Wu Zhou sat in the main seat. On weekdays, he was actually a little lazy, but on this day, his back was straight.
This can also be regarded as respect for these investors.
The person is due, and after a few simple polite words, we get down to business.
Most of these people have seen some financial report data that are not confidential.
Wu Zhou didn't waste any time in reporting, he just asked and answered questions.
"Mr. Wu, I look at the information provided by Huashi. With this financing, you think Aiying Group is worth at least 60 billion. But you have to know that the market value of Little Mouse, currently the number one online casual snack stock, after listing It's only 10 billion, so what makes you think Qiao Fei's family is worth six little mice?" You said directly.
Others looked at Wu Zhou with smiles in their eyes, trying to get the upper hand and lower the price.
Wu Zhou also glanced at the investor and recalled this person's information. Liu Qing, one of the leaders of Morgan Stanley Venture Capital in China, was born in 1985 and has a doctorate degree from a top Ivy League school. He is absolutely young and promising.
The look he looked at Wu Zhou was rigorous and cautious.
Wu Zhou just smiled after hearing his words.
"Then use your little mouse as a comparison."
"Little Mouse reported a net profit of 5% in the first three quarters of this year, while our Qiaofei family's net profit was 31%, which is 5.16 times. In addition, our Aiying assets increased by 1.39 billion, while Little Mouse only increased by 128 million, which is 1.086 times Times."
"Little Mouse's performance revenue in the first three quarters increased by 39% year-on-year. Our Qiaofei family's performance this year increased by 1,651%, which is 42 times."
"So, do you think our Aiying Group is comparable to Little Mouse?"
Wu Zhou asked with a smile.
However, even if Liu Qingfeng was attacked, his expression remained unchanged and his emotions could not be clearly seen.
"When the performance is small, high growth can be achieved, but this year Qiao Fei's family will have a revenue of nearly 10 billion. Will there continue to be such high growth in the future?" Liu Qingfeng looked directly at Wu Zhou and continued to ask.
The data Wu Zhou mentioned are all very good, but some data are too good to be replicable.
Although the scene was not as harmonious as imagined, Wu Zhou knew the company's data clearly.
If it weren't for some of the resources behind these capitals, Wu Zhou would have spent too much time and energy trying to achieve similar results, and Wu Zhou would really be unwilling to give up the benefits.
But even so, it is impossible to sell it cheaply, which is why Wu Zhou and Huashi said it would start at least 60 billion.
If you don’t have the strength and mental preparation, don’t even come.
However, at this moment, Wu Zhou still glanced at the person in charge of Hua Industrial.
The look in his eyes meant, "How did this kind of person pass their initial screening?"
The person in charge of Huashi smiled slightly awkwardly. I made some mistakes at work, but it was fine when we chatted before.
"It is true that we will not be able to grow by another 16 times in 2020, but if we can really grow by 16 times again, what do you think the valuation of Aiying should be?"
"Our current revenue is about 7.26 billion, and the current daily revenue is about 50 million, which is still growing. It is estimated that in the last 40 days of this year, it will increase by another 2.3 billion. It will not be a big problem, and the total will be 9.56 billion. . The estimated profit increase is 1.12 billion. The full-year net profit is more than 3.2 billion. If the net increase in assets of 1.39 billion is included, the full-year net profit is more than 4.5 billion."
"So, if we maintain a 16-fold growth next year, our net profit in a single year will exceed 70 billion. So what do you think our company's valuation should be? If calculated according to the estimation logic of the little mouse." Wu Zhou smiled Looking at him, he asked.
Not trying to lower the price. The current price-to-earnings ratio of Little Mouse is around 30 times.
According to this calculation, if Wu Zhou really increases by 16 times next year, the company's valuation will be more than 2 trillion, and Moutai will be surpassed.
Therefore, Liu Qingfeng, who said that he would continue to maintain high growth, was completely out of his mind.
Liu Qing was speechless for a moment and didn't know how to answer.
also
I didn't expect Wu Zhou to be so direct.
"Okay, okay, everyone is talking about cooperation. Harmony makes money, harmony makes money, let's have a good chat. This year Aiying Group has experienced explosive growth. Although it is based on the previous low base, we must admit that, Aiying Group, under the leadership of Mr. Wu, has the best revenue and profit among all snacks at the moment." Zhou Lei suddenly interrupted with a smile. As the person in charge of International Capital, Huaxia, Liu Qingfeng is just one of them, and he is the top person in charge.
But his attitude is much better than Liu Qingfeng.
Moreover, he himself has invested in online brands in China, and he knows better than others present the horror of Qiao Fei's current revenue growth and profits.
But Liu Qing would be like this, and Zhou Lei probably understood the reason. Capital giants like Morgan Stanley Ventures were the targets of most of the invested companies, so they were used to being strong.
Moreover, in addition to relying on Morgan Stanley, Liu Qing also has domestic family capital.
It’s been a smooth journey, a proud man of heaven, and of course he has his own arrogance.
"It's because everyone has this understanding that they come together from all over the world."
"Haha, Mr. Zhou is right."
Everyone else smiled and agreed. After thinking about the numbers Wu Zhou just mentioned, the value of the company can be roughly figured out. However, everyone also has concerns. Is it sustainable? How long can it last?
However, there is a rough description of this in the Qiao Fei family's financial report.
The repurchase rate of Qiao Feijia’s regular customers is much higher than that of its peers.
This means that consumers recognize that as long as Wu Zhou doesn’t mess around, there is still sustainability.
"We have studied Mr. Wu's Aiying Company before, and it is indeed far superior to its peers. The researchers in our company also admire it very much."
"Mr. Wu, if you are willing to sell some more, our company is willing to estimate the valuation at 80 billion." Someone couldn't help it this time and hurriedly spoke.
"Our company is willing to invest an estimated 90 billion yuan"
Some people are arrogant and spoiled, but there are also people who value peace and grab stocks to make money.
At this moment, the words of everyone present gradually became noisy.
And Liu Qing's face gradually began to look a little ugly. After all, these people were equivalent to slapping him in the face in disguise.
He spoke because he wanted to lower Wu Zhou's price, which meant that Wu Zhou's company was not worth 60 billion.
And these people actually increased their prices.
It's just a food company. The threshold for this industry is so low, so it's not worth such a high price.
Liu Qing crossed his arms on his chest and looked at Wu Zhou with a slightly contemptuous smile.
But Wu Zhou didn't look at him at all.
This time Wu Zhou will release up to 20% of his shares. After all, so many people came.
However, releasing these shares at most does not mean that these shares must be released.
After all, no contract has been signed. As the absolute controlling shareholder, Wu Zhou has the final say.
"Mr. Wu, Aiying's current daily revenue can reach about 50 million, so Mr. Wu is confident that it can reach 20 billion next year?" Zhou Lei said again at this time, not letting others continue to argue, but laughing. asked Wu Zhou.
The scene fell silent.
According to the current net profit of Wuzhou Company of 47%, if it can achieve revenue of 20 billion next year, the net profit will be as high as 9.4 billion. Even based on a price-earnings estimate of 20 times, it will still be 188 billion.
Of course, even 20 times is unlikely. After all, it is not listed, and 15 times is almost enough. So if what Wu Zhou said is true, the normal valuation of Aiying Group should be around 140 billion.
From the current profit perspective, in the medium and long term, anything less than 140 billion is still reasonable.
Another valuation of 80 billion is considered cheap.
Zhou Lei understood, and of course, others present also understood.
At this moment, everyone understands that the lowest price of 60 billion is definitely unobtainable.
"In 2020, our company's goal is not 20 billion." Wu Zhou suddenly
He shook his head and said.
As soon as these words came out, everyone present looked at Wu Zhou with a little surprise.
Zhou Lei felt that Wu Zhou was aware of the trap in his words.
Liu Qing, on the other hand, looked at Wu Zhou with a slight sneer, thinking that Wu Zhou lacked confidence.
"Next year, our initial target for Aiying Company is 30 billion. We will reduce gross profit and sprint sales. 20 billion is our normal revenue estimate, and 30 billion is our first small sprint target."
"30 billion is the first sprint goal. Does Mr. Wu have a second or even a third goal?" Zhou Lei looked at Wu Zhou with a kind smile, but with stern eyes.
"The second one is 50 billion. As for the third one, that is my own goal and has nothing to do with Aiying Company." Wu Zhouqi didn't care.
The explosive growth of the food industry next year is inevitable, and during this period he has been making horizontal and vertical acquisitions, expanding the industrial chain, improving production efficiency, and increasing production capacity. 30 billion is not a big problem.
& billion, it is not impossible. As for the higher amount, that is the matter of Wu Zhou's other company.
As for better financing next year and getting a better price, that's it. Will these old foxes recognize the high revenue in the special market?
But even so, Wu Zhou's big words shocked everyone present.
According to Wu Zhou, 30 billion is a sure bet, and 50 billion seems not impossible.
"Mr. Wu, how much of next year's marketing expenses are estimated to account for sales, and how much profit will be left in the end?" Someone asked with a smile. Some people focused on high growth, while others focused on real profits.
The purpose of investing is to make money. Every detail Wu Zhou casually talks about on the spot will be paid attention to, analyzed, and questioned by them.
Growth and profit affect each other and will affect their valuation of Wu Zhou Company.
The valuation model of snacks is generally a fixed model, which mainly considers growth, financial characteristics, and income discount.
Therefore, we must understand the efforts behind Wu Zhou's growth.
Wu Zhou sat in the main seat and was the focus of everyone present.
After finishing speaking, the details of his expression will be carefully considered by these people who have experienced the business for a long time.
At this time, some people present had their impressions of Wu Zhou changing day by day.
When we first met, I felt that Wu Zhou was calm and unbelievable for his age. During the conversation, Wu Zhou showed his sharpness. Now, he feels a little arrogant.
But what if that was the founder’s confidence.
Free to read..com
