Extraordinary Genius - Chapter 245 – Setting the trap
Back at Bing City, Feng Yu did not return to his home at the district. He returned to Bing City to make arrangements for Tai Hua Trading to send Kirilenko 5 million Rubles worth of goods and he immediately flew to Hong Kong.
This time, he had borrowed a total of 420 million Rubles, and after all the rebates, he got 405 million Rubles. The rebates were lower than anticipated, and the number of loans was more than expected. Kirilenko had helped him a lot. From these loans, Feng Yu could tell how corrupted the banks were in the Soviet Union.
The money from the Soviet Union loans was not wired into his China’s account. It was deposited into Feng Yu’s Hong Kong Bank account. Feng Yu had rushed to Hong Kong immediately was to exchange his Rubles to other currencies like USD, English Pounds, Yen, etc. if he could not change all the Rubles, then he would bring the Rubles back to China and convert it to RMB.
Of course, if Feng Yu would prefer to “cheat” others than his fellow countrymen, especially ICBC. He was afraid that ICBC would get back to him after the Rubles depreciate!
Fu Guangzheng came to receive Feng Yu. Actually, he was embarrassed to meet Feng Yu. After all, his family had snatched the Aiwa shares from Feng Yu.
Although Feng Yu did not say anything, Fu Guangzheng did not receive any calls from Feng Yu after so long. He knew Feng Yu was not happy with them. If this happened to the Fu family, they would also react the same way. But because of profits and the persuasion from Fu Guangzheng’s brother, his father still made that decision. There was nothing Fu Guangzheng could do.
Actually, Fu Guangzheng wanted to sell the Aiwa shares to Feng Yu. He believed that Feng Yu would give them some profits and he could also do Feng Yu a favor. But his father did not listen to him. His father said: Feng Yu should not have any strong backing among China’s top officials. He only has some sources to get news.
If not, Feng Yu would not ask Fu Guangzheng to be the front of Tai Hua Home Appliances Factory in Guangdong. He would also not let Fu Guangzheng get a 20% stake in the factory. He could just ask his connections to settle everything.
Fu Rongjing had thought that Feng Yu had connections with China’s top officials and wanted to please the person behind Feng Yu. Since he found out that Feng Yu did not have any backing, his attitude towards Feng Yu changed.
The Fu Family started with retail business and had distribution channels all over the world. They knew what products could sell well. The Walkman market was on the rise, and Aiwa’s new products were well designed. Furthermore, they were confident of Feng Yu’s foresight and suspected Feng Yu had gotten some insider information from the top. The Walkman market in China will be booming, and if Aiwa’s Walkman could capture the Chinese market, then it would be a turning point for Aiwa. That was the reason why Fu Rongjing rushed to acquire Aiwa’s shares.
Although Fu Guangzheng’s status in the Fu family was different from before, he still could not influence his father’s decision. He wanted to explain to Feng Yu, but he never got the chance to do so. This time, Feng Yu had come to Hong Kong, and he wanted to make use of this opportunity to explain to him.
“Brother Feng, you must be tired from your flight. I had booked a room at the Peninsula Hotel for you. I had arranged for a welcome lunch for you later.”
Feng Yu glanced at Fu Guangzheng. The Fu family really look down on him. Only Fu Guangzheng came to receive him from the Airport. From the way Fu Guangzheng talk about the welcome lunch, Feng Yu knew that only Fu Guangzheng will be at the dinner.
This time, I must let the Fu family suffer some losses!
“Ha, ha, ha. Fine. I will listen to your arrangements in Hong Kong.”
The more Feng Yu did not mention about Aiwa shares, the more uncomfortable Fu Guangzheng was. From what he knows, Feng Yu was not the type where he would allow himself to be bullied by others. Could it be that Feng Yu wants to take back the distributorship of the humidifiers and bladeless fans?
But the Fu family had analyzed Feng Yu before. Feng Yu does not have any distribution channels outside of China, and if he decided to not work with the Fu family, he would give up the established distribution channels and suffer losses. He also needs to compensate for a substantial amount for breaking the contract. His reputation would also be affected, and other Hong Kong businessmen might not want to cooperate with him.
The Fu family is one of Hong Kong’s influential family, and other powerful families will also give them face. The smaller families would not dare to compete with the Fu family. Feng Yu had no other choices. This was also another reason why Fu Rongjing dares to acquire Aiwa shares. He felt that Feng Yu could only swallow all his grievances.
The Peninsula hotel was not as grand as the future years. It was because the hotel will undergo a significant renovation in 1994 and after that, it became one of the world’s most iconic and luxurious hotel.
Fu Guangzheng was the one from the Fu family at the welcome lunch. Even his brother was not at the dinner!
“Brother Feng, what’s your purpose for coming to Hong Kong?” Fu Guangzheng asked.
“Oh, I had transferred a large amount of Rubles to my Hong Kong account. I decided to play some Forex in Hong Kong. You should know about China. In China, there was no way I can play with Forex now. The banks will keep away all the foreign currencies.”
Fu Guangzheng’s eyes brighten up. The last time, Feng Yu forecasted Yen would rise, and his eldest uncle made lots of profits. This time, Feng Yu came to Hong Kong personally to trade. That means he has some insider information and the returns should be huge!
“Brother Feng, did you get some insider information? Can you share with me?”
Feng Yu glanced at Fu Guangzheng and smiled. Fu Guangzheng was embarrassed to continue.
“If I tell you the news, what would I get in return?” Feng Yu suddenly asked.
Eh? Feng Yu did not reject the sharing of his information?
Fu Guangzheng knew how much information was worth in the financial market, especial the Forex market. Even in Hong Kong, some people sell information for a living. Of course, no one would reveal their information sources.
“I will give you 30% of what we earn?” Fu Guangzheng had offered a high price to Feng Yu. In Hong Kong, most information had a fixed rate, and even if it were a commission, it would not be more than 10%. 30% was already a very high offer.
But this high offer did not move Feng Yu.
“Brother Fu, if it is you alone, I might agree. But once you know this information, you will tell your brother and father. Your father will tell your uncles. Soon your whole family will know. Maybe your family might even inform your business associates to improve their relationships. I will agree if you promise me that your 30% is more than 100 million!”
Fu Guangzheng was still feeling embarrassed, but he was shocked by Feng Yu mentioning 100 million. That means this time the Fu family might get profits of more than 300 million?
This was a huge deal. Not only his father but the whole Fu family would also be tempted. Fu Guangzheng could not decide on the spot, and he must let his father know about this.
“This…… I cannot decide about this. I need to discuss with my father.”
Feng Yu waved his hand: “I know you can’t decide. Ask your father to come. Or if your father wants, he can ask your eldest uncle along. I will speak to them!”
“Okay…… Brother Feng, if you do not have anything this evening, come to my place for dinner. My father should be home.”
Feng Yu smiled: “Fine.”