Chapter 560 High-quality assets
Brother Xiao Ma visited the newly built courtyard house and liked the design of Fan Wumian's house very much. He planned to buy 3000 square meters of land and build a similar courtyard house in Guaibang Hutong so that he could occasionally receive friends.
Fan Wumian bought the neighboring land of more than 13000 square meters and promised that starting from next year, that is, 2007, the tax paid by the Bandit King Fund in Yanjing for five consecutive years would not be less than 2000 million yuan, and the total investment in construction would not be less than 1 million yuan.
Setting some prerequisites is still to facilitate the review.
Nowadays, as long as entrepreneurs are willing to invest and pay taxes according to the rules, many things are very easy to negotiate. If you are willing to invest several billion RMB, you may even have the opportunity to acquire a Qing palace covering tens of thousands of square meters and use it as a private residence.
According to Director Chen, the area near the old course of Yuhe River had originally been planned as a commercial and residential area. Instead of just selling the land as a one-time deal, Fan Wumian and Xiao Ma Ge both promised to pay the minimum tax, which was obviously more beneficial to the Yanjing officials.
The area of land that can be acquired is larger than expected. In addition to being used as the office of the Bandit King Fund, part of the land seems to be able to be built into an inn.
Occasionally, it is provided free of charge to artists who come to Yanjing on business trips, and as a benefit to major clients of the Bandit King Fund. At other times, it is rented out at a high price. It is estimated that the cost can be recovered within two to three years.
The location of Guaibang Hutong is indeed good. It is close to Beihai, Qianhai, Nanluoguxiang, Jingshan Park, and the Forbidden City. It is near the end of the year, and spending money in a rush can reduce the company's revenue and thus avoid some taxes.
The land in this place is commercial and residential in nature, so its price is not as high as residential land. The price per square meter is only three to four thousand yuan. In Fan Wumian's eyes, it is really no different from picking it up for free.
The HK$20 billion loan from Bank of China (Hong Kong) has been approved. According to President Wei, the loan can be arranged as long as the procedures are completed in a few days.
The share price of Penguin Group has been rising, which also means that Fan Wumian can borrow new money to repay old debts, and the financial pressure he has faced recently has dropped sharply.
In addition, while the mainland Bandit King Fund is still going through the process, the Hong Kong City Bandit King Fund has already prepared to start operations. With such a brand new "super money printing machine", Fan Wumian obviously has the capital to be willful.
This is also the direct reason why he has continued to spend lavishly recently, not only eyeing the land of the Olympic Village, but also trying to acquire 48% of the shares of Boshi Fund.
The bank loan interest rate is so high that the total interest to be paid back in a year adds up to 500 to 600 million yuan. The principal can be repaid later, but the interest must be paid on time.
Every day when he opened his eyes, he owed the bank more than one million Hong Kong dollars, forcing Fan Wumian to constantly find ways to make money, otherwise he would have to sell off his high-quality assets in advance.
From a long-term perspective, it is clear that it is a huge profit, but the financial pressure in the short term should not be underestimated. Assets like Tudou, Penguin shares, and the newly acquired Amazon shares are all excellent assets that can appreciate a hundredfold. Giving up any of them will make Fan Wumian feel painful.
This has prompted him to frantically look for opportunities to make quick money recently. For example, the batch of Sanyao Heavy Industry stocks he invested in previously have also risen sharply recently. According to the information Fan Wumian received, this year's profit is expected to increase by about 150% over last year. Once the news is released, the stock price will definitely rise sharply.
We talked for more than an hour in the sun among a pile of building ruins.
Afterwards, Fan Wumian and Xiao Ma Ge went to the hotel to meet with Mr. Guo from Morgan Center for dinner and discuss the acquisition in person.
Although Boss Guo is enthusiastic, he also reveals a shrewd commercialism. If it weren't for the broken capital chain and the risk of the land development rights being reclaimed, he probably wouldn't easily give up the big piece of fat meat of Morgan Center.
It's a pity that he is not strong enough, and he is almost dying from trying to swallow an elephant like a snake. Multiple departments are wielding sticks one after another, which almost makes Boss Guo confused.
So after a long argument at the table, he finally gave in a little. Faced with Fan Wumian's maximum offer of 13 billion yuan, he agreed to go back and think carefully about it for a few days before giving a reply.
After the show, the two men walked out of the door of Yanjing Hotel drunkenly. Fan Wumian said to Xiao Ma Ge:
"What do you mean by 'consider it for a few days'? I guess he wants to take our offer and look for other buyers, or attract new investors. This guy is not very reliable. He is slow and indecisive. He is not straightforward at all."
Xiao Ma also drank a lot of wine at noon. He rubbed his stomach and took a deep breath, then replied:
"It felt like someone's white glove, but it was hidden so well that I didn't find out the details. Don't worry about it. Business is one thing, and we bought the land and developed it in a lawful manner. Even if something happened to Boss Guo, it would not involve us."
"The price has been given. You can sell it if you want. Chaoyang has found a piece of land for us in Wangjing. If this place doesn't work, we can go there. The rent nearby is cheaper and the living facilities are convenient. It's actually more suitable for starting a company."
"The main advantage of the Morgan Center is the good environment. We can take advantage of the Olympics and advertise for our Penguin Group. Other aspects are similar. There are only 2000 parking spaces in total, which is a bit too few." After a burp, Fan Wumian took the yogurt handed by Pu Jiajing and continued:
"I first set my sights on the Morgan Center because I knew it was unfinished and I thought I could get a bargain. If the price is within 13 billion, it's worth a try. If it's higher than that, then it's not necessary."
"There are still many old buildings in Yanjing now. If the investment amount is a little larger, maybe some outdated old buildings can be demolished from Chang'an Avenue. Almost every tourist will pass by there. In the long run, the advertising effect will be better and it will also be conducive to the appreciation of real estate."
"Let's not talk about anything else. Just based on its location, the housing prices are at least 30% to 40% higher than other places."
Brother Ma laughed and said:
"We'll discuss it later. I can't do it anymore. I need to go to the hotel to take a nap. I feel dizzy and can't stand it anymore."
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Two more days passed.
There is no news yet from Mr. Guo of Morgan Center, but the more than 13 hectares of land in the Olympic Village and the land next to Guaibang Hutong were all approved to Fan Wumian on an expedited basis.
Xiao Ma Ge also got what he wanted and got a full 3000 square meters of land.
The speed was so fast, obviously because they were worried that the two of them would change their minds and move the Penguin branch to another place. With thousands of high-paying jobs and a total investment of two to three billion, how could the higher-ups not take it seriously? They gave them the green light from beginning to end, wanting to occupy the position first, for fear of any unexpected changes.
After receiving the news, Fan Wumian went to take a look at the Olympic Village which was under construction.
You can see that near the land allocated to you, there are facilities such as a tennis center, a Dragon King Temple, a football training camp, and a basketball training center. It is next to the huge Olympic Park and there is a large parking lot reserved for the Olympics next to it, which will not be demolished in the future.
Apart from the possibility of earning less from parking fees, there is nothing wrong with it in other aspects.
Assuming that the Olympic Village will be sold out around 2009, he can then slowly start construction and then delay for another two or three years under the guise of fine decoration. Maybe it can be put on sale around 2016, and it is likely that the price will be 8 or 9 per square meter.
Now, if the floor price of the land is calculated based on the surrounding average price, a commercial house with a 70-year property right will only cost more than 3200 yuan.
This allowed Fan Wumian to make reasonable plans in advance. He went to Gangcheng to find a company to help with the design and prepare to make the best use of the land. Anyway, the Olympics would have been over by then, so it didn't matter even if he built 40 or 44 floors like Tangcheng Yipin.
Residents can overlook the entire Olympic Park, the Bird's Nest, and the Water Cube from their homes. The scenery is amazing.
While walking around and visiting the temporary courtyard built specifically for the Olympic Village, Fan Wumian unexpectedly received a call from the family office.
An employee named Qi reported:
"Hello, Mr. Fan. I have already asked about Boshi Fund. It's a little troublesome. Its major shareholder, Xinxin Trust, was investigated last year for misappropriating client trust funds and bank loans. This batch of shares has been temporarily seized and may be auctioned and sold publicly."
"Also, there is a regulation in the mainland that the same actual controller can only hold a controlling stake in or a minority stake in one fund company. You already have shares in Bandit King Fund and China Merchants Bank Trust. You need to ask someone to find out whether you are eligible to participate in the auction. China Merchants Bank Securities also seems to be interested in this batch of Boshi Fund shares."
"I will contact the consulting company to clarify the situation and then send the relevant information to your email?"
"."
Fan Wumian is not Baidu, so how can he know everything? After hearing this regulation, he just felt that this regulation disrupted all his plans.
He frowned and pondered for a moment before answering:
"It should be possible to solve this problem. For example, we can set up a family trust fund like Li Chaoren's and put the shares of China Merchants Bank Securities into it. This way, we can free up another shareholding quota."
As they still don’t have any children, Fan Wumian had never considered setting up a family trust fund.
Now that I think about it, it will happen sooner or later anyway, so it doesn’t hurt to set up a family trust fund in advance, which can be used to reduce the total assets on the surface, so as to avoid being slaughtered like a pig one day because of being too valuable and too high-profile.
(End of this chapter)