Rebirth: I have Monopoly System

Meanwhile, Peng Zhijian and his entourage walked into the main conference room, met by the excited gazes of the Little Red Car employees.

"President Peng, welcome!"

Wu Yun and his team stood to their feet, guiding Peng Zhijian and his entourage to the seats of honor.

Once they were seated, Li Qiuliang spoke. "President Peng, we’ll begin with Little Red Car’s monthly summary for November. There’s some data we’d like you to hear as well."

Peng Zhijian nodded in understanding.

Li Qiuliang then nodded to Li Yan, who was presiding over the meeting.

"Welcome, everyone, to Little Red Car’s November monthly summary meeting. Today’s meeting will have several main agenda items. First, a review of our November data. Second..."

"On November 1st, our company deployed a total of 1.2 million new bikes. Among them, Rongcheng, Capital City, Modu, Guangzhou, and Peng City each received 200,000. The remaining 200,000 were distributed evenly among ten provincial capitals, including Chang’an, Jinling, and Hang City."

To ensure Peng Zhijian and his team were clear on the time frame for the data, Li Yan made a point to be specific: "From October 25th to November 24th, Little Red Car acquired a total of 8.8 million new users. Of these, the ten provincial capitals accounted for 2.4 million new users, Rongcheng for 1.23 million, Capital City for 1.06 million, Modu for 1.1 million, Guangzhou for 1.5 million, and Peng City for 1.51 million..."

Hearing this, Wu Yun frowned. ’I didn’t expect Little Red Car to still be affected by Little Yellow Car and Mobike.’ Coupled with the weather turning colder, the impact of deploying 1.2 million bikes wasn’t much greater than that of deploying 1 million in October.

As the data analysis continued, it became clear to everyone that Little Red Car’s numbers were showing a slight decline.

"Our data this month shows a slight downward trend. Based on our analysis and surveys, the overall decrease in new registrations across cities is due to two main factors: a shrinking untapped market in those locations and the colder weather."

"The more significant declines in Capital City and Modu are primarily due to competition."

"However, overall, with our 3 million bikes and 27.28 million registered users, our company holds a firm grip on the top spot in the shared bike industry—several times greater than Little Yellow Car and Mobike’s totals combined."

...

After the meeting, everyone except for the department heads had left, including those attending from the branch offices.

Wu Yun smiled and asked, "President Peng, do you have any more questions about Little Red Car’s data?"

Of course, this was just a formality on Wu Yun’s part. The recent presentation had been incredibly detailed, providing a clear and intuitive overview of Little Red Car’s data, its competitor analysis, and its future development plans.

Peng Zhijian shook his head and got straight to the point. "President Wu! I think we can discuss the matter of the equity acquisition."

"After our due diligence, auditing, and market assessment, we at Tencent value Little Red Car at US$ 500 million. We would like to acquire a 20% stake."

Wu Yun and Li Qiuliang exchanged a look, but neither man’s expression betrayed a thing.

Li Qiuliang said, "President Peng, that valuation is too low! The value of our three million bikes alone, which were originally 550 yuan each, is still 500 yuan apiece even after depreciation!"

"Those fixed assets alone are worth 214 million US dollars, to say nothing of our nearly thirty million registered users! Those thirty million highly active users are worth US$300 million by themselves!"

"Our company is already profitable! You just saw that we have considerable monthly income from rides and interest. It’s only on the books that we appear to be in debt, due to the shortfall from the refundable deposits."

"Besides, if we’re basing the valuation on operating revenue, our comprehensive projections show a conservative annual revenue of 150 million US dollars. Going by the standard internet industry valuation of five to ten times revenue, our company’s minimum valuation should be 750 million US dollars!"

...

As Li Qiuliang eloquently laid out his case, the Management team from Little Red Car couldn’t help but smile. ’Little Red Car was founded so recently, and look at us now! The future is incredibly bright!’

The moment Li Qiuliang finished, a man in a suit beside Peng Zhijian retorted heatedly, "Impossible! That’s absolutely impossible! Little Red Car still owes a huge amount in deposits. At that valuation, there’s no way we could assume responsibility for those deposits!"

...

The negotiation was an arduous process. After a full morning of verbal sparring, the two sides finally shook hands and reached an agreement.

Tencent would acquire a 15% stake from Wu Yun at a valuation of 800 million US dollars.

As part of the deal, Wu Yun would also set aside 5% of the company’s shares to create an employee stock option pool, which would include the 2.5% of shares optioned to Li Qiuliang.

"Congratulations, President Wu! A very successful outcome!" Peng Zhijian said with a smile, signing the agreement and shaking Wu Yun’s hand in the presence of both legal teams.

"Haha! Welcome aboard, Tencent. Looks like I’ll be riding your coattails from now on!" Wu Yun said, shaking his hand and smiling for the camera.

"President Peng, let’s get Little Red Car integrated into WeChat as soon as possible!" Wu Yun added as a reminder.

A smile spread across Peng Zhijian’s face. "No problem! President Wu, the 120 million US dollars should be in your account by tomorrow."

Peng Zhijian added, "President Wu, don’t forget to pay your taxes!"

Wu Yun felt a sense of resignation. His company had benefited from the two-year tax exemption for new internet tech firms, but he hadn’t expected to be hit with a 20% personal income tax on the sale.

’No wonder I’ve read in the news about people setting up investment firms in certain jurisdictions or overseas for legal tax avoidance.’

Wu Yun decided he needed to research how he could use legal tax avoidance to increase his take-home pay.

With the official business concluded, Peng Zhijian joked, "President Wu, you’re practically a household name across the country now! That donation really put your companies on the map!"

"Even Xiaomage himself has been asking what games your two development studios are working on!"

Wu Yun glanced at the busy teams from both sides and said with a laugh, "It was all President Li’s idea. I didn’t expect other companies to jump on the bandwagon! Honestly, I’m still not used to being famous. It’s going to be harder to go anywhere for fun now!"

Peng Zhijian really wanted to say, ’You’re just humble-bragging, President Wu!’

"President Wu, there are a few reporters outside waiting to interview the business world’s newest rising star! It’s an important day, so why not go see them? We can promote our partnership. Just save an exclusive for Tencent News for when you’re a world-famous success!"

Wu Yun thought about it for a moment and agreed, then walked out with Peng Zhijian.

Old Li, who had been waiting bored in the lounge, had long ago developed the Skill of playing on his phone while keeping his ears open for everything. When he saw Peng Zhijian walk out with a young man, he immediately strode forward.

"President Peng! President Peng! What was the outcome!?"

Peng Zhijian looked at the recording pen thrust in front of him and said with a smile, "This is President Wu Yun! He’s the man you’ve all been trying to interview. Today is his home court, so I won’t steal the spotlight!"

The four reporters stared at Wu Yun, dumbfounded. They never expected the legendary President Wu to be so young. There had been speculation that he had to be a successful man in his thirties or forties!

In the end, it was the experienced Old Li who reacted first. After all, he had seen plenty of young and accomplished entrepreneurs in the world of finance, but this was his first time meeting a rising star quite like Wu Yun!

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