Coquettish Rebirth

Collins' book is coming out.Collins sent a sample booklet to Jia Hongjian, but did not send it to Jia Hongjian himself, which made Jia Hongjian a lot easier.To some extent, this Collins is really Jia Hongjian's "nemesis".Jia Hung-chien was content to be able not to see this "nemesis".This rush is a bit like seeing a mental patient. The mental patient yells "I don't want anything but your life" every now and then. It's really helpless!

Not having to see Collins made Jia Hongjian feel good, and what made him feel even better was Xiao Zhang's call. "Teacher, I have met the people from Mengniu. They are very enthusiastic, even a little too enthusiastic. Later, I asked the local government to find out a little bit. Looking at the identity of our Huaxia Hi-Tech, the leaders of the local government did not know it. The situation revealed something. It is said that Mengniu really wanted additional investment at this time, so they have already contacted foreign investment banks such as Morgan Stanley. Mengniu opened the terms of gambling. Morgan Stanley and other companies invest 6000 million US dollars and get 30% of the stock first. If Mengniu cannot guarantee the compound growth rate of more than 3% within 50 years, then Mengniu will pay them 30% of the stock. If it can be achieved, they will compensate Mengniu with 30% of the stock or funds at the corresponding price at that time... So, we are very happy when we contact them, because there is another choice. Teacher, should we also make some additional terms? of?"

wipe!Why are Morgan Stanley and the others so harsh?Jia Hongjian understands the term compound growth rate. This term means to use a formula to quantify the small amount of money returned on investment into a data that has weakened the effect of a period of time.It is better to use this kind of data to compare performance investments.To make a simple analogy, suppose Jia Hongjian invested 1 yuan in Mengniu, and then the 1 yuan in the first year becomes 95, the second year becomes [-], and the third year It became nineteen thousand and five.Then if you want to calculate the return on investment in these three years, the average person calculates that if you invest [-] yuan, you will get a return of [-] yuan, so the return is [-] yuan in net profit, which is a [-]% return on investment.

However, the compound growth rate is not so calculated.It is necessary to divide 1.95 by the cost of 1.95.Get a return on investment ratio of 1.95, and then take the ratio of 1.2493 to take the root of time.Because it took three years to invest, it is the cubic root of 1.That is to say, a value of 0.2493 is obtained.Then subtract 24.93 from such a value.Get [-], so the compound growth rate of such an investment is that the return on investment after three years is [-]%.

Regardless of whether such a compound growth rate is scientific or not, on the surface it seems that it just reduces the return on investment that ordinary people understand.But this is different in the gambling agreement!Just like the above example, even after three years, investors have earned back 95% of their investment, but the compound growth rate is only 24.93%!So what does this mean?It means that if Morgan Stanley and the others invest 10000 yuan in Mengniu, and then require them to grow at a compound rate of 50%, then Mengniu’s growth in three years will be quite terrifying. After calculation, Mengniu is required to change its investment into It takes 3.375 yuan to make the compound growth rate reach 50%!So what Morgan Stanley and the others mean is that it is okay to invest 6000 million US dollars, but they must ensure that their investment of 6000 million US dollars will be multiplied by 3.375 times in three years!Otherwise, they will grab the controlling stake in Mengniu!

Is this price scary?Of course it's scary!Therefore, it is understandable that Mengniu was very enthusiastic immediately after Xiao Zhang asked the other party if he wanted to invest.People may want to see how Huaxia Hi-Tech offers a price?What if Huaxia Hi-Tech's offer does not have such a gambling component?Even if there is a bet, the requirements are not as strict as Morgan Stanley?At that time, won't people have a good choice?But Xiao Zhang is also really smart. After seeing the unexpected enthusiasm of others, he immediately tried to find out the reason!Since I haven't directly offered the conditions, I will report to Jia Hongjian first and see if Jia Hongjian wants to open new terms!

After thinking about it for a while, Jia Hongjian felt that even Morgan Stanley made such an exaggerated request. If the conditions offered by Huaxia Hi-Tech were not stricter, it seemed that the return was too little? 6000 million U.S. dollars, multiplied by the exchange rate of 8, is about 5 million yuan, why not give 10 billion yuan directly, and then ask for 60% of the equity?Eh, wait!Why is Mengniu so expensive?Wasn't it only tens of millions of sales last year?Why suddenly one billion yuan is only about 60% of the shares? "Xiao Zhang, Morgan Stanley paid 6000 million US dollars to get 30% of the shares? Mengniu's performance is so good?" He asked hastily.

"Well, although Mengniu's performance last year was not good, but this year's development is really fast. The performance in the first quarter alone is higher than that of the whole year of last year! It is almost twice that of the whole year of last year! So it is estimated that this year's sales can reach five or six. That's as much as [-] million! So the shares have become more expensive all of a sudden..." Xiao Zhang explained.

wipe!All of a sudden, I found out that the investment was too late!It would be great if you invested a year earlier!But after all, things are already like this, if it drags on, it will obviously get worse and worse! "In this way, invest them a billion, ask for 60% of the shares, control but do not ask for management rights, and the board of directors can give them a majority of seats. Tell them that we only want to make money and have no interest in managing the company... By the way, add additional Clause!" Jia Hongjian suddenly remembered something, and hurriedly ordered, "The additional clause is a moral clause. In simple terms, it requires Mengniu to show a positive image in front of the public, and no inappropriate actions are allowed to damage the brand. Value, such as false publicity, such as fake raw materials or the addition of chemical raw materials that lead to large-scale consumer distrust of the brand. If this is the case, Mengniu must pay us double the equivalent value of the stock price at that time, and they will give up the majority of the board of directors. Will take over the company and start managing!"

That's right!This kind of morality clause in contracts is often seen in European and American contracts, especially in endorsement contracts for public figures.For example, if you sign an endorsement contract with an actor, and if the actor takes drugs or ruins his own image during the contract period, won't the manufacturer also suffer losses?So there is a moral clause, the manufacturer can terminate the contract early and even claim compensation from the actor!Jia Hung-chien remembered that in the 08 Capital Games, the Flying Fish Phelps was so beautiful, and in 09 a drug scandal broke out!Later, several manufacturers who sponsored him and asked him to speak for him did not end the contract with him, but it is said that there are moral clauses in the contract, and the manufacturers can unilaterally end the endorsement according to the contract!

In 2011, when Lagarde, the new managing director of the IMF International Monetary Fund, came to power, the contract was announced directly.In the contract, because of the sexual assault of the former president Kahn, the image of IMF was greatly damaged.Therefore, imf directly added a moral clause to the new president's contract - as the president of the organization, he should abide by the highest moral standards, handle things fairly, be honest, act fairly, avoid improper behavior, and avoid A conflict of interest should result in resignation from other public and private sector positions.If the new president is finally reported for any violation of these terms, especially the "misconduct" clause, then the imf can immediately copy the new president, and at the same time, there is no need to pay any compensation. Claim against the new president!

Jia Hongjian just thought of things like melamine milk in later generations!Mengniu didn't seem to have done similar things, but Jia Hongjian couldn't fight for his character here. What if Mengniu had lived his entire life doing it?It's their own business that Mengniu wants to smash the brand, but they can't drag Huaxia Hi-Tech into the water!Jia Hongjian has worked hard for almost ten years to establish such a deeply rooted moral image of Huaxia Hi-Tech, so positive and brilliant, but in the end, he invested in Mengniu, and Mengniu did something wrong to ruin the image of Huaxia Hi-Tech?This is obviously unacceptable!Jia Hongjian finds it unacceptable even if it's false propaganda!Because he started by cracking down on counterfeiting, and false propaganda is the easiest mistake to be caught by counterfeiters!So if Mengniu thinks that everyone in the industry is making false propaganda, they are also here to make false propaganda, and then they are caught by someone, and then exaggerated by the South Monday report, will Huaxia Hi-Tech still have a face?

So for Jia Hongjian, he doesn't have to bet on any kind of equity stakes. What he cares most about is not to mess up his image of Huaxia Hi-Tech!Otherwise, Jia Hongjian would be quite annoyed!And the consequences are serious!

"Moral terms?" Xiao Zhang froze for a moment, as if she didn't know how to do it.Jia Hongjian didn't explain or give instructions, but said, "Well, I'll ask the lawyers in the company to draw up the terms for you later, and let the lawyers talk with you later, so you don't have to worry too much about the legal terms." thing!"

"Oh, okay!" Xiao Zhang replied quickly, looking a little relaxed, but also a little lost. "Don't think too much, it's not that I look down on you. Legal matters are supposed to be handled by professionals. I'm not familiar with the law myself." Jia Hongjian slightly suppressed his emotions and persuaded Xiao Zhang. He is very sensitive. The feeling came out that Xiao Zhang seemed to have low self-esteem again. "Ah? Oh, okay..." Xiao Zhang agreed, as if he was really relaxed.It seems that it should be arranged to treat Xiao Zhang's heart disease as soon as possible, Jia Hongjian thought so. (To be continued..)