This year's Mid-Autumn Festival holiday lasts for three days, from September 15th to 17th. Work as usual on Sunday. For the two teams of Phoenix Fund and LeTV who were in "negotiations", they did not have a holiday during the Mid-Autumn Festival but continued to work overtime. By the 21st, the two parties finally negotiated the details of the acquisition and formed a contract text.
At around four o'clock in the afternoon, in the conference room of LeTV Building, Cao Danqing and LeTV CEO Liu Hong each signed their names on contracts and stamped them with the official seals of their respective companies.
There was a burst of applause in the conference room.
This comes from the heart. From the 12th to now, everyone feels exhausted and it should be over soon.
Liu Hong handed over the contract to his assistant and said with relief: "Mr. Cao, congratulations on our agreement. Tonight, LeTV is preparing a celebration reception at the Wanda Hotel, and I would like to invite all friends from the Phoenix Fund to attend."
The two sides sat across the oval conference table. Opposite, Cao Danqing is dressed in an exquisite light blue career, with a slender and tall figure. With an elegant and charming young woman's style, she nodded and said: "Thank you, Mr. Cao, for the arrangement. We will attend on time."
Liu Hong said with a smile: "The press conference for the media is scheduled for tomorrow afternoon. I will ask the assistant to inform Mr. Cao."
Cao Danqing said: "No problem."
Entourages from both sides stood up one after another, shook hands and said goodbye.
This time Phoenix Fund invested 6 billion to acquire LeTV Pictures and Huaer Pictures. The valuation of LeTV Pictures is 4.5 billion yuan. Huaer Film and Television is valued at 1.5 billion yuan. Phoenix Fund will also invest US$100 million in LeTV's super car project, and will invest a total of US$400 million in two installments.
In addition, Phoenix Fund spent US$396 million to acquire shares of Coolpad mobile phones.
It was announced that Phoenix Fund spent a total of 12.643 billion yuan on LeTV’s asset package. LeTV holds 200 press conferences a year to maintain its popularity. This acquisition is undoubtedly extremely eye-catching.
At about 6 o'clock that night, the news spread online half-hidden. The Moments of employees of LeTV’s publicity department, as well as the few words leaked to the media on WeChat. Public opinion was stirred up.
LeTV has been surrounded by negative news about lack of money during this period. If the financing is successful, this will be big news.
Sure enough, at a press conference held on Thursday afternoon, the exact figures were given, and the domestic financial media was abuzz. The news spread quickly throughout the country.
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That evening, on the CCTV Financial Channel, CCTV 2's flagship program "Economic Half Hour" at 8pm, the host broadcast the news.
"LeTV, which has been involved in various negative rumors about its capital chain, sold its assets to Phoenix Fund for 12.643 billion yuan today. Please read the report sent back by the reporter below."
The screen on the TV switched to the press conference of LeTV and Phoenix Fund in the afternoon.
A reporter from CCTV Financial Channel asked, "My question is for Phoenix Fund. Hello, President Cao. What considerations did Phoenix Fund have to spend a huge amount of money to acquire LeTV's asset package?"
Anyone who has paid attention to financial news during this period will have an impression of Cao Danqing's delicate and pretty face. It's just that she didn't look so glamorous when she was on camera today, but she had a very plain style, and she also wore shabby black-rimmed glasses, which immediately made her look over thirty years old.
Cao Danqing said calmly: "We are optimistic about the development of China's film and television industry and electric vehicles. LeTV Pictures and Huaer Film and Television are both very good film and television production companies. And the LeTV super car project is favored by domestic capital. We are also very I’m interested in investing in such a good project.”
The screen turned again and returned to the live broadcast room. The host said: "Now let's contact our commentator, the famous economist Mr. Ma Daoruan. Hello, commentator."
"Hello, host."
"LeTV and Phoenix Fund jointly held a press conference this afternoon to announce a major asset sale. What do you think of this news?"
Ma Daoran said: "I also saw relevant information on the Internet this afternoon. To be honest, I was surprised. Why do you say that? First, LeTV is a star Internet company in China, and I have done some research on them. Their business logic It is the opposite of ecologicalization.
So, what is the underlying logic behind selling content production companies like LeTV Pictures and Huaer Pictures?
Second, Phoenix Fund is a capital that has recently become famous in China. The US$8.2 billion acquisition of Uber (China) in August was astonishing. Now it has spent 12.6 billion to acquire LeTV’s asset package. It can be described as ambitious.
I have done some research and found out that Phoenix Fund is registered in Beijing. But its shareholders are: Jiuge Capital, Dayou Bank, and Zhaoshi Group. These are Hong Kong-funded and foreign-funded enterprises respectively. Therefore, it is essentially a foreign-funded enterprise. This is a place worth noting.
In addition, I think the electric vehicle field, which has always been optimistic by capital, is about to welcome a very powerful player. Other car manufacturers should be vigilant, the wolf is coming. "
The host said: "Okay, commentator. Let's look at the next news."
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When the CCTV Financial Channel made the report, the three major domestic portals: Sina, Sohu, and NetEase had already posted relevant web news.
The comments below are actually not very popular. This is normal. Ordinary netizens don’t pay much attention to financial news.
But the spread of this information is terrifying. How many Internet users were there in the country in 2016?
Baidu Tieba, a hot post in a certain stock trading bar was highly liked.
"The title needs to be long - LeTV's stock price is about to rise sharply. If it doesn't rise to 170 yuan, I will broadcast live. Please supervise."
Tonight, among the web news displayed by various mobile phone browsers, basically every time a group of news is displayed, there is one news related to the acquisition. These are all articles written by self-media.
The well-known domestic financial portal "Phoenix Finance" also published a commentary article in the evening: On the layout of Phoenix Fund!
"Phoenix Fund has foreign capital behind it and is aggressively expanding its territory in China. It has successively set foot in real estate, travel, film and television, electric vehicles, and mobile phones. They are trying to create a closed loop for users."
At about nine o'clock, Lu Yu had just returned home when she received a call from her assistant on Phoenix TV, telling her the news, "Lu Yu, I just found out that the actual controller of Phoenix Fund is named Jing Gao. Currently at Live in the capital.”
"Contact Phoenix Fund for me. I want to interview Xiajing Gao." Lu Yu walked into the room with her cell phone and kicked off her shoes.
"OK."
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Compared with the analysis of online financial professionals and the heated discussions in the media, Zhang Zhao, CEO of LeTV Pictures, is a little overwhelmed.
LeTV holds about 51% of the shares of LeTV Pictures, and the remaining shares are dispersed among various celebrity shareholders. LeTV suddenly announced that it would sell its shares in LeTV Pictures. Who wouldn't ask about this?
Zhang Zhao answered the phone calls from various people in the office, "Yes, yes. LeTV Pictures' price is 4.5 billion yuan."
"Mr. Zhang, this price given by Mr. Jia is too kind. The shares in our hands have shrunk significantly. Wasn't it still valued at 9.8 billion yuan in May? This is offending."
Zhang Zhaodao: "Hey, what our Mr. Jia means is that LeTV Pictures sells 5 billion and Huaer Pictures sells 1 billion. You know Mr. Jia! He doesn't value money. However, the people from Phoenix Fund insist on only giving 4.5 billion. I estimate. It’s also to better recover the equity in your hands.”
"oh?"
After hanging up the phone, Zhang Zhao's cell phone rang again. He will be very busy today. LeTV Pictures has many shareholders!
He started a new round of "explanations", or rumors. In short, he needs to seize control of LeTV Pictures.
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China's electric vehicle industry began to rise last year. A huge influx of capital. In addition to traditional car companies manufacturing electric vehicles, such as BYD, BAIC, etc. There are also a number of Internet car-making companies emerging. The main players include "LeTV", "Nio", "Ideal", "Xpeng" and so on.
According to what is called in the media, "a new force in car manufacturing." The benchmark is the American "Tesla".
In 2016, LeTV was still at its peak. Of course it's starting to go downhill slightly. In mid-September, it was revealed that it was in arrears with mobile phone suppliers. But there is no doubt that LeTV Super Car is the darling of capital.
In the early morning of September 20, the day before yesterday, LeTV founder Steve Jobs announced at the LeTV Video 919 Party that the first round of financing for LeTV Super Car has been completed. The amount is US$1.08 billion.
Participating capitals include well-known institutions such as State Grid's Yingda Capital, Shenzhen Venture Capital, Legend Holdings, Minsheng Trust, New Hualien and Hongzhao Fund.
Not to mention the Phoenix Fund’s investment of US$500 million in the A+ round announced today. It's really "the boy who cried wolf".
The WeChat group of "Car Making Circle" was very lively tonight.
"Mr. Li, what do you think?"
"I'm not Yuanfang."
"Mr. Wang has asked whether you are satisfied. Everyone, hurry up and read it. I will reproduce the essence of the passage. It is as follows: Phoenix Fund has no experience in operating the automobile industry, so they only make strategic investments. Why are you crying wolf? You are scared. Myself. LeTV has a big problem.”
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In the capital, the night is getting darker.
The office of a real estate sales company was still brightly lit at ten o'clock at night. Liu Sumei sat in the booth, looking at the emails on the computer attentively. From time to time, ask team members about their progress in the work group.
She was rushing out a contract document. It will be used in negotiations with Party A tomorrow.
At this time, Shen Ran came in from outside with a bunch of late night snacks, milk tea, and coffee, "Come here and get them all." After saying that, he took a cup of coffee and put it in Liu Sumei's hand, and whispered: "Master, Mr. Jing is famous. .”
Liu Sumei's figure is convex and concave, with graceful curves. The palm-sized face is delicate and flawless, and the big eyes are as black as gems. She gently pushed down her seat, turned around to face Shen Ran, drank coffee, and asked curiously: "What's wrong?"
Shen Ran opened the news on his mobile phone and showed it to Liu Sumei, "The companies under his name have all been raided. It is estimated that his net worth is no less than 12 billion US dollars."
Liu Sumei glanced at her phone and was slightly surprised, "Ah, this is really unexpected!" She didn't expect Jing Gao to be so rich.
Shen Ran said: "Master, the Jade Tofu takeout he delivered to you a few days ago is really delicious. I just called you on the phone and the hotel over there said they don't offer takeout."
Liu Sumei couldn't help but smile and said: "Shen Ran, you've been a little distracted since you bought a house in the capital. How can you compare with him? He is a real rich man. We are all ordinary people. Go and work!"
How could she not see his little thoughts when he sent away the apprentice who was shyly trying to please her? Shen Ran is not an honest person, and she doesn't want to fall in love with him. Moreover, this is the apprentice she brought out single-handedly. Thinking about that scene, it is simply too inconsistent.
Liu Sumei smiled and shook her head. After thinking for a while, she took her mobile phone and sent a message to Jing Gao.
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At the same time, when various circles in China seemed to be in a pot of boiling water, Didi’s CEO Liu Qing had just stepped off the plane that landed in the capital. He was hurriedly dragging his suitcase. She had just returned from talking about financing in Silicon Valley.
Since mid-August, Uber (China) has launched a comprehensive subsidy war, burning US$100 million in funds every day. She is always confident in front of her colleagues in the company, but the pressure on her shoulders is very high.
Just as he was thinking about it, Liu Qing's cell phone rang. It was Cheng Wei, "Liu Qing, have you arrived in the capital? The company's car is waiting at the airport. You go home and rest first. We'll talk about work tomorrow."
Liu Qing handed the suitcase in his hand to his assistant, took his mobile phone and walked to the exit. He sighed and said, "Mr. Cheng, how can we wait until tomorrow? I just learned about the domestic news. Phoenix Fund acquires LeTV's assets , became famous in one fell swoop! I guess our investors are all very excited.”
Phoenix Fund's entry into other industries and fields has nothing to do with her. She didn't bother to pay attention. But if Phoenix Fund makes another 10 billion acquisition a month later, it will have a huge impact on people's hearts!
On that day, Ren Heyi suggested that Jinggao acquire LeTV’s asset package, and the results are now showing. As a shopping mall elite, Liu Qing is already aware of this problem. Those financial analyzes on the Internet simply don’t get to the point.
This acquisition brought immeasurable "fame" to Phoenix Fund!
Cheng Wei also sighed and said: "There will always be a way. The funds in Didi's account can still last for half a month."
Liu Qing said, "I'll go back to the company and have a meeting with you." After saying that, he hung up the phone. After thinking about it, I called my friend Guo Lingyu in Goldman Sachs Asia, "Lily, I want to entrust you to talk to Jing Gao from Phoenix Fund."
Guo Lingyu’s English name is Lily.
At around ten o'clock in the evening, Guo Lingyu was drinking tea leisurely outside, looking at the night view of Victoria Harbor, and said with a smile: "Jean, I have contacted Jing Gao and agreed to meet and talk in Shanghai the day after tomorrow. I am waiting for your call. , explain to me."
Liu Qing breathed a sigh of relief, Guo Lingyu was still very reliable in doing things. She had greeted Guo Lingyu before. The current Jing Gao is not something anyone can see if they want to. So far, no media has been able to obtain his photo.
If we contact Phoenix Fund now, it will be too late if we wait for ten days and a half. She wanted to know what Jing Gao was thinking? Can we coexist peacefully?
"Okay, I will send you an email later. Lily, I'm waiting for your news."
