"Mr. Du is a big name in the domestic investment community, and I am also like thunder." Su Yu said with a smile.

"Haha......" Mr. Du laughed, "Mr. Su is polite, I am just a small person, there are many talents in the domestic investment community, compared with the industry bosses, I am really nothing, but Mr. Su, your right and left hand, Mr. Liang is very powerful, I have met and talked with him several times, and I can benefit a lot every time." ”

Liang Bin sat beside Su Yu, heard Mr. Du praise himself like this, coughed lightly, and replied with a little embarrassment: "Mr. Du is really polite, in fact, when it comes to the current macro economy, investment insights in various industries, our Mr. Su is much better than me, in the past, I discussed some topics with Mr. Du, and many of the insights came from our Mr. Su." ”

"Really?" Mr. Du was surprised, "Mr. Su also has a deep insight into the primary market? ”

Su Yu smiled and said, "I can't talk about it." ”

"After the investment project of Yanjing Sankuai Online was given up by Hongshan Capital, in fact, as long as you'Yuhang Investment' are willing to participate, there is basically no suspense." Mr. Du said, "Actually, in a sense, we at 'General Atlantic Capital' have to thank you for your timely investment. ”

"After all......"

Mr. Du paused and continued: "After all, if you don't participate in the investment in time, with the B round of financing plan signed by Mr. Huang of our 'General Atlantic Capital' and 'Yanjing Sankuai Online', once Hongshan Capital gives up and Ahri Baba has no intention of subscribing for shares at the time of listing, we'll need to eat all the shares of the entire Series B financing plan alone, which is still quite a lot of financial pressure for our company." ”

"Hmm!" Su Yu nodded, "I have also heard that your company's overseas institutions have recently made frequent moves in the direction of investment in other industries, resulting in a sharp decrease in the share of investment in China. ”

Mr. Du said in surprise: "Mr. Su's news...... It's not an ordinary psychic! ”

Su Yu smiled and said: "As our investment partner, Mr. Du should understand the necessary information, right?" I have heard that your head office intends to shift the focus of investment to the semiconductor industry and the 'mobile Internet' industry in the future, and further narrow the scope of investment, especially the share of investment in China. ”

"Indeed." Seeing Su Yu mention this, Mr. Du did not hide it, "At present, the primary market investment of 'mobile Internet' is in the tuyere, and the heat is very high, and many investment institutions believe that this is the most extensive application market in the development of the future era, and it is also the most extensive traffic entrance that can be predicted. ”

Su Yu agreed, nodded, and said, "This expectation is not wrong. ”

"There's nothing wrong with expectations." Mr. Du said, "But when everyone can foresee the situation, does Mr. Su think that there are still cheap investment opportunities in the market?" Now in this field of 'mobile Internet', even if it is a start-up start-up, the valuation of Series A financing has been speculated to the sky, how much future excess profit can there be in it? ”

"The investment market seems to be booming, but in fact...... The more prosperous the place, the greater the risk. ”

"I have a feeling in a trance......"

Mr. Du paused for a while, squinted his eyes, and continued: "At present, everyone's pursuit of primary market investment projects in the field of 'mobile Internet' has been a little bit like the chase of Internet companies around 2000. ”

"So......" Su Yu said, "Du is always not optimistic about the investment direction of 'mobile Internet'?" ”

Mr. Du said: "It's not that I'm not optimistic, in fact, in this direction, some new technology giants will definitely be born in the future, and a number of companies with a market value of 100 billion yuan or even trillions of market value will grow. ”

"It's just relatively ......"

"I don't really like the investment atmosphere in the entire investment market at this time, and I feel that the investment atmosphere of 'mobile Internet'-related companies is too hot."

"Of course, being hyped too hot, in essence, is not a problem."

"The real problem is that from the current point of view, there are still very few investment opportunities with more certainty."

Su Yu said with a smile: "Although Mr. Du said so, the valuation given by you'General Atlantic Capital' in this round of 'Yanjing Sankuai Online' Series B financing plan is not cheap, and not only is it not cheap, but it is also significantly higher than the average valuation of this company by major institutions in the market, that is, because this project, in the investment you lead, the valuation given exceeds the general valuation of market institutions, so the institutions that follow the investment are so hesitant." ”

"Good things naturally seem more expensive." Mr. Du said, "In my opinion, although we have given a valuation of nearly 30% more than the market for the 'Yanjing Sankuai Online' project, in terms of its development and future growth potential, I think this project is the cheapest project among our 'Transatlantic' investment in the past two years." ”

"It's a pity that ......"

"In terms of the overall investment strategy, the group is reducing the scale of investment and projects in China."

"Otherwise, from the perspective of my heart, I am not very willing to look for investment partners to join forces to eat into this project together."

"Oh, really?" When Su Yu heard Mr. Du's words, he was skeptical, and said with a smile, "Then it seems that our 'Yuhang Investment' has picked up a big bargain this time." ”

"Don't Mr. Su think so?" Mr. Du said with a smile.

Su Yu responded: "I think we can both come this far, and we can sit here today and talk openly, which is naturally because both sides have common interests and carry sincerity...... The reason why our 'Yuhang Investment' is so actively in contact with Mr. Du also shows that our company recognizes the valuation level given by your 'General Atlantic Capital' in the project of 'Yanjing Sankuai Online', and also believes that Mr. Du said that you get what you pay for, and good things are always more expensive. ”

"Mr. Su, when you conducted an in-depth investigation of the company 'Yanjing Sankuai Online', you shouldn't have read its detailed data of the user growth report and business volume growth report in the past two months, right?" Mr. Du said, "Before that, in a sense, we all underestimated the potential of the 'group buying' market. ”

"I've never underestimated all along." Su Yu smiled and said, "Mr. Du, you said so much, you won't think about changing your previous plan at this time, right?" In this way, it can be ......"

Su Yu saw that the other party was saying that the project of 'Yanjing Sankuai Online' is a very potential and cost-effective investment project, and he has been emphasizing the concept of 'expensive and expensive' in the investment market, and it seems that the word 'price increase' is almost straightforward.

The other party's words made Su Yu feel very uncomfortable.

So I thought about it for a long time, and in the other party's repeated emphasis, I couldn't help but speak directly.

This project has dragged on for so long, Liang Bin and He Qian ran at both ends of Gangcheng and Yanjing, and it took a lot of effort to talk about this point, if it drags on further, with the investment market, the investment field of 'mobile Internet' is getting hotter and hotter, and it will only become more and more unfavorable for the purpose of them to win this project.

At the same time, the other party is expressing the hope that their 'Yuhang Investment' will further make profits when participating in this project, but what the other party said is that on the basis of laying the leading position of the domestic 'group buying website', the company has rapidly increased the number of smartphone users and the exponential explosion of the user scale of the 'mobile Internet', and its company's business scale, revenue scale, and user scale are also exponentially soaring.

In other words......

If they are at the last step of the negotiation at this time, they give up the subscription of the share of the B round of financing of this project.

Then, even if the 'General Atlantic Capital' led the investment cannot eat such a large investment share alone due to the group's investment strategy, it will not be difficult to find a cooperative institution immediately, maybe...... Hongshan Capital, which gave up its co-investment two weeks ago, has already regretted it at this moment.

"Mr. Su misunderstood." Mr. Du said with a smile, "Since I have met with Mr. Liang several times, I have made a preliminary agreement on the corresponding collaborative investment, and now I have made an appointment with Mr. Su in Hong Kong City, then I have no regrets, after all, everyone is in the shopping mall, no matter whether you make money or not, reputation is always the first, since I have promised you to jointly invest in the 'Yanjing Sankuai Online' project and jointly eat the share of the B round, it is impossible to attach any other conditions, this is ...... Please also ask Mr. Su to relax as much as possible. ”

"What does Mr. Nadu mean ......"

After Su Yu made his words clear, he was slightly stunned when he heard the other party's answer, and for a while, he suddenly couldn't figure out what the other party meant.

Mr. Du said with a smile: "In business, since I am still in the position of general manager of 'General Atlantic Capital's Asia-Pacific investment, I have the obligation to seek the greatest investment benefits for the company as much as possible and find the best investment opportunities in the market...... Su was always able to do me a favor. ”

When Su Yu heard this, his heart suddenly changed, and then he understood the real purpose of the other party's appointment to meet him to Hong Kong City.

Thinking of this round of investment plan for 'Yanjing Sankuai Online', the other party did give face and surrendered some benefits, Su Yu pondered for a while, and asked tentatively: "Compared with the 'General Atlantic Capital Group' where Mr. Du is located, our 'Yuhang Investment' is only a small company, and the help we can help is probably very limited, of course...... As long as we are within the scope of our ability, Mr. Du needs, we will naturally do our best. ”

"Mr. Su is really a straight person, with Mr. Su's words, it is enough." Mr. Du smiled lightly, looked at Su Yu seriously with a pair of eyes, and after a while, asked, "What do Mr. Su have thoughts on the industrial field of 'new energy vehicles'...... What do you see as the future potential of this field? ”

Su Yu didn't expect the other party to change his words, suddenly mentioned the concept, and said with a smile: "The expectations are very good, and the story is also good, but at present, it is always just a concept, and there is no substantial technological breakthrough...... Mr. Du is very optimistic about this field. ”

"Yes, very optimistic!" Mr. Du said almost without any hesitation, "Not long ago, I went to the Japanese market and our domestic related market companies that are doing this, and found that this concept that has been shouted for several years seems to have the possibility of technology and route landing all of a sudden." ”

"Which companies did Mr. Du inspect?" Su Yu asked with some curiosity.

Although Su Yu, as a reborn person, knows that this field will fully explode in the future, and it is a big market for 10 trillion level investment that cannot be ignored, but standing at the current time node, analyzing the entire automobile industry, it can be seen that this route has the investment vision of technology and product landing possibilities, Su Yu still feels a little too advanced, and he is inevitably a little shocked in his heart.

Mr. Du said a list of the 'new energy vehicle' industry companies he mainly inspected.

Su Yu listened carefully and found that except for the more well-known ones in his inherent impression, the others were not impressed, of course...... What he paid attention to was that the other party mentioned the 'Ningde Era', a world-class rookie giant in the field of 'power battery' in later generations.

Of course, the 'Ningde era' has not yet grown up at this moment.

Whether it is the technical route of the power battery researched or the technical reserves, it is still relatively lagging behind several other companies in the Japanese and South Korean markets.

"Ningde era!" Su Yu said softly, "After Mr. Du's inspection, what do you think of this company?" ”

Mr. Du saw Su Yu suddenly mention this company, his eyes suddenly lit up, and he said with a smile: "Mr. Su is really insightful, at a glance I saw the most potential of a company, to be honest, after I inspected, I chatted with the two presidents of their company, and the confidence in the development of their company can be described as full, this company was established in 2011, counting...... Until now, it is only 3 years, but its core entrepreneurial team, are from the well-known Japanese enterprises, its technology development, technology accumulation is quite strong, although it was established only 3 years, but the business development is quite rapid, at present, in the 'power battery' this route, whether it is technology or products, are in the forefront of the industry, although the application scenario can not be landed, but the future is expected to ...... That's great! ”

"Mr. Du has taken a fancy to this company?" Su Yu suddenly understood and said with a smile.

Mr. Du responded with a smile: "I really can't hide anything from Mr. Su, as far as I know, the two Zeng presidents are quite clear about the development route of the company 'Ningde Era', of course...... It also stems from the fact that the two of them have rich experience in corporate management, according to them, at this moment, "Ningde Times" has reached a critical period in the research and development of technical routes, in order to further lead the opponent in technology and further deepen the field of "power battery", they intend to start the first round of financing plan. ”

"Isn't that great?" Su Yu said, "Mr. Du can take the opportunity to intervene." ”

Mr. Du sighed lightly and said, "Which is so easy, I sorted out the relevant research data and asked the headquarters for their opinions, but it was rejected without surprise." ”

"Denied?" Su Yu was slightly stunned.

On the timeline at this moment, in fact, the investment in the field of 'new energy vehicles' is not cold.

Not to mention the frequency of attacks by various institutions in the primary market, even in the secondary market, in the second half of the year, Warren Buffett, the stock god, did not hesitate to increase his stock after inspecting BYD's factory, which shows that it shows ...... Global investment institutions have always had expectations for the future of this field.

It stands to reason that at this time, 'Ningde Era' has already demonstrated its technological advantages and product competitiveness in the industry.

As long as the financing needs are reasonable, it should not be a straightforward rejection of an investment plan proposed by a core manager within the group, a well-established global investment institution such as 'TransAtlantic'.

"It's the two presidents of the 'Ningde Era', and the requirements for financing are too high, right?" Su Yu thought for a moment and asked.

Mr. Du nodded and said, "That's true!" ”

"What is the expectation of financing needs?" Su Yu asked curiously.

Mr. Du responded with a smile: "$1 billion, 20% share financing terms." ”

"A market valuation of $5 billion, close to a market value of $35 billion?" Su Yu's eyelids jumped, "No wonder the investment plan reported by Mr. Du was directly rejected by your group without even further research and review." ”

Although the market value of 35 billion is less than a fraction of the market value of trillions at the peak of the later generations of the 'Ningde era', at this time...... The company was established for 3 years, the technical route is not fully mature, the future product application market is still vague, "new energy vehicles" is purely still in a concept, the market valuation requirement of 35 billion is still too outrageous, after all, at this time, "Meituan", that is, "three fast online" company in the B round of financing, also dared to ask for a valuation of 3 billion US dollars, less than 60% of the "Ningde era" at this moment.

(End of chapter)