Chapter 650 Cashing out and walking on two legs
A few relatives came from my hometown, and it was Peng Ying who picked them up at the train station. These relatives were all from the Peng family.
They are cousins of Peng Ying. One of them is in his sixties and the other is in his fifties.
The main reason for coming this time is also because of the children in my family.
I finally used up all my savings to buy a house in the city, but in the end I couldn't get the house.
It's not that the project is unfinished, it's just that the construction site has no money to start work.
When something like this happens, the normal thing to do is to keep putting it off.
I contacted many people and tried every possible way, but the final result was that I still had to pay back the bank money, but there was no house to buy.
The only way is to find Peng Ying.
Because they were relatives he seldom contacted, and Chen Pingsheng hadn't been back for many years, he didn't come back either.
But after knowing the matter, I still let Song Yanxi handle it.
Basically, it means buying all the unfinished buildings purchased by these relatives.
This little money is nothing to him, but it is really a matter of life and death to these country relatives.
I have no place to cry every day.
Seriously speaking, it is really not easy for ordinary people to buy a house.
Not to mention buying an unfinished building.
He can still take care of the relatives on his side, but if it comes to those country folks who have no one to take care of them, they will be really miserable.
Chen Pingsheng spent roughly 30 million to buy the house. Since it was not a house in a first-tier city, tens of millions of yuan could help his poor relatives in the countryside get through this crisis.
He did a great thing for his relatives. After all, he usually wouldn't deliberately get close to these relatives in need.
But if he really encounters something, he will still do his best to help.
In late October, when Nvidia's stock price rose to 680 billion US dollars, Chen Pingsheng could no longer wait.
Just take out 1.5% to cash out, at least get all the invested capital out.
As for the rest, we'll see how the situation develops.
1.5% of 680 billion US dollars is not a small amount at all.
Instead, it was a huge cash-out of tens of billions of US dollars, which is about 70 billion yuan when converted into RMB.
Chen Pingsheng usually gathers all the funds needed for Tengfei New Energy one year in advance.
Thanks to three large cash-outs from Tesla this year, his investment in the technology field has risen three levels in one go.
After the cash-out was completed, 30 billion yuan was also allocated to Tengfei New Energy.
Adding the 20 billion yuan invested previously, the reserve funds of Tengfei New Energy and Tengde Times will reach 50 billion yuan in 2021.
There is absolutely no shortage of funds needed for the coming year.
There is no shortage of other sectors either.
The reason for cashing out is that he doesn't want to put all his money on Nvidia.
With the remaining 40 billion, plus the 8 billion in cash he already had, Chen Pingsheng held two consecutive days of meetings at the headquarters and finally decided to invest in Google.
Google’s current total market value is around US$700 billion, which is equivalent to RMB 4.8 trillion.
He invested 48 billion yuan, but could only buy back 1%.
With his existing capital, he can only invest in these technology giants.
It is easy to get into smaller stocks but difficult to get out.
Any move can bring the stock price crashing down.
Google doesn't need to worry too much about cashing out.
It’s still the same as before. Once you invest, you won’t cash out for at least two to three years.
If we can double it in three years, that would be extremely impressive.
As for those high-quality assets in the country, they are not at the point of despair at all. Although everyone is facing difficulties, they always feel that they can hold on a little longer.
If he has this mentality, it is not the best time for him to enter the market.
Only when these people completely abandon all their hope of luck, that will be the best time for him to enter the market.
It’s almost the end of October, and the group will also start compiling the third quarter profit report.
As for their own family, they also have to start counting their income.
His company's most stable income currently comes from two sources: investment and rental income from Tencent Commercial Management.
Tencent Commercial Bank invested nearly 100 billion yuan in him, and the investment was made very early.
The annual net rental profit is about 3.5 billion.
In addition, Shuiyunjian also accounts for the bulk of its cash income. Due to well-known reasons, Shuiyunjian's profit this year has decreased by at least 30% compared to last year.
The total estimated annual revenue is only 2.6 billion.
Putting aside investments, these two sources of income are the most stable among family incomes.
As for Tengying Group, there will be no dividends in the past three years, so there is no room for calculation at all.
After putting down the family financial report in his hand, Chen Pingsheng said, "We have to be more frugal. It seems that our family is doing well, but apart from investments, our actual stable annual income is only about 6 billion, which is far from what we expected."
The reason why stock investment income is not included is mainly because it is risky income.
It may be very high this year, but it may not be the same next year.
At least he doesn't know whether Nvidia, including the newly invested Google, will rise or fall next year.
This kind of uncertain asset certainly cannot be counted as a family's stable source of income.
"That's not low, is it? I think it's quite impressive to be able to maintain a stable annual income of over 6 billion."
"That being said, I still feel like it's a little too little."
Chen Pingsheng said, "Singapore has invested 20 billion, and we expect to have a stable income of 700 to 800 million next year. Once Tengfei New Energy really takes off, there should be another surge in revenue."
Song Yanxi also nodded. "I've invested over 5 billion in Tongxinjia, and it will generate very good profits within two years."
"Wait, it's still far from our family's peak period. My mom's relatives probably won't be coming over much these days!"
“Much less.”
Song Yanxi said, "You bought the unfinished house from them out of pure kindness. Unfortunately, some people always like to act smart and treat us like fools. They even took a few broken bowls from their home and said they were antiques, and wanted to sell them to us for millions of yuan each, saying that they had spent all their money to buy them back."
Chen Pingsheng shook his head and laughed, "Some people are like that. If you give them a little sweet treat, they'll rush over to take advantage of you. They always feel like you've helped others but not them, and they feel very unbalanced. You don't need to pay attention to people like that. Next time you come, just have the security guards kick them out."
"This is still not good, after all, we are related. Besides, your mother won't do the same."
"If you treat them as relatives, they will take advantage of you."
Chen Pingsheng said, "Don't bother with this kind of person anymore. There's nothing we can do about the house. Ordinary people would never get over it if they were dealt with this kind of thing. If we don't lend a hand, we probably won't be able to sleep until the day we die. Other things are different. They're just trying to get a bargain."
Song Yanxi thought about it and agreed. It’s best to ignore this kind of person. It makes her feel uncomfortable just looking at him.
(End of this chapter)
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