused on the future of Industry 4.0 and speak for Chinese enterprises.

"Zhonghua Group is not only an enterprise of the Han family, but also an enterprise of the country. When wealth is just a number for people, it is time to do something meaningful to the country and the nation. ”

When his two sons were just sensible, Han Hao taught them in this way, and he did practice consistently.

Not long after the letter was sent, Han Hao did not expect Zhao Guoping's instructions to come down immediately, and he had a positive attitude towards his proposal to build a Chinese version of NASDAQ, and asked the relevant departments to hurry up the study and give a forward-looking feasible plan within a time limit.

History is created by the people, and there will be Li Si at the key node without Zhang San. But the elites and leaders among the people can adjust the clock of history a little faster, so that Zhang San and Li Si can appear earlier.

Zhao Guoping's instructions are equivalent to adding heavy chips to the balance of balance, and the Chinese version of the NASDAQ has begun to dawn, and it has a new name - "Science and Technology Innovation Board".

Having said that, when the Hong Kong Stock Exchange learned of the content of the relevant instructions, it already understood the general trend, and the reform of weighted voting rights was already a certainty. If it goes against the tide of history, it will be ruthlessly swept into the dustbin of history.

They passed the new regulations under the theme of "weighted voting rights" as quickly as possible, which are basically the same as the NASDAQ but are still relatively strict, creating the Pearl of the Orient version of the NASDAQ.

Volvo is the first target of the new policy of "weighted voting rights".

Compared with Hong Kong, the Swedish stock market has implemented the "weighted voting rights" policy for a long time, and it is also the securities market with the largest number of AB-share listed companies in Europe.

In this Volvo IPO, Han Hao chose to jointly raise funds in the Hong Kong and Swedish stock markets, with a financing amount of 4.2 billion US dollars. Among them, 3 billion shares of Hong Kong stocks, while Sweden bears the remaining $1.2 billion in subscriptions.

The funds raised will be used to bring in more technical talent, invest in research and development of subsequent models, continue to expand factories in Europe, the United States and China, and finally build a new energy platform to rebuild Volvo as the safest means of mobility in the new era.

Thanks to the best-selling of star models such as the XC60 and S60, everyone is full of hope for the revival of the Volvo brand. In this IPO fundraising, Han Hao accepted the investment bank's proposal with a total market value of 22 billion US dollars in order to maintain a stable strategy, and to a certain extent, he will transfer the premium dividend to investors.

Compared with the market capitalization of BMW and Mercedes-Benz of nearly $60 billion, Volvo, which is in the recovery stage and will continue to launch new models in the next few years, is discounted by half, which is considered a reasonable value.

What's more, Tesla, which is now focusing on new energy vehicles, has soared in stock prices since the release of the Model-X model, and its market value has risen from 4 billion to 20 billion US dollars when it was first listed.

On the day of listing, Han Hao announced that Volvo will begin to put into production plug-in versions of new energy models in the next two years, so as to adapt to future market trends.

"3-2-1!

With Han Hao's hard knock, Volvo Cars was officially listed on the Hong Kong stock market with an opening price of 65 Hong Kong dollars per share.

The Volvo public IPO has created a record of frozen funds in Hong Kong stocks in the past two years, and it is estimated that there are more than 150 billion Hong Kong dollars waiting to be subscribed, many of which are domestic southbound funds, of which retail investors have subscribed 55 times more, becoming a veritable "frozen stock king".

"What you buy is what you earn!"

Retail investors collectively shouted such a slogan, and the relatively low IPO valuation knew that the stock price would rise.

Indeed, the market is as everyone wishes, and Volvo's stock price rose 22% on the same day, showing strong vitality.

Volvo's shares, which then opened on the Swedish stock market, were also popular with European investors, soaring 38 percent at one point and then up 18 percent at the close.

The joint rise in the stock prices of the two places has successfully pushed Volvo's total market capitalization up towards the $30 billion mark.

With the strategy of "weighted voting rights", a group of strategic investors were introduced to dilute the equity before the IPO, and now Han Hao's shareholding in Volvo has dropped to 45%, but he holds 70% of the voting rights, which is enough to maintain absolute control of Volvo Cars.

Through the sale to strategic investors and the funds raised in the market, Volvo has received more than $10 billion in capital injections, laying a solid foundation for future growth.

The successful listing of Volvo Cars was a relief for Han Hao. He is like a father who has worked hard to raise his daughter, and finally one day he personally sent her out of the house to marry. Volvo's little sister is married, and then there is the big sister of Land Rover, Han Hao set a goal to be successfully listed before 2016, and the current market valuation is about 13 billion US dollars.

However, before dealing with Land Rover, Han Hao still has a company waiting to be listed for financing, which is Kunlun Semiconductor, which has shone in the past year.

From the perspective of its strategic position, there is no doubt that it will be listed on the A-share market, otherwise SMIC will not be privatized and delisted in the US stock market before the merger.

I don't know if I don't know about valuation, and I'm shocked by a valuation.

The registered capital of Kunlun Semiconductor is 28 billion, and the owner of Evergrande Real Estate took 3% of the equity with 3 billion yuan, indicating that the market-oriented valuation was 90 billion yuan at the beginning of its establishment.

However, after a period of development and strong support from national policies, Kunlun Semiconductor will strive to become a domestic chip foundry supergiant that can be compared with TSMC, then the anchor of valuation will definitely turn to TSMC.

TSMC, which is listed on the U.S. stock market, is the world's largest chip foundry, with a current market value of 90 billion US dollars, which is 558 billion yuan when converted into RMB.

In addition, A-shares have always had a policy market, whether it is a price-earnings ratio or dividends, it is not as good as an inside piece of information that makes the stock price rise sharply, not to mention that Kunlun Semiconductor is the country's public layout and policy embodiment in the field of chips.

Therefore, the market's valuation of New Kunlun Semiconductor has increased again, and the price-earnings ratio of A-share companies is higher than that of similar overseas companies, so today's valuation has reached 150 billion.

Recently, New Kunlun Semiconductor has been integrating resources and recruiting troops, and there is no real big move. But it was such inaction that made the valuation rise by 60 billion, which can be regarded as a magical scene.

"It is better to believe in the power of the richest man in South Korea, but to believe in the will of the country! As long as China does not fall, Kunlun Semiconductor will definitely rise!"

It is also very reasonable for senior shareholders who always pay attention to the listing information of Kunlun Semiconductor to say the above words.

They are not betting on a single company, but on the national fortunes of China as a whole. As long as you believe that China will be thriving, then Kunlun Semiconductor and even the stock market will be in the red for a long time.

It can be said that for Kunlun Semiconductor, the China Securities Regulatory Commission is also a special case, and it will be ranked at the top of the listing list, as long as all the information procedures are completed, then this giant will officially land on the A-share market.

Han Hao and the China Securities Regulatory Commission are old acquaintances, and the major reform of equity division back then was the richest man Han who cooperated to play an exemplary role, and basically cured the congenital deficiency of China's stock market through acquired surgery, which solved a major problem for the country.

Therefore, when the China Securities Regulatory Commission sent someone to Jiangzhou to meet with the richest man, Han Hao quickly postponed other arrangements and waited for someone from the capital.

Looking at the mysterious appearance of the visitor, Han Hao thought that Kunlun Semiconductor had enjoyed special treatment for listing approval, which caused the other party to have to keep a low profile.

I didn't expect the CSRC's trip to have another purpose!