Chapter 414 Hanhua Capital 2002 Summary Report (Part 1)
No one had any objections to Xu Liang’s words.
Qi Hong, wearing a red slim-fitting sweater and black pencil pants, stood up.
She is the head of Venus Fund, a subsidiary of Hanhua Capital.
“Hello, colleagues, I am Qi Hong, the person in charge of Venus Fund.
Venus Fund mainly invests in precious metals and jewelry raw materials. Currently, it has two precious metal funds, No. 1 and No. 2 jewelry fund.
Fund No. 1 raised 500 million Huaxia coins and mainly invested in rare earths and lithium. It currently holds 2,210 tons of rare earths and 23,000 tons of lithium of various elements. ”
Nowadays, whether it is rare earths or lithium, they are all considered cabbage prices.
The current price of rare earths is 100,000 Chinese coins per ton. This is an unrefined rare earth and is full of various
Not only did Xu Liang know that the price of rare earths would skyrocket, but he didn't know which element was more valuable, so he simply made a mistake.
The price of lithium is cheaper than rare earths. The current international price is about US$2,000, and it can be cheaper if purchased in bulk.
“The current annual growth rate of Venus No. 1 Fund is 34.7%. Venus No. 4 Precious Metals Fund has started raising funds and plans to raise 2 billion Huaxia coins.
A good example of No. 1 Fund, It's going relatively well at the moment. 700 million Huaxia coins have been raised. As expected, it will be basically completed within half a year."
After a pause, Qi Hong turned her head.
“Mr. Xu, can the Venus 4 Fund expand the investment scope of precious metals?”
Xu Liang shook his head after thinking about it briefly.
“No, it’s better to be specialized than to be precise. The Venus Fund will focus on rare earths and lithium.”
Next, with the great development of the electronics industry and the explosion of the electric vehicle industry, rare earths and The price of lithium has also skyrocketed.
So he knows very well how bright the future is for these two precious metals.
Of course the future of gold is also good.
But far inferior to rare earths and lithium.
A ton of rare earths that costs only 100,000 Chinese coins now will rise to one million in ten years, and rare elements will exceed tens of millions in twenty years.
Lithium is not bad either. Currently, a ton of lithium costs less than 20,000 Chinese coins, but it will rise to 500,000 a ton in twenty years.
The increase can easily be dozens or even hundreds of times, which is much better than gold.
Even before he was reborn, gold was only five or six hundred Chinese coins per gram, not even ten times its current price.
If it weren't for the limited production capacity of rare earths, the current annual rare earth production in China would only be about 5,000 tons. Xu Liang would have invested all in rare earths.
After being rejected, although Qi Hong was a little disappointed, she quickly adjusted her mood and continued.
"Venus No. 2 Jewelry Fund has raised 500 million Chinese coins, mainly investing in jade raw stones. It currently holds 137 pieces of ice type and above half-block materials and jade clear materials. It will be floated after one year of holding. Up 47.5%. ”
After the jadeite stones are dug out from the ground, most of them have a layer of rock skin. It is impossible to see whether there is jadeite inside, or what the quality of the jadeite is?
So the business of betting on stones was born.
An experienced stone gambler can blindly guess the jade seed water inside based on the performance of the shell. The most anticipated program of the annual public auction is stone gambling.
One knife to heaven, one knife to hell, just like dancing on the tip of a knife, making people want to stop.
Of course, there are full-blocking materials and half-blocking materials.
When a piece of rough stone performs well, in order to increase their profits, jade merchants cut it open and turn the full block into half block.
The price of the latter is naturally higher.
The so-called open material is the unprocessed jade raw material with the skin completely peeled off.
Price is more transparent.
Many jewelry investment funds will invest in fully blocked materials, semi-blocked materials and open materials. As long as you don't understand the stone, the value will definitely increase.
However, Xu Liang didn’t know how to gamble on stones, and he didn’t want to take risks, so he just bet on half-block materials and open materials.
“We plan to establish the Venus No. 5 Jewelry Fund and raise 2 billion Huaxia coins. The new fund is currently in the planning stage and will officially start raising funds after the Spring Festival. It will still focus on jadeite rough.” Qi Hong continued. .
Xu Liang nodded.
As Hanhua Capital continues to grow, Venus Fund has shown signs of being a hodgepodge, which he does not want to see.
Investment must be as specialized as possible, and only after accumulating rich experience can we make more accurate judgments.
So the reform of Venus Fund is imperative.
“I am very grateful to Mr. Qi for his contribution. Under her leadership, the development of Venus Fund has been rapid. Therefore, the head office decided to give Mr. Qi an additional 500,000 Chinese coins on the basis of the original reward. Rewards.”
"Thank you, Mr. Xu, and thank you to the company. I will repay the company's cultivation with better performance." Qi Hong said happily.
Venus Fund is different from other hedge funds and investment funds of the company. Whether it is precious metal investment or jewelry investment, it is carried out in accordance with the company's established strategy, and there is almost no room for investment talents.
Therefore, Qi Hong does not enjoy 20% of the fund’s profit dividends like other fund managers.
She only has 2%.
So, five hundred thousand Chinese coins is not a small amount to her.
If you give me the sweet dates, I will certainly smash the stick.
Xu Liang smiled and nodded, "After three years of development, the company has grown a lot compared to the beginning. In order to adapt to the new development form, the investment will be more professional.
So always The company decided to split the Venus Fund.
Precious metal investment will still be under the responsibility of Venus Fund.
The newly established 'Comet Fund' will be responsible for the jewelry investment.
Mr. Qi, can you choose between the person in charge of Venus Fund and the person in charge of Comet Fund? ”
Looking at the smile on Xu Liang’s face, Qi Hong’s previous excitement turned into bitterness in an instant.
After all, no one wants to see the fund they managed to manage with great difficulty be replaced by Share half of it.
But she also knows that the comfort of five hundred thousand Huaxia coins has been given, and the matter is a foregone conclusion.
"Mr. Xu, can I think about it?" ""certainly. ”
“I’ll give you three days, and tell Mr. Jiang the results after three days.”
“Okay.”
“Zhao Shuang, your HR department should take charge as soon as possible. The search for new fund managers will focus on promotion within the company," Xu Liangdao.
Zhao Shuang, director of the Human Resources Department of Hanhua, nodded quickly.
Whether it is the Venus Fund or the newly established Comet Fund, it does not require much investment ability, as long as the management ability is passable.
It is even said that in these two funds, loyalty is more important than ability.
After the Venus Fund ends, there is the Jupiter Fund.
As a PE fund under Hanhua, unlike Venus Fund, there is only one person in charge, Qi Hong.
Jupiter Fund currently has three sub-funds, each with a person in charge.
The Jupiter 1 Fund is Xu Liang's private residence, and the person in charge is Zhao Xun.
Currently holding three assets.
32% stake in Tencent.
7.69% stake in Alibaba.
9.3% stake in Netflix.
Netflix's equity was originally 10%, but with Netflix's listing, part of it was diluted. However, at Xu Liang's request, Hanhua did not cash out.
Currently, as Netflix’s stock price rises, the value of this equity is close to US$200 million, which is double the original investment.
Liu Zhiping, head of Jupiter 2 Fund.
It has five assets.
Invested US$11.29 million to hold 29% of Mengniu’s equity.
US$12 million holds 18% of Supor.
USD 30 million holds 15% of Gree Air Conditioning.
USD 18 million holds 12% of Anta.
USD 45 million holds a 5% stake in Hua Xia Bank.
These five investments consumed more than half of the US$170 million raised by the Jupiter 2 Fund.
The Jupiter 3 Fund is in the United States and is headed by Duan Yongping.
Currently still in the fundraising stage.
In addition to the US$30 million invested, he also plans to raise US$20 million.
Then there is Mercury Fund.
There are currently two Mercury funds, one in Beijing and one in Silicon Valley.
The money in each hand is not much, basically ten to twenty million US dollars.
However, the investment in the angel round is not large, basically no more than one million US dollars, so tens of millions of dollars of funds may not be used up in a year.
The person in charge of Mercury 1 Fund is Jiang Zhe, who was originally the deputy director of the technology development department of Hongmeng Bing Company and was responsible for the technology research and development of Bing’s ‘Question and Answer’ business.
With good technical ability and certain management capabilities, Xu Liang asked him to come over and put him in the position of the person in charge of the Mercury 1 Fund.
Mercury 2 Fund is in Silicon Valley and has just found a suitable person in charge.
Rolf Bassa was originally the chief financial officer of PayPal. After PayPal was acquired by eBay, he was idle at home.
Then he was poached by Lin Junrui and Chen Shijun.
After Mercury comes the Mars Fund.
There are currently five funds.
The Mars 1 Fund is in Beijing and was originally in charge of Jiang Xiaoyang. However, as the company grew larger and she had more and more things to do, she found a new person in charge of the Mars Fund.
Looking at the middle-aged woman wearing a purple coat who walked up to the front desk, Xu Liang's information also appeared in his mind.
Lu Bingyun.
After graduating with a Ph.D. in biology from Huaxia Medical University and studying at Columbia University for three years, he did not enter the medical industry but entered a venture capital fund owned by Ruihui.
I was recruited by Jiang Xiaoyang in the second half of last year and became the head of Hanhua Capital Mars 1 Fund.
So the investment direction of Mars 1 Fund is also mainly in the pharmaceutical field.
"Hello colleagues, I am Lu Bingyun, responsible for the investment and management of the Mars One Fund. Currently, the fund holds shares in six companies.
Yongkang Dental holds 15%, Chaoju Ophthalmology holds 10%, and It holds a 14% stake in Jiamei Dental, a 20% stake in Dental Doctor, a 12% stake in Meilai Medical Cosmetology Group, and an 18% stake in Asite Medical Cosmetology Hospital.
The average holding period is two years, according to our statistics. According to the evaluation, although the above-mentioned company is not listed, its revenue has increased by 5 to 10 times compared with before the investment.
Net profit has increased by 3 to 8 times compared with before the investment. After two years, our investment has increased. We have received generous returns.
In addition, after the blockade period of Bright Glasses stock, our equity has been fully cashed out, with a total profit of 240 million Huaxia coins in three years, a profit of 16 times.
At present, the Mars One Fund is mainly engaged in three aspects of work.
First, the two-year blockade period of the Mars One Fund is about to end, and we are launching a new round of fundraising.
The plan is to raise 1.5 billion Huaxia coins and the blockade period will be two years.
Second, the merger of Yongkang Dental, Jiamei Dental and Dental Doctor.
Third, look for new investment targets. ”
After finishing speaking, Lu Bingyun raised his head and said, "My report is finished. More detailed information has been submitted to the head office for review."
(End of this chapter)