Chapter 342 Bull Market Ending
As a long-time friend of Xie Jingxing, Yan Wenhua got to know for the first time the demeanor of the so-called Young Marshal from the venture capital industry. He had an inexplicable feeling: it's ok for good brother to brag, but how come you suddenly become so handsome!

Li Bin feels completely different. Today, the domestic Internet industry is rich, and the capital institutions investing in the Internet industry are even richer.

However, there are only a few top venture capital firms that are willing to invest in traditional industries and have strong financial resources and can compete with their European and American counterparts in what they call deep pockets.

Xie Jingxing has emerged as a dark horse with a chip industry fund in his left hand and new energy vehicle manufacturing in his right hand, investing hundreds of billions of yuan in advanced manufacturing.

With such a person, it is no surprise that more and more people from top to bottom in the venture capital circle tacitly recognize him as the industry's flag bearer. Li Bin's heart is full of admiration and emotion.

Only Hu Weiwei remained calm as usual. He did not have any aura of a young commander or a flag bearer. It was just because he was Xie Jingxing and he should do these things as a matter of course.

Cui A Liu also thinks so. Emotional logic does not need to be balanced and only has two extremes: either there is no reason to dislike it or to worship it unconditionally.

As for Xie Jingxing himself, it was just a matter of bad taste to compare himself with schoolmate Xiao Zhang. The essence of his lavish spending once again lies in the unclear equity structure of NIO.

In the smart car layout with Didi as the core engine, NIO is a chess piece in the vehicle manufacturing segment of the industrial chain. It can be indirectly connected through the three-layer architecture of Xiexi Capital, Didi and NIO composed of Taihe Xiyou.

There is no need to argue directly with Li Bin about the share of equity. Besides, there are many sub-sectors in the smart car industry and many profitable companies. It is unrealistic for Taihe Xiyou to maximize profits by investing entirely on its own.

The way Xinhai Fund leverages indirect funds is the ideal way to build a capital empire.

Secondly, NIO is financed in US dollars, and Li Bin calculated that it would be easier to find wealthy US dollar funds for financing later.

The decision is very wise considering the current good situation of US dollar funds in the market. Domestic capital is really unwilling to invest heavily in the real industry with a long return cycle. However, the person who will make America great again will appear next year.

By then, with all kinds of iron fists being wielded, including the return of manufacturing, it will be impossible for NIO to raise a penny in Europe and the United States, and US dollar financing will torture Li Bin to the point of drooling.

The difference between RMB and USD financing is not as simple as the color of the banknotes. The two currencies are subject to different financing laws, which largely involves the listing location in China or abroad, and the specific financing methods such as additional issuance and VIE agreement framework...

Such troubles are very costly, so Xie Jingxing has to plan ahead and try to raise the valuation of NIO first. Maybe it will be more attractive when Li Bin cannot find US dollar financing and turns back to China to seek capital for help.

He could only keep these things in his heart and do them silently, not telling others about them.

In Hu Weiwei's small courtyard, while watching Li Bin and Yan Wenhua eating shabu-shabu and chatting cheerfully, their eyes frequently glanced at him with inexplicable inquiry, Xie Jingxing just smiled.

The gourd vine that climbed up the wooden frame in the corner of the yard was blooming light yellow flowers. It would be nice to pick two gourds for his daughter and son as toys in the fall. His thoughts unconsciously diverged and drifted away.

…………

On June 6, the relevant regulatory authorities issued the "Notice on Strengthening the Management of External Access to Securities Companies' Information Systems". At the press conference, the spokesperson once again emphasized that securities companies are not allowed to conduct over-the-counter financing activities for any institution or individual through online securities trading interfaces.

This is the Hang Seng system that provides electronic stock trading for institutional investors. Since rumors of a ban on its off-exchange margin trading business emerged at the end of last month, the regulatory authorities have responded positively.

Last year at the same time, the total amount of capital allocated in the stock market was around 4000 billion yuan, and now it is 2.7 trillion yuan. The total amount of capital allocated off-market cannot be counted, but it will definitely not be less than one trillion yuan.

Leveraged funds totaling more than 4 trillion yuan created a crazy bull market.

That day was Friday, and the trading volume of the Shanghai Stock Exchange main board exceeded one trillion yuan, closing at 5178 points, the highest point since the bull market eight years ago.

Professionals began to worry and felt that the stock market should cool down a little; the media and the public were excited to raise money, and if they didn't get on board next Monday, they would lose a lot of money.

The regulatory authorities slowly breathed a sigh of relief, as they released the negative news on Friday. The weekend break should allow the market to digest a lot of the negative news and minimize the impact on the market.

From the streets to the government offices, there are ten thousand ideas in ten thousand heads.

In the past, Xie Jingxing would be very happy to witness the historical moment of all living things with his half-prophet head. The King of Bi, who was good at showing off in front of others, liked this.

Not today, his son is one month old.

"Think about it and let daddy put it on you. It will look so pretty." Xie Jingxing said in a disgusting voice, holding a safe jade pendant, not knowing where to start.

The little brat became shy after not seeing him for a few days. He lay in his mother's arms, waving his chubby little arms and crying.

Zhou Fenglan said distressedly: "It's good that you get the point. My son's skin is so tender that he's not used to it."

"Oh, you have no conscience."

Xie Jingxing was annoyed. He had specially asked Song Anli to go to Qingcheng Mountain to get this peace and safety amulet. Both his son and daughter had one, and his daughter was used to wearing it. Although the jade amulet was slightly larger than the baby's body, in the videos Yu Tong sent every night, the jade amulet worn by his daughter kept shaking...

"Stop talking about my son. You were like this when you were a child." Zhou Fenglan suddenly glared.

Xie Jing Xing retorted dissatisfiedly: "You haven't seen me when I was a child, so don't slander me."

"You were like this when you were a teenager, even worse than my son." Zhou Fenglan raised his chin.

She had really seen this before. Xie Jing Xing was speechless and pretended to be dead and miserable, and continued to happily entertain his son.

Until the little brat kicked his legs, drooled, smiled foolishly and peed all over his hands. The warmth between father and son ended instantly, and the grandmother rushed out in time to take her grandson away.

"Hurry up and take a shower."

The two close relatives left in a leisurely manner, and the bedroom returned to silence in an instant. Zhou Fenglan reminded them lightly.

Xie Jingxing stood there with his feet as if they were stuck together with glue: "The doctor said that you have recovered very well, and it looks like you are no different from before you got pregnant."

"Oh, you smell so bad. Go take a shower." Zhou Fenglan pushed him into the bathroom impatiently.

Xie Jing Xing sighed, took off his clothes in a few seconds, turned on the shower to wet his body, and smeared shower gel and shampoo on it.

"Click."

The bathroom door opened, and Zhou Fenglan's unique cold voice came: "It's still different from before, the cup is raised."

Xie Jingxing turned around, his eyebrows stained with shampoo foam, one eye closed and one eye open, staring blankly and unable to speak.

"Come to my room now!"

After a long time, Zhou Fenglan spoke in a low voice on the phone. At first it sounded like he was very angry, but upon closer listening, it turned out to be an urgent request for help.

When Yuan Jin quickly walked into the bedroom to confirm her guess, she sneered secretly, "Ha, what a weakling."

"Don't play around, you have to go back to the Magic City tomorrow."

Zhou Fenglan used a tissue to wipe the sweat off Xie Jingxing's forehead. He responded muffledly, and after a moment he let out a long breath.

"Are you busy lately?" Zhou Fenglan asked with a sidelong glance.

Xie Jing Xing held her and lay down: "It's okay, they are just some messy things. If there is no progress in the short term, I can't just ignore it."

"It's not a one-time thing, we should look at the long-term situation." Zhou Fenglan tightened his arms.

The two of them chatted casually. Yuan Jin, who was slumped on the carpet and lying at the foot of the bed, recovered and came out of her trance. She wanted to go out but was reluctant to linger on the warmth she had longed for.

She quietly climbed onto the bed and lay down on the corner, pulling a thin blanket over her belly with half covering it and the other half under her body. She didn't need to ask, she only needed to feel it to know that Xie Jingxing was really busy recently.

"Have you booked your flight?"

"Let's talk about it in a few days. There's no rush."

"It's inconvenient to travel without a business jet at home, so I ordered one and then found an airline in London to manage it."

Yuan Jin was looking at the ceiling when she suddenly felt like she was kicked. Looking at Zhou Fenglan who had a calm expression, she felt mixed emotions and wanted to cry but was also a little secretly happy.

She lay down beside Xie Jingxing obediently and wanted to rub against his arms, but when she saw the slender arm on his chest, she gave up and kept her mouth shut.

"Take good care of yourselves. I will visit you when I have time. I will be back sooner or later."

Xie Jingxing opened his arms and embraced the one on the left and the one on the right.

(End of this chapter)