Reborn in 2012, building a new energy empire

Chapter 143 The Second Phase Roadshow Begins

The Shanghai market was still a bit chilly in early March.

Jiang Haoran pushed open the window of his office in the Lujiazui office building, and the wind from the Huangpu River, carrying with it damp moisture, rushed in.

Two reports were on the table.

One document is a summary of Kirin Technology's latest prototype testing and small-batch trial production. The data is solid, but it is followed by a long list of engineering details that need to be resolved and a continuous outflow of funds.

The other document is the final liquidation report of Jiutian Investment Phase I: the initial management scale was 35 million, and it was close to 300 million at the time of liquidation.

After deducting all expenses, the net return rate is 857.61%. This figure is enough to cause a minor earthquake in the industry.

Chen Jingge knocked on the door and came in, holding a stack of printed letters of intent, his face showing a restrained excitement.

"Haoran, less than a week after the news was released, the amount of money that has come to us has already exceeded 1.5 billion."

Jiang Haoran took the stack of papers and quickly flipped through them.

In addition to Zhou Mingyu's personal investment, which has increased significantly to 300 million yuan, the list also includes the second-generation rich who have raised a total of 200 million yuan, including Chen Zi'an, Zhao Rui, Cheng Yirou, Wang Hao, and Li Zhenyu.

What's even more eye-catching are the newly added names: Liu Jinwang, General Manager Li, General Manager Wang, General Manager Zhao, and General Manager Zhang—these industrialists and investors who had been following him since the soybean meal battle finally exited the stage after a brilliant run.

Behind each name lies not only capital, but also a deeply entrenched industrial network and an unfathomable pool of connections.

"We've scheduled a small-scale roadshow for next Wednesday afternoon at the Waldorf Astoria on the Bund," Chen Jingge said. "As per your request, we've only invited these dozen or so core potential partners so far."

Jiang Haoran nodded: "How are the compliance procedures and roadshow materials for the second phase of the fund going?"

"The shell company of the private equity fund that we acquired at your request has completed all the change and filing procedures last week. The legal entity has now been officially renamed Jiutian Investment Phase II, and it can start fundraising and operations in compliance with regulations at any time." Zhou Mingyu spoke briskly, "A concise business plan, a complete audit report for Phase I, and all the compliance documents are in place. The analysts have already revised the PPT several times according to your instructions."

"However, several young, wealthy second-generation individuals who came with friends privately kept asking whether the next wave could replicate the soybean meal market trend and whether the annualized return could remain above 50%."

Jiang Haoran looked up and smiled, "What was your answer?"

"I said, Mr. Jiang never guarantees a rate of return, he only guarantees that every investment is based on sound industry logic and cyclical judgment." Chen Jingge smiled, "But some people may not like to hear that."

Jiang Haoran did not respond.

The allure of capital investment is pleasing, but it also harbors hidden risks. Funds that demand high returns are often the least patient.

For industrialists like Mr. Liu and Mr. Li, what they value is not only financial returns, but also their vision in developing industries and the potential for future business synergies.

Screening and balancing the diverse needs of investors is an essential skill for private equity fund managers.

Wednesday afternoon, in the conference room of the Waldorf Astoria Hotel.

Outside the floor-to-ceiling windows is the classic Bund view, while the interior lighting is soft, creating an atmosphere more somber than the rolling clouds outside.

The roadshow hall was filled with nearly a hundred people. On one side were the young faces from Zhou Mingyu's circle, dressed fashionably and exuding the sharpness of newly rich capitalists.

On the other side were business owners and investors in their forties and fifties, dressed in understated but high-quality clothing. They exchanged familiar nods and pleasantries, as well as subtle observations.

In addition, there were some strangers who had heard about Jiutian's achievements through various channels and wanted to get a share of the profits.

Jiang Haoran and his uncle Chen Jingge sat in the main seats.

Without a lengthy opening ceremony, Jiang Haoran stood up and walked onto the stage. Behind him, a screen lit up with only one title: "Industrial Value Reconstruction in the New Cycle - Jiutian Investment's Phase II Layout Strategy".

After taking his position, his gaze swept steadily across the entire room.

"Thank you all for taking the time to come today. Since its inception, Jiutian Investment has completed its first fund product with our investors, and it has already achieved some success in just a few months —"

He spoke calmly, glossing over past achievements, which both expressed respect and set a forward-looking tone.

"The results of the first phase are in the past and not worth mentioning." His voice was calm and clearly transmitted to everyone's ears through the microphone. "Today, I would like to take up your valuable time and focus on only two things: how we will identify the key opportunities that will unfold in the next two to three years, and how Jiutian Investment's second fund will position itself in these opportunities."

The screen switched, and a macro picture outlining the core characteristics of China's economy in 2013 slowly unfolded.

Jiang Haoran's voice then rang out calmly and clearly: "To discuss future plans, we must first understand our current position. The Chinese economy is currently at a critical juncture of transition."

The red dot of his laser pointer landed precisely on the curve in the chart where the growth rate was slowing down.

"The growth model that relied on investment and exports in the past is showing signs of fatigue, and traditional industries are generally facing the pain of overcapacity and declining profits."

"However, we also clearly see that the wave of mobile internet is penetrating at an unprecedented speed, and the potential and structure of residents' consumption are rapidly upgrading. A profound transformation centered on improving quality and efficiency has been launched."

His gaze swept across the audience, and his tone shifted to a pragmatic certainty: "Simply put, we are bidding farewell to the old stage of extensive growth and ushering in a new cycle that needs to be driven by innovation, efficiency, and real demand. All of Jiutian Investment's future plans are based on this fundamental judgment."

He paused slightly to establish the tone, then decisively moved the red dot of the laser pointer to a more structural part of the image.

"Against this backdrop, we believe that new urbanization is far more than just building houses and roads; its essence is a spatial reallocation of population, capital, technology, and consumption. And behind this lies three clear main themes—"

The laser pointer's red dot moves: "First, upgrading existing capacity in traditional industries. Not all old production capacity should be eliminated; some can be revitalized through technological integration, management restructuring, and supply chain consolidation. We focus on hidden champions in niche markets, or those with the potential to become champions."

The red dot moves to the second block: "Second, incremental creation in emerging industries. Focusing on the new demands brought about by energy transition, information revolution, and changes in consumption, we seek game-changers who can break through from zero to one, or accelerators who can accelerate from one to N."

Finally, the bright red dot of the laser pointer remained steadily on the third section on the right side of the screen: "The third is the value bridge connecting existing industry assets with new innovations." This includes, but is not limited to, supply chain services that improve the efficiency of traditional industrial chains, industrial financial tools that empower SMEs, and innovation platforms that promote the transformation of scientific research results.

His voice was calm and resolute: "These kinds of roles often remain behind the scenes and are easily overlooked by the market, but it is precisely they who, in a silent and subtle way, are reshaping the efficiency foundation of industrial operations and releasing the enormous value that has been constrained by the old system."

"They may not be the most dazzling protagonists on stage, but they are often the key pillars that determine whether the entire performance can proceed smoothly."

Instead of providing specific stock codes or industry names, he acted like an architect building a framework, first outlining a clear structure and vision.

Only then did he begin to embed the "bricks" one by one: specific cases.

He speaks fluently, offering both an analysis of the real opportunities that Jiutian Investment Phase I encountered in investing in the real industrial chain, and a keen insight into the subtle yet surging changes in current consumer habits.

Each case study serves as a vivid illustration of his philosophy, demonstrating how, within this framework, one can systematically identify potential opportunities, prudently assess multiple risks, and ultimately build a resilient investment portfolio.

The audience was completely silent, with only focused gazes.

Several industry leaders I met during the soybean meal battle are naturally among them.

Liu Jinwang leaned back in his chair, his fingers tapping lightly on the table unconsciously, a habit he had when he was deep in thought.

On the other side, Mr. Li nodded slightly from time to time as the explanation went on.

Some young faces who came to observe with their elders initially showed a detached and casual attitude, like bystanders.

However, as the analysis on stage unfolded, closely tied to the industry's structure and logically interconnected, both looking up at trends and keeping their feet on the ground, their nonchalant expressions gradually faded. They unconsciously adjusted their posture, leaning slightly forward, and were drawn into a deeper world of business insights that transcended short-term fluctuations.

"Therefore, the role of Jiutian Phase II will go beyond that of a purely financial investor," Jiang Haoran concluded, his voice calm and clear. "Our primary goal is to create continuous and satisfactory returns for all investors within a controllable risk range. This is our cornerstone and our primary commitment to this trust."

He paused briefly to allow this fundamental commitment to be fully understood, then shifted his tone, infusing it with a more mission-driven force: "Above this solid goal, we aspire to transcend simple financial ties and strive to become capital partners with profound industry insights."

"We believe that the greatest returns often come from long-term, deep partnerships with the best companies. Therefore, we not only provide funding, but also strive to share our thoughts on the endgame of the industry, our judgments on technological routes, and actively promote ecological collaboration across the industry chain at key strategic junctures."

"Based on this dual concept, the second phase of the fund has set a target size of RMB 1 billion and is equipped with a corresponding lock-up period design."

"This is both to uphold our investment discipline of steady profits and to ensure the independence and focus of strategy execution;

Furthermore, this is so that we can have enough time to build trust with our carefully selected partners, work together to cultivate our expertise, navigate industry and capital cycles, and pursue long-term growth value that goes beyond just financial gains.

The demonstration ended, the lights came on slightly, and the Q&A session began.