Industry insiders had more or less heard the story of how Chen Yuanguang turned a massive public-opinion crisis into a huge opportunity and reclaimed control over a highly valuable film and television IP.
This involved too many elements and could be called a classic case of commercial warfare. These people thought highly of Chen Yuanguang—he had technical expertise, business acumen, and clear judgment in decision-making. Even without much introduction to his company, they were willing to come and listen.
"Hongyi, why are you here too?" Fang Huiyu, a partner at Bencao Capital, was somewhat surprised to see that Qiming Venture Partners had sent Chen Hongyi.
After Chen Yuanguang finished his introduction, there was a brief tea break. Once it ended, the session would continue. Only representatives from the various firms and the service staff remained, while representatives who knew one another gathered in small groups and chatted softly.
Like Fang Huiyu, Chen Hongyi was also a partner at Qiming Venture Partners, but Qiming Venture Partners managed far more capital than Bencao Capital. Bencao Capital had RMB 4 billion under management, while Qiming managed more than $9 billion, in U.S. dollars.
"It's a good project, so I came myself. Good projects are too scarce these days. Especially in recent years, it's become too difficult to list on Nasdaq. Americans are becoming less and less willing to invest in Chinese companies.
Going public on the Hong Kong Stock market feels unwillingly settling, but the valuations there are simply insulting. It's all about listing for the sake of listing, then raising a round of money and running off afterward.
The entire industry has become stagnant." Chen Hongyi appeared calm and unconcerned, but what he said was utterly disheartening.
Fang Huiyu chuckled softly. "I never expected Qiming Venture Partners to have the same worries