Chapter 57: Macro Shift in Overall Investment Logic

Insiders in the investment circle have more or less heard the story of how Chen Yuanguang turned the huge crisis he faced in the public opinion field into a huge turning point and regained the initiative of a film and television IP with huge value.

There are too many elements involved in this matter, and it can be said to be a classic case of business war. These people are very optimistic about Chen Yuanguang, who has technology, business acumen and clear decision-making judgment. Even if there is not much introduction to Chen Yuanguang's company, they are willing to come and listen.

"Hongyi, why are you here too?" Fang Huiyu, a partner of Bencao Capital, was a little surprised to see that it was Chen Hongyi who came from Qiming Venture Partners.

After Chen Yuanguang's introduction, there was a short tea break. After the tea break, the meeting continued with only representatives and service staff from various companies. Representatives from various companies who were familiar with each other gathered together and talked in low voices.

Like Fang Huiyu, Chen Hongyi is also a partner of Qiming Venture Partners, but Qiming Venture Partners manages much more capital than Bencao Capital. Bencao Capital manages RMB 40 billion, while Qiming Capital manages more than RMB 90 billion, both in US dollars.

"The project is good, so I went there in person. These days, there are too few good projects. Especially in recent years, it is too difficult to go public on the Nasdaq. The Americans are less and less willing to invest in Chinese companies.

I am really unwilling to go public on the Hong Kong stock market. The valuation given by the Hong Kong stock market is not for people to see. It is listed just for the sake of listing. After listing, they will raise a sum of money and run away.

The entire industry is stagnant." Chen Hongyi appeared calm on the surface, but what he said was extremely depressing.

Fang Huiyu chuckled and said, "I didn't expect Qiming Venture Partners to have the same troubles as us."

Chen Hongyi said: "The industry as a whole is under pressure and everyone is having a hard time, mainly because the investment logic has completely changed.

Before, we helped Chinese companies tell the Chinese story in America. Now, America doesn’t want to listen to your Chinese story. We only want the present, not your future.

So, except for a few giants, Chinese companies do not have much advantage over foreign companies in listing on Nasdaq. Coupled with the uncertainty between China and the United States, this path is basically blocked.”

Fang Huiyu agrees: "Before, we were looking for companies with potential to invest in, but now everyone wants to invest in companies with great potential."

Chen Hongyi and Fang Huiyu looked at each other, smiled bitterly and shook their heads.

The magical companies are those that, if you want to invest now, you don’t want to go to the Hong Kong stock market because you can’t get a good valuation, and you can’t go to the Nasdaq, so you can only look at the A-share market.

Most companies that want to be listed on the A-share market have gods behind them. So when investing in a company hoping it can be listed on the A-share market, one should first find out about its background and which gods are behind it. Then one should evaluate whether the gods are powerful enough. Is he a celestial being who can make people feel enlightened when hearing his name, or is he a terrestrial being guarding a place? Everyone is vying to invest in companies with celestial gods behind them.

It doesn't matter your level of industry research, what is being tested is whether your antenna can capture accurate signals.

Both Chen Hongyi and Fang Huiyu felt that their work was becoming less and less interesting and they no longer had the same passion as before.

"The project of Wright is different from what I expected, but I still want to invest because no other domestic companies are doing it, and even foreign companies have not heard of any good ones." Chen Hongyi said: "Although it seems that the results are far away, I think this is a target worthy of our long-term investment."

Fang Huiyu thought, this old fox is still trying to fool me. What results are so far away? Haven’t they already achieved results? We are all veterans in biomedical investment. The experimental monkeys have been verified to be successful. The next step of success in humans is completely foreseeable. Unlike some cutting-edge projects, there is only a concept.

If this project only has a concept, it depends on whether you will invest or not. Fang Huiyu said it in such a high-sounding way. After a few complaints, she said, "We at Bencao Investment are also optimistic about it. We think this project has great potential, and we also plan to invest in it to see if we can."

On the other side, people from Shunwei Capital were talking quietly with people from Sequoia:

"How could we not come and take a look at Junior Brother Lei's business? It's just that the direction is a little different from what we expected."

"Yes, we originally thought it would be a biopharmaceutical company. Dr. Chen has profound knowledge in the field of biopharmaceuticals. If it is engaged in the research and development of new drugs, we will definitely invest money in him without hesitation.

However, there are too many uncertainties in human hibernation technology.

However, we are still very optimistic about Dr. Chen himself. It is not easy for someone so young to resist temptation. "

"Are you referring to the continued cooperation with Tencent?"

"That's right. After severely screwing Tencent over "Once Upon a Time in Kuala Lumpur 2", they were able to continue cooperating with them on the follow-up without batting an eyelid. They were able to resist the temptation and continue to smile after stabbing each other. It's really rare that they can bend and stretch. "

After the great success of Once Upon a Time in Kuala Lumpur 2, Chen Yuanguang or Lin Jia chose to continue cooperating with Tencent for the subsequent series, and the investment ratio increased from 2% to 30%.

"Cooperating with Tencent is the most rational choice, because Tencent is in charge of the entire process of both 1 and 2, from filming to marketing to subsequent operations. The IP itself, Tencent's operation and accidental events complement each other. Changing people means changing actors, changing directors, and changing everything.

A mature entrepreneur would not take this risk. Dr. Chen is indeed more mature than the outside world imagines.”

"This is clear decision-making and judgment ability. It is not easy for such a young person to have such accurate judgment ability."

The topic discussed by the representatives of various investment institutions present was Chen Yuanguang. These representatives had high titles, and the lowest one was a senior investment manager. If it were other projects, the first negotiations for the first round of financing of a start-up, at most an ordinary project manager would be sent.

The reason why it can be of such high standards is because of Chen Yuanguang.

It’s just that everyone originally thought it was a startup related to vaccines, but after arriving, they found out that it was a direction they had never heard of before.

After returning to the conference room from the tea break, everyone gradually quieted down. Chen Yuanguang still stood on the stage and asked, "Now it's the question-and-answer session. Does anyone have any questions?"

"Dr. Chen, I am very interested in your direction. However, there is now hibernation hypothermia therapy, which uses drugs combined with physical cooling to help patients enter a hibernation state, which also reduces metabolism to a very low level.

I want to ask what is the difference between your research and hibernation cryotherapy? "

Chen Yuanguang said: "The artificial hibernation method currently used in hospitals is mainly achieved through drugs, either pethidine or chlorpromazine, combined with some other drugs and physical cooling."

　Big A is much more ruthless than northern Myanmar
　　
　
(End of this chapter)