my return to life

"..."

Fang Nian thought for a while, and said, "The specific details can be discussed again, mainly because everyone has no opinions on the time point."

"That's fine."

"..."

Finally, let's talk about financing.

It is 103.76 times of 9 billion, and the pre-investment valuation is 933.84 billion. Everyone has little opinion on this point. In short, after investing 92 billion, the valuation is 1024 billion yuan.

The shares were complicatedly diluted, and no new shareholders were introduced, so the frontier angels had no chance to follow the investment.

A stock split was also carried out, from the original 10 billion shares to 50 billion shares.

最终股份比例是：方年：32.5%、关秋荷：29.5%、晨兴9.5%、红杉8%、前沿天使6%、鹅厂6%、启明3.5%，员工股权池5%。

The substantially reduced shares of Morningside were privately bought by Sequoia, and there is no need to disclose how the deal was done.

So, even if you have an idea, you can talk about it in private.

Anyway... Goose Factory, who is most opposed to it, is eager to buy it this time, and its shareholding ratio has increased by a full 3.5%.

It is well known that the 1% of the shares diluted by frontier angels are converted into cash after complex calculations, which is about 5.6 million.

Although the valuation is as high as 1024 billion, the real shares held by Fang Nian and Guan Qiuhe are still as high as 73%.

This series of complex operations allowed Dangkang Games to have enough capital to carry out any operations. Ren Yuxin, who knew well, was conceiving one plan after another in his mind to ensure the leading position of Goose Factory Games. As for whether it will be successful, I don't know.

In addition, these operations once again quietly solved the shortage of frontier funds.

Including Guan Qiuhe's supplementary 6000 million yuan, Frontier will accumulatively earn 9.28 million yuan, which is also Fang Nian's "trick".

Frontier angels invested in Dangkang game at the beginning, but only spent 2800 million.

The coquettish operation that Fang Nian played at the beginning, had a huge harvest in the blink of an eye.

As for other...

After this dividend feast, Fang Nian and Guan Qiuhe each held nearly 10 billion RMB in cash.

Especially in Fang Nian, 4100 million from the frontier, plus 4900 million from the husband and wife mutual fund, just over 11 billion.

What a fat year.

-

======

〇: Dangkang’s profit margin is still reasonable. According to the 2010 financial report, the profit margin of Goose Factory’s game business has finally reached about 50%. 70%, so...

Playing games is really making money, no wonder Ding Sanshi is so happy raising pigs during the day and playing discs at night!

PS: The addition of the alliance leader has been completed again~ Hey, are there any big bosses who give rewards, the last 3, as long as 3 can be happy to mention 9+19 chapters plus updates~

PS1: Recommend a book by a big guy: Mid-Autumn Moonlight "I Just Want to Be Self-Reliant"

Chapter 623 The youngest richest woman! (1st update)

Broken Bowl asks for a monthly subscription.

………………

"Bang~"

The champagne cork was ejected into the air, and the bottle made a crisp sound.

Wine foam sprayed into the sky.

The unique color of champagne glows luxuriously in the clouds.

"Congratulations to Mr. Guan in advance, all the headlines tomorrow will be your name." Neil Shen smiled easily while holding a champagne glass.

Guan Qiuhe took a sip of his wine: "Thank you."

Spokespersons of several investment institutions sent congratulations: "Congratulations to Mr. Guan."

"..."

Everyone had genuine joy and smiles on their faces.

This luxurious private banquet hall, which is not simple, has witnessed a feast of capital.

It can be said……

All winners.

In just one year, Dangkang's valuation went from negligible to 1024 billion yuan, and everyone present made a lot of money.

Guan Qiuhe, who held Fangnian shares on behalf of him and was the founder, lost a total of 33% of his shares.

The profits will be shared by five investment institutions.

Through the power of money, capital that does not matter for production has acquired equity and has a certain right to speak.

All are happy.

After a brief celebration, Neil Shen waved his hand: "Please welcome everyone to meet up tonight."

"..."

Of course everyone will not refuse.

Later, Fang Nian and Guan Qiuhe moved to Dangkang Game Headquarters on the 39th floor, and entered Dangkang again.

Fang Nian looked left and right, and after walking into Guan Qiuhe's chairman's office together, Fang Nian said casually, "It doesn't seem like much has changed."

"What can change? Mr. Fang has only been here for a year." Guan Qiuhe said in a sincere tone.

Fang Nian didn't worry too much, it was the truth after all.

"..."

Without much chatting, Fang Nian quickly got down to business: "I don't mean to fool Shen Neil and the others by going public in Hong Kong, let's get ready."

"Currently, our two shares plus one have just touched 67% of the warning line. This is still counting the 5% of the employee equity pool. Fortunately...it has been prepared for a long time."

Guan Qiuhe smiled: "To tell you the truth, I really think that you have taken a long-term view and prepared a lot. No wonder your attitude was so clear yesterday. You must have thought about it a long time ago."

Fang Nian smiled wryly and shook his head: "That's really not counting. If Miao Wei didn't bring up such a sharp topic, I must be an honest and good student. The higher-ups can do whatever they want Nuwa Lab to do."

In the end, he said helplessly: "I can't help it, that's how dog licking is."

Guan Qiuhe sighed softly and didn't say any more about it.

"..."

Long before frontier angels invested in Dangkang, Fang Nian asked Guan Qiuhe to register Dangkang Group in Cayman, adopting the VIE (Variable Interest Entity) structure commonly used in the world, that is, the agreement control structure.

Then, according to the usual practice, two classes of ordinary shares, A and B, were issued, with different voting rights attached to the company;

Enabling holders of Class A shares to be entitled to ten votes per share on any resolution proposed by the company’s general meeting of shareholders;

Enabling holders of class B shares to have one vote on any resolution proposed by the company's general meeting of shareholders;

Resolutions on reserved matters are entitled to only one vote per share.

At the same time, during the financing process, different rounds of preferred shares are issued according to the rounds.

For example, A-round preferred stock, B-round preferred stock, and C-round preferred stock.

What was just completed today is the C round of financing, the issuance of the C round of preferred shares, and according to the agreement, the delivery will be completed before April 4.

but……

These investment institutions are all prepared, and they can basically complete the delivery within the next week.

There is no need to issue a C-2 round of preferred stock.

According to the relevant situation, Fang Nian and Guan Qiuhe both hold Class A ordinary shares.

The situation of Class B ordinary shares is a little more complicated. After the C round of financing is completed, that is, after April 2011, 4, all holders of preferred shares have the right to convert preferred shares into Class B ordinary shares;

Or, after listing, the preferred stock automatically converts into Class B common stock.

all in all……

Under the internationally accepted complex capital equity operation method, with Dangkang's structure, Fang Nian and Guan Qiuhe's shareholding ratio will only be completely lower than 6.7% before they lose their absolute right to speak...

Guan Qiuhe changed his sitting position and looked at Fang Nian who was looking out the window: "After the stock split, how will the employee equity pool be calculated?"

Fang Nian replied casually: "The number of shares held remains the same. Now the value of each share is more than twice that of before. If there is any opinion, it means that hard work is not enough! Otherwise, you should know that you can get more shares."

"Okay." Guan Qiuhe nodded happily, "There will be a performance encouragement for senior management and senior talents in the next year."

"..."

Originally, the total share capital of Dangkang was 10 billion shares, and the employee equity pool had a total of 5000 million shares, each worth RMB 10, accounting for 5% of the shares.

In addition to the 2300 million shares shared with some employees, there are 2700 million shares left.

In the C round of financing, the total share capital was split from 10 billion shares to 50 billion shares. After financing, each share is worth RMB 20.48.

The shares in the employee equity pool become 25000 million shares.

According to Fang Nian's discussion with Guan Qiuhe, the number of shares held by all employees before remains unchanged, that is to say, it is still 2300 million shares, and the remaining shareable shares in the employee equity pool become 22700 million shares.

To be more specific, Bingwa and Wu Hong, the two employees with the largest shareholding ratio, originally held 500 million shares respectively, and now they still hold 500 million shares.

However, the shareholding ratio was directly reduced from the original 0.5% to 0.1%.

This is a change from previous financing.

Of course, because what they actually hold is equity dividends, which are automatically redeemed by the company after resignation, and they do not have the right to trade externally, so they still earn after calculation.

For example, according to the general rules, if Wu Hong wants to withdraw from Dangkang, the company will redeem the 500 million shares in his hands according to the agreement, and the standard method will cost 10240 million yuan.

Of course, there are actually other agreements that are not so standard. If they withdraw within a certain period, they will definitely not get so much money.

But unless people are stupid, they generally won't quit at this point in time.

After all, the year-end dividend in 2010 was RMB 3.828 per share.

For dividends alone, Bingwa and Wu Hong received 1914 million yuan before tax.

Ice Frog is still worth the price. The first classic closed beta of Dota Rebirth has brought considerable revenue. It is worthy of being the chief developer of the original Dota.

Wu Hong is also not bad, he is the best CEO since he was greedy for fun and became Kangkang.

Guan Qiuhe was able to spend most of his time on frontier part-time jobs, thanks to Wu Hong being able to take charge of the overall situation.

The advantage of the stock split is that the employee equity pool has more shares available for sharing, which can attract high-end talents more favorably.

The downside is that the original shareholding employees did not get a proportionately increased share of shares.

If Dangkang's net profit in 2011 does not reach 191.4 billion yuan, the dividends of the shares they hold will be lower than the dividends in 2010.

According to Dangkang's net interest rate, the annual revenue in 2011 must be at least 500 billion yuan, and all net profits must be distributed as dividends.

Obviously, revenue and full dividends look unrealistic.

But it's also a New Year's resolution.

Of course, the dividends earned by employees from shareholding are completely additional income, and their salaries and benefits themselves are not low.

In addition, showing due value does not mean that new shares cannot be obtained.

Generally speaking, from the perspective of company managers, it is a very reasonable way to do so.

'Slap a sweet date' will never be outdated...

…………

…………

Soon after dinner, Fang Nian and Guan Qiuhe attended a small banquet organized by Shen Neil.

Although it is similar to a reception, it is not in a public place.

There is no such landmark in the Park Hyatt as the Frontier Angel Reception organized in the previous years.

An old bungalow in Huangpu.

The private clubhouse can be regarded as Shen Nier's property.