Chen Pingsheng returned to the Magic City headquarters.
Because the negotiation for acquiring the top domestic lithium iron phosphate battery factory was nearing its end.
Once he fully owned this side, the assembly part of the new energy vehicles would all be transferred to Tengfei.
Only the professional battery production capacity and the battery R&D department would be retained.
The cost was 5.5 billion.
Taking over a battery factory that still faced a net loss of several small goals each month certainly brought immense pressure.
The buxom secretary Zhang Wanyi remained focused on cashing out the low-priced scattered shares of Bobo Milk Tea and Fei Yangyang.
After injecting 20 billion and over the course of more than a month,
the estimated cash-out was roughly 35 billion.
A net profit of 15 billion was mainly due to cashing out too early.
If they had waited a few more months, they could've earned an extra five or six billion at least.
Everyone, including the secretary Zhang Wanyi, felt it was a pity, but there was no choice since there was an urgent need for funds at that time.
This money had to be cashed out in advance.
Additionally, he had also spent 30 billion to buy back shares of Tengying Entertainment.
The average buyback price was around the market value level of 17 billion.
Now Tengying's share price had rebounded to 35 billion, and reaching 40 billion was only a matter of time.
If he dumped such a large amount of shares onto the stock market, the favorable situation might get hammered into a halt again.
The best way was to find someone to take over the shares.
Chen Pingsheng still contacted Tong Zelan, as her investment in Tengying Entertainment had already made her a fortune,
and she had become renowned in the capital market with that one battle.
Had it not been for the incident with the previous speech, Tengying's value would have risen to at least 50 billion by now.
Mainly because this year's financial report was too strong; just in the first half of the year, in Q1 and Q2, they managed to achieve a net profit increase of over 1.2 billion.
With the second half of the year included, the overall financial report for 2016 compared to the same period last year showed a pleasantly high growth rate.
It definitely had the potential to become the entertainment stock with the highest net profit in 2016.
Compared to others with over a hundred billion, it was only worth over 30 billion.
The future held definitely more substantial growth, and Zelan was well aware of this. If it weren't for the urgent acquisition of the battery factory,
Chen Pingsheng would not have considered selling these low-priced repurchased shares at this time.
One could say he was adept at making money, boldly repurchasing his own shares when the capital market was bearish,
and then selling them as the market improved, turning a pure profit of several tens of billions.
This was much higher than the original profits of the business.
To prevent affecting Tengying Entertainment's upward trend, and with its market value of over 30 billion still far from peaking,
Zelan teamed up with the four major capitalists in Magic City.
They agreed to invest 50 billion collectively to take over all of the shares he held.
50 billion was definitely far below the current share price.
This was normal, for if he had tried to cash out completely through the stock market,
it would not only bring down Tengying Entertainment's hard-earned share price,
but he would also run out of time.
Cashing out completely would take a long time.
Now, by selling at an 80% discount, he could cash out all at once without affecting Tengying Entertainment's share price,
which was quite a good result.
50 billion in, 85 billion out.
The return was quite satisfying.
After amassing the 85 billion, Chen Pingsheng officially instructed the negotiation team to sign the contract with Zhang Zhiyao's side.
And then held the news conference in Magic City for the full acquisition by Altma.
Magic City Calendar, June 8, 2016.
Finance journalist Meng Yuyu shouldered her backpack early in the morning and arrived at the headquarters of Tengying Group in Magic City.
For a company to own an expansive office building in Pudong New Area was undoubtedly an indication of significant achievements in either a specific field or multiple industries.
Even a single office building would cost at least one billion yuan, not to mention a super Grade-A office building with twenty-two stories.
The owner of Tengying Group was very secretive; to date, no media journalist had managed to interview him.
She did indeed want to, but it was a pity that even the central media journalists were turned away, let alone those from local media outlets.
The stance was clear: he had no desire to show his face in public.
This massive group, which had originally started by selling fruit, later ventured into high-end health and beauty, entertainment, milk tea, coffee, live streaming, hypermarkets, and many other areas, achieving considerable success.
Having now entered the new energy industry, they had completed the industry's biggest wholly-owned acquisition in a short period of time.
It could be said they were basking in glory.
All the listed companies under their flag also saw their stock prices soaring on the spot.
New energy vehicles were a key national project for the second industrial transformation, a field into which countless resources and efforts had been poured.
Tengying Group, an outsider to the industry, had invested over twenty billion yuan in real money in a short span of time.
They were definitely the biggest capital player amongst the current batch of automakers.
Whether they could succeed or not, nobody knew.
But judging by their manner, they seemed to adopt the mindset of succeeding or dying trying.
None of the companies had initially invested tens of billions in new energy vehicles.
Everyone was trying to save money wherever possible.
If something could be researched by others, they would use others' research.
If something could be outsourced, they wouldn't build it themselves. ᴜᴘᴅᴀᴛᴇ ꜰʀᴏᴍ novᴇlfire.net
No one else would make a real investment of several billion to enter the market group did.
The new energy market was unpredictable and chaotic.
With the entrance of such a player wielding hefty RMB investments, no one knew what the future held.
Meng Yuyu arrived fairly early, but there were plenty who arrived earlier than her.
After all, this was the biggest single wholly-owned acquisition in the new energy market thus far.
It was bound to attract attention.
Looking over at the three executives of Tengfei seated there, they were all well-known figures in the industry.
This was obviously more than just a simple acquisition.
It was also announced by Yan Donghui that Tengfei would invest an additional four billion yuan near Lingang to build their own Tengfei Ecological Industrial Park.
To put it more plainly, they planned to construct the Tengfei New Energy Automobile Industrial Park.
The main components would include three headquarters buildings, eight research and development centers, and a considerable number of employee dormitories.
Such an ecological industrial park was mainly meant to be used in conjunction with a super factory.
The super factory was responsible for the overall production, while the ecological industrial park was for headquarters operations and research and development.
With a forty billion yuan investment, at least twenty thousand people could work there simultaneously.
From construction to becoming operational, it would take about one to two years.
The actual timeline would depend on the speed of progress.
During this period, Tengfei would rent office space for headquarters use.
Meng Yuyu really didn't expect this.
They were going to directly invest another forty billion yuan to build their ecological industrial park.
Their lavish spending was truly indicative of an extremely wealthy enterprise.
One piece of heavy news followed another, and even Meng Yuyu couldn't comprehend how much Tengying Group was planning to invest in car manufacturing.
No wonder they hadn't brought in a single investor; with this kind of strategy, indeed, nobody would be willing to invest money in them.
Mainly because the burning through money was too fast.
So fast that even the capital market couldn't keep up.