Who would have thought that Dong Mingzhu, the head of Gree, had also been collectively removed by shareholders?
The founder of Tudou was just divorced, and his direct listing was rejected, and then he was directly taken by Youku?
The old godmother has not been able to go public because of the unreasonable equity distribution.
The difference in market value before and after the listing of the company is dozens or hundreds of times, and Wang Wei, the founder of Tudou.com, is also very powerful, and only gave the woman 100,000 yuan when he divorced, thinking that the matter would come to an end. Who knew that just when Tudou was about to go to the U.S. market, the founder's equity was frozen.
What's going on? It turned out that Yang Lei filed an equity split lawsuit in the early stage, let's think about it, if you want to list a company, the equity of your major shareholder has not yet been vested, and it will definitely not be listed. And this lawsuit must not be fought, so Wang Wei went to Yang Lei for an out-of-court settlement and spent 7 million US dollars! Providence makes people, just take advantage of this gap, the competitor next door Youku went public first, and the most bizarre thing is that Tudou was merged and acquired in turn. Wang Wei, who was worth tens of billions of dollars in the past, returned to the pre-liberation period overnight. Later, potato clauses in various investor agreements were born.
Tudou incident, in the final analysis, is that Wang Wei does not understand equity at all. Just like NVC Lighting finally ended up selling to foreign capital cheaply, and the fate of the former friend falling apart was also because he didn't understand equity. is also an equity dispute, Dong Mingzhu only used 10 million to get 40 billion equity, you see how Gree Dong Mingzhu operates? Who would have thought that Gree's leader Dong Mingzhu would also be deposed!
In 2016, the board of directors of Gree, in order to acquire Haiyinlong, did not pay dividends to shareholders. When the shareholders heard this, they were passive, and everyone was not happy, so they collectively dismissed Dong Mingzhu for 10 days. This incident also made Dong Mingzhu realize that if he did not hold equity, he would only become a puppet of shareholders, and the development of the company would be limited. So when Gree announced the transfer of 15% of the equity in 2019, Dong Mingzhu also wanted to buy it, but what if there was no capital?
At this time, Zhang Lei of Hillhouse Capital stood up and made suggestions, how to do it?
The first step is to establish Zhuhai Yuxiu Investment Management Company - with a registered capital of 10 million, and Dong Mingzhu holds 100% of Yuxiu.
The second step is to establish Zhuhai Xianyin Limited Partnership - with a registered capital of 20 million, Yuxiu accounts for more than 67% of the shares, acting as a firewall company, even if there are other risks in the operation of Minjun in the later stage, it will not affect Dong Mingzhu personally.
The third step is to establish Zhuhai Minjun Co., Ltd. - with a registered capital of 21.8 billion. Xianyin and Hillhouse Capital jointly founded Minjun with a registered capital of 21.8 billion.
There is also a very interesting setting here, the share of the Xianyin partnership is only 006%, acting as a GP, but has 100% decision-making power, while Hillhouse Capital accounts for 994%, acting as an LP, but only has the right to dividends. Then Minjun bought 15% of Gree's shares, and after such a set of operations, Dong Mingzhu became Gree's largest shareholder and mastered the company's right to speak.
In this three-tier equity design, Ma Yun is an expert, and he only used 10 million to control the Ant Group, which has a market value of 2 trillion yuan. Liu Qiangdong also said that if he loses control of JD.com, it is better to sell it directly. JD.com implements AB shares, Liu Qiangdong holds B shares (one share = 20 votes), and other shareholders hold B shares (one share = 1 vote).
So even if Tencent billion 17When 8% of the shares became the largest shareholder of JD.com, the right to speak in the enterprise was still in the hands of Liu Qiangdong. Therefore, the control of the company is the lifeblood of the enterprise, whether you are a large enterprise like Gree, Lao Gan Ma, NVC Lighting, or a small and medium-sized enterprise, the leader has no equity consciousness and will definitely fall here in the future.
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