Chapter 310 Operation

Chapter 310 Operation

Chapter 310 Operation
Bai Xiaosheng was officially listed on the Nasdaq in the United States with the stock code BAX, and publicly issued 1416 million American Depositary Shares (ADS) at a price of US$11.00 per share.

The opening price on the first day was US$12.3, a slight increase of 11.8% from the issue price. The market value exceeded US$9 million, which is more than 60 billion in Chinese currency.

Although the value of the stocks in their hands could not be realized immediately, Song Yufeng, Zhong Zhiling, Liu Hao and others who were present, as well as all the employees who were closely following the company's listing in China, were all excited.

In particular, Chairman Song Yufeng, as a shareholder when the company was founded, invested 2008 yuan in October 10, holding 12% of the shares at that time. It was diluted to 6.82% before the IPO, and now it is 3.5355% after the successful listing.

Based on the market value of US$9 million, the book value of this part is US$2545.56 million!
Song Yufeng had secretly calculated the wealth in his hands recently, but it was only when he saw the share price of BAX on the Nasdaq that he truly felt its existence.

How can you be so virtuous!

It was just that Mr. Yu recorded a voice message, he stabbed his boss in the back, he had no girlfriend, his arm was broken, and he was beaten up... that's all!

More than 25 million US dollars!

Let’s not talk about these. Even if it’s just a small fraction, there will definitely be a lot of people willing to stand in front of Mr. Yu!
When Song Yufeng thought of this, the tears he had been forcing back suddenly turned into tears of true love.

He looked at Zhong Zhiling who had wiped his tears and said with emotion: "When one person succeeds, the whole family will benefit. When the whole family succeeds, wealth will be free! Mr. Zhong, how are you going to spend this money?"

Bai Xiaosheng's financing history before its IPO was very clear. The angel round introduced individual investor Liu Wanying, the A round was from Red Falcon Capital, the B round was from IDG, Today Capital, and Qiming Venture Partners, and the C round was still invested by these three companies.

According to the original plan, Bai Xiaosheng would have continued to raise another round of financing, but firstly, the environment for overseas listings was changing, and secondly, Bai Xiaosheng received financial returns from the incubation of WeChat, so it went public ahead of schedule.

Song Yufeng knew that Zhong Zhiling and Lu Haiying now held a total of 10.1816% of the shares, and according to the current market conditions, its value exceeded 9000 million US dollars, which was more than three times his own!

"Listen to Brother Xing." Zhong Zhiling said this, and then thought about it and added, "Let's buy a house in Shanghai first. It seems that there is not much else to spend. I want to see what Brother Xing suggests. I think the company's stock price will rise in the future."

Bai Xiaosheng’s IPO performance was not very good. It was still making losses last year due to promotion. Its performance in the first two quarters of this year was very outstanding.

If the company's development strategy is correct, then it will undoubtedly continue to push up its performance and thus obtain a higher stock price accordingly.

Seeing Zhong Zhiling so calm, Song Yufeng felt ashamed. He turned to look at his boss who was being interviewed by the Wall Street Journal and said enviously, "Boss Yu is the best. Damn, let's do the math now. After selling Bai Xiaosheng's WeChat shares, he doesn't need to raise funds again, and his shares don't need to be diluted in the D round. If he goes public now, his money will double again!"

When WeChat was sold, the shares held by Bai Xiaosheng were worth more than 2300 million US dollars. Therefore, all the shares that were avoided from dilution have been reflected in the listing value today. Moreover, if Bai Xiaosheng continues to perform better and better, the value of this part is likely to increase several times.

Zhong Zhiling nodded, and suddenly imagined: "Brother Xing holds 24% of the shares. Maybe he can enter the Forbes rich list after this listing!"

As a major shareholder, Yu Xing's shareholding is naturally transparent. His current 24.32% stake is worth approximately US$2.2 million. Combined with the funds from the previous sale of WeChat, the total after tax exceeds US$3.6 million.

Song Yufeng smiled and said, "I can't get in."

Zhong Zhiling looked at Song Yufeng in surprise.

Song Yufeng said: "I checked when I couldn't sleep at night. Mr. Yu's money doesn't even make it into the top 200 in China. The threshold for the top 200 on this year's rich list is $10 billion!"

Zhong Zhiling had no idea about this information and guessed, "Then there should be 400 people."

"Don't even mention 400th place. The threshold for 500th place is now over 30 billion Chinese Yuan." Song Yufeng couldn't remember the exact number. "Mr. Yu is still a long way from 500th place, but if the company's market value continues to rise, he might be able to make it into the top 500 in two years."

Zhong Zhiling was stunned for a moment, then smacked his lips and said, "There are so many rich people...!"

Song Yufeng sighed: "Yes, who said it wasn't! The boss still needs to work harder!"

Zhong Zhiling looked at his senior brother who was being interviewed, and from his serious expression he felt that he was working hard.

However, unlike what Zhong Zhiling imagined, Yu Xing's serious expression when facing the reporters at this moment did not show the demeanor of the founder of Bai Xiaosheng, but gave people the illusion that he was being interviewed as the boss of a mountain.

The Wall Street Journal is extremely famous.

However, Yu Xing only talked about Bai Xiaosheng in the first question, introducing Bai Xiaosheng as "China's leading workplace platform that is redefining the concept of workplace social networking in China."

Then, the problem he faced became the fraud of Chinese stocks listed in the US.

Due to various issues this year, the number of domestic companies going public in the United States has dropped sharply, and in August, four companies turned to Germany for listing.

Yu Xing was asked how he saw the frequent short selling of Chinese concept stocks...

He listened to Xiaoying's meaningful translation and looked at the sharp eyes of the reporter. He felt that it was quite absurd and had the illusion that his identity was exposed.

"Rather than saying it's a fraud problem of Chinese concept stocks, it's more like a fraud problem of some companies pursuing profits. This is not unique to Chinese concept stocks. Just like the 'female Steve Jobs' you called 'bad blood', the equipment she used to test her blood was ridiculous. By the way, I studied medicine, so I pay more attention to and understand this aspect."

After Guo Shanfeng talked about the fraud of Theranos, the blood testing company founded by Holmes, in a giveaway manner, the halo created for her by the media quickly collapsed. One after another, former and current employees came forward to accuse her of problems, and the company was also investigated.

Although there is still no final conclusion on the procedure, the fact of fraud is certain.

"If you take a look at the examples of counterfeiting, the absolute number of counterfeiters in Europe and the United States is greater, so I don't think this is a regional issue. I think it's just 'fakes should be exposed and criticized', that's it."

Yu Xing noticed the look in Xiaoying's eyes when she was translating. Well, that look was very obvious, she was looking at President Shanfeng.

"What do you think about the issue of audit working papers?" The reporter raised another tricky question.

Yu Xing was very cautious after thinking about it this time: "I believe this problem will be properly solved in the end. For me, all I need to think about is how to make Bai Xiaosheng an excellent company worthy of the market, shareholders and employees."

He tried to get the question back to Bai Xiaosheng.

However, the reporters recently caught a listed company from China with great difficulty and were unwilling to let him go easily, so they simply questioned him as if he were the "Chinese representative."

Yu Xing racked his brains and tried his best to give an appropriate answer that fits his identity.

He finally made it to the end, but as soon as the reporter's question came out, his heart skipped a beat.

"What do you think of short sellers like Guo Shanfeng? Do you think Guo Shanfeng would be interested in Bai Xiaosheng? How do you understand its short-selling philosophy of 'cheating eternity'?"

Yu Xing couldn't help but ask Xiaoying, who was acting as the temporary translator: "Did you translate it correctly?"

Liu Wanying nodded seriously: "That's what he asked."

Yu Xing's complaint still fits his current status, but it is absolutely sincere: "It's like going over a mountain to go public..."

He pondered for a moment and gave his thoughts: "I don't know if 'Cheating Forever' can be considered a short-selling philosophy. So far, it seems that the contents of its research report have been confirmed. I can only say that its research capabilities are indeed very strong. I don't care whether Guoshanfeng will be interested in Bai Xiaosheng. This may also be the mentality of all normally operating companies."

Yu Xing shrugged and finally expressed his attitude in English: "Who cares?"

It's just crossing a mountain, who cares?

After listening to Liu Wanying's translation, the reporter ended the interview, reached out and shook hands with the young BOSS of a listed company from China, expressed his congratulations, and said a few more words before turning around and leaving.

"What did he say last?" Yu Xing asked Xiaoying with a smile on her face.

Liu Wanying couldn't help but smile a little strangely, and replied: "His two sentences were personal thanks, and he himself felt that he asked some questions that were beyond the normal scope. After all, we are here to go public, not to go public."

Yu Xing and Xiaoying looked at each other, and everything was said without words.

"Hey, this is Nasdaq. I used to just see the numbers jumping on the screen, but today I'm here in person." Liu Wanying looked around the exchange and felt a little regretful. "It's a pity, it would have been nice to have a fireworks display today, so I could have seen the stock price jump with my own eyes." Xiong Xiaoge saw the end of the interview and heard half of the conversation when he came over. He smiled and said, "You can set off as many fireworks as you want tonight. Bai Xiaosheng's listing performance is good, so we'll definitely enjoy this celebration banquet."

Although the performance on the first day of listing has not yet ended, at least it is rising now.

Xiong Xiaoge originally had the psychological expectation that the stock price would fall below the IPO price, so he felt that Bai Xiaosheng had performed very well despite the frequent doubts about Chinese stocks listed in the US.

Yu Xing looked at Mr. Xiong with a smile. These fireworks were not the same as those others.

He put his arm around Mr. Xiong's shoulders and promised, "Mr. Xiong, now that you have money at IDG, please invest more in my electric car. I will bring you here to list next time."

Xiong Xiaoge laughed after hearing this: "Okay, okay, I'm honored. I'm honored to be brought here by Mr. Yu. This really opened my eyes."

Yu Xing was rarely relaxed: "Of course!"

He looked around the Nasdaq Stock Exchange again, his expression somewhat subtle.

"What is Mr. Yu thinking about?" Xu Xin walked over and happened to see Yu Xing's expression.

Yu Xing shook his head and said with a smile: "Four words."

Xu Xin listened attentively.

Yu Xing said four words: "I won't tell you."

Xu Xin had successfully listed a project on behalf of Today Capital today. He just sneered when he heard this. His mood was not affected at all and he did not care about Yu Xing.

The group completed the listing procedures and walked out of the exchange together.

Liu Wanying finally turned around to glance at this world-leading exchange and suspected that the four words that Boss Yu meant were - rivers of blood.

……

Bai Xiaosheng was successfully listed, once again creating a large number of millionaires.

Although it did not distribute options as aggressively as WeChat, the option pool of Bai Xiaosheng was still distributed entirely to employees when it was first established, and the value of this part exceeded 2.5 million Chinese yuan.

And, it has great growth potential!
This is incomparable to the shares of WeChat company.

What will be the future development of Bai Xiaosheng?
Judging from the response in Q1 and Q2, it will still have a very good growth in the foreseeable future.

Reporters from several media outlets were unable to interview Yu Xing, who was far away in New York, so they called Bai Xiaosheng Company and successfully interviewed the delighted employees, sharing their excitement with envy.

2011 has not ended yet. First WeChat and then Bai Xiaosheng, the two companies have distributed more than 5 million Chinese yuan to their employees alone... It is truly astonishing.

In particular, the former has created the most intense competitive confrontation among Internet giants to date. Alibaba's WeChat and Penguin's Micro Chat are still in an inseparable fight, and the battle between the two companies is no longer limited to the field of instant messaging.

As for the latter, its successful listing undoubtedly once again verified the industry's praise for Yu Xing with facts.

——Your operation is like Yu Xing.

It took Bai Xiaosheng nearly three years from its establishment to its listing, which is already quite fast. One project used by the media to illustrate the speed is Li Song's Zhenai.com.

Zhenai.com was founded in 2005, and it has been 6 years since then, but it is still a long way from going public.

What makes people feel even more complicated is that it was Li Song of Zhenai.com who paid to acquire Yu Xing's first entrepreneurial project, Guiai.com, which provided the starting capital for Bai Xiaosheng, and his wife invested in Yu Xing's projects many times.

With such a relationship...Li Songdu received interviews from the media.

He was helpless: "I, what can I say? I don't have much to say, I can only say congratulations to Yu Xing and his Bai Xiaosheng."

The reporter asked on the phone: "Don't you want to congratulate Mr. Xu and Capital Today?"

Li Song resisted the urge to sigh: "Congratulations too."

The reporter continued to ask: "Mr. Li, what do you think of Mr. Xu's willingness to invest in the newly established Bai Xiaosheng instead of your company?"

Li Song reluctantly replied jokingly: "Watch carefully."

He quickly ended the call, put down his phone, and bent down to pick up the pieces of his heart that had been broken on the ground.

On the fifth floor of Shuohe International, the "Tongle" company founded by Zhai Yifei, who came from Baidu, is stationed here and also feels the joy of the successful listing of the company upstairs.

But, other people’s happiness is ultimately theirs.

As a mobile Internet software focusing on the common hobbies of netizens, Tongle App now has to admit that it has not achieved the ideal success.

Zhai Yifei was a little depressed, especially when compared with Mr. Yu's continuous success, he began to doubt himself even more.

Maybe, I am not suitable for starting a business at all, maybe, I should return to a big company.

As it was getting close to getting off work, the frustrated Zhai Yifei suddenly received a call from Mr. Yu. He was surprised that he would call him at this time in the early hours of the morning.

Zhai Yifei congratulated Mr. Yu on the successful listing.

Yu Xing said "hmm" twice, without any greetings, and directly mentioned the users and content of the app that he had been thinking about recently. He believed that Zhai Yifei should abandon the interest-oriented software "Tongle" and that more aggressive promotion methods should be adopted.

"Mr. Zhai, let's learn from Penguin's investment, but there need to be more changes. The ultimate goal is to divert users. Users and content are sometimes one and the same," said Yu Xing.

Zhai Yifei pondered and said, "Mr. Yu, let me think about it again and consider a wider range of adaptability."

"Okay, you think. In addition, you and Zhang Yangxu will go to the company 'Weather Channel' to discuss how to divert users." Yu Xing gave a specific direction. "Hongshun invested in this company two months ago. Its app has a lot of downloads now, but there are many similar companies on the market."

Zhai Yifei was stunned: "Uh, that, tomorrow, diversion... Uh, I will first think about how to change 'Tongle', and then divert the traffic."

"No, don't think about it first and then do it. Just modify it as you go along." Yu Xing's voice became more serious. "Try more. Don't be stubborn. Attract users first. Anyway, the software you have now is not useless garbage."

Zhai Yifei: “…”

Yu Xing finally waited for two seconds and said, "Okay, I don't object. That's it. We'll talk about it in detail when we get back."

The call ended.

Zhai Yifei put down his phone, feeling the tough style of Mr. Yu towards "Weather Communication" and his dissatisfaction and drive towards his own project...

Well, after all, the company went public, and the boss after going public is different.

After a brief thought, Zhai Yifei was not unhappy and decided to do as Mr. Yu said. Since his operation was not as good as Yu Xing's, he could try more.

(End of this chapter)