The unparalleled talent of the country started from Harbin Institute of Technology

Chapter 292 Gifts to Send Away a Beggar Break His Defense
December 8, 1985, at Wang Duoyu's home in the Harbin Institute of Technology faculty villa area.

The little guy Wang Junhong only tried about fifty of the keys before he broke down and burst into tears because it was too troublesome.

This metal box is quite large, containing hundreds of keys, each corresponding to a lock. To unlock it, you have to try every single key.

My goodness, this is quite a workload.

"Difficult? I don't think it's that difficult. You're so smart, and you always pride yourself on being smarter than me. Don't you want to think of other ways to solve it?"

After a pause, Wang Duoyu continued:

"You are still very young. You will only be five years old after your birthday today. You have a long life ahead of you and you will encounter many more problems. How will you solve them then?"

“I tried to reason with you before, but you said you were too young to understand. Now you should understand, right?”

"You're so smart, Mom and I believe you can definitely handle this. Don't cry, calm down, think of a solution carefully. Come on, show me!"

Honestly, would Wang Duoyu really enjoy making things difficult for his child?
Of course not, but Wang Junhong is a self-proclaimed smart guy who has repeatedly defied discipline. Even if you hit him, it only makes him temporarily obedient. Afterwards, he will still go to the adults to 'explain'.

So this little brat definitely needs to be taught how to behave properly, otherwise he'll definitely go against the heavens in the future.

Upon hearing this, Liu Xiaoli and the others on the side looked at each other thoughtfully.

And Wang Junhong, that little guy, was indeed quite clever. Although he was still crying, he got up and went out to ask Yuan Zuliang and the others for help.

Yes, asking for help is one way. As long as we can break this iron box, it's fine.

With Yuan Zuliang and his team testing each lock one by one, they quickly unlocked them.

But to Wang Junhong's dismay, when he opened it, there was another iron box inside, only a little smaller, but it was still locked with many locks.

At this moment, Liu Xiaoli and the others all burst out laughing again: Wang Duoyu is too mean!

"Dad, I don't want your present anymore!"

The little brat immediately stood up angrily and said he didn't want it anymore.

"No, this is a gift for you, and it's the gift you asked for. You can't refuse it."

Upon hearing his father's words, Wang Junhong couldn't help but cry.

It seems that a phrase he had learned before, "lifting a stone to drop it on one's own foot," is quite fitting to describe his current mood.

He couldn't just refuse; he had to repeat what he had said to his father before: "I want the gift you give me. What father doesn't give his child a gift? You have to give me one."

Now that his father has given it to him, he has to accept it.

Well, he really can't outsmart his father.

then what should we do?

What else can I do?
Let's keep dismantling it.

However, we definitely can't ask Yuan Zuliang and the others for help again, because we've already done so.

So he had no choice but to borrow a chainsaw from his neighbor and dismantle the broken metal box.

My neighbor is a professor in the mechanical engineering department, and he has a lot of tools at home, including a chainsaw.

After borrowing the chainsaw, it was indeed disassembled.

However, instead of continuing the nesting of dolls as everyone expected, the 'gift' inside was revealed.

However, this gift is not complete, because it has not been assembled yet.

Actually, it was just an airplane model. Wang Duoyu deliberately had the entire completed airplane model disassembled and then gave him an assembly diagram.

Well, the little brat has plenty of time to assemble it.

This model was actually designed by Wang Duoyu himself, and produced by the Motong Toy Factory.

This aircraft model has no reference point whatsoever. If there is one, it is a commercial airliner that will only appear in the future.

Furthermore, this is not a plastic toy, but a model toy made of copper alloy, which is very beautiful and exquisite. The key point is that it will not rust no matter how you play with it.

Once finished, it can be placed in a prominent position in your home as a decoration.

"Thank you dad!"

Wang Junhong was in a bad mood when he saw that pile of 'scrap metal', but he was very happy when he opened the instruction manual and saw the effect display pictures.

Are you still crying now?

"Don't cry anymore, thank you Dad, the gift you gave me is wonderful!"

It's definitely great! Who can afford to give away a model toy like that?
If the Magic Child Toy Factory were to produce such a toy, also made of copper alloy, then the price would be at least two thousand US dollars.

I just don't know how many boxes we can sell.

The Magic Child Toy Factory was a factory that Wang Duoyu mentioned wanting to build when he went to Guangzhou to "seek refuge" in July and "negotiated" with Yuan Youlan and others.

Originally, they only produced small ornaments and pendants, which were just toy figurines related to movie merchandise, TV series, and novels.

To be honest, Yuan Youlan and the others didn't attach much importance to it. However, this factory was an industry under the Want Want Group, and it was also an enterprise that Wang Duoyu took the initiative to propose to establish, in order to promote the development of Guangzhou Small Commodities Wholesale City.

Otherwise, Yuan Youlan and the others probably wouldn't even know that such a factory existed.

The next day, Wang Duoyu returned to his office, finally having time to continue his research on basic mathematical theory.

In the afternoon, he made a special trip to the Institute for Advanced Study in Harbin to talk with Charles Feufman and others.

When they saw him, Charles and the others stared wide-eyed, their faces filled with disbelief.

Since the establishment of the Institute for Advanced Studies, Wang Duoyu has only visited this place a handful of times.

However, he is the director of this research institute, yet he comes so rarely. Anyone who didn't know better would think he was a guest.

No matter how surprised they were, Wang Duoyu had come to talk to them anyway, so let's cut the small talk and get down to business.

For the next two days, Wang Duoyu came to work at the Institute for Advanced Studies until the 13th, when he could no longer go because Yuan Youlan and the others came from Guangzhou.

"Mayor Yuan, it's been a long time! You look radiant. You must be doing very well lately."

"Not at all, it's all thanks to Professor Wang's guidance. Otherwise, we wouldn't be having such a hard time lately. That's why I came to see you this time, not only to report on the situation but also to ask you for some advice."

Yuan Youlan placed herself in a very humble position and showed Wang Duoyu exceptional respect.

Over the past six months, Yuan Youlan and his team have been actively contacting foreign automobile companies to prepare for the establishment of joint venture brand factories.

There was little news in August and September, but after entering October, there was a lot of good news.

why?

Because Takeshita Noboru and his associates signed the Plaza Accord, and after returning to Japan, they began to loosen monetary policy significantly, and also talked to companies such as Toyota and Nissan about industrial transformation.

The appreciation of the yen is unstoppable and irreversible.

Then we can only go with the flow.

To help Japan restructure its industries and assist more Japanese companies in going global and entering the international market.

So Takeshita Noboru and his group were fighting desperately.

Therefore, if companies like Toyota want to develop, they must find better markets, and Guangzhou, Shanghai, and Beijing are very good options.

Although China's market is far from being developed, the country has a large population and is now implementing reform and opening up, so people will definitely become richer and richer.

Will placing bets now lead to a "bargain" in the future?

After Toyota, Nissan, and other automakers came to Guangzhou for negotiations, Yuan Youlan and his team finally seized the opportunity to bring all these companies to Guangzhou.

Yuan Youlan and his team also made considerable efforts to attract foreign investment.

They kept bragging and exaggerating the size of the Chinese market.

Even though the sales figures of companies like Yuma Clothing and Brabus Watch Factory in China had absolutely nothing to do with automobiles, Yuan Youlan still presented them.

Because Chinese people value face and grandeur, which family wouldn't want to have a wedding procession of cars?
The sales figures for Brabus watches in China also reflect the fact that there are quite a few people getting married these days.

These are all sales figures; whoever gets in first will gain the upper hand.

With all their efforts, Yuan Youlan and his team finally persuaded several Japanese car companies, including Toyota, to establish operations in Guangzhou.

This is absolutely a big deal, and a really good thing.

However, it's only a preliminary agreement yet, and a formal contract hasn't been signed.

The reason Yuan Youlan came to Harbin at this crucial time was not because she was bored, but because Yuexiu Company was urging her to clear out those Japanese yen.
"Professor Wang, you said before that you would clear out the positions by the end of the year, but it's already the end of the year. Isn't it time to clear out now? The current closing price of USD/JPY is 181. Do you think we should clear out the positions now?"

Today is December 13th, and one US dollar is worth 181 Japanese yen, which is indeed a significant appreciation from the previous 1:250.

The US dollar has depreciated drastically; the rate of depreciation is simply outrageous.

This is a fatal blow to Japan's export manufacturing industry, including companies such as Toshiba, Toyota, Sharp, and Sony.

In contrast, the US export manufacturing industry is now overjoyed, practically bursting with excitement.

Because of the depreciation of the US dollar, their products are no longer afraid of competing with products like Toyota, and they can make a lot of money.

Many financial companies that trade foreign exchange also made a fortune at this time. If they had already closed their positions and left the market, they had basically all made money.

Wang Duoyu heard this and said with a smile:

"I did say that, but you should also have your own judgment. If you think it's okay to leave, then you can leave. You don't have to wait for me to say you're leaving before you do."

"Because from the very beginning, when I gave you this advice, I said that I was not responsible. What you did, how much you made, or how much you lost is none of my business. I am not responsible!"

"If you're not greedy, you can exit now and take your profits. Conversely, if you believe your assessment of the situation is very accurate and that the yen will continue to appreciate, then you can wait a bit longer. After all, it's the end of the year now, but December 29th, 30th, or 31st will also be the end of the year."

"However, whatever judgment you make is none of my business. I won't give you any random advice, understand?"

Yuan Youlan immediately understood.

After all, Wang Duoyu's voice-over had made it so clear; if he still couldn't understand it, then he would truly be stupid.

That evening, Wang Duoyu hosted a dinner for Yuan Youlan and her group at the Harbin Institute of Technology cafeteria, and everyone enjoyed the meal.

This time, Yuan Youlan also asked someone from elsewhere to find a case of Wuliangye liquor that had been aged for twenty years and sent it to Wang Duoyu as a thank-you gift.

Wang Duoyu didn't want the gift, but since it had already been given, he couldn't very well let someone take it back.

Furthermore, Yuexiu Company did indeed make a lot of money this time, so it was only natural for Yuan Youlan and the others to send some over.

In the following days, Wang Duoyu expected even more people to come to Harbin Institute of Technology to bother him, but he was surprised to find that even though it was almost the end of the month, no one came.

It seems they learned the news from Yuan Youlan, which is why they didn't all come over to bother Wang Duoyu.

It's actually better if no one bothers us.

However, Wang Duoyu soon realized he was overthinking things, because on the 18th, Liu Deben came to see him with several leaders and experts, as well as Yu Zhengze and Ao Xuanling.

After exchanging pleasantries in the office, Yu Zhengze quickly brought up the fiber optic cable project that Wang Duoyu had mentioned before.

The fiber optic cable project from Beijing to Harbin has already been approved. The leaders came here this time to discuss building another fiber optic cable from Beijing to Kowloon.

Yes, Kowloon, also known as the Kowloon Peninsula, is the Kowloon Peninsula located next to Victoria Harbour.

So this "nine" doesn't refer to Jiujiang in Jiangxi.

Since it's going to the Kowloon Peninsula, the entire fiber optic cable coverage would be extremely long.

"Boss, I agree with this project, but what do you want to discuss with us?"

Wang Duoyu didn't quite understand. This was definitely a good thing, since it would connect Beijing and Hong Kong, or simply put, connect Shenzhen, Guangzhou, and other southern regions. Of course, it was a good thing.

The leader immediately spoke up, somewhat embarrassed, saying that they didn't have much funding and asked if Harbin Institute of Technology could provide some assistance.

Ok?
"Sure, we can invest ten million RMB to support our country's telecommunications industry. It's our duty."

Ten million RMB?
What about sending beggars away?

Upon hearing that the investment was only ten million RMB, the leader's face darkened, but he didn't show it.

However, Wang Duoyu didn't care whether the leader was angry or not. After all, he didn't know the other party. How could it be possible for them to come to his door and ask Harbin Institute of Technology for donations?
"Secretary, you two can discuss this yourselves. I'm just an ordinary math professor, so I won't get involved. You can talk it over."

After saying that, Wang Duoyu got up and left.

I don't know where they got their connections, but they really think Harbin Institute of Technology is easy to bully?
It's hilarious.

Although Huaxin Company is a subsidiary of Harbin Institute of Technology (HIT), building optical fiber cables would benefit Huaxin Company and Zhuoyue Technology as well. However, it is impossible for HIT to establish a telecommunications operator in China; otherwise, HIT would have done it on its own long ago.

I don't know if this leader's thinking is still stuck in the past, or if something has burned out his brain, but he actually dares to come to Harbin Institute of Technology to "charge fees arbitrarily". Does he not know how many eyes the King of Horses has?

Forget it, this isn't something Wang Duoyu should be angry about. He was just lamenting the decline of morality in the world.

This is not surprising, because as reform and opening up deepen, more and more people are becoming increasingly outrageous, and they really don't know what reverence is.

Moreover, these people are extremely violent.

To be honest, the robbers Wang Duoyu encountered on his way from Shangri-La to Kunming all knew how powerful the Type 78 improved automatic rifle was, so they wisely refrained from further violence.

But the leader who came to Harbin Institute of Technology to ask for money this time really doesn't know the meaning of respect.

So why should Wang Duoyu get angry at this kind of person?
of course not!

Pandora store located on Fifth Avenue in Manhattan, New York City, one of the busiest streets in the area.

Today is December 20th, and Christmas Eve is just around the corner.

The Christmas shopping spree has already begun, with all sorts of advertisements and promotions plastered all over the streets.

As a high-end luxury brand, Pandora is holding a promotion this year, just like last year. However, the gifts they are giving away this year are quite different from last year.

All members who spend $50,000 or more during the Christmas shopping extravaganza will be entered into a prize draw.

This lottery guarantees a 100% chance of winning, with prizes including jade and pearl pendants, gold and leather bags, and platinum brooches.

There weren't many gifts, but each one was an absolute gem.

For example, the gold and leather bag has a chain made of pure gold, as well as buckles and other accessories. The leather is made of crocodile skin, which is of very high quality. It takes half a year to make and is a high-quality product made entirely by hand.

Only twenty-four of these gold and genuine leather bags were ever made worldwide, and they are now a limited edition; such bags will never appear again.

In other words, it will only be launched this year.

If you want to buy a bag like this, that's fine too; the price is $128,000.

This year, gold prices have fluctuated between $284 and $340 per ounce, while this genuine foreskin used at least 100 ounces.

The gold alone is worth over $30,000, so the quality of its materials and its durability are questionable.

Although only five gold leather bags were offered for the lucky draw, it was still quite a lot.

Some people are willing to spend $50,000 to buy a spot in the raffle, while others are willing to pay $128,000 to buy such a bag.

Everything is voluntary; after all, Pandora never harms the poor.

A bag costing $128,000 is already considered extremely luxurious in the entire luxury goods industry.

Only twenty-four bags were released globally, and this is a limited edition item, meaning that if you go out with such a bag, it's unlikely you'll bump into anyone else carrying it.

Although the lottery format might seem low-class, it actually isn't.

Because it costs $50,000 to get a spot in the raffle, it's not an easy thing to do.

Pandora's products are known for being exquisite, valuable, and ultra-luxurious; they sell works of art, not commodities.

So even the prizes for the raffle are genuine gold and leather bags—all real. Besides gold and crocodile skin, there are many subtle anti-counterfeiting technologies. These are techniques that only Pandora employees know how to distinguish between genuine and fake. Therefore, it's truly accurate to say that Pandora sells works of art.

When Wang Jianchao arrived at the Manhattan store, he saw two customers who couldn't get a chance to win a prize because their $2,000 purchase wasn't enough to reach $50,000. The salesperson was even arguing with the customers about it.

Do you really not know how to be flexible and adaptable?

Fortunately, the store manager stepped in and flattered the customer with a few words, making her beam with joy. Then, after clarifying the situation, the manager found out that the customer wanted a gold leather bag, but she didn't want to spend money to buy it; she wanted to try her luck in a prize draw.

Well, this store manager is something else; he beats around the bush with the customer and starts talking about other things.

After making the customer happy again, the store manager carefully inquired about the occasion and clothing matching of carrying the gold leather bag.

Because this bag isn't suitable for every occasion.

The guest in front of me is actually a minor celebrity. He needs to appear at a certain event in a few days and will have to compete with others because the event is very important and his appearance must not be looked down upon.

That's why we need a bag like this.

After the store manager understood the situation, he turned around and started introducing another bag to the customer.

The price is not expensive, only $18,000, but the design of this bag is very unique, and it also uses many exclusive techniques.

Most importantly, this bag is the newest model this year, with only 108 available in the entire United States. Since it just arrived today, it's estimated that no one in the United States is carrying such a bag yet.

One sentence was enough to make this obscure celebrity's eyes light up, and she willingly took out the money.

In 1985, many ordinary Americans earned only $18,000 a year, and the Ferrari 288 GTO supercar, launched in 1983, was priced at just over $80,000.

That's why prices in this world are so amazing.

This obscure celebrity was able to spend $18,000 on a handbag, and before that, she had spent $48,000 on other clothes and other products.

This shows that there are indeed a lot of wealthy people in the United States.

And so, what was a perfectly normal sales pitch that almost turned into a complaint actually became a successful marketing campaign, weathering the crisis.

After reading it, Wang Jianchao couldn't help but sigh, these seasoned store managers, although they were employees hired at high salaries, were worth it.

The store's business often relies on the store manager's contributions to keep it afloat.

Many shop assistants still need to work hard to learn; otherwise, when will they be able to carry a gold-plated genuine leather bag?
After leaving the store, Wang Jianchao went to the New York headquarters, met up with Zheng Baoyin and the others, and then had a meal together, chatting casually as they ate.

Two things: first, when to return to China; and second, how much money each of us made in our respective companies over the past month.

As time went on, Wang Jianchao and Zheng Baoyin were responsible for more and more business. Sometimes they could get together once a month to chat, but often they couldn't, and it would take either a month and a half or longer.

It was a rare occasion for everyone to gather together. Liang Shengzhi, Qu Haiping, Wei Ruolai, Wang Jianchao, and Zheng Baoyin all came, so the atmosphere was very cheerful.

"New Year's Eve in 1986 was February 8th, so we didn't need to go back that early, but we should have gone back around mid-January."

Zheng Baoyin said something that received unanimous approval.

Now that the return-home dates are set, the next thing to do is talk about how much money we've each made.

So how much money did they actually make?
This definitely doesn't include the appreciation of the yen, because if we're talking about that, no one can beat Maple Capital.

Currently, the head of Maple Capital is a foreigner named Hela O'Brien.

Although this person is a foreigner, he is of mixed race; his mother is Chinese, and both his maternal grandparents are Chinese.

To be precise, Hela O'Brien's maternal grandfather is Ding Quanzheng, a teacher at Peking University. He was a retired office manager from China Resources Company and currently resides in the United States.

This wouldn't have been a big deal, but Hela O'Brien's fluent Mandarin was a delight to hear.

Meanwhile, Hela O'Brien has been working at Yuma Apparel Company for over two years, almost three years.

Three years isn't a long time, but it's enough to get a general idea of ​​a person's character.

In addition, although Hela O'Brien is in charge, she is actually responsible to Wang Duoyu.

Maple Capital is a subsidiary of Maple Leaf Holdings located in the United States, but it controls a significant amount of capital.

Maple Capital is undoubtedly the most profitable company in this wave of yen appreciation.

Because of the large amount of funds it raised, even many Wall Street financial institutions and banks that had previously lent money to Maple Capital couldn't help but feel envious.

"Pandora's marketing strategy this year has been quite good. Currently, the average daily revenue of each of our stores has exceeded that of the same period last year. However, whether we can extend this revenue figure to after New Year's Day is hard to say."

Hearing Wang Jianchao's words, Zheng Baoyin and the others couldn't help but feel envious.

After all, Pandora only had 52 stores across the US last year, but this year there are more.

Despite the increase in stores, the average daily revenue has actually exceeded that of the same period last year, when each store averaged over $120,000 per day.

Goodness, did Pandora reach $140,000 this year?
Unbelievable!

Is it really that easy to make money off Americans?

Muscle Shark did some marketing this year, and although the campaign wasn't big, sales did increase significantly, but it's still estimated to be at the bottom this year.

Although Pandora has few stores, it is a high-end brand, and can even be considered a luxury brand.

Yuma, Yuebu, and Xibeier are all formidable competitors; none of them are easy to bully.

"Alright, Lao Liang, stop feeling sorry for yourself. If we think like that, then Lao Wen in China should just buy a block of tofu and smash his head against it."

The "Old Wen" that Zheng Baoyin mentioned was naturally Wen Shixuan, who was in charge of the Hongxing Steel Plant.

The latter has never been abroad and has been traveling around China.

Although Red Star opened a branch factory in Kunming this year, it remains to be seen how much money it will make.

They frequently returned to China and were able to find out about the situation at the Hongxing Steel Plant.

Therefore, even if MuscleShark isn't a great sports brand, it still earns foreign exchange, which is still quite profitable.

"Baoyin, where is your Yuma? Stop hiding it, tell us quickly."

Wang Jianchao interrupted anxiously, and Zheng Baoyin rolled his eyes helplessly before talking about the situation of Yuma Clothing in the past month.

In the US market, Yuma Apparel is opening more and more stores, and its revenue in the US this year is expected to exceed 290 million US dollars.

When everyone heard his figure and did a quick mental calculation of their previous revenue, they exclaimed in surprise.

Of course, if Yuma Apparel's annual revenue in the US market exceeds $290 million this year, it will be almost $30 million more than last year's $256 million.

This data is quite impressive.

After all, with so many stores and such a large scale in the US, it's remarkable that they not only didn't reduce their revenue but also managed to increase it by 30 million US dollars.

Afterwards, Wei Ruolai and the others also talked about their revenue data. After discussing this topic, everyone turned their attention to the recent hot topic of the appreciation of the Japanese yen.

They're all in New York now, and the discussion about the yen's appreciation is even more heated and widespread.

For example, Wang Jianchao mentioned that many people within their Pandora company had invested in the Japanese yen.

Because everyone isn't stupid, they all understand that the appreciation of the yen has indeed been quite a hot topic recently.

Almost three months have passed since September 22nd.

However, in just three months, the USD/JPY exchange rate appreciated from 250 to 178, which is truly astonishing.

"Oh, so how much money did you make? When are you planning to sell?"

When Zheng Baoyin asked this question, he was not asking about the company's own investments, but rather their personal investments.

Wang Jianchao and Zheng Baoyin were the two people who had been with Wang Duoyu the longest, and were also the boldest and most trusting of him, without exception.

They had previously invested in the Los Angeles Olympics and made a lot of money.

But compared to this, this amount of money is insignificant.

"Hehe, I can't tell you, lest you find out about my little stash of money." Wang Jianchao chuckled immediately, then said:
"However, as Uncle Nine told us before, I plan to start selling when it reaches the 170 range."

Before June of this year, Wang Jianchao had already invested all his wealth in Tokyo, directly purchasing two buildings.

After buying the two buildings, he borrowed 80 percent of their value, or 12 million US dollars, from Mitsubishi Bank, Japan's largest bank, and invested it all in Japanese yen.

In this way, it seems that he lost a lot of money, but you have to understand that he didn't have that much money to begin with.

The two buildings were originally purchased with loans, and then he took out another mortgage loan, which resulted in even more money being raised in the end.

This is mainly because Japan is currently implementing a loose monetary policy, making it extremely easy to obtain loans.

Even if things turn out differently for these two buildings in the future, or whatever other circumstances arise, it won't be a big deal for Wang Jianchao.

He can make a lot of money from this current wave.

For example, he took out a loan in June, and the loan contract he signed with Mitsubishi Bank was to be repaid within one year. He borrowed 12 million US dollars, and after one year, he only needed to repay the 12 million US dollars.

He spent 12 million US dollars and received 3 billion yen.

Perhaps he won't need to wait a year; he could simply spend 2.24 billion yen to exchange for 12 million US dollars and pay off the loan.

In just a few months, he earned one billion yen.

However, he didn't just hold these yen; he invested them in the Japanese gold market.

Why invest in gold?

Gold appreciates as the dollar depreciates.

In fact, in June, gold was only $290 per ounce, but now the price of gold has risen to $330.

Therefore, from this perspective, Wang Jianchao made two rounds of money from this loan of 3 billion yen.

He spent Japanese yen when he bought the gold, so when he exchanged it back, he directly exchanged it back to Japanese yen.

He calculated that he had made at least seven million US dollars from this round of market fluctuations.

A small investment can yield a big return, creating a bright future.

Upon hearing this, Zheng Baoyin smiled and said:

"I'm not like you, hiding things away. I'll just say it out loud: I think I'll make around 23 million US dollars this time. Hehe, and it'll probably keep going up, so it could end up being 26 million."

Wang Jianchao was immediately astonished:
"What did you say? You actually earned that much? Twenty-six million US dollars? Holy crap, how is that possible? What did you do?"

"You wouldn't know this, would you? Hehe, you're still behind the times."

lever!

Yes, Zheng Baoyin directly increased leverage.

Back in June, Zheng Baoyin used all the money he had borrowed to bet heavily on the foreign exchange market and leveraged it up.

Of course, Zheng Baoyin didn't bet too much, because it's simple: this matter can't be handled recklessly.

Five times leverage is enough.

If he gets liquidated, he will definitely lose everything.

Fortunately, his trusted ninth uncle did not disappoint him; his gamble paid off.

Before Wang Jianchao could even break down and regret it, Qu Haiping chimed in, "..."
"Yes, although I don't have much money, I also used leverage, but my leverage was higher than Lao Zheng's, so I cleared out my position yesterday and made a profit of 28 million US dollars."

Wei Ruolai and Liang Shengzhi also stated that they had also profited and left the market, earning a considerable amount, similar to Qu Haiping.

Wang Jianchao immediately fell silent.

He didn't know what to say.

He originally thought he was pretty awesome for earning seven million US dollars, but he didn't expect that he would still lose a lot of money.

In the financial market, there is a concept of leverage, which allows one to potentially gain a large return on a small investment.

After all, he put in several million US dollars and ended up making seven million US dollars, which is already very impressive.

But now it seems he was too conservative.

Qu Haiping, Wei Ruolai, and Liang Shengzhi are the real geniuses. They didn't have much personal capital to begin with, but through leverage, their net worth suddenly surpassed his.

Indeed, the bolder the people, the more productive the land becomes.

However, it's not such a simple game, because Qu Haiping and his group didn't have much capital to begin with, so they wouldn't be too heartbroken if they lost money.

But if Wang Jianchao loses his own millions of US dollars, he will definitely be mentally devastated.

Because he can't afford to lose money.

Therefore, he dared not increase leverage, while Wei Ruolai and his group were very brave, so they made a lot of money.

"You all have to take turns treating us!!!"

Wang Jianchao gritted his teeth and said.

Originally, everyone was about the same, but now, my friends are all millionaires with assets of over 20 million or even 30 million US dollars.

As it turns out, his net worth was only a little over ten million US dollars, less than half.

unacceptable!

Haha!

Zheng Baoyin and the others burst into laughter. They didn't bother to ask Wang Jianchao how much money he had made, since his reaction had already explained everything.

If they press him further, he might really get angry and embarrassed.

After dinner, Wang Jianchao saw that the USD/JPY exchange rate had reached 178. Remembering what his Uncle Jiu had said before, he immediately liquidated his positions and cleared out all his profits.

After clearing out his positions, he did not immediately repay the funds to Mitsubishi Bank, but instead began to build new positions and invest in Japanese yen.

On the other hand, he approached several institutions, including Yokohama Bank, and asked them to increase leverage.

He quickly leveraged his investment, twenty times!
After he used that leverage, he spent the next few days keeping a close eye on the yen's situation.

Fortunately, nothing bad happened to Pandora. Otherwise, he would definitely have been severely scolded by Wang Duoyu when he returned to China.

As December 29th arrived, Japan continued to sell off dollar assets, and the foreign exchange market quickly responded.

The yen quickly rose to a new high of 168.

Breaking the 170 mark means Wang Jianchao made a lot of money, after all, the difference between 178 and 168 is a full ten yen, which is quite a lot.

Wang Jianchao had previously taken out a loan of 12 million US dollars, which he converted into 3 billion Japanese yen and invested in the gold market.

He earned approximately seven million US dollars. After liquidating his holdings, he had a total of 4.2 billion yen, which included a loan of 12 million US dollars.

All 4.2 billion yen was invested in the foreign exchange market, and then leveraged twenty times, which amounted to 84 billion yen.

When the amount is equivalent to 84 billion yen, and the exchange rate is 178 yen to the dollar, this amount is equivalent to 471.9 million US dollars.

The yen appreciated by 10 yen. Based on the exchange rate of 168 yen to the dollar, 84 billion yen is equivalent to 500 million US dollars.

The profit comes from the price difference, which is 500 million minus 471.9 million, equaling 28.1 million US dollars.

After the transaction was completed and fees were deducted, he made a total of over 27 million US dollars.

A wave of fat!

The risk was indeed high, but he made more money than Wei Ruolai and the others in one go, and Wang Jianchao's mindset finally became much more balanced.

However, he managed to regain his composure, but Zheng Baoyin and the others were thrown into disarray after learning about it.

(End of this chapter)