When the scale of the enterprise is weak, Lin Qi maintains a certain vigilance against capital.

For example, Xinchuang Electronics Group, a platform that controls core assets and patents, is not listed because Lin Qi wants to avoid losing control of the company.

However, a large number of non-core business platforms are very keen to go public. Because going public can not only motivate the team to a great extent, but also work hard for the goal of going public.

It is true that after some companies go public, their teams may become millions or even billionaires after their teams become billionaires with a net worth of millions or even hundreds of millions because of the sharp increase in the value of their stocks. But in general, capital is always a scarce resource, and only by being able to raise more resources through various means can we do greater things.

It is precisely for this reason that even if it does not seem to be bad for money, it has a large number of subsidiaries and profitable projects that continue to contribute revenue and profits. However, Lin Qi is still very active in promoting the listing of his companies, and after listing, he also actively communicates with the market to maintain that each listing platform has become a channel for sustainable financing.

Instead of going public, it is regarded as the ultimate goal, and then the opportunity to cash out and leave, and start to enjoy life.

After each company goes public, Lin Qi attaches great importance to the listed company's ability to maintain growth and provide long-term stable returns to shareholders. In addition, seize the opportunity to take advantage of the good market situation, accelerate financing, absorb more liquidity into the company's business, and turn short-term speculative capital into long-term industrial investment, which is the reason why Lin Qi attaches great importance to the capital market and listing.

In a sense, the capital market is also one of the important boosters for the development of new entrepreneurship.

If there is no impetus provided by the capital market, it can also be developed. However, sometimes, when a subsidiary goes public for financing, it can at least obtain the profits that can be earned in more than two or three years in advance through financing. Giving up a part of the equity is at a critical time, shortening the time required for growth by two or three years.

This way of exchanging equity for development speed is actually a very cost-effective deal for Lin Qi.

After all, whether it is the initial issuance of shares in the IPO, or the subsequent issuance of additional shares, the newly issued shares are sold to various investors, and these investors are estimated to be difficult to hold for a long time. In the bull market, when the stock market is issued at a high price, and when the bear market is in the future and the stock price is low, whether it is to use the money of the listed company to buy back the shares, or the major shareholder's own money to increase the stock holdings, in fact, it is possible to continue to increase the equity ratio again.

Just like when Xinfei Electronic Technology Co., Ltd. went public, it got a key amount of money, which made the development faster. After the delisting, although it was a bit of a river crossing and demolishing bridges. However, this also illustrates the fact that a controlling position has special rights over ordinary shareholders. Even if I don't take you to play, privatization and delisting, a bunch of small and medium-sized shareholders have to pinch their noses to accept the privatization and delisting plan.

Of course, the practice of delisting without a word is not too common. Because, privatization and delisting are a waste of money.

First of all, the company's assets need to be very high-quality, and secondly, it needs to kill the valuation of the big bear market, and when the stocks in the whole market are very low, some excellent corporate stocks have the same cabbage price. Finally, the majority shareholders will need to have the money to implement such a deep-pocketed privatization and delisting plan.

In other words, some shareholders of listed companies whose capital is not too strong are at most a bull market stock price is expensive and reduces their holdings a little bit. When the bear market is cheap, add a little bit to your holdings. Even, major exchanges have regulations to avoid short-term trading by major shareholders to manipulate stock prices. For shareholders who hold more than a certain percentage of shares, selling stocks can only be sold in one direction for a period of time, and during this period of time, they can only do the operation of selling in one direction, but not the operation of buying, otherwise, the relevant laws will be violated. In the short term, you can't sell stocks, you can only buy them in one direction. You can only stop buying, and after half a year or longer, it is legal to sell.

But with the scale of capital stronger, Lin Qi is no longer interested in short-term buying and selling transactions, because his influence will seriously affect the market.

Moreover, even if it is speculation, it is to operate other listed companies, and not to conduct this kind of short-term trading on its own enterprises.

Its own listed companies have formed a series of listing and financing matrices. Controlling the capital platform and using excellent companies with good performance and paying attention to returning shareholders as a financing platform can always attract more capital.

For example, if the market likes financial companies, and the valuation of the financial industry is still rising, then Lin Qi can increase the stock of Hang Seng Bank at a high price to obtain more financing.

If the market likes technology stocks, then Lin Qi will launch a large-scale financing plan by listing its technology company projects, or companies that have already been listed.

At least, the professional team has provided Zhang Dahai with a speech that looks bluffing, making him very confident at the shareholders' meeting of the listed company of the New Venture Publishing Group, and many small and medium-sized shareholders and institutional representatives who participated in the meeting were stunned.

"Since the listing of New Venture Publishing Group, we have perfectly achieved our original intention of rewarding shareholders with performance growth. In August 84, we were successfully listed. I still remember that at the beginning, we issued an additional 50 million shares and obtained HK$1.5 billion in financing, which reached a market value of HK$4.5 billion in the initial listing and an annual profit of about HK$200 million. However, in 83 years, our annual profit has exceeded 2.3 billion Hong Kong dollars, achieving a steady growth of ten times in ten years. In addition, in the past less than 10 years, we have paid dividends of more than HK$4.5 billion, which is more than twice the amount of funds raised in the IPO alone. Now, our market capitalization is approaching HK$80 billion, with a price-to-earnings ratio of more than 30 times, and we have relaunched a financing plan of HK$9.79 billion, which is also US$1.25 billion. We are confident that this capital will bring significant returns to our shareholders. Because our investment target is 4% of the shares of Xinfei Electronic Technology Co., Ltd., the optical storage technology of Xinfei Technology Co., Ltd. has had a profound impact on the computer, audio-visual entertainment and other industries around the world for more than ten years. Now, after the advent of DVD technology, we are sure that Xinfei can once again lead in technology, so we seize the rare opportunity to issue 24.475 million shares at a price of HK$400 per share, which is nearly 30% discount from the current stock price of more than HK$530. ”

"New Venture Publishing Group is not a publishing group limited to Hong Kong. Even not only limited to the Chinese publishing market, in fact, one of the things I have done over the years is to let every county-level area in China basically have a new business rental bookstore. Some cities with concentrated populations may have more than 100 rental bookstores. Basically, in the Chinese market, we have about 100 million members who have a book card. Zhang Dahai said proudly, "If you buy books, maybe a reader will only read a few books a year." However, if we popularize cheap and abundant rental books, the readership may increase to dozens or even hundreds of books a year. I don't think it's a big deal, but if we don't, more people will be entertained, possibly playing mahjong and other lower level entertainment. ”

"In the Japanese market, we have 100 stores. And, at present, with the reduction of real estate prices in Japan, we are expanding against the trend, because we are not betting on real estate prices to make a profit. At present, the Japanese market prefers to read manga, so we provide a cheaper rental model than buying a single manga book, so that readers can read a complete manga from beginning to end. Now, instead of losing money, we are making a profit in the Japanese market. ”

"In the future, New Venture Publishing Group will continue to develop steadily at our pace. In addition, we will take the opportunity to lay out more markets that we have not entered in the past, such as around Asia, or the United States, Europe and other markets. Of course, we are very aware that the bookstore rental model is only excessive at this stage, and we will focus on Internet business in the future. For example, our starting point reading has opened up markets in Chinese, English, Japanese, Korean, etc., with more than 2 million registered readers and more than 100,000 paid readers...... In addition, the online reading market is now growing faster than the traditional rental bookstore market. I believe that in ten years, online reading may become our main business ......"

After a series of flickering, major institutions and small and medium-sized investors began to frantically subscribe to the IPO of Xinchuang Publishing Group, and nine years later, they launched a new stock issuance plan.

Originally, the total share of the stock was fixed at 150 million shares for a long time, and it has not increased or decreased since it was listed. After this financing, the total share capital increased to 174.475 million shares. This time, it only took 24.475 million shares to raise nearly 10 billion Hong Kong dollars. Compared with the IPO of 50 million shares 9 years ago, which only raised 1.5 billion, it is obviously much more appetite and swallows up more funds in the market.

This is also where the long-term interests of the local government lie in Lin Qi's eyes, and companies with good long-term performance are superstitious and admired by investors. After that, the financing plan was launched again, apparently more than the initial listing, investors are not familiar with the company's situation, and can raise more funds.

Compared with the kind of buying and selling operation, Lin Qi prefers this kind of big appetite, and after a good long-term operation, every few years, when the valuation is higher, he will raise another amount of money. Sustainably obtaining funds from the capital market is even more lasting and beneficial than incubating some small companies to go public.

Compared with others racking their brains to go public, Lin Qi directly asked his listed companies to reach out and ask, I'm awesome, I need more money to be more awesome, give money!

This approach is easier to get most of the capital favor than the kind of hard-working company that says, give money, and if you don't give money, I'm going to die.