Xu Teng's net worth has been stable between US$18 billion and US$19 billion, thanks to the control of various consortiums of Huayin, which mortgaged the securities he held to Huayin to obtain funds to invest in Huateng Group. Pen, fun, and www.biquge.info

Tencent Group's own cash flow is very good, accounting for half of the domestic online game industry, and it is expected that the online game revenue in 2004 will reach 2.7 billion.

Xu Teng works three or four hours a day, almost an hour is dedicated to the online game business, and every new game and major update is released, he has to personally inquire and test it.

On May 14, 2004, Tencent bought Blizzard Entertainment from Vivendi Group for $1.05 billion, which was definitely a major mistake by Vivendi Group, and of course, no one could believe at this time that Blizzard Entertainment would create brilliant results in the next five years.

Memory is Xu Teng's greatest wealth.

He can remember how Jiucheng finally collapsed, not to mention, Tencent Group has the largest game production team in China, "World of Warcraft" is not big in the domestic market, the result is very tragic, it is bigger, other games under Tencent Group completely lose development space, resulting in Tencent completely dependent on Blizzard Entertainment, that is even more tragic.

Xu Teng still has some reliance for the time being, although it is not too strong to rely on, the plug-in problem of "Miracle Mu" has been well controlled, and the follow-up update and development of the game is also very stable.

"Demon Sword" is the most important self-control content of Tencent Games, but it is also the work that will be hit the hardest by "World of Warcraft" in the future.

Kingsoft Software's "Swordsman Love" was beaten back twice by Xu Teng, remade repeatedly, and even the engine was greatly reset, and finally it collapsed without coming out, and the results were stable.

During this time in Koh Samui, Xu Teng thought about a lot of things, and on the first day he returned to Jiangzhou, he held a working meeting of the game department in the company, with 11 teams, plus the Warcraft operation team under construction, a total of 12.

There are three teams in charge of strangling NetEase's "Fantasy Westward Journey", which is very hard, but it still carves up half of the market of "Fantasy Westward Journey", Tencent's advantage is the platform, and almost every game can be ranked in the top fifteen.

Among the top 10 games in the domestic market share, 6 are under Tencent, and "Fantasy Journey to the West", "Legend", "Lineage 2", and "Legend 2" are the four fish that slipped through the net.

On the morning of the first day back in Jiangzhou, Xu Teng held a three-hour meeting, focusing on only one sentence, avoiding "World of Warcraft", and other works should be differentiated and competitive, three-dimensional collaboration, and compete for every small branch space in the market.

After the meeting.

He was alone in the office, making a pot of tea, and slowly thinking about how Tencent's cash flow was strong enough to support the group's own development in the Internet industry, and his biggest vigilance now was Yahoo.

Yahoo's first-mover advantage was not insignificant, losing to Google in search, eBay in auctions, craigslist in classifieds, Microsoft in browsers, and Facebook in homepage.

Everyone knows that Yahoo lost in the end, but how did Yahoo lose it?

Xu Teng didn't know the answer, he could only estimate, first, lack of technology, lost to Google and Microsoft, second, lack of innovation, lost to eBay and Facebook, second, lack of professionalism, lack of focus, lost to craigslist.

Finally, he believes that Yahoo is too big, and that the costs and procedures of its internal operation are too many and too complicated.

During his vacation in Koh Samui, Xu Teng thought about a lot of questions, and for Tencent, he thought about three very important issues, one is the detailed competition of games, the space for domestic game development teams, and the other is to beware of Yahoo-style rout.

The third question is more tricky.

Although Tencent Group's revenue is high, although the cash flow is high, it is not as much as Huawei, and Huawei's revenue this year may exceed 40 billion.

Xu Teng desperately invested 3 billion cash flow in Tencent Communication Technology Company last year for technology research and development, trying to close the gap between Tencent and Huawei.

My heart is congested.

In fact, at the annual meeting of the Huayin Department in July, this issue was also the focus of discussion among all senior partners, and Xu Teng had no way to solve the problem except to continue to throw money.

In the communication equipment industry, the stronger the stronger, in the face of Huawei, which was born to open the stream, Xu Teng and Xu were speechless.

I can't beat each other when I open and hang up, and I'm embarrassed to be thrown home.

Xu Teng thought about this problem for a long time, and had no solution, so he could only log in to his TM management master and open a QQ group at the same time, the group name is very simple, Huayin Department.

All the senior partners of Huayin are in this group, although the number is small, but it is very lively, they are all the chairman of the dominant side, the typing speed is very slow, except for Mr. Xu, who has practiced the Wubi input method, everyone else relies on audio chat.

Jiang Ningyuan, the chief economic adviser of Huayin, still has presbyopia, and he has to rely on audio chat.

The hot topic of the chairman these days is still Yan Xiaoqun of the Sweet department, and the internal news is that the collapse of domestic A-shares has made the Sweet system, which relies heavily on securities mortgage financing, gradually on the verge of collapse.

Yan Xiaoqun has found Zhao Danyang, who is also a capital operation predator in the Yangtze River Delta, Zhao Danyang controls more than a dozen private placements, one in each city, and the capital flow is close to 20 billion yuan.

Of course, the price of private financing is better than that of banks, and it is no different from underground banks anyway, but it sounds better, more formal, and has rigorous internal financial statements.

Zhao Danyang's reputation is very good, in the past eight years, from 96 to 2004, Zhao Danyang started from the earliest 200 million private placements, and has developed so far, basically guaranteeing a minimum rate of return of 7% every year.

In previous years, as long as Yan Xiaoqun was in need, he called him, and Zhao Danyang didn't need to sign a contract, so he sent him 20 million yuan for emergency first.

This time.

Zhao Danyang did not remit money, and told Yan Xiaoqun very seriously that the central bank locked the monetary base to curb investment, and borrowed money everywhere, and the "big boss" is now targeting several large projects worth tens of billions of yuan, and it is difficult to obtain financing.

In fact, as long as the central bank tightens, the private equity business should not be too easy to do, and the annual interest rate of any debt is more than 10%.

Zhao Danyang has a bad problem, he likes to pretend to be ruthless, he always snorts coldly and angrily, "Flower Fox" Zheng Hua likes to laugh haha, and he also likes to sing and harmonize, "Big Boss", "Boss Lady", "Prince Teng" all like to call them hum two generals, and others say the same.

Although Li Dongsheng and Chen Daqiao are newcomers to the Huayin system, they also call them so.

"I said, hum Ha Erjun, don't just talk about it, the assets of Little Swan are real high-quality assets, and I am now ready to buy them. Li Dongsheng was anxious, although Huayin is an internal cross-shareholding, who is making money, other senior partners are making money, but if you really want to earn more profits and dividends, you still have to rely on the project you are responsible for.

At the end of the second annual meeting, Li Dongsheng returned to the TCL headquarters in Huizhou, and carefully calculated with his most trusted deputy, except for Jiang Ma and Chen Daqiao, his business volume and profit scale were the lowest.

He was a little anxious, if it weren't for Boss Xu's resolute disagreement, he even planned to enter the real estate industry.

It's no longer a question of making money, it's face.

"Hmph, believe it or not, I can give you the little swan with 100 million. Zhao Danyang snorted and snorted coldly.

"So ruthless?" Li Dongsheng broke out in a cold sweat, he had met and chatted with that Yan Xiaoqun a few times, and felt that the other party was quite trustworthy.

"Brother Sheng, let me tell you, there is no difference between our private placement and usury, I will first put a few little swan's negative news, let my friend sell some blood and smash it for half a month, and then force Yan Xiaoqun to mortgage the shares to me, and when he can't hold on, write off and take the shares. Zhao Danyang thought about it carefully, there is no need to be too frustrated, Huayin is not short of these tens of millions, "The price of 100 million is a bit exaggerated, about 180 million, and the little swan belongs to us." ”

"Brother Sheng, ha, don't be too happy, he is talking about the price code of the largest shareholder, if you really want absolute control, you have to come up with 300 million. We now analyze that the trough period of Little Swan is at least about a year, and if the RMB does not appreciate, Little Swan will have to fall all the way. "Zheng Hua haha, he is in the capital, the scale of private equity funds he operates in the north is small, mainly serving all kinds of coal bosses, the central bank is tightened, and his life is very comfortable.

Now speculating in A-shares is not profitable, the risk of shorting is high, private equity is mainly in high-interest loans, and for projects that are particularly easy to make profits, private equity can also hold shares for a few years for a long time.

"In this way, after Yan Xiaoqun mortgages the shares, everyone will absorb Little Swan batch by batch to reach the level of absolute shareholding. Big Boss Xu finally spoke, his voice was majestic and low, as a big boss, he was not as happy as the second general.

Huayin paid 7 billion euros to hold BMW, and the follow-up investment will not be less, and the total investment in the chemical field is expected to reach 60 billion yuan in the next five years, and the scale of investment in the financial industry is roughly the same.

The total investment in the panel industry is expected to reach 8 billion per year.

It's crazy, but it's all the Xu family's sense of responsibility and serving the country, because after all, there is Huawei in the communications field, and they can actually vote or not.

Mr. Xu is a little hard to think about it now, because Huayin has locked several major directions, except for coal, which is a huge profit, automobiles, chemicals, and panels are the three major gold holes, and they are very good if they don't lose money.

The reason is very simple, these are typical areas with strong foreign investment, especially in the chemical and automotive fields, the two major global chemical giants, Dow and BASF, have annual revenues of more than 40 billion US dollars, and the third to tenth places are also more than 20 billion US dollars.

All three barrels of oil have to call them daddy in this field.

BASF's one-year fixed industrial investment is almost the total amount of Huayin's five-year plan, and the biggest gap between the two sides is not capital, but technology patents, which is a world of difference.

Huayin's investment in these industries is not to make money at all, the Xu family is already very rich, not to mention a family of three, even a family of ten can't use it at all.

Many senior partners of the Huayin Department are also in a similar mood, money, everyone is not needed, to do a few real big things, one day, a certain moment, suddenly overthrow the trade structure between Northeast Asia.

In the field of chemical industry, in addition to benzene, olefins and acetylene in the basic disk, Yongtai Chemical Group has locked the mid-to-high-end chemical product chain and fine chemicals that China wants to import.

At the annual meeting, the tycoons were full of energy, passionately discussing, looking back and carefully calculating the accounts, the heart is estimated to be a little cold, the panel has a chance to be the first in the world, and the chemical industry is the real bottomless pit.

"Xiao Teng, I just read Tencent Group's second quarter annual report. "Boss Xu has something to say, except for him, Xu Ma and Mei Jiali, no one in this group dares to shout Xu Teng "Xiao Teng", "Is there any trouble in the communication business?"

"It's a big trouble, I'm also waiting for Yan Xiaoqun to collapse, and take down Sweet Communication Equipment Company and Youyou Football Team, Sweet's investment in the field of GSM and PHS is not bad, the technical team is more than 1,000 people, the proportion of experts is very high, the first few years are mainly to do basic part of the research, these two years began to focus on CDMA, more than 400 patents concentrated in these two regions, it is valuable to Tencent, within 300 million, I can take it down...... This is Yan Xiaoqun's core pillar, and he may not be willing to give it up. ”

Xu Teng is also pondering this problem, a little embarrassed, "But from the perspective of long-term competition, even if it wins Sweet, it will not make Tencent among the top four in the domestic market, and it is dangerous not to be in the top three...... In other words, it is dangerous not to be able to do the second, and you may not be able to keep up if you want to make efforts in the later stage. ”

"What are you going to do?" Mr. Xu actually wants to give up, he holds 1/3 of the shares in Huawei, very few people know, he was careless, he thought that the acquisition of Huawei was a matter of time, and he was soft for a while, and now the right to speak is in the hands of Huawei's internal executives, and the other party has finally ushered in a strong position in the past two years, and is preparing to continue to dilute Mr. Xu's shares through internal holdings.

"As long as you don't lose money, then stick to it slowly and make a long-term layout. Xu Teng said something that he didn't quite believe, but his main focus this year is still on Tencent's network business, expanding technology and market advantages, and next year when Warcraft is listed, he will deal with Tencent's communication business.

Huayin is only just successfully transformed, from the traditional health care, gaming and entertainment, high-tech investment, private equity securities transformation of five capital consortium, two years began to lay out the industry, in 2006 a large area of involvement in the stock market, in 2007 when the exit, will usher in the second peak of the Huayin system.

"Let's merge TCL's communications division with Tencent. Li Dongsheng paid a note,He followed the wave of Haier and Hisense last year and invested more than a billion in the layout of mobile phones and communication equipment,Now I actually regret it,I made two mobile phone products,I dare not tell others that I have been losing money。

"I'll buy you over. Xu Teng thought about it carefully and changed his mind, "Your communication division is sold to me, and the mobile phone business will be merged." ”

"You are the crown prince, I listen to you. Li Dongsheng will never settle small accounts with Xu Teng, his life creed, suffer small losses and make big gains.

"Lao Sheng is a smart man. The legendary "slot machine" Ding Fugen finally spoke, praising Li Dongsheng, he sits in the Pearl River Delta to do private equity, and Li Dongsheng is quite familiar with each other, has a lot of contacts with each other, and has borrowed money from each other several times.

Li Dongsheng's joining of the Huayin Department is also the result of the operation of Ding Fugen and Li Daxiao.

The characteristics of this "slot machine" Ding Fugen and "Yangtze crocodile" Zhao Danyang are similar, they like to kill big families, for example, Zhao Danyang set up an ambush to kill Yan Xiaoqun this time, it is really a long-planned plan, professional pit killing, and if you say that you will turn your face, you will turn your face.

But in the securities speculation market, Ding Fugen is accustomed to the operation of the plate, and kills all pages, while Zhao Danyang likes to ambush and suddenly bite in the long run.

"Flower Fox" Zheng Hua is a wild man, easy to speak, kind to others, well-informed, early and fast. "Quick knife hand" Zhang Yanling prefers to short opponents, last year's pit killed the Delong department, he started the fastest, the one he killed was called a poison, and that was called a Huan.

The two major tragedies of the collapse of Delong and Encyclopedia Pharmaceutical, Ding Fugen and Zhang Yanling's profits in the bear market are simply outrageous, and they don't know how many big and retail investors are killed, they are professional in short-selling and killing, and Zhao Danyang and Zheng Hua are responsible for borrowing money.

To tell the truth, Huayin has always prepared a very high level of security and multiple escape routes for the four of them, ready to run away at any time, and try not to break the law, but many domestic laws are too vague, and this is really difficult to say.

For a long time, Chen Daqiao was just a lecture in this super QQ group, and made a lot of class notes, Chairman Chen finally understood, he worked hard for a year to make movies, make TV series, lay out Shenzhou cinemas, and desperately squeeze the remaining profits on the game "Legend", in fact, it is not as high as the half-year profits of the four major traders.

Of course, Shenzhou Media Group still has to be steady, join the Huayin system, money is not the goal, the career, must have a real dominating career, in order to be qualified to be a real senior partner of the Huayin system.

Of course, the most critical one, Shenzhou Media Group is about to go public, and his net worth will skyrocket, so he can export capital and participate in the capital integration of Huayin.

Before that, he wasn't actually qualified to speak. (To be continued.) )