Chapter 80 Clear Goals
For state-owned capital investment institutions, many times the first priority when selecting suitable projects is not the rate of return, but what it can bring to the development of local industries.
Shudu invested in Smartisan Mobile, and Hefei invested in NIO and BOE. Looking at the background of the times, the current status of industrial development and competitors, the return rate of investment in these companies cannot even beat bank deposits.
But they still invested in it in order to leave room for the upgrading of local industries, exchange funds for jobs, and exchange for opportunities for the coordinated development of upstream and downstream enterprises in the local industrial chain.
Therefore, the logic behind most state-owned investment enterprises is supply chain development and industrial collaboration, and the rate of return is only one of the more important reference indicators.
Shenzhen State-owned Assets Supervision and Administration Commission is backed by Pengcheng State-owned Assets Supervision and Administration Commission. The investment territory of Pengcheng State-owned Assets Supervision and Administration Commission is as high as 4.6 trillion. Chen Yuanguang's blueprint is very grand, but it will be paid in stages. The first stage only requires 2 billion. Only after seeing the results can we move to the next stage. stage.
It is not cost-effective to simply calculate economic accounts. Even if we can build a cosmic express delivery channel, spending tens of billions of dollars just to serve as many people as we can count on ten fingers on the space station, the costs and benefits will not match at all.
But the accounts cannot be calculated this way. Silicon Valley became Silicon Valley by relying on the accumulation of technology. A large number of technologies in the space race between the United States and the Soviet Union were commercialized after the Cold War, providing inexhaustible impetus for the development of Silicon Valley.
Shenzhen Venture Capital has the same idea, relying on investment to introduce the industrial chain.
China's aerospace industry is mainly concentrated in Yanjing and Chang'an. Yanjing is due to the large number of universities and the concentration of talents. A large number of start-up companies in the commercial aerospace field have chosen Yanjing. In addition to the reasons for universities, Chang'an also has history. factor.
As for Pengcheng's aerospace industry, which is very weak, there has been almost no opportunity before. This time, Light Armor Aerospace is the best opportunity. Chen Yuanguang's reputation and the investment scale of tens of billions of dollars are a gimmick to buy horse bones for a thousand dollars.
Chen Jing'an didn't say one thing, but he was thinking about battery technology. Chen Yuanguang dared to propose such a huge plan, dared to pay in stages, and gradually increased the capital from a small amount to tens of billions of dollars. It has to be somewhat authentic.
Why else would investors keep playing with him? No one's money comes from strong winds. Only when you see hope will you continue to increase your investment.
In Chen Jing'an's view, this plan can even be so long that Chen Yuanguang will devote his whole life to it.
The goal of the first phase of integration is to build a fully automated transportation channel, which means that solar cell technology needs to achieve a breakthrough.
Chen Yuanguang’s apprentice at MIT was Mongi Bawendi, one of the pioneers in the field of perovskite cells. There was no content related to perovskite cells in the results published by Chen Yuanguang before. Chen Jing’an does not think that Chen Yuanguang has not done it. Related research.
He feels that technological breakthroughs in the field of solar cells are Chen Yuanguang’s trump card, or even just one of his trump cards.
Of course this is just Chen Jing'an's guess. It is a plus for Shenzhen State Investment. As long as Chen Yuanguang's leadership can produce corresponding results, this transaction will be profitable for Pengcheng. .
The investment in the first phase is US$2 billion and the second phase is US$5 billion. The greater the loss, the more valuable the results produced by Chen Yuanguang are, and the more profit Pengcheng’s state-owned assets will make.
The more you lose, the more you make.
The six investment managers from Hefei State Investment Corporation in the audience looked at each other in confusion, and Shenzhen State Investment Corporation said their words first.
Hefei, a star investment institution in the field of venture capital after the explosion of new energy vehicles, has a managed assets of 5 trillion, which is comparable to the Pengcheng State-owned Assets Supervision and Administration Commission. It is known as the city of venture capital by the outside world because of its boldness and carefulness.
Unlike Pengcheng, which only came to Shenzhen State Investment Corporation, Hefei came to have senior investment managers from three fund companies: Emerging Industry Development Fund, Industrial Transformation and Upgrading Fund, and Hefei High-Quality Development Guidance Fund.
When Chen Yuanguang introduced the project just now, they had already agreed that everyone should invest in this project together. The emerging industry development fund with the largest management scale would subscribe for US$1 billion, and the other two companies would each subscribe for US$500 million. Considering that Chen Yuanguang owned Guangjia Technology, a monopoly company valued at tens of billions of dollars, they originally planned to sign a gambling agreement with Chen Yuanguang and use Guangjia Technology's shares as the subject matter of the bet.
Unexpectedly, Shenzhen State Investment came out to disrupt the situation. Duan Zhizhong, the investment manager of Hefei Emerging Industry Development Fund, quickly raised his hand: "Dr. Chen, we Hefei State Investment are also interested in investing in Guangjia Technology, and Shenzhen State Investment is also interested in investing in Guangjia Technology." Different from SDIC, we plan to share risks through three fund companies.
We also have only one requirement, which is to put our headquarters in Hefei.
Compared with Pengcheng, Hefei's biggest advantage. It is about talents. We have Huaguo University of Science and Technology. We are very close to the Yangtze River Delta region and can attract outstanding graduates from Shenhai, Jinling and Hangcheng to form a new aerospace industry gathering place.
We and. The only disadvantage compared to Pengcheng is that financial capital is not active enough, but private capital and foreign capital are unlikely to consider such a grand project. This disadvantage can be offset.
Hefei has the strength, willingness and patience to support your grand idea. ”
Anyway, the first phase is 2 billion US dollars, and it is still subject to supervision. They are not afraid at all and invest boldly.
For Pengcheng and Hefei State-owned Assets, the only regret is that they actually thought of it.
Shenhai State-owned Assets also came to the scene. Seeing that Hefei and Pengcheng actually wanted to take our company away, they couldn't bear it.
Shenhai’s support and scientific research strength will only be stronger than theirs. Since their autonomy is much weaker than the other two, the fund manager of Shenhai State Investment is calling urgently for instructions
As a result, the state-owned assets of Guangjia Aerospace were very active, and everyone had only one request, that is, the headquarters must be moved to them.
“It’s still the same as before. Everyone will write down their respective strengths and weaknesses, and then share their intentions. We will give you a clear answer after internal research later.”
Chen Yuanguang did not expect it to go so smoothly.
In his mind, among these state-owned assets, Pengcheng is definitely at the top of the priority list, not only because he is from Pengcheng, but also because Pengcheng is geographically close to Xiangjiang, so some inconvenient research content can be put away Go to Xiangjiang.
Hefei and Shenhai are both very good, but the content they provide is not what he wants.
Moreover, Hefei, Shenhai and Pengcheng have no fundamental difference in their attractiveness to talents. Hefei relies on its housing price advantage, while the other two places rely on the charm of first-tier cities.
Chen Yuanguang continued:
“Thank you very much for your trust in me. I want to say something first. This project is in my plan for three years. In three years we have to complete the phased As a result, we will establish a transportation channel to low-Earth orbit.
In five years, we will build a transportation channel to lunar orbit and conduct the first space mining attempt. ”
(End of this chapter. )