January 20, 2003, 32nd Floor, SOHO Modern City, Fengxing Technology Conference Room. Pen, fun, pavilion www. biquge。 info

Lin Feng sat on the main seat, looking at Li Dong, Wang Hao, Xu Xin, and Guo Yihong sitting around the conference table, and felt a little strange in his heart.

Having investors is troublesome, some important decisions and quarterly operating data, but also to open the board of directors to report, which is like before, what is to discuss with Li Dong or Wang Hao to decide the .......

Maybe this is a loss and a gain, after all, I took a lot of money from others, without this money, Menglong would not have expanded so fast, and the popular game business is even more expected.

Guo Yihong was present, and the first to open was the board of directors of Fengxing Technology.

As a director, COO and CFO, Li Dong reported to the board of directors on the operation of Fengxing Technology in 2002.

"Fengxing Technology was registered and established in December 2001, and it has been just a full year now, and the company launched an online music website on March 31, 2002. I love music network', has become the number one online music website in China, Alexa global ranking as of yesterday is 178, is also the world's second largest online music website, second only to MP3.COM, currently I love music network registered users of 8 million, daily active users of 5.6 million, of which the musician community has registered 3832 original musicians, uploaded 12692 original songs, including 32 signed singers, has now and brother company Fenghua Culture to create 6 of the digital music albums。

At the end of August 2002, the company adjusted its organizational structure and established a game business group to enter the online game industry. At present, three game studios of 'Tianmei', 'Haitian' and 'Fantasy' have been established, and have now entered the research and development stage, and the games have been approved as four products: the casual online games 'Band' and 'Dance', and the MMPRG online games 'Journey' and 'Fantasy Journey to the West'.

From the company's revenue point of view, mainly the website business group of my love music network income, divided into two major parts of the record company promotion income, ringtone download income, at present, 32 large and small record companies in China and my love music reached a strategic cooperation, jointly release digital music albums and promote singles, for this record company to pay a certain amount of promotion fees, according to the number of auditions and downloads, this business was carried out in June 2002, as of December 31, 2002, a total of 1.65 million promotion fees have been received and receivable. Ringtone download is the main source of income for the website, and the brother company Menglong Technology channel sharing, the proportion of sharing according to the popular 3: Menglong 7 to share, 2002 April - December, a total of 67.56 million times to download the ringtone, according to 2 yuan / head, a total of 40.53 million income.

The game business group is still in the research and development stage and has not generated revenue.

From the perspective of operating costs, the company's salary expenses are the main cost, and Fengxing Technology has 186 employees and annual salary expenses of 8.7 million. The main reason is that game developers with higher salaries have been in the company for a short period of time, and it is expected that salary expenses will rise significantly next year. However, I believe that the company will have a new revenue growth point, online game revenue.

Next year, the company's main strategy is to continue to maintain the leading position of Wuai Music Network in the industry, deepen the cooperation with record companies, and assist the brother company Menglong Technology to promote the CRBT business.

In terms of capital and cash flow, in 2002, the company received Series A financing from IDGVC and Baring Asia, and received a capital investment of US$15 million, which is currently mainly invested in the R&D expenses of three game studios, as well as part of the promotion expenses of Wuai Music Network, office leasing, staff salaries, etc. The company has 96.8 million cash, and the amount of funds is relatively abundant.

That's the basic picture. ”

Including Lin Feng, everyone applauded!

Xu Xin was very satisfied and said with a smile: "Joe, goodjob! I didn't expect the progress of Fengxing to be so fast, and the execution of the company's management team is very commendable!"

Guo Yihong is also very satisfied: "Fengxing is indeed on the right path, originally I thought that Baidu's MP3 search online, will have an impact on the company's traffic, but I didn't expect that my love music network with the stickiness of the website function, it is not affected, but developed faster." It's really great!"

Wang Hao smiled next to him: "Baidu's MP3 search is a great impact on traffic, but they provide a search link service, and the music quality of my love network is better, after all, the format of the genuine music library is not comparable to those pirated music websites with CD transcription, so to some extent, it has done more diversion for us." ”

Lin Feng clapped his hands and focused everyone's attention: "Okay, that's the basic situation, the focus of next year's popularity will be on online games, and our silent accumulation now is for next year's blockbuster, I believe that next year's board of directors, the board of directors will see a more beautiful data." ”

Xu Xin nodded, and said with a smile: "Mr. Lin, last time you went to Guangzhou, but it was premeditated?" Ding Sanshi complained to me that you kidnapped several game masters from their company...... Now he has set up a 'Fantasy' studio to create the game "Fantasy Journey to the West", which is a counterpoint to NetEase's "Journey to the West"!"

Lin Feng smiled: "No way, kathy, you have also seen it, Fengxing is empty in terms of games, no one has developed it, I can only find a way to find someone." Anyway, Kathy, you have now stepped down from the board of directors of NetEase, and as a popular director, you have to help me speak!"

Xu Xin smiled helplessly, shook his head and said: "I can imagine that next year's game market will be a chaotic war...... and then asked curiously: "NetEase's "Journey to the West" is very popular now, are you sure that the launch of "Fantasy Journey to the West" will be successful?"

Lin Feng spread his hands: "No one is a god, how can I be sure before it goes online?" But according to my judgment, I am confident that the Q version of "Fantasy Journey to the West" and "Journey to the West" belong to differentiated competition, with the IP bonus of Journey to the West, and a professional R&D team, this game will not be bad!"

Xu Xin nodded and smiled: "Okay, then I'll wait and see." ”

Guo Yihong listened, secretly rejoicing that he was determined to invest in Fengxing, but he didn't expect Lin Feng's actions to be so fast, and his determination to be so decisive, in just a few months, he built a game team, started project establishment and research and development, with the current hot game market, this investment IDGVC has earned!

He smiled and said: "I am very satisfied with the development of Fengxing, and IDG will fully support Mr. Lin's development strategy and decision-making." But...... Mr. Lin, does Menglong Technology still accept investment?" Last time, there was no investment in both companies like Baring, and Guo Yihong reflected on it later and regretted it.

No matter how big the problems and restrictions of the SP industry in which Menglong Technology is located, after all, it is now making crazy money!

As an investor, not an entrepreneur, what to do so much, as long as the investment has a return, you should invest decisively!

Lin Feng looked at Yihong with a smile: "Young, do you think Menglong's current valuation, can IDGVC invest?"

Guo Yihong was stunned for a moment, and shook his head with a wry smile.

You can get a glimpse of Menglong's profitability from the ringtone download business of Fengxing Technology, you know, this is just the ringtone download of the channel of Wuai Music Network.

Menglong's main income lies in the SMS business in all provinces across the country!

After the meeting, Guo Yihong left.

The rest of the people took a break and continued to open the board of directors of Menglong Technology. It's still these people, and they don't bother to change the conference room.

The situation of Menglong Company is relatively simple, it is the SP business. It was Li Dong who made the briefing.

"Menglong Technology was registered in August 2001, co-founded by Mr. Lin Feng and Mr. Wang Hao, launched in October 2001, and as of December 31, 2002, it has achieved business access in 32 provinces across the country. At present, the company's main business is SMS business and WAP business, and is preparing for CRBT business. In the SMS and WAP business, the SMS interactive platform and Tuling download are the two core businesses, and the WAP game and JAVA game are the reserve business.

In terms of revenue, from 600,000 monthly income in October 2001 to 21.6 million in December 2002, the company has increased its revenue scale by 36 times in more than a year, and its annual revenue in 2002 was 128 million, mainly in September 2002, when the business was launched in eastern Guangdong, Jiangsu, Zhejiang, Hunan and other provinces, and the income has grown by leaps and bounds.

Payroll expenses are still the main cost, the company's existing headquarters and 4 branches, 28 offices, the number of employees has exceeded 800, and the annual salary expenditure is 35.5 million. followed by marketing expenses, branch and office rents, etc., totaling 6.6 million. The total operating cost was 42.1 million.

In 2002, the company received an investment of US$15 million from Baring Private Equity Asia, which was mainly used for the establishment of branches, personnel salaries and marketing, and was included in operating costs.

The company currently has 190 million in cash and has very sufficient cash flow. ”

Xu Xin was also surprised when he heard it, knowing that the SP industry made money, and when he heard it, he found that it was really very profitable, especially since most of the income was increased after September, when the business of various provinces was launched, that is, next year will be a higher number.

Xu Xin looked at Lin Feng, a young man who had just graduated from college for a year and a half, and admired in his heart, this may be the so-called genius.

"Mr. Lin, I really admire your entrepreneurial courage and vision, the early layout of the SP industry, and finally today, there is a rapid development. I am absolutely confident that Menglong Technology will be successfully listed. ”

Lin Feng smiled and said: "Kathy, Menglong is different from Fengxing, Menglong and I have been going public from the beginning, Joe came to the company as CFO, and the main job is to prepare for the listing, you don't know this!"

Xu Xin was shocked, at the beginning, when he founded Menglong Technology, he had just graduated!

Xu Xin Investment has always paid attention to whether the founder has a vision and vision beyond ordinary people. I have also met many outstanding entrepreneurs.

However, people like Lin Feng, who look so far and move towards the goal step by step...... It's not a visionary anymore, it's a vision of the future!

Xu Xin had a feeling in his heart that Lin Feng might have a clear goal and direction for everything.

It's a bit mysterious, but it's vaguely mountainous.

Lin Feng's next words ruined her mood.

"Okay, Kathy is the first time to participate, Joe, let's talk about our dividend plan!"

Menglong, as a cash cow, is Lin Feng's ATM, and the quarterly dividends make several shareholders full of money.

Xu Xin was stunned, she has also invested in a lot of Internet companies, all of which are waiting to be listed and cashed out, and it is the first time she has encountered a company that makes money enough to pay dividends!

Looking at Lin Feng, Wang Hao, and Li Dong, including Li Dong, with a happy face and ready to share the spoils, Xu Xin felt that everything was so absurd and incredible.

Lin Feng's team is really a magical team .......