Before the Spring Festival ended, Ren Pingsheng set off to fly to the other side of the ocean to participate in the last roadshow before the launch of Wanyou Games.

"ROAD SHOW" REFERS TO THE STOCK PRESENTATION REPORT ACTIVITIES HELD BY STOCK ISSUERS AND UNDERWRITERS FOR INVESTORS, THE PURPOSE OF THE ROADSHOW IS TO PROMOTE COMMUNICATION AND EXCHANGE BETWEEN INVESTORS AND STOCK ISSUERS, SO AS TO ENSURE THE SMOOTH ISSUANCE OF SHARES.

After more than a year of preparation, Universal Games has built a VIE model, introduced a number of investment institutions through two rounds of financing, and confirmed that it will be listed on the NASDAQ in early March.

The lead underwriter of the IPO of Universal Games has been determined to be Goldman Sachs, Morgan Stanley and Merrill Lynch, CICC Securities, Hanhai Bank as financial advisers and deputy underwriters, the IPO will issue 42 million shares of ADS (American Depositary Receipts), accounting for the existing shares, half of which are newly issued shares, and the other half is the existing equity sold by major shareholders, the IPO issue price is 20~25 US dollars / ADS, and the basic financing scale will reach 840 million US dollars to 1.05 billion US dollars.

Goldman Sachs, the lead underwriter of the IPO, rented the largest hall of the Waldorf Astoria Hotel in New York for this roadshow, and Ren Pingsheng and all the executives of Universal Games walked up to this classical hall full of history in formal clothes and spirits, facing more than 100 investment institutions and investors who rushed to hear the news, and carried out the roadshow in an orderly manner.

Before the listing, the management of Universal Games made the following adjustments.

Board of Directors: From 5 members in the first session to 9, representatives of Sequoia Capital, SoftBank China, Fuxing Group and Yingtai Group have been added, respectively: Ren Pingsheng, Luo Dahui, Xu Tao, Lin Lisong, Shen Nanpeng, Sun Zhengyi, Guo Guangchao, Shen Guojun, Ning Zhenyi is still an independent director, and Ren Pingsheng continues to serve as the chairman.

Senior management team: Xu Tao as the company's CEO (CEO), Lin Lisong as the company's president, Luo Changyu as COO (chief operating officer), Liu Yijun as CHO (chief human resources officer), Fu Huizi as CFO (chief financial officer), Li Guohui as CTO (chief technology officer), Qin Zhenwei as CLO (chief legal officer).

After many executives met with investors, the company's CEO Xu Tao made a brief introduction to the soon-to-be-listed company in front of many investors:

Universal Games is a fast-growing online entertainment provider on the Internet.

In 2007, the company's first online game "Ideal World" was launched, and the number of registered users has been growing at a rate of 300% every quarter. Up to now, "Ideal World" has a total of 60 million registered users, ranking among the top five in the industry; the highest number of simultaneous online users has reached 1 million, ranking among the top three in the industry; since the beta of "Ideal World", all data have set a new record for Chinese online games, becoming an emerging force in the domestic online game market.

According to the financial report audited by KPMG, Wanyou Games' total net revenue in 2007 was 1.4 billion yuan (about 200 million US dollars), higher than the loss of -13.28 million yuan in the previous year. In 2008, the total capital expenditure of Wanyou Games was 244.5 million yuan (about 34.9 million US dollars), including an interest-free loan of 50 million yuan. After auditing, the net profit of Wanyou Games in 2008 reached 1.1555 billion yuan.

On the whole, Wanyou Games can earn 350 million yuan per quarter and a net profit of 288 million yuan per quarter by relying on the game "Ideal World" alone. This profitability is second only to "Dream Three Kingdoms", the leader of similar games, and "World of Warcraft" developed by Blizzard, a major international game, in China.

Although Xu Tao's expression skills are not very good, and he is still a little nervous in the face of this kind of big scene, but the investors present can still clearly grasp the recent situation of the company through simultaneous translation and PPT, and the super fast development speed and super profitability of Universal Games have made up for the lack of expression of the CEO himself, and successfully aroused the interest of investors.

After the introduction of the company, the activity was transferred to the investor inquiry link, and the person responsible for answering investors' questions was Ren Pingsheng, the chairman of the company.

This entrepreneur and entrepreneur, who is already well-known in the domestic Internet industry, wears a navy blue suit, with two buttons on the neckline of his white shirt, and stands on the stage with a confident smile on his face, responding to every investor's inquiry in an orderly manner.

Face-to-face consultation can allow investors to understand the company's relevant issues for the first time, and can also directly observe the quality and ability of the company's operators, which has a very important reference value for investors to subscribe for shares before the IPO, and is a crucial part of the roadshow.

Although Ren Ping rarely interfered in the specific management of the company in his life, he founded this company, and always grasped the strategic direction of the company, and was confident about the company's development context.

The investors' questions mainly focused on the operation of Universal Games and "Ideal World", and a few of them were asked quite tricky, which made the executives present sweat, but Ren Pingsheng was confident and comfortable to see the moves, and gave good answers one by one.

The investment representative from Deutsche Bank, with blonde hair and tall build, with Germanic arrogance on his face, asked in rigorous English:

"China's online game market has been developing for 8 years, the market has been very mature, Luoyi, Tengxun, Shengda, Qicheng and other giants firmly grasp the vast majority of the market share, Wanyou Games is just a new start-up company, in the channel and publicity do not have advantages, how do you expand market share, and how to deal with the competition of giants in the future. ”

Ren Pingsheng nodded at him and said with a slight smile:

"You're right, China's online game market is indeed very mature, and the competition among the giants is fierce. However, note that we are talking about China. According to authoritative statistics, the number of births in China after the 90s is about 328 million, accounting for 24% of the total population. This group of young people, who are gradually coming of age and have spending power, will be the core force driving China's online entertainment market. “

Ren Pingsheng spread out his hands, drew a circle on his chest, and gestured:

"There are still many young people in China, and the Chinese market is still very large, and we have the confidence and ability to win our due share in the big market of China. ”

His words are round, sonorous and powerful, full of strong self-confidence and courage, and related to the background of the continuous development of China, people have to be impressed, those domestic investors and media reporters have nodded one after another, their faces are full of pride.

A representative of the Abu Dhabi Investment Authority, a sovereign investment company from the UAE, asked a bearded man with a turban:

"The competition in China's online game industry is mainly based on the two modes of agency operation and self-developed operation, and agency operation has always occupied the mainstream position, Shengda's "Legend" and Seven Cities' "Miracle" have achieved great success, and today's world's best "World of Warcraft" has also entered China's operation through agency, and Wanyou Games only operates its own developed games, will it miss business opportunities?"

Ren Pingsheng shook his head and said with a serious expression:

"Online games are a kind of art, and there is a saying in the art world - only the national is the world. I think this sentence makes a lot of sense. In order for any game to move people's hearts and make more people like to play, it must be close to the cultural and artistic aesthetics of the player group. Our universal games have always taken the road of independent research and development, because we know the needs of Chinese players, and only our self-developed games can truly reflect traditional Chinese culture and truly fit the aesthetics of Chinese players. ”

Speaking of this, Ren Pingsheng pointed to the data of Wanyou Games on the big screen and said loudly:

"The numbers speak for themselves, and the fact that Ideal World has surpassed World of Warcraft in terms of the highest number of concurrent users speaks for itself. I don't think I need to answer this question anymore. ”

Ren Pingsheng's in-depth answer made the investors very satisfied, and the humor in his words also amused the audience, and even the representative of the Abu Dhabi Investment Authority stroked his beard, opened his big mouth, and smiled with a mouthful of white teeth.

A representative of Temasek, Singapore's sovereign investment company, a middle-aged man with a thin black and lean face, asked:

"In recent years, online game companies have invested more and more in human resources, and various companies have provided very generous treatment to attract talents, such as the American listed company Luoyi, which recruits a large number of master's and doctoral talents from major universities every year, and the introduction of these talents has greatly improved the research and development capabilities of enterprises. For example, your CEO, Mr. Xu Tao, is not highly educated, and your company does not provide preferential conditions for highly educated talents. So, I'm worried about whether the company's future R&D will be sustainable. ”

His question is quite special, especially because he grasped the shortcomings of Xu Tao's own low education, and put a question mark in the hearts of all investors: whether Universal Games can maintain rapid growth under the leadership of this CEO.

After all, most of the CEOs in the Internet industry are highly educated, and many are graduates of prestigious universities at home and abroad. In this field, academic qualifications speak for themselves.

In this regard, Ren Pingsheng was not in a hurry, he said slowly:

"I'm a business manager, but I'm also a gamer, so I can say that I've been a gamer longer than I've been an entrepreneur. Over the course of my gaming career, I've learned how to communicate with people, how to spot opportunities for gear, how to organize and manage other players, and how to lead them to victory in every battle. ”

Ren Pingsheng's narration is well-organized, reasonable, and well-founded, which has aroused many people's thinking.

"For me, the management skills I learned in the game are not inferior to the management knowledge taught in the books, and in some aspects, they may be even better. You see, I'm a veteran gamer who runs a business that's stronger than many business school MBA graduates. ”

Ren Pingsheng paused here and said with a smile:

"Of course, I also make a lot more money than an MBA graduate. ”

His boastful humor was not abrupt at all on this occasion, but made people feel very real, so the investors in the audience laughed.

"Xu Tao. ”

Ren Pingsheng turned sideways and gestured to Xu Tao, who was a little nervous on the side, and he stood up at a loss.

"Our CEO, not only a veteran gamer, but also a great game designer and creator, single-handedly created Ideal World, an online game with 60 million players, which is a good enough way to show his worth. ”

Ren Pingsheng's words were reasonable, and at the same time he cited himself as an argument, which was extremely convincing, and the investors present stood up one after another and applauded Ren Pingsheng and Xu Tao in unison.

In the applause of everyone, Xu Tao's originally awkward face finally smiled, and he smiled very sunny and bright.

Because he has gained the rarest respect since he started his career.

The words of the representative of Temasek were aimed at the most sensitive part of Xu Tao's heart, he has always hated others to talk about his academic qualifications, and this kind of behavior of revealing the scars in front of him made him feel embarrassed, and his face was a little unbearable.

At this time, Ren Pingsheng took the initiative to stand up, not only relieved him, but also gave him a beautiful show in front of many investors, which not only soothed the resentment in Xu Tao's heart, but also made him more grateful and reverent to Ren Pingsheng.

Finally, a private investor from Los Angeles, an old-school American gentleman in a fancy suit and a floral bow tie, asks the most poignant question:

"Half of the shares that Universal Games plans to issue on the NASDAQ are old shares sold by the majority shareholders, does this indicate that the majority shareholders lack confidence in their company's prospects, otherwise why sell these shares early?"

His question is very important, because this is indeed a unique point in the IPO of Universal Games, and this question also points to the most concerned issue in the hearts of many investors: if the company's major shareholders lack confidence in the listed company, then the money invested by investors in advance is likely to be wasted.

Everyone didn't want to invest their money in a company where the majority shareholder was going to run away, so everyone unanimously looked at Ren Pingsheng and wanted to hear how he explained all this.

The reason why Ren Pingsheng wants to sell his old shares in advance is simple, because he needs to reserve enough bullets to prepare for the upcoming financial crisis.

In another four months, the financial turmoil that swept the world will cause a heavy blow to the global stock market, and the stock price of Universal Games will inevitably fall sharply.

In a crisis, those who have cash have the initiative, and Ren Pingsheng must grasp this initiative.

Therefore, early monetization is required.

But this reason cannot be told to investors now, and that will scare investors away.

Ren had to explain his motivation for early cash with a plausible and high-sounding reason without jeopardizing investor confidence.

Fortunately, Ren Pingsheng had been prepared for this, and he had already found that reason.

In the eyes of everyone, Ren Pingsheng replied calmly:

"As a major shareholder, my reasons for selling my old shares have been stated in the prospectus. This year has been a very difficult year for our country, my compatriots have been hit by snowstorms, and the people have suffered great losses. As an entrepreneur and public figure, I feel it is my responsibility to stand up at this juncture and help those in need. Therefore, I plan to sell some of the company's shares and invest in public welfare and charity to contribute to the unfortunate people. ”

His answer was emotional and infectious.

The news of the heavy snow disaster in China has been known all over the world through various media means, and the investors here can understand the seriousness of the snow disaster, so they can empathize with Ren Pingsheng's explanation, and Western business civilization has always advocated that entrepreneurs should take the initiative to assume social responsibility.

But Ren Pingsheng was not satisfied with this, he continued to throw out a decision.

Facing all the investors, Ren Pingsheng said with a serious expression:

"To show my responsibility to Universal Games and to express my confidence in the future of this company. As the majority shareholder of Universal Games, I promise you that my personal shares in Universal Games will be automatically locked up for two years after listing, and no shares will be sold during this period. ”

His decision came as a surprise to everyone, as the company's IPO rules provide that the shares of the original shareholders and investors are automatically locked up for six months after the company's IPO is listed, after which they can be freely sold.

The vast majority of shareholders and investors will sell their shares after the lock-up period is lifted, because that's what they're investing in this company.

Stocks are meant to be sold, and if they are not sold, where will the profits come from.

In business, everyone will choose what is beneficial to them.

Therefore, there are very few shareholders like Ren Pingsheng who automatically promise to lock in for two years, and if he does so, it is equivalent to giving up the opportunity to sell for profit, and at the same time can ensure the stability and orderliness of the company's stock price, which is very helpful for the company's trend after listing.

As soon as they heard that the major shareholder had made such a promise, the investors present all showed a smile of relief on their faces, and the confidence that had been eroded before returned.

But Ren Ping's life is not over, he threw another bombshell next.

"I personally promise that I will increase my stake in the company in the open market within 12 months after the listing of Universal Games, and the specific amount and time are to be determined. ”

Everyone was stunned by Ren Pingsheng's second promise, the chairman who paid out of his own pocket to increase his holdings of the company's shares in the secondary market, even in the United States is very rare, no matter how many shares Ren Pingsheng will increase at that time, but his statement alone is enough to make all investors excited.

The major shareholders promised not to reduce their holdings, but also to increase their holdings, which shows that they are very optimistic about the company's prospects.

Ren Pingsheng's remarks were like a reassuring shot in the arm for all investors, dispelling all worries and doubts, and like a shot in the arm, they aroused the enthusiasm of all investors.

Everything went very smoothly next, Wanyou company's own super profitability, the high-profile statement of the major shareholder Ren Pingsheng, all made investors rush to the IPO stocks, the day's subscription was very enthusiastic, not only 42 million shares of ADS were all sold, the five major underwriters also exercised the over-allotment right, will buy an additional 12 million shares of ADS, so that the early subscription of the IPO reached 56 million ADS, and the total amount of funds raised reached 1.12 billion US dollars to 1.4 billion US dollars.

Looking at this huge financing figure, the faces of the executives of Wanyou Games can not hide their joy, oversubscription means that the market has a high degree of recognition of the IPO, and the stock will definitely achieve a good rise after the stock price rises, and if the stock price rises well, the stocks in the hands of these executives are also more valuable, and everyone's wallet will bulge a lot.

Of course, all this is thanks to the excellent roadshow performance of Chairman Ren Pingsheng, and everyone is not hesitant to praise their boss in words.

For the flattery from the heart of his subordinates, Ren Pingsheng was not arrogant or discouraged, he just smiled slightly and said:

"Tomorrow will be the time to witness miracles, so everyone have a good rest and go ring the bell with me. ”

Listening to Chairman Ren's passionate call, everyone was enthusiastic, and everyone was looking forward to tomorrow's big show.

Ren Pingsheng looked at everyone with a smile, pointed in the direction of Wall Street with his finger, and said loudly:

"See you next on the NASDAQ. ”