Reborn Entrepreneurial Giant

"Glory is an innovative company, but innovation is a high-risk activity. How can we correct mistakes quickly, how to maintain internal vitality, and how to treat losers in innovation..."

"Separate blunders and mistakes in exploratory experiments from inadvertent negligence to advance work from violations for personal gain..."

Qu Li is perfecting the management system in Glory, and wants to establish a comprehensive fault-tolerant feedback and correction mechanism internally. Responding to the risks brought by innovation is only one of them, and the more important thing is to avoid the risks caused by the wrong decision-making of the management.

This issue is relatively high-end, and it is still in the process of discussion, and no specific plan has been formed yet.

Before the release of Glory 5, Fanxing Fund, Xiangjiang Fortune, and Huanghe upstream and downstream companies formally signed an agreement to jointly develop the integrated project of water, light and animal husbandry in Talatan, of which Huanghe Company is the main body of operation. The conclusion of this agreement means that Fanxing Fund has officially launched its own public welfare undertakings.

Not many domestic people have paid attention to this news, and more people have discussed Zhang Yiwen, because Xiangjiang Fortune has officially announced that it has taken control of China United Insurance, an insurance company that has fallen into losses and is heavily indebted.

The specific acquisition plan is very complicated. As a state-owned private local state-owned enterprise, Xiangcai paid a much higher acquisition price than Dongfang Assets, investing about 8.5 billion to hold 51%.

China United Insurance is quite special. It has property insurance and life insurance at the same time. Although it made a profit last year, its debt ratio is very high, and its solvency ratio is lower than the standards of relevant departments, let alone this insurance company that grew up in the border areas. , the internal governance capability is in doubt. Those who belong to the kind of people who want to buy are not qualified, and those who are qualified don't want to buy because of the trouble. State-owned private financial holding companies are barely qualified.

In this way, Xiangjiang Fortune has gathered financial licenses for insurance, banking, securities, funds, trusts, small loans, etc. It should be regarded as a financial holding company with full financial licenses.

This is not a novelty, many state-owned capitals have done it. However, Zhang Yiwen, a beauty who frequently appeared in public instead of Xiangjiang Fortune, not only showed excellent work ability, but also a big beauty, which produced a chemical reaction of "breaking the circle".

Zhang Yiwen went from securities private equity, self-established business to the acquisition of Xiangjiang Investment, and returned to public offering, leading Fortune Fund to become the top 10 public offering funds in the country, making Xiangjiang Investment the top private equity fund in China, and naturally becoming the spokesperson of Xiangjiang Fortune. His whole life is full of joy legendary color.

Some people call Zhang Yiwen the "Goddess of Finance" in China. She has established an encyclopedia post bar, and there seems to be a fan club. Chen Danlin has everything she has.

"Why did Xiangjiang Fortune acquire China United Insurance?" a reporter asked Zhang Yiwen

"Because we want to collect all financial licenses." Zhang Yiwen said with a smile: "Just kidding, we think this price is acceptable. There is still a lot of room for growth in the domestic insurance market, but the channels will undergo tremendous changes. As a percentage of it..."

Zhang Yiwen gave a detailed explanation of the acquisition in the media interview, optimistic about the development of the insurance industry, and confident in the insurance business.

She has the confidence to say these words, relying on Qu Li’s relationship, she can enter the channels of BYD and Future Geometry; after that, she can also cooperate with Jumei Finance to carry out various life insurance businesses, such as investment-linked insurance, life insurance, and million medical care insurance etc. That is to say, regardless of whether the previous team of China United will act as a monster or not, Zhang Yiwen can promote the growth of the company's performance, and then rely on "performance" to speak and gain actual control of the company.

There are many cooperations between Xiangjiang Fortune, Jumei, and Glory. Interested people have already suspected the relationship between Zhang Yiwen and Qu Li. There are many "rumors" about the two on the Internet, but fortunately, not many people believe it.

It's a pity that the cooperation will continue, and the gossip and rumors will continue. The Jumei version of Yu'e Bao has already undergone a small-scale internal test, and it will be officially launched after the two sessions next year. Why did you choose this time? There are so many reasons, there is no reason!

Jumei intends to sell insurance and wealth management products. Referring to Ant, after ten years, the money they earn from selling insurance will account for 8% of Ant’s total revenue, and the money earned from wealth management and fund sales such as Yu’e Bao will account for about 15%. Baidaibei accounted for 35%, and payment of transaction commissions accounted for 42%. Considering that Ant's overall revenue exceeds 100 billion yuan, it seems that it is not small, and the domestic insurance scale has reached 4 trillion yuan, which is a very large market.

After completing this acquisition, the layout of Xiangjiang Fortune in the financial sector is basically complete, and it will be managed with care in the future: "Don't put on airs, Jumei Glory's traffic support is very important, but the company's own professional ability is the foundation..."

"Don't worry, although I'm not as good as you, I'm not a simple person." Zhang Yiwen said confidently

Qu Li didn't have much interest in Xiangjiang Fortune. Although he was the single largest shareholder of the company, the assets would eventually be left to his and Zhang Yiwen's children, and the control was in Zhang Yiwen's hands. Qu Li can only indirectly affect the operation of this company.

Another similar one is Vision Investment. Qu Li was originally the majority shareholder of the controlling shareholder. Later, he divorced Jumei and Glory for listing, but there are still many assets managed by them through the "Tianming Fund".

Tianming Fund’s industries are mainly equity investment and stock assets. For example, it is still the major shareholder of Twitter, holding shares in Dongying Itochu and Sony, and domestic photovoltaic lithium battery companies. These are all in charge of Chen Danlin. She also controls assets including Fenghua. China (Danlin women's clothing and Shein), Yinghe Telecom, Yinghe Real Estate.

As for Qu Li, he holds about 30% of the shares in Glory and Jumei, and has more than 70% of the voting rights, but he has promised to donate all of them to the Fanxing Fund. In the future, Qu Li will give up his super voting rights, allowing Fanxing Fund to have a veto power over Jumei and Glory.

In addition, Fanxing Fund established Galaxy Power, invested in sea rice, quantum communication, photovoltaic pastures, and ant forests. Many vest companies may be established on these basis.

There is also Fanxing Fund that controls Future Geometry. Through this IPO in Xiangjiang, Qu Li became the largest individual shareholder of Future Geometry, holding about 7% of the shares; Jumei controlled Xiangyun, which has been listed on the A-share market. Qu Li has no shares At the same time, Jumei is also the controlling shareholder of Time, and Qu Li personally holds a small amount of shares in Time (WeChat), which seems to be around 7%.

So it should be very clear, right? The seemingly complicated system, in fact, Qu Li needs to devote a lot of energy to Jumei, Glory and Future Geometry, followed by Galaxy Power; as the two companies mature, Qu Li may be directly responsible for only Future Geometry and Galaxy Power in the future . Other businesses such as Xiangjiang Fortune, Yinghe Real Estate and Jumei Glory are more or less related, but his woman is in charge.