How much money has Shen NANPENG made from meituan in the past five years?
Yes “ Invest in half of China's Internet ” Known as a well-known investment boss 、 Shen NANPENG, founder of Sequoia China, has been making constant moves in the capital market recently . According to the equity disclosure data on the website of the Hong Kong Stock Exchange , stay 2022 year 4 month , Sequoia China has reduced its holdings three times Meituan Shares , Shareholding ratio by 3 Month end 4.21% Down to 4 month 29 Japanese 3.19%, Accumulated cash out contract 83.24 Million Hong Kong dollars . Plus this year 1 month 、3 Of the month 2 Second reduction , Sequoia has accumulated over HK $10 billion in cash during the year .
however , Combing will find , Sequoia has been reducing its holdings of meituan's shares for several years , Not short-term behavior . Industry insiders also believe that , This belongs to the normal exit mechanism of Sequoia , Cannot be correlated with current stock market changes .
Cumulative cash out over 600 Million Hong Kong dollars
The relationship between Sequoia Capital and meituan began in 2010 year , That year , Sequoia became the of meituan A Round investors , It's also A The only investor in the round , The investment amount is 1200 Thousands of dollars . Sequoia or public comment A And the only investor in the round ,2015 year , Meituan merges with popular reviews . Wang Xing, founder of meituan, once said publicly , Sequoia is the most important investor of meituan.com and public comment , It plays a very positive role in the merger of the two enterprises .
Public information display , from 2010 From to 2018 Annual listing , Meituan has experienced at least seven rounds of financing , Sequoia chose to follow the investment several times . Since there are many investors in the next few rounds , How much does Sequoia invest , It's not known . But one thing is for sure , Whether it's Sequoia or Shen NANPENG , Have formed close relations with meituan and Wang Xing .
2018 year 9 month 20 Japan , Meituan is listed on the Hong Kong stock exchange , The total market value of about 4000 Million Hong Kong dollars . Listing date , Shen NANPENG issued an open letter saying ,“ As a positive comment of meituan from beginning to end , Investors who accompany the company all the way , We are equally proud ！”, said “ Thank Wang Xing for always treating Sequoia as a comrade in arms fighting side by side , Value our advice and help .” According to the release of meituan one week after its listing 2018 Mid year news , Sequoia China owns meituan, which has been issued B Of the total number of class shares 12.05%, Shen NANPENG is a non-executive director of meituan .
▲ Changes in Sequoia China's shareholding in meituan . source ： HKEx website
12.05%, It is the highest shareholding ratio of Sequoia in meituan , After several years, he gradually sold his shares . According to the equity disclosure data on the website of the Hong Kong Stock Exchange , from 2019 year 4 month 8 The shares held by Sequoia in Japan began to change for the first time , To 2022 year 4 month 29 End of day , Sequoia's shares in meituan have changed 26 Changes , among 25 The second is the reduction of holdings ; The shareholding ratio is from the highest 12.05%, Down to 2022 year 4 month 29 After the reduction of shares on the day 3.19%, The reduction ratio is 8.86%.
According to the above data disclosed by the Hong Kong Stock Exchange , In this year 4 In the 3 In this reduction , Sequoia successively reduced its holdings of meituan shares by about 1296.39 Thousands of stocks 、4245.72 Thousands of stocks 、50 Thousands of stocks , The average price of reduction is about 161.74 The Hong Kong dollar / stocks 、144.78 The Hong Kong dollar / stocks 、159.50 The Hong Kong dollar / stocks , The total cash out of three times is about 83.24 Million Hong Kong dollars .2022 The time of the other two holdings reduction in is 3 month 31 Day and 1 month 20 Japan ,3 month 31 Daily cash out is about 39.34 Million Hong Kong dollars ;1 month 20 The reduction on the day did not disclose the average price , Let's take the lowest price of the day 215.2 The Hong Kong dollar / Calculation of shares , The Sequoia Department cashed out at least that day 66.96 Million Hong Kong dollars . in other words ,2022 Within the year, the Sequoia Department passed 5 Reduction of meituan shares for the second time , The total cash out is about 189.54 Million Hong Kong dollars .
China Singapore longitude and latitude calculate the past of Sequoia system in the same way as above 20 The stock reduction of this time , The calculation shows that ,2019 year -2021 Year , The Sequoia family has cashed out at least about... From meituan 466.11 Million Hong Kong dollars . add 2022 Year of 189.54 Million Hong Kong dollars ,25 Total cash out of this reduction 655.65 Million Hong Kong dollars .
Up to now , Sequoia also has meituan 3.19%、 about 1.76 100 million shares , according to 5 month 7 Day closing price 157 The Hong Kong dollar / Calculation of shares , The value of this equity is 276.05 Million Hong Kong dollars . Although I don't know how much Sequoia has invested in meituan , But now we have more than 930 HK $billion in revenue , The profit of this investment is absolutely considerable .
It's not just meituan
Sequoia China and Shen NANPENG reduced their holdings more than meituan , The list of equity changes also includes A lot of spelling 、 Company 9, etc .
▲ A lot of spelling 2021 Shareholding of shareholders in . source ： A lot of spelling 2021 Annual report
According to pinduoduo this year 4 month 25 Yesterday's 2021 Annual report , Shen NANPENG holds about 1.33 One hundred million shares to buy more A Class A Common Stock , Accounted for as 2.6%, And in the 2020 In the annual report , The number of shares held by Shen NANPENG is about 1.84 Million shares A Class A Common Stock , Accounted for as 3.7%. It means , stay 2021 year , Shen NANPENG reduced his holdings to more than 5000 10000 shares to buy more shares , The reduction ratio is 1.1%.
▲ A lot of spelling 2020 Shareholding of shareholders in . source ： A lot of spelling 2020 Annual report
in addition , According to pinduoduo 2020 Annual report , Sequoia owns pinduoyue 3.19 Million shares 、6.4% Shares of . But in 2021 In the annual report of , The shareholding data of Sequoia is no longer displayed .
Go back even further ,2021 year 11 month , Xiaomi ecological chain enterprise announced on the 9th that , The number of depositary receipts transferred by the Depositary Receipt Holder Sequoia Capital through inquiry is 1760 copies , The proportion in the total number of depositary receipts of the company is 2.5%, The transfer price of this inquiry is 57 RMB / Depositary receipts , Transaction amount 10.03 One hundred million yuan . And then , Sequoia, etc 3 Depositary receipt holders intend to , The total number of depositary receipts of No. 9 company shall not exceed 7568 copies , The total proportion in the total number of depositary receipts of the company shall not exceed 10.74%. In these two equity changes , The reduction of Sequoia accounts for the largest proportion .
By 2022 At the end of the first quarter , Sequoia holds company No. 9 11.42% Shares of , a 2021 At the end of the third quarter of 15.11% Declined 3.69 percentage , Still the largest shareholder of No. 9 company .
In addition to Internet companies , Public information display ,2021 year 12 Since the month , Sequoia has planned to reduce its holdings in new industries 、 Martian 、 Sound health care 、 Huina technology 、 Yirui biology 、 Yirui technology, etc A Shares of the company . By 2022 End of the first quarter of , Sequoia is in the new industry 、 Martian 、 The shareholding share of robust medical has not changed yet ; Sequoia's shareholding ratio in Huina technology is from 5.65% Down to 1.63% after , It fell to... At the end of the first quarter 0.62%, And plan to sell all .
Or normal exit
Reduction of major shareholders of listed companies , It has always been a sensitive matter in the capital market , If the shareholders who reduce their holdings are still well-known institutions or large funds , It will attract more attention from the outside world . Especially the current poor performance of the stock market , It is easy to induce over interpretation .
For the reduction of meituan's shares , Sequoia China recently said , Company self 2010 Since, it has invested in meituan for many times ,（ Share reduction ） It is the normal withdrawal of its funds .
Founding managing partner of Chenhua venture capital 、 He Shixiang, chairman of the board of directors, analyzed China Singapore longitude and latitude ,PE、VC All funds have investment term agreements , In the withdrawal period of the fund, the investment assets need to be realized and returned to the investors , therefore , In the withdrawal period of the fund, it will choose to gradually sell the assets held by the Fund （ Including the equity of listed companies invested ）. Sequoia reduced its stake in the above company , It should be a normal behavior . Wang Jiyue, a senior investment banker, also said to China Singapore Jingwei , This kind of exit is normal operation , No need to think too much . After combing the longitude and latitude of China Singapore, it is found that , Sequoia China reduces its holdings of meituan 、 The equity of pinduoduo and other companies has lasted for several years , Not short-term behavior . But also note that , From the reduction frequency , Sequoia's reduction in meituan is at a rate of 2021 Years and 2022 The year has accelerated . He Shixiang said , Institutions choose when to reduce their holdings , Will comprehensively consider the investment period 、 The future development of the invested listed company 、 Multiple factors such as reduction price ,“ Subjectively, I certainly hope to reduce my holdings at the high point of the stock price , However, it is affected by various factors such as changes in the secondary market , This time point is not so easy to grasp .”
As for whether the withdrawal of well-known shareholders will have an impact on the stock price of listed companies , Wang Jiyue thinks , Orderly reduction has no material impact on the stock price , At best, short-term shocks , In the long run, we still look at the value of the company itself .
Sequoia plays an important role in promoting enterprises to become bigger and stronger , Still strong . According to media statistics ,2021 In, Sequoia had 24 The invested enterprise succeeded IPO, Second only to Hillhouse in quantity . On the track , Sequoia pays more and more attention to the field of biomedicine , share 8 Three companies have been listed successfully .
（ The views in this paper are for reference only , Does not constitute investment advice , Investment is risky , Entering the market requires caution .）
This article is from WeChat official account. “ The new fabric ”（ID：jwview）, author ： Xue Yufei , edit ： Lei zongrun , Reviser ： Luokun ,36 Krypton authorized release .
author[36kr],Please bring the original link to reprint, thank you.
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