$135 billion! With the exposure of this number, it has suddenly become a hot news reported by major media.

After the signing of the shareholding cooperation agreement, CDB and CIC did not know whether they had agreed with each other, and on the same day, they issued a media press release announcing the news of their stake in Kamodo.

The draft is not long, and the content is very simple, only mentioning the amount and proportion of shares, without context and no specific terms.

However, these are enough to ignite the enthusiasm of public opinion, not to mention that all financial newspapers and periodicals are absent, and even many comprehensive newspapers and periodicals have joined the ranks of competing reports, not to mention that many self-media have also been mixed in, volunteering to play the role of "tap water". For no other reason, people are still accustomed to classifying Kamodo as an IT company, and this valuation is tantamount to subverting the pattern of domestic IT companies.

People who have a little understanding of the IT industry in China should have heard of the name of the three giants of the BAT Internet, among which Tencent (T) and Ali (A) occupy the first and second positions with the latest market value of $500 billion and $470 billion respectively, and Baidu (B) has a market value of just over $80 billion and is still climbing to a market value of 100 billion.

Originally, there was a time when JD.com's market value was very close to the third, and many media once announced: The Big Three are going to change their names to JAT. It's a pity that Jingdong lacks stamina, and was soon distanced by Baidu, although Jingdong and Chen Wenhao got into a relationship, and the introduction of spacecraft to form a transport team helped its stock price rise a lot, but Baidu took advantage of artificial intelligence to accelerate the application of the market, and the market value also rose all the way, and the gap was getting bigger and bigger.

Speaking of which, the stock price trend changes of these two companies in the past year can be related to Chen Wenhao's side. On the one hand, the emergence of small card series software and artificial intelligence-like modules has allowed the market and users to see the charm of strong artificial intelligence in advance, and it has stimulated other manufacturers to catch up; On the other hand, the emergence of electrically powered spacecraft has opened a window into a new world for logistics and aviation companies. Therefore, Baidu, which develops artificial intelligence, and JD.com, which buys spaceships to transport goods, are both on the rise as a whole. However, why is the gap between the two widening and widening? Chen Wenhao also thought about the reason privately, maybe it may be that investors think that artificial intelligence is a little higher than the word "pulling goods"? This question is still left to Lao Liu to worry about.

But now, as a result, some media have begun to play the new name of KAT. No way, most people have a gossip heart, and this kind of corner overtaking drama naturally has many readers who love to watch. It can only be said that the media that pursues sales is persistent and terrible. Besides, this time, the valuation of $135 billion is backed by state-owned assets. So, in this time when the Lunar New Year is about to be ushered in, the original news off-season suddenly becomes lively.

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Dai Yuqian put down the phone, looked at Chen Wenhao, who was sitting on a recliner and flipping through a book next to her, and said a little funny, "The interview invitations received in Yidong Park are about to break 100, and most of them want to interview you." Mr. Jin is similar, busy receiving reporters all day long. ”

Chen Wenhao stretched his waist, "The negotiations have finally been completed, and the propaganda work will be handed over to Mr. Jin." By the way, thanks to your father's help this time, otherwise the negotiations with the financial teams of the two major countries would not have been settled so quickly. ”

It is not only the speed that is satisfied, but also the specific terms of cooperation, which are far more generous than conventional bond investments. For example, CDB's equity investment is a mezzanine investment. According to the agreement, CDB will acquire a 12% stake in Kamodo after the investment, and the term of this investment is 15 years, with an annualized rate of return of no more than 2%, and Chen Wenhao can repurchase the equity held by CDB on a case-by-case basis from the fifth year. To explain it simply, a friend lends you a sum of money to open a company at a rate lower than the bank interest rate, and you take out part of the company's equity as collateral, and when the company makes a profit, the friend not only does not participate in the dividends, but also allows you to redeem the equity at a specified time by paying a little interest. During this time, friends can also use his connections to help you introduce business and avoid risks. Do you want to have a dozen friends like this?

The reason why CDB does this is that it is a policy bank, not for profit, which is essentially equivalent to the state supporting the development of key industries and enterprises through financial means. This is the significance of attracting CDB to take a stake.

In contrast, CIC, which is tasked with maintaining and increasing the value of the country's foreign exchange funds, has much higher profit requirements, not only participating in the company's normal dividends, but also using the market valuation at the time of redemption as the standard. It is also thanks to the fact that Kamodo is an offshore registration, so that CIC's foreign exchange investment can be successfully established and recorded. The biggest advantage of CIC's participation is that it solves the problem of foreign exchange control, and with the name of CIC, enterprises can basically legally circumvent various control requirements of the State Administration of Foreign Exchange, which is much more convenient for overseas business development. Part of CIC's equity funds will be used to repay the equity conversion needs of A and G, and the other part will be mainly used for the construction of overseas sales networks.

Chen Wenhao quickly calculated the gains and losses of this equity structure adjustment, and on the premise of not paying too much price, he removed the equity part of the American capital, and then introduced the two major national teams, the benefits are obvious, at least the promotion in the domestic market is not easy to meet the restrictions of the policy. However, there are also disadvantages: Europe and the United States, oh no, the US market does not need to be considered, and the more sensitive European market is estimated to be unhappy with the company's new state-owned label, and there may be a lot of inexplicable obstacles in the future. However, who is afraid of whom, with alien black technology in hand, which one is not convinced. Well, bulldoze with technology and the general trend.

"By the way, you can help me notify the office, and this year's annual meeting can be held." Chen Wenhao suddenly thought of something, and turned around to talk to Dai Yuqian.

In the past month, he and the company's relevant executives have focused on equity negotiations, and Fang Yuxin, who is in charge of administration, mentioned the annual meeting before, and he asked the administration department to prepare first, and he didn't know how the progress was.

"I've been helping you with the work of a secretary lately, which is beyond my scope of work, and I'm considering applying for two salaries from next month." Dai Yuqian made a joke after making a phone call to the office, during which she participated in the entire process of equity negotiation as a legal expert, and more often served as Chen Wenhao's personal legal counsel.

"No problem, I'll send you a letter of appointment for the secretary tomorrow. There is a saying: If there is something to do, the secretary is fine...... Hey, hey, hey," Chen Wenhao laughed.

"Whew! You pervert, what are you thinking. Dai Yuqian's face was slightly red, and she threw the pillow at hand.

"What am I thinking, do you want to guess?"

"Don't come here, oops, let me go."

"Then guess again, do I let it go, or don't I let it go?"

"Nasty~"

……