Reaching the age of thirty, my income randomly doubled

Speaking of the greatest business miracle in China these past few years,

one cannot go without mentioning Xiaomi's seven-character maxim: Focus, Extreme, Reputation, Speed.

The youngest company to make the Fortune Global 500 is none other than Xiaomi Group.

In less than three years, they managed to sell Xiaomi phones into the top three domestically.

The impact of this is undoubtedly beyond imagination.

The one that could provide a stark contrast to Xiaomi is none other than LeEco's Jia Yueting.

Before 2016, Jia Yueting was having a smooth sail in the capital markets.

Not only did he grow LeEco's video to a market cap exceeding 100 billion, but he also ventured into phones, televisions, sports, and various other fields.

One of these included the once sensational blockbuster "The Great Wall."

Jia Yueting was even rated as the business tycoon with the fastest-growing fortune over these two years.

According to Forbes' rankings, his personal net worth had already reached nearly 100 billion.

His business miracle simply can't be fully described in just a few words.

He came to find Huang Zhongshi for one sole purpose, Tengying Entertainment was developing too rapidly.

No matter what, Huayi, being the bigger corporation even in its decline, was more significant to him than a horse, and for him, only by facilitating a collaboration between the two could they jointly counter Tengying Entertainment's extreme influence in the film and television sectors.

If there was one trait that Jia Yueting admired most, it was definitely his ability to tell a story with empathy.
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What Huang Zhongshi was lacking the most right now was cash, after all, a bank mortgage loan of over two billion was about to mature.

On top of that, there were various debts, all coming to him at the first opportunity, and he had to quickly gather three billion in capital to break free from Tengying Group's encirclement.

Regrettably, Jia Yueting, with all sincerity in his face, ended up proposing a share swap.

What does this mean? It means exchanging LeEco's shares for those of Huayi Group.

Huang Zhongshi's face changed on the spot, and in the end, no one knew how Jia Yueting persuaded him.

In the end, he agreed to swap 20% of Huayi's shares for 8% of LeEco's shares.

After the cross-shareholding, Jia Yueting suggested that if he really was short on cash, he could mortgage LeEco's shares for a bank loan.

Given LeEco's current stock price, mortgaging 8% of the shares for a loan of over two billion was quite straightforward.

This was probably why Huang Zhongshi agreed to the share swap with him.

It was a pity, though, that he still underestimated Chen Pingsheng's determination to completely besiege him.

...

January 6, 2017.

Just three days after New Year's Day, Chen Pingsheng didn't return to Magic City but stayed at the Xiangjiang headquarters.

After repaying all the money to Guo Ziyi, the mortgage on the Xiangjiang headquarters building as well as the four sets of premium storefront properties was also reclaimed.

However, this also meant paying three billion in interest, which was already quite low under the pressing circumstances.

Following this battle with Huateng, he began to frequently get in touch with the four big families in Xiangjiang.

His main focus was to understand foreign investment and the economic situation in Southeast Asia.

While he was having a good time chatting with Guo Ziyi and the others, his secretary Xu Jing suddenly came over to report to him.

"Chen, Jia Yueting has made a move with Huayi to complete a share swap, and Huang Zhongshi is currently using these shares to apply for a mortgage loan from the bank,"

"Jia Yueting?"

Chen Pingsheng was momentarily stunned but quickly realized the key point—over the years, Old Jia had been telling stories with a few PPT slides.

Using financing money for various projects.

Fundamentally, they were huge losses, and he himself was completely unreliable.

Apart from his gift of the gab, there wasn't any aspect of corporate management worth noting.

LeEco's operation was larger, more akin to a Ponzi scheme.

So far in the domestic market, all businesses operated like his are basically scammers.

They proclaim all sorts of stories to the public, but in private, they're transferring assets away.

With the release of War Wolf 2, it is certain that Tengying Entertainment is about to take over the position originally held by Huayi.

To secure the title of entertainment industry's number one, Jia Yueting jumps out not just to get Huayi shares but more so to use Huayi's resources to elevate the status of his LeEco Video in the entertainment circle.

To put it bluntly, it's the former second-in-command taking the top spot.

Now the third in line starts collaborating with the fallen first to target him, the current leader.

The idea is nice, but unfortunately, LeEco itself is like a stopper for a funnel.

He had already investigated LeEco; to call it a business miracle would be an overstatement when it's more likely a big glove for some people.

It was specifically used to siphon off cash assets, not to mention Jia Yueting's new energy vehicles.

A beautiful concept indeed, but in reality, it was just a high-level tool for openly transferring assets abroad.

From the beginning, LeEco was a company through and through.

"Has Jia Yueting solved his own troubles?" Pingsheng said discontentedly, "You arrange for some people to openly report overseas that his new energy vehicle manufacturing is nothing but a shell company, and also find some domestic newspapers to publicly expose his asset transfers."

"The most complete industrial chain for new energy vehicle manufacturing is only in China, and among all these new forces in car making, he's the only one building a factory in America. Isn't that a clear sign of asset transfer?"

Whether or not it can be uncovered, just create a big enough stir with the news.

The dream of Huang Zhongshi to apply for a mortgage loan with the LeEco shares he tried to obtain through a swap will be shattered.

He vowed to hold up that bank loan no matter what, as for LeEco.

Tengying Group had already made it clear that if LeEco dares to meddle at this time, they will be ready for a confrontation.

Tengying Group has already started its global journey through Xin Teng Preferred, having resources both domestically and internationally.

Arranging a few whistleblowing reports is a simple task.

However, for a whistleblowing report to have an impact, it needs to be coordinated with the news media.

Nearly as soon as the overseas report hit the news in the morning, domestic media received the word by afternoon.

By the evening, a series of news articles targeting LeEco for transferring assets began to appear in the media.

They didn't use words like 'allegedly'; they went straight to saying it was transferring assets.

The media, daring to report so, either really have some critical evidence, or they would have to bear a great responsibility.

The so-called asset transfer can take many forms.

The first aspect to be reported was the internal problems within LeEco.

Like Tengying Group, LeEco belongs to a cross-industry mega-group.

And it does not have just one or two projects under its belt.

As long as these many projects are financed separately, they are equivalent to independent projects.

Let's say investor A injects one hundred million into LeEco's TVs, but during this process, Jia Yueting quietly diverts thirty million into his new energy vehicle manufacturing without anyone realizing it.

This is called misappropriation of funds, and because the factory is built abroad.

It is also known as transferring assets.

Obviously, diverting an investor's funds from another project into the new energy vehicle manufacturing abroad.

This is undeniably a crime and a great irresponsibility towards the shareholders.

If this point about Jia Yueting is verified, then his LeEco empire is basically facing the threat of a complete collapse.

He wouldn't need to attack it any further.

As for whether he can still stay stable in the country, that depends on how big the hole he's dug for himself is.

From what he knew, LeEco, once under investigation, would go off like a fuse.

Unless someone above wanted to protect him.