Zebao won the bet and successfully achieved a net profit of 443 million yuan in three years!

Zebao completed a three-year performance bet of 443 million yuan!

The betting is nothing new in the cross-border circle. In recent years, many cross-border e-commerce companies have realized their dream of going public through mergers and acquisitions of listed companies, which is commonly known as backdoor listing.

But this method has a risk, that is, performance betting. Judging from the situation in recent years, most of them are in a mess. Among them, the most impressive one is that the founder of Jiazhilian, Gan Qingcao and his wife, lost the bet and were sued for 1 billion yuan.

At present, only Zebao has completed the gambling agreement with its listed parent company.

The promised net profit was exceeded for three years, and Zebao succeeded in the bet

Today, Xinghui Co., Ltd. (Xinghui Precision was renamed Xinghui Co., Ltd. last year) issued an announcement entitled "Attestation Report on the Completion of Performance Commitments of Shenzhen Zebao Innovation Technology Co., Ltd.", indicating that Zebao Technology achieved a net profit attributable to the parent company's ordinary shareholders of RMB 246.9912 million after tax in 2020, which was RMB 56.9912 million higher than the promised amount, completing 130% of the promised net profit for this year, that is, Zebao Technology has achieved the promised net profit for 2020.

At this point, Zebao’s three-year performance bet has been completed and ended with Zebao’s victory.

It is reported that in the performance commitments of both parties, Zebao needs to achieve a net profit of no less than 108 million yuan (inclusive), 145 million yuan (inclusive) and 190 million yuan (inclusive) in 2018, 2019 and 2020 respectively.

Among them, during the performance commitment period, Zebao's performance commitments were achieved as follows:

It can be seen that Zebao has exceeded its promised net profit for three years.

Nowadays, acquiring a company with potential and rapid growth in a fast-growing industry is a way for many old listed companies to change their current situation of lack of growth. Although the idea is beautiful, the reality is very bleak. At present, there are very few successful cases. Among the few successful cases, Xinghui Shares is obviously lucky.

Looking back at Xinghui's performance from 2017 to 2020 , the revenue in 2017 was 526 million yuan . In the three years after the merger, the performance soared, with revenue of 711 million yuan in 2018 and 3.491 billion yuan in 2019. The revenue in 2019 was 5.523 billion yuan .

It can be seen that after the merger and acquisition, Zebao’s contribution to Xinghui ’s revenue is very large.

Sun Caijin, founder of Peking University

The editor remembers that before this, a photo of Jack Ma, Pony Ma and other leading figures of Internet company giants sitting around a table was widely circulated on the Internet.

At that time, someone photoshopped the market value of the company they led onto each person's head , and pointed out that on the surface, it was just a bunch of numbers, but from another angle, it was actually famous universities such as Renmin University and Peking University.

What the editor wants to say is that this picture can also be applied to big sellers in cross-border e-commerce.

As for Zebao, the background of its founder is not simple. According to relevant information, Zebao's Sun Caijin ( Frank) graduated from Peking University, one of the best universities in China. He also graduated from an Ivy League university in the United States and has been in Silicon Valley for many years.

In the cross-border circle, there are many company founders who have pedigrees from prestigious universities like Sun Caijin. According to the editor, Chen Wenping, who is in charge of Saiwei E-commerce, was once a top student of Harbin Institute of Technology. Qian'an Technology, which was previously reported to be impacting the A-share market, was founded by He Ding, who also holds a Ph.D. in computer science from the University of Illinois, and Lu Haichuan of Aoji International holds a master's degree in economic engineering from the University of Mannheim in Germany.

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