My Age of Investment

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"No money again?"

After the flag presentation, Xia Jingxing heard a "bad news" just after returning to his office.

Deng Yuanjun handed Xia Jingxing a financial statement with a bitter smile and said, "All expenditures are on this form."

Xia Jingxing frowned and took the report, then immersed himself in reading it carefully.

At the beginning of the year, US$10 billion was injected into Fuxing Industrial from overseas, which was equivalent to approximately 68 billion yuan based on the exchange rate at the time.

Then, under Xia Jingxing's command and instruction, the subordinate units of Fuxing Industrial began to spend money lavishly.

The acquisition and capital injection of Wuling Motors and the purchase of GM's Buick Excelle passenger car technology cost a total of 20 billion yuan. In addition, Liucheng still owes 6 billion yuan in investment commitments that have not been fulfilled and will be invested in batches in the next few years;

Fuxing Zhijia privatized four listed companies: Kelon (including Rongsheng), Supor, Little Swan and Skyworth, with a total cost of about 15 billion yuan;

The seven integrated circuit colleges, two aerospace colleges, and other school-enterprise co-construction projects jointly established by Fuxing Industrial and a number of universities will invest 2.5 billion yuan in the first year to improve the teaching level of colleges and universities, including strengthening teaching staff, experimental In the next five to ten years, Fuxing Industry will also invest RMB 1 billion to RMB 2 billion in education and student aid funds every year in the next five to ten years;

Fuxing Semiconductor, Cloud and Intelligence Business Group, and Research Institute are even bigger spenders, each taking away 5 billion yuan in development and research funds;

The aerospace business group and the new energy business group are still at a relatively early stage of development. Each has received 2.5 billion yuan in funding from the group, which is mainly used for drone upgrades, space rocket project approval, power battery and photovoltaic project research and development, etc.

Sunchi Real Estate has also received RMB 2.5 billion in development funds. Together with the bank loans leveraged by these funds, it is enough to complete the construction of tens of billions of real estate projects.

At present, Sunco is frantically acquiring land in first-tier cities such as Beijing, Shanghai, and Pengcheng. However, it does not speculate on land. The land it acquires is only used to build employee communities and children's schools.

All these major expenditures were added together, and the amount unknowingly exceeded 60 billion yuan. Xia Jingxing was speechless for a while.

He felt like he didn’t spend much, so why were there no 600 small goals!

When women spend money on shopping, most of them feel the same way as him. They have obviously restrained their desire to spend money, but why do they feel a little scary when the bill comes out?

The only thing that made Xia Jingxing feel gratified was that Fuxing Mall and Fuxing Electronics Group did not require funding from the parent group. The two companies had already achieved self-sufficiency.

Since Fuxing Mall has an asset-light operating model, it mainly operates and maintains an e-commerce website, selling mobile phones, home appliances, and drones. The labor costs are not large, and R\u0026D is almost equivalent to none. Logistics completely relies on Jingxi to achieve revenue. Balancing is easy.

Needless to say, Fuxing Electronics, the flagship business of Fuxing Mobile, has achieved full profitability as early as last year, and it achieved full profitability after all R\u0026D costs were amortized and R\u0026D investment continued to increase.

There is no other reason. Once the shipment volume of high-end mobile phones exceeds the critical point of one million, the gross profit margin and net profit margin will directly explode. Once the shipment volume reaches tens of millions, it will be a printer running at full power. Money machine.

Fuxing Mobile achieved a total sales volume of 16.17 million units in 2008. The total revenue for that year exceeded 60 billion yuan, and the gross profit was nearly 25 billion yuan. After deducting various costs such as manpower, research and development, sales, and taxes, the net profit was approximately 15 billion.

In the first half of this year, Fuxing Mobile sold a total of 8.89 million mobile phones. Since Fuxing fx2s has only been on sale for a month, there will be a period of rapid sales growth in the second half of the year compared with the first half of the year. Sales in the second half of the year are expected to be 15 million to 20 million. department.

Even based on the shipment volume of 15 million units, Fuxing Mobile can generate at least about 100 billion yuan in revenue this year, with a gross profit of about more than 40 billion yuan and a net profit of more than 25 billion yuan.

The 2009 Fortune 500 list was officially released two days ago. Against the background of the outbreak of the financial crisis, the threshold for entry into the list has increased significantly.

Last year, Conscience Company became one of the only 43 Fortune 500 companies in China with an annual revenue of US$16.78 billion in 2007. It also won the honor of being the first Chinese private enterprise to be included in the Fortune 500, ranking 499th. Unparalleled in the limelight, it attracted worldwide attention.

This year, the conscientious company that was already at the bottom of the list failed to make the cut. The company that replaced it at No. 499 was Hualco Group, with total revenue in 2008 of US$18.58 billion.

Fuxing Electronics' annual revenue has been very close to the threshold for entry into the Fortune 500 list in the past two years. As long as the entry threshold for next year is slightly lowered, it may replace Conscience Company as the number one private enterprise.

Moreover, Fuxing Electronics Group is only a sub-group of Fuxing Industrial, with six smaller brothers.

If Fuxing Industrial Holding Group applies for the Top 500 selection as a whole company, it will almost certainly be included in the list next year.

Because the revenue of the home appliance business is very huge, for example, Skyworth's annual revenue is about 20 billion, Kelon's is about 10 billion, Little Swan and Supor each have more than 4 billion, and with Little Bear Electric, Fuxing Smart Home Group's annual revenue can reach 40 billion.

However, the profit margin of the home appliance business is not high. Except for Skyworth, which has an annual net profit of more than 1 billion, the annual net profits of the other three companies are only about 2 to 3 billion.

Overall, Fuxing Smart Home's net profit margin is less than 5%, which is more than five or six times worse than Fuxing Mobile.

After reading the financial report in his hand, Xia Jingxing felt mixed emotions.

The good news is that Fuxing Mobile basically does not need any more capital injections from the parent group. Even if it invests 10% of its revenue every year, that is, tens of billions of dollars, as R\u0026D investment, it will not have the slightest impact on the capital chain;

The worry is that the revitalized industrial system is too huge. It's not that he spends money excessively, but that the industrial blueprint he draws is too big and requires a very large investment to turn the pie he has drawn into reality.

"Although 60 billion has been spent in just a few months, it has basically solved the R\u0026D investment, capital operation and other problems of major business groups and sub-groups this year and even next year."

Xia Jingxing looked up at Deng Yuanyun and asked, "Do you think we spend money too quickly? Or do you think we should be more restrained?"

Deng Yuanjun smiled and said: "Although the 10 billion US dollars of funds were quickly spent, I still think there is no big problem.

It’s just that I’m in charge of finances and feel a little panicked mentally! "

Xia Jingxing smiled and waved his hands, "Why panic? Don't panic!

Starting next year, Fuxing Mobile will hand over part of its profits to support the development of its brother companies.

In addition, Fuxing Zhijia has completed the privatization operations of several listed companies and is basically self-sufficient.

What really needs long-term investment are the big money-burning companies such as Fuxing Semiconductor, Cloud and Intelligence Business Group.

If we are really short of money, wouldn't we still be able to borrow money and issue corporate bonds?

When we are selected into the Fortune Global 500, our corporate credit rating will definitely go up several levels.

Take another ten thousand steps back and say, isn’t there still me? I can always inject a second $10 billion into Renaissance Industries. "

Deng Yuanyun laughed, nodded and said: "Okay, Mr. Xia, I understand, I am worrying unfoundedly.

Then we don’t have to have any psychological burden, we can just go ahead and get started quickly, spend the money in a short time, exchange it for real technical capital and industrial advantages, and exchange money for time. "

Xia Jingxing smiled and nodded, "Yes, otherwise why would I inject 10 billion US dollars into Fuxing Industry? Wouldn't it be better to let Fuxing Mobile develop one after another?"

Time is precious, competitors will not wait for us, and neither will technological innovation. "

"Oh, by the way, Mr. Xia, there is one more thing I want to report to you!"

Xia Jingxing noticed a hint of joy in Deng Yuanjun's tone, so he looked at him curiously.

Deng Yuanjun smiled silently at first, and then announced the good news: "The first phase of the Yizhuang Headquarters Park project has been officially completed, and the final acceptance is in progress.

If there are no major problems, the entire headquarters will be moved to Yizhuang in a few months to get rid of the current unfavorable communication environment in which various departments and business groups work separately.

Working together is more in line with our current corporate image and is also more convenient for management. "

A smile appeared on Xia Jingxing's face, "This is good news! We have been looking forward to it for so long, and our Beipiao clan is about to become one of the top 500 in the world, and we have finally settled in the capital."

Deng Yuanjun laughed loudly, "That's our company, but if it were other companies, the real estate projects that were selling sheep over dogs have already become popular. Maybe several residential complexes have been sold out."

The corners of Xia Jingxing's mouth twitched. This issue was quite sensitive and he refused to comment.

"By the way, how is the construction of the Fuxing Building in Shangdi going?"

Deng Yuanjun replied: "Because it is a super high-rise building and the building area is relatively large, if you want to move in, you will have to wait until next year at the earliest."

Xia Jingxing nodded slowly, "Okay, I understand. Don't be in a hurry. Let's build it slowly. After all, it is a landmark building, so we need to take it seriously."

"By the way, have you heard about the equity restructuring of Conscience Group?"

Xia Jingxing suddenly turned his head and looked at Deng Yuanyun, who instantly understood the boss's eyes.

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