The Birth of Shanghai's First Conglomerate

Chapter 693 An'an Must Catch Up

His eldest daughter is preparing for the college entrance examination every day, so as her father, he has to prepare gifts for her.

Of course, we should cheer them on and encourage them.

Top floor of Tengying Group.

Tang Jing, the secretary, had lost all her former ambition.

She didn't even think about becoming the branch president; staying here as a head housekeeper was perfectly fine.

The main reason is that she has been following Chen Pingsheng all these years, and of course she will also learn to trade stocks like him.

When Nvidia's market value reaches three trillion US dollars, she can actually retire and live a comfortable life.

When Nvidia was in a slump, and Chen Pingsheng invested 120 billion yuan to increase his holdings, she also bought 20 million yuan worth of shares.

It's definitely worth 200 million now; that's the hidden benefit of being a big boss's secretary.

Chen Pingsheng asked her, "Tang Jing, was it particularly difficult for you to get into high school?"

"No, I found it very easy!"

Tang Jing blinked her big, bright eyes and blurted out her thoughts before realizing something was wrong.

"Boss, my senior year of high school was so tough! I couldn't sleep or eat properly every day..."

"Come on, you're just not cut out for lying."

After searching on his computer for things parents should do before the college entrance exam, Chen Pingsheng turned to her and asked:
“My daughter An’an has been working really hard lately, and I, as her father, don’t know how to encourage her. I was planning to ask you, but it turns out you don’t know anything about it either.”

Am I supposed to be clueless? It's obvious that I'm just naturally gifted and easily overcome all obstacles. Tang Jing wouldn't dare say that now, lest he be complaining that he's having too easy a time as the chief secretary.
"Boss, An'an wasn't particularly gifted in academics when she was little. The fact that she has achieved these results is already quite remarkable. The people around me are all exceptionally talented in academics, and they all seemed to have it easy when they took the college entrance exam."

"Talent is a complicated thing."

Chen Pingsheng shook his head and said, "Look at my second daughter. She's the least hardworking student in the family. She can't finish her homework unless she's at the last minute, but her grades are the best."

"Her older sister is different. She's better than anyone else at things like praying mantis boxing, playing the erhu, and drawing talismans, but she's not very good at studying."

Tang Jing also knew about academic talent. "That's right. Anyone who can get into a 211 university, except for those who work particularly hard, usually has some kind of academic talent. These people tend to learn very quickly and achieve twice the result with half the effort."

After realizing he had asked the wrong person, Chen Pingsheng was not discouraged and sought out some top students in the secretariat.

After discovering that they were all exceptionally talented, he realized that studying was not something that could be done well solely through one's own efforts.

For example, when he was in school, his memory wasn't very good.

It takes a long time to fully memorize any single knowledge point, and it will be completely forgotten in a short time.

This is a classic example of someone who has no talent for studying.

If you don't love what you're doing and you also lack talent, you can basically declare failure.

This is truly a complicated matter.

The top students recruited by the group clearly didn't just get in by working hard.

Those who can get a job in his top-level CEO office must be true geniuses who changed their fate through education.

You'll only know if your future is good or bad once you start working. Annual salary is one thing, but more important is investment and financial management.

No matter how much money you have, you can easily squander it if you don't know how to manage it.

Even with a low annual salary, those who know how to manage their finances can improve their lives through consistent, gradual financial management.

His approach to financial management is basically learning how to trade stocks from him.

Over the years, they can more or less increase their own assets seven or eight times.

Like Tang Jing, a secretary who has worked for many years, his salary is still less than what he earns from investing with him.

He also found many posts online from parents of high school seniors, some of whom accompanied their children to take the exams during their senior year, and others who hired psychologists for regular counseling.

Some parents went even further, spending all their savings in one year to hire tutors to help their children pass the college entrance examination, a crucial step in their academic journey.

Tengying Group hasn't recruited from ordinary universities for at least three years. Almost all the talent they recruit is professionals in fields related to mobile phones, AI, new energy vehicles, and solid-state batteries.

We should recruit through global channels.

This also reflects the increasingly difficult job market.

People working in state-owned enterprises have incredibly high job stability.

No one would leave here easily unless they were acting impulsively.

In recent years, the market environment for private enterprises has been such that large enterprises have rarely ventured into new markets.

Naturally, there's no need to hire a large number of people.

This has led to increasing difficulty for college graduates to find employment, and the current solution is to divert students into different educational streams.

To encourage more people to learn a skill.

Chefs, hairdressers, and auto mechanics are the three most common professions in poor families.

It was a helpless and desperate choice; if only my family had the means, I wouldn't have learned these things.

When Chen Pingsheng returned home, he discussed with Song Yanxi whether the couple should also arrange for one of them to accompany him during the exam.

Although it seems completely unnecessary for their family, the necessary procedures still need to be followed. The most important thing is that he hopes An'an will have what other children have.

Song Yanxi has been worried about Chen Lu's overly honest nature lately, which has left him with little time to accompany An An during her college entrance exams.

Chen Pingsheng decided to go himself, since the group was not short of money at all and had already allocated all the necessary R&D funds.

Many companies want to conduct their own research and development, but they often hesitate when faced with large R&D funding, which makes it very easy for them to give up halfway.

This is a phenomenon that would never exist in the Tengying Group; there's no way around it, their funds are indeed too abundant.

Tengfei New Energy is already generating profits, and so is Tengde Times. Its mobile phone business has earned over 160 billion yuan, and it has also set aside 50 billion yuan as follow-up R&D funds.

The only loss-making company was Tengfei AI.

There's hardly any competition in this industry; there are only a handful of companies worldwide that can do it well.

Tengfei AI is investing 40 billion yuan annually in research and development, with over 100,000 top mathematicians, physicists, and R&D engineers working together to advance the field.

AI projects of all sizes will continue to be developed.

However, it's unlikely that Tengfei AI will be able to go public in less than four or five years.

Currently, Tengde Times has a market value of over 350 billion yuan, while Tengfei New Energy has reached 480 billion yuan.

He personally owns 20% and 21% of the shares in these two stocks, respectively.

On September 8th, he secretly cashed out 0.5% of his Nvidia shares.

They received a total of US$160 billion.

Through Tengying Capital in Hong Kong, all of this money was used to purchase shares of Tengye Times and Tengye New Energy in the secondary market.

His single-handed investment of 1100 billion yuan to buy up shares in the market will naturally cause the stock prices of Tengfei Auto and Tengde Times to rise rapidly.

Rather than believing that Nvidia can reach a market value of six trillion US dollars in the future, he is more confident that his own Tengde era, including Tengfei New Energy, can reach a market value of one trillion dollars.

All the maneuvering and maneuvering is simply a means to achieve faster asset multiplication.

This time, each party will reclaim 12% of the shares, which are shares that can be cashed out at any time.

In mid-September, Tengfei Auto launched its flagship model, the Longteng S700 pure electric vehicle.

Priced between 32 and 50 yuan, it is equipped with Tengde's groundbreaking sixth-generation solid-state battery.

The cost of a complete set of these batteries is between 12 and 20 yuan.

With an impressive range of 3,000 kilometers, it can easily meet any long-distance travel needs.

Most importantly, a 10-minute charge provides a range of 800 kilometers.

Furthermore, when paired with Tengfei's latest AI intelligent assisted driving system, it completely realizes the driver's driving freedom.

After eight years of development, five years of statistics, and two years of testing, it has been found that Tengfei AI intelligent driving technology is already much safer than car owners driving themselves.

The accident rate is also much lower.

Even so, neither Tengfei AI nor Tengfei New Energy Vehicles dare to claim zero accidents.

If something happens to this kind of thing, it's a disaster. Life is more important than anything else. If they dare to promote it like this, even if only one car is involved in an accident, it will be the car company's full responsibility.

Whether it's the intelligent driving technology, the Tengxin sixth-generation solid-state battery, or the chassis tuning technology of the current Longteng S700, it's no exaggeration to say that it is absolutely the best choice for vehicles under one million yuan.

There isn't even one of them.

This is a flagship product developed with a research and development budget of up to 300 billion yuan, taking a full eight years, and involving more than 150,000 top engineers.

It is also the pinnacle of Tencent Pictures' work in 2024, and there was not much publicity before the press conference.

There's not much need for publicity after the press conference.

Tengfei New Energy Vehicles now truly has a flagship model that can stand firm in the global market.

Chen Pingsheng had been looking forward to this day for eight years, and it was also a masterpiece that brought together the efforts of the entire group.

God knows how difficult it was for him to support Tende Times' independent research and development of solid-state batteries for six years.

There was no return at that time, and we couldn't even see any return.

In addition, he has spent countless funds to develop Tengfei AI, including the overall technology of new energy vehicles, to its current state.

The Longteng S series is his flagship model for expanding into the global market.

It is also a true super product that can compete with Tesla in terms of quality, including Tesla's FSD technology overseas.

Despite the hype surrounding new energy vehicles in China, once patriotism is set aside and they go overseas, they are not even in the same league as Tesla.

Not to mention competing with Toyota and Volkswagen in the same price range.

They are not on the same level either.

This allows companies to rely on domestic policy protections and consumers' patriotism to secure high-value orders.

What Chen Pingsheng has always wanted is to be able to compete with Tesla, Toyota, Volkswagen, and other automakers overseas, even without these things.

He had waited eight years for this day.

The release of the Longteng S700 truly ignited public opinion, and this was not something that Tengying Group could control on its own.

These are genuine reviews from car reviewers.

There's a particularly serious phenomenon online: Tesla can be criticized all you want, and no matter how much you criticize it, its offline sales have never lost.

Two models dominate the market.

As for domestic car models, anyone who dares to criticize them online will likely receive a legal summons.

This is actually not conducive to the long-term development of enterprises.

The only way to influence people's choices in the short term is through marketing, including various positive news stories.

It's hard to say whether a company that can't accurately obtain user feedback will necessarily have a good future.

Chen Pingsheng himself allowed online comments to be made freely without any restrictions.

Of course, anyone who makes baseless accusations online without ever having driven one can easily become a defendant.

No company is allowed to allow this to happen.

The Dragon Series was first released as a million-unit model, and it is now in the backward compatibility market.

There's a strange phenomenon in the automotive market: once a brand's positioning is established, it's very easy to move it downmarket.

Trying to break into the market is extremely difficult.

Volkswagen is powerful, isn't it? Porsche, Lamborghini, Bugatti, Bentley, Audi and other brands are all under its umbrella.

With this kind of capability, building a million-unit model would definitely not be inferior to the Mercedes-Benz S-Class.

But the truth is that the Volkswagen Phaeton was discontinued after only a few years on the market.

A typical example of a brand failing to keep up with its price point.

The Longteng S900 has accumulated a group of early high-end customers, and now the release of the mid-to-high-end pure electric model Longteng S700 has immediately ignited the market.

Most importantly, it is indeed the best choice for items under one million.

The Longteng S700, developed with over 200 billion yuan and leveraging the core strengths of three major groups, is bound to be a hit.

Market capitalization is actually the best indicator of the capital market, regardless of how much other companies claim they can surpass Apple.

With a net profit of over 100 billion US dollars a year, it can have a market value of over 3 trillion US dollars.

Even though Samsung's sales volume is much higher than itss, its market value is not even in the same league.

The same principle can be applied to Tengfei New Energy Vehicles and Tesla.

It has to be said that he sold his Tesla stock a bit too early; its market value has now reached $1.3 trillion.

Tengfei New Energy only has 600 billion RMB, which is less than one-tenth of that of others.

The difference is unimaginable.

My small goal for the next five years is to reach half the market value of Tesla.

Don't let the simple way of saying it fool you, it's a real six hundred billion US dollars.

Even Tencent, the country with the highest market capitalization, is less than half the market capitalization of Tesla.

Even if it's tech giant Huawei going public, Chen Pingsheng estimates that it will definitely trigger a frenzy of buying by retail investors in the early stages.

Even with significantly increased stock price expectations, the market capitalization would only range from $500 billion to $700 billion.

This is even with expectations greatly increased, considering that Huawei's net profit is only over 80 billion yuan a year.

It is undoubtedly a leading technology company in China, and a top technology giant globally.

However, he is still far from reaching his peak.

Not to mention that going public would be equivalent to the sum of Apple, Tesla, and Nvidia.

Chen Pingsheng even suspected that the online expert who made this statement was a typical troll.

Otherwise, why would someone be so foolish as to make such a judgment? Wouldn't that obviously invite criticism?
Apple cuts more than 90% of the global mobile phone market's net profit every year; its world's number one market capitalization is no joke.
It will take at least another five years for Tengfei New Energy to reach half the market value of Tesla.

This is already an incredible achievement.

Running a business requires a pragmatic approach, and Chen Pingsheng believes he is quite capable in this regard.

(End of this chapter)