Chapter 693 M&A Department
“What are you looking at?”
After putting the tea in front of Xu Liang, Jiang Xiaoyang asked.
"Information from the Taishan Society."
Xu Liang handed over the document in his hand.
"I thought it was just an ordinary, self-organized business group, but I didn't expect there was such a big background under the water."
The Taishan Society was initially just a "group of four."
Back then, four private technology testers often crowded into an office to drink tea and chat.
Because of the chaotic environment at that time, everyone communicated with each other and stayed together to keep warm.
And they also learn from each other how to run a business.
After all, in China in the 1980s, there was no such thing as private enterprise.
This largest chamber of commerce in China, known as China's "Skull and Bones Society" at its peak, gradually disappeared.
So, in 1987, under the leadership of the above, the ‘Beijing Private Science and Technology Industrialists Association’ was established.
Under his leadership, entrepreneurs with great influence and good personal relationships in the China Democratic People's Political Consultative Conference formed a small circle - Taishan Industrial Research Association (renamed Taishan Industrial Research Institute in 1998).
The team grew rapidly and became bigger and bigger.
When the small conference room couldn't accommodate it, a large conference was held. Until even the large conference room couldn't accommodate it, the idea of establishing a formal organization began to emerge.
"Business matters must of course be solved by commercial means. But I don't like any of the people at Lenovo's senior management. It doesn't do R&D, so I have no candidates to recruit people." Xu Liangdao.
After that, the organizational form of the Taishan Society became more private, with no branches and internal publications cancelled.
Therefore, a smaller and more effective top-level coterie is needed.
It is also the origin of Taishan Club.
But problems also arise.
The group soon expanded to six, seven, a dozen, or dozens of people.
The stars change and time passes. From north to south, a Mount Tai rises majestically and then falls quietly. This is also the law of the development of things.
But the purpose of the Taishan Society has changed.
Moreover, the influence of this group has also attracted attention from above.
Their leading figures also began to join the group.
Between 1984 and 1987, a number of technology companies grew up, including Lenovo, Founder, Ziguang, etc.
The location is usually set at the office of a certain company.
The four of them agreed to have tea and chat every Saturday night, each talking about their own company.
This unwritten gathering lasted for two or three years. Later, as everyone became busier and busier, they decided to choose a Saturday night every month to have tea and discuss together.
And later.
Jiang Xiaoyang placed the documents he brought in front of Xu Liang.
Within the legal framework, our hands are tied, and the naturally mysterious and powerful Taishan Society must also restrain itself.
With the big brother taking the lead, I also got the gold medal for immunity from death.
Put down the information.
Gradually, with the development of Lenovo, the boss surnamed Liu became more and more powerful and developed into the second generation leader.
"After all, it is also the number one brand in China's IT field. It is impossible for a large enterprise with tens of thousands of people to be without talents." Jiang Xiaoyang said.
Even with the support of the Jiang family, Xu Liang could not do anything to them.
It is an eternal law that things grow old when they are strong.
Because there are too many people, the effect of communication is weakened.
"What are you going to do?"
Since then, more private technology companies across the country have participated in this team, and the name has been changed to "China Private Technology Industrialists Association".
The higher authorities are very dissatisfied with the fact that some companies have detonated the market due to financial problems, and have increased the supervision and management of companies. Even people like Jack Ma and Wang Yiyi Small Target still cannot escape being interviewed.
However, the current Taishan Club is still at the peak of its glory, with strong strength and profound background.
In 2005, the boss passed away and Taishan Industrial Research Institute, which lost its core figure, was renamed Taishan Society.
Taishan will be too powerful, so naturally there will be times when the sun sets.
The first generation’s eyesight is no worse than that of the Jiang family.
There is a willow on the top of Mount Tai, and the comprador also asks for flowers deep in the hall.
The first secretary-general of the association was a second-generation red boss named Hua.
This year the leading brother retired.
Xu Liang nodded, "Let Lei Jun have the headache. Kunlun Computer, which he is responsible for, has been developing well during this period and needs some middle-level talents who are familiar with computer manufacturing and design."
This small circle changed in 1993 become reality.
"The Atlantic Fund Fund No. 1 and the Indian Ocean Fund will expire in two months. This is my next fund-raising plan."
The Atlantic Fund and the Indian Ocean Fund They are two internal M&A funds of Hanhua.
The former manages two funds.
Fund No. 1 manages US$300 million and has invested in the Premier League Manchester United and the NBA Warriors.
Xu Liang did not interfere too much in the management of Manchester United and completely let Sir Alex go, so his results are not much different from his previous life.
The Warriors are different.
Relying on Yao Ming, Eric Dampier, Wang Zhizhi, Ben, Boozer, Jason Richardson, Chris Bowen, Arenas, Wade, Bill Pus and Derek Fisher.
Neither the main player nor the substitutes have obvious shortcomings.
After two seasons of training in 01~02, 02~03, and finally won the championship in the 03~04 season.
The team’s revenue skyrocketed. The valuation has also doubled.
Fund No. 2 manages US$2 billion in assets, but currently it only has two assets.
One piece is Marvel.
The other piece is Hansen Company, the manufacturer of the famous ‘Monster Beverage’.
But the latter is far from as famous as he later became.
However, compared with Fund No. 1, which is about to expire, Atlantic Fund No. 2 will not mature until June 2005.
Indian Ocean Fund is the China Coin Fund of the M&A department.
With $500 million under management.
At present, the number of mergers and acquisitions of companies has exceeded 27.
But most of them have been acquired and integrated.
Finally there are three left.
First, Nanfu Battery, with the support of Xu Liang, has increased its research and development of power batteries and materials on the basis of continuing to consolidate and develop alkaline batteries.
Nanfu Battery invests 15% of its annual revenue in research and development.
It is already an important supplier of lithium batteries for mobile phones.
The annual revenue exceeds 1.5 billion, and the net profit exceeds 200 million Chinese dollars.
The second one is Kelong Supermarket.
From the original Suguo Supermarket, in the past three years, it has annexed 7 large and small supermarket chains, including Jingkelong, Supermarket Fa, Jiashijia, and Jialejia.
Including independent expansion, it currently has 246 hypermarkets, 452 supermarkets, and more than 5,700 brand-authorized chain stores.
Kelong Supermarket's brand licensing fees are very low.
Mainly make money through logistics supply.
Kelong Supermarket purchases materials on a large scale, lowers the purchase price, and then supplies them to its brand authorized stores at market prices.
Earn the price difference through middlemen and make huge profits.
Because of low fees, abundant logistics, and affordable prices, Kelong Supermarket's brand authorized stores have developed rapidly.
The third is Tuopai Liquor Industry.
From the beginning of Tuopai Qujiu, it later successively acquired sixteen liquor companies, large and small, including Kongfuyan, Kongfujia, Yunmenchun, and Jingyanggang.
Output also exceeded 40,000 tons.
In terms of liquor, its influence ranks fifth after Moutai, Wuliangye, Yanghe and Luzhou Laojiao.
In addition to liquor, the beer industry is also the focus of the expansion of Tuopai Liquor Industry.
After acquiring Zhejiang Shiliang Liquor Co., Ltd. for US$53.2 million, it continued to acquire Harbin Beer and Malaysian Golden Lion Beer. In the first half of this year, it acquired three Australian Lion Beer breweries in China.
The current beer output of Tuopai Liquor Industry has exceeded 3 million tons, which is equivalent to Yanjing Beer.
Second only to Snow Beer, which has 36 breweries across the country and produces 5.6 million tons, and Qilu’s local Daocheng Beer.
Basically, most of the Indian Ocean Fund's funds have been invested in the expansion of Kelong Supermarket and Tuopai.
The initial capital is US$500 million, the leverage has been increased to 3 times, using US$1.5 billion, assets of 31.4 billion Huaxia coins (liability 40%).
In two years, the assets under both funds have increased at least three times.
"Atlantic 1 Fund raises US$2 billion. While taking over the Warriors and Manchester United, it can use at least US$1.5 billion to continue investing.
Arctic Ocean Fund raises US$1.5 billion US dollars, while taking over the original assets, you can also invest half of the cash flow," Jiang Xiaoyang said.
Of course, Manchester United and the Warriors are definitely worth more than 500 million U.S. dollars, and Kelong Supermarket, Tuopai, and Nanfu Battery are also worth more than 750 million U.S. dollars.
It contains some levers.
Xu Liang put down the information in his hand.
"Xiaoyang, I plan to cancel the Indian Ocean and Arctic Ocean funds. Transfer the assets of the two funds to Jupiter Fund."
"Cancel, why?"
" Due to financial constraints, the M&A department has developed too slowly.
The two Arctic Ocean funds only have four businesses. We want to do something bigger, but due to the background of Huaxia Company and the lack of funds, it is difficult to implement it.
The Indian Ocean Fund, although developing rapidly, is still not fast enough.
Especially in recent years, both the supermarket industry and the wine industry have entered a period of consolidation.
Without strong capital support, it is difficult to beat the crowd.
This is one of them.
Second, Hanhua is on the verge of transformation and its business needs to be adjusted. While continuing to consolidate strong asset management businesses such as venture capital, hedging, and private equity, securities and trusts will become the focus of the company's next development.
Mergers, acquisitions and reorganization will become a business department under the securities department and will no longer be responsible for direct external investment.
Third, Jupiter Fund has so much cash lying in its account, it is really a waste to only buy treasury bonds. ”
After the end of 2003, Jupiter Fund had a cash balance of US$22.7 billion on its account, although it cost some money to take over the shares of Mengniu, Supor and Gree from its subsidiaries.
At the same time, it also US$2.4 billion was invested in precious metals, jewelry raw materials, art and high-end red wine, but there was still US$20 billion unspent.
This money is in the form of treasury bonds and deposits, and is placed in the accounts of major banks around the world such as ICBC, Standard Chartered, and HSBC.
Although the interest was not high, within one year, the amount increased to US$21.7 billion.
If you include the equity interests of Penguin, Alibaba, Netflix, Ctrip, NetEase, Mengniu, Supor and other companies, as well as assets such as artworks and precious metals.
The total assets of Jupiter Fund exceeded US$25.4 billion.
(End of this chapter)