Chapter Twenty-Seven: A Dangerous
"Fengyun network to support the substantial expansion of affiliated enterprises, this year's expansion will not reach the predetermined target, the number of switchboards can only be slightly increased to three million units, and the Lotus network in the additional issuance of the meeting, will use the additional money to expand the market share, is expected to reach more than 17% of the scale this year. At the same time, efforts are made to reduce costs, optimize services, and improve information construction, so as to improve the profitability of a single store. ”
Du Jing, dressed in a black suit, white shirt and striped tie, stood on the podium to answer questions from institutional investors. The additional issuance will only be the first hurdle, and the comprehensive roadshow will be subscribed by institutional investors in black and white is the key to the success of the additional issuance.
Although the additional issuance at a price 25% lower than the closing price has been recognized by many institutional investors, the roadshow is still essential, which is a necessary condition for communication and building a good relationship.
On this occasion, Du Jing always seemed to be at ease, his subdued tone, gentle smile, and graceful demeanor in his gestures all made the supervisors and managers below heartbroken.
But the question that should be asked is still to be raised, no one will take the money of the securities company seriously, even at a time when the Internet sector is as unstoppable as an erupting volcano.
"As far as we got, the companies associated with Fengyun Network include Thunder Online, Kingsoft Software, Kingdee Software and other high-tech enterprises, and no matter how large the investment amount is, it will not affect the company's expansion.
"This investor from Hong Kong missed an extremely important company, that is, Yunfeng Electronics, according to the news we got from Yunfeng Electronics, this year Yunfeng Electronics' production capacity will be expanded by one to two times, with a total investment of more than 8 billion yuan, Fengyun Network in order to support the expansion of Yunfeng Electronics, will inevitably shrink and expand, this is what I can affirm." Du Jing said conclusively.
The investor turned his head to ask the representative of the mainland investment institution next to him, and after receiving a definite answer, he nodded slightly to Du Jing, indicating that he had no other questions.
"With the reduction of telecommunications tariffs, Fengyun network has made a decision to cut the price by half of the machine fee, Lotus network has also reduced the price by forty percent, the decline in profit margin is an indisputable fact, if large-scale expansion, will it bring market saturation, guide zhì Fengyun network to reduce prices again, in order to squeeze the living space of Lotus network? Taking a step back, even if the Fengyun network does not decrease, will excessive expansion reduce the probability of adoption? Let's put it this way, expanding to 17% of the market share, which means that Lotus will reach 500,000, or even 600,000 seats, which is ten times the current one, according to the quarterly report of the last quarter of last year, Lotus's monthly profit per unit is 2,500 yuan, but now the cost of the machine has dropped by 40 percent, well, according to the profit has also dropped by 40 percent. Now the profit per seat is 1,500 yuan, and the monthly profit has dropped to 82.5 million, which is speculated to maintain a probability of more than 95%. If it expands to 600,000 units, and it is estimated that these are directly operated stores, the profit will increase by another 30%, but if the on-board rate drops significantly, I make a bold guess that the on-board rate will drop to 50%. The result I extrapolated was that the monthly profit would not exceed 500 million. ”
Du Jing's eyes looked at the person who asked the question, it was the investment manager of Hong Kong Yuzhi Securities, wearing a pair of rimless glasses, looking very gentle, but what he said was aggressive.
These investors, or financial figures, are shrewd and thorough, even if the price of 150 yuan is already very low, they want to press more.
At present, the price of the additional issuance is not yet determined, and it depends on whether these institutional investors can subscribe to reach the share of the additional issuance, otherwise if they want to issue additional issuance, they will have to lower the price again.
It's all vampires, Du Jing said dissatisfiedly in his heart, the gentle expression on his face has not changed: "This gentleman may have forgotten, according to the official statistics of the IC, that is, the China Internet Information Center, the overall Internet population is still doubling in the past two years, with the continuous development of the economy in the mainland, the number of Internet users will increase significantly, and now the country also intends to regard information development as a rare opportunity, vigorously support relevant enterprises, and the information construction of local governments is also making great strides. I'm confident that the number of people online will double again this year. ”
The following representatives of the participating investment institutions were whispering, and then someone raised his hand and asked: "Can Mr. Du ensure that informatization has been moving forward and developing rapidly?" Will the domestic economy suddenly experience the same recession as it did at the end of the eighties? ”
Du Jing smiled: "Japan has not declined, but it has stopped, and it is due to the external forces of the United States and other Western countries that it has appreciated the yen and affected exports, so it has reached the current point, and China is not comparable with it." Moreover, China's Internet market is only in the early stage of development, compared with South Korea, Japan, and the United States, both in terms of the number of Internet users, the bandwidth it has is still very inferior, and there is still great room for growth, so there is no need to worry too much about the market will suddenly disappear. The eyes of the world are focused on the Internet market, and the capital market is also gratifying, and there is reason to believe that the future of China's Internet market will be better than the present. ”
Everyone laughed for a while, the global booming Internet market has made these Hong Kong and foreign investment institutions make a lot of money, and now they just want to lower the price.
"I heard that Qinglian Group will also subscribe for a part of the additional shares, is that so?"
Du Jing and Du Jinghai discussed this matter, and the result made him uncomfortable. According to Du Qinghai's meaning, he borrowed one billion yuan from relevant financial institutions and Hengchun Technology, and raised 500 million yuan by himself to reach 1.5 billion yuan to subscribe for 10 million shares.
Hengchun Technology will also subscribe for 5 million shares, Tiger Fund and SoftBank will subscribe for 1 million shares, and another 3 million shares will be subscribed by Jin Jiayan's Hutchison Plains.
Of the 60 million shares, 20 million of them have already been issued, and 40 million shares will be taken out for the roadshow.
According to Du Qinghai, Ren Qingchen and Jin Jiayan's thinking, the price below the closing price of 25% is originally a kind of concession, and this concession is not as cheap as institutional investors, it is better to cheapen yourself.
Wait for the completion of the additional issuance, the book income alone will be more than 30%, although there is a half-year lock-up period, and after the lock-up period, the shares will be emptied, and hundreds of millions of profits will be immediately in the pocket?
Where to find such a cheap thing?
However, Du Jing has an opposing attitude towards the issue of lending, which will undoubtedly increase the pressure on the stock prices of listed companies.
"Well, Qinglian Group, as the parent company of a listed company, will subscribe for 10 million shares." Du Jing replied in the affirmative.
Everyone present laughed, the fertilizer and water did not flow into the fields of outsiders, and everyone knew the abacus of Qinglian Group very well.
After answering a few more questions, today's roadshow is completed, and tomorrow we will meet with another group of institutional investors in a different place.
If you have time, go to see Jin Kaiqi, Du Jing remembered what Du Qinghai said before he came to Hong Kong, so he packed up his things and took his sword to the Lychee Kok Detention Center.
Now that the case has been investigated, with the personal intervention of the Commissioner of Police, Jin Jiayan, Jin Kaiqi, and Shi Weiming can finally see the above, and the sentencing is a sure thing, Hong Kong is a society with a legal system, and it is always necessary to give these people some time to discuss countermeasures, so as not to appear more targeted.
The all-pervasive Hong Kong media finally heard the news, and this matter has become the focus of attention during the Spring Festival, and the gossip media, economic media, and current affairs news media are all tracking it.
Du Jing was communicating with the detention center before coming inside through the side door.
Walking in the corridor of the detention center, he couldn't help but think of Du Feng, who was also in prison, and thought of Du Qinghu's engraved face, and couldn't think of any way he was going to use to rescue Du Feng.
"Here we are."
The police officer's words brought Du Jing back to his senses, and he saw Jin Kaiqi sitting outside the table with a depressed face through the window, sighed and pushed the door and walked inside.
I only have two or three friendships with Jin Kaiqi, and I came to visit him, first, I wanted to make a gesture to show Jin Jiayan, and secondly, I also wanted to see what this gentleman who was connected to Du Feng with the same illness looked like now.
For fifteen minutes, Jin Kaiqi listened to Du Jing say words of relief, and he was like an eggplant beaten by frost, he didn't even have the slightest strength, and he couldn't raise his head.
He has suffered like this, and he has been severely rejected for any conditions he wants to mention, and he sleeps on a steel frame bed that is no different from others, and his whole back is very uncomfortable, like an old man with spondylosis, only when he lies down, he can feel more comfortable.
Eating a boring prison meal every day can almost make him fade out of his mouth, but like Du Feng, he regrets a little, but he has no intention of repenting, he only hates that he was not ruthless enough at that time, and he didn't do it with Yu Jun.
Du Jing went to Jin Jiayan's banquet when he came out of the Lychee Bay Detention Center, and even if his son was detained, he still lived an ordinary life, and there was no need to reduce his quality of life for this matter.
At the end of the four-day roadshow, Lotus Network was oversubscribed, and a celebration banquet was held in Hong Kong, Du Qinghai, Ren Qingchen, Du Hui, Jin Jiayan and others, as well as Hong Kong celebrities, representatives of major securities companies rushed to participate.
Celebrating the successful issuance of the Lotus Network, the official additional issuance time is on February 24, the twentieth day of the first month of the lunar calendar.
These people seem to have seen a lot of money pouring in, Jin Jiayan and Du Qinghai smiled at each other, and said that this matter can be regarded as Chongxi, both of their sons are in prison, and both of them have the same heart.
And what Jin Jiayan had nothing to do, so he could only start from the lawyer and the court, Du Qinghu finally wanted to help Du Feng.
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