CHAPTER 682: CHAPTER 673: SYMBOLISM OVER SUBSTANCE

At exactly five o’clock in the afternoon, Sun Yutao arrived at the meeting room to announce the subscription details of this round.

The news generated mixed reactions—joy for some, worry for others.

This time, there were a total of fifteen institutions and investment departments of seven or eight companies participating in the subscription, but only a small portion of the intent letters were accepted.

This result also sends a signal that Lu Liang’s period of accepting all comers has ended, as he begins to narrow his core circle.

Like the evolution of a pyramid, which may initially have a hundred people, gradually dwindling to eighty, fifty, and eventually just a few.

And Lu Liang himself is undoubtedly at the apex of this pyramid, with domestic capital represented by Golden Sand River Venture Capital, Hong Kong Capital represented by Keying Expansion, and foreign capital represented by Blackstone Group underneath him.

However, Wilson, who previously seemed to have reconciled well, was merely a bystander in this round of subscription.

This outcome made many lament the ruthlessness of capital, where one moment you are brothers, and the next you are decisively discarded—most likely due to interests.

This also led many to speculate whether this incident is a sign of JPMorgan Chase’s decline.

By the time the Q3 report is announced, will it mark the beginning of JPMorgan Chase’s downfall?

After all, a powerful capital consortium, even if it just restrains its sharpness, is enough to bring substantial profits.

Just like previous financial cooperation with them, where the interest rate was always decided by JPMorgan Chase, without room for negotiation in the past, but now it seems uncertain.

Just like today’s settlement for the fourth private placement, even if it’s a loss, people would still trust Tianxing Quantitative again. Lu Liang’s ability to make money would not be entirely denied just because of one failure, though the management fee structure might need an adjustment.

Wilson received Director Lu’s new script, reluctant in his eyes, yet he accepted it, angrily flinging his hands before leaving directly.

This scene was witnessed by many, igniting unrest in their hearts that could no longer be suppressed.

One by one, they discreetly approached Su Shimin to inquire about the reason, whether the original plan would still proceed.

Although reluctant to admit it, it’s now an undeniable fact that Lu Liang stands independently.

Before coming, they had agreed that Lu Liang’s attitude towards JPMorgan Chase would dictate their attitude towards it.

A lion, even when gravely ill, is still a lion; it had once ruled the savannah for a time, with its residual might still present.

They didn’t have the courage to be the standard-bearer in a direct confrontation with JPMorgan Chase, but they were bold enough to fish in troubled waters—and quite boldly so.

"Let’s observe for a while before deciding."

Su Shimin still wore a smile, eyes narrowing as he selected his desired prey, much like a hunter.

Lu Liang had his own plans, and so did he.

Delimei was a small commercial investment bank that had just undergone bankruptcy restructuring, with total assets of less than two hundred million, its appetite destined to be limited, while JPMorgan Chase was deeply embroiled in crisis.

If Lu Liang’s plan could be smoothly implemented, then the one who takes the biggest share of this pie would undoubtedly be them.

The restructured Blackstone Group, with its 33-year history, should now ascend to greater heights and become a top institution on Wall Street.

Lu Liang glanced in their direction with the corner of his eye and smiled slightly.

That night, under the disclosure of an unnamed person, the true earnings of the gold robbers were made public.

"No wonder Liangzi used to say that buying gold is the best investment for ordinary people."

"Over the past two weeks, the domestic gold price has soared by 40 yuan per gram, with a return of 12%, which seems better than buying stocks."

"3.3 billion US dollars, according to the current exchange rate, equals 22.77 billion. Since when did making money become this easy?"

"The 3.3 billion US dollars is the total earnings; Liangzi didn’t earn that much. I heard that Tianxing’s income from this round’s management fee is only over 1.4 billion."

"Only? Over 1.4 billion? Is the unit still in dollars???

"This doesn’t excuse not pulling a few Tianshu, right?"

Capitalists were supposed to be detested, yet Lu Liang made substantial profits, and the vast majority of netizens genuinely weren’t envious.

After all, he was stirring up the international market, and even though East Country has the most retail investors globally, the ones who can enter the international market are at least middle-class and not ordinary people.

The main reason was the positive reputation Tianxing District brought to Lu Liang. An ordinary worker’s comprehensive monthly salary could reach over 10,000 yuan, forcing competitors to improve their salary packages. Just this was enough to erect a monument for him.

Despite the past two and a half months where, to increase production capacity, shifts were almost always 24-hour two-shifts, earning a reputation as a sweatshop.

Yet online complaints were mostly mild; those who truly cursed were probably not current employees of Tianxing Automobile.

Because young people are unafraid of hardship, nor of fatigue; they only fear not receiving due returns for their efforts.

Tianxing District, founded by Lu Liang, truly implemented the principle of more work, more pay. Even if they were to eventually collapse from exhaustion on the production line, it was their own choice.

In the evening, Lu Liang organized a dinner, inviting Liang Wenhu, Li Junwei, and Tang Caide.

"The final stages of Magic Square might take a few more days, Caidie, why don’t you head over to Xiangjiang tomorrow?"

"Get familiar with the local environment, and once Junwei leaves HSBC, strive to have the structure of the quantitative company established before the end of the month."

After arranging the follow-up work, Lu Liang raised his cup: "For Tianxing Quantitative, we’ll be counting on you all in the future."

"You’re too kind, Mr. Lu."

"We certainly won’t let you down."

All hurriedly raised their cups, causing Lu Liang to chuckle, "Eat up; let this meal be a farewell banquet for you, wishing you all a smooth journey."

He typically didn’t like drinking while discussing business matters.

While eating and chatting, they filled in any missing pieces.

Once the meal was done, the matters discussed were basically complete.

The dinner didn’t last long, only about half an hour.

After the meal, Li Junwei caught the nearest flight back to Xiangjiang, while Tang Caide returned home to pack his luggage, preparing to head to Xiangjiang the next day.

Liang Wenhu mentioned having urgent company matters to attend to, also returning to Hang City overnight, attempting to wrap things up early to head to Xiangjiang for his duties.

In the blink of an eye, the room, spacious enough to accommodate over a dozen people, was left with only Lu Liang, who continued to eat a bit more before heading to the Hilton Hotel.

Wilson, Su Shimin, and several Wall Street institution heads were all staying there, but Lu Liang wasn’t there to meet them.

The plan was best carried out with tacit understanding; for the next two months, they needed to minimize contact to avoid complications.

Lu Liang’s visit was to find Flannery to first understand the Western markets’ attitude toward electric vehicles.

Even though their company also has a marketing department, even if a team conducts local investigations, it would not have as thorough an understanding of the industry as a century-old car company.

Since it wasn’t an official meeting, the two headed to the bar on the fifty-second floor and ordered a bottle of whiskey to drink while chatting.

Flannery smiled and said, "In my view, Tianshu landing in Europe and America should be more symbolic than practical."

Even though East Country’s new energy industry has boomed, increasing national market share from less than 1% to 10% within just three years,

The global mainstream still favors internal combustion engines. Small countries in Asia, Africa, and Latin America can’t even afford electricity, so hoping they would buy electric cars?

Moreover, while European and American developed countries outwardly emphasize environmental protection, their actions are quite different.

Take last year’s Tesla sales as an example: a total of 281,800 units were sold domestically and abroad, with East Country accounting for 197,600, or more than 66%.

And at least half of the 84,200 units sold abroad were due to Musk, the man closest to Iron Man in reality.

From Mars colonization to the Starlink project to rocket recovery, most Tesla owners abroad pay in pursuit of ideals, but to say they love electric cars? Not really.

Furthermore, if used for operational purposes, such as delivery, in some foreign regions, oil prices and electricity prices aren’t much different.

Not every country, after all, can compress national peak electricity prices to below 1 yuan like East Country.

This is partly why General Motors was willing to cooperate with Tianxing, even after losing a chassis technology R&D team to poaching, without getting upset.

Because the threat Tianxing Automobile poses to them is nearly zero, real manufacturing isn’t like finance, where one is one and two is two, without the possibility of being cheated.

Electric cars might develop in the European and American markets, but their market position is likely equivalent to sports cars within the automotive industry.

Even if the market reaches its peak, the market share is at most 5%, never exceeding 10%, making it a toy for a minority of people.

"Who can say for sure about future markets? What if there’s an iteration in energy technology?" Lu Liang responded with a smile.

Although he didn’t directly answer, he was essentially admitting Flannery was right—its symbolic significance outweighs its practical capability.

Tianxing Automobile’s entry into the European and American markets wasn’t for those markets but to boost domestic sales and add prestige.

Centuries of humiliation have made the Chinese eager for global recognition, believing that if foreigners don’t acknowledge something as good, it’s trash.

Flannery paused before continuing, "Even if so-called solid-state batteries or even fusion technology appear, do you think it’ll be launched?"

"Let’s talk instead about how General Motors plans to arrange Tianshu’s sales," Lu Liang took a sip of his drink, intending to shift the topic, for he had no way to refute it.

After all, some good technologies cannot be implemented simply because they are excellent; this world is ultimately led by people.

Just like during the late Qing dynasty, if technology development meant the elites cut off a part of themselves, losing status and power, most would rather not develop.

Ultimately, it’s about reforming oneself.

Not everyone possesses such courage.