Chapter 1207 The huge red rock


Chapter 1207 The huge Hongyan

After chatting with Xia Changsheng, Xu Liang found the operation report and financial statements of Hongyan Fund from his email address.

The Hongyan Fund has non-business departments, such as the Finance Department, the Human Resources Department, the Logistics Department, etc.

For example, the Ministry of Security, Hongyan Security and its hacking department, "Black Wuchang", and the mercenary team "Bai Wuchang", all the benefits are used for themselves.

Xu Liang even pays for subsidies by himself from time to time.

There are four main business departments:

Financial Investment Department: Responsible for managing equity assets under Hongyan.

Investment Management Department: Responsible for supervising Hongyan's enterprises.

Owned Assets Investment Management Department: Mainly responsible for managing real estate, artworks, cash, short-term debts, etc. under Hongyan.

Strategic Investment Department: Responsible for the "Gonggong Plan" and the "Zhurong Plan" that started pre-research and the "Dijiang Plan" that bought the bottom after the secondary debt crisis.

The asset portfolio of the Financial Investment Department includes:

Apple 14.9%

Amazon 15.2%

Standard Chartered Bank 36.7%

Ali 24.8%

Moutai 14.7%

BYD 19.5%

Google 10.3%

Hermes 15% [half of the voting rights]

Unico China 51%

Total 9.

Standard Chartered Bank, Alibaba, Moutai, Hermes and Unico China have not been transferred.

The rest sold half of the shares.

The funds recovered were $21.7 billion, of which Apple had the highest returns.

With the popularity of iPhone sales, Apple's market value once broke through the 100 billion US dollars mark.

Because it is so popular in the market, Hongyan's move to sell Apple's equity has not affected its stock price.

At the same time, Hongyan also gained huge returns.

6.9% of the equity returned a return of $6.37 billion.

The profit is 22 times in five years.

The second is Google. Before the mobile Internet matured, the most popular one was search companies.

Although Google in this life missed the throne of the world's number one Internet search company under the competition of Hongmeng Bing.

But its almost dominant position in the global English market has made it profitable.

It also brings amazing market value.

Right now, Google's market value is close to $120 billion.

5% of the shares brought in a return of $6 billion.

Three-year return on investment is 2.5 times.

Then is the Investment Management Department.

It owns seven companies.

Kunlun Industrial Group

Fenghu Agricultural Group

Torch Automobile Group

Marvel

NBA Warriors

Penguin Group

NBA Warriors transfer 50% of their equity to the "Phoenix Fund" and benefited US$2.1 billion.

Other companies basically don’t pay dividends.

But the valuations of the seven companies have increased to varying degrees.

The highest is Penguin, whose latest valuation has expanded to $40 billion.

Asset Management Department.

This is the largest department under Hongyan.

Including the real estate investment department, precious metals investment department, art investment department, and bond investment department.

The Real Estate Investment Department manages office buildings of Hongyan’s global branches, such as No. 33 Baijia Road, Xiangjiang.

Precious Metals Investment Department.

This is the department established by Hongyan after taking over Hanhua's precious metals assets.

Mainly rare earths and lithium.

Hanhua started investing in 2001. At the beginning, the company didn't have much capital, which was only tens of millions. Later, Hanhua achieved a great harvest in the capital market.

Investment quota has increased rapidly.

So far, Xu Liang has invested nearly seven billion US dollars in this.

The Chinese rare earths of this era are really too cheap.

One kilogram of light rare earths is only 900 yuan per kilogram, and it fell to a few dozen yuan at its lowest point in 2001/02.

Even medium and heavy rare earths are only 5,000 yuan per kilogram now, and the cheapest one is only 1,000 yuan per kilogram.

Compare the high prices in the future, of course you have to hoard them hard.

Now, the precious metals investment department under Hongyan has hoarded 60,000 tons of light rare earths, with an average purchase price of 330 yuan per kilogram, with a total investment of 18.3 billion Huaxia coins.

Compared with light rare earths, medium and heavy rare earths are the focus of investment in the precious metals sector.

However, the production of medium and heavy rare earths is too small. Of the annual rare earth production of more than 100,000 tons, only about 30% are medium and heavy rare earths.

So the price is relatively high.

In more than six years, Hanhua has hoarded 13,000 tons, with an average purchase price of 2,310 yuan/kg, and a total investment of 30 billion Huaxia coins.

Total is 99.6 billion Chinese currency, which is equivalent to 6.8 billion US dollars at the current exchange rate.

After six years of investment, this part of the assets has increased by about 1.3 times, with an average annual return rate of about 20%, which is quite good.

In addition to rare earths, there is also lithium ore, mainly lithium carbonate.

When Hanhua first entered the lithium carbonate market in 2001, the price was only 16,000 Huaxia coins per ton.

From 2001 to 2005, the price of lithium carbonate has been very stable.

Hanhua also invested US$2.75 billion in it and acquired 1.375 million tons.

But lithium carbonate is different from rare earths. The price of rare earths has grown steadily, but it has never soared. Therefore, Hongyan Precious Metals Investment Department has been steadily earning and has never sold it.

But lithium carbonate is different. In 2006, due to the surge in demand for consumer electronics, it directly surged from 16,000 yuan/ton to 80,000 yuan/ton.

Although Xu Liang knew that lithium carbonate had truly ushered in an unprecedented surge in electric vehicles after the rise of electric vehicles.

But electric vehicles have been soaring for more than ten years, and it is impossible for him to stock up on them for so long.

And even if it is sold, there are many opportunities to buy it back later.

A direct wave of stuart was sold to domestic lithium companies such as Tianqi Lithium, Ganfeng Lithium, and China Mining Resources at a price of 76,000/ton, making a direct profit of US$11.56 billion.

Although the price of lithium carbonate fell a certain amount in 2007, it always hovered around 50,000 yuan/ton, considering that the sub-debt crisis is approaching.

Xu Liang did not order to buy it again.

So there is no lithium carbonate under Hongyan now.

The art investment department is not large in scale, and basically only enters and does not leave.

For so many years, Hongyan has invested about US$3 billion in it, basically investing in Chinese art, mainly calligraphy, painting, oil painting, and overseas bronzes and porcelain.

The famous Yuan blue and white "Guiguzi went down the mountain" was taken into his pocket.

Finally, there is the Bond Investment Department.

This department mainly collects corporate bonds with high returns and relatively safe globally.

Since 2005, Hongyan has invested US$16 billion in this sector, with an average annual return of about 8%, and a total profit of US$2.66 billion in two years.

The last is the Strategic Investment Department.

The Gonggong Plan, Zhurong Plan and Dijiang Plan are only major investment actions under the Strategic Investment Department, but the Strategic Investment Department is not the only one with these super-large investment plans.

There are also some small-scale investments.

For example, since 2005, investment in oil, iron ore, gold futures, etc.

Hongyan and Hanhua have different investment strategies. Hanhua is getting as high returns as possible, but Hongyan's investment strategy is stable. The investment scale in futures has always been controlled at around 10 billion US dollars, and the leverage has always been only twice as high.


But in 2006 and 2007, the energy industry exploded, and Hongyan also made a profit.

The average floating increase was 1.3 times.

Including leverage, the floating increase was 2.6 times.

One hundred billion, making $26 billion, making a fortune.

If he hadn't been afraid of being dragged down by the subprime mortgage crisis, he would have closed his position in mid-2007 and would have made more money.

The next thing is the profits of Gonggong Plan. Although most of Xu Liang distributed to Hongmeng, Taihua and other companies, he still left Hongyan 20 billion US dollars.

Finally, it's cash.

In 2005, he and Soros competed against the global gold market, and after winning, he gained amazing returns.

At that time, the cash flow under Hongyan once expanded to US$77.175 billion.

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They will help their companies, such as Kunlun.

Its acquisition of Gree Air Conditioner, Meiling Refrigerator, and its later R&D funds were basically given by Hongyan. Xu Liang received US$2 billion.

Add to some small-scale investments, such as real estate, money given to one's own women, it cost about $500 million.

Deduct the principal required for investment.

For example, the 10 billion US dollar principal invested in energy futures, the principal invested in artworks, precious metals, etc.

The cash on Hongyan's account has been maintained at US$40 billion.

Of course, this money will not be just lying on the account, but will be mainly overnight lending and treasury bond investment, which is stable and profitable.

Benefits from the positive news brought by the Federal Reserve's interest rate hike.

Interest interest on overnight loans has also continued to rise.

In two years, the interest rate can be basically maintained at 5%.

According to the calculation, it brought about $2.3 billion in revenue to Hongyan.

Overall, Hanhua's net profit before tax was $79 billion and his after-tax income was $63.2 billion in the past two years.

Deducting expenses in precious metals, artworks, salary expenses, corporate investments, etc., Hongyan's account now has $120 billion in cash, $20 billion [including leverage of $60 billion] short positions in the US subprime bonds.

A $5 billion worth of art.

Rare earth investment worth US$13 billion.

Equity assets worth US$44 billion [according to February 2008]

Corporate assets worth hundreds of billions of dollars.

Add some real estate.

As of the end of February 2008, Hongyan had a total of US$303.2 billion in total assets, US$120 billion in cash and zero liabilities.

This is just Hongyan. Hanhua's assets are not inferior, but Hanhua's assets are even more complex and have not been sorted out yet.

In addition, after constantly selling assets, Hongmeng, which has a cash flow of hundreds of billions of dollars, and the "Xu Family Member Charity Foundation" that received huge donations from Hanhua.

Xu Liang's estimate of his net worth of $500 billion seems to be a bit conservative.

——

When Xu Liang counted his own property, he unexpectedly got a call from Peter Thiel. Considering that the other party's Thiel fund was a large shadow fund under his name, he earned him billions of dollars, he did not refuse.

But the location is in a bar.

When Xu Liang arrived here, Peter Thiel was already sitting by the railing on the second floor, drinking alone while enjoying the singing and dancing performances on the big stage downstairs.

"Xu!" Peter Thiel stood up with a smile on his face, punched Xu Liang, and called the latter to sit down. "Everyone said you made a lot of money." Peter Thiel said with a smile.

Xu Liang smiled and said, "Didn't you make a lot of money?"

As the shadow fund of Hongyan and Hanhua, Thiel Fund, after making money from sub-debts, Peter Thiel was not satisfied with the 5% share and began to learn from him to short sub-debts.

Although he entered the market late, he also made a lot of money.

"My fund has been liquidated and will be transferred to your designated overseas accounts within this week."

Peter Thiel poured himself a glass of wine, raised his head and took a big sip, and then said, "The outside world thinks that Thiel's fund has made $14 billion, but in fact it's mostly yours."

Afraid of his misunderstanding, Peter Thiel hurriedly added, "I'm not complaining about anything, on the contrary, I want to thank you.

Follow you, I have also made more than $3 billion.

At the same time, benefiting from this industry's top performance, as many as tens of billions of dollars of funds poured into the Thiel Fund last year.

Even if you deduct your shadow fund with a scale of US$10.6 billion, the asset management scale of Thiel Fund has reached nearly US$20 billion.

The outside world has regarded Thiel Fund as a strong competitor to the top ten hedge funds in the world this year! "

Speaking of this, Peter Till spread his hands, "To be honest, the scale of asset management has soared, making my team and I not know how to invest. This is a really happy worry. "

Xu Liang smiled. Peter Till's Till's Till's fund was just a venture capital fund that manages $1 billion two years ago.

It was only after I had my own plans that hedge fund department was established.

It has only been a year since he entered the hedge fund himself, and the scale of asset management has soared by nearly 7 times in a very short period of time, which is much easier than when he raised funds himself.

However, on the surface, this is a good thing, but the skyrocketing fund size will put higher requirements on the management team's ability and investment level.

He is not like himself who has memories of his previous life, and can make a lot of money by investing with his eyes closed.

And because of the large amount of funds, it has become a big fish in the market. Many investment strategies in the past have failed, and the company needs to transform.

If you cannot adapt to this transformation, the consequences will be disastrous.

New funds rise every year in the market, but most of them will become popular after the scale becomes larger. The old funds in the market are always those who are powerful, such as Qiaoshui and Deshao.

This is the reason, you can’t even grasp the money you give! "Some changes are needed to allow the company to maintain this size, otherwise it would be a meteor that cuts through the sky. Although it is dazzling, it has existed for a short time." Xu Liang said.

Peter Thiel nodded slightly, "You are right."

After looking at Xu Liang a few times, Peter Thiel wanted to speak but stopped. He wanted to ask the other party Hanhua's next investment strategy, but it was not convenient to inquire about such a high secret even if it was a friend.

He simply threw out the bricks and attracted the attention and talked about the general direction of Thiel Fund's next investment: "I want to invest in US dollars and oil next."

Xu Liang did not ask the specifics, "This is a good direction. Hanhua's next direction should still be the old business, the stock market and the foreign exchange market."

Peter Thiel really wanted to ask in detail, but he looked at the attitude expressed by Xu Liang and seemed not to want to talk in depth.

He understood this, but he couldn't help feeling a little uncomfortable.

I was so proud of myself, but the other party was still so vigilant.

And I am not unilaterally asking for it. I will share some market information collected by the Thiel Fund, and both parties will benefit each other.

He felt that Xu Liang had changed and he no longer had the grandeur and generousness of the past.

In other words, the other party has not changed. Take this short subprime mortgage for example. The other party clearly wants to borrow the name of Thiel Fund to engage in such an action that is likely to attract criticism.

They Thiel Fund did get some benefits from it, but that was also worth it.

If the other party doesn't keep a good deal and share more research reports on the subprime derivatives market as soon as possible, they will have made more than 3 billion US dollars.

The singing downstairs was pleasant, but neither of them was in the mood to listen. They were all calculating in their hearts, and the atmosphere was a little awkward for a moment.

Xu Liang could actually guess that Peter Thiel would have some opinions about him.

But he doesn't care!

I let Thiel Fund win once, which is great.

But the other party's desire was hard to fill, and he wanted to inquire about their second wave of actions.

Nothing at all.

(This chapter ends)

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