NOVEL NEXT Chapter 32
Looking at his son who was talking freely, Father Su’s expression did not change much, but he was shocked in his heart.
He did not expect that his son, who had studied abroad for several years, would have such insights into the real estate industry, and he even determined that the housing prices in Yucheng had not increased much in recent years. This concept coincided with his.
In fact, he also wanted to go to Yanjing, Shanghai, and Pengcheng to do real estate, but the land prices in these places were hundreds of millions, which was not affordable for the Royal City Group, whose asset scale was only more than 1 billion. With insufficient capital and no connections, how could they beat the big developers and local snakes.
It is different now. If Su Chengyang really injects 5.6 billion yuan into the Royal City Group, not only will it reverse the current predicament, but it will also have funds to bid for land in Shanghai for development.
“Okay, I’ll listen to you. It’s the Chinese New Year and your uncle will be back. I’ll talk to him then.”
Old Man Su thought for a moment and agreed readily.
Then he started asking when the money would be deposited into the Royal City Group account.
“After the New Year”
“The New Year is coming soon, so there is no need to rush.”
Father Su thought about it and it made sense.
“What are you two talking about? There is no rush.
Liang Wenjie walked over slowly.
“Wife, do you know how rich our son is?”
Looking at the way Father Su deliberately showed off his mystery, Su Chengyang shook his head.
“How much?”
Liang Wenjie pursed her lips to prevent herself from laughing and cooperated with her husband.
Old Man Su did not speak, but stretched out a finger.
Liang Wenjie suppressed her smile and said,”100 billion?”
“”Eh~~How did you know?”
Father Su was a little upset.
Su Chengyang, who couldn’t bear to watch, said,”Dad, I told Mom before you came back.”
“ah?”
“I thought she didn’t know.”
Old Man Su’s face was embarrassed.
It caused a lot of laughter.
After resting at home for a while, Su Chengyang suggested going to Yucheng Group to take a look and find out the bottom.
Old Man Su was naturally happy to see that his son cared so much about Yucheng Group.
Many rich second-generations only know how to mess around and have no intention of taking over the family business, so that it is eventually handed over to outsiders to manage and only end up with dividends.
The headquarters of Yucheng Group is in an office building near Jiefangbei. He has been there before. There is only one floor, not the whole building. The area is not very large, only about 700 to 800 square meters in total.
But the location is very good.
The driver is Old Man Su’s driver and bodyguard. He has been with Old Man Su for ten years and is considered an old man.
As for Liao Haidong and Fang Jinwu, they drove behind.
The public security in Yucheng was not very good in 2009, and the rumored Mou Qiang who had slept with many female stars and occupied the policewoman has not been arrested yet, so it is better to bring bodyguards with you so that you can handle any problems.
As for Mou Qiang, with the network of relationships woven by the Su family, the Liang family, and the Qi family with my grandmother’s family, it is impossible to say a small Mou Qiang.
Moreover, the Su family has a good relationship with the Southeast man now. In the early years, when Su Chengyang did not go to the United States to study, he went there with his grandfather Su Yuanchao and called that man”Uncle.” The other party even praised him for taking a photo with him.
The topic has gone off the topic.
Two Mercedes-Benzes drove one after the other and soon arrived at the building where the Royal City Group is located.
“Bang~~”
After closing the car door, Su Chengyang and Old Man Su were in front, and Liao Haidong, Fang Jincheng and others were behind. The five of them took the elevator and slowly went up.
“Ding~”
The elevator door opened.
When Su Chengyang stepped out of the elevator, he saw the big words”Yucheng Group”
“”Hello, Chairman.”
The front desk lady stood up quickly when she saw Old Man Su coming.
Su Chengyang took a glance and saw that she was quite pretty.
After the few people left, the two front desk ladies began to chatter.
“The handsome guy who was walking with the chairman just now looks a bit like the chairman.”
“You think so too? I thought I was just misunderstanding”
“Hey, Xiaomei, do you think that handsome guy is the chairman’s son?”
“Very likely! What, are you crazy about it? Do you want me to help you strike up a conversation?”
“Go away, stop talking nonsense, he is a rich second generation, how can he look down on us”
“That’s not necessarily true. Wasn’t he just looking at us?”…
“Dad, you are so brave, aren’t you afraid that Mom will make you kneel on the washboard?”
Su Chengyang glanced at the enchanting figure going away and teased Su’s father.
Su’s father’s face turned black.
“Don’t talk nonsense~~”
“Besides, I am upright and have nothing to fear.”
Su Chengyang smiled slightly. He did not believe that Old Man Su dared to have an affair with Liang Wenjie.
If the Liang family were to do it, Old Man Su would have a hard time.
Moreover, Old Man Su was not the kind of person who would be easily attracted to other women and was very keen on beauty.
“Here, take a look. This is the company’s account.”
Old Man Su took a document and handed it to him.
Putting down the cup in his hand, Su Chengyang took it and flipped through it. It was finished in a short while.
In general, it was better than he thought.
According to the account book, there was still nearly 180 million in working capital, and the debt owed to the bank was about 340 million.
In addition, there are currently two residential projects under construction.
It is expected that after the completion of the project, it will bring in 400 million in net profit income.
However, the sales time is too long. After all, the houses are not sold all at once.
Especially in Yucheng. With a huge amount of land supply every year and the current financial crisis, there will definitely be fewer purchasing customers and demand.
In this case, if these two projects can really be used Now, it is estimated that it will take three to four years.
In addition to these two newly built projects, Yucheng Real Estate Group currently has a three-star hotel in Guanyin Bridge, named Yucheng Hotel.
There is an office building under renovation in Jiefangbei.
In addition, there are several previously built community parking garage properties, and several undeveloped land. The miscellaneous assets add up to more than ten billion.
In fact, the debt ratio of Yucheng Group is much better than that of other real estate companies. The reason why it is in trouble is mainly because the real estate market has cooled, banks have withdrawn loans, the initial investment cannot be recovered in a short time, and the loan is due again, which has caused the current predicament of Yucheng Group.
Putting the documents in his hand on the table, Su Chengyang nodded and looked at Old Man Su:”It’s much better than I thought.”
“I thought the debt ratio was 60 or 70, but it was only 40.”
Father Su grinned and said,”Do you really think your father wants to expand blindly like others? If we were like Longhu and Jinke, our Yucheng Group would have been valued at 50 or 60 billion.
It would not be like now, with a valuation of only a few billion.”
“How about it, are you relieved now?”
Su Chengyang nodded, patted the document, and said with a smile:”From this document, it is indeed good.”
“”Dad, I think these plots of land are in good locations.”
Su Chengyang said.
The locations of these plots of land are all good.
One plot is close to Guanyinqiao Business District, within a kilometer, and the area is not small.
The other two plots of land, one is on Beibin Road, and the other is near Nanping Business District. Both are residential land and have development value.
“Nonsense, I spent a lot of money to buy this. If I hadn’t bid for these three plots of land, I wouldn’t have been unable to pay back the bank loan and interest.
“Well~~ I suggest that these three plots of land be left empty for now, and it won’t be too late to develop them after a few years when the market conditions in Yucheng improve.”Su Chengyang said slowly.
In the next seven or eight years, the housing prices in Yucheng were suppressed too much, hovering between 5,000 and 7,000. It was not until Huang left that the housing prices immediately rose and exceeded 10,000 yuan.
Before that, Su Chengyang thought that adding more residential projects in Yucheng did not make much sense.
The key point is that there is no stipulation that construction must be started within three years for this land. Even if there is, some excavators can be sent in to work for a few days after a period of time. I believe that these methods are not a problem for the old man who does real estate.
Dragon Boat Festival reading discount! Recharge 100 to get 500 VIP points!
Recharge now (activity time: June 22 to June 24)