My Lord, you need to stand up!

Chapter 424 Taking an Unconventional Approach to the Card Table

However, Wei Dong really didn't expect where Chi Shiming's crossroads would appear.

He only knew that it wouldn't be easy to persuade the Hong Kong guy.

Chi Shiming was very excited; his long-awaited real estate business was about to begin.

The total revenue from the 1408 residential units in Shangzhou this time was over 28 million yuan, and the shops of just over 10,000 square meters sold for over 22 million yuan. The entire 50 million yuan sales of the second phase of residential units in Shangzhou was the last thing he personally sorted out.

He was only in Shangzhou as the business director and a minor shareholder of Jianggang Real Estate, providing guidance and internships. He did not receive any dividends or commissions because the real estate sales funds in Shangzhou were only used for local operations in Shangzhou.

This is Wei Dong's ironclad rule: to resolutely prevent real estate funds from flowing out of the Beijiaochang Industrial Park.

We must stay in Shangzhou and, as the old leader hoped, turn it into a productive investment.

If I secretly make money and embezzle it, wouldn't that be a slap in the face to my old boss?

Moreover, in this situation, making a little money from a small corner would seem stingy and petty, so it's better not to make a penny and to leave all the profits from the commercial storefronts to the industrial park for urban infrastructure development.

Chi Shiming could accept this, after all, there were still dozens of blocks ahead. Once this productive investment started rolling out and boosted the Shangzhou economy, they could make money later.

However, at the Shanghai Electronics Industrial Park, the electronics factory was built with funds from a joint venture between Apple and Rang Weidong.

A group of Hong Kong businessmen divided up the hotels, office buildings, and residential communities of Jianggang Real Estate.

He was definitely not qualified to participate since he was there to visit and investigate. Each project involved an investment of hundreds of millions of yuan, which was much more complex and valuable than Wei Dong's kind of 20-plus-story single building that cost around 10 million yuan per unit.

Wei Dong's only goal was to build the building to solve the housing problem and the lack of office space; he had no concept of high-end living at all.

He never lived a high-class life.

The Hong Kong businessmen want to establish their brand in mainland China.

They're always talking about things like the top five-star hotel in East China, the most prestigious international commercial office building in mainland China, or the first high-end apartment building for foreign professionals.

So even though Chi Shiming only had a few million in funds and rushed over to try and get a share of the pie, he had absolutely no chance.

He then rushed back to Jiangzhou, and only because Wei Dong suppressed the situation was he able to start construction on a less upscale four-star hotel, commercial office building, shopping center, and residential community in the Economic Development Zone.

But he still didn't get a share!

Old Heng and his gang were so eager to fight amongst themselves for market share that they wouldn't even look at a nobody like him.

Chi Shiming's Hong Kong identity was of little use to them, allowing Wei Dong to control the joint venture real estate company without spending a penny and hold half of the shares in all these projects!
The policy requirement that the company must be a joint venture and that it must hold a controlling stake actually allowed Weidong to reap the benefits.

Hong Kong businessmen prefer to cooperate with him because he has local advantages and won't actually take half of what those rich kids say they want, or even the whole thing in the future.

The manufacturing plants they've opened are already making money with peace of mind.

They didn't give Chi Shiming a chance to get involved at all.

The Xishan Electronics Building has the characteristics of the Fifth Ministry of Machinery Industry, and it is definitely not allowed for Hong Kong people to hold shares or participate in it.

Even the construction site was sealed off by Lao Geng and his team, who skillfully implemented the rules of confidential engineering, prohibiting all external units from contacting or entering the site.

Then, the Liujin Building was a collaborative project between Liu Taiyuan and Rang Weidong. Manager Zhang was just an employee working as the manager of the decoration company.

The agreement was signed before I went to Hong Kong and had nothing to do with real estate.

This is a scheme employed by Dongsheng Trading to acquire office real estate through a shell company.

Therefore, Chi Shiming could only follow the Animal Village real estate project.

As a result, Wei Dong reduced the profits to almost nothing, and the few million yuan in cash he had left did not stay with the real estate company, but instead went to the urban construction company.

Chi Shiming, who does the most work, isn't doing it for the salary and bonuses; he wants to be a shareholder and has the ambition to sit on the table and push the chips.

Wei Dong came over and pulled the busy, sweating HK guy into the zoo through the back door of the real estate company's sales office in Tiger Tower.

The zoo's security personnel have now been completely replaced. The security company is composed of some of the injured and disabled veterans from the infrastructure construction team. All of them are outsourced to real estate companies, the zoo, Liujin Building, and all of their own local agencies in Jiangzhou, where they take turns on duty.

Strictly inspect access cards to ensure park standardization.

Wei Dong explained the division of profits for the entire Animal Village without any concealment: "This is the first commercial real estate project in Jiangzhou to be sold publicly. Not only is the city government watching, but all provinces and cities across the country are watching. Our accounts will be scrutinized over and over again to see if we have made dirty money through capitalist restoration. So, real estate companies really can't make money at this time."

Chi Shih-ming couldn't help but feel a huge sense of loss!

He joined at the end of last year and has been busy for more than half a year without any results.

The Animal Village real estate project is a private real estate company jointly owned by him and Rang Weidong, and has nothing to do with the real estate companies of Hong Kong businessmen. Jianggang Real Estate is just a "group" name; in reality, it is a separate joint venture with each of Lao Heng and other Hong Kong businessmen, including Chi Shiming.

The minority shareholder was stunned and distressed: "Can't even a three-story commercial storefront with a garage be sold? Shangzhou sold it for 20 million."

Wei Dong pleaded earnestly: "If we sell now, we can only use the money legitimately like Shangzhou did. We made tens of millions just by building this building, which could get us arrested and shot! It's better to hold onto it for now. In a few years, or even ten or twenty years, these properties will only double in value. As real estate, how about we split it equally?"

Chi Shiming was extremely distressed: "It's not that I don't trust you, and you're right, we should be careful. But at this stage, I want to make a profit. I want to turn one building into two, two into four. Maybe if I miss this opportunity, I won't have such a lucrative profit!"

This is a key point that both of them, whether they actually time-traveled or not, shared: "The mainland hasn't started developing real estate yet, so there's no regulation. Without regulation, it's all about land grabbing. Before formal regulation arrives, it's crucial to hone your skills and accumulate initial capital. Once regulation arrives, it's all about financial strength and connections, and at that time, returns will drop significantly!"

Rang Weidong had no intention of getting into real estate, which is very different from Chi Shiming, who was determined to make a name for himself in the real estate market.

He had no way to persuade him: "I just want to help the mainland real estate industry at this initial stage... learn from the Hong Kong model but don't become a nightmare of high housing prices. We individuals can easily earn money to achieve financial freedom. I can seize the opportunity to make money in the sale of other products, but you are being dragged along by me and can't make money. It is indeed a loss for you."

Chi Shiming said seriously, "I don't mean to complain about you. I know your long-term mindset. To be honest, I would be scared if you didn't pull me along like this. I agree with all your decisions, but it would be fine if we just missed this once-in-a-lifetime period of huge profits. It would be the most regrettable thing if we missed the opportunity to take advantage of these profits to expand."

Wei Dong was truly ruthless: "Here's the deal: this real estate company will be in operation for ten years. After ten years, I'll liquidate the company and exit, giving you the opportunity to start your own business. During these ten years, I'll mainly rely on the real estate company to provide housing, cash flow, and employment opportunities for all industries, and you must follow my plan. So please bear with me and earn less over these ten years."

It's very difficult to find someone in mainland China who understands the real estate practices of Hong Kong.

From opening a new property, mortgages, loans, selling pre-sale apartments, to calculating the value of commercial storefronts, these are all unheard of matters in mainland China, and there's simply no one to do them.

Even Wei Dong himself didn't know how to operate it.

He had heard of these real estate tricks from later generations, but had never experienced them himself. Only Chi Shih-ming could immediately implement them according to the Hong Kong model.

If it were someone from Hong Kong, they wouldn't be able to communicate and reach such a consensus so precisely.

Their character is also incredibly rare.

He quickly waved his hand and said, "Boss, you don't need to test me like this. Jiangming Real Estate says it's a joint venture between the two of us, but in reality, you're the one who funded the entire Animal Village project. My little bit of capital is just a drop in the ocean and can't help at all. I am indeed only receiving a senior executive's salary at this stage, but there's no need to reverse the control like this. Everyone in Jiangzhou and Shanghai recognizes you now, and even ten years from now, they will probably still recognize your brand. My problem now is that I don't have enough chips to go around and expand the market with you. I'll think of another way myself."

Wei Dong didn't even bother to acquire land.

At least he knows best that there are currently no land transfer fees; it's probably just that some people haven't quite grasped the concept and are afraid that the nature of the land will change.

It will be taken back sooner or later.

He didn't take advantage of this period to aggressively acquire land and build.

After hearing Chi Shiming's words, he became a little wary: "Don't try any illegal ways to make money. We're already on the right track and can make money steadily. Don't take any risks at this stage."

He knew that there must be some shady dealings involved in Chi Shiming's "round-trip routes".

Otherwise, it would be impossible for one person to accumulate millions so quickly over two or three years.

Even with Wei Dong's extraordinary abilities, which allowed him to operate with superhuman insight, he could only earn a few hundred thousand yuan a year traveling around on his own. It was only after he entered the large-scale sales of the manufacturing industry that he suddenly took a leap forward.

The guy chuckled and said, "I know my limits; I definitely won't break the law."

Only after this did Wei Dong feel somewhat relieved enough to check with the bank on the progress of various mortgage loans and accounts for the opening sale.

Finally, after discussing it with Chi Shiming, they received a bonus of 200,000 yuan from the real estate company under the guise of a consultation fee.

The main thing is that the two shareholders find some expenses in Hong Kong to offset the accounts, each taking 80,000, and the rest is used to pay bonuses to the employees in various departments.

All other profits were given to the urban construction company.

Two completed houses sold for 18 million, and a bunch of pre-sale houses sold for a little over 100 million.

It's incredibly kind of a real estate company to only make such a small profit after deducting all its usual expenses.

Wei Dong was simply looking for an excuse to give Chi Shiming some subsidies.

He himself didn't care about the profits at all.

Of course, once the remaining twelve buildings are completed, and the policy environment allows for a safe return on investment, Wei Dong certainly won't refuse.

Because the accounts of the real estate company and Dongsheng Trading were separate, Weidong was told to go home that night, wrap 50,000 yuan in newspaper, and give it to his wife for household expenses.

The next day, I heard that Chi Shiming had run back to Hong Kong.

Are you going to the Makan casino to try and win back your losses?

(End of this chapter)