Wang Qiong nodded and said, "That's right, it will definitely be a deal today."

Chen Nanpeng also said, "I think so too."

Seeing the two of them singing and reconciling, Shang Fuhai asked them: "Sister Wang, Dong Chen, if I say I want to replace the shares of Toutiao and JD.com, I will see that these two companies here meet my requirements."

Before Chen Nanpeng could speak, Wang Qiong said directly: "Brother Shang, since I have brought the information to you, it means I have this preparation. If you insist on using Toutiao's shares to replace them, it is OK, but you definitely cannot use the valuation price of the previous round of financing. You have to give a part of the premium, or after the financing at the end of the month, we will use that round of price as the replacement price."

Chen Nanpeng said: "I'm relatively simple. If you want to replace JD.com's shares, it's better to use the current stock price. It's normal for the stock market to rise and fall. I don't have many shares in JD.com, which is less than 3%. Based on the current price, I'll take a look..."

Speaking of this, Chen Nanpeng really took out his mobile phone, opened the Securities APP and took a closer look. Then he said: "According to the price he had first, the total market value is 42.576 billion US dollars, which is less than 1.8 billion US dollars lower than Baofei Mall. I will use cash to make up for the rest. What does Shang Dong think?"

"Old Shen, you are not very authentic. Why do I look at you with a rush to take away JD.com's shares?" Shang Fuhai looked at him with a smile.

Chen Nanpeng shook his head slightly: "It's wrong for Dong Shang to say this. You chose JD.com, and it was not recommended to you. Why did I want to rush to take it off? This is wrong."

"In addition, the benefits this year are indeed not as good as last year, but JD.com's plate is placed there, regardless of the scope and layout of its business, and we must not just look at the moment when investing."

"But I heard that Liu had an accident in Minnesota last month." Shang Fuhai pointed.

"..." Chen Nanpeng was speechless. Boss Shang was very unauthorized. Is this kind of thing still a big deal? At this time, I deliberately mentioned it, what is this? I deliberately lowered the price?

Seeing that he didn't speak, Shang Fuhai looked at him with a sceptical look, and then said, "Do I have that decline? I said that if I trade stocks for stocks, we can calculate it based on today's stock price."

After saying that, he turned his head and looked at Han Zhengyu and shouted, "Kevin, come here."

"Boss, is there something wrong?" Han Zhengyu asked softly.

Shang Fuhai said: "Just at the current price, you can calculate how much the shares of Mr. Chen are worth in JD.com. I will exchange 3% of Baofei Mall shares with me later, and you will give me a result later."

"This..." Han Zhengyu hesitated and did not agree immediately.

Shang Fuhai asked him: "Kevin, what's wrong? Do you have something to say?"

At this critical moment, Han Zhengyu did not avoid Chen Nanpeng's presence and said directly: "JD's recent market is not very good. Since 2018, JD's profit margin has been falling in the first quarter and the third quarter forecast is not very good."

"In addition, JD.com's Director Liu had an accident in Minnesota some time ago. Although he came back, there were still many troubles in the future. Like the boss, Mr. Liu is the soul of JD.com. If such a big thing happens, there will definitely be other impacts in the future. Judging from the market, JD.com's stock price will fall for a long time in the future." Han Zhengyu said seriously.

"So, it's a bit worthwhile to exchange JD shares?" Shang Fuhai asked him.

Han Zhengyu nodded at that time, which made Lao Shen look bad. He thought to himself, why don’t you, a young young man, know how to adapt? At least respect me, the old senior.

It would be impossible not to speak. Chen Nanpeng said, "Dr. Shang, what did we say just now? You chose the project for stocks, right? If you think JD.com is not good, I have many other things here. Tuniu is not good, Ele.me is not good. If you don't have it, you can choose again, right!"

Shang Fuhai shook his head, he looked at Han Zhengyu and said, "Kevin, just JD.com, I'm not familiar with other industries."

"OK!" Han Zhengyu stopped talking nonsense.

What he wanted to express was already said. He would not question the decision of the boss, just follow it and execute it.

The exchange of shares with Wang Qiong was relatively smooth, and Shang Fuhai undoubtedly chose Toutiao shares.

He also joked that he was so coincidental that he had a fight with Toutiao again.

"Sister Wang, Toutiao's valuation was 31.5 billion US dollars in the previous round, and I won't say what the next round will be. Let's exchange it one-to-one. What do you think?" Shang Fuhai suddenly increased Toutiao's valuation by 12.8 billion US dollars, a premium of 40%, full of sincerity.

Wang Qiong thought for a while and said, "Okay, I'll suffer a little this time. Let Brother Shang once, let's just do it."

In fact, Wang Qiong was quite satisfied with the price. She initially bought a large number of Toutiao shares from Zhang Yiming at a very cheap price.

Don’t say that since you are optimistic, why don’t you keep holding it until you go public? That is not in line with Haina Asia’s investment strategy.

After all, investment is all about making money.

In addition, Haina Asia's investment starts with the angel round, and usually part of it will be cashed out in the B round or C round.

It is unique to be able to get it from the Angel Wheel on Toutiao today.

However, compared with the initial investment of several million US dollars, now based on the valuation of 44.3 billion US dollars given by Shang Fuhai, it has made a lot of money.

ByteDance is going to conduct a new round of strategic financing on the 28th of this month, Wang Qiong is directly ignored. She has reason to believe that with Shang Fuhai's shamelessness, if he doesn't exchange shares with him now, even if ByteDance's valuation is higher than the current US$44.3 billion, Shang Fuhai will be silly and ruthlessly increase the price of Baofei Mall.

Who dares to say that their company will not develop and will not move forward?

The team brought by Han Zhengyu and Shen Nanpeng and Wang Qiong were busy for nearly a day, and finally finalized the share replacement agreement.

Haifei Capital used the shares of Baofei Mall held by Shang Fuhai to obtain a total of 2.83% of JD shares in Chen Nanpeng, with a total of 44.1197 million shares, which was calculated based on the price of US$2763 per share, with a total of 1.219 billion yuan.

The 3% Baofei Mall shares that Shang Fuhaiyun gave him were worth 1.329 billion US dollars. Calculated, Chen Nanpeng had to pay Shang Fuhai another 110 million US dollars in cash.

Shang Fuhai did not mention the share replacement matter and accepted this cash directly. He wanted to live a decent life, but after all, he still had to have money on hand.

On the other hand, it was easy to exchange shares with Wang Qiong. After one-to-one shares exchange, Haina Asia's shareholding in Toutiao dropped to 25.31%. After two consecutive operations, Haifei Capital's shareholding in Toutiao reached a new height of 19.62%.

Yiyue passed the Sequoia China, which was ahead of him, and truly became the third largest shareholder behind Haina Asia and Zhang Yiming himself.

However, in order to achieve this step, Shang Fuhai also paid a great price on the way, and it is hard to say who made a profit or who lost it.

Including his shareholding ratio of Baofei Mall has dropped to 65.28%, while Sequoia Capital and Haina Asia have increased their shares by 3% after this round.

Sequoia Capital's shareholding ratio once reached 10.196%, and Haina Asia's shareholding ratio also reached a high proportion of 9.119%.

In addition, according to his previous promise, Shang Fuhai had to take out 15% of the shares he held and put them in the stock option pool of Baofei Group as a stock ownership plan for Baofei Group and an equity incentive plan for backward talents.

In this way, Shang Fuhai needs to take out shares equivalent to 9.792% of the total share capital of Baofei Mall, and he only has 55.488% of the shares left.

This cut nearly 30% of it all at once, but I feel sorry for Boss Shang.

Overall, Shang Fuhai still agrees with this transaction, at least it is much better than a simple cash transaction.

What is investment not investment? Who dares to say that the benefits generated by investing in other targets will definitely be higher than the profits given by JD.com and ByteDance in the future?

After the preliminary calculation of this transaction, the rest is to find a third party to notarize it and then sign the relevant contract.

Because the shareholding ratio has increased significantly, a written explanation must be submitted to the shareholders.

He was busy until the evening, and Shang Fuhai personally cooked a table of delicious food to entertain Wang Qiong and Shen Nanpeng.

The food he cooks now is not as delicious as his own nanny Wang Xiaomei, but Shang Fuhai’s meaning of cooking is different, and he is very sincere!

Wang Qiong also filmed a few short videos behind him and uploaded them to the photographer account.

She said: "Brother Shang, it would be great if you were born 20 years ago."

"No, I will be born 10 years ago. My sister will definitely pursue you." Wang Qiong was not afraid of speaking at all.

Shang Fuhai didn't want to pay attention to her and didn't reply.

After cooking the last dish, Shang Fuhai personally brought out the fried dishes. Looking at the table of dishes with all colors, fragrance and flavor, he felt full of accomplishment.

"Dr. Shen, Sister Wang, it's okay tonight. Let's have two more drinks tonight and we'll meet in Beijing next time."

After all the people sat down, Shang Fuhai said.

When I go to Beijing again, I am preparing to raise the D round of financing for short videos by shooting customers.

During this period, Liang Rubo has been busy with the financing of short videos by photographers alone.

When Wang Qiong heard him say this, he shook his head directly: "When I raise funds for short videos, I will go there. At that time, I will add some funds to maintain the current shareholding ratio of Haina Asia. We will no longer follow up."

"Sister Wang will not vote? Are you not optimistic about the future of short videos for photographers?" Shang Fuhai asked immediately.

Wang Qiong really wanted to vomit his face and said, "Brother Shang, don't put a big hat on me anymore. Since the last Toutiao stock transaction and the transactions in these few times, you have emptied my funds. Do you think you are counting on me to participate in the financing of shooting short videos?"

Shen Nanpeng also said: "Dong Shang, I can't go through the D round of financing for Paike Short Video."

Shang Fuhai was stunned!
Chapter completed!