Chapter 242 Phoenix Semi-annual Financial Report (I)

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What he got from Rebecca Mark was too unexpected for Guo Shouyun. Although he didn't have any thoughts about Enron before, he respected the results of three years of hard work. He personally called his 'Powerful Generals' and summoned them to New York.

For the sake of this unexpected solution, which will have a significant impact on Pan Pacific Group in the future. Guo Shouyun himself flew from Essex to New York after saying goodbye to Molly Bevan.

"Boss!"

“BOSS！”

At Phoenix's headquarters, Guo Shouyun met with the company's president, William Chang, who is in charge of the Phoenix Fund and Phoenix Trust, Michael Moretz, the company's co-CEO, who is in charge of Phoenix Capital, Patti Sellers, chief financial officer, Tim Smith, chief human resources officer, and David Reinisi, chief risk officer, all of whom are members of Phoenix's board of directors, with the exception of Carol Rusmi, the former CEO and founder of ISHARES, who is now Phoenix's chief advisor.

After shaking hands with everyone and saying hello, and everyone sat down, Guo Shouyun said quickly: "I gathered everyone today mainly for two things: first, half of 2001 has passed, and I want to know about the company's half-year performance. Second, I have a plan for Enron that you need to discuss. Of course, Pan Pacific management will also be with you in this discussion. However, they will not return until tomorrow. Therefore, today's topic is mainly the semi-annual summary of Phoenix Company!"

William Chang and Michael Moretz glanced at each other, Guo Shouyun wanted to know the company's half-year results It was not surprising to them, but about Enron's plan, it was a little difficult for them to understand that they had to discuss it with Pan Pacific Energy Group, a new member of the boss.

However, Guo Shouyun did not give more explanations. After finishing speaking, he pointed directly to William Zhang's head.

"William, as always, let's start first!"

"Boss, I can't report the overall revenue of Phoenix Company to you, after all, the Thunder Fund has not provided an accurate balance sheet to the head office until now!"

With his words, everyone present, including Carol Lu Simi, focused their attention on Guo Shouyun, who was sitting in the middle seat. Now, the outside world has different opinions about the revenue of the Thunder Fund, and they also very much want to know the accurate news.

Facing these gazes, Guo Shouyun, who guessed what they were thinking, nodded. Although the Thunder Fund has a need for confidentiality, it cannot say nothing when facing the top management of its own company. If you really want to do this, it's easy to create a gap. It is not good for the future development of the company.

"I will add this at the end, you only need to report the two companies you are responsible for, Phoenix Fund and Phoenix Trust!"

William Chang nodded, and then flipped through the information in his hand.

"Starting with the Phoenix Fund, in the first half of 2001, after the integration of iShares, the Phoenix Fund has a total of 27 open-end funds, with assets under management of $123 billion, excluding mergers and acquisitions, the asset growth rate is 18.3%. In the first half of 2001, the total revenue was US$1.37 billion, and the net profit after tax was US$32.183 million. The largest of the 27 funds is Phoenix Money B, with a total of $11.3 billion in assets under management. The largest average increase was the Phoenix High-tech Industry Equity Fund, with an average return of 157.34% in the first half of the year.... ”

It's not hard to understand the sheer size of Phoenix Money B's assets. Because Amazon, Apple, PayPal, Matrix, etc., all the funds of Guo Shouyun's holding and stock-infiltrating enterprises are transferred inside. By analogy, Phoenix Industry B is the 'Yue Bao' for the company. Put it in when you don't use it, and take it out when you pay.

"And then there's the Phoenix Trust. At present, Phoenix Trust has a total of $18.927 billion in assets. Among them, equity assets accounted for 73.2 percent, fixed income assets accounted for 17.8 percent, and real estate, insurance, precious metals and other assets accounted for 9 percent! In the first half of 2001, Phoenix Trust achieved a total revenue of $107 million and a net profit of $47,883,200. ”

The vast majority of Phoenix Trust's assets are Guo Shouyun's assets. For example, Matrix, Kwok, Google, LinkedIn, Apple, Amazon, Pan Pacific Group, etc., although the ownership is under the Kwok Family Wealth Trust, the Kwok Family Charitable Fund, and the Bruce Scholarship Charity Fund, the management rights are basically placed under the Phoenix Trust. The faster Guo Shouyun's assets grow, the more Phoenix Trust's assets will grow. However, judging from the development of the Phoenix Trust, William Chang is doing quite well. At the very least, the proportion of equity assets has decreased significantly from the level of 90% at the end of last year.

"More detailed revenue data about Phoenix Fund and Phoenix Trust will be distributed to you in a moment. For the sake of time, I won't introduce it here!"

Nodding his head and waving his hand to sit down, Guo Shouyun's gaze turned to Michael Moretz.

Needless to say, with the prepared information, he also began to tell the board of directors of Phoenix Company about the operating performance of Phoenix Capital in the past six months.

"At present, Phoenix Capital has a total of two businesses, venture capital and private equity investment, that is, VC and PE. In the field of VC, Phoenix Capital has a total of seven funds No. 1, No. 2, No. 3, No. 5, No. 6, No. 7 and No. 8, which invest in the Internet sector, high-tech sector, biomedical sector and new energy sector respectively, of which there are 3 Internet sector funds, two high-tech sectors and two biomedical sectors, and only one new energy sector fund No. 8. ”

"According to the current market valuation, the current total value of Phoenix Capital's 7 VC funds is 3.217 billion US dollars. Among them, Fund 1 has the largest assets under management, accounting for one-third of the total value of the seven funds. ”

"Is Netflix's launch time set?" Guo Shouyun interjected.

"It's set, the 17th of this month. ”

"Have you read Netflix's prospectus?"

"Looked. With a total share capital of 100 million shares, 20 million shares were issued at an issue price of $25 per share! Goldman Sachs and Merrill Lynch were responsible for underwriting. At present, the market has responded well to the listing of Netflix, which has generated 8 times oversubscription during the roadshow!"

Guo Shouyun nodded, "Looking at it this way, Netflix will have a big increase after it goes public." That's a good thing for us!"

Originally, Phoenix Capital held 25% of Netflix's equity, and in addition to the 10% agreed to be given to the management before the listing, and the 20% of the issuance, Phoenix Capital still held 19.23% of Netflix's equity! Although it has decreased a lot, according to Netflix's issue price, this is a huge amount of money worth $480 million. Compared to the investment of $60 million a year ago, it has achieved an eightfold return. Moreover, this does not account for the room for Netflix to increase its stock value after its listing.

This is the charm of venture capital, once it is pressed, it is several times, dozens of times, or even hundreds of times the rate of return.

"Go ahead!"

Guo Shouyun waved his hand.

"Up to now, the 7 funds of the VC department of Phoenix Capital have a total revenue of 25.88 million US dollars and a profit of 3.87 million US dollars!"

"There's already revenue?" Guo Shouyun said in surprise.

Half of the harvest period for venture capital is two to three years, or even longer. Now Phoenix Capital has only been established for more than a year, and most of the investments are growing.

"Fund 3 invested in a biotech company called 'Bader Pharmaceutical' last year, and they were acquired by Amgen in April this year, and we have a smaller stake, so we simply cashed out our position!"

After nodding, Guo Shouyun continued: "How many companies are there under Fund 3 now?"

"Of the 17, the largest shareholder is Celgene, holding 10.23%!"

"Got it, go ahead!"

After saying yes, Michael Moretz continued: "Regarding the PE side of Phoenix Capital, it currently has a total of $690 million in assets. At present, it holds shares in 7 companies, the largest of which is RIM with 21.3%! followed by Celgene with 13.6% and Starbucks with 1.3%!"

"Is Paul's stubborn donkey still angry about me robbing him of his investment opportunities?"

Hearing this, Michael Moretz had a wry smile on his face. At the beginning, it was the idea of Paul Lehman, head of the PE department of Phoenix Capital, to acquire and integrate Pacific and Southern California! However, after keenly perceiving the opportunities in the energy market from the information he provided, Guo Shouyun decisively gave up only making equity investment, but invested heavily and regarded the energy industry as his core business. Of course, Paul Lehman's plan was nullified.

"Paul keeps complaining that you robbed him of the fruits of his labor!"

"Haha, I knew this guy would think that! But, strictly speaking, he was right. In this case, I will give him an additional $200 million and let him choose his own investment target as compensation!"

"When the meeting is over, I call him and tell him the news, and I think he will be very happy about it!"

Guo Shouyun nodded and waved for Michael Moretz to sit down.

"Everyone is doing well, and our Phoenix company is growing step by step. I believe that as long as we continue to maintain this pace for a few years, we will be able to become one of the most respected financial companies on Wall Street!" After a pause, Guo Shouyun smiled at everyone's faint earnest eyes, "I am responsible for the management of the Thunder Fund, and I will tell you about its performance!"

As soon as the words fell, the eyes of everyone present instantly lit up. Guo Shouyun's series of mergers and acquisitions in the first half of this year were all large-scale, involving tens of billions of dollars, except for the loans and bonds of financial companies such as Goldman Sachs, Merrill Lynch, and Seymour, the rest of the most reliable source of funds is Thunder. So, they really want to know what kind of revenue this mysterious hedge fund has made in the past year or so!

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