Chapter 437 The side business earns more than the main business
This trip was nominally to accompany my father to inspect the Midland Group.
However in reality.
It also feels like running away, as my body and bones are really struggling.
I remember that I was peeing in the wind, and now I am out of breath even when I take a walk. I use the excuse that wolfberry tastes good. I still feel a little overwhelmed after several large cups a day, plus all kinds of rare delicacies.
This made Su Yehao understand why rich ladies in Hong Kong City like to buy supplements such as fish maw, sea cucumber, abalone and bird's nest.
On New Year's Day, Nong Qingying's father broke his arm while going fishing and spent two weeks in the Earl's General Hospital in Sheung Wan. He just returned home to recuperate. Her plan to return to Tokyo was delayed because of this, and she is still in the port city until now.
With Xiao Nizi turning a blind eye, Jiang Yu became more and more unscrupulous and got a taste of the sweetness.
I have been dancing for more than ten years.
Although Jiang Yurou is weak and weak, he has very good physical strength.
Even Yin Liuli comes to Hong Kong City from time to time to find an accountant to review the accounts of Taotaoju Hotel and handle some tax matters.
Everyone is here, of course Su Yehao wants to entertain them.
If this trend continued, he always felt that he was going to be cold, so when he learned that his father was coming to the mainland for inspection, he immediately found an excuse and followed him over.
…
Out of Pengcheng.
Get on the highway and go straight to Fochuan.
More than 100 kilometers away, about two hours away, in addition to the two ceramic tile factories it first acquired and the Midi Group that later financed it, Sihai International also invested in some hardware, door and window processing plants in Fochuan.
Not only to keep the supporting building materials for my own use, but also because I am optimistic about the potential of the real estate market in the mainland and want to make arrangements in advance to seize the upstream and downstream markets.
The business of Sihai International Group is gradually transferred to the mainland. The real estate business in port cities and casinos is still cool in the short term. The business is not as large as the mainland, and the market is not as big as the mainland. The casinos will return to the mainland at the end of this year, and the celebrations are already being prepared.
.
Recently, I have learned from Mr. Su and the number of businessmen who want to develop in the mainland has been increasing.
In the early years, many people were too lazy to pay attention to this market. No matter how large the population was, it was of no use if they couldn't make money.
However, now, the economic growth rate in the north is so fast that people are surprised. When they first acquired the land in 1997, some people still laughed at Mr. Su for his lack of vision. Later, when the Hong Kong property market collapsed, they all changed their tune and praised him for being smart. This is quite realistic.
…
After arriving in Fochuan, I accompanied my father to inspect several building materials companies under the group.
Su Yehao watched the flowers on horseback.
He doesn't even bother to manage his own business and is certainly not interested in these small companies.
However, judging from Dad's investment in building materials, it can be regarded as broadening the development path of Sihai International. Whether it is building materials or home appliances, they are closely related to the real estate industry, surrounding a large market that has been hot for twenty years, among which
The dividends are considerable.
It was only January 1999, and several leading real estate stocks with a market value of several billions had already been born in the stock market. The market was far from reaching the stage of explosive growth. Nowadays, the competition is small and there are not many private companies with the strength to participate.
.
The Su family concentrated on developing the cultural tourism city, which actually saved a lot of trouble.
Other real estate companies earn some hard money, and projects are popping up all over the place. They are forced by interest rates to pursue a high turnover rate. They start construction soon after acquiring the land, and start selling soon after starting construction, so as to earn profits from building houses.
Su Yehao persuaded his father to acquire two pieces of land and develop them while waiting for appreciation in value. Some of the developed real estate was also planned to be self-operated.
If they are sold until ten years later, the two projects have the opportunity to earn tens of billions.
Investing in real estate companies does not necessarily mean you will make more money if you hold more land or develop more projects.
Su Yehao believes that following the example of large real estate companies in Hong Kong and taking the high-end route is more in line with his own situation.
With his help and support, he is rich and not short of money. Taking the route of high debt and high turnover is equivalent to working for the bank. Sun Hung Kai, Wharf and the like mostly rely on long-term holdings of real estate to grow to the scale they are today, and fully enjoy
When you get dividends from real estate appreciation, you can also collect rent.
It's been a long circle.
We set off in the morning and arrived at the Midi Group headquarters in the afternoon.
The company executives received the news and stood at the door to greet them in advance. It was hard to imagine that a company with a valuation of 8 billion yuan had its headquarters in the old building behind them.
Last year, Midea Group implemented business department reforms, and the results were immediate.
Each department was spun off separately, and some new technologies were acquired at the same time. Starting from the middle of last year, the performance has reversed its decline, and the net profit is expected to be between RMB 500 million and RMB 600 million.
[To be honest, I have been using Yeguo to read and catch up on books recently. I can switch sources and read aloud with many sounds. www. Android and Apple are available.]
This is why Su Yehao believes that its valuation has exceeded that of when Dad first raised funds, reaching at least 8 billion yuan.
The newly appointed general manager’s surname is Qian and his first name is Qian Wanhao.
This former president of Hitachi Co., Ltd.'s China region, when he was discussing technical cooperation with the Midi Group, Mr. Su contacted him several times and poached the Midi Group after repeated visits.
The main reason why we chose to airborne is that there are many hills in the mainland of Midea Group, and conflicts arise from time to time, which goes beyond the scope of healthy internal competition.
So relying on Father Su who had the support from above, he decisively put Qian Wanhao in.
On the way to Fochuan, Su Yehao heard his father mention it, saying that he thought this guy's name was auspicious and could bring wealth.
With his old man's character, Su Yehao always felt that Qian Wanhao was able to become the general manager partly because of the glory of his name.
After the company changed its name to Su, the influence of the previous management team was very small. Taking advantage of the reform of the business department, many people were eliminated and left the company.
At this moment.
Manager Qian shook hands with Su Yehao, smiled from ear to ear, and said:
"I have long wanted to meet you, young master. You are worthy of being the president of the investment department. You are indeed young and promising. The profits made by the entire company last year were not as much as what you made. The other shareholders are so happy that they must give it to you tonight.
Here’s to a toast!”
Midea Group's estimated profit last year was RMB 500 to RMB 600 million, which did not include the income Su Yehao earned from helping with financial management, because the money was still sitting on the Nasdaq stock exchange without settlement.
At that time, Father Su made the final decision and took the money and gave it to Su Yehao to take care of.
Later, Su Yehao misappropriated the money and soon paid it back. Most of it was used to buy Amazon stock, and then he ignored it until he has made a profit of more than 900 million yuan.
Sometimes, he himself forgets that he also holds the concurrent position of senior vice president of Midea Group.
Hear the words.
Su Yehao glanced at his father, silently laughing at him for not investing the money in him in the first place, and said:
"No, I'm just lucky. If the company is short of money, just say hello and I'll bring it up at any time. Financial management makes a lot more money, but the risks are also quite high. Mr. Qian's job is more important, and home appliances are the main business."
"Hey, that's what I say, but without your help, Mr. Su, the money on the company's books can only be deposited in the bank to earn interest. How could it be as prosperous as it is now? I mentioned it to the reporter last time that the side business is more profitable than the main business.
"Many, after the news about making money through financial management hit the news, it made others envious, and even stock investors before delisting came and smashed our glass, it must be out of jealousy."
Mr. Qian laughed and flattered Su Yehao, not caring about the presence of his subordinates.
Emotional intelligence is quite high.
I know it’s better to praise Su Yehao than to praise Su Yehao in ten words.
Father Su was indeed so happy that he couldn't help but tell him: "It just so happens that when you get the money back one day, you can buy a piece of land to build a new headquarters building..."