The two sides talked for a long time in the small private room, and they were quite impressed with Zhang Junfeng, the young foreign director. It must be said that Zhang Junfeng really surprised them this time and provided them with another feasible overseas investment idea.
Zhang Junfeng saw that the current negotiation atmosphere was good, so he took advantage of the opportunity to talk to several people about Alibaba. He briefly introduced the operation model of Alibaba's online shopping platform and the online convenient payment tool he wanted to create and develop. Finally, he proposed to Wang Jun that if CITIC was interested, he could also invest in it. Perhaps in a few years, this kind of Internet shopping website will rise strongly and become a large enterprise that cannot be ignored. It can even drive his upstream and downstream industries, such as upstream suppliers and processing plants, and downstream express delivery companies.
Moreover, the number of Internet users in Long Country has increased in the past two years, which means that the potential online shopping market and users are also growing. As long as they can continue to tap into it, the potential and value of the online shopping platform is likely to reach or even surpass Amazon, which once had a market value of more than 100 billion US dollars~!
…
More than 20 minutes later, the people who had finished their conversation in the private room returned to the banquet hall next door, as if the previous negotiations had never taken place.
However, as a participant, Zhang Junfeng was somewhat excited. The bigwigs were very interested in the Alibaba company he mentioned earlier and even the convenient payment tool. Wang Jun, the president of CITIC Group, also said that he would arrange investment and shareholding in the future. He also wanted to see to what extent the Internet companies that Zhang Junfeng was so optimistic about could grow.
With the participation of CITIC Group, the future development of Alibaba will surely be much smoother than in the past. Maybe it can even create a fashion trend of online shopping several years earlier than in the past, such as "6.18" and "11.11", which are carnival festivals exclusively for online shopping, and promote them in advance~!
——————Dividing line——————
As time went by, it was soon late February 2003, and Mr. Wu Xuan, who won the election, was sworn in at a ceremony in front of the National Assembly Building in Yeouido.
However, Wu Xuan, who had not even warmed up to his position, quickly started a massive investigation. In particular, he brought up the Gangnam private club incident that had caused quite a stir before and ordered the Supreme Prosecutor's Office to arrange personnel to conduct an investigation, targeting Choi Tae-won of SK Group and Shin Dong-bing of Yuetian Group.
This sudden investigation quickly caused a huge uproar. You know, SK Group and Yuetian Group are now the top five large companies and chaebols in China. Wu Xuan immediately targeted these two companies. This clearly showed that he had no scruples at all and wanted to show his power to these chaebols in China!
However, both the Five Star Group and the Galaxy Group acted quite calmly, seemingly unaware that this special investigation from the Blue House would have any impact on them, nor did they make any move to support the SK Group or the Yuetian Group.
In the following period, prosecutors frequently summoned Choi Tae-won and Shin Dong-bing, which led to many explosive news spreading like wildfire. Zhang Junfeng saw that the time was ripe, so he asked Comet Capital and the traders of the Gaosheng Group branch to frantically short the stocks of SK Group and a number of core subsidiaries of Yuetian Group. This also caused the stock price of SK Group to plummet in a short period of time, causing a headache for Choi Tae-won, who was once so arrogant.
As for Yuetian Group, although the group chairman Xing Gehao was trying hard to support it, the stock price barely avoided a sharp drop, but Xin Dongbing, who had a lot of troubles, was soon found to have a new "flaw".
After careful investigation by Kim Jong-min and others, they soon discovered that Shin Dong-bing seemed to have set up a second private club. According to the explanation of several of Shin Dong-bing's subordinates, they had already initially grasped the specific location of this club, but the location was set up on a yacht. If they wanted to catch him red-handed, they had to go to the sea at a specific time. This operation was quite difficult.
…
Lu Suying also seized the opportunity and took the initiative to step forward when SK Group was leaderless, wanting to manage SK Group with the special identity of the wife of the chairman of SK Group. Although Cui Taiyuan, who was detained for questioning, was dissatisfied, he could only choose to accept this method for now. After all, except for Lu Suying, who was nominally married to him, other people in the group were even more unreliable. If he hadn't suppressed them as the chairman, the little tricks those guys did behind the scenes would definitely not be small.
After Mr. Wu Xuan learned about the progress of the Supreme Prosecutor's Office, he was very annoyed with Shin Dong Bing, the hateful chaebol member and the senior leaders of the big enterprises. He even issued the latest instructions, asking the prosecutors of the Supreme Prosecutor's Office to go all out and catch the mobile private club on the yacht. He wanted to see how Shin Dong Bing could deny it when he was caught red-handed! Mr. Wu Xuan wanted to take this opportunity to dampen the spirit and reputation of SK Group and Yuetian Group. Only in this way could he promote other policies and systems in an orderly manner during his next term without opposition from the representatives of the big enterprises. According to his idea, these increasingly unscrupulous chaebols should severely weaken their power. Only in this way can it be in line with his original intention of "upholding justice".
…
However, he obviously underestimated the foundation and strength of the two major companies, SK Group and Yuetian Group. They quickly hired the top elite lawyers in Goryeo to defend them, and seized the loopholes in the evidence held by the other party and continuously expanded them to make the evidence insufficient, so that Choi Tae-won and Shin Dong-bing could get away with it.
However, with the successful seizure of the private club on the yacht, with many witnesses and physical evidence, Shin Dong-byeong became the first chaebol member with proven guilt after Mr. Wu Xuan came to power, and prosecutors quickly filed a lawsuit against him according to the procedures. Upon learning that his second son was still stubborn and had done such a dirty thing behind his back, Shin Gehao was almost so angry that he had a stroke and was hospitalized on the spot. As the vice president of the group, Shin Dong-joo seemed to have become the biggest "winner" after the incident, which also laid the foundation for him to successfully take over the Yuetian Group.
But what Xin Dongzhu never expected was that he was obviously too happy too early. How could Comet Capital, which had been suppressing the stock prices of a number of listed companies under Yuetian Group, do this for nothing? It was just that it had not yet obtained enough low-priced shares and was still accumulating strength!
In the end, Choi Tae-won of SK Group and Shin Dong-bing of Yuetian Group were sentenced to several years in prison by the court due to the solid evidence. Although Choi Tae-won was dissatisfied, he could not resist the prosecutors' too much dirty information, especially in the later period, many secrets of financial fraud and misappropriation of public funds within SK Group were exposed, and the spearhead was directly pointed at Choi Tae-won, the chairman of the group.
As the chairman's wife, Noh Su-young also took the opportunity to become the temporary head of the group, giving her enough time to gradually transfer SK Group's assets and seize the management rights of some core industries.
On the Yuetian Group side, Shin Dongbing was completely abandoned. The furious Shin Gehao finally made a statement to sever the father-son relationship, hoping to completely cut off ties with the other party. However, this move also stimulated Shin Dongbing, and he finally confessed to the prosecutors some of the dirty things that Yuetian Group had done in the past few years. Even Kim Jong-min, a senior prosecutor with extraordinary insight, was shocked.
In the end, Xing Gehao was also summoned and questioned, but his attitude was obviously much worse. Xing Gehao denied all the prosecutors' accusations, and even said shamelessly that their Yuetian Group paid a huge amount of taxes every year and sent big gift packages to all the presidents. If they really made trouble for him, he would have the courage to tell them everything! ...
After nearly a month of operations and secret contacts, Comet Capital took advantage of the situation to obtain the majority of shares and shareholders' support of SK Group and several subsidiaries of Yuetian Group, and brazenly launched an extraordinary shareholders' meeting to fight for the company's operating rights.
The SK Group and Yuetian Group, which were caught off guard and in a desperate situation, were completely unable to resist. Eventually, Comet Capital took advantage of the situation and snatched away many of their core subsidiaries. The group was hit hard and became sluggish in a short period of time.
…
Nexon Entertainment, a subsidiary of Galaxy Group, has abundant funds and has acquired many excellent game development companies in the past few years. After integrating resources and expanding the R&D team, it has developed a number of highly playable new games such as "MapleStory", "MU Miracle", and "Dungeon & Fighter".
After its release, it quickly caused a huge response in the Korean and Longguo markets. In just one week, the number of registered users successfully exceeded 5 million and the number of daily active players has remained at an astonishing number of around 3 million. Such a huge positive factor boosted the stock price of Daum, which had once fallen to the bottom, and it has seen a significant increase in a short period of time.
On the other hand, Penguin Entertainment in Longguo has become the new overlord occupying one-third of Longguo's game market because of its three excellent new games. Even Shanda Entertainment, which has obtained the agency rights for "Legend", is no match for them.
NetEase, which also made adjustments and devoted part of its energy to the Internet gaming sector, achieved good results with "Fantasy Westward Journey Online" and then launched "Westward Journey Online II", which attracted many game players.
Kingsoft Software, which relies on free antivirus software and bundled installation of other software, has seized market share in the past two years and turned the lucrative antivirus software market into a free industry. Many antivirus software companies have either closed down or changed their business, and they are simply unable to fight this kind of "rogue" to the end. The main reason is that the tricks used by Kingsoft Software are too dirty!
They worked so hard to develop anti-virus software, but they couldn't make a dime. How could they have the motivation to continue? They wanted to learn from Kingsoft Software Company to launch a combination of attacks, but they found that the other company had already blossomed in all aspects and seized a large market share in browsers, computer managers and other installation software. What could they use to compete with them? The right thing to do is to run away as soon as possible. The longer you fight with them, the more you will lose~!
…
In the overseas market, although many Internet technology companies failed to survive the Internet crisis in the past two years, there are also many real technology companies that have successfully survived this difficult time. Qualcomm, whose market value once soared dozens of times and once exceeded 100 billion US dollars, has seen its stock price steadily recover under the support of its continued growth in good company performance. Under the leadership of CEO Steve Jobs, Apple's iPod portable music player launched in 2001 led the digital music revolution, and its stock price has steadily risen. Recently, Steve Jobs has received a lot of inspiration and plans to develop a new smartphone to create an epoch-making product, which will establish the influence and huge value of Apple in one fell swoop! The annual assessment meeting within Lehman Brothers finally found that Peter Fuld's large investment had suffered huge losses. In particular, the many large investments in Korea, except for the smaller loss of the loan transaction with Hyundai Group, all other investments have suffered large losses to varying degrees.
Especially the investment in the Jeju Island tourism project in Goryeo. After the professional analysts and accountants in the group recalculated, they found that the loss would be at least 30% of the principal. The senior executives of Lehman Brothers were very annoyed with Peter Fuld, a traitor! Even for Dick Fuld's sake, they made the decision to fire Peter Fuld.
Although Dick Fuld wanted to fight for his disappointing nephew, his colleagues flatly refused. Seeing Dick Fuld unwilling to give in, they bluntly said that they did not hold Peter Fuld responsible and asked him to compensate for such a huge loss. This was already a leniency given to him because of his huge contributions to the group. They hoped that Dick Fuld would stop while he was ahead and not be ungrateful.
Dick Fuld was also very angry about such hurtful words. If he had not given advice to Lehman Brothers over the years and outlined one brilliant investment project after another, Lehman Brothers would have been squeezed into a corner by other competitors long ago. It is still unknown whether it could survive until today~!
Dick Fuld, who was thoughtful, quickly adjusted his strategy. Since the senior executives of Lehman Brothers were ungrateful and didn't give him any face, he didn't continue to seek benefits for them. It was time to think about himself. He put the high-leverage investment project that had many problems on the agenda just to make huge profits for himself. As for any adverse effects on Lehman Brothers, it had little to do with him.
…
In June 2005, after more than four years of construction, the Disneyland Resort in the Dragon Kingdom was officially completed and opened to the public in August of the same year. Due to the underdeveloped bus routes in the surrounding area and the fact that the subway line had not been completely completed, Disney also arranged more than ten buses at its own expense as the main means of transportation for tourists, which received unanimous praise from tourists who came to visit.
The largest Disney resort has achieved amazing results! Every day, the resort receives more than 50,000 visitors, and on weekends, the number of visitors is close to 100,000! Such a bustling scene makes the Shanghai government and real estate companies very jealous.
If we could open supporting tourist resort facilities around Disney or even a commercial district nearby, how much profit would we be able to share!
Unfortunately, most of the areas around Disney were taken by Tianfu Real Estate Company as reserve land for subsequent expansion when they were demolishing and clearing land several years ago. Even if they want to take advantage of the Disney tourist resort, they can only build some in a farther place. However, the distance is too far, and the surrounding public transportation facilities cannot keep up, so how can they get any benefits?
…
In May 2007, after several years of research and development, Apple released the iPhone smartphone, which shocked the entire mobile phone industry! The iPhone changed people's concept of traditional mobile phones, and its many new features also captured the love of many young people. Apple's market value also broke through to 42 billion US dollars due to the popularity of the iPhone, becoming one of the important representatives of the resurgence of Internet technology companies.
Zhang Junfeng also started to make preparations in advance at the end of May. He cashed out Comet Capital's many overseas industries and recovered funds. He mortgaged the listed companies he held to financial institutions such as Citibank, which he did not have much cooperation with, for a mortgage loan. He then continued to buy physical gold with large amounts of funds.
This abnormal behavior also puzzled Matto Walls of Goldman Sachs and Nacho Morgan of JPMorgan Chase. In their opinion, even though gold has a small increase every year, the strength of the increase is obviously not comparable to the increase in the stock prices of the listed companies they invest in!
Zhang Junfeng also reminded the other party in a timely manner that in recent years, banks have lent a large number of loans to people with poor repayment ability. These loans are called subprime loans. Since these borrowers have low credit ratings, heavy debts, or a history of default, the loan risk is very high. In addition, the bank's adjustment of loan interest rates and asset securitization operations have made the risk of subprime loans extremely high. He converted a large amount of assets into real estate such as gold, which can gain great risk resistance.
After learning about Zhang Junfeng's intentions, Mato Walls and Nacho Morgan quickly took action, packaging and selling off many of the group's high-risk investment projects. They then followed Zhang Junfeng's example and purchased some gold to adjust the group's investment industries.
There is no mistake in the poem, post, content, and read the book on 6, 9, and bar!
However, Matto Wallace's unusual behavior caused many senior executives of Goldman Sachs to talk about it. They felt that their president's behavior was somewhat unwise. However, although they had some complaints, they could not change any results.
In April 2007, the bankruptcy of New Century Financial Corporation, the second largest subprime mortgage company in the United States, exposed the risks of subprime mortgage bonds.
Starting in August 2007, the Federal Reserve responded by injecting liquidity into the financial system to increase market confidence, and the U.S. stock market was able to maintain a high level. However, as more and more borrowers defaulted, the U.S. market's confidence in mortgage securities began to waver, trust between financial institutions also collapsed, and a liquidity crisis began to emerge.
However, in August 2008, the share prices of Fannie Mae and Freddie Mac, two mortgage giants in the United States, plummeted, and financial institutions holding bonds of the two housing agencies suffered large losses. The U.S. Treasury Department and the Federal Reserve were forced to take over the two housing agencies to show the government's determination to deal with the crisis.
On September 15, 2008, the US government refused to rescue Lehman Brothers, which led to a violent turmoil in global financial markets and a stock market crash. Many financial institutions and companies went bankrupt or faced the threat of bankruptcy. The credit market froze, and banks and other financial institutions could not obtain sufficient funds and could not continue to operate.
At the same time, the collapse of Lehman Brothers triggered a violent shock in the global financial market, and many other financial institutions also began to have problems. This financial crisis not only affected the financial market, but also led to a global economic recession. The economies of many countries fell into recession and unemployment rates rose. Although governments and central banks took measures to stabilize the market, the impact of the crisis was far-reaching and lasting.
…
Comet Capital, Goldman Sachs and JPMorgan Chase, which acted in advance and made accurate predictions, suffered minimal losses in the subprime mortgage crisis that swept the world. They also gained a holding income increase of more than 24% on gold because they bet on gold in advance! Comet Capital, which is managed by Zhang Junfeng, also successfully hedged and made profits because of this operation. It not only preserved the huge assets accumulated by Comet Capital over the years, but also once reached an asset scale of 80 billion US dollars, with a cash flow of more than 40 billion US dollars. In line with the principle of keeping a low profile so as not to attract some unscrupulous people, Zhang Junfeng did not mention to anyone how much financial resources Comet Capital has now.
…
Goryeo Seoul, the five-star Lee family residence.
Zhang Junfeng, Li Jianxi and Li Zairong, father and son, sat on chairs in the garden, watching with interest the girls teasing the children, and they were in a very good mood.
"...Watching each of you get married and start your own career, and now that your children are growing up, I feel like I can retire early, step down and enjoy life~!" The speaker is the 66-year-old Li Jianxi. After observing his son Li Jae-yong for several years, he feels that his son's ability is good enough to be the chairman of the group.
Zhang Junfeng smiled and joked, "That depends on whether my father-in-law is willing to give up the power in his hands?"
"What's there to be reluctant about? I've worked hard all my life, and in the end I can't just leave all those troublesome things to this kid Zhai Rong. I'm going to enjoy myself~!" Li Jianxi said with some dissatisfaction.
As the global subprime mortgage crisis unfolds, these domestic companies have begun to "fall into decline" one after another. It will probably take a lot of effort to revive them.
When Li Jae-yong heard Li Jianxi's words that he obviously wanted to "quit", he felt very complicated. Originally, he was willing to take over in advance. But now the reason for taking over in advance is that the current situation of the group is not good, and the overall environment is not good. It is obviously not an easy job to manage this "mess"!
Li Zairong then looked at Zhang Junfeng, wanting to see if his brother-in-law could provide some help. After all, with Comet Capital's ability, if they were willing to help, then the difficulty of leading the Five Star Group to revive would naturally be reduced. However, Zhang Junfeng did not care about Li Zairong's "little tricks" and did not express anything, which made Li Zairong a little undecided for a while.
Fortunately, Li Zairong did not hesitate for too long. He would not easily miss the opportunity to take power. Before Li Jianxi asked again, he made the decision very sincerely.
Seeing that he could retire early and become a hands-off boss, Li Jianxi laughed out loud. However, Zhang Junfeng on the side seemed to have anticipated this. He shouted to a few children who were playing, and the children came running over happily.
Zhang Junfeng encouraged them with a smile, "Just now your grandpa said in person that he is going to retire, so he will have more time to play with you guys in the future~!"
Hearing what Zhang Junfeng said, several children quickly surrounded Li Jianxi, who had not yet reacted, and asked the old man to play with them. Li Jianxi realized that he had been tricked by Zhang Junfeng and wanted to make trouble for him, but found that he had no chance at all~!
…
"...Junfeng, aren't you afraid that your father will give you trouble later if you do this?" Li Zairong, who was standing by, saw Li Jianxi being dragged away to play by several children, and asked with a sly smile.
"What's there to be afraid of? The worst that can happen is that Fuzhen can have another child, and then there will be one more child calling him grandpa~! Brother Zhai Rong, you should also work harder and have two more children with your sister-in-law. By the time there are so many children, your father-in-law will be too busy helping to take care of them, so how will he have time to think about other things?" Zhang Junfeng grinned.
This is a complete "open plot". If the elderly want to retire, then there is no problem. It's just that these young people have a lot of things to do, so it is reasonable to ask the elderly to help take care of the children! It can also make the relationship between children and elders more harmonious and intimate, so why not do it?
After hearing Zhang Junfeng's analysis, Li Zairong was eager to try. He only has one child now, which seems a little short! How about going back and trying harder with his wife Jin Shiling?
However, Zhang Junfeng's success did not last long, as Li Jianxi used a similar method to take off his clothes and play with the children. When the sun gradually set, when the old lady Hong Luoxi came over and everyone went back to the villa for dinner, Zhang Junfeng held a child in each hand and followed Li Jianxi and Li Zairong to the villa not far away with a smile.
…
Under the setting sun, the backs of adults and children were stretched out. It might be a rare warm moment for the chaebol~! (End of this chapter)