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when speaking, Chu Yuanxi finds that Angie has been hiding behind and doesn't speak much, which makes her very reserved. But this sentence makes Angie's face very strange, and even chuyuanxi interprets the meaning of praise and admiration.

He laughed in his heart. He thought it would be hard for Angie today. White gloves are not good. Pig Bajie has to suffer from the splinter gas on both sides when he looks in the mirror, but he seems to be in a good mood?

Angel is in a good mood, but the others are in a terrible mood!

Dobby and Du Cang sat next to Aunt Cynthia, and dobby almost burst out, just wanted to roar - temnon, thirteen dollars and sixty cents, shameless! Shameless man! This is related party transaction. Do you understand related party transaction? Benefit transfer! Ah -

of course, Chu Yuanxi understood. The question is, do you bite me about related party transactions of non listed enterprises? Don't you know that small shareholders don't have a say in such matters? Can't say rain girl has no melon! But you're not big enough.

Most importantly, Ba people have no board of Directors

Both sides thought of this almost at the same time, and suddenly, one side was elated, the other side was dejected. Chuyuan Xixin said money into my pocket still want to go out? What are you thinking?

Du Cang sat at the beginning of aunt Cynthia's work. At this time, he coughed and said, "is it necessary to invest so much money in a well-off society? Isn't Xiaokang in a normal financing channel? I remember that the goal of a round of well-off financing is only a few hundred million, so even if we get to a round of well-off financing of several billion, judging from the current development of well-off, there should be no difficulty, right

"When there is a day, there is no day. Don't think about it when there is no time. How complicated and tortuous the road to start a business is, don't you all senior investors understand? When you need money, how embarrassing it is to find that there is no money? " Chu Yuan Xi said helplessly, "and the Ba people have to keep four or five hundred million in reserve. The Ba people spend a lot of money, but the expenditure and income look less together. When it comes to variety shows, movies and other things, you'll need money to turn around, and you won't have much money if you come and go like this. "

Dobby said, is that what we're talking about? It's a good thing for Ba people to have a high turnover in business. What we're talking about is not in business! The problem is that Chu Yuan Xi has to play a hooligan. He can't communicate normally!

But this face helpless expression at that time let Du Cang confused: "if so, why should we pay dividends during the Spring Festival?"

Chuyuan Xixin said you didn't count B in your heart? Why do you not know the Spring Festival bonus? Come on, let me put it bluntly: "because I needed money at that time, I needed to pay a sum of money to establish a well-off Angel round." He did not say the second half of the sentence, but the gesture of a show of hands expressed, or question type: otherwise I will dividend?

It's just plain beyond reproach. Cynthia's eyes darkened, and she said, "is this because we didn't get on the well-off car? This time, it's good. I can't think of it. Ba people's investment is equivalent to indirect investment of mordu syndicate. This is a special thief ship. I can't get off at all!

She kneaded her head and said, "President Chu, if you don't pay dividends, then the company is looking for listing. If you go public, we don't care whether you share the dividend or not. "

This speech, including angel, several people are seriously looking at Chu Yuan Xi, this is actually the crux.

Why does Mordor syndicate take the initiative to force the palace? Because understand Chu Yuan Xi's intention after panic. It's normal to say that the performance of Ba Ren is exchanged for other companies, and the investors must be happy with the entrepreneurial team. Mordor syndicate is afraid of being hanged on the stolen ship. It's not listed, it can't exit, it doesn't pay dividends, and it can't get back its capital. Their psychological state is worse than that of Ba people who hold options. Employees' options come from hard work, and their equity is returned by investment. The sunk cost is different.

The key is that Chu Yuanxi and the founding team are firmly in control of the company. They have a lot of legitimate reasons to send money to themselves. They don't have to pay dividends, so they can not pay dividends at all.

Some listed companies lose hundreds of millions of dollars a year, and the president gives him hundreds of millions of dollars of bonus, which is jokingly called by the shareholders. If the executives don't take the bonus, the company doesn't need St. there are so many scandals in the capital market. Relatively speaking, chuyuanxi's food looks much better this Spring Festival. Is it more than 100 million bonus standard for executives of companies with actual annual profits of several billion? It's not illegal to look five times worse. But I don't know what chuyuanxi will do next year

All in all, investors are suffering.

Relatively calm is angel, although he recently did not communicate with chuyuanxi, but also guess chuyuanxi did not want to go public. Companies that want to go public are not like this at all, and they can't keep so much money in their accounts. It's too patient!

"Oh, going public is always in the plan." Chuyuan Xi said with a smile in his heart that he can't do whatever he wants when he goes public. The Securities Regulatory Commission is going to take charge of it. The Securities Regulatory Commission and the investors' management are not the same management, so they have been in the "plan" all the time.

So he said: "however, no one has just come to the a round of financing to be listed. Besides, the company has only been established for more than a year, and it does not meet the requirements of the CSRC. There is at least one and a half years left."

"Let's borrow a shell!" Du Cang almost screamed.A large amount of money on the account is not meaningless for capital operation. For example, cash is needed to invite acquisition for privatization. However, there has never been a precedent of privatization for thousands of A-shares, which is one of the reasons that has been criticized, because privatization itself is one of the normal modes of capital operation.

When it comes to backdoor, with sufficient cash, we will be in a very flexible position. We can use equity, or put in and put out part of equity plus part of cash. There are many modes of capital operation that can be operated.

"Yes, back door." Aunt Cynthia nodded again and again. For a time, she was still imagining whether Chuyuan Xi was holding someone's shell. This was the right posture of capital operation.

After all, a shares are still at a low level, the index is not low, and individual stocks are low. Many stocks have been operating in the bottom area since 5178, with clean shell resources of less than 4 billion everywhere.

It's normal for her to think so, otherwise it can't explain why a start-up company doesn't spend a lot of cash when it has such a good momentum. It was not until Xiaokang appeared that the mystery was broken.

Chuyuan Xixin said that you really dare to think, take my hard-earned money to buy a shell? Isn't that the same as feeding billions of wolves?

"Mr. Du, you know, the chairman has talked about the registration system many times in person, and great changes in the capital market are imminent. At this time, the backdoor has become a big injustice? There's a way to operate capital. I decided to wait and see anyway. "

"Do you think there's hope in the queue?" Du Cang can't help sneering, "don't you know what the state's attitude towards film and game companies is? You've got it all

Chu Yuanxi knows that what he said is a very key sentence in the SFC's "answers to some questions on refinancing business" that "listed companies are not allowed to cross-border invest in films or games in principle.". After this document came out, domestic video game companies howled.

But why? This is about cross-border investment. Besides, Ba people are cultural and creative companies, movies and games are branches, and fan economy is the backbone.

So chuyuanxi didn't give advice at all. Instead, he chuckled, "Why are the relevant departments cautious about video games? It's because of the authenticity of the performance and the rampant capital operation. Unlike Ba people, there is no trace of capital operation, at least not at present. This is a huge bonus in the development and Examination Commission. Secondly, the performance is very real and the foundation is very solid. There are all public data to check. What can't be listed? "

In fact, Chu Yuan Xi also has plans for BA's IPO, not without any explanation. When it has completed its historical mission and fully boosted the well-off society, why can't it be listed? It's just not now.

But obviously, Moby and he are not in the same channel, dobby can't help it for a long time, and finally can't help it: "you are too confident! Do you dare to sign a bet on listing

"Are you in such a hurry to go public to quit?" Chuyuan asked cheerfully, "if so, don't bother. Can the company buy back your shares? At an estimated value of 30 billion, your part has now increased to Er, it's worth about 530 million after the transfer? "

Modu syndicate has invested 120 million yuan, and the rate of return in one year is more than 4.4 times. It has also received a dividend, so it would be very happy to change others? But Dobby's nose was sharp, and his heart said, NIMA, you've even bought back?

Cynthia looked gloomy. "Is the value of 30 billion too low?"

Chuyuan said calmly: "if you buy mine, it's equivalent to buying control, then it can't be so cheap. If I buy yours, I will buy the value of financial investment. I have to leave room for the buyer to appreciate, right

It's a very obscure expression. It's rare that all of you can understand it. Do you think you should watch the K-line trading in a shares? What's it like to sell it at 6124?

A pique, dobby issued a particularly sharp voice: "President Chu, you treat investors like this, are you not afraid to scare the investors in the well-off future?"

Yo? Chuyuan Xixin said, what's the matter with you? Threatening to expose my bad deeds? For example, today of Ba people is a well-off tomorrow? Send you a ha ha good, can I expose myself?

"Take it easy, everyone." "I'll arrange an interview at ChinaJoy tomorrow, and I'll explain a lot of problems at that time, so I won't scare the flowers and plants," he said steadily

"Explanation? What does it mean? "

"Well, please look forward to it. It's not long anyway." Chu Yuan Xi's attitude is quite sincere, and sure enough, the next day did not let the syndicate leaders wait more, the manuscript of the interview was fresh.

Dobby took it over and screamed: "this shameless one! How dare he write like that

In this article, the author of TMT media published on the famous entrepreneurial news polymer in China. At the beginning of the article, the interviewer and the interviewee discussed the relationship between the entrepreneur and the investor, and the editor's note also focused on the relationship between the two companies under Chu Yuanxi's name, which was not hidden at all.

Therefore, in a prominent position, how does Chuyuan Xifeng treat investors well: "what is to treat investors well? I think it's just that we don't have to worry about it. We can forget where we can or can't worry about it. "Reporter: "what do you mean?"

Chu Yuanxi: "Oh, when Ba people pay dividends at the beginning of the year, in fact, according to the agreement, they can first complete a round of gambling and equity ratio adjustment, and then pay dividends, so that the founding team can share more and give investors less. But there's no need. There's still a long way to go. I'll think about the source after drinking water. Since I took the investment from others at the beginning, there's no need to haggle over every detail at this time, so I'll divide it according to the original proportion. "

Du Cang is also looking, the text on the mobile phone makes him mixed. He's not as angry as dobby. It's true that he's angry, but it's impossible that he's not angry at all. Anyway, after the equity adjustment, the part that can eat more and occupy more is gone. Who doesn't care about hundreds of millions

However, Angie was open to it anyway. Since chuyuanxi showed his love clearly, he said to Du Cang, "what can I do? That's how you signed the bet. Because they earn a lot, what can they complain about? If the profit doesn't touch the gambling, or even lose money, are you happy? "

The reason why truth is annoying is that it can't be refuted. If it can't be refuted, it's heartfelt. Dobby said angrily, "but he plays a hooligan! He's such a rascal, I'll expose him! "

"Ha ha, is that why Chu Yuanxi wants to do this interview?" Angel had a chat with Chu Yuanxi on wechat last night, so she was more relieved. "What did you expose him to? He didn't wash the money into his pocket. "

"Expose him, expose him and damage the interests of the Ba people group! Is it a great honor for him to invest the company's money in affiliated companies? "

"No, whether the investment behavior is beneficial to the company depends on whether the company can gain value after investment and whether it can successfully exit in the future." In fact, angel has known for a long time that another obscure point that everyone has not said is that mordu syndicate is always not optimistic about Xiaokang, but Chuyuan Ximi is optimistic about it, which is their fundamental difference. If Mordor syndicate is also optimistic about it, there's nothing wrong with it.

This is also the main content of his communication with chuyuanxi last night. "Chuyuanxi said that money into the well-off society was also used for business, but it didn't wash into his own pocket. What he originally said is that it's called "not to avoid enemies, not to avoid relatives". There are so many founder members and employees of Ba Ren group holding options, and he owns the most shares, so there is no need for related party transactions to make money. "

In fact, angel felt that the level of Lu Jiazui's elders was a problem, because there was a key and obvious problem in Xiaokang. They turned a blind eye to it, instead, they focused on some trivial things.

The question he asked Chu Yuanxi on wechat was: why didn't Ba people put in the money when the well-off value was low?

Then, an unexpected answer was said by chuyuanxi: because I explained to the co founders of the Ba people that it's very simple. After calculation, the attraction of Xiaokang to investors can be considered as a quadratic curve, y = ax ^ 2 + BX + C. Do you remember? It's a function with a minimum, opening up, abscissa is the estimate, you can also understand it as time, ordinate is the attraction. The attraction is high at first, low in the middle, and then high again. So it's hard to get money when you need it most. Ba people's money is most efficient at this time.

Mathematics almost back to the teacher angel heart said, thanks to my special Mo is also engaged in the game of origin, otherwise really want to show!

He went on to ask: Well, the problem is that you are still thinking about a well-off life. The money of Ba people is still not maximized. What's good for the Ba people is that they should invest in the well-off society in the early stage and help to solve some problems in the middle stage, right?

Chuyuanxi: it's obviously not right. Do you know if the money left after the initial investment can solve the problem? If you can't, you'll get down on your knees, and the initial money will be wasted? Wait and see to avoid risks. Elder brother, you treat a well-off society as a must, and then calculate that you start to count the prey before you enter the forest. You trust me so much!

On the other side of the network, Chu Yuan Xi wiped sweat, did not expect angel's question so professional, but do you think you can ask me? Ha ha ha, uncle Sheng has already asked these questions!

But when Uncle Sheng asked, he didn't think of such a logical and rational answer, so the answer at that time was mild, saying, what do you think of my earning power? Anyway, there is a return on investment. If Ba people make more money, I will use the money in Ba people. If Xiaokang makes more money, I will use the money in Xiaokang. Ba people get a greater return on investment. There is no problem.

This answer can barely make uncle Sheng nod, but it's not enough to deal with reporters. The outline of this interview was passed by chuyuanxi and luyugou, and then finalized with TMT media to ensure that it is the wind chuyuanxi wants to blow out. However, although the reporter asked questions according to the outline, he didn't say that he was a puppet and wrote soft articles, so others could ask the bottom of the matter, spread their thinking, even plot theory or brainstorming.

In particular, after the outflow of the first half of the Ba group's semi annual report, the brainstorming became even more severe. Because this semi annual report is an unlisted enterprise, it has no obligation to publish it to the public, but it can also flow out. In particular, even if there is no outflow, people can measure it. The revenue of game companies, especially high-income games like gone with the wind, is relatively easy to calculate. The data provided by app Annie is accurate, not to mention the sudden assistance of Knight code treasure.Therefore, the income of the Ba people immediately aroused extensive and profound concern, and the reporters had a big wave of problems. This semi annual report has directly pushed the gambling agreement signed by Ba Ren and investors a year ago to the top of the storm. The reason why it has aroused widespread concern is that the proportion of gambling shares is too large and the requirements for completion are too exaggerated. It is rare in China and the world. As a result, it took Ba Ren group one year to complete

Chuyuan is not afraid to answer questions, but Zhao Jie away, save him after hearing stimulation.