Those Years When I Was Forced to Top the Forbes List

Chapter 100 I'll never owe money again!

In 2024, two private Chinese construction companies will still be among the Fortune Global 500.

Unlike Evergrande, which only briefly appears in the top 500, one company has been on the list for 10 consecutive years, and at its peak, it was in the top 100. Another company has also been on the list for 3 consecutive years.

Moreover, neither of them has ever gone public or raised funds, and they hold nearly 100% ownership.

Pacific Construction Group, Jiangsu Construction Group.

Furthermore, both companies belong to the same person.

Yan Jiehe.

He was known as China's No. 1 contractor and also had the nickname "China's No. 1 Madman".

Claiming his assets surpass those of Li Changjiang, he slammed Xu Daipi as a fraudster, and when Lao Wang became the richest man, he said Lao Wang's model had come to an end.

When he belittles others, he also loves to boast, averaging two out of every five sentences he speaks about himself.

One out of every three times he takes the stage to speak, he reminisces about the past, mentioning the small culvert he built for Nanjing back then.

Here's what happened:
In 1992, Yan Jiehe lost his job due to having a second child and started his own business. He took on a project involving three small culverts on the Nanjing Ring Expressway. It was a project that had been subcontracted five times, and the management fee had been collected by the four subcontractors above him, totaling 36%. After carefully calculating the costs, he found that if the construction was carried out according to the original plan, he would lose 50,000 yuan.

Yan Jiehe made a snap decision: "Let's do it! Since we're going to lose money, let's be generous with it. We need to do it better and faster than originally planned. Losing 80,000 is worse than losing 50,000!"

As a result, we actually lost 80,000 yuan, but we worked until New Year's Eve, completing the project halfway ahead of schedule while maintaining quality and quantity.

Later, the project team approached him at the beginning of the year and gave him priority to work on the supporting projects for the ring road. By the time the project was completed, he had generated more than 30 million yuan in output value and earned 8 million yuan.

This story became Yan Jiehe's golden story, and also the story of how Pacific Construction got its start.

Not to mention how much money Lao Yan owed for construction projects, it's quite remarkable that a private construction company like his is still alive in 2024, and both of his companies are in the Fortune 500, ranking 161st and 340th respectively, with a combined annual revenue of nearly one trillion yuan.

Chen Xuebing felt that he should also have a story.

This bridge project is also a highway project, belonging to the Chongqing-Changsha Expressway project. Its scale is no smaller than that of the Nanjing Ring Expressway back then, making it a very suitable platform for story dissemination.

Yan Jiehe lost 80,000 yuan in 1992.

In 2005, he should have paid out 480,000 yuan.

……

It's easy to say, but hard to do.

Even if you want to compensate, you still need other people's consent.

Both ends of the highway have been contracted out, and they've been working on it for a week or so, generating some revenue. Getting them to switch to a section outside the entrance of National Highway 319 is still a problem.

But we can't delay any longer.

Once the excavation is complete, the foundation will be laid.

Chen Xuebing stood at the entrance of the bridge construction site, hands on his hips, thinking for a long time. He chuckled, made a phone call to the seven pipeline teams to hold a meeting in Furong Village, and then set off for the county.

I withdrew 20 yuan from the Agricultural Bank of China and made a reservation for a large cash transaction for the next day.

These days, the maximum withdrawal limit for ATMs is 5000, while the limit for withdrawals at bank counters is much higher; you need to make an appointment for withdrawals of 20 or more.

After the Anti-Money Laundering Law was introduced in 2007, the limit for ATM withdrawals was raised to 20,000 yuan, while the limit for counter withdrawals was lowered. Withdrawals of more than 50,000 yuan required an appointment and could only be withdrawn the next day.

Upon arriving at Furong Village, at the landlady's house, the pipeline crew had already arrived and were sitting leisurely on the second floor, munching on sunflower seeds.

When he saw Chen Xuebing, he greeted him with a smile.

"Oh! Mr. Chen has finally arrived! What brings you here?"

"Mr. Chen, we've been waiting for you for half an hour! Just give us a call if you need anything! Both construction sites are very busy!"

Chen Xuebing entered with a gloomy face, and as soon as he sat down, he slammed his hand on the table, startling the seven people.

"Who said I subcontracted the project to you?!"

The atmosphere became heavy.

Chen Xuebing continued to yell, "Damn it! People say I'm not in the project business, I'm a middleman!"

The air fell completely still; we looked at each other.

"You're so slow and dawdling when you're doing work! Every time we go to the project office, we get yelled at! You've completely disgraced us!"

As Chen Xuebing spoke, he slammed a plastic bag containing 20 yuan onto the table with his other hand.

"You only took a few tens of thousands of yuan from me? I'll return it to you today! I'll take all the output value you've generated during this period! Get the hell out of here!"

Two hundred thousand yuan was revealed from the bag on the table. When the group saw the bundles of cash, they knew that Chen Xuebing was serious.

"I didn't say that, Mr. Chen!"

"I've never even met anyone from the project team!"

The group of people all began to distance themselves from the situation.

The burly, fattest man, Teng Ruilong, hesitated for a moment, then suddenly slammed his hand on the table and said:

"Mr. Chen, let's not beat around the bush. I was the one who said I was subcontracting! The deputy manager of that project came to my construction section and asked me why I was working so slowly. He also asked why I didn't use an excavator. He was so aggressive that I could only tell him that I was doing the whole contract! I was only doing 500 meters. What's wrong with manual excavation? There was a shortage of excavators nearby, so I had to bring in some from afar. The cost of getting them in and out of the site was enough for me to hire someone to excavate 100 meters!"

After he finished speaking confidently, he frowned and said:
"But... bro, I really didn't mean to mess with you!"

Chen Xuebing raised his eyebrows.

He initially thought someone was trying to steal his project and that's why he was being targeted, but it turns out that's what really happened.

But he didn't make trouble for this matter today, so he'll continue to argue.

"Do you know how many scapegoats I've been made to because of your one sentence? They told me to quit! Now I have no choice but to agree to pay over 300,000 yuan of my own money to install geogrid and rush to finish the repairs on the three kilometers of road after National Highway 319 before they'll let me continue construction!"

The soldier has mastered the art of shifting blame; he can unleash his skills with a mere thought.

Upon hearing this, everyone exclaimed in unison, "Holy crap!"

Judging from their tone, it sounds like they want us to pay up!
"Impossible, right, Mr. Chen! The contract was signed, wasn't it? He's just saying we can't do it? He probably doesn't want to do the repairs anymore! What's the point of working with them? We've already started building the road, and they want to kick us out? They'll make us pay up! We'll finish the repairs and give them the contract and their money! If they don't pay, well, they can't use the road!"

This statement has a double meaning; it seems to be offering advice, but it is actually a warning to Chen Xuebing.

This was exactly what Chen Xuebing was worried about: a few people were making exorbitant demands because they thought they had generated some output.

However, I have an information gap.

He chuckled: "You think this is the only road that can transport materials? They're building a bridge, right next to the Wujiang River, with a waterway available! Plus, they have a temporary road for vehicles to get in and out! Do you really think you can hold them back? If they don't agree, try building it yourself. This road is entirely financed upfront! They'll hold you back payments for a year or two, and then you'll see who panics!"

I'm totally dumbfounded.

Right! They also have shipping lanes!
These people had no idea that much of the equipment was transported from several other highway construction sites along the 319 highway. To use the waterway, they would have to detour at least several hundred kilometers.

"Mr. Chen, what's this 'earthwork' thing you just mentioned? I've never heard of it!"

Chen Xuebing didn't bother to explain further.

"Something to reinforce the road surface!"

Geogrids are not popular nowadays; he only learned about them after building two asphalt roads in later generations.

"Then...it will cost over three hundred thousand?"

"Seven yuan per square meter, that's the price the project team quoted me. 7.1 kilometers, 5.5 meters wide, installation fee is one yuan. You can calculate it yourselves!"

Fatty Teng muttered to himself for a while, calculated the cost, and became even more conflicted.

"A meter of road only costs around 500 yuan. If we add 40 yuan to the cost, how can we continue? There's no point in doing it!"

Chen Xuebing sneered, "What do you have to calculate? Did I say you had to pay? I'll buy the materials myself! I came here today to get you to leave! Money isn't the most important thing to me. What I hate most is people who don't listen to me and badmouth me to the client behind my back!"

These words, though seemingly a reprimand, gave everyone a glimmer of hope.

Did Mr. Chen buy the materials himself?

Those who were more discerning immediately began to express their opinions:

"Mr. Chen, we've been very obedient! Who badmouthed you?" "Yes, Teng Ruilong didn't do it on purpose. If you had told us beforehand, we would have told the client that we were your team!"

Upon hearing this, Fatty Teng immediately said, "President Chen! I'm sorry for what happened! Please give me a chance, I'll go and explain things to them!"

Chen Xuebing waved his hand.

“If you still want to continue, let me make this clear: this highway is backed by a major project! I’m fighting for the future opportunities, so I’ll do a good job even if it means losing money! I’ll cover the cost of the geogrid for you; you can use that money to improve the quality! Also, Sang Hetong, Lan Jie, and Teng Ruilong, you three will have your work sections adjusted. Move them to the middle and later sections, which are farther from the factory area. I will be responsible for the 4.1 kilometers starting from the factory gate. As for the excavation you’ve already done, I’ll give you a fixed price and reimburse you for it.”

“This…” Lan Jie and Sang Hetong hesitated when they heard that they were going to be transferred to a different work section, and wanted to say something.

Chen Xuebing raised his hand again: "I haven't finished yet. The gratings we bought are to be installed by your workers! And I didn't say you were to do it. If you're sure you can do this road well, then keep going. In the future, when I get a big project, I'll take you with me! If you're not confident you can do it well, the money is right here on the table. Go collect the money now. I'll also refund your management fees. Quit as soon as possible and don't delay my business!"

Fatty Teng nodded first.

"Mr. Chen, since you've said so, I'll waive the several thousand yuan in labor costs for the initial excavation! Whatever you ask me to do, I'll definitely do it perfectly!"

Chen Xuebing's lips curled up in a smile.

Children can be taught.

But he quickly suppressed his smile and scolded, "If it weren't for the client's request, do you think I would want to clean up your mess? You don't have excavators, but I do! Your current output value could be achieved by an excavator in a day! And now that your sections have been combined, can't you rent two excavators together and share the cost of the flatbed truck? It would be more efficient and the cost would be much lower than if you excavated manually, right?"

The group looked at each other.

"Row!"

Chen Xuebing nodded in satisfaction and stood up.

“If everyone does a good job, I’ll gain prestige in the county and the project team will get new projects. I guarantee everyone will have something to eat.”

After saying that, he picked up the 200,000 yuan on the table and went downstairs.

This 200,000 yuan wasn't originally intended for them. Not to mention the refund fee, even the output value fee they had would have to be paid later.

He had 657,000 yuan in project funds, plus a few tens of thousands of yuan on him, totaling 700,000 yuan. He needed to use it to settle the 800,000 yuan debt owed to Furong Village, buy grating from the project department, and also organize the commencement of construction on the highway.

He had to use the 70 to keep everything running smoothly, and he had to be very careful with every penny.

When he arrived at the construction site entrance, he put on a smile again.

Both brothers, Tan Maoshui and Tan Hailiang, were present. The two experienced construction workers stood in front of the two pools, directing the work and managing the construction site in an orderly manner.

The excavation and backfilling of the entire factory area has been completed. The messy piles of stones and soil have disappeared, and the water pool has been built from the pit through a series of processes. The factory is already taking shape.

For those in engineering, if there's any sense of accomplishment, it can be summed up in four words: rising from the ground.

To truly experience these four words, one must immerse their youth—counted in years—in a small area, watch it dig, fill, build, and finally embellish it.

Every time I complete a beautiful project, I want to raise a glass to myself.

As you keep paying respects, you grow old, and the years have left behind a string of place names, detailed down to the village or street level.

When Chen Xuebing first arrived here, he knew that the three words "Furong Village" had meaning for him, so he paid close attention to the mountains, rivers and landforms, local customs and traditions, and experienced the beauty of the fish and water. This state of mind made him feel at ease in this remote mountain village.

He strolled into the factory area and looked around carefully.

Two red trucks were dumping sand on the road not far from the gate when suddenly a head popped out of the truck in front and shouted:
"Mr. Chen is here!"

After shouting, Chen Xiaobo got out of the car and ran over.

Chen Xuebing immediately hid the 20 yuan behind his back.

In the past two months, the truck fleet has been short more than 33 yuan. The little money he has is not even enough to pay this one company.

But people from all over the factory area had already flocked there, and several managers, including Chen Xiaobo, Zhang Dajiang, Tan Maoshui, and Zhao Fuhua, surrounded him.

Tan Hailiang, on the other hand, who had initially refused his invitation, now stood somewhat embarrassed in the distance, looking rather ashamed as he was working for him.

Some people saw the plastic bag in his hand behind his back and smiled broadly.

"Hey! Mr. Chen brought the money! Time to pay our salaries!"

Chen Xuebing was a little embarrassed. He pushed Chen Xiaobo aside, walked to the side, and shouted loudly to everyone:
"The money hasn't arrived yet! There's a problem with the paperwork at the labor service company, and my card is frozen! I borrowed 20 yuan to help everyone get by! I'm trying to unfreeze it now! Just wait a while, and I'll definitely pay you everything that's due!"

"what?!"

……

There's a saying among the people: If you have money, give money; if you don't, talk.

If you don't have money, you have to lower your stance.

"Mr. Chen, this can't be done like this! I've already made arrangements with the sand plant to settle the accounts in the next few days. You're only giving me 50,000 yuan, which isn't even enough to cover my fuel costs. How am I supposed to explain this?"

"I know, I know, brother, give me another month! By the end of next month! I guarantee I'll settle your accounts! There's another construction site, right? It's not like we're giving up business!"

"Mr. Chen, you asked me to help you manage the workers. These workers are not related to me at all; they are all locals, and it's not easy for them! The wages are over 300,000 yuan, but you only give me 80,000 yuan. How am I supposed to pay them?"

"Tsk, Lao Zhang, these difficulties are only temporary! You're an employee of our company, you should think about our company! Lao Tan, why don't you give Zhang Dajiang another ten thousand!"

"Ha, I've been owing my excavator fee for two months, it's 70,000 yuan. I have to pay the manager's salary, keep the excavator running, and cover expenses until the end of next month. Boss, do you think I'm a god? Why don't you find someone else!"

"Hey, hey, Lao Tan, don't go! Come here, come here, I have something to say to you."

"Don't panic, don't panic... I've left you 30,000..."

Chen Xuebing tackled them one by one, his mouth practically dry from talking.

In fact, he still had a full 500,000 yuan in his pocket. If he could just take out another 300,000 yuan, everyone would get a satisfactory result. He didn't need to mention the remaining small amount of debt; everyone would bear it themselves until the next progress payment arrived.

But Chen Xuebing has no connections in Gonghe Village. No one would let him owe money right away. It's a project that's entirely financed by him, so he can't get any progress payments. The more he owes here, the smoother things will go on the construction site over there.

He had set a goal when he arrived: to use the 200,000 yuan to finalize the deal for the Furong Village construction site and drag it out until the end of July.

After much persuasion and smiling, he finally relented and gave Tan Maoshui another 30,000 yuan.

Tan Hailiang watched from the sidelines, feeling a little uneasy.

Didn't Mr. Yu say he's rich now? How come he's so short of money?

Only after Chen Xuebing pulled him out of the construction site gate did he say with a worried expression:
"Mr. Chen, you don't even have any money. How am I supposed to repair the road for you?"

Chen Xuebing glanced at him and said, "Who said we don't have money? Come with me to the construction site in Gonghe Village tomorrow to organize the start of work! Don't worry, you won't owe a single penny! Just focus on the work!"

Tan Hailiang stared at Chen Xuebing for a long time.

"Tan Maoshui told me that you said the same thing to him when you first came to this construction site..."

Chen Xuebing's face twitched.

Did I say that?

He took a deep breath and gazed into the distance.

Since his rebirth, he has been doing business with leverage.

There's no way around it; with too little initial capital and no leverage, there's no way to make a profit.

Now they owe money to mobile phone manufacturers, their uncle, Furong Village, and even to Zhao Kaiping for the rent of his stall.

He wanted to borrow money from the bank, but his company was just starting out and hadn't even paid taxes for three months, so he couldn't get a loan.

Sigh, once the Huaqiangbei incident is over, he should reduce his leverage.

I really don't want to be in debt anymore.

Thinking it over, Chen Xuebing sighed softly:

"Furong Village is the last construction site where I owe money. I will never owe money again."

The words were spoken, and less than three seconds had passed.

A perfectly sunny day suddenly turned into a gathering of dark clouds.

It looks like thunder is about to rumble.

(End of this chapter)