Chapter 790: Helping the Distressed ‘Big Cousin’
A person who has worked in a bank for many years and has successfully started a business is undoubtedly a shrewd businessman.
Faced with my cousin who came to borrow money.
According to normal thinking, even if you help, you will only be given a hundred or eighty thousand at most to cope with it.
After all, it’s a ‘cousin’, not a relationship.
Not related by blood.
And Lao Wang is still a person with no entrepreneurial experience, so the probability of failure is very high.
But Lao Wang’s ‘succubus’ attribute blossomed.
After a lot of preaching, Lu Xiangyang decided to use his family wealth, a total of 2.5 million, to accompany his cousin to be brave.
In 1995, what was the concept of 2.5 million?
The average salary at that time was only 200 yuan.
A pound of pork only costs two yuan, and a gram of gold only costs 140.
In other words, 2.5 million is equivalent to 100 million thirty years later.
If you ask others to give you 100 million to start a business with empty words, even your biological father will have to investigate carefully.
Of course, some people say that VC is an exception.
But what VCs spend is not their own money, it is money raised from others.
Tian doesn’t feel bad for selling his son.
Seeing this, Xu Liang was impressed.
What he admired was not only that Lao Wang had taken care of his wealthy cousin, but more importantly, that he had actually been able to take care of his wealthy cousin's wife?
How much does it take to make a woman pay, or a huge sum of 2.5 million?
Xu Liang put himself in his shoes and thought that he himself was not capable of this.
After attracting investors, Lao Wang’s entrepreneurial dream came to fruition.
On February 10, 1995, a company called 'BYAT Industrial' was registered and established in Pengcheng City Industrial and Commercial Bureau.
The company is a limited liability company with a registered capital of 4.5 million yuan when established.
All shareholders contribute capital in cash.
But BYD's major shareholder is not his cousin, but a big guy called Pengcheng Metallurgical and Mining United Company.
It invested 2.9 million yuan with its own funds, accounting for 64.40% of the registered capital, and is also the controlling shareholder.
This big BOSS is jointly founded by many mining companies such as Anshan Iron and Steel Mining, Panzhi/Hua Metallurgy, Liao/Ning Coal Mine, Jinling Baiyunshan Mine, Baotou Iron and Steel, Xiang/Tan Manganese Mine and other mining companies.
Tsk, tsk, Lao Wang’s ability to attract investment is really incredible.
This kind of giant can pull over.
Awesome.
Next, Yangcheng Tianxin Science and Technology Industrial Co., Ltd. invested 1.4 million yuan with its own funds, accounting for 31.1% of the registered capital, and is the second boss.
Pengcheng Lidas Trading Co., Ltd. invested 200,000 yuan with its own funds, accounting for 4.5% of the registered capital, and is the third junior brother.
Someone wants to ask, where is Lao Wang?
This is the time to take a closer look at the company 'Yangcheng Tianxin Science and Technology Industry'.
It has five shareholders.
'Big Cousin' Lu Xiangyang and 'Generous Cousin' Zhang Changhong invested a total of 2.5 million yuan, accounting for 83.34% of the shares. Wang Chuanfu invested 300,000 yuan, accounting for 10% of the shares; Wang Yu and Lu Shouguo invested respectively 100,000 yuan, each accounting for 3.33%.
In other words, this 'Yangcheng Tianxin Science and Trade Industrial' company is actually an investment company jointly established by two relatives, Lu and Wang.
Remember, we have to take the test next.
In 1997, Pengcheng Metallurgical and Mining United Company, based on the needs of its own business development and adjustment, intended to withdraw from BYAT Industrial.
This joint company invested 2.9 million yuan, but was finally transferred to Yangcheng Rongjie Company, Wang Chuanfu and Xia Zuoquan for 3.02 million yuan.
Among them, Yangcheng Rongjie received 34% of the equity, Wang Chuanfu received 20% of the equity, and Xia Zuoquan received 10% of the equity.
Lv Xiangyang and his wife are the actual shareholders of Yangcheng Rongjie.
In other words, the 'eldest cousin' couple jumped out of Yangcheng Tianxin Technology and Trade and held shares in BYD themselves.
As for Xia Zuoquan, he is a new investor and one of Wang Chuanfu’s earliest angel investors.
And he was firmly optimistic about Lao Wang and never gave up. After BYD reached the top, he also gained a net worth of tens of billions.
That sentence is accurate.
Choice is greater than effort.
Since then, Wang Chuanfu and Xia Zuoquan of Yangcheng Rongjie, Yangcheng Tianxin Technology and Trading, and Pengcheng Lidas Trading have become the actual shareholders of BYD Industrial.
Hold 34%, 31.1%, 20% and 10% respectively.
Since the major shareholders of Pengcheng Lidas Trading are the ‘Big Cousin’ couple, the actual controller of BYD at this time is the Big Cousin.
And it occupies nearly 70% of the equity, completely replacing the original 'Pengcheng Metallurgical and Mining United Company'.
Seeing this, Xu Liang had to sigh.
Human life is destined.
Pengcheng Metallurgy is also unlucky.
Jin Yuanbao fell into his arms and he couldn't catch it.
Look at Lao Xia, he dug a big hole with a shovel.
In order to expand the R&D and production of nickel batteries and lithium batteries and supplement BYAT's liquidity.
BYAT shareholders decided to increase capital.
From 4.5 million at the beginning, it increased to 30 million.
Among them, Yangcheng Rongjie increased its capital by RMB 18.1 million, accounting for 60.33% of the shares;
Lao Wang increased its capital by RMB 7.3 million, accounting for 24.33% of the shares;
Xia Zuoquan increased its capital by RMB 3 million, but maintained its 10% stake;
Yangcheng Tianxin Technology and Trade Industrial increased its capital by RMB 1.4 million, diluting its equity to 4.67%.
Pengcheng Lidas Trading Co., Ltd. increased its capital by RMB 200,000, diluting its equity to 0.67%.
By 1999, Yangcheng Rongjie and Yangcheng Tianxin Technology and Trade Industrial Co., Ltd., based on their own business positioning considerations, also considered Lao Wang's contribution to BYAT Industrial.
Rongjie decided to transfer 10.33% of BYAT Industrial held by it to Lao Wang at a price of 4.85 million yuan.
Yangcheng Tianxin Technology and Trade also decided to transfer its 4.67% stake to Lao Wang at a price of 2.163 million.
It needs to be emphasized here that Yangcheng Tianxin Technology and Trade, which transferred all its equity, has officially withdrawn from the list of BYAT shareholders.
Of the three giants when the company was founded, only Pengcheng Lidas remained.
The eldest cousin wants to sell his BYD shares to his cousin.
But after all the money in his hand was used to increase the capital of BYD, Lao Wang is now so poor that he is living in poverty.
Where can I find the money to acquire equity?
What to do? The eldest cousin slapped his chest, so proud.
"No, it doesn't matter. I'll lend it to you first."
That's what the eldest cousin said, and he did the same.
In other words, Lu Xiangyang, BYAT's major shareholder, used his own money to sell BYAT's equity to his cousin Wang Chuanfu.
Seeing this, Xu Liang could only say.
Cousin like this, give me a dozen.
But what he admired even more was Zhang Changhong.
My husband gave me both money and equity, but there was no fuss?
It can be seen that he is also a smart person.
But.
This is not the end.
Pengcheng Lidas Trading Co., Ltd. reached a verbal agreement with Lao Wang in 1999.
It is agreed that Pengcheng City Lidas Trading Co., Ltd. will transfer all the equity it holds in BYD Industrial and the income that may arise from the equity to Wang Chuanfu.
Liu Jun and Li Jinrong, shareholders of ‘Lidas Trading’, decided to give the 466,700 shares of BYAT they held after the capital increase to Wang Chuanfu free of charge.
This operation is very confusing.
Lao Lu is still his eldest cousin after all, and the two parties are related.
These two are friends to the death.
Giving money for no reason, if there was no private transaction, then Lao Wang's charm would be incredible.
What is this?
Modern Song and Gongming?
Or Pengcheng’s ‘Uncle Liu Huang’?
You must know that at this time, BYD already has more than 800 million in revenue, and its valuation is over 100 million.
Oh, I can’t figure it out.
However, this is not the end.
In 2001, Lidas trading operation went bankrupt and liquidated, and finally transferred its 0.2% stake in BYAT Industrial to Wang Chuanfu for 200,000 yuan.
200,000!
Say important things three times.
At this time, BYD's revenue has exceeded 1.2 billion, and its valuation must be more than 100 million Chinese dollars.
0.2% of the equity is sold for 200,000, which is totally a cabbage price.
Lao Wang made a lot of money.
After the completion of this transfer, BYD’s actual equity structure became Yangcheng Rongjie, Wang Chuanfu and Xia Zuoquan.
The three parties hold 50%, 40% and 10% of BYAT's equity respectively.
In 2002, BYAT was preparing to go public.
In order to secure the company’s core employees, Yangcheng Rongjie transferred approximately 23.55% of its shares in BYAT Industrial to 38 core employees including Wang Chuanfu at a price of 1 yuan per share. These are original shares.
After the transfer was completed, Wang Chuanfu became the largest shareholder with 38.505%.
Lu Xiangyang is the second largest shareholder with 16.142%, Yangcheng Rongjie is the third largest shareholder with 11.487%, Xia Zuoquan is the fourth largest shareholder with 8.433%, and management shareholders are 22.622%.
How to say it.
One word.
Cow!
Two words.
Awesome!
Five words.
How awesome!
Lao Wang is so charming that he kills both men and women!
Generally, a company will set up an option pool to reward core employees, which will be shared equally among the company's major shareholders.
As a result, the largest shareholder took over the equity in the option pool.
Lao Lu and his wife said to Lao Wang, this is not his cousin, this is his biological son.
No.
My own son is not so generous either.
Simply.
After completing the internal equity allocation, BYAT was listed in Xiangjiang in 2002.
A total of 149.5 million shares with a par value of 1 Chinese currency per share were issued to foreign investors.
As a technology stock, BYAT is quite popular in the Hong Kong stock market, so it issued an additional 19.5 million shares.
The stock abbreviation is 'BYAT Shares', the code is '01211', the issuance price is HK$10.95 per share, raising HK$1.741 billion, and the market value is HK$5.7 billion.
After listing, BYAT's total share capital is 539.5 million shares, of which the promoters hold 380.5 million shares, accounting for 70.53% of the total share capital, and foreign investors hold 159 million shares, accounting for 29.47% of the total share capital.
At this time, Lao Wang still held 26.95% of BYAT’s shares.
Still the largest individual shareholder of BYD.
BYATi developed rapidly. By 2003, its market value had exceeded 10 billion Hong Kong dollars.
But at this moment, Lao Wang announced that we were going to build a car.
The feedback from investors and investment institutions on this news is very real and direct.
What do you, a bad battery maker, know about building a car?
How about playing?
We won’t accompany you.
BYAT's stock price collapsed after Lao Wang spent 200 million to acquire 77% of Qinchuan Automobile's shares.
Overnight, the market value dropped from a tens of billions giant at its peak to HK$7.54 billion, a loss of one-fifth.
Overwhelming opposition filled BYD.
Not only shareholders are opposed, but even the people in the company don't understand why Lao Wang doesn't make good batteries and has to take risks to play with cars?
Although the resistance is huge.
But Lao Wang is a man who poops in the pit with his face facing outward.
Nine oxen can’t bring back the decision.
Under his tough decision-making, Biati entered the field of automobile manufacturing.
Hanhua's private equity fund acquired BYAT's equity at this time.
From 2003 to the present, Qinglong No. 9 Fund and Xuanwu Hong Kong Fund hold a total of 14.98% of BYD’s equity.
Occupies half of BYAT’s outstanding shares.
(End of this chapter)