National Tide 1980.

At the same time of day, the Grand View Garden Hotel in western Beijing presented a completely different look and atmosphere from the Beijing Amusement Park Hotel.

The building's exterior was designed jointly by the Municipal Architectural Research and Design Institute and scholars of the novel *Dream of the Red Chamber*.

The main building complex is in the style of the Qing Dynasty, combining modern and traditional elements.

Especially the hotel's top floor, which replicates the classic Chinese garden architecture, with upturned eaves, carved columns, and pavilions scattered throughout.
This is a rather unique design attempt for this era, truly eye-catching and highly recognizable.

Such an external style perfectly matches Mi Xiaoran's personality, which is concerned with appearances, novelty, and luxury.

The hotel's positioning also perfectly suited Mi Xiaoran's needs.

It focuses on high-end international business reception, and has been renovated and upgraded to meet international five-star hotel standards, targeting a high-end clientele.

From architectural style and interior design to the selection of electromechanical equipment materials, the entire process prioritizes an international and high-end appearance.

Mi Xiaoran came to the hotel in mid-March to inspect the completion of the main building structure.

On that day, she wore a sharp dark business suit, her long hair tied up, exuding a cool and sharp aura, as she led her team to inspect the progress of the soft furnishings and mechanical and electrical procurement on each floor.

She walked briskly, her eyes sharp and discerning, demanding the utmost strictness in terms of craftsmanship and the quality of details on site, tolerating no flaws whatsoever.

Rather than focusing on the building's solidity and durability, she values ​​the overall high-end style and international feel.

So when she looked through the thick list of purchases and saw the options for domestic lighting fixtures, domestic switches and electrical appliances, and local solid wood furniture, she immediately pressed her hand down on the paper and rejected them on the spot.

“I am not satisfied with this batch of domestically produced products. Why are we using domestic products for all categories, including appliances, lighting, and soft furnishings? I want to replace them all with imported products from major international brands.”

His tone was indifferent and cold, leaving no room for negotiation.

The hotel manager in charge of the renovation project suddenly changed his expression, quickly stepped forward, looked troubled, and urgently tried to dissuade him.

“Mr. Mi, this plan is difficult to change! Actually, all the parameters of the current batch of domestic equipment meet the standards and fully satisfy the operational needs of high-end hotels, with extremely high cost performance. However, if we replace them all with imported products from Europe, America, and Japan, the overall procurement cost will increase by at least 30%, which will seriously exceed the original renovation budget. As you know, we are under great financial pressure right now, and our top priority is to open as soon as possible and recover funds. Doing it this way is really not worthwhile! There is no need to spend this extra money unnecessarily.”

Faced with the person in charge's pragmatic cost considerations, Mi Xiaoran's lips curled into a faint, mocking smile. In her eyes lay the coldness of extreme capital rationality and a deep-seated disdain for local products.

"Whether it's cost-effective or not isn't about the immediate purchase price. You're focused on the cost savings right now, but I'm looking at long-term operational stability, brand image, and reputation within the target community."

She tapped her fingertips lightly on the table, each word calm and forceful, each sentence striking at the core of capital's pursuit of profit, leaving no room for sentimentality.

"At present, domestic products are essentially synonymous with cheap and substandard goods. They are crudely made, poorly controlled, and extremely unstable. They may seem fine when you buy them, but they will start to break down frequently after three months and become unusable after six months. Although they seem cheap to purchase, repeated repairs, downtime for replacement, and impact on the customer service experience add up layer by layer of hidden costs, making them far more expensive than imported equipment that can be purchased in one go."

The hotel manager was still unwilling to give up and tried to argue his case to salvage the solution.

"Mr. Mi, in recent years, China's manufacturing industry has been constantly iterating and improving. Many large manufacturers' products are now very mature, with significantly improved stability, and are fully capable of supporting the usage standards of high-end hotels..."

Before he could finish speaking, Mi Xiaoran interrupted him coldly.

"Mature?"

She couldn't help but chuckle softly, her tone full of unquestionable denial and mockery.

"Then let me ask you, if you were buying appliances for your home, would you buy domestic or imported ones? Your TV, refrigerator, and washing machine aren't domestic products, are they?"

The hotel manager was immediately speechless and blushed deeply.

At this moment, Mi Xiaoran put on a stern face and reprimanded him in a very serious tone.

“We deal in high-end international business, catering to foreign businesspeople, top-tier individuals, and business elites. The core competitiveness of high-end venues is never just about functionality, but about quality, class, style, and stability. Domestic products inherently carry the label of cheap and tacky, with rough details and poor quality. Once they enter the venue, they will lower the international image of the entire hotel, a loss that no amount of money can make up for.”

"Imported equipment not only represents superior quality, but also signifies international standards and a high-end brand image. In our industry, brand image takes precedence over cost, and stability takes precedence over so-called local sentiment."

"Don't give me that empty talk about supporting domestic products and local growth. I only know that 'you get what you pay for' is an ironclad rule of business. Being greedy for short-term cheapness and settling for domestic products is the most superficial and short-sighted business thinking. Businessmen pursue profits, capital seeks truth, and the market only recognizes the final result, never human feelings or sentiments. With a mature import system in front of me, stable, efficient, and without hidden dangers, why should I gamble on the shortcomings of an immature domestic product?"

"If the budget is overrun, cut costs from other miscellaneous expenses and redundant expenditures, but the standards for equipment and materials cannot be lowered in the slightest. All appliances, lighting, and soft furnishings in the house must be benchmarked against top-tier imported brands from Europe, America, and Japan. It must be completely internationalized, with zero defects throughout the process, and high-end in every aspect. Otherwise, I won't be able to explain this to the US headquarters, and I'll have no choice but to take you to court. Do you understand?"

Her attitude was resolute and her stance was firm, without the slightest easing or compromise.

This not only terrified the hotel manager, who was sweating profusely, but also silenced all the staff present, with no one daring to argue further.

No one had any more ambiguity or wishful thinking left in their minds. At this moment, everyone was clear that Mi Xiaoran's business logic had long been entrenched in prejudice.

Domestic products are equated with cheap, outdated, unstable, and unsuitable for formal occasions.

Foreign investment = high-end, reliable, top-tier, and the best business choice.

In her business world, she left absolutely no room for domestic products to survive.

Profit, efficiency, quality, and return on capital are all things that can be sacrificed for profit.

…………

Those who experienced it should know that the 1990s were the deep waters of reform and opening up, a period that was both exciting and turbulent.

The tremendous changes that began in the late 1970s have led to today's situation, not only transforming people's lives and the real economy, but also quietly awakening the capital consciousness of the Chinese people.

In this era, more and more people are gradually forming a viewpoint.

The real economy is the foundation of our existence, but financial capital is the wings that allow us to take off.

Simply focusing on product development, store operations, and manufacturing can only ensure the stability of one's own small territory.

Only by knowing how to leverage capital, master equity operations, and rely on the capital market to expand scale can one truly transcend social classes, broaden one's horizons, and lead the times.

This is a brand new window of opportunity where real industries form the foundation and capital reigns supreme.

Entrepreneurs who don't understand financial games and capital operations are destined to remain stagnant and fall behind the times.

Therefore, the differences and disagreements between Ning Weimin and Mi Xiaoran in their business philosophies in the catering and hotel industry are merely superficial differences in terms of track selection and short-term gains/losses.

When it comes to how to view the capital market and how to navigate the financial game, their understanding and methods are worlds apart.

………………

In mid-March, in the office of the deputy general manager of China's Huaxia Corporation at the Pierre Catton Building, the floor-to-ceiling windows offered a panoramic view of Beijing's bustling cityscape, while the glass shielded the noisy streets below. The interior was quiet and elegant, exuding a calm and composed atmosphere. Today, Zou Guodong was not sitting behind his desk, but rather on the sofa, receiving distinguished guests.

He and Ning Weimin were sitting opposite each other, each with a cup of tea in hand.

The two were no longer discussing trivial matters like store operations, food service, and clothing sales, but rather the Hong Kong stock market, listed company stock prices, equity issuance, and cross-border capital layout—a truly strategic financial game at the forefront of the times.

"After Pierre Cardin China was listed in Hong Kong, its overall performance was much more stable than we expected."

Zou Guodong slowly put down his teacup, his tone relaxed yet confident, and slowly reported the latest market data.

"When we first hit the gong, the Hang Seng Index had barely held above the 5,100-point mark. Now, the market has been rising steadily and has reached 6,200 points. The entire Hong Kong stock market is booming, with abundant funds and unprecedented liquidity."

"Our stock performed reasonably well in the early stages of its listing. The brief dip and moderate correction were normal for newly listed stocks. Now the adjustment is completely over, and it has returned to an upward trend. Based on the current revenue data and market enthusiasm, once the annual report is officially released this year, the performance will be realized, and the stock price will definitely reach a new high since the listing."

Ning Weimin nodded slightly, his expression calm.

He had anticipated the overall trend and took the opportunity to speak, revealing the business situation in Japan.

"At Pierre Cardin Japan, the growth rate has fully met expectations and even exceeded forecasts. Currently, our offline specialty stores have spread throughout the three core cities of Tokyo, Osaka, and Nagoya, with more than a dozen directly operated stores, firmly establishing ourselves in the mainstream consumer market in Japan. The next expansion target is Kyoto, Yokohama, and Hiroshima. Once completed, we will have essentially achieved full coverage of Japan's core business districts."

"I also want to tell you something even better. Although the initial investment in store expansion, decoration, product placement, and team building has been huge and costs have remained high, and we have been in the investment phase, the turning point is approaching. We can basically achieve break-even and turn a profit in the first quarter. When the interim report is released, we will definitely see a significant profit and a performance explosion, providing solid performance support for the Hong Kong stock price."

At this point, Ning Weimin changed the subject, getting to the core of the conversation, and his tone became serious.

"By the way, how's the preparation for the private placement in Hong Kong progressing? Have the securities firms offered any new plans or stances?"

When the topic of share issuance came up, Zou Guodong's expression turned serious, his relaxed smile vanished, and he truthfully expressed the securities firm's concerns and compromise suggestions.

"The market conditions are indeed favorable, and there is ample liquidity. The securities firms that are handling our share issuance generally believe that this issuance is likely to be approved and successfully implemented. However, they have one major concern, which is still the same point: the amount of funds to be raised is too large."

“Our original plan was to raise HK$1.5 billion to complete the acquisition of Pierre Cardin in Japan. However, the securities firm repeatedly assessed the risks and felt that the plan was too aggressive, almost like a snake trying to swallow an elephant. As you know, the HK$1.5 billion fundraising scale is 40% higher than the current total market value of China Asset Management and five times the market value of Goldlion.”

“In the eyes of institutional investors in Hong Kong stocks, this size of share issuance is too risky and too abnormal. Therefore, they unanimously suggested that the fundraising scale be reduced to less than HK$1 billion to ensure a safe and secure process, reduce market skepticism, and greatly increase the chances of approval.”

After hearing the brokerage firm's compromise proposal, Ning Weimin shook his head without hesitation, his eyes resolute and his attitude firm.

"One billion won't do, it has to be 1.5 billion, not a penny less."

His logic was clear and concise, pinpointing the core issues without any ambiguity.

“I’m not greedy, but a sum of HK$1 billion is simply not enough to acquire absolute control of the Japanese company. Without absolute control, it’s impossible to consolidate the financial statements, to include all the revenue, profits and assets of the Japanese region into the listed company system, and to completely control the Japanese team’s voice.”

“You should be aware of the Japanese way of doing things. They seem to be disciplined and meticulous, but in reality they are extremely xenophobic and arrogant to the core. Unless we completely seize absolute control and cut off their capital lifeline, they will never truly bow down and work diligently. They will always have backup plans and engage in underhanded tactics. What I want is not just to acquire assets, but to completely control, absolutely bind, and assimilate them entirely.”

Zou Guodong looked troubled.

"But the concerns of securities firms are not without reason. The huge amount of additional issuance, market selling pressure, public opinion doubts, and institutional wait-and-see attitude are all real risks."

I'll cover the risks.

Ning Weimin spoke calmly and confidently, having already laid out all the necessary contingency plans and showing no fear of market risks.

"You should directly tell the securities firms in Hong Kong to proceed with the share issuance process as usual, without worrying about the issuance failing or insufficient funds being raised. Let the market subscribe to whatever amount can be issued. As long as the market cannot absorb the remaining shares and no one subscribes, I will find someone to buy them all."

"There's no need to worry about the legality of the procedures. I'm not foolish enough to do it myself. Our partners, Mr. Zeng Xianzi, Ah Xia's overseas trading company, and Hong Hanyi's financial company can all hold the shares on my behalf. They should also buy some themselves. In short, the three parties working together are enough to take over all the remaining shares. There's no need to worry about fundraising failure or the issue price falling below the issue price. I'll cover the losses."

This confidence instantly dispelled all of Zou Guodong's concerns, but what followed was a deeper sense of emotion and regret.

He stared blankly at the composed and confident Ning Weimin, and couldn't help but shake his head and smile bitterly, his tone full of complexity.

“Weimin, to be honest, the more I look at it, the more absurd it seems. Outsiders can’t understand the intricacies of this; they just think you’re skilled in capital operations and have a far-sighted plan. But I’ve been following you through the whole process, so I know exactly what’s going on.”

"In this whole affair, you've essentially paid out of your own pocket and overpaid to buy back the rights that were originally yours in a disguised form. Everyone else is taking advantage of this share issuance to share in your profits, take your share of the profits, and enjoy your benefits. It's like everyone is feeding off your flesh and blood. From beginning to end, you're the one who suffers the most and pays the most."

"Is it worth paying such a high premium and bearing such a heavy financial burden in order for a Chinese listed company to acquire an overseas subsidiary?"

Faced with Zou Guodong's confusion, Ning Weimin smiled calmly, his eyes clear and bright, not at all blinded by superficial gains and losses. He slowly explained the deep logic of this top-level capital operation, completely overturning Zou Guodong's understanding.

“You only see the surface-level loss and paying a premium, but you don’t understand the core assets I actually gained. I’m not that noble, nor am I making concessions or sacrificing myself for nothing.”

"My actions, seemingly aimed at enabling Huaxia Company to fully acquire the Japanese company and achieve the feat of a snake swallowing an elephant, are actually a way for me to make real profits. But my true core benefits are hidden in the acquisition itself."

Ning Weimin leaned forward slightly, his tone resolute, and pointed out the most crucial move in the game.

"By taking advantage of this super-large premium share issuance, I personally subscribed and guaranteed the shares through three overseas institutions, which is equivalent to using real money to significantly increase my holdings of core shares in Huaxia's listed companies. So you don't need to feel sorry for me, and I have nothing to feel aggrieved about."

"Without this approach, I would never have had the chance to increase my stake in Huaxia Company. I couldn't just snatch it from Master and President Song, could I? Now it's much better. After this round of share issuance and capital swap, the high-quality Japanese assets have been successfully incorporated into the listed company, causing the company's market value to skyrocket and its fundamentals to undergo a complete transformation. My personal equity has been transformed into Huaxia Company's equity, voting rights, and voice, which will continue to rise and firmly lock in its absolute core position. Essentially, I own more. No one knows our company's business situation better than me. Isn't that right?"

At this point, Ning Weimin's tone became relaxed, suddenly carrying a hint of joking.

“I said, instead of feeling sorry for me, you should think about your own future. Because if you keep increasing your holdings at this pace, it won’t be long before, after the subscription, my shareholding in Huaxia Company will probably surpass that of President Song Huagui and you, and I will become the second largest shareholder of Huaxia Company.”

Upon hearing this, Zou Guodong couldn't help but burst into laughter, all his confusion vanished, and he was filled with admiration and understanding.

"Alright, alright, if that's how it is, then I'm not afraid at all; on the contrary, I'd love to!"

His eyes were open and sincere, showing no anxiety about the dilution of his power, but rather a sense of freedom and longing.

"To be honest, rather than me burning the midnight oil every day, I'd love for you to take complete control of the company and run it yourself. Your vision, strategy, methods, and capital thinking are unmatched by anyone. As long as you have full authority, the company will only grow bigger and more stable."

"As for me, I'll retire peacefully, without worrying about anything or getting involved in anything. I'll just collect my share dividends and enjoy my life in peace. Isn't that good enough? Am I destined to be a hard worker? I'm not stupid; I won't make things difficult for myself."

These candid and honest words instantly made Ning Weimin laugh.

He shook his head and chuckled, thinking to himself that Zou Guodong, though seemingly traditional and steady, was actually the most insightful and shrewd.

While others fight tooth and nail for power and profit, he saw through the situation early on and simply lay down and waited for his share of the profits. He is a truly clear-headed and top-notch smart man.

For a moment, the office was filled with the aroma of tea and laughter.

The two had a long and open conversation, free from any entanglements of interests or suspicions of power, leaving only a deep sense of mutual trust and understanding. (End of Chapter)