The Birth of Shanghai's First Conglomerate

Tencent Entertainment is undergoing a major industrial relocation.

The commotion was quite significant, but fortunately, it had been reported in advance.

Moreover, the main force that withdrew was only the newly established Deer Antler Coffee.

Although it's regrettable, it's understandable.

After all, the coffee scene in Shanghai is much more vibrant.

Fortunately, only Deer Antler Coffee withdrew; otherwise, the three-year tax exemption period for startups would have been over.

He moved everything out.

Especially Tencent Entertainment, which is already one of the top five entertainment groups in China.

Who could stand that?
Those department heads, regardless of rank, all had to invite him for tea.

Small businesses can simply move on.

If a group with a market value of tens of billions were to simply move away, the district head in charge of this area would be held accountable.

If there were one less company like this, how much less tax would be paid each year?

There are also GDP assessments and comparisons of various economic indicators between regions.

He'll be paying taxes next year, and he'll have to pay at least four or five hundred million this year.

Before paying taxes, it is natural to clarify the group's finances.

Chen Pingsheng then established another company, Mingteng Supermarket Management.

His main responsibility is to collect rent from his own family.

Tengchao Commercial Management was a multi-billion-dollar enterprise from the moment it was established.

Chen Pingsheng transferred his two headquarters and eight large storefronts in the Tenghui Supermarket to the company.

In addition, all 14 existing clubhouses of Shuiyunjian will be injected into this Tengchao Commercial Management.

According to financial calculations, his commercial management service company has total assets of around six billion yuan.

This includes a headquarters building in Beijing worth 1 billion yuan and a headquarters building in Shanghai worth 1.6 billion yuan.

The eight entire floors of Tenghui Supermarket purchased for 1.8 billion yuan, and the 14 super clubhouse storefronts purchased by Shuiyunjian for 15 billion yuan.

Unbeknownst to them, his family's investment in commercial real estate had reached a staggering six billion yuan.

The reason for separating these commercial real estate properties is that he does not own 100% of the company's shares.

He simply holds absolute controlling interest.

Secondly, it's about legally avoiding taxes.

The revenue from commercial real estate will be completely separated from the company's finances and accounted for independently.

From now on, all his own companies will have to pay rent to Tengchao Commercial Management, which he owns 100% of.

If Chen An'an grows up and really doesn't have any business talent...

Then she'll just have to take over the management of this Tengchao Supermarket. She can only pay rent every year and absolutely cannot sell the storefront.

These can all be set up in advance within the inheritance fund.

With this rent money, she can live a worry-free life.

A little kid with not much talent can only be a super landlady for life.

"Ahem!" Chen An'an, who was naturally a little distracted in class, sneezed loudly and felt inexplicably confused.

Who's insulting her, Sister An'an? Don't want snacks anymore?

After wiping his little nose, he decided to listen attentively in class.

She didn't want to disappoint her father; she wanted to rank among the top twenty-five in her class.

One minute later.

Hu~hu~
What's wrong with me? Why do I like to sleep in class?

I'd better get some sleep first.

The teacher will probably cover what they taught today as well tomorrow, right?

Chen An'an insisted on listening attentively tomorrow, sticking two realistic-looking big eyes on her face and studying earnestly.

……

Chen Pingsheng rented the commercial property to his own family, so naturally he wouldn't charge too high a rent.

According to all financial statistics, the annual figure is approximately 1.6 million.

With such a high income, the little brat should be able to spend it however he wants.

After the commercial real estate business was spun off, there was no need to hire many people at all.

Just set up a finance team of a few people.

They would urge any household that didn't pay rent on time.

The best company for health and wellness on Xianyu (a Chinese online marketplace) carries no risk.

A steady annual income of one or two hundred million.

Subsequent income will only increase.

……

After Shen Chengjun from Tenghui Department Store came over, Chen Pingsheng allocated 1.5 billion yuan to the area.

First, open five Tenghui hypermarkets.

Teng Hui Department Store has opened 8 stores in Beijing, and its revenue has met or even exceeded expectations.

It has an excellent reputation, though perhaps not as high as industry giants like Pang Donglai.

But in Beijing, it definitely has the best reputation.

The fresh food sector, in particular, has been a great success.

As it turns out, his previous investment of time and effort in researching all categories of fresh produce was absolutely a wise move.

He will not invest in Tenghui Department Store in Beijing again.

Instead, the profits will be generated and the business will be expanded by the current eight companies.

The average investment for a single Tenghui Department Store is around 300 million yuan, most of which is used to purchase commercial storefronts.

The profits of a large supermarket are around 50 million a year.

If there are no major changes in the market, this kind of business is very stable and long-term.

Break-even in six years
The combined annual profit of the eight stores is approximately 400 million yuan.

That's enough for it to open another one.

The extra 100 million will be used as year-end bonuses for employees.

He has always been very generous in this regard, and the speed at which he opens stores will only increase over time.

In the previous few years, it was just a case of eight stores producing one store.

In fact, after separating the commercial real estate, Teng Hui Supermarket can also apply for an independent listing.

With his profits, a market value of five or six billion is a sure thing.

Chen Pingsheng wasn't in a hurry; he wanted to wait until all the large department stores in Shanghai were open before proceeding with the IPO process. Teng Hui took 1.5 billion.

He allocated another 200 million yuan to Tengsheng Fresh, to open 50 or 60 stores in Shanghai first.

The profit margin for fresh produce is really good; the only downside is that it can't be replicated too quickly.

The initial allocation of 100 million yuan took more than half a year to fully absorb.

Even with an allocation of 200 million, it will still take just as long to be absorbed.

He's now nurturing these companies one by one, just like he's raising babies.

Once they've all developed, they'll be able to benefit him in return.

It will probably take another year or two.

None of these are industries that can be developed quickly, even if he has money.

Time is also an indispensable element for businesses.

After making these arrangements, he only had 200 million yuan of liquid funds left out of his original 21 billion yuan.

They've all been spent reasonably.

Chang Fu brought Yang Qian to see him. Yang Qian was six months pregnant and her belly was already quite large.

He also wants to move the headquarters to Shanghai.

It's mainly for the convenience of taking care of my wife.

With only a dozen or so female live streamers in his company, what's the point of talking about moving the headquarters?

Thinking about it is just a matter of a few words.

Unlike him, who went through so much trouble preparing beforehand, only now is he officially starting to move.

"Go if you want, I go to Shanghai often anyway."

"Old Chen, I can't bear to part with you."

"Come on, you're about to become a father."

Chen Pingsheng asked him, "Have you two already bought houses over there?"

"Of course I bought it."

Chang Fu said, "My wife bought it for over 40 million yuan. It has four bedrooms and two living rooms."

Previously, when Bobo Milk Tea went public, Yang Qian cashed out 75 million yuan.

Spending over 40 million yuan to settle down in Shanghai is a piece of cake.

In addition, Changfu's income is not low, and he easily earns nearly 20 million a year.

There's not much economic pressure anymore.

Back in Shanghai, he gave Yang Qian his Rolls-Royce Ghost and then brought over the Ferrari F12 from here.

They live their lives just as carefree.

"I also bought a slightly larger house there myself."

Chen Pingsheng said, "After I finish dealing with some things here, I will go there next month."

Chang Fu accompanied him for tea, and he could only say that he had gained a great deal in the one or two years he had been in Beijing.

After his wife escaped her previous repressive life, she has become more and more confident here.

Women, when you reach a certain age, you should still have your own career.

Yang Qian is currently the interim president of Deer Antler Coffee. The reason she is only interim is because she is pregnant.

No startup brand would hire a pregnant woman as its CEO.

There will definitely be a long vacation period ahead.

At her age, becoming a mother would definitely make her want to spend more time with her child.

"I'll be waiting for you, bro."

Since Deer Antler Coffee has moved there, Yang Qian will naturally have to go too.

Chang Fu said, "Your sister got married a few days ago, and Gao Hu was planning to invite you for drinks that night. We're all old brothers here, and he's not young anymore. It's not right for him to keep changing girlfriends like this."

"Gaiming, you should also advise him to hurry up and find a woman to marry. Fei Yangyang has done such a thing, what woman can't he find?"

Men should get married when they reach a certain age.

You can't be a womanizer forever; Changfu has a lot to say on this.

The main reason is that he was like this before, but after finding Yang Qian, he immediately changed his mind.

"I was too busy that day and didn't have time to chat with him. I'm going to Guangdong next month, so I'll talk to him then."

Chang Fu nodded. "Your sister is married now. Although Hu Lin's family is not well-off and his abilities are just so-so, he is honest. If Chen Qi really finds a rich second-generation, who knows how much of a womanizer he might be outside."

Chen Pingsheng had considered this point beforehand, as he knew many wealthy second-generation individuals.

Who doesn't have a wild and carefree time outside?

He would rather his younger sister find someone who isn't very well-off, but who can genuinely treat her well.

But Hu Lin is a really honest person.

He's really good to his younger sister, but he just doesn't know how to handle interpersonal relationships on his own side yet.

He even had his younger sister call him and invite him to drink with his college classmates.

He got a little angry.

Sometimes choices are like that; there are always good and bad aspects.

Those who are too smooth and worldly are usually those who have been trained by women and the workplace.

This kind of person is very good at saying one thing to someone's face and another behind their back.

He disliked it even more.

"He's only 'almost'? You'll understand when you have a daughter and she marries into a family with such a mismatch in financial circumstances."

Chen Pingsheng didn't want to discuss this topic any further. He said:

"Boiling Sheep is going public now, and Gao Hu is at his busiest right now. Once Boiling Sheep is officially listed, I'll pressure him to get married as soon as possible."

"Then his parents will definitely send your family a banner of appreciation."

Chang Fu smiled and said, "Being alone is indeed carefree, but two people make a home. We're both middle-aged now. You could even find a recent college graduate like Zhang Tao."

When Chen Pingsheng drank tea, the two old brothers would sit together and talk endlessly.

You don't need many friends in your life; having two or three true friends is enough.

They grew up together and now they can work together on a project. It's a wonderful feeling.

Chen Pingsheng couldn't personally escort them to Shanghai; there were still many things to do in Beijing.

He also had to make proper arrangements for his relatives.

His third aunt and uncle, after coming to the capital, didn't want to go back.

Grandpa and Grandma, however, wanted to go back.

(End of this chapter)