Chapter 1688 (1/2)

For unlisted IT companies, the actual value is difficult to judge.

Generally speaking, we should look at the income, the same kind and the assets.

But the same kind, now far away e-commerce can do less comparison, income and assets can be seen.

However, e-commerce also needs to add the calculation of expected benefits in the future.

The 70 billion valuation put forward by Shen Guojun and other people before is not the data given without reason, but calculated by the discounted cash flow method.

But this kind of calculation mode is not objective enough for today's distant shopping mall.

At the moment, the distant mall is still in a period of seizing the market before it defeats the treasure digging, and the cash flow generated is not much.

Of course, 70 billion is not satisfactory.

Whether Teng Xun or far away, are unlikely to agree.

Of course, Shen Guojun and his colleagues did not expect to agree from afar.

But no one will accept Tan Haiying's 250 billion.

If the valuation is 250 billion, their shares will be diluted by more than half.

……

When Li Dong seemed to report ”150 billion” inadvertently, no one spoke in the conference room for a long time.

150 billion?

Over $20 billion, this valuation is definitely not low.

But now the listing is imminent. If the remote mall is listed separately, it may not be inferior to Amazon. In fact, the gap between the two is not too big.

One lies in the wide coverage and the other lies in the large rising space.

If you can match Amazon, the market value of the distant mall is expected to exceed $40 billion.

Of course, it is not objective to compare the earnings after listing when it is not listed.

Otherwise, the same can be said for distant retailing.

Li Dong reported 150 billion yuan, and everyone was thinking about the gains and losses of interests. For a while, no one spoke.

After a long time, Xu Shengzhe, who did not know how to open his mouth, said with a smile: ”150 billion is not low, especially the treasure has not been counted.

Add the treasure. I agree with you.

But now, dig treasure still need to wait for the mall to integrate, then go to purchase.

If you add in the $4.5 billion you've spent, the value of the remote e-commerce system will be as high as 180 billion.

Li Dong, don't you think the valuation is too high? ”

Tan Haiying stopped talking, but Li Dong didn't let her speak. He said with a smile, ”is 150 billion really high?

Don't say how much you can earn after going public, it's nothing to say.

Now, it is a certainty that the revenue of the distant mall will exceed 300 billion this year, and the transaction volume of wanjia.com has also exceeded 100 billion.

For self operated business, the gross profit should exceed 12%.

And the next investment in logistics and warehousing will be invested by the logistics group, no longer associated with distant shopping malls.

In this way, the net profit of the mall will soar.

More than 10 billion yuan, this is the benefit that the distant mall can bring to you every year.

At this time, do you think 150 billion is really high? ”

In the early stage of e-commerce, the construction of logistics and warehousing channels is a big investment.

Can be far away here, now split, do not take the account of the mall.

In this way, the profit margin of the mall is very high.

Otherwise, logistics and warehousing go shopping mall channel expenditure, the mall is losing money every year.

Li Dong continued: ”in fact, I have talked with some world-wide assessment institutions, including some investment banks. The valuation of remote e-commerce is far more than $20 billion.

You should know that we are No. 1 in the world, not in China.

What's more, we are mainly focusing on China, which is a disadvantage, but it is also an advantage.

The advantage is that we still have a lot of room for development.

Of course, the disadvantages are obvious, and the limitations are some.

Under the comprehensive advantages and disadvantages, it is considered that the value of the distance is still greater than that of Amazon.

150 billion, which is the valuation that I have been considering for a long time.

As I said before, in the distance now, more is sharing.

Sharing of interests is also the basis of our cooperation.

If you really find it unacceptable... ”

Li Dong said lightly: ”at this time, you can choose to quit.

Far away retail, the group has given a valuation of 222 billion yuan, which is more than the actual value.

Compared with the time when we became a shareholder, the increase was more than 100%.

At this time, you think that the valuation of e-commerce is too high. I will buy back the shares in your hands with a value of 222 billion yuan. I should not treat anyone badly.

In less than a year, I will give you 120% return. I don't think anyone will feel sorry for me, Li Dong? ”

In the crowd, someone immediately said with a smile: ”Mr. Li is joking. Who doesn't know Mr. Li's Renyi? It's us who follow Mr. Li to make money, so there's no excuse for who.”If Li Dong wants to buy back the shares or buy them back at the current quotation, it's really good enough.

In fact, at this time, Li Dong only gave them two choices, either to agree or to withdraw.

If you quit now, everyone will make a fortune.

We don't have to take risks. After all, it's hard to say how to go public, although the expectation is good.

But now there is no risk, does not mean there will be no risk in the future.

Now it means quitting the alliance, and the distant investment still holds 20% of the shares of their enterprises.

Li Dong didn't say that these shares would be returned. At that time, he lost his protection from afar and controlled some channels from afar.

It's not far from the end if you want them to die.

The enterprises of the alliance are not easy to merge from afar.

In the face of such a huge object in the distance, non alliance enterprises will be swallowed up in an instant.

Someone spoke, and immediately someone answered, ”150 billion, we can accept...”

The speaker doesn't care what other people think of him. Facing the distance, they have no room to bargain.

Now, in addition to accepting, that can only exit.

But after the exit, their own business is not far from the end.

When there is no way to go, the best choice is to accept the idea of the strong.

Some people chose to accept, and soon many people compromised.

This year, we have also tasted the sweetness of cooperation with distant places. We don't have to worry about the invasion of other enterprises, and we don't have to think about many things.

For small and medium-sized enterprises, relying on the strong is an instinctive choice.

As for Shen Guojun, these ambitious people, even if they are not willing, it is useless.

If you don't want to, you can only quit. But once you quit, you have to guard against the invasion from afar.

Although Yintai is strong, it depends on the opponent.

Not before, let alone now.

Once it withdraws from the alliance system, Yintai will occupy a large share of the retail market in Jiangsu and Zhejiang, and will soon be under pressure from afar.

Considering these, Shen Guojun finally sighed and nodded to agree with Li Dong's plan.