Chapter 630: Chapter 453: The Final Preparations
Relatives from the Chen, Song, and Liu families amounted to at least fifteen people.
Chen Pingsheng, being busy with his own business, didn’t have the ti to attend to them, simply allowing them to take money and prove themselves in the market.
Those who were capable could stay in Magic City.
Those who weren’t would eventually return to the countryside.
Opportunities are limited, and once wasted, there’s no possibility of getting more.
A case like Liu Wei, who forced him to buy a Ferrari by threatening to jump off a bridge, was the first of its kind.
...
And his death naturally gave everyone an unsettling chill.
After all, for Chen Pingsheng, buying a Ferrari was too trivial.
The number of Ferraris lying unused and gathering dust bought by his wife was countless.
Even so, Liu Wei proved sothing with his death.
Nobody can use their life to force him, and they should not overvalue their own life.
Nor should they overestimate such familial ties.
He set up a family entrepreneurship fund with several hundred million, rely so that the younger generation of the Chen, Song, and Liu families wouldn’t fall too far off the wealth track.
He offered them several opportunities to start businesses but it did not an he placed much importance on these kinship relations.
Hence, when Liu Wei’s parents arrived, he didn’t even show his face.
This also served as a reminder to everyone not to try moral coercion.
Those who reach his position simply do not buy into that.
If you can’t achieve certain success with the chances given, you do not even have the right to et him again.
Not to ntion trying to trade one’s life for a Ferrari.
Oh… After death, you can burn a couple of toy versions.
That would be considered going to great lengths of kindness.
As the saying goes, “In poverty within the bustling city, no one inquires; in wealth amidst the remote mountains, distant relatives are kin.”
Reaching his level, even he himself didn’t understand why he had so many relatives.
Let alone dealing with their trivial matters.
On the last day of May, Tengfei New Energy officially started the post-production testing phase for P6.
The event was a gathering of prestigious individuals.
Countless from the entertainnt and institutional circles.
At Chen Pingsheng’s command, the P6 model began its half-year-long, 50,000-li (about 25,000 kiloters) technical safety test.
This was also the final round of tests before going public.
To cope with the hefty investnt in the coming half-year, Chen Pingsheng also sold 15% of his shares in Yateng Short Drama and 3% in Xin Teng Live Streaming.
With a price tag of 25 billion, he wrapped these up and sought buyers.
The market value of Xin Teng Live Streaming had already reached fifty billion, while Yateng Short Drama was around eighteen billion.
After selling these shares, his remaining stakes in Yateng Short Drama and Xin Teng Live Streaming would be the sa as in Fei Yangyang and Snacks Dash.
Only the last 5% would be retained.
Short videos were still rapidly erging, and the earnings from short dramas were still quite good.
Such bundle sales could quickly find a suitable buyer.
After receiving the twenty-five billion, Pingsheng again used his Golden Finger’s random amplification function.
Sohow influenced by bad luck, he only managed a double.
Even including the principal from this round of cashing out, it was still far from enough to sustain Tengfei New Energy for half a year.
After all, there was a major research and developnt project underway—a solid-state battery.
Left with no choice, he put up 10% of Tengying Entertainnt’s shares valued at one hundred billion in search of strategic partners.
Entertainnt stocks are what they are, they will not likely surpass one hundred and sixty billion in the future, and he would certainly choose to retain corporate control while successfully cashing out at high levels.
This is in complete accordance with the basic logic of the capital market.
All this was in preparation for the future.
Selling off stocks that won’t rise in the short term, he invested the money into projects with more potential for appreciation.
This is sothing every entrepreneur must do, and he was no exception.
Tengying Entertainnt, known as a cornerstone of the entertainnt industry, has remained very stable over the years.
After this sale, he would be left with only the last 10% controlling stake.
And he had no plans to make further moves in the next five years.
Two substantial cash-outs in a row had created quite a stir in the capital market.
Yet, the money from these two transactions was not used to improve his lifestyle but to expand the research and developnt scale of Tengfei New Energy.
Intended to build a better research and developnt team.
So far, Tengfei New Energy had invested a total of 1,350 billion.
This might seem like a lot, but consider that Toyota had a net profit of 2.49 trillion yen globally in 2017.
That’s approximately 1,448 billion RMB.
In other words, his investnt over the years rely equates to Toyota’s one year of net profit.
To truly beco global in the automaking field, one hundred billion doesn’t even pass the threshold.
Two hundred billion is only enough for contract manufacturing, and five hundred billion is just the start.
Eight hundred billion is still entry-level.
Only with continuous investnt can Tengfei grow into a leading global new energy vehicle company in the next three to five years.
With this year’s investnt of 175 billion, the funds are completely sufficient.
In the next three years, he will need to invest at least 1,200 billion more, which ans maintaining a research and developnt budget of three to four hundred billion every year.
This is absolutely non-negotiable.
Once a grand project is decided upon, one must be prepared for the possibility of consecutive losses for three, five, or even eight years.
Based on the current sales volu of new energy vehicles, it’s not enough to sustain such investnt.
In technology industries, one must look five to ten years ahead.
If focused only on the present, any new new-energy vehicle company would be unable to turn a profit within five years.
It’s a matter of how much loss is incurred.
In this regard, he believes Huawei is truly the most far-sighted dostically.
Whether it’s chips or self-developed systems, they commit to five to eight years of developnt.
Before results erge, these undertakings truly just burn cash.
Once the results are realized, however, they beco a deathblow surpassing all peers.
Chen Pingsheng must hold this line firmly, and certainly won’t reduce Tengfei’s research and developnt investnt for at least the next three years.
He will only continue to increase this proportion.
Until Tengfei New Energy can claim the top dostic spot.
Sotis that’s how technology industries work; the founder’s vision directly determines the future outco of the company.
With the re-injection of 175 billion, he gave all the engineers and scientists under him a dose of reassurance.
They just need to persist in technical innovation at the research and developnt center.
Everything else, Chen Pingsheng would handle.
This is also the biggest benefit he, as a layman boss, could bring to everyone.
Tengfei P6 officially began its testing phase, and relevant data was continuously being gathered.
This would definitely throw a deep-water bomb into the dostic new energy vehicle market.
After all, he’s genuinely spent three years crafting this blade.
If looked at from a purely profit-making perspective, Chen Pingsheng was sure that investing this more than a billion in any other industry wouldn’t fare worse than new energy vehicle production.
Clearly, in this industry, he needs to invest another trillion or so to see profit prospects in the future.
And this process would take no less than three years.
Adding the ti already invested, that would be a full six years.
This was Tengying Group’s longest wait yet.
This half year is still a ti for perfecting technology.
It’s only after this half-year that the real results will be apparent.
Reviews
All reviews (0)