My Return to Life

"..."

"..."

Fang Nian glanced at the time before looking at the number on the screen.

In the end, I chose to connect and said with a smile, "Good evening, President Liu."

"Fang is good." Liu Qin said hello with a smile.

Then he went straight and said: "President Fang, how is Dangkang's development now? Is there any financial pressure?"

Fang Nian smiled: "How can there be no pressure. Although TGP is only a small part of the goose factory, it is still a giant that is difficult to contend with for Dangkang."

"Haha." Liu Qin laughed, "Fang is always really humble."

"From the general understanding of my counterpart, you should have thought that the goose factory would launch similar products."

After a short pause, Liu Qin said: "The facts also show this. Dangkang's response efficiency is shocking. We are still discussing in the afternoon that Dangkang, who has a general manager, will become a great company without any obstacles."

"Mr. Liu, my tail is really going to grow out!" Fang Nian said with a funny face, happily.

"..."

Talking with Liu Qin, Fang Nian was also emotional.

Liu Qin's sense of smell is far more sensitive than imagined.

The discussion between Guan Qiuhe and Fang Nian in the teahouse was limited to the two, and the outside world had no way of knowing it.

Liu Qin called so quickly, obviously he also judged that in the current situation, the best way for Dangkang is to embrace capital more openly.

The confidence that the capital market can give is really not that anyone can ignore.

Even if the goose factory is so huge, it still needs capital to help it.

It is hard to say that there is no capital assistance behind any large company that has grown up.

The touts have been talking for a long time, and both sides are in a good mood. Liu Qin officially cut to the topic: "President Fang, I will just say that Dangkang will launch a Series B financing in the near future."

Fang Nian pretended to be indulging, and it took a moment to answer: "Yes."

“Although Dangkang’s revenue last month was very impressive, this month has only become normal. The emergence of TGP would have affected Dangkang, and they also focused on free. Dangkang needs more and more abundant funds. Respond to competition."

Hearing this, Liu Qin thought about it a little bit: "I wonder if Fang Zong thinks Dangkang is valued?"

"It's better to talk about Mr. Liu, what is Morningside Capital's latest assessment of Dangkang?" Fang Nian asked with a smile.

Liu Qin did not mean to conceal, and directly said: "We know Dangkang better. After internal analysis, we adjusted our latest internal valuation of Dangkang..."

After a short pause, Liu Qin said calmly: "It's 8.5 billion yuan."

Then he said: "But I expect this valuation should not be within Fang's expectations. If financing is based on Internet companies, Dangkang's valuation should be tens of billions of yuan or more."

Fang Nian groaned and said, “Don’t hide Mr. Liu, the 8.5 billion valuation is indeed not as expected. Although last month’s revenue was brought by'Minecraft’, and this month’s revenue has dropped significantly, whether it’s platform payments The rate and the scale of payment are very high.

Financing is not based on Internet enterprise standards, but ordinary technology companies are used to raise funds, in accordance with the internationally commonly used market-to-sales ratio (P/S) valuation method;

In fiscal year 2010, Dangkang’s revenue should probably be the same as that of Goose Factory Games last year, a little lower, at RMB 4 billion. Dangkang’s current valuation should also be above 40 billion. "

Liu Qin smiled and said: "Calculating the valuation based on the market-sales ratio and a multiple of 10 is a bit bullying for investment institutions;

And at present, only high value-added technology companies in the world can have 10 times the scale, and it is difficult for ordinary technology companies to exceed 5 times..."

After a brief pause, Liu Qin's conversation turned: "I know that Mr. Fang's valuation should not be so high in his heart, so please let Mr. Fang speak frankly."

"Haha~" Fang Nian laughed twice and took the initiative to put it bluntly, "I still can't hide Mr. Liu, the current R&D investment in Dangkang is indeed not high, and the output is very low..."

"In addition to the fact that the market has strong competitors, I think twice and finally lower the valuation as much as possible, rounding up to 10 billion."

Liu Qin pondered for a moment, and finally expressed his basic agreement: "Fang always makes sense and basically agrees."

Then the conversation changed: "I want to go to Shencheng for a cup of tea in the near future. I wonder if Fang always can receive one or two."

"Definitely." Fang Nian smiled.

"..."

Although Liu Qin's Morningside Capital is Dangkang's third-largest shareholder, its shareholding ratio is not high, and Fang Nian and Guan Qiuhe have the dominant power.

On the other hand, capital is only responsible for investment and rarely gets involved in company management.

Morningside Capital is no exception.

And Liu Qin deeply believes that with Fang Nian, if Morningside Capital intervenes in the management of the company, it will only be beaten.

It's fine to send people occasionally to participate in high-level meetings when you have time to see the financial report.

Liu Qin had no way of knowing what Fang Nian was discussing with Guan Qiuhe.

A valuation of 10 billion is not a fixed number.

Liu Qin also knew that such a large financing would not be the only participation of Morningside Capital.

He is very clear that this does not meet Fang Nian's strategic needs.

But Liu Qin was also willing to lift the sedan chair for Fang Nian.

To be honest, Fang Nian never thought of using the market-to-sales ratio to raise funds. This is indeed bullying.

But you have to start from scratch to start the price.

Liu Qin's meaning is obvious. As a game company, Dangkang has no major game R&D output except for the game platform product. How can it be possible to raise funds at a high ratio of market to sales.

It is possible to use the price-to-earnings ratio (P/E) to calculate the valuation.

Although the valuation ratio of the P/E ratio is higher, it is generally 15 to 30 times.

But the profit is not high. Calculated on the basis of Dangkang's current month's net interest rate, even if it is 30 times, it is sad to exceed 10 billion.

Fang Nian would certainly not agree with such a valuation model.

In fact, the biggest contradiction here is not the appearance of financing valuation methods, but TGP.

Because investment belongs to the future form, and investment is future income.

After the birth of TGP, how can Dangkang ensure that his income does not decline and can continue to bring investors tens of times of returns, this is the most true.

…………

After finishing the call with Liu Qin, it was past seven o'clock in the evening.

After the usual dinner with Ms. Lu Weiyu who is far away in Chang'an.

For the other side, it was quite regrettable.

He didn't even cook and finish the meal, but went downstairs and took a bite near the community.

Haven't held back talking to Lu Wei to force Lailai.

Fang Nian looked angrily and beeped to Lu Wei: "In the afternoon, I still feel that'my family has a young girl's growth.' In the evening, I'm looking for a lot of things. Why not look for Guan Qiuhe! She is the major shareholder!"

Upon hearing this, Lu Wei said in a low voice, "It looks like the majority shareholder is Mr. Fang..."

"What's the matter with the major shareholders, they deserve nothing but to deal with investors." Fang Nian grunted and said proudly.

Lu Wei said softly: "But Mr. Fang is obviously better at this aspect."

Hearing this, Fang Nian was suddenly satisfied: "That's right, after all, I'm so good."

"..."

More than a thousand kilometers away, while still comforting Fang Nian, who was suddenly "childish," on the phone, Lu Weiyu was so beautiful in her heart.

Who doesn't want to have someone to stick to.

"..."

After chatting for a few words, Fang Nian turned around and said, "I booked you a ticket to Shanghai on the morning of June 1st. How about it? Are you ready?"

"Yeah." Lu Weiyu said with a smile, "I can go to the airport by car in the morning."

Fang Nian didn't struggle too much: "That's OK."

He knew that Lu Weiyu would know that he would arrange it.

"Mr. Fang, can you breathe a little bit of wind, is there any conspiracy?" Lu Weiyu suddenly laughed.

Fang Nian said solemnly: "There is no conspiracy, at best, it's nothing more than straightforwardness."

"Huh~~~ in broad daylight~"

"It's day... to dream."

…………

…………

No words for a night.

On Monday the next day, Fang Nian rushed to Fudan for class early in the morning.

This and that are not as important as learning.

Because of the knowledge learned, others can't take it away.

Sooner or later, you will encounter many unexpected situations that you have never experienced before. Needless to say, you can only rely on your own knowledge system to solve problems.

Although there were few classes in the morning, Fang Nian did not leave the school, but strolled to the liberal arts library.

No matter how many books there are in the bookcase at home, it is not as rich and diverse as the collection of a comprehensive university library with the highest ranking in China.

Although Fang Nian's high school was majoring in science, his first academic year was almost over, and Fang Nian had never been to the science library.

"..."

I don’t know the time to study, and I quickly finished the last lesson of today.

Fang Nian left Fudan with Bao and went to the leading company.

There are still only Wen Ye and Gu Yu in the office.

With sharp eyes, Wen Ye first saw Fang Nian, and immediately said hello: "Fang is good."

Then he said: "Is it convenient for you now? There is a small matter that I need to report to you in private."

Fang Nian raised his brows, so he looked at Wen Ye in his spare time: "You said."

"Xiaogu, go out for a while." So Wen Ye looked at Gu Yu and said.

Although Gu Yu didn't know why, he still left the office soon.

Soon, Wen Ye lowered his voice and reported: "President Fang, the Huatai you bought me was finally completed in the morning. This is the corresponding contract document."

With that, Wen Ye handed out a briefcase.

The number of documents is still quite large.

After going around many times, the process is as long and complicated as ordinary people changing their names.

Fang Nian flipped through the documents, and couldn't help muttering, "You make me feel like you are going to do nothing. You startled me."

"Ah..." Wen Ye hurriedly said, "No no."

"Even if there is, it shouldn't be here... right."

Fang Nianni glanced at Wen Ye: "You tilt your head."

"Huh?" Wen Ye did.

"Have you heard the sound of water?"

"..."

Fang Nian didn't have a good air: "You don't grow tall, you don't grow tall, and you don't have nutrition for your brain?"

"Go and call Kotani, don't be so sneaky next time."

Wen Ye responded and ran out quickly.

After Wen Ye and Gu Yu came back, Fang Nian had already started playing the "Dinosaur Chong Chong" on the Dangkang game platform.

"President Fang, there are actually some news to report, including news from the company's regular meeting today, as well as news from the Internet." Wen Ye's tone was a bit difficult.

Fang Nian said casually: "You talk about the news on the Internet."

Because of itchy hands, Fang Nian simply stopped reading news on the Internet.

Otherwise, I can't help but go up and beep a few words.

Fang Nian was not very interested in the news of the company's regular meeting. He only met Guan Qiuhe yesterday.

Wen Ye said, the 1510 report: "This afternoon, Goldman Sachs Capital, Sequoia Capital, Morgan Stanley, JP Morgan and other international investment banks have successively updated their latest assessments of Dangkang.

Among them, the latest valuation given by Sequoia Capital China is the highest, at RMB 9.5 billion;

Most other investment banks adjusted their valuations between RMB 8.5 and RMB 9 billion. "

"There are rumors that Dangkang has successively launched small game packs, assistants, and Children's Day discounts yesterday to respond to the strong rise of TGP, which has received enough attention."

"Some financial industry analysts say that the current valuation of Dangkang may be seriously underestimated. If Dangkang starts the financing process, there may be unexpected gains."

"There is also a good thing. Netizens posted news on major platforms ~www.ltnovel.com~ in the first round of each other's moves, and Kang Xiaosheng will win."

"..."

In the end, Wen Ye concluded: "This is probably the important information on the Internet. As of now, TGP has no new developments."

After hearing what Wen Ye said, Fang Nian said casually: "It's normal, after all, TGP has directly taken the position of the leader;

However, the investment bank is really snobbish and raised the valuation of four or five billion in the blink of an eye.

This round looks like a small win, but it doesn't really matter. "

Then I changed the subject and asked: "Can you fix the office areas of the two companies Frontier Project and Frontier Entrepreneur this week?"

"It should be no problem." Wen Ye answered cautiously.

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I want to subscribe to the monthly pass, it will be the end of the month, clearing the ticket~

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