The Birth of Shanghai's First Conglomerate

In terms of entrepreneurial potential, Changfu's is much greater than Gaohu's.

He doesn't have a fixed job, nor does he need to stick to a single industry.

This is fundamentally different from Gao Hu, who works as a chef.

However, Chen Pingsheng had also heard about Gao Fu's situation.

His Friends series has become a huge hit, and now he's planning to open two more super branches.

Unlike Boiling Sheep, Old Friends' investment in a single store is over 30 million, making it a distinctive large store.

Chang Fu wanted to open a traditional Chinese medicine physiotherapy clinic, and Chen Pingsheng was quite supportive.

However, he's not in a hurry to start a business right now, and he only has a superficial understanding of this area himself.

We need to visit other places for several more months before we can make a formal decision.

However, his wife, Song Yanxi, is now facing some troubles. The grand night event at Shuiyun Pavilion has been held for many years, and this year's event was still very successful.

However, the two-year term at Shuiyun Academy is coming to an end. The veteran employees here are very content with their positions and few want to leave, while a large number of new employees are coming in from the other side.

The staff is overloaded, and she is the only one in the entire industry who is troubled by this.

After so many years of expansion, Shuiyunjian has already opened stores in major first-tier cities.

There's not much point in going to those second-tier cities with lower spending power.

It does not conform to the overall positioning of Shuiyunjian.

He and his wife rarely talk about this anymore, mainly because Shuiyunjian is already very stable, and there's no need to discuss it anymore.

The Chinese fast food restaurant that Song Jun and Zhang Sitong are running now is actually quite good.

After Song Shuiqing married into the Tang family, her short video agency did quite well.

However, her husband's family's real estate has encountered some major problems. Some time ago, she even hoped to borrow 800 million yuan in cash from him, with an annual interest rate of 10%.

After being rejected, Chen Pingsheng's advice was to quickly reduce inventory and recover cash, no matter what.

Keeping those unsold houses in hand is tantamount to suicide.

This is completely different from his Kingsoft headquarters.

Although the Tang family has managed its real estate business relatively steadily over the years, its debt ratio is not too high.

But if housing prices continue to decline, these real estate developers will have to tighten their belts and make ends meet. Whether they can survive this crisis depends entirely on how strong their foundation is.

To illustrate the impact of this industry downturn, many of Shuiyunjian's major clients have begun to reduce their spending.

In addition, countless middle-aged women have already used all the money they would have invested in real estate to speculate on gold.

This is betting on an international war in the near future.

Once war breaks out, gold becomes hard currency, more valuable than anything else.

Prices will continue to rise sharply from their current levels.

Hoarding gold is much more reliable than hoarding antiques; the current antique market can only be described as complicated.

A further sharp drop may occur in the future.

These two points alone reveal how most wealthy people assess the future and what the situation is like.

Time flies, and before we knew it, it was mid-November.

At least half of Tencent's operations have moved to Kingsoft's headquarters, where they are rapidly consolidating their presence.

In another two weeks, even he himself will be moving there.

Chen Pingsheng didn't have too many thoughts on it. During this period, Liu Yifei and Zhao Liying had both come to see him.

He hasn't chatted with his top female stars for a long time. Apart from Zhao Liying, who doesn't seem to evoke much desire in him, there are quite a few Liu Yifei and Yang Mi.

A woman who can become a big star must be able to withstand the camera's scrutiny, and her looks must be top-notch.

Especially considering that they've been popular for so many years.

Yang Mi's ambition in her career isn't as strong as it used to be. In a few more years, their Tencent Entertainment stock options will officially expire. At that time, as long as Tencent Entertainment still has its current stock price, they could cash out billions just from those shares.

This is their contribution to Tencent Entertainment over the past ten years, and it's something he himself had promised long ago.

The entertainment industry is being impacted by short videos and short dramas, and things are getting increasingly difficult.

These things may not affect top-tier actresses, but they have a significant impact on lower-tier celebrities, including those without much talent.

Of the several high-profile dramas invested in by BAT platforms this year, only one BL (Boys' Love) novel became popular; the rest have all sunk to the bottom.

It's fair to say that BL (Boys' Love) novels are a kind of online poison, as they are usually adapted from particularly famous online novels.

The original novel is about men and men, mainly to attract some brainless female fans to read it.

When he learned that this product was very popular, he reported it immediately.

Making mindless idol romance dramas is no longer enough; now they want to make male-male dramas too?

He would be disgusted if he saw two men walking hand in hand on the street.

The key is that this thing is incredibly popular, isn't that outrageous?
This is typical trash literature.

He's considered a champion of justice in the entertainment industry; he felt compelled to report such situations immediately.

Even if others knew that he was the one who reported him, no one dared to vent their anger on him.

He's very different from that guy Hu Lin; his reporting is about improving the entire industry.

Hu Lin's report was like a rotten apple spoiling the whole bunch.

Over the years, Zhao Liying is probably the only one who can still maintain the best dedication to her career.

She truly loves acting and considers it her lifelong dream.

Many others are simply doing it to make money, which is fundamentally different.

Chen Pingsheng hardly cares about anything in the entertainment industry anymore, and when Bai Xin comes to him to report on the situation, he knows very little about it.

I just don't have the time or inclination to deal with it anymore; things have settled down a long time ago.

Barring any major unforeseen events, the stock price should remain stable at least above 80 billion, which is quite impressive.

Don't be fooled by the glamorous appearances of celebrities; the entertainment industry is really only this big.

It's simply impossible for it to grow to several hundred billion.

In 2018, the total domestic box office was 609 billion yuan, of which Tencent Pictures accounted for a small portion.

It has reached 24 billion, which is already a behemoth.

Excluding filming costs, the net profit is less than 3 billion.

Many of them are losing money.

If a company of this size could become worth hundreds of billions, it would have to desperately learn from Bitcoin; the big players are just trading with their left hand and their right.

Chen Pingsheng would certainly not do that; he only owns 10% of Tencent Entertainment's shares.

There aren't many left.

Chen Pingsheng didn't drive home until the afternoon; he no longer drives a Rolls-Royce.

The logo is increasingly resembling a trendy car, and it's fair to say that it's been ruined by internet celebrities.

Of course, Rolls-Royce's main sales are now concentrated on online influencers.

This group buys the most Rolls-Royces.

Many people also like to use Rolls-Royce as a script to create a persona and try every means to become famous.

Such behavior is acceptable if it's normal, but some people clearly lack respect and dare to play the role of a con artist while trying to portray themselves as a kind and noble lady.

They really don't take Uncle Hat seriously; this is a classic case of fraud.

(End of this chapter)