The Birth of Shanghai's First Conglomerate

After Chen Pingsheng finished his phone call with Song Yanxi, he arranged for Tencent Fund on Wall Street to start cashing out.

The company cashed out $16.5 billion. If this were a typical company, such a large cash-out would likely cause its stock price to plummet.

It would be like splashing water on an apple; it wouldn't even make a fuss.

After much deliberation, Chen Pingsheng decided to increase his investment in Nvidia again. If it could also reach a market value of one trillion US dollars, then this investment would be incredibly profitable.

His wife only has 0.5% in total, which is five per thousand.

Chen Pingsheng spent another US$7.5 million to increase his stake by 0.5%, bringing the total to 1%.

He only invests in long-term stocks and doesn't even consider short-term stocks.

In other words, once purchased, it will not be sold for at least three years unless something unexpected happens.

The remaining $800 million will be transferred to Ascendas New Energy's account, and this money is expected to last for two months.

Tengfei New Energy has a very good reputation, but new energy vehicles are not yet widely accepted in China.

They will inevitably experience losses for a long time, and the same applies to Tende Times' batteries.

The undisputed number one battery manufacturer in China, it can thrive whenever the new energy sector takes off.

Solid-state batteries have achieved some results after several years of research and development, but not many. A group of top-notch R&D teams still need to work day and night.

This was anticipated from the very beginning of the investment; there's no need to rush it.

Breakthroughs in any major technology require a long period of hard work.

It cannot be accomplished overnight.

Aside from Tengfei New Energy, Chen Pingsheng doesn't really have many other expenses, as he receives four to five billion yuan in fixed dividends every year.

There's no way you can spend all that money, no matter how much Big Paw and Little Paw mess around.

When you have a lot of money, you really do pursue your ideals.

No matter what, he still wants to build a world-class technology company.

While elevating the overall level of the Tencent Group, it is also necessary to enhance its own status in the domestic business community.

This is also very important.

July passed very quickly. After Chen Pingsheng led his team on a tour of Kingsoft's headquarters...

He cashed out his wife's Apple shares and also added $7.5 million to his Nvidia portfolio.

After acquiring a total of 1% of the shares, they also managed to raise enough R&D funds for Tengfei New Energy for the first two months of 2020.

I haven't touched the other shares I have; I just feel it's not the right time yet.

Whether it's Meituan, Pinduoduo, or Tesla, it's not yet time to cash out.

It's worth mentioning that Tencent, which became one of Tesla's major shareholders like him earlier this year, cashed out all of its 5% stake in Tesla.

Chen Pingsheng, however, planned to wait another two years. Having worked in the new energy industry himself, he knew that the new energy market was still in its infancy.

It's clearly too early to cash out Tesla before we've even seen the door to takeoff.

He planned to stay for a few more years.

Anyway, I have too many liquid assets, so I don't need to touch these high-quality stocks at all.

After much deliberation, Chen Pingsheng decided to cash out the entire headquarters building of Shuiyunjian in Shanghai, including the headquarters building of Tengying Entertainment in Beijing.

One reason for cashing out is that housing prices are no longer stable.

For a shrewd businessman, cashing out at high prices and buying back at low prices is the normal practice.

There's no need to knowingly hold onto money in a bad market.

With the Jinshan Forest headquarters in place, these buildings will not be of much use in the future.

Because they bought the shares relatively early, they can still make 700 to 800 million yuan by cashing them out now. If they wait a few more years, they might not even be able to keep the principal of 1.9 billion yuan for the two headquarters buildings.

Not only that, he's even planning to cash out his Hong Kong headquarters. With a large number of staff concentrated in Guangdong, the Hong Kong headquarters is actually of very limited use; it would be best to rent it out to someone else in the future.

It's naturally better to buy when prices are rising, and it's more cost-effective to rent when prices are falling.

Chen Pingsheng had a clear plan: with the completion of Kingsoft's headquarters, many headquarters buildings in other places would become useless.

Rather than leaving it there to depreciate, it's better to sell it early and make a few billion in cash.

Without hesitation, he began posting information about the sale of three buildings.

Those who can afford to buy his headquarters building must be quite powerful, and they are basically acquaintances or from the same circle.

Especially the Hong Kong headquarters building, which cost him over 10 billion Hong Kong dollars when he bought it.

The asking price is now at least 125 billion.

If you keep the storefronts, you can still earn rent from your own family. But if the market turns bad, the daily drop in value of these buildings can be a significant sum.

It's perfectly normal for him to lose tens of millions a day; there's really no need for him to keep wasting his time like this.

Selling a property is not a simple matter; those who have the means to buy know that the turning point in the real estate market is coming.

They've been raising prices and clearing inventory for years. What could be sold has already been sold, and what can't be sold has to be addressed with other methods.

When Hong Kong's richest man, Li Ka-shing, first started raising prices and clearing inventory, he sold off his stock in large quantities. Although he made less money, he exited the market most smoothly.

Back then, there were plenty of people willing to take over, but now it's different; there are very few willing to do so.

Those who can escape successfully must have some real skills.

Chen Pingsheng wasn't in a hurry; he'd sell if he could, and if not, he could only wait for the price to drop.

In any case, things of this value cannot be sold through intermediaries; they can only be disseminated within the circle of the wealthy.

Soon after, someone at the Hong Kong headquarters inquired about the matter. It was a tycoon he knew who offered 20% of the original price, meaning he would only offer 10 billion instead of the original 125 billion.

This takes into account the potential decline over the next few years.

You're so smart, why should I sell it to you?
Chen Pingsheng refused without hesitation, but said he could negotiate the price, and the room for negotiation was 5% off.

Love or not.

He doesn't lack cash, so why should he give you a 20% discount?

Old Wang, who is short of cash, has been selling his quality assets at 5%, 6%, or even lower prices this year.

Chen Pingsheng definitely doesn't need it. He's rich and has a strong personality. There's no way you can get anything out of him.

Let's list these three headquarters buildings in the wealthy circle first. It would be best if they could be sold out by the end of the year, but if not...

Then it'll really be stuck with us.

Market conditions can change in an instant. Since the beginning of this year, most people, except for a small number of wealthy individuals, have become more conservative.

Even Vanke, the real estate giant, repeatedly shouts "Survive! Survive! Survive!" during meetings.

These three words alone reveal that Vanke is extremely pessimistic about the future of the real estate market.

From now on, let alone expansion, just surviving will be a victory.

Only Xu, after the real estate boom ended, actually shouted out the slogan of investing 300 billion yuan in new energy vehicles.

They also aim to become a world-leading, or even the largest, automaker by 2025.

If he could do it, Chen Pingsheng would never believe it even if he were beaten to death.

This guy is the type who, when he can't finish one story, starts singing a different one.

Unfortunately, even he couldn't remind those who were truly in need of housing to buy off-plan properties.

The real estate industry involves too many things, and no one dares to openly discuss it.

That's not being a hero, that's pure suicide. (End of Chapter)