Chapter 267
In Wanghai City hundreds of kilometers away, Wang Dehai sat behind the office table with a grave expression on his face.
There were two English newspapers on the table. One was a <New York Post>, the other was the <Time Digest>.
The two newspapers were both flipped to the business section. Although the two newspapers were completely different, the headlines printed almost identical information.
Future International Incorporated, the secret that led to its departure from Wanghai City.
Although Jiang Chen had purposely avoided the reporters who swarmed him like flies with their cameras raised high during his time in Xiangjiang, nothing is kept hidden forever as major presses dug out leads from different channels to find the secret behind Future Technology’s relocation.
Linhua Group attempted to use the local government’s relationship, with the stake of suppressing its business in Hua, to forcefully acquire a controlling stake in Future Technology. Future Technology earned the central government’s support because of an undisclosed reason, but Jiang Chen who was already divided from the Wang family chose to leave because of the lack of trust in the Wanghai City local government.
The domestic presses were okay as their mouths were naturally shut due to the company’s influence. Although the policy of official relatives not permitted to be in business was only limited to spouse and children, it would still reveal a negative image if the news were to be published.
While the domestic media could be controlled, Wang Dehai couldn’t do anything to the international press.
Fortunately, it was hard to listen to the buzz outside anyways.
Since it has almost become “politically correct” for western media to criticize the country’s policy on certain issues, to the fact that Future Technology’s investment value had always drawn the craving of the Wall Street capitals, all the major international press conducted an extensive investigation on this event.
Particularly <New York Post>, the satire between the lines was especially evident. The lines of English almost gave the enraged Wang Dehai a heart attack.
Wang Linhua stood in front of his office, the old fox’s expression looked awkward.
A month ago, Wang Linhua had promised his brother Wang Dehai that as long as he pressured Jiang Chen, Jiang Chen without any background would immediately recognize the situation and obediently give up Future Technology’s share, allowing the Wang family’s assets to successfully leave the real estate market.
But by the looks of it now, the promise fell through.
“How many times did I tell you, don’t corner him to the wall. Now that he has left, what did you get out of it?” Wang Dehai’s finger pressed forcefully on the newspapers as his lips trembled in anger.
Seeing that his brother was so furious, Wang Linhua’s expression remained awkward.
“Ahem, Dehai, it was not me that pressured him too hard, that guy did not recognize the situation at all. He didn’t understand that a shared interest would create a better business. To be honest, a market cap of ten billion, five billion for 50% of the shares was a generous offer. How many tech companies would kill to acquire venture capitals and equity infusions-”
“Bullsh*t!”
Perhaps because Wang Dehai had received pressured from the central government on this incident, Wang Dehai had lost his cool and he cursed at his younger brother.
“Market cap of ten billion? Future Technology’s profit is above ten billion, with a P/E ratio of 20 times, calculate the market cap for me? Do you know what the old guy from the Liu family told me? I will gift these words to you, those embarrassing actions will be the end of us!”
It indeed didn’t sound eloquent at all. Wang Dehai’s emotion was also enraged when he said it as it made his chest pump violently.
“I am being considerate of the Wang family’s assets. Especially since the tech company’s market cap can’t be calculated this way. Future Technology is highly profitable now, but they only managed to do so because they formed a monopoly. With the rapid pace of technological transformations, once a similar artificial intelligence system exists, or phone enhancement programs are introduced, it would be impossible to maintain their current profitability levels,” Wang Linhua argued for his own perspective.
Wang Linhua’s perspective was certainly not without reason. People were willing to spend 10 RMB a month to upgrade to VIP1, which was for the phone enhancement function as well as a battery saver. Once a free replacement is introduced, even if the functionality was weaker compared to Future 1.0, it was not hard to believe some users would choose the free app.
With the rapidly changing landscape of technology, in his view, it was entirely possible.
But what he didn’t know as an outsider to the industry was that all the major tech companies had lost countless brain cells trying to crack the encryption technology of Future 1.0 and could not break a single function of Future 1.0.
Because of this, the investors were very interested in Future Technology.
To Wang Linhua’s explanation, Wang Dehai was clearly not pleased. But since he already yelled at him, he let out some of his anger. And based on the consideration that Wang Linhua was not wholly to be blamed as he was the person who agreed to this, Wang Dehai took a deep breath and put that aside for now.
Seeing that Wang Dehai’s expression became more relaxed, Wang Linhua also felt relieved.
Wang Dehai picked up the teacup from the table as he soothed his throat. “Let’s not talk about this, for now. You mentioned the transitioning of Linhua Group, how is that going?”
Since the conflict had already occurred, it was pointless to be angry about it. Compared to Future Technology, Wang Dehai was more worried about the Wang family’s assets. As the general secretary of Wanghai City, he certainly knew the dire circumstance Linhua Group was in.
It was fair to say, the reason that Linhua Group could acquire bank loans was partially attributable to Wang Dehai’s reputation.
When he heard Wang Dehai ask about Linhua Group, a proud expression appeared.
“Haha, I was about to bring some good news. We recently received a ten billion USD construction contract.”
“Ten billion?!” Even to Wang Dehai who had seen the ups and downs of life, he still exclaimed out of shock.
“That’s right, and it is a contract from overseas!” With an ecstatic expression, Wang Linhua continued, “The contract has been signed with an expected direct profit of over five billion! The 110 square kilometers of land on the main island as well as the 70 square kilometers on a nearby island used as payment for part of the contract, could double in value in five years based on the potential of Pannu Islands! Without exaggeration, once we finish the deal, Linhua Group’s value could break one hundred billion RMB!”
Wang Dehai finally nodded his head, pleased.
Misfortune may be an actual blessing.
Although the ten billion market cap of Future Technology had left Wanghai City, it created a Linhua Group with a one hundred billion market cup.
The expansion into the international market had solved the dire situation the Wang family’s assets had faced.
Wang Dehai’s mood became a lot lighter.
The only issue was if he could still laugh so brightly in a few months time.