Reborn Xiangjiang as a Tycoon

Chapter 195 Yum Fund

In the afternoon, Lin Baicheng came to Yum Securities.

The Hutchison Whampoa stocks bought with HK$100 million raised from companies such as Galaxy Games were all sold in the morning. Although they started selling after the stock price exceeded HK$20, because the stock price rose relatively quickly later,

Therefore, the average selling price was HK$24, and 27.8 million shares were sold for a total of HK$667.2 million. After deducting handling fees, the total was approximately HK$667 million.

Generally speaking, there is no need to pay taxes on stock trading and futures trading, you only need to pay a certain handling fee.

However, once you make money through the stock and futures markets, you must pay profits tax, just like a company's profits, and the tax paid on financial investment is higher than the tax paid on normal business operations.

Be higher.

Here in Xiangjiang, the income tax paid on financial investment profits is 10%. Although it is not a lot, it is much less than that in the United States.

In other words, this time the stock transaction was sold for a total of HK$667 million, the cost was HK$100 million, the profit was HK$567 million, the tax was HK$56.7 million, and the final profit was HK$510.3 million.

However, it is true that there is so much tax to be paid, but the tax will not be paid immediately. The 56.7 million Hong Kong dollars in tax that needs to be paid will be left with Yum Securities to continue operations, and the tax will be filed together at the end of the year.

As for the 510.3 million Hong Kong dollars that can be freely used, it is distributed to companies such as Galaxy Games. Star Cinema is allocated 150 million Hong Kong dollars, Jupiter Toys is allocated 20 million Hong Kong dollars, Asia Television is allocated 50 million Hong Kong dollars, and the rest is allocated to Galaxy Games.

The company goes.

Star Cinema’s 150 million Hong Kong dollars is enough to build a cinema chain all over Hong Kong. This is because Star Cinema’s cinema is a multi-screen cinema with many screens and the cinema area will be larger than other cinemas. Otherwise, a cinema chain would not be able to do so now.

You don't have to spend so much money.

The shares repurchased by Hutchison Whampoa were also sold, with 17 million shares sold for a total of HK$410 million, a profit of HK$310 million, and 10 million shares placed in the company. However, the tax here will not be paid until the end of the year.

The company's investment for the year will be deducted. If after calculation it is found that this year's profit is only HK$100 million or HK$200 million, then only this part of the profit needs to be paid tax.

With the 410 million Hong Kong dollars recovered by Hutchison Whampoa, Lin Baicheng asked Wei Li to invest in the real estate industry and retail industry. These are asset-heavy investments, and Lin Baicheng also specifically asked Wei Li not to sell the real estate invested, that is, he would only invest in the real estate industry for the time being.

If you rent rather than sell, the profit will be limited. The company won't make much money that year, so it naturally won't have to pay too much tax.

When he came to Yum Securities this time, in addition to approving the transfer of more than HK$600 million in stock trading costs and profits, Lin Baicheng also wanted to know about the establishment of a fund.

During the two days of the weekend, Anyuan had already found out more about it.

Before his rebirth, Lin Baicheng also bought funds for two years. Although he didn't make much money, he still knew some of the limitations of funds at that time.

First of all, fund types are divided into mutual funds, hedge funds, and futures investment funds. Different types of funds have investment scope restrictions. To be more specific, taking mutual funds as an example, they can be subdivided into stock funds, bond funds, mixed funds, and currency funds.

Four types, relatively conservative and stable in operation.

Take the most familiar stock fund as an example. When raising funds, you cannot advertise in the media. In terms of operation, you can only choose to buy stocks. The funds purchased for each stock cannot exceed the upper limit of 10% of the total funds of the fund.

What specific restrictions there are, Lin Baicheng, a layman, cannot know.

But what Anyuan told Lin Baicheng was that there were almost no restrictions on Xiangjiang Funds in this era. In terms of fundraising, funds could not be raised through TV stations, radios, etc., but they could be published in no more than three newspapers to raise funds from outside.

In terms of operation, the fund can operate however it wants, including buying stocks and futures. The only restriction is that more than 50% of the funds cannot be used to purchase companies in which the fund controller holds more than 30% of the shares. This is mainly to avoid fund control.

Man seeks his own benefit.

Taking Lin Baicheng as an example, in the future, for any company where Lin Baicheng holds more than 30% of the shares, the funds that the fund can use to buy cannot exceed 50% of the total funds of the fund, and Hutchison Whampoa is included among them.

It can be said that there are very few restrictions on funds nowadays, at least in Xiangjiang.

"Anyuan, you ask someone to go to the Hong Kong government to register and establish a Yum Fund, and then announce the fundraiser in three newspapers: South China Morning Post, Hong Kong Economic Times and Oriental Daily. The fundraiser will take half a month."

The three newspapers chosen by Lin Baicheng were not chosen randomly. Among them, the South China Morning Post is an English newspaper, the Xiangjiang Economic Daily, as you can tell by its name, is an economic-related newspaper, and the Oriental Daily is for the general public, basically including all the newspapers.

All levels are covered.

Anyuan asked aloud: "Mr. Lin, how much money do we need to raise in total? How many shares can we buy at most? What is the minimum unit of capital?"

"There is no upper limit on the total amount of funds raised. It is calculated as one share of 1,000 Hong Kong dollars. At least one share must be purchased, which is 1,000 Hong Kong dollars. At most, it does not exceed 100 million Hong Kong dollars."

With that said, Lin Baicheng continued: "The funds raised have a one-year closing period. During this year, they cannot be redeemed, regardless of whether the fund is losing money or making a profit. In terms of expenses, there is a management fee of 5% of the principal every year.

If the profit is less than 30%, only 5% management fee will be charged; if the profit is 30%

If the profit is between 50% and 50%, plus management fees, a 15% fee will be charged; if the profit is between 50% and 100%, a 30% total fee will be charged; if the profit exceeds 100%, a 15% fee will be charged.

If you charge 50% of the profit, the maximum ratio is half per person.”

Although the foundation of the fund is mainly to maintain personal relationships, Lin Baicheng is not prepared to work in vain. The bottom line he can accept is a half share ratio per person.

"Mr. Lin, the management fees of other funds are only 3%."

Anyuan couldn't help but remind him.

"Just keep 5% unchanged. Sometimes choice is very important."

Lin Baicheng smiled. If someone is willing to spend 2% more management fees, then he can guarantee that the other party will not lose money and will only make money.

"You go ahead and do this. Set up a fund first, and then raise funds from outside. You can raise as much as you can in half a month. There is no need to force it."

"Okay, Mr. Lin."

Lin Baicheng had already said this, so Anyuan naturally said nothing more.

In fact, Lin Baicheng knew very well that the funds that the fund could raise at the beginning were limited. After all, although he made hundreds of millions of Hong Kong dollars for Hutchison Whampoa in just a few months, there was only one such example. Due to his age, many

People still don't trust him that much, and even if they are willing to spend money to buy a fund, they won't spend too much money.

Therefore, it doesn't matter how much money is raised at the beginning. As long as Lin Baicheng uses one or two years or more to make the fund achieve a huge rate of return, there won't be enough people who are not afraid of being tempted.

(End of chapter)