My 1999

As human beings, we all have the need to pursue better material conditions.

This is human nature.

Issuing corporate bonds does not dilute equity, killing two birds with one stone.

Therefore, Xu Liang saw obvious excitement on the faces of the three people.

Xia Zuoquan was the most obvious.

He is an investor and is very concerned about every tiny change in his own equity.

Especially with rounds of dilution, his equity in BYD is not much.

If he can raise funds for corporate development by issuing corporate bonds instead of issuing new shares, he will naturally be willing.

"Third, I can promise that half of the voting rights of BYD shares owned by Hongyan will be exercised by Mr. Wang Chuanfu.

Unless Mr. Wang leaves BYD, or BYD suffers a major loss of more than 20% for two consecutive years.

Otherwise, Hongyan will not take back the voting rights."

As soon as these words came out, Wang Chuanfu was instantly moved.

He didn't know whether Xu Liang was really optimistic about himself.

Or was it a stopgap measure to invest in BYD?

But no matter what, this third point really touched him.

Compared with money, what he cares most about is the future of BYD.

Or, the future of BYD under his control.

"I think these three points are enough to show the sincerity of Hongyan and me personally." Xu Liang said.

"Mr. Xu, how much do you value BYD?" Wang Chuanfu asked directly after a little thought.

"8 billion Hong Kong dollars."

Xu Liang affirmed.

BYD's current Hong Kong stock market value is about 6.8 billion Hong Kong dollars.

It has fallen by nearly 40% from its peak.

The reason for the decline is that BYD entered the passenger car industry and was abandoned by investors and institutions.

Another reason is the decline of the global battery industry this year.

Whether it is BYD, ATL, or Nanfu, the revenue in the first quarter of this year is not ideal.

Xu Liang gave a valuation of 8 billion Hong Kong dollars, which is already very generous.

"Mr. Xu, we need to discuss it before we can give you an answer."

"No problem.

I look forward to hearing from you three."

After chatting about everything, Xu Liang personally took the three people around the Lilac Garden.

After having lunch together, he sent them away.

Back to the Peninsula Hotel.

After closing the door and windows, Lu Xiangyang couldn't wait to speak.

"Chuanfu, Hongyan's conditions are very generous. It can not only enrich the company's operating funds, but also will not affect your management of the company."

Wang Chuanfu nodded, "Old Xia, what do you think?"

Xia Zuoquan smiled and said, "The reason why we rejected Hongyan's investment at the beginning was mainly because we were afraid that they would impact the company's management structure after coming in, affecting BYD's normal operations and corporate strategy.

Now that Xu Liang has taken the initiative to give up half of his voting rights to you, this worry no longer exists.

And with 1 billion Chinese yuan in operating funds, it is enough for continued expansion in the battery industry and development in the automotive industry.

My only worry is that, with the "Space Torch" and the original Qinchuan Automobile With the production capacity of this, our automobile production capacity will reach 65,000 vehicles per year.

If the F3 model is successful, we can smoothly digest this capacity and become a booster for BYD's automobile development.

But once it fails, it will be a huge waste. ”

Wang Chuanfu smiled and said: "One step to heaven, one step to hell. This pressure is indeed a bit high.

But this is a huge opportunity for BYD.

Once it succeeds, we can become a truly influential automobile giant in China.

It is worth taking a little risk.

Even if we fail, we still have 1 billion Chinese yuan given by Mr. Xu, and we still have the opportunity to start all over again. ”

"It seems that you are ready to agree?" Lu Xiangyang smiled.

"Yeah.

Such a good opportunity, it's a pity to miss it. ”

In the afternoon, Xu Liang received a call from Lao Wang.

The two parties also quickly signed a contract.

Xu Liang's investment of 2 billion Chinese yuan was converted into US dollars when he paid the money.

After all, BYD is a Hong Kong listed company and can invest directly in US dollars.

In this way, there is no need to use precious Chinese yuan assets.

Wait for the upcoming wave of appreciation of Chinese yuan with peace of mind.

However, Xu Liang invested a total of 250 million US dollars.

In April 2005, the exchange rate of the US dollar to the Hong Kong dollar was 1:7.75.

In other words, the 250 million US dollars totaled 1.9375 billion Hong Kong dollars.

According to the base investment of 8 billion Hong Kong dollars, Xu Liang obtained 19.5% of BYD's equity after completion.

Lao Wang originally held 26.95% of BYD's equity, and after dilution, there was 21.69% left.

The second largest individual shareholder, Lv Xiangyang, originally owned 16.142%, and after the listing and this round of dilution, there was 9.2% of the equity left.

The third largest individual shareholder, Xia Zuoquan, owned 8.44% of the equity before the listing, and after the listing and this round of dilution, there was 4.82% of the equity left.

Yangcheng Rongjie, once the largest institutional shareholder, has now become Hongyan.

Yangcheng Rongjie, which originally held 11.487%, has 6.55% left after two rounds of dilution.

It should be emphasized here that the actual controller behind Yangcheng Rongjie is Lv Xiangyang.

Adding the two together, Lv Xiangyang actually owns 15.75% of BYD's shares.

Second only to Hongyan and Wang Chuanfu.

In addition to these major shareholders, BYD's management holds 12.91% of the shares.

There are still 16.55% of BYD's circulating shares on the market.

Add some small shareholders who hold less than 1% of the shares, and that's the entire equity structure of BYD.

In addition, more than half of BYD's circulating shares in the market are in the hands of private equity funds under Hanhua.

If this part of the shares is counted, Xu Liang holds a total of about 30% of BYD's shares.

He is the veritable largest shareholder.

However, Xu Liang did not intend to concentrate all the shares under one institution, which would be too obvious.

At least on the surface, Wang Chuanfu, as a major shareholder of BYD, is conducive to the stability of the company.

In addition, after giving up half of the voting rights, Xu Liang also signed a supplementary agreement.

If BYD raises external funds, it must first ask Hongyan.

Hongyan has the right to give up investment, but BYD cannot refuse Hongyan's investment for any reason.

This supplementary agreement is a common anti-dilution clause in venture capital.

After finally getting a major stake in BYD, Xu Liang certainly does not want it to be diluted before it reaches its peak.

After the contract was signed, Xu Liang called Peng Zhiyu, who was still in Shanghai.

He asked him to meet with Wang Chuanfu for a talk.

To pave the way for the transfer of the "Space Torch" and "Dongfeng Off-road Vehicle" companies in the future.

Looking at the contract in his hand, Xu Liang breathed a sigh of relief.

Another goal that he had been thinking about for a long time was in his pocket.

——

"Brother Xu, it's so beautiful here."

Liu Qianqian stood in the "Phoenix Pavilion" of the Lilac Garden, leaning on the railing to look at the rippling "Unname Lake", her pretty face full of intoxication.

It happened that a ray of morning sun fell.

Let the white, jade-like skin be stained with a layer of gold.

The breeze was blowing, lifting a few strands of long hair.

From Xu Liang's perspective, the beauty at this moment seemed like an elf who had fallen into the mortal world, and she was beautiful in every way.

Turning her head to look at his admiring eyes, Liu Qianqian asked with a smile.

"Brother Xu, what are you looking at?"

"I'm looking at where this fairy came from and how beautiful she is."

Liu Qianqian said shyly, "I'm not as pretty as you say."

"Give me your hand."

Liu Qianqian obediently put her soft little hand in his broad big hand.

Xu Liang exerted force.

The little girl screamed.

Before she could come to her senses, her slender waist had been embraced by strong arms.

Warm and soft jade in his arms.

The strong masculine aura instantly enveloped her, and a strong sense of security also spread from the bottom of her heart.

But the beauty that made her a little intoxicated was soon interrupted by pain.

Looking at her slightly frowned brows.

"Does it still hurt down there?"

"Yeah."

"Have you applied the medicine?"

The little girl nodded with a rosy face.

"It will be fine after a few days. You will get used to it and it won't hurt anymore."

"Yeah."

Seeing her shy look, Xu Liang inexplicably thought of how she played with Cheng Huan under him the day before yesterday. His heart was warmed and his hands started to move.

Because the weather was hot, Liu Qianqian only wore a sky blue floral short-sleeved T-shirt on her upper body.

The slim design made her waist look even slimmer and more slender.

The V-shaped neckline revealed two halves of delicate collarbones, creating an attractive beauty nest.

From Xu Liang's perspective, a deep career line was in sight.

The gradually full lines, half-covered and half-hidden, were full of temptation.

The lower body was a white knee-length skirt.

Although the beautiful legs were covered, the half of the calf exposed was straight and slender, like white jade without any flaws.

Seeing it in the eyes, people couldn't help but imagine the infinite scenery under the skirt.

You can see the jade feet with light blue veins and beautiful lines.

The round toes are pink and cute.

Two pairs of white flat sandals for women, a little redundant.

Xu Liang's right hand reached in from the hem of the clothes.

After lingering on the willow waist for a while, he went up.

He pushed away the underwear that was in the way and satisfied his desire.

Liu Qianqian, who was wiping the car lights repeatedly, felt the heat in her body. Her fragrant head was pressed tightly against Xu Liang's chest, and her breathing gradually became rapid.

Suddenly.

The rapid ringing of the phone interrupted the increasingly hot atmosphere between the two.

Liu Qianqian's body trembled, and she quickly pressed down his big hand that was playing tricks on her chest.

"Xu... Brother Xu, the phone."

Xu Liang wanted to refuse, but seeing her panic and pleading, he finally took his hand out.

The pain of the first night made her a little scared.

Especially now that her body is not well, her heart is trembling.

She took out her mobile phone and looked at the caller ID.

Pressed the answer button.

Jiang Xiaoyang's voice came over quickly.

"Boss Xu, are you still in Shanghai?"

"Yes, didn't I just finish talking to BYD?"

"Are you optimistic about it?"

"Of course. Otherwise, why would I sell the shares of Aerospace Torch and Dongfeng Off-road Vehicle to it?"

"Since you are optimistic about it, why don't you just buy it directly?"

"I do want to, but I can't do anything if they don't sell it."

"You won't sell it even if you spend money?" Jiang Xiaoyang laughed.

"That's not the case. If I am willing to double the price, I will probably be able to acquire it.

But there is no need for this. The key to BYD's success is that it has an excellent team.

If I acquire it and the people run away, I will lose a lot.

It's good now.

They develop the company and I share the profits.

By the way, why are you so concerned about my investment?"