Hongqiao furnace: From food industry to full-time venture capital

Out of Jinjiang Airport, Jinjiang label a strong "Hongqiao venture" of the large outdoor billboard on the faces: This is almost the first of the nation to advertise such a big investment company, but also the first venture in China's County. Hongqiao site data show that its main investment project for Zhanjiang National Union Aquatic Products (300094. SZ), Xuzhou US special vehicles, Xiamen Heron Yan Medicine, Shandong Bo Run Industrial, Guangzhou Royal Bank shares (002177.　　SZ) and other enterprises, as the first Jinjiang local venture company, the establishment of less than two years of Hongqiao Venture, its already owned Jinjiang Hongqiao, Jining Hongqiao and Quanzhou Hongqiao 3 Venture capital fund, the total fund scale close to 600 million yuan. "Hongqiao is in the formation of Nanan Hongqiao, the initial amount of funds raised by the fund is close to $200 million." "Close to Hongqiao people said," Hongqiao venture in 3 years, Jinjiang Hongqiao, Jining Hongqiao and Quanzhou Hongqiao Fund scale, respectively, expand to 300 million-500 million yuan, 1 billion-2 billion yuan and 300 million yuan.　　"and Hongqiao's main approach is that the fund is raised to target Jinjiang enterprises and entrepreneurs." Through the sale of transformation to do venture investment has become the main cause of Wu stove, he has turned from the industrial to do a full-time venture.　　said the person.　　Wu Furnace is now the chairman of the Hongqiao, its control of the Kiss investment is the first major shareholder Hongqiao, shareholding ratio of 38%.　　Data show that the investment was founded on October 27, 2006, the registered capital of 50 million yuan, its chairman is also the Wu furnace. At present, the kiss investment in addition to Hongqiao venture, also holds the Jinjiang century Food City real estate company 29%, Shenzhen Hongqiao 55%, Jinjiang Hongqiao 48.5%, Hongqiao (Quanzhou) investment company 100%, Fujian Shun into agriculture 42%, Jining Hongqiao 11.76% of the equity, corresponding investment is 14.5 million yuan,　　5.5 million yuan, 97 million yuan, 30 million yuan, 21 million yuan, 20.2 million yuan. "WU Stove source of funds are operating industrial income earned, which in Jinjiang Enterprise has a certain representativeness." The above people said, "and other Jinjiang bosses are engaged in the production and operation of footwear, the Wu Stove capital accumulation from the food industry." "The Wu Stove is the founder of a kiss. 2001, Kiss shares with seven wolves (002029. SZ) together into the listing counseling period, 2002 through the listing counseling acceptance.　　Since then, the operation of the Seven wolves in the clothing in August 2004, but the food companies to kiss shares have been only a few rumors of domestic and foreign listing, and in September 2008 by the Heng An group of 229 million yuan acquisition of 51% Equity, Wu Stove from the chairman into vice chairman. "In fact, the Wu stove from the kiss shares make a lot of money, but only after the setback before the decision to switch to investment." "The target of the kiss is still to become a listed company," the person said, "and now Wu Stove has invested the remaining shares in the project before the IPO." According to it, Wu Stove's entrepreneurial road began in 1985.　　At the time, the 23-Year-old Wu Stove to raise 50,000 yuan to set up Wu Dai flour factory, and then rely on the production of puffed food and jelly quickly bigger, starting from 2001 for the "Quality customer" potato chip foundry, to become the first Jinjiang with the world's 500 strong marriage enterprises. "In the preparation of the listing process, Wu Furnace felt that the profit model of industrial and venture investment is in great contrast, he has also been from the investment in the foreign investment to taste sweetness, just the use of Heng an group's acquisition opportunities to achieve transformation." "These people think," many have a certain amount of capital accumulation of Jinjiang enterprises, are now eager to venture. "The fact is that the Wu stove sold shares stake to Heng an group of time, it is the formation stage of Hongqiao venture."　　Obviously, Hongqiao for the Wu stove, has been a move, and its share of the arrangement, may also be a kind of knowledge.　　Venture investment also to be listed in spite of the establishment of less than two years, Hongqiao has made a hit.　　According to Hongqiao site information, the National Union of aquatic products are Jinjiang Hongqiao investment projects, and the National Union Aquatic Gem IPO application has been on April 30, and on June 23 to complete the inquiry, to determine the issue price of 14.38 yuan/share.　　However, the National Union aquaculture prospectus shows that its largest shareholder is a kiss investment, holding 3 million shares, the proportion of shares before the issuance of 1.25%, after the release of 0.94%.　　However, in the list of National Union aquatic shareholders, and no Jinjiang Hongqiao figure, in view of the Kiss investment is Jinjiang Hongqiao large shareholder, thus speculated that Hongqiao VC site listed in the Jinjiang Hongqiao investment in the project, the investor is to kiss the investment, and the time to invest in Jinjiang Hongqiao the establishment of a full year ahead of time.　　According to the National Union aquaculture Prospectus, KISS investment in October 24, 2007, with the Austrian investment, Yi Mei Investment, techventures second investment, Jinan Investment, the South China Sea growth and other ventures together to invest in the National Union aquatic Products, kiss the investment subscription amount of 175,200 U.S. dollars.　　Only in the price calculation, kiss investment in less than 3 years of input, has achieved more than 3.6 times times the book value-added.　　Unlike many of the current ventures that are keen on IPO (prior to initial public offerings), Hongqiao's existing 3 VC funds are the guiding Fund. "The investment period is longer, we plan is 3-5 years, (the investment enterprise) realizes the medium and new board or the gem listing target, then withdraws the equity, obtains the profit."　　Wu Stove said to the media. and Hongqiao management of the 3 VC funds have regional tendencies, taking Jinjiang Hongqiao as an example, before its investment of 9 projects, the total investment of 155 million yuan, investment areas involving equipment manufacturing, food industry, resource development, sports leisure supplies, biomedicine and characteristics of agriculture, including the number of Jinjiang projects reached 5,　　The total investment amounted to 99.213 million yuan, including two food enterprises, a shoe clothing enterprise, a leather enterprise and an umbrella enterprise. In this respect, Wu Furnace said that the company's early stage of the fund to support Jinjiang Enterprises, through the expansion of capital expansion of the scale, Hongqiao investment will invest in the regionFrom the Jinjiang to the country, "the vast number of small and medium-sized enterprises nationwide want to speed up the bigger, board the gem, so investment opportunities are particularly high."　　"In fact, Hongqiao fund management funds in addition to Jinjiang Hongqiao, Quanzhou Hongqiao and the preparation of Nanan Hongqiao, under the Quanzhou of Jinjiang, Jining Hongqiao has been far away from Shandong province of Lunan region." "Hongqiao in the conditions of maturity, but also have their own listing planning." "Wu Stove said," We plan to choose the way of listing in the domestic and foreign capital market, raise the funds needed for future development, select some key development industries or industries, set up the relevant industrial investment fund.　　From this, had considered the management of Hongqiao venture, and finally chose to entrust Professional fund management company management. "Shareholders have investment experience, can be managed by themselves, but given the future goal of Hongqiao venture is to do the brand, full-time, professional to carry out business is essential." "said the Wu stove.