Tolerate!

Yu Anzhi warned himself not to fall into Lin Baiyao's tricks.

With so many people in front of Zheng Jingping, he lost his demeanor and had a bad impression, and there was no possibility of a comeback.

Thirty years in Hedong, thirty years in Hexi. A few days ago, when it was still Mo Ran, he advised Lin Bai to stop taking medicine and use it patiently, but now it has become a fish and must be patient.

There is no such thing as easy in the adult world. You have to eat the shit you deserve with a smile.

Yu Anzhi breathed out slowly, with a twisted smile on his handsome face, and said: "Don't be too proud, we haven't decided who will win..."

"oh?"

Lin Baiyao asked curiously: "I have signed the contract of intention with Mr. Zheng. Do you think Mr. Zheng's words don't count? Or do you think you have a big face and everyone has to give Mr. Xiaoyu face?"

"What?"

Yu Anzhi suddenly changed color, and without bothering to compete with Lin Baiyao anymore, he hurriedly walked towards Zheng Jingping and Mo Yizhong.

Lin Baiyao turned around and waved, saying: "Mr. Zheng, you greet the guests, I'll take the first step, and we'll have a good chat tomorrow when we officially sign the contract."

"Okay! Mr. Lin, walk slowly, see you tomorrow."

Zheng Jingping was from Saibei and was not playing tricks. He watched Lin Baiyao and his party leave and invited Mo Yizhong and others to come into the house.

Yu Anzhi couldn't wait to ask: "Mr. Zheng, Hewang Capital is very sincere in investing in Mengniu. I hope you can listen to our conditions and don't make a hasty decision."

Mo Yizhong has been paying attention to the movements of Yu Anzhi and Lin Baiyao, fearing that he would be impulsive and ruin the overall situation. Fortunately, he did not lose control, which can be regarded as a great progress.

Hearing his urgent tone, he knew what news he had gotten from Lin Baiyao, and his face changed slightly, and he said: "Mr. Zheng, have you reached an investment agreement with Chef Lin?"

Zheng Jingping smiled and said: "Yes, you two came a step late. You can only wait for the opportunity to cooperate again in the future..."

Yu Anzhi was really unbelievable. Why did Lin Baiyao convince Zheng Jingping?

Because it is an initial round of financing, it is destined not to accept too many investment institutions.

But even if it wasn't Hewang Capital, Lin Baiyao didn't have an overwhelming advantage compared to other institutions. How could it be possible to reach a consensus in such a short period of time?

Just as he was about to speak, Mo Yizhong interrupted and said: "Mr. Zheng, I admit that Hewang Capital has encountered a little trouble recently, but I can assure you that the rumors are just rumors and the court will give a fair judgment.

If you really have concerns, can you wait until the verdict comes out before deciding on a partner? We are really sincere..."

"Yes, Mr. Zheng, no matter what conditions Lin Baiyao gives, we can add 30% of the investment amount on top of his, and the equity requirements remain unchanged..."

Yu Anzhi still adheres to the foreign rules. In business, it is true that the core of bidding is that whoever gives more money and wants less equity will have the advantage.

However, this is China, and investment involves not only money, but also human connections.

Zheng Jingping was able to counterattack from an ordinary bottle washer to vice president in Yili because of his marketing ability and charisma.

Mengniu was founded by a group of old subordinates who resigned after him and raised money. Although the registered capital was only one million, with no milk source, no factory, no market, and nothing, they still left their future without hesitation and followed it through life and death.

For such a person, if you use a price increase to challenge his credibility, you are really narrowing the road.

Mo Yizhong didn't help smooth things over, he just stared at Zheng Jingping and observed the changes in his expression.

Again, given Zheng Jingping's character, since he had reached an investment intention with Lin Baiyao, it would be very difficult to make him regret it, so there was no harm in letting Yu Anzhi give it a try in his own way.

No matter how bad it is, can it be worse than it is now?

Zheng Jingping was indeed displeased and said: "Mr. Xiaoyu, who do you think I am, Old Zheng? I have a crush on Mr. Lin, and our short-term goals and long-term plans for Mengniu are the same. Making him a friend is more important than how much money we raise."

Mo Yizhong immediately made a judgment that it was impossible to kick Lin Baiyao out, so he could only follow the investment.

If both parties can enter the first round of financing of Mengniu, and declare to the outside world, there will still be no winner.

"Mr. Zheng, let's do this. Hewang Capital agrees to follow up on the investment based on the post-investment valuation you negotiated. The proportion is between 15% and 20%, which can be discussed..."

Zheng Jingping smiled and said: "Mr. Mo, I'm not refuting your face. Yin Chan Venture Capital and Lin Xiaochu jointly invested US$20 million, accounting for 49% of the shares. We really don't need other investment institutions..."

"What?"

Yu Anzhi was so shocked that he couldn't speak. He and Mo Yizhong looked at each other in disbelief at the number they heard.

$20 million?

Nearly 200 million yuan invested in a newly established dairy company?

Highly valued Internet technology companies don’t receive such outrageous treatment in angel rounds, right?

Hewang Capital invested in Mengniu because it saw Zheng Jingping's ability and the huge dividends in the dairy market. But in the face of the giant Yili, can Mengniu survive, grow stronger, and obtain returns?

There are considerable risks.

After careful internal evaluation, Hewang Capital prepared to invest 10 million, accounting for 30% of the shares. This was given as a bonus for Zheng Jingping's sake.

But who would have thought that Lin Baiyao, a madman, would increase the valuation of Mengniu by a full six times in order to defeat Hewang Capital.

"Crazy! Fucking crazy!"

His head was so dizzy that Yu Anzhi didn't know how he left the hotel. When he sat in the car, he was still cursing Lin Baiyao for being a complete lunatic.

Mo Yizhong was much calmer and suddenly said: "Do you know why Zheng Jingping left Yili?"

This is something that everyone knows. Yu Anzhi said: "Zheng Jingping is too capable and popular. Ge Hongjun of Yili couldn't tolerate him, so he resigned to go it alone and took away dozens of key talents. It is said that Ge Hongjun was against the alliance.

The establishment of Niu was very dissatisfied, and it used resources to secretly suppress it, so that Meng Niu could not even find a place to build a factory in Saibei Province..."

"That's it, the enemy of my enemy is my friend. Since Zheng Jingping doesn't know what is good and what is good, let's talk to Yi Li about cooperation..."

Yu Anzhi woke up from a dream and said: "Yes, we can make Hewang Capital a shareholder of Yili through private placement and other methods, and then help Yili nip Mengniu in the bud. I see Lin Baiyao's 20 million

How come the dollar is wasted!”

Returning to Hewang headquarters, Yu Jingzong learned what happened, but he was not too surprised.

He had studied Lin Baiyao carefully recently and found that this young man was quite contradictory.

Sometimes he is cautious and acts after making plans. The city is as fortified as an old fox who has lived for decades.

But sometimes I have a strong gambling habit. As long as I have my sights set on the right direction, I dare to throw all the chips in my hand, regardless of the consequences and costs, and I am as willful as a seven or eight-year-old child.

Although so far, Lin Baiyao seems to have made the right bet.

But Yu Jingzong has been through the sea for a long time and has seen too many gamblers win ninety-nine times and lose everything after losing only once. He thinks that he will lose sooner or later because of this habit, which is not without flaws.

Yu Jingzong said: "Investment is not a grudge. You want to invest in Yili to suppress Mengniu. Have you ever thought about whether Yili is willing to increase the amount? If not, absorb shares from the secondary market. Have you ever thought about the investment income and

Cost of risk?”

Yu Anzhi said: "I thought about it on the way back. According to due diligence, the growth of the dairy industry has been weak in the past two years. In 1998, there was even negative growth in the entire industry. But Yili has launched a product with a shelf life of seven

Yue’s normal-temperature milk has bucked the trend and has risen, with gratifying performance. However, dairy companies with high market shares such as Guangming and Sanyuan are eyeing it, and the competition is still very fierce. There should be no resistance to Hewang Capital’s investment... As for

In terms of returns and risks, judging from Yili’s development momentum, there will definitely be no loss, it’s just a difference between high and low returns.”

He paused and said: "However, investing in Yili and investing in Mengniu are two different concepts. It requires at least 200 million in capital, and must be approved by the board of directors and signed by the chairman..."

After deliberation for a long time, Yu Jingzong agreed to the plan put forward by Yu Anzhi and Mo Yizhong. What made him make up his mind was not the so-called data analysis, but Lin Baiyao's behavior of spending a lot of money to bet on Meng Niu, which showed that he was very optimistic about the future.

Prospects for the dairy market.

In this case, investing in Yili and suppressing Mengniu kills two birds with one stone, and there is no reason to object.

On the second day, in a multi-functional conference hall of a luxury hotel, Ye Xi and Chu Gang, as legal representatives of Yinchan Venture Capital and Lin Xiaochu, formally signed an investment agreement with Zheng Jingping.

Of course, 20 million US dollars is not that easy to get. There is a gambling clause in the agreement. In the next three years, if the revenue exceeds 1 billion and the net profit exceeds 50 million, Yin Chan Venture Capital will give 10% of the shares as management rewards.

On the contrary, if the target is not achieved, Mengniu will give another 10% of its shares to Yinchan Venture Capital, and the controlling stake will change hands.

Lin Baiyao does not pursue a controlling stake in Mengniu. In many cases, investment is not limited to the larger the equity. Sometimes, it will be more beneficial to the company's development to give up part of the equity and introduce more interest communities.

He did this just to prevent Zheng Jingping and other senior executives from losing their enterprising spirit.

Two hundred million is not a small amount.

Yili went public in 1996, and its total market value in 1997 was only RMB 500 million.

Mengniu suddenly received a huge capital injection of 200 million. It is inevitable that some people will have all kinds of ideas. Only if it is hung with 10% of the equity, the donkey will work hard.

After signing the contract, the business was discussed at the celebration banquet. Lin Baiyao asked Meng Niu what was the most pressing issue at the moment. Zheng Jingping said: "It's milk sources and processing plants..."

The milk source is firmly controlled by Yili, and the factory is not built overnight. Lin Bai said: "The milk source is easy to solve. Mengniu Company can set up a cooperative with the farmers in the milk source area, and Mengniu will provide loans and breed cattle."

"

Zheng Jingping lamented that heroes cherish heroes. He also had the same idea, but it was difficult to implement it due to lack of money. Now that he has money, the problem is no longer a problem.

Lin Baiyao had to drink a few more drinks, but Chu Gang saw that the situation was not good and came over to replace him, otherwise Lin Baiyao would have to be carried out just halfway through the banquet.

This is the bad thing about doing business with Saibei people. After chatting for a while, you have to drink, and you can only continue talking after drinking for one round. Lin Baiyao barely lasted two rounds, thinking that he would have to train a Jiu Mengzi as his subordinate later, to deal with this.

On this occasion, he said: "Mr. Zheng, I can't drink anymore. Let's find a quiet place to talk about business..."

Zheng Jingping smiled and said: "Okay, listen to Mr. Lin."

Using local materials, they booked a room upstairs in this hotel. They made sobering tea and talked about the next product planning, which was still four major categories: liquid milk, milk powder and cheese products, and cold drink products. The key pillar was liquid milk.

Milk.

Regarding liquid milk, there was only a single category of low-temperature milk in China before. In 1997, Yili introduced equipment from Tetra Pak and developed room-temperature milk, but it has not yet demonstrated its invincible power in the future.

Zheng Jingping's thinking has not completely changed. He also believes that room-temperature milk cannot replace the market position of low-temperature fresh milk in a short period of time. After all, consumers may not accept it due to the gap in nutritional value and taste.
To be continued...