As a mage, I just want to pursue the truth

Chapter 79 Angel Investment Considerations
Kechuang Bio has completed all the listing procedures, and the listing time is set for October 10, the first working day after the long holiday.

The agency has obtained the shipment volume of brain-computer-connected mobile phones in China in the third quarter.

As one of the shareholders of CStone Biotechnology, IDG separately listed brain-computer-connected phones for calculation in its internal smartphone shipment report.

According to statistics, the shipment volume of brain-computer-connected mobile phones in the first three quarters of 2021 was 471 million units, far exceeding expectations.

Because the first brain-computer connected mobile phone, Xiaomi's Mix 4, was only launched in June, the brain-computer connected mobile phone has only been on sale for a quarter at most.

The internal expectation of the organization is that the annual shipment volume of brain-computer-connected mobile phones in 2022 will be around 2000 million units, which can be considered an excellent result.

You should know that in the third quarter of 2021, Apple, the largest player in high-end brands, has not yet released its brain-computer connected mobile phone.

The production capacity of brain-computer interfaces for mobile phones has exceeded expectations, although not by much.

The time for Apple's fall conference this year has not yet been determined, but Cook has already hyped it up on Twitter:
“The new iPhone is an incredibly perfect product!”

"I can't wait to use it on you guys."

Due to technical limitations, brain-computer connected mobile phones are basically only sold in China. If foreign consumers want to use them, they either have to transfer goods or purchase them on behalf of others.

As a result, a complete industrial chain has been formed from purchasing brain-computer interface mobile phones from China to America, Europe and other places.

Although the recognition accuracy of brain-computer interface mobile phones used by people who speak English or other languages ​​is only 70%, the electronic product enthusiasts in Europe and the United States are wealthy.

You only need to spend about 200 yuan more to enjoy the brain-computer connection function. The brain-computer connection device is not much different from headphones, which is completely acceptable to them.

Cook's tweet was full of ridicule:

"Another special supply from China"

“Apple only cares about the Chinese market”

"It is indeed very convenient to connect a brain-computer interface to a mobile phone. I have a very good experience using a Chinese-made brain-computer interface to connect a mobile phone. It would be great if the accuracy rate could be higher. When will American's product be developed?"

Because the shipment volume of brain-computer-connected mobile phones exceeded expectations, institutions raised their internal valuation of KeChuang Biotechnology to another level.

"If we consider the long term, it's a no-brainer to buy Kechuang Biotechnology when the price is below 3000 yuan."

"Considering the short term, as long as the price does not reach 2,000 yuan on the listing day, we can build a partial position." A fund manager said at an internal investment research meeting.

"What if the stock price reaches 3,000 yuan on the first day of listing?" asked his assistant.

"Then wait until it falls. We won't rush to build a position."

“Unless we can get inside information and know the progress of research and development in the field of brain-computer connection of Kechuang Biology.” The fund manager was thinking: “It shouldn’t be that difficult. According to my understanding, it should be fast.”

"It's a pity that our market is too big and we can't be aggressive. If the private placement price was 3,000 yuan, they would dare to rush."

The assistant nodded and said, "Since the R&D center of Kechuang Biotechnology in Lion City was robbed, they have changed a group of security guards and hired a domestic security company in Lion City."

"It's even harder to get information now. Since Zheng Li is in Lion City, the progress of the Lion City R&D Center will not be reported to Gusu."

The fund has a management scale of over 50 billion, making it one of the top domestic funds. It is not much different from the hundreds of billions of funds managed by Ge Lan and Zhang Kun.

The larger the scale of management, the more restrictions the fund manager will face. For example, Zhang Kun's rules only allow the purchase and sale of about 100 stocks. Basically, only large-cap stocks and blue-chip stocks can be purchased.

The fund manager is having a headache: "If there is any progress in the brain-computer connection technology of Kechuang Bio before the first half of next year, whether it is the completion of the research and development of English products or the new application of brain-computer connection in the medical field."

“I think there’s a huge amount of room for growth.”

With the listing of Ke Chuang Bio, Cheng Gang's career also reached its peak. For the first time, he felt that starting a business was such a simple thing.

After just some clerical work, Ke Chuang Biotechnology is about to go public with a market value of 400 billion RMB, and the secondary market believes that this price is too cheap.

Cheng Gang has a deeper understanding that science and technology are the primary productive forces. He realized that his own business failed because his technological advantages were not strong enough.

Ever since Zheng Li left for Singapore, Cheng Gang has essentially become the top figure at Ke Chuang Bio's headquarters. Gradually, he began to compete with Zheng Li's spokesperson in the company, Li Miaomiao.

Since Zheng Li is still the absolute controller of the company, even if Kechuang Bio goes public, Zheng Li will still hold more than 51% of the shares after the listing.

So Cheng Gang and Li Miaomiao are still on good terms on the surface, but privately each side is vying for the support of the company's middle-level managers and other senior executives.

Although Zheng Li is far away in Singapore, he knows the company's situation very clearly. He knows what they know, and he also knows what they don't know.

On the eve of the listing, financial institutions that wanted to operate behind the scenes not only approached Li Miaomiao, but also other senior executives of Kechuang Bio.

Some executives could not resist the temptation and chose to accept the other party's sugar-coated bullets. Zheng Li sent the two people for investigation directly through official channels without going through anyone.

After this incident came out, the company's executives were shocked by Zheng Li's ruthlessness, and the company, which had been a little turbulent, calmed down again.

Cheng Gang no longer dared to try to win over senior and middle-level managers. He realized that even if Zheng Li was not there, he would only be a manager and would not become the actual controller of Ke Chuang Bio.

Realizing that he was still just a manager, Cheng Gang chose to increase his interactions with Young of IDG.

"Young, after Kechuang Bio goes public, I plan to cash out some of my shares and set up a biopharmaceutical investment fund."

"We can visit more often then."

If Cheng Gang was just the boss of an investment fund company, Young would definitely not have much contact with him, but Cheng Gang has another identity - the general manager of Ke Chuang Bio.

"Recently, a company is planning to conduct a C round of investment, but it has a huge funding gap. If you have funds, you can consider investing in it," said Young.

When Cheng Gang heard about the C round and the large funding gap, he quickly reacted: "Abbio?"

Young nodded: "Yes, it is Abogen Biopharmaceuticals. They want to raise more than 7 million US dollars in cash in the C round, and seven funds have already led the investment."

“Temasek, Invesco Developing Markets Fund, Zhengxin Capital, Hillhouse Capital, Lilly Asia Ventures and Yunfeng Capital.”

Some people believe that angel investment funds established by Internet companies will not invest in the biopharmaceutical industry. However, Yunfeng Capital, as Ali Ma's angel investment company, participated in the lead investment in Abogen Biopharmaceuticals' Series C round.

Let’s put it this way, angel investors only look at the quality of the project, and there is no clear standard for what not to invest in and what to invest in.

Lei Jun’s Shunwei Capital’s previous investment in Kechuang Bio was based on very realistic considerations.

Thanks to wactor and the very handsome man for their tips!
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(End of this chapter)