On February 13, 1995, the headquarters building of Pangu Computer Co., Ltd.

Ru Zhang, representing New Venture Electronics Group, Tian Gao, CEO of Pangu Computer Co., Ltd., and Paulson, head of the investment banking department of Goldman Sachs, jointly held a press conference.

Although the invited media reporters were mentally prepared, soon after the press conference began, the blockbuster news still shocked the audience.

"Today's invitation to all media friends is mainly to witness the introduction of external financial capital strategic investment for the first time by Pangu Computer Co., Ltd., the largest subsidiary of Xinchuang Electronics Collective. Zhang Ru announced on behalf of the parent company as the CEO of New Venture Electronics Group, "The strategic investor this time is also the world's well-known financial giant, Goldman Sachs. We will transfer the equity interest in Pangu Computer Co., Ltd.2 to Goldman Sachs at a favorable price. It is believed that the introduction of Goldman Sachs as a strategic investor can bring some new development opportunities to Pangu Co., Ltd. ”

"What, Goldman Sachs took a stake in Pangu Computer Co., Ltd.?"

"Can you disclose the specific amount of equity in 2?"

The media present exploded in an instant.

All kinds of media are remembering the main points of the news, because it must be a blockbuster news when it is sent out.

Goldman Sachs will pay $1 billion in cash in exchange for an equity stake in Pangu Computer Co., Ltd. "I think it's going to be the most beautiful investment for Goldman Sachs, and it's going to give us a huge return." Pangu Computer's influence in the global computer market has far surpassed that of IBM! Among the unlisted technology giants, it is rare to find comparable assets in the world! We are willing to invest in such high-quality enterprises, and help such high-quality enterprises go public to get more development opportunities!

"$1 billion 2 equity, which means that the current Pangu computer is not listed, and it is already worth a valuation of $50 billion?"

"Yes! According to the valuation, the current value of Pangu Computer is $50 billion. ”

"Pangu Computer Co., Ltd. seems to have been established at the end of '92, and it has grown to $50 billion in less than three years!"

The valuation of $50 billion is definitely not a small number!

At present, among the world's listed companies, the market value can exceed 50 billion US dollars, which is also rare. Among the listed companies in Hong Kong, only HSBC is close to this valuation. It has been more than 100 years since HSBC was established, and how long has Pangu Computer Co., Ltd. been established, and it has only been more than ten years since Pangu 1 was listed. If it were, only Pangu Computer Co., Ltd. was incorporated, it would have taken less than 3 years.

But in fact, Pangu Computer Co., Ltd. started from a high start, and it took over the huge asset of the Pangu computer brand, and its management team was also the original team of the Pangu Computer Division. In essence, for consumers, whether they operate independently or not, it is the same Pangu brand.

Not only the brand advantage, but more importantly, the operating system, software, and hardware ecological environment, which makes Pangu Computer build an impregnable moat. As long as computer users all over the world can't abandon Pangu's software and hardware ecology, then it will be difficult for Pangu Computer Co., Ltd. to fail. Even if part of the market share is eroded by other Pangu compatible machine manufacturers, the more compatible machine manufacturers are, the more orthodox and authentic they are.

The valuation of $50 billion is actually a relatively underestimated value of Pangu Computer Co., Ltd. Even if it does not grow, or even if the future performance continues to decline, the existing business is worth far more than $50 billion.

The reason why Goldman Sachs was able to subscribe for 50 billion US dollars is not that Pangu Computer Co., Ltd. is only worth so much now, but because it is to benefit Goldman Sachs and let Goldman Sachs build momentum and run for the listing of Pangu Computer Company in order to get more benefits.

"50 billion US dollars, for our Pangu Computer Co., Ltd., is only a profit of 3 years. Gao Tian, as the CEO of Pangu Computer Co., Ltd., began to explain, "With the introduction of Goldman Sachs as a shareholder, we discounted a lot of valuations. Mainly because, if you invest in us at a fair valuation, then there is not much capital in the world that can afford to buy our equity. Moreover, after Goldman Sachs became a shareholder, the cash paid was only a small amount, and we are not short of this bit of cash! We are interested in Goldman Sachs' influence in the capital market, which can help us choose the opportunity to go public at a fairer valuation! As a company with significant influence in the world, we need to achieve more public media exposure and more attention through listing, so as to maintain the influence of our brand. Compared to the continuous investment of hiring celebrities to endorse our products, going public may be cheaper and higher-quality publicity. Especially for us, the market value will not be low after listing, and it is easy to attract the attention of mainstream funds and investors in any market......

……

After the press conference of Pangu Computer Co., Ltd., the global mainstream media began to report at length that Pangu Computer Co., Ltd., a technology giant, introduced strategic investment from Goldman Sachs and had a plan to go public.

At the same time, consumers all over the world are also grinding their fists, saying: "If Pangu Computer is listed, it will definitely buy its shares!"

"Companies that can see such products everywhere are clearly high-quality assets that look fat and thin at a glance. ”

"The valuation of $50 billion is just a preferential price for strategic investors like Goldman Sachs, and after listing, it is conservatively estimated that it will be listed at several times the valuation, and I have seen more of this kind of capital operation. Unless a company that no one can understand, it may be looked away at the beginning of the listing and given a very low valuation. This kind of company, which is clearly a high-quality asset and can analyze the value of cats and dogs, will definitely be listed at a very expensive value, and will not bring rich returns to those who invest after listing. ”

In the discussion of countless investors and consumers, the valuation speculation battle of Pangu Computer Co., Ltd. is also slowly kicking off. This kind of hype is conservatively estimated to last for several years, in order to attract the attention of more institutions and potential investors. Not all followers will be able to buy it, but it will be enough to attract a very small amount of capital to buy.

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