Extraordinary Genius - Chapter 570 – The Fu Family went crazy
Fu Guangzheng had asked for help with his uncles. He made use of their connections to buy some restaurants. His eldest and second uncles had properties in Taiwan, Malaysia, and many other regions. His third uncle also had supermarkets there. Fu Guangzheng and his father also had sales channels in those places.
This was an easy task for the whole Fu Family. When they combined their strengths, they were more influential than the Li Family. Of course, Fu Guangzheng also had to let them have some of the benefits. He can’t be expecting the whole Fu Family to help him for free.
Fu Guangzheng will transfer his shares of some Hong Kong companies to his cousins. The shares were not worth a lot, but it was a token of appreciation for his uncles’ help. He did not give anything to his elder brother. His father will pass on all his fortune to his elder brother, and there was no reason for his elder brother to ask him for shares or money.
Fu Guangzheng was meeting up with Feng Yu to discuss the number of restaurants they were buying and how will they split the shares.
Feng Yu had said that he had paid a heavy price to invest in Quanjude and he wants the more significant share of these restaurants. Of course, he will also be spending more money.
Fu Guangzheng does not mind. It was not as if he owns these restaurants, he could invest in Quanjude. Also, he still wants to maintain a good relationship with Feng Yu.
If Fu Guangzheng intercepted Feng Yu after hearing his plans and went ahead to invest in Quanjude alone, Feng Yu would be pissed. The last time Feng Yu got pissed, Fu Guangzheng’s father suffered massive losses. Being friends with Feng Yu was better, as Feng Yu would include him in for investment opportunities.
Just the recent Gold Futures trade. Gold prices had increased to 391 USD after hovering at 380 USD for a few days.
His uncles had sold some of their futures contracts at 385 USD. As the prices continued to rise, they slowly sell off their gold. But the highest amount they sold was at 387 USD.
Fu Guangzheng’s father was the only one who sold off his gold contracts at 390 USD. The percentage of his returns was the highest.
The past 1 month, Fu Guangzheng’s father had increased his returns by several times. If he were able to do this once a year, he would not do anything else!
Of course, Fu Guangzheng’s father knew that this was a rare opportunity. Feng Yu had also said that the gold prices will fluctuate aggressively after 1994. Even his own company will avoid trading in Gold Futures.
Fu Guangzheng’s rule of thumb now was to follow Feng Yu in everything he does!
After the discussions, Feng Yu and Fu Guangzheng settled the shares proportion at 3:7. Feng Yu will come out with 70% of the money and Fu Guangzheng 30%. After they had successfully invested in Quanjude Company, Feng Yu would not care if Fu Guangzheng was able to obtain more of the company’s shares.
Feng Yu did not ask Fu Guangzheng about the price for asking his family to help him buy over those restaurants. Feng Yu did not ask, and Fu Guangzheng also did not tell him. Fu Guangzheng had to make some contributions on his part for getting this opportunity from Feng Yu.
In the past, Feng Yu had asked Fu Guangzheng along in his investments in other companies, was because Fu Guangzheng will send his people to manage those companies. Now it was also the same. Feng Yu needs the Fu Family’s connections. If it were for money, Feng Yu would not look for him. Feng Yu does not lack money.
Fu Guangzheng did not care about the rest of the work. He returned to China to focus on Tai Hua Supermarket Enterprise. The task of buying restaurants was handled over to the rest of the Fu Family members.
3 days later, Fu Rongqi purchased a restaurant. He successfully bought a restaurant in Central, Hong Kong. This was a Shandong cuisine restaurant. It was not extremely popular, but it was located in a good location. Most importantly, this restaurant was big, and the area had high traffic.
Many people do not understand why Fu Rongqi bought this restaurant. They heard that he had paid a high price for this restaurant. They estimate that Fu Rongqi will take more than 5 years to get back his investment. Although this restaurant will not make any losses, the rate of return was too low. This was not in line with Fu Rongqi’s usual practice.
Who was Fu Rongqi? Hong Kong’s top investor in the financial market. Over the past few years, he had made his fortune from the financial market. Why did he buy a restaurant suddenly?
Some tabloids start to make up stories. They reported that Fu Rongqi had dined at that restaurant and had an argument with the restaurant manager. In a fit of anger, he bought the restaurant and fired that manager!
Buying a restaurant just to sack a manager? People love to read these rumors.
But before this news was settled, another newspaper reported that Fu Rongqu had bought a restaurant in Macau. The restaurant was located opposite the most popular Casino there. This was a Cantonese restaurant.
Everybody was puzzled. Fu Rongqu should not also have some conflicts with the manager of another restaurant. The Fu Family have issues with all restaurant managers?
But people remembered that Fu Rongqu was into properties. He must have bought that restaurant for investment.
But there were others that do not believe this purchase was for investment. This was a good location, but Fu Rongqu did not rent out this restaurant. Could it be that he wants to run a restaurant himself?
The Fu Family brothers had gone crazy, or was the Fu Family entering the F&B business? Even if they were going into the F&B business, they do not need to use high prices to buy out other people’s restaurants.
Fu Rongqi and Fu Rongqu had gone crazy?
But before they finish talking about this news, someone said that Fu Rongbing was negotiating to take over a restaurant located in Taiwan. The negotiations were almost completed.
Everyone was confused. Even the third brother of the Fu Family was going into the restaurant business? What happened to the Fu Family? Did they suffer from a curse or something? A curse that will kill them if they do not set up a restaurant?
People’s attention turned to the youngest brother of the Fu Family, Fu Rongjing. People wanted to know if the youngest brother of the Fu Family was also going to set up a restaurant.
In the end, they found out that Fu Rongjing had gone to Malaysia. Fu Rongqi and Fu Rongqu’s sons had gone to Singapore.
Why were they heading to other countries? To buy restaurants!
Even if the Fu Family were to enter the F&B industry, they should start from small. No one would buy restaurants like them. Some people knew that the Fu Family had made some money from Gold future, but this was not the right way to spend their money.
Even the other Tycoons does not understand what the Fu family were up to, let alone those commoners. All of them had the same thing in their minds. Which is…… The whole Fu Family had gone crazy!