For unlisted IT companies, it is difficult to judge the actual value.

Generally speaking, look at the income, look at the same type, look at the assets.

But the same type, nowadays, Yuanfang e-commerce can compare with fewer, and the returns and assets can be seen.

However, e-commerce also needs to add future expected profit calculations.

The valuation of 70 billion proposed by Chen Guojun and others before was not data given without reason, but was calculated using the cash flow discount method.

However, this calculation model is not objective enough for today's distant malls.

At this moment, before defeating the treasure, the Far East Mall was still in a period of seizing the market and generated not much cash flow.

70 billion, naturally, it cannot be satisfied.

Neither Teng Xun nor far away would agree.

Of course, Chen Guojun and the others did not expect the distance to agree.

But no one will accept the 250 billion that Tan Haiying said.

If the valuation is really 250 billion, the shares they hold will be diluted more than half.

...

When Li Dong seemed to have inadvertently reported "150 billion", no one said anything in the conference room for a long time.

Is 150 billion worth?

More than US$20 billion, this valuation is definitely not low.

But now that the listing is about to be launched, Yuanfang Mall may not be as good as Amazon. The gap between the two is actually not too big.

One is about the wide coverage, and the other is about the large upward space.

If it can match Amazon, the value of distant malls is expected to exceed the 40 billion US dollar mark.

Of course, it is not objective to compare the profits after listing when they are not listed.

Otherwise, Yuanfang Retail could do this.

Li Dong reported 150 billion, and everyone was thinking about the gains and losses, and no one spoke for a while.

I don’t know how long it took, but Xu Shengzhe, who had not spoken much, smiled and said, “150 billion is not low, especially the treasure collection has not been counted.

Add to that, I agree with the valuation you said.

But now, Dabao still needs to wait until the mall integrates before purchasing.

If the US$4.5 billion of the treasure was added, the value of the e-commerce system in the Far East would be as high as 180 billion.

Li Dong, don’t you think this valuation is a bit too high?”

Tan Haiying wanted to speak but stopped, Li Dong didn't let her speak, and said with a smile: "150 billion is really high?

I don’t talk about how much you can make after going public. This is nothing, and it’s meaningless to say it.

Just say that now, Yuanfang Mall's revenue exceeded 300 billion this year is a foregone conclusion, and the transaction volume of Wanjia.com has also exceeded 100 billion.

For self-operated business, gross profit must exceed 12%.

Next, the investment in logistics and warehousing will be invested by the logistics group and will no longer be related to the remote mall.

In this way, the net profit of the mall will rise sharply.

More than 10 billion yuan is the benefits that Yuanfang Mall can bring to everyone every year.

At this time, do you think 150 billion is really high?”

In the early stage of e-commerce, when laying logistics and warehousing channels, spending a lot of money and investing a lot.

But now the dismantle is being split, and there is no account of the mall.

In this way, the profit margin of the mall is very high.

Otherwise, logistics and warehousing will be spending through the mall channel, and the mall will lose money every year.

Li Dong continued, saying: "Actually, I have talked to some global assessment agencies, including some investment banks. Yuanfang E-commerce's valuation is far more than US$20 billion.

You should know that we are the world's number one, not China's number one.

And we are now mainly focusing on the domestic market, which is a disadvantage, but it is also an advantage.

The advantage is that we still have a lot of room for development.

Of course, the disadvantages are also obvious and the limitations are somewhat large.

Under the combination of advantages and disadvantages, it is better to be considered equal, but the value of the distance is still greater than that of Amazon.

150 billion is the valuation I have given for a long time.

I have said before that the distance is more about sharing.

Sharing of interests is also the basis of our cooperation.

If you really feel unacceptable…”

Li Dong said lightly: "Then you can choose to exit at this time.

For Yuanfang Retail, the group gave a valuation of 222 billion yuan, which is more than the actual value.

Compared to when everyone invested, the increase was more than 100%.

At this time, you think that the valuation of e-commerce is too high. I will buy back the shares in everyone's hands with a value of 222 billion, and it should not be unfair to anyone.

In less than a year, I will give you 120% return. I think no one will think that I, Li Dong, are you sorry, right?"

In the crowd, someone immediately laughed and said, "Mr. Li was joking. Who doesn't know that Mr. Li is kind and righteous? We are following Mr. Li to make money. How can we say sorry to anyone?"

If Li Dong wants to repurchase his shares, he will repurchase them at the current offer, which is indeed a righteous person.

In fact, at this time, Li Dong only gave them two choices, whether to agree or withdraw.

Now that you exit, everyone will make a profit.

There is no need to take risks. After all, how is the listing? Although the expectations are good, it is really hard to say what the specific one is.

But there is no risk now, it does not mean there is no risk in the future.

Now exiting the Far East also means withdrawing from the alliance, and Far East Investment still holds 20% of their company's shares.

Li Dongke did not say that these shares would be returned. At that time, he lost the protection from the distance, and some channels that were controlled by the distance.

The distance wants them to be finished, not far away.

It is difficult to abolish alliance companies from afar.

Non-alliance enterprises, facing such a giant as a distant place, will be swallowed up in an instant.

Someone spoke, and someone immediately responded: "We can accept 150 billion..."

The speaker doesn't care what others think of him. When facing the distance, they have no room to bargain.

Now, besides accepting, you can only exit.

But after quitting, your company is not far from over.

When there is no way out, accepting the concept of the strong is the best choice.

Some people chose to accept it, and soon many people compromised.

This year, we have also tasted the sweetness of cooperating with Yuanfang. We don’t have to worry about invasions from other companies, nor do we have to think about many things.

For small and medium-sized enterprises, relying on the strong is an instinctive choice.

As for ambitious people like Shen Guojun, even if they are unwilling to give up, it will be useless.

If you are unwilling to give up, you can only withdraw, but once you withdraw, you must beware of invasions from afar.

Although Intai is strong, it depends on who the opponent is.

I was not a distant opponent before, let alone now.

Once the alliance system is withdrawn, Intime will occupy a considerable retail market share in Jiangsu and Zhejiang, and will soon face a distant suppression.

Considering this, Shen Guojun finally sighed and nodded in agreement with Li Dong's plan.

As for Xu Shengzhe, he didn't say anything after saying it.

It’s not that he didn’t know Li Dong’s personality, so it was useless to oppose him at this time.

If he continues to object, Li Dong may even be kicked out.

Anyway, it is normal to clean up small shareholders when going public. At this time, there are fewer small shareholders, and no one will say that Li Dong is not.

...

With Li Dong suppressed him, the families quickly reached an agreement.

This time, Li Dong did not mention Dongyu Real Estate.

Anyway, the actual value of Dongyu Real Estate is that it is easier to calculate the value than that of the mall. Let’s wait for Qi Yunna to come back to comfort Dongyu, so as not to make a mistake.

After reaching an agreement, integration became much easier, and the equity structure of Yuanfang Retail also showed new changes.
To be continued...