My 1999

After hanging up the phone with Xia Changsheng, Xu Liang took out Hanhua's semi-annual report.

Now among all his companies, Red Rock Fund has the largest assets. But the one with the most cash must be Hanhua.

In 2004, Hanhua had total assets of US$60.65 billion, including US$23.65 billion in cash assets and US$10.18 billion in total liabilities.

Net worth is US$50.47 billion.

After entering 2005, Hanhua had several huge incomes.

The first is the re-raised Pacific No. 2 Fund, with net income of US$18 billion.

The second is the Indian Ocean No. 1 Fund due in January 2005.

Sun Zhenping is a loyal Xu Liang fan.

The Indian Ocean No. 1 hedge fund he is responsible for basically follows Xu Liang across the river.

Whatever company Xu Liang invests in, he invests in the company's stocks and bonds.

The only difference is that he doesn't use too much leverage.

Fund No. 1 raised US$3 billion and only used 3 times leverage.

Although the average annual growth rate is not as abnormal as Xu Liang's, it can easily reach 100% or even 200%.

But there are also 63%.

A total of US$3.78 billion was obtained.

But according to Hanhua’s rules and regulations.

With a return rate of 63%, Hanhua can only get 30% of the total return as service fees and management fees.

That’s $1.13 billion.

Plus tax deductions.

Actual net profit was US$735 million.

Then there is the rise of the Chinese currency.

By acquiring Delong's financial assets and investing in various domestic companies, Hanhua transferred a total of nearly 100 billion Huaxia coins into the country.

In June this year, the higher authorities finally issued a decree and the Chinese currency appreciated.

As of now, the exchange rate of the Chinese currency against the US dollar has increased from 1:8.26 to 1:7.56, and it is still growing.

This directly caused the asset of Hanhua to rise by 8.47%.

There are also investment income from institutions such as Hanhua London Office and Hanhua Beijing Office.

As well as the proceeds from the sale of Nanfu Battery, Yuwang Environmental Protection and other companies.

Finally, Hanhua's huge cash flow is not just left on the books to let it depreciate.

Basically invest in low-risk assets such as treasury bonds and bonds.

The net income is not high, only about 5%.

But I can't bear the base number being too large.

More than 20 billion US dollars, rising by 5% every year, is more than one billion US dollars.

It can completely cover Hanhua’s administrative costs.

To sum up, as of the end of June 2005, the entire Hanhua Group had net income of US$22.145 billion.

This is cash.

As for Hanhua’s income from the U.S. subprime mortgage market, the fund has not yet reached the unblocking period, so it is not included for the time being.

Of course, in addition to net income, there are also expenses.

For example, the acquisition of Tsingtao Brewery cost 11 billion Chinese yuan.

The privatization of Fuhua Real Estate cost US$7.3 billion.

The total expenditure on the acquisition of Kunlun Technology, Parknshop Supermarket, Changyu Wine and other companies was US$4 billion.

As for the 1.5 billion pounds given to Manchester United Group, this is a loan, which will be sold into asset-backed securities later to recover the cash.

So it's not considered a liability.

Coupled with other miscellaneous expenditures, Hanhua had spent a total of approximately US$13 billion in cash as of the end of June 2005.

Calculate it comprehensively.

In the first half of 2005, Hanhua achieved positive cash flow of US$9.2 billion.

Let its cash reserves successfully climb to a new height of 32.85 billion US dollars.

In addition to cash flow, Hanhua's assets have also grown significantly.

Most of the $13 billion spent was converted into assets.

Coupled with the increase in market value of companies such as Netflix, Ctrip, NetEase, and Mengniu in which Hanhua holds shares, this alone has added nearly US$4 billion in equity assets to Hanhua.

Coupled with the development interests of the four major holding subsidiaries of Kelong Supermarket, Kunlun Technology, Huaxia Winery and Fuhua Real Estate.

As well as the prices of precious metals such as rare earths and lithium invested by Hanhua, jewelry materials such as jade and Hetian jade, artworks and high-end wines have risen.

Hanhua's assets have appreciated by more than US$7 billion.

Taken together, Hanhua's assets increased by US$24 billion.

In contrast, liabilities have not increased much.

Mainly the debt of 34 billion Chinese dollars borne by the acquisition of Delong, as well as the original debt of the acquisition of PARKnSHOP, Kunlun Technology, etc.

This part adds up to about US$8 billion.

In addition, Huaxia Liquor and Fuhua Real Estate have increased their debts in order to develop and optimize taxation.

Hanhua increased its debt by about 10 billion US dollars in the first half of 2005.

Calculate it comprehensively.

As of the end of June 2005.

Hanhua has total assets of US$93.85 billion, including US$32.85 billion in cash and short-term bonds, and total liabilities of US$18.18 billion.

Net worth is US$74.67 billion.

It has ten offices including Beijing, Shanghai, Pengcheng, Xiangjiang, Tokyo, Singapore, Silicon Valley, London, New York and Paris, and manages huge assets of nearly US$200 billion.

Become a private equity giant with truly global coverage.

Overtaking Blackstone, KKR, etc., ranking first in the world.

In comparison, Red Rock Fund now has total assets of US$83.002 billion, liquidity of US$16.572 billion, and total liabilities of US$12.58 billion.

It has fallen behind Hanhua.

However, in the long term, Hanhua's potential is not as good as Hongyan.

After all, what Xu Liang remembered was that those were the only opportunities to make big money.

The more you use it, the less it gets.

However, Hongyan Fund owns the equity of future giants such as Apple, Amazon, Penguin, and Alibaba. The income from the appreciation of these stocks in the future will exceed the accumulation of Hanhua in more than ten years.

Xu Liang took Hanhua's semi-annual report and flipped through it, but in the end he still didn't call Jiang Xiaoyang.

This time too much money was used for Vivendi, and he was afraid that Jiang Xiaoyang would cause jealousy.

No matter how generous a woman is, she will not watch her man spend tens of billions of dollars to support the development of other women.

Therefore, it is better to manage it directly through Hongyan Fund.

Save yourself the trouble.

——

“Vincent, how long are we going to keep hiding?

I've had enough of that bitch nagging in the media, and those damn reporters and filthy bottom bugs, preaching about women's rights every day, it's a joke. "

Arnaud Lagardère kept complaining while puffing on his cigar.

A trace of disgust flashed in Vincent Bolore's eyes.

Jean-Luc Lagardère was a hero, but the son he gave birth to was a trash.

But it is precisely because he is trash that he can be used by himself.

"Arnault, please be patient. When we hold more shares in Vivendi, we can drive away that guy Foch and take over Vivendi completely.

Then Havas Group will be yours.

With this honor, no one will ever say you are inferior to your father. "

Arnaud Lagardère had a look of longing on his face.

As a man who has always lived in the shadow of his father, what he desires most is to achieve results and surpass that damn old man.

Shut up those Lagardère Group veterans who have been nagging in his ears all day long, asking him to learn from his father's business methods.

He, Arnaud Lagardère, will be a greater family leader than the dead man.

"Vincent, as the Chinese started negotiating with Vivendi, the company's stock price has been rising. I'm sure those damn hot money must be watching, so we should act quickly.

Otherwise, the further we go, the greater the price we will pay. "

Vincent Bolore smiled and said: "Don't worry, it won't take long before we can achieve our goal."

"And that guy Foch, he has been bribed by Xu Liang.

We have to guard against him. The position of CEO is too critical. Once he causes trouble for us, it will be difficult for us to acquire Vivendi.

Moreover, his prestige is too high. The existence of this person is a stumbling block for us to win Vivendi. "

Although Arnaud Lagardère is an unlearned playboy, it does not mean that he is stupid.

Vincent smiled and said: "Don't worry, Jean is a smart man and he will make rational choices."

Arnaud looked at his cold eyes and understood something.

Not surprised either.

Business competition has always been ruthless.

Dong Dong…….

There was a knock on the door.

"Come in."

Obaid Borore walked in wearing a brown suit.

"Father, I just received a call from Secretary Xu Liang. He asked you to meet at Hanhua's Paris office at three o'clock this afternoon."

Vincent was stunned for a moment.

"Are you sure it's Xu Liang's phone number?"

"yes."

"Did he say anything else?"

"No."

"Vincent, didn't he notice something?" Arnault said from the side.

"We don't rule out this possibility, but it doesn't matter even if we notice it. We are almost ready."

"Haha, that's true. So this meeting...?"

"Go, this is Paris, he can't do anything."

At 2:30 in the afternoon, Vincent Bolore arrived on time on the 15th floor of the Courbevoie Building in La Défense, where Hanhua’s Paris office is located.

Led by Lu Hui to Xu Liang's office.

"Mr. Bolore, we meet again."

Xu Liang greeted him with a smile.

Vincent took his outstretched right hand.

"Hanhua's Paris office has been very prosperous recently and has many investors. Mr. Xu is indeed a business genius."

"Thank you. Please sit down."

"please."

The two sat down on the sofa in the reception area.

Lu Hui brought over the coffee.

Xu Liang picked it up and took a sip before saying directly.

"Mr. Bolore, do you still remember the agreement we made in London?"

"Of course. Did Mr. Xu regret it?"

Xu Liang smiled and said: "I'm afraid that Mr. Bolore will forget. I have been in Paris for more than half a month, but I have never seen any expression from Mr. Bolore.

I haven't seen any action from you during the two Vivendi board meetings. It's really hard for people to believe Mr. Bolore's sincerity. "

"Mr. Xu misunderstood.

I like to do things with certainty.

Vivendi's acquisition is very cumbersome and the funds involved are too huge, so it is appropriate to be cautious. Vincent Bolore said with a smile.

Xu Liang smiled faintly, picked up the coffee on the table and took a sip.

The conversation changed.

"I wonder if Mr. Bolore is interested in the Havas Group?"

"The publishing giant that ranks first in France and third in the world, of course I'm interested. But Mr. Xu doesn't seem to be optimistic about it?"

"Havas is a high-quality asset, but I do not have a publishing business. The most important thing is..." Xu Liang looked directly into the eyes of the man in front of him, "I want to use it in exchange for Mr. Bolore's withdrawal."

Vincent Bolore's expression changed slightly, and then he smiled.

"I don't quite understand what Mr. Xu means?"

"Mr. Borore, we are all smart people. Don't use any tricks to deceive people. Not everyone is as stupid as Arnaud Lagardere."

Looking at the sharp eyes and the showdown of the man in front of him, Vincent Borore's heart sank and his face changed a little.

After a moment, he took a deep breath.

"I also have a business that I want to discuss with Mr. Xu?"

Xu Liang made a gesture of invitation.