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Gu Yongjiang's vision, in China's capital circle, can at least rank in the top 10.

If the scope of this circle is further limited to the "investment circle of the Internet industry", it should be able to rank in the top three.

In other words, there are at least twenty or thirty people on the earth who have his kind of vision and can make this level of capital context deduction.

Therefore, when Gu Mojie heard Gu Yong's strategy to Amway him, his first reaction was relatively conservative: There are twenty or thirty people on this planet who have enough IQ and insight to think of this matter, so why should you make this most lucrative money?

No one is smarter than anyone else.

But after thinking about it all night, Gu Mojie suddenly became confused.

There may be dozens of people on the earth who can see the layer that Gu Yong deduced.

However, no one else has a "unicorn" as big as Hatsune Network Technology.

In the capital market, high-tech/Internet companies with a valuation of more than $1 billion and still insisting on not being listed are eligible to be called unicorns.

In China, the other biggest unicorn at the moment is nothing more than Lei Jun taking part of Gu Mojie's investment in the refurbished machine brand Xiaomi, which is probably worth tens of billions of dollars in market value.

The rest of the industry leaders in the O2O field are also unicorns. For example, Cheng Wei's Didi Taxi, after nearly two years of development, is also worth a valuation of seven or eight billion US dollars. Ele.me, which orders takeout, is about 3 billion. Wang Xing's Meituan is also at the level of 10 billion.

If you look further around the world, there will be a lot more large unicorns to be found. But the biggest is nothing more than a $30 billion valuation - Snapchat, which is currently claimed to be the only one in the United States that can cause trouble for Facebook, is only valued at $16 billion.

Hatsune Network Technology is a prehistoric monster with a valuation of far more than $100 billion. Since swallowing the NHN in late 2011, he has been valued at $130 billion.

After a full year of development in 2012, the further encroachment of Fujisen's business by Hatsune, and the continued deepening of the East Asian social communication market, in early 2013, Forbes and other institutions released an assessment showing that the valuation of Hatsune Network Technology should be in the US billion US dollars.

Of course, the part that Gu Yong is going to take to the market will not be so valuable, because it will have to split a wallet company.

Only high-tech Internet companies are suitable for Nasdaq IPOs, and most of China's domestic Internet finance companies are not among them, which are too deeply under the vertical leadership of traditional financial regulation and are vulnerable to sharp fluctuations in the outlook due to China's policy changes. The last thing U.S. investors like to take is foreign policy risk.

Americans simply don't want to take the time to learn about the policies of other countries around the world. So if an industry is susceptible to sharp fluctuations in foreign policies, the most direct way for them to choose is not to buy shares of these companies.

The federal securities regulations allow the spin-off of subsidiaries that are not suitable for listing in the United States in the first six months of listing, but the United States will require that if there is an obvious possibility of related party transactions between the listed company and the spun-off shareholding subsidiary, the consolidated financial statements of these subsidiaries must be reviewed and published annually.

Translated in human terms, Taobao took it to the United States to be listed, Alipay was not listed, but Alipay's financial report must also be partially disclosed to the American public, because a considerable part of Alipay's traffic entrance comes from Taobao, and the U.S. securities regulator must ensure that there is no "illegal transfer of the due interests of listed companies to non-listed companies between multiple companies controlled by the same operator".

General Gu Yong will follow this principle and make a split plan.

Just a week after he made his suggestion to Gu Mojie, a preliminary draft of the split assessment was released.

During the week, General Gu Yong also urgently talked to Ma Feng several times, expressing some possibilities for cooperation.

Ma Feng was originally quite troubled by the existence of the "Hatsune wallet". After the decline of Fuji Xun, he didn't know how to deal with the relationship with Hatsune in the field of mutual gold.

After General Gu Yong expressed the possibility of further peaceful development on behalf of Gu Mojie, Ma Feng was naturally very interested.

"Hatsune Wallet business and all related businesses with Internet payment and financial attributes will be separated from Hatsune Network Technology. Based on the number of users of Hatsune Wallet of 280 million, the amount of deposits, the degree of credit data collection, and other invisible risk control assets, Ahri currently accepts our valuation of Hatsune Wallet of $27 billion. ”

"Alipay currently has 350 million payment accounts, and the deposit size of Yu'e Bao is 4 times that of Hatsune Wallet, and there are xxx ......"

In the end, based on the comprehensive situation of Hatsune Wallet and Alipay, the following cooperation plan was drafted: the establishment of a new Internet financial business company called Ant Financial.

Alipay, as the largest shareholder, invested in all the company's assets, with an estimated value of $45 billion, accounting for 51% of the shares.

Hatsune Wallet is valued at $27 billion, or 30% of the shares.

ICBC International, one of the investors in Hatsune Wallet, injected an additional US$18 billion in cash capital and held a 19% stake in Ant Financial.

After its establishment, Ant Financial has a total valuation of $90 billion. ”

This condition was first passed in principle by Ma Feng, and then it was Gu Mojie's turn to make the decision.

Gu Mojie initially expressed some doubts about why ICBC International Direct Holdings was introduced. But after Gu Yong explained his bitterness to him, he was relieved.

The biggest advantage of the merger of Internet financial companies is that it can save license resources.

After all, in China's political environment, the business of opening a bank is too high-risk for private capital. If it's 100% in accordance with the policy, then don't do business. If we often play the side ball, as soon as the policy is tightened, the law is enforced selectively, and the state-owned banks are forced to fight back frantically, a single decree can cause heavy losses to private capital.

After all, mutual finance is not a high-tech industry, it is first and foremost finance.

Hatsune Network Technology's previous business scope was much smaller than that of Alipay, so many businesses could not be done in theory. Although Gu Mojie can spend money and resources to get all the licenses one by one, it is difficult to accept the time cost in the first place, not to mention that he doesn't like to have too many money-stuffing and expedited transactions with the government.

Erma can do this kind of business because they are already forty or fifty years old, and they don't have to worry about the risk of becoming a prince and a courtier. For them, the rest of their business is a matter of 20 years.

Gu Mojie can't do this, he is only 27 years old. He may have to go through four or five factions in the future, and it is not good to go through the back door with any of them at the moment.

What's more, the licensing problem to be faced in the future is not only China's domestic license. Wallet products must go to sea, so they need to be operated and licensed by the governments of each country. This kind of huge workload cannot be handled by an Air Force Route company like Hatsune, which lacks a diplomatic team. Gu Mojie must have a traditional push to help him along the "army" route.

In this case, let ICBC International pay 18 billion US dollars and share 19% more profits in the future Ant Financial, and simply leave all the dirty work on the license to them to worry about. With ICBC's signboard in front, there is nothing that can't be obtained from the business scope.

The financial industry doesn't belong to people like Gu Mojie, just as real estate doesn't belong to him. These industries are not dirty, and they can't be done at all.

The spin-off of Hatsune Network Technology, such a huge equity adjustment, was completed in just over a month, catching up with the deadline for the second quarter financial report on June 30, 2013. As for the merger and reorganization of the spun-off Hatsune Wallet, Alipay and ICBC International, it can be delayed for a few months and is expected to be completed within the third quarter.

It is said that the Hatsune Group and the finance department of Hatsune Network Technology have never encountered such crazy overtime, and the intensity of work is even greater than that of the most demanding programmer team.

In this way, Hatsune Network Technology can catch up with the NASDAQ IPO in 2013.

After the split and reorganization, the Hatsune wallet will become an independent app, and its entry interface can still be diverted from the "first sight". However, the balance of the money stored in it, except for Hatsune's priority to invest independently under the same conditions, will be managed by Ant Financial's unified channels.

In the future, Hatsune only needs to share 30% of the profit from Ant Financial's operating dividends and earn a little money lying down.

……

Hatsune is crazy about the layout, and there is nothing wrong with the policy progress on the other side of the ocean.

Gu Yong will get the news in May that Odark Horse may announce a large-scale QE, and the results will be confirmed in June, and the summer vacation will be officially implemented.

The Federal Reserve opened the floodgates to release water.

The M2 value in the U.S. market has soared sharply since August, and all kinds of non-performing assets have been repackaged by "asset securitization", or even three times.

From the beginning, the targeted outflow of QE hot money was clear: to save the shale oil industry. But within a quarter, this strategy of directional release of water got out of hand.

The water will automatically flow to the lowest lying places.

The money will also automatically flow to the place where it feels it has the most money.

If you want to release water to irrigate an arid highland, the only way to do it is to flood the low-lying land first.

Since the third quarter, some bad phenomena have begun to appear in the NASDAQ market: many executives of high-tech listed companies have begun to raise funds through various channels, and then speculate on the stock value of their own companies.

Their motivation for doing so is, of course, obvious. Because many large listed companies have a "company market value" in the assessment index of professional manager teams, the higher the market value, the more valuable the shares in the hands of the major shareholders, and the major shareholders are naturally more satisfied with the professional managers. Especially in some companies that have been established for a long time, because the founder's generation is old and dead, the major shareholders and the management are naturally two groups of people from two classes, and this kind of deception is naturally more intense.

There is only a company like Facebook, because it has been established for less than ten years, and the boss has taken care of the operation himself, so there will be less fraud in this regard.

This kind of false operation of speculating on one's own stock price is nothing more than earning some KPIs and bonuses for the team of professional managers.

Because no new shares have been issued, this kind of speculation can't absorb much hot money.

The entire U.S. capital market seems to be waiting for an opportunity to swallow a lot of hot money and sell a lot of high-performing stock equity in one bite. (To be continued.) Mobile phone users, please browse and read, a better reading experience.