As for how to manage the market value of Weibo's subsidiaries, Fang Hong did not give specific strategic requirements for those institutions.

It's their business how to do it, Fang Hong won't care about how the secondary market is interpreted, whether it's skyrocketing or whatever, and he won't participate in his company's secondary market capital game.

There is only one requirement from Fang Hong, the PE valuation of Weibo subsidiaries cannot be lower than 70 times the static price-earnings ratio at the end of each year, and he will not care about how it fluctuates at the end of the year.

As a growing IT Internet company, it is not an exaggeration to give a price-earnings ratio of 70 times, after all, it is not a traditional manufacturing company or a financial company.

At present, Qunxing Capital is also actively promoting the listing project, in addition to the Weibo subsidiary that is about to land its boots, there is also Ruihe Pharmaceutical Group, which has completed the restructuring and was born from Hengtong Pharmaceutical Group.

This company is applying for an IPO on the GEM, which is progressing smoothly, and it should be able to complete the landing on the GEM by the end of this year.

The proposed issue price is 27.28 yuan per share, with a total share capital of 531.52 million shares, an IPO valuation of 14.5 billion yuan, and 122.62 million shares to raise 3.345 billion yuan, accounting for 23.07% of the company's total share capital.

After Ruihe Pharmaceutical Group is now in the smartphone industry debut that is the peak of Xingyu Technology, to strive to complete the listing before the end of 2012, unlike the normal process of Ruihe Pharmaceutical Group to apply for listing, Xingyu Technology is still taking the road of backdoor listing.

Weibo subsidiary and Ruihe Pharmaceutical Group are both listed at a valuation of 10 billion yuan, and the plates of the two companies are indeed not small, which can be regarded as mid-cap stocks.

However, compared with Xingyu Technology, it is definitely at the level of a monster, and its plate scale is an order of magnitude higher than that of the previous two companies, that is, a huge scale of 100 billion.

In fact, the backdoor target has been identified, but Qunxing Capital has not yet made specific moves, and has not even contacted the management of the shell company, which is currently in a highly confidential stage.

At present, the capital market generally gives a level of 1200~150 billion yuan for the valuation of Xingyu Technology, but this is based on the current valuation, and it is not expected to be this number in 2012.

With the blowout explosion of the smartphone industry in the next few years, the market value of Xingyu Technology is expected to surpass the first line in the universe in the future, become the largest giant in the A-share market in terms of market capitalization, and enter the top ten in the world in terms of market capitalization in the world.

Fang Hong gave a valuation expectation of 500 billion yuan for the 2012 time period from Xingyu Technology to the backdoor listing, and has now begun to implement the relevant work of the backdoor listing according to this figure.

According to the current proposed grass, Xingyu Technology backdoor listing, after the completion of asset injection, additional issuance of new shares and high transfer, the total share capital will increase to 186.5 billion shares, 65 billion yuan will be raised, the company's overall valuation is 500 billion yuan, and the corresponding resumption price after ex-rights is 2.68 yuan per share.

After the backdoor listing of Xingyu Technology, it took the path of low pricing, and it was placed on the main board of the Shanghai Stock Exchange, and shareholders with such a low stock price only needed 268 yuan to buy a lot, and any retail investor could participate in investing in it.

However, if the stock price is set low, it does not mean that the valuation is low.

It also depends on the company's total share capital, a total share capital of 186.5 billion shares, and those who don't know think this is a big state-owned bank.

A-share listed companies with a total share capital of more than 100 billion shares, there are currently only four major banks and two barrels of oil, and in the future, with the completion of the backdoor listing of Xingyu Technology, A-share listed companies with a total share capital of more than 100 billion shares will add a new member.

The listing of Ruihe Pharmaceutical Group and Xingyu Technology are two project targets that Qunxing Capital has put on the agenda, and those that have not yet been put on the agenda include Yixing Media Group, which is also going to land on the A-share market.

In addition, there is also an independent financial subsidiary, Yixing Video, which will also get to the A-share market, and a little further away is WeChat, which has just been approved, Kunpeng Technology, which was finalized a few days ago, and so on.

After this series of subsidiaries and subsidiaries of Qunxing Capital have landed on the A-share market, they will form the core asset target of the A-share market of "Qunxing" in the future.

……

On the weekend of May 2, Chu Changxing's Kunpeng Technology successfully obtained Fang Hong's 10 million financing funds, and the contract was signed on the same day.

The moment he signed this investment contract, Chu Changxing really put his mind at ease, and there would be no more variables.

After getting the money, Kunpeng Technology will open a new chapter after the company moves into the new city, and the goal in the second half of the year is one, which is to make efforts to bring the first generation of Kunpeng drones to the market.

……

Monday, May 3, Tokyo, around 10 a.m. local time.

A piece of news from the Greater China market reached the headquarters of TDK Corporation today, and the president of TDK Group looked at the secretary of the newspaper and was shocked: "Nani? Local investment institutions in the Greater China market offer 329.1 billion yen to wholly acquire ATL? ”

329.1 billion yen, or about 3.5 billion US dollars or 23.9 billion yuan excluding exchange rate changes.

His secretary nodded affirmatively and replied, "Yes, Your Excellency, and the offerer has promised to settle 100% in cash." ”

】

The president of the TDK Group was shocked when he heard this: "Direct cash acquisition? What is the origin of the acquirer? ”

The secretary briefly reported: "Qunxing Capital, according to the data, the company was established in August 2008, is a non-bank financial investment company, in recent years with an alarming speed of lightning rise, its investment style is aggressive, the magnanimity is shocking, and the successful investment in quantum beating, Xingyu Technology and other enterprises......"

The president of the TDK Group had already felt it, and he came up and offered 329.1 billion yen to buy ATL.

After briefly introducing the information of Qunxing Capital, his secretary added: "Your Excellency, according to the news from the Greater China market, the company is willing to give us three days to consider after making a wholly-owned cash acquisition offer, and if it exceeds the deadline, it will be regarded as a rejection, and Qunxing Capital will automatically abandon the acquisition, and they will refuse any form of counteroffer." ”

Hearing this, the head of TDK directly put a string of question marks on his head, and he was also stunned.

A look of hell.

Because this situation is the first time he has encountered it, so that he inexplicably feels that Qunxing Capital is playing with them, and the expression of this acquisition offer is too rash.

After reacting, the head of TDK Group confirmed the matter from the secretary again, and received a positive reply that Qunxing Capital really wanted to acquire, and the statements were true.

"How could they be eyeing ATL?" The head of TDK couldn't help but think about it, and was willing to give such an exaggerated premium, in 2005 he bought ATL for 100 million US dollars, and if he sold it to Qunxing Capital, it would be an astonishing report of 35 times in less than five years.

It's all cash acquisition!

In this case, anyone will subconsciously judge that ATL must have what they want, and they are so impressed that they want to get it at any cost.

Then you can't sell it easily, you have to figure it out.

At this time, his secretary suddenly said: "Your Excellency, maybe Qunxing Capital is probably considering the battery supply chain of Xingyu Technology?" ”

The head of the TDK Group nodded: "I don't rule out this possibility." ”

At present, ATL is the battery supplier of Xingyu Technology, and the head of TDK Group has long heard of this company, and Apple is making a fuss in the global technology circle about the "plagiarism door" incident.

After thinking about it for a while, the head of the TDK Group immediately convened a meeting of the company's executives to discuss the matter.

……