The Birth of Shanghai's First Conglomerate

Chen Pingsheng originally planned to stay in Guangdong for a while longer, but a phone call from Shanghai disrupted all his plans.

Tencent Entertainment was reported by its own finance staff for tax evasion.

To be honest, with the rapid rise of Tencent Entertainment in recent years, it must have offended quite a few peers.

He never expected the other party to resort to such a despicable tactic.

Not only did they report the company for tax evasion, but they also reported two of the leading female artists under Tengying Entertainment.

Yang Mi, Zhao Liying.

When Chen Pingsheng arrived in Shanghai, it was already late November, and the weather was quite cold as winter approached.

Affected by the real-name whistleblower report, Tencent Entertainment's stock price also fell.

The main problem is that the whistleblower was arranged too cleverly; he turned out to be a finance clerk who had worked at Tencent Entertainment for more than two years.

Chen Pingsheng took the information and looked at it. The name was Qin Xian, and the age was twenty-nine.

Before coming here, I was working at Huang Zhongshi's Huayi Film & Television.

The allegations included several cash dividends and financial misrepresentation.

Seriously speaking, almost every large company will legally avoid taxes.

Tencent Entertainment is not surprised.

Zhang Wanyi said, "Boss, Qin Xian has been confirmed to be a spy sent by Huayi Films. The reason for reporting him at this time is mainly because our film Wolf Warrior 2 is scheduled to be released on New Year's Day 2017, which coincides with the release of a major drama by Huayi."

Tencent Entertainment has already developed to this stage, so minor ups and downs won't have a significant impact.

If such a report is filed, the tax authorities will definitely come and investigate.

Until the operation is over, all of their projects will have to be postponed.

This includes Wolf Warrior 2, which he invested 200 million yuan to film in October 2015.

They really went to great lengths to make way for the Chinese translation project.

Chen Pingsheng said, "Which entertainment company doesn't use dual contracts? I think I've been honest enough, but they're still manipulating taxes. Since that's the case, let's report them too, and no one will get away with it."

"Boss, are we really going to do this?"

"That's the only way. Everyone has a responsibility to supervise tax payments."

Chen Pingsheng said, "Isn't there a big drama in the Fan family that's going through the auction process? First, pin her down, find a few people to report her for using dual contracts, and if they can't find any evidence, send two people over to help."

Fan Haomen, she's the top of the four beauties.

The drama she filmed had an investment of 500 million yuan. If Huayi wants to pull such a stunt, then let's all do it together.

With its current influence, Tencent Film Group can easily launch attacks on the entertainment industry.

Even if Xu Pidao is standing behind Fan Haomen, it's still the same.

If we're all going to resort to underhanded tactics, let's all do it together.

If these two companies were to really fight over tax matters, all the celebrities in the entertainment industry would be trembling with fear.

He must have offended quite a few people.

What's there to be afraid of? Others did it first.

A finance staff member who had worked at Tengying Entertainment for over two years filed a formal complaint against tax evasion.

Tencent Entertainment, an entertainment industry giant with a market value of over 80 billion yuan, saw its stock price plummet.

As long as the investigation continues, its stock price will keep falling.

This was an inevitable outcome.

This time it's even more ruthless, directly targeting the entertainment industry's dual contracts.

A so-called "dual contract" is a contract signed publicly and another contract signed privately. The one publicly signed is used to pay taxes.

The private document is specifically used for tax avoidance.

Tencent Entertainment is directly targeting a nearly open secret in the entertainment industry: the practice of issuing dual contracts.

If they're having a hard time, we might as well all go down together.

Huang Zhongshi never expected that this bastard would do something so ruthless, directly tearing open the rooftops of the entertainment industry.

The State Taxation Administration issued a statement announcing that it would send an expert team to audit the entertainment industry's dual contracts.

For a moment, all the big stars were trembling with fear.

Those who wish to shut down their studios overnight should do so immediately, and all outstanding payments should be made promptly.

The two largest private enterprises in the entertainment industry got to work without hesitation.

Any major artist associated with Huayi is very likely to be reported by Tencent Entertainment.

Big stars associated with Tencent Entertainment will be targeted by Huayi Brothers.

If these two giants were to clash, the only ones destined to perish would be a group of top-tier artists.

Who is inside is unknown.

The only way is to pay the taxes as soon as possible, and before the tax authorities come down from above.

Let's see if we can escape this disaster.

The scandals in the entertainment industry are getting bigger and bigger.

As for himself, he has already begun cooperating with the tax team to investigate all financial data since the listing.

Chen Pingsheng wasn't worried at all, because it was simple: he had so many private assets that he could put them up for sale at any time.

For example, a private jet worth 700 million that hasn't even arrived yet can be legally taxed by simply transferring it to another company.

The tax team's investigation will not be completed in a short time.

Huayi, who originally wanted to watch the show, is now caught up in it.

High-end business battles are actually quite straightforward, often revolving around various rules and regulations.

If there's a problem with the rules, the impact can be extraordinary.

Tencent Entertainment and Huayi are currently clearly hurting each other.

The entire industry is trembling with fear.

This is the direct impact of the eldest and second eldest brothers fighting.

Once this kind of thing starts, it drags down even the highest-level tax authorities, and it won't end according to anyone's wishes.

It is foreseeable that the entertainment industry will be living under tax scrutiny for a long time to come.

This is what they mean by "once the arrow is released, there's no turning back."

Chen Pingsheng's meaning was simple: anyone who dared to attempt to mobilize national power to target him would inevitably be brought down by him.

Xu Pidai also called, mainly wanting to protect Fan Haomen.

Chen Pingsheng completely ignored him; he had no business relationship with a real estate agent.

This time, he is determined to crush Fan Haomen first and teach him a lesson he deserves.

As for anything else, I don't care at all.

(End of this chapter)