Chapter 605 Hanhua 2003
With three days left before the 2004 Spring Festival, Xu Liangcai left South Korea and returned to China.
“Hey, let’s go buy a bottle of soy sauce.”
Wang Lingxiang has no ambition at all to command the super rich worth tens of billions of dollars.
After Xu Liang expressed his concern to his old mother on the first day after entering the house, he became a cow and horse cleaning the yard the next day.
He looked at the soy sauce bottle handed to his face.
"Mom, why do you still eat soy sauce in bulk? Don't you get it in barrels?"
"How expensive is the barreled one? And it's not delicious. ...Get up quickly, I still have it." Waiting for it.”
After agreeing, Xu Liang took the soy sauce bottle, put on his coat, turned around and walked outside.
After a year of hard work, he still enjoys relaxing at home.
"Don't go to the canteen at the entrance of the alley to buy it. Their soy sauce is not fragrant. Go to Lao Wang's house across the street, where it says 'Wang's Supermarket'."
My mother's instructions came from afar.
"Got it."
Walking to the door, he happened to see Jiang Xiaoyang who had just stopped the car.
Wearing a red sweatshirt, khaki trousers, and her hair tied high, although she is dressed simply and plainly, she has an innate nobility in her bones.
"Why are you here?"
"Why, you're not welcome?"
"How is that possible. You are the future daughter-in-law of our old Xu family, can you come anytime you want?"
Xu Liang's words made Jiang Xiaoyang smile.
“That’s pretty much it.”
Glancing at the glass bottle in Xu Liang's hand, "What are you doing here?"
"Making soy sauce is what your future mother-in-law ordered."
Xu Liang said helplessly.
After laughing, Jiang Xiaoyang said: "Auntie still likes to eat bulk soy sauce?"
Although she is a big brother, in the 1980s, everyone was not rich, so Soy sauce was something she often did when she was little.
"Didn't you see it?"
Xu Liang raised the soy sauce bottle in his hand and gestured.
"I'll go with you."
Stepping over, he naturally took Xu Liang's left arm.
“Is the company on holiday?”
"I have a holiday today, and I will officially go to work on the sixth day of the lunar month."
A pause.
“My parents want to invite my uncle and aunt to visit my home when they are in the first year of junior high school.”
“First year of junior high school? Everyone in your family should be here, right?”
“ Hmm.”
Jiang Xiaoyang nodded, tilted his head and looked at him, "You don't want to?"
"How is that possible? It just so happens that I haven't gone to see your parents before I come back, so let's go together this time."
"This time it's not just my parents, but also my grandparents, second uncle, third uncle, aunt and sister-in-law."
"So many people?"
" Yes, everyone wants to see what a world-class rich man who earns 50 billion US dollars a year looks like." Jiang Xiaoyang laughed.
"What else can it look like? Of course it's the way you like it."
As he said, he stretched his mouth out for a kiss.
Jiang Xiaoyang quickly blocked the way and said shyly: "There are many people here."
"We are already an old couple, what are we afraid of."
"Who is an old couple with you? Smelly. …By the way, I brought you Hanhua’s 2003 financial report. Do you want to see it?”
"Wait until I finish making the soy sauce and go back to see."
We came to the 'Wang's Supermarket' that my mother mentioned, a convenience store of fifty or sixty square meters.
The shelves are full, and in front of the cashier are hanging White Rabbit toffees, figs, Tang Monk meat, fruit peel and other snacks that children like.
A girl in high school uniform is sitting inside watching TV.
Hearing the movement, he quickly stood up and looked over.
"So beautiful!"
This is the first time she has seen such a beautiful woman in real life.
"Little sister, do you sell bulk soy sauce here?"
Xu Liang's voice attracted her attention.
“Oh, yes, yes, how many did you hit?”
"Just fill it up."
"Wait a moment."
The little girl glanced at Jiang Xiaoyang again, then ran inside with the beer bottle in his hand.
“Look, even the little girl is fascinated by you.”
Jiang Xiaoyang rolled his eyes at him and said nothing.
After a short time, the little girl ran back again.
"Your soy sauce."
"How much?"
"Two yuan."
Xu Liang touched his pocket, his face Showing a hint of embarrassment.
In the past, when he went out, he didn't need to spend money at all. Lu Hui and the assistant team would make arrangements. He also developed the habit of not bringing money with him. Now that Lu Hui is on vacation, his claws are numb. Jiang Xiaoyang saw this, opened his handbag, and handed over a ten-dollar note.
After getting eight yuan in change.
"Sister, are you a star?" the little girl couldn't help but ask.
“No.”
"You are so beautiful."
"Thank you, you will be very beautiful when you grow up."
The little girl smiled shyly.
“Goodbye, little sister.”
“Goodbye, sister.”
After the two left, Xu Liang smiled and said: "What do you think we will have a daughter in the future?"
"Do you like a daughter?"
"Yes, the daughter is the father's personal child. Cotton jacket."
After looking at him, Jiang Xiaoyang turned his head and looked forward, his tone inexplicable.
“I like my son, and my son is my mother’s guardian angel.”
"Then we will have a son and a daughter."
Xu Liang did not notice the strangeness in the beautiful woman's words beside him.
Having two sons, he now likes his daughter the most.
After returning home, Wang Lingxiang was naturally very happy about Jiang Xiaoyang's visit, and she even agreed to the dinner on the first day of junior high school.
After leaving the two of them chatting in the living room, Xu Liang came to the study room with Hanhua's 2003 financial report brought by Jiang Xiaoyang.
All departments under Hanhua are now very complete.
In addition to the regular service departments such as the administrative office, finance department, compliance department, human resources department, internal audit department, legal department, operations department, industrial management department, and service department.
There are six main business departments.
Global Investment Research Department, Venture Capital Department, Hedge Fund Department, M&A and Reorganization Department and Private Equity Investment Department, as well as various investment departments.
The Global Investment Research Department is mainly responsible for researching the investment market and providing research reports for clients.
Because of Hanhua's reputation and its skyrocketing performance over the years, many government departments and even other financial institutions have purchased some industry research reports from them.
However, in the end, the background is shallow.
The Hanhua Investment Research Department has a small number of staff and the industries it is involved in are also very limited.
Coupled with Jiang Xiaoyang's consistent caution, this department did not generate much revenue, with only 23 million Huaxia coins in 2003.
The venture capital department is mainly divided into three parts.
Angels, VCs and PEs.
The person in charge of the angel round is the ‘Mercury Fund’, which currently has four incubators in Beijing, Shanghai, Pengcheng and Silicon Valley, and also represents four funds.
The three domestic funds are US$30 million, and the US fund is US$50 million.
Because the amount is not large, all the money for Mercury Fund is paid by Hanhua himself, so there is no concept of blockade or withdrawal.
Replenish it as soon as it is spent.
Throughout 2003, Mercury Fund's revenue was considerable with the recovery of the global Internet and technology industries.
The four funds add up to US$74 million.
One fund in Silicon Valley accounted for 60%.
The number of companies hatched by the other four funds exceeded 375. Although there were successes and failures, they generally developed relatively well.
There are five Mars funds that are mainly VCs.
Three are in China and two are in Silicon Valley.
There are three funds that matured in 2003.
Modu Fund No. 3 is in charge of Xu Xin, Pengcheng Fund No. 4 is in charge of Liang Si, and Silicon Valley Fund No. 2 is in charge of Lin Junrui.
Fund No. 2 is the most profitable.
With the development of the Internet, the valuations of Exped Travel, Owl, Zappos, etc. have skyrocketed.
Nineteen companies that once invested US$50 million turned into US$1.3 billion in just two years.
This alone created a gross income of US$650 million for Hanhua.
Pengcheng No. 4 Fund, headed by Liang Si, raised US$130 million and holds 17.5% of Dangdang, 10% of Ctrip, as well as shares of 51job, Zhaopin, Maopu, Rapoo Technology, and Goertek , Wistron, Shanda and many other Internet and technology companies.
Among them, Ctrip was listed in December last year and was the first Internet company under the No. 4 Fund to be listed.
The starting price was US$18 and the closing price was US$33.94, setting a record for the highest opening day increase in Nasdaq in three years.
As Ctrip’s major shareholder, Hanhua enjoyed a lot from Ctrip’s listing.
After cashing out 3.1% of its equity and receiving a return of US$100 million, it still holds nearly 7% of Ctrip’s equity.
Coupled with the appreciation of other investment targets, the entire No. 4 Fund has increased by US$570 million in two years.
Created gross revenue of US$275 million for Hanhua.
Modu Mars No. 3 Fund mainly focuses on catering and the Internet as its main investment directions.
120 million U.S. dollars of capital raised, holding 15% each of Zhen Kung Fu, Kim Hans, and Wallace, 12% of Haidilao, 12.7% of NetEase, 20% of Deqingyuan Egg, Comba Communications, Ice and Snow Honey City, Yonghe King, Auntie Dumplings, Equity interests ranging from 10% to 20% in 27 companies including Quanjude and Donglaishun.
Catering is obviously not as exaggerated as the growth rate of the Internet. Although NetEase is developing well, it will really enter the growth period with the outbreak of "Westward Journey" in 2004.
Therefore, Fund No. 3 has the smallest increase, only US$315 million in two years.
Even so, the three funds combined created net revenue of US$2.185 billion, gross income of US$1.0925 billion, and net income of US$820 million for Hanhua.
Also counting the profits of several other funds, as well as the real bulk of income-the hedge fund department and the private equity department.
In 2003, Hanhua's net revenue was US$52.185 billion, gross income was US$35.7925 billion, and net income was US$16.82 billion.
The funds under management exceeded US$150 billion, and the total assets held exceeded US$230 billion.
Whether it is the scale of funds or the rate of return, it is undoubtedly the number one in the field of hedge funds and private equity.
(End of this chapter)