The Birth of Shanghai's First Conglomerate

There are at least fifteen relatives from the Chen, Song, and Liu families.

Chen Pingsheng was too busy with his own business to care about them, and simply told them to take the money and prove themselves in the market.

Those with that ability can stay in Shanghai indefinitely.

Those who lack that ability will eventually return to the countryside.

Because you only get a few chances, and once you've lost them all, you can never get them again.

This is the first time someone has threatened to jump off a bridge to force him to buy a Ferrari, like Liu Wei did.

His death sent a chill down everyone's spine.

After all, a Ferrari is a bit too simple for Chen Pingsheng.

His wife's Ferrari, sitting there gathering dust, is probably one of countless others.

Even so, Liu Wei proved one thing with his death.

No one can force him to give up his life; don't overestimate your own life.

Furthermore, do not elevate your relationship with this relative.

He used hundreds of millions to establish a family business fund simply because he didn't want the wealth of the younger generation of the Chen, Song, and Liu families to go too far astray.

He was just giving them a few opportunities to start their own businesses; it wasn't that he valued his kinship with these people so much.

Therefore, Liu Wei didn't even show his face when his parents arrived.

This also serves as a reminder to everyone not to try to use moral blackmail.

Anyone who's reached his position would never fall for this.

If you don't achieve something after using up your opportunities, you won't even have the right to see him again.

And don't even try to trade your life for a Ferrari.

Oh...you can burn two after you die.

This can be considered as doing everything possible to be kind and righteous.

As the saying goes, when you're poor, no one cares even in the bustling city; when you're rich, even distant relatives come to visit.

Having reached this point, even he himself doesn't know why he has so many relatives.

Not to mention dealing with their trivial matters.

On the last day of May, Tengfei New Energy officially launched the off-line testing phase of the P6.

The entire event was a gathering of dignitaries.

There are countless examples in the entertainment industry and the government system.

With a single command from Chen Pingsheng, the six-month, 50,000-mile technical and safety test of the Tengfei P6 officially commenced.

This is also the last round of testing before the company goes public.

To cope with the large investment in the next six months, Chen Pingsheng also gave up his surplus 15% stake in Yateng Short Drama and 3% stake in Xinteng Live.

The company is seeking a buyer by offering a package deal valued at 25 billion.

Among them, Xin Teng Live's market value has reached 50 billion yuan, while Ya Teng Short Drama's is around 18 billion yuan.

After selling these shares, his remaining shares in Yateng Short Drama and Xinteng Live will be the same as those in Boiling Sheep and Snack Run.

Only the last 5% remains.

Short videos are still in a phase of rapid growth, and short dramas are also generating considerable revenue.

He can quickly find suitable buyers by packaging and selling them in this way.

After acquiring 2.5 billion, Chen Pingsheng used the random amplification effect of his cheat code.

I don't know what affected me, but I was unlucky and only got a double.

Even the principal from this cash-out is far from enough to sustain Tengfei New Energy for half a year.

After all, it has a major R&D project there: solid-state batteries.

Helpless, he then offered 10% of Tencent Entertainment's shares, valued at 10 billion yuan, to seek a strategic partner.

Entertainment stocks are just so-so; they're unlikely to exceed 1600 billion in value. He'll definitely choose to retain control of the company while successfully cashing out at a high price.

This is entirely in line with the original logic of the capital market.

All of this is in preparation for the future.

Sell ​​off stocks that are unlikely to rise in the short term and use the money to invest in projects with greater potential for growth.

This is something every entrepreneur must do, and he is no exception.

Tencent Entertainment, hailed as a major player in the entertainment industry, has remained remarkably stable over the years. This sale will leave him with only a 10% controlling stake.

There will definitely be no further changes in the next five years.

The two large-scale cash-outs have also generated considerable repercussions in the capital market.

However, he did not use the money to improve his life, but rather to expand the research and development scale of Tengfei New Energy.

To improve and enhance the R&D team.

Tengfei New Energy has invested a total of 1350 billion yuan to date.

That seems like a lot, considering that Toyota's global net profit in 2017 was 2.49 trillion yen.

It is equivalent to approximately RMB 1448 billion.

In other words, his total investment over the past few years is only equivalent to Toyota's annual net profit.

To truly achieve globalization in the automotive industry, a budget of 10 billion is not even enough to meet the threshold.

Two hundred billion is only enough for contract manufacturing; five hundred billion is just the beginning.

Eight hundred billion is just the entry level.

Only through continuous investment can Tengfei truly grow into a world-leading new energy vehicle company in the next three to five years.

With this 175 billion yuan invested in R&D this year, that's more than enough.

He will need to invest at least 120 billion yuan over the next three years, which means he will need to maintain an annual R&D expenditure of 30 to 40 billion yuan.

This absolutely must not be touched.

Once he decides to do something big, he must be prepared to suffer losses for three, five, or even eight years in a row.

Based on current sales figures for new energy vehicles, his investment simply cannot be sustained.

There's no way around it; the tech industry has to look five or ten years ahead.

If we only look at the immediate future, apart from contract manufacturing, no newly established new energy vehicle company will be able to achieve profitability within five years.

The question is how much loss or how little loss.

In this respect, he believes that Huawei, a domestic company, is truly the most visionary.

Whether it's chips or self-developed systems, they spend five or eight years on it.

Without a result, these things are really just a waste of money.

Once the results came out, it became a killer move that surpassed all its peers.

Chen Pingsheng must safeguard this line; at least for the next three years, Tengfei's R&D investment will certainly not be reduced.

This ratio will only continue to increase.

We'll talk about it again when Tengfei New Energy becomes the number one state-owned enterprise.

That's sometimes how it is in the tech industry; the founder's vision directly determines the future outcome of the company.

His investment of another 175 billion yuan has reassured all his engineers and scientists.

All they need to do is continue to innovate technologically at the R&D center.

Everything else will be handled by Chen Pingsheng.

This is the greatest benefit that he, an amateur boss, can bring to everyone.

The Tengfei P6 has officially entered the testing phase, and relevant data is being continuously collected.

This will undoubtedly be a bombshell for the domestic new energy vehicle market.

After all, he truly spent three years honing his skills.

From a purely profit-making perspective, Chen Pingsheng is certain that investing over 100 billion yuan in any other industry would be no worse than manufacturing new energy vehicles.

It's obvious that he needs to invest at least hundreds of billions more in this industry before he can see any hope of making a profit in the future.

This process will take no less than three years.

Adding the existing time invested, that's a full six years.

This is already the longest wait for Tencent Pictures Group.

The next six months are still a time to refine the technology.

The real results will be known in six months.

(End of this chapter)