講座謝岷ppt課件-資料下載頁(yè)
2025-05-05 18:57本頁(yè)面
【正文】 er, the Company possesses a full production chain in manufacturing and marketing a variety of photovoltaic cells and modules for electric power applications. It is the only solar energy pany in china that owns assets from raw material exploitation, refining to production of cells and modules. ? The pany is carrying out a new US$400m investment project to expand its production capacity of photovoltaic cells Origination ? Business consultant with strong relationship with the Board of the parent pany Investment date May 2022 Valuation US$ Entry multiple 89x P/E 2022 Equity investment US$70m, CB 10% pa 1st year amp。 12% pa 2nd year, 30% equity, target IRR 30% . 2022 Sales US$ 2022 PAT US$ Exit 2030x PE 2022 amp。 IPO Investment thesis / Value added ? Increase production capacity to facilitate market reach and to meet overwhelming product demand ? Securing scarce raw material resources ? Building international brand and work ? Build up access to international capital market ? Introducing international standard of corporate governance Exit strategy ? Initial Public Offering ? Trade sale to international/domestic strategic investors ? Redeem CB PreIPO Opportunity Strategic minority investment in a leading solar energy equipment producer in China that seeks growth capital and IPO in 2022 Target IRR 30%+ 謝岷 PE系列講座之一 : PE事業(yè)概述 29 A mezzanine investment in Beijing property Business opportunity ? A Beijing property developer owns a 4floor shopping mall of 36,173m2 and an office building space of 35,221m2 at the same prime location, which generate good rental ine. The pany also is developing a 100 villa project near the Beijing airport, which has been 60% pleted and launched sale in the market. ? The Company has some financial difficulties due to the expansion of new villa project and the loan recall by Bank of China about 10,000 m2 of office space are secured by the bank ? The Company needs US$20m+ to replace the bank loan (US$15m) and to bridge financing of the new villa project. The Company is willing to accept high interest rate plus a certain profit sharing on its villa project development. Origination ? Direct contact with CEO, the owner of the Company Investment date Deal available now Valuation Discount to market Entry multiple 1012% yield, 23 years Equity investment US$20m needed 2022 Rental ine US$ () Exit Loan repayment + profit sharing Investment thesis / Value added ? Private equity investment in bination of highend residential property development and mature Grade A mercial property with stable rental ine. Very little risk with well balanced deal structure ? Help the Company to meet the urgent funding need and receive a high yield return and profit sharing on the new villa development, so that our total investment return can be enhanced ? Target return: IRR 18% , with 1012% annual yield for 23 years plus equity profit sharing Exit strategy ? Scheduled repayment。 mezzanine instrument pledged by the assets and cash flow of the Company PE/RE High Yield 1012% . secured by rental cash flow and new villa sales. Assets pledge with minimal downside risk and profit sharing incentives on new property development Target IRR 18% with minimal risk
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