My 1999

Let alone, just by exploiting the loophole in the US real estate bond rating, they made a floating profit of 44.8 billion US dollars.

The total debt of BOE and SMIC is only 23 billion US dollars. Even if the operating losses are added, it will not exceed 26 billion US dollars.

The profit of Hanhua Pacific Fund this year can fully cover it.

And Hanhua has more than one Pacific Fund that expires this year.

Although they earn far less than Pacific, they can also make a floating profit of several billion US dollars.

In 2007, Hanhua Pacific Phase II Fund expired.

The income of the "Tenglong Plan" arrived.

It can also cover the expenditure of 20 billion US dollars of BOE and SMIC.

The only uncertainty is 2008.

But even if 2008 does not make as much as in 2006 and 2007, Hanhua can survive with its accumulation over the years.

After thinking it through, Jiang Xiaoyang's uneasiness calmed down.

"Do we have to invest so much money?"

Xu Liang: "We talked about this issue last time. Hanhua's profits are too rich. In order to avoid unnecessary trouble, our funds need a way out.

Investing in high-tech can not only generate income, but also gain favor from the top.

At the same time, it can consume huge amounts of cash, which is the most suitable way for us."

"I see."

Xu Liang: "How is the charity foundation going?"

"It's done. The charity fund has officially changed its name to 'Xu's Hanhua Charity Foundation' and has established three branches in the United States, the United Kingdom, and Dubai.

Currently, we are looking for charitable donation projects and expect to donate 10 million US dollars this year."

Xu Liang nodded.

Strictly speaking, after a company makes money abroad, it still needs to pay corporate income tax abroad if its domestic business is loss-making.

This is because the company's tax liability is determined based on the source of income, not based on the profit and loss of the business.

Even if the domestic business is loss-making, the income earned abroad still needs to pay taxes in accordance with the tax laws of the country where it is located.

So it is not possible to directly use Hanhua's pre-tax income to offset the liabilities of BOE and SMIC.

But the amazing thing is that no matter how well-designed the laws are, there are loopholes to exploit.

However, to achieve this, very complex financial operations are required.

Charity funds are one of them.

"The private jets that I gave to Hongmeng and Hanhua, as well as the administrative expenses and personnel expenses of all the residences in Beijing, will all be put on the account of the charity fund." Xu Liang said.

Since you want to avoid taxes, you still have to abide by the rules of the Americans.

Jiang Xiaoyang: "Don't worry, I will help you put it on anything that can be put on."

After the two chatted for a while, Xu Liang hung up the phone.

At the time agreed with Xu Liang, Jiang Weimin reported the conditions he and Xu Liang had agreed on to Guangdong Province. It was a major matter and it was difficult to make a decision in a short time.

But Haizhu City, which heard the news, went directly to Xu Liang and expressed their support.

For the leaders of Haizhu, Gree Electric has already eaten the fruit in its stomach. As long as the profits and taxes are in the local area, the ownership is not that important.

And the ownership cannot be exchanged for political achievements.

In comparison, SMIC's huge investment of 3.5 billion US dollars, more than 30 billion Chinese yuan, is a big deal.

Once the industrial chain is formed, it can directly increase Haizhu's GDP by tens of billions or even hundreds of billions.

There is no need to hesitate about what to choose.

Guangdong Province considered it for three days and gave Xu Liang a definite response.

No problem.

Finally, it's Huarun's side.

At the agreed time, Song Yunshan and Xu Liang sat together again.

"China Resources Vanguard, C'estbon and Snow Beer can be given to you, but not Wufeng."

Xu Liang frowned, "Why?"

In 2006, Huarun Wufeng was not as strong as it would be 20 years later.

The main assets now are three slaughterhouses located in Hong Kong, Pengcheng and Shanghai, of which the largest is in Hong Kong.

In 1997, Huarun invested 1.8 billion Hong Kong dollars and built the most modern slaughterhouse in Hong Kong in two and a half years.

There are 4 pig slaughtering production lines, 1 cattle slaughtering production line, and 1 sheep slaughtering production line, which can slaughter 5,000 pigs, 400 cattle, and 300 sheep every day.

Before the construction of Sheung Shui Slaughterhouse, there were four slaughterhouses in Hong Kong: Tsuen Wan Slaughterhouse, Kennedy Town Slaughterhouse, Cheung Sha Wan Slaughterhouse and Yuen Long Slaughterhouse.

After the Sheung Shui Slaughterhouse was put into use, except for the Tsuen Wan Slaughterhouse, the three old slaughterhouses in Cheung Sha Wan, Kennedy Town and Yuen Long all collapsed.

Now Huarun Wufeng occupies nearly 75% of the slaughtering market in Hong Kong, and is a well-deserved overlord.

In comparison, the slaughterhouses in Pengcheng and Modu are smaller.

Now Huarun Wufeng has the slaughtering capacity of 3 million pigs per year, and has more than 500 sales outlets in Hong Kong, Modu, Pengcheng and other places.

It operates two brands, "Xi Shangxi" and "Wufeng Shangshi".

The revenue in 2005 was nearly 4 billion Chinese yuan.

Although it is also a big company in the meat processing industry, it is still far behind giants such as Shuanghui, Yurun, and Jinluo.

In comparison, Snow is the second in the beer industry, China Resources Vanguard is the third in the supermarket industry, and the sixth in the retail industry.

They all have enough reasons to be at the top of the ban list.

Song Yunshan pointed to the top of his head.

"The higher-ups said that Huarun Wufeng is related to the stability of Hong Kong and cannot be sold."

Xu Liang frowned. He originally thought that the higher-ups would veto the sale of Snow Beer because of monopoly, but he didn't expect that Wufeng would encounter difficulties in the end.

"Wufeng is just a slaughterhouse, how can it be related to Hong Kong's stability?" Xu Liang asked suspiciously.

You are just a pig butcher, not a water and electricity supplier, what does it have to do with stability?

Song Yunshan frowned after hearing the subtext, but he was not angry.

"That's what the higher-ups decided, and I can't do anything about it."

"Without Wufeng, the remaining China Resources Vanguard, Snow Beer and Yibibao are not enough to exchange for Tianshan Group."

Although Xu Liang's Tianshan Group's estimated revenue in 2006 was 9 billion Chinese yuan, and the profit of the main industry was about 1.1 billion Chinese yuan, it was about the same as China Resources Vanguard.

But there is one thing, Tianshan Group's debt is less than 1.5 billion Chinese yuan.

China Resources Vanguard has a revenue of nearly 33 billion Chinese yuan, but its assets are far less than Tianshan Group, and its net profit from the main industry is only 2.6 billion Chinese yuan.

Adding more than 6 billion Chinese yuan in liabilities, its actual value is less than 4 billion Chinese yuan.

Snow Beer and Yibibao Water add up to only about 3 billion Chinese yuan.

Tianshan Group, which has good development and excellent financial situation, can be sold for 12 billion Chinese Yuan.

But China Resources Vanguard, Snow and Yibao Water can only be sold for 8 billion Chinese Yuan.

"Mr. Xu, we can use cash..."

Xu Liang interrupted, "I'm not short of cash."

"I'm sorry, all the remaining assets of Huarun are not for sale."

"Mr. Song, we talked about it before. China Resources should reduce the scale of its business and focus more energy and financial resources on a few main businesses, so that it can truly become an industry giant."

"Mr. Xu's words make sense, but Huarun is Huarun, and we have our own investment and development rhythm."

Xu Liang smiled and continued, "After selling China Resources Vanguard, Snow and Yibao Water, Huarun also has meat processing, gas and electricity, cement, medicine, textiles, real estate and finance.

There are still many industries to enter.

It also consumes Huarun's funds and energy, especially the real estate industry, which often invests tens of billions or even hundreds of billions, involving a large amount of Huarun's funds.

So, my opinion is that Huarun sells Huarun Real Estate..."

"Mr. Xu!"

Song Yunshan interrupted without hesitation.

"Huarun and you have a cooperative relationship, not a relationship of being at the mercy of others. Please realize this."

Looking at his angry face, Xu Liang smiled.

"Good medicine tastes bitter but is good for the disease, and honest words are unpleasant to the ears but are good for action.

Mr. Song, I just spoke from the bottom of my heart. Please forgive me if I offended you."

Hearing this, Song Yunshan's face looked better.

"I sincerely hope that Huarun can develop better. If you give up the huge investment in China Resources Real Estate and invest all your capital in the cement industry, you will soon become the number one cement giant in the country.

Focusing on one field and becoming a hegemon will gain benefits far greater than running multiple industries in parallel.

Huarun should become a giant company in the five major fields of gas, electricity, cement, medicine and finance, and the rest should be abandoned resolutely."

Xu Liang's words of persuasion are endless.

Unfortunately, Song Yunshan was determined to eat the weight of the scale, and he would not give in no matter how he persuaded.

In the end, both sides took a step back.

Xu Liang gave up the acquisition of China Resources Real Estate, and Huarun transferred its only two Mixcs, Pengcheng Mixc and Hangzhou Mixc, to Taihua for 8 billion Chinese yuan.

Of which 4 billion was transferred in cash, and 4 billion was the original debt of the two Mixcs.

Xu Liang was also very satisfied. Although he did not get all of Huarun Real Estate, the two Mixcs were undoubtedly the essence of the entire China Resources Real Estate.

Pengcheng Mixc, also known as Pengcheng China Resources Center Mixc.

It is the first Mixc under Huarun, located in the prosperous Luofu business district.

The location conditions are extremely excellent.

It is located in the core financial and commercial area of ​​Pengcheng, between the two main roads of Shennan Avenue and Binhe Avenue that run east-west through Pengcheng, and faces the Diwang Building across Shennan Avenue.

It has convenient transportation. The Grand Theater Station of Metro Line 1 is directly connected by an underground passage, and there are more than 30 bus routes in the surrounding area.

It covers an area of ​​80,000 square meters, with a total construction area of ​​550,000 square meters and a total investment of more than 4 billion Chinese yuan.

The first phase of the project includes the ultra-large-scale indoor shopping and entertainment center "Vientiane City"; with a construction area of ​​188,000 square meters, it is the largest shopping and entertainment center in Pengcheng.

In comparison, the shopping center in Taihua Century Plaza under Taihua is only 150,000 square meters.

The Taihua City Shopping Center located in Pengcheng Bay is planned to reach 250,000 square meters, but it is still under construction and will not open until 2007.

In addition to the "Vientiane City Shopping Center", there is also a 5A grade A office building, China Resources Building, with a construction area of ​​42,000 square meters.

The second phase of the project includes a five-star business hotel, hotel-style serviced apartments and a super-large outdoor entertainment and leisure plaza connected by a commercial pedestrian street.

At present, the entire project has been completed in 2005.

As a high-end urban complex.

Pengcheng Vientiane City and Taihua Century Plaza under Taihua are the two major commercial flagships of Pengcheng.