Hong Kong Island. Ray's Jewellery Building.

Mr. Lei Zhenbang rarely attended the company's high-level meetings.

Lei Zhenbang spoke first: "The recent undercurrent in the jewelry industry is surging, and we can't take it lightly. Lei's Jewelry is in a critical period of capital listing, and I hope that everyone will work together to fight this key battle......"

"We are making final preparations before listing, and we will submit a formal application to the Hong Kong Securities and Futures Commission in the near future. The incident in the magic capital is just an accidental event and will not affect the company's overall development strategy. Our layout in the domestic market has been basically completed, and there are currently 318 specialty stores including Hong Kong Island, Haojiang and mainland markets, and the business is in good condition. ”

"After the company goes public, we will shift the focus of market expansion to international markets, including Southeast Asia, Europe and North America. ”

"At present, the only disadvantage is that our main business is not outstanding enough, which is reflected in the company's revenue, jewelry accounts for just over 5 percent, and more than 4 percent of the revenue, which is contributed by the sales of Peach Blossom Fairy's series of products. Last year, the company's revenue of 23 billion, the sales of Peach Blossom Fairy series products have exceeded 10 billion. ”

"The distribution of the Peach Blossom Fairy series is a double-edged sword for us, the benefit is that it brings us customer flow, cash flow and very considerable profits. The disadvantage is that it dilutes the main business, and it may also dilute the brand, and may even exceed the main business. Therefore, it is imminent for us to expand into the international market......"

After the meeting, the listing working group of Lei's Jewelry Company held a special meeting with Zhang Junru's listing counseling team. The main reason is that Lei Ruiqiong and Zhang Junru are conspiring, and Zhu Hongjiang is still in the devil and has not returned.

Zhang Junru said: "We propose to carry out part of the asset divestiture, and leave the mainland market agency of Taohuaxian Tea in the group company and not merge it into the listed company." ”

Lei Ruiqiong: "Agreed. This business occupies a large amount of capital and has a low gross profit margin, which will drag down the company's overall gross profit margin. Assign it to the trading company to deal with it, plus this business, the tax relationship is complicated, it is inconvenient to be open and transparent, and it is better to stay in the group company. ”

Zhang Junru: "Regarding the share capital structure, Lei's jewelry is treated as 1 billion shares, and 250 million tradable shares are issued, with a total share of 1.25 billion, and Lei's jewelry accounts for just 80%. How to distribute these 1 billion shares is an internal matter of your company. The release period of this part of the stock is at least two years, and after two years, it can be lifted in batches proportionally. ”

Lei Ruiqiong: "The shares are very clear, let's talk about the issue price." ”

Zhang Junru: "The shares may not be clear. ”

Lei Ruiqiong: "How do you say it?"

Zhang Junru: "Lei's jewelry, your Lei family holds 51%, Taohuaxian holds 49%, after listing, it is diluted to 40.8% and 39.2% respectively, this is a very delicate ratio, if Taohuaxian company increases its holdings in the circulation market, your Lei family's largest shareholder position is likely to be unprotected." ”

Lei Ruiqiong: "Let's take a step at a time." The 51% of our Lei family is jointly held by many shareholders, and the 49% of the Peach Blossom Fairy is unique to Li Dongwen, according to natural persons, he has long been the largest shareholder, so there is no need to worry about this. ”

Zhang Junru: "That's fine, the follow-up speculation of stocks can also add some themes, such as the battle for controlling rights, and it can also make the stock rise a wave." ”

Lei Ruiqiong: "Hurry up and talk about some reality, how much money can be circled back, the company wants to expand the international market, and there is a serious shortage of money." ”

Zhang Junru: "Be conservative and issue it at a price-earnings ratio of 10 times." The company made a profit of 5 billion last year, and the market value can be issued to 50 billion, according to the total share capital of 1.25 billion after the issuance, and the issue price is 40 yuan. ”

Lei Ruiqiong: "The issue price is 40 yuan, 250 million shares are issued, can we circle 10 billion back?"

Zhang Junru: "Theoretically, you also have to deduct the cost of the issuance, including the underwriter's commission. ”

Lei Ruiqiong: "The underwriter's commission can have a few dollars. ”

Zhang Junru: "Don't underestimate this commission, according to the calculation of 1 point commission, if you issue 10 billion, the commission will also be 100 million." ”

Lei Ruiqiong blurted out a national scolding: "Wocao, help us issue stocks, it will cost 100 million, and it is too easy for them to make money." ”

Zhang Junru: "Underwriters are also risky, and if the issuance fails, the signboard will be smashed. ”

Lei Ruiqiong: "The issuance failed?

Zhang Junru: "If the risk is very large, the lead underwriter will generally spread the risk, and they will find a few more companies to jointly underwrite to ensure the success of the issuance." ”

Lei Ruiqiong: "Is there a high probability of issuance failure?"

Zhang Junru: "If you care, you will be chaotic." The probability of failure is very low, less than one percent. If the probability of issuance failure is high, the rate of issuance commission will naturally rise. ”

Lei Ruiqiong: "The probability of failure is so low, it won't fall on us." ”

Zhang Junru: "Generally speaking, if the risk is too high, the underwriter will recommend lowering the issue price and re-issuance. ”

Lei Ruiqiong: "If the issue price is lowered, then the money in our circle will be less, absolutely not." ”

Zhang Junru: "The price-earnings ratio we set is relatively conservative, and the issue price is not high. ”

Lei Ruiqiong: "Then let's decide it first." ”

Zhang Junru: "There are still some small technical issues that need to be dealt with. ”

Lei Ruiqiong: "What's the problem?"

Zhang Junru: "Asset issues. Mainly a matter of stocking raw materials, I recommend stocking up on some rough stones. ”

Lei Ruiqiong: "Why?"

Zhang Junru: "The valuation of rough stones is very flexible. For example, if you reserve hundreds of millions of rough stones, in the future, this part of the assets can both increase and depreciate, so there is a lot of room for manipulation, understand?"

Lei Ruiqiong: "Then I will reserve 10000000000000000000000000000 ”

Zhang Junru: "The company's existing assets are more than 10 billion, after listing, financing 10 billion, total assets are more than 20 billion, if calculated according to the market value of 50 billion, the price-to-book ratio is only twice as much, which is quite low, and the company's stock price should still rise." ”

Lei's jewelry is listed, although there are some cats, but compared with those listed companies in later generations, it is a big deal. In later generations, there seems to be a listed company that makes cables, spending hundreds of millions of funds and strategically reserving 28 purple clay pots, which has nothing to do with the main business, but relies on the trading of purple clay pots to manipulate the company's profits.

Li Dongwen, who was at ease in Pengcheng, suddenly received news from Lei Ruiqiong that in order for the company to go public, he wanted to reserve a batch of raw materials.

Li Dongwen rushed back to Hong Kong Island, and was fooled by the two women Lei Ruiqiong and Zhang Junru, once our Lei's jewelry is successfully listed, your boss Li will be a billionaire, hurry up and prepare more raw materials, and when the company is listed in the future, it will not be very convenient to operate in the dark.

The next morning, the Hong Kong Island warehouse of the Peach Blossom Fairy Company.

Lei Ruiqiong, Yang Jing, Zhang Shuhai and others gathered around a few piles of stones to pick and choose.

"These piles are jadeite rough stones, with a uniform price of 20,000 yuan a kilogram. ”

"This pile is mutton fat white jade, it is said that it has been sold for 1,000 yuan a gram, let's give a 1% discount, the internal price, 100 yuan a gram, 100,000 yuan a kilogram. ”

"This pile is green and white jade, and it is also discounted, and it is considered 20,000 kilograms. ”

"These piles are miscellaneous jade, 10,000 kilograms. Take your pick. ”

"Gold, do you still want it? It looks like a hundred Hong Kong dollars a gram. ”

Looking at these good things, Lei Ruiqiong felt that the money was not enough.

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