I can become stronger by paying salaries. I have one billion employees!

Chapter 702: A projected market capitalization of 1.2 trillion, a highly sought-after asset in Hong Kong's financial circles.

Hong Kong Island was still sweltering at the end of September. As the car wheels rolled over the asphalt roads in the suburbs of Fanling, several birds hid among the branches and leaves, making short calls.

Golf Club is undoubtedly one of the top golf clubs in Asia, having hosted numerous international professional tournaments.

It was founded in 1889 and has a history of over a century.

For the long-established wealthy families on Hong Kong Island, countless people across three generations have made deals here.

It is said that when Li Ka-shing, with his "snake swallowing an elephant" audacity, joined forces with shipping magnate Bao Yugang to acquire Wharf Holdings, the two conspired in this golf course.

Through the car window, you can see the buildings outside, most of which have an old-fashioned elegant style. The pointed glass windows reflect the morning light, and the lawns in front of the doors are trimmed like green velvet, with even the height of the grass blades looking as if they have been measured with a ruler.

The caddies in dark green uniforms were already waiting on the side. As soon as Chen Yansen and Zhou Songtao got out of the car, they immediately stepped forward, bowed, and took the golf bags. Their movements were so light that they made no sound.

Working at a golf club, you can have shortcomings in professional skills, but you absolutely cannot lack "observation skills".

Because the people who come and go here are all wealthy and powerful, offending just one of them could make you a very important figure in Hong Kong.

Moreover, this caddie not only knew Zhou Songtao, but also Chen Yansen, so he naturally dared not be negligent in the slightest.

"Mr. Chen, what time did you arrange to meet with Li Zeju?"

Zhou Songtao accompanied Chen Yansen straight into the depths of the stadium. After taking only a few steps, he suddenly asked a question.

"It's 2:30, there's still one hour left."

Chen Yansen said lightly.

"It's still early, let me introduce you to people in the Hong Kong investment community first."

Zhou Songtao nodded and continued.

Orange Technology is currently valued at $2000 billion, equivalent to more than one trillion yuan. Once it goes public, it will likely surpass Tencent and become the top tech stock.

However, compared to the market capitalization of several large banks, it is still several hundred billion less.

In the eyes of Hong Kong's financial circles, Orange Technology is a hot commodity; as long as they can obtain underwriting qualifications, they can earn at least several hundred million.

What is going public?

Simply put, it's a process where companies, securities firms, and stock exchanges work together to make the "pie" bigger.

In this way, companies can raise funds through listing, exchanges can earn trading commissions, and securities firms can collect sponsorship fees, underwriting commissions, and compliance advisory fees. Ultimately, all three parties can make a fortune.

Especially for companies like Orange Technology, which have rapid development, great market potential, and high valuations, the money they can earn alone is often equivalent to the total of several or even dozens of small and medium-sized enterprises.

Not only are overseas securities firms eager to participate, but local Hong Kong securities firms are also vying for a piece of the pie.

Even if they don't get the lead underwriting qualification in the end, they should at least get a joint underwriting spot and get a share of the profits.

Just like when Pinduoduo went public, why were the five major underwriters, including Goldman Sachs, Credit Suisse, and Morgan Stanley, willing to work hard to raise the original offering price of $34 to $40?

Ultimately, it's all driven by "interests".

"Then I'll have to trouble Chairman Zhou."

Chen Yansen smiled and did not refuse.

Song Yuncheng followed closely behind, his steps steady, his eyes showing no sign of unease, but rather full of composure.

She's seen this kind of scene too many times, and she's long since lost any sense of tension.

In the past, whenever he had a vacation or went on a business trip, Chen Yansen would take the opportunity to mentor Song Yuncheng.

In addition to guiding her in her work, he also introduced her to social sports such as skiing, swimming, tennis, and golf.

While her technical skills in these projects weren't top-notch, she was more than capable of handling typical business communication scenarios.

Zhou Shouzhi and Gao Weilin, on the other hand, were like two accessories, two steps behind their boss.

After walking for a short while, the group arrived at a rest area. On the table were neatly arranged plates of exquisite fruits, desserts, and side dishes, with various expensive wines displayed nearby.

Groups of well-dressed men in suits were holding champagne glasses and talking quietly with those around them.

There were very few people playing ball; most were busy negotiating business.

After all, making money is their primary goal; playing ball is just a pretext for starting this gathering.

Ian, a partner at Goldman Sachs’ Hong Kong branch, was about to retort to his old friend’s teasing when he caught a glimpse of a very familiar figure out of the corner of his eye.

Ian didn't have time to think it through. He quickly put down his wine glass and strode straight toward Chen Yansen.

Those around him noticed his unusual behavior and their gazes followed him, soon focusing on Chen Yansen to Zhou Songtao's left.

Upon seeing this, the remaining dozen or so people also stood up to greet them.

Even though Chen Yansen's trip to Hong Kong Island wasn't for the company's listing, they didn't dare to be negligent.

It's worth noting that Senlian Capital owns not only insurance companies like Semir Online, but also the recently established Senlian Bank.

In addition, there are rumors that Senlian Capital intends to enter the securities industry.

No one can say for sure when they might need Chen Yansen's help.

Therefore, these bigwigs who could make the financial world tremble with a stomp of their feet in Hong Kong all wore smiles and had fawning expressions in their eyes, hoping to establish a good relationship with the boss.

"Hello Mr. Chen, this is Ian from Goldman Sachs Hong Kong Island branch."

"Mr. Chen, I am Gao Fenghao, the Hong Kong Island head of Morgan Stanley."

"Mr. Chen, I am Duan Chenhui from Huaxin Securities."

"..."

Chen Yansen greeted each of the group members one by one.

Zhou Songtao, acting as the middleman, said with a smile, "Let's sit down and chat."

After saying that, he led everyone towards the rest area.

A waiter in a champagne-colored uniform, wearing soft-soled shoes, quickly stepped forward, carrying a tray, and served drinks to Chen Yansen and his companions.

Chen Yansen sat down, and before he could even warm his seat, Gao Fenghao across from him said with a smile, "Mr. Chen, last month I went to New York for the group's second-quarter financial meeting. President Gregory specifically mentioned the success of Pinbei's IPO on the NYSE last year. He also said that Orange Technology's market potential is comparable to Pinbei's, and based on our previous good cooperation, Morgan Stanley is very willing to be the underwriter for Orange Technology's stock."

Upon hearing this, Chen Yansen pondered for a moment before slowly speaking: "When Pinbei went public last year, Morgan Stanley did indeed contribute to the roadshow and pricing."

However, Orange Technology and Pinduoduo operate in different sectors. The former focuses on hard technology R&D, while the latter emphasizes lifestyle services. Their valuation logic and investor profiles are also different, so they cannot be simply compared.

Upon hearing this, Gao Fenghao's expression froze for a moment, then he leaned forward slightly, his tone becoming even more sincere: "Mr. Chen is right! It is precisely because Orange Technology is a leader in the mobile phone industry that we have even more confidence."

"If Orange Technology is willing to cooperate, we can bring in the world's top sovereign wealth funds and hedge funds, guaranteeing a first-day gain of over 20%."

But as soon as he finished speaking, Duan Chenhui from Huaxin Securities coughed lightly and took over the conversation, saying, "Morgan Stanley's overseas resources are indeed impressive, with remarkable achievements in many areas such as securities underwriting, trading, and asset management, but this is Hong Kong Island!"

Huaxin has a greater advantage in issuance. If Mr. Chen is willing to choose Huaxin as the underwriter, we can make the subscription channel for retail investors smoother, and then cooperate with several major local banks to conduct grey market transactions, ensuring that the stock price not only reaches the expected level but also rises steadily.

Grey market trading refers to the use of large brokerage firms' internal systems for price matching, where trading information is not fully disclosed to the public and does not go through the exchange's public information disclosure process. It is common in the Hong Kong stock market.

The name sounds like an illegal transaction, but it is actually a legal and compliant way of trading.

For investors, the grey market price allows them to sell new shares in advance when the price is favorable. If they are worried about the share price falling after listing, they can also cash out in advance through the grey market to stop losses.

In addition, some investors who are optimistic about the prospects of new shares but did not win the lottery or received an insufficient number of shares can also buy them in advance through the grey market to avoid missing out on potential gains after listing.

For securities firms, offering dark pool trading services can attract more potential clients, including IPO investors and institutional clients, thereby enhancing their market competitiveness.

Orange Technology has three main advantages.

First, it can help predict market sentiment in advance and provide a reference for pricing.

Although the price in the grey market does not directly determine the stock price after listing, it can serve as a reference indicator for whether the offering price is reasonable.

For example, if the grey market price is significantly higher than the offering price, it may indicate that the offering price is undervalued, allowing the listed company to formulate a more precise pricing strategy when raising funds in the future; if the grey market price is lower than the offering price, the pricing logic or marketing effectiveness needs to be adjusted.

Second, stabilize the equity structure and reduce market shocks.

Grey market trading can prevent large orders from directly entering the open market, thus avoiding sharp fluctuations in stock prices.

For example, if institutional investors need to reduce their holdings by millions of shares, they can do so anonymously through dark pool trading. This allows them to complete the reduction without causing a stock price crash due to order exposure, thus maintaining the stability of the company's stock price.

Third, expand financing channels and attract strategic resources.

The privacy offered by dark pool trading can attract strategic investors who value long-term partnerships and provide more flexible financing options.

Representatives from nearby companies such as Tai Fook, Sun Hung Kai, and Wah Kim immediately became agitated upon hearing this.

Before they could speak, Chen Yansen slowly said, "When selecting a brokerage firm, Senlian Capital will focus on the institution's qualifications, underwriting capabilities, commission rates, and valuation quotes."

I will be staying in Hong Kong Island for a few days. If anyone is interested, you can come to Senlian Capital's office on Hong Kong Island tomorrow. We can then bid and negotiate fairly.

In reality, Chen Yansen preferred a model that combined foreign and Chinese securities firms.

On the one hand, foreign securities firms can help him connect with overseas investors; on the other hand, Chinese securities firms can help attract mainland investors.

Although the Hong Kong stock market is large, it may not be able to fully realize Orange Technology's potential.

Therefore, securing the support of overseas investors has become an essential step.

As soon as Chen Yansen spoke, the rest area became much quieter.

Zhang Qishan, the representative of Dafu Securities who had originally wanted to interject, quietly put his hand back down after raising it.

The phrase "bidding based on price" may seem to offer everyone a fair chance, but in reality, it firmly puts the power of choice in the hands of Senlian Capital.

After all, a brokerage firm's qualifications and underwriting capabilities are the obvious foundations, but how low the commission rate can be pushed and how much valuation quote can be given are the real competition of hard power. A slight mistake could result in losing money while gaining publicity.

Goldman Sachs' Ian was the first to react. He put down his wine glass and gave a perfectly timed smile: "Mr. Chen's method is fair!"

Despite his kind words, he was secretly cursing him, saying, "This Chen Yansen really doesn't care about any sentiments; he only cares about practical benefits."

"The same goes for Morgan Stanley!" Gao Fenghao echoed.

He paused and then said, "Mr. Chen, in fact, we have already prepared three underwriting plans for Orange Technology, and we have made detailed plans for everything from the global roadshow itinerary to the selection of institutional investors."

Especially regarding commission rates, as long as we can secure the lead underwriting qualification, we're willing to lower them by 25% compared to the industry standard!

Duan Chenhui of Huaxin Securities couldn't help but frown.

A 25% drop is almost touching the cost line for securities firms. Morgan Stanley is willing to spend so much to win the deal?
She cleared her throat and said slowly, "Mr. Chen, tomorrow we will not only bring the valuation report and commission plan, but also the draft of the dark pool cooperation agreement with several major local banks, to ensure that Senlian Capital sees our sincerity."

Others quickly chimed in, each emphasizing their own advantages, from past cases to resource reserves, fearing that their competitors would steal their business.

When Li Zeju arrived, he happened to witness this scene.

The bigwigs of Hong Kong's financial circle were all gathered around Chen Yansen, each with an obvious fawning expression and eyes full of goodwill.

Is he Chen Yansen, the founder of Senlian Capital?

As Li Yanning followed behind her father, her breath caught in her throat the moment she looked into the distance.

Even though she grew up in a business environment and was very knowledgeable, she had never seen a young entrepreneur with such outstanding temperament.

Chen Yansen in front of her was indeed a pleasant surprise.

Although she was only eighteen years old, she had already been involved in business affairs due to her family's influence, and she was full of curiosity about the new richest Chinese man not far away.

Li Zeju, accompanied by his daughter and assistant, and two bodyguards, walked forward with steady steps.

Chen Yansen spotted Li Zeju and the others immediately.

From his divine sense, in addition to the two bodyguards in plain sight, there were six security guards dressed in black suits scattered around.

Wealthy people are usually very careful about their lives, and as the son of a super-rich man who had experienced being kidnapped, Li Zeju was more cautious than others when it came to safety.

“Mr. Chen, it’s a pleasure to meet you! I was unable to attend the two meetings at the beginning of this year due to illness, which meant I missed the opportunity to get to know you.”

As Li Zeju approached, he smiled and spoke, without a trace of arrogance on his face.

In his eyes, Chen Yansen and Senlian Capital behind him were extremely powerful.

Li Zeju has always respected the strong, so he naturally dared not be the slightest bit negligent in front of Chen Yansen.

(End of this chapter)