My 1999

Chapter 735 Hanhua 2004

Fortunately, although Hanhua did not invest in Google.

But the Indian Ocean No. 1 Fund made as much as them, or even more.

The Indian Ocean No. 1 Fund, which is managed by Sun Zhenping, is one of the earliest hedge funds established by Hanhua, not managed by Xu Liang.

In recent years, under the cover of Xu Liang's dazzling revenue return rate, Sun Zhenping has not been well-known in the international financial community.

But the Pacific No. 1 Fund, which he is responsible for, has amazing returns.

Thanks to the popularity of Internet companies and technology companies in recent years.

The Indian Ocean No. 1 Fund, which holds corporate bonds and convertible bonds worth $15 billion from large companies such as Amazon, Apple, eBay, Blackberry, and Yahoo.

It has achieved a return of 339% in two years.

That is to say, excluding 5 times leverage, based on the principal of $3 billion, it has obtained a return of $10.17 billion.

After deducting long-term capital gains tax, dividends to fund management, and dividends to investors, Hanhua has gained $3.46 billion.

But the Indian Ocean No. 1 Fund is not the fund that earns the most.

In 2004, the king of Hanhua's income was the Qinglong No. 2 private equity fund that Xu Liang was responsible for.

He used a principal of 3 billion US dollars to leverage 7.9 times, and held the equity of 19 global technology companies such as TSMC, Samsung Electronics, SIAM, Toshiba, AMD, ATI, Broadcom, Micron, Fanuc, Kyocera, Netflix, and Infineon with a total capital of 23.7 billion US dollars.

And compared with corporate bonds, of course, the room for stock price growth is greater.

Especially with the recovery of technology stocks and Internet stocks, these top companies don’t say a small goal every day, but it’s not much different.

In just two years.

After the stock prices of the 19 companies leveled off, they rose by 47%.

That is to say, they made a profit of 11.139 billion US dollars.

From the final profit, it is not much more than the Indian Ocean No. 1 Fund.

But the Qinglong Fund is managed by Xu Liang himself, and he does not need to take out 15% to distribute to fund managers and management.

He only needs to pay 15% long-term capital gains tax and a part of administrative expenses.

Of course, 50% of the investment share still needs to be paid.

Therefore, the net profit that fell into Hanhua's hands was as high as 4.456 billion US dollars.

Therefore, without calculating the profits of Hanhua's subsidiaries, the total net income in 2004 was 8.3776 billion US dollars.

"Fortunately, we are not a listed company, otherwise this net income would be enough to rank among the top 20 in the world if it was exposed." Xu Liang smiled.

"If you want, we can also go public."

Xu Liang waved his hand quickly.

"Forget it, it's better not to trouble yourself."

At least before his memory of the previous life is exhausted, Hanhua will not go public.

"By the way, did Lao Sun say how much money he plans to raise for the Indian Ocean No. 1 Fund?"

"Yes, 5 billion US dollars."

"3 billion to 5 billion, it's still stable."

"It's indeed much more stable than you." After a pause, "How about you, how much money did the Qinglong No. 2 Fund raise."

"15 billion US dollars, still holding the original investment portfolio." Xu Liang said.

The total value of the Qinglong No. 2 investment portfolio has reached 34.839 billion US dollars.

To raise $15 billion, you must use 2.3 times leverage to take over this part of the assets.

2.3 times leverage is already considered stable in the private equity market.

And Xu Liang also knows that until the subprime mortgage crisis in 2008, technology stocks and Internet stocks were all rising.

Even if there are occasional declines, it is impossible for all 19 technology stocks he invested in to fall.

Therefore, $15 billion is just right. More will drag down revenue, and less will increase leverage, which is a bit risky.

"15 billion US dollars?"

"Do you think it's too little?"

Jiang Xiaoyang nodded, "Last year, we raised 60 billion US dollars in private equity. Now the 8 funds we invested in are performing well. Many institutions want to get on board.

From 2004 to now, the total amount of investment applications I have received has exceeded 80 billion US dollars.

Your 15 billion US dollars is indeed a little less."

"You have to eat as much as you can from the pot.

Qinglong Private Equity Fund, I can only control 75 billion US dollars now. More will only reduce our revenue."

Xu Liang has invested all the stocks of companies that he knew in his previous life that would perform well in the future.

If he gets more funds, he doesn't know where to invest.

Of course, with more and more hot money in the market and the depreciation of the US dollar, the amount of funds of Qinglong Fund will definitely increase, but this is step by step with the development of the market, not all at once.

At this stage, 75 billion US dollars is the limit.

Jiang Xiaoyang nodded, "I understand. I will send you the list later. You can see which customers must be retained and expand their share."

It is said that harmony brings wealth.

The company will not refuse any institution that wants to invest in Hanhua.

However, those powerful and influential institutions will have a larger share, and those less important ones will have a smaller share.

"How much did Hanhua spend this year?"

Jiang Xiaoyang handed over a document.

"It's all on it."

Xu Liang took it and looked at it.

The Equity Asset Investment Department spent $43 million to acquire 30% of the equity of Capital Today, H&H Investment, Thiel Fund, and Qiandian Partners, as well as 20% of the equity of Sean Capital.

Invested $1 billion each in Sean Capital and Qiandian Partners.

Took over 18% of Supor's shares and 15% of Gree's shares from the venture capital department, spending $270 million.

Global Asset Investment Department, acquired the NBA Warriors, the Premier League Manchester United, Marvel and Monster Beverage.

Total expenditure of $1 billion, debt of $3.4 billion.

Huaxia Asset Investment Department.

No investment in Nanfu Battery.

Kelong Supermarket actually invested $800 million.

Reorganized into the original "Tuopai Qujiu" of Huaxia Wine Group, with an actual investment of $1 billion.

With sufficient financial support, Kelong Supermarket and Huaxia Wine Group are frantically expanding through mergers and acquisitions.

Basically, a new supermarket opens every week, and a brewery or liquor factory is merged every month.

Finally, there is the fixed asset investment department.

There are four major types of investment.

Precious metals, artworks, high-end wines, and jewelry raw materials.

Precious metals have the largest investment, with an investment of $1 billion.

Artworks have invested $300 million.

300 million US dollars for jade, Hetian jade, ruby, etc.

100 million US dollars for high-end wine.

All in all, including administrative expenses, in 2004, Hanhua spent 7.43 billion US dollars and increased its liabilities by 5.13 billion US dollars.

Among them, the liabilities directly under Hanhua were 3.4 billion US dollars, and the liabilities of its subsidiaries were 1.73 billion US dollars.

But with the net income of 8.3776 billion US dollars in 2004, Hanhua’s accumulated cash balance of 22.7 billion US dollars at the end of 2003 not only did not decrease.

Instead, it increased by 947.6 million US dollars.

"The expenditure is very high." Xu Liang put down the documents.

"Didn't you say that the Huaxia currency will appreciate when exchanged for the US dollar, so I am trying to convert US dollar assets into Huaxia currency assets as much as possible.

Unfortunately, it is too troublesome to approve domestic investment. I have thought of many ways, but I can only invest this money."

Xu Liang nodded.

At present, Huaxia does not directly issue treasury bonds abroad, so there is no way to buy them.

The offshore Huaxia currency market is still in its infancy. It will not be until after the subprime mortgage crisis, when the United States releases 2 trillion US dollars to harvest the global market, that everyone will instinctively start currency swaps.

As one of the world's largest trading countries, the scale of offshore Huaxia currency has expanded rapidly.

Of course, there is another way.

Enter the global exchange rate market.

This thing is the same as gambling.

Some people bet on appreciation, some bet on depreciation.

Once you buy, you will be responsible for your own profits and losses.

Hanhua Pacific No. 1 Hedge Fund has invested $10 billion in the exchange rate market.

But this is other people's money, and he doesn't have to pay it back if he loses.

Hanhua's own money is earned by hard work, and he will never use it for high-risk investments.

"Invest as much as possible in China, government bonds, SSE 50 constituent stocks, you can invest."

Jiang Xiaoyang nodded.

"This is the balance sheet of Jupiter Fund."

Jiang Xiaoyang handed over another form.

Jupiter Fund is all Hanhua's own assets.

It is divided into four major departments.

Equity Asset Investment Department.

It holds equity in 17 companies including Netflix, Ctrip, NetEase, Supor, Mengniu, Gree, Anta, Capital Today, and Thiel Fund.

Today Capital, Thiel Fund, Sean Capital, etc. are all investment companies. They are not listed and do not have much performance at present. It is difficult to value them. They can only be valued according to Hanhua’s previous investments.

The equity asset investment department has a total asset of US$6.46 billion, including US$2 billion invested in Sean Capital and Qiandian Partnership.

Fixed asset investment department.

Currently, US$3 billion has been invested in rare metals such as rare earths and refined lithium, with an actual investment of US$1.8 billion and US$1.2 billion in liabilities.

Currently, this asset has appreciated by 83%.

US$1 billion has been invested in jade, Hetian jade, rubies and sapphires, with a debt of 50%.

Currently, it has appreciated by 64%.

US$1.5 billion has been invested in art and US$500 million in high-end wine.

These two investments have a debt of 40%.

Art and high-end wine, the former has appreciated by 2.2 times, and now is the period of rapid development of Chinese art.

The prices of fine art have hit new highs.

This year, the six major companies, China Guardian, Hanhai, Sino-Trade Shengjia, Huachen, Jinghua, and Duoyunxuan, sold a total of 23,424 cultural relics and artworks in the spring and autumn auctions, with a turnover of 3.09 billion yuan, more than three times the 960 million yuan last year.

It can be seen that it is very popular.

High-end wine is the worst, with investment increasing by less than 47% in two years.

In this way, the fixed asset investment department has total assets of 11.165 billion US dollars and liabilities of 2.6 billion US dollars.

The global asset investment department is mainly composed of four companies: the Warriors, Manchester United, Marvel, and Monster Beverage.

Total assets are 5.9 billion US dollars and liabilities are 4.9 billion US dollars.

Among them, the liabilities of the head office are 3.4 billion US dollars, and the remaining 1.5 billion US dollars are the liabilities of the four companies, especially Marvel, which has more than half of its liabilities.

Huaxia Asset Investment Department.

Nanfu Battery has the best development. Although it has not been listed, its dry battery business has not only dominated 80% of the domestic market in recent years, but also has set new highs in the international market share with good quality and price.

At the end of 2004, sales exceeded 3.5 billion Chinese Yuan, and net profit was 540 million Chinese Yuan.

Valuation exceeded 700 million US dollars.

Kelong Supermarket is the largest.

Currently, it has 346 hypermarkets, 552 supermarkets, and over 6,000 brand-authorized convenience stores.

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