Chapter 93: A Change in Plans Once Again
“Brother Lu, why are you buying a house near University Town?” Zhou Xiaowen asked.
“To be close to prestigious schools and soak up so culture,” Lu Liang replied.
“Or maybe you’re eyeing one of the university girls?” she teased.
“You know too much, Xiaowen,” Lu Liang said with a chuckle.
Xiaowen burst into laughter, assuming he was joking. In the real estate industry, experienced agents often treated newcors roughly, but Lu Liang had always been respectful toward her.
They bantered as they drove to Quyang Road near the Tongji University campus, circling the area once. The surroundings were filled with residential complexes and mid-to-high-end apartnts, with well-established living facilities.
“Brother Lu, any complexes catching your eye?” Xiaowen asked, glancing at her phone to check average prices in the nearby neighborhoods.
Lu Liang turned the car toward the entrance of a gated community. “Can you check if there are any listings here?”
In Magic City, every inch of land is precious. University Town hos are considered semi-school district properties. By observing the greenery and building distances, Lu Liang could already gauge the property’s class.
After a quick tour, Lu Liang noticed that Shuxiang Jinxiu stood out with the largest green spaces, the widest building gaps, and strict security.
“Brother Lu, your sharp eye hasn’t dulled. The average price here is 72,000 yuan per square ter, well above the average for University Town.”
Xiaowen handed her phone to Lu Liang, letting him browse through the listings. Prices were clearly marked, and she felt no need to withhold information from the ntor who had introduced her to the field.
“What’ve you been busy with lately, Brother Lu?”
“Eating, drinking, and figuring out how to spend money,” he replied casually.
“When will it be my turn to win the jackpot? I don’t ask for much—five million would do.”
Xiaowen’s eyes sparkled with envy, fully convinced that Lu Liang was the one who had emptied the lottery jackpot.
Lu Liang smiled but didn’t bother explaining. He selected two listings and said, “Contact the listing agents for these.”
One was a 135-square-ter three-bedroom unit, the other a 175-square-ter four-bedroom, two-living-room unit. Both were listed online and seed decent based on their layouts, but a physical inspection was necessary.
Xiaowen contacted the agents and negotiated the commission splits right in front of Lu Liang. The deal was simple: 1.5% commission on the total price. For a 10 million yuan sale, that ant 150,000 yuan in commission—80,000 for Xiaowen and 70,000 for the listing agent.
Lu Liang advised, “High-end properties often lack liquidity. There are plenty of listings here; you can push for 1%.”
Although the area could be considered school district housing, it wasn’t pri school property. Its location was sowhat remote, making it more attractive for renters than buyers.
In Magic City, real estate commissions typically ranged from 0.5% to 2.5%. The proposed 1.5% wasn’t excessive, but since Xiaowen was a friend, Lu Liang hoped she could earn more.
Xiaowen hesitated but relayed Lu Liang’s words. After so back-and-forth, they managed to lower the commission split to 1% for her and 0.5% for the listing agent.
A young man in a suit soon arrived, jogging over to greet them. “Mr. Lu, Miss Zhou?”
“Let’s start with the 135-square-ter unit,” Lu Liang said, opening the car door to let the agent in.
“No need, Mr. Lu; it’s just in Building 7 ahead. I’ll walk,” the agent said cheerfully, heading off to arrange entry with the security guard.
The group inspected both units. The 175-square-ter unit was larger and had more rooms, but it was on the second floor, which Lu Liang found too low.
The 135-square-ter unit, on the other hand, was on the 12th floor. Though smaller, its balcony faced Tongji University’s sports field, offering excellent lighting and views. ṚäＮȪ𝐁ЁṦ
“How much for the 135-square-ter unit?” Lu Liang asked.
“The owner listed it at 10.5 million yuan, including a parking spot. This building is well-located, so the average transaction price is about 78,000 yuan per square ter,” the agent explained.
“10 million yuan, parking spot included, full cash paynt. If the owner agrees, let’s sign the contract. Otherwise, forget it,” Lu Liang stated firmly.
His willingness to pay cash was his bargaining chip. While sellers could receive the sa amount through financing, bank involvent added layers of complexity to the process. It all depended on whether the owner was willing to compromise.
The agent made a call and returned looking troubled. “Mr. Lu, the owner insists on 10.3 million yuan.”
“It’s 5 PM now. If they agree, call before 8 PM. If not, that’s fine too,” Lu Liang replied curtly, waving for Xiaowen to join him as they prepared to leave.
Lu Liang wasn’t in a hurry. He had more free ti today and was mainly here to catch up with Xiaowen. Otherwise, he could have entrusted Wen Chao with the task, who might have found an even better deal at a lower price with enough patience.
The agent called out, “Mr. Lu, please rest assured—I’ll do my best to persuade the owner!”
“Sorry for wasting your afternoon,” Lu Liang said to Xiaowen as they drove toward the city center.
“No big deal. Haven’t we wasted plenty of afternoons before?” Xiaowen replied with a laugh, resting her hands on the seat and swinging her legs out of boredom.
Lu Liang chuckled, recalling those days. Though it had only been half a year, it felt like a lifeti ago.
“Let treat you to dinner. What do you feel like eating?”
“How about that spicy chicken pot we used to frequent?”
“Nah, let’s do hotpot instead.”
As Lu Liang passed the New World Shopping Mall, he rembered a hotpot restaurant in a villa nearby that he had dined at a few tis and found quite decent. It was closer and more convenient than the other place with the large servings but average taste.
At the villa hotpot restaurant, Zhou Xiaowen was startled by the nu prices, where even the simplest dish cost several hundred yuan.
Lu Liang, unfazed, ordered three or four small dishes and then asked, “Do you want to add anything else?”
“No, that’s plenty,” Xiaowen replied, wide-eyed.
“Alright, we can always order more if it’s not enough.”
During the al, Xiaowen was unusually quiet, her deanor reminiscent of Liu Laolao’s first visit to the Grand View Garden—still and silent, trying not to say or do anything wrong.
The final bill ca to over 2,400 yuan.
At that mont, Xiaowen finally understood the feeling she’d had earlier in the afternoon.
Lu Liang wasn’t much different from other wealthy bosses, but her past familiarity with him made it feel strange—a mix of the familiar and the unfamiliar.
It was just after 7 PM when Lu Liang dropped Xiaowen off at the real estate office. She seed to have sothing to say but ultimately stayed silent.
Lu Liang smiled, waved her off, and drove away. For now, only Old Liu could know he was wealthy and still treat him the sa—too bad Old Liu was married.
Xiaowen watched his car leave with a smile, though a hint of loss flickered in her eyes.
She didn’t exactly like him, but she did feel so affection. Still, she knew it was impossible now.
Afterward, she called the listing agent. “Manager Wu, would lowering my commission help close the deal?”
Xiaowen didn’t know when she’d see Lu Liang again, or if she ever would. But she wanted to help him, if only to put a proper end to the past kindness he’d shown her.
Before 8 PM, Lu Liang received a call from the agent: the seller had agreed to the 10 million yuan price.
The next morning, the four parties—Lu Liang, Xiaowen, the listing agent, and the property owner—t at the property registry office.
The deal closed at 10 million yuan. Lu Liang paid in full, securing the 135-square-ter, three-bedroom unit in Shuxiang Jinxiu. His personal assets now included two cars and one ho.
After completing the transfer, Lu Liang returned to his office.
He decided to leave the house vacant for the ti being, knowing it gave him an excuse to persuade Su Wanyu to move in and “help look after it.”
Around 3 PM, Lu Liang was discussing office space and staffing for the private equity fund with ng Changkun.
The location was finalized at the New International Building, which had a total area of 3,800 square ters.
Lu Liang planned to renovate 1,000 square ters for the fund’s office and trading floor.
As for staff, he proposed hiring four novices and two experienced traders to start, using a ntorship model, with plans to expand as needed.
While they were talking, Lu Liang received an unexpected call from Hu Weiwei of Mobike. She ntioned being in Shanghai for work and asked if he had ti to et.
“President Hu, I’ve still got a few things to take care of. Why don’t you co by my office instead?” Lu Liang replied with a slight smile, idly spinning his lighter.
He suspected this wasn’t a casual visit. Hu Weiwei’s decision to co to him likely ant she had sothing important to discuss. Inviting her to his office shifted the dynamic—what could have been a casual conversation turned into a formal visit.
“Of course. What ti works for you?” Hu Weiwei asked politely.
The last ti Lu Liang visited Hangzhou, his reputation was modest. Now, with two successful trades under his belt and plans for a private equity fund, he had beco soone she had to look up to—a visit was only appropriate.
“Let’s make it five o’clock.”
After ending the call, ng excused himself. “I’ll leave you to it.”
Lu Liang nodded. “See you later.”
Lu Liang spent the next hour casually playing gas on his computer. Even when Hu Weiwei arrived early at 4:30 PM, he instructed Xiao Chen to let her wait, deliberately testing her patience.
At 5:05 PM, he finally put down his phone and said, “Xiao Chen, invite President Hu in.”
Hu Weiwei entered directly and got straight to the point. “Mr. Lu, Mobike plans to launch its Series A funding round this Friday.”
“What’s the valuation? And how many institutions are interested in participating?” Lu Liang asked with a calm smile.
Lu Liang was montarily distracted. Once again, events had diverged from his initial expectations.
Originally, his data had predicted that Mobike’s Series A funding round would take place on September 28, with a valuation of $18 million USD. Yet here they were, a full month ahead of schedule—on Friday, August 19—and the valuation had dropped to $10 million USD.
“Our valuation is $10 million, with venture capital firms like Sequoia, Morninglight, and Jingfeng expressing interest in participating,” Hu Weiwei explained.
“Why choose this timing for the funding?” Lu Liang asked, frowning. A valuation $8 million lower than expected seed alarming.
“Because of ofo...”
After a mont of hesitation, Hu Weiwei decided to be upfront. Mobike shouldn’t have been seeking funding at this valuation, but they were left with no choice due to ofo’s aggressive moves.
Dai Wei had copied nearly all of Mobike’s operational strategies. To attract new users, ofo had launched extre promotions, such as three days of unlimited free rides for new sign-ups and five days for just five yuan.
Mobike’s production costs were double those of ofo, making their bikes far more expensive. The higher costs also slowed their deploynt rate, putting Mobike at a significant disadvantage. Their leading position in the market was in jeopardy, forcing them to accelerate their Series A funding.
Lu Liang understood and felt a slight sense of relief. His agreent with Dai Wei to engage in a “bet-on” deal seed to have triggered ofo’s reckless expansion. This, in turn, had pressured Mobike into launching its Series A early.
This wasn’t the first ti Lu Liang had altered an outco. What mattered was that the change remained tied to him; the worst-case scenario was a change unrelated to him that spiraled beyond his control.
Lu Liang asked, “President Hu, if Tianxing Capital joins, how much equity can you offer us?”
“Three percent. We’re offering 10% equity in total during this round,” Hu Weiwei replied.
She wanted Lu Liang to hold more shares. His backing would not only bolster Mobike but also give her greater leverage within the company. However, she had to consider Li Bing’s position. After all, it was Li Bing who had brought the three venture capital firms into the fold, and they couldn’t be left with nothing.
“Three percent is a bit low,” Lu Liang said, furrowing his brow.
He already held a 20% stake in ofo. To effectively hedge his risks, he needed at least 10% of Mobike’s shares. That way, no matter which company erged as the ultimate winner, he would still profit.
“Mr. Lu, I know it’s not ideal, but this is the maximum percentage I’m authorized to allocate. I promise that in the next round, Tianxing Capital will have the leading position,” Hu Weiwei assured him, looking apologetic.
“Where will the fundraising gala be held on Friday?”
Lu Liang smiled, shifting the topic. The outco had already changed, and whether Mobike would even make it to the next round was uncertain. Three percent was better than nothing.
Besides, he was keen to use this opportunity to et Li Bing.
Just last month, Li Bing had founded NIO, a startup focused on smart electric vehicles. Lu Liang had checked the company’s registration details and found that it appeared to be an innovative EV brand.
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