The Birth of Shanghai's First Conglomerate

Chapter 650 Cashing Out and Walking on Two Legs
Several relatives came from my hometown. Peng Ying picked them up at the train station. These relatives were all from Peng's side of the family.

They are cousins ​​of Peng Ying; one of them is over sixty, and the other is over fifty.

The main reason for this visit was my children.

I finally managed to use all my savings to buy a house in the city, but I haven't received the house yet.

It's not that it's an abandoned project; it's just that the construction site doesn't have the money to start work.

When something like this happens, the normal course of action is to delay it again and again.

I contacted many people and tried every possible solution, but in the end, I still had to repay the bank loan, but I still had no house to live on.

The only way out was to find Peng Ying.

Since they were all relatives he rarely contacted, and Chen Pingsheng hadn't been back for quite some time, he didn't come back.

However, after learning about the matter, it was still decided to let Song Yanxi handle it.

Basically, it involves buying all the unfinished buildings that these relatives had purchased.

This small amount of money was nothing to him, but it was a real problem for his relatives in the countryside.

I have nowhere to cry every day.

To be honest, it's really not easy for ordinary people to buy a house.

Not to mention buying an unfinished building.

His relatives on this side of the family can at least have him to clean up their messes, but for those rural people who have no one to clean up their messes, that's truly a miserable situation.

Chen Pingsheng took out about 30 million yuan to buy the house. Since it wasn't a house in a top-tier city, tens of millions of yuan could help his poor relatives in the countryside get through this crisis.

He did a great service to his relatives, even though he doesn't usually make a point of getting close to them when they are in need.

But if something really happens, he will still do his best to help.

In late October, when Nvidia's stock price reached $6800 billion, Chen Pingsheng could wait no longer.

Let's just take out 1.5% to cash out, at least to get all the principal back.

As for the rest, we'll see how things go.

1.5% of $6800 billion is by no means a small amount.

Instead, it was a massive cash-out of up to 10 billion US dollars, which is roughly equivalent to 70 billion yuan.

Chen Pingsheng would usually raise all the funds needed for Tengfei New Energy a year in advance.

This year, due to three large cash-outs from Tesla, his investments in the technology sector have increased by three levels in one go.

After this cash-out was completed, 30 billion yuan was allocated to Tengfei New Energy.

Adding the 20 billion yuan invested previously, Tengfei New Energy's reserve funds, including those of Tengde Times, reached 50 billion yuan in 2021.

There is absolutely no shortage of funds for the next year.

The other sectors are also not lacking.

The reason he wanted to cash out was because he didn't want to put all his money into Nvidia.

With the remaining 40 billion yuan, plus the 8 billion yuan in cash he already had, Chen Pingsheng held a two-day meeting at headquarters and ultimately decided to invest in Google.

Google's current total market value is around 700 billion US dollars, which is equivalent to 4.8 trillion yuan.

He invested 480 billion, but could only buy back 1%.

With his current capital, he can only invest in these tech giants.

Smaller-cap stocks are easy to get in but hard to get out. A single misstep can crash the stock price.

For Google, there's not much to worry about in terms of cashing out.

Just like before, once you invest, you won't cash out for at least two to three years.

If you can double your money in three years, that would be extremely impressive.

As for those high-quality assets in China, they are far from being in dire straits. Although everyone is facing difficulties, they feel that they can hold on a little longer.

If someone has this kind of mentality, then it's not the best time for them to enter the market.

The best time for him to enter the game is only after these people have completely abandoned all wishful thinking.

It's almost the end of October, and the group is about to begin compiling the third-quarter profit and financial report.

As for their own families, they also need to start tracking their income.

His family's most stable income currently comes from two sources: investments and rental income from Tengchao Commercial Management.

Teng Chao Shang has invested nearly 100 billion yuan, and the investment time was particularly early.

The annual net profit from rent is as high as 3.5 billion yuan.

In addition, Shuiyunjian is also a major source of cash income. Due to well-known reasons, Shuiyunjian's profits this year are at least 30% lower than last year.

The total annual revenue is only estimated at 26 billion.

Putting aside investments, these two sources of income are the most stable among household incomes.

As for Tengying Group, they will not be distributing dividends for the next three years, so there is no room for calculation.

After putting down the family financial statements in his hand, Chen Pingsheng said, "We have to be more frugal. It seems like our family is doing very well, but apart from investments, our stable annual income is only about six billion, which is far from our expectations."

The reason why stock investment income is not included is mainly because that kind of income is considered risk income.

It might be very high this year, but it's completely uncertain next year.

At least he doesn't know whether Nvidia, including its newly invested Google, will rise or fall next year.

Such uncertain assets should certainly not be included in the stable sources of household income.

"That's not low, is it? I think it's already quite impressive that they can maintain a stable annual income of over 6 billion."

"That's true, but I still feel it's a bit too little."

Chen Pingsheng said, "Singapore has invested 20 billion, and it is expected that there will be a stable income of 700 to 800 million next year. Once Tengfei New Energy really takes off, it should see another surge."

Song Yanxi nodded, "My Tongxinjia, which has an investment of over 5 billion yuan, should generate very good profits within two years."

"Let's wait and see. We're far from our family's peak. My mom's relatives probably won't be coming much these days!"

"Much less."

Song Yanxi said, "You took over the unfinished houses from them with pure good intentions. Unfortunately, some people always like to think they are clever and take us for fools. They even took a few broken bowls from their house and said they were antiques, wanting to sell them to us for millions of yuan each, and said that they had gone bankrupt to buy them back."

Chen Pingsheng shook his head and chuckled, "Some people are like that. If you give them a little treat, they'll rush to take advantage of you. They always feel like you helped others but not them, and they feel very unbalanced. You don't need to pay attention to these kinds of people. Next time they come, just have the security guards kick them out."

"This is still not good. After all, we are related by blood. Besides, your mother wouldn't do the same thing."

"If you treat them like relatives, they'll love to take advantage of you."

Chen Pingsheng said, "Don't bother with these kinds of people anymore. As for the house, there's nothing we can do. If an ordinary person gets into this situation, they'll never get over it in their lifetime. If we don't lend a hand, we probably won't be able to close our eyes in peace until the day we die. But other things are different. They're just trying to take advantage of us."

Song Yanxi thought about it and agreed; it's best to ignore this kind of person, as they're uncomfortable to even look at.

(End of this chapter)