Cheongdam-dong, Gangnam-gu, Seoul, S-M Building. Pen ~ fun ~ pavilion www.biquge.info

It's another day at the start of the day.

President Li Xiuman wrinkled his eyebrows, staring at the company's equity fluctuations for a while, and his heart was full of worries about the unknown.

In the past three days, the company's stock turnover rate has been very large, and the shares of small retail investors have basically been siphoned off in large quantities. Even the major shareholder NHN Group and the Japanese partner Ebske also sold some unrestricted shares after the stock price rose slightly by about 20%.

It is estimated that there are already outstanding shares and unrestricted shares accounting for at least 7%~8% of the company's total share capital, which have flowed into the hands of the new owner. According to South Korea's Securities Act, as long as the new entrant holds less than 15% of the shares, there is no need to publicize it.

S-M is financed in South Korea's "Gosdaq" market (a plate made by Koreans in 96 years, that is, the first syllable of Korea KO- transplanted to the first syllable of "NASDAQ"), the equity structure is a little more stable than that of the main board listed companies, but it is not as resistant to wind and waves as pure non-listed companies.

The Gosdaq and the main board stock market are completely different concepts, and there are pros and cons for emerging companies.

On the one hand, the low threshold for listing stocks on Gostar and the lack of requirements for the upper limit of the proportion of intangible assets make it easy for many technology and cultural and creative enterprises to go public;

On the other hand, in order to protect the interests of venture capital, companies on Goldtech have stricter control over the targeted capital increase of third parties than the main board stock market. As a result, venture capital institutions that took a greater risk to invest in high-quality potential stocks have greater authority than shareholders on the main board to squeeze out latecomers to enter.

Translated in human terms, it means that S-M companies will not be like listed companies on the main board, after being favored by predators, local tyrants spend money and say that they will be acquired. It will not be like a pure non-listed company, as long as the internal shareholders grit their teeth and insist on not selling, others will definitely not be able to buy it.

This is a kind of stability of the ownership structure in the middle state. It won't be too easy for others to buy you; But if you want to resist, it won't be too easy, you can only "push and half push".

……

"It can't be that Bao'er is there to absorb the company's equity again, right?" Li Xiuman lit a cigarette and took two puffs, thinking so in his heart.

The capital operation a year and a half ago, Li Xiuman's heart was full of purpose. Now that he saw the fluctuation of the stock again, he couldn't help but think so.

At that time, about 14% of S-M's shares, with a total value of about 50 billion won (300 million yuan), were continuously pumped up by various channels for several days, and the stock price also rose. Of these, 6% was sold by the company's partner in Japan, Ebsk.

Later, all this proved that it was the company's director and Li Xiuman's favorite company's number one artist, Human Rights Baoer, who was absorbing shares. Bao'er later explained all this to her teacher, saying that she had received about 300 million yuan in external hot money.

For the proud protégé to increase the company's equity without authorization, Li Xiuman is of course very unhappy. However, that time, Bao'er was very discerning, and did not move the shares of the core shareholders, but swept away the capital in the periphery, as well as the shareholding of Aibeisk. What's more, the acquisition has also pushed up the company's stock price to some extent, giving many people the opportunity to cash out, and Li Xiuman is not good to say.

Later, after the matter ended, Bao'er entrusted the voting rights behind her 14.7% stake to her mentor Li Xiuman for a long time, and there was no worries about this matter.

Baoer's attitude is very clear: spending money to increase holdings is just to share a little bonus, not to influence the company's business decisions. Because of the entrustment of voting rights, Li Xiuman's direct voting rights have increased from 29.3% to 44%, and his voice within the company has become stronger.

So, a year and a half ago, even if it's completely over.

Who knows, it will be repeated again today.

Li Xiuman dialed Kwon Bao'er's number, he didn't want to make this call, but there were some things that had to be asked clearly.

“sensei？ Ah no, teacher? On the other end of the phone, Quan Bao'er's voice was a little confused. Every time she goes abroad for a long time, she will have a hodgepodge of languages, and she will mix and match Japanese, Korean, Chinese and English in a mess.

Hearing Quan Bao'er's still natural tone, Li Xiuman couldn't help but feel a little relieved in his heart: Bao'er grew up under his watch, so he wouldn't have this kind of scheming.

"Bao'er, what have you been busy with in the United States lately?"

"Film-making -- don't you know, 'make-your-move'."

"Oh yes, I almost forgot, to make a movie." Li Xiuman adjusted his tone, and Bao'er's innocent and natural response made him delusional again, "You don't care about the company's operation recently?" ”

"Huh? Teacher, what do you mean? I do not quite understand. Bao'er tilted her head and thought for a while, just right before Li Xiuman added another question, and then resumed the topic, "Huh? Are you referring to the recent change in the company's shareholding? I've been notified, too. ”

In the case of a company on the company, when there is a large fluctuation in equity, the company's major shareholders will receive a notice - which is equivalent to the "high stock exchange" and other institutions to those shareholders, so it is impossible not to accept it.

Quan Baoer has a 14.7% stake in S-M and will of course be notified.

With such a frank tone, it was really difficult for Li Xiuman to continue to doubt.

At this moment, Bao'er just added a line of "sudden realization":

"Recently, I was here in Hollywood, and a few days ago I met Mr. Gu from Hatsune Entertainment. He revealed some intentions, saying that it was because the original Hatsune singer and the later Girls' Generation endorsement cooperation was more pleasant, and he wanted to invest more resources to support me to make movies.

But he also felt that it would not be much for him to praise me, and even help Girls' Generation and other companies he admired to break into the Chinese market—I just listened to it at the time, and now that I think about it, maybe he was increasing his stake in the company, right? ”

Li Xiuman gasped: "Gu Mojie? I remember if he recently spent more than 3 billion to buy Legendary Pictures? ”

"Yes......"

"Okay, it's okay, you work your own." Li Xiuman hung up the phone incoherently.

The value of Legendary Pictures is half that of S-M. Such a big company, Gu Mojie didn't say that it would be killed in seconds.

Thinking that it was a big man of this kind of number who was eyeing him, Li Xiuman was not calm.

But from another point of view, he had some faint expectations.

S-M Company is not only an economic singer, but also an economic actor, and Li Xiuman still has common sense in the film circle, so he naturally knows how thick the family background of Legendary Pictures is.

Although it is an independent film company, although it has not made a film that has won an Oscar directly, it has at least won a few Oscar nominations - while Koreans have never won any Oscar nominations from ancient times to the present.

This alone is enough to force the current situation of fast food entertainment in South Korea to break the sky.

If the other party is allowed to acquire a little bit of the company's equity, how will the other party exert its strength to support Baoer?

Will it be accompanied by a handful of girls' generation who is now making a mobile phone endorsement?

Gu Mojie's increase in holdings this round, to what extent does he have to be willing to make the above support?

When Li Xiuman was thinking wildly, the secretary gave him an appointment.

It was the offer sent by the Chinese.

On the phone, the secretary cautiously stated: "The other party said that if there is no problem with the intention to increase the capital, Mr. Gu from Hatsune will fly to Seoul in person tomorrow to participate in the first round of negotiations." The follow-up work will be handed over to Hatsune Original's venture capital department. ”

"Tell them that we have time and can be on time tomorrow." Li Xiuman gave an order and hung up the secretary's phone.

Sooner or later, it will come.

At the end of 2008, S-M was not in a difficult situation, and the company's fist artist group Girls' Generation was in the ascending channel of development. It is said that if you hold back for a few more years and brew sublimation, the company's market value will definitely rise steadily.

However, as far as the overall environment of the domestic entertainment industry is concerned, the South Korean government has not issued a rescue plan such as "4 trillion yuan" or "27 trillion yen" like China and Japan. Therefore, it is certain that the share of the domestic entertainment industry has shrunk relative to overseas markets in the financial crisis.

This also means that in the next few years, whether it is S-M or YG, all Korean entertainment companies must rely more on overseas markets and "go global".

Historically, 09 years belonged to the gestation period, and this trend was not obvious. And 10 years later, Korean stars have stepped up their efforts to pan for gold in the Chinese and Japanese markets, which is a proof of this.

In the original history, S-M finally accepted a capital increase of 150 million yuan from Ma Feng's Ahri Group on the eve of EXO's debut in order to allow EXO and other groups with Chinese stars to smoothly enter the Chinese market, and gave up 4% of S-M Company's equity. (That's equivalent to the company's market capitalization at around 4 billion, but that's 3 years later.) ）

There is no doubt that the introduction of foreign capital can strengthen the effect of "going out" in overseas markets. Therefore, foreign capital itself will not arouse the disgust of entertainment company operators.

It's all about how much to bring in. The scale of this share must be grasped well.

Today's S-M does not have as much market value as when it came into contact with Ma Feng's Ahri Group in history, and Hatsune's layout in the entertainment field is obviously several times stronger than that of an e-commerce giant like Ahri.

In Li Xiuman's eyes, if Hatsune only wants to acquire a 10% stake in S-M, he can help S-M's artists fully open up the Chinese market, and even use the resources of Legendary Pictures to help, he will agree to the Chinese's conditions without saying a word.

I'm afraid that Gu Mojie's heart is too big, and a few 10% of the shares are not enough for his appetite at all......

If there is only so little, Gu Mojie doesn't need to come to talk to him, because the other party can get it directly in the circulation market.

……

Li Xiuman's worries, no matter how much he thinks, it's useless. The progress of the facts does not change in the slightest with the lustful tendencies in its mind.

The next day was fast approaching, and the time for the verdict had arrived.

Early in the morning, before the company's normal work point, Li Xiuman asked the secretary to contact the other party to confirm the other party's itinerary time and flight information, so that the S-M side could send someone to Incheon Airport to pick up the plane.

Since 2001, due to the continuous expansion of the urban area of Seoul (then called Seoul), Gimpo Airport, which is close to the city, was discontinued, and then moved to Incheon. Incheon Airport is more than 50 kilometers away from downtown Seoul, and it is still very inconvenient for no one to pick up the plane.

The secretary called, but was told that he didn't need to go to Incheon Airport to pick up the plane. Just let them directly clean the rooftop on the top floor of the company to pick up the airport.

Gu Mojie's EC-135HD will go directly upstairs to Li Xiuman's office.

With a range of 1500 kilometers, it is still relatively easy for the EC-135HD, and Gu Mojie can take off from the villa on the Zhuxi Trail and go directly to the upstairs of the SM company. (To be continued.) )