Those Years When I Was Forced to Top the Forbes List

Chapter 377 The People Forbes Missed
Pujiang Hotel.

The parquet pattern on the century-old teak floor has been worn down and dented.

The champagne stain that seeped into the wood grain on the stair railing is a remnant from the Shanghai liberation celebration dance in 1949.

The hall, brimming with vintage charm, was exceptionally lively today. More than twenty waiters were preparing hot towels and perfectly chilled champagne and refreshments in the Peacock Hall, the largest dining room in the first-floor atrium.

The Pujiang Hotel will soon be converted into a museum, and there aren't enough waiters—they were transferred from elsewhere.

In Shanghai, dining options extend far beyond Huanghe Road. Many restaurants in Shanghai offer the most attentive service in the country.

Chen Xuebing arrived more than an hour early, and a brand-new dark brown sedan arrived just as he reached the entrance.

Bentley Elegance.

Kan Zhidong's.

It still has a Shanghai license plate.

This thing isn't cheap. It has a 6.75-liter V8 twin-turbocharged engine, is handcrafted, and takes an average of 17 weeks to complete. The total price for a fully customized set is close to 1100 million yuan, which is about 100 million yuan more expensive than the Spreadtrum Maybach.

The group originally intended to provide Lao Kan with a car worth around 300 million yuan, but Lao Kan has always been concerned about his image. He was detained by the Shanghai Economic Investigation Department and lost face there. His wife also developed a phobia of Shanghai. Now that he is returning to work in Shanghai, he naturally wants to make a grand return, so he specially asked a friend to buy him a luxury car.

When Kan Zhidong saw Chen Xuebing walking over, he was too embarrassed to ask the driver to open the door for him, so he hurriedly got out of the car.

Why did you walk here?

"We're so close by, and we're staying at a hotel on the Bund tonight, why would we need to drive?"

Chen Xuebing waved his hand. He personally didn't care about these things anymore, but the people around him did, so he had to explain again: "Old Lu ordered a limousine for me. It will arrive in a few months. After the next stock market settlement, we'll buy a business jet and put it in Hongqiao."

After saying that, he patted Old Kan's arm.

"Our Shenzhen laboratory has produced some leading technologies."

"Oh? Then the people in the lab should get a bonus!"

Kan Zhidong was also aware of Chen Xuebing's passion for technology, and he would always talk about science and technology at every meeting.

Chen Xuebing nodded: "Yes, I plan to adjust the funding plan and allocate a few hundred million more to Qidian so that they can build more of these kinds of laboratories."

"No problem! You can give it to them with peace of mind! Our trust has been approved, and Gu'an Construction needs money, which can be raised from the market! We just happened to have an appointment with China Overseas and Zhongtai Trust today, so we can talk about the channels. Changzheng can also wait! Give all the available working capital to Qidian, we're not in a hurry!"

"The Long March can't wait; you need to keep an eye on the investment banking business."

The two chatted as they quickly entered the lobby, and the doorman hurried to lead the way for them.

"President Chu!"

"Mr. Liu!"

The first group of guests arrived, and Kan Zhidong and Rong Xianwen, who had just returned to Shanghai, greeted them at the door.

Chu Xiaoming of China Overseas Trust is a compliance expert parachuted in from the banking system. He was formerly the vice president of the Shanghai branch of the Industrial and Commercial Bank of China and is an old friend of Wu Jiesi.

Liu Ying of Zhongtai Trust is a representative of private capital and an radical. He was formerly the general manager of the investment banking department of Hainan Huayin Trust and a veteran of the Delong Group. He was invited by fund manager Xu Jin.

This company is actually backed by Tomorrow Holdings, though Tomorrow Group is only a minor shareholder.

The financing amounts of these two trusts in 2006 were both around 10 billion yuan. These figures seem exaggerated, but in reality, most of the money came from banks. The money was simply used by trusts to go where it was supposed to go. Trusts became off-balance-sheet lending channels for banks.

For example, at the beginning of this year, the Shanghai branch of the Industrial and Commercial Bank of China (ICBC) injected 30 billion yuan into Greentown Group through Zhongtai Trust products. The business was actually negotiated between ICBC and Greentown, with Zhongtai Trust providing customized products and charging a channel fee of 2400 million yuan.

Currently, the asset management scale of Shanghai's trust industry has reached 1872 billion yuan, accounting for 28% of the national total. Most of the managed funds flow to this destination. Most trusts do not actually have the ability to raise funds from the private sector and operate their own investment products. In the eyes of private enterprises, they are "shadow banks".

"Mr. Kan, I heard you're planning to use Shanghai's industrial and commercial bureau channels to raise funds from wealth management clients?"

"Haha, yes! We've been approved for a $200 million foreign exchange investment quota! Actually, investors in Chongqing are very interested, and we can definitely handle this financing! But we've only just arrived in Shanghai! Our group is planning to get a loan from Pudong Development Bank and ICBC, and we also want to cooperate with ICBC's wealth management channels for future real estate trust business. So we're planning to set aside $50 million to try cooperating with ICBC in Shanghai first! Mr. Chu, you'll have to help with this! Make the arrangements!"

"No problem! Mr. Wu is an old friend of mine! I really envy you! A two-hundred-million-dollar channel, and such a strong willingness to finance from the private sector! If you have any good projects in the future, please take us along!"

"No problem, Mr. Rong is the General Manager of our Long March Trust. Please come up and have a seat! I still need to pick up a few friends!"

The first floor of the Pujiang Hotel is a restaurant, and the several empty offices on the second floor can be used as spaces for private conversations.

Also coming today are Feng Guorong from Kan Zhidong's former employer, Shenyin Wanguo Securities, and Shi Jingkui from Ping An Insurance. These institutions won't be as public as fund managers, but they are definitely more influential figures.

The list of invitees was small, less than twenty people, but they were all important figures with whom they might have future interactions, and all were key managers.

A gathering of the general manager and the chairman.

Guo Guangchang, Song Weiping of Greentown, Jiang Nanchun of Focus Media, Jack Ma, and Joseph Tsai came together.

Next was Dai Zhikang.

Liu Chuan's group also consisted of four people, including Jin Huiming from Dahua Group, Ma Chengliang from Shanghai Industrial Development, and Zhu Shengjie from Zhonghua Enterprise. All three well-known real estate brands from Shanghai were present.

After Chen Xuebing finished greeting Liu Chuan and his group of guests, he entered the Peacock Hall, which immediately became lively.

"Mr. Zhu!"

"President Dai!"

"Xiao Shi's here too! Long time no see! Ping An went public on the A-share market at the beginning of the month, and I bought 3 million shares, over 100 million yuan worth! How come the share price is still at 45 yuan? Do you have any inside information to share with the brothers?"

"Hehe, Mr. Dai, how would I know any inside information? As for the stock market, you should ask Mr. Kan. He's the real Midas touch."

Kan Zhidong burst into laughter: "The stock market has stabilized recently, and our performance has been so-so too, we're just lying low!"

Chen Xuebing stood by, smiling and silent, watching Kan Zhidong take the knife for him.

This was agreed upon by the two of them. Since Kan Zhidong joined the Long March, Chen Xuebing has handed over all the public appearances to him. As a result, there has been less unfounded speculation about the profits of the Long March, and it has taken on the flavor of a veteran elite capital operation.

Many people, upon seeing the name Kan Zhidong and learning about its origins, feel that it is only natural and should be this way.

Kan Zhidong's involvement was an important step in Changzheng's decision to distance itself from private speculative capital like that of Xu Xiang.

Image is very important.

On the other hand, Changzheng also bought a lot of Ping An A shares. The price was 46 yuan when the market opened on March 1 and closed at 45.53 yuan yesterday, Friday. This was due to the recent continuous fluctuations in the market.

The Shanghai Composite Index reached the 3000 mark as soon as it opened after the Lunar New Year, but this number seems to have a magical effect on the A-shares market, failing to break through for a long time. The confidence in the stock market's unstoppable advance has been somewhat eroded, and sentiment has been divided around this level recently.

Chen Xuebing knew the secret would be cracked soon, but there was no need to reveal the wealth code here.

"Hey, Mr. Chen, your business is booming! You're competing with Hutchison Whampoa in real estate, you're a sure winner in stocks, and even the steel industry is asking you for advice!" Guo Guangchang said with a hint of sarcasm. Hearing "Hutchison Whampoa," everyone turned to look.

"Oh." Chen Xuebing's heart tightened, he secretly observed Ma Yun's expression, and then laughed: "President Guo has quite a lot of information, he even knows about my business with Steel."

He didn't want to mention Li Ka-shing today, because he didn't want it to reach Wu Guangzheng's ears. For this reason, he didn't even invite Xu Rongmao, the most influential richest man in Shanghai. Upon hearing this, he quickly changed the subject to steel.

Fortunately, Guo Guangchang then dropped an even bigger bombshell, instantly grabbing everyone's attention.

"Nonsense! We first met because of your girlfriend's involvement with Nanjing Iron & Steel's stock. Mr. Kan was there too, right? Fosun is a major shareholder of Nanjing Iron & Steel! Have you forgotten? You guided Panzhihua Iron & Steel to buy up hundreds of billions of yuan worth of goods. Now, who in the entire Iron and Steel Association doesn't know that? Let me tell you, Chairman Zhang is furious with you. The Iron and Steel Association contacted Australia a step slower than Panzhihua Iron & Steel, and the raw material price increased by $5 per ton there! A 30 million-ton iron ore order, more than 3000 yuan more expensive per ton! If steel prices rise today, you'll be a traitor!"

Most of those present were real estate developers, and upon hearing this news, they immediately began to make their own calculations.

More than anything, there was astonishment.

This stock market maker is no ordinary person; his actions can drive up steel prices across the country.

Chen Xuebing laughed loudly: "How can you believe the China Iron and Steel Association for such a damn thing? Lao Guo, you're just jealous! Nanjing Iron and Steel doesn't have import qualifications, so it can only wait for second-hand ore and can only pick up the scraps left by the China Iron and Steel Association! If you believe me, hurry up and get the allocation quota from the China Iron and Steel Association, or it will really be too late!"

Guo Guangchang's expression changed repeatedly. Nanjing Iron & Steel is a major asset under Fosun Group. He is a well-known diversified tycoon in Shanghai. Fosun's five major sectors—pharmaceuticals, steel, real estate, finance, and retail—are all strong, which has always been a source of pride for him.

But compared to Panzhihua Iron and Steel Group, Nanjing Iron and Steel Group is indeed too small.

He said with a hint of dissatisfaction, "Hmph, don't be too smug. We're not going with the China Iron and Steel Association this year. We've already acquired the equity of the Shilu Iron Mine in Hainan, with an annual production capacity of 350 million tons. This is a genuine first-hand mine."

Chen Xuebing chuckled: "Aren't you being too confident? If it weren't for the depletion of open-pit resources, aging equipment, and excessive debt at Shilu Iron Mine, do you really think it would be your turn? I saw them listed on the Shanghai United Assets and Equity Exchange before the new year. Why do you think I didn't make a move? I'm sure you won't even be able to mine 250 million tons this year. Listen to me, sign the pricing contract with the China Iron and Steel Association as soon as possible, get a share, and you can make some money in a few months."

The banter between the two revealed a lot of important information.

The other big shots looked bewildered, feeling like idiots.

I silently sighed to myself: It has to be a diversified conglomerate. They even manage to get intelligence on raw materials, but their understanding of industry trends mostly comes from speculation among their peers and some government connections.

Liu Chuan, somewhat confused, laughed and patted Chen Xuebing on the shoulder, saying:

“We’re all brothers! Why compare these things! We’re comrades in arms! Xuebing, about this overseas deal, Guangchang, Zhiqiang, and I are all planning to increase our positions! Tell me, what are our chances of success?”

Chen Xuebing rolled his eyes inwardly. This guy didn't know anything and was even planning to come up and mediate the fight.

He was revealing crucial intelligence to Guo Guangchang.

Such intelligence doesn't benefit others much. They know steel prices are rising, but they can only order some steel in advance. Guo Guangchang is the one who can truly buy at the bottom of the steel price.

However, these words further confirmed Chen Xuebing's identity.

He also has overseas investments! Even members of the Taishan Club like Liu, Guo, and Lu are investing with him!

"It cannot be said, it cannot be said," Chen Xuebing said mysteriously with a smile.

When I contacted Goldman Sachs through Liu Chuan, he warned me that this deal could be very profitable, but there might be lawsuits afterwards, so I should keep a low profile.

"Oh, oh!" Liu Chuan's mouth formed an "O" shape, and his laughter echoed throughout the hall: "Yes, yes, yes! Let's chat later, let's chat later!"

Guo Guangchang was also pondering carefully. Chen Xuebing's insight was sometimes frighteningly accurate. Take overseas investment for example. He thought that a soybean could earn tens of millions of dollars in three months. At first, he didn't believe it at all, so he only invested a meager three million. It was only after personally participating in it this time that he realized how formidable Chen Xuebing was.

Chen Xuebing's assessment of overseas iron ore mines was something he had to take seriously.

He also wanted to inquire about short selling of overseas real estate, as Fosun is currently in talks regarding its copper mine in Canada and its investment in Club Med in France, and is short of US dollars.

He pulled Chen Xuebing aside, ordered two drinks from the waiter, and started a private chat with Chen Xuebing.

Chen Xuebing rarely encounters anyone in the business field with such a broad perspective as himself, and he finds it very interesting to discuss things with them.

The other big shots could only be secretly envious.

Guo Guangchang ranked ninth on the Forbes China list last year with a personal net worth of 90 billion yuan. Guo Guangchang holds shares around the 51% threshold, so Fosun Group is worth at least 180 billion yuan. Their controlling entity, Fosun International, is also going to be listed in Hong Kong this year. Currently, the valuations of Hong Kong stocks in the real estate, pharmaceutical, and retail sectors are very exaggerated. Once the whole group is listed, Guo Guangchang's net worth may multiply several times.

Fosun might just become the first private conglomerate in mainland China to reach a scale of 100 billion yuan.

This Mr. Chen from Gu'an seems to be even more extraordinary.

That's strange, why isn't he on the Forbes rich list?
This Forbes ranking doesn't seem to be working either!
These are the heartfelt words of the bigwigs; even Forbes would be moved to tears upon hearing them.

Last year's list was registered in July and August. At that time, Gu'an's income mainly came from the stock market. They didn't even pay taxes on this money. The private equity industry is also very secretive. Qidian was a pirated mobile phone factory at the time, and Gu'an Construction was a small engineering company. How could they possibly find out?
The only clear asset clue is Spreadtrum Communications, a company that only started to turn a profit after October.

Once they started winning, they couldn't stop and took over half of MediaTek's mobile phone market.

In just over six months, the spire of Gu'an Tower, which had been above the water, slowly rose, allowing people to see part of the outline of the magnificent building below.

For nearly half an hour, everyone in the hall chatted about their own things. After Chen Xuebing and Guo Guangchang finished their conversation, their relationship had clearly grown much closer, and the two of them joined different circles together.

Guo Guangchang and Jiang Nanchun had a good relationship, and Fosun was a potential investor in Focus Media. So Chen Xuebing brought along Guo Guangchang and Ma Yun, a shareholder of Huayi Brothers, to talk to Jiang Nanchun.

Around 6 p.m., Jiang Nanchun agreed to sell 10% of Huayi Brothers' shares for 30 million yuan.

At that moment, four eye-catching figures strode in from the door of the private room.

"Oh dear! I'm late, I'm so sorry!"

Two striking figures caught everyone's attention.

Two ice creams.

Fan Bingbing, Li Bingbing.

Plus two brothers.

Wang Zhongjun, Wang Zhonglei.

The two of them didn't know who President Chen was; they only knew that everyone present was a big shot. As soon as they entered, they led the two celebrities around to greet everyone.

Ren Ying, who brought the people in, came over and explained, "They brought two celebrities with them. They were almost mobbed on their way here, so they're late."

Chen Xuebing and the three people beside him exchanged glances and laughed.

"Tell them to come earlier so we can talk together. They brought two celebrities, and they only arrived after we finished talking. Oh well, there's nothing to talk about anyway. Let's just inform them about the equity change later. Tell the waiter to bring the food. Let's eat."

All three of them laughed.

There's really nothing to talk about.

In that circle, the decisions are always made by that circle itself.

(End of this chapter)