"As the most vast country in West Africa, Kanem is a complex and changeable tropical desert, grassland, rainforest, plateau, mountain, etc., we should build a larger-scale test center there, and all the engineers and technicians in the country should be thrown over on a regular basis to be baptized......

Gu Fan rushed to Kanem this time, on the one hand, to conduct a technical survey of the field use of Huachen's existing pickup truck models in Africa, and to sort out the development ideas of new models together with Tianyue Industry's previous engineering and technical personnel in Africa, and at the same time, to directly pull the newly recruited Chewler engineering and development technicians to Kanem for integration.

Although he did not stay in Africa for a long time, and was recalled to China by Cao Mo in just two months, he was deeply touched by the harvest and feelings.

The economic development of the whole West Africa is extremely lagging behind, and the demand for new cars in the automobile market is limited, which may be 150,000 or 60,000 per year, but there are almost more than 400,000 second-hand cars every year, from Europe and the United States and other countries across the ocean, mainly through the port of Draculamo, and spread to the countries and cities along the Gulf of Guinea.

As the most densely populated and prosperous city in West Africa, Draculamo digests 60,000 or 70,000 second-hand cars every year - which also makes Draculamo's second-hand disassembly industry unusually prosperous, which is unimaginable for Gu Fan in China.

Before Gu Fan arrived at Kanem, he was worried that he would not be able to find enough familiar technicians to provide the necessary support for their technical exploration, but after Draculamo landed, he had not recovered from the shock of the Atlantic Ocean and the fatigue of the thirty-hour journey, and he found that his worries were completely unnecessary.

Whether it is the level of familiarity with the structure of ordinary vehicles or the level of hand-made parts, the technicians of Draculamo used car disassembly and assembly factory have shown a level that far exceeds the level of employees in domestic refitting factories;

After Tianyue Industry clarified the strategic direction of first launching the pickup truck production line and then producing small off-road vehicles on the pickup truck platform, Xu Lizheng directly recruited senior technicians from Draculamo's major second-hand car disassembly factories to join the application technology research and development center.

When Gu Fan and the others arrived, the Conairo Application Technology Center had already manually modified an off-road vehicle that could be used on the road on the basis of a Huachen pickup, and the Conero Application Technology R&D Center also proposed three plans for the performance improvement of Huachen pickup.

The underlying technical level displayed by the Conero Application Technology R&D Center is too strong, and it is no longer comparable to the car maker, which in itself brought a great shock to Gu Fan, and also calmed down the disgruntled development engineers who were proud in their hearts, were sent to Africa after being recruited, and were full of grievances.

Of course, the senior technicians employed by the Application Technology R&D Center have a very limited grasp of the electronic, electrical and vehicle integrated system technologies that have been developed in the past 20 years and are rarely used in low-end passenger cars and transport vehicles.

This made Gu Fan regain their self-confidence and be convinced that they were the main force in the development of vehicle technology.

Of course, this strong complementarity and promotion made Gu Fan work in Kanem for two months with excellent results, and if it weren't for this, he didn't think that the Turnsmith Laboratory would be able to complete the relevant preparations for the development of vehicle technology within half a year.

Xu Lizheng also returned to China for a rare vacation this time, talking about his thoughts on working in Africa and his thoughts on development work:

"The new car market in Africa is still narrow, and the next ten or twenty years are probably destined to be dominated by used cars, and most African countries, including Kanem, do not have a mandatory scrapping system, which further consolidates the dominance of used cars in the African market. Now there are two situations, worthy of Tianyue industry to pay attention to, excavation: one is that Africa's second-hand cars are currently mainly imported from European and American left-hand drive countries, as more and more domestic passenger cars have entered the emphasis on scrapping period, the export of second-hand cars from China to Africa will become profitable. The second is what I just said, in most countries in Africa there is no mandatory scrapping system, a large number of second-hand cars are beyond imagination, and when there is a problem, I think of not replacing a new car, but repairing. This makes the demand for spare parts in the life cycle of a car in Africa much higher than in China, Europe and the United States. Of course, whether it is the export of second-hand cars, or involved in the trade of spare parts and upstream production, compared with the future investment plan of Tianyue industry, there are still some small things, but Tianyue's cars want to gain a firm foothold in Africa in the future, and after-sales service and the ease of use and availability of spare parts will play a pivotal role. I was thinking, yes

How to combine the trade of second-hand cars and spare parts with the establishment of our market service supporting system in the African market in the later stage. Perhaps Tianyue Industry does not need to get involved in this field, we noticed that the Tubman family has invested in a small trading company founded by middle school students, and has tried to export domestic second-hand cars to Kanem and other countries, and also involves the trade of some auto parts......"

When Stari was studying in China, she established the Central and West African Middle School Students Entrepreneurship Association, and invested three to four million dollars in a number of start-ups. In the past two years, the development of PALM's West African e-commerce platform has been relatively strong, and after the collapse of the Jidam family, the biggest mission of the Central and West African Middle School Students Association has been completed with Cao Mo, who pays little attention to other companies - he does not have the energy.

He didn't know that there was a company founded by middle school students, which actually involved the trade export of second-hand cars and spare parts, which had already attracted the attention of Xu Lizheng and them.

Through the input of second-hand cars and spare parts, and then the layout of second-hand car refitting factories and auto repair factories in African countries, to ensure that Tianyue can have stronger genes in after-sales service and spare parts supply in the African market in the future, which requires a very large and deep layout in Africa.

If Tianyue Industry is directly responsible for this matter, it will be big and inappropriate, and it may not be able to better integrate into the local market, invest in affiliated companies, exert influence, and guide it to develop in a direction that is more conducive to the future market layout of Tianyue Industry, which will undoubtedly be more effective with half the effort.

............

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After the Spring Festival in 09, the global economy is far from coming out of the quagmire of the crisis, and the domestic foreign trade export situation is still severe, but the domestic securities market and real estate, building materials and other industries, benefiting from the turn of monetary and fiscal policies, relying on the implementation of a large number of infrastructure projects, there has been a strong and rapid rebound.

During this period, the scale of Dongsheng Real Estate's liabilities on the surface did not decline, but rose rapidly to 40 billion, but after the Spring Festival, real estate sales continued to flourish, and by the end of June 09, the scale of pre-receivables expanded sharply, increasing to 28 billion, making Dongsheng Real Estate's actual liabilities drop by less than 12 billion.

Dongsheng Real Estate worked hard for two years, and finally borrowed the shell of Dalian Silver Star Group, a listed company, to successfully achieve listing, with the strong rebound of the securities market, the market value of Dongsheng Real Estate once reached 40 billion, among the top ten listed real estate companies.

During this period, the share price of Dongsheng Group also continued to rise, and the market value once recovered to a high of 20 billion.

Not counting other assets, Ding Zhaoqiang's family holds 35% of the equity of Dongsheng Real Estate and 30% of the equity of Dongsheng Group, and ranks among the top five of the Xinhai rich list with an ultra-high net worth of 20 billion, continuing to leave Yu Jinjie, Yu Yiming and Qian Wenhan behind.

And many people know that Han Shaorong's personal net worth, with the strong rebound of the securities market, will inevitably regain the top position of the Xinhai rich list, but Han Shaorong's personal assets are not only completely integrated into Huamao Capital, but also registered a number of isolated companies, and dispersed and mastered the huge capital of Huamao active in the securities market, which is very dazzling, and it is difficult to estimate what tonnage Han Shaorong's personal net worth has reached.

Cao Mo does not have the energy to sort out how much capital Han Shaorong and Huamao Capital have in the domestic securities market for the time being.

Taking advantage of the backdoor listing of Dongsheng Real Estate, Tianyue Investment transferred part of its shareholding in Dongsheng Real Estate to Dongjiang Securities, and reduced its shareholding to 10% after the backdoor listing of Dongsheng Real Estate, but the 1.8 billion funds obtained from the reduction of shares were returned to the payment payable account of Conero Foods.

In other words, Tianyue Investment borrowed the funds that should be nominally included in the debt of Conero Foods for half a year, and finally exchanged for a 10% stake in Dongsheng Real Estate, which has a market value of up to 4 billion yuan, and in addition, Tianyue Investment also owns a 5% stake in Dongsheng Group, which has a market value of up to 1 billion yuan.

Tianyue Industrial's domestic business has not recovered, and its performance has been mediocre, and the disclosure of overseas assets, although stable earnings, has caused the market to worry.

Therefore, in this strong rebound in the securities market, the market value of Tianyue Industrial has only recovered to 4 billion.

Through the M&A fund of Dongjiang Securities, Tianyue Investment actually holds about 32% of the shares of Tianyue Industrial, and the converted market value is far less dazzling than the shareholding of Dongsheng Real Estate and Dongsheng Group.

Even though Cao Mo has never been publicly interviewed by the media, because of the need for information disclosure, he is the actual controller of Tianyue Investment after the Spring Festival in 09

It also frequently appears in the newspapers.

Even if the shareholding of listed companies is converted into market value, it is far from being comparable with Ding Zhaoqiang and the Ding family, but there is already a place for Cao Mo on the Xinhai rich list.

However, Cao Mo is not concerned about his ranking on the Xinhai Rich List or the National Rich List.

He is more concerned about the miraculous African economy, how long it will take for a turnaround, and how much capital he has at his disposal.

After the subprime mortgage crisis broke out completely and swept the global economy, Cao Mo once transferred more than 3 billion yuan of huge funds back to China through the account of Conero Foods, but with the successful backdoor listing of Dongsheng Real Estate, a part of the capital injection of Dongsheng Real Estate was transferred back to the name of Conero Foods.

This period includes a total capital injection of up to 800 million yuan into Tianyue Industry, including a total increase of more than 250 million yuan in Dongsheng Group, including taking over a part of the equity of Xinhai United Bank, participating in the M&A fund to win a controlling stake in Tianyue Industry, and participating in the trust fund issued by Dongjiang Securities one after another, Cao Mo's actual investment in China during this period is only 1.8 billion yuan.

Conero Foods was tormented during this time, affected by the economic crisis, the main business declined greatly, almost no revenue in the first half of the year, barely incurred losses, but the account of the payment payable, but the huge amount of money hoarded up to 2 billion yuan - this fund can be transferred overseas at any time in the form of payment.

The international gold price briefly fell to about $700 per ounce in October, but before the Spring Festival, it soon rose back to more than $900 per ounce, and by the end of June 09, affected by monetary inflation and strong safe-haven demand for international funds, the international gold price returned to a high level of $1,000 per ounce.

In the early stage, the Wusanhe copper-gold mine was mainly based on the construction of mines and supporting projects, which was difficult to provide much profit for the Ibogu Mining, but the gold mining projects such as Ibogu, Oguta and Fane River have already been completed.

The total investment of nearly US$300 million in these gold projects and the refinery in the Lake Conero Industrial Park has not yet been able to realize the potential of these projects, but the monthly gold production of Ibogu Mining, including the refining of gold-bearing ores, has increased to 70,000 ounces per month.

Unlike domestic gold mining, which requires the payment of resource tax, value-added tax, corporate income tax and many other taxes, the proportion of tax costs for resource mining in the entire West African continent can be said to be outrageously low.

Taking Kanem's oil exploitation as an example, international crude oil futures peaked at nearly $150 per barrel, and the tax cost was only $4.7.

This is also due to the fact that African countries seemed to have achieved independence in the sixties and seventies, but in fact they were not completely free from the influence of colonial rule and invisible economic control.

The Ibogu Minerals' gold mining is concentrated in Kanem, Akwa and Benin, with Akwa having the highest tax cost, but the total tax cost per ounce of gold is less than $50 when the special tax on resources is included.

This has enabled Ibogu Mining to convert most of the rise in international gold prices into net profits. The scale of gold mining and refining of Yibogu Mining is still a big step behind Xinhai Gold, but the net profit scale of related businesses has surpassed that of Xinhai Gold - Xinhai Gold is stronger, in addition to gold mining and refining, it has fully entered the field of non-ferrous metal mining and smelting.

Akwa, Kanem, Benin and other countries have fragile economic structures and extremely weak ability to withstand the impact of the economic crisis.

In order to resist the impact of currency depreciation, Ibogu Mining is hoarding physical gold as much as possible, and even its usual operating expenses are to borrow cash from Conero Cement, and Ibogu Mining is currently hoarding more than 300 million US dollars in gold ingots.

After the price of finished cement in Kanem and other countries fell below the average cost line of the industry, many cement companies were forced to reduce production and stop production, and even some cement companies went bankrupt and closed, resulting in a sharp supply of finished cement, and the relationship between supply and demand was relatively balanced, and the price did not continue to decline sharply.

Also in order to resist the impact of currency depreciation, the cash collected by Conero Cement from the market, in addition to maintaining its own operations, basically lends its profits directly to Ipgu Mining, and there is not much capital surplus.

However, in any case, Cao Mo has nearly $600 million in cash in his hand at this stage, which can also be said to be quite proud......