The Birth of Shanghai's First Conglomerate

Chapter 660 Another Spring
To cultivate a person's self-confidence, you certainly can't just teach her how to spend money.

The most important thing is to keep her by my side and let her get familiar with the operation of the entire company.

Chen Pingsheng and Tang Jing arranged for Xiao Le to become an intern in the group's secretariat.

Putting aside the salary, the most important thing is to understand the core operating methods of a large group.

You can also observe all sorts of complex interpersonal relationships from this.

Take, for example, the political and business connections within the Tencent Group, which are simply invisible at the grassroots level or in general management.

However, the secretariat was able to discover that Tencent's major investments were often in line with national strategic goals.

For example, there has been a lot of investment in new energy, AI, and solid-state batteries.

These are all future industries that the authorities advocate and even hope that leading enterprises will develop.

Investing money in this area carries extremely high risks, but the corresponding political resources gained are unmatched by ordinary internet companies or even traditional companies.

It can be said that the most glamorous aspect of Tengying Group is its traditional stores that are located in major cities across the country.

If you walk on any of the slightly busier streets in a city or county.

There will definitely be traditional stores of Tengying Group, and more than one or two.

These are just the most direct impressions outsiders have of Tencent Group.

This includes Tencent Entertainment, which controls half of the entertainment industry, and Tencent Media, which has hundreds of thousands of internet celebrities.

These are all just the external appearances of the company.

What truly makes Tengying Group powerful is its years of investment in the entire new energy industry chain, as well as the Zhengzhi resources acquired through heavy investment in the AI ​​sector.

Tencent Group is undoubtedly the uncrowned king of Kingsoft, and that's no joke.

Only by joining the secretariat can one truly understand the core of the Tengying Group.

Apart from short videos, the traditional business segments are mostly businesses that don't generate much profit for the group.

The group's overseas investment fund, Tengye Capital, controls over US$40 billion in cash assets.

Tengchao Commercial Management owns core commercial real estate worth over 1200 billion yuan.

Tengfei Capital wholly owns Tengfei New Energy, Tengchao Times, and Tengfei AI.

They all have net assets of at least 300 billion.

These are the true core assets that Tengying Group has hidden.

It has never been made public.

The secretariat's work is very complex; its main responsibility is to help Chen Pingsheng organize all sorts of information.

And handling some of the group's daily affairs, interpersonal reception, etc.

Xiao Le went from being completely clueless at the beginning to gradually adapting, and later he was able to receive all sorts of important people with a natural attitude.

It took a full eight months to complete this process.

Her older sister, Xiao Ya, did the same thing, spending all her free time here interning.

It must be said that such an opportunity is not something that ordinary people can have.

……

Time flies, spring comes and autumn goes, and eight months have passed in the blink of an eye.

2020 was a difficult year due to the impact of the illness, and another summer vacation came around.

Chen An'an finished junior high school, Er Pi Ya will soon be in fourth grade, and even the youngest in the family, Chen Lu, will be in first grade.

For these adults, time is simply about watching their children grow up day by day, and then making money, making money, and making more money.

June 2021.

A year and a half has passed since the onset of the illness, and the day when it will completely end is still far from being predicted.

Tengying Group also had a difficult year in 2020.

Boiling Sheep suffered a net loss of 6.2 million yuan for the whole year.

Bobo Milk Tea's market value dropped to 12 billion yuan, and its annual net profit was less than 30 million yuan.

Deer Antler Coffee is doing alright; its profits haven't been affected too much.

Snack Run, Teng Hui Department Store, and Shui Yun Jian all saw a 30% decrease in net revenue compared to 2019.

Traditional catering businesses are closing down one after another.

The environment for small businesses to survive is extremely difficult.

It's already quite good that most companies are able to pay salaries normally.

Most of them either lay off employees or go bankrupt.

Consumption has been declining again and again, and the market is visibly getting worse year by year.

Of course, this is not the case for all industries.

New energy vehicles have developed rapidly, rising from a market share of less than 3% to around 30% now.

This means that for every 10 cars sold, three are new energy vehicles.

Lei Jun, CEO of Xiaomi, staked his entire career on his last venture: building cars.

Huawei doesn't manufacture cars, but it helps car companies build cars, becoming an industry-leading intelligent supplier.

This industry is becoming increasingly dynamic.

Meanwhile, Chen Pingsheng remained calm and composed.

Tang Jing came to report that the new super factory in North America, with an investment of 20 billion, will be officially completed in less than a year.

The national-level artificial intelligence industrial park, with an investment of 280 billion yuan in Jinshan, is expected to be fully completed in another two months.

These are all major investments he made in 2020, and they are also part of the group's core industrial chain.

Compared to investments in the technology sector, the losses in traditional sectors are insignificant.

Tang Jing brought Xiao Le over to report: "Boss, after the artificial intelligence industrial park is completed, we will recruit 1 to 3 professional talents in China. This is a future data report from the finance department."

Chen Pingsheng took a quick look and estimated that the construction of this industrial park had generated approximately 150 billion yuan.

The land was free, and the remaining 100 billion yuan was all for the future operating costs of the industrial park.

According to the financial statements, at least 100 billion to 150 billion yuan must be invested each year.

That's how the tech industry works: you throw money around like crazy in the early stages, and only after many technologies mature can you make a profit at a high price.

It is clear that although Tencent has invested in the AI ​​sector for more than five years, it is still far from reaching the level of international advanced technology.

After spending a total of 80 billion, we're still barely at the second-tier level globally.

It's still far from the top-tier AI technology level of Google and Nvidia.

This is actually quite normal; otherwise, why would others have a market capitalization of trillions of US dollars?

As early as last November, he had already raised the more than 40 billion yuan needed for Tengfei New Energy's development this year.

Now, all that's left is to raise money for 2022.

Not only does Tengfei New Energy need money, but the AI ​​Industrial Park also needs it.

He is now focusing on developing AI as a core project.

Since it was separated from Tengfei New Energy, the battery business has also become independent.

It has been divided into three major sectors: car manufacturing, batteries, and AI, all of which will be listed independently in the future.

More than half a year has passed, and he is still not short of money. He turns on his computer to take a look.

Google, which invested nearly $50 billion last year, saw its stock price rise to $1.2 trillion.

It rose from $700 billion to $1.2 trillion.

His 1% stake netted him around US$50 billion, which is equivalent to RMB 340 billion.

This can be considered a typical example of a shrewd investor.

As for the 3.5% stake in Nvidia that I still hold, the stock price has risen to $800 billion.

The only pity is that Tesla cashed out too early. It cashed out at around $500 billion, but this year it has risen to $800 billion.

If he cashes out this year, he could earn an additional $300 billion.

That's how the stock market is; it goes up and down, and nobody knows what tomorrow will bring.

Even more regrettable is Tencent, which also invested 5% in Tesla. Tencent sold its stake in 2019, which is considered a very low price compared to now.

It's not even one-fifth of the current high level.

Compared to others, he's actually doing quite well; there's nothing to regret about this thing.

But now he needs money again, and he can't decide whether to cash out from Nvidia or Google for the time being.

Looking at the price increases over the past few months, Nvidia's increase has been significantly smaller.

Google, on the other hand, is very stable.

After much deliberation, he decided to cash out 1% of Nvidia shares first.

A one-time cash-out of 1% would yield approximately $80 billion, which would completely cover Takefly New Energy's R&D funding needs for 2022.

After all, if converted to RMB, this is roughly 50 billion yuan.

After this cash-out, he will only have 2.5% of Nvidia left.

Of course, there are also a lot of benefits. Allocating 50 billion yuan in R&D funding every year can propel Tengfei New Energy's core technologies forward by a significant margin.

This includes electric drive technology, hybrid technology, range extender technology, and solid-state batteries.

In at most two more years, Tengfei New Energy will be able to turn a profit completely.

By then, he won't need to invest any more money.

With the shares he holds, he can easily hold on for another two years.

Only 1% needs to be cashed out each year. Once the money problem is solved, everyone can focus on development with peace of mind.

As for other aspects, those are not the key points.

"Boss, Tencent Media's market value is about to break through 300 billion."

"This is quite unexpected, even I didn't expect it."

Chen Pingsheng now holds only 10% of Tengyou shares, which translates to 30 billion yuan in assets.

He cashed out most of his Tengyou shares when they were in the 800 billion range.

They had already made a fortune back then, but they never expected that the short video business would experience such explosive growth in the last two years.

Tengyou Guild alone has 36 contracted streamers.

Compared to last year, this year's growth is almost half.

Most of the signed live streamers earn money through live stream tips, while a small portion earn money through product sales.

These people don't need any training from them, nor do they need any extra salary from them.

Signing just one is pure profit.

Over time, they ended up signing contracts worth hundreds of thousands.

There are countless internet celebrities.

A year later, the gains of Tencent Media alone could offset the losses of all traditional sectors.

Tang Jing chuckled and said, "I've been buying shares of Tengyou Media, and I've made over nine million in the past two years."

"sharp."

Chen Pingsheng said, "Once Tengyou Media reaches a market value of 300 billion, Zhang Wanyi will also be able to get her 1.5% stock options. She has become the queen of working women in China, even more powerful than Chu Qiuyan. You have to work harder too."

"As for me... I definitely need to work harder."

Tang Jing is quite satisfied with herself now. If she had the opportunity to go out and take over a large company like the Tengying Group, she would certainly be willing. Even if she didn't have the opportunity, she would still be happy to be the boss's secretary.

However, she paused and then said, "Xiao Ya has already passed the civil service exam and will probably be transferred to the Jinshan Municipal Government Office as an intern in a few days. Shouldn't we make arrangements for her as well?"

"It's time to make arrangements. After she arrives later, I'll invite District Chief Jin to dinner and discuss the investment in the second phase of the Tengying high-end community."

Tang Jing was speechless. "This is an investment of up to 20 billion! She's given such a huge project as soon as she arrives. She's bound to rise to great heights in the future."

"She's quite hardworking, and she interned with you in the secretarial team for several years, so she should have the ability to handle it."

Xiao Ya started training him from his freshman year of college. Her younger sister, Xiao Le, also started learning how to spend money from him last year and was then transferred to the secretariat office at the group headquarters for an internship.

It's been almost a year now.

It's not easy to truly cultivate a person; it requires not only money but also countless hours of effort.

Xiao Ya's internship at Kingsoft was a great start, thanks to the Tencent Film Phase II project with an investment of over 20 billion yuan.

Once she has settled down there, she will start looking for a marriage partner.

Every step must be done exactly according to plan, without the slightest mistake.

Fortunately, both of my older sister's daughters are indeed obedient and very worthy of being nurtured.

Unlike Hu Lin, who is single-minded.

Only his younger sister Chen Qi particularly liked him. Of course, Hu Lin is a good brother-in-law.

He took very good care of his younger sister and her children.

Just as Xiao Ya was starting to get into the swing of things, Xiao Le finished his freshman year and would be a sophomore this September.

It will take another two years to truly cultivate them.

This is completely using the resources of the Tencent Group to push them forward at breakneck speed.

Hopefully, the future will not disappoint.

Tang Jing was quite envious; what kind of uncle raises his niece like this?

This is simply the first of its kind in the world.

The main reason for this is that Chen Pingsheng will not allow Chen An'an or Erpiya to enter that circle.

They are both her daughters, and they have the right to choose the lifestyle they prefer.

The two in my eldest sister's family are different; he arranges everything for them.

Many people will reject it, but that's because they've never experienced the harsh realities of society.

If such an opportunity were given to an ordinary person, it would be like their ancestral graves exploding with good fortune, and their home emitting auspicious smoke.

After arranging some matters for the group, Chen Pingsheng asked Xiao Le, "She's a young woman of twenty now."

"Le'er, you will still have to do your internship here during the summer vacation, but you can have two days off on Saturday and Sunday."

"Uncle, I know."

"Hmm...aren't you going to organize some freshman reunion? Go ahead, your uncle will give you a day off."

"Okay, thank you, Uncle."

Xiao Le left happily; she was no longer the naive young girl from last year who liked to show off her Aston Martin.

Throughout that year, she received countless important figures.

Not to mention those in the business world, there aren't many who can match her uncle's status.

The political arena is different; it's common for all sorts of important figures to bring delegations to visit.

Over time, you'll gradually become more confident.

It's not just superficial confidence, but a confidence that radiates from within.

It's also called the relaxed state of mind of the wealthy, the ability to take things in stride.

I'm no longer the kind of person who would run to my parents at the slightest problem, or who would be easily extorted by others.

She knew perfectly well that no one could blackmail her uncle, but the main reason he wouldn't deal with it was...

Such trivial matters are completely out of character for his business status.

If he were to ask the group's legal department to file a lawsuit against someone for extortion, especially in a place like Kingsoft.

This can easily create a stereotype of the strong bullying the weak.

This is like an elephant never even glancing at a passing ant.

Last year she bought a Rolls-Royce Cullinan, and this year she bought a red Ferrari 812.

If a woman has money, she will definitely want to own a Ferrari in her lifetime.

This is a car you can't avoid unless you're broke.

Xiao Le happily went to attend her classmate reunion.

(End of this chapter)