Wait until the entertainment industry ceremony is over.
Chen Pingsheng still met many old acquaintances, such as Yang Mi, Liu Yifei and others.
Another example is Zhao Liying, Shishi and others.
The entertainment industry, which was so popular in the past, has now been beaten to the point of being powerless by short videos and short dramas.
He shook his head and didn't think any more about it.
The days passed slowly and it was mid-October in the blink of an eye.
He was drinking tea at the group headquarters, watching the clouds rolling in and out of the Demon City.
There is a big news coming from the real estate industry. The once prosperous Hengda Xu Belt has completely collapsed.
The amount of debt revealed this time was as high as 2 trillion.
What is the concept?
Numbers beyond imagination.
This also dealt a heavy blow to the real estate industry, which is currently in turmoil.
If you talk about how exaggerated this debt is, most people would be shocked.
Brother Belt really went too far this time.
The number of listed companies dragged down by Xu's belt must be at least 17 or 18, if not 30.
When the news came out, it can be said that the entire financial world was shocked.
This is not the scariest thing.
The most terrifying thing is that in some places, the houses are sold out after just building a gate.
So many home buyers are still waiting to take possession of their homes. Just imagine how big the contradiction is.
Once something happens, it must be resolved. Brother Belt’s freedom has been restricted.
As for his car-making business, it was nothing more than a joke.
Even Peng Ying called him and said that many relatives in his hometown had bought Hengda's pre-sale houses. What should he do in this situation?
What else can I do?
Just wait for the higher-ups to clean up the mess.
Peng Ying asked again how many years it would take?
In fact, Chen Pingsheng was not sure either. It could be three years, five years, or ten years.
Who can say for sure?
If the housing prices are rising rapidly, then it would be easy to find a buyer for such unfinished buildings after waiting for two years.
Once housing prices are stable, they may even go down.
It is impossible for a private enterprise to take over. That is not a good thing, but being a sucker.
Those who suffered the most here are definitely those who paid the down payment and made repayments on time but still could not get the house.
If you don't experience the pain of these people and just look at the report on the table, you won't be able to understand the feeling of despair.
Tang Jing also came to find him, saying that it was Song Shuiqing's husband's family, Tang Li's mother who came to see him.
The kind that couldn't be stopped. Coming with her were Su Xiaoxi's mother and Su Changlin, the chairman of Su Real Estate.
"Let's arrange for them to go to the living room."
Chen Pingsheng knew that these people came to him mainly because they could no longer hold on. He had actually said before that they didn't need to come to him unless they could no longer hold on.
Once Xu Dai's secret is exposed, they will be in big trouble.
The most intuitive point is that no one dares to buy pre-sale properties anymore.
This is equivalent to cutting off the cash flow of these real estate developers to a great extent.
If this had happened a few years ago, it wouldn't have been such a big trouble, but now, having no money is really fatal.
The four people waited in the reception room for about half an hour before Chen Pingsheng finally arrived.
It's not that he's showing off, he just wants them to understand that if they want to borrow money from him, they shouldn't talk about those indifferent friends and relatives.
Really take out the assets you have, such as undeveloped land or commercial real estate.
If you ask him to borrow money with interest for no reason, aren't you treating him as a fool?
If we talk about interest at this time, we will lose the principal.
Tang Jing sat with him, holding a notebook in his hand to take notes of the meeting.
Chen Pingsheng said, "I know why you're here, and I know your current situation. I won't waste any more time talking nonsense. I can't lend you the money, but I can acquire some of your assets through other means. Now you can speak."
Strong, still as strong as ever.
There's no way. I can't find any reason to refute it. It's because he is the only one with a lot of money at this time.
Mother Tang thought for a moment and said, "Mr. Chen, you have the Global Economic Research Institute. I can't hide anything from you. So I'll be honest. Our Tang family has a total debt of 190 billion. We still have land reserves, which is no less than 120 billion. Counting the unsold houses and commercial assets, our total assets are significantly higher than our total liabilities."
"There's no point in saying this."
Chen Pingsheng said, "Everyone knows you still hold a large amount of land reserves. If you calculate it this year, it may indeed be worth 120 billion, but next year it may only be worth 100 billion, and after another year it will probably be only 80 billion. The biggest problem now is that land assets will depreciate over time, but liabilities will not. On the contrary, the interest generated by the liabilities every day is a figure beyond your imagination.
"I believe there's no need for me to calculate the difference between the positive and negative."
The expressions of Tang's mother and her son Tang Li changed again and again. The actual situation was indeed as Chen Pingsheng said.
This is the most troublesome thing, and the last bit of fantasy in the hearts of the Tang family and the Su family is to wait for the higher-ups to rescue the market.
There are many ways to save the market, and the most direct one is to open the floodgates.
Another way is to borrow bank funds to help them with their turnover, or to issue trillions of funds as in 2008.
"My Tang family owns two good plots of residential land, one in Jing'an and the other in Jinshan. We bought them at the end of last year. One is for 12.8 billion yuan, and the other is for 9.8 billion yuan. I can sell them at the original price."
All real estate companies will stockpile some land in advance every year, which is a very normal operation.
It’s just that Tang’s mother underestimated Chen Pingsheng, so he wouldn’t take advantage of her misfortune.
But I definitely won’t be the one to take over the land that was auctioned at the end of 2019.
To be honest, the land price was at a high level at that time.
In the future, the polarization of housing prices will be quite serious.
The core areas can still be somewhat stable, but those slightly remote locations are simply unbearable to look at.
In this case, if he goes to the original price to go to the ground, he would be a fool.
"To be honest, last year I asked Shuiqing to repeatedly remind you, the Tang family, to sell everything that needed to be sold. I never thought you would still dare to spend tens of billions to hoard land under such circumstances."
Chen Pingsheng shook his head and said, "Our group, including me, have already assessed this situation. Perhaps within three years, housing prices will return to the 2015 level. You're selling the land to me now at the 2019 price. Tell me, who should I ask to make up for the difference over the past four years?"
The business world is very realistic. It is impossible for Chen Pingsheng to spend billions more for no reason just because of his relationship with Song Shuiqing.
That would be a real fool.
Besides, even if the Tang family sold the two plots of land at the original price, they would still suffer a huge loss.
It’s nothing but bank interest.
Most of the real estate developers' money is circulated through banks and pre-sale funds from home buyers.
Normally, after the land is purchased, a bank loan will be applied for using the land immediately.
Then use this money to develop the property, level the land, build a sales office and start selling.
After completing this process, real estate developers can earn a net profit of between 10% and 15%.
This is still a very ideal situation, but the current situation is that the house cannot be turned over.
The bank interest must be repaid, and the land is stuck here. If it cannot be sold after development, it will be even worse.
No matter what, the Tang family took the two pieces of land and sold them to him at the original price even if they did nothing with them.
The loss will be at least 1.7 or 1.8 billion.
He is buying it at a high price now, and if he doesn't take out a loan, there will be no interest.
You will also lose money for four years.
The housing prices in 15 years can only correspond to the land prices in 15 years.
Mother Tang almost gasped. She really wanted to ask if this was serious?
Back in 2015, don’t even think about how her Tang family would be ruined.
Can two of the top ten real estate developers in Shanghai survive?
The Su family, which has higher debts, will definitely die faster than her Tang family.
The Tang and Su families parted ways on bad terms, mainly because the price offered by Chen Pingsheng was too outrageous.
If they sell it at the land transaction price of 15 years ago, they will suffer a huge loss.
Don’t be fooled by the seemingly prosperous situation of real estate developers. That is only when nothing goes wrong. Once something goes wrong, nothing can be stable.
After they left, Tang Jing asked him, "Boss, why did you want to acquire so much land?"
"Of course it's for building houses."
Chen Pingsheng said, "I have so many employees. If we squeeze out the bank interest and land premium, most of the ordinary employees can still settle down in Shanghai. If we don't squeeze out this extra money, Jinshan will cost 30,000 to 40,000 yuan per square meter. Add in the common area, and I estimate that in a lifetime, I will only contribute to this house."
It is impossible to squeeze out the water from these real estate properties with the small amount of money in the hands of employees.
Only he can do it, and there are too many employees who hope he can get new land and build houses.
The houses that Tengying had built before were totally insufficient.
Now a number of villa areas have been built.
As a boss, he can't just think about himself in everything.
…
Tang's mother was so angry when she left. She thought Chen Pingsheng was too insincere.
They even used 15 years' worth of land price to scare her, and she believed that this day would never come.
No matter how difficult it is to sell a house, the authorities will not allow housing prices to fall to that level.
People who bought houses will not be happy either.
It can be said that if housing prices really fall back to 15 years ago, she has no idea what the consequences will be.
As for the Su family, they naturally had the same idea as her.
Even if the two were to die, they would not sell off their family's high-quality land assets at a low price so quickly.
If I sell this, I will be left with nothing.
Their biggest hope is that the government will rescue the market. They cannot just watch the house prices continue to depreciate.
In fact, the house has not yet reached the point of depreciation. It is just that there is no market for it and it cannot be sold.
This is essentially no different from cutting flesh with a soft knife.
After waiting for a long time, the internet was full of news about Belt Brother.
The biggest things that Belt Brother has done in recent years are making cars and football.
Football seems to be thriving these days.
Any domestic football player can easily earn tens of millions of yuan a year.
The high ones can reach hundreds of millions or even tens of millions.
The concept of money-driven football has been clearly understood by Belt Brother.
If there weren't a World Cup, ordinary people would probably think that Chinese football has reached world-class level.
When the World Cup comes, their true colors will be revealed immediately.
After all, you can't bribe the other team's football players with money.
Once money can no longer be used to buy them off, those small countries in war will be able to beat these domestic football teams.
The Belt Brother, whose statues used to be erected everywhere, is now trembling and in danger.
As for Chen Pingsheng himself, he has already given standards to everyone who wants to borrow money from him.
All money can only be obtained by selling core assets.
And the standards he used to price those core assets were as low as they could be.
In late October, Wang Yanfeng's father quietly came to Shanghai.
After talking with Chen Pingsheng for almost an hour, I still don’t know what was confirmed.
The business assets of Lao Wang's family are still very stable, but it's a pity that this veteran in the business world is now also unable to maintain stability.
After he returned home, Song Yanxi asked him what happened.
Chen Pingsheng said, "Old Wang plans to sell me some shares of Wanda Commercial Management."
Wanda Commercial Management is a well-known commercial asset in China. Just look at the Wanda Plazas developed all over the country.
"What's his price?"
"180 billion, plan to sell 20%."
"The valuation was around 200 billion two years ago."
"almost!"
Chen Pingsheng said, "He wants to use a gambling agreement to complete the domestic A-share listing. This is a risky move. If it succeeds, it's fine. If it doesn't, all the hard work over the years will be wasted."
Song Yanxi said, "It's clear from this that a company's lack of cash reserves can be fatal at a critical moment. These companies used to borrow money like crazy to expand, but now the situation has changed, and they're all under a tight rein. Fortunately, our family has never had to take out many loans over the years."
"Yes, only when you don't have a loan can you sleep soundly."
Chen Pingsheng said, "We don't actually have much reserve funds, but with Nvidia shares, we can withdraw 10 to 20 billion US dollars at any time."
It is also because they don’t have a bank loan that they don’t need so much cash reserves.
No one is urging them to pay back the money, so why would they need so much cash?
"Are you planning to buy his Wanda shares?"
“I have a little idea about this.”
Chen Pingsheng said, "No matter what, the rental income from Wanda Commercial Management is very stable. Plus, after so many years of operation, if we take it over, it will be a great benefit to the entire Tengying Group's business layout. The most important thing is that this rental income is very stable right now. The only pity is that he is only willing to sell 20% at most. I'm not very interested in a stake that doesn't give me a controlling stake."
"Isn't it difficult for you to buy his controlling stake?"
"It's probably impossible now, but who can say what will happen in the future?"
Chen Pingsheng was too lazy to think about it. Since he couldn't buy the controlling stake, he just didn't want it.
If you wanted to make money in the past, you had to build up those small businesses step by step.
But now it’s different. If he is patient, there will be a lot of high-quality companies waiting for him to choose from.
All he needs is a keen eye for gold.
Whether it is the Tang and Su families, or Wanda Commercial on Lao Wang's side, it is because they have not yet reached the point where they are completely desperate.
When they reach that point, they will find that they have to sell it whether they want to or not.
In recent years, the most important thing for Chen Pingsheng is to maintain his family's base.
It doesn’t matter if the traditional sector loses tens or hundreds of billions a year.
Everyone is losing money, and it is difficult for him to stay out of it.
The most important thing is to make Tengfei New Energy a truly world-class enterprise.
And the AI intelligence in which he invested heavily.
As for the rest, the core is big investment.
There is also good news: Nvidia’s stock price has also exceeded 600 billion US dollars.
When the amount reaches 700 billion US dollars, he may cash out the principal.
We will probably cash out 1.5% first to meet the investment needs of the entire group in 2021.
In fact, he really is not short of money at all.
(End of this chapter)
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