“He has been inviting me to join his Longteng Club, so I want to know what you think of him.”

"You decide on this matter yourself, but I can introduce him to you."

Gu Yanzhi pondered for a while, then said slowly: "When he was having a meal, he acted very polite because his uncle was there. In fact, his personality was not like that. Ten years ago, Jin Dong had a difficult business operation, so he found Xu Shouqin and asked for financing of 75 million US dollars. Do you know how Xu Shouqin replied to Liu Qiangdong?"

"How did you reply?"

"He said he would either ask me to invest 300 million US dollars, or he would not invest 1 point. If you were Liu Qiangdong, how would you choose?"

"Of course I'm willing."

"Liu Qiangdong also chose this way. Because of this, Xu Shouqin and his Longteng Fund were once ridiculed as being stupid and expensive. But four years later, Jin Dong went to the United States to go public, and the 300 million US dollars became 3.9 billion."

Gu Yanzhi's tone did not have any subjective emotional color, as if the man she had intimately called Uncle Xu was just a stranger.

She did this to give Chen Liang a fair and objective understanding of Xu Shouqin.

"In addition to JD.com, Longteng Capital also invests in domestic and foreign companies that are familiar to everyone, such as Didi, Baidu, Geli, media groups, and Miniso, which have just been listed recently. Its capital raising ability is the best in China. And it took Xu Shouqin only 15 years to do all this."

"How did he start?"

Chen Liangqi asked.

Gu Yanzhi adjusted a more comfortable position.

"Speaking of this, his fate is similar to yours. With the simple purpose of getting scholarships, Xu Shouqin chose Yale to study for a master's degree. As a result, after entering Yale, he realized that he only received a one-semester scholarship and had to rely on his own for two years. Due to life, he could only find an internship in the Yale Investment Office. It was this job that allowed him to meet the man who changed his life... David Svenson."

"Former Chairman Morgan said that there are only two truly great investors in the world, namely Svensen and Buffett. Since Svensen took over the Yale Endowment Fund in 1985, he has maintained an average annual rate of return of 16.1%, which can be said to be the God of Wealth of Yale. With the development of the times, a large number of entrepreneurs and high-tech companies have emerged in China. Xu Shouqin foresees that my country is about to rise, so he gave up the stable work of the New York Stock Exchange and chose to return to China to start a business. First of all, you have to have money, while private equity requires more money. So before returning to China, Xu Shouqin brainwashed Americans and held a heavy holding in Longguo, but no one was willing to believe him back then. In the end, his teacher Svensen allocated $20 million to him from Yale Investment Fund to establish Longteng."

Chen Liang listened with relish, and he always understood that Gu Yanzhi was never a precious vase with just a look.

"Xu Shouqin's first bet after returning to China was on Tengxun, which was valued at less than $2 billion at the time. 15 years ago, most people didn't even know what the Internet was. Xu Shouqin, who used msn, was actually not optimistic about Penguin. He thought that Penguin users were low-age, low-education and low-income. As users became more and more knowledgeable, they would abandon Penguin and switch to upgrade and use other network services. Later, this was confirmed on WeChat.

But for the sake of safety, he conducted a large-scale survey, from small vendors to investment offices, and found that everyone was using penguins. As an investor, the first thing he wanted to find was a company that created long-term value for society, so he chose to rush to Baotengx. Today, Tencent’s market value is 700 to 800 billion US dollars, which should be called far-sightedness.

Moreover, Longteng not only invests money, but also helps the company to make strategic plans. For example, the cooperation between the two rivals of Tengxun Jindong is due to the promotion behind Xu Shouqin. In fact, the most classic thing should be to privatize Belle International and then split it up and go public. My uncle often mentions this case. Whenever he mentions it, he is amazed and said that Xu Shouqin is a natural capital hunter."

"Isn't Belle International's split and listing? Dinghui's work?"

Chen Liang inevitably heard of this extremely classic merger case.

In 2007, as soon as the shoe giant Belle International was listed on the Hong Kong Stock Exchange, it directly exceeded HK$67 billion, and successively acquired several footwear and clothing brands such as Melisboa and Baroque. It was the first mainland blue chip included in Hong Kong City. At its peak in 10 to 2013, Belle opened 2,000 direct stores in one year, with an average daily pace of one, and its market value once exceeded HK$150 billion, accounting for 13% of the women's shoes market.

But it should be noted that Taobao has been born and flourished in 2013. The emergence of online merchant platforms has squeezed the living space of countless retail industries. Belle's customer traffic was severely diverted by e-commerce. In the following two years, the net profit fell by 55%, the stock price fell from HK$18 per share to HK$4, and the market value shrank by 78%, which directly led to Belle, who had grown into a giant for more than 20 years, and had to choose to privatize and delist.

"Yes, there are also participation in the acquisition of Belle Dinghui, but Longteng is the leading institution."

Gu Yanzhi continued to popularize science for a comrade.

"You should know how Belle declined, because its valuation is too low, which is not conducive to financing. In addition, the founder also wants to use money to retire. Longteng, who is optimistic about Belle's core business, joined forces with some capital to enter the market at the scene. He judged that Belle's problem was not the industry, but just couldn't keep up with the pace of the times. After taking over Belle, Longteng acted recklessly and quickly launched drastic reforms, decisively gave up women's shoes, focused on c2m, and introduced the c2m model. In order to build a brand image, he invested money to establish a top e-sports club and entered the young consumer market. A few years ago, Tobo International was listed with a market value of more than 50 billion Hong Kong dollars."

After hearing this, Chen Liang was amazed.

Compared to these real capital tycoons, his path is indeed quite long.

"The market and enterprises need capital to get rid of the image of barbarians, but not everyone can make advanced money. Longteng, who is in charge of Xu Shouqin, has become one of the largest private equity investment funds in Asia. If you are friends with him, you can at least learn a lot."

Finally, Gu Yanzhi summarized this.

Chen Liang lowered his head, pinched her perky nose, and flattered: "In ancient times, there was Huang Yueying, but now there was Gu Yanzhi!"

"Stop coming!"

Gu Yanzhi refused to take this trick, pushed him away, lay down to the side, and adjusted the pillow.

“Switch off the lights and go to bed.”
Chapter completed!