Gao Fei still remembers that before the filming of "BJ Meets Seattle" started, he once said that he wanted to have one with her when he was flirting with Gao Yuanyuan.

Now it seems that sometimes you really can't talk nonsense, otherwise you may become a prophecy at some point.

Thinking of this, Gao Fei, whose belief is already quite traditional, inevitably became a little suspicious for a while.

But fortunately, Han Li brought enough documents.

So when Goofy got busy, he didn't care about thinking about the little things between men and women.

……

"Boss, this is the company's financial statements for last year."

In the office, when Jiang Hong pushed the door in, he didn't drag the mud and water, and immediately chuckled and put a document in front of Gao Fei.

Hearing this, Gao Fei, who was still looking down at the document, immediately raised his head with bright eyes. didn't bother to talk to Jiang Hong, just opened the file directly.

In fact, Zhou Yi Film and Television's financial statements last year were very simple.

Because Gao Fei only acquired Zhou Yi at the end of 2009.

Therefore, strictly speaking, in 2010, Zhou Yi Film and Television only produced two film and television projects, "Embroidered Spring Knife" and "Zhu Xian".

As for "Strange Man Yizhimei", although it is also under the banner of Zhou Yi's production, because the drama was filmed before Gao Fei acquired Zhou Yi.

Therefore, there is no figure in the financial report of Zhou Yi Film and Television in 2010.

It's just that even so, when Gao Fei read the report, the corners of his mouth still couldn't stop rising, and he laughed happily.

No way, although Zhouyi's output last year was low, but the quality is high!

……

First of all, there is no need to talk about the film business, although Zhou Yi only produced one "Embroidered Spring Knife" last year.

But the box office income of 580 million is enough to make Zhou Yi proud of most film and television companies in the industry.

Because of the box office share of "Embroidered Spring Knife" plus the copyright transactions of other channels and the licensing fees of the Internet, TV stations and other channels, the gross profit has reached 350 million.

After deducting the cost and investment share, on the project "Embroidered Spring Knife", the net profit of Zhouyi Film and Television is 203 million.

Tsk ~ this number...... Before Huayi was listed, the total profit of the film business was probably just that.

】

However, the reason for this situation is not that Huayi is rubbish, nor is it how awesome Zhou Yi Film and Television is.

There are many reasons for this.

But all in all, it can only be said that Goofy is lucky, and it is a good time to catch up!

After all, if it was changed to the film market a few years earlier, even if he had great ability, it would be in vain.

Compared with the big profits of the film business, Zhou Yi's TV drama business is not far behind.

After the first round of "Zhu Xian" sold a sky-high price of 204 million, because the ratings after the broadcast were hot, the follow-up second, third and fourth rounds of broadcasting rights were quickly favored by TV stations around the world.

However, according to the practice of the industry, the distribution income of TV dramas mainly comes from the first round, and the proportion of distribution income in subsequent rounds of total revenue is low.

Therefore, even if the broadcast rights of the second round, the third round, and the fourth round are added together, it is not more than half of the first round of sales.

In the end, it only sold for 96 million.

Goofy wasn't too surprised by this, because everyone does.

However, if Youku's 60 million network copyright fees are counted, then Zhou Yi Film and Television's total income in the project "Zhu Xian" is almost 360 million.

Even after deducting the cost of 100 million, Zhou Yi's net profit in the TV drama business is 260 million.

However, this data is generally in line with the situation in the industry.

Because the TV drama business of major domestic film and television companies is basically more profitable than the film business.

Everyone in the circle knows that as long as you have the right connections in TV stations, then TV dramas are definitely the most suitable business.

Even if you don't have top-notch production skills, you can still make a lot of money.

After all, compared to movies, TV series are much less risky.

Generally speaking, only if the TV series produced is willing to be purchased by the TV station, then the profit will basically remain above 50%.

If you are lucky and accidentally bet on the right theme to produce a high-quality drama, then the profit can reach almost 100%.

And the genre like "Zhu Xian" is basically a hit drama.

Even if the average film and television company has that luck, it may not have that strength.

This is also why it is difficult to produce popular dramas.

But then again, in the case of such a lucrative TV series, there are actually two reasons why major companies are still thinking about developing their own film business.

One of the main reasons is that major TV stations usually do not pay the purchase money in one go, but pay in installments depending on the broadcast situation, and pay the balance after the last episode is broadcast.

This payment model is very disadvantageous for film and television companies.

Because they not only have to bear the risk of overstocking funds, but sometimes even have to pay for the ratings themselves, even under the hint of the TV station.

In this way, it is inevitable that there will be another additional expense.

In the past, such a situation was often encountered in the old Zhou Yi era.

Even if Gao Fei has now taken over Zhou Yi, he has to play according to this established rule.

Although Zhou Yi doesn't need to buy ratings now, the final payment has been pressed a lot.

But for such a situation, Gao Fei can't blame the partner.

Because this is the practice in the industry, if the TV station pays the full amount in one go, it will break the rules of the industry and offend some people who don't need to be offended.

Therefore, even if the major TV stations want to make friends with Zhou Yi Film and Television this time, they can only do it according to the rules.

For TV drama production companies, it is indeed a very sincere move for TV stations to pay on time.

So don't look at the previous Zhou Yi, Tang Ren, and Jin Yingma in the field of TV dramas, it seems that they are calling for wind and rain, but in fact, their ability to resist risks is completely inferior to that of Huayi Brothers.

Because although they make a lot of money, a lot of it is pressed by the TV station!

Another reason why major domestic film and television companies always want to develop their own film business is that although the profit of TV dramas seems to be stable and more, its upper limit is far less than that of the film business.

If nothing else, let's take last year's domestic box office champion "Avatar" as an example.

The box office of this movie in China alone is 1.428 billion!

This shows that the domestic box office ceiling of movies is far higher than everyone thinks.

And if any film and television company produces a movie that can get this box office, how many TV series must it be worth?

So in the final analysis, it is the market that determines the direction of production!

……

"Total revenue: 710 million"

"Net profit: 463 million."

Looking at the final statistics of the financial report, Gao Fei immediately nodded with a smile on his face.

"Well, yes, it's better than I expected!"

"Contact the people of Wanda Cinemas and Penguin Ventures, it will be a waste of time to delay any longer!"

As soon as these words came out, Jiang Hong's eyes suddenly lit up, and he immediately bowed slightly.

Then he went down with high morale to arrange follow-up financing.

After all, as Zhou Yi's CFO, this is originally her job.

……

Not to mention how wonderful Jiang Hong's inner drama is.

Just said that the news of Zhou Yi's film and television financing this time had actually spread at the beginning of the year.

Because as early as the celebration banquet of "Embroidered Spring Knife", Ye Ning tested Gao Fei once on behalf of Wanda.

Since that day, Goofy has actually received several similar phone calls.

But to be honest, there are not many reliable ones, and even fewer are valuable.

After all, Gao Fei didn't just want to get money this time, he wanted to take the opportunity of financing to strive for more development space for Zhou Yi Film and Television.

Therefore, after several private exchanges, Goofy only favored two investors.

One is Wanda, which has the top cinema resources, and the other is the penguin with the top publicity resources.

It's just that after the initial contact, the two sides have obvious differences about the valuation of Zhouyi Film and Television.

Goofy thinks the valuation they're giving is too low, while Wanda and Penguin feel Goofy is opening his mouth in the lion.

So after some communication, Gao Fei dragged things out until now.

But then again, how to value a company in China is actually a "metaphysics", and some companies use this "metaphysics" to make a fortune.

Because the essence of company valuation is to determine the price of equity financing, so as to determine the price of the enterprise.

This is very subjective.

After all, even if it is a leather bag company, as long as the investor thinks it is worth billion, and is willing to take 100 million in exchange for 10% of the shares.

So literally, the valuation of this leather bag company is one billion!

Therefore, the chaos of the valuation of film and television companies is very common in the industry, because the more subjective things are, the easier it is to breed bubbles.

Of course, in practice, it is not so rude.

Because with the invention of economic experts, the P/E ratio is an indicator that can flexibly hide everything subjectively under cold data.

It is precisely for this reason that most of the companies in many industries in China, whether listed or unlisted, Internet companies or film and television companies, have very exaggerated price-earnings ratios.

P/E ratios range from 8x to 200x!

！

The root cause is that their "subjective expected value" is much higher than their "actual value"!

Of course, there are informal ways to play, and there are regular ways to play.

From the current point of view, the film and television industry can be said to be the foundation of Gao Fei's life.

Therefore, Gao Fei naturally will not kill chickens and eggs, and play those tricks that overdraw his vitality.

And Wanda and Penguin are ready to invest in Zhouyi, not to make a quick buck, or to improve the life of their bosses.

Although Goofy does not know much about the internal development plans of the two companies.

But through communication with the people in charge on both sides, he can probably confirm that Wanda and Penguin are making strategic investments rather than financial investments this time.

So overall, the differences between the two sides are not very big.

……

The next day, at four o'clock in the afternoon.

When the door of the conference room, which had been closed for a long time, finally opened, the Zhou Yi staff who were working outside couldn't help but feel tight.

Although Goofy did not publicize it, he did not prohibit the spread of the news either.

Therefore, now Zhou Yi Film and Television almost knows that Zhou Yi is about to usher in the first round of financing.

So even a person with a big heart has no intention of working at the moment.

After all, what is being discussed in the conference room right now is related to the money of all of them!

Thankfully, Goofy didn't disappoint them after all.

I saw that when the door of the conference room opened, Ye Ning, the person in charge of Wanda Cinema Line, stood at the door and held Gao Fei's hand with a face, and said with emotion:

"Mr. Gao really surprised me today!"

"Sure enough, it's a hero out of a teenager. Admire, admire! ”

Hearing this, Gao Fei immediately smiled unabashedly happy, and then patted Ye Ning's shoulder enthusiastically and said:

"Mr. Ye has won the award, and Zhou Yi will have to rely on you to take care of it in the future!"

"I wish us a happy cooperation!"

After a few polite words, Gao Fei watched the Wanda team leave with a smile on his face.

Seeing this situation, the staff on the side still didn't understand that it must have been negotiated, so they immediately couldn't help but cheer quietly.

It's just that they are curious about the specific details, but they are more and more scratched.

So when Han Li sent the guest back, the group of assistants from the Ministry of Economic Affairs immediately came up and surrounded her.

is coquettish and cute, and he does everything, which makes Han Li a little crying and laughing for a while.

However, seeing that they were really curious, Han Li thought about it and didn't sell it, after all, even if she didn't say it now, she would have to make an announcement later.

So she immediately said helplessly with a smile on the corner of her mouth:

"Okay, don't shake it, it's falling apart if you shake it!"

After suppressing a few assistants, Han Li couldn't hide her joy and told the final result of this financing.

That is: Wanda Cinema Line and Penguin Ventures will each acquire 10% of the shares of Zhouyi Film and Television at a valuation of 5 billion.

In other words, this financing Zhouyi Film and Television has raised a total of 1 billion funds.

As soon as Han Li's words came out, whether it was the old employees of Zhou Yi or the new employees who came in later, they couldn't help but feel a little overwhelmed while being happy.

Even if they know that the movies and TV series produced by the company last year made a lot of money, this cannot change the fact that Zhou Yi was on the verge of bankruptcy a year ago.

But now that just one year has passed, and the company that was acquired by Gao Fei for 320 million is worth 5 billion?

Anyone who estimates that this will have to be slow, you must know that even if you grab money, it is not so fast!

It's just that these employees don't know that Zhou Yi's valuation of 5 billion seems exaggerated, but this is actually a very conservative valuation.

Because Zhou Yi's net profit last year was 463 million, on this basis, Zhou Yi's PE financing this time was only 10 times.

That is, Zhou Yi, Wanda, and Penguin didn't want to play any game of drumming and passing flowers, otherwise if he changed someone, such as Wu Kebo of Orange Sky, then he would definitely make this number billions more.

Of course, Goofy also likes money, so he also tried to increase the valuation during the negotiations, but Wanda and Penguin are willing to pay for the high valuation, but only if they get more shares.

In this way, it is tantamount to giving Goofy a choice.

If he wants to cash out and enjoy life immediately, maybe the valuation will reach 10 billion.

It's just that the premise of doing so is that he must hand over the controlling stake in Zhou Yi and become a minority shareholder with peace of mind.

And Goofy naturally won't allow that to happen.

So in the conference room just now, the two sides were almost about to fight over valuation.

In the end, of course, an agreement was reached that was acceptable to both parties.

……

At the same time, inside the president's office.

When Han Li came back, she saw that Jiang Hong was still there and said something regretfully.

So after she closed the door casually, she couldn't help but chuckle and shook her head:

"I think it's a pretty good result."

"You must know that Huayi was only listed at a valuation of 4 billion the year before last!"

"There is also optical fiber media, I heard that the valuation given to them by major brokerages this year is only six or seven billion."

Speaking of this, Han Li, who was sitting on the sofa, couldn't help but stretch out with satisfaction and said with a smile:

"Compared to them, our valuation is already good!"

I didn't want Jiang Hong to hear this, but she directly retorted:

"You also said it was the year before last, what is the market now? Can that be compared to the year before? ”

In Jiang Hong's view, as the domestic film and television market becomes more and more prosperous, the valuation of film and television companies that will rise in the future will inevitably become higher and higher.

Because they can easily achieve the seemingly exaggerated profit targets of film and television companies in previous years.

Therefore, Jiang Hong felt that Zhou Yi was completely limited by cognition, and should try boldly.

As for Jiang Hong's point of view, Gao Fei actually agrees.

For example, if Huayi Brothers were listed this year, then their listing valuation would only be more terrifying.

However, early has the advantage of being early, and late has the advantage of being late.

A lot of things have to be looked at from two angles.

Just like this time, although Goofy seems to be conservative in valuation, he got what he wanted.

Because in addition to the much-needed billion in cash, Wanda and Penguin have also promised to provide equivalent theatrical support and promotional resources.

And this is the reason why Goofy finally relented, because there are some things that can't be bought with money......