Liu Yan did not answer immediately. He stood up and poured wine for Lao Tang, but Lao Tang expressed that he wanted to drink whiskey instead.

Liu Yan took the whiskey, took a few steps with great ambition, and then said loudly: "On the surface, Jianghe Mall and Yishang.com have been fighting fiercely in the past few years, and both sides have suffered losses.

Although Yishang.com went to Nasdaq to ring the bell in 2007, although its turnover has doubled every year in the past three years, its net profit has not increased but has declined year by year. It is purely a loss-making operation. Naturally, the stock price has not improved and trading is bleak.

Jianghe Mall has been aiming to be listed in China because the price-to-earnings ratio of A-shares is much higher than that of U.S. stocks.

However, due to the desperate struggle with Yishang.com, the financial indicators have never reached the listing threshold.

Therefore, investors in both companies are eager to merge.

The shareholders of Yishang can get a premium and leave, Jianghe Mall can speed up its listing process, and investors are expected to cash out and exit as soon as possible.

There is a deeper reason. As I just said, although Yishang.com and Jianghe Mall are currently among the best in the domestic e-commerce industry, they are both products of the PC Internet era, and they are just dinosaurs that are strong on the outside but weak on the inside.

Whether they can survive into the mobile Internet era is hard to say, so they all feel that time is running out.

Yishang.com is eager to get out of the way, and Jianghe Mall wants to be listed in its final glory. This opportunity must not be missed before the time comes."

Mr. Hong interjected: "Jianghe Mall really gritted its teeth and spent all its money this time, bidding nearly 700 million U.S. dollars. Such a high premium is enough for the shareholders of Yishang.com to refuse."

Mr. Qu couldn't help but be speechless, but Mr. Yao, who had been silent for a long time, suddenly looked up to the sky and sighed.

In shock, I heard Mr. Hong ask with a smile: "What's wrong, Mr. Yao? Are you regretting it? If I had known today, I shouldn't have sold your shares in Yishang.com so early, allowing Mr. Liu to get a big advantage."

Liu Yan immediately declared: "I don't think this is a bargain. When Yanhe Investment just started in 2005, it was hard to get projects in hand. It happened that Sanjing Capital wanted to transfer the equity of several projects it had invested in, so I took over.

.

At that time, Mr. Yao did make some concessions, but only for small projects that neither of us were optimistic about.

Yishang.com is the largest project, and Mr. Yao insists that the potential for appreciation is considerable and refuses to discount it, so how can you say I got a bargain?"

Mr. Yao shook his head sadly: "It's none of Mr. Liu's business. One of us is willing to buy and the other is willing to sell. It's a fair deal. What's there to regret?"

The key is that I shouldn't invest my money back in the coal industry!

Alas, I’m just saying this today, but I didn’t think so at the time.

Coal was so profitable at that time that starting from 2003, I just lay down and counted the money.

If we hadn't thought that investing in the Internet would be faster than buying a mine, Mr. Xu and I wouldn't have decided to sell Sanjing Capital and return to Shanxi Province to start our own business.

Unexpectedly, the situation was reversed in 2008. Especially last year, when the National Advancement and Private Retirement was carried out, the price was not negotiable, and we lost a lot of the money we invested.

Alas, it would have been better five years ago if I could just immigrate with money. Making money and losing money was secondary. The key is how much less suffering I have suffered..."

After a period of silence, Liu Yan asked in a low tone: "Did your interview at the US Embassy go well this time? Oops, I spilled the beans. I'm sorry, Mr. Yao. Fortunately, these few are not outsiders, so it shouldn't spread around.

.”

Mr. Yao waved his hand dejectedly: "It doesn't matter, he is leaving anyway, who would be interested in spreading my story."

At this time, Miss Luo suddenly came over and asked Liu Yan with a blushing face: "Where is your bathroom?"

Liu Yan said with a smile: "I just said that you are not an outsider. Can't you find out by searching every room? Just treat it as if you are at home."

Miss Luo also smiled: "Then I want to take a good tour, but I won't go upstairs."

When Miss Luo walked out of the cigar room in high boots, Liu Yan asked Mr. Qu tentatively: "You don't seem to know each other very well?"

"We're not familiar with each other, we've only met each other a few times." Mr. Qu said nonchalantly: "She works as an investment intermediary, with investors on one side and the entrepreneurial team on the other. She bridges the gap between them, so I really want to get to know more people."

Mr. Hong shook his head slightly: "Isn't it difficult to do the investment intermediary business? What is her value? Is it just relying on connections?"

Mr. Qu chuckled: "It depends on the face."

Seeing that the atmosphere was relaxed again, Mr. Hong approached Mr. Yao and said: "These days, there are not a few people who are leaving the country. I won't hide it from you. I applied for investment immigration in country M a few years ago, and now I am alone in the country.

.”

"I'm about the same." Mr. Qu said while pouring tea: "My son is studying in Canada, and my wife is staying with him there. I haven't changed my identity yet. I'll take it step by step.

That place is more suitable for women, so why should I go there? It’s too early to just eat and wait for death.”

Liu Yan joked: "How do you know that place is suitable for women? Did you send the main room, the second room, and the third room there? They won't live together, right? So that you can centrally manage it?"

Old Tang smiled and asked Mr. Qu: "Which city is your son in? My daughter is in Vancouver, looking for an opportunity to get together."

Mr. Hong also joked: "Mr. Qu, don't tell him, what Old Tang is thinking about is getting together with your wife."

Liu Yan pretended to be dissatisfied and said: "You talk about your children studying abroad in front of me, a childless person. Isn't it a bit inhumane?"

Old Tang curled his lips and said: "How can we be sure that you have no children? Maybe you have several in the countryside."

"Pull him down. He hid the child in the countryside because he was afraid that the eldest wife would find out. I don't have a wife, so what can I hide?"

At this time, there was the sound of heels clicking on the floor, and Miss Luo came back.

Old Tang looked serious and said: "When it comes to children, I suddenly remembered that Zhou Haiyang from Yishang.com should have a second child soon. I heard that he is currently in Hong Kong with his wife, who is expecting a baby."

Mr. Qu frowned: "No way? The merger of Jianghe Mall and Yishang.com is such a big deal, how could he not be in charge of Yanjing?"

Old Tang glanced at Liu Yan: "I'm afraid it's because... the merger can't be completed."

"How is it possible?!" Mr. Hong looked in disbelief, "Jianghe's bid is 40% higher than the current stock price of Yishang. Is Zhou Haiyang crazy if he still refuses to accept such a good condition?

What's more, as Mr. Liu just said, both of them know that this opportunity cannot be missed and it will never come again."

Old Tang glanced at Liu Yan again: "You have to ask Brother Liu, he has a veto power."

Liu Yan faced the burning gazes of Mr. Hong and Mr. Qu, smiled faintly, and then raised his chin towards Mr. Yao: "There is one person here who has more say in this matter than me, right Mr. Yao?"

Mr. Hong and Mr. Qu looked at Mr. Yao again.

Mr. Yao cleared his throat and said: "We, Sanjing Capital, were the first to invest in Yishang.com.

When negotiating the terms, Zhou Haiyang had been worried that as capital gradually entered, his shares would continue to be diluted, eventually leading to him losing absolute control of Yishang.com.

We had just started investing at that time and didn’t understand many things, especially Zhou Haiyang, so we didn’t engage in AB shares with the same shares but different rights.

Zhou Haiyang would like to add that no matter how many shares he holds, he can have veto power on major board matters involving company acquisitions, introduction of strategic investors, etc.

Mr. Xu and I think there is no problem, but for the sake of equality, we also want to have a veto power on the board of directors.

Zhou Haiyang agreed quickly. Maybe he just wanted to make sure that he had this card in his hand. It didn't matter whether others said yes or no.

The subsequent rounds of financing went quite smoothly. The new investors trusted both Zhou Haiyang and us at Sanjing Capital, so the veto power was never used. Everyone thought it was purely for show.

When Yanhe Investment took over our equity, it also took over the veto power."

Old Tang wondered: "Brother Liu, based on the past relationship between you and Zhou Haiyang, how could he watch you take over the equity of Sanjing?

According to the company's articles of association, the original shareholders should have preemptive rights, so they can buy the shares of Sanjing."

"Of course he wants to do that, but if he can afford that much money, it won't be my turn.

But he can’t take it out! I also sold it and raised a large amount of money to get it.”

Old Tang then said: "He can ask other investors to take action. It is better for the veto power to fall into anyone's hands than to fall into your hands."

Liu Yan smiled: "Mr. Yao and I agree. The fundamental reason is that Zhou Haiyang only cares about the veto power in his hand. As for whether others approve or reject, who rejects it? It doesn't matter, as long as he can make sure he can apply the brakes.

It's a pity that God is not as good as man. He never expected that I would put the brakes on him, and his good deeds may be ruined by my veto power."
Chapter completed!