"Hey! Yang Hao, why are you here?"

In the evening, Da Tiantian had just finished taking a shower, lying on the bed playing with her mobile phone, and was ready to go to bed, but who knew that Yang Hao actually came to her room.

If I remember correctly, according to the daily duty schedule, it should be Liu Shishi's turn today.

"Tiantian, they are pregnant," Yang Hao explained.

It would have been fine if she didn't explain. But after she did, Da Tiantian immediately became unhappy when she thought about the fact that she was the only one among the three girls who didn't get pregnant.

"Humph! Yang Hao, Tiantian, I'm very unhappy now."

In fact, she was very happy in her heart when she thought that Yang Hao would be monopolized by her for the next period of time. She was just showing a little bit of woman's temper and wanted Yang Hao to coax her.

Yang Hao has too many good friends and he knows that the best way to deal with women is to "force them to surrender".

"Ouch!" After Dada Tiantian's exclamation, Yang Hao picked her up by the waist, lay down on the bed first, and then put Dada Tiantian on top of him.

……

She regretted having acted so badly towards Yang Hao just now. Thinking that she would be the only one lining up to greet him every day from now on, Da Tiantian felt a chill down her spine.

Mmm! Full of chills.
-
Entering the Sage Time, Da Tiantian suddenly remembered that Yang Hao's company seemed to be planning to go public.
Thinking of this, Da Tiantian became interested. She was also curious about how much Yang Hao’s film and television company was worth.

"Hey! Yang Hao, I heard that you went to discuss the company's listing today. How much valuation did the other party give to Haori Film and Television Culture Media?" Da Tiantian's cheeks were rosy and particularly attractive. She lay on Yang Hao's chest and asked softly.

"One hundred billion." Yang Hao said lightly.

"Ah? One hundred billion?" Upon hearing this number, Da Tiantian couldn't help but scream.

All in all, Haori Film and Television Culture has only been established for more than four years. Can it be worth 100 billion?

Are you sure this is RMB?
Not Zimbabwean Dollar?
Although Da Tiantian was born into a wealthy family and has seen the world, 100 billion is still an astronomical figure for her.

"Yang Hao, you didn't lie to me, did the other party really give a valuation of 100 billion?" I always felt that Yang Hao's tone just now was too bland, as if he was joking.

"I'm not lying to you. It really is 100 billion." Yang Hao then briefly explained the three options proposed by Wang Chiping to Da Tiantian one by one.

"My dear, Tencent is interested in you."

It was clear from the proposal given by Tencent that they wanted to tie Yang Hao to Haori Film and Television Culture Media. Da Tiantian immediately understood the other party's intention.

Rather than saying that Tencent invested in Haori Film and Television Culture Media, it would be more accurate to say that it invested in Yang Hao himself.
-
People are easily tired in nature, and Da Tiantian fell asleep in Yang Hao's arms in a short while. At this time, Yang Hao's mind was extremely empty, thinking about the three financing plans given by Wang Chiping today.

Suddenly Yang Hao thought of a question.

The solution proposed by Wang Chih-Ping has a serious drawback.

In the second and third plans, the company will tie itself to Haori Film and Television Culture Media and have certain performance requirements. If the requirements are not met, the company will have to repurchase shares at an annual interest rate of 15% after three years.

But in another two years, we will have to face the epidemic, and the entertainment industry will come to a complete standstill. Even if Yang Hao has a system, the movie cannot be released, and he still cannot fulfill this performance bet.

It seems that none of the three cooperation plans given by Wang Chih-Ping are feasible, so we can only see what conditions are offered by other investment companies.

Over the next period of time, Da Tiantian had a very fulfilling but also very miserable life.

During this period, Yang Hao also met with a number of investment companies including Alibaba Group, Sequoia Capital, IDG Capital, Blackstone, etc.

Yang Hao was very disappointed. The valuations they gave were all very high, some were 800 billion, some were 500 billion, and some were even 1200 billion.

But they all have various restrictive clauses for Yang Hao, either requiring Yang Hao to sign a long-term contract with Haori Film and Television Culture Media, or having requirements on performance in the next five to ten years.

The reason why Yang Hao had the idea of ​​raising funds was that he wanted to make a fortune before the epidemic.

But these capitalists are really smart and have completely plugged these loopholes.

Yang Hao wants their principal, and the capital wants Yang Hao's interest.

It is really difficult to reap the benefits of capital.

Just when Yang Hao was a little worried about how to reap the profits, CITIC Securities, China Construction Securities, Cathay Securities, Huashengtong Securities, Goldman Sachs Securities, Morgan Stanley Securities and others also came to him.
-
Li Ci has been the executive director of Goldman Sachs Asia since 2005. She has issued more than 170 warrants in her ten years of business and is known as the "Queen of Warrants". (Warrants are a type of warrant.)
Looking at Li Ci, who had short hair, wore a women's suit, and was smart and capable, Yang Hao could only sigh that he was a hero.

As Yang Hao's wealth grew, the people around him were either rich or noble, and except for the female celebrities, most of them were men.

Yang Hao discovered an astonishing fact: the lowest level of this society is basically all men, and the highest level is also basically all men.

This is probably why the people who make the rules always call for gender equality, because in their view, women are indeed the disadvantaged party. In fact, they are a bit out of touch with the actual situation at the grassroots level.

"Mr. Yang, I heard that you are planning to list Haori Film and Television Culture Media recently?" The two men exchanged politeness when they met, and when the atmosphere became a little harmonious, Li Ci spoke first.

"We do have such a plan." Yang Hao nodded and admitted.

"I heard that many investment companies have contacted you, and it seems that you are not very satisfied with their conditions." Li Ci asked again.

Those investors and Goldman Sachs are all in the same circle, and they share a lot of information with each other. With a little inquiry and analysis, you can know most of it. It is no surprise that Li Ci knows it so clearly.

"Excuse me for being blunt, but there is absolutely no need for Haori Film and Television Culture Media to raise funds before going public. It can just go public directly after the IPO."

"Those who need financing are companies that are short of money for development. Your company should not be short of money, right?"

Li Ci's words reminded Yang Hao that Haori Film and Television Culture Media really did not need to raise funds.

Allowing capital to invest can indeed make shareholders feel that this is a combination of complementary resources and strengths, thereby raising the stock price, but it is tantamount to inviting a wolf into the house, and the consequences will be endless.

"Mr. Li, what do you think the market value of Haori Film and Television Culture Media will reach after it goes public?" Yang Hao asked the core question.

Market value is the focus of today's meeting. If the market value can still reach expectations without the entry of capital, then Yang Hao will definitely not choose to cooperate with capital.

“Enterprise valuation needs to be assessed not only on the company’s overall profitability, growth and other important aspects, but also on whether it can attract investors.”

"But according to my experience, companies started by celebrities are highly recognized by shareholders due to the personal influence of the celebrities, and the stock prices are generally not low."

"It's hard to say the exact valuation of Haori Film and Television Culture Media, but one thing is certain, it will definitely be higher than Huayi's market value." After listening to the other party's explanation, Yang Hao nodded to show that he understood.

Huayi’s current market value is more than 30 billion yuan, which means that in Li Ci’s opinion, Haori Film and Television Culture Media’s market value is at least over 30 billion yuan.

"Mr. Yang, there is a special mathematical model for stock pricing, but it requires specific financial, tax, future plans and other related information. I hope you can understand." Li Ci seemed very professional. Fearing that Yang Hao didn't understand, he explained the mathematical model of stock pricing to Yang Hao.

All shares of Haori Film and Television Culture Media are controlled by Yang Hao alone, so its financial information has never been disclosed to the public. The outside world's valuation of Yang Hao's company is roughly guessed based on the box office of the films produced each year, so it is understandable that Li Ci cannot give a specific valuation.

"Mr. Li, if I let Goldman Sachs to handle the IPO of my company, how long will it take to go public?" Yang Hao asked another very critical question.

Hearing this question, Li Ci was delighted. Since Yang Hao asked this question, it meant that he had the intention to cooperate.

"Mr. Yang, in fact, the biggest problem for a company to go public is that it must continue to make profits within three years. Everything else is minor."

"This is indeed a problem for other companies, but it should be no problem for you."

"For a high-quality company like yours, half a year should probably be enough."

Now everyone knows that Yang Hao has never failed in his film and television investments since his debut, and the box office of each movie is higher than the last.

Although the specific financial situation of Hao Ri Film and Television Culture Media is not very clear, Li Ci estimates that Yang Hao's film and television company had a net profit of at least 2 billion last year.

This is net profit, not revenue.

A net profit of 2 billion per year is absolutely rare among all the film and television companies in the entertainment industry.

The reason why other companies have such a hard time going public is because they have too many financial problems and cannot pass the review. This is not a problem at all for Yang Hao's company, so it will be very easy to operate the listing.

Yang Hao understood what Li Ci said.

Scandals often broke out in the past, and many companies manipulated their finances in order to raise money for listing.

Yang Hao remembers very clearly that there were constant signals that the supervision of IPO issuance would be tightened in 2024. Just because the IPO spot check ratio was increased from 5% to 20%, this small change directly caused 552 of the 439 companies originally queuing for listing on the A-share market to withdraw overnight.

A withdrawal rate of over 80 percent is simply shocking.

Why has the A-share market been sluggish? It is definitely not just because of the bad overall environment, but rather that there are problems at the root.

You just want to buy some stocks, but others want to sell the company to you. Who can win this game?

"Mr. Li, I hope the company can go public before December this year. You should know that I am currently shooting a blockbuster movie that will be released in December. As long as the movie is a big hit at the box office, the company's stock price should rise sharply."

"I understand, Mr. Yang. It's only May now, and there's still half a year until December. Hurry up, there should be enough time." Li Ci calculated the time in his mind and made the promise after thinking there was no problem.

Yang Hao actually didn't tell the truth. The reason why he was in such a hurry to go public was because his shares had a one-year lock-up period after the company went public.

If it is listed at the end of this year, it will take until the end of 2018 to cash out. If it is cashed out in the first half of 2019, it will be ready to face the epidemic at the end of the year.

When the epidemic is about to end, we will buy back the company's shares at a low price.

The money earned can be invested in the cultural and tourism projects supporting the Honghuang Universe, thereby expanding one’s investment share and strengthening one’s voice.

Yang Hao also has an idea. During the epidemic period, the real estate market will collapse and many of Wanda’s assets will be sold. If possible, he might be able to take over Wanda Cinema Line.

I have a mature film production team and film distribution channels. As long as I make up for the shortcomings of movie theaters, the industry will form a closed loop, and I will no longer have any flaws in the entertainment industry.

"Okay, then let Goldman Sachs handle the IPO of Haori Film and Television Culture Media. I hope Mr. Li can help."

Yang Hao has come into contact with many securities firms recently, but Yang Hao feels that Li Ci is the most sincere and offers the best conditions.

But in China, the most powerful securities firms are definitely those with Chinese characters in their names, such as CITIC and CSCEC. If a company wants to be listed on the A-share market, it really cannot do without the support of these semi-official institutions.

After comprehensive consideration, Yang Hao finally chose Goldman Sachs and several other securities firms including CITIC and China Construction to jointly underwrite.

"Mr. Yang, I will have the auditing agency conduct an IPO audit on your company as soon as possible. I hope you will cooperate with me and get all the materials ready as soon as possible."

"Ok, there's nothing wrong with that."

"Then it will be a pleasure to cooperate."

"Pleasant to work with."

After several hours of negotiations, Yang Hao finally reached a cooperation agreement with Goldman Sachs Securities.

"By the way, the company of Zhao Liying, Da Mimi, Liu Yifei, and Liu Shishi also plans to go public. I'd like to trouble you to help run it."

Instead of bothering two people with one matter, since Yang Hao had decided to cooperate with Goldman Sachs, she simply handed over the listing matters of the four of them's company to them.

"I'm happy to do so." Li Ci said with a smile.

Yang Hao's company is a unicorn enterprise, but the companies of Zhao Liying, Da Mimi, Liu Yifei and Liu Shishi are not bad either. Their combined market value is at least over 10 billion yuan, which is also a big order for Goldman Sachs Securities.

The brokerage firm's profit not only comes from insurance premiums, but also from internal subscription of shares. Companies owned by people like Yang Hao, Zhao Liying, Da Mimi, Liu Yifei, and Liu Shishi are all high-quality companies, and their stocks will definitely rise sharply after they are listed.

Subscribe at a low price and sell at a high price after listing, this is the bulk of the brokerage firm's profits.

There is no way. You can't have a monopoly on stocks. Without large-scale purchases from institutions and securities firms, retail investors alone cannot support the large number of stocks issued by a company after its listing.
-
As soon as Yang Hao returned to the crew, Da Mimi and Liu Shishi immediately surrounded him.

"Yang Hao, you look so happy, have you reached an agreement on the listing cooperation?"

Da Mimi and Liu Shishi couldn't help but be concerned because the amount involved was really too huge. Even their company was worth tens of billions.

"Yes! The negotiation was successful." Yang Hao told the truth without hiding anything.

"What do you mean? Which company did you accept the financing from?" Upon hearing that the deal was successful, Da Mimi and Liu Shishi became excited.

"We won't raise funds anymore, we'll just go public through IPO."

...(End of chapter)