(June 1st) yesterday evening, I was informed that the ranking in Top10~Top20 mutual gold platform, net lending group, with the price of 660 million yuan sold. The buyer is the suspension has long Hao Dunning (002356), propaganda to borrow Loan Corporation to enter the jewelry industry supply chain finance.
thing itself is nothing, but its acquisition is very interesting, so I went to the relevant website to read the key to continue the suspension notice, the original up to eight pages.
below, for this transaction, will be from three aspects: the gambling agreement, asset stripping and timely cash in three dimensions, to interpret the event itself and some of the possible situation behind.
is always anxious and fearful of the gambling agreement
Speaking of the
agreement on gambling, always reminiscent of the greedy Wall Street, Goldman Sachs, small friction as the representative of the top investment bank; mind showing called commitment performance forced entrepreneurs, failed after being swept out of the painful setback picture.
(1), the meaning of the gambling agreement and other issues
here, let’s talk about the meaning of the gambling agreement:
is also called the "valuation adjustment mechanism of gambling agreement" (Valuation Adjustment Mechanism), VC is mainly for enterprise valuation of doubt or big questions about the financial data, by setting the level of profitability targets and trigger conditions, to avoid unpredictable profitability risk.
to some extent, it also has the nature of certain options.
its main role is to reduce the investment risk of VC; to a certain extent, but also in some form of urgency to stimulate the founder of the enterprise, to complete the relevant tasks.
generally divided into two kinds of gambling agreement: one is the compensation for the right to bet; the other is the cash compensation for gambling.
in the suspension announcement: Hao Daning is second, the cash compensation agreement on gambling.
(two), the specific content of the agreement
as far as I know, the introduction of the gambling agreement in China in 2000, and then gradually mature. This time, it should be said that is the first to appear on the gambling agreement listed entirely by mainland enterprises to participate in, from the signing of the agreement to end the exercise, the whole process of Chinese listed companies, has a very important significance. (those VCs are not a sign of nature)
specific provisions are as follows:
According to the
net lending group completed a new round of financing 1 billion 200 million yuan of the total valuation, C (net lending group) to haoningda commitment group net loan 2015 year 2016 year 2017 year net profit after deducting non recurring gains and losses were not less than 25 million yuan, 70 million yuan, 115 million yuan.
if the actual net profit is lower than the net profit that is committed, the