41: Chapter 41 First Batch of Unicorn Investments

On Wednesday morning, Li Xin met with a senior financial advisor at a quiet teahouse near the Science Park.

It was a man named Old Zhou, introduced by Chen Hu, who had been working as a financial advisor in Shenzhen for seven or eight years.

He mainly brokered equity transactions for unlisted companies.

Walking into the teahouse and looking around, Li Xin quickly spotted Old Zhou. After some mutual pleasantries, Old Zhou spoke up.

"Mr. Li, I wonder which companies' equity you are interested in?" Old Zhou picked up his teacup, took a sip, and set it down.

Li Xin pushed a list over. "ByteDance, Didi Chuxing, Parody, and DJI. I am interested in the shares of these four companies. Do you have any channels?"

Old Zhou picked up the list, took a look, and began to ponder.

"Mr. Li, your eye for investment is truly sharp. These companies have great potential. Although they haven't gone public yet, their valuations have long exceeded ten billion US dollars."

"The equity of these companies is highly sought after, and it's not easy to get your hands on it!" He put down the list and tapped his fingers lightly on the table twice.

"Shares of ByteDance and Didi Chuxing are basically unavailable on the market. Shares of Parody and DJI would be easier to acquire, but you would need to wait for an opportunity."

"Professional matters naturally require a professional like you to handle them," Li Xin said. "That is why I came to ask for your help. Is there any way to do it?"

Old Zhou didn't rush to answer. He picked up his teacup, took another sip, and swallowed slowly, as if mulling something over.

After a moment of silence, he spoke up: "Regarding ByteDance, I know a shareholder who has some shares they want to cash out. However, the price is not cheap."

"How many shares?"

"Based on a valuation of 11 billion US dollars, it's worth about 30 million US dollars."

"Good, I'll take them."

Old Zhou's teacup paused in mid-air before returning to a natural position. He clearly hadn't expected Li Xin to answer so quickly: "Mr. Li is quite straightforward. I thought you would consider it more; I didn't expect you wouldn't even negotiate the price."

"A valuation of 11 billion US dollars for ByteDance is very reasonable, in my opinion. Besides, equity in these unicorn companies is rarely available on the market, and they have great potential. I intend to hold them long-term," Li Xin replied, remaining calm.

"As long as it can be acquired, transferred, and is free of disputes and legal risks, the price can just follow the market rate. I won't haggle over the price."

Old Zhou set down his teacup and nodded gently. "We are professional in this regard; we have cooperative relationships with these institutions, so rest assured."

"What about Didi Chuxing?" Li Xin asked.

"Shares of Didi Chuxing are difficult to get," Old Zhou pushed up his glasses. "However, I know a friend who has some shares available for sale."

"For 20 million US dollars, how much can I get?"

Old Zhou quickly calculated in his mind: "Based on the current valuation of 50 billion US dollars, about 0.04%."

"Fine."

Old Zhou had regained his composure. He simply adjusted his glasses and stared at Li Xin to confirm again: "You don't want to reconsider?"

"No need to reconsider. I have already looked into these companies," Li Xin said. "Didi Chuxing has already acquired Kuaidi and Uber China; the ride-hailing market belongs to it. A valuation of 50 billion US dollars is something I think is worth entering."

Old Zhou looked at him and laughed. "Mr. Li, you are an interesting person. I have been an FA for over a decade, and this is the first time I've met a client as straightforward as you."

"What about Parody and DJI?" Li Xin didn't take the bait and continued to ask.

"For Parody, there is a boss who wants to sell 15 million US dollars worth of shares to raise funds. Based on a valuation of 30 billion US dollars," Old Zhou said, pausing. "However, this company is still burning cash. Although the food delivery business is growing fast, the losses are also significant. Mr. Li, are you sure you want to invest?"

"I'm sure," Li Xin said. "Parody's market share in food delivery has already exceeded 60%. As long as they outlast their competitors, the entire market will be theirs. A valuation of 30 billion US dollars is very worthwhile."

Old Zhou nodded and made a few notes in his notebook.

"For DJI, shares in this company are the most difficult to get," Old Zhou pushed up his glasses again. "DJI isn't short on money and rarely opens up for financing. There are basically no circulating shares on the market. But I know a partner at an institution who urgently needs capital for turnover. They have some original shares they want to sell as soon as possible. Based on a valuation of 10 billion US dollars, it's worth 15 million US dollars. You..."

"I'll take this too," Li Xin said without even thinking.

Old Zhou put down his pen and looked at Li Xin seriously.

"Mr. Li, the four companies add up to 80 million US dollars. Don't you need to go back and consider it?"

"No need," Li Xin said. "I would also like to ask you to arrange the due diligence as soon as possible. If there are no issues, I hope to complete the transaction within a month."

Old Zhou pondered for a moment and then reached out his hand. "Fine. Mr. Li, it's a pleasure to work with you."

"Pleasure working with you."

The two shook hands; Old Zhou's palm was thick and his grip was firm.

After seeing Old Zhou off, Li Xin sat in the teahouse and poured himself another cup of tea.

The tea had already gone cold, but he didn't mind and drank it in one gulp.

ByteDance valued at 11 billion US dollars, Didi Chuxing at 50 billion, Parody at 30 billion, and DJI at 10 billion. Looking at their future value, these valuations were ridiculously low right now.

In a few years, ByteDance's market value would rise to hundreds of billions. Although Didi Chuxing would have its ups and downs, it would also surge to over 80 billion. Parody's market value would exceed over 200 billion, and DJI would also increase several times over.

Getting the shares now was like picking up money.

However, only Li Xin knew this, and he didn't want too many people to know he was picking up money.

Keeping a low profile was the way to go.

After sitting for a while, he sent a message to Li Jiayi: "There are a few investments next week that I need you to be responsible for: ByteDance, Didi Chuxing, Parody, and DJI. The total investment is 80 million US dollars. Please prepare the funds."

The message had just been sent when Li Jiayi replied instantly. It wasn't text, but three question marks: "???"

One could imagine the expression on her face when she saw this message. She must have been completely bewildered, with her delicate eyebrows slightly furrowed.

He didn't explain much and simply sent Old Zhou's phone number over: "This person will contact you. Just follow the standard procedures for the subsequent settlement."

Li Jiayi replied quickly this time, with only one word: "Okay."

Li Xin ordered another pot of tea.

The teahouse was very quiet. He looked at the alleyway outside the window. Occasionally someone would pass by with hurried steps; no one would notice that a young man with considerable wealth was sitting in this quiet little teahouse.

He liked this feeling.

Secretly mining his own gold mine, secretly emptying out all the gold mines in the world. Not being noticed, not being talked about, quietly doing his own thing.

Waiting for the 80 million US dollars to be invested, and the shares of ByteDance, Didi Chuxing, Parody, and DJI would be in hand. Added to the stocks he had bought before, his asset structure was becoming increasingly stable.

But Li Xin knew clearly that these were just on the surface.

The real big money was still in those mountains in Southeast Asia, in the great mountains of the world.

The placer gold mines on the Thai-Myanmar border, the abandoned gold mines in northern Laos—these were the tough nuts he had to crack next.

He drank another cup of tea, then stood up and walked out of the teahouse.

A taxi was parked at the entrance of the alley. He opened the door and got in. The car started and merged into the traffic.

Li Xin leaned back against the seat, closed his eyes, and went over recent events in his mind.

The investment in domestic unicorn companies was left to Old Zhou and Li Jiayi to handle, so he didn't need to worry too much. Product promotion for the tech company was being watched by Yang Hong, the logistics company had Uncle Luo and Luo Maifa, and the breakfast shop had Tie Zhu and Qiang Zi. Everything was on track.

All he had to do now was focus on preparing for the trip to Southeast Asia.

Over the next two days, Li Xin barely left the house.

In his dormitory, he faced his computer and looked over the map of Southeast Asia dozens of times. Mae Ramat Village on the Thai-Myanmar border and Mount Puka in northern Laos—he could recite the satellite maps of these two places from memory.

When Yang Hong asked him what he was doing, he said, "Doing homework." When Luo Maifa called him to eat, he said, "No time."

Qiang Zi called to say that Tie Zhu's breakfast shop had a small issue—the owner of the shop next door complained to the property management about the cooking fumes being too heavy. Li Xin said to let Qiang Zi handle such things and that he didn't need to be contacted.

His mind was now completely filled with mountain roads and rivers.

On Friday afternoon, Li Jiayi sent a message saying that the due diligence materials for ByteDance and Didi Chuxing had been received and asked if he wanted to look at them together. Li Xin replied, "You look first; I trust your judgment."

Then he added another one: "Are you free tomorrow? Let me treat you to a meal."

Li Jiayi replied instantly: "Free. Where to?"

"There's a Western restaurant over at Shenzhen Bay with a nice view. Twelve o'clock noon?"

"Okay."

Li Xin put down his phone and continued to study the map.

He re-planned the route for the Thai-Myanmar border and checked the equipment list again. Tent, sleeping bag, dry rations, water filter, satellite phone, GPS locator... he noted them down one by one in his memo.

The sky outside the window darkened and brightened again.

On Saturday morning, Li Xin changed into clean clothes and went out.