As the controlling shareholder and actual controller of Nanhua Real Estate, Xiang Qiang used Nanhua Real Estate's holdings to mortgage and borrowed huge sums of money to acquire Wanbang Real Estate from many financial institutions such as Yuehai Bank. This is an extremely risky act.

When it comes abroad, maybe some capital tycoons are targeting it at this time and will not hesitate to short Nanhua Real Estate's stocks, break the strong capital chain, and make the strong liquidation, forcing the Nanhua Real Estate's stock price to continue to plummet. Although there is no short selling mechanism in China, mature institutional investors will avoid such high-risk stocks.

In this case, it is difficult to bring the market value of Nanhua Real Estate back to the 200 billion market value by relying solely on Huayuan Investment to the 5% stake by relying solely on Yuyuan Investment to lock in 5% of the shares without reducing the shareholding.

In this case, in addition to a large number of domestic investors who are accustomed to speculation, there is another possibility that Xiang Qiang also used a large amount of funds to secretly maintain the stock price of Nanhua Real Estate - the funds loaned by Xiang Qiang are likely to be consumed in this regard.

Of course, Zhao Yuan and Lu Wenbing may also take out some shameful funds to participate. Chen Li even suspected that he would buy 2% and 3% of Wanbang Real Estate in the near future. The two investment institutions that signed a joint actor agreement with Xiang Qiang are also Zhao Yuan and Lu Wenbing.

Only in this way can Zhao Yuan and Lu Wenbing gain Xiang Qiang's unreserved trust.

Moreover, Xiang Qiang almost used credit funds to acquire equity from the open securities market, causing such a big alarm in the market, but did not touch the regulatory red line of relevant departments. If there was no malicious indulgence from Zhao Yuan, Lu Wenbing and others, it was obviously not because Xiang Qiang had the ability to promote it at this time.

No matter which possibility, Chen Lilian, Xu Yuanzhou, Zheng Wenyuan, and Zhou Bin used 700 to 80 billion yuan to fish in the troubled waters, and it was quite pleasant to pluck the hairs by the geese.

In comparison, Han Zirui and the others are not that good.

Han Zirui used the nearly 4 billion funds raised to only increase the shareholding ratio to 22%, while Xiang Qiang also increased the shareholding ratio to 22%. Although Xiang Qiang did not take any action for several days in the next row, the restructuring of Wanbang Real Estate's board of directors will be put on the agenda. This is a difficult problem that Han Zirui and the others may not be able to overcome.

The day before New Year's Day, Chen Li took Zheng Wenyuan to Jiahu to attend the new round of investment promotion and recommendation meeting of Jiahu Guanlan Industrial Town. Zhou Li set up a small banquet at home to celebrate the year 2009 that the Gregorian Year is about to pass. Zheng Suxin and Lu Chuanxue have been in Pujiang for this period. Zheng Bingyang also caught up with the holiday and flew back to Pujiang to reunite with everyone.

Now Zhou Li has a B-ultrasound test, and the test shows that she is a pair of twins in her belly. Zheng Suxin takes Lu Chuanxue to live with Zheng Wenyuan, hires a driver, a gardener and a nanny, and also orders Zhou Li, who has been pregnant for more than five months, temporarily stops all her work and keeps her baby safe. She waits to give birth to the twins in early March next year before considering returning to work.

This time, Zheng Bingyang couldn't wait to buy a lot of baby products from Hong Kong and came back.

"You are all not young anymore, so you should consider getting married and getting married." Zheng Suxin saw that Zheng Bingyang still didn't even look at Chen Li, and couldn't help but sigh and advise them to consider major life events even if they look for someone else.

After the New Year, Chen Li and Zhou Bin are both 30 years old, and Zheng Bingyang is 28 years old. Even in any circle, he is considered an older young man.

Zhou Bin knew that Zheng Suxin was not targeting him, so he smiled and said, "Okay, I will listen to my second aunt and I will open my eyes and go out to the street to pick two wives back tomorrow."

"Now Xiao Zhou, you have the poorest mouth. I think Xiao Miao is very good. Why don't you develop it anymore?" Zheng Suxin asked angrily.

When Zheng Suxin mentioned Miao Jing, Zhou Bin's scalp became numb and he smiled and said, "She thought I was too stinking and looked down on me."

"I read the news report of Dongjiang Satellite TV. Guanlan Town's new round of investment promotion activities is quite good. In two years, the industrial system mainly based on chip manufacturing, design and biopharmaceuticals should be able to form a scale, right?" Lu Chuanxue came over now. What he talked to Chen Li and the others the most was his career. Even when he was currently worried about Wanbang Real Estate, he was always paying attention to the development trends of Xinchao.

"... It has been one and a half years since the construction of the Beijing-Pu High-speed Railway started, and the construction period is much faster than expected. It is expected to be opened to traffic at the end of one year. At that time, the regional advantages of Jiahu Guanlan Industrial Town will be fully displayed," Chen Li said with a smile. "Many investors have also understood this point. It is also the most suitable time for them to enter Guanlan Industrial Town at this time..."

Jiahu Guanlan Industrial Town is one of the two largest projects in Xinrui City. In addition to the industrial park with more than 7,000 acres and the forest zoo of nearly 2,000 acres, Xinrui City has increased the residential and commercial construction land in this project to 4,000 acres through a series of subsequent land auctions.

Like any super market developed by Xinchaorui before, the two super markets, Jiahu Guanlan Industrial Town and Bihai Xinrui City, cannot be sold out after the full construction is completed within two or three years.

The construction cycle of the Bihai Xinrui City plan is eight to ten years, while the Jiahu Guanlan Industrial Town involves industrial incubation and pregnancy. Although the construction cycle is eight to ten years, Xinrui City will continue to participate in the operation in the later stage.

The profits that Xinrui City can make from it are also closely related to its subsequent operations.

Therefore, Chen Li and Zheng Wenyuan invested much more energy in the project of Jiahu Guanlan Industrial Town than other projects.

Although Chen Li and his team had already started an industrial town project in Qingquan before the Jiahu project, Qingquan Jiahu Industrial Town is more of an experimental nature and has a limited total investment scale.

After the launch of Jiahu Guanlan Industrial Town, Xinrui City also launched three Guanlan Industrial Town projects in the suburbs of Shangdu, Guangcheng and Beijing. Therefore, in addition to its large scale, Jiahu Guanlan Industrial Town is also crucial for Xinrui City to successfully promote a new real estate business model that combines industry and city.

As of now, the construction of Jiahu Guanlan Industrial Town has been quite smooth in the past year and a half - the current investment in land transfer fees, infrastructure, etc. has exceeded 25 billion, but this year it has almost reached more than 2 billion in revenue.

By next year, the investment in Jiahu Guanlan Industrial Town will not be so much, and the income will be higher, and the funds will be balanced by entering and leaving the funds.

By the time of year, when the Beijing-Pu High-speed Railway is opened, Chen Li believes that the Jiahu Guanlan Industrial Town project will add a new explosive point to the profit growth of Xinrui City.

In the past year, important projects such as the first phase of the Bihai Xinrui City project, Ocean World Paradise, five-star hotel, sea levee and other important projects will be completed. By then, the Bihai Xinrui City will be the time to officially launch. Currently, a small number of finely decorated residential projects will be launched and will be introduced to the public at a price of 15,000 yuan per square meter, just a trial.

As for 2010, Xinrui City mainly focused on key projects that have been built such as Jinchen Yueyuan, Xinrui Star City, Jiahu Xinrui City, Qingquan Xinrui City, etc.

Especially Jinchen Yueyuan, Chen Li won this project in 2006 and positioned it as a top luxury house for construction, pricing and promotion. Countless people found it incredible, but three years later, Jinchen Yueyuan today can be said to have become a cash machine for Xinrui City.

In October, Jinchen Yueyuan's sales exceeded 2 billion yuan, and in November sales fell slightly, but there were also as many as 18, while in December it exceeded 2.2 billion yuan. In other words, in the fourth quarter, Jinchen Yueyuan's total sales revenue reached 6 billion yuan, accounting for almost one-third of the total operating income of Xinruicheng in the fourth quarter. More than half of the net profit of 4 billion yuan in the fourth quarter was contributed by Jinchen Yueyuan.

At present, after deducting all taxes and fees, Xinrui City's net profit in Jinchen Yueyuan project is as high as 40%, which many people find it incredible. Generally speaking, the accumulated taxes and fees in real estate projects are as high as more than 30%, which means that the cost of Jinchen Yueyuan in addition to taxes and fees has been reduced to less than 30%.

Chen Li predicted that Jinchen Yueyuan's sales revenue in 2010 will exceed 20 billion yuan, contributing more than 7 billion yuan of excess net profit to Xinrui City. In comparison, Xinrui City's sales in other projects in 2010 will reach 40 billion yuan and its net profit will reach 5 billion yuan, and its sales revenue and net profit will increase by 20% at the same time in 2010.

Of course, Wanbang Real Estate's performance this year is also quite good.

Although Wanbang Real Estate does not have a super-bright project like Jinchen Yueyuan, its layout in first- and second-tier cities is much earlier than Xinrui City, and its plate is also large. The real estate market has fully recovered, which has led to Wanbang Real Estate's annual operating income exceeding 100 billion for the first time this year and its net profit will also exceed 10 billion.

Considering that Wanbang's reserve construction land is currently the first in the industry, the real estate market continued to rise in 2010, and Wanbang's performance in all aspects maintained a 20% increase rate, which also makes Wanbang's current market value of 180 billion and 190 billion are not considered to be a towering peak.

Judging from the annual profit expectation of 12 billion next year and the market value of 180 billion, Wanbang Real Estate's price-to-earnings ratio will drop to fifteen times. This is actually the reasonable valuation range of large listed real estate companies in the industry.

In comparison, Nanhua is a bit bleak. Its operating income this year is expected to be barely the same as Xinrui City, but its profit level may be only about one-third of Xinrui City. Since the reserve construction land in hand is far lower than Xinrui City and Wanbang Real Estate, the projects that can be sold next year will shrink. At that time, it will be difficult to support the current market value of 200 billion yuan.

Of course, this is just the judgment of professionals like Chen Li on Nanhua, but it may not be recognized by the current securities investment market.

Those speculators who follow the trend and speculation are even less likely to care about the performance changes of Nanhua Real Estate in a year.

However, even if the prospects are good, the most serious crisis at present is a battle for control. Once the Zheng and Han families lose control of Wanbang, Wanbang Real Estate will have the best performance in the later period of tomorrow and will not have a particularly big relationship with them. They will even be liquidated by the new controller because of some of the previous transfers of interests that cannot be brought to the table, resulting in heavy losses.

The term of the board of directors of Wanbang Real Estate will be until February 17 next year, which means that in only two and a half months, Wanbang Real Estate will hold a new board of directors. At that time, Xiang Qiang will have the same director nomination rights as Zheng and Han through Yuehai Investment.

Since the holdings of Zheng and Han companies in Wanbang are hidden among many trust funds and investment companies, it is difficult to gain the trust of small and medium shareholders. If they really compete with Yuehai Investment in this way, they will inevitably be at a disadvantage.

"Your companies hold more than 4% of the shares in total and have the right to nominate new board directors from the shareholders' meeting..." After chatting for a while, Lu Chuanxue turned his chore to the upcoming election of Wanbang Real Estate two and a half months later.

"We have been forced to promise in front of Han Zirui and the others that we will hold no more than 5% of Wanbang within one year, and we will give up the right to nominate directors and give up the right to vote for the shareholders' meeting. Now we are back on our word, right?" Zheng Wenyuan directly cut off the conversation and said lightly.

"You have strong wings now, and you have made some stinky money and it has begun to expand, right? How do you talk to your uncle?" Zheng Suxin glared at Zheng Wenyuan and cursed angrily.

"That depends on whether my uncle is speaking to us on behalf of himself or on behalf of my uncle," Zheng Wenyuan smiled shamelessly, "If my uncle talks to us casually, to be honest, we have already made enough money from this mess this time. Whether it is good or bad, we don't care, and we are really too lazy to participate. Why - it's thankless and annoying, why bother to get into it? If my uncle wants to ask us for our opinions, we will at least finish the New Year first and see what chips can we make on our uncle's side, let's talk about it!"
Chapter completed!