"President Gu, the Firewood Charity Fund has been registered."
In the office of the General Manager of Black Swan Capital, Mr. Shao reported to Gu Bai.
Although he was also puzzled, as the company had just started and there was no need to set up a charity fund, let alone invest a billion RMB all at once. Almost no company in the country would be this crazy, right? He had tried to persuade him, but Gu Bai seemed resolute, showing no intention of changing his mind, so Mr. Shao had to agree. After all, Gu Bai is the boss at Black Swan Capital, and his words are law. He just needed to comply unconditionally and do his own job well.
Sitting at his desk, looking at the documents sent by Principal Wang, Gu Bai nodded lightly.
"Hire some professionals with experience in managing charity foundations. I want this one billion RMB to be fully utilized within the year, and every penny must be spent on people who need help."
Although Gu Bai did not look up, Mr. Shao could feel an unprecedented determination in his tone.
He couldn’t understand what had stimulated his boss to suddenly become so passionate about charity work, especially when there were still several acquisition cases pending in the company. His Investment Management Department was already used to working overtime.
However, one thing is for sure: Gu Bai’s generosity is unmatched by any of the other bosses he has worked with. The overtime pay alone was more than double the legal requirement, which meant that, although they were worked to death, no one complained.
Upon hearing Mr. Shao’s response, Gu Bai fell silent and continued to review the documents on the table, while Mr. Shao sat opposite him in quiet anticipation.
Ten minutes later, Gu Bai closed the file, rubbed his temples, and looked at Mr. Shao. "Has the evaluation report you did for Panda been completed?"
At these words, Mr. Shao hurriedly handed the prepared document to Gu Bai.
"The evaluation is complete. Please review it, President Gu."
Gu Bai did not open the folder. Instead, he handed him a cigarette and then lit one for himself.
"No need for me to read it. Just give me a summary."
Mr. Shao respectfully accepted the cigarette from Gu Bai but did not light it. Gu Bai wanted him to verbally present the evaluation report, comfortably puffing on a cigarette as he did so—something no subordinate would normally dare to do.
Opening the folder, Mr. Shao began his report.
"Panda Entertainment Culture Co., Ltd. was established in July 2015 with a registered capital of 155 million RMB. The current legal representative is Long Fei. After Panda TV went online, it went through three rounds of financing. The first round was internal investment with a total of 100 million RMB. In the A round financing, 30% of the shares were released, obtaining 650 million RMB. The most recent financing was on May 24 this year, with a valuation of 6 billion, releasing 15% for 1 billion RMB."
Gu Bai flicked the ash off his cigarette, signaling him to continue.
"Currently, Panda TV’s equity is in disarray. Junyu Cultural Development Company holds 40.7%, Qihoo Technology Co., Ltd. holds 19.35%, LeTV holds 12.5%, Yuan Stone Capital holds 10.17%, while the remaining shares are held evenly by Xingzhen Capital, Hanfu Capital, Wokan Capital, Light Source Capital, Zhongji Investment, Changdi Capital, and Mingshi Investment.
Furthermore, Panda TV’s poor operations have led to consistent losses, causing its valuation to drop. Our evaluation department gives it an investment grade of A-." The latest_epɪ_sodes are on_the 𝔫𝔬𝔳𝔢𝔩~𝕗𝕚𝕣𝕖~𝙣𝙚𝙩
Having finished in one breath, Mr. Shao closed the folder and looked at Gu Bai again.
After listening to Mr. Shao, Gu Bai narrowed his eyes thoughtfully and asked again, "What valuation did you give?"
"Compared to the B round financing valuation of 6.5 billion RMB, we gave a valuation of 8 billion. Beyond this valuation, the necessity of investment can be discounted."
"You seem to underestimate Panda TV. From a B round valuation of 6.5 billion, you only added 1.5 billion."
Recognizing the joke in Gu Bai’s tone, Mr. Shao explained with a laugh, "The market is that harsh. Companies that can’t create value for investors, no matter how many rounds of financing they’ve had, can’t have escalating valuations. There are even cases where a company’s next financing is lower than the previous one. Usually, such companies are ignored by capital. After all, who would want to take a second look at a money-losing company?
In some ways, Panda TV’s case isn’t too bad. After the B round financing, they poured the funds into the market, which slightly increased their influence. Otherwise, its valuation might have been even lower."
Gu Bai chuckled lightly and extinguished his cigarette.
But some people don’t understand, thinking what they hold is still treasure."
"Are you referring to Principal Wang, President Gu?"
Gu Bai didn’t answer directly; instead, he asked with a smile, "Do you know the valuation Panda TV gave me?"
"That’s impossible! Even 8 billion is considered excessively valued. Our department set that as the negotiation baseline. Even a one billion increase would mark a failed investment!"
Mr. Shao said boldly.
Seeing Gu Bai say nothing, Mr. Shao continued to persuade, "President Gu, I know that your personal relationship with Principal Wang might affect your judgment of Panda TV, but as a member of the company, I must caution you. The streaming market is weakening, and you should be extremely cautious."
Mr. Shao had deliberated for a long time before deciding to speak up.
Gu Bai was still very young, and as one of the trusted subordinates he personally promoted, Mr. Shao felt it necessary to advise him, even though his comments might be crossing a line. Based on the company’s recent actions, Gu Bai seemed determined to enter the streaming industry.
Gu Bai looked at him askew and said slowly, "Do I seem like an idiot to you?"
Mr. Shao hurriedly clarified.
Gu Bai didn’t take it to heart and continued, "The stagnation of the streaming market is because the current environment doesn’t allow for gray-area businesses. Once the direction of streaming is clear, the industry will expand again. There’s no need to worry about that.
As for your point about my relationship with Principal Wang...
Do you think I’m someone who would get taken advantage of because of a personal relationship?"
Although he had enjoyed getting along with Principal Wang recently, that didn’t mean Gu Bai would ingratiate himself. To be honest, being the son of the richest person might seem valuable to others, but not to him. With the system upgrades, without even considering the future, he had already surpassed him.
Finishing up, Gu Bai stood up.
"Send a message to Panda TV, tell them the valuation is 7 billion, and wait for their second offer."
The two of them walked out of the office side by side.
"Is it about time? Is the legal department ready?"
"They’re already on standby and ready to head out."
The financing for Panda TV can be put on hold for now. The acquisition of Wajijiwa Entertainment is already imminent.