However, Liu Moudong made all the major shareholders who entered the market first through mediation, including Tiger Fund, recognize this, saying that this is not a loss, so that the financial report will look good (for Tiger Fund, they also know that Tengyun's entry is good for the company). So in this case, as long as the preferred shareholders can settle, financial reports can be made without the GAAP financial rules.

At the same time, Tengyun's financial report makes a profit for ten thousand years, especially the stricter it follows the gaap rules, the more profits it makes. This is the same reason. Because many of Tengyun's profits are not made by its own business - even if the businesses that directly make profits like games are included, at most only about half of the profits, and half are directly invested by investment and appreciation.

The specific algorithm is the opposite: the other party's company is currently worth 8 billion. If you want to raise 2 billion, the total value after financing is 10 billion. Tengyun also has to give 2 billion according to the industry rules to get 20% of the equity, but he just needs to say to people, "I will only give you 200 million, and I will sell the remaining 1.8 billion to you according to the 'a button on WeChat worth 1.8 billion'." In this way, Tengyun's financial report shows "invest 200 million to maintain value" and "sell the portal right of a button in WeChat for a few years, and it will cost 1.8 billion." This 1.8 billion is the profit under the gaap rule.

So in fact, Tengyun currently shows a net profit of more than 70 billion yuan per year, which is actually the result of Xiao Ma deliberately trying to keep a low profile. If he is willing, it is okay to double the financial report at any time. He just doesn’t want to scare the Industrial and Commercial Bank of China or Tobacco Corporation. Because as long as he is willing, all behind-the-scenes investment transactions that “sell the right to use a button on WeChat” today were calculated using a discount algorithm, and the difference in "invest less money and get more shares" was included. It was too easy to make a net profit of more than 100 billion yuan per year.

I didn't want to write so much, but I want to slap some guys who like to use "Goudong's recent financial report has also been profitable" in this chapter, so I can only talk nonsense. You can take the 50 cents of Goudong. I won't talk nonsense if there is more insider information. Just go to the official account to read the recent replies of Brother Xiao Ma to "Tengyun You Don't Have a Dream".)

...

Of course, the Goudong model is purely a loss, so it can only show off its "sense of social responsibility" and emphasize how many couriers they directly hired, how much social security they paid, and how much employment problems they directly solved.

But these things are ignored.

The Nasdaq listing rules like business models and advanced, while the Gaap rules have both high profits and revenue, and the growth curve is still Midea.

Although the Taobao model is often attacked by moral figures in China to "destroy the real economy", "eliminate employment", "build your own light asset platform, and throw the burden to society after getting rich" - but who made Nasdaq just like this?

So, to put it bluntly, the Ali model is no longer needed the help of Lawyer Liu.

Even if you find a top five firm in China, you can still succeed and it will be smooth. The underwriting price of a broker can be negotiated well (well, in fact, the negotiation of the broker underwriting price has nothing to do with the entrusted law firm. That thing is not discussed by a lawyer. The lawyer only cares whether it can go public or not, whether it is legal.)

At the same time, the lawyer Liu, who Jackma mentioned on the phone, took on some unlucky businesses, which was a negative impact. The discount made Jackma even more want to draw a line with those guys who "can only rely on their relationships to idiot".

It is actually not a question for Lawyer Liu to be told about this.

The truth is this: Ma Feng mentioned that Zhen Ai Jiayuan also gave lawyer Liu money, which was still hundreds of millions, and then bought lawyer Liu to act in their Nasdaq IPo.

The money was given last year, and the expected operation period is two years and will be successfully listed next year.

It was nothing at all.

But the key is that Zhen Ai Jiayuan's company has been attacked by public opinion recently, and its valuation has dropped. It is estimated that someone wants to withdraw the capital ashore, or at least stop increasing the capital.

As for the reason why True Ai Jiayuan was attacked by public opinion, it is actually related to Feng Jianxiong's verbal whispering people when he was discussing the battle with Zhou Hongyi in the past few months: True Ai Jiayuan was originally a website that mainly asked girls to charge low prices or even read letters and appointments for free, and then asked boys to charge high prices. Then, people were given online dating and cheating on relationships, and there was more or less a little (there was no way out, all online matchmaking agencies would be targeted by the sale of peace agreements)

Then, in the debate with Zhou Hongyi, Feng Jianxiong took the "Counterclaim Case of the QQ Group Leader of the Planting Flower Female Rights Alliance" and directly criticized the economic failure of free and said the saying "If a service is free, it may be just because you are also regarded as a commodity."

At that time, someone left a message on Feng Jianxiong's Weibo, asking, "Is this model equal to the old-bumblebee model?"

Then Feng Jianxiong replied sternly: "How can this be equal to the old-maprien model? The old-maprien wants to give money to his sister. Isn't that insulting women? The women involved in this case are all very self-esteem. None of them think they are selling, and they are really just making an appointment. The fees are also charged for agency fees, not women's tickets."

Feng Jianxiong did not name a certain online marriage website when he said that.

However, public opinion later "spontaneously" fermented.

Some bad people are hyping up online to criticize several major dating websites, using the behavior of "taking tricks under the name of a marriage agency", calling on the majority of self-love girls to boycott these marriage agencies and return to traditional offline, although the fees are higher.

This was really not done by Feng Jianxiong, at least he did it directly.

It would be no benefit if he did it, so he had no motivation to do it.

It is probably done by some offline matchmaking companies that have been snatched from their business by dating websites, well, that's it.

Then, the boss of True Ai Jiayuan was forced to get angry. Because the market reputation deteriorated rapidly, investors refused to follow up on capital increase. Seeing that the capital chain could not last until next year, she started to use the commission agreement with Lawyer Liu to fool new sources of funds in the circle.

"Brother? Are you Sequoia China interested?"

"idg, do you want to vote for me?"

"Tiger Fund X? Our company will definitely succeed next year. At this time, investing in us will be quick and short. You can cash out and go ashore with just over a year. You will be silly American ordinary investors who are stupid!"

"What? Why do you think I can guarantee that the business data has dropped so much and that it can be listed on schedule? Don't you know that the listing lawyer I entrusts is Lawyer Liu? If you don't believe me, go to the circle to inquire about which listing case Lawyer Liu has received was not successfully listed? No matter how bad the business data is, he can always find a way to help me fake it! But do you believe that Lawyer Liu's golden sign? "

The boss of True Love Jiayuan is eager to consume the reputation of the law firm he has entrusted, endorsing his "listing success rate" and continuing to cheat investment.

But when Lawyer Liu heard about this, he had the intention to kill this client.

If I had known that it would be like this, why would I be greedy for the 200 million to 300 million lawyer fees from this company?

Money was made, but my reputation was damaged.

At this moment, Jack Ma accepted this setting and came to him.

According to Jack Ma's opinion, as long as Ali's listing is operated well, the 500 million yuan lawyer fee will still be a penny. But he felt that "still asking Liu Sheng to do this matter has a disgrace to Ali's reputation."

How disgusting is this attitude?

People clearly told Lawyer Liu: You make money and you still do things, but don’t make it easy. You are not allowed to record this money into your life experience and achievements. You just do it quietly. Ali can’t afford to lose this person.

Lawyer Liu would rather get less than 300 million yuan than take down the naming right of "Ali also made me" - this is his golden signboard that will never defeat his golden body in his life. The endorsement value of his "goodwill" is far more than 300 million yuan.

But Jackma insisted on suspicion of him, and he could only swallow his anger. While giving discounts, he allowed Jackma to find some other consultants to share some work, and then make various concessions...

Never done such a disgusting business.

...

From then on, when other people in the circle talked about this, their tone seemed to be like this:

"Lawyer Liu? Oh, he is really awesome, he is indeed the first listed lawyer in China. But I heard that only companies with their unreliable strength need to do all off-market resources to find Lawyer Liu to go public.

Those big companies that are really capable and have tough financial statement indicators can actually save money. If you spend 70 to 80 million and find an ordinary law firm, you will be successfully listed!”

"Cha? You said why did Baidu NetEase have to look for lawyer Liu back then? Today, you can't look for tough big companies? Are you stupid? Can you compare with now more than ten years ago? When NetEase went public, our GDP in China was only eighth in the world, and they were all ranked behind Yidaili. At that time, even if the company ranked first in a certain sub-sector in China, it would not be very valuable to get it internationally.

But now we are all second in the world. We are so strong that we monopolize a giant in a certain Internet field in China. Are we not worthy of listing on Nasdaq with our true strength? We still have to take advantage of our own opportunities?"

The public opinion in this circle has not been rampant at this moment.

But in the next two years, it became a consensus among people without realizing it. But the source of this public opinion maker could not be found.

When it came to that point, it seemed that "only you can go public successfully with Lawyer Liu", but instead became synonymous with "the company itself is not strong enough".

Lawyer Liu was so angry that he felt a few mouthfuls of old blood that made him vomit.

He obviously did not make a single order and always maintained his unbeaten golden body of "helping Chinese companies to go to Nasdaq to list at 100%," but can anyone succeed in robbing food?

The most annoying thing was that he didn't even understand which harmless guy was secretly ignoring him.

Could it be the "man" who snatched away his most fattest orders?

He shot a figure in the dark, and he would never doubt it until the death.

﹉
Chapter completed!