Salted Fish’s Self-help Strategy

Uncle Sheng felt quite strange, and it seemed necessary to get to know Chu Yuanxi again. He thought that what Chu Yuanxi wanted was a price increase. How beautiful is the price increase. Of course, raising the price on the basis of 30 billion won't only raise 300 million. This is a lot of money. It is also good to have more points for dividends next time, at least it has an intuitive impact on each co-founder.

As a result, I didn’t expect that Chu Yuanxi’s main concern was Disney’s willingness to replace the copyright of Animal Company as a whole. Is this too new? The contract signed with the Americans did not restrict this matter. As a witness to the contract, he knew very well. In other words, no matter what Chu Yuanxi did, there was no problem. What did he do?

But at this time there was no way to ask...Uncle Sheng had to tugged Chu Yuanxi's sleeves and whispered, "There is no need for extra branches, right?"

"How can it be called extra-junctions?" Chu Yuanxi formulated three negotiation goals based on the latest situation, and said while listening to the phone: "We must first consider the interests of our partners, and then our etiquette, so that our friends will become more and more. Many. We are not only responsible for signing the contract. The tacit part is also responsible for maintaining at least one result that is satisfactory to all parties."

Uncle Sheng had no choice but to watch Chu Yuanxi's performance silently. Why don't you tell me?

It should be said that some internal information is completely unknown to the uncle Sheng who is only responsible for copyright, such as the comprador theory explained by Elizabeth to Chu Yuanxi. So he didn't know Chu Yuanxi's three negotiation goals, and it was only natural that he could not understand Chu Yuanxi's negotiation strategy.

Soon a trans-ocean call was about to be finished. The time here is after dinner and just before breakfast there. As an experienced professional manager, Defoe obviously cannot give his attitude right away, although he also knows if Chu Yuan Xi insists on selling, his attitude does not have a substantial impact.

"This has an impact on us... it may disrupt our plans," Defoe said at last, "but since the acquirer is stronger...In short, we need a little time to study it."

Chu Yuanxi said apologetically and put down the phone, and smiled at Lao Fan, "President Fan, you have to testify to me, I really didn't rely on "Animal Company" to increase the price."

"By the way...Why do you attach so much importance to the increase or not?" Lao Fan was stunned. Didn't you plan to increase the price by 10 billion last time? I have never seen such a big mouth, especially Zhang facing me. Why did you turn 180 degrees this time?

"Is this unclear? It has a bad reputation. I have reached a thigh-holding project with Disney. Once I hold my thigh, I packaged the project and sold it at a premium. Isn't that a speculative contract? It means I sold my thighs. , What's the matter? Who would dare to hold me in the future? So I was too difficult. Not only did I have to deal with it to the satisfaction of all parties, but I also had to pay attention to reputation." Chu Yuanxi frowned.

Lao Fan's face suddenly looked strange, and he asked the question, isn't that what you are doing? "But, but you still have to add money to the price we give. Who knows where your money is added to?"

"Don't mention it, the mini-game plan is really hard to explain in one word." Chu Yuanxi said and glanced at Uncle Sheng vaguely, and found that Uncle Sheng had entered the state, and said nothing, quietly serving as the background board, which was very good. "So I was considered young and frivolous before."

"Ouch!" Old Fan was overjoyed, saying that it went so smoothly, so I can hardly imagine it! "So you don't plan to increase the price?"

Unexpectedly, Chu Yuanxi actually said: "If you can accept the separation of the small game IP and keep it in the Pakistani group, I think it is OK."

"Then how to strip it?" Of course, Lao Fan quit. Because although the formal due diligence needs to wait until TS is signed, the public information can be directly queried. Big Entertainment's early adjustment to Pakistani games has already started, but the core data is not visible. The Pakistani Group is relatively transparent, so for the companies to be acquired, especially the transaction volume is still so large, of course, Lao Fan knows all the information well.

The mini game IP was singled out by Chu Yuanxi to make a wish during the last negotiation, and it must be the focus of the investigation. As a result, I found that this method is not only about pushing up the prices of a few IPs, but also not only about the order of games first and then IP, so that IP development can be based on the promotion of games and reduce invalid creation. It is a long-term mechanism that improves the overall success rate of game companies in developing games. It belongs to the category of methodology, belongs to genes, belongs to infrastructure construction, and what improves is the foundation.

In the Tianchao game market, there are countless games released every year, and only less than one percent can achieve a certain degree of success, so that most game companies have begun to chase IP. Why? It is to increase the success rate of issuance for hot start.

The method of mini-games directly screens out game players as hot-start seed users, which is fundamentally different from pure IP-based games. It is equivalent to iterating the original method, not only to obtain more accurate game target users, but also to use the proliferation properties of mini games to enhance the influence of IP, and get as many fans and attention as possible.

So another question arises. From a commercial point of view, the small game IP plan is actually a model innovation, but it is not a technical barrier. Is it possible to directly follow the trend? Is it possible to run the entire process through a strong group combat capability? Even better than the Pakistani game?

If it can, then it is obviously more proactive in the negotiation.

But it is difficult to argue, because it takes at least two years to complete the whole process. Starting from the creation of IP, to the production and launch of small games, to activating viral forwarding to acquire players, and then game companies develop corresponding large-scale games, with the ultimate goal of making profits. There are many links, and any failure in any link will lose the chance to try.

Therefore, its argumentation work seems very virtual, because the Pakistani games that proposed this structure have just begun to run the process. If it is not a game, but any other business behavior, Ali can come to a conclusion based on his huge and long accumulation of experience. Only in the field of games, I am sorry that there is no valuable accumulation.

Therefore, its value is unknown, so making money is actually an option, even Ali's best option. The merger was just right, so I changed it to promote it myself and continued to run.

I saw Chu Yuanxi waved his hand, "If it can't be stripped, then I still have to add a little. Zhang Ming talked to me before, he is willing to buy only a small game IP plan, let me split it out, and is willing to give me 2 billion."

Uncle Sheng knew about this, but didn't know the result. As soon as I heard it, my heart contracted violently! what? What? Can this thing be worth 2 billion? Sell ​​it! What are you doing?

As a result, Chu Yuanxi said, "But I can't sell it. You are in front. I have to listen to your opinion first."

Uncle Sheng's heart opened with a "bang", it was irritated, and his heart said what crime I have suffered, come to listen to this kind of negotiation...

But Lao Fan was not tepid: "At that time, your mini-games weren't'in a word', right?"

"You can't say that, Mr. Fan, the data of the mini game is quite good compared to others, but the standard I set is too high. Besides, such a system can definitely consolidate the company's business. There must be value, but there is no me. It’s just as high as I thought."

…………

During the fierce bargaining, Uncle Sheng opened his eyes. Chu Yuanxi constantly emphasized that 3 million DAU is not the upper limit of "Animal Company", because the Pakistani people did not directly buy the amount, all of which are natural fans. This game is actually better than performance. The data came out better.

And Lao Fan clearly pointed out that as a way of cultivating IP, the amount of purchase is not good, which is very bad for the small game IP plan. Although the players you bought also play your games, they still have to transform a few waves through operations and filter out a large number of IP fans that have successfully converted. They are far inferior to players who are naturally attracted, and they are easily IP fans.

But Chu Yuanxi put out the data again, 79% of the time retention, 48% of the week retention, no matter how you say at least the foundation of "Animal Company" is proper, even from the perspective of pure game operation before 10 million DAU The purchase amount is definitely profitable. For this game alone, it can be sold for a lot of money, not to mention that it is linked to the "Animal Company" IP. In the future, there will be Disney's blessing.

Lao Fan is unmoved. The retention rate of IP fans is inherently high, and mini games are very sensitive to retention. It is normal to be higher.

In short, Chu Yuanxi bit the point. The value of the mini-game IP plan lies in the mechanism itself, not just generating a few IPs suitable for games and attracting game players to join the fans. Although Lao Fan recognizes the value of this mechanism, what is his value? He was sure that Chu Yuanxi could not come up with an exact value model.

Unexpectedly, Chu Yuanxi smiled and threw out a set of data, "Have you ever considered the possibility that I will separate Pakistani games to operate Xiangjiang’s listing? The Chinese mobile game will ring the bell for the IPO in a week. The issue price is estimated to exceed 5.7 billion yuan based on ￥, and the cornerstone investor group is extremely strong. You should know the profitability of China Mobile Games?"

The situation of the Chinese mobile game is public. If you want to IPO, you must open the prospectus. Last year, it made a profit of more than 300 million yuan, and it soared to 250 million in the first half of this year, which is slightly worse than the week when the mobile game "Unwinding" was launched. Revenue, this is not even considered as the agent share of the overseas part of Pakistani Games.

But the uncle of this kind of information didn't know. When I listened to it, my ears immediately became ridged. According to the profit and stock price of the mobile game, Pakistani games should be worth at least 100 billion, nothing said! Damn 30 billion, we don't sell it!

What he knows is that accepting listing counseling, submitting a prospectus, operating an IPO process, etc. are actually programmed for a long time, and there are specialized agencies that provide one-stop services. As long as the performance has arrived and the data is true and reliable, and the industry is okay, if it is not a black product, it is crooked, and there is no problem on the Xiangjiang Exchange.

Since the media is a little bit close, but the game company is fine, there are more mainland game companies going to Xiangjiang to go public! correct? Why didn't Chu Yuanxi split and go public? Collectivization is a coup!

Just listen to Chu Yuanxi's question: "Why do you say that the Chinese mobile game can get such a high issue price as close as 12 times the PE? What is his advantage? Or what are the disadvantages of the Pakistani game compared to the Chinese mobile game?"

Lao Fan's eyebrows were twisted into a knot, because he understood more than Uncle Sheng, he understood. The so-called cornerstone investors are the investors who subscribed to Xiangjiang's IPO. They promise to buy at the IPO price and then lock in, which is different from the underwriter system of our large A shares.

The Xiangjiang IPO does not have the myth of new stocks of my big A shares. Some of them broke that day. Investors in China Mobile Games are a number of trendy star companies including China Reading Group, Kuaishou, and Station B. All of these organizations can recognize the accounts, indicating that China Mobile Games is indeed worth so much money.

The question that Chu Yuanxi asked was actually asked internally by Ali, but in another form, assuming that Pakistani Games now launches Xiangjiang's IPO, how much can the listing price be? This kind of more financially professional problem, especially the method of estimating the issue price is the most familiar to Ali, and the model is just that, and then the shortcomings of the Pakistani game are naturally seen.

Today Chu Yuanxi asked this, and Lao Fan immediately matched the number. The strength of the mobile game is the short board of the Pakistani game. China Mobile Games reserves a large number of super IP authorizations, such as "One Piece", "Dragon Ball", "Naruto", "Dragon Race", "Legend of Sword and Fairy", "Monopoly" and so on. At the same time, the product line is extremely rich, and the operation capability is also considerable after the test. There are more than a dozen models of mobile game products with a life force of three years, and the monthly turnover is tens of millions, hundreds of millions, or even 200 million.

This is the guarantee of longevity and the value of higher PE given by the market. 12 times PE is indeed not low for game companies, but for the entire market, compared with other types of chemical, agricultural, automotive, electronics and even mobile phone industries, it can be said to be at the absolute bottom, even in the economic winter. Of today. The Pakistani game does not have this kind of background.

But the monthly turnover is so high, why can't the profits rise? Because buying costs swallowed most of the profits. This aspect is common to domestic game companies, and there is no abnormality in the purchase volume data of Chinese mobile games.

However, this is precisely the longboard of the Pakistani game. The thing about "Out of the Wind" is that it doesn't buy much. It's not that you don't buy it at all, but once DAU falls below 35 million, you will buy a wave. After the rush, it will die down and maintain the best cost VS income.

Because of the high retention rate and the secondary forwarding and spreading of users, it naturally attracts fans. Therefore, the R&D costs and purchases of Pakistani people account for half of the cost, and the R&D expenditure of those more than 100 people is only a fraction of that of hundreds of millions of dollars . This was actually Chu Yuanxi ordered Pakistani games to repeat the wheel, and added a lot of expenses since the media operation post.

The information of Pakistani games is the first-hand data obtained by Ali through many game channel vendors, such as 360, Xiaomi, Blue and Green, etc., and it is completely untrue. So Lao Fan understood it as soon as he heard it. The mini game IP plan to make up for the shortcomings of the Shangbaren game for one and a half years, but it does not affect the longboard. The Nabaren game can calculate the market value afterwards. It's different!

What does this show? Today’s negotiations went smoothly, which made Lao Fan’s brains more useful. At this moment, his mind turned quickly, indicating that the IP of Pakistani games and the IP of game companies like China Mobile Games are not the same IP. They are just called "IP", but the understanding of IP, the development process and ideas, as well as the control and maintenance methods are completely different.

He is a tycoon who is more adept at using economic models to view the business world. These two types of IP only consider economic status and financial models, and their characteristic is that other game companies obtain IP authorization. Regardless of whether you buy an authorization or use a strong position to provide the conditions for sharing, it is always the traditional way. Get it for a hot start, so they still have to buy the amount after they have the IP.

In Pakistan, I make my own IP and nurture good fans. I take the entire IP chain and make full use of the characteristics of IP. As long as I do it, I can operate efficiently. Revenue is profit.

But financial aside? Why can traditional game companies only use IP visibility for hot start? Lao Fan thought about this question three times but couldn't find the answer.

Furthermore, he once again doubted whether a small game IP project following the trend can achieve the same goal as the Pakistani game~www.wuxiaspot.com~ The last question cannot be answered, and this question cannot be ignored.

The speed of thinking is extremely fast, Lao Fan thinks a lot, but time passes very short. And he didn't expect that Uncle Sheng, who has been working on the background board, suddenly asked: "Why don't we split and go public? Even if we have disadvantages, the price of IPO for Pakistani games will not be less than 30 billion, right?"

This problem of at least two shots slowed Chu Yuanxi very helpless, "Uncle, Ali bought it and gave it cash, cash. Or stocks plus cash."

Although this is a reason, it is obviously not the true answer. The real answer is, who will be the chairman of Pakistani Games? Zhao Jie? Zhao Jie is choking to be the CEO of a listed company. Isn't it purely funny to be the chairman? Although the Pakistani Group can continue to reduce its holdings after the IPO, it cannot make this company a laughing stock. But the only person in the company who has the authority of the chairman of the board is yourself, so don't do it well off!

However, his answer was so sincere. It made Lao Fan laugh. After a happy laugh, he said, "I understand what you mean. Do you want to say that Pakistani games have genes? The question is, what is a gene? ?"

"What is a gene? I can do this, but you can't do it. This is called a gene. When you can do it, you will be injected with this gene."

"Well, it makes sense, it makes sense!" Lao Fan finally realized that if his side forcefully followed suit and understood the small game IP plan mechanically as a model innovation, it was likely to fall into the pit and continue to lose money.

This set of mechanisms is craftsmanship and craftsmanship. Unfortunately, there is no IOS certification standard. It can't be saved by mobilizing a group of forces casually. It can only be learned by a master.

"So...Mr. Chu, do you make a price?"

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