Reborn, you call this an honest person?

Chapter 212

In 07, the number of netizens was 2.1 million, but Pinxixi had 4 million registered users (heads cut off with a knife), 1 million monthly active users, and 2 million daily sales.
Yanxuan Mall has 5 million registered users, 2 million monthly active users, 4 million daily sales, 4 million registered users of Taobao, 2 million daily sales, plus Alipay, B2B, China Yahoo, etc. total valuation 530 billion,
In 07, it can be said that the country was still relatively poor, and the total GDP was only 27 trillion yuan, which was an increase of 2021 times compared to 114 trillion yuan in 5.
Not to mention 07, even in 2015, the domestic GDP per capita is still very low, so low prices are king...

After 2018, everyone has become richer, even the rural areas have become richer, and few people use Pinxixi anymore, so Pinxixi will plummet.

So at this time, Pinxixi is basically invincible. A single Pinxixi is worth more than Yanxuan's entire group, and everyone agrees.

Originally, Wang Heng and Ma Yun wanted to engage in the new company's acquisition of the old company's routine, diluting the equity of the original Ari Group shareholders,
The two conspired for a month, but they failed to make a breakthrough. After all, they had to dilute their equity. The start-up company would not say 500 billion, but the minimum would be 200 billion.
The valuation of 200 billion is not what Wang Heng and Ma Yun can talk about. At least it is reasonable to a certain extent, and it can stand the evaluation of international evaluation companies.
How about Wang Heng and Ma Yun each paying 500 yuan to register a universe company, and then valuing themselves at [-] billion to merge Yanxuan Group?
This is not diluting the equity of minority shareholders. This is an obvious robbery. The two of them do it today and have to send it in and lock it up tomorrow.

Of course, there are ways to operate it, but it takes too long and Ma Yun can't wait, so the plan can't keep up with the changes, diluting the minority shareholders' equity and the two give up.
The share exchange meeting between Pinxixi Mall and Yanxuan Group was held at Hangzhou Hotel.

Yanxuan Group is represented by Ma Yun, and its shareholders are Hengda Group Wang Heng, Yahoo, Softbank, Taishan Club,

There are many shareholders in Pinxixi Mall, including Hengda Group, Yahoo, Tencent, Softbank, Goldman Sachs, and representatives of Li Jiacheng and Li Yaoji.
This is still the major shareholder of Pinxixi Mall. If all the investment shareholders are estimated to be more than 100,

After the representatives of all shareholders were in place, Ma Yun, as the leader, delivered a speech first.
"This time, Pinxixi Mall and Yanxuan Group are cooperating to exchange equity. Equity exchange is based on the face value of the valued stock. Before the share exchange, I will listen to the opinions of shareholders again. First, I would like to invite Pinxixi shareholders to speak! "

After Ma Yun finished speaking, Wang Heng raised his hand in cooperation,
"I have no opinion."

Yahoo then raised his hand, "I have no objection either!"

Yanxuan Group is obviously forcibly underestimated, and b2b is on the way to listing, and Yahoo is fighting for Xixi Mall, which has more equity than Yanxuan Mall.

Softbank raised his hand,

Ma Yun glanced at it and said, "Representative of Softbank, Pinxixi Mall is voted now, Yanxuan Group will wait for a while."

"Softbank also owns equity in Pinxixi Mall. As a representative of Softbank, I have something to say."

"I'm sorry, Softbank has no right to speak in Pinxixi Mall, Mr. Ma, you continue."

Softbank's shareholding in Pinxixi Mall is too low, less than 5%. Wang Heng directly canceled the Softbank representative's right to speak.
The representative of Softbank was very depressed. He could only watch as Softbank's stake in Yanxuan Group was diluted.
……

The people in the Taishan Club did not raise their hands. They knew that raising their hands was meaningless, so they kept silent.
Ma Yun saw that everyone had no opinion, um, it’s useless to have an opinion, not to mention Wang Heng, the controlling shareholder of the chairman, but the major shareholder of Pinxixi Mall who didn’t want to annex Yanxuan Group, so the exchange of shares, The vast majority are in favor,

"Then proceed to the second issue of share expansion."

After Ma Yun finished speaking, this time the representative of Softbank, who was still in the Taishan Clubhouse, couldn't hold back, stood up and said,
"The Yanxuan Group hasn't voted yet!"

Ma Yun looked back at them and said, "Yanxuan Group, I and Mr. Wang have more than 67% absolute control regardless of voting rights or shares, so we don't need you to speak if we have no objections."

In Ari's era, Ma Yun had to maintain his relationship with Softbank every three days. For the sake of power, he almost called Sun Yi's father, and because of the Taishan Club's stock exchange from Yahoo,

Ma Yun is even turned into a grandson, so counting, he actually hates these two companies even more. The grievances between Wang Heng and him are nothing, even if Yahoo competes with him for control of the Ahri Group. bear the grudge,

The representative of Softbank yelled in the language of their country directly, "Baga, yours is really bad, and mine will never invest in our company again."

Wang Heng stood up and scolded,
"Shut up for me, and then bb get out!"

Softbank’s investment in China is really profitable. Ari, Pin Xixi, JD.com, and Douyin all seem to have his investment.

If it weren't for the domestic investment to help Softbank, Softbank would have gone bankrupt.
Wang Heng read a piece of news that in 2020, Softbank’s debts will reach trillions, and the daily interest repayment will cost 3 million yuan.
Now, Wang Heng will get involved in the companies that Softbank originally wanted to invest in, and the companies he has already invested in, Wang Heng and Ma Yun will dilute them little by little until they are driven out.
Wang Heng wants to eat the meat of the domestic Internet, Ma Yun also wants to eat it, and Bernie Ma wants to eat it too, so there is no room for more people.

Seeing that Wang Heng was angry, Softbank had no choice but to sit down and dare not make any further noises, otherwise, after Wang Hengzhen kicked him out of the venue, he would have no way to deal with business when he returned.

The people in the Taishan Club wanted to stand up, but they were finally stopped by their boss,
Ma Yun and Wang Heng are both young people, and they will not sell the face of their older generation at all, so although the Taishan Club is very authoritative in the country,
But Wang Heng and Ma Yun don't like them, and they can't do anything about them, so they can only swallow their anger, and when they have the opportunity to transfer their equity, they will never enter this industry again.

"Pinxixi Mall will hand over the share increase agreement to Manager Sun."

Sun Yutong looked at the document and said,

"The total shares of Pinxixi Mall are 230 billion shares. The number of shares expanded this time is 46 billion shares, the total number of shares is 276 billion shares, the valuation is 1000 billion yuan, and the average price per share is 3.62 yuan. All major shareholders are requested to sign for confirmation. "

Pinxixi Mall originally had 230 billion shares, valued at 920 billion, and an average stock price of 4 yuan. This share expansion is equivalent to a drop in the value of shares held by old shareholders.
But no one cares, because after the share exchange with Yanxuan Group, this part of the equity is equivalent to that shared by all shareholders. Didn't say go directly to sign the agreement.

After Wang Heng signed the agreement, he made a small calculation below. He originally owned 59 billion shares of Pinxixi Mall, but sold nearly half of them, 22 billion shares, so now he only has 37 billion shares.

At present, Pinxixi Mall, which has a total of 276 billion shares, accounts for 13.5% of the shares, and the shareholding ratio has almost dropped to the warning line, so he can no longer sell the 37 billion class B shares.
But it doesn't matter, Ma Yun will hand over the newly expanded 46 billion shares to him soon. This equity worth 166 billion can be pledged with 7% of the equity if it is not a problem, that is, a loan of 116 billion yuan.

Ordinary pledges are 2-3%, which is about 30-50 billion yuan. After all, the valuation is not the stock price of a listed company. The valuation is relatively frothy.
Strictly speaking, banks do not even accept equity pledges of unlisted companies, so even if the equity valuation is high, there are still many of them pledged at 1% for funds.

Not to mention unlisted companies, some listed companies have a market value of [-] billion, but they can't provide a billion in liquidity. They go to the bank to pledge the company's equity, and the bank doesn't even borrow money.

Therefore, it is reasonable for Ma Yun to pledge 166 billion shares of Pinxixi Mall worth 46 billion RMB to Wang Heng’s Hengda Group to borrow 30 billion funds.

After Pinxixi Mall’s stock expansion is completed, Yanxuan Group will expand its shares next. Yanxuan Group’s valuation is 530 billion yuan, and the original total shares are 100 billion yuan, which means the stock price is 5.3 yuan.
This time Yanxuan Group expanded its shares by 45 billion, with a total of 145 billion shares. The total valuation is still 530 billion, and the stock price has dropped to about 3.7 yuan.
Then there is the exchange of 46 billion shares of Pinxixi Mall and 45 billion shares of Yanxuan Group,

拼夕夕商城的46亿股占拼夕夕商城的16.7%，严选集团的45亿股占严选集团31.1%，比例已经非常接近1:2了，
After the share swap, Pinxixi Mall became the largest shareholder of Yanxuan Group with 31.1% (45 billion shares) of ordinary shares,

The second shareholder Ma Yun is 24.3%, (35 billion shares) class B equity,
The third shareholder, Wang Heng, holds 14.5%, (21 billion shares) of Class B shares, and the voting rights are given to Ma Yun after the share swap.

A group of Li Jiacheng who acquired the equity of Wang Heng Yanxuan Group accounted for 10.4% of the shares, (15 billion) common equity,
The original Ari Mayun team is 6.2%, (9 million) ordinary shares,

Yahoo + Softbank + Taishan Club is 13.5% (19.7 billion) ordinary shares,

Six months ago, Yahoo and Softbank took 69% of the shares in Ahri, while Ma Yun’s entire team only had 31%.

After two operations, the combined percentage of the three companies was only 13.5%, with an average of less than 5% for each company, and they were not even eligible for shareholder representative seats.
On the stage, Ma Yun and Sun Yutong exchanged equity agreements, and the Softbank representative finally couldn't bear it anymore, stood up and left the stage early,
Then the people in the Taishan Club couldn't bear it anymore. The Taishan Club spent 20 billion real money in order to help Ma Yun buy 48% of Wang Heng's shares in Pinxixi Mall.

As a result, within half a year, they were messed up by Ma Yun. The 5.7 million Yanxuan Group shares in their hands are now worth only 21.09 billion. In less than half a year, they lost more than half of their losses.
That’s not to mention, it cost 48 billion at the beginning, and now there is no shareholder representative seat, and everyone on the scene is making money, except for them and Softbank, who can bear it,

Immediately, the people in the Taishan Club stood up and said, "I want to withdraw my shares!"

Ma Yun smiled and said, "Okay, you can first ask the shareholders at the scene if they are willing to take over. If no one is willing, the company will finally take over, but they can't withdraw the shares at the current 3.7 yuan. The company is currently short of liquidity and can only sell It starts at 1 yuan per share, think about it!"

The former Yanxuan Mall of Yanxuan Group spent 20 billion to make Pinxixi Mall independent, and more than 11 billion in bonuses and donations were included in the 20 billion from Pinxixi Mall, so Ma Yun’s 30 billion is left 10,
During this period of time, Yanxuan Group was looking for another location, expanding its servers, merging the Ahri Group, operating company expenses, and the B2B listing process, all of which cost money. In addition, the Ahri Group did not have much liquidity.

Therefore, Yanxuan Group seems to be valued at 530 billion, and its liquidity is less than 20 billion. Compared with Pinxixi Mall's liquidity of tens of billions, it is really incomparable.

Therefore, it is possible to withdraw shares, but the original price is impossible.
Ma Yun's words annoyed the people in the Taishan Club,
"Ma Yun, are you so shameless? We spent 48 billion to help you get the controlling stake in Ari, and now you use 5.7 million to repay us?"

"I'm sorry, I haven't seen your 48 billion. Where did you spend the 48 billion at the beginning? Just ask whoever it is, and it has nothing to do with me."

Ma Yun shook the pot, and the popularity of the Taishan Club jumped. Wang Heng also joined in the fun and said,
"You can withdraw with me, but I sold 20% of the shares of Pinxixi Mall at the beginning, and now you give me 20% of the shares of Pinxixi Mall, and the 48 billion cash is guaranteed to be a lot."

20% of the shares in Pinxixi Mall are now worth 200 billion, and thanks to what Wang Heng said, this is not... the popularity of the Taishan Club is speechless,

"you……"

After all, the people in the Taishan clubhouse were a bit old, and they fainted out of anger after being sung by Ma Yun and Wang Heng.
Almost everyone present knew how Ma Yun used Yanxuan Mall to annex Ari Group step by step.

And Wang Heng is the one who hides behind his back to make a fortune secretly, seeing the two of them blatantly sing together and make the company's investors dizzy,

They couldn't help but worry about themselves, but when they thought that Pinxixi's valuation was as high as 1000 billion, with a liquidity of more than 100 billion, and Wang Heng only had a 13.5% stake.

Regardless of the dilution of investment, or what to do, it is impossible to shake a company as big as Pinxixi Mall, so although I am a little worried, no one is willing to quit,
Although the valuation of Pinxixi Mall is as high as 1000 billion, it is only 125 billion U.S. dollars when converted into U.S. dollars. Compared with the market value of Amazon, a similar company across the sea, which is 464 billion U.S. dollars, the difference is nearly 4 times.
Moreover, Pinxixi Mall is close to Amazon regardless of the number of users, monthly active users, or daily sales.
So everyone has reason to believe that if Pinxixi Mall goes public in two years, its market value will at least double by 5 times, so who wants to get off now.

Wang Heng is naturally aware of what these people are planning. In fact, he is also planning. Pretty Country has invested in Facebook, Apple,
Now it’s the same kind of Internet e-commerce Amazon, and he naturally paid attention to Amazon early. In his previous life, he knew that Amazon’s market value exceeded 1.7 trillion US dollars.
But now it is only 464 billion, which is equivalent to a 36-fold increase. He has more than 100 billion in cash and did not start it because he is waiting for the financial crisis.
During the financial crisis, Amazon will definitely fall by more than half, and then it will increase by 80 times. An investment of 10 billion is a harvest of 800 billion. He will definitely not let it go.

Of course, he won’t give up on Fighting Xixi and Yanxuan Mall. Again, there are only two Internet companies in the world, so as long as he bets on both sides, he won’t lose no matter which side wins.

Of course, the specific operation must be to sell Huana stock first, and then after the b2b listing reaches its peak, then backhand the b2b and the Hong Kong stock index.
Wang Heng also didn't want to earn more, with more than 170 billion funds, he would stop if he made twice as much.

At the time of the financial crisis, with 500 billion funds in hand...

Wang Heng thought of his joy, and couldn't help showing a happy smile on his face...

PS: Today is the last day of June, Wang Heng said: Please, readers, dad, vote,

The author now relies on this lottery money to buy cigarettes every month, so I ask all the bosses to support me!

(End of this chapter)