My Age of Investment

the next day.

Guancheng.

Although it was already the end of December, Xia Jingxing felt the happiness of the people in eastern Guangdong as soon as he got off the plane.

Unlike the thousands of miles of ice in the north, the temperature here is just right, not too cold or too hot, making it the most comfortable.

Xia Jingxing took off the down jacket he had brought on the plane from the capital, and then brought it to Guancheng, and handed it to the accompanying staff. Wearing a light black suit, he felt that he was much more flexible in raising his hands and waving his arms.

"Old Deng, the manufacturing industries in Guancheng and Pengcheng are very developed. Do you think it is necessary for Envision Capital to open an office here?"

Xia Jingxing and Deng Yuanjun walked to the outside of the airport side by side, chatting casually as they had nothing to do on the way.

Behind the two, there are five or six employees who just returned from a business trip yesterday and continued to travel today, all working for the mobile phone industry merger and acquisition fund.

"At present, Envision Capital mainly invests in the TMT field. These companies are concentrated in Beijing, Shanghai, and Yangcheng. I suggest setting up an office in Yangcheng, where the Internet industry is developing well.

Both Pengcheng and Guancheng are mainly engaged in manufacturing, so Penguin is a bit famous, and I haven't heard of any other well-known Internet companies. "

Xia Jingxing smiled. At the moment in 2005, most of the Internet industry clusters were indeed concentrated in Beijing and Shanghai. Shanda is not lonely yet. Lin'an, where Ari is located, is still developing, and Pengcheng is not very well ranked.

"Okay, then let's open an office in Yangcheng."

Xia Jingxing glanced at Deng Yuanjun, "I think the mobile phone industry M\u0026A fund can set up two or three offices in Pengcheng, Guancheng, Jiangsu Province, Zhejiang Province and other places.

The Pearl River Delta and the Yangtze River Delta have always been the centers of manufacturing, and being close to each other makes it easier to find good projects in the first place. "

Deng Yuanjun felt that his boss was completely obsessed with investing in the industry, worried that the boss would go astray, and persuaded him: "Mr. Xia, we are a mobile phone industry M\u0026A fund, not an industrial investment M\u0026A fund.

In fact, the reason why domestic VCs prefer the TMT field is mainly because these industries develop fast enough, and they will be listed in two or three years at the fastest, and they will be listed in five or six years at the slowest, and they will reap the rewards.

The industry is different, the investment value-added effect is slow; asset-heavy operation,

The investment is large and the risk is high; the most critical thing is that the technology is too low-end, and many of them do not have core technology.

Of course, if you master the core technology, it is industrial technology, not a foundry, processing plant, assembly plant...

Only with core technology can the competitiveness of enterprises be strong, and can they gain advantages in the fiercely competitive market, grow rapidly and bring rich returns to shareholders. "

Xia Jingxing nodded, "That's right, but the meal should be eaten in bites.

Among the ten companies recently selected by M\u0026A funds in the mobile phone industry, tell me, which one has core technology? The kind of technology that is extremely competitive internationally. "

Deng Yuanjun was silent for a while.

Xia Jingxing said slowly: "If they can master the core technology now, it won't be the current valuation.

The reason why we invest in companies in the mobile phone industry chain is that financial returns are secondary, mainly to avoid being stuck by foreign countries.

These companies are indeed still immature at the moment, but when they grow up, they may bring us many unexpected surprises.

Google, Yahoo, including Facebook, either start a business in a garage or start a business in a school. Although Qijia was weak, they all created miracles.

With such a large market in China, I believe that it will be possible to develop that kind of industrial leader, not limited to the mobile phone industry, such as other consumer electronics, security, home appliances, etc. "

Deng Yuanjun's head suddenly became dizzy, and the boss thought of it as soon as he came out.

"Of course, you are still investing around the mobile phone industry chain."

Xia Jingxing said with a smile, "Bailu Foundation invests in all live devices (smart terminals) in accordance with the predetermined "Internet of Things" investment logic.

However, mobile phones are a key part of the Internet of Things strategy. In the future, the second and third phases of mobile phone industry M\u0026A funds will not only invest in mobile phones, or they will not be called mobile phone industry M\u0026A funds at that time, but smart equipment funds. , Internet of Things platform fund..."

Deng Yuanjun nodded. He attended the meeting in Hong Kong and knew that the boss had a big dream to let people all over the world live the life of Bill Gates.

Of course, it's limited to the smart home set.

He originally had some doubts about whether the Internet of Things could be popularized on a large scale and at low cost in the next ten years.

But last month, a piece of news made him cast aside many doubts.

At the World Summit on the Information Society (WSIS), the International Telecommunication Union (ITU) released the ITU Internet Report 2005: Internet of Things.

The report points out that the era of ubiquitous "Internet of Things" communication is coming.

All objects in the world, from tires to toothbrushes, from houses to paper towels, can actively exchange information through the Internet.

Radio frequency identification technology, sensor technology, nanotechnology, intelligent embedded technology will be more widely used.

Information exchange via the Internet is currently only possible with computer equipment.

But after the launch of the boss's smartphone, it should be able to take on this important task.

Deng Yuanjun thought about it carefully. The boss's investment layout seemed to be a hammer in the east and a hammer in the west, but when he thought about it carefully, it seemed that there were traces to follow.

It's just that he can't predict the future, and he can vaguely guess many things, but he still doesn't have a particularly clear concept.

If you can't figure it out, don't think about it, just do a good job of your own one-acre three-point land-the mobile phone industry. Deng Yuanjun couldn't keep up with the boss's train of thought, so he had no choice but to comfort himself like this.

Chatting, the group quickly approached the passenger passage.

Xia Jingxing was far away, and saw a few young people holding a red banner with a row of big characters "Welcome Mr. Xia Jingxing to visit and inspect", which was very eye-catching.

He is a bit big-headed, and walking in the country, as long as he arrives at a place and informs a certain company in advance, such a grand welcome ceremony must be indispensable.

Next to the young people stood two middle-aged men in their thirties and forties, and an old man in his sixties.

They saw Deng Yuanjun standing with a young man in his early twenties, and knowing that the big boss behind the scenes was coming, they greeted him with a smile.

"Mr. Xia, hello!"

The three of them greeted each other well, shook hands with Xia Jingxing one by one, and introduced themselves briefly.

The elderly man in his sixties is Chinese-American Chen Tanghua, the middle-aged man in his forties is Liang Shaokang from Hong Kong, and the man in his thirties is Zeng Jiqun from mainland China.

Xia Jingxing glanced at Chen Tanghua several times. He read in the information that this grandfather Chen Zanxian was a pioneer of the early labor movement in the country and the founder of the Ganzhou Party Organization. He died in 1927. There are monuments and statues there. Growing up in Bay Bay.

It's not easy to ask more about this kind of thing, so he simply pretended not to know.

Then, he focused his attention on Zeng Jiqun, who is the founder of the Ningde era and has a great reputation in the battery circle.

However, in ATL (Amperex Technology Limited), which translates to "new energy technology company", Zeng Jiqun is only one of the sixteen partners and one of the three main partners. He is currently the president and COO of ATL.

I don't know if it has something to do with the frequent use of the brain. Zeng Yuqun is not yet forty years old, but his hairline is already high, and his forehead is bright.

After a brief exchange of greetings, Xia Jingxing, Deng Yuanjun and several subordinates boarded the cars sent by ATL to pick them up, and drove towards the factory together.

Xia Jingxing asked Zeng Jianqun to accompany him by name, so the latter took the same car with Xia Jingxing.

In the car, Xia Jingxing chatted with Zeng Jiqun.

Talking about prices and valuations before coming up, Xia Jingxing asked about Zeng Jiqun's entrepreneurial experience and stories.

"I graduated from Jiaotong University in Shanghai majoring in shipping in 1989, and then I was assigned to a state-owned enterprise. After working for three months, I couldn't stand that kind of life and came to work in eastern Guangdong.

Wasn't there a saying at that time? From east to west, from north to south, make a fortune to the east of Guangdong! "

Zeng Jiqun was very talkative, and he was not too restrained when facing Xia Jingxing, and his words were very humorous.

"...At that time, I joined a foreign-funded enterprise mainly engaged in computer hard disks, called Xinke Magnetic Power Plant.

I worked in that factory for ten years, and met my two current partners there, Chen Tanghua and Liang Shaokang. "

Xia Jingxing nodded and said with a smile: "I read from the information that you start as an ordinary engineer and gradually become the team leader, workshop director, and technical section chief. At the age of 31, you became the youngest technical director of the new department, and the first A director from mainland China, very remarkable!"

Zeng Jiqun waved his hand modestly, "I am nothing, Liang Shaokang is the real one. He is the only non-Japanese executive director of the TDK Group since its establishment in 1935."

Xia Jingxing frowned, and it was the TDK Group that was competing with them.

The new branch is SAE, which is the old club of the three founders of ATL.

However, Shinco was acquired by Tokyo Denki Chemical Industry Co., Ltd., a Japanese new materials giant, more than ten years ago, and it is a wholly-owned subsidiary of TDK.

In the early days of its business, ATL also received capital injection from its former owner, TDK Group.

However, ATL later accepted the A-round investment of Wanwan Handing, the US Carlyle Investment and the B-round investment of 3i Capital of the United Kingdom for US$25 million.

Including the sixteen partners including Zeng Jiqun, ATL's shareholding structure is very scattered.

The matter of acquisition has also become very complicated.

Although TDK Group is a shareholder of ATL, it only enjoys the right of first refusal for the shares.

From the perspective of national sentiment, Zeng Jiqun is more inclined to sell to Envision Capital and Xia Jingxing.

But the other Chinese-American and Hong Kong people don't know what's going on.

Xia Jingxing didn't notice any problems when he shook hands and chatted with the two just now.

Just being greeted from the two-person airport doesn't mean that they are inclined to Envision Capital, maybe it's because they welcome someone who raises their price?

At present, the matter is far from being successful, Xia Jingxing didn't seem too optimistic, his brain was thinking quickly, how to bid successfully, and at the same time, the cost should not be too high.

Dear, click to enter and give a good review. The higher the score, the faster the update. It is said that those who gave the new full score found a beautiful wife in the end! The new version of the mobile station upgrade address:, data and bookmarks are synchronized with the computer station, no ads Fresh reading!