Wuliang Advertiser

161 Valuation of 6.2 billion

Wu Liang's headache is that she was found out by Majestic when she came to Beijing, especially when she brought Zhang Hongning.

Ordinarily, the relationship between two people should be the one below the lover and above the confidante, and Majestic should not have any excessive reactions when she knows it.

But the problem lies. How can Jingcheng say it is Majestic's site? It's all here. Why don't you hand in an assignment?

As soon as Wu Liang entered the ticket gate, Majesty's text message came over, "Oh, did you avoid me when you came to Beijing?"

Wu Liang's face was green, and Zhang Hongning was asked to fly back first. He also said that there was an emergency in the capital. This lie was that Wu Liang's face was not red and his heart beats. There was business in Beijing, and Zhang Hongning knew.

Wu Liang rushed to the Huangjia Hotel in a hurry, not panicking, Wu Liang couldn't figure out the situation. In any case, it would be inappropriate for a beauty to meet again!

When he arrived at the Huangjia Hotel, he hurriedly stepped into the elevator, and the room was actually the same room he had lived in for the first time. Wu Liang just shook his heart and said bad things.

Ringing the doorbell, there was no smile on Majesty's face, she walked back to the room and sat on the sofa blankly, without saying a word.

Wu Liang licked his face and went up, "Oh, this is a newly bought dress, it's so beautiful, the skin color of the lining is very white!"

Majestic did not speak, and threw a contemptuous look.

In the face of this situation, Wu Liang resorted to assassin, uh, admitting that I was wrong, "I know what I did is wrong. Explain, I guess you won’t listen, but if you don’t explain it, I feel aggrieved and panicked again, a dream some time ago. Have you heard about the self-examination of value-added services on the Internet?"

Majestic's eyes returned to focus, Wu Liang saw that there was a door, and continued to flicker, "Actually, there is a big secret behind this incident, involving a case of equity worth 2 billion! I am in a hurry this time. Hurrying back is to deal with this matter."

As an editor of a magazine, there is nothing more fascinating than the shocking gossip. Majestic was successfully abducted to the horizon by Wu Liang. However, as a girl's reserved, "Huh, why don't you talk about it, continue editing?"

"Ahem, you'll know in two months!"

Majestic closed her mouth again.

"Huh, really, don't lie to you! Look, the emerald pendant I bought you specially has no time to give it to you, if it's not for worrying about your anger, the two billion sale, I... Forget it, don't do Oh!" Wu Liang gritted his teeth, as if a large piece of meat had been lost, and looked extremely reluctant. It meant like, you see, I don’t do business for 2 billion, just to make you happy, isn’t that enough?

Majestic laughed, "Okay, don't say so bitterly and deeply, it seems that you are really losing 2 billion!"

Wu Liang sighed in secret, "Come on, look at the pendant, do you like it?"

Wu Liang pulled out a square box from his handbag, and inside it was a green jade pendant. Majestic's eyes lit up and she shyly pulled her long black hair aside. Wu Liang hurriedly stepped forward to her. Wearing it on the neck, "This is an authentic old pit plant. Look at this head of water, this green color, I can't make such a book."

"Do not talk!"

One hour later.

"You are not allowed to visit me when you come to the capital in the future!" Majestic ordered leisurely, "If there is such a thing again, hehe, you know!"

"Received! Your Royal Highness!"

Majestic smiled with joy, playing with the jade pendant in her hand, "This one is hard to buy, right?"

"Yes, I bought it in Xiangjiang. The one that evaded tax last year is in the same shop as her jewelry! Uh, there are some more fun jewelry in that store. I will give you later?"

"Can jewelry be fun?"

"It can be hung elsewhere!"

"roll!"

"Hehehe!"

Wu Liang looked at the time. Even if there was a late flight, he didn't want to make it. He rubbed his stomach and found that he was very hungry. "I haven't seen the night view of the capital yet. Get up and go out for a stroll?"

Wu Liang didn't appreciate the prosperity of the capital, and he couldn't appreciate it either. It was just that as his life gradually enriched, it was not a delay to examine the local business atmosphere while shopping.

Going downstairs, Majestic drove into the car, Wu Liang's phone rang, Ma Xiaoju, "South Africa Telecom is very angry, accusing us of treachery!"

"Will Wang Da understand the word treachery?" Wu Liang has never seen this person. "Is his Chinese very good?"

"Counsel Wu, the point is that the other party is unwilling?" Ma Xiaoju really didn't expect Wu Liang to be so unscrupulous. When was it, he was actually concerned about whether a foreigner could understand Chinese.

"Did you make an offer?"

"Not yet! I held a meeting for a day and valued my company at 4.4 billion."

"Oh? How do you estimate?"

"This year's profit is 320 million, the total equity is 1.344 billion shares, the earnings per share is 24 cents, and the price-earnings ratio is 14 times!

"Remove the income from Monternet's value-added services?"

"Yes! But Nanfei Telecom disagrees. When will you come back, let's discuss it again?"

"Uh, tomorrow?"

"Ugh..."

Wu Liang clearly heard a sigh from the opposite phone. This is a headache for not making money, and even more for making money.

Majestic drove the car, turned her head slightly, and saw Wu Liang there in a daze, "Or? I'll take you to the airport?"

"No, let him have a headache for a few days! Where are we going?" Wu Liang was relieved when he heard Ma Xiaoju say this. Nanfei Telecom didn't sell it, but made quotations.

If the valuation is calculated based on the earnings of listed companies in the past twelve months, there is nothing wrong with this algorithm of South Africa Telecom. If it is listed in the first half of 2004, then the annual report data for 2003 is the most convincing.

According to the current profitability of Fujitsu, even if the profit of Monternet's value-added business in the second half of the year is removed, the first half of the year is 300 million, of which the value-added part of the profit is 140 million, then the annual profit will reach 460 million, which is more than 3.2 Ma Xiaoju said The profitability of the value-added business for half a year, as a result, South Africa Telecom's valuation is 6.4 billion, an increase of 2 billion.

This is really not a small sum!

Of course, valuation is valuation. A 14 times price-to-earning ratio means that you can only earn it back after 14 years of investment.

Now I'll give you a reasonable valuation. It's safe to lose the bag, and it's the business to quit quickly.

Wu Liang carefully sorted out the share composition of Fujixun. South Africa Telecom bought 20% from Li Zekai for 12.6 million meters, bought 12.8% from IDG and spent 8.064 million meters. Later, the Fujitsu team sold 13.6 meters. % Of the shares are given to South Africa Telecom. In this way, both parties account for 46.4%, and the remaining 7.2% is in the hands of Wu Liang.

If the historical trajectory remains unchanged, the Ma Huateng team will repurchase the original 7.2% of IDG's shares before the listing, at a price of 4.579 million yuan, for a total of 37.54 million soft sister coins.

Wu Liang spent 50 million at that time, but the share swap was more or less like that!

In other words, in his previous life, Ma Xiaoju could definitely repurchase the shares held by Nanfei Telecom at a total asset price of 500 million yuan. The implication is that after several years of development, Fujixun is still the previous Fujixun without assets. What a change.

However, that was a previous life, Ma Xiaoju had no money, now Wu Liang is rich, Fujixun is also bullish, Nanfei Telecom was reluctant to sell, and the lion opened his mouth.

Wu Liang can't wait to slap himself twice, what else is he doing so hot for the ball?

I dug a hole for myself.

Xiong Xiaoge is willing to value three billion yuan, which means that he has seen Fujisun's profitability. According to the opinions given by his analysis team, this is a team similar to Shengda.

Shengda will also land on Nasdaq next year. It is about to usher in a capital feast. Taking this opportunity to be a short-term is what Xiong Xiaoge expects most. However, Xiong Xiaoge has another dream, that is He has cultivated a world-class company. He sees hope from Fujisun. He even wants to get a large sum of money in, and leave it to future generations to give him the title of "the most successful investor who can get back if he missed it." .

Wu Liang frowned and thought, he was a bit dazed for a while, even after the car arrived in Xidan, he hadn't recovered.

Majestic didn't urge him, so she waited quietly until Wu Liang woke up, "Huh? Go there, go shopping!"