Chapter 389 Buy it

"I heard that Mr. Wang likes Dao Lang's "Love Song of the West Sea". Coincidentally, I like the song "My Loulan" sung by his apprentice Yun Duo."

Xie Jing Xing straightened his back and raised his chin slightly: "The whole song is majestic and magnificent. Many singers' covers cannot match the charm of the original song, so some people say that there will be no Loulan after Yun Duo."

"Evergrande is quite similar to the real estate industry. There will be no more properties after Mr. Xu. I'm afraid that the owners of Evergrande will have to sing "My Loulan" loudly." He looked straight at the auction table and spoke in a frivolous tone.

What a mess of homophonic jokes! Lao Wang forced himself to suppress the feeling of being terrified. The young man next to him, who was stiffening his neck, was simply talking nonsense.

As big players in the real estate industry, who doesn’t know how much shit each other has and what tricks each other has played?
However, not long ago, an authoritative American commercial credit rating agency announced that Evergrande’s debt ratio was too high and would not improve in the next year, and its credit rating would be downgraded.

Immediately, some domestic credit rating agencies sang a different tune and supported Evergrande, waving the flag and shouting with the support of the public, "We ourselves have the final say in the credit rating of our companies!"

With such a big trend ahead of us, no matter what the operating status of Evergrande is, Xie Jingxing's attitude is a heretical and excessive act.

Just because of a few words that were not a conflict, you are so reckless and want to offend people to death?
Old Wang's mind was in a state of panic. If it was his own son, he would definitely be a brainless person seeking his own death, but the boy next to him was called Xie Jingxing.

Then the greater probability is that it is just bluffing, or Evergrande has really reached the edge of the cliff and may be doomed at any time.

"Xiao Xie, Boss Xu has been doing business for so many years, and he is still friends with your father." Old Wang relied on his age and seniority, and his calm and steady manner seemed to be persuading, but in fact it was testing.

"We are only talking about business, not individuals. Evergrande's problems are representative of the real estate industry."

Xie Jingxing lowered his head slightly and clenched his fist to block his nose: "Over the years, all real estate companies have wanted to develop rapidly and have more or less borrowed financial leverage. The methods are varied, but the essence remains the same: betting that the market will continue to rise."

"Once the market falls and leverage becomes ineffective, companies will find it difficult to repay their excessively high debts... Mr. Wang, can Wanda remain unscathed?" he asked in a frank and soft voice.

Maybe it's a combination of bluffing and Evergrande's danger, and it's certain that this kid is really sharp and lives up to the reputation of being strong as rumored.

Lao Wang did not hide his dissatisfaction. He frowned and sighed: "Oh, what are you talking about? If the market is bad, who can be immune to it without leverage? You can't hit me in the throat with every word. I can't talk to you."

"Mr. Wang, you misunderstood. What I meant is that next year is Wanda's last chance to return to China and go public."

Xie Jing Xing slowly got to the point: "This is my judgment from the perspective of the capital market. The window period for a company to go public is only one or two years, and it's fleeting."

"I am optimistic about Wanda's future, but the retreat of overseas capital, the slowdown in economic growth, and all sorts of other minor changes in the macro situation have a heavy impact on individual companies, resulting in the closure of the window of development opportunities."

Lao Wang was speechless for a moment and fell into deep thought.

Xie Jingxing's words need to be listened to in context. Wanda's leverage is not as outrageous as Evergrande's, and its risk exposure remains within a healthy operating range.

Moreover, it is the unrivalled leader in commercial real estate in China and can provide support even if the overall real estate market declines.

The key lies in the so-called retreat of overseas capital and the slowdown in macroeconomic growth. These uncontrollable natural and man-made disasters mean that even if Wanda itself does not have any problems, the domestic capital market will close down and will no longer play with real estate companies!

"The plan to return to the A-share market next year has been made public. Recently, many securities firms have come to me for discussions and have mentioned the issue you mentioned."

Lao Wang had a calm expression, allowing Xie Jingxing to pull the conversation into the capital field that he was good at.

Since you think that Wanda may not be able to return to China for listing next year, then you come and convince me, otherwise I will just think you are playing tricks and bargaining.

The two sides unknowingly entered into a negotiation rhythm. Why must Wanda delist from the Hong Kong stock market while returning to the A-share market?
After delisting from the Hong Kong stock market, why must the company use Grapefruit Capital’s money to complete privatization, and how much does Grapefruit Capital want to earn from this transaction?
If Xie Jingxing can't explain it clearly, he should go back to where he came from as soon as possible. At most, I will do him a favor and give him a sip of the soup from Wanda's return to A-share listing and financing.

"I watched your recent speech at Harvard University, the part about Wanda's globalization strategy." He let out a faint breath as if telling a ghost story.

Old Wang didn't understand what was going on, and seeing that the young man didn't want to continue talking, he had to try his best to recall.

Oh, when Harvard students asked him what he thought of Wanda's global shopping spree, he said, "We don't steal, rob, or print our own money. We can invest our hard-earned money wherever we want."

What did he think of this sentence? Old Wang immediately became furious.

He doesn't need others to teach him what not to do now, but what others can do for him!
In fact, at this moment, Wanda has initially established connections with many state-owned enterprise giants including Poly, China Railway, and Ping An.

The state-owned enterprise giants formed a consortium, and the transaction model was not lending, but the consortium directly acquired all of Wanda’s outstanding shares in Hong Kong stocks, which was a disguised form of investing in Wanda.

If Wanda's return to the A-share market fails and its equity is converted into loans, the consortium can only earn some interest; if it successfully returns to the A-share market and is listed, the consortium will earn the difference between the low valuation of Hong Kong stocks and the high valuation of A-shares.

So to some extent, it is equivalent to binding the consortium and they have to help Wanda return to the A-share market in order to make more money.

Lao Wang listened to Qu Dejun's advice and came here today to talk for so long with a boy who is younger than his own son. It's not just for the money. It's valuable only if it can help Wanda go public.

Everything else is false.

"I always hear you talk about the internationalization of the financial industry in different public occasions. Our real estate industry also needs to go overseas and look to the world. We are the same."

Lao Wang was greatly disappointed and started to be perfunctory. The young man was still too impetuous.

It is true that he is rich and has a good background, but he is not willing to spend anything that is practical. He wants to have a share of the spoils just by talking big. How can such a good thing happen?

Xie Jingxing had no choice but to try his best to argue: "Boss Wang, there is a difference between the globalization we are talking about..."

"Let's not talk about that for now. I like this piece of porcelain."

Lao Wang simply interrupted him, turned his head to look at the auction table, raised the number sign and called out the bid.

The smile on Xie Jingxing's lips froze. He thought Lao Wang was an idiot, and Lao Wang also thought he was an idiot.

Jia Yueting, Xu Jiayin, the Lao Wang around them, and even the former Little Brother Ma and the future Teacher Ma, each of them became obsessed with everything when they were at the peak of their careers.

Ignoring the dangers that are everywhere, they only feel the pain when they are attacked by weapons, and this is true for everyone without exception.

Xie Jingxing was mentally prepared before meeting today, but he still didn't expect that Lao Wang would be so difficult to communicate with.

With the integration of Kujiji Studio and Pony.com completed, the upstream content manufacturing business of the pan-entertainment layout has taken shape, so the demand for downstream cinema chains is lower than expected.

As of now, online ticket sales account for 70% of the movie ticket market, and 10 out of 7 tickets sold by each cinema are sold through online ticketing websites.

Weying Times and Maoyan occupy 70% of the online ticketing market, with the upstream content manufacturing business taking shape on one side and the downstream sales terminals being monopolized on the other.

Nowadays, without actually controlling the theater chains, one can influence the theater chains’ film production, promotion and distribution, and other businesses, and indirectly have a high degree of control.

Therefore, the strategic value of physical cinema chains has been infinitely compressed. It is more of an inertia to expand the scale of business after the pan-entertainment layout has naturally expanded to a certain extent.

Based on this, Xie Jingxing decided to change his strategy and not rush to take Wanda Cinema, whose market value exceeded 100 billion and whose bubble was too large, as a direct target.

First, invest in Wanda Commercial Management, and then exchange the equity for Wanda Cinema shares in the future.

Obviously, it would be best if Wanda Commercial Management could successfully return to China and go public. Both he and Lao Wang could earn more, and everyone would be happy.

If the IPO fails and Wanda's capital chain becomes tight and unsustainable, Lao Wang will inevitably suffer losses by exchanging Wanda Cinema's equity for unilateral profit.

As a result, the negotiation collapsed just as the key issue that determines whether Wanda can go public was mentioned. "This porcelain is said to be from the early Ming Dynasty, which is the highest standard that can be auctioned in China. In fact, it must be more than the early Ming Dynasty, and it should be from the Yuan Dynasty."

Lao Wang spent more than 60 million to buy the porcelain. He calmed down and tried to ease the situation by saying, "Xiao Xie, do you want to buy something? I'll help you with some advice. It's boring to just sit there."

“I think this one is good.”

Xie Jingxing was almost laughing out of anger. He believed that every investment he made since his debut was made with a win-win attitude at the beginning, no matter what the outcome would be.

But Lao Wang does not appreciate good intentions. Not only has Wanda been spending lavishly overseas, but he also talks about being respectful to others and himself.

He looks like a rebellious person with a dead face. Who can help him to be decent if he himself is not decent?
Facts have proven that at least those state-owned enterprise consortiums are not capable of this. In this situation, how thick-skinned must Xie Jingxing be to have the nerve to intervene and help speak favorably.

He invested in Wanda to make money, not to show his fatherly love!

"Whose seal is this?"

Xie Jingxing was extremely depressed. The item on the stage happened to be the Qianlong jade seal that he had seen during the preview in the morning, so he immediately raised his placard to bid.

"Is there any meaning behind this jade seal?"

Lao Wang was stunned for a moment, then he remembered something and reminded him thoughtfully: "Hey, Xiao Xie, it seems to be Sun Hongbin's stuff."

"Sun Hongbin didn't come today?" Xie Jingxing raised his eyebrows in confusion.

"Okay, let's speed up and adjust the bidding ladder. The bid price is one million."

As the two were talking, the auctioneer on the stage gestured, "The latest bid is from Mr. 'No. 5568', 1100 million."

"This thing is very competitive and not easy to shoot."

Seeing Xie Jingxing raising his placard again and bidding 1200 million, Lao Wang hinted tactfully for Lao Xie's sake.

The impression of this kid in his mind has changed from a young boy to a foolish young man, who rushes around recklessly without any sense of reason. He really can't see how he is better than his own son.

Is it because I, as a father, am not as good as Lao Xie? Why is it that Xiao Xie’s dating with celebrities does not hinder him from marrying a good wife, but Xiao Wang’s reputation is ruined after dating a few internet celebrities, and it is difficult for him to marry a wife of equal status?

It’s unfair, so unfair, Lao Wang was filled with sadness.

"It's normal for good things to be highly competitive, so let's shout out a few first."

Xie Jingxing groaned and raised the sign again with a scoundrel look on his face. He didn't really want to snatch the jade seal, he just wanted to change the subject to avoid embarrassment.

Let’s not talk about it anymore. It’s hard to persuade a damned ghost with kind words. Wanda should just die according to the original timeline. Then he can eat the meat he picked up later.

It is difficult to persuade a damned ghost with kind words. Lao Wang thought the same thing. He crossed his arms and watched coldly, letting him do whatever he wanted.

Today's small-scale, non-public "private" auction will include some "private goods" among the items to be used to join a small social circle.

The buyer and the seller know each other clearly, and other people present should also know who they are. If the buyer can successfully bid for the "private goods", it means that he has obtained the approval of all members of the small circle.

On the other hand, if you fail to bid, there is nothing to say, because some friends in your small circle will not approve of the buyer.

It is wise to give up when the price of a "private item" exceeds the estimated price. You will have another chance when you are qualified in the future. If you are not tactful and ask who finally bought it, you will not only not be able to enter the circle but also be ostracized.

This practice has been used from the Republic of China to the present day, except that a hundred years ago it was private antique shops, and now it has evolved into top auction houses acting as brokers.

Domestic local bosses perform the tacitly understood and elegant work in a very professional manner, which is due to the thousand-year-old heritage of the great Chinese civilization.

Xie Jingxing looked at the preview album in the morning. The red circle marked by the jade seal represented "private goods", so he briefly explained the subtleties to Chen Xi in a disappointed manner.

"3000 million. Now the auction price of the Qing Dynasty Qianlong Seal has reached 3000 million. We have changed the bidding ladder again. The bidding rules are 2/5/8. Is there anyone who wants to bid?"

The auctioneer on the stage waved his hands passionately: "Okay, it's still Mr. '5568', 3200 million, 3200 million!"

"3500."

Xie Jingxing had nothing to do so he raised his sign to signal to stir up trouble. The bidding steps were 2/5/8, and raising the sign once meant raising the price by that level.

I wanted to look back and see who 'No. 5568' was, but it was boring.

As expected, the seal was valued at 6800 million to 8800 million, far from being worth the asking price. Before No. 5568 could raise his bid, a new bidder joined the auction, bidding 3800 million.

What a pity, he really liked this jade seal.

"6000 million, once again, is there anyone else who wants to bid?" The auctioneer didn't know the details and just raised the price.

As the auction was about to enter the valuation range, several contestants gave up one after another. Xie Jingxing felt sad that all his good luck tonight had gone to Li Renyu. He put down his number plate and rubbed his face in dismay.

"No problem, 6200 million. I saw it. 'No. 8011'!" The auctioneer was more sensitive than a police dog and would not miss any movement.

Xie Jingxing was blinking his eyes in confusion, and Lao Wang, who was sitting next to him, was trying hard to endure it. The corners of his mouth twitched as he looked at his left hand rubbing his cheek. He raised his little hand and it looked like 200 million. It was so funny.

"Mr. Xie, you'd like to continue bidding, right?" the auctioneer confirmed with a righteous look on his face.

Xie Jing Xing smacked his lips. Before he could say anything, someone in the back seat raised his voice and shouted, “7000 million!”

"Sorry, we have a priority order. Confirm the 6200 million first, and I will accept your offer of 7000 million." The auctioneer was trying to control the situation and add fuel to the fire.

Destroying the bidding ladder and shouting out the price, Xie Jingxing smiled and looked back, he couldn't help but pull the corners of his mouth to reveal his full mouth of white teeth, suddenly stood up and strode towards the door of the auction hall.

"No. 8011, Mr. Xie, you've given up, right? Then let's go back to No. 5568, Mr. Jia. Now for 7000 million, the Qing Dynasty Qianlong Seal is yours."

The auctioneer hesitated for more than ten seconds: "Is there anyone else bidding? I'm going to drop the hammer. 7000 million, 7000 million, 7000 million, sold... 7200 million, from afar!"

"'No. 8011', 7200 million."

Many of the bigwigs present had no composure at all. They looked in the direction of the auctioneer's finger towards the door of the auction hall, only to see Xie Jingxing's departing back.

A tall young girl with delicate looks and a sad temperament stood in front of the door facing the auction table, holding the number plate steadily in her slender hands.

“Buy it.”

"Okay, how much is the offer?"

“Buy it.”

Facing countless inquiring gazes, Chen Xi repeated the conversation he had with Xie Jingxing in his mind. He took a deep breath to suppress his slightly trembling shoulders, and held the license plate high in his arms.

(End of this chapter)