Chapter 66: Unpredictable Fortunes
Murong Feng suddenly became a very busy man.
Take his schedule for today as an example:
At 9 AM, he drove to the National Guest Hotel to attend the "Current Economic Environment and Policy Regulation in China" seminar hosted by the Beijing Federation of Industry and Commerce, followed by a luncheon.
At 2 PM, he rushed to the Central Committee of the Communist Youth League building at 10 East Qianmen Street to participate in the "Youth Entrepreneurs Poverty Alleviation - Action Month Symposium" organized by the China Youth Entrepreneurs Association.
At 8 PM, he hurried to the Westin Hotel's Jubao Hall on Financial Street to attend the "Glory and Happiness Charity Night" jointly organized by the All-China Federation of Industry and Commerce, China Glory Promotion Association, and China Population Welfare Foundation, where he generously donated to help impoverished mothers in disaster areas.
This doesn't include his frequent attendance at meetings for TOM Beijing, Fengxing Wireless, and Harbor Technology.
This young tycoon, who simultaneously held the titles of director and major shareholder in several companies, added several social positions in just a few months: Executive Committee Member of the 12th Beijing Federation of Industry and Commerce, Board Member of the 10th China Youth Entrepreneurs Association, Board Member of the China Glory Association, and committee member of the Information Industry Committee of the China Youth Entrepreneurs Association and the Political Participation Committee of the Beijing Federation of Industry and Commerce.
This was almost the limit of social status achievable for a young entrepreneur of his age. If not for his active and generous participation in multiple public welfare and charity activities of the China Glory Association within the Beijing Federation of Industry and Commerce, it would have been difficult to gain recognition from higher levels so quickly.
After the lock-up period ended, Murong Feng smoothly transferred his 6% stake in Huayou to AIG Investments, a famous mutual fund under the American International Group (AIG), at $37.6 per share (above the current market price of $35). He successfully cashed out $220 million, while still retaining a 0.8% stake in Huayou, achieving a perfect exit. With 1.5 billion RMB in cash, Murong Feng naturally held special weight in the eyes of high-level officials.
Perhaps this was also one of the reasons why Murong Feng could so easily obtain these social positions.
The media stirred up a new round of hype, as there is indeed a big difference between the value of shares on paper and actual cash in the bank. A young man of just 28 years old, with a net worth exceeding 1.5 billion RMB - in cash. What kind of concept is this?!
"With a net worth of over 1.5 billion yuan, young tycoon Murong Feng once again tops the list of Beijing's most eligible bachelors." In the office of Galaxy Securities' investment banking department, a still-charming 36 or 37-year-old middle-aged woman was flipping through a magazine. Reading this, she quickly brought the magazine over to her colleague.
.....
"I want to increase my investment! I know you're worried about the share ratio issue. Don't worry, I've thought it through: I'll put in 200 million, investing in Harbor the normal way. This way, the company's valuation will be recalculated, and I'll propose at the board meeting to further increase your share ratio due to your tech and patent contributions. So in the end, you'll still be the major shareholder, and I'll be second in command. How about that?"
Li Xiangnan looked him up and down, full of doubt: "You'd do that for me?"
Murong Feng feigned anger: "Hey, don't be ungrateful when you're getting a good deal!"
They playfully punched each other's shoulders, laughing heartily.
In the evening, Murong Feng and Li Xiangnan arranged a board meeting with Shen Dong at the company to discuss further expanding their investment. Shen Dong immediately expressed his interest in increasing his investment as well. Murong Feng would increase his capital by 200 million, and KPCB would also increase their investment by 20 million USD, equivalent to 140 million RMB. Li Xiangnan and Murong Feng exchanged a glance and agreed. Since all the shareholders were directly increasing their investments, it wouldn't require the complex calculations of typical financing rounds. They would simply increase the current proportions accordingly. Murong Feng suggested raising the valuation of Li Xiangnan's technical equity. After all, the entire company relied heavily on Li Xiangnan's influence and technical team for development. Shen Dong naturally agreed.
Eventually, Harbor Technology's equity and registered capital were adjusted. The registered capital increased to 676 million RMB, with Li Xiangnan adding 10 million RMB in funds and his technical equity percentage slightly increased from 30% to 32%. Thus, the overall investment was adjusted to: Li Xiangnan investing 40 million RMB plus 32% technical equity, Murong Feng investing 240 million RMB, and KPCB investing 170 million RMB. The equity distribution became: Li Xiangnan 38%, Murong Feng 35.5%, and KPCB 26.5%.
With the decision, they all believed that with the funds in place, Harbor Technology would certainly embark on a path of rapid and robust development. Li Xiangnan, Murong Feng, and Shen Dong shook hands and smiled, as the bright future of Harbor Technology seemed to dawn.
After finishing the board meeting with Li Xiangnan and Shen Dong, Murong Feng, still in high spirits, went to the Beijing Club to enjoy cigars and wine, discussing the current state of Harbor Technology.
Li Xiangnan said, "The factory and office buildings in the park are almost complete. The two production lines just need some parts to be assembled. The technical team I brought from Huaxia Group has already resumed their R&D projects. We now need to hire workers and marketing personnel. Once the new investment funds are in place, we will immediately expand the production lines and start two new research projects. Additionally, we'll resolve housing issues and residence permits for key technical personnel and core employees in Beijing. If the park management committee can fulfill its promise to open a green channel, more technical experts will join Harbor. I will also increase R&D bonuses and incentivize new patents and projects with housing rewards."
Murong Feng nodded approvingly, "Xiangnan, it all depends on you. You're not only a technical genius but also an excellent CEO. I believe Harbor Technology will surpass Huaxia Group under your leadership!"
Li Xiangnan laughed heartily, took a drag on his cigar, savoring the moment. Exhaling the smoke, he displayed rare enthusiasm, raising his glass, "To Surpassing Huaxia!" Murong Feng and Shen Dong smiled and raised their glasses, "To Surpassing Huaxia!"
Late at night, Murong Feng drove home, exhilarated. The investment discussed today was the largest he had ever made in his life! Unlike Shen Dong, whose KPCB raised venture capital from various financial institutions, Murong Feng invested his own money! This time, he was truly tied to Li Xiangnan.
Murong Feng had always felt that Li Xiangnan's treating him as a good friend was a kind of trust, and this friendship was very encouraging to him. But he didn't realize that his own unwavering support from the start of the venture, to increasing his investment further without knowing the potential returns, was what moved Li Xiangnan the most!
As Murong Feng drove, he reflected, "Murong Feng, you've really made it. Two hundred million! Now, two hundred million seems no different from two yuan!"
It all felt like a dream.
Honestly, the smooth cash-out of Huayou shares, netting 1.5 billion RMB, still made him excited.
Murong Feng connected with AIG Investments through Zhou Haitao. Zhou, who attended Wharton with AIG's investment director, facilitated the negotiations. After agreeing on the price, Murong Feng informed Wang Lei before the transaction. Wang Lei regretted that Murong Feng would no longer hold Huayou shares, but knowing Murong Feng had no interest in the film and entertainment industry, he understood. Learning that AIG would acquire the shares, Wang Lei was pleased, as this meant another major international fund would become a Huayou shareholder, benefiting Huayou's future overseas market expansion.
Thus, Murong Feng's UBS account effortlessly increased by $220 million. As for transferring the money to China, Murong Feng left it to Zhou Haitao, who had ample experience handling such transactions for UBS.
He also planned to set aside 500 million RMB to establish an investment company with Zhou Haitao once all funds were in place.
The car turned onto the banks of the Kunyu River, with Murong Feng's apartment not too far ahead.
Murong Feng was still pondering future development plans when he suddenly noticed someone running across the middle of the road ahead!
"Screech!"
The sharp sound of tires scraping against the ground as the car braked suddenly rang out. The powerful braking of the Mercedes G55 brought the car to an abrupt stop. Fortunately, Murong Feng always liked to keep the windows open on this road to feel the cool, damp air blowing from the river, so the car wasn't going very fast and didn't hit the person on the road.
The person seemed drunk, swaying as they stumbled around the front of the car, passing by Murong Feng's car door.
Then, Murong Feng heard a "thud" behind the car. Looking back through the rearview mirror, he saw the person had fallen near the rear of his car. The sound he heard must have been their body hitting the car.
Murong Feng cursed his bad luck, but he wasn't the type to ignore someone in need. It would be too dangerous to leave a drunk person lying in the middle of the road. So Murong Feng opened the car door and got out, walking to the rear of the car and crouching down to check on the person's condition.
Just as he turned the person over, Murong Feng began to say "Sir...", but he saw a face with an eerie smile.
Suddenly, he felt a pain in the back of his head. Murong Feng's vision filled with stars, gradually fading to complete darkness.
He lost consciousness.
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