The airplanearrived inHangzhoujustat noon, Li MuandLin Qingya and Ding Zhenglinthreepeoplefirstchecked into a Hangzhouupscalehotellow-key, after two peoplereturnedrespectively the roomplaced the goodbaggage, thenimmediatelyarrives at Room Li Mu's, the discussionmore specificnegotiationsstrategy.
飞机抵达杭城才刚刚中午,李牧和林清雅、丁正林三人先是低调入住了杭城一家高档酒店,两人各自回房安放好行李之后,便立刻来到李牧的,探讨更具体的谈判策略。
The Hikvisionsituation, Zhao Xianliangtois similar, generally speaking, wasonegroup of awesomepeople who Li Muintroduced the bitterjob who clenched teethto do, withoutmoney, prospectsome was not very bright, is hoping that found the personto invest, summarizesonIn short: Being short of moneyis the Hikvision main key.海康威视的情况,赵贤良已经给李牧介绍的差不多了,总体上看,就是一帮牛逼人咬牙搞出来的苦营生,没钱,前景也有些不够明朗,正希望找人投资,总结下来就一句话:缺钱是海康威视的主基调。ButLi Muas the presentdomestichigh-tech industrymost activeentrepreneur, he influence on the entireindustrywas needless saying that evencansay, the high-tech enterprise in national, will not refuseto come from the Li Mu'sinvestment.
而李牧作为眼下国内高新技术产业最活跃的企业家,他对整个行业的影响力自不用说,甚至可以说,全国的高新技术企业,都不会拒绝来自李牧的投资。However, the most essentialissueis: Li Muis notoneleads the investor of cashpurely, insteadis a relocationteam that leadsmoneyHedao.
但是,最关键的问题是:李牧不是一个单纯带着现金的投资者,反而是一个带着钱和刀的拆迁队。Hedoes not wantto invest the Hikvisiontraypurely, in that case, oneself can only be the Hikvisionshareholderto haveandenjoydividend in the Hikvisiondevelopment, actuallywithout the meanscontrolsHikvision, to makeitdevelopin the direction that oneselfwant, the most important thing is, Hikvisioninlegal principle theory of law , if notown, oneselfwould have no meansto conduct the newconformity.
他不想只是单纯投资海康威视的盘子,那样一来,自己只能作为海康威视的股东存在、享受一下海康威视发展中的红利,却没办法掌控海康威视、让它按照自己想要的方向发展,最重要的是,海康威视在法理上如果不是自己的,那自己就没办法对它进行新的整合。
The so-callednewconformity, conforms in Hikvision a newtray, makes a comprehensivemerger and acquisition.
所谓新的整合,就是将海康威视整合进一个新的盘子里,做一个全面的并购。By a Li Mudisbursing moneygroupnewtray, makingHikvisionfallitsoriginaltray, joinedtoownnewtray, letthemfrom the originalmaster, turnsshareholder who strove, thiswas not truly easy.
由李牧出钱组一个新的盘子,让海康威视把它原本的盘子摔了,加入到自己的新盘子里来,让他们从原本的主人,变成出力的股东,这确实不容易。IfHikvisiondoes not comply, orasks a pricetoohigh, oneself can only withthenpurchaseotherwith the Hikvisionsimilarcompany, becomes the most directcompetitorwithHikvision.
如果海康威视不答应,或者要价太高,那自己就只能用转而收购其他与海康威视差不多的公司,跟海康威视成为最直接的竞争对手。Ifallwere schemed the annexation the enterpriseto compare withhas the ordinary people in homestead, the enterprise of thatLi Muthisschemeannexationis the relocationteam and developer.
如果把所有被图谋兼并的企业比作是拥有宅基地的普通老百姓,那李牧这种图谋兼并的企业就是拆迁队、开发商。Somecommon peoplehope the eye that the relocationhopeswas green, awaits eagerlysimply, the relocationteamone, discusses the conditionimmediately, reached an agreementmovedwhole family, took the leverageownhouse and land for building, thenexchangingdeveloperseveralsuites;Discussed that is not the person who stubbornly resists movingwell, has consumed a more superiorconditionto appear.
有的老百姓盼拆迁盼的眼都绿了,简直是望眼欲穿,拆迁队一来,就立刻谈条件,谈好了举家搬迁,把自己的房子和地皮都拿出去套现,然后再换新开发商几套房;谈不好就做钉子户,一直耗到更优越的条件出台。Mayhave the common people who not to be relocated, would rather die than surrendermustcontinueto liveonthisbeloved places, thento the developer and relocationteam, can only be: Hascutting of ability, withoutdetouring of ability.
可有的老百姓就是不愿意被拆迁,宁死不屈的要继续生活在这片热土上,那对开发商、拆迁队来说,只能是:有能耐的就强拆,没能耐的就绕道。At present, Li Muas the relocationteam, comingHangzhouto make the firstrelocationto negotiatewithHikvision, withoutdeterminingHikvisionwhetheradmits„relocation”, must first determine that what price„house”reportedtoHikvisionthis.
眼下,李牧作为拆迁队,来杭城跟海康威视做第一次拆迁谈判,在不确定海康威视是否接纳“拆迁”的前提下,首先要确定的,就是给海康威视这个“宅子”报一个什么样的价格。
To makeHikvisiongive up the self development, with the 100%stocks, replacesin the future„Muye Vision”20%stocks, must first haveenoughconditionto touchthem.
想让海康威视放弃自身发展,用自己100%的股份,去置换未来的“牧野威视”20%的股份,首先就要有足够的条件去打动他们。HoweverHikvisionestablishes for merelyoneyear, but alsoatresearch and developmentstage, that without anyearningrunning waterandmarketfeed back, is very difficultto make an appropriateestimate valueto come out.
但是海康威视成立仅仅一年,还处在研发阶段,在没有什么营收流水、市场反馈的情况下,很难做出一个合适的估值出来。PresentHikvision, the maximumwealthcomprised oftwoparts, part came from 52state-of-arttalentscompletely, anotherpartis52existingscientific research achievements, is the soft strengths.
现在的海康威视,最大的财富由两个部分组成,一部分是全部出身于52所的尖端人才,另一个部分是52所已有的科研成果,都算是软实力。
The Lin Qingyabeforehandfindingsshowed, the Hikvisionbiggesttechnical superiorityis arranging the coding technologyas well asrear endstorage product, thesetwoaspectstheyhave52originaltechnicalprecipitations, thereforeresearches and developsis powerful.林清雅之前的调查结果显示,海康威视最大的技术优势是在编解码技术以及后端储存产品,这两个方面他们都有52所原本的技术沉淀,所以研发实力非常强大。However, Hikvisionalsohas the place of itsawkwardness: Itdoes not havesubstantivemarchfrontcameramarketnow, in other words, itcannot make the cameranow, but the camera, isin the Skynetsystemplan, one of the most importantlinks.
但是,海康威视也有它的尴尬之处:它现在还没有实质性的进军前端摄像机市场,也就是说,它现在是造不出摄像头来的,而摄像头,是天网系统规划中,最重要的环节之一。In other words, purchasedHikvision, Li Muinvestedmoneyto studyfrontcameratoHikvisioneither, eitherreceived a head of householdto make the enterprise of frontcamerasimplyagain, coming to be supplementarywithHikvision.
也就是说,收购了海康威视,李牧要么投钱给海康威视研究前端摄像机,要么干脆再收一家主做前端摄像机的企业,进来跟海康威视互补。Therefore, in the Hikvisionwhole is also a high technology and new technologyresearches and develops the enterprise, is not the hardwaremanufacturing enterprise, the mainlocalizationis the solutions provider that in the securitymonitoringdomainpartiallysubdivides the domain, but alsodoes not have the strengthmakes a connection withallsoftware and hardware, aroundto carry, becomes the securitymonitoringresearch and development, to produce, promoteandsells the company of a dragon
所以,海康威视整体上还算是一家高新技术研发企业,并非硬件生产企业,主要的定位是做安防监控领域中部分细分领域的方案供应商,还没有实力打通所有软硬件、前后端,成为安防监控研发、生产、推广、销售一条龙的公司In view ofsuchsituation, threepeoplediscussedlong time, eventuallyreaches the agreement: ByHikvision the situation, the enterpriseestimate valuecannotbe higher than50 millionnow.
针对这样的情况,三人讨论了很长时间,最终达成共识:以海康威视现在情况来看,企业估值不能高于五千万。Ding ZhenglinthoroughunderstandingclearLi Mu'sallconstructionplans, as well as after 50 millionpsychologicalprice, saidtoLi Mu: „Chief Li, the issue, Hikvisionand52are the state-owned enterprises, theirgoalsareto look for the development opportunityin the market, thereforetheirvisionsshouldbeverylong-term.”丁正林彻底了解清楚李牧的所有架构规划,以及五千万的心理价位之后,对李牧说:“李总,有一个问题,海康威视和52所都是国有企业,他们的目标是在市场上找发展机遇,所以他们的眼光应该还是很长远的。”At this point, Ding Zhenglinalsosaid: „In my opinion, nowwhatHikvisionlacksiscaninvest the fund that the enterpriserevolves, rather thansells offthatcash after enterprise, thereforewe , to establishMuye Visionto mergethem, must a broad development spacebe goodtothem, formoney, they is very purely difficultto comply.”
说到这里,丁正林又说:“在我看来,海康威视现在缺的是可以投入企业运转的资金,而不是变卖企业后的那点现金,所以我们如果想成立一个牧野威视来并购他们,就得给他们一个更广阔的发展空间才行,单纯为了钱,他们是很难答应的。”Li Munods, said: „To mergethesetraditional state-owned enterprisesin a complete mess is not difficult, butwantsto mergeHikvisionthisstate-owned enterprise that has the long-term goal and strategic planis not truly easy.”李牧点了点头,说:“想并购那些一塌糊涂的传统国企并不难,但是想并购海康威视这种有长远目标和战略规划的国企确实不容易。”Ding Zhenglinsaid: „Wehave nothingnowwith the securitymonitoringdomainhave the technological strength of direct relation, thereforewecanbringto investinto the Muye Visioneffective resourcenoware few, the soft strengthhard strengthis insufficient, perhapsis very difficultto moveHikvisionand52truly, mustfind the wayto strengthenustotheirattractions.”丁正林说:“咱们现在没有什么与安防监控领域有直接关系的技术储备,所以我们现在能拿来投入到牧野威视的有效资源很少,无论是软实力还是硬实力都不够,恐怕很难真正打动海康威视和52所,得想办法加强我们对他们的吸引力。”Li Mushows a faint smile, said: „Right that you said that thereforewemustprofoundlyanalyze the Hikvisiondemand, thenacts appropriately to the situation.”李牧微微一笑,说:“你说的对,所以我们得深入分析海康威视的需求,然后对症下药。”„Draws an analogy, Hikvisionis short of moneyisfirst, thereforewe, ifgiveshim the 50 millionestimate value, but alsowantsto makehimbe willingto merge intoMuye Vision, andonlyaccounts for the Muye Vision20%stocks, first estimate valuepacking of futureMuye Visiontotwohundred million, thisis the premise, howto fillthesetwohundred millionestimate values, is the issue that wemustconsider.”
“打个比方,海康威视缺钱是第一位,所以我们如果给他五千万的估值,还想让他心甘情愿并入牧野威视、并且只占牧野威视20%股份的话,就得先把未来牧野威视的估值填充到两个亿,这是前提,如何填充这两个亿的估值,才是我们要考虑的问题。”Ding Zhenglinsaid: „A actuallyfeasiblecapitaloperator schema, wecanfirstestablishMuye Vision, andliestwohundred millioncashin the Muye Visionaccount, as the matter stands, the Muye Visionmarket valueis200 millioncash, Hikvision, if after is willing, to have the conformity, by the Muye Visionmerger and acquisitionMuye Vision20%stocks, when the time comes, Muye Visionhas the hard assets of 200 millioncash, and Hikvision50 millionsoft strength, putting togetherwastwohundred million50 millionestimate values.”丁正林说:“倒是有一种可行的资本操作模式,我们可以先成立牧野威视,并且在牧野威视的账上趴两个亿的现金,这样一来,牧野威视的市值就是两亿现金,海康威视如果愿意被牧野威视并购、拥有整合后牧野威视20%的股份,到时候,牧野威视就拥有两亿现金的硬资产,以及海康威视五千万的软实力,加在一起就是两亿五千万的估值了。”Lin Qingyaalsonods saying: „Ifelt the means that Chief Dingsaidare very feasible, Hikvisionis short of money, these200 millioncashsignificancesare to them great, this means that oncetheyjoinus, theirallresearch areasinfusesomebigfunds, makingthemhave a quickerdevelopment; If not joinus, can only continueto eat the rice polishingsto swallow the vegetable/dish, to make a great effort the development, youthought that theydo willbe excited?”林清雅也点头说道:“我觉得丁总说的办法很可行,海康威视缺钱,这两亿现金对他们来说意义重大,这意味着一旦他们加入我们,他们所有的研究领域都将有大笔资金注入,让他们有更快的发展;如果不加入我们,就只能继续吃糠咽菜、勒紧裤腰带发展,你们觉得他们会不会心动?”Li Mupondered overslightly,says: „Directregistration company, lay200 millioncashsomesimple and crudes, Ifelt, ifwemade the attractionwith200 millioncashdirectly, onceHikvisioncomplied, becausewedid not have the deep understanding of thisindustry, in the future the right of use of thissum of moneywill basically take responsibilitybythem, as the matter stands, laterbetweenweandthem the balance was also very difficultto maintain, the sufficientabilityhas not kept in balance the Hikvisionteam.”李牧略微思忖,开口说道:“直接注册公司、趴两亿现金有些过于简单粗暴了,我个人感觉,如果我们直接拿两亿现金做吸引的话,一旦海康威视答应,因为我们对这个行业不具备深入了解,将来这笔钱的使用权基本上就由他们做主了,这样一来,以后我们跟他们之间的天秤也很难维持,没有足够的能力去制衡海康威视的团队。”Lin QingyaandDing Zhenglinalsoapprove ofLi Mu'sto worryvery much,oneselfdoes not understand a domain, but must take200 millionfundsto workto the person of knowing the businessall of a sudden, thisto the capital of disbursing money, is not truly controllable, the riskis very big, evenVenture Capital, firstwill still throw20 millionSeries A roundsto have a look at the result, thendecideswhetherpursuesthrows.林清雅和丁正林也很赞同李牧的担忧,自己不懂一个领域,还要一下子拿出两亿资金给懂行的人做事,这对出钱的资方来说,确实太不可控了,风险很大,就算是风投,也会先投个一两千万的a轮看看成效,再决定是否追投。Everyonefalls intoall of a suddensilent, actually everyone is ponderingshouldhowwhilebuildingowntray, attractsHikvisionjoins, but can also guaranteeoneselfin the futureto the basicplatecontrol of entiretray.
大家一下子陷入沉默,每个人都在思考着究竟该如何在搭建自己的盘子、吸引海康威视加入的同时,还能够保证自己未来对整个盘子的基本盘掌控。Thought the moment, Li Mugot a sudden inspiration, takes the leadto breaksilent, said: „Hikvisionpresentadvantagecentralizedonnot arrangingcoding technologyas well asrear endstorage product? Wepurchaseonehas the sufficientstrength, pureCamera Equipment Manufacturer Enterprise, takes the achievementto fillpart of 200 millionmarket valuesit, remainingdraws cashto make upagain, as the matter stands, ifHikvisioncompliesto join, wehadCamera Equipment Manufacturer Teamto keep in balancewiththeircoordination with each othermutually, maintainedoneto be basically balancedtaking advantage ofthis . Moreover, in the traywere many link of frontequipment manufacturer, will also increaseto the Hikvisionattraction.”
想了片刻,李牧灵机一动,率先打破沉默,说:“海康威视现在的优势不是集中在编解码技术以及后端储存产品上吗?那我们就收购一家有足够实力的、单纯的摄像设备制造企业,把它拿进来作为填充两亿市值的一部分,剩下的再拿钱补,这样一来,如果海康威视答应加入,我们就有了一个摄像设备制造团队跟他们互相配合又互相制衡,借此来保持一个基本平衡,而且,盘子里多了前端设备制造的环节,对海康威视的吸引力也会增加。”Two peopleat presentonebright, thought that thisis a great idea.
两人眼前一亮,都觉得这是一个好主意。Oneselfdo not understand, feared being separatedcontrol that knows the business, the bestwaylooks foragainknow the businesskeeps in balancewithhimmutually, ifthisknowing the businessalsodoes not have the functionto conflictwithanotherit, instead can also aroundsupplementary, thatwas more perfect.
自己不懂,又怕懂行的脱离掌控,最好的办法就是再找个懂行的跟他相互制衡,如果这个懂行的跟另一个本身又没有职能冲突,反而还能前后互补,那就更完美了。Li Mucalculatedwas saying: „As the matter stands, in additionourMuye Science and Technologysoftware developerteam, inourhandshadthreeteams! The internalallocation conferenceis stabler.”李牧盘算着说:“这样一来,再加上我们牧野科技的软件研发团队,我们手里就有三个团队了!内部平衡会更加稳固。”„Camera Equipment Manufacturer Teamis responsible forSkynetsystemfrontphotographing, Hikvisionis responsible forSkynetsystemrear enddecodesandstores up, the Muye Science and Technologydevelopment staffare responsible for the entireSkynetsystemsoftwaresupport, after threeteamsconform, futureMuye Vision can photograph the data processingandtransmissionfromfrontagaintodata savingentiresupply chain, therefore the Muye Visionprospect, strugglesHikvisiondesperatelyis much bigger, Hikvisionshouldalsobe ableto look.”
“摄像设备制造团队来负责天网系统的前端摄像,海康威视来负责天网系统的中后端解码和储存,牧野科技的开发人员来负责整个天网系统的软件支撑,三个团队整合起来之后,未来的牧野威视就能够拥有从前端摄像到数据处理、传输再到数据存储的整条产业链,所以牧野威视的前景,比海康威视自己苦苦挣扎要大得多,海康威视自己应该也能看得出来。”Ding Zhenglinsaid: „Chief Li, since, we can also takeourMuye Science and Technologypromotedresources and Taobaomarketing channelin this casealsotake, asto the supplement of futureMuye Vision, believes that will be biggerto the Hikvisionattraction.”丁正林说道:“李总,既然这样的话,我们还可以把我们牧野科技的推广资源以及淘宝的销售渠道也拿进来,作为对未来牧野威视的补充,相信对海康威视的吸引力会更大。”Li Munods, said: „Verygood, hasfront, has the support, to have the resources, to have the channel, to have the fund, after thesefivepointshandle, even if we entiresecuritymonitoringindustry, besidesHikvisionthisin the link outside rear endallarranging, so long aswhen the time comesstillconforms withHikvision, immediatelycanbuild a mature, completeandadvanced enoughsupply chainstripdirectly, believessoonto be ableSkynet Monitoring Systemdoing.”李牧点了点头,道:“很好,有前端、有支撑、有资源、有渠道、有资金,把这五点搞定之后,我们就算是把整个安防监控产业里、除了海康威视这个中后端之外的环节全给配齐了,到时候只要把海康威视也整合进来,立刻就能够直接打造出一个成熟、完整并且足够先进的产业链条,相信用不了多久就能把天网监控系统给搞出来。”Lin Qingyahastilyopens the mouth saying: „Herehas the materials of severalCamera Equipmentproducersbeforehandreorganize, homebiggestseveralmanufacturing enterprisesbasicallyinShenzhen, ifwefirstput in the bag the manufacturing enterprise, occupied the initiativetoHikvision!”林清雅急忙开口道:“我这里有之前整理的几家摄像设备生产商的资料,国内最大的几家生产企业基本都在深市,要是我们先把生产企业收入囊中,对海康威视就更占主动权了!”Li Mutalked about with interest: „Mattercomessuddenly, preparation is also too hasty, thereforenotattending to every detail that is possiblein such a short timeto make, sincehas madewith the Hikvisionperson, Ifirstdraw a pietothemtoday!”李牧乐道:“事情来得突然,准备的也太仓促,所以不可能在这么短的时间内做的面面俱到,既然已经跟海康威视的人约好了,那我今天就先给他们画个大饼吧!”
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……ps: Sorry, a little matterdelayed, tonight can only one, make uptomorrow!
ps:抱歉,有点事耽搁了,今晚只能一更,明天补上!
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