The Birth of Shanghai's First Conglomerate

December arrived as scheduled.

After Chen Pingsheng moved the group's headquarters, it was a magnificent sight. Overall, Tengying Group became one of the top tier of private enterprises in China.

It was grouped together with Alibaba, Tencent, JD.com, and others.

We don’t know what the future holds, but for now, it’s definitely pretty good.

Tengying Group's weakness lies in the fact that it has not yet produced a main enterprise with a value of hundreds of billions of US dollars, which is also the main reason why Chen Pingsheng wants to focus his efforts on Tengying New Energy.

While he was overseeing a series of tasks here, staff in Han City reported a different situation.

The general idea is that there might be an infectious disease outbreak over there.

It is highly contagious. Although there is not much news outside, Tengying Group, which has physical stores all over the ground, received the news in advance.

However, the news was intercepted before it even reached the president's office.

This wasn't intentional on the part of the subordinates; they simply thought this kind of news wasn't a big deal and didn't require the president's office to handle it personally.

Chen Pingsheng accumulated a lot of luck points during this housing allocation, and when he distributed these points to his family members, he clearly felt much better.

Perhaps the biggest advantage of this thing is that it can help you avoid disasters and live a peaceful life.

Of course, it can also prevent disease.

This is also one of the reasons why Chen Pingsheng likes the luck value.

Time passed quickly, and it was already mid-December when three documents were issued from Wuhan in succession, informing that the disease was highly contagious.

It's safe to say that once there's even the slightest contact, it's practically unavoidable.

The first two times, these documents were all intercepted at the administrative office. The third time, however, this document was sent by the highest-ranking official in Han City, who was also represented by countless local store managers.

It was finally delivered to Chen Pingsheng's desk.

The first few words of the document boldly proclaimed: "Unprecedented in history, impossible to defend against."

The severity and transmissibility of this outbreak are unprecedented in history.

If you get even a little close to it in a crowd, this thing will immediately hit you.

It's terrifying that it can even spread through the air.

Chen Pingsheng only glanced at it a few times before his brows furrowed involuntarily.

After making three phone calls from the president's office to inquire, he immediately convened a meeting at the group headquarters.

Regardless of the circumstances, the most important thing is to immediately evacuate all store staff from Han City.

Han City is the provincial capital.

If you ask how many employees Tengying Group has in the provincial capital, there are more than 20 Fei Yang Yang stores there alone, with more than 1,000 employees.

If we add other chain stores like Bobo Milk Tea, Deer Antler Coffee, and Snack Run, etc.

It will be at least no less than 15,000 people.

Chen Pingsheng didn't care at all how much loss the closure of a store in a provincial capital would cause to the entire group.

Regardless of the circumstances, people should be the priority, and economic losses should be secondary.

Such a large-scale closure has left many in the industry bewildered.

Those who stayed there actually knew some of the situation, while those who were well-informed outside were still observing.

Very few companies are as direct as Tengying Group, which directly announced the closure of all its stores in the city.

Not only did they close the stores, but they also transferred all the businesses in that area out.

The group naturally knew what had happened; Chen Pingsheng had already stated it directly in a high-level meeting.

The documents have been shown to everyone. It's safe to say that if these documents had arrived in his hands any later, no one knows what the consequences would have been.

But now, he has transferred all the film crew members of Yicheng Tengying away.

We haven't been notified yet where these people are going.

First, everyone went home to wait for news, and their salaries were paid as usual.

Chen Pingsheng not only closed the store, but also instructed the Economic Research Institute to make a judgment based on the information sent back from there.

There is still too little information to predict whether this wave of the epidemic will affect cities outside of Wuhan.

Over 90% of experts at the Economic Research Institute believe that, at most, it will be similar to the SARS outbreak in 2004. At most, it will affect Wuhan, but will have no impact on other areas.

Although there was nothing wrong with this prediction, Chen Pingsheng still frowned and thought about it for a long time.

He took out his 3% stake in Meituan and prepared to cash out the entire amount.

I originally planned to stay for another year or two, but Meituan's current market value has reached 1200 billion US dollars.

That's equivalent to 800 billion Hong Kong dollars in RMB.

Even though it is the highest intermediary in the domestic catering industry, its market value is not low.

It's unlikely that prices will rise much higher in the next few years.

In times of crisis, stockpiling food is always the right choice.

This single cash-out will net him $36 billion.

Converted to RMB, that's about 25 billion. Tengfei New Energy has already raised all the development funds for 2020.

He used this money to prevent a larger outbreak of the disease.

Of course, he didn't think he needed more than 20 billion, and he still planned to use the extra 5 billion to invest in Nvidia.

This stock has truly become a speculative stock, rising and rising, as if it really has a chance to break through the trillion-dollar mark.

Before he invested another fifty, the percentage had only increased from 1.4% to 1.7%.

Five billion is only enough to buy back 0.3%.

Meituan's stock price is soaring, and with this increase and decrease, even he himself doesn't know whether he's made a profit or a loss.

Anyway, he wants to keep hundreds of billions of dollars in cash in reserve.

Only then can one feel a sufficient sense of completeness.

Of the major stocks he invested in, besides Meituan, the other two that performed well were Pinduoduo and Douyin.

Pinduoduo has 5%, and Douyin has 3.5%.

Pinduoduo has also been a speculative stock this year, with its price soaring uncontrollably.

With a market value of $1500 billion, Chen Pingsheng also decided to cash out 2%.

Another three billion US dollars were reserved.

He likes to plan for the worst, in case this wave of the disease cannot be eradicated in Wuhan, or even spreads for several years.

With over 40 billion in his hands, he can remain calm and composed.

When it really comes down to it, cash flow is king.

After cashing out another 20 billion, Chen Pingsheng stopped touching the valuable stocks he held. He refused to believe that he had 40 billion in cash on hand.

What insurmountable obstacle can't be overcome?

He kept the money in secret, telling no one except his wife.

To prevent others from asking him for money.

News from Seoul has reached many well-informed companies across the country.

Their analysis of the situation there was almost identical to that of their own Economic Research Institute.

They thought it would pass quickly.

No one knows for sure how long it will take, not even Chen Pingsheng himself, let alone others.

He even cancelled his original plan to go back to the southern province for the Chinese New Year.

Cats in Shanghai are more reliable, or more accurately, Cats in Kingsoft.

After accumulating a huge cash flow reserve, he was no longer worried.

The money he had was enough to cover the salaries of his physical stores that had been closed for several years.

This eliminates any high risk.

(End of this chapter)