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"Bang~"

The champagne plug was ejected in the air, and the bottle made a crisp sound.

The foam of wine sprayed into the sky.

The unique champagne color shines in the clouds with a rich and rich brilliance.

"Congratulations to Mr. Guan in advance, all the headlines will be your name tomorrow." Chen Neil held the champagne glass and smiled relaxedly.

Guan Qiuhe took a sip of wine: "Thank you."

The spokespersons of several investment institutions sent congratulations: "Congratulations to Mr. Guan."

“…”

Everyone's face exuded a sincere smile of joy.

This luxurious private banquet hall, not simple, witnessed a feast of capital.

It can be said...

They are all winners.

In just one year, Dangkang's valuation went from insignificant to RMB 102.4 billion, and everyone present made a fortune.

Guan Qiuhe, who held Fang Nian's shares on behalf of the company and was the founder, lost a total of 33% of the shares.

The profits are shared by five investment institutions.

Capital that does not work for production has gained equity through the power of money and has a certain right to speak.

Everyone was very happy.

After a brief celebration, Chen Neil waved his hand: "Please enjoy your face and gather together tonight."

“…”

Of course everyone will not refuse.

Later, Fang Nian and Guan Qiuhe moved to the Dangkang Game Headquarters on the 39th floor and entered Dangkang again.

Fang Nian looked around and walked into Guan Qiuhe's chairman's office together. Fang Nian casually said: "It seems that there are not many changes."

"What changes can happen? Mr. Fang hasn't been here for only a year." Guan Qiuhe said in a sincere tone.

Fang Nian was not worried, after all, it was the facts.

“…”

Without much chat, Fang Nian quickly talked about the main thing: "I don't mean to fool Chen Neil and others on the listing in Hong Kong. Let's get started."

"At present, our shares plus one piece have just reached 67% of the cordon, which is still the 5% of the employee equity pool. Fortunately... it's ready long ago."

Guan Qiuhe smiled: "To be honest, I really think that you have a long-term consideration and a lot of preparations. No wonder your attitude was so clear yesterday. You have thought about it long ago."

Fang Nian smiled bitterly and shook her head: "It's not counting. If Miao Wei didn't mention such a sharp topic, I would definitely be a honest and honest student. Anything above would do if he wanted Nuwa's laboratory."

Finally, he said helplessly: "There is no way, this is how licking dogs are."

Guan Qiuhe sighed in a low voice and did not say more about this.

“…”

Long before Frontier Angel Investment Dangkang, Fang Nian asked Guan Qiuhe to register Dangkang Group in Cayman, and adopted the internationally common VIE (variable interest entity) architecture, namely the protocol control architecture.

Then, according to custom, two common shares of A and B were issued, with different voting rights of the company;

Enable the holders of Class A shares to have voting rights of ten votes per share in respect of any resolution submitted by the general meeting of the company;

Enable the holders of Class B shares to have one vote on any resolution submitted by the general meeting of shareholders of the Company;

Resolutions regarding reservations only have one vote per share.

At the same time, during the financing process, different rounds of preferred shares are issued according to the round.

For example, preferred stocks in round A, preferred stocks in round B, preferred stocks in round C.

What I just completed today is the C round of financing, issuing C round of preferred shares, and the delivery will be completed before April 30 as agreed.

but……

These investment institutions are prepared and can basically complete the delivery within the last week.

There is no need to issue a C-2 round preferred shares.

According to relevant circumstances, Class A common shares are held by Fang Nian and Guan Qiuhe.

The situation of Class B common stock is a little bit more complicated. After the end of the Series C financing, that is, after April 30, 2011, all preferred stock holders have the right to convert preferred stocks into Class B common stock;

Or after listing, preferred shares will be automatically converted into Class B common stock.

all in all……

Under the complex capital equity operation method that is internationally accepted, with Dangkang's structure, Fang Nian and Guan Qiuhe's shareholding ratio will only lose their absolute voice when it is completely lower than 6.7%...

Guan Qiuhe changed her sitting position and looked at Fang Nian outside the window: "After the stock split, how do you calculate the equity pool of employees?"

Fang Nian casually replied: "The number of shares held remains unchanged. Now each share is more than twice as valuable as before. If you have any opinions, it is not enough to work hard! Otherwise, you should know that you can get more shares."

"Okay." Guan Qiuhe nodded happily, "It just so happened that after the New Year, we will provide performance encouragement for senior management, senior talents, etc.."

“…”

Originally, Dangkang's share capital was 1 billion shares, and the employee equity pool had a total of 50 million shares, each share worth RMB 10, accounting for 5% of the shares.

In addition to the 23 million shares shared with some employees, there are 27 million shares left.

In the C round of financing, the total share capital was split from 1 billion shares to 5 billion shares. After financing, each share was worth RMB 20.48.

The shares in the employee equity pool have become 250 million shares.

According to Fang Nian's discussion with Guan Qiuhe, the number of shares held by all employees remained unchanged, that is, it was still 23 million shares, and the remaining shares of the employee equity pool became 227 million shares.

To be more specific, Bingwa and Wu Hong, two employees with the largest shareholding ratio, originally held 5 million shares respectively, but now they are still 5 million shares.

However, the shareholding ratio was directly reduced, from the original 0.5% to 0.1%.

This is a different change from previous financing.

Of course, because they actually hold equity dividends, they are automatically redeemed by the company after leaving the company and do not have the right to trade outside, so they are still earned.

For example, according to general rules, if Wu Hong wants to withdraw from Dangkang, the company will redeem 5 million shares in his hands according to the agreement, and the standard method will cost 102.4 million yuan.

Of course, there are actually other agreements that are not so standard. If they withdraw within a certain period of time, they will definitely not get so much money.

However, unless you are stupid, you usually won't exit at this point in time.

After all, the dividends at the end of 2010 were RMB 3.828 per share.

Just by dividends, Bingfrog and Wu Hong received 19.14 million yuan before tax.

Ice Frog is still worth this price. The first classic internal test of Dota rebirth brought considerable revenue, and it is worthy of being the chief development of the original Dota.

Wu Hong is not bad, she is the best CEO since she was greedy and fun.

Guan Qiuhe was able to spend most of her time on cutting-edge part-time jobs, thanks to Wu Hong being able to take charge of the overall situation.

The advantage of stock split is that there are more shares in the employee equity pool to share, which can attract high-end talents more favorably.

The disadvantage is that the original shareholders did not obtain equal-to-efficient share shares.

If Dangkang's net profit in 2011 did not reach RMB 19.14 billion, the dividends of the shares they held would be lower than the dividends in 2010.

According to Dangkang's net profit margin, the annual revenue in 2011 will be at least RMB 50 billion, and all the net profits must be distributed.

Obviously, revenue and full dividends seem unrealistic.

But it can also be regarded as a new year's goal.

Of course, the dividends earned from employee stock ownership are entirely additional benefits, and their salary and benefits are not low.

In addition, it is not impossible to obtain new shares when it shows the value it deserves.

In general, from the perspective of company managers, this is a very reasonable way to do it.

‘Slap a sweet date’ this set is never out of date…

…………

…………

Shortly after dinner, Fang Nian and Guan Qiuhe attended a small banquet organized by Chen Nier.

Although it is similar to a cocktail party, it is not in public.

There is no landmark like the Frontier Angels Reception Party organized by Fangnian before, at Park Hyatt.

An old villa in Huangpu.

A private club can be regarded as Shen Neil's property.
To be continued...