Tianhong Fund was established in 2004 with a registered capital of 100 million yuan. Within 6 years of establishment, the net asset scale has not changed much. In addition to dividends, the cumulative net asset scale has barely increased to 110 million yuan. The managed customer capital scale has reached 2 billion yuan. Such a small fund can only be considered a small public fund.

Compared with large fund companies such as Huaxia Fund, Jiashi Fund, Fuguo Fund, Penghua Fund, and TJ-based Tianhong Fund are currently just a marginal small public fund that is barely alive but not much oil. They are larger than most private fund companies, but compared with those large public fund companies with a managed capital scale of more than 100 billion, their market share is negligible.

Of course, the top fund companies in the industry are generally headquartered in Beijing, Shanghai and Shenzhen. They are either in the capital or in financial center cities.

Tianhong Fund is considered a local fund established by TJ City. Although it has branches in Beijing, its foundation is still relatively weak and without a relatively strong resource advantage, it is naturally difficult to achieve rapid development.

If you only look at the financial investment perspective, buying such a company is not cost-effective in investment. After all, over the years, the company's asset size has increased by almost a slight speed, which is not much different from the rate of return obtained by placing money in the bank to eat interest.

But for friends, they just need a fund license, no matter how capable the team is or how large the scale is, they can be ignored.

Anyway, after the acquisition of the friend, the users and funds in the friend's wallet are imported to the fund. Then, the user scale and the capital scale managed can become the top public offering giant overnight!

In order to obtain the fund license as quickly as possible, the partner company began to negotiate with several major shareholders of Tianhong Fund and completed the equity acquisition of Tianhong Fund as quickly as possible.

In fact, the securities industry and the fund industry have been open to private enterprises for a long time. But in fact, it is still very difficult to apply for a license. The difficulty is roughly similar to listing in the A-share market. Many high-quality companies that are fully qualified to go public are often queued for more than ten years, but still find it difficult to realize their dream of going public. This shows that in theory, a market with open theory still requires complex approval procedures, and there is still a certain degree of Landu to enter.

With the strength of a partner company, it may be more cost-effective to apply for a fund license yourself, but by the time of approval, other competitors may have already made the product in advance.

Therefore, only by acquiring a fund company that already has a license can we take the lead in launching the products to the market faster and faster.

Only by obtaining a public fund license can you issue money fund products that face the public.

Only by using the Friends Wallet can you feel at ease to import the cash pre-deposited by platform users into the money fund product, thereby completing the upgrade of the Friends Wallet.

Other products with higher risks are not necessary for friends’ wallets. However, the money fund function has become a standard for many powerful e-commerce websites and third-party payment platforms in the future. If the cash stored in the account has no interest, why should users transfer the money in the bank account to the third-party payment platform?

Once the user deposits a large amount of cash to the third-party payment platform, user stickiness is formed.

In the past, users could transfer money from the bank to a third-party payment platform when shopping. In this way, third-party payment platforms do not have enough competitive advantages over banks.

However, if the money fund function is turned into the basic function of the friend wallet, and the cash deposited by the user will generate interest every day. Then, the scale of funds deposited by the friend wallet will inevitably increase!

Money funds must be products released by their own company. Because there are risks in cooperation with other fund companies. Suppose that the friend wallet imports all of its tens of billions of user deposits into the money fund products. Suddenly, the partner turned against each other and said that he would end the cooperation with the friend wallet. In this way, it would inevitably hurt the vitality of the friend financial platform.

After all, the scale of domestic monetary funds is generally not very large. The largest monetary funds are only tens of billions of yuan in cash from managers.

If a friend's wallet introduces his own users and deposits to a money fund, the product scale can be quickly pushed to hundreds of billions of yuan.

Fund products with a scale of hundreds of billions of yuan will definitely be jealous, and partners may take the opportunity to snatch users away.

If the money fund product launched by the partner company's own wallet is actually snatched away by the fund company, this will shake the foundation of the partner team!

...

"Everyone, it's so tiring to talk to you about business. You are not real businessmen at all!" Wang Qinian said at the negotiation meeting.

"How can our state-owned enterprises compare with your private enterprises? Your boss can decide. The chairman of our company said it, but he also needs the consent of his mother-in-law, aunt, aunt, aunt, and aunt. If a god attacks, the matter will be ruined!" A director of Tianhong Fund said helplessly.

"We basically agree with the money aspect. The problem is that someone above now said that a certain equity should be retained in Tianhong Fund." Another director said.

The major directors naturally represent the interests of major shareholders. Although Tianhong Fund was initiated by many companies, they are all state-owned enterprises. Many state-owned enterprises are shareholders of Tianhong Fund, so they naturally have involved in the competent departments behind many state-owned enterprises and some officials.

These shareholders are state-owned enterprises, and their interest in transferring equity to make a fortune is far less enthusiastic than that of private enterprise bosses. During the acquisition process, most of their energy is spent on dealing with bureaucrats.

Wang Qinian made some promises, such as making a billion yuan investment in a certain place to create political achievements for some officials, which gradually made some big shots relax.

If it is a private enterprise, there will be no trouble. Not to mention that the company is willing to pay ten times the sky-high price. Even if it is two or three times the price, it is possible to transfer the equity in a daze.

After all, the profits of the fund industry are not as high as expected. The top fund companies in the industry may have a profit of only 20 to 30 billion yuan per year.

What, making hundreds of billions of dollars in a bull market or trillions of dollars? That is the money of customers, not the profit of fund companies. Fund companies can only earn management fees and handling fees for customer subscription and redemption, which is the main profit of public funds.

In other words, no matter how much money a fund product makes, it does not mean much to the public fund company itself. Only when the managed funds are large in scale, customers frequently subscribe and redeeming, and pay a large amount of handling fees. In this way, public fund can make money.

Only some private equity funds have to ask their customers that they must pay a commission to make money.

According to the size of Tianhong Fund, it will charge at most more than 30 million yuan of management fees and handling fees a year. Excluding the expense cost, it is considered good if you can leave a few million yuan in net profit.

Such a fund with few profits and limited resources. The shareholders behind it are all state-owned enterprises, which is a bit painful. In addition to constantly raising unreasonable prices, some shareholders even said that they would allow their partner companies to participate in or even control shares, but they asked to retain half of the shares.

Wang Qinian is absolutely unacceptable to this request!

Retain half of the equity?

Friends must have full control!

"1.5 billion yuan, subscribe to 90% of the equity of Tianhong Fund! You can retain one-tenth of the equity and share your subsequent growth. But if we didn't have our friends' holdings, we would naturally not inject resources. Then Tianhong Fund is still dead and will not improve at all! Only if resources are injected will there be a qualitative change!" Wang Qinian lost his patience and said, "If you are sincere, I hope to complete the equity delivery as quickly as possible. If the transaction is not completed by the end of this year, then we will consider acquiring other fund companies for efficiency!"

"Okay. The price is already very sincere. However, this matter needs to be reported..." Several major shareholders of Tianhong Fund said one after another.

They have long been very satisfied with the price, and what they are currently struggling with is the conservative equity ratio of the shareholders initiating.

The major initiators of Tianhong Fund are all state-owned enterprises. If it were not for the small company, the price was sky-high. Any equity transfer would be suspected of losing state-owned assets.

Therefore, Wang Qinian generally does not acquire state-owned assets. If he really wants to acquire it, he will definitely not lower the price, but will instead give a sky-high price.

This is the only way to avoid any opponent in the future, throwing dirty water from the aircraft, saying that they embezzle state-owned assets, etc.

In fact, after the reform and opening up in China, there were indeed many wealthy people who relied on lowering the quotations of state-owned assets and acquired state-owned assets at a low price to achieve the goal of getting rich.

Although these people make a fortune quickly, they leave their original sin behind!

After all, their approach was actually a violation of regulations and laws, but it was a policy that turned a blind eye to the past and only pursued GDP, not some dark stories behind the scenes. However, Wang Qinian knew that it would not take long for the next boss to come to the stage to settle the liquidation and specialize in rectifying old accounts. He did not blame anything before, but to investigate it strictly to the end.

Therefore, this kind of mistake cannot be made at all. If a friend makes a transaction with a state-owned enterprise, he would rather buy assets at a high price than buy at a low price.

In addition, some officials with high power cannot fully believe their speeches, not because they do not trust their character, but because they are in the officialdom, and the policies of each term are different. This term keeps their words and can cover the big boss. Who knows whether the next term can cover the next term?!

Therefore, in recent years, my partner companies pay more attention to corporate governance and innovation, and rarely get involved in politics, especially the issue of teams between high-level factions.

Wang Qinian met all kinds of bigwigs and said that if he supports the central government, I will not take the side! The benefits of not taking the side naturally result in a loss of a considerable amount of political resources and benefits. However, as a rebirth, Wang Qinian knew more useful than the benefits given by the above.

The ten-fold premium acquisition still made the shareholders of the state-owned enterprise of Tianhong Fund feel satisfied. This matter was reported to the top, approved by the State Council, and handled the special matters. In mid-December 2010, the transfer of equity of the fund company was completed.

In this way, the partner company indirectly controls the photography of public funds through Tianhong Fund and has the qualifications to issue various fund products including money funds.

Next, the company began to be brewing. In early 2011, it upgraded the company's wallet and launched the company's Yu'ebao!

That’s right, Wang Qinian intercepted Alibaba’s Yu'ebao later!

Now Yu'ebao, a well-known product, is owned by my friends! (~^~)
Chapter completed!