Zhang Lijun, who has been hiding behind state-owned shareholding enterprises for many years, is creating a myth of wealth and wealth that is hard to believe.

Zhang Lijun, President and party secretary of the first video group, is sitting directly among the two directors of Hongkong Yi an international.

Not long ago, the latter bought a 24.99% stake in one of its first video groups under the cost of HK $240 million and made Chang Lijun become a major shareholder of Hongkong Yi an international.

However, to the surprise of the outside world, only more than 100 days ago, the first video group owned a subsidiary with a net asset value of only about 200000 yuan and a loss of several million yuan a year.

After the merger and acquisition of Hongkong Yi an international, the first video group, as the buyer, Zhang Li Jun, has become a company with a market value of HK $1 billion 500 million.

Dr. Zhang Lijun graduated from Tianjin Nankai University from 400 million Hong Kong dollars to 1 billion 400 million Hong Kong dollars and 44 years old.

In addition to the chairman and executive director of the first video board, Zhang Lijun is also chairman of APEC development committee, member of China APEC Business Conference and chairman of the Department of international communications.

Prior to this, Zhang Lijun was chairman of the board of directors of Zhongyi international economic group (founded in 1993) and chairman of the Zhongtian communications industry group (mainly engaged in telecom operation and value-added services).

Now Zhang's army has become the party secretary of the first video.

The above HK $410 million Hong Kong dollar originated from a convertible convertible note issued recently in the first video.

In July 23rd, the first video announcement said that the company had completed the issuance of the convertible share certificates.

According to previous subscription agreements, the first video was issued to 6 independent third parties, including JP Morgan and Lehman Brothers, at a preliminary exchange rate of HK $4.1 / share, with a maturity of 2 years and a total of 410 million Hong Kong dollars. The annual interest rate is as low as 1.5%.

According to the announcement, the initial exchange rate of HK $4.1 / share was taken from the closing price of HK $4.01 per share before June 22nd (about 2.24% premium) before the first video.

But in fact, during the first trading days before the suspension, the first video price fluctuated sharply in several days, and its share price jumped from HK $1.6 in March 2007 to HK $4 in June.

The price of the 6 subscribers, such as JP Morgan and Lehman brothers, is rising.

If the exchange rate is fully converted at this price, the shareholding ratio of Zhang Lijun (and its contacts) will be diluted to 21.10% from the original 22.42% (about 359 million shares), but according to the exchange price of 4.1 Hong Kong dollars / share, Zhang Lijun's personal wealth has exceeded 1 billion 400 million Hong Kong dollars.

This is less than 1 Hong Kong dollars worth of 400 million years ago.

For the less fortunate people, clever capital operation can also become a lethal weapon. But for Zhang Lijun, capital operation seems to have been fixed on the surge of wealth.

For the first time, people learned the power of Zhang Lijun's capital operation in July of 2006.

At that time, Hongkong Yi An International (the original "Yi an international"), which was seriously damaged by the main business of traditional Chinese medicine manufacturing and trade, reached an agreement with Zhang Lijun's first video: Yi an international issued 385 million new shares at HK $0.63 per share to purchase the 24.99% stake of the latter one, the first video digital media Technology Co., Ltd. (hereinafter referred to as "TMD1").

After the battle, Zhang Lijun, who owns 49%TMD1 shares, indirectly enjoys 25.9% stake in Yi an international, sitting on nearly 400 million yuan, and thus becoming the largest shareholder of Yi an international.

The question also comes from the TMD1. reporter who learned from relevant channels that in the whole year 2005, the cost of TMD1 to pay salaries and allowances for all employees is only about 200000 yuan.

Yi an international also disclosed in a circular letter of 2005: TMD1's net asset value in April 30, 2006 was only 222 thousand yuan.

In other words, in a hundred days, Zhang Lijun sold 24.99%TMD1 equity to Yi an international, and sold the net assets of 6 and 70 thousand yuan to HK $240 million.

Zhang Lijun seems to have no definite advantage in the field of Internet video. "I know that many Internet video" authority "people do not think the first video is very special.

That's because the first video is just a demonstration, and it is our implementation platform for some tentative ideas. "

In his view, with the change of time, the capital market and the Internet industry are undergoing unprecedented changes. The future of development will depend largely on the amount of capital and the lack of business qualifications.

"Now the first video is China's most capital and most qualified video website.

This is why we can successfully complete the convertible share issue today in the increasingly harsh environment of financing. "

It is learnt that the proceeds from the convertible share issue will be used to support the development of the first video related businesses.

"Truly" first "is not about click rate or revenue. The first video should maximize the impact on those who are" influential ".