GEM activates the national equity investment industry The big guys have set foot in the venture.

Gem activated the national equity investment, industry giants in recent years have dabbled in venture capital industry.　　They carry a strong industrial capital, with their own industry experience, around their main business, in the industrial chain downstream is quietly launched an industrial chain integration action.　　Recently, ZTE announced that it will invest 16.5 million yuan and Shenzhen Investment Management Co., Ltd. jointly set up the ZTE Venture Capital Fund Management Co., Ltd., specialized in the fund-raising and management of venture capital funds.　　Not long ago, TCL Group Co., Ltd. issued a notice that the company will spend no more than 500 million yuan for venture capital. Gem activated the national equity investment, industry giants in recent years have dabbled in venture capital industry.　　They carry a strong industrial capital, with their own industry experience, around their main business, in the industrial chain downstream is quietly launched an industrial chain integration action.　　Tcl: Why does Tcl, the target unlisted company, become a consumer electronics giant in the venture capital industry? September 9, 2010, the Hong Kong-listed Tim Lee industry notice said that TCL Group wholly-owned subsidiary TCL Industry (Hong Kong) will subscribe to the subsidiary holding company Tim Li Hundred shares of the stake, accounting for Tim Li hundred 10% of the enlarged stake, Tim Lee's main business is investment holdings, its oil field engineering and consultancy services business as Tim Lee Hundred.　　The company's 2009 annual report shows that Tim Lee has launched a number of large-scale projects in overseas markets. This time the relevant equity investment is priced at 88.8 million yuan, but must be paid in dollars.　　The reporter calculates, after this subscription behavior completes, Tim Li hundred diligent will hold 45.9%, 44.1% and 10% of the interest respectively by the Tim Lee industry, King Shine and Tcl Group, and Tim Lee will no longer be a subsidiary of the Tim Lee industry, but would become its affiliated company. September 28, TCL announced the announcement of "enter" the venture investment industry.　　On this equity investment, Tcl said, "according to the total investment of 88.8 million yuan, the annual return on this investment will be around 10%, this is a good investment." It is understood that TCL group in September 2009, on the basis of strategic and Investment Management Center, the capital invested RMB 200 million to set up a wholly-owned subsidiary Huizhou TCL Venture Capital Co., Ltd. and tasted the investment sweetness.　　By the end of August 2010, TCL Investment Company has formed four funds, the total management of funds has exceeded 600 million yuan, has invested 9 projects. When the TCL Group announced its entry into the venture industry openly, the method of investment has been limited, for example: venture capital funds are limited to the free capital of companies and subsidiaries, the total investment will not exceed 500 million yuan, the company and its holding subsidiaries to form a fund to raise the external non-owned funds do not occupy this amount, Within this range, the funds used by companies and holding subsidiaries for venture capital can be recycled, and the proceeds from venture capital projects can be used in a rolling state without taking up the investment quota.　　It is reported that this is used to reduce investment risk means. RightIn the object of venture capital, Tcl said that the future will be the main investment in unlisted companies, investment business will be affected by external economic environment fluctuations, the target TCL group industry environment and the impact of the enterprise's own operation, the project launch time and expected return of certain uncertainties.　　TCL controls and lowers investment risk by controlling the proportion of investment in early projects, the proportion of investment in a single project, the choice of investment objects, rigorous project operation processes and scientific and reasonable investment decision-making mechanisms.　　In addition, TCL also declared that venture capital mainly through the cooperation with local governments to guide the fund, and the introduction of social capital to form a fund for venture capital, will not affect the development of the company's main business, will not involve, affect the company to raise funds, nor to corporate governance and compliance with the law of the business　　[Page] The Shenzhen industry giants to rush to venture investment in the ZTE Industry, is not the first time to enter the field of venture capital, has been listed on the gem of the National technology is its classic. National technology was founded in 2000, the earliest name is "Shenzhen ZTE Integrated Circuit Design Limited liability company", by ZTE Investment 30 million yuan holding 60%, after a series of equity transfer, executive incentive, the introduction of strategic investors and other operations, to the IPO after the ZTE shareholding has fallen to 20%, total 21.76 million shares, retreated to two shareholders.　　But it is the 21.76 million shares that have brought huge returns to ZTE. ZTE's valuation has even been affected by this factor, China Merchants Securities analyst Forecast company 2010&mdhttp://www.pedaily.cnash;2011 annual EPS (earnings per share) for 1.08, 1.43 yuan, according to "2011 25& MDHTTP://WWW.PEDAILY.CNASH;30 times + National Technical value ", the target price of six months to one year 36.7&mdhttp://www.pedaily.cnash;43.8 yuan, maintain" strongly recommend "rating.　　Citic Securities, Oriental Securities analysts also said that compared to small and medium-sized stocks, ZTE's valuation advantages are very clear, and will gradually show that some of the funds outflow from the high valuation companies will likely choose ZTE as the investment target of the new industry, thus becoming the impetus for ZTE's valuation further rise. Clearly, ZTE has a good start in the field of venture investment. ZTE said that the proposed ZTE Venture capital fund Management Company (ZTE Fund's only general partner), through the platform to open up financing channels, and the use of external resources, to play the internal advantages of ZTE, fully integrated communications industry chain, promote the development of the company's main business, And through the primary market and two-tier market effective linkage, asset management, to obtain income. The development of the ZTE Venture capital of 1 billion yuan, the operating period of "5+3" year, will be invested in the national Industrial policy support, and economic restructuring related to the high growth of the industry segment market leader,TMT industry as the main investment direction, investment ratio of not less than 70%. According to incomplete statistics, in Shenzhen, there are more than 400 venture investment institutions, at least 40 are established by industrial giants. Including Han's laser, Konka group, with the State electronics, Merchants Group, Griss, Masfiel, Baoan Group, Panglin hotels and other industrial giants have been involved in the venture capital industry.　　They enter the industry in a variety of ways: or set up specialized venture companies such as Han's laser, or set up independent group of VC companies such as Masfiel, or in the group set up a special investment department, such as Huawei. Through investment, the industry giants in the realization of huge wealth value, for the group's main business, while some also to achieve the industrial transformation. If the real estate industry in China Bao ' An, through investment Barrett and Heroes Technology, a leap into power lithium battery industry leading enterprises.　　In the investment of the above two companies, the former performance growth is strong, the latter entered Shandong, successfully acquired Linyi Jie Energy Materials Co., Ltd., continued to China Baoan in the new energy materials industry to expand and help. "Professional venture capital company should be fearless" for all the people, including industry giants have to kill into the venture into the industry, the Chinese venture investment sector "Godfather" level figures, IDG founder partner Shong pointed out that the venture is not a mass movement, the swarm is certainly not good.　　He says many funds are in a hurry to build, and it's dangerous not to have a good team. Unlike Shong's attitude, Shenzhen Oriental Investment Co., Ltd. chairman of the Xiaoshuirong and Shenzhen Oriental Rich Sea Investment management company partner Meikian welcomed the attitude.　　Xiaoshuirong believes that from industrialists to investors should be a trend, because the industry giants if the formation of a good professional team to invest, or commissioned professional venture capital to manage VC funds, the prosperity of the venture will be very good. Meikian that the industry giants have been involved in the venture industry, though they have industrial experience investment rationality and other advantages, but there are two major "mishap": the first is the decision-making mechanism, most of their operations are not in accordance with international practice, in the investment sector after the selection of projects, after the approval of the layer, and finally by the enterprise Mister Signature, low investment efficiency The second is the incentive mechanism, their investment sector staff income is difficult to link with the contribution, will affect the enthusiasm of investors and then affect the outcome of the venture. Throughout the global venture capital, doing a good job is not the creation of capital investment.　　Professional venture companies should not be afraid of the industry giants to become competitors. Some experts believe that even if TCL has done a rigorous risk control, for venture investment industry, some risks are unavoidable, such as: market risk, liquidity risk, performance risk.