I was reborn and stayed in school to lie down. I really don’t want to roll anymore!

Taking the hot tea brewed by Jiang Hao, Mr. Cai took a sip and put it back on the coffee table.

The complicated and hesitant expression remained on his face. He thought for a long time, and only spoke after seeing Jiang Hao put down the teacup.

"Mr. Jiang, I feel it's too difficult for the company to go public."

"What difficulties have you encountered again?"

It was obvious from what he heard that they had encountered new obstacles. As far as Jiang Hao knew before his rebirth, MiHoYo was not listed.

The specific situation is unknown, but as far as he remembers, the company will not be short of money after Genshin Impact is officially launched.

The annual profit dividends alone are enough, and there is no need to go public to raise money.

We can provide the development and operation of the company's new business by ourselves.

The high profits made it seem indifferent for MiHoYo to go public, and even the decision not to go public would be smoother.

However, Mr. Cai, who was sitting in front of him today, had always aimed to go public since a few years ago.

I'm afraid this is another setback besides the first time my application was rejected.

"It doesn't really count. I feel like if a company like miHoYo wants to go public on the domestic stock market, it won't have a chance."

"The first time it was rejected years ago, I thought it was because of the single profit model of the business."

"In terms of company operations and financial statements, we have added a lot of new profits from IP development, peripherals and other community-based activities."

"I submitted it again recently, but they didn't respond anyway, so they just kept dragging their feet."

“I feel like we at miHoYo have no chance of going public in China.”

Jiang Hao couldn't help but feel fortunate when he heard this, as his Jiangyu Coffee had just been launched on the market recently.

We agreed that Mr. Zhang, a high-ranking official, would be in charge of the matchmaking and specifically contact Goldman Sachs to guarantee that the company would be listed on the Hong Kong stock market.

Fortunately, they both abandoned the domestic stock market at the first opportunity and only chose Hong Kong stocks and Nasdaq.

Otherwise, he would have to go through what Mr. Cai is going through.

At most, his fame and influence are greater than President Cai's, and he will have the support of the Jiangnan Provincial Party Committee, so he should still have a chance to go public in the end. However, the profits he will give up behind the scenes are likely to be far beyond expectations.

"In fact, it is indeed quite difficult to go public in the domestic market."

“The cost of behind-the-scenes communication is huge and much more important than the company’s operations.”

"Why don't you try a backdoor listing? Or try your luck in the Hong Kong stock market or Nasdaq?"

Although the domestic real estate market has been booming in recent years, the stock market has risen accordingly and there is a lot of hot money in the stock market.

In fact, the growth of Hong Kong stocks and US stocks is also not slow, and there are also many capital pools that can accommodate new companies to go public and take off.

At least from Jiang Hao's current point of view, although Mr. Cai's game is doing very well, he is still a novice in the market launch. His lack of experience has led to the current embarrassing situation.

Although the IPO application is submitted in a hurry, the work behind the scenes is actually not yet completed.

Given Mr. Cai’s personality, I’m afraid there isn’t much chance for the domestic stock market.

If there is another wave of financing and with the help of investors' resources, there may be new listing opportunities by switching to Hong Kong and US stocks.

Up to now, Jiang Hao's main focus has been on calming Mr. Cai down.

Even though Mr. Cai is a few years older than Jiang Hao, in the business world, Jiang Hao is indeed Mr. Cai's senior.

With the two companies successfully listed, it can be said that the vast majority of domestic entrepreneurs have no doubt about Jiang Hao’s success and admiration for him.

"I've thought about that, but... it might be too late."

The hesitation and confusion on Mr. Cai's face were obvious.

This was something Jiang Hao had not expected, so he patiently asked again.

"Switching to Hong Kong stocks shouldn't be a problem, right? We're starting to prepare for the listing now, and if things go well, we can try to list early next year."

"If you have any ideas, I can introduce you to a friend who is quite capable in listing on the Hong Kong stock market."

"With him helping miHoYo, the listing process should be even faster."

When Jiang Hao talked about Hong Kong stocks, he couldn't help but think of Mr. Su from Goldman Sachs.

Now it seems that being able to bring Jiangyu Coffee to the market in such a short time requires some real skills.

Jiang Hao will not deny the difficulty of listing Yu Coffee just because he successfully listed Totoro.

It is not easy for any company to go public, especially in a more diverse and open market.

Totoro was able to successfully go public because of the support of Tencent, the favorable environment of live streaming and capital, and his willingness to take charge and delegate power.

Although Jiangyu Coffee's overall scale is not large and the total amount of funds raised through its IPO is not high, the difficulty of going public is the same.

"That's too late!"

"Boss Jiang, if I had made it in time, I wouldn't have come to you for help today."

"The company is now in a dilemma. I want to withdraw the listing application and take a gamble!"

...

"What is too late?"

Jiang Hao is not very clear about the current development of miHoYo.

Although he is Mr. Cai’s mentor and an important Series A investor, he is not responsible for the actual operation of the company.

At the same time, I had the impression of MiHoYo in the future and even rarely read its financial reports.

Mr. Cai always remains optimistic about the difficulties encountered during the development of his company and firmly believes that he can overcome them.

"Last year, I invested most of the net profits from Honkai Impact 3 into the game Genshin Impact."

"When we started preparing, we were thinking about developing it in a big way first. After the company goes public this year, we will invest more money in development for another year, and then start public testing in the middle of next year."

"It's unlikely that the company will go public now. It's too late to switch to Hong Kong or Nasdaq."

“The development of the game Genshin Impact will cost about 100 million USD per year. I want to increase the budget this year to speed up the development progress.”

"Since we can't go public, we have some financial pressure. Now... ah~!"

With a short sigh, Cai finally confessed all the pressure he was under.

Talking can be of great help to people's psychology. After Mr. Cai told Jiang Hao about the pressure in his heart, he felt a lot more relieved.

I picked up the warm tea on the coffee table and finally felt like savoring it.

Jiang Hao now began to think deeply from Mr. Cai's perspective.

He didn't expect that miHoYo, which is now valued at 3 billion MiHoYo, would still encounter such big development problems.

With the current level of MiHoYo, the annual net profit revenue from old games is about 1.5 billion RMB, which is about million MiHoYo yuan.

The investment in this new game "Genshin Impact" should have reached 100 million yuan.

However, revenue from old games peaked last year and has begun to decline this year.

Coupled with the power of stock market listing, there are actually only two options left for President Cai.

One option is to temporarily postpone the development of "Genshin Impact" and first seek a listing on the Hong Kong Stock Exchange or Nasdaq. Although this is also difficult, after all, the development team cannot be disbanded on a large scale.

The basic salary of the staff is also a big cost, but it can keep the company going.

The other option is to burn your bridges and cancel the idea of ​​going public.

I am determined to invest all the company's profits this year into "Genshin Impact" and give it a try!

If the new game can perform well, it will be considered as leveraging the game "Honkai Impact 3" to continue a new round of money-making mode.

If there is no improvement, MiHoYo might fail in the C round.