As the world's largest listed underwriter, Goldman Sachs has not yet reached its peak. After all, the Internet bubble has not fully blown up, and the vast majority of Chinese entities occupying the world's top 500 have not yet formed. On the contrary, the bond turmoil in the United States in the past two years and The financial crisis that broke out in neighboring Mexico has greatly affected this century-old store, and it seems to have entered a crisis-riddled dormant period.
Therefore, although today's Goldman Sachs has an excellent reputation and can be called the mainstay of anti-hostile takeovers, it is not particularly outstanding in terms of strength. It is equally famous as Morgan Stanley, Lehman Brothers, Merrill Lynch and Bear Stearns, plus On commercial banks such as JP. Morgan, Citibank, Zurich Credit, etc., Wall Street has too many choices in the field of listing only.
In this case, it would be too stupid to go straight to the door and be slaughtered. Therefore, Feiyan did not directly approach Goldman Sachs, but contacted several investment banks one by one, and the companies that were thrown out were also Zero Hour and Eagle's Nest. Although the relationship between these two companies and Feiyan is not a secret, what Wall Street is really concerned about is Feiyan, which defeated Sony and Toshiba head-on in the new generation of optical disc media.
Therefore, while giving the listing plan, these investment banks also tried their best to lure Feiyan to take a step. Many of them threw bait on the commission amount or stock price. Even Citibank, which has been providing financial services to Chen Yuanming, is also eager to try it. .
But after turning around in many investment banks, the final door is still open to Goldman Sachs partners.
"Mr. Chen, it's been a long time." Harold walked into Feiyan headquarters with a smile on his face, and shook hands with Chen Yuanming, who was approaching him.
"I didn't expect Mr. Harold to come out in person. We are also very honored. Please sit here." With the same commercial smile, Chen Yuanming asked the other party to take a seat at the conference table.
This Harold is really no stranger. When Chen Yuanming had a close relationship with hedge funds before, he attended many internal Wall Street gatherings and had some contacts with some Goldman Sachs partners. Unexpectedly, they actually sent a senior partner who had played golf with them back then. In Goldman Sachs, there are not many employees with the title of senior partner, and now there are only 1,200 employees. Those who can make them appear must be quite valuable business partners. Therefore, it is not difficult to see that Goldman Sachs attaches great importance to this single business.
Maintaining a flawless smile on his face, Harold sat gracefully at the conference table. This man should have been over fifty years old, but his energy and appearance remained at their peak, just like any competent Wall Street manager. All the same, gentleman, courteous, and shrewd and cunning like a Jew.
"I heard the news of Yahoo's listing recently, and Mr. Chen's golden stone is now worthy of its name." Harold said with a smile, nodding his thanks for the coffee handed over by the female secretary.
The opening remarks did not go straight to the topic, but chose a compliment, which seemed to have nothing to do with this meeting.
Chen Yuanming didn't care, he just smiled, "The golden stone is lucky, and it's a good time."
Many people may feel the same way, but no one on the financial hunting ground will take chances. For true financiers, luck is always secondary, and being able to see the traps under the table before dangers and opportunities, and grasp the pulse of the market, are the stunts they rely on for survival. All those that are not strong enough have long been swallowed up by the market torrent.
Not caring about such self-effacing, Harold still had a gentlemanly calm in his tone, "But it seems a little early to sell all the stocks now. Although SoftBank is strong, it may not last long. Spend a lot of effort on the website construction in Japan."
"As far as Dianjinshi is concerned, the income now is very considerable." Chen Yuanming's smile has not changed, as if he did not understand the other party's words.
However, Harold didn't stop, and directly stated what the two of them clearly understood in their hearts, "It seems that Mr. Chen's capital chain is indeed in short supply."
This is not a very difficult question to guess. Just like Netscape's crazy rally now, Yahoo is also strongly supported by Wall Street. Holding its stock for one more day will increase the value of its profits a little bit. Exiting the market as soon as it goes public is not in line with the principle of profit maximization. . If Chen Yuanming hadn't invested in Netscape before, no one would have made such guesses, but Yuanyang's move to get involved in Netscape still caught some people's attention.
Then you will hold Netscape for a long time, but let go of Yahoo! With reference to Chen Yuanming's layout in Hong Kong in China last year, it is not difficult to see the real answer to the question.
This is very straightforward, and by the standards of investment bankers, it is a bit too straightforward. But Chen Yuanming was not nervous or annoyed, but nodded quite calmly, "Yeah, that's why Zero Time and Eagle Nest are officially listed."
This was not what Harold wanted to hear. Putting away the smile on the corner of his mouth, the middle-aged gentleman suggested very seriously, "Mr. Chen should be very clear about which company we are really looking forward to. Although the results have not been announced, in the past year, News Corp. The stocks of all the film and television companies headed by them have grown by leaps and bounds, and the birth of DVD has given a boost to Hollywood, which has been stagnant for a long time. As the owner of the DVD format, Feiyan is the best choice that many investors are looking forward to. Not the now unknown Zero Hour Company, or the Eagle's Nest Alliance under News Corp."
This is also the most troublesome problem for Goldman Sachs right now. Whether it is Zero Hour or Eagle's Nest, it does not yet have the potential for explosive profits, but the true home of Feiyan may not necessarily be North America. As a joint venture, Feiyan's branch in China is larger and more profitable. If there is no accident, Feiyan in North America will probably move its factories to China more thoroughly like most multinational groups.
In this case, the opinions of the Chinese side, especially the opinions of the Chinese investor, are probably the most important. But there are not many companies in the world that have successfully started the process of international listing of Chinese companies, and most Chinese companies are still rolling in their immature domestic stock markets, defrauding profits from the messy financial market. This short-sighted internal consumption has made the entire Wall Street sigh and sigh. After all, many think tanks have predicted that China will be the most worthy economic entity in the next century. Compared with the decaying old Europe and Japan, which has been cut down, what could be more exciting than a virgin land
Chen Yuanming pondered for a moment, as if hesitating how to express it.
"Feiyan's current development is still quite stable." In the end, the young man simply said the export, "Last year, China Feiyan sold more than 4 million VCD players, as well as a large number of chips and downstream OEM products. The profit alone is about 300 million US dollars. In the second half of the year, Feiyan in North America also had sales of more than 200 million. Although the profit is not too high, it is expected that the sales will make great progress next year. At this moment, I think Feiyan Yan listing does not seem to be in our interest.”
If these figures are not false, Feiyan's profitability has exceeded Goldman Sachs' expectations, and it is very likely that it will pass the 1 billion barrier in a short period of time and enter the threshold of medium-sized enterprises. Therefore, these words not only failed to dispel Harold's interest, but made him even more itchy.
After thinking for a while, he nodded slightly, "We can see that Feiyan wants to get rid of Wall Street's firm attitude, just like the establishment of Zero Hour Company, most North American companies will choose direct listing and financing to expand their R&D departments, while It's not like Feiyan's superfluous, private financing with News Corporation by establishing a new company. In this, Mr. Chen shows the way of thinking of a financier, not an entrepreneur."
After the conversation changed, Harold smiled and said, "Of course, I understand this kind of thinking very well, after all, your income on Yuanyang and the Golden Stone has amazed the world, and even our mutual friend Mr. Robertson has your eyes on you. I am full of praise. How to obtain money may not be the most critical issue for you. However, the operation mode of industry is different from that of financial enterprises. I believe that with your understanding of Silicon Valley, you can also understand the driving force of listing for enterprise development. , No one can resist the temptation brought by stock options. Now that the Dow Jones has a bullish trend, at this point in time, listing is the only way to obtain capital as soon as possible. To measure it with financial thinking, it is too conservative... "
With his fingers tapped on the armrest twice, Chen Yuanming still shook his head, "Actually, what I am most concerned about is not Wall Street, but... Washington."
Hearing this, Harold was obviously taken aback for a moment, and immediately reflected, "You mean the storm along the coast of China?"
Chen Yuanming did not deny it.
Harold smiled. "Wall Street has its own will, and this will not be controlled by a mere president. China is our focus, not our enemy."
The words couldn't be more arrogant, but Chen Yuanming fully understood that what Harold said was not a lie. In fact, Goldman Sachs is the investment bank that has sent the most talent and advisors to the White House. Goldman Sachs, known as the "Whampoa Military Academy" in the financial world in later generations, has a closer relationship with the U.S. government than any hedge fund or mutual fund.
But contrary to hedge funds, what they seek is not all the interests of the US government. Wall Street is like a sword hanging over the head of the United States, which can not only cut down its enemies, but also threaten its own security at all times. Wall Street has its own will, and this will is money that never sleeps. Anything that hinders its access to money, including laws, people, and even countries, can be trampled under their feet.
So Wall Street is crazy and dangerous to any reasonable person. But this danger of ignoring national interests is, for Chen Yuanming, a temporary protective umbrella. If he can align his interests with the interests of Wall Street to a certain extent, then in the next few years, the safety factor of North American Feiyan will be improved.
As for why Goldman Sachs was chosen... This point is actually very simple. Goldman Sachs' interest in China is unquestionable. In the next few years, they will enter the Chinese market with a more urgent attitude, investing, underwriting and listing, and even becoming a financial advisor to the government. . The Chinese and American flags hung on the Goldman Sachs building in later generations, and the G2 model they talked about with relish, are not lies.
After another long silence, Chen Yuanming finally sat up straight and replied earnestly, "I trust Goldman Sachs' reputation in the industry very much, so I chose you as a partner among many investment banks. But in the current situation, even if the capital No matter how tense the chain is, I can't make the decision to let Feiyan go public immediately, you know, this involves a very complicated situation after all... So, now I only want to talk about Zero Hour and Eagle's Nest."
After a pause, a faint smile appeared on his face, "But the possibility still exists. If the face does get better, I also hope to add more chips to Feiyan. At the same time, you also know that in addition to Feiyan, there are many companies under my management, and the two venture capital institutions in China and the United States have a lot of demand for listing. If possible, I still hope to be able to work with companies like Goldman Sachs. of companies to collaborate more…”
The meaning of the words is very clear, and Harold has heard a little about Chen Yuanming's development trajectory in China. This young man's ambition is extraordinary and his ability is beyond the ordinary level. As long as he puts his investment vision into his career - even if it is only 50% or even 30% - he will be an excellent partner who can cooperate for a long time.
Nodding happily, Harold smiled, "Then let's focus on the present first, and then slowly discuss the future development."
(End of this chapter)
The author has something to say: In fact, to put it bluntly, it is still trying to find a skin with a tiger, but things always have to be viewed dialectically...
Damn America is still hard to write, I hope it's not too ugly QAQ