What’s Wrong With Me Being a Rich Man?

Chapter 116 Level (5k)

Yu Xing stood behind Lu Haiying and focused on the user who was read out on the screen to speak.

Jiahan Forestry, as the name suggests, is mainly a forestry company.

Seeing that his senior brother had not spoken, Lu Haiying looked back and smiled and said, "Senior brother, this is in line with our topic? Can you understand it?"

Yu Xing smiled slightly, shook his head and said, "I can't understand, it's interesting."

Lu Haiying said "um" and pulled down the web page. This very suitable "Jiahan Forestry" did not receive much discussion, and there were only some comments "I also want to be such an intermediary."

Yu Xing withdrew his gaze and did not immediately check the relevant information about the suspected target, and said, "Don't delay your time in the car, I see you two are leisurely."

Zhong Zhiling responded with a smile: "I'm sitting here leisurely, Brother Xing, it's very strange. I actually feel very enjoyable. Alas, Bai Xiaosheng doesn't seem to have been for too long, but why do I feel busy for a long time?"

He took the cigarette thrown by his senior brother, but did not ignite it, and said thoughtfully: "From last summer to now, if you count this way, it will take a longer time, and it seems that you have been running on the road. Today..."

I sat in the company that was already on holiday today, looking at the word "Fu" posted on the window, thinking that I was about to go home to see my parents, and somehow, I enjoyed this moment particularly.

"Okay, I haven't made a lot of money yet." Yu Xing smiled, "You have to run faster after the New Year. The faster you run, the more money you have."

Zhong Zhiling nodded slowly, lit the cigarette, looking forward to the busyness of the coming year.

At three o'clock in the afternoon, the second and third-in-commands went home. The staff on duty got off work early, and Yu Xing was the only one left in the company.

Very quiet.

It's really enjoyable.

Yu Xing rubbed his face, lit a cigarette, raised his foot on the table, and began to simply search for information about the suspected target.

He actually doesn't believe that it's easy to find a suitable target for shorting.

However, regardless of the company's listing position or its extremely unreasonable business model, it is worth letting Yu Xing take a break.

—Jiahan Forestry, a Canadian listed company.

—Headline is in Canada and Hong Kong. It was established in 1995. The following year, founder Chen Deyuan bought a shell on the second-board market in Canada. He then moved to the main board and issued new shares to raise US$5 million.

—The company mainly engages in "living trees", that is, forest rights, which are trees growing in the forest.

—According to its claim, it is a forest purchase model, which buys ownership of the live wood through a procurement agent, and transfers it to the customer after operating and management for a period of time, and then the customer cuts the wood and produces wood.

——In addition, Jiahan Forestry also has a "forest building model", that is, plant, manage, harvest, produce and sell it on purchased or leased forest land.

——Now, the forest purchase model accounts for about 75%.

Yu Xing also founded the content of the company's speech by Chen Deyuan, founder of Jiahan Forestry.

—I am a fast-growing and abundant forest. Eucalyptus can be grown in five years and can produce economic benefits quickly.

——Lin, if you don’t cut it, it will grow every year, and the growth will be about 12% to 13% every year. Moreover, if the asset does not depreciate, the factory will depreciate and the machine will depreciate, but Lin will only climb up .

—When trees are cut down, they are wood, which is raw materials. Global production cannot be without raw materials. There must be goods sold and orders.

—The most important thing is that if there is no order, you won’t cut down trees. If the assets increase, you will buy them from me, so I will cut down trees. Once the trees are cut into wood, I will sell them, and there will be no problem of backlog inventory. .

—The Chinese market is developing rapidly, and there is a huge demand for wood. This market must be in. My forests are five years a cycle, which means the first five years are harder. Then in the sixth year, I started to cut down the first year of planting, seventh The planted year after year is cut, but I finished it this year and will plant it again next year. It is sustainable.

Yu Xing smoked a cigarette and looked at the words on the screen, as if he could see a Xiangjiang businessman giving passionate speeches to foreigners on the stage.

According to this logic, this model seems to be in a closed loop.

Yu Xing lit another cigarette and searched for information about eucalyptus trees. It was indeed fast-growing, but the disadvantage was that it absorbed water.

He stared at the introduction information of the eucalyptus, considering whether this shortcoming makes it difficult to be as sustainable as Chen Deyuan said, but then checked the domestic planting situation, most of which were in Guangxi.

Well, the precipitation in Guangxi should be quite sufficient.

Yu Xing searched for the relevant rainfall and confirmed that this impression was fine. The tree species that needed water to areas that were not scarce. As for whether there were other related effects, at least the sustainability of this project is promising.

Then, it may be a business model issue.

What kind of "procurement agent" can do all the dirty and tiring work and hand over the profits to Jiahan Forestry?

If Jiahan Forestry has resources and relationships to control the customer base, it may seem that such a model still exists.

However, looking at Jiahan Forestry's own introduction, even downstream customers are connected by "procurement agents", which is too unreasonable.

Why is a role that can both manage and contact customers willingly give up profits?

This goes against human nature!

What's more, the "procurement agent" is not just a single family. This group of people are willing to sell profits for many years, so that Jiahan Forestry can maintain the high gross profit on the books. How can it make sense?

Yu Xing breathed a sigh of relief and fell into deep thought. He felt that Jiahan Forestry had a big problem.

However, verification issues require more data.

He crushed the cigarette in the ashtray and stretched his body, intending to talk to Xiaoying about this issue when he met tomorrow morning.

The Badr Meinhof phenomenon and the Badr Meinhof phenomenon are not only short sellers who are looking in front of themselves, but it seems that even the counterfeiting companies are trying hard to get into it.

Yu Xing drank the cold tea and got up and walked out of the office.

I want to wait for next year.

Work has ended this year.

…

On January 23, at 9:15 a.m., a passenger plane from Xiangjiang landed in Jinling.

Liu Wanying felt the chill from her hometown when she got off the plane.

So cold!

She frowned, got her luggage, went to the bathroom to add a piece of clothing, and soon found Yu Xing who was really here to pick her up.

"Hi, my LP, welcome to Jinling!" Yu Xing welcomed him enthusiastically when he met.

I have to say that when Liu Wanying didn't see Yu Xing, she felt something inexplicable or something that could be called nervous.

The two have indeed communicated a lot these days, but they all go through phone calls, text messages, and emails.

In fact, they met only a handful of times, but their interests and careers were indeed mixed together.

Shorting Fenzhong won and made money, what should I do?

When Liu Wanying heard that Yu Xing could indeed hold the things on the phone in front of him without reservation, she said, besides the shame and annoyance at this moment, she suddenly felt relieved.

She smiled and took the initiative to stretch out her right hand, then turned her palm into a fist and hit him on the shoulder after the other party reached out.

"Oh, what are you doing?" Yu Xing caught off guard and reached out to catch Xiaoying's hand.

"Don't be nervous." Liu Wanying said angrily, "Let's go, Jinling is a little colder than I thought."

Yu Xing reached out to help pull the suitcase and smiled and said, "Is it much warmer over the Xiangjiang River?"

"There is nearly twenty degrees in Xiangjiang." Liu Wanying glanced at Yu Xing, who was a male college student last year, the entrepreneur last time, and this time crossing the mountain. "You won't really take a taxi to pick me up, right?"

Yu Xing nodded and said, "Yeah."

After a while, Liu Wanying and Yu Xing sat in a taxi together and confirmed that this was really a superman.

"Xiaoying, I'll give you a New Year's gift." Yu Xing gave you a slightly mysterious smile in the car.

Liu Wanying guessed boredly: "Are you a necklace?"

"A new case." Yu Xing blinked.

Liu Wanying turned her head and looked in the man's eyes for whether it was what he imagined.

Then, she was surprised to find that the other party's eyes were very serious.

The first thing to be surprised is speed.

Liu Wanying said in surprise: "How could there be a new case so soon?"

"So, the power of the people is strong." Yu Xing said with a smile, "In a vertically subdivided workplace website, when nearly 100,000 users are working people, they know or hear about all walks of life. Things must be more than you imagined, even if you were in Bain before."

He told the topic that is still on the website.

It sounds like this is a very common topic on a workplace social networking site, and it is not at all abrupt.

However, the same information can play a very different role in the hands of different people. Yu Xing did not mention the name of the target company in the taxi, but only handed the few pages of information that had been preliminarily sorted out from his bag to his partner.

Liu Wanying took it and studied silently.

The key parts on the data have been marked with red lines.

Listed in Canada…

Jiahan Forestry…

Liu Wanying frowned after only looking for a while, which undoubtedly conformed to the screening experience of the two in the previous preliminary exchanges. The separation of listed exchanges and main business markets is a matter of passive or active formation of information asymmetry.

When the taxi was about to arrive at its destination, Liu Wanying commented: "The procurement agent is very kind."

Yu Xing laughed: "Yes, I also think they are too kind. But from yesterday to this morning, I repeatedly searched for relevant information, but I couldn't find these kind purchasing agents."

Liu Wanying said "um" and looked out the window: "What are you doing here?"

"Can I come to the door empty? I don't have to buy tea or anything." Yu Xing said.

No mistakes, one song, one content, one in 6, one book, one bar, one reading!

The two got off the car, and the supermarket crossed the mountain and exchanged new targets in tea, candy, drinks, and biscuits.

"Its model holds true, its gross profit margin doesn't hold true."

"Yes, this box of tea is OK, right? It's red and suitable."

"In fact, we can quickly verify the so-called procurement agent, that is, call Jiahan Forestry directly and be its agent to see how it reacts."

"Buy some cookies for the junior sister. She likes to eat them. The junior sister is toothless. I won't buy them for her this time. I'll wait until she gets older."

Liu Wanying stopped and said helplessly: "Have you listened to me?"

"Yes, I nodded in response to you. With the information I saw, I was almost 99% sure there was a problem with it." Yu Xing smiled, "So, if there is a problem, there is no hurry. Don't everyone have to follow the problem. It's recovering in the financial crisis."

Liu Wanying's eyes lit up: "Are you going to wait for its stock price to rise again?"

"Yes, the bigger the bubble, the more satisfying it is to poke it, the more profit it will make, and we will have more time to prepare." Yu Xing nodded.

Liu Wanying took two steps and suddenly said suspiciously: "Are you afraid that I won't invest money to Bai Xiaosheng?"

Yu Xing laughed: "Somewhat."

Liu Wanying thought about it and said objectively: "Bai Xiaosheng's B round should not be too long. Kestrel's investment will be a good business."

"You have a strong confidence in Bai Xiaosheng." Yu Xing swept the shelves.

"I have a strong confidence in you." Liu Wanying said seriously, "But now, I have a question. Have you ever thought about how much you have done to the mountain?"

Yu Xing turned around and said, "Why do you ask me this? What kind of answer do you want to hear?"

"When I was on the plane, I was thinking that if you have the ability to build a social website in the workplace and if you can really improve the profitable business model, once it goes public, it may be more valuable than tossing over the mountains." Liu Wanying said in a leisurely manner. Come, "It's like this 1 million has been invested into the mountain. If the B round is successful, it will increase by at least 3 times. How much time will it take?"

Yu Xing was silent.

He frowned slightly and pushed the thing to check out.

Liu Wanying walked beside her, waiting for the man to respond to the question.

"I haven't thought about it very much." Yu Xing tied the bag to the handle of the suitcase, first gave such a very honest answer, and then said, "Xiaoying, I saw the logic of Jiahan Forestry yesterday, and I was a little confused. , Since the model allocation it claims is so contrary to human nature, why are there no problems in so many links over the years? ”

He wondered: "I saw that Paulson, the big bear on Wall Street in the United States, was the big boss who just made a profit from the financial crisis. He was also buying stocks of Jiahan Forestry. Isn't that strange?"

When Yu Xing first heard Lu Haiying read the speech of the website user yesterday, he thought some short seller had scrambled in, but after searching and research, it was not how able the user could analyze and summarize, but that Jiahan Forestry itself made public speeches.

This company itself doesn’t think there is any problem with this model.

Strange.

"In the past, I was doing M&A consulting at Bain, and sometimes I encountered outrageous company assets." Liu Wanying gave the answer easily, "It's the kind of thing we went to the field to see it, and after an audit, it really didn't match the number, and then traced the source. After analysis, I found that everyone just looked at the paper data.”

"A submitted the data, signed it, submitted it to B, B looked at the file, there was no problem, transferred it to C, C also looked at the file, all the data were given, and there was no problem below, so he didn't have it. There is a problem."

“The more information is asymmetric, the easier it is to rely on various documents and reports.”

Liu Wanying talked about both Jiahan Forestry this time, and also about the phenomenon that has always existed.

She added: "As soon as the market value is high, it seems to become an authority. When the company is big, there are celebrities around her."

"Yeah." Yu Xing nodded, "I really didn't expect to do anything over the mountain, but I think it's good if you can turn out the real thing and get money in this way. If you are right, this is the case. If you have any doubts, you can focus on Kestrel Capital. You will definitely be able to invest in many good companies in the next few years."

"You persuaded me, right?" Liu Wanying said disdainfully.

"I didn't advise you, I just, um... I feel that the domestic area is not very mature." Yu Xing said, "If you short a few more companies on Wall Street, you will definitely become a star short."

Liu Wanying smiled and said, "Who became a star? Are you or me?"

Yu Xing shrugged: "It's okay, I don't mind you or me."

He also said: "Fake-making companies need **** supervision. This should be an ecological chain. Let's first think of a level they need to face when they commit fraud. What if they have united front value."

Liu Wanying shook her head: "The short sellers cannot achieve the value of united front."

The two walked and chatted, and soon changed to Jiahan Forestry's business model and business performance.

On the 28th day of the twelfth lunar month, Jinling is minus five degrees below the temperature, but the heating at home is still a bit stuffy.

Yan Lirong held her little daughter who was not yet full month old, gently placed her sleeping on the bed in the room, and then went to the living room. She was about to open the window to get some breath when she saw two people walking outside.

She shouted excitedly at the kitchen: "Old Liu, Lao Liu, Liu Jingrong, come quickly!"

Liu Jingrong was confused, so he hurriedly ran out but saw his wife lying by the window looking out, with a silly smile on her face.

He walked to the side and looked at the scenery outside and his expression sank.

Sister Liu Wanying and former disciple Yu Xing walked shoulder to shoulder. Both of them had eager smiles on their faces. The white air they exhaled as they spoke drifted in the air, reflecting the slightly red cheeks, which looked particularly...heart-wrenching!

"Hey, hey, here, here, the couple is here!" Yan Lirong couldn't hide her happiness.

Liu Jingrong scolded, "What nonsense? Don't do this!"

dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong dong

Yan Lirong went to open the door.

"Oh, Master's wife, happy New Year!" Yu Xing brought the suitcase and gifts in, and said with a smile, "Where is the little junior sister? I can't wait to see her."

"Change shoes, slim, change shoes." Yan Lirong took the gift a little and said with a smile, "She just fell asleep, Yu Xing, I always feel that you have called me old. In this way, we will discuss our own things, you Call me Sister Rong.”

Liu Jingrong couldn't help but warned: "Ahhh!"

Yu Xingran, he wanted to try this title, but he still didn't shout out under the warning gaze of the teacher.

Liu Wanying rolled her eyes and walked straight to the sofa.

Yan Lirong said dissatisfiedly: "My man surnamed Liu, I didn't say you when I said he changed his shoes, right? You can't see the slippers prepared for you?"

Liu Wanying spread her hands.

Yan Lirong scolded, "Looking at your lazy look, those who don't know think you are going back to the door."

Liu Jingrong said dissatisfiedly, "Ahhhh!"

Liu Wanying's face suddenly turned red: "Sister Rong, you..."

Liu Zhishan, who was playing with toys in the room, heard the sound, followed her father's call and then said, "Hey, hey! It's my aunt and aunt..."

At this moment, she received four different eyes on the title she was about to say.

There are warnings, shame, encouragement, and hints.

Liu Zhishan thought for two seconds: "Yu Xing, I know my aunt! Happy New Year!"

Yu Xing laughed loudly, Yan Lirong smiled with her lips, and Liu Wanying sighed helplessly.

Liu Jingrong looked at this scene and gritted his teeth. The surname is Yu. Don’t think that you have won the likes of everyone in your family, and you can… be unscrupulous! Don’t think about passing this level of my experience!

(End of this chapter)