Chapter 16: Cheng Family
“Bankruptcy” The two brothers were a little stunned.
“Dad, has it come to this” Cheng Zitong asked.
Cheng Zihao said anxiously, “Dad, the virtual glasses back then dealt a major blow to many online companies. The Tiger Shark Group suffered the impact, but it eventually became stronger. If the virtual world cant defeat us, this will give us an opportunity to infiltrate the virtual world.”
“Theres no chance.” The aged Cheng Liwei shook his head gently. “Its different from the virtual glasses last time. Back then, the tech first appeared before it was licensed to many companies… There was a period when nothing was happening, so we could make preparations. But this time, the Earth Alliance released the VR headsets almost immediately. The virtual world is open to everyone, and it has completely crashed the Internet market.
“Shares in the company have been plummeting for the past month or so, and it crashed after the press conference. Although the company has temporarily suspended trading, it will plummet again once the suspension is lifted. Our market capitalization will fall below one trillion,” Cheng Liwei said calmly. “Many banks have frozen the family trusts assets and requested that we pay them back in advance.”
“Our market capitalization will drop below one trillion” Cheng Zitong and Cheng Zihao knew that the situation wasnt good.
“The family trust owns 8.2% of the groups shares, which is less than 100 billion. How does it make it insolvent” Cheng Zitong asked. “Dad, what about the other investments in the family trust”
“Our family is in the Internet industry, and our family trust mostly invests in the Internet industry. Under this impact, most of the valuations will be at a 20-30% discount, and some will die,” Cheng Liwei said. “The family trust originally had 900 billion yuan in assets, with a debt of 300 billion. It was very safe, but these assets now… are probably worth less than 200 billion yuan.”
“That little” Cheng Zihao was dumbfounded.
His good days were all thanks to his family trust and the Tiger Shark Group under his familys control.
“Theres nothing we can do about it. The appearance of the virtual world isnt something that we mere mortals can resist.” Cheng Liwei shook his head and smiled. “Funnily, I didnt hear anything about such a major development. Its obvious that the Earth Alliance doesnt care about the life and death of the Internet companies.”
“The Tiger Shark Group wont die. After all, our balance sheet is still very good,” Cheng Zitong said. “However, our familys 8.2% shares will probably be acquired by the bank soon.”
“Dont worry. Your assets are completely isolated from our family trusts assets.” Cheng Liwei looked at his two sons. “As the family trusts manager, I have to pay the price. However, the two of you are unaffected. You two should keep a low profile in the future. After all, the Cheng family will be very mediocre without the Tiger Shark Group.”
Cheng Zitong and Cheng Zihao fell silent.
“Its gone Its all gone” Cheng Zihaos body trembled slightly as he looked at his father. “Dad, youve given Brother five billion over the years, right However, youve only given me two billion. Its unfair.”
“Zihao, this was all done according to the family trusts rules,” Cheng Zitong said.
“Dad, thats unfair.” Cheng Zihao looked at his father.
“Unfair” Cheng Liwei looked at him. “First, your brother is older than you. The family trust disburses its first sum of money when you reach 22. It is then handed out annually. Youre young, so who can you blame for getting less Second, the stronger the investment and management ability, the more the family trust will increase. Who can you blame if your investment ability is inferior to your brothers Third, I was the one who wiped your ass for the shortfall you created. Billions were thrown in to fill the gap, and I even owed people favors! How did I let you down”
“But I have nothing!” Cheng Zihao looked at his father.
“Im already bankrupt. What more do you want” Cheng Liwei pointed at the door. “Get lost!”
Cheng Zihao looked at his father with red eyes.
“Get lost!” Cheng Liwei continued pointing at the door.
Cheng Zihao turned and left, leaving only Cheng Liwei and his eldest son—Cheng Zitong—in the office.
“Dad, Zihao is panicking,” Cheng Zitong whispered. “Although youve given him two billion over the years, hes not good at investing. He probably doesnt have much left. Hes panicking because he knows that he wont get any more in the future.”
“Keep this in mind.” Cheng Liwei looked at his eldest son, Cheng Zitong. “From today onward, dont give your brother a single cent!”
Cheng Zitong was stunned. “Then, what if he starves to death on the streets”
“Let him starve then!” Cheng Liwei said coldly. “Our Cheng family is no longer the Cheng family of the past; we cant afford to lose anymore!”
“Yes, I understand,” Cheng Zitong said.
In Cheng Zihaos office.
Bam! Bam! Bam!
Cheng Zihao frantically smashed everything in the office that he could find.
“Old man, youre ruthless!” Cheng Zihao could only grit his teeth. Then, he gently touched his watch and said through gritted teeth, “Get the hell to my office—NOW!”
Ten minutes later, a middle-aged man with slightly moist hair came to the office. He immediately said, “Boss, I was in the virtual world. I rushed over as soon as I received your message.”
“Spill it. How much money are the companies I invested in worth” Cheng Zihao asked.
“Theres still more than 120 million in cash,” the middle-aged man immediately said. “The rest are investments in different sectors.”
“How much are those investments worth” Cheng Zihao asked.
“Many of these investments are angel investments; theres no way to pull out the funds anytime soon,” the middle-aged man said. “Some investments in the Internet industry might go to zero. The virtual worlds impact is too great.”
“What Im asking is: how much can the investments—ones that can be sold or mortgaged—be liquidated for” Cheng Zihao asked.
“100 million,” the middle-aged man said after some thought. “Barely.”
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“I invested 500 million, and thats all thats left” Cheng Zihao was unwilling to accept it.
“The Internet industry is in terrible shape these days,” the middle-aged man said helplessly. “Also, our three companies contracted many people and have so many employees. The monthly expenses are about 20 million; our cash can only last for about half a year.”
“It can only be maintained for half a year” Cheng Zihao murmured, his lips turning white.
“Thankfully, the big hole in the balance sheets was resolved by the chairman. The company is stable for the time being,” the middle-aged man said. “The last time the hole was filled, the chairman said that you arent allowed to take external loans.”
“I dont want to hear about him.” Cheng Zihao sat in the chair and wrapped his hands over his head. “Get lost. I need to think about it.”
“Yes, Boss.” The middle-aged man left obediently.
My cash can only last half a year The family trust is goneCheng Zihaos eyes were bloodshot as he subconsciously pulled his hair.What do I do What do I do
In the virtual world.
Xu Jingming had guessed that the Cheng family would suffer, but he wasnt in the mood to pay attention to them. He was currently in themartial arts arena in his personal space, experiencing the training functions of themartial arts arena.
The martial arts arena was located in a canyon with verdant mountains and flowing waters.
Three bandits attacked Xu Jingming from three directions.
Xu Jingming held a spear and waited calmly. When the bandits were 30 feet away, he immediately rushed to the right, straight for the saberman on the right.
“Die.” The bandit grinned and pounced over.
The spear in Xu Jingmings hand moved like a venomous snake leaving its hole—the speartip poked the bandits neck before retracting.
The bandits neck was penetrated, and he immediately dissipated. The two remaining bandits showed no fear and lunged over.
Xu Jingming only took a step back and tapped the speartip twice.
The two bandits suffered a strike to their hearts and glabella respectively; they then turned ethereal and dissipated.
Sparring partners with a basic combat strength of 800 are indeed relatively weak. They only allow me to familiarize myself with my spearmanship.Xu Jingming didnt find it difficult at all.
His finger on distance and reaction time made his spearmanship seem like an art. He easily killed the virtual sparring partners in the martial arts arena.
“Huh” Xu Jingming tapped gently and saw a stocky middle-aged man looking over from the distant martial arts arena. The stocky mans eyes were like those of a tiger, and he had a terrifying aura.
“Master” Xu Jingming was a little uncertain.
“Hahaha, are you surprised to see me become young” Liu Hai laughed.
“Congratulations, Master. The global martial arts world has guessed over the years that if you joined the World Martial Arts Tournament at the age of 30, you would probably be the greatest at the World Martial Arts Tournament. Now that humans are evolving, you can give everyone an answer,” Xu Jingming said with anticipation.
Liu Hai was a legendary figure worldwide. At the age of 45—an age considered very old in the martial arts world—he was in a much worse state than when he was in his twenties. Liu Hai entered the top three for five consecutive tournaments since he was 45, and he even became world champion on his final showing.
How strong was he at his peak This had always been a guess.
“Whats in the past is nothing,” Liu Hai said with a smile. “Jingming, there are only slightly more than 20,000 professional gladiators registered globally in the 30 years of professional martial arts competitions. Seven billion people are competing with more than 20,000 people! They wont be injured or get tired in the virtual world. They can choose any sparring partner and engage in life-and-death combat. Their growth will be more than ten times faster than our training in reality.”
“Professional gladiators like us still have an advantage for a month or two. Half a year! In half a year… professional gladiators like us will be completely overtaken.” Liu Hai looked at Xu Jingming. “But this is already the era thats most suitable for us gladiators! There has never been an era with so many gladiators.”
“Yes.” Xu Jingming nodded. Everyone around the world was mastering this. When had weaponry combat ever been so popular
“We have a good foundation to begin with. If we seize the opportunity, we can succeed!” Liu Hai looked at Xu Jingming. “Jingming, dont let down this era.”
“Yeah.” Xu Jingmings blood boiled. He also wanted to make a name for himself in this era.
“Oh right, have you reached Divine” Liu Hai asked.