Huayu: Starting from joining the mainstream entertainment industry in 96

Chapter 507, Part 505: The Fever of Going Public
In January 2004, the dry, cold air in Beijing seemed to freeze sound.

Sitting in the Mercedes-Benz van heading towards the Jingxin Building, Fan Xiaopang's fingertips unconsciously traced the cold surface of his phone.

Gao Yuanyuan, Qiongzhou, children's voices, empty houses... These fragments spun in her mind, piecing together a possibility she didn't want to believe but couldn't ignore.

She needed information, confirmation, and, more importantly, a reassessment of her position within Wang Sheng's ever-expanding empire.

In the past, she might have called Wang Sheng directly, using a tone that was either coquettish or concerned to subtly probe him.

But these days are different.

Shengying Media's successful listing, with the halo of "China's first film stock," comes with an even stricter hierarchy and rules.

Wang Sheng is no longer the "boss" or "partner" who can be approached relatively casually. He is the chairman of a listed company with a market value of tens of billions, the "richest man" in the media's eyes, and a "benchmark figure" who can communicate with higher-level officials.

The invisible wall around him grew higher and thicker as the bells tolled.

Although Fan Xiaopang is the most sought-after and internationally renowned female artist under Shengying Group, and is the so-called "number one sister", she knows her own position in the company's sophisticated and increasingly bureaucratic machine - a valuable asset, an employee who needs to obey management.

The hierarchy of superiors and inferiors is amplified after a company goes public.

Should I contact Wang Sheng directly?

It's not that it's impossible, but it requires a more compelling reason and a more appropriate timing; otherwise, it would be an overstepping of boundaries and a lack of understanding of the rules.

She took a deep breath, scrolled through her contacts, and found a number labeled "Li Tingting's Assistant - Xiao Wang".

Li Tingting, one of the earliest veterans to follow Wang Sheng, is now the board secretary of Shengying Media, holding a prominent position.

The company secretary plays a crucial role in listed companies, connecting management, the board of directors, and the capital market. They are the hub of information and, more importantly, the confidant and embodiment of the company leader.

Having a dedicated team of assistants to handle daily appointments and screening communications is a perfectly normal setup.

Making an appointment through an assistant is the proper, "formal" way to follow procedures.

The call was quickly answered, and a young, capable, and polite female voice came through: "Hello, this is Secretary Li's office, I am assistant Wang Wei."

"Hello Assistant Wang, this is Fan Binbin." Fan Xiaopang tried to make his voice sound as calm and natural as possible. "Would you like to ask if Secretary Li is available now? Or, is Chairman Wang in the company today?"

"Hello, Ms. Fan!" Assistant Wang's voice immediately became more enthusiastic and respectful, clearly recognizing her identity. "Secretary Li is currently processing documents, and I need to consult with him on your behalf. Chairman Wang is in the company today, but..."

She paused briefly, seemingly checking the schedule, "Chairman Wang is currently in his office meeting with important guests; the meeting has been going on for some time now."

He was indeed busy. Fan Xiaopang understood and asked, "How much longer until it's finished? I have some things to take care of, and if it's convenient, I'd like to come over and wait."

"Well... the meeting duration is uncertain," Assistant Wang said apologetically, but quickly added, "Ms. Fan, you are certainly welcome to come. I can arrange for you to rest in the meeting room for a while, and I will notify you as soon as Chairman Wang or Secretary Li is available."

"Okay, thank you. I'll be right there." Fan Xiaopang hung up the phone.

This process, which requires an appointment through an assistant and may even involve waiting, would have been unimaginable a few years ago. But at this moment, she felt little dissatisfaction; instead, she felt a sense of acceptance, as if it were the natural order of things.

These are the rules, the rules that Sheng Ying must follow after becoming a behemoth.

She has to adapt and find her optimal solution within the rules.

……

Jingxin Building, the headquarters of Shengying Group.

The atmosphere in the private reception area outside the chairman's office was completely different from the speculation and unease on Fan Xiaopang's side.

The room was warm as springtime, filled with the delicate aroma of top-quality tea and a tranquil atmosphere befitting capital and power. Wang Sheng sat relaxed on the main sofa, listening to Xiao Ma's explanation across from him.

Compared to a few years ago, Pony Ma has shed much of his youthful naiveté, and his brows now display a greater sense of composure and confidence befitting a successful entrepreneur. However, when discussing the IPO, his eyes still reveal the prudence and thoughtfulness of someone with a technical background when it comes to the capital market.

Zeng Liqing, as Tencent's co-founder and chief operating officer, was also present, occasionally adding specific business data.

"Chairman Wang, that's roughly the situation," Little Ma summarized. "After these years of development, especially the stable and huge cash flow brought by 'Legend of Mir,' coupled with the continuous contribution of Mobile Dream Network's value-added services, as well as the value-added services such as Qiuqiu Show and the membership system that we developed based on your initial suggestions, the company's current financial situation is very healthy and it has the basic conditions for independent listing."

Wang Sheng nodded slightly.

Of course he knows.

His 30% stake in Tencent is arguably the investment with the most astonishing potential return among all his investments.

On the original timeline, Tencent struggled after the dot-com bubble burst, and its equity was significantly diluted after multiple rounds of financing.

But in this timeline, the $200 million he invested at a crucial moment in 2000 not only helped Tencent survive the winter, but also completely changed Tencent's fate because of the "National Cinema Online Ticketing System" project he brought later, and most importantly, the "Legend of Mir" game that he intercepted from South Korea and handed over to Tencent for distribution.

The popularity of "Legend" far exceeded expectations, making it a veritable money-printing machine at full power. This enabled Tencent to achieve huge profits very early on, with ample cash flow so that it no longer needed to frequently raise funds for survival, thus preserving the founding team's equity to the greatest extent possible.

This also enabled Pony Ma and others to rank among the top richest people in mainland China on the 2003 Hurun Rich List, thanks to the astonishing profits from Tencent Games. Although they could not compare with Wang Sheng, who topped the list with his shares in listed companies, they were still representative figures of the new tech elites.

"Going public is an inevitable choice."

Wang Sheng slowly began, “For Tencent, going public will not only raise the funds needed for further development, but also allow it to invest in technology research and development, new product exploration, and market expansion, such as the online e-commerce, search, and even the larger social ecosystem concept you mentioned before.”

More importantly, going public can enhance a company's brand credibility, standardize its management structure, and attract more top talent.

At the same time, it also provides early investors and teams with a channel for equity exit, realizing the capitalization of their wealth.

He glanced at Little Ma and Zeng Liqing, "Of course, for you personally, this is also a milestone recognition in your careers."

Little Ma nodded: "That's what we thought in our internal discussions as well."

Currently, the domestic capital market is increasingly accepting of technology stocks, and the Hong Kong Stock Exchange is also a direction we are considering, as its system is relatively mature and more international.

However, before officially launching the listing process, as is customary and in order to optimize our equity structure, we plan to conduct a pre-IPO financing round.

At this point, both Xiao Ma and Zeng Liqing focused their attention on Wang Sheng.

This is one of the core topics of today's talks.

Wang Sheng holds 30% of Tencent's shares, making him the largest individual shareholder after the founding team. His attitude is crucial.

"This round of financing mainly aims to introduce some strategic investors with influence in the international capital market, or well-known financial investors, which will help enhance international investors' recognition of Tencent and pave the way for listing pricing and issuance."

Zeng Liqing added, "Brother Sheng, as our most important early investor and strategic partner, what are your thoughts?"

Wang Sheng picked up his teacup, took a sip, and did not answer immediately.

He knew perfectly well that with Tencent's 30% stake in this round of financing, he could either choose to increase his holdings to maintain or even increase his stake, or he could cash out a portion of his shares and lock in some profits.

Different choices convey drastically different signals.

The office fell silent for a moment.
-
In an elegant reception room at the other end of the building, Fan Xiaopang sat alone, the coffee in front of her steaming, but she had no heart to taste it.

After receiving a report from her assistant, Li Tingting came over to greet him personally. Her attitude was as friendly as ever, but she also revealed in her conversation that Wang Sheng's meeting was indeed important and would not end anytime soon.

(End of this chapter)