LIGHTNOVELONLINE Chapter 30
Longhu Blue Lake County.
Located in the north of the city center of Chongqing, it is a newly developed area.
The community is a high-end villa complex built by Longhu Group, a local real estate developer in Chongqing. It is also one of the most luxurious homes in Chongqing.
“”Dad, Mom, I’m back.”
After getting off the car, Su Chengyang knocked on the door and shouted into the house.
Then, he heard footsteps coming from far away, and the next second the door opened.
A well-dressed middle-aged woman was revealed. It was Su Chengyang’s mother Liang Wenjie.
“You bastard, you still remember to come back. I thought you would not come back until the Chinese New Year.”
When she saw her son, Liang Wenjie’s eyes flashed with surprise, and then she frowned and started to scold him.
Su Chengyang chuckled:”I have something to do in Yanjing. Okay, Mom, don’t be angry, I’m back, right?”
Putting his hand on Liang Wenjie’s shoulder, Su Chengyang pushed her into the house with a smile.
Liang Wenjie was not really angry, she was just a little unhappy.
However, this bit of unhappiness disappeared instantly when Su Chengyang returned home.
“I heard from your aunt that you bought a house and a car in Yanjing?”
“Um~~”
Su Chengyang nodded and explained,”I am engaged in the investment industry, which is related to the Internet and gaming industries. Yanjing is the political center of China and also the highland of the Internet and gaming industries. I may need to stay in Yanjing more often in the future. It is not good to always stay at my grandparents’ house. It is troublesome to go to a hotel, so I bought a house.”
“This way, you and dad will have a place to stay when you arrive in Yanjing.”
Hearing that Su Chengyang wanted to stay in Yanjing to develop, Liang Wenjie frowned and said,”Why go so far? Can’t you stay in Yucheng to develop?”
“Mom, do you think I want to go to Yanjing to develop?”
Su Chengyang showed a bitter smile:”The climate there is dry and the air quality is poor. It is not like Yucheng with mountains and water and humid air. But Yucheng does not have the Internet gene. What is there to invest in to develop here?”
“Moreover, Yanjing is the capital of China, and the first place to get news about various policies is Yanjing, so if you want to develop, you must be in Yanjing.”
Liang Wenjie didn’t understand the Internet, and when she saw her son say this, she didn’t say anything more. After all, her son’s development was the most important thing.
“”Mom, where’s Dad? Why can’t I see him?”
Su Chengyang looked around and didn’t see Old Su, so he asked.
“Went to the company, said there was a meeting, probably will be back around noon”
“oh~~”
Su Chengyang nodded.
Then the mother and son started chatting.
He briefly talked about his life in the United States and in Yanjing. Some things could not be said, such as riding a big foreign horse in the United States. If he said it, he would definitely be scolded.
At lunch time, Old Su really came back.
“dad!”
“came back?”
“Um~~”
“When did you arrive?”
“Around 10:30”
“Well, I heard from your aunt that you bought a house in Yanjing?”
“Yes.”
Just as Su Chengyang was about to explain why he bought a house in Yanjing, Old Su did not follow the routine and just nodded, curious about how big the area was, where it was located, and how much money he spent on it.
“It’s a villa near the East Fourth Ring Road, in the Dongshan Villa complex. The environment is pretty good. As for the price, it’s OK. The seller wants 32.5 million, and I’m offering 30 million.”
Su Chengyang said in a light tone.
“What?”
“What did you just say?”
“You said it cost 30 million?”
Old Su, who was originally calm and composed, stood up from the sofa with his eyes wide open after hearing the price.
“Yes, what’s wrong?”
“Spendthrift, 30 million, you can’t spend money like this, really, I don’t know what to say to you”
“Wen Jie, do you know that your son spent 30 million to buy a villa?”
Su Chengyang’s mind was filled with black lines.
“It’s just 30 million, what’s the big deal?”
Liang Wenjie curled her lips, looking calm and relaxed.
Su Chengyang’s mouth twitched.
Before, when he told Liang Wenjie about buying a house, her expression was even more exaggerated than Lao Su’s.
Lao Su was also speechless.
He didn’t know what to say.
“Okay, let’s eat first and talk after we’re done.”
Liang Wenjie greeted.
Upon hearing this, Old Su had to put aside the many things in his mind for the time being.
The family of three sat at the dining table and started to eat.
After dinner, Old Su called him to the study and asked about his affairs in the United States.
Su Ze picked out the important things to talk about. After learning that his son had spent 3.1 billion US dollars to acquire a game company, Old Su was completely stunned and completely dumbfounded.
3.1 billion US dollars.
Such a large sum of money, used to buy a game company?
And it was only 52% of the shares.
It’s simply nonsense and a waste of money.
Su Jianliang beat his chest and stamped his feet.
He almost couldn’t breathe. After a long time, he returned to normal.
Although he thought his son was nonsense, from the side, he also had an understanding of Su Chengyang’s wealth.
Before this, he only knew that Su Chengyang was rich.
As for how rich he was, he didn’t know. At that time, even Su Chengyang himself didn’t know.
Thinking that his son had become a multi-billion dollar tycoon in just a few years, and he had been working in construction projects for more than ten years, and couldn’t even match his son’s fraction, Su Jianliang opened his mouth, not knowing what to say.
“”Dad, how is our company doing?” Su Chengyang suddenly asked.
Father Su runs a real estate business and is considered a celebrity in the real estate circle of Chongqing.
However, when the subprime mortgage crisis broke out and the global economy was in recession, the real estate industry suffered a severe impact. A large number of real estate companies went bankrupt due to debt problems, and this number is at least one or two thousand.
Father Su shook his head and said,”It’s not optimistic. There is not much money in the company’s account, and the loan from the bank has not been received. Now the workers are in a panic. In addition, there are two real estate projects that are about to stop due to funding problems.”
Su Chengyang nodded, not surprised.
“Dad, can you tell me how much liquid funds are left in the company’s account and how much money do we owe the bank?”
“Not much, not enough to repay the bank loan.”
There is a big hidden danger for domestic real estate developers, that is, they like to engage in high leverage.
That is, they spend tens of millions to buy a piece of land, and then use this land to mortgage to the bank, use the mortgage money to build a building, and then build a few floors and start pre-selling to the outside world, use the pre-sale money to buy land again, and then mortgage it again, repeating this routine.
Rapid expansion.
However, this high leverage and high debt model often causes real estate companies to have a frighteningly high debt ratio.
Once they encounter a market tightening or a problem in any link of the capital chain, they face the risk of bankruptcy.
Unlike Hong Kong real estate developers, whose debt ratio is only a few percent, and the highest is not more than 20%, they develop steadily and take a long time to develop a piece of land.
Mainland developers are crazy about acquiring land and pursuing scale.
They seem powerful, but in fact they have a low ability to resist risks.
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