The outside world likes to pay attention to the lives of wealthy businessmen and wealthy families.
The popularity of TV series and news attention all confirm this.
But compared to these, people actually prefer to see the decline of wealthy families. Su Yehao, who knew that he was already out of his league, had no choice but to act more cautiously.
Small problems in his private life cannot have a substantial impact on him, especially those that involve major issues, or that easily arouse public outrage, are the most critical.
So when Su Yehao heard Xiao Nizi say "work hard", he couldn't help but teach her to be careful when speaking and doing things.
The higher his net worth, the greater his fame and influence, which began to constrain Su Yehao, preventing him from being as casual as he was in the 1990s, lest he accidentally cause a scandal that shocked the world.
Regarding this aspect, this is more or less the reason why Su Yehao chose to retreat behind the scenes and rarely spoke publicly on Yinhai Weibo or gave interviews to the media.
Even some of his temporary positions in various companies were gradually cancelled, so as to avoid directly burning him if something happened to the company.
This is not just to shirk responsibility.
In fact, Su Yehao does not know as much about many assets as people think. For example, with regard to Moutai Distillery, he just looks at the quarterly financial reports, annual financial reports, and occasionally checks related news. He does not have any contact with them if he can.
He is relatively self-aware, and he knows very well that even if he takes action in everything himself, he may not necessarily do better than those professional managers, but may very well hold him back.
After all, the general direction of development in theory and actual business management are two different things.
therefore.
There seems to be nothing wrong with Su Yehao being in a semi-retired state. He has traveled to many places in the past two years. Even under such circumstances, his total assets have increased significantly by 100 billion Hong Kong dollars this year.
The Internet industry, which has recovered from its confusion, is performing better than he expected.
"Forbes" magazine's list of the world's 500 richest people has been published for a long time. Anyone who is interested can easily know his strength by making a casual estimate.
then.
The superiors took the initiative to extend an olive branch to him, hoping that the Yangtze River Power Generation Group, in which Su Yehao holds a majority share, could purchase a batch of more hydroelectric generating units for the Three Gorges Dam.
This was something that had already been negotiated, but it was just a little ahead of schedule.
Considering the Yangtze Power Generation Group's lack of cash, they even thoughtfully recommended several banks that were willing to cooperate and agreed to increase the pledge ratio to 90%.
This means that Su Yehao's Yangtze River Power Generation Group only needs to pay 10% of the purchase price to acquire ten more hydroelectric generating units, with a total value of approximately 45 billion yuan.
Very simple math problem.
If the loan is RMB 40 billion, calculated based on the bank's preferential one- to three-year loan interest rates, approximately RMB 2.1 billion in interest will be paid every year.
However, the ten sets of hydroelectric generating units of the Three Gorges Dam can generate a rate of return of about 9% a year, which is about 4 billion yuan, due to the interest rate difference of about 2 billion yuan.
Taking into account the need to pay interest on the Three Gorges debt, the need for funds for subsequent construction, as well as optimizing the debt structure and reducing capital costs, it is undoubtedly a win-win situation for Yangtze Power Generation Group to continue to buy more generating units in advance.
Su Yehao knew that this piece of fat was a bit big and would easily choke Yangtze Power Generation Group, which would take several years to digest, but he could not find a reason to refuse.
Through his mobile phone, he asked Assistant Zhuang Wei:
"The value of assets held has increased significantly this year. Can the upper limit of corporate mortgage loans be appropriately raised?"
"Yes, but I suggest you issue billions of yuan in corporate bonds in the name of Yangtze Power Generation Group. Its bond interest rate only needs to be higher than the bank deposit interest rate, but lower than our own loan to raise money. There is a certain gap in the middle.
interest rate spread.”
Assistant Zhuang Wei consulted with someone in advance before calling Su Yehao. She then suggested:
"Not only the Yangtze Power Generation Group, but other companies should also issue bonds and use the money from the bond market to exchange bank commercial loan interest. The market performance is very good now. Feng Tiancai and others have done a simple calculation and said that they can save more than one billion Hong Kong dollars a year.
Interest expense.”
Su Yehao has long understood that issuing corporate bonds is generally more cost-effective than borrowing from banks.
However, the scale of financing through bond issuance is not as good as directly communicating with banks for loans, and the performance of its assets in the past was not as good as it is now. The most important thing is that there are restrictions on the scope of use of funds.
Now the situation has changed.
A number of unlisted companies that were hatched through Su Yehao's investment began to have the ability to issue corporate bonds. Trying to raise funds in the bond market began to become his new choice.
The growth rate of various assets far outperformed bank loan interest. The hundreds of billions of Hong Kong dollars in debt borrowed from banks have always been Su Yehao's weapon to conquer cities and territories, not a burden.
It can be said that since investing in Yahoo in 1997, Su Yehao has played tricks on bank loans and staged a drama of "how to make full use of bank funds and quickly become the second richest man in the world."
If he hadn't chosen to cooperate with Forbes magazine and agreed to spend money on advertising there, he would have been the world's richest man in 2003.
On the issue of how to lower asset valuations, Forbes magazine really put some thought into underestimating the valuation of private companies by about $4 billion.
There is no other way. Wouldn’t it be nice to earn an extra $3.5 million in advertising fees a year and put it in your pocket? Anyway, there will be errors in the statistics...
now.
Thinking about trying to win the shares of the four major banks and get a share of their restructuring process, Su Yehao said to Assistant Zhuang Wei:
"You can try to issue corporate bonds of no more than 5 billion yuan, and give a large chunk of the loan order to Bank of China. This bank is expected to be restructured next year and transform into a joint-stock commercial bank. If I can hold 5% of the shares, or
If it is 10%, you will definitely make a lot of money. At that time, I will use actual cases to tell people that they have underestimated the potential of bank stocks."
Mainland banks have performed terribly in the past few years.
It has been on the verge of bankruptcy all year round. Even if the bad debts are stripped out, the performance is still not good enough.
In order to fulfill the agreement to join the WTO, the financial industry has ushered in new changes, and the introduction of foreign investment has become a foregone conclusion. However, Su Yehao felt that the timing was not good and the price of financing was too cheap.
It is almost inevitable to sell some of the hens that laid golden eggs at low prices. In the end, we will have to bring in foreign capital to share a big piece of the cake in accordance with the agreement.
Su Yehao cannot capture too much market share, so he plans to use Bank of China as an example to secretly attract the interest of other multinational capital, and then increase the value of mainland bank stocks through competition.
He no longer cares about this profit, which is similar to the shares of Yangtze Power Generation Group. He only regards it as a "piggy bank" and keeps it for dividends.
But just thinking about it would make Su Yehao happy by adding more trouble to the multinational financial giants and causing them to bleed more. It involves the interests of hundreds of billions of yuan. If you watch them being taken away by others, you will probably feel so distressed that you can't sleep at night.
Sleep.
It is not his character to do good deeds without leaving a name.
When I write a memoir someday in the future, I guess I can earn more royalties and make those so-called financial bosses angry...