Reborn Entrepreneurial Giant.

Chapter 558 Stage Asset Inventory

"Glory is an innovative company, but innovation is a high-risk activity. How do we quickly correct when we make mistakes, how do we maintain internal vitality, and how do we treat losers in innovation..."

“It is necessary to distinguish errors and mistakes in exploratory experiments from unintentional mistakes made to advance work and violations for personal gain...”

Qu Li is improving the management system at Honor and wants to establish a complete fault-tolerant feedback and correction mechanism internally. Dealing with the risks brought by innovation is only one of them. The more important thing is to avoid the risks caused by management mistakes in decision-making.

This issue is relatively high-end. It is still under discussion and no specific plan has been formed yet.

Without waiting for the release of Honor 5, Fanxing Fund, Xiangjiang Fortune, and the Yellow River Upstream and Downstream Company formally signed an agreement to jointly develop the Talatan Water, Lighting and Animal Husbandry Integrated Project, of which the Yellow River Company is the main operator.The conclusion of this agreement means that Fanxing Fund has officially launched its own public welfare undertakings.

Not many people in China paid attention to this news, but more people discussed Zhang Yiwen because Xiangjiang Fortune recently officially announced that it has taken control of China United Insurance, an insurance company that is suffering from losses and heavy debts.

The specific acquisition plan is very complicated. As a state-owned and private local state-owned enterprise, the acquisition price paid by Xiangcai is much higher than that of Oriental Asset, investing about 85 billion to hold 51% of it.

China United Insurance is quite special. It owns both property and life insurance. Although it was profitable last year, its debt ratio was very high and its solvency adequacy ratio was lower than the standards of relevant departments, let alone an insurance company that grew up from a border area. , internal governance capabilities are questionable.Those who want to buy are not qualified, and those who are qualified don't want to buy because they find it troublesome. State-owned and private financial holding companies are barely qualified.

In this way, Xiangjiang Fortune has gathered financial licenses such as insurance, banking, securities, funds, trusts, small loans, etc. It should be regarded as a financial holding company with full financial licenses.

This is not new, many state-owned capitals have done it.However, Zhang Yiwen, a beautiful woman, frequently appears in public places instead of Xiangjiang Wealth. Not only does she show her excellent work ability, but she is also a great beauty. This creates a chemical reaction of "breaking the circle".

Zhang Yiwen went from securities private equity, setting up her own business to being acquired by Xiangjiang Investment, and then returned to public equity, leading the wealth fund to become the top 10 public funds in the country, making Xiangjiang Investment the top private equity fund in the country, and naturally became the spokesperson of Xiangjiang Wealth. Her whole life is full of legendary.

Some people call Zhang Yiwen the "financial goddess" in China. She has established an encyclopedia forum and seems to have a fan support club. She has everything Chen Danlin has.

"Why did Xiangjiang Fortune acquire China United Insurance?" a reporter asked Zhang Yiwen

"Because we want to collect all financial licenses." Zhang Yiwen said with a smile: "Just kidding, we think the price is acceptable. There is still a lot of room for growth in the domestic insurance market, but the channels will undergo huge changes. Banks The proportion of it..."

Zhang Yiwen gave a detailed explanation of the acquisition in an interview with the media. He was optimistic about the development of the insurance industry and was confident of doing a good job in the insurance business.

She is confident in saying these words. With Qu Li's relationship, she can enter the channels of BYD and How to Get Ahead; later, she can also cooperate with Jumei Financial to develop various life insurance businesses, such as investment-linked insurance, life insurance, and millions of medical services. Insurance etc.In other words, regardless of whether the previous team of China United was acting evil or not, Zhang Yiwen can promote the growth of the company's performance, and then rely on "performance" to gain actual control of the company.

Xiangjiang Fortune has many cooperations with Jumei and Glory. Interested people have already doubted the relationship between Zhang Yiwen and Qu Li. There are many "rumors" about the two on the Internet, but fortunately not many people believe them.

It’s a pity that cooperation will continue and scandal rumors will continue. Jumei’s version of Yu’e Bao has been put into small-scale internal testing and will be officially launched after the two sessions next year. Why did you choose this time? There are so many whys and no reasons!

Jumei intends to sell insurance and wealth management products. According to Ant, in ten years the money they earn from selling insurance will account for 8% of Ant’s total revenue, and the money they will earn from sales of wealth management and funds such as Yu’ebao will account for about 15%. Beijiebei accounted for 35%, and payment of transaction commissions accounted for 42%.Considering that Ant's overall revenue exceeds RMB 4 billion, it seems not small, and the domestic insurance scale has reached RMB [-] trillion, which is a very large market.

With the completion of this acquisition, Xiangjiang Fortune's layout in the financial sector has been basically perfected. From now on, it will be managed with heart: "Don't be a showman. Jumei Glory's traffic support is very important, but the company's own professional capabilities are the foundation..."

"Don't worry, although I'm not as good as you, I'm not a freeloader." Zhang Yiwen said confidently

Qu Li doesn't have much interest in Xiangjiang Fortune. Although he is the single largest shareholder of this company, this asset will eventually be left to his and Zhang Yiwen's children, with control in Zhang Yiwen's hands.Qu Li can only indirectly affect the company's operations.

Another similar one is Vision Investment. Qu Li was originally the majority shareholder, but later broke away from the relationship in order to go public with Jumei and Honor. However, many assets are still managed by them through the "Tianming Fund".

Tianming Fund's main industries are equity investments and stock assets. For example, it is still the major shareholder of Twitter, holds shares in Japan's Itochu and Sony, and domestic photovoltaic lithium battery companies. These are all handed over to Chen Danlin. The assets she controls also include Fenghua China (Danlin Women's Clothing and Shein), Yinghe Telecom, Yinghe Real Estate.

As for Qu Li, his shareholding ratio in Honor and Jumei is around 30%, and his voting rights exceed 70%, but he has promised to donate all of it to Fanxing Fund.In the future, Qu Li will give up his super voting rights, allowing Fanxing Fund to have veto power over Jumei and Honor.

In addition, Fanxing Fund established Galaxy Power and invested in seawater rice, quantum communications, photovoltaic ranches, and ant forests. Based on these foundations, many vest companies may be established.

Fanxing Fund also controls CMEC. Through this IPO in Xiangjiang, Qu Li has become the largest individual shareholder of CMEC, holding about 7% of the shares; Jumei controls Xiangyun, which has been listed on the A-share market. Qu Li has no shares. At the same time, Jumei is also the controlling shareholder of Time, and Qu Li personally holds a small amount of shares in Time (WeChat), which seems to be about 7%.

That should be pretty clear, right?It may seem like a complex system, but in fact, only Jumei, Honor and Qiancheng Geometry need to invest a lot of energy, followed by Galaxy Power. As the two companies mature, Qu Li may only be directly responsible for Qiancheng Geometry and Galaxy Power in the future. .Other businesses such as Xiangjiang Fortune, Yinghe Real Estate and Jumei Glory are more or less related, but his woman is in charge.