Chapter 1516 Pursuit of Profit Is Instinct

In the evening, Li Dong also had a talk with the person in charge of MIH.

Compared with ABSA, MIH does not want to give up Teng Xun, nor does it want Teng Xun to collapse because of the different nature of its shareholding.

No matter how many shares ABSA holds, MIH's parent company, Naspers, will be able to redeem these shares before the pledge period expires.

So the more Teng Xun rises, the more MIH earns.

In contrast to ABSA, the dividends they receive every year are actually not dividends in name, but interest paid to ABSA by Naspers.

The nature of the holdings of the two is different, the benefits are different, and the considerations are naturally different.

In fact, ABSA is eager to use Teng Xun's equity in exchange for opportunities to raise funds in distant places and get excess returns.

As for MIH, in fact, it is more hoped that Yuanfang will fail and give Teng Xun a chance to rise.

However, hope belongs to hope, and today's Teng Xun cannot see this hope in a short time.

Therefore, MIH did not take any action in the stock market a few days ago.

In fact, it is difficult to think about it.

The strength of MIH is not too strong. Its parent company, Naspers, currently has a market capitalization of only about US$15 billion. In 2008, its revenue was only US$3 billion, and its profit was less than US$600 million.

The boss of Naspers has acquired and invested in many companies all over the world in the past few years. In fact, Naspers does not have much money now.

According to the analysis of professionals, if Teng Xun itself does not make any breakthroughs and is only waiting for capital rescue, and wants to maintain the current stock price unchanged, the follow-up investment will be hundreds of millions.

This 100 million is in US dollars, not Hong Kong dollars.

On the 4th day, in order to maintain the price of 55 Hong Kong dollars, Teng Xun invested 1.2 billion Hong Kong dollars in it. This amount of money is not a small amount even for Naspers.

Ma Huateng dares to bet, but investment institutions dare not.

For institutions that are positioned in PE or VC, it is necessary to stop losses in time, and the tactics of refueling are a taboo for military strategists!

Few investment banks will continue to provide support when the companies they invest in are in crisis. Adding insult to injury is the general trend of the entire industry.

However, MIH is really reluctant to give up Teng Xun's stock worth billions of dollars. A few days ago, it was even worth as much as $7 billion, which is equivalent to half of the Naspers group.

Now if you say give up, give up, who can be willing, who can be willing?

The conditions Li Dong gave were not unconditional compensation, but a means of financing.

Financing is actually synonymous with risk.

Can PP listing really create greater value than Teng Xun?

For financing PP, Yuanfang’s pricing is not low at present. Even if a miracle is created in the end, what is the rate of return?

Calculating accounts is the instinct of all investment institutions.

Counting and calculating, MIH has found that the rate of return is far from enough to abandon Teng Xun and seek refuge in a distant place.

But in the same way, if they don't give up on Teng Xun, and don't seek refuge in a distant place, if Teng Xun himself loses miserably in the end, then they will lose nothing, and the loss will be even worse.

The current form is that either a little loss can be recovered, or all losses can be lost.

Of course, there is one last possibility, Teng Xun can still stand up!

As long as Teng Xun still has hope of making a comeback, they can continue to support Teng Xun and gain greater benefits. This is the most rewarding possibility among all the possibilities.

Holding the last sliver of expectation, although the people from MIH talked with Li Dong for a long time, they still did not give a positive answer in the end.

When they were about to leave, the person in charge of the other party even said a standard Chinese sentence, "harmony makes money".

Teng Xun, in fact, there is still room for cooperation with Yuanfang, and cooperation will benefit both sides. There is no need to fight to the death.

For this, Li Dongyi smiled.

The MIH people are still in a period of hesitation for the time being. He can understand that now it seems that the greatest hope is ABSA.

As long as the other party finds a way to make Naspers give up the right to redeem Teng Xun's stock,

Then sell it, and when no one takes the order, Teng Xun's stock price will definitely plummet again in response, and even fall to the despair of everyone.

10.5% of the shares, this is not a small amount.

Moreover, once ABSA was thrown away, as the third largest shareholder, it was sold off. Can others sit still?

Some major shareholders who are still in the hesitation period will also follow suit and sell, and some shareholders who want to gamble will also follow suit. In fact, a small proportion of those who really dare to gamble to the end.

Even if Ma Huateng, Teng Xun executives and MIH can stabilize, but the outside world still has more than 30% of Teng Xun's shares. If the final sell-off reaches more than 20% of the shares, Teng Xun wants the stock price not to fall, at least he has to buy more More than 15 billion Hong Kong dollars will be provided for rescue.

This amount of money is not a small number for anyone, including Li Dong now.

Of course, some large investment banks may not dare to take a gamble.

But at this time, PP also started financing. Is it a bet on an invisible future, or a PP with Li Dong's support?

That's why Li Dong said before that no matter whether the two companies agree or disagree this time, he will open financing channels.

The main point is to cut off the rescue and gambling of these investment banks.

Moreover, PP has introduced investment institutions, and its strength will increase again. One side's strength will be weakened, and the other's strength will increase again.

...

After seeing off the MIH people, Li Dong sat back on the sofa and said after a while: "Three days, I will give ABSA three days to find a way to make Naspers give up the right to redeem it!

Three days later, regardless of whether the other party is successful or not, and regardless of what MIH thinks, three days later, the official announcement will be made that PP will start financing!

Today, Teng Xun's share price has not fallen much, the key lies in the impact of yesterday.

And this kind of influence will not last for too long. Everyone is still in a wait-and-see state. On the one hand, they are watching Teng Xun's own actions, and on the other hand, they are waiting to see our actions.

Once we make a big move, Teng Xun's stock price will fall again in response! "

It's not the first time that Li Dong likes to talk to himself. In fact, he didn't say this to Bai Su, let alone Tan Yong, but to himself.

Bai Su, who was standing aside, didn't answer the question, but said in a low voice: "Mr. Li, the news about Yu'e Bao has been greatly hyped.

It is even advertised on the Internet that Yu'e Bao has absorbed tens of billions of funds!

Regarding your trillion-dollar fund plan, it is also widely circulated on the Internet.

Now there are a lot of negative news on the Internet. Some people say that Yuanfang is involved in illegal fund-raising, and some people say that exchanging real money for virtual numbers is a kind of damage to the financial system.

There are also many people who hope that Yuanfang will disclose the specific information of Yu'ebao, including the issue of capital flow.

Now, a new vocabulary has emerged on the Internet, self-melting!

Many people have speculated that Yu'E Bao's funds may be used by Yuanfang for its own development, because it involves its own physical industry, which is equivalent to using online funds to finance its own offline industries.

This point has also been criticized by many people.

There are even some well-known economic experts who are advocating government legislation to avoid risks in advance.

Before the new law appeared, these experts suggested that online financing platforms such as Yu'ebao, Zhaocaibao, and Licaitong should impose some restrictions temporarily, and should not be promoted on a large scale. They can be piloted in some areas.

Moreover, the other party also suggested that before the pilot, each platform must pay a huge deposit to ensure the safety of platform funds.

This point has also been paid and recognized by many people..."

Li Dong nodded and said: "It's not a bad idea, in fact, if it didn't involve us, I would suggest the same way.

Internet finance has just emerged. At this time, it is indeed prone to problems if strict control and risk supervision cannot be achieved in the early stage.

Let’s talk about Licaitong. Now they have absorbed less funds. If there are more funds, and Teng Xun encounters such a big crisis this time, can they really resist using this fund?

Even if some plans are adopted and the funds are used rationally, in the end Teng Xun is finished, who is going to ask for the money?

Therefore, legislation, supervision, payment of huge deposits, and risk control are all necessary.

In addition, to raise the threshold, no company can be allowed to enter, and any company is qualified to build this platform, which is what it should be.

Of course, to say so, it is also for the whole market environment and the healthy development of the whole Internet financial industry...

But now, we really don't have the money to pay this huge deposit. According to them, at least several billion yuan is considered a huge amount. At this time, where do we get the money to pay?

Also, now that it has been deployed nationwide, it will be very troublesome to restrict and carry out pilot projects..."

As Li Dong talked, he sighed slightly: "Before, I thought that everyone would make a fortune together, and we would make a fortune together silently. It's just the three of us, anyway, we all have interests to speak of. If we join forces, there won't be such a big turmoil.

But now, we don't bring Teng Xun to play.

Seeing that they can't take advantage of it, they naturally don't want to take advantage of us, and even want to cause us some trouble, which is quite normal.

Don't worry about this matter for now.

Waiting for a response from the government.

Tell Yuan Chengdao and the others that there is no need to force it this time. Once the government imposes restrictions, we will obediently compromise.

Now we cannot afford to offend financial institutions.

Yuanfang is in the bank, and there are loans as high as 80 billion. If Yuanfang does not do anything else in normal times, and deal with them slowly, this will not be a problem.

Not now, we don't have the energy or the time to fight them.

Otherwise, it will be us who will be in trouble at that time. "

Li Dong's words "obediently compromise", made Bai Su suddenly feel a little uncomfortable.

She didn't even know why she had such thoughts.

Li Dong's choice to compromise is actually a very correct choice.

But why is it uncomfortable?

From the end of 2007, I became Li Dong's secretary, the secretary of this old classmate.

Li Dong has won many battles in the past few years, and there were actually compromises during the period, but generally they were not compromises in the general direction, nor did they involve distant strategic goals.

And even if there is a compromise, Yuanfang can generally maximize its benefits, and the various struggles will not stop.

But this time, Li Dong hardly made any resistance, and just surrendered so easily.

Is it because Li Dong doesn't value Yu'e Bao?

In fact, it's not just Yu'ebao. Once compromised this time, even the entire Vancard will be affected.

Wanka is involved in the entire Yuanfang Internet industry. The concept of Internet finance was also proposed and promoted by Li Dong himself at the Internet Conference before.

During this period, Li Dong actually contributed a lot to Wanka and Internet Finance.

But now, Li Dong gave up fighting.

In a simple sentence, almost all the hard work and struggle in the early stage were in vain.

Internet finance is not a bait to divert Teng Xun's attention. In fact, Internet finance is not even less valuable than defeating Teng Xun.

Li Dong said it was because of Teng Xun, but in fact, maybe he was tired, maybe his fighting spirit disappeared. In short, in Bai Su's view, when Li Dong said to give up, he must have been struggling inside.

Such a strong man, such a man who is not willing to be ordinary, and who will never admit defeat, just surrendered this time.

Li Dong, is it true that because he is going to get married, the blood that was once full of enthusiasm has cooled down now?

Bai Su couldn't explain clearly, nor could she tell the difference. She only knew that such a choice should be painful for Li Dong.

...

Is Li Dong in pain?

Perhaps there is a little bit, but it is far from as much and as complicated as Bai Su thought.

People are growing up, Li Dong has been saying this all the time.

Maturity, after all, has a price to pay.

The blood boiled in the past, the battlefield in the past, that was all in the past.

Today, even Li Dong himself knows that he is far less passionate and passionate than before.

Compromise is actually an art. Li Dong has heard people say this many times, and now he has also learned it.

Of course, this kind of compromise is not unlimited. When it is time to resist, their blood is still there.

Just like Ma Huateng, he has also compromised over the years, and he has compromised more than Li Dong.

But this time, Ma Huateng was unwilling!

Not long after Li Dong saw off MIH's people, in another hotel not far from the peninsula, Ma Huateng looked at the big nose opposite and said slowly: "Dawei, are you really going to give up?"

The big nose on the opposite side has known Ma Huateng for many years.

At the beginning, when Teng Xun was in the most difficult time, Ma Huateng ran around and even sold Teng Xun for almost 600,000 yuan.

Later, despite the support of several institutions, because Teng Xun kept burning money, several institutions were unwilling to continue to contribute money.

Just when Ma Huateng was in despair again, it was the big-nosed Wang Dawei, who had been the vice president of MIH Huaxia Business, broke into his office and gave Teng Xun a valuation of 60 million US dollars!

As a result, MIH entered Teng Xun, allowing Teng Xun to have funds for development, and the legend of Teng Xun in the next few years.

This time, Teng Xun encountered a crisis again. Although the Wang Dawei in front of him is no longer employed at MIH, but the other party joined Teng Xun, in fact, he is the spokesperson of MIH in Teng Xun.

According to the original itinerary, Wang Dawei should be in the United States at this moment.

At this time, the other party appeared in Xiangjiang. There are some things that need not be explained, and everyone knows it well.

Wang Dawei's Chinese is very good. He was not the one who led the team to meet Li Dong just now, but he knows all these things.

Hearing Ma Huateng's questioning, Wang Dawei sighed and said helplessly: "Pony, I have been fighting for you, but Teng Xun's current situation, no matter how much I say, it is useless.

What kind of decision is made at the headquarters is not up to me, nor is it up to Li Dong.

The key lies in Teng Xun himself!

Teng Xun couldn't come up with a good plan, couldn't impress the headquarters, and it was inevitable to give up.

I have feelings for you, they don't, they only have money in their eyes, and no one can change this.

As long as Teng Xun can continue to create value, MIH and Naspers have no possibility of giving up.

But……"

Ma Huateng rubbed his cheeks, he actually understood everything, after a while, Ma Huateng said again: "How long can you give me?"

This time is the time for MIH to give up Teng Xun.

Wang Dawei pondered for a moment and replied: "It depends on the specific situation. If Teng Xun's situation improves and the stock price does not fall below the initial value of this year, MIH will not give up.

Another point, if Teng Xun has new plans that can impress MIH, in fact, I hope you can tell these plans to buy time for yourself.

Even if there is only a 10% probability, MIH will not make a quick decision.

But if you can’t do all the above and can only wait forever, then it will be a matter of time before MIH abandons Teng Xun. "

Ma Huateng murmured: "You gave up when you fell below 50? Your patience is really strong."

Teng Xun, whose original valuation was only US$60 million, now has a market value of more than US$10 billion. If it falls below HK$50, will the other party be shaken?

Capital is really cold-blooded.

With a sigh in his heart, Ma Huateng already knew the other party's choice, and if he could make money, he would follow Teng Xun all the way.

If you can't make money, you can count as much profit as you can get back. In short, you won't go crazy with Teng Xun.

Market value is the foundation of Internet companies.

How much money can you have without a market value and expect profit dividends?

Teng Xun made a profit of 2 billion last year, and it is impossible to share all of them as dividends. Even if half of it is distributed, MIH's profit will be more than 300 million. In fact, the dividends are much less than this.

These investment institutions, the most fundamental source of profit is the market value of Internet companies.

If the market value falls, the foundation of interest will be lost, and it is only natural to give up.

The only thing that made Ma Huateng a little uncomfortable was the price expected by the other party, 50 Hong Kong dollars!

The stock price of Teng Xun today, affected by yesterday, and Teng Xun’s small-scale repurchase, has not fallen much, but it has not risen, and it is now maintained at around 54 Hong Kong dollars.

From this point of view, MIH is actually not that firm.

Otherwise, such a close psychological expectation price would not be set.

Ma Huateng let out a breath, and finally asked, "Li Dong, what price did you pay?"

Wang Dawei shook his head and said nothing, there are some things that can be said, and some things that cannot be said.

No matter how good the personal relationship with Ma Huateng is, Wang Dawei himself is now an executive of Teng Xun, but this kind of thing was leaked in advance, not to mention the reason of the confidentiality agreement, it is also related to the reputation of MIH and his own future, this kind of thing cannot be sold Human.

Seeing this, Ma Huateng smiled and didn't ask any more questions.

"50 Hong Kong dollars..."

Muttering again, Ma Huateng had already made a decision in his heart, and before MIH made a decision, he would not wait for them to make a decision.

Teng Xun can die by his own hands, or even Li Dong's, but he can't be killed by these capital institutions in the end!

If Teng Xun died because of MIH's betrayal, it would be the greatest shame in his life!

Capital controls everything?

It also depends on who is controlling it!

Since the other party has exposed this bloody fact, then don't blame yourself for being unkind, everyone is only interested.