Hong Kong Island Chronicles: From Electrical Appliances King to Business Legend

Chapter 84 Gold Investment About to Close

It was a little after 8 p.m.

Ring ring ring!!

The phone rang at Li Jiagang's home.

"Hello, Li residence, who is it?" Li Junjie answered the phone.

"Is that Junjie? Where is the young master?"

"Boss, it's you!" Hearing his older brother Li Junhua's voice on the phone, he instantly became excited. "Young Master is watching TV."

"Please have the young master answer the phone."

"Okay, wait a moment."

He put down the phone, strode over, and said, "Young Master, it's my boss on a long-distance call."

"Junhua is calling?"

Li Jiagang walked over quickly.

After calculating the time in his mind, he roughly guessed the content of Li Junhua's call.

"Hello, is this Junhua?"

"Young Master, did I disturb your rest?"

"No, I'm still watching TV."

"It's good that we didn't disturb the young master's rest. Manager Wang was planning to report the situation here to you."

"Okay, let him report."

"Yes, young master."

A moment later, Wang Fusheng answered the phone.

"Hello, Mr. Li."

"Yes, you too."

"Are you all doing well over there?" Li Jiagang asked with concern.

"Thank you for the bodyguards Mr. Li sent. With their protection, everything is fine."

"That's good. How's the gold situation?"

"Based on my experience, I predict that international gold prices will continue to rise."

"But you instructed me, Young Master Li, that if the price of gold rises to $235 per ounce, I must report to you."

"At the close of trading today, the international gold price was $234.78 per ounce, so I need your instructions."

"Has it risen to $234.78 yet?"

"How much did we pay for it?"

"Average price: $175.77 per ounce."

"I've made $59.01 per ounce so far." Wang Fusheng was unusually excited when talking about how much he had earned.

In just one and a half months, he earned $59.01 per ounce.

Historically speaking, this increase is not considered very large.

But unfortunately, they invested a lot of money.

A whopping $3.9 million was invested.

Based on the purchase price of $175.77 per ounce, one lot is $100 per ounce, and a 10% margin is required.

That means 175.77 yuan per lot × 100 yuan per ounce = 17577 US dollars.

17577美刀还需要支付10%保证金=1757.7美刀，按17577+1757.7=19334.7美刀一手。

Li Jiagang invested a total of US$3.9 million and completed a single transaction at a price of US$19334.7, which allowed him to purchase 20171 lots of gold.

If all the units are sold and cashed out at the current price, one lot would be worth $59.01 (100/ounce x 5901).

20171 lots × $5901 = approximately $1.19 million, which is the amount of profit.

Although taxes, margin fees, brokerage service fees, commissions, etc. still need to be paid, the net profit is still over one hundred million US dollars.

Keep in mind that this was only half a month, and they earned 1 million US dollars.

That's a whopping 5.6 million Hong Kong dollars.

In Wang Fusheng's view, it was absolutely a huge profit.

If this investment data were to be leaked, it would certainly be regarded as a case study worthy of learning and analysis by countless experts and students.

How could he not be excited?

"Has it risen to $234.78 yet?"

Li Jiagang was making plans in his mind.

"If all transactions are completed, how long will it take you to cash out completely?" Li Jiagang asked. He needed to confirm this before making a decision because he knew that gold still had nearly $7 of appreciation potential.

"Based on the current gold price trend, I am confident that all transactions will be completed within two days."

"Within two days?"

Having received a definite answer from Wang Fusheng, he made up his mind.

"Okay, when the price of gold rises to $238 per ounce, we'll start taking delivery and cashing out."

"Remember, all deliveries must be completed before the price reaches $240 per ounce."

"Yes, Young Master Li."

""

"By the way, how much are the taxes over there?"

Li Jiagang was also aware that the taxes levied on investments in the United States were outrageously high, to the point of making people question their existence. He had previously read a report that suggested the tax rate for stock market profits could be as high as 30% or more.

However, he read the report in 2013, and he was unaware of how much tax was required in 1978.

"Young Master Li, although the tax rate will be higher, I have a way to keep it below 10%."

"That means if you earn 100 million, you need to pay about 10 million US dollars in taxes."

Upon hearing this, Li Jiagang finally breathed a sigh of relief.

He can accept a 10% tax rate, but if it were more than 30%, he would be heartbroken.

"Okay, that's settled then."

"Alright, goodbye, Young Master Li."

After hanging up the phone, Li Jiagang returned to the living room and continued watching TV with Chen Wenyu in his arms.

However, the television sets of that era were indeed difficult for Li Jiagang to watch.

During 1978, the largest television screen produced by major manufacturers around the world was only 19 inches. Although it was already in color, it was only a three-color base and not a full-color television.

Moreover, the technology was inadequate, and the network signal was poor, resulting in a screen full of static and flickering.

In his original timeline, he was used to seeing huge television screens, so seeing this tiny screen now was indeed very uncomfortable for him.

My eyes hurt from looking at it.

"Brother Hong, who was that just now?"

"It was Junhua who called back from the United States."

"Oh," Chen Wenyu nodded, then, remembering something, she asked, "By the way, Brother Hong, when I was reviewing the company's accounts, I discovered that you had a personal account with a sum of HK$130 million that was transferred to multiple overseas accounts through Citibank at the end of September. You were aware of this, weren't you?"

Upon hearing this, Li Jiagang raised an eyebrow and looked at her with suspicion: "How did you know?"

Seemingly sensing the change in Li Jiagang's mood, Chen Wenyu replied somewhat timidly, "I—I also discovered this matter in the accounts that President Huo gave me. I'm worried that you don't know about it."

Li Jiagang nodded slightly.

"I know about this," Li Jiagang said in a gentler tone, "but afterwards, you don't need to concern yourself with where my personal funds go."

There were some things that Li Jiagang didn't trust Chen Wenyu about, but rather that he didn't want too many people to know.

After all, the more people who know about this, the greater the chance of it being exposed.

If one day he invests in the stock market and makes such a large profit, he will definitely attract a lot of trouble, and may even be targeted by others.

"Brother Hong, I'm sorry," Chen Wenyu quickly apologized to him. "If I did something wrong, you must tell me. I didn't mean to."

Looking at her frightened expression, Li Jiagang felt he had been too sensitive.

"It's alright," he said, pulling Chen Wenyu into his arms. "It was just that my tone was too harsh. I didn't want too many people to know where this money went, so my tone wasn't very nice. Let's watch TV."

Seeing that Li Jiagang did not blame her, Chen Wenyu breathed a sigh of relief and hugged him tightly.

Ring ring ring!!

The phone rang again.

Li Junjie went over to answer the phone again.

"Hello, this is the Li residence. Who is this?"

"Mr. Li, it's me," the person on the other end of the phone said excitedly. "I've found out what you asked me to investigate, and I'll send it to you right away."

"You found it?"

"Yes, please accept this."

"That's great, thank you for your hard work."

Shortly after, Li Junjie, carrying the faxed documents, jogged over to Lijiagang and whispered his report. Upon hearing this, his pupils dilated.

"Wenyu, you look first, I need to take care of some things." Without waiting for Chen Wenyu's response, he led Li Junjie to the study in a hurry.

In the study.

"Give me the information quickly!"

Li Jiagang took the documents and immediately began browsing them.

The more I looked at him, the more his brows furrowed, and his expression grew increasingly grim.

In the end, he was filled with murderous intent.

"Bang!!!"

Li Jiagang slammed his fist down on the desk.

"Junjie, get the car ready," he said through gritted teeth, "go find Uncle immediately."

"Yes, young master."

Around 9 PM.

Li Jiagang went to his uncle's house.

Also in the study.

As Li Yongsen looked at the information brought by Li Jiagang, the more he read, the more murderous intent filled this seasoned man.

"That damn thing."

"I never imagined that it was this group of people who orchestrated this. Yongheng, you're so foolish!"

""

When Li Yongsen called out his father's name, his voice trembled and his eyes instantly turned red, as if he had used up all his strength to utter the words.

"Uncle, please take care of yourself."

Li Yongsen ignored Li Jiagang's words. After a moment of grief, he looked at him sharply and asked, "Jiagang, how do you plan to resolve this?"

"Uncle, this grudge must be avenged," Li Jiagang said fiercely, his eyes half-closed. "But we need to plan carefully and strike decisively to destroy them."

Do you have any plans?

Li Jiagang shook his head helplessly.

"Don't worry, Uncle," Li Jiagang assured him, "I have already arranged for people to investigate all the details of Hang Lung Bank and Han Jiale. I believe we will have news soon, and then we will look for a breakthrough."

Upon hearing this, Li Yongsen could only nod.

He can't think of a good way to deal with them right now, so he can only wait for another opportunity.