Winner Takes It All, Resurrection 2009

Regarding the subsidiaries of Qingyun Group preparing to spin off and go public, upon hearing the news, all parties pledged to take action and showed off their skills and abilities. After all, the interests involved are too huge.

It is so big that no one is willing to give up any specific point of interest distribution easily. The most controversial ones are Qingyun Holdings, which holds most of Qingyun Group's shares, and Qingyun Industrial Fund.

The former is controlled by the State-owned Assets Supervision and Administration Commission, and large state-owned holding groups such as Huijin, the three major social security funds and other companies hold certain shares, as well as major sovereign investment funds and Temasek.

They are also the second and third largest non-controlling shareholders at the public level, holding 8% and 4% of the diluted shares respectively. According to the current market value, the core companies of Qingyun Group alone are worth more than one trillion yuan.

In addition, Qingyun Holdings and Investment Group also hold shares in thousands of high-quality companies in the industry. Before listing, they must undergo rigorous audit and evaluation to clearly convert cross-holdings.

Fortunately, there are very few external investors who can get involved in these two core groups, even Liu Qiangdong of JD.com and the chairmen of large groups with a market value of hundreds of billions.

It is difficult to obtain the qualifications to directly invest in these two groups. Most people indirectly invest in many core companies of Qingyun Group by holding industrial shares issued by Qingyun Industrial Fund.

This made Yao Xiangjun, chairman of the industrial fund, unable to bear the pressure instantly. He had to run to the company headquarters and hide all contact information that could directly contact him.

"Boss, I'm not being hypocritical, but I'm really worried that I'll be fired if I go out now!" Yao Xiangjun was really scared, "It turns out that one investment share is only 200 million US dollars.

According to your instructions, we injected the shares of all companies including Weifuzhi, Minsheng Group, WeChat Technology, Qingyun Semiconductor, etc. into it in proportion, although the price increased several times in the middle.

But everyone knows that even if the price of the original $4760 million per share was increased 200 times, it would still trigger a buying frenzy, not to mention that the most recent purchase at $100 million per share was a huge profit.

If nothing else, the 1.17 original shares of Micropayment (originally valued at one dollar per share, and Micropayment had tens of billions of original shares at the time) are now worth a fortune.

The data audited last month showed that Micropayment's total shares were 1300 billion. Based on the current total assets and net assets, the value of each share is at least over US$2.

The first batch of buyers enjoy rights in accordance with the stock split, rights issue and capital increase resolutions of the board of directors and previous shareholders' meetings. Their current holdings have reached approximately 10 shares, or an original capital of US$20.

Once listed, even at the lowest premium of 5-10 times that generally offered by banks and other financial institutions, the actual value will still swell to US$100-200 million.

Not to mention that the outside world generally recognizes Micropayment as a mobile Internet company. At the same time, based on its stable rate of return and future potential, it is once valued at a premium according to the high-tech Internet industry.

This part alone must start at 30-50 times, and is worth 600-1000 million US dollars, not to mention that there are a lot of original shares of other high-quality companies in it.

Strictly speaking, the price would have to expand by at least 6-10 times. With such a huge conflict of interest involved, no one would be willing to give in easily, especially when many powerful investors come together to make demands.

I hope the group will follow the traditional rules of the industry and conduct one final rights issue before listing.”

"To put it bluntly, it means that companies will give concessions to mainstream financial capital and external capital before listing, so that they can obtain a larger and more attractive overall valuation after listing."

Li Zehua was well aware of the conflicts of interest involved, but he did not have a better solution. After all, one person could not fight against the entire group, especially this time including Dongda Core Capital.

They all made similar requests for benefits, and he couldn't completely ignore this voice, because he also had to rely on the support of this group of people to gain control over many resources.

What's more, everyone is not getting it for free. If the Qingyun Group is split up and listed as a whole, his personal actual assets will also usher in a new round of expansion. It's nothing more than taking out 10 to 2 of the existing 4.

After the powerful groups that control the core capital resources have reaped the profits, they all work together to push up the stock price, leaving Li Zehua with the remaining 6-8 yuan.

Stimulated by the so-called industry listing premium, it became 5-50 times (among them there are some traditional industries, such as the aluminum group in the manufacturing industry, and the overall valuation of the OEM Chaoxu Electronics is not high).

谈不上谁吃亏，用2-4换剩下6-8膨胀成30-400，哪怕再愚蠢的人也知道如何取舍利弊。

The key is that the distribution plan for the last round of internal issuance is destined to be an unprecedented hot commodity in the history of world finance. In this round of wealth-making myth, it cannot be ignored even at the economic level.

Just a micropayment can create a market value of trillions of dollars. What does this mean?
People kept calling Yanjing for consultation, so the State-owned Assets Supervision and Administration Commission simply sent a working group to Qingyun headquarters to stay there permanently, and they would come out for a walk when they had nothing to do to show their presence.

Opposite it, West Asian energy peers, Singapore's Temasek Investment Fund, and sovereign investment funds of Southeast Asian economies are almost staying, eating, and sleeping at Qingyun's headquarters, for fear of missing out on the allocation qualification.

The traditional American and European big funds were also not idle. Even the big Korean funds that were shouting for war a second ago came to discuss cooperation with the door with a shameless face. Softbank's Sun Zhengyi just pretended that nothing had happened before.

He is determined to invest again in several core enterprises. He looks like he has a check in front of him and can write the amount he wants. He seems to be determined to achieve his goal.

Li Zehua also had a headache, "Don't mention it's you, I also want to find a quiet place to hide."

"I never thought that I would be threatened because of making too much money in my life." Yao Xiangjun sighed, "This time it's really no joke, my family members have received death threats.

Some unruly groups secretly issued rebates, which once made me think that I was playing games on the group’s leisure and entertainment platform. When did nine-digit checks become so many?
It seems that as long as I nod, they can enter the venue. That's my decision. Without the group decision-making committee's order and the boss' nod, no one can intercede for them in this situation."

"Don't think too highly of me, I can't do anything about it!" Li Zehua was even more troubled, "Take the energy industry fund other than the mixed investment fund for example.

I don't know which bastard leaked the information, saying that the industrial fund holds 5% of Aramco's original shares, as well as CNPC, Sinopec, CNOOC, Chevron America, and the Southeast Asian, Central Asian, and Chiefs Alliance.

As well as shares of mainstream energy companies and large oil fields in South America and Africa, with a total value of over one trillion US dollars, they know the inside story better than the group's audit department.

If the news hadn’t spread everywhere, I wouldn’t have known I was so rich.”

There is no need to say more about the rest. You can tell how great the economic value contained here is. It is no exaggeration to say that Li Zehua may be the only one on this planet so far.

The richest person who has ever appeared, even if he does nothing now, before humans leave the earth and enter the interstellar age, it is highly likely that no one will be richer than him.

Even the super family in the Squidward Capital Group that controls the Federal Reserve is not as rich as the Qingyun Group, a giant company that controls the world's largest market share in many major industries.

It appeared so openly in front of the whole world. Fortunately, almost all mainstream media deliberately avoided this topic, otherwise the news of Qingyun's overall listing would inevitably become the focus of global public opinion.

They were not the only ones who were disturbed by the constant visits. Lin Wenhui who worked at Yanjing, Xiao Chengdong, chairman of Weipay, and Wei Kejian, president of the Southeast Asia business group, could not stand the pressure either.

They rushed back from all over to discuss countermeasures. Even Jiang Yi, chairman of Qingyun Great Eastern Insurance in Xingcheng, came back one after another. However, he did not come to avoid the limelight, but came back with the collective interests of major Southeast Asian groups.

"This news should have only been circulated in the decision-making circle. I guess a certain large group felt that the benefits they could get were too small, so they deliberately spread the news to muddy the waters and take advantage of the opportunity to profit."

Gu Shijie, the rotating chairman and the second-in-command of the group, is worried, “Now not only are people outside the group watching closely, but the management and employees inside the group are also eagerly waiting.

Everyone is actively discussing how much benefit they can get from this round of overall listing according to the distribution plan when Qingyun group buying platform was listed three years ago.

This is the most serious problem at the moment. Regardless of whether it is divided or not, the group must quickly come up with a response strategy to avoid affecting the normal work of front-line employees."

"Mr. Gu is right. The situation is even more serious than everyone imagined." Liu Zijie, President of the Compliance and Supervision Department, spoke up immediately afterwards, his face more serious than ever before, "Currently, almost any branch or subsidiary related to it.

The vast majority of people, including those at the front-line service sales sites, are watching and engaging in heated discussions, which has seriously affected the normal business operations of the group.

What has alerted the compliance department the most is that some external capital groups have tried to extend their tentacles into the group. They have tried to directly obtain the unallocated original shares from employees at a premium. "What do you mean?" Zeng Haiyang, who has been busy with the construction of the Internet of Things with Hu Zhiyuan, was a little puzzled. "The group has not made a decision, and the specific distribution plan has not come out. How can they collect it?"

"Mr. Zeng, you don't understand this." Qin Lang, who is engaged in global takeout, same-city delivery and global restaurant chains and is rooted in the supply chain, also returned from Southeast Asia this time.

He immediately explained: "Although the group has not yet distributed the 15% option reward pool that was promised, there was an internal standard when the group buying platform went public more than three years ago.

They are divided into administrative and scientific research grades, and are assigned to management and employees at all levels based on the company's past contribution assessment. Even sanitation workers who have just joined the company can get a share of valuable original shares.

Mr. Wang Xing has the most say in this matter. According to today's latest stock price, the shares that Mr. Wang received are worth at least more than 30 billion US dollars, right?"

"Oh my god, you're so rich?" Wang Xing, the chairman of Douyin Interactive Entertainment, who started out as a broadcaster, was very resentful. "You're still pretending to be poor in front of me. Return the money you paid for my dinner last time."

Wang Xing wanted to cry but had no tears. "I don't have any money, it's all stocks and original shares of other companies. Otherwise, I can do financial projects in my boss Qingyun Investment Fund. I'll just need 200 million in my pocket.

I won’t trick you into going out to sea to party.”

"Who would believe that a tycoon with a net worth of billions of dollars still has to ask me to pay for his consumption of over a million dollars? How shameless." Wang Xing was so envious that his eyes turned red.

But it was because he came in late that he missed the first and second rounds of original stock option distribution. Fortunately, he made a lot of money from the third round and Qingyun Investment's share.

Everyone is in a similar situation right now. Salaries, bonuses and benefits range from several million to tens of millions each year, but they are all pocket money and no one ever takes this money seriously.

Because the bulk of the money is in option rewards and Qingyun Investment Fund. For example, after Wang Xing came, there were consecutive battles in raw material futures, a collective surge in global high-quality assets, and an energy futures war.

From these three rounds of super-large financial wars alone, Qingyun Group benefited far more than 100 billion US dollars. At this point, money is really just a numbers game.

Li Zehua is too lazy to keep statistics, he just arranges internal audits every quarter to check whether there is any embezzlement or profit transfer.

Normally, he rarely announces the specific size of his holdings, mainly because he is worried that too much money will make his subordinates lose the spirit to continue working hard.

At present, he is also adhering to this concept. "The 15% option bonus is still valid now, and the rules set by the group and me will not change!"

Just this one sentence made all the managers above level 9 in Qingyun Group present beam with joy, because they are the biggest beneficiaries of option rewards, such as Micropayment, which has a total of 1300 billion shares.

Calculated at 15%, that's 195 billion shares. According to Qingyun's rules, everyone has a share. There are probably nearly million people eligible to participate in the distribution, but micropayment employees are given priority.

The small Karami at level 1 of other branches can only get a few hundred shares at most, but Micropay has only more than 20 formal employees worldwide, and can at least get the largest number of shares, more than 100 billion shares.

In other words, each person can get 5 shares on average. What does this mean?
Even if it is not listed, the original shares will be worth more than 10 US dollars. Once it is listed, this number will soar dozens of times. This is still for ordinary employees, and none of the bigwigs here will have less than millions of shares.

In particular, Xiao Chengdong, as the chairman of Weifuzhi, can already clearly receive more than 13 billion shares (the minimum is 1%, Wang Xing was originally allocated 2.5%, plus he entrusted the company to continue buying after the listing, so his shareholding ratio is now around 3%).

Even if Weifuzhi is eventually split and listed according to the model of Dongda Weifuzhi, Southeast Asia Weifuzhi, and branches in Europe, America and other regions, only God knows what its final market value will be.

According to the lowest standard given by the market, if the valuation of financial enterprises is 4-8 times, the market value is also one trillion US dollars. This is a huge wealth for anyone. No wonder no one can face it with a normal mind.

“But no matter how I divide it, I personally prefer to delay gratification. Otherwise, it will be a disaster immediately according to the current trend, not to mention that such a huge fortune will befall everyone.

What kind of mental changes will it cause among front-line employees and management? At the very least, it will have a huge negative impact on the business. Once a person has a huge amount of wealth that is enough to change his current living environment and status.

It will definitely have a great negative impact on my work. I am already a millionaire, can I still work diligently and conscientiously? I don't think so. People's hearts cannot withstand any test.

I also don’t intend to test the self-control of every employee below, so the options for front-line employees must be issued in the form of paper wealth, and only when they leave will they be issued in one lump sum according to the shares they hold.”

"This?" Gu Shijie, as the rotating chairman in charge of personnel, wanted to refute when he heard the words, but he met Li Zehua's eyes and did not dare to speak easily.

Yu Li, on the other hand, had no scruples. Her honest character had never changed, and she dared to speak even in such a serious occasion, "But everyone below is eagerly looking forward to the wealth distribution.

We even have to consider a problem, that is, the sales of millions of properties of Qingyun Real Estate are mainly internal sales, involving the recovery of trillions of RMB.

Without this extra wealth, the exit plan would be difficult to implement, and the enthusiasm of frontline employees would be dampened.”

"The enthusiasm can be adjusted, but the psychological balance is broken after the wealth is acquired. How to adjust the value system when it changes?" Li Zehua insisted, "It's not like we won't give it to you at all.

Mr. Gu, you can issue a document and sign a proxy holding contract with every employee who enjoys the allocated option rewards. I remember that this was stipulated in advance that employees do not have the right to freely trade original shares.

Even if you resign or want to cash out, you must trade with the company. In addition, there is still at least half a year before the listing, and there is a 6-12 month lock-up period stipulated by the stock market.

也就是最低有12-18个月的缓冲期，这一点必须充分利用起来，按照级别5级以下24个月，5级及以上通通36个月。

During this period, except for employees who have resigned and can enjoy a certain percentage of the market price, such as cashing out once with reference to the most recent bulk transaction price, any form of cashing out is prohibited.

The most important point is that Mr. Sun must be very happy, and Mr. Lin probably has something to say as well. "

Sun Hongbin smiled and spoke before Lin Wenhui, "Of course we are happy. A house costs at least a million. If everyone buys it with cash, it seems that the group will quickly recover a large amount of funds.

However, there will be no extra benefits at the financial level, and the outside world may hate the company for the rest of its life, such as the Big Five Banks, Weipay and Minsheng Financial Holdings, because they do not earn any interest.

I will have to wear a helmet when I go out in the future, otherwise I might get beaten up.”

"Listen, this is what's considered for the company." Li Zehua nodded with satisfaction, "Letting high-quality employees find commercial bank loans to buy company-owned properties will not only allow Qingyun Real Estate to earn extra financial rebates every year.

They can also carve out a big piece of the pie to feed the entire financial system, so that they will continue to support the group. Otherwise, there will be no profit to be made, and they will only watch the company get rich. Isn't this asking for trouble?
The documents will be drafted according to this framework. The company will hold the options on behalf of employees for two to three years, and then redeem the options to employees in batches based on actual conditions. The company will no longer be responsible for any of the employees' options after that. Whenever employees want to cash out, the company will repurchase them at a discount to the market price.

In the future, if there are major achievements or technological breakthroughs, we will also mainly reward them with stocks. Only by tying the future of all outstanding talents to the company's stock price will everyone have greater motivation to continue working hard."

The chairman made the final decision, and naturally everyone had no objection.

"But what about those big groups out there that are eyeing us covetously?" Yang Zhichao participated in the entire negotiation with the big groups and understood the danger involved. "They are not sheep. Will they accept the company's proposal to continue holding shares on behalf of others?"

"Let's talk to each of them one by one. Didn't I just say that the financial system can gain too much benefit from this round? So let's defeat them one by one and separate this system from us first.

Then find a way to deal with other groups. "Li Zehua made the final decision, "Everything depends on human effort. I don't believe that my company's listing still depends on their attitude."

(End of this chapter)