After Lu Kai left, Zhang Shuo was thinking about the funding issue again.

Not only to develop commercial aerospace business, but also to consider how to alleviate the pressure on the capital chain of the budding industry. We cannot always dance on the tightrope.

I don’t have any money, and I always feel like I can’t do anything.

With the current scale of Sprout Group, there are actually many ways and channels to raise funds, but many of the so-called "shortcuts" are what Zhang Shuo subconsciously wants to avoid.

For example, we can use high-quality subsidiaries such as Maili Group and Mango Group for financing.

The threshold will be overrun by investors in minutes.

And if Zhang Shuo is willing to raise funds from the parent company of Sprout Group, with Sprout's valuation exceeding one trillion, he can easily raise hundreds or even hundreds of billions.

The problem of shortage of capital chain can be fundamentally solved in one step.

But this is not realistic.

First of all, subsidiaries such as Maili Group and Jade Bird Interactive Entertainment have already achieved profitability and are the mainstay of profitability. If they raise funds, they will not be able to turn in profits on time every month as they do now.

Instead, it is changed to year-end settlement.

For sprouts that move every month, it is even more inconvenient.

As for the Sprout Group, this involves the issue of dividends. Before financing, Sprout was actually owned by Zhang Shuo alone, and there was no need to consider the issue of dividends at all.

But once you raise funds, you will face the problem of dividends.

With the shares held by Zhang Shuo, the United Dream Fund will share more than half of the profits of the Sprout Group. This is definitely not Zhang Shuo's original intention, nor does he intend to use this method to increase his personal wealth.

So financing is currently not feasible.

The only option is to continue to issue corporate bonds to supplement cash flow.

Thinking of this, Zhang Shuodang called the newly appointed financial director Cai Feijuan to the office, smiled and asked Cai Feijuan to sit down on the sofa, and said with a smile: "The group's capital chain is tight, what can you do?"

Cai Feijuan sat up straight, knowing that this was a test for her.

"The group's asset-liability ratio is very healthy and it can continue to issue 50 to 10 billion corporate bonds."

Although the interest-bearing liabilities of Sprout Group alone are as high as 24 billion, in addition to cash-like assets, there are many other assets such as external investment and operating assets.

Among foreign investments, companies such as Wujiang Technology and Linde New Energy have seen a surge in market prices recently.

Needless to say, Linde New Energy, with the help of Mango M1, has quickly attracted the attention of investors and is about to start a new round of financing for research and development and expansion of production scale.

Wujiang Technology is even more prosperous.

In January this year, Wujiang Technology released another iconic product - "Phantom".

This is the first pre-assembled quadcopter that is ready to take off. It is easy to install and can take off within an hour after unboxing. It will not disintegrate after the first fall.

The overseas retail price is US$679.

Its simplicity and ease of use soon made the "Phantom" drone the best-selling product of Wujiang Technology, quadrupling the company's revenue with almost no market investment.

The two investments that Zhang Shuo led in the early stages of budding development have become legends in the investment circle.

He is even known as one of the most successful investors.

Another example is the Fright of Winter.

In the past year or so, with the dual support of Weixin's traffic support and financing funds, it has developed by leaps and bounds and has firmly established itself as the second largest e-commerce company in the country.

As soon as Jingdong goes public, the value of Jingdong's shares held by Mei Ya will skyrocket.

In addition, there are Smartphone Industry Investment Fund, Semiconductor Industry Investment Fund, College Student Entrepreneurship Development Support Fund and Guochao Brand Support Plan Fund under the name of Sprout Investment, etc.

The cumulative investment companies have already exceeded 400, and most of them have survived, and some are still doing well.

In addition, there are investments from joint venture companies such as Haode Map.

The above investments are all added together. Although it is not a new bud, it definitely occupies a large business territory, and the total valuation has already exceeded 200 billion.

Even this was the result of Zhang Shuo's utmost restraint.

For investments that are not closely related to the budding business, such as investing in start-up companies such as Shou Shou, Zhihu, Character Jump, Bubble Mart, and UC, Fenglei Fund is involved.

Germination was not involved.

This has also led to the saying that as start-ups such as Shou Shou began to emerge, Fenglei Fund CEO Chen Lu became a Bole in the venture capital circle, and was even hailed as the angel investor with the most investment vision.

Every time you bet, you will win.

Among operating assets, the largest proportion is physical assets. In addition to the Germinal Industrial Park, there are also office buildings and other fixed assets distributed across the country.

Including electronics factories, logistics parks, wafer foundries, etc., can be classified as physical assets.

In addition, operating assets also include intangible assets. As a world-renowned large-scale group company, Sprout Group's own brand intangible assets are extremely valuable.

All of the above combined make the asset-liability ratio of Germination no more than 30%.

No wonder Cai Feijuan said she is very healthy.

Take Tengda, the company with the least money shortage, as an example. In 2021, its assets totaled 1.6 trillion, its liabilities totaled more than 700 billion, and its asset-liability ratio was 45.6%, which is much higher than the current level of Germination.

It’s no wonder that a comparison chart of “Those who owe money to the bank VS those who deposit money in the bank” has become popular all over the Internet.

It really shows some kind of cruelty in it.

"Then issue 10 billion three-year corporate bonds."

Zhang Shuo also decided to play a big one.

"Can."

Cai Feijuan nodded and took note, and suggested with a smile: "If you want to further improve cash flow, you can consider promoting the listing of subsidiaries like Qinghe Technology that are profitable but not large in scale."

With Weixin in hand, Qinghe Technology can definitely tell a good story in the stock market.

"Qinghe Technology's separate listing is not an optimal solution."

Zhang Shuo shook his head and refused, "If we really want to go public in the future, we have to bundle Qinghe Technology with Qingyun Data, Jade Bird Interactive Entertainment, etc., in order to truly gain the approval of investors."

This chapter is not finished yet, please click on the next page to continue reading the exciting content! The business connections of the three subsidiaries are too close, and it will not be easy to promote the listing of one company alone.

What's more, say.

Zhang Shuo has planned to start the incubation work of the short video business in the second half of the year. If Qinghe Technology is listed before then, the short video business will have to be separated and a new subsidiary will be established.

It will push the current budding system into an even more bloated state.

It's really not a wise choice.

Zhang Shuo is thinking about how to appropriately merge some Internet businesses to streamline the organizational structure.

"Understood."

Cai Feijuan's expression was slightly dull.

Obviously, she has not yet reached a real tacit understanding at work with the big boss.

But in fact, Cai Feijuan thought too much.

Zhang Shuo doesn't seem to pay much attention to the big and small things that happen in the company, but in fact he knows all about them. For example, Cai Feijuan, after taking office, started to improve and transform the group's financial system while getting familiar with the work.

Very vigorous and resolute.

Some of the adjustments and changes that were planned to be implemented really made Zhang Shuo's eyes shine and he had to admire him——

“As expected of a professional!”

So overall, Zhang Shuo's first impression of Cai Feijuan was good.

I believe that in the next six months to one year, under the leadership of Cai Feijuan, the group's financial system will at least undergo a comprehensive improvement, not to mention rebirth.

This is much better than Han Mei, who only knows how to work but cannot focus on the overall situation.

It is indeed worthy of this position.

………

As soon as Cai Feijuan left, Zhang Shuo unexpectedly received a call from Xu Jia, saying that he would treat him to dinner that evening.

"It's strange that you took the initiative to invite me to dinner. Are you looking for me for something?" Zhang Shuo was instinctively wary.

"I can't come to you when I have nothing to do. Or are we no longer childhood sweethearts?"

Xu Jia, who was on the other side of the phone, couldn't help but roll his eyes.

"Okay, send me the address."

Although he had already guessed that Xu Jia might be in trouble, Zhang Shuo still decided to go to the appointment. As Xu Jia said, the two were "childhood sweethearts" and there were not many people who could ask him for help.

I rushed to the restaurant in the evening and found that this girl Cai Miaomiao was also there.

It is even more clear in my heart.

Sure enough, as soon as she met Zhang Shuo, Cai Miaomiao turned into a bitch, helping to carry bags, move chairs, serve tea and pour water, and even help pick up vegetables. She served him clearly and indifferently.

"Tell me, is there anything you need me to do?"

After three drinks, Zhang Shuo finally got down to business.

"Hey, brother, you understand me."
To be continued...