Sprinkle coins every day

It's exciting to think about.

"If you want to search, do you need to form a new company or department?" Jiang Yue said.

It is equivalent to a tactful expression of disapproval.

"That is for sure."

Lu Qi nodded, "The group's current search technology is mainly used for the built-in search of its own app, and there are not many commercial demands. If you want to go commercial, you will almost have to copy Qiandu again, and you need to form a huge marketing, promotion and advertising teams."

"Then choose to cooperate with Qiandu."

Zhang Shuo finally made a decision, because the Germination Group's attitude towards the Internet business is shrinking, and in addition to incubating the short video business, it cannot expand blindly.

Within ten years, the entire Internet industry will usher in a round of shrinkage.

Zhang Shuo doesn't want to say that the Germination Group is aggressively expanding in the Internet field, recruiting people aggressively, and forcing employees of the Internet business line to "graduate" after the Internet winter comes.

That would be too ugly to eat.

Instead of expanding new businesses without a limit, it is better to collect rent from Qiandu with peace of mind.

Isn't it good for billions of dollars a year?

There is no need to say that, for the sake of some extra profits, go to recruit people with great fanfare.

"understand!"

The big boss made a decision, and Lu Qi naturally followed it.

By discussing whether to do search, Zhang Shuo took advantage of the opportunity to talk about his thoughts on the new business strategy of the Germination Group, "In the next five to ten years, the business strategy of the Germination Group should be driven by investment + industry."

The so-called industry, of course, is not limited to physical manufacturing.

It means that, in addition to the Internet, consumer electronics, semiconductors, new energy vehicles, commercial aerospace and other fields that have already been involved, for fields such as modern agriculture and biopharmaceuticals, investment will be the main investment.

This is the operating margin set by Zhang Shuo for the Germination Group.

For unfamiliar fields, Germination Group will try to play the role of a "financial investor" in the future, and will not end in person if it can't end in person.

As for the upper limit of the Sprout Group, it will be driven by the new engine of investment. Through investment, it will indirectly participate in various fields such as modern agriculture and biopharmaceuticals.

Instead of going off in person.

In this way, the Germinal Group's funds can go where they want to go, and it will not be said that the entire group will be dragged into the quagmire by rashly entering an unfamiliar field.

Even if the investment fails, at most it will lose a little capital.

It will not seriously hurt the vitality of the Germinal Group.

In the end, Zhang Shuo chose to recognize himself, and he was not arrogant enough to think that he could lead a group with no business boundaries or even unlimited expansion.

This is unrealistic.

Even for chaebols like Samsung and Mitsui, their business scope actually has boundaries.

Samsung's main business is consumer electronics.

"It means that the headquarters of the group will play the role of an asset manager in the future?" Lu Kai made no secret of his excitement and enthusiasm.

The person in charge of the group's investment business yesterday, the new strategy is undoubtedly very beneficial to him.

It is equivalent to holding half of the group.

"That wouldn't be the case."

Zhang Shuo shook his head, "The group headquarters still has to undertake the responsibilities that the headquarters should have, such as the incubation of new businesses, and the research and development of future technologies, etc."

A pure asset manager can't manage such a huge system as the Germination Group.

"But the proportion of investment will indeed increase."

"The board of directors will give the investment, financing and financial services department greater authority, but at the same time, it will also put forward higher standards for the performance appraisal of investment, financing and financial services."

Zhang Shuo does not want to say that the investment and financing department has become a prodigal sub-department.

That would run counter to the original intention.

"If you want to realize the dual-engine drive of investment + industry, the landmark event is that the group's profit return in the investment field must catch up with the profit in the industry."

This is no small challenge.

First of all, in the existing cases of Germinal Investment, it is either industrial investment, such as investment in semiconductors, mobile phone industry chains, and software industries.

Tell the truth.

This type of investment is mainly for the business sector, the return on investment is low, and it is difficult to cash out.

Other investments in enterprises such as Wujiang Technology, Linde New Energy, Jingdong, etc. are taking the path of long-term investment, and they will not be able to cash out for a long time in the future.

And a set of cash is at least a return on investment in the scale of [-] billion.

Just like the original Space-Time Tengda’s investment in Jingdong, Meituan, etc., after distributing the Jingdong shares it holds to shareholders in the form of dividends, Tenda is planning to sell its holdings of Meituan shares.

Earn a lot of money.

In addition, in the industrial field, Germination Group has two major hematopoietic machines, Jade Bird Interactive Entertainment and Maili Group, plus Qinghe Technology, Germination Financial Holdings, etc., and its profitability is increasing day by day.

If the investment business wants to reach such a level, there is indeed a long way to go.

Lu Kai immediately felt a lot of pressure.

Fortunately, this new strategy is only a preliminary idea of ​​Zhang Shuo, and it needs to be refined and researched by the President's Office and other relevant departments if it is to be implemented.

Finally, it must be approved by the board of directors before it can finally take effect.

After all, the stakes are high.

Zhang Shuo is not sure that the strategy he proposed must be correct.

.........

After the meeting, Zhang Shuo's most important work of the day is considered to be completed, and the rest of the time is either spent processing work emails or signing approval documents, or simply fishing openly.

Who told him to be the big boss?

After getting off work, Zhang Shuo did not go home, but came to a restaurant.

Xu Jia and Miaomiao have been waiting for a long time.

"Brother, Ari Dianping and Nomi Dianping have already issued acquisition invitations to Miaomiao Bicycle. Is it a good time to make a move?" Cai Miaomiao asked concerned.

With the battle of burning money for shared bicycles, Miaomiao Bicycles has naturally become the target of the two giants.

In particular, Miaomiao bicycles still occupy the main market in Shanghai.

Judging from the reactions of Ari and Nomi, both companies want to acquire Miaomiao Bicycles, so as to surpass their main rivals and win the final victory in this money-burning battle.

The script is almost the same as what Zhang Shuo predicted half a year ago.

It's no wonder that at this critical moment, Xu Jia and Cai Miaomiao, the two decision makers of Miaomiao Bike, would eagerly invite Zhang Shuo to dinner again.

I am ready to humbly ask Zhang Shuo for advice.

"How long can the funds in Miaomiao's bicycle account last?" Zhang Shuo asked without answering.

"There are less than 500 million left. If we want to continue participating in the subsidy war, we can only start a new round of financing." Xu Jia explained.

Recently, many investment institutions have expressed their willingness to invest in Miaomiao Bike.

After all, the winner hasn't been decided yet, isn't it?

"That depends on how you choose."

Zhang Shuo did not make a direct choice for the two, but gave his analysis, "Selling now has the benefits of selling now, and financing also has risks of financing."

"Refinance and support for another three to five months. If it works well, of course you can sell it at a higher price. The premise is that you must be prepared to bear the risks."

"What's the risk?" Xu Jia asked.

"The biggest risk is, of course, the business risk. If they are rejected by Miaomiao Bike this time, Ari Dianping and Nomi Dianping will directly intervene in the Shanghai market and start a hand-to-hand fight with Miaomiao Bike."

"In the face of the impact of the two giants, can Miaomiao Bike maintain its market share in Shanghai? Or, can it maintain its current market share in China?"

"Still, you will be beaten and defeated..."

Although Xu Jia is capable, she doesn't understand the Internet; although Cai Miaomiao has started a business, she doesn't understand management either.

Such a pair.

It is really hard to convince Zhang Shuo that he will be a pair of chosen sons.

"Uh……"

Xu Jia misfired.

She is ambitious, yes, but also very self-aware.

"So, the safest choice is to take advantage of the fact that Miaomiao's bicycles are still worth a fortune, and decisively choose a giant to sell themselves?" Compared to Xu Jia, Cai Miaomiao is obviously more eager to cash out.

She herself is not a very ambitious person, she is just a little money fan.

"I said, it's up to you to choose."

Zhang Shuo glanced at Xu Jia, but still didn't directly mention them to make a decision.

"I also choose to sell now."

As soon as Xu Jia gritted her teeth, she finally restrained her inner greed.

"In fact, there are two ways to choose to be acquired by a giant. One is of course to get out of the market directly with money. With the valuation of Miaomiao Bike, it will definitely be no problem to help the two of you achieve financial freedom."

But in fact the biggest beneficiary is the prodigal son fund.

"If you are not willing to just take money to leave the market, you can also choose equity replacement. It is equivalent to replacing the equity of Miaomiao Bike you hold with the equity of Ahri Dianping or Nomi Dianping."

"Based on the development trend of these two companies, there should be room for appreciation of this part of the equity in the future."

"The specific choice is also up to you personally."

Zhang Shuo seemed to have seen through Xu Jia's thoughts, but he still insisted on playing the role of commentator.

It seems that nothing has been said, and it seems that everything has been said.

"Brother, according to what you say, isn't equity replacement a better solution? Shouldn't there be only benefits, right? Are there other risks as well?" Cai Miaomiao asked.

"clever!"

Zhang Shuo really gave Cai Miaomiao a high look, and explained with a smile: "A start-up company, the founder wants to cash out, the best time is when the company is acquired, and the second is after the company goes public."

This is why.

Not only investors, but also founders will take their companies public as the highlight of their careers.

Because many companies are likely to reach their peak when they go public!

"If you choose equity replacement, you have to bet that Ahli Dianping or Nomi Dianping will be successfully listed in the future, and their performance in the stock market will also meet expectations."

Otherwise, it may not be as good as cashing out now.

"Is it possible to cash out part of the equity and replace it with another part when it is acquired?" Xu Jia was keen to catch the loopholes in Zhang Shuo's words.

"Of course you can."

Zhang Shuo nodded with a smile, "However, based on the shares of Miaomiao Bicycle you hold, it seems meaningless."

"Uh……"

Xu Jia became depressed immediately, completely forgetting that she was actually just a minority shareholder of Miaomiao Bike.

Before accepting the angel round investment from Fenglei Fund, Miaomiao Bicycle’s shareholding structure was——

Prodigal Son Fund holds 45% of the shares, Jiawei Culture holds 25%, Cai Miaomiao personally holds 20%, and Xu Jia and Lin Weiwei each hold 5%.

After the angel round of financing, Fenglei Fund directly holds 20% of the shares.

After the relevant equity was diluted, the prodigal son fund held 36% of the shares and was still the largest shareholder; Jiawei Culture held 20% of the shares, and Cai Miaomiao personally held 16% of the shares.

Xu Jia and Lin Weiwei each hold 4% of the shares.

And based on the current valuation of Miaomiao Bike, if it is really necessary to exchange shares with Ahli Dianping or Nomi Dianping, the replacement ratio will be at least ten to one.

With Xu Jia's 4% equity, at most 0.4% of new equity can be exchanged.

It really doesn't make much sense.

On the contrary, Cai Miaomiao, who is the largest individual shareholder of Miaomiao Bike, can use the method of cash out + equity replacement to get a double insurance.

In such a comparison, Cai Miaomiao is the proper winner in life.