The company's equity design does not follow the route of AB shares or limited partnership structure. At the same time, there is no offshore registration. The company's registration place is in Xincheng.
This is also in line with the wishes of Qunxing Capital. In this way, Xingyu Technology will definitely not go overseas to list in the United States in the future, but will log on to the A-share market. Normal listing applications are time-consuming, so it will take the route of backdoor listing.
Qin Feng is straightforward and decisive, but he is not without a sense of control.
With such an equity design, it is easy for founders to lose control of the company. After several rounds of financing, the equity in their hands will be diluted enough to lose control.
Qin Feng's solution is that in addition to Qunxing Capital, if Xingyu Technology wants to introduce other investment institutions for financing in the future, it must sign a "person acting in concert" agreement with the other party.
Stars Capital has a veto power and cannot sign it. If it signs, it means that the veto power is gone or given to Qin Feng. Naturally, it is impossible to sign such an agreement.
In addition to signing "persons acting in concert" agreements with other investors, Qin Feng will also sign "persons acting in concert" agreements with employees who have reserved option pools.
Among the shareholders of Xingyu Technology, except for the shareholder Qunxing Capital, all other shareholders must act in concert with Qin Feng. If he votes against, the others will act in concert to vote against, and the same applies if they vote in favor.
In this way, there is only one situation where Qin Feng will lose control of the company, and that is if the equity ratio of Xingxing Capital, a company called Xingyu Technology, exceeds an absolute majority of 67%, because resolutions on major matters must exceed a two-thirds majority. Agree to pass.
In other words, as long as the shareholding ratio held by Qin Feng and his concerted persons is not less than 34%, it is equivalent to a veto power, although it is impossible to achieve 100% approval of a major resolution at this time. , but it can prevent a resolution on a major matter from being passed 100%, thus ensuring that control of the company is not lost.
The worst-case scenario is a stalemate between the two parties, because Stars Capital also has the ability to veto, and it can also prevent a resolution on a major matter from being passed 100%.
To put it more down-to-earth, if you don’t want me to accomplish what I want to do, I can make it impossible for you to do what you want to do.
Isn't that just hurting each other?
In this way, it is equivalent to reaching a certain sense of balance between the founders and the capital. Even if there is a conflict, they can sit down and talk calmly. If the stalemate continues and the company goes bankrupt, it will be of no use to anyone. benefit.
This kind of "mutual deterrence" can prevent each other from easily touching and testing each other's bottom line.
The only way is win-win cooperation.
In fact, Fang Hong is very happy that Qin Feng has a sense of control. If he doesn't have a sense of control, it will be a negative point for Fang Hong, because if he can't even find such a big fatal loophole, you can still expect him to take charge. How far can this take the company?
As long as Qin Feng leaves loopholes in control, Fang Hong will not hesitate to take away control of Xingyu Technology at the right time, and then remove Qin Feng from the position of leader, because he can't even If the problem cannot be solved, it means that his ability is still lacking, and of course he needs to be replaced.
Fang Hong is a rational person. If Qin Feng is in this situation, he will definitely do this, otherwise he is not a rational person.
Fang Hong will also be very happy if he cannot seize control of Xingyu Technology, which means that the founder is fine. There is no need to remove him and replace him with someone else. Then the interests of Star Capital in Xingyu Technology will be fully protected. After all, there is a veto power as a guarantee.
Fang Hong is not afraid that the founder is strong, nor is he afraid that the founder is capable. He is afraid that the founder is not strong enough or capable, because no matter how strong and capable you are, Fang Hong can still confidently handle it, and even the worst situation can be guaranteed to belong to him. The interests of Star Capital cannot be cheated.
With the initialing of the agreement completed, Qin Feng left the Stars Capital headquarters with satisfaction.
The next thing to do is to register Xingyu Technology and invite those gray hat friends who develop operating systems together to join Xingyu Technology and work together. Everyone has their own network and circle. This is Qin Feng’s network. circle.
His gray hat friends who are willing to join Xingyu Technology must be a start-up team with excellent technology development capabilities. Fang Hong is very optimistic about this team and the future of Xingyu Technology.
…
Not long after Qin Feng left, Hua Yu's assistant came to his office. The matter of Xingyu Technology was put aside. This was just one of the projects of Star Capital.
As the assistant entered the office, Hua Yu immediately ordered: "The plan to purchase the online broadcast rights of more than 80,000 movies and TV series for 3 billion will be announced to the outside world, and it will be released today."
The assistant nodded: "Understood."
About half an hour later, Qunxing Capital issued a major announcement, officially announcing the company's "100,000 film library copyright strategic plan". In the announcement, it announced that it would spend another 3 billion yuan to purchase the exclusive online broadcast rights of more than 80,000 film and television dramas. .
Good guy!
Once this announcement was released, it not only caused a sensation in the capital market, but also became nuclear-bomb-level news in the film and television industry, causing everyone in the film and television industry to stare dumbfounded.
You must know that the total industry market size last year was only about 1 billion. The investment of 700 million by Qunxing Capital has shocked the film and television industry. Unexpectedly, the big one is still to come.
When this 3 billion copyright purchase plan came out, the jaws of people in the industry were shocked.
That night, the news of Star Capital's plan was reported by the media, especially those related to the entertainment industry, and it directly made the front page headlines.
…
Enlight Entertainment is the largest private media and entertainment group in China.
The company was founded ten years ago and currently has more than eight hours of programs. In addition to the famous "Entertainment Live", "Music Billboard", "Best Live", "Film and Television Billboard", etc., new programs include "Today's Entertainment Network", "Golden Song Moment", "I Love Watching Movies", "Reading is Better", "Entertainment Talk", "All-round Variety Show Class" and other nearly ten new columns.
Its programs are broadcast on 620 TV channels across the country, covering all regions in the country.
It invests in and releases more than ten mainstream commercial films every year, including "The Witness", "Happy Events at Home", "Ashes of Time", etc.; it invests in nearly 20 TV series, including "Heavy Rain", "Behind the House", "Plan A" etc.
It hosts and undertakes more than ten famous entertainment award ceremonies and hundreds of ground entertainment activities every year, and hosts the Huabiao Awards, Golden Rooster Awards, Hundred Flowers Awards, Directors Guild Awards, and blockbuster premieres "House of Flying Daggers" and "Assembly" , "Red Cliff" and so on.
It has an entertainment image database of 60,000 hours and also operates a video entertainment website.
However, this website is mediocre and cannot be compared with the current online video websites such as Youku, Tudou, Aiqiyi, and Kuaibo. Netizens do not even know that such a video website exists.
"Stars Capital is really unpredictable. I still haven't figured out their purpose of spending such a huge amount of money to purchase online video copyrights. Is it just to hoard copyrights?" The boss of Enlight Entertainment was talking to the No. 2 person in the office. .
This issue is not only being pondered by him, but also by other film and television companies and capital markets. Moreover, Qunxing Capital has risen so fast that it seems to the outside world that it has suddenly appeared. However, its financial strength is extremely strong, especially He made a sensation after making tens of billions of profits in overseas capital markets.
Moreover, these large group companies now also know the situation of Qunxing Capital, and they all believe that behind it is Huayang Group, which is also a powerful giant group.
Nowadays, everyone thinks that the person behind Qunxing Capital is Huayang Group. As for Fang Hong, they actually know it, but they all ignore him as a scapegoat, and everyone is in the dark.
"No matter what, one thing is certain, Star Capital is not short of money and is eager to purchase copyrights."
"That's right." Upon hearing this, the boss of Guangguang couldn't help but nod in approval. After thinking for a moment, he looked at the other party and said, "In that case, I have a temporary idea. Let's say hello to several other major companies and raise them together. Raising the price, since Stars Capital is in a hurry and has no shortage of money, why not buy more?"
The boss of Enlight smiled after saying this. There are many content producers, including thousands of film and television companies, but the only real high-quality content, that is, those well-known film and television dramas, and most of them are controlled by a few major companies. in hand.
These high-quality film and television dramas are the most valuable content. The value of other bad films is at best to fill up and enrich the film library.
Obviously, Fang Hong’s previous judgment was coming true. He felt that Stars Capital was a fat sheep that came to his door, and he wanted to take a handful of it.
…
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