Rebirth 2004: I can make money by writing.

Director Huang Shi said nothing more and immediately called the relevant departments, demanding that they provide statistical data within two days.

Seeing that Huang Shichang was so tactful, Hao Qiang smiled secretly in his heart.

Hao Qiang really feels uneasy about government affairs.

He thought to himself, if he let them discuss it slowly, who knows how long it would take.

Hao Qiang believes that after this incident, his reputation will reach an unprecedented height.

At that time, there will definitely be people speculating whether he is a reborn person.

But these are easy to explain: he has always attached great importance to education, and happened to be traveling in Chengdu. When he saw the dilapidated primary school building on the road, he suddenly decided to donate.

In order to reduce speculation, he plans to donate to other regions in addition to western Sichuan.

In fact, at Hao Qiang's social level, he wouldn't care about what others speculate, and people above him wouldn't believe it either.

Even if you truly believe that he is reborn, how dare you force him to confess anything?

(This matter cannot be written, nor should it be discussed further, so let’s stop here.)

A week later,

Hao Qiang left Chengdu with satisfaction and returned to Yuecheng.

He noticed that Tengxun's stock price had fallen to HK$67 and was glad that he cashed out in time.

Moutai's stock price remains strong at around 830 yuan, and has reached a high of 865 yuan.

However, these have nothing to do with Hao Qiang.

He then communicated with Guosen Securities Hong Kong City Branch to discuss the possibility of entrusting the operation of US stock margin trading.

There are relatively few domestic stock margin lending businesses, while the U.S. stock margin lending market is large in scale and has active trading.

Afterwards, Hao Qiang also inquired about the leverage situation of short selling in the US stock market.

I learned that there's no fixed margin leverage ratio for securities lending. It's typically agreed upon at account opening based on the client's creditworthiness, or unconventional margin leverage ratios may be offered on a temporary basis under specific circumstances. Furthermore, for clients offering margin lending, brokerages implement strict risk management, including early warning ratios and liquidation thresholds, to prevent uncontrollable risks associated with excessive leverage.

The actual situation is that historically, before the subprime mortgage crisis, the margin lending leverage of U.S. stocks was very large and the margin lending cost was low, which led to the entire market being one-sidedly shorted when some negative news occasionally came out, and stocks continued to plummet.

In 2009, Citigroup was shorted by institutions for a month straight, and its stock price fell below $1 and it was almost delisted.

To prevent Citigroup from collapsing, the government injected a total of US$45 billion into the bank in October and November 2008.

In February 2009, the government stepped in again and converted preferred shares into common shares.

After the subprime mortgage crisis, the government noticed this problem and successively introduced a number of policies to restrict short selling, including stipulating that the maximum leverage of securities lending shall not exceed 200% and that short selling is prohibited during a downtick trend of stocks.

In other words, short selling leverage is now possible.

Of course, the risk is also great. If the leverage is high, it is easy to get liquidated.

However, the leverage ratio is also limited, and it is impossible to open it to more than dozens of times, as this is not futures.

If it is futures, how can you play it without big leverage?

It is impossible for Hao Qiang himself to go to the Ugly Country and borrow securities under his own identity. He is also afraid that he will not be able to come back after going there, especially after making a profit from shorting other people's stocks.

Therefore, given his current situation and capital, it would be best for him to cooperate with a domestic securities company and entrust the operation to others.

Securities companies have a wide range of business, and they also engage in entrusted securities lending.

October 12th, Thursday.

Hao Qiang went to Gangcheng in person, and Huang Qi, general manager of Guosen Securities Gangcheng Branch, personally welcomed him.

Today, Hao Qiang holds tens of billions of funds, which is even larger than the capital assets of ordinary securities companies.

Of course, the client assets managed by securities companies are very large, so it is not difficult to operate more than one billion US dollars in foreign exchange for Hao Qiang.

"Welcome Mr. Hao to Gangcheng," Huang Qi said with emotion, "Mr. Hao has a unique vision. We have made a lot of money in the past year."

Hao Qiang's purchase and cashing out of Moutai and Tengxun stocks were all entrusted to their securities company team, and Huang Qi was well aware of Hao Qiang's profit situation.

When the two first met in November last year, Hao Qiang's net worth was only tens of billions of yuan, a stark difference from today.

It was also at that time that Hao Qiang financed their company with 25 billion yuan at an annual interest rate of 8.8%.

Guosen Securities thus earned nearly 200 million yuan in interest income. After deducting the interest cost of customer funds, the company made a considerable profit.

"It's just luck." Hao Qiang smiled calmly, "This trip is mainly to discuss cooperation with Mr. Huang."

"Mr. Hao, are you planning to short sell U.S. stocks?" Huang Qi asked, recalling Hao Qiang's previous consultation.

"Exactly!" Hao Qiang nodded. "The plan is to start in June next year and last until June 2009, for a period of one year.

I am planning to allocate 100 billion yuan to conduct margin trading in your company's name."

"Of course, no problem. Thank you Mr. Hao for choosing our company."

Afterwards, the two discussed the relevant details in depth.

Hao Qiang is not disclosing the specific stocks to be short-sold for now, and plans to implement it in June next year.

Considering the huge amount of funds, it takes time to plan to convert 10 billion yuan into more than 1 billion US dollars.

The preliminary arrangement is that before the end of May next year, Hao Qiang will transfer 10 billion yuan to Guosen Securities, and his company will be responsible for the foreign exchange.

Guosen Securities will conduct leveraged securities lending with overseas financial institutions in the name of the company, in accordance with the stocks, price range and time points specified by Hao Qiang.

The company only charges handling fees and management fees and does not bear investment risks.

Of course, the interest on securities lending is also paid from this fund.

Ten billion yuan is approximately equal to 13.8 billion U.S. dollars. For example, if you plan to put up 10 billion U.S. dollars as a margin and 3.8 million U.S. dollars as risk capital, you can borrow stocks worth 50 billion U.S. dollars.

Generally speaking, the annual interest rate for short selling of U.S. stocks is between 6% and 10%.

If the securities are borrowed for half a year, the interest calculated at an average rate of 8% will be approximately US$2 million, which will be paid to overseas financial institutions, not Guosen Securities.

Of course, Guosen Securities can also join hands with other securities companies to raise funds for Hao Qiang and charge interest, but the leverage ratio must reach what Hao Qiang wants.

With his 13.8 billion US dollars, he only raised 2 billion US dollars. Hao Qiang must think it is not enough.

In fact, the leverage of regular securities firms is margin trading, which is just twice as much, which cannot meet what Hao Qiang wants.

If Huang Qi violates the rules, he will be punished.

Assuming that the company ultimately repurchases shares for $20 billion, the profit margin will be approximately $30 billion.

After deducting interest and transaction costs, net profit is expected to be approximately $27 billion.

In view of the long operation cycle and complex process, based on the scale of 10 billion yuan, the basic management fee is set at 100 million yuan, which is within the acceptable range for Hao Qiang.

In addition to the basic management fee, there is also performance commission, which is the big part. Hao Qiang and Huang Qi negotiated it to 5%.

If it were any more, Hao Qiang would not be willing to do it, after all, the scale of his funds was not small.

If the scale of funds was larger, Hao Qiang would simply set up a financial company, which would be more cost-effective, but the performance commission would still have to be given to employees, just not as much.

However, to conduct international securities lending business, the company must have a certain degree of international fame and credibility and be able to conduct securities lending with overseas financial institutions; otherwise, it will be a fool's errand.

Hao Qiang's investment this time is also a gamble. Even if he loses money, it won't be much.

These were the main contents and costs he discussed with Huang Qi, but there were actually quite a few more details.

After Hao Qiang confirmed this, he left Gangcheng as the group still had a lot of things to deal with.

Construction has already started in Chengdu, and he donated 2 million yuan in the name of the group.