The Birth of Shanghai's First Conglomerate

In late July, Chen Pingsheng led the senior management team of Tengying Group to the Jinshan Future City Forest Headquarters.

This project, which cost over 60 billion yuan and took two years to build, is finally nearing completion.

With a forest headquarters covering more than 2,000 acres, how could it not have some grandeur?

The main structure here has been completed, including Tengying Apartments and Tengying High-end Oriental Courtyard Community.

"Uncle Chen, according to Mr. Fang's introduction, our entire Tengying Group can relocate in three months at most."

After all these years, Chen Pingsheng has finally achieved something that is the first in the country.

That means it has the largest headquarters in the country, and it deserves that title.

In just three months, all the listed companies under the Tengying Group, including Tengying Entertainment, Snack Run, Deer Horn Coffee, Yateng Short Drama, Boiling Sheep Catering, Bobo Milk Tea, and Tenghui Department Store, will move their headquarters into this future city.

As for Tengyou Media, it will remain in Guangzhou, while Tengfei New Energy will move to Pudong New Area, which is known for its high technology.

They spent billions to build the global research headquarters of Tengfei there.

Jinshan, on the other hand, was his own territory. With the size of the Tencent Group that had moved there, it was undoubtedly the number one private enterprise in the area from the moment it arrived.

The only pity is that he will not be able to move into the Jinshan super villa, which he built around the mountain at a cost of 4 billion yuan, until this time next year.

Chen Pingsheng said, "We can send out the message now. We have three months to prepare. After three months, all of our Tengying Group companies, except for Tengyou Media, Tengde Times, and Tengfei New Energy, will relocate to Jinshan."

"In addition, any employee who has worked for Tengying Group for more than three years can apply to purchase a house in Tengying Oriental Villa at cost price."

Relocating the headquarters sounds easy, but it's anything but.

Because many employees have already settled down and even bought houses locally.

In such a situation, if the group headquarters issues a transfer order, the issue of employee housing security must be taken into consideration.

This is also the main reason why he spent a lot of money to build Tengying Apartments, including Tengying Oriental Villa.

Imagine if moving here would require renting or even buying a new place; given Shanghai's housing prices, this would be a huge burden for many employees.

Tengying Oriental Villa covers an area of ​​over 1,000 acres, and it cost around 14 billion yuan to buy the land at the time.

Another 15 billion yuan was invested to build this super community with a population of 100,000.

As for apartment complexes, there's even less to say; a total of 15000 units have been built, enough to house 20,000 to 30,000 people.

It can be said that he did an excellent job in logistical support, ensuring that employees could move over with their families without any worries.

The headquarters even has a supporting commercial street, making it extremely prosperous.

It's a pity that Chen Pingsheng will not sell the residential communities he built, including the Oriental Courtyard.

It is only available to internal employees.

After eight years, he finally has his own headquarters campus.

That's really not easy.

Chen Pingsheng led his senior management team on a tour of the area, and everyone was extremely excited.

This whole area belongs to my family, how could I not be excited?

To better ensure that employees' families can stay or even visit regularly.

With a wave of his hand, he prepared to buy another piece of land outside the headquarters to build a super five-star Tengying Hotel.

It is not open to the public, but only receives family members of employees who have traveled from afar.

It sounds like it will cost a lot of money, but it's actually only a billion.

Strangely enough, among the Tencent Film Group's projects this year, only Tencent Media has seen explosive growth, and Deer Antler Coffee has also performed reasonably well overseas.

Other businesses seem to have reached a bottleneck; whether it's Boiling Sheep Restaurant, Bobo Milk Tea, Tenghui Department Store, or Guazi Used Cars, they're all doing quite poorly.

The only thing that allowed him to spend recklessly was the skyrocketing stock prices he had bought.

Whether it's Meituan or Pinduoduo, Tesla's stock price has surged this year.

He made a fortune by speculating on these long-term stocks.

By the second half of the year, the issue of cashing out had to be considered, because the funding for the 20 Tengfei New Energy project was still completely unsecured.

He also needs to keep spending money, but he hasn't decided which one to sell yet.

Currently, his most valuable stock is Tesla at 4%.

Based on Tesla's valuation of $1580 billion, he could cash out $63 billion in one go, enough to cover all his funding needs for 2020.

Tesla's stock price is still soaring.

Secondly, there's Meituan, which I own 3% of, and its current market capitalization in Hong Kong is US$890 billion.

Being able to cash out 27 billion US dollars in one go is far from enough.

After the "Golden Finger Grandpa" stock price reached 10 billion before it could start rising, he could only rely on cashing out his shares to obtain large sums of money.

Fortunately, the stocks he bought were all soaring.

There is another way to cash out: sell the headquarters building of Tengchao Supermarket Management.

It's worth noting that he has spent a large portion of his money on purchasing commercial real estate over the years.

This includes the Shuiyunjian storefront, the Tenghui Department Store storefront, and headquarters buildings in various locations.

Including this current forest headquarters, his total investment in commercial real estate has reached 1200 billion.

Including the increases over the years, it's at least 1800 billion.

He believes that housing prices are unlikely to improve in the next few years, and he is even considering selling a few of his headquarters buildings.

He didn't want to think about it too much for now. With his current net worth, getting 40 billion yuan would be too easy for him.

You can take any one of them as collateral for a bank loan.

If it weren't for the fact that all the stocks he held were soaring, he probably wouldn't have hesitated so much.

I almost forgot that his wife also invested 0.15% in Apple and 0.5% in Nvidia.

Apple continues to release new iPhones every year as usual, and everyone says that it has run out of ideas and no longer has the innovation and technology of the Jobs era.

But in reality, the stock price has been rising year by year, and this year it has already broken through the trillion-dollar mark.

The company has grown to $1.1 trillion, and his wife's paltry 0.15% stake is worth $16.5 billion.

That's over 10 billion RMB.

Chen Pingsheng called Song Yanxi and, after much deliberation, decided to cash out his Apple shares first.

It's already $1.1 trillion. No matter how high it goes, can it ever break $3 trillion?
Compared to other stocks I hold, Apple seems to be nearing its ceiling.

He now has to raise the necessary R&D funds for Tengfei New Energy at least a quarter in advance.

I started cashing out at the end of July, which was just the right time.

For the rest, if you can delay cashing out, then delay it as much as possible!

He's not in a hurry at all.

Song Yanxi has been buying up Apple products at rock-bottom prices for four or five years now, investing $500 billion and exiting with $1.1 trillion.

A profit of around 100% is already quite good for large-scale speculators.

Compared to Apple, the other stock she holds is truly outrageous.

Song Yanxi started buying Nvidia shares in late 2014, when the stock price was only around 10 billion US dollars.

This year it has already reached 1400 billion US dollars.

In just four years, the increase reached an astonishing 14 times.

Chen Pingsheng even considered increasing his holdings in Nvidia, as the price increase was simply outrageous.

I just don't know if it can go up any further.

(End of this chapter)