"Everyone, please take a look at this information first. What I want to say is - this investment of Bubble Mary took less than five days from contact to agreement.
Some decisions are made within a very tight time window.
Today's meeting is to make a complete report on these decisions to Board of Directors."
He paused and his voice became calmer. "Let me talk about the timeline first."
Chen Xi turns to the first page, and Projection Screen is displayed simultaneously.
Zhao Chen said, "On the morning of December 26, I got the news that Bubble Mary was going to open a Board of Directors meeting that afternoon to review Ningxia Huaqiang's Private Placement plan.
The valuation is 800 million and the financing is 40 million.
In other words, if I don't respond on the same day, the project has nothing to do with me."
Wu Hongyuan pushed up his glasses and asked, "What is the source of the news?"
Zhao Chen said, "Shen Jue Director Shen. She has been exposed to the Bubble Mary project before and has the contact information of Wang An."
Everyone looked at Shen Jue. Shen Jue nodded and said calmly:
"I did look at this project in the middle of last year, but I thought the valuation was too high and didn't invest.
Chairman Zhao asked me, so I gave him Wang An's phone number."
Wu Hongyuan did not ask any further questions.
Zhao Chen continued, "I called Wang An that morning and put forward two conditions--
First, the valuation increased from 800 million to 1 billion.
Second, Henglong gives up all Voting Rights.
These two conditions made Wang An postpone Board of Directors."
Sun Zhengping frowned. "Give up Voting Rights? Chairman Zhao, this is rare in the capital market. Why do you do this?"
Zhao Chen said, "Because there is not enough time. Normal negotiations, due diligence, valuation, and terms will take at least two to three weeks."
But I only have a few hours. Wang An will not postpone Board of Directors unless he comes up with an offer that the other party cannot refuse."
He paused. "Giving up Voting Rights is the 'unrejectable offer'.
What Wang An cares about most is Control. I told him that I don't want Control, I just want to be a Financial Investment person.
This sentence is more convincing than increasing the valuation."
Sun Zhengping was silent for a moment and did not speak again.
Zhao Chen continued, "After Wang An postponed Board of Directors, I did the second thing--
Buy Mololoy's areas outside mainland China for Global Copyright."
He looked at Zhang Qingxue: "Aunt Zhang, tell me."
Zhang Qingxue turned to the second page of information and the voice was clear:
"On December 26, I flew to Hong Kong and found Mololoy's Designer Wang Xin.
Sign the contract on the same day, get a 500% premium, one-time buyout, no time limit.
The price is 30 million Hong Kong Dollar."
Meeting Room was quiet for a moment.
Thirty million Hong Kong Dollar, a premium of 200% - everyone here has heard of this number, but when it was confirmed from Zhang Qingxue, some people still took a breath.
Xu Yong asked, "Why should you buy this Copyright?"
Zhao Chen took over. "Because I need to have chips in my hand. Wang An rejected my proposal to acquire Existing Shares. I need a card to get him back to the negotiating table.
Mololoy's Overseas Copyright is that card. If Bubble Mary wants to go overseas and expand overseas, it cannot avoid this Copyright."
He paused. "But my purpose is not to get stuck on Wang An's neck.
My purpose is to make him feel that it is more valuable to cooperate with me than to fight against me."
Shen Jue added next to it, "This strategy, although radical, is effective.
Wang An finally agreed to Henglong's investment in the company, and also agreed to Zhao Chen's acquisition of Existing Shares."
Wu Hongyuan flipped through the information and asked a more in-depth question:
"I bought Mololoy's Copyright. What about Labobo? This is what's written on the third page."
Zhao Chen glanced at Chen Xi.
Chen Xi stood up and walked to Projection Screen.
"Labobo is the core IP of THE MONSTERS series created by Designer Long Xiangsheng, the image of Elf with pointed ears and jagged teeth.
We haven't signed Exclusive License with any company yet. I went to Belgium this time just to talk about this Copyright with Long Xiangsheng."
She switched to the third page, which showed Labobo's design drawings and a summary of the licensing terms.
"The agreement has been signed. Twenty-year period, global Exclusive License.
The conditions are much more favorable than Mololoy's - Long Xiangsheng has a very good impression of Henglong and thinks that we respect Designer's creative autonomy more."
Sun Zhengping asked, "How much is the discount?"
Chen Xi glanced at Zhao Chen, and Zhao Chen nodded.
"Eight million Hong Kong Dollar, twenty-year period, global exclusive. Sales share is negotiable."
Wu Hongyuan nodded and did not ask any more questions.
Zhao Chen answered, "Mololoy and Labobo are the two core Designer Toys IP.
Mololoy is already popular in mainland China, while Labobo has not been developed yet.
With these two Copyright in hand, the position of Henglong on Designer Toys Sector is stable.
Whether we cooperate with Bubble Mary or create our own brand in the future, we all have trump cards."
He looked at everyone present. "This is why I signed the contract before Board of Directors.
It's not that I don't respect Board of Directors, it's just that time doesn't allow it.
I got the news on the morning of December 26th that the other party was going to open Board of Directors that afternoon.
If I had waited for Board of Directors's approval before taking action, this project would have been gone long ago."
Meeting Room was quiet for a few seconds.
Sun Zhengping spoke, his voice softer than before:
"Chairman Zhao, I understand your considerations. Decision-making in emergency situations can be made after the fact.
But why are you so optimistic about this project? Designer Toys sounds like something for children, how big can the market be?"
Zhao Chen did not answer immediately.
He looked at Shen Jue.
Shen Jue put down the pen in his hand and took over. "I can add a few words to this."
All eyes turned to her.
Shen Jue said:
"In the middle of last year, someone in the circle recommended the Bubble Mary project to me.
At that time, their valuation was more than 700 million, with almost no profit.
I specially flew to Beijing, visited their store, and met Wang An himself."
She paused, as if recalling. "To be honest, I didn't vote at that time.
Because I can't do the math - with a valuation of more than 700 million, I think it's too expensive to invest in a company that has just turned a profit.
But I never gave up paying attention to this track."
She looked at Zhao Chen: "Chairman Zhao took action more decisively than me this time.
He understood what I wanted to see but didn't understand - Designer Toys is not a toy, it is Emotional Consumption.
What Mololoy sells is not a plastic villain, but companionship and emotional value.
The ceiling of this track is much higher than we imagined."
Wu Hongyuan asked, "Mr. Shen, what do you think of this valuation now?"
Shen Jue thought for a while, "1 billion, is it expensive? From the perspective of PE, it is ridiculously expensive.
But if Bubble Mary can be listed on the market, it is possible to achieve 10 billion or 20 billion.
Zhao Chen is not betting on its present, but on its future."
Zhao Chen added next to it:
"Moreover, I didn't just invest 50 million. I also want to acquire Existing Shares, with the goal of getting 15% to 20% of the shares.
This is not a stroke of Financial Investment, it is a strategic layout. Designer Toys On this track, I want to hold my position."
Meeting Room became quiet.
Several Independent Director looked at each other, and no one raised any questions.
Zhao Chen knows, this level has been passed.