Chapter 96 – Hong Kong Businessman (Part 1)
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After Fu Guangzheng left Tai Hua Trading, he went straight to a Post Office to make a phone call back home. He felt that he needs to discuss with his father. Although his father does not really like him, if it was regarding business, his father will still give him some pointers.
After hearing the circumstances from Fu Guangzheng, Fu Rongjing felt heartened. He might treat his elder son better, but Fu Guangzheng was also his son. How can he not care for him?
Fu Guangzheng had not walked the path Fu Rongjing planned for him. He had taught him about investing, but he was not interested. Instead, he just likes to meddle with antiques and had wasted lots of money.
Luckily Fu Guangzheng had learned his lessons and at least was able to not make any losses now. However, Fu Rongjing still felt that antique business was too risky. But two months ago, Fu Guangzheng started a British used luxury car business, and the profits were not low also.
This business attracted the attention of Fu Rongjing. If his son could know some capable people in China, it will be useful for the whole Fu family.
Fu Rongjing had never heard of Bing City’s Machinery Corporation Ltd before. But if it was as what his son had said, the factory was using Soviet Union’s advanced machinery and technologies, and there were also experts from the Soviet Union there, then it will be worth investing.
But the thing that made Fu Rongjing happy was that Fu Guangzheng got to know Feng Yu. A teenager, who was still attending high school, was able to do Sino-Soviet trades and able to get his hands on the most advanced technologies and machinery, which even the Chinese Government were unable to gain access to. There must be someone powerful behind him.
Fu Rongjing felt that building a good relationship with Feng Yu was worth more than letting his son making some profits now. He was glad that his son could have such capable friend. He decided to give his son the money for the investment. It’s only 3 million Rubles!
When he heard that his father was giving him the money for the investment and he does not need to raise funds from his friends, Fu Guangzheng was overjoyed. This way, not only he was able to have a good relationship with Feng Yu and stable investment, the most important thing was that he still has his own money left. He can even do his antique business!
Li Mingde was having headaches for the past few days. The machines Feng Yu sold to the factory were excellent and much more advanced than their existing machines. They also researched the technologies information, and these technologies were indeed at least 10 years ahead of China. The experts from the Soviet Union had helped them set up and calibrated the machines, and also helped them to modify their old machines.
But it was also this restructuring process let him become a scapegoat!
Initially, he had told the City Government leaders to increase the value of the fixed assets and then inject a large sum of capital to reduce Feng Xingtai’s shares proportion. After the restructuring, the money will be returned to the City Government. After all, even when the factory was converted into a private company, he was still the General Manager. It would be easy for him to transfer these funds out.
But he never expects Feng Yu to bring in a finance officer, and even added a clause in the contract, stating that any financial matters involving large amount would need Feng Xingtai or Feng Xingtai authorized representative approval. If he can only transfer a few thousand RMB at one time, how long will it take for him to withdraw the capital injected by the government? Furthermore, anyone looking at the accounts could easily spot this discrepancy. He will be in big trouble then.
Now, the City Government was chasing him to return the funds, and Li Mingde went to Zhang Ruiqiang for help. But Zhang Ruiqiang asked him to think of a solution himself. In the first place, Zhang Ruiqiang was the one who had hinted this idea to him!
Zhang Ruiqiang, himself also did not expect Feng Yu to be so sharp and had already preempted the tricks they might be using. Now, he was also in trouble. He had promised the Mayor that the funds injected into the factory will be returned to the City. He thought that the funds could be withdrawn after a month, during the year-end dividends. But now, the City Government needed this money urgently and can’t afford to wait for 2 weeks, let alone 1 month!
“Zhang Ruiqiang was still thinking when he saw Li Mingde entering his office again.
“Old Li, is there anything else?” Zhang Ruiqiang was unhappy. He was helping him to think of a solution, and there was no used for Li Mingde to keep visiting his office. There were many other things to handle besides the Machinery Factory.
“Mayor Zhang, I had just received news that there is a Hong Kong businessman wanted to invest in our factory. Do you think we should sell some of our shares to him? This way, we will be able to return the 20 million RMB to the City Government.”
“Hong Kong businessman? Does he have the financial strength? How much can he invest?” Zhang Ruiqiang was ecstatic. Now, China wanted to attract investment from Hong Kong first and then followed by other foreign funds. Bing City still does not have any investments from Hong Kong yet, and this will be the precedent for them.
Li Mingde replied embarrassedly: “Ermm… I have yet to find out. That businessman will only be visiting the Machinery Factory in the afternoon. I will find out after his tour of the factory.”
“Fine. Then what are you waiting for? Go back to the factory to make arrangements now! You must get him to invest!”
Li Mingde left Zhang Ruiqiang’s office, and Zhang Ruiqiang immediately went to the mayor’s office to report this matter. This was good news and but if he were to make all the decisions himself and claimed all the credit, then it will be a wrong move!
“Mr. Feng, you are not coming with me? Didn’t you have a stake in this company too?” Fu Guangzheng was feeling puzzled.
Feng Yu smiled mysteriously and said: “I will not be going with you and it’s better that you don’t mention me at all. Most importantly, don’t tell them that I was the one who asked you to invest in this factory. If not, you will not be able to invest.”
Feng Yu pointed to his own head and said: “Because of the different thinking and views. They were cautious and wary of me. If this is Hong Kong, I will still be working with them? I will be thinking of ways to take over them as I am the one who provided them the machines and technologies. However, this is China, and I must work with them for the time being. If not, there will be lots of trouble later.”
Fu Guangzheng frowned and said: “Even if we add both of our shares together, it will still be less than 50%. They will still have the final say ……”
“Don’t worry. This is only temporary, and it will not affect our profits. China’s policies will be liberalized further in a few years’ time, and that’s when we can flex our muscles. If you are regretting, you can still give up this opportunity.” Feng Yu said smilingly.
Fu Guangzheng remembered what his father told him and he looked at Feng Yu: “No, since you said that this factory is worth investing, I will trust you. Actually, this afternoon visit to the factory is just a formality. I will surely invest my money in this factory!”
No matter what happens, Fu Guangzheng will not suffer any losses. The funds were provided by his father but under his name. Even if it were a failed investment, he would still have close to 20 million RMB worth of assets more. Worse come to worst, he can just sell off his shares. With this money, he will be one of the top antique dealers!
Feng Yu nodded. Since Fu Guangzheng trusted him so much, he might include him to earn money together in future.
“I can promise you that you will not regret making this investment!”
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