Xinglong Bank is still advancing unhurriedly, and it seems that this matter will not come to a conclusion until the end of the year.

For this point, Liu Ruoyi is very calm, a strategic investment of this scale, it is not bad to be able to talk about it in a year.

Anyway, the listed investment banking business has opened the gap first, and ten companies recommended by Xinglong Securities have entered the review process of the Yongxiang Securities team, and due to the large increase in workload, Lu Jiahao's team has suddenly been increased to 5 full-time people.

However, judging from the review of the preliminary financial report, most of them could not even pass the material review, and whether it was Xinglong Securities or the financial personnel of these enterprises, they had problems in understanding the financial implementation of the Xiangjiang Stock Exchange.

Therefore, if there are any doubts in the report review, the next step is to go to the enterprise to verify the original vouchers, and each business income and expense seems to be handled in accordance with the principles of financial accounting.

The workload of these things is very large, and it is impossible to rush out, and each company can sort out the core financial verification report in a month, which is considered to be a very powerful progress.

All of this requires the full cooperation of enterprises and the overtime work of securities professionals.

Considering Xinglong's anxious heart, it is best to recommend listing before the end of the year, Liang Baiheng discussed with Zheng Zheng and the two of them to temporarily focus on the most promising listed companies.

And agreed that if the company does not cooperate, immediately withdraw and go to the next one, at this time there is no time to argue with the company, unwilling to cooperate with the dry pull, anyway, there is no shortage of candidates.

Fortunately, Liang Baiheng had such foresight, and in this process, there were really some top-ranked companies that were not very cooperative with the on-site review of the working group.

It is estimated that there is something behind these accounts, but the working group will not delay in this, and on the first day they could not get the original accounting vouchers in the plan, and they retreated directly the next day.

Even if the CEO of this company chased Fucheng to apologize and invite him in every way, Lu Jiahao also adhered to the boss's entrustment, and there must be something wrong with pushing back and obstructing.

With the first live example, in the next enterprise, if there is no ghost in the heart to take the initiative to retreat, or the boss personally presses the formation and fully cooperates! The financial staff under him is required to be on call 24 hours a day, and he is on call if he has any questions!

In this way, the work efficiency of the working group has been greatly improved, which has made the work very smooth.

By the middle of 2003, the development of Aurora Media continued to make great progress, and its revenue exceeded 2.5 billion yuan in half a year, of which film distribution, ATV, and Qionghai Satellite TV accounted for almost one-third of the revenue, and the music sector was much inferior in comparison, and it was only 200 million yuan overall-although this achievement was very bright compared to other companies.

After reading the semi-annual report, Liu Ruoyi knew that MP3 has now begun to become popular, and the era of making money from records is coming to an end.

However, the life of music has not ended, with foresight, corporate music was born, becoming the overlord of online music, relying on the authorization of Aurora Media and Rolling Stone, Penguin Music's MP3 paid resource download has a good user base.

In order to prevent simple piracy, Penguin has teamed up with several major MP3 player manufacturers to launch a "high-fidelity" music format, with Penguin providing a software decoder to support genuine download and playback, and of course, the computer version can be played directly with Penguin Music.

This kind of new digital format music media based on MP3 encoding and then copyright encryption, although the price is low, more than half of the old songs are directly free, and for the newer songs, you can choose a VIP monthly package of 30 yuan to listen to online casually, and at the same time, you can download 10 songs to the local player or computer.

Then watch or download each song separately to see the quality, ranging from 5 cents to 3 yuan a piece, compared to the record, although downloading more than a dozen hit songs alone is still more expensive than an album, but this choice is free!

You can choose the ones you like, it's much cheaper, and the MP3 player space at this time is not large, 64MB, 128MB can't save much "high-fidelity" music, one is more than 10MB of "Penguin Hi-Fi", of course, the sound quality is very good, comparable to CD, but the space it occupies, in this era is indeed "touching".

Of course, you can also choose the normal sound quality version, a lot of about 2MB have downloads, and the price is relatively cheaper.

This sales model has just formed a scale through corporate music, and the largest number of downloads is currently the largest, and the most sold is Liu Ruoyi's music, with a total of more than 5 million downloads and a gross sales revenue of more than 10 million, although it is not worth mentioning compared to Liu Ruoyi's English album sales revenue in North America.

But Liu Ruoyi is already very satisfied, at this time, she can sell more than 10 million sales revenue when online piracy is rampant, which shows that she really has a lot of fans.

The most important thing is that the cost of the sales channel of this method is also very low, Penguin Music according to Liu Ruoyi's proposal, with the music copyright according to 28 shares, corporate music to provide channels, take 2% of the income, the copyright party takes 80% of the income.

In this way, all parties are relatively satisfied.

Although it has only started for less than a year, Penguin Music has more than 20 million customers, more than half of which are MP3 cooperative manufacturers, with built-in embedded versions of Penguin Music Player, and about 10 million are computer download versions.

Although most of these users are still free to use, and the number of VIP users is less than 1 million, this development trend is still very good, and as the cost of bandwidth becomes lower and lower, the proportion of home popularization will be higher and higher in the future.

Coincidentally, the other side of the ocean also launched a similar music service, although it was launched a little later, but it was quite amazing when it first came out, selling millions of paid downloads of digital music in the first week!

Penguin music caters to the high-quality music needs of real music fans,Under Liu Ruoyi's suggestion,Penguin gave birth to a penguin music custom computer speaker,A price as high as 1688222.0Speakers with penguin music customization,In just half a year, more than 50,000 sets were sold!

In addition to the fact that this speaker is indeed jointly created with Penguin Music, it was officially recommended by Penguin Music as soon as it was launched.

This according to the playback characteristics of the computer music player has made certain characteristic timbre adjustments,It is different from the tuning of ordinary home speakers,There is no difference between the audio system and the CD player within 5000 in music playback。

Coupled with the high-end appearance of the atmosphere, it is not a common plastic speaker in the computer that can be compared, but the block is similar to the professional bookshelf speaker, which has led to the users who were originally going to buy a home audio system, many of them have turned to buy this system.

Anyway, now many people already have computers at home, and there are many free songs of Penguin Music in terms of music sources, so this kind of cooperation is simply a must for those young people.

This kind of continuous extension of the surrounding effect, after Liu Ruoyi's prompt, Penguin began to have a special project team to deal with the surrounding development.

Of course, Liu Ruoyi won't tell them now, this thing is still losing money, and it may be worth tens of billions in more than ten years!

If video is added in the future, plus the extension of smart TVs and mobile phones, hundreds of billions are considered to be less!

It's just that today's people can't imagine that the future mobile phone network Internet speed will be faster than the current wired Internet - for most users who still use ISDN, the 10M bandwidth 4G network is simply science fiction!

A variety of media blend with each other, and the trend of beginning to evolve towards all media has emerged, and the listing of H-shares after privatization has been included in the process, and now the revenue capacity of Wangju has been very strong with the development of several main games, and it is fully equipped with the conditions for self-hematopoietic development, both Liu Ruoyi and Ding Sanshi feel that waiting a little longer can get a better valuation for the listing of Wangju.

Although he knew that he had become a non-controlling shareholder, Ding Sanshi still worked very hard in the cause of network gathering, after all, he is still the largest shareholder among the individual shareholders, and Liu Ruoyi and other major shareholders are also very supportive of him.

The most important thing is that the development momentum of network gathering is really good, this year's revenue exceeded 600 million yuan in half a year, and the profit was close to 300 million!

The gaming business is like grabbing money.

In this way, there is no suspense that the revenue of the network gathering will exceed 1 billion yuan this year, and the profit will exceed 500 million, which is the most profitable network company in the mainland now.

As for the original opponent of the network gathering, Shengda, because they insisted on playing by themselves and did not let the network gather to buy and merge, their half-year income was just over 60 million under the market squeeze, and they must be able to survive, but under the strong squeeze of the network gathering, their future prospects are also very worrying, because relying on this agent game, the substitution is too strong.

Compared with the original time and space where they made a fortune quickly and became game giants, their status is much worse than that time and space, and they basically have no right to speak.

Liu Ruoyi's layout has changed the history of the development of the mainland network.

The network gathered first, the penguins followed up, Ahri is still silently holding back the big moves, Shengda was basically abolished, and martial arts became a small wave in the Internet era.

The cold Du Niang Liu Ruoyi didn't catch up, but the post bar was taken away, and the content search network gathering is now its own search engine, and gradually began to shift from internal use to public use, technically, Ding Shi's team has done a lot of work, and the big killer of bidding ranking advertising Under Liu Ruoyi's prompt, the network has applied for patents in various important areas in advance.

Obviously, in addition to the big dogs, Du Niang is not easy to pass through the level of online gathering, although they may be better technically than online gathering.

However, there are big dogs and evil tigers in the world, and there are nets gathering and attacking, and under the melee of the four countries, I am afraid there is little chance to regain the glory of the original time and space.

As for Dianlang and Skinny Fox in this wave, they are a little unable to catch up, they are very good at watching the penguins' instant messaging, and they throw out a little bit of play, and eventually they will find that this road has been exhausted, and the winner eats all the only way to lose their souls.

The thin fox looks at the net gathering post bar, this thing is good, and it is also a cottage to play, but it is obvious that the tiger is not an anti-dog, and the popular star is salvaged by the net gathering post bar, and he is surviving by playing some grassroots Internet celebrities.

Then everyone started to push the game, whether it was an agent or self-developed, the top few are now playing the game as if it were a lifesaver.

In addition to the few companies invested by Liu Ruoyi in the past, the Internet industry has made Liu Ruoyi a mess and began to lose its original territorial distribution.

Penguin doesn't have a large-scale online game in hand, and its ability to attract money is much worse than that of online gathering, so he is anxious to get a sum of money back in the listing circle, and is ready to throw off his arms and do a big game, and Liu Ruoyi has no way to stop it.

It turns out that in time and space, penguins also made their fortune by games, and other ways to make money are much slower, not to mention that online gathering is the best example.

Anyway, the space of the game market is far from saturated, and Liu Ruoyi is also tossed by the penguin and begins to walk on the road of the original time and space.

No matter how much she tosses, she is the largest single shareholder of this penguin, and she has the biggest benefits if she plays well.

She already has 40% of the shares in hand, no matter how big Ma's father is, he doesn't dare to refinance Liu Ruoyi to increase his shares, and 10% more can be absolutely controlled, how to play next?

However, Liu Ruoyi's side of directional financing retains the priority, and Ma's father can't get around it. You can only choose to go to the listing circle.

After being listed as a public stock, it was easier to deal with, and at the same time, it also diluted some of Liu Ruoyi's shares.

This plot Liu Ruoyi watched the fire from the hole, but he would never say it.

These things are trivial things for her, if she remembers correctly, it is right that there is a wave of money in the penguin listing circle, but the initial market is not as high as Ma's father thinks, but it is very quiet for a period of time, which is enough for Liu Ruoyi to return to blood to receive the diluted shares.

However, in oil futures, the once hot market has been dumb for a while, and now crude oil has returned to the level of about $30, and the market is filled with pessimism.

Although the main purpose of cornerstone investment is to go long, in the absence of a clear trend, after reaping a wave of falling dividends from the rapid end of the Iraq war, the operation tends to be conservative, and the participation position is relatively low.

For the bull market, Liu Ruoyi gave a long-term long position to maintain a certain position, and short-term let Tony Cai toss, his quantitative trading strategy is more effective in the process of spiraling shocks, but not for the back and forth shocks where the trend is not obvious.

Fortunately, this person is very determined, and the closed period of the fund under his hand is relatively long, and he simply participates less in the short-term of the volatile world, and this fleeting operation opportunity is difficult for ordinary traders to seize, so he authorizes a maximum of 20% of his fund to have a position for practice trading.

More positions are still long-term long.

Therefore, in this wave of bullhide market, although its funds do not have much gain, they have no losses, and the short-term decline of the bulls can be smoothed out.

For Liu Ruoyi, this is expected, the future is optimistic for a long time, it does not mean that it will rise at any time, but after the price of $30 fluctuated for a few months, Liu Ruoyi will enter the market to ask for an increase in positions and prepare for the next wave of ammunition.

Not to mention $30, even $40 will be historically low in the future, and Liu Ruoyi can survive a long investment closure period.

It's just that Liu Ruoyi is unwilling to push his team in a blunt way, and hopes that Tony Tsai will find the best rhythm by himself.

As her largest ATM, oil futures trading is currently her core business and asset.

At the critical moment, Liu Ruoyi can also leave Tony Cai on his own!