Through an in-depth discussion with the group's senior staff, Gu Mojie found that Apple is not so terrible at the moment. However, his own expression of caution against Apple made a deep impression on his subordinates.

Even Ye Weilun felt that Gu Mojie's marking of Apple was a bit excessive; But since it is the boss's obsession, and when implementing this monitoring plan, Hatsune's short-term direct expenditure is not much, so there is no need to stand in the way.

After the meeting was adjourned, O Gu Yong was left alone.

"Anything else?" Gu Mojie was about to deal with his own affairs, and seeing that General Gu Yong had no intention of leaving, he naturally asked.

Gu Yong pulled over a chair and sat down opposite Gu Mojie: "Let me be the O for five months." So far, the main business is to transfer the equity incentive plan to the company's management, and then it seems that there is nothing to do with me. ”

"What's the matter, Brother Yong, are you in a panic?"

"I can't talk about it, I can only say that there is a gap with psychological expectations." Gu Yongjiang is obviously preparing to show some cards today, and also end the mutual probing with Gu Mojie on financing issues since he joined, "I think that according to the company's current development plan and the speed of paving, we should obviously go faster in the capital market." ”

Gu Yong naturally hopes that Gu Mojie will discover his value and find that he is also an indispensable core of the Hatsune Group in the future. However, Gu Mojie's consistent conservatism in the capital market has caused Gu Yong's attitude of waiting for the price to be sold has suffered a slight setback. So much so that even if "taking the initiative to ask the boss to go public" would make the value of O drop, he had to open this mouth.

Because, today is a good time to talk about this topic.

From the attitude of the Hatsune Group towards Apple, it can be seen that Gu Mojie's heart is too big, far bigger than Gu Yongjiang and Ye Weilun thought before - Gu Mojie even has to frame Apple, which has no conflict with him now, and even will not have a conflict in two years, that mentality is almost the same as the "world police" mentality of the Americans.

Under the whole world, it is not the king's land; On the shore of the land, it is not the king's minister.

The bigger the boss's heart, the more he will lack money; All the appearances that were not bad before were pretended. Speaking at such a time to help Gu Mojie solve the problem, it is obviously more °Fdǐng°Fdiǎn°F small °F said,.》.o≮s_(); It can reflect the value of Gu Yong's joining.

Smart people don't have to think too much about talking to each other, Gu Mojie put down the matter at hand, looked at Gu Yongjiang, and said sincerely: "Then how do you think you should go faster?" ”

Gu Yongjiang considered his tone, trying not to make his words seem too overbearing: "Ajie, I know that when you are preparing for the autumn, you will sell part of the newly built park in the north area of Xixi Wetland and return the three or four billion funds. At that time, in addition to the package fee for Unicom and China Telecom at the first meeting, you can definitely fill in the other funding gaps for this year.

However, the vision is always a diǎn further away. Looking at your current posture that even Apple has to cut off the beard, far from it, at least in the mobile phone industry, you must be counting on being the first in China - the investment required for that goal is not comparable to now. It's time for the company to consider going public. ”

Gu Mojie didn't react violently, just glanced at Gu Yongjiang meaningfully, and then coldly spit out a few questions: "Where to list, how many shares to sell, how much financing is expected, and how much is the overall market value estimated." ”

General Gu Yong breathed a sigh of relief: Sure enough, people will grow. Listening to the boss's tone, at least he is not so resolutely opposed to stock market financing.

For Gu Mojie, is "college graduation" also a milestone in his life?

Or is it that after experiencing Apple's attack, Gu Mojie himself feels that he is really short of money?

Gu Yongjiang immediately threw out his carefully designed plan: "I know you have concerns about letting the group go public at this time. There are more concerns about U.S. stock listings. So let's take it step by step and make diǎn appetizers first - for example, get a subsidiary to go public, circle diǎn money, and make up for the funding gap for rapid expansion in the next two or three years. In the future, when the time is ripe and the overall market value of the group has swelled, it is not too late to think about listing on the NASDAQ. ”

Gu Yong will know how to take it step by step. In the face of Gu Mojie's temper of instinctive resistance to the capital market, some things can only be done step by step.

Sure enough, Gu Mojie was a little surprised: "Can you still do this?" I have heard of the fact that the group company does not go public, and only picks a subsidiary to go public. However, how can Internet companies be listed in China? Don't they all go to NASDAQ? ”

"Why not? Although Baidu, Tengxun, NetEase, Sina, Sohu ...... They are all listed outside, but this does not mean that they cannot choose to be listed in China - but most of those peers before were not allowed to be listed in China due to their financial situation at that time. ”

Gu Mojie felt that this question was getting more and more interesting, so he personally brewed a cup of coffee for Gu Yongjiang and motioned to the other party to talk about it in detail: "Say the specifics." ”

"In fact, most Internet companies cannot be listed in China, and the first bottleneck is that the company is registered - major Internet groups, whose headquarters are registered in the Cayman Islands. The domestic A-share market requires companies registered in China to be listed in China, so this alone has killed almost all Internet groups.

But even so, if only certain subsidiaries responsible for specific businesses are listed, the problem is not obvious. Because there are many examples of holding groups overseas and subsidiaries registered in China, we can also operate in this regard. Therefore, as long as our scale is large enough and large enough to be listed without the group going into battle in person, this diǎn is not an obstacle.

The second major bottleneck in domestic listing is that the domestic securities regulatory commission has rigid requirements for the profitability of listed companies. No matter what industry or what scale, if you want to go public, the terms of making profits for three consecutive years are almost immutable, and you need to increase profits and revenues year after year-

This diǎn is very fatal to Internet companies, because the biggest problem of Internet companies is to 'burn the money in the present and earn market share in the future'. Every Internet company spends its first three or even five years in borrowing money, burning money, borrowing money, and burning money. If you want Internet companies to obtain higher net profits like those industrial and even resource-based enterprises, it is a fool's dream - so in 05, Boss Li could only let Baidu go to NASDAQ to be listed, because with his ability, it only allowed Baidu to make a profit period of one and a half years. ”

Speaking of this, Gu Yong stopped just right, controlled the rhythm of the conversation, and let the boss have a digestion cycle by the way.

Gu Mojie's IQ is naturally not covered, he thought about it for a while, and he understood what Gu Yong meant: "You mean Hatsune Entertainment?" ”

Gu Yongjiang couldn't help but praise the boss's reaction was fast: "Yes! The only hope for our subordinates is Hatsune Entertainment - because Hatsune Entertainment has been focusing on online games since its inception, it has been profitable, and it has also provided a steady stream of cash flow for the brother company in the past two years. The reason why the group can maintain its current pace is not that you alone absolutely hold a large number of shares, and then Qiangang arbitrarily launders all kinds of related party transactions to launder the money out of Hatsune Entertainment?

Although Hatsune Entertainment's profitability has not been high in recent years, it has at least maintained a beautiful number of growth year after year. Among similar domestic enterprises, there is no one who can surpass ours. With Hatsune Entertainment's number jù, as long as you want, I will operate it again this year, and I will be able to hold it into the A-share market next year...... Circle investors hard. ”

Gu Mojie bowed slightly, obviously he had already entered the state, and he might still be thinking about his heroic posture of entering the domestic stock market and desperately cutting meat and wool. However, in the next moment, Gu Mojie's reaction made Gu Yongjiang know that he had guessed wrong.

"That's not right! This can't be done so hastily. ”

"What's the problem?" Gu Yongjiang was stunned for a moment, and he didn't understand why the boss changed his mind again.

"The qiē we just mentioned is nothing more than an argument for 'why other Internet companies can only be listed on the NASDAQ, but Hatsune Entertainment is eligible to be listed in China'. But we haven't solved the question of 'why do we want to go public domestically' or 'what are the benefits of going public domestically'. I don't know much about PO, but as far as I know, many bosses in the circle who seek to go public are there to spit bitterness and say, 'It's not easy to tell the story of making money in China, go to NASDAQ and blow the gold bar with a little vivid story, and there will be stupid investors who throw money at you'. ”

When Gu Yong heard that this was the problem, the suspense in his heart fell back, and he was confident about it: "This is a misunderstanding. Our Hatsune Entertainment has profits, revenue, and popularity, and we want to make money in China, and the coal boss who has a lot of money and stupid can't slaughter it. As for the disadvantages of U.S. stocks, you can listen to me and give you an example to analyze in detail:

In fact, six or seven years ago, NetEase's Lao Ding had the same idea as you: I think that the NASDAQ listing is easy to brag, there are many people who listen, and there is a lot of money given, even if there is no profit, the stock price will still rise. But after NetEase was listed on the NASDAQ for many years, NetEase itself began to make a profit by making games, and Lao Ding felt unhappy.

The reason is that although the domestic securities regulatory commission requires you to make a profit, at least people do not monitor your quarterly financial reports, strategic plans, and partner transactions - as long as you make a profit at the end of the year and half year, the process supervision will be much looser.

On the contrary in the United States, the NASDAQ is a collection of companies that 'borrow money to lose', and it is no longer possible to count on profits, so we have to count on process control, depending on how much your market share has increased, how much the number of user registrations has increased, how much the daily activity and daily traffic have increased...... Every detail has to be monitored.

To put it bluntly, it is tailor-made for Internet companies that have no ability to make a profit - Hatsune Entertainment has such a strong profitability, why go to the United States to accept such detailed supervision? ”

The NASDAQ focuses on the process because it is destined for no good outcome.

The domestic securities and regulatory commission pays attention to the results, and as long as the results are good and the profits are profitable, the process will be relaxed. Even if insider trading related party transactions can't be blocked, as long as shareholders don't lose money, or dividends and dividends are a little, the confusion will be over.

After being analyzed by Gu Yongjiang like this, Gu Mojie suddenly felt that the original domestic listing was not so hateful.

"Sure enough, I still can't completely listen to the nonsense of those peers who are not qualified to be listed in China." (To be continued.) )