Not long after hanging up the phone.

News arrived from 5s Asset Management, saying that a major client recently needed money and wanted to redeem the money they had invested in the fund in advance, totaling as much as ten billion RMB.

The other party was a listed pig farming company, and its financial situation was not abnormal.

Saying they needed money was undoubtedly more like an excuse, not optimistic about 5s Asset Management's future performance.

Coincidentally, it hadn't been more than three months since the other party bought in, the company's senior executives really had no reason to refuse the listed company's redemption, so they wanted Su Yehao to think of a way.

The asset size of this major client was equivalent to hundreds of thousands of ordinary open-ended public fund clients.

The senior executives of 5s Asset Management inevitably felt heartache. Such super-large clients were rare in the entire company, and of course it was worth trying to win them over as much as possible.

5s Asset Management had just taken shape, and the situation was excellent.

Unexpectedly, it unexpectedly ran into a bear market. Su Yehao could only say that he hadn't caught up with a good time. He had moved too quickly before and hadn't anticipated that there would also be a stock market crash in 2001.

He had heard about the subprime mortgage crisis in 2008 and the circuit breaker stock market crash in 2015, but he didn't know enough about the situation in 2001. His eyes were only focused on the benefits of joining the WTO, and he ignored the bubble in the mainland stock market.

At this moment.

Su Yehao was walking in his garden, using his mobile phone to communicate with Vice President Sun, who had transferred from CITIC Group, and said calmly:

"In the past, people invested in us because they valued the prospects of the private equity investment industry. Now asset values are generally inflated. It is normal for the company that makes ham sausages not to be optimistic about us. To put it bluntly, our private equity fund now lacks a selling point to attract customers. It's useless to just talk about bottom-fishing without proof. You stabilize them first, and I'll think of a way."

"That's right, President Su, your point of view is incisive. In the past, they felt that after the invested projects were financed and listed, there was a chance to earn several times the profit. Now, I don't know when the stock market will fall. Once this ten billion RMB is withdrawn, it will be difficult to cooperate again next time. I almost drank myself into a stomach ulcer when I accompanied their major shareholders to drink, and it was only with great difficulty that I signed this deal."

Vice President Sun had been in the industry for so many years, how could he not see the current situation clearly?

He was worried that the news of this ten billion withdrawal would spread, and other major clients would also have opinions, once again causing a new round of redemption frenzy.

Su Yehao continued to walk in the garden, considering what he should use as a selling point to whet the appetite of these corporate clients.

At first, he thought of the concept of mobile terminal products.

Immediately afterwards, he felt that it was still a bit far away for the time being. If he directly confronted companies such as Nokia and Motorola, they would only withdraw faster.

If he took out the Black Diamond mobile phone as a financing project, Su Yehao would be a little reluctant, and besides, the Black Diamond mobile phone was not making money for the time being.

In addition to this, he also thought of real estate projects.

However, with the current level of economic income, the price of several thousand RMB per square meter in first-tier cities seems a bit inflated.

Even if Su Yehao personally released the news, saying that some core locations could rise to 100,000 RMB per square meter, who would be willing to believe it?

After thinking about it, he suddenly thought of the casino business that Zhao Yimeng had just mentioned.

Su Yehao himself didn't care much about the casino business, but it was still quite attractive in the eyes of others. If he used the funds of mainland investors to win a gambling license, he could not only prevent Las Vegas capital from coming to Casino to make money, but also help 5s Asset Management overcome the current difficulties. It seemed worth a try.

Thinking of this, he suddenly asked Vice President Sun:

"You know about Casino's plan to auction off six gambling licenses, right? If we think of a way, can we let these major clients indirectly hold part of the casino business?"

"...I know, are you planning to invest in the casino business through 5s Asset Management?"

Vice President Sun's tone was full of surprise. After a moment of pause to digest it, he continued:

"There are a lot of issues involved here, but 5s Asset Management itself is strictly speaking a Sino-foreign joint venture registered in Hong Kong, but its business is conducted through a subsidiary opened in the mainland. I need to ask experts in this field to give you an accurate answer. If it can really be done, the major clients will definitely be smiling from ear to ear. They like these businesses that cannot be carried out in the mainland the most."

Su Yehao gave a hmm and added:

"Also say hello to the China Securities Regulatory Commission. Remember to remind them that it integrates shopping, hotels, and cultural tourism, and the casino is just...incidental? At worst, we can go around a few more turns and sign an agreement or something. I'll register a shell company first to get the gambling license, let mainland companies hold shares, and then finance this mainland company."

"Okay, okay, okay! I'll go and ask clearly now!"

……

It took Vice President Sun more than two hours to ask this question.

After he called back, Su Yehao learned that it was particularly troublesome. It was almost impossible to directly use the funds of mainland investors to participate in the gambling license auction.

But it was possible to use a shell company and then let the two companies merge and reorganize in a Sino-foreign joint venture, but in this way there would be more things to do. Su Yehao would have to pay out of his own pocket to complete the preliminary preparations, so it would be better to raise money separately from the major clients, bypass the supervision of the fund company, and then invest later.

There was also another way to find a gaming company listed on the Hong Kong stock market to cooperate, open a company in the mainland, and indirectly hold shares through financing.

Anyway, after seven or eight turns, Su Yehao was confused. He simply made a rare initiative to call acquaintances in Si Jiucheng and asked them if they could think of a way.

After another long wait, an acquaintance called and said that there were already regulations prohibiting mainland companies from participating in Casino's gaming industry, and even prohibiting Chinese-funded enterprises outside the country from participating in Casino's gaming industry, but if Qdii-type funds held shares in listed gaming companies, there was no explicit regulation saying it was not allowed.

There was no explicit regulation saying it was not allowed, which meant it could be invested in.

Su Yehao was thoughtful after listening, and finally realized that he had been stuck in a rut before, always thinking about investing abroad through private equity funds. In fact, Qdii funds could invest in Hong Kong.

If he could get more quota, he could indirectly hold shares.

This finally made him feel at ease, and he called Vice President Sun again to talk about investing abroad through Qdii.

The problem was that the ownership of the gambling license had not yet been settled, there were no investable gaming companies listed on the Hong Kong stock market, and the Qdii fund was only in the pilot stage, and the quota was not enough.

He was thinking that maybe in two or three years, the policy would have new changes, allowing private equity funds to directly carry out foreign investment.

Therefore.

Su Yehao only asked Vice President Sun to say hello to the major clients, saying that he would first carry out real estate development business in Casino, and then try to hold some shares in gaming companies. If he really couldn't keep the ten billion RMB, then he could only forget about it for the time being.

After Vice President Sun asked, saying that part of the funds could be invested in Casino, the major clients were indeed particularly interested.

Since Casino was issuing new gambling licenses, the real estate industry was likely to rise.

The previous decision to withdraw capital was because there was no reason to stay. Now that they knew that Su Yehao planned to lay out the real estate and gaming industries in Casino, the situation was different again...