Returning to his senior year of high school, he went all in and made billions by buying at the botto

The atmosphere in the meeting room became more solemn.

The last to report was Douyin.

Chen Liping first opened the business report.

"As of December 31, Douyin had 320 million monthly active users and 120 million daily active users in China."

"The average daily usage time per person is 61 minutes."

"The combined registered users in Thailand, Vietnam, and Indonesia reach 5 million, with approximately 2 million daily active users overseas."

"Malaysia, Singapore and the Philippines have entered small-scale local testing and are not included in the official operation data for the time being."

A few months ago, when Douyin completed its Series B funding round, its daily active users in China had just surpassed 5 million.

Today, that number has doubled.

The overseas business has also moved from verifying whether the product can work to establishing local content, review, music copyright and commercialization teams.

"In 2015, Douyin achieved operating revenue of 31.6 billion yuan."

"Due to a rapid increase in server, bandwidth, content subsidies, overseas team and copyright expenses, the annual net loss was RMB18.9 billion."

Chen Liping continued in a deep voice.

"Domestic business was close to breaking even in monthly operating cash flow in the fourth quarter."

"The real losses come from expansion."

"If we stop overseas investment and creator subsidies, Douyin can quickly turn a profit this year."

"But there's no point in doing that."

Douyin's newly raised four billion US dollars are enough to cover its expansion for a long time.

This fund belongs to Douyin Group and can only be used for Douyin's own business. Xingchen Technology has not misappropriated a single dollar.

Zhang Nan then reported on the product.

"Domestic content supply has expanded from early dance, campus and comedy videos to knowledge, automobiles, beauty, maternal and infant products, travel, film and television and local life."

"The live streaming feature has completed its second round of testing."

"GG ​​system is starting to shift from manual sales to automated bidding."

"The biggest challenge for the overseas version is not the recommendation algorithm."

"It's about each country's different culture, religion, music copyright, and content boundaries."

"This year, the overseas team will expand from more than 300 people to more than 1,500 people."

"The product will also establish an independent review, payment, and creator system separate from the domestic version."

Chen Mo asked, "What about e-commerce?"

"Let's start with small-scale testing of product links through live streaming and short videos."

Zhang Nan answered.

"Pinduoduo is one of the partners, and Xingchao Culture will also provide the first batch of products and store samples."

"Douyin still needs to build its own payment, after-sales, and transaction risk control systems."

"We cannot entrust all our trading capabilities to any single external platform."

"Proceed in this direction."

At this point in the meeting, Chen Liping did not immediately close the report.

"There's one more thing."

He looked at Chen Mo.

"Zhang Ming visited Changhu last week."

"ByteDance's board of directors is internally discussing the possibility of splitting ByteDance and merging it into Douyin."

Several people in the room looked up at the same time.

ByteDance currently holds a 28.35% stake in Douyin.

Today's Headlines, recommendation algorithms, commercial GG systems, and a large number of engineers remain within the ByteDance system.

As Douyin continues to expand, the boundaries between the two companies regarding authorization, personnel, costs, and data have become increasingly complex.

Chen Liping continued:

Zhang Ming's initial idea was to integrate Toutiao, the algorithm, and the GG technology team into separate business entities.

"Then Douyin will absorb ByteDance's core assets through a share swap."

"ByteDance's existing investors have acquired Class A shares of Douyin, while Zhang Ming and the core team will continue to be responsible for the algorithm, information flow, and global technology platform."

"This will end the long-term associated authorization and allow Douyin to form a unified content, GG, and recommendation system."

"How much did they ask for in exchange?" Lin Wan asked.

There has been no formal offer yet.

Chen Liping shook his head.

"ByteDance wants to first determine whether Xingchen is willing to talk, and then both parties will hire an independent agency to conduct an evaluation."

The meeting room fell silent briefly.

Based on Douyin's valuation of $40 billion, ByteDance's original Douyin shares were already worth $11.34 billion.

If Toutiao, the algorithm team, and the GG system are also incorporated, Zhang Ming and ByteDance's original shareholders will certainly receive a substantial amount of Douyin shares.

After the transaction is completed, Douyin will become an even larger content and technology group.

The economic interests of Xingchen Technology will inevitably be further diluted.

Chen Mo looked at the report in front of him and fell into deep thought.

From a global competition perspective, it is indeed unnecessary for Douyin and ByteDance to remain separate for a long time.

The duplication of efforts in building algorithms, Google, content, and overseas technology systems will only continue to increase costs and internal friction.

What we really need to hold onto is control.

"We can talk."

He finally spoke.

"But there are three red lines."

"First, Douyin's Class B shares and existing voting rights structure will remain unchanged."

"Second, overseas business, core algorithms and user data must be fully transferred to Douyin Group. We cannot exchange shares while leaving key capabilities in the original company."

"Third, ByteDance assets will be valued separately, and all related authorizations, historical costs, and special rights of the original shareholders will be completely cleared up."

He looked at Chen Liping.

"StarCraft, Douyin, and ByteDance each hired financial advisors."

"First, we'll work out a split plan, then we'll discuss the share swap ratio."

"If the goal is simply to leverage Douyin's valuation to inflate the price for ByteDance's existing shareholders, there's no need to continue negotiating this deal."

"clear."

Chen Liping wrote down the three requirements.

After Douyin finished his report, Lin Wan's secretary delivered the final financial summary to everyone.

Xingchao Culture's ten stores generated 1.32 million yuan in revenue and 3000 million yuan in net profit throughout the year.

Chujiang New Materials is still in the restructuring and production recovery phase. It had no profit in 2015, and the total investment in safety rectification, debt assumption, and equipment was close to 100 million yuan.

Xingchen Technology's headquarters has completed the first phase of a 1 billion yuan syndicated credit line drawdown, with the remaining 2 billion yuan still unused.

Investments, industrial parks, and physical industries have tied up a large amount of capital, and neither the headquarters nor the project companies have a huge amount of idle cash that can be arbitrarily mobilized.

However, the long-term assets held by Star Technology have undergone fundamental changes.

Douyin owns 48.6% of the economic rights.

Controlling stakes in Xingxin Mining, Deer Technology, and Feiyu Real Estate.

Accelink 30%.

Pinduoduo is 20% cheaper.

LandSpace accounts for 40%.

In addition, a number of minority stakes in Xiaohongshu, DJI, and miHoYo.

The industry map on the screen extends from mines to fluorine-containing materials, industrial parks, optical modules, drones, games, content platforms, e-commerce, and private aerospace.

Liu Xin leaned back in her chair, staring at the picture for a long time without saying a word.

A few years ago, he was still traveling around Jiangcheng County for several mines and transport fleets.

Liu Fei was even forced by debt to the point of almost selling Feiyu Real Estate.

Liu Ming and Zhang Hai run a small fluorination plant, worrying about equipment and research and development funding.

Chen Liping runs a small software company that could be crushed by internet giants at any time.

Today, every business segment they are responsible for has become an important node in this vast network.

Lin Wan put down the documents.

"The above is Xingchen Technology's 2015 annual business and investment report."

"All data will be compiled into a formal report after the audit is completed."

"Please confirm the group's goals for 2016, Mr. Chen."

All eyes in the conference room fell on the person in the head seat.

Chen Mo did not speak immediately.

He looked at the industry map on the screen.

In his previous life in 2015, he was just a student who failed the college entrance examination.

In this lifetime, by the end of the same year, he had personally built an industrial system spanning resources, materials, real estate, the Internet, advanced manufacturing, and aerospace.

This image still has many blank spaces.

But every single seed has already fallen into the soil.

"In 2016, Starry Sky stopped pursuing simply increasing the number of companies."

Chen Mo spoke up.

"First, all existing industries have been integrated."

"Xingxin, Deer, Feiyu, and Jiangcheng Industrial Park form a true closed loop of resources, materials, and construction."

"Second, the Industrial Investment Department has established a post-investment management system."

"StarCraft will not interfere with the founding team's operations, nor can we simply sign off on payments. For projects like Accelink, Pinduoduo, Blue Arrow, and others, we need to clearly define what we can offer."

Third, Douyin is launching a full-scale globalization.

"Domestic competition will not disappear; it is overseas competition that will ultimately determine how far this company can go."

Fourth, establish a unified audit, data, and risk platform for the group.

"Each company shall continue to operate independently, funds shall not be mixed, and debts shall not be concealed from each other."

"Any company that encounters problems must report to Xingchen before the problems escalate."

As he said this, his gaze swept across the faces of every person in charge present.

"The last one."

"In 2016, all of the Group's investments and expansions will serve its technological and industrial capabilities."

"No matter how high Douyin's valuation is, we can't let Xingchen become a capital company that only tells internet stories."

"Mining, materials, chips, optical communications, artificial intelligence, and aerospace are the things that will truly determine the position of a country and its enterprises in the next twenty years."

The meeting room fell silent for a few seconds.

Then, Lin Wan was the first to sign her name on the annual goal confirmation page.

Liu Xin, Liu Fei, Liu Ming, Zhang Hai.

Chen Liping, Zhang Nan, Hu Tao.

Each person in charge took turns writing.

Finally, the document was delivered to Chen Mo.

Chen Mo picked up the pen and signed his name at the bottom.

In 2015, Star Technology completed its first truly meaningful annual ledger.

The industry map laid out before everyone has already sketched out a vast outline of the next era.