Reborn Entrepreneurial Giant

Some people accuse Qu Li, and some speak for him, but it is a fact that the relevant departments named China United. How to explain it? In fact, Qu Li didn't need to explain. The other companies named had many excuses.

In 2017, domestic housing prices skyrocketed again. Ma Yun said that after 8 years, housing prices have skyrocketed, but now many people cannot afford to buy a house. However, the stock prices of real estate companies have skyrocketed, and many people have reached the pinnacle of their lives. If Qu Li had not dominated the world, maybe The richest man in the country is about to be replaced.

There are all kinds of outrageous rumors on the Internet, but the former Yinghe Center has now been changed to Wanda Center. Even the former Yingke Center in Beijin was converted into office buildings and sold for billions. There is no Yinghe Real Estate development in China. community.

Of course, there are still people with great powers who have discovered that the name of Yinghe Real Estate appears in some projects of Sunac, Greentown, Evergrande and other companies. Could it be that he has been cooperating with communities that do not have his own name? Doesn't he make money by doing so?

Doubts from the outside world have not stopped because of this, and many people believe that Qu Li is a money-making machine and has gone a long way in the pursuit of wealth. But there are still people who can understand him. Qu Li bought PCCW to help the young master of the Li family get out of trouble, and the Li family helped Honor expand into the European market. They have a mutually beneficial relationship. As for the privatization of Yingda Real Estate, it is also to make Yinghe Telecom's business healthier.

In addition to continuing to maintain its advantages in Xiangjiang, Yinghe Telecom has also become the largest third-party data center operator in Asia-Pacific, including China. It has a presence in many cities in Europe and the United States. Its IDC business has grown by more than 50% every year. It could have been more, but time has passed. The cloud will also be built by itself, and PCCW will be responsible for the management.

When Qu Li and Chen Danlin moved into PCCW, they brought not only capital but also technology and business. The telecommunications business brought stable cash flow and invested it in the data center. However, the departments that are not developing well are enterprise services and IT operation and maintenance management.

It was really difficult to develop enterprise-oriented business in China, including Southeast Asia, so in the end he spun off the department and sold it to Huashan Communication Technology and Kingsoft, and then formed a joint venture with these two companies in Singapore to help them develop international business.

The remaining part will be established as a software services company to help traditional enterprises develop various software, including online collaboration, video conferencing, etc. At the appropriate time, the industrial software department that serves Qiancheng Geometry may be acquired.

In addition, PCCW also holds about 5% of the shares of ServiceNow, an IT operation and maintenance company. The current market value is about 20 billion US dollars, and it will exceed 100 billion US dollars in a few years. This investment can earn 20 times, but it has no strategic value. .

Without the drag of the real estate business, PCCW is an operator with the attributes of a "technology company". When calculating its value, it basically only considers the operator and data center business. However, the market value at this time also exceeded 100 billion Hong Kong dollars, and it has not declined for the time being. sign.

Regardless of market value or potential, PCCW is somewhat insignificant. Why does Naquli want to run such a company? Of course, it is for satellite communications and Internet services. It is difficult to compete with operators for the market at home, but there are not so many restrictions abroad. For example, there are basically no policy obstacles for satellite communications services to enter the EU market.

The value of Starlink can not only provide Internet access to users in remote areas on land, but also allow users on ocean-going cargo ships to continuously access the Internet. This also includes aircraft, a three-dimensional information network...

Satellite Internet is a money-burning business. PCCW's profit margin is not enough to support such a high-risk business. However, satellite calls still have to go through operators in the end. PCCW is such a relay, which not only allows it to make money, but is also convenient. Take control yourself.

Starlink was established in 2015. Qu Li started to apply for domestic licenses last year after the rocket successfully launched into space. Unfortunately, it was unsuccessful, so he settled on Xiangjiang. If that didn't work, he would go to Singapore and occupy the frequency band resources first.

No matter what Qu Li thinks, in the eyes of some people, he is a disobedient rich man, and his behavior is not a good thing. You must know how to restrain yourself when doing things in the country. Don't think that you can do whatever you want because your starting point is good. Because one person's perception may not be correct.

What Qu Li wanted to do may not be in line with the long-term strategic arrangements of the relevant departments, but Qu Li could not know that, so he still insisted on his own ideas and insisted on building satellite Internet. Was Qu Li wrong? Were the relevant departments wrong?

Only the trolls on the Internet were at fault for underestimating Qu Li Qu Tianming. Another reason why he disclosed his permanent residence status in Hong Kong was to gain support from the Hong Kong government. This time things went smoothly. As a new industry with great potential, , basically no one objected.

In fact, there was later a company called Xiangjiang Aerospace Technology, which manufactured satellites. It cooperated with many countries around the world and had an annual production capacity of 200 satellites.

Although Xiangjiang belongs to China, it has greater flexibility in international cooperation.

More than ten years of entrepreneurship, constant success, and compliments from around him have finally changed Qu Li, making him somewhat strong and stubborn.

I thought that the negative information on the domestic Internet would be difficult to calm down for a while, but I didn't expect that a relatively influential Caixin magazine published a long article introducing Yinghe Real Estate in depth. Chen Danlin cooperated with the reporter's interview.

Before Yinghe Real Estate was privatized, they were thinking about long-term rental housing. Many friends expressed opposition to this idea because no matter how you calculate it, this is an unprofitable business. The only reliable way to make money is to buy the house. Come down and wait for appreciation.

"In addition to acquisition funds, Tianming Fund has invested more than 10 billion in long-term rental housing projects. However, this business is not profitable, so we have found other ways to make money, such as commercial real estate. We established Yinghe Center. But our operational capabilities are limited. , including the Yingke Center in Beijin, were eventually sold. Later, friends supported us and sold us some high-quality logistics real estate projects, as well as student apartment projects in London. We finally have a relatively stable source of income..." Chen Danlin so

The reporter was very conscientious. He not only read the financial report of Yinghe Real Estate, but also conducted an on-site investigation. He learned that the high-end Jinlin has relatively stable income, but the mid- to low-end Jinxiu has been losing money.

"Since this business is not profitable, why do you do it?" the reporter asked

"Maybe it's because he is too rich. After establishing Fanxing Fund, he was afraid that he would really have no money to use. He wanted to make money but also wanted to do charity. This tangled mentality made us very passive..." Chen Danlin

"..." The reporter thought for a long time before he understood that Qu Li really had not touched Fanxing Fund's money, so he went to Fanxing Fund to verify it.

"We bought a lot of houses through cooperative development in the past few years. Now the rental prices have increased a lot. We are not going to continue to buy houses. Yinghe Real Estate will soon achieve breakeven, and the demand for external funds will decrease. Cash flow..." Chen Danlin

Caixin Magazine told this tortuous and complicated story, and at the same time explained what long-term rental housing is, the significance of its existence, and the poor return on investment. It is difficult for normal people to understand the logical relationship behind this. The Caixin reporter actually sorted out the causes and consequences of the entire incident. In the end, he did not draw a conclusion and left it to the readers to think.

After the article came out, many bosses in the real estate industry stood up and proved that long-term rental housing is indeed a low-profit industry that requires a lot of capital, but the risk is not high. At worst, there is still a house...