With the private equity fund subscription contracts signed, there was no reason to delay the funds any further. By the afternoon of the same day, all 34 subscriptions—totaling $68 million, along with $1.36 million in management fees—were transferred into the account.
Lu Liang himself subscribed to 16 shares, contributing $32 million and $640,000 in management fees. With this, the $100 million target was met, and the fundraising period concluded within a single day.
The next day, he went to meet Liu Changqing at the Industrial and Commercial Bank of China (ICBC). Using the $100 million deposit, he obtained a loan of 636 million RMB.
When the corporate account for Tianxing Asset Management was originally set up at ICBC, a dual-currency private equity fund contract had been signed. Under the terms, any dollars deposited at ICBC would entitle the company to an equivalent amount of RMB at no interest.
On the surface, ICBC seemed to be taking a loss, but in reality, the four major commercial banks all offered a service called "foreign exchange loans."
For example, some companies importing equipment might need foreign currency because international suppliers won’t accept RMB. If those companies lacked foreign exchange reserves, they would turn to the bank for a loan.
However, foreign exchange management in China was tightly regulated. Even ICBC’s Magic City branch had strict annual limits on how much foreign currency it could request.
With Lu Liang’s $100 million deposit under Liu Changqing’s management, the branch head practically wanted to roll out the red carpet for him. A tiny processing fee was hardly a concern.
Lu Liang reminded him sternly, “Director Liu, just because our company doesn’t need USD right now doesn’t mean we won’t need it in the future. I don’t want any delays or bureaucratic hurdles when the time comes.”
With a smile tugging at the corners of his mouth, Lu Liang walked over, patted Meng’s belly, and sat down beside him. “What brings you here with so much time on your hands today?”
“I’ve been waiting for you to finish up. All done?” Meng asked, instantly sitting up with surprising agility for someone his size.
Lu Liang nodded, and Meng called over his assistant, Liu Jun, who handed him a stack of documents. “Take a look. Who should we keep?”
Lu Liang had previously stated that he would only focus on making money, leaving company affairs, including staffing decisions, entirely to Meng.
However, Meng knew not to overstep his authority. While Lu Liang might not actively monitor such matters, Meng ensured that he brought them to Lu’s attention as a sign of respect.
Flipping through the documents, Lu Liang saw that there were 28 candidates, all transferred from Kunqian Trading. They were basic-level employees, including receptionists, administrative staff, security personnel, and legal professionals, with two or three people allocated to each department. However, there was no one assigned to handle financial audits.
Lu Liang chuckled, appreciating Meng’s sense of boundaries. After some thought, he said, “Let Tang take on the role of financial director as well.”
Meng smiled. “I was thinking the same thing.”
The two exchanged a knowing glance, their unspoken understanding clear.
As for Xiao Wang, Lu Liang figured his only real skill was enthusiastically shouting, “666!” (a slang phrase for “awesome” in China).
That evening, Lu Liang received the background reports from a third-party service regarding the two experienced candidates. The evaluations described both as mediocre but honest and diligent.
Although they had participated in numerous projects over their more than ten years in the industry, neither had ever taken the lead. Their names typically appeared near the end of project lists, suggesting that they had mainly played Enjoy reading on NovelHub - your free online novel platform.
For Lu Liang, they were perfect. Competent but not overly ambitious, these were exactly the kind of people he needed. He instructed Wen Chao to send them offers immediately.
The next morning, the two experienced professionals and four new hires completed their onboarding, with the first document they signed being a confidentiality agreement.
The two veterans, having signed countless such agreements in the past, were called in for one-on-one conversations with Lu Liang. They were made aware of their primary role: mentoring the new hires.
Eager to assist, the two veterans enthusiastically began explaining the work to the newcomers.
On the first morning, Lu Liang did not assign any actual trades. Instead, he had them log into a simulated trading system to familiarize themselves with the equipment and work environment.
After lunch, everyone surrendered their communication devices and passed through the security gate to enter the trading room. Only then did Lu Liang brief them on the plan.
The six individuals were divided into two teams of three, each team comprising one veteran and two newcomers. Each team was assigned 12 trading accounts and tasked with building positions in six target stocks at their price floors.
Sitting at the main control desk, Lu Liang monitored each account and issued commands:
“BYD has the largest market cap and excellent stock liquidity. You can buy slightly more of that.”
“LeTV's stock behavior is abnormal. Stop buying and redirect funds to SAIC, Yutong, and Zhongtong.”
With the help of the team, they managed to accumulate 67 million RMB in stocks within just one afternoon.
This was on a low-volume Thursday. If it had been a busier day like Monday or Tuesday, they could have easily acquired over 100 million RMB in stocks.
Among the six stocks, BYD, with a market cap of 155 billion RMB, contributed the most, with 18.5 million RMB worth of shares purchased.
The remaining five stocks accounted for a combined total of 48.5 million RMB.
Their total holdings now stood at 115 million RMB.
Lu Liang paused, considering the situation. Six stocks still felt a bit limiting—they wouldn’t be able to absorb over 600 million RMB in funds.
He shifted his focus from vehicle manufacturers to downstream suppliers, specifically those dealing in batteries and motors, the most critical components of electric vehicles.
Five new stocks caught his attention: EVE Energy, Tianqi Lithium, Fangzheng Electric, Ganfeng Lithium, and Do-Fluoride Chemicals.
He added these five stocks to the reserve list, ready to pivot to them as soon as the initial six stocks became saturated.