Chapter 1516: Profit-seeking is instinct

In the evening, Li Dong and the person in charge of MIH also had a talk.
Compared with ABSA, MIH does not want to abandon Teng Xun because of its different nature of holding shares.
No matter how many shares ABSA holds, one day MIH's parent company Naspers has more money in hand and can redeem these shares before the pledge period expires.
So the more Teng Xun increases, the more MIH earns.
In contrast to ABSA, the dividend profits they receive each year are not nominally dividends, but the interest paid by Naspers to ABSA.
The nature of the two shares is different, the benefits are different, and the considerations are naturally different.
ABSA is actually eager to use Teng Xun's equity in exchange for financing opportunities from afar, and get an excessive return.
MIH, in fact, hopes that the far side can fail and give Teng Xun a chance to rise.
However, hope comes back to hope. Today's Teng Xun cannot see this hope in a short time.
So MIH didn't do anything in the stock market a few days ago.
Actually, it's hard to think about it.
MIH's strength is not too strong. His parent company, Naspers, currently has a market value of only about US $ 15 billion, revenue in 2008 was only US $ 3 billion, and its profit was less than US $ 600 million.
The boss of Naspers has invested many companies in mergers and acquisitions all over the world in recent years. In fact, Naspers has no money now.
According to the analysis of professionals, if Teng Xun does not have any breakthroughs, he only waits for capital rescue and wants to keep the current stock price unchanged. Subsequent investment is hundreds of millions.
This billion 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 smashed 1.2 billion Hong Kong dollars into it. This money, even for Naspers, is not a small amount.
Ma Huateng dare to boast, but investment institutions dare not.
For institutions that are positioned at PE or VC, timely stop loss is necessary, and fueling tactics are a taboo for soldiers!
Few investment banks will continue to provide support when the investing companies encounter a crisis, and it is the general trend of the entire industry.
However, MIH did not want to give up Teng Xun, a multi-billion-dollar stock that was worth up to 7 billion US dollars a few days ago, which is equivalent to half of the Naspers Group.
Now say to give up, give up, who can give, who can be reconciled?
The conditions given by Li Dong are neither unconditional compensation, nor a means of financing.
Financing is actually synonymous with risk.
PP listing, can it really create greater value than Teng Xun?
For financing PP, the current fare pricing is not low. Even if a miracle is finally created, what is the rate of return?
Accounting is the instinct of all investment institutions.
After all the calculations, MIH found that the abandonment of Teng Xun and the reliance on a distant place were far from adequate.
But in the same way, neither give up Teng Xun nor rely on the distant place. If Teng Xun loses in the end, then they will lose all the money with a bamboo basket.
Today's form is that if you don't recover a little loss, you will lose all.
Of course, there is one last possibility, Teng Xun can stand up!
As long as Teng Xun still hopes to make a comeback, they will continue to support Teng Xun and get greater benefits. This is one of the most rewarding possibilities.
With the last glimmer of expectation, although the MIH people talked with Li Dong for a long time, they finally did not give a positive answer.
Before going out, the person in charge of the other party even said a standard Chinese "He Qi Sheng Cai".
Teng Xun, in fact, there is still room for cooperation with the distant place, and cooperation is for both benefits. There is no need to fight for life and death.
For this, Li Dong smiled.
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 let Naspers give up the rights of Teng Xun's stock redemption, and then sell off, Teng Xun's stock price will definitely fall again, even to the despair of everyone, if no one takes the order.
10.5% of the shares, this is not a small number.
Moreover, as soon as ABSA dumped, as the third largest shareholder, all of them sold off. Can others still stand?
Some large shareholders who are still in the hesitant period will also follow the trend, and some investors who want to gamble will follow the trend, and the real dare to gamble to the end is actually a small proportion.
Even if Ma Huateng and Teng Xun executives and MIH can be stabilized, there are still more than 30% of Teng Xun shares in the outside world. If the final sell-off reaches more than 20% of the shares, Teng Xun wants to keep the stock price from falling and at least have to take With more than 15 billion Hong Kong dollars of funds to rescue.
This money is not a small number for anyone, including Li Dong.
Of course, some large investment banks may not dare to gamble.
But at this time, PP also started financing, is it betting on the invisible future, or betting on PP supported by Li Dong?
So Li Dong said before, whether the two agree or disagree this time, he will open up financing channels.
The main point is to cut off the rescue and gambling of these investment banks.
Moreover, when PP introduces investment institutions, its strength will increase again. The strength of one side will be weakened, and the strength of one side will increase again. The winning rate will again favor many PPs. At this time, there are really few people who dare to gamble.
...
The person who sent MIH away, Li Dong sat back on the sofa and said for a long time: "In three days, I gave ABSA three days to allow them to find a way to let Naspers give up the right to redeem!
Three days later, regardless of the success of the other party, and regardless of what MIH considered, three days later, the official announcement of the news, PP financing!
Today, Teng Xun's share price has not fallen much, the key lies in yesterday's influence.
This kind of influence does not last long. Everyone is still watching, on the one hand, watching Teng Xun's own actions, and on the other hand, watching our actions.
Once we have a big move, Teng Xun's stock price will fall again in response! "
It's not the first time Li Dong likes to talk to himself. In fact, he didn't say this to Bai Su, not to Tan Yong, but to himself.
Bai Su, who was standing aside, did not pick up the remarks, but whispered: "President Li, the news of Yu'e Bao is now being hyped.
Even on the Internet, Yubao has absorbed tens of billions of funds!
About your trillion fund plan, it is also circulating on the Internet.
There are a lot of negative news online now. Some people say that illegal fund-raising is involved in the distance. Some people say that the exchange of virtual gold and silver for virtual numbers is a kind of damage to the financial system.
Many people still hope that the specific information of Yu'ebao will be disclosed from afar, including the flow of funds.
Now, there is a new vocabulary on the Internet, self-satisfaction!
Many people speculate that Yu'ebao's funds may be used for their own development from afar, because they involve their own physical industries, which is equivalent to financing their offline industries with online funds.
This is also criticized by many people.
There are even some well-known economic experts who are advocating government legislation to avoid risk in advance.
Before the emergence of the new bill, these experts suggested that Yu'ebao, Zhaocaibao, and LiTaiTong, which are network financing platforms, should temporarily do some restrictions and should not be promoted on a large scale. They can be used as pilots in some regions.
And the other party also suggested that before the pilot, each platform must pay a huge deposit to ensure the safety of the platform funds.
This point has also won the expenditure and recognition of many people ... "
Li Dong nodded and said: "This is not a bad idea. In fact, if it does not involve ourselves, I will suggest the same.
Internet finance has just appeared. At this time, it is indeed easy to go wrong if strict control and risk supervision cannot be done in the early stage.
Let's just say that the financial management team is now absorbing less funds. If there is more, this time Teng Xun encountered such a big crisis. Can they really hold back the funds?
Even if some funds were used to rationally use the funds, Teng Xun was finally finished. Who will ask for the money?
Therefore, legislation, supervision, paying huge deposits, and risk management are all necessary.
In addition, to raise this threshold, no enterprise can be allowed to enter, and any enterprise is qualified to build this platform, which is justified.
Of course, to say so, this is also for the entire market environment and the healthy development of the entire Internet financial industry ...
But now, we really don't have the money to pay this huge deposit. According to their statement, at least a few billions or more is considered a huge amount. At this time, where do we pay the money?
In addition, it is now nationwide. It is also very troublesome to make restrictions and carry out pilot projects ... "
Li Dong said with a slight sigh: "I thought of everyone making a fortune together and making a lot of money together. The three of us have benefits at all, and the joint effort will not cause such a big storm.
But now, we will not play with Teng Xun.
They can't take advantage of it, and naturally they don't want to take advantage of us. They even want to get us some trouble. It's normal.
Don't pay attention to this matter for the time being.
Wait for the government to respond.
Tell Yuan Chengdao that they don't need a hard cap this time. Once the government makes restrictions, we will compromise.
Now, we cannot afford to offend financial institutions.
There are nearly 80 billion loans in the bank from afar. If there is no other action from afar, it is not a problem to deal with them slowly.
Not now, now we do n’t have the energy or the time to fight them.
Otherwise, we will be in trouble. "
Li Dong's "compromising compromise" made Bai Su suddenly feel uncomfortable.
She didn't know why she raised this idea.
Li Dong's choice of compromise is actually a very correct choice.
But why is it uncomfortable?
Since the end of 2007, he has become Li Dong's secretary, the old classmate's secretary.
In recent years, Li Dong has had a lot of battles and victories. In fact, there have been compromises during this period, but generally they are not general compromises, nor do they involve distant strategic goals.
And even if compromises are reached, the distant place can generally maximize the benefits, and all kinds of struggles will not be interrupted.
This time, Li Dong hardly made any fights, so he easily conceded defeat.
Does Li Dong not value Yu'ebao?
In fact, it's not just Yu'ebao. Once compromised this time, even the entire million cartoons will be affected.
Wan cartoon, which is related to the entire remote Internet industry, the concept of Internet finance was also proposed and promoted by Li Dong himself at the Internet Conference.
During this period, Li Dong actually contributed a lot to Wantong and Internet finance.
Now, Li Dong has given up the struggle.
In a simple sentence, almost all the previous efforts and struggles have been hit.
Internet finance is not a decoy that diverts Teng Xun's attention. In fact, Internet finance is not even less valuable than defeating Teng Xun.
Li Dong said that it was because of Teng Xun. In fact, maybe he was tired, or his fighting spirit had disappeared. In short, in the view of Bai Su, when Li Dong said to give up, he must be struggling in his heart.
Such a strong man, such a man who is unwilling to be ordinary, and never admits defeat, this time he admits defeat.
Li Dong, is it really because he is getting married? Has the blood filled with blood once cooled down?
Bai Su also couldn't say clearly, and didn't know clearly. She only knew that such a choice should be painful for Li Dong.
...
Is Li Dong suffering?
Maybe it is a little bit, but it is far less complicated than Bai Su thought.
People are growing up, Li Dong has always said this sentence.
Maturity comes at a price.
Once the blood was boiling, once the battlefield and the battlefield, it was once.
Today, even Li Dong knows that he is far less passionate than before, and his blood is boiling.
Compromise is actually an art. Li Dong heard this many times, and now he has learned it.
Of course, this compromise is not unlimited, and their blood is still there when it is time to resist.
Like Ma Huateng, he has also compromised over the years, and he has compromised more than Li Dong.
However, this time, Ma Huateng was unwilling!
Soon after Li Dong sent away MIH's people, in another hotel not far from the peninsula, Ma Huateng looked at the big nose opposite and said slowly, "Dawei, do you really want to give up?"
The big nose opposite has known Ma Huateng for many years.
At the beginning, when Teng Xun was the most difficult, Ma Huateng ran around and even sold Teng Xun almost 600,000.
Later, despite the support of several institutions, but because Teng Xun had been burning money, several later were reluctant to continue to pay.
When Ma Huateng was desperate again, it was this big nose, Wang Dawei, who was the vice president of MIH Huaxia's business, broke into his office and gave Teng Xun a valuation of 60 million US dollars!
As a result, MIH entered Teng Xun, which allowed Teng Xun to have financial development and the legend of Teng Xun in later years.
This time, Teng Xun once again encountered a crisis. Although Wang Dawei in front of him no longer took office at MIH, the other party's entry into Teng Xun was actually the spokesperson of MIH in Teng Xun.
According to the original itinerary, Wang Dawei at the moment should be in the United States.
At this time, the other party appeared in Xiangjiang. Some things need not be explained, and everyone knew it.
Wang Dawei's Chinese is very good. It was not him who just led the team to meet Li Dong, but he knew all these things.
Hearing Ma Huateng's questioning, Wang Dawei sighed and said helplessly: "Pony, I've been fighting for you. But Teng Xun's current situation, I said it would be useless.
What kind of decision is made at the headquarters is not up to me or Li Dong.
The key lies in Teng Xun himself!
It is inevitable that Teng Xun cannot come up with a good plan, can't impress the headquarters, and give up.
I have feelings with you, they don't, they only have money in their eyes, no one can change this.
As long as Teng Xun can always create value, MIH and Naspers have no possibility of giving up.
but……"
Ma Huateng rubbed his cheek, he actually understood, a while later, Ma Huateng said again: "How long can you give me?"
This time is when MIH gave 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 this year's initial value, MIH will not give up.
Another point, if Teng Xun has new programs that can impress MIH, I actually hope you can inform these programs and buy time for yourself.
Even with a 10% probability, MIH will not make a decision quickly.
But if you can't do all of the above, you can only wait forever, then MIH will abandon Teng Xun sooner or later. "
Ma Huateng murmured: "You gave up below 50? Your patience is really strong."
Teng Xun, whose valuation was only 60 million US dollars at the time, still has a market value of more than 10 billion US dollars. If it falls below 50 Hong Kong dollars, the other party will be shaken?
Capital is really cold-blooded.
With a sigh of emotion, Ma Huateng already knows the other party's choice and can make money, then follow Teng Xun all the way.
If you can't make money, you can count how much profit you get back. In short, you won't be crazy with Teng Xun.
Market value is the foundation of Internet companies.
Without market value, how much money can you expect from profit distribution?
Teng Xun's profit last year was 2 billion ~ EbookFREE.me ~ It is impossible to pay dividends. Even if half of them go out, the profit of MIH will be more than 300 million. In fact, the dividend is much less than this.
For these investment institutions, the most fundamental source of profit is the market value of Internet companies.
If the market value drops, then the fundamentals of interest will be lost, and giving up is a matter of course.
The only thing that makes Ma Huateng a little uncomfortable is the psychologically expected price of the other party, 50 Hong Kong dollars!
Today, Teng Xun ’s share price was affected by yesterday, and Teng Xun is still buying back on a small scale. The decline is not large, but it has not risen. It is still around 54 Hong Kong dollars.
From this point of view, MIH is actually not so firm.
Otherwise, the psychologically expected price will not be set so close.
Ma Huateng exhaled and finally asked, "Li Dong, what did you pay for it?"
Wang Dawei shook his head and said nothing, some things could be said, some things could not be said.
No matter how good it is to have a personal relationship with Ma Huateng, Wang Da himself is now a senior executive of Teng Xun, but this kind of thing leaks in advance, not to mention the confidentiality agreement. This is also related to MIH ’s credibility and his own future. This kind of thing cannot be sold. Humane.
Ma Huateng smiled when he saw it, and didn't ask again.
"HK $ 50 ..."
With a murmur again, Ma Huateng already had a decision in his heart. Before MIH made a decision, he would not wait for them to make a decision.
Teng Xun can die in his own hands, or even in the hands of Li Dong, but he cannot be killed by these capital institutions!
If Teng Xun died of MIH's betrayal, that would be the greatest shame in his life!
Capital controls everything?
That depends on who is controlling it!
Now that the other party has exposed this fact, then do n’t blame yourself for not being human, everyone is only interested in it.