King of Capital

Stagnation, infinite stagnation.

It was like a low-quality movie with out-of-sync sound and picture. The common people looked up to the heroes who rushed towards the disaster one after another, with the popular Tik Tok songs from midsummer still lingering in their ears. Suddenly, the whole world pressed the pause button, catching millions of people off guard.

Time passes by like flowing water. When the whole society gradually wakes up, it will turn its attention back to life and the money that exists in the daily necessities of life.

Suddenly I discovered a US-listed company founded by a Chinese, whose stock price soared 500% in half a year - Zoom.

Just like all the misfortunes and heroic deeds caused by the disaster, this Internet company specializing in corporate office video conferencing has become one of the biggest beneficiaries of the disaster.

On the thrilling night of September 9, witnessed by countless people, Zoom's market value exceeded $1 billion, ranking among the top 1300 U.S. technology companies listed on the stock market.

The story of founder Yuan Zheng's counterattack despite being underestimated spread throughout the mainstream media, and major shareholder Li Ka-shing was mentioned in particular, saying that he had a keen eye for talent and promoted younger generations, living up to his reputation as the pride of the Chinese people.

Unfortunately, the heat has not yet dissipated, and the company's stock price reached its peak and entered a wide range of oscillation and easing platform.

After a 5% drop in one night in mid-September, Bloomberg broke the news that Grapefruit Capital’s Silicon Valley office had sold all of its Zoom holdings, selling 12% of its shares in half a year and cashing in $110 billion.

The largest buyer was also Hillhouse Capital from China, and Xie Jingxing quietly walked away with billions of profits!
The pride of Chinese people enhances our country’s prestige, and capital bows down to entrepreneurial miracles. What is the new office model in the post-epidemic era?
It's all bullshit. Zoom was supported by the Silicon Valley Chinese entrepreneurial mafia in its early days, and received hundreds of millions of dollars in support from Grapefruit Capital in the middle period, which killed several competitors. Later, Sequoia Capital of the United States invested heavily in its IPO.

This is clearly a star project that was born with a silver spoon in its mouth. The epidemic has accelerated its market performance, allowing the largest investor, Xie Jingxing, to reap a hundredfold return rate.

Players in the secondary market all fell into a state of doubt about their lives, and Zoom’s stock price fell 18% in a row.

Just when Xie Jingxing was about to be pushed into the spotlight of public opinion for the umpteenth time, Mr. Ma took the initiative to stand on the Bund in Shanghai and made cross-border comments on the domestic financial industry ecology in hundreds of words.

Therefore, experts and scholars sighed and lamented that they had long known that Ant Financial's 3 billion yuan leverage of 300 billion yuan in capital was not a good way to play; Douyin financial bloggers were enthusiastic about popularizing science to the general public, and Zhihu's in-depth analysis articles angrily denounced the malpractices and were heartbroken...

It seemed like everyone just found out about this. The relevant regulators immediately took a close look and took swift action in response to public opinion, and Ant Financial was blocked on the eve of its listing.

I heard that the second-hand housing market near the company's headquarters suddenly increased by dozens of units, and the old men and women who rented houses at the gates of surrounding resettlement communities were no longer as arrogant as before.

People then turned to digging into the list of Ant Financial shareholders, and out of curiosity, they speculated whether Mr. Ma would be eaten up by investors. After a closer look, they actually saw Xie Jingxing again. The two institutions, Xiyou and Taihe, held a combined 1.2% of the shares.

Looking back at Zoom’s stock price performance which has just recovered, and then looking at how it spent billions to acquire a stake in Ant Financial, it is truly a relief!

While the gossipers were laughing and talking about the different issues, they glanced to the side and saw that the Hong Kong stock market value of the domestic trendy blind box brand Pop Mart had risen to HK$1500 billion.

Its founder Wang Ning has the same counterattack story as Yuan Zheng. He completed Wang's unfinished wish and killed Disney. The new retail business model of young people of Generation Z will set off a wave of consumption in the entertainment industry in the post-epidemic era today!
[The venture capital account book behind the popularity of Pop Mart, Grapefruit Capital and fund LP share the super high return rate - Is it necessary for venture capital institutions to leave a share for LP to follow up? ]

This is an exclusive report by Zero2IPO Ventures. Taking the LP investment requirements such as bundled follow-up investment shares and other additional conditions as the starting point, it deeply analyzes the current macroeconomic stagnation and the fundraising difficulties of domestic PE/VC institutions.

A female LP who did not want to reveal her identity said that she invested in Grapefruit Capital right after returning to China after graduating from studying abroad, and was one of the investors who firmly believed in Xie Jingxing at the beginning of his business. Later, she reaped the rewards for this, and Xie Jingxing took the initiative to invite her to invest in Pop Mart...

The article analyzed the game between LP and GP quite well, but readers were concerned about whether Xie Jingxing had already run away with a fifty-fold return rate, or two or three billion Hong Kong dollars!
This kind of plot repeats itself over and over again. Let's quickly check what projects are hot in the market. The domestic office software "DingTalk" is also a beneficiary. The chairman Ali's nickname is "Wu Zhao" and he has a similar story to Wang Ning and Yuan Zheng.

Looking closely, there is no Xie Jingxing here, otherwise he would have a bit of the omnipresent ghost feeling.

…………

"pity."

In Shanghai, the meeting at the Panda TV headquarters was over. The old smoker quickly ran into the fire escape to light a cigarette. When he looked up, he saw his negotiating opponent who had just argued with him in the meeting room, and he took the initiative to smile and say hello.

"What a pity?" Zhou Wei replied with a friendly smile while sitting on the stairs.

The old smoker shook his head and said, "Learn to strengthen the country. If you had stayed until now, there would be no DingTalk."

"No one could have predicted this!"

Zhou Wei let out a long sigh. It has been a year since the outbreak of the epidemic, but looking back, it seems like it was just yesterday.

Although the market regards his young leader as a legend, he is not a monster who can predict the future after all. "Event-driven" has affected the direction of society and even mankind only a few times throughout history. People call it the moment when human stars shine.

"pity."

The old smoker expressed his feelings again and shared: "In fact, I have seen the Panda TV project a long time ago. When Wang Sicong came to us, I didn't feel comfortable getting involved."

"I have always been in charge of this project. If you had come in at that time, we could have known each other for several years earlier." Zhou Wei was slightly stunned and then burst into laughter.

When Panda TV was acquired by Grapefruit Capital, Wang Sicong was indeed motivated to seek strategic investment from Tencent to recruit new players.

However, at that time, the young coach and Xiao Ma Ge were in the honeymoon stage, and compared with the game live broadcast platform sector, mobile payment was obviously more important.

As time goes by, the Xie family's pan-entertainment empire has completely shifted to LeTV as the core, and Panda TV's plan for an online TV station has come to nothing. It is not too late for Tencent to acquire it in full.

Anyway, they are not short of money, so it is not a loss at all to spend 28 billion to buy a vertical traffic entrance for games.

"Take your time, I'll withdraw first."

Zhou Wei stood up, patted his butt and said goodbye. To him personally, the transaction volume of Panda TV no longer needed to be taken seriously. He came in person this time more out of sentimentality.

Since joining Xiyou, I have personally followed up on investments and made profits from exiting. So many stories have happened during this period. Counting on my fingers, six years have passed in a flash, and the young talent Xiao Zhou has turned into a middle-aged greasy finance man Lao Zhou.

“It’s everywhere.”

The old smoker watched Zhou Wei's back disappear, feeling a slight headache and taking a deep puff of cigarette.

ByteDance is moving rapidly to set up a large number of game studios, which puts pressure on Panda TV. Otherwise, Panda TV would not be able to negotiate the price of 28.

Following this line of thought, Xiyou is ByteDance's largest shareholder.

In the end, it's always a group of old friends who love and hate each other. The most important thing is that the young commander is only 30 years old this year, and he will be the banker and win over guests from all directions for at least the next years.

The old smoker stamped out his cigarette butt and hurried out of the fire escape. Now was not the time to sigh. Recently, travel in Shanghai was restricted due to vaccination checks. The situation was changing every day, and if you walked slowly, you might not be able to get out.

Just as the American pharmaceutical giant Pfizer successfully developed a vaccine, the variant 'Delta' appeared in India, and it is said that it spreads very quickly.

…………“My condolences.”

"The family members return the favor."

"Mr. Xie is attending a meeting overseas and cannot be away. Please let me know if Mr. Zhang has any last wishes!"

Zhang Zhao's portrait was surrounded by flowers. Chen Xi, dressed in black formal attire, stood in front of the mourning hall with a deep tone.

She still remembers how Huang Ziyan treated her to leek and egg pancakes in the LeTV Pictures office in Chaoyang Soho. She was so free and capable then but now she was so sad. She cried silently for several times while being supported by Zhang Yimou.

Mr. Xie traveled between Taiwan and New York with the negotiation team of the Ministry of Commerce and Industry, which was related to the survival space of countless domestic chip industries.

Chen Xi was unable to tell the details and could only brush it off with the meaningless words "attending the meeting". Although he felt extremely sympathetic towards Huang Ziyan, he did not want President Xie to be misunderstood.

"There is still a follow-up to Teacher Ma's matter."

In a corner of the mourning hall, Song Anli folded her arms across her chest and looked at everyone present nonchalantly.

Zhang Zhaozuo was 58 years old, and it is not an exaggeration to call him in his prime. As one of the flag bearers of the domestic film and television industry, he passed away due to illness. The farewell ceremony was grand. Zhang Yimou served as the head of the funeral team, Han Sanping and Wang Changtian were also present, and Miao Nan represented Xiyou Capital.

“It is also an improvement in the systematic supervision of the business sector.”

It was hard to say much as there were so many people around, so he just nodded vaguely in response.

Following Ant Financial’s suspension of its IPO plan last year, Alibaba received the largest commercial antitrust fine in China’s history, 182 billion yuan, earlier this month.

Some people say that the hammer has dropped and Teacher Ma can now breathe a sigh of relief, but it is now the turn of his colleagues to remain sleepless and worried.

Since the Didi-Kuais war that first showed signs of chaos eight years ago, the business sector has finally introduced systemic antitrust supervision. Miao Nan is not wrong to interpret this as progress.

But Song Anli vaguely heard something different, so she continued to ask, "I heard that the group is going to set up a special fund for rural revitalization?"

"We are discussing this business, but we still need to work out how to finalize it." Miao Nan was overwhelmed and tried to cope with it.

"The situation at Evergrande is not good?"

"Uh, this... Mr. Qingyou Shen Xin should be aware of the relevant situation."

"Miao, you are being disrespectful."

Song Anli smiled and joked, then changed the subject and said, "Okay, I won't embarrass you. Men are unreliable, so we women have to rely on ourselves."

"..."

"You're so sour, you must be in menopause. Hurry up and leave, someone is waiting for you at home!"

Concubine Pei came forward in time to save Miao Nan from the danger. Song Anli cursed inwardly, "The dead woman doesn't film any movies anymore and doesn't fight for favors. All she does is play mahjong all day long. Every time she loses money, she shows off that her studio's live e-commerce cash cow has made hundreds of millions this month."

Sooner or later, she would displease Zhou Fenglan and get punished. Her maidservant who came with her as a dowry only received living expenses from Taihe on a monthly basis.

"Is Xiaotian here today?" Song Anli remembered something.

Concubine Pei couldn't help curling her lips: "She is more addicted than me, she almost lives in Shajiabang."

"You are not ashamed to say that if you hadn't insisted on changing the wind yesterday, Xiaotian would have won three games?"

Song Anli was furious, as she had never won a single game of mahjong. Fortunately, she had a keen eye for investment and signed two promising investors.

Working day and night, this is a really good opportunity. If all goes well, the payoff will be soon!
In May, New Dianping received a 40 billion yuan antitrust fine. In the following months, Internet giants such as Tencent, ByteDance, and JD.com lined up to welcome strict regulation.

At the same time, Tencent announced in two installments that it would invest a total of 1000 billion yuan in response to the vision of "common prosperity" and to support areas such as primary medical care and rural revitalization.

Alibaba followed suit and put out 1000 billion yuan at one time to create a common prosperity fund, and Jingxing Investment Group invested 1000 billion yuan to jointly establish a rural revitalization industry fund with the agricultural department. The three companies shouted slogans loudly, but after counting them, Xie Jingxing turned out to be the most down-to-earth.

There is no talk of assistance or support. Investment is investment, with a focus on the agricultural sector.

After this, Shenzhen state-owned financial institutions were the first to cry out. They really wanted to hold Marshal Xie's hand and speak their true feelings, asking him how he had survived the past few years.

It's so hard, it's really too hard. The bomb of HNA hasn't been defused yet and Evergrande pops up again. These bastards claim to be so big that they can't fall down, and they act like they will die in front of you if you don't save them.

What can we do? Naturally, whoever has money will be the victim, except for Beijing and Shanghai, which are too far away to be managed. Shenzhen state-owned assets are showing their white knight style everywhere!

Evergrande's crisis has caused the real estate industry to be in a state of panic and everyone is in danger. At the critical moment, Wanda's Wang once again showed his iron fist and demonstrated a positive image to his peers that no matter how difficult it is, he will clean up his own mess.

[Cailian News, November 11: Pony.com, a listed company, plans to acquire 9% of Wanda Pictures for RMB 306 billion.]

This is a three-party transaction. Xiaoma Pentium will issue additional shares to acquire Wanda Pictures. Wanda Group will transfer the Xiaoma Pentium shares it holds after the completion of the acquisition to Jingxing Group in exchange for the latter's 7% stake in Wanda Group.

After the transaction is completed, Xie Capital will hold a total of 38% of Xiaoma Pentium's shares and 5.1% of Wanda Group's shares; Wanda Group will hold 6.77% of Xiaoma Pentium's shares; Xiaoma Pentium will completely swallow up Wanda Pictures.

After years of dreaming, Song Anli finally got her wish. At this time, Wanda Pictures' market value of hundreds of billions of yuan had evaporated by more than 60%, and its stock price had fallen to its historical lowest point.

Don't worry, there are depressions ready to be harvested.

Xie Jingxing's words to her came true, and her relentless pursuit day and night finally paid off.

Jingxing Investment Group paid a total of 400 billion yuan, and actually controlled Xiaoma Pentium and Wanda Pictures, and held 5.1% of the voting rights of Wanda Group - it is not that profitable from a purely financial investment perspective, and Xie's capital network is becoming increasingly large.

However, Lao Wang did not suffer too much loss. The three-party transaction went back and forth, bringing the valuation of Wanda Group's financial accounts and other financing channels back to the risk control safety line.

For example, bank loans and bond markets all recognize the value of its assets. After all, it is already the best performing real estate giant at present.

Everyone is happy with the situation. Xie Jingxing and Lao Wang have never had any grudges against each other. As entrepreneurs and businessmen, neither of them deserves to be friends... (End of this chapter)