The Birth of Shanghai's First Conglomerate

It's not just the domestic situation that can change so quickly.

The situation abroad, especially in some surrounding regions, will also undergo a series of unpredictable changes due to the turn of this behemoth, China.

Shen Nanpeng said that in addition to the fact that Singapore is a tax haven, there are a number of other factors that lead wealthy people to immigrate there.

Chen Pingsheng didn't look into it much, mainly because he didn't want to immigrate.

It has only transferred its most important assets to Hong Kong and closely followed the country's development strategy to ensure its future investment path.

This year, something quite interesting happened: the four internet giants—Alibaba, Meituan, Richard Liu, and Tencent—have all heavily invested in the grocery delivery sector.

This has greatly angered ordinary people.

These major domestic internet companies have ultimately turned their axe on small businesses and vendors.

Everyone is throwing money around like crazy, trying to deprive ordinary people of their ability to survive in this market.

Many people even approached Chen Pingsheng, hoping he would invest some money as well.

Chen Pingsheng refused without hesitation, regardless of how much money the business could actually make.

It's like a few large companies with hundreds of billions of dollars going to steal business from vegetable vendors who work from dawn till dusk.

That's not a fair thing to do.

Outsiders may not know how vegetable vendors make money, but surely Chen Pingsheng, a fruit vendor selling durians on the street, knows perfectly well?

They have to get up at one or two in the morning, and the whole family is busy picking and choosing, arranging and clearing out goods until three or four in the morning.

Then, when they opened the market to sell vegetables, they mostly made a profit of one or two yuan from the elderly.

The hard work involved is something that not everyone can do.

And this is just for ordinary vegetable vendors. If it were fish vendors, you could tell how frozen the water would be in the dead of winter mornings.

Tong Zhelan also mentioned that the public's opinion of the internet in China is declining sharply.

The main reason is that after so many years, many people are reflecting on the development of the internet.

You ask how much it boosts the economy? If one clothing store with sales exceeding 100 million yuan rises, countless physical clothing stores will collapse.

Moreover, online stores do not require paying taxes.

In the mobile internet era, the entire traditional industry is rapidly losing its vitality.

This is one of them.

The second is the internet ride-hailing service that was all the rage a few years ago.

Initially, it benefited most drivers, with various subsidies doubling or tripling their wages.

Over time, once a single company achieved a monopoly, everyone was surprised to discover that this product not only failed to increase income but actually reduced it by more than 30%.

This has once again sparked public reflection on the development model of the internet.

And most importantly, internet companies have eventually started to get involved in finance.

That is, lending.

It's not enough for young people to live paycheck to paycheck; they also need to spend their money for the next six months or even a year in advance.

Now they're going to ruin the vegetable vendors' livelihoods.

Given all these factors, the domestic internet industry is highly likely to encounter an official document.

What is an official document (red-headed document)? It is absolute administrative intervention.

We don't know exactly where the damage will occur, but one thing is clear: there will definitely be some restrictions.

This will also be a turning point for the entire internet.

This information is especially crucial for angel investors, as the domestic market does not follow the Western market economy model.

The economy is more policy-driven.

In other words, the market will develop in the direction the policy moves.

Even the slightest hint of such information could drastically change Tong Zhelan and her team's investment strategy.

At the very least, it will significantly reduce investment funds in the internet sector.

Chen Pingsheng is alright; he doesn't invest much in internet companies anyway.

The only companies I've invested in, Pinduoduo and Waimai Tuan, weren't even in their early angel or Series A/B rounds.

He only went in when he had grown up to be quite good.

As for Guazi Used Cars, it seems to be doing alright and has met certain conditions for listing.

Apart from new energy, which closely follows the national direction, other investments are still following the old path of traffic generation + traditional industry IPOs.

He also reached the pinnacle of the industry on this path.

This allowed me to frequently drink tea with Tong Zhelan and Shen Nanpeng, exchanging our experiences.

Chen Pingsheng's future path is clear: based on Tencent Entertainment, Tencent Media, and the traffic generated by Xinteng Live.

It quickly covers the food, drink, and entertainment industries in traditional sectors.

Of course, his more crucial task was to establish such a complete investment system.

The investors in the Dream Fund are all senior executives he recruited from various listed projects.

They have extensive experience in traditional industry management.

It's better to let them do the investing than for him to go around looking for projects all by himself.

Moreover, it's impossible for him to mentor every startup project.

The key to future investment still lies in perfecting this system, and he has even begun to consider building his own Tengying Commercial Theatre.

Unlike Professor Ma's Hubei University, his program is geared towards cultivating mid-to-lower-level management talent for the entire society.

It's true that Hubei University is quite impressive, as it gathers countless top-tier business resources from across society.

Only the top second or third generation can get in. Even the first generation, those who perform exceptionally well, are eligible—not to mention what kind of teaching they provide!
You could say that bringing all these people together could be classified as forming a clique.

If these people gang up on you and try to take away your livelihood, who can withstand it?

Therefore, establishing a university like this is an ambition that has expanded to an unimaginable degree.

Otherwise, who would dare to do this?

Grandpa Tong Zhelan has commented on this university. When he talks about it, he frowns slightly and remains silent.

It's clear that some problems have begun to surface; it's just a matter of when they will erupt.

Shen Nanpeng also said that Chen Pingsheng's smartest move was to invest his large sums of money in the new energy market.

In addition, he also actually started a Tengnong breeding business.

By focusing on both philanthropy and technology, he was able to break through barriers and gain the respect of many top figures in the legitimate world.

Otherwise, given his situation, he'll have to immigrate sooner or later.

Of course, the risks of doing this are also extremely high.

Knowing that Tengfei New Energy has already invested over 70 billion yuan, he can forget about getting money from the capital market.

While the capital market believes in using large sums of money to pave the way, there are limits to how much money can be used.

He hasn't even built a single car yet, and he's already poured 80 or 90 billion into it. Who can stand that?

No matter how good the relationship is, he won't invest anymore.

The main reason is that the market share of new energy is currently too low, only about 3%.

This is completely unsustainable for a company with an investment of over 100 billion yuan, and it's unknown how many years it will lose money in the future.

It's worth mentioning that the technology sector is also the least restrictive, which many people may not know.

If you continue to develop the technology industry, the country will only provide assistance and will not restrict you at all.

Because the technology industry is a globally competitive field.

The competitive pressure is beyond imagination; its competitors are all external, not internal.

This is also the main reason why Huawei has reached this level, and there are very few negative reviews about it online.

To put it bluntly, the government will intentionally control this area and will not allow malicious attacks from those with ulterior motives.

This is also the main reason why Huawei's Ren Zhengfei's position in the business world remains as stable as Mount Tai.

It's worth mentioning that Liu Xianglian held this position in the 1990s.

As time went on, the Chinese people gradually came to understand.

This is no tech company at all; it's just an assembly plant, a middleman piecing things together.

All the core technologies are from abroad; they sell just one computer.

Ninety percent of the profits go to foreign chip and component developers.

The Chinese people's realization of this was also a major reason why Liu Xianglian rose to fame.

In fact, just by looking at the trend of online public opinion, one can know the country's key development directions.

It is clear that it is now heavily supporting truly high-tech enterprises that integrate industry, academia, and research.

And Tengfei took this path.

The cost is high investment, which is very expensive, and the risks are completely uncontrollable.

The advantage is that there is government support, and once you can gain a foothold on this path, you can have a place in the world.

The pros and cons depend on how you weigh them.

Chen Pingsheng stayed there until 4 p.m. before going back.

Later, a number of people arrived, mostly top figures in Shanghai's business community.

People at their level each have their own sources of information.

People don't deliberately hide things; they all share them.

Unless it involves competition.

Overall, the investment market this year is far worse than it was a few years ago.

Douyin, the only platform to rise rapidly, was missed by Tong Zhelan and Shen Nanpeng.

Even Chen Pingsheng was there when Zhang Yimin first came to Shanghai looking for funding.

Undoubtedly, what followed was a missed opportunity because they couldn't understand what "perfect" meant.

Of course, at that time he didn't have enough money to invest in a new internet company valued at over seven billion US dollars.

Even a venture capital guru like Neil Shen would miss out on this opportunity in the investment industry.

Not to mention others, it's perfectly normal.

When he got home, Liu Fen spent the rest of her time, besides taking care of the little girl, trading stocks and looking for ways to make money.

She did make some money in her first year of stock trading, but in the last two years, just like the general market, she lost money no matter what she bought.

The domestic stock market is just that unreliable; there are very few companies that can consistently rise in value.

Stocks that can maintain long-term stability are considered to be of extremely high quality; over 90% of them are simply ripping off investors.

There are just too many junk stocks.

Some of her relatives had gone to Vietnam to speculate on real estate, and she herself was also tempted to do the same.

Song Yanxi told her not to bother with it.

(End of this chapter)