December 29, Beijing, Bubble Mary Meeting Room.
This is the third Board of Directors in two days.
Old Zhou is sitting on the left of Wang An, Liu Mingyuan is on the right, Su Xiaotang, Zhou Zheng, and Chen Mo are lined up in order.
The other end of Long Table is empty - Zhao Chen is not here, Henglong only sent Zhang Qingxue to attend.
Wang An looked around, his voice a little hoarse:
"Everyone, I have called you here today to discuss one thing. The Private Placement plan needs Board of Directors approval."
He paused, glanced at Zhang Qingxue, and then continued:
"Everyone has the contents of the plan. Let me briefly describe it - a 5% private placement of new shares to Henglong Group, a post-investment valuation of 1 billion RMB, and a financing of 50 million.
Henglong waives all Voting Rights and signs an agreement with Legal Binding Force."
Zhou Zheng pushed up his glasses:
"Wang Zong, I passed the legal terms last night.
Henglong has also confirmed that the terms of giving up Voting Rights are very well written without any loopholes."
Old Zhou nodded. "That's good."
Su Xiaotang asked a question that everyone is thinking about:
"What about Existing Shares? Zhao Chen said that it wants to collect Existing Shares. How to do it?"
Zhang Qingxue spoke, not loudly, but very clearly:
"Director Su, Zhao Zong means - Henglong is willing to pay a 20% premium on the basis of a valuation of 1 billion to acquire Existing Shares Holder Shares, which is willing to transfer.
How much is there, how much is charged. The price is 1.2 Billion Valuation, which corresponds to a price per share that is 20% higher than Private Placement.
The transfer is voluntary and is not forced on anyone."
Meeting Room was quiet for a second.
Liu Mingyuan whispered, "20% premium... this price is not low."
Old Zhou didn't speak, but he tapped his fingers on the table twice.
The shares in his hand were obtained through angel rounds, and the cost was so low that they were negligible.
If you transfer part of it according to 1.2 Billion Valuation, the income will be considerable.
But he didn't take a position.
Wang An glanced at Old Zhou, and then said:
"The matter of Existing Shares is a transaction between the individual shareholder and Henglong, and the company will not interfere.
But there is one thing - anyone who transfers shares must first inform the company, and the company has the right of first refusal.
If the company does not buy it, it can be transferred to Henglong."
Zhang Qingxue nodded. "Acceptable."
Wang An took a deep breath. "Then let's vote."
Show of hands. Passed unanimously.
Chen Mo wrote down the content of the resolution in his notebook, and Zhou Zheng began to draft a formal framework agreement.
Su Xiaotang leaned back in the chair with a complicated expression - five days ago, she didn't know who Henglong was.
Three days ago, Zhao Chen called Wang An for the first time.
One day ago, she heard the words "create another Bubble Mary" in Meeting Room, and her back felt cold.
Now, Bubble Mary and Henglong are officially bound.
After the agreement was signed, Zhang Qingxue did not leave immediately.
She walked up to Wang An and stretched out her hand. "Wang Zong, happy cooperation."
Wang An held her hand and smiled bitterly:
"Lawyer Zhang, to be honest, I haven't fully recovered yet."
Zhang Qingxue smiled, "Wang Zong, Zhao Zong said, he will be a shareholder who will make you worry-free."
Wang An nodded. "I hope so."
After Zhang Qingxue left, only Wang An and Old Zhou were left in Meeting Room.
Old Zhou lit a cigarette--Meeting Room is actually not allowed to smoke, but no one cares about it today.
"Wang An," Old Zhou exhaled a puff of smoke, "Have you really thought about it? Let Zhao Chen come in. What happens next is not up to you."
Wang An leaned on the back of the chair. "Old Zhou, do you think I have a choice?"
Old Zhou was silent for a while, and then said, "The one billion he said... do you think it is true or false?"
Wang An thought for a while, "Truth or falsehood is not important. What is important is that if he dares to say this, we must take it seriously."
Old Zhou nodded and said no more.
In the afternoon of the same day, Shan City and Henglong Group offices.
Zhao Chen is sitting at the desk with three documents in front of him.
The first one is Bubble Mary Private Placement framework agreement,
The second is the announcement draft of Henglong's participation in Private Placement.
The third copy is the Existing Shares East contact list just sent by Zhang Qingxue.
Chen Xi stood nearby, holding a cup of coffee in his hand. "Zhao Zong, when will the announcement be sent out?"
Zhao Chen glanced at the time. "Send it now. Let Liu Mingyu arrange it."
"Okay." Chen Xi turned to leave, but Zhao Chen called her to stop.
"Wait a minute. Zhang Qingxue, ask her to contact Existing Shares at Bubble Mary as soon as possible.
The premium is 20%, and you can charge as much as you want. Don't lower the price, and don't bargain.
No matter how much they quote, as long as it is within a reasonable range, just sign it."
Chen Xi hesitated for a moment. "Zhao Zong, are you too hasty? What if Wang An thinks we are grabbing chips..."
Zhao Chen shook his head. "The agreement is very clear - the company has the right of first refusal.
Wang An If he wants to stop it, he can buy it with his own money. If he doesn't buy it, we can buy it. This is his own rule."
He paused. "Besides, what I want is not chips, but sincerity. The 20% premium shows that I really want to hold it for a long time."
Those Existing Shares Dongs are happy when they get money. Wang An Don't worry when they see that I don't bargain. Kill two birds with one stone."
Chen Xi nodded and went out.
Zhao Chen leaned back on the chair, picked up the draft of the announcement and read it again.
"Henglong Group plans to participate in the private placement of Bubble Mary, subscribe for 5% of new shares, and have a post-investment valuation of 1 billion RMB.
This investment is a financial investment, Henglong Group gives up all the shares held by Voting Rights."
After this sentence is posted, 99% of people in the market will ask the same question - what does Bubble Mary do?
Zhao Chen smiled. It doesn't matter.
They will know when Mololoy becomes popular all over the country.
At five o'clock in the afternoon, Henglong Group made an announcement.
Liu Mingyu is sent according to the process - first Hong Kong Stock Exchange, and then synchronized to Financial Media.
Ten minutes after the announcement was sent out, his cell phone started ringing.
The first call was from a researcher at a securities firm, "Mr. Liu, what kind of company is Bubble Mary? Why haven't I heard of it?"
Liu Mingyu explained patiently, "A Designer Toys company mainly produces Blind Boxes and IP operations."
There was silence on the other end of the phone for three seconds. "Blind Boxes? Is it the kind of toy that you only know what's inside when you take it apart?"
"Yes."
"... Why did Henglong vote for this?"
Liu Mingyu smiled, "Zhao Zong is optimistic about Consumer Sector."
There was silence on the other end of the phone for another three seconds, and then hung up.
The second call was from a financial reporter with similar questions.
The third, fourth, fifth... Liu Mingyu answered more than a dozen calls, all answering the same questions.
He hung up the last call, glanced at the phone screen, and sighed.
The reaction from investors was more direct than he expected.
Among East Money and Snowball's Stock Bar, Henglong's post instantly hit the screen:
"Henglong invested in a company that sells toys? Is Zhao Chen crazy?"
"A valuation of 1 billion? This company's profit this year is expected to be just over 1 million, and its PE is almost a thousand times higher. Isn't this giving away money?"
"What is Blind Boxes? IQ tax."
"Zhao Chen is trying to push Henglong's money into the fire pit."
But there are also a few different voices:
"What do you know? What Zhao Chen does, all it needs is support."
"I am a shareholder of Henglong Holdings, and what I spend is basically my own money. Can I manage it?"
"How much has Henglong risen from the bottom? When has Zhao Chen ever been wrong?"
But there were too few such voices, and they were quickly drowned in the wave of doubts.
Liu Mingyu I browsed Stock Bar for a while, and the more I looked at it, the more I got a headache.
In the end, I could only choose to ignore it.
Not only Liu Mingyu cannot understand it, but also Henglong Board of Directors and few shareholders can understand it.