Climbing the Career Ladder - -

Li Mengze returned to his old routine, commuting between Tianjin and Beijing each week. No longer bound by weekends, he would travel whenever he felt inclined, moving from Beijing to Tianjin and then back again. Occasionally, Zhang Xiaoqing would also visit Beijing on her days off to see her sisters and to check on her father-in-law at the hospital. She had already distributed the money that was due to everyone’s accounts and handed over her entire monthly salary to Su Qianyun. At first, she was unaccustomed to receiving living expenses from Su Qianyun, but she soon realized that this was all part of being in a unified, large family. No matter where you are, you cannot expect special treatment; only in this way can the family thrive.

During this time, a dispute arose at Xixing Corporation involving Li Mengze and some employees.

The General Manager, Li Yudong, disagreed vehemently, almost jumping down his throat; Wang Zhaoyun clenched her teeth and said “no way,” while Lu Jing looked on skeptically; Xu Peng from the management department turned his head away, seemingly indifferent, and although Li Lin was more accommodating, she too shrugged helplessly, as if fearing getting upset. Other company leaders were not eligible to participate, primarily to keep Li Mengze from being exposed.

“Mengze, are you trying to play us, putting us in a difficult position? The price of this building is a bit high, but taking it over can definitely make money. We’ve gone over the figures several times. Besides, the company has just started a relationship with the Municipal Construction Committee. It’s our first cooperation and our first deal, something we have all worked tirelessly for over two months. You understand the importance of maintaining momentum, don’t you?” Li Yudong said, growing increasingly agitated as he spoke.

“You haven’t started cursing me yet, so it doesn’t seem too urgent. Remember, you used to dare to scold even the director. Zhaoyun, do you have anything to say?” After letting Li Yudong vent, Li Mengze smiled and turned to Wang Zhaoyun.

“I really regret having been classmates with you. You’re a mess, expecting us all to hang in there with you. Lu Jing, don’t worry, he can’t beat us all,” Wang Zhaoyun said dismissively, comforting her girlfriend Lu Jing instead.

“What about Chen Qian? You shouldn’t have any objections, she just got back; and Xu Peng, Li Lin, you handle this,” Li Mengze said, effectively stopping someone who was about to lose their temper. He knew Li Lin was more even-tempered.

“We’ve all worked hard for a month or two, and you think you can just dismiss these achievements? That’s not going to fly; your reasons better be solid,” Li Lin said, seeing Xu Peng wouldn’t even turn his head, and she had to mediate.

“Let’s not get heated, let me finish speaking, see if it works. If I can’t convince you, then like Zhaoyun said, don’t worry, we’ll go with what you all decide,” Li Mengze said with a rueful smile.

“Actually, this matter isn’t really my responsibility. I’m just here to provide the funding, but I understand that outcomes can be immediate or distant, good or bad. You all have made good considerations, and everyone has been working hard. I’ve seen clearly how everyone was two months ago and how you are now, I really do understand. But you might not be thinking far enough ahead. Our company needs to build momentum first. Our goal is to train the team, to make money, but we are in it for the big deals. Our starting point is to take over unfinished buildings in the city, to complete and enhance their value. However, the original designs of these buildings are no longer suitable for investment. What to do? We need to also renovate the surrounding buildings. That’s our plan, and for this, we need others to recognize our capability,” Li Mengze continued.

“And how can we gain their recognition if we never cooperate?” Wang Zhaoyun added, feeling her earlier words were too harsh.

“It’s about refusing, refusing the deals that are nearly done. That’s the difference between buyers. As a buyer, we need to make the seller feel desperate to sell, not just waiting for the best offer, but anxious to get rid of it.”

“A building project has been abandoned for many years because there were compelling reasons it couldn’t proceed, and our decision to take it over was simple. The issue is that Tianjin has dozens of such unfinished projects, and there are hardly any companies bold enough to take them on. Nationwide, the problem is even more extensive, with too few companies having the necessary funding to engage in such ventures. I think everyone understands that our biggest advantage is our financial resources, which are substantial-something no other real estate company can match. We must capitalize on this. Let me share another insight: many of these unfinished buildings are from owners desperate to sell to avoid bankruptcy. Just hold on for one more month. Zhaoyun, your department will need to work hard, go through all these cases thoroughly, and ideally, contact the owners directly. We aim to make a significant impact!”

Li Mengze was rallying the team, showing his keen sense for the stock market and identifying numerous issues therein. It could be said that Wansheng’s move, while unsettling for many, also marked a turning point, providing opportunities that he was now ready to seize by deciding to invest even more in the company.

“From now until the end of the month, I won’t be coming to the office; I’m leaving it in your hands. Also, I’m transferring another 2 billion yuan into the company’s account, make sure to keep it safe. Don’t look at me like that…” Amidst the shocked stares of everyone, Li Mengze quickly left the meeting room, leaving others to deal with the aftermath.

“Chen Qian, don’t get angry, I knew we couldn’t outplay him, getting upset is pointless,” Xu Peng said, convinced that no one could persuade Li Mengze, now trusting him more than himself.

“Mengze is not naive, he must have his reasons!” Wang Zhaoyun was the second to defect.

“Mengze is ruthless,” Li Yudong said angrily, then instructed his team, “Let’s reject that contract outright. What are we afraid of? We have money; if someone is desperate, they come to us, if not, why should they? We’re financially solid, no need to beg. Let’s plan, recruit more staff, expand our operations, and if there’s no immediate work, we train in the meantime.” With that, Li Yudong left the meeting room with a swish.

At Southern Haisheng Company, business was booming, extensive connections and ample funding, along with a sound industrial strategy, swiftly set the company on the right track. Revenue was rising daily, and the promising profit outlook had the entrepreneurial veterans beaming with joy. People naturally tend to compare themselves to others, always striving to outdo them, and Yulong Electronics was no exception, inadvertently measuring itself against two other companies. Unknowingly, these entities became competitors, especially the latter two, and where there’s competition, friction inevitably follows. As the saying goes, when two tigers fight, one is bound to get hurt, and so these three companies secretly pushed themselves to the limit, resulting in joy for some and sorrow for others. In contrast to the breathtaking internal strife at Xixing Corporation, the other two companies were united, working closely together. Yulong Electronics continued to lead, though no longer dominating the scene; Haisheng Company, built around five old university classmates with the staunch support of generational friends, might not have matched the growing maturity of Yulong Electronics, but was certainly beyond comparison with Western Star Corporation.

Chen Haisheng and his colleagues were still unfamiliar with Xixing Corporation, but they had plenty of speculations, especially since it was a real estate business established around the same time as theirs. Chen was initially very anxious, but as his company’s business flourished, he gradually let go of his concerns, too busy to worry, prioritizing his own ventures. However, not long ago, when Chen Qian returned to the country, she was quickly scooped up by Xixing Corporation, a fact that, despite seeming advantageous due to proximity, was undeniable and even Yulong Electronics had missed out on her, clearly indicating the strength of Xixing Corporation. Even Jin Yulong, who previously had little interest in hiring university classmates, felt disappointed at not having recruited this talented woman sooner.

Jin Yulong had not been keen on bringing in university peers initially, but as Xixing Corporation and Haisheng Company were established, he gradually changed his attitude, especially considering the talented woman who had returned from studying abroad.

Chen Qian’s joining had significantly enhanced Xixing Corporation’s appeal, leading many classmates to wonder about the company’s secrets. Among the three, it had the most mysterious funding, the poorest performance, yet it continued to attract talents to join. Could it be that its capabilities were truly extraordinary, indeed incomparable to the other companies?

At that moment, Chen Haisheng found himself thinking of Li Mengze, questioning whether he had underestimated him. His uncle had subtly hinted that Li Mengze had played a part in securing that funding.

He vividly remembered the worn look on his uncle’s face during that period. Yet, considering Li Mengze was now the deputy general manager of Wansheng, a time when the company was short-staffed, it seemed unlikely that he would push Chen Qian out, especially given the improbability of him possessing such a significant amount of money. Thus, Chen Haisheng ultimately dismissed Li Mengze as a possibility.

Despite worries and disagreements, calm soon returned to Xixing Corporation. The team regathered their energy, ready to make a significant effort.

Western Star Corporation organized its HR team to evaluate all unfinished buildings in Tianjin, develop detailed plans, and consult experts for valuations, with every detail documented. Nearly every building was discussed repeatedly, more than twice in many cases.

The HR department recruited more staff than usual, even headhunting talent from other real estate firms, while the management department focused intensely on staff training.

Xixing Corporation was preparing for a major battle. Although there was residual resentment from a previous incident, turning back was no longer an option, so the entire staff was on high alert, with even Chen Qian sensing the intense, eerie atmosphere.

Indeed, in less than a month, Xixing Corporation, with its formidable financial resources and legendary performance, became an undeniable force within the industry.

On January 10th, the phrases “stock market crash,” “Wansheng Company the second,” and “investors committing suicide by jumping off buildings” dominated the headlines. They appeared prominently in nearly all national and local newspapers, on the front pages of major internet news websites, and during certain segments on news television channels.

The stock market crash had occurred.

Suddenly, Wansheng Company was remembered again as another company, nearly as legendary, came into public awareness and was dubbed “Wansheng Company the second.”

This time, the company caught in the stock market turmoil was Jianghuai Group Corporation. According to statistics, its stock underwent a legendary rise similar to that of Wansheng’s, escalating from a low of 5 yuan to 14 yuan. Despite a split under the supervision of the Securities Regulatory Commission, where the stock was divided from one into two, it continued to rise robustly. Heavy backing from major stockholders pushed the prices up wildly, reaching a high of 20 yuan, forcing the company to adopt a 1:2.5 rights issue to lower the stock price. However, like fermenting dough, the stock price rose again within a mere half-month, reaching 21 yuan per share.

This price level and trend shocked many, delighted others, and satisfied many investors. However, many believed “this was just the beginning.” It was at this moment that suddenly, someone started selling off large amounts of stock, with the selling price around 20 yuan.

This sudden drop in stock prices sent Jianghuai Group Corporation’s shares tumbling like an avalanche-a staggering 60% plunge in just one trading day, followed by a trading halt. When trading resumed, the stock fell another 40%, and then declined by an additional 45% on the third day, ultimately hitting the lower circuit limit with a 35% drop on the fourth day, where it finally stabilized. On the fifth day, the stock decreased by another 5%, allowing investors to flee en masse, though by this time, the activity was too little to impact the already critically low stock prices.

Interestingly, the stock did not continue to slide significantly. In the afternoon, there was a slight recovery, but the investors were too frightened to stay, leading to a mass exodus. There were signs of some capital inflow, resulting in the majority of the company’s stock being repurchased by Jianghuai Group Corporation. A small portion remained in the hands of individual investors, but the stock price was extremely low. Even after a slight recovery, the stock was trading at merely 2 yuan.

Xixing Corporation, though not yet qualified to go public nor possessing the capital for stock market investments, greatly benefited from this stock market exercise, much like other opportunistic companies.

Starting from the morning of January 10, calls began coming directly to Wang Zhaoyun’s public relations department, and even to her desk. These callers were either developers or their representatives. Initially, Wang Zhaoyun and her team were puzzled, but by nearly noon, they had fully understood the situation.

Xixing Corporation decided to delay any immediate responses and instructed the public relations department to halt all current tasks to prepare fully for what was to come. They knew these were just the first of many who would seek them out. Indeed, from that afternoon and continuing into the next day, and the days that followed-up to ten days later-there was a flood of calls inquiring if Xixing Corporation was still interested in purchasing buildings, often mentioning, “Our properties are well-located with high potential for appreciation.”

Wang Zhaoyun and her team took on as many as they could handle. They quickly contacted the Municipal Land Bureau and the Municipal Construction Committee to request cooperation and facilitate the processes. In fact, during this period, the public relations department was not inactive; they focused on building relationships with municipal departments, thus ensuring smooth cooperation. Agreements were signed swiftly, not only purchasing unfinished buildings but often also securing development rights for adjacent lands. By January 20, less than ten days later, twelve contracts had been signed, with negotiations ongoing for several more. One of these negotiations had already been finalized, prompting Xixing Corporation to urgently secure a loan of 1 billion yuan from banks to serve as contingency funds and strengthen the company’s financial position.

News of these developments spread quickly, and soon six contracts were fully signed. Including the earlier finalized negotiations, the company had acquired a total of 19 unfinished buildings, establishing itself as a major player in the unfinished buildings market. The stir this caused was significant, and with rumors of internal disputes at Xixing Corporation also circulating, other developers of unfinished buildings became increasingly anxious.

News from Xixing Corporation indicates that the company’s funds are running low, totaling only 1.2 billion yuan, including loans. Two differing opinions have emerged within the company: one suggests postponing the acquisition of new unfinished buildings and instead investing the funds in the development of already acquired properties; the other advocates for continuing acquisitions, using bank mortgages to cover the shortfall in funds. The influence of both opinions was nearly equal, and although the latter eventually became the mainstream, it was decided as a compromise that no larger-scale acquisitions would be pursued. This decision alarmed many property owners who were still negotiating prices, prompting them to hurriedly try to offload their properties, with even those previously inclined to wait now frequently calling to say they had business to discuss. Wang Zhaoyun, the minister of external relations who is rumored to advocate for maximum acquisitions, continued her efforts unabated, not only taking over the original 5 negotiations but also engaging in “tough” negotiations with several others. (19 buildings in total, costing 5 billion yuan per building for 3+0 buildings; 3 billion yuan per building for 5+2 buildings; 2 billion yuan per building for 2+3 buildings; 0.5 billion yuan per building for 2+2 buildings, totaling 48 billion yuan spent on 19 buildings)

“Mr. Wang, as you know, there is significant opposition within the company. Although I personally strongly advocate expanding our acquisitions, we have already acquired 5 more companies, and the company’s ledger isn’t exactly flush with cash, which is putting a lot of pressure on us. The company has already been very supportive of our department, and I can’t afford to be a drag. Can you consider lowering your price a bit more? Otherwise, it would be embarrassing for me to report this upward!”

Wang Zhaoyun, squeezing out tears of sympathy, reluctantly said to Mr. Wang, “Actually, acquiring those 5 buildings didn’t even cost 10 billion yuan; it was just 8.5 billion yuan. Even so, the general manager is dragging his feet, saying we can’t sign any more deals because we’re nearly out of money.” (1.7 billion yuan per building)

Mr. Wang was startled upon hearing this. He knew those buildings well, none of which were inferior to his; selling for less than 2 billion yuan each, how could Western Star Corporation accept his price of 2 billion yuan? He murmured to himself, wondering whether to sell now or delay further.

People tend to follow trends and go with the flow, and it’s hard for anyone to escape this tendency.

The negotiations for the acquisition of the buildings by Xixing Corporation were becoming increasingly difficult and selective.

Xixing Corporation had already acquired 24 unfinished buildings, and although they were not completely satisfied, on the surface, they seemed content, repeatedly stating, “Enough, enough, too much, too much.” Amid this peculiar situation, even the city government became enthusiastic, “assisting” in the signing of five contracts. Of course, the prices were neither high nor low, but there were many additional conditions, for which the city also “helped” Western Star Corporation secure a loan of 800 million yuan. These five unfinished buildings also included the one owned by Mr. Wang, ultimately priced at 170 million yuan. Thus, from January 20 to early February, just before the Lunar New Year, Western Star Corporation had signed contracts for the acquisition of 29 unfinished buildings, 12 surrounding land use agreements, and four memoranda of support from municipal departments. Naturally, the cost was substantial, with a total of 66.9 billion yuan paid in acquisition funds, all in one go.

When media journalists started hyping up Xixing Corporation, Li Mengze was already aware of the consequences, and he was informed of every contract signed.

Li Mengze was prepared, but still shocked by the fierce momentum. He originally thought it would suffice to acquire seven or eight buildings, at most maybe more than ten, but ended up acquiring nearly thirty, and at very favorable prices, too. He even considered injecting more capital, but stopped after hearing Li Yudong’s objections. As for the “unusual” actions of a few building owners, Li Mengze could only wryly smile. He knew he wasn’t the only lucky one in the world, and how could he stop others from enjoying their good fortune? Little did he know, he wasn’t the only one profiting immensely this time.