Tengying Entertainment was set to sell 10% of its shares for six billion.
Just as the vice president of Penguin was preparing to bargain with them and even wanted to press for a lower price,
the president of Alibaba's major entertainment division had already hurried over to make contact.
Seriously speaking, Penguin and Alibaba had been evenly matched over the past two years.
Each was a king in its own right.
Baidu, which belonged to the same league, had its stock price collapse this year due to the Wei Zexi incident,
and was no longer in the same category.
Bringing in Penguin as a strategic partner for Tengying Entertainment was a strategic goal, and Alibaba didn't seem quite as necessary.
It was said that after Alibaba made contact with Tengying Entertainment, Penguin reported overnight to Old Ma.
The very next day, he rushed to Magic City to sign the agreement.
Six billion was really just a drop in the bucket for these internet giants.
Chen Pingsheng didn't bother playing both sides, and straightforwardly declined Alibaba.
He introduced Penguin as the strategic partner for Tengying Entertainment.
As soon as the news broke, the entertainment industry was the first to blow up.
This was definitely the biggest stock transfer in the circle and fully reflected Tengying Entertainment's unparalleled influence.
Three years had passed, and Tengying had truly grown into an entertainment behemoth.
It was not only flowering in the sectors of movies and television dramas,
but had also become the hottest entertainment group for top-tier artists.
Its unique artist signing and partnership model had received unanimous praise from the industry.
Now it was selling 10% of its shares for an astronomical price of six billion.
The buyer being Penguin only proved that Tengying Entertainment's market value of over fifty billion was still far from its peak.
The happiest about this deal being completed had to be Tong Zelan and her colleagues.
After all, she had taken about 18% of Tengying Entertainment's scattered shares from his hands at a cost of fifty billion.
Now, these shares were already worth a hundred billion.
Who wouldn't be happy about their value doubling in just one month?
Chen Pingsheng had nothing to regret either, mainly because he really was in need of money at that time.
When cash-strapped, assets are definitely sold at a discount.
With this sixty billion in funds, taxes still had to be paid.
If it were personal shareholding, the standard for tax payment would be 20% of the gain after subtracting the original investment and expenses from the transfer price.
He held his shares through Tenghui Capital, so the annual corporate income tax was 25%.
It wasn't a quarter of the total amount, but rather 25% of the profit.
There were many reasonable ways for a company to avoid taxes, and the most sensible was naturally to spend all the money.
Buying cars and houses was an option.
Chen Pingsheng allocated thirty billion to Tengfei New Energy, specifically to form a research and development team for motors and electronic control systems.
He now owned an all-in-one super factory, Tengfei Eco-Park, and the country's largest lithium battery research facility.
It could be said that in the new energy sector, the only thing missing was autonomous driving technology.
Currently, he was still recruiting teams in this area, and starting research and development from scratch would be too late.
Abroad, artificial intelligence had already easily defeated world champions in Go.
The best way for him to catch up in the autonomous driving field was to directly buy AI artificial intelligence technology from abroad.
To buy patent technology, a high price was necessary.
Chen Pingsheng had Old Yan's team contact international sources to see if there were AI artificial intelligence teams or technologies for sale.
If we're talking about the best domestic technology in this area, it would definitely be Baidu's.
Unfortunately, Baidu's core technology was not for sale, and he couldn't afford it anyway.
Autonomous driving was definitely the key core technology for new energy vehicles in the next five or ten years.
Chen Pingsheng also planned to invest tens of billions each year in research.
Technology was indeed a bottomless pit; no wonder the big domestic companies preferred assembly. It hadn't been long since he started,
and he had already spent over a hundred billion on technology research and development or team recruitment.
In the coming years, at least another four hundred billion would need to be invested.
It wasn't that spending money guaranteed the mastery of core technologies, but without spending, mastery was absolutely impossible.
Chen Pingsheng then allocated another twenty-five billion for intensified battery research and development.
This was an area where either there was no breakthrough, or once there was one, the future value would be staggering.
This was definitely an example of heavy investment.
There were presidents specifically in charge of the technology sectors, and he didn't need to manage them. ᴛʜɪs ᴄʜᴀᴘᴛᴇʀ ɪs ᴜᴘᴅᴀᴛᴇ ʙʏ novel⁂fire.net
His job was to keep funneling money into this before the research results came out.
Thinking of the success meant he was in pain yet happy.
With a few minor goals left, Chen Pingsheng didn't even know how to spend the money.
He simply boosted the spirits of the group's executives by offering each of them a Range Rover Autobiography LWB.
He also bought himself a wine red one.
The money spent on cars could be used for tax deductions, and he acquired almost thirty-five units at once,
which came to about one billion after discounts.
The reason Chen Pingsheng gave was that the group had performed very well in its core business this year and hoped they would continue to work hard.
Before you knew it, it was almost late July, and Yang Qian's best friend, who was also his classmate, was officially hosting the '97 junior high school reunion in Magic City.
Truth be told, reunions generally start from high school or college.
Having a junior high school reunion like theirs was indeed rare.
The main reason was that Chen Pingsheng had only graduated from junior high school.
Chang Fu was similar; among the four of them, only Zhang Tao had attended a technical secondary school for a year.
Gao Hu went to learn cooking right after junior high, so how could they hold a high school reunion!