Chapter 308: The essence of investment is to invest in people!

That night, under the chairmanship of Jiang Weiping, the group's internal temporary meeting was held until 11 o'clock in the evening, and during this period, Liu Wei participated through remote video.

In the end, after taking into account the interests of the group and the opinions put forward by everyone.

On the second day, Jiang Weiping made up his mind and, under the arrangement of his secretary, set off for Yuhang to prepare for a meeting with Su Yu.

During this period, Su Yu also convened Liang Bin and He Qian from the company's venture capital department to discuss the investment in 'Tianqi Lithium'.

"Mr. Su ......"

After Su Yu preliminarily explained the two investment plans, He Qian couldn't help but say: "Tianqi Lithium is only a billion yuan in assets, in recent years, it has been on the profit and loss line, and the market value is less than 3 billion. It is impossible for them to relinquish control, and even if they do, it is ...... There is no real use for us to acquire such a business. ”

"Let's talk about 'Talison' again......"

"Resource enterprises, when the cycle reverses, do have a very large potential for performance explosion."

"However, this still can't change the essence of the 'cycle', take the domestic coal companies as an example, how miserable this year is, Su should always understand."

"We gambled into the 'Apocalypse Lithium' bureau."

"It is possible to make a lot of money in the future, but there is also a high probability that there will be huge losses, after all, no one can guess the top and bottom of the cycle."

"Indeed, the 'lithium' thing, with the current technology follow-up, the use is expanding, and the demand is also slowly increasing, but to enter a comprehensive outbreak period, that is, what you call the competition for lithium resources, lithium resources are very tight, and the global demand is far greater than the supply, which is still very far away."

"Resource reserves, competition for the right to speak."

"That should be something that the state considers, and we as an investment institution."

"The primary consideration is the development prospects of the investment enterprise and the profitability of the investment project."

"I also think that the investment of 3 billion yuan is too aggressive." In He Qian's opposition, Liang Bin thought for a while, and said, "Mr. Su, after the net value of the 'Yuhang No. 1' fund is ex-rights, the total cash flow returned by our company is more than 3 billion, so we can't bet all on the project of 'Tianqi Lithium', right?" ”

"Also, what do you think about the future of 'Apocalypse Lithium'...... Isn't it too optimistic? ”

"After the company landed on the small and medium-sized board for 10 years, more than 3 years, both revenue scale and net profit, have grown slowly, the only thing that can be commended is that their profit margin curve is quite beautiful, showing a continuous improvement trend, indicating that their cost control within the group has been declining, but such advantages, compared with nearly 2,000 listed companies in the two cities, it is obviously not enough."

"As for the future ...... of the industry as a whole"

"At the current stage, both domestic and foreign investment institutions, the judgment of the future development of this piece is relatively hazy, and few institutions are strongly optimistic about it, and large-scale involvement in the field of 'lithium resources' and 'lithium batteries'."

Su Yu saw that both of them were more opposed to their big bets on the 'Tianqi Lithium' project, smiled, but was not angry, and replied: "As an investment institution, the primary consideration is indeed the development prospects of the investment enterprise and the possibility of profitability of the investment project, however, ...... The essence of this premise, that is, the true meaning of investment, is to invest in people. ”

"Analogy......

Su Yu said with a smile: "Standing at the time node half a year ago, who would have thought that we'Yuhang Investment' would be able to come to the current asset management scale and have the current profit performance?" ”

"This is also true for Apocalypse Lithium."

"You only studied the current financial data, the current situation, and the development status of the company in five years."

"But I didn't carefully study the helmsman who was in charge of the group of Tianqi Lithium, I didn't study Jiang Weiping, I didn't think about why Tianqi Lithium made a big bet to buy 'Talison', and even did everything to borrow a large amount of money, and no matter whether I could afford it, I had to complete this overseas acquisition."

"You take a closer look at the operating data of Tianqi Lithium in recent years."

"When did its net profit margin recover? Why is the internal cost control of this enterprise significantly lower than that of similar enterprises? ”

"Also, where is its biggest cost?"

"Prospects, the expansion of market demand, the outbreak of the cycle, these factors are indeed important, but the core point of our investment in enterprises is people."

"After all, businesses are run and managed by people."

"In the same industry, on the same track, the difference in operation and management capabilities, and the final results of enterprise development are also very different."

"Through the analysis of various materials and data."

"We can see that since Jiang Weiping took over the control of Tianqi Lithium, the internal situation of this company has been improving, and the internal growth capacity has been in the leading position in the same industry.

"According to the operating data of Tianqi Lithium in the last five years, we can see ......"

"The group's biggest cost expenditure is the import of 'Talison' spodumene ore, and this import quota has shown a year-on-year growth rate of at least 30%, which has become the biggest burden for their group."

"This is an enterprise that has grown up in the desert of the industry, through internal cost suppression."

"Coupled with the helmsman's excellent management and management capabilities, as well as the overall strategic situation, I have no reason not to be optimistic about such a company."

"Moreover, because we have doubts about the future demand for 'new energy' and 'lithium batteries', the development of the industry, but also out of a hazy state, we have this opportunity to make full use of the funds in our hands to obtain the equity of the industry's best quality enterprises, as well as related high-quality chips, so as to enjoy the future growth dividend of the enterprise, as well as the industry outbreak dividend."

"Dapeng rises with the wind one day and soars up to 90,000 miles!"

"In my opinion, Tianqi Lithium and 'Talison', after solving the problem of raw material costs, after mastering the world's best quality lithium resources, is the process of Jiaohualong."

"Also, the competition for the right to speak for industry resources ......"

"Maybe at present, it is useless, but in the future, with the development of the times and technology, it may become very important, which is not a national business, and it is closely related to each of us."

"It's like the status quo of the steel industry right now."

"Our steel production capacity has accounted for more than 50% of the global production capacity, but we can only account for a small part of the profits of the entire industrial chain, and even suffer from the raw material side, we do not master the core resources, no pricing power, even if the industry demand expansion stage, we only have meager profits to earn, which is the evil result of no advance layout and no forward-looking vision."

"The company 'Talison' is not an ordinary enterprise on the lithium resource side."

"It is a resource-based company with the world's best quality spodumene ore, if it were not for this time, the company has an extreme loss situation, and the industry happens to be at a low point in the cycle, it is basically unrealistic to win a controlling stake in such a monopoly resource-based foreign company."

"So, both from an investment perspective and from a macro-strategic perspective."

"Since 'Apocalypse Lithium' took the initiative to find us and the opportunity came to us, we can't miss it."

"Of course, the investment amount of 3 billion is just the initial intention I said to Mr. Liu, and it really counts...... With the size of Apocalypse Lithium and the current situation of 'Talison', they can't eat so much money, according to my calculations, the final 2 billion funds should be enough. ”

"After all, as a direct competitor to Apocalypse Lithium's acquisition of 'Talison'.

"Although Knockwood is very strong, but in the future industry prospects, for the 'Talison' merger and acquisition intention, if the final acquisition cost exceeds too much, they estimate that it will be difficult to bear, and there is a high probability that they will choose to give up."

"I think Mr. Su is right." After listening to Su Yu's views on this investment, Li Mengying, who had not spoken on the side, said, "The foundation of investment is still to invest in people, and the general manager of 'Tianqi Lithium' dares to gamble on his decades of accumulation, and even mortgages all the assets under his name to the bank, and fights to the death to promote the acquisition of 'Tianqi Lithium' by 'Talison', which should fully weigh the risks and have a deeper understanding of the future development of the industry." ”

"If the final investment amount, it does not exceed 2 billion."

"For our 'Yuhang Investment', although it is also an unprecedented large investment project, under our essentially very abundant cash flow, it will not hurt the foundation of our company at all."

"So, all things considered......"

"Although this project investment has certain risks and uncertainties, it is still worth investing!"

"Okay!" Seeing that Li Meng was also on Su Yu's side, He Qian thought about it and felt that what Su Yu said also made some sense, and finally couldn't help but agree.

And Liang Bin, with the consent of all three of them, it doesn't matter whether he expresses his opinion or not.

After the unification of investment opinions, the next discussion was discussed about some of the possible conditions of the plan proposed by 'Tianqi Lithium' in the future, and how to strive for a more reasonable investment strategy that can achieve a win-win situation for each other in the negotiations between the two parties.

In the end, Su Yu invited the three of them to dinner.

Then, in the afternoon, I bid farewell to my sister at the airport, and at the invitation of Yang Hao, I went to see a luxury high-end real estate built by Kumho Group as a core project in the Bin*** business district not far from the financial city, and spent more than 10 million yuan to buy a large flat-floor landscape house of nearly 400 square meters on the top floor.

"This house, not bad!"

Yang Hao saw Su Yu standing in front of the window, looking at the entire Yuhang City from afar, and said with a smile.

"It's okay!" Su Yu replied lightly, "Located in the core and with a wide field of vision, speaking of which...... The price you spent on this land at that time was not small, right? ”

"That's, every inch of land is expensive!" Yang Hao said with emotion, "Originally, this house was left for me by me, but seeing that you like it so much, I can only be a favor." ”

"Didn't you ignore the internal affairs of Kumho Group?" Su Yu said with some doubts.

"But after all, I am the majority shareholder of Kumho Group, so I will show you the house, which is still convenient." Yang Hao said, "Moreover, Yang Jincheng is Yang Jincheng, Kumho Group is Kumho Group, although I have some resentment in my heart, but I will not sprinkle this anger on the employees of the group, and this is a company founded by my mother, after I take over, I still hope that it can continue to be brilliant, after all, it is my mother's life's work!" ”

Su Yu looked at his sudden sentimentality, smiled, and said, "Let's wait until you take back control of the group!" ”

As he spoke, he began to leave the house he had just bought with Yang Hao.

"By the way, I asked Xinyu to have dinner in the evening, do you want one?" After taking Su Yu to visit the surrounding area of the real estate, when he left, Yang Hao asked.

Su Yu smiled and said, "Let me go to be your two light bulbs and watch you two show affection?" ”

"You can also call your Li Da Beauty." Yang Hao said, "You guy is now worth billions, don't be so pure-hearted all day long, desire...... It's just to vent out, I haven't been to a bar for a long time, or either of us won't call anyone, so let's go to the bar and charter a scene, how about drinking? ”

"Your sisters have not forgotten?" Su Yu warned, "Be careful that you are in the Ni family's bamboo basket for nothing, now there is the best chance to go further, replacing the Chen family, it is the Ni family, you guy, you can't seize this wave of opportunities, I'm afraid you won't have a chance to turn over in the future." ”

"Okay, okay, how do you feel that you are more anxious than me."

Yang Hao sat in his very eye-catching Ferrari sports car, waved his hand to Su Yu, and then disappeared from Su Yu's field of vision with one foot on the accelerator.

Su Yu smiled, took the contract from the real estate sales manager who had been waiting carefully, and got in the car and left.

Got home and rested for the night.

The next day, Monday, December 16th.

At 9 o'clock in the morning, Su Yu came to the company, and just after the morning meeting, Liu Wei, Jiang Weiping and the negotiators of the 'Tianqi Lithium' side arrived.

"Mr. Su, fortunately!"

Liu Wei saw Mr. Su, greeted him with a smile, and then quickly introduced to Su Yu: "This is the chairman of our group, I have reported to our chairman in detail about the investment ideas you told me the day before yesterday, and the chairman is very interested in it, so I came here in person today." ”

"Fortunately, Mr. Jiang." Su Yu looked at the middle-aged man introduced by Liu Wei and shook hands with the other party with a smile.

Jiang Weiping held Su Yu's hand and looked at Su Yu carefully, very unbelievable: "I really didn't expect Mr. Su to be so young, he is really a young man, and he deserves his name!" ”

"Hehe......" Su Yu said with a smile, "Mr. Jiang has won the award." ”

As the two greeted each other, Li Xiaoling, the secretary behind Su Yu, also greeted everyone warmly and led everyone to the conference room.

Arrived at the conference room.

Jiang Weiping saw that everything had already been arranged in the conference room.

couldn't help but smile and said: "It seems that Su always expects things like a god, I knew we were coming!" ”

Su Yu laughed and said: "Refreshing people talk about refreshing things, Sichuan and Chongqing are a family, how can I and Mr. Jiang be regarded as fellow villagers, in this case, the twists and turns of things, naturally can be reduced, I boasted to Mr. Liu the day before yesterday that Haikou was not broken, this point, please rest assured Mr. Jiang." ”

"So, let's get started!" Jiang Weiping admired Su Yu's cheerful attitude very much, and waved his hand to the secretary.

Immediately afterwards, the secretary took out a lot of relevant materials prepared in advance from the document bag in his hand, and of course, at the same time...... Li Xiaoling, who was standing behind Su Yu, and Liang Bin, He Qian, and other core members of the company's venture capital department who were beside Su Yu, were also flipping through the materials and preparing for each other.

"About the two investment proposals proposed by Mr. Su......"

While everyone was preparing, under Jiang Weiping's signal, Liu Wei paused and said: "After full internal discussion, we have chosen a more compromise plan, Mr. Su, take a look." ”

Saying that, Liu Wei handed Su Yu the plan of 'Apocalypse Lithium' after overnight discussion.