My 1999

Nodding in response to the greetings from all the employees, he came to the office on the second floor.

Just sat down not long ago.

After getting the news, Teng Huaming hurried over.

"Mr. Xu."

Looking at the figure in the early morning sun, he seemed to be taller and more upright than before.

The respect and admiration that surged deep in my heart was stronger than before.

When he first met Xu Liang four years ago, he concluded that this person would definitely be able to make his own way in the corporate world in the future, so he decisively agreed to Xu Liang's invitation.

But he never expected that in just four years, he would leap from education to the Internet, and then from the Internet to finance, beverages and real estate.

He has prospered in different industries and is now the third richest man in the world.

Who would not be impressed by this amazing accumulation of wealth!

"Old Teng, come and sit quickly."

Teng Huaming nodded, took a breath, and quickly walked to the sofa beside Xu Liang and sat down.

He picked up the teapot and poured him a cup.

"We haven't seen each other for almost a year, right?"

"Eight months to be exact."

Since Xu Liang went abroad last year, he has only been here once.

I didn’t even come here during the Chinese New Year.

"I've been gone for such a long time, but you can still manage the company to prosper. At the beginning, I really didn't misjudge the person."

"Thank you for the award. Without your support, New Dream would not have been able to develop so fast."

"We have known each other for so many years, so you don't need to put a high hat on me."

"Mr. Xu, you have wronged me. I am telling the truth."

After finishing speaking with a smile, Teng Huaming handed over the information he brought.

"Mr. Xu, this is the company's financial statement for the first quarter of 2004."

Xu Liang took it and looked at it carefully.

After more than four years of development, New Dream now has five business segments.

Namely: college entrance examination art training, early childhood art training, subject training, vocational training, and peripheral businesses.

College entrance examination art training is the foundation of the new dream, just like the new dream is to ‘English training’, it is the core of the core.

But now this core business has encountered a bottleneck.

Two years ago, New Dream had 40 college entrance examination art training bases across the country, but so far, only 8 have been added.

It’s not that we don’t want to increase the number, it’s just that there aren’t that many students.

The tuition is too expensive.

For the vast majority of rural students now, art education in school is the most suitable choice for them.

Fortunately, after more than four years, the overall number of art students has increased.

After art, a shortcut to the college entrance examination, became known to major universities, the number of art students, especially fine arts students, skyrocketed.

In just a few years, the number of students has grown from two to three hundred thousand to eight to nine hundred thousand now.

Even the number of students with new dreams has doubled.

As of the first quarter of 2004, the number of students taking art education in the New Dream College Entrance Examination exceeded 40,000, reaching 41,072, an increase of about 4,000 from last year.

Net revenue was 123 million Chinese dollars.

This includes not only tuition fees, but also accommodation, catering, sales of learning supplies, etc.

After deducting all expenses, the total profit of New Dream College Entrance Examination Art Education exceeded 45.2 million Chinese dollars.

Although the growth is rapid, it is not impressive compared to other businesses.

Early childhood art education and subject education have truly unlimited potential.

Over more than four years, New Dream has grown to 357 branches.

All over the first and second tier cities across the country.

Some rapidly developing third-tier cities also have branches of New Dreams.

Because kindergarten art education and subject education share the same building, there are as many subject education institutions as there are kindergarten art education and training institutions.

However, in terms of the number of classes, the former is much larger than the latter.

There are nearly twenty training classes for piano, violin, ballet, speech, and art.

Subject education is basically the main course, with language and mathematics as an exception.

It's too overwhelming, plus physics, chemistry, biology, and very little geography, politics, and history.

Especially politics and history, these two sciences are not good, not because of IQ, but because of laziness.

But even if all courses are open, there will only be nine classes.

Therefore, subject education, which once developed rapidly due to abundant teachers, has gradually fallen behind.

As of the first quarter of 2004, the net revenue of subject education was 334 million Chinese dollars, and the net revenue of kindergarten art training was 426 million Chinese dollars.

Finally, there is vocational education.

At the beginning, it was mainly a cooperation with Hongmeng, mainly training game original artists and cartoonists, and the number of people trained was limited, only 60 people in total.

However, as China's game market booms, more and more companies and capital want to invest in games, and they are increasingly hungry for talents.

Sohu, NetEase, Shanda, etc. also followed Hongmeng and signed a joint training agreement with New Dream.

New Dream's game training classes and comic classes have expanded from the original four to 12 each now.

In addition to game original paintings and comics, it also provides new training services such as game design, programming, interior design, advertising design, animation design, network engineer, system engineer, and software engineer.

Basically, there are special training courses here for all kinds of grassroots talents that Hongmeng needs.

And thanks to Hongmeng’s high-quality platform.

The training content of New Dream can keep up with the needs of market development, and every graduating student can plug and play.

Therefore, in addition to Hongmeng, the number of companies cooperating with New Dream, especially Internet and IT companies, has exceeded 100.

New Dream’s vocational training base has also developed from the capital to 13 cities across the country.

The number of trained personnel exceeded 10,000.

In the first quarter of 2004, it generated revenue of 45 million Huaxia coins.

The rapid development of the vocational training market has officially become a new business pillar of New Dream.

Peripheral businesses include New Dream Theater, concerts, dances, and New Dream Gallery.

Since the successful operation of small theaters, concerts and dances in Beijing last year, this model has been extended to New Dream’s 48 art training centers across the country.

Although the audience is large and small, under the careful cultivation of new dreams, the brand is gradually established.

Nationwide, there are an average of 2.56 million visitors per month, even though the ticket price is only 10 yuan.

But it also received a monthly revenue of 29.12 million.

The reason why is so much.

Hi, peanut and melon seed mineral water is also profitable.

The total in the first quarter was close to 90 million.

New Dream Gallery has also developed to all parts of the country with the help of New Dream Art Training Center.

Unfortunately, students' paintings cannot be sold at high prices, and the offline market is limited. On the contrary, the online market is gradually increasing.

Plus income from gallery visits.

In the first quarter of 2004, it barely exceeded 4 million Huaxia coins.

Although the business of small theaters and galleries is not high, the profits are too high.

In addition to giving a small portion of rewards to diligent students, New Dream’s profits are as high as 80%.

Taken together, New Dream's net revenue in the first quarter of 2004 reached 858 million Chinese dollars, and its net profit was 248 million Chinese dollars.

In addition, there are 270 million Chinese dollars in cash and short-term bonds on the books, as well as a training base in fifteen cities including Beijing, Magic City, Pengcheng, Yangcheng, and Wuchang, with a total of 567,000 square meters of commercial real estate.

For these properties, New Dream not only invested most of the financing money, but also took on foreign debt of 1.32 billion Chinese dollars.

However, the education and training industry is very profitable, so I’m not afraid of not being able to make it.

Taken together.

Excluding goodwill, New Dream has total assets of 3.78 billion Chinese dollars, long-term liabilities of 1.32 billion, cash and cash equivalents of 270 million, estimated annual revenue of 3.95 billion Chinese dollars, and annual profit of 780 million Chinese dollars.

After reading it, I put down the information, picked up the teacup and took a sip.

“You want your new dream to go public?”

This is also the reason why he came this time.

Teng Huaming nodded.

"The company's development has reached a bottleneck period. Unless new funds come in, we can only develop step by step. However, New Oriental has recently received investment from Defengjie and is planning to invest 200 million Chinese dollars in the field of subject education this year.

There is also Xueda Education. Although it started late, it received an investment of US$15 million from the Hanhua Mars 3 Fund. "

Looking at Teng Huaming's resentful eyes, Xu Liang smiled and said nothing more.

He does know about Mars 3 Fund’s investment in university education.

But it was not him who led it, but Zhang Ying’s first investment after taking over Mars 3 instead of Xu Xin.

“More and more capital and companies are pouring into the subject education industry. We not only have to compete with New Oriental and Xueda Education, but also compete with Beida Jade Bird, the leader in the vocational training field.

If New Dream wants to maintain its current leadership position, it must continue to invest. "

"You can choose to continue financing." Xu Liang said.

"Financing is indeed a good choice, but recently New Oriental is also planning to go public. I want to get ahead of them and become the first stock to go public in the education industry."

Xu Liang nodded, he could understand Teng Huaming's thoughts.

Sometimes the attention received by the first and second ones is completely different.

"Mr. Xu, I also plan to directly merge Ideal Education into New Dream and let New Dream be launched as a whole."

In order to avoid the national ban on subject education twenty years later, Xu Liang independently established Ideal Education to develop the subject education business of his new dream.

Moreover, this ideal education also carried out Series A financing in 2002.

IDG and Yingke used US$62.95 million to obtain 6% and 4% of the equity respectively.

If Ideal Education is merged, the equity of New Dream will definitely change.

After a brief consideration, Xu Liang agreed.

He is no longer the same person he was two and a half years ago.

Standing higher, the scenery is different, and I am too lazy to play with these little tricks.

"Just follow your idea, but I will let Hanhua Mars 3 Fund raise part of the financing. So you use this money to develop new dreams this year, and then IPO next year."

A high-quality project is a beautiful business card for venture capital investors.

After taking a share of Hanhua Ginseng, it will be easier to invest in education start-ups.

Teng Huaming did not refuse.

It's just financing, as long as Xu Liang doesn't refuse to go public.

"Where is the listing place? Xiangjiang or Nasdaq?" Xu Liang asked.