Reborn Entrepreneurial Giant

If nothing else happens, the relevant departments will criticize the four overseas giants this year, and now they may be the five overseas giants, because China United Group is also very active, and they all have similar routines, and they are all borrowing money to invest.

Criticism is criticism, but the relevant departments also said: "The policy of encouraging Chinese companies with strength and conditions to "go global" has not changed." So we must be clear, it does not mean that companies investing abroad have "problems."

The criteria for judgment are probably to exclude: fake projects, fraudulent loans, creating liabilities, and ultimately transferring assets overseas.

Yinghe Real Estate is a Xiangjiang real estate company, so overseas investment is not restricted. It has been selling off commercial real estate projects since last year and concentrated its investment into long-term rental housing and student apartments in England. These are not good projects that can make a lot of money. They tend to be conservative, so they are suitable for family funds.

In a market without competition, Yinghe owns two brands, Jinxiu and Jinlin, and has undoubtedly grown into the largest long-term rental housing company in the country, with a supply of 100,000 houses in (new) first-tier cities, mainly concentrated type supply.

In addition to long-term rental housing, there are also logistics real estate. Tianming Fund has transferred part of its property rights to Yinghe Real Estate for unified management. They are basically high-quality assets, many of which are related to Jumei Logistics.

"This year's task is to ensure occupancy rates and achieve profitability..." Quli does not plan to expand, so no new projects will be started. It will only wait for the completion of other cooperative construction projects. The final scale should not exceed the supply of 120,000 rooms. quantity. This is already an astronomical figure in 2017. Fortunately, a digital management system has been established.

Needless to say, the living and network infrastructure of each building is ready. Even charging piles and parking spaces are ready. In fact, for the cooperation project, Yinghe required them to reserve space when planning their community and build charging stations by pulling wires in the parking spaces of the community. pile.

Yinghe's self-owned long-term rental properties are high-quality assets in core locations. The discount range will not be less than 30% off, and there are also 20% off purchases. The cost is still quite high, and the corresponding rent will not be much lower.

In the past, the long-term rental business has been carried out through purchase, cooperative development, and insurance/real estate fund management after purchase. Now, after these years of development, we can change to a different model. Obtain abandoned factories, office buildings or residential buildings from local state-owned enterprises, governments, and village collectives, and renovate them into entire apartments for rent.

Within three to five years, the scale can probably be doubled, from about 120,000 now to about 300,000, and the city range will range from first-tier to second-tier cities. Because it is an asset-light model, subsequent losses are within control.

However, after spending tens of billions of funds, there is still so much money in the stock market. Qu Li's money is not unlimited, and his debt ratio is actually quite high. However, he has a wide network and relatively low financing costs. It is a normal loan from a bank. level.

It's not that the bank gave him preferential treatment, but that his capital was too strong. He originally said that he had the right to use 5% of Fanxing Fund's assets to solve his personal problems. The market value of Honor Plus Time Jumei exceeds 500 billion US dollars, and Qu Li’s shareholding ratio exceeds 30%, which means he has 7.5 billion US dollars and about 50 billion in funds that can be used to lend cash through mortgage loans.

Don’t worry about funding. According to Vanke Port Apartment’s financial report, in 2022 they managed 170,000 rooms and earned 780 million in a quarter. Now they only have 100,000 suites. After discounting, the revenue in a quarter should not be less than 350 million a year. 1.4 billion.

If you include Yinghe Real Estate, insurance funds, and real estate funds, the total investment in this long-term rental housing project may exceed 50 billion. 1.4 billion divided by 500 is less than 3%. Fortunately, real estate funds are counting on rising house prices rather than rental income. But when real estate funds mature around 21, what will happen after that? Can insurance funds take over?

Qu Li attended the meeting of Yinghe Real Estate and encouraged some domestic employees. Their income is not too high, but it is very stable, and their welfare benefits are good in strict accordance with the labor law. For example, every "building manager" and "apartment apartment owner" will have annual leave.

It’s okay to deal with the matter of Yinghe Real Estate and continue to understand Yinghe Telecom. The market value is about 60 billion Hong Kong dollars, which may exceed 10 billion US dollars this year. In addition to telecommunications, data centers, and enterprise service businesses, it has also cooperated with Mango TV and Youku to launch ViV, a streaming video website targeting the international market in Southeast Asia, currently focuses on both Korean and Chinese dramas.

The young master of the Li family acquired TVB, entered the entertainment industry, and started making movies again. He once again realized the indispensability of the domestic market. He seemed to be interested in letting his electric car brand build a factory in China, but Chuangpu was tinkering with a plan to return the manufacturing industry. , hesitating, put more energy into TVB, as if learning from Kimchi Country’s artist economic model to cultivate male and female idol groups.

Yinghe Telecom's VIV cooperates with domestic brokerage companies and Mango Channel to promote domestic artists to the Southeast Asian market, including but not limited to developing online variety shows for the Southeast Asian market.

Maybe VIV's market share has achieved very good results in the short term, which has improved the potential of Yinghe Telecom. As a result, the stock price has risen, trading activity has increased, and Hang Seng Bank announced that Yinghe Telecom will be re-incorporated into the Hang Seng Index.

VIV's potential is still good, but Mr. Li's TVB is more well-known and powerful and is also developing streaming media. I thought that the two companies would have a fierce battle. Some magazines wrote many articles about this, but unexpectedly there was no fight.

Now that Chen Danlin was about to take over as the chairman of Yinghe Telecom, Qu Li went to the platform to see who was disobedient and tried to find a way to get rid of the problem.

Chen Danlin now also has an MBA diploma. He is the only one who is a junior high school student, or a self-taught undergraduate, and his academic qualifications are looked down upon. Many universities at home and abroad want to accept Qu Li as an honorary professor because many of the ideas he proposed are very insightful. Some professors even said that Qu Li is one of the few management geniuses at home and abroad who has both practical experience and summary ability...

This is not nonsense. Some experts in the United States have written a book based on the core concept of "asymmetric risk". No one knows whether it was Qu Li who proposed the first principle or Musk who proposed it first. Both of them are a little confused. Qing, in addition to empathy, etc., many start-up companies in China and Taiwan are learning from it, and there are also well-known and outstanding companies in Northern Europe.

No one thinks that Qu Li does not understand management, but it is a recognized fact that he never participates in the daily management of the company. It can only be said that he is extremely talented. In the eyes of Xiangjiang people, Qu Li is undoubtedly a genius and "able in both literature and martial arts."

"If I were really a genius, I wouldn't be afraid to give interviews to the media for fear of saying the wrong thing." Qu Li sat next to Chen Danlin at the Yinghe Telecom press conference for the interview, and did not answer any questions about his personal love life.

Chen Danlin withstood the "torture" of media reporters, and Qu Li was not spared either.

“Excuse me, do you have permanent residence status in Hong Kong now?” a reporter asked maliciously.

"I think so. I applied after Jumei's IPO in 2008. I haven't had time to deal with this matter over the years, but I never thought about giving up..." Qu Li thought for a while and answered.

Now, there are many such rumors on the domestic Internet, but they have never been confirmed. Now Qu Li admitted it in public, and it quickly spread throughout the domestic Internet: the title "Qu Li is running away" appeared on a certain Portal.