Chapter 334: A Huge Profit
Chapter 334: A Huge Profit
On October 1st, Lu Jiaxin paid a visit to Wu Ziyu at noon. As agreed, Wu Ziyu had already sold off all the previous purchases.
With an initial investment of 30 million Green Dollars and a 30 times leverage, the exchange rate had dropped by 10.5% since the purchase, resulting in a profit of 94.5 million Green Dollars. Including the principal, the total amount came to 124.5 million Green Dollars. With the current financial tax rate in Hong Kong City at 10%, along with other fees and commissions, the final amount stood at 110 million Green Dollars.
The profit exceeded Lu Jiaxin's expectations. She instructed, "Manager Wu, I want to continue buying. One hundred million Green Dollars this time, with a tenfold leverage."
Both parties had signed a letter of intent, leaving Wu Ziyu with no choice but to agree. He promptly signed the contract with Lu Jiaxin and said, "Miss Lu, if there are similar opportunities in the future, we can definitely collaborate. In business, it's beneficial for all parties to gain, don't you agree?"
Lu Jiaxin understood the implication behind his words and nodded with a smile. "I based my decision on information from multiple sources and my own deductions. It might not be this accurate next time. If you don't find my approach too aggressive, I'd also like to explore deeper cooperation with your company in the future."
Wu Ziyu recalled his initial reaction to Lu Jiaxin's request for such a high-leverage short position, which he had indeed found aggressive at the time. But now, he perceived her as someone who knew exactly what she was doing.
After concluding the matter, Lu Jiaxin left with ten thousand Green Dollars. Not only were Green Dollars popular in the mainland, but they were also sought-after in Hong Kong City and other countries. The currency had become a hard currency.
Lu Jiaxin gave Gu Wenfeng one thousand Green Dollars, instructing him, "Find a private investigator to keep an eye on He's Jewelry. Inform me immediately if there are any issues."
Currently, the fixed exchange rate between Green Dollars and Hong Kong Dollars was 1:7.8, so one thousand Green Dollars was equivalent to seventy-eight thousand Hong Kong Dollars, which was a significant sum in Hong Kong City, where the average salary was only three to four thousand dollars.
"Okay," Gu Wenfeng agreed.
On Friday, after school, Lu Jiaxin returned to the villa and called He Bin. "Mr. He, it's me, Lu Jiaxin. I have something I'd like to trouble you with."
"Are you free tomorrow? Great, let's meet and discuss it then," He Bin replied.
The next day, He Bin arrived promptly after nine o'clock. He was dressed in a crisp gray suit with a slicked-back hairstyle, a stark contrast to his previous appearance at Gu Xiuwu's residence, which had been more in line with the older generation's style.
Lu Jiaxin smiled and commented, "It's been a while, Mr. He, and you seem more energetic than ever."
He Bin humbly dismissed the compliment. "Miss Lu, what can I do for you?"
Lu Jiaxin explained her request—she wanted to engage his services to purchase two residences in Si Jiucheng, one large and one small. "For the larger residence, I'd like a two-section house with a backyard garden if possible, but it's not a deal-breaker if it doesn't have one. As for the smaller one, a single-section house without a backyard will suffice. Both residences should be located within the same hutong, preferably in a convenient and desirable location."
He Bin's excellent choice of the five-section mansion for Gu Xiuwu had left a deep impression on Lu Jiaxin, and she was confident that he would be able to find residences that met her requirements.
He Bin asked, "Miss Lu, may I ask who will be occupying these residences?"
Previously, when he had been managing Gu Xiuwu's businesses, his monthly income had been substantial. However, with He Zhuliang selling off those businesses, his workload and income had decreased by two-thirds.
Lu Jiaxin replied, "The two-section house will be for my eldest brother's family. Including the elderly and children, there are eight people in total, so they need a larger space. As for the single-section house, it will be for my father, who lives alone, so that should be more than enough for him."
"Miss Lu, what's your budget for these residences?" He Bin inquired.
Having made a substantial profit from the foreign exchange market, Lu Jiaxin was no longer as constrained financially as she had been before. "As long as the residences meet the requirements I've mentioned, price is not an issue," she assured him.
He Bin was astonished. He knew that Lu Jiaxin had been frugal with her spending when she had first arrived in Hong Kong City. Now, she was being so generous; had she come into a fortune?
Lu Jiaxin gestured to Zhang Sining and introduced her, "This is my private secretary. She hasn't been to the mainland before. Mr. He, I hope you can take her with you this time and help her get familiar with the place."
Since Lu Jiaxin was covering all the expenses, He Bin naturally had no objections. "Miss Lu, there are many antiques in Si Jiucheng, and I know you like calligraphy and porcelain. If you trust me, I can help you acquire some fine pieces."
He had always felt that Lu Jiaxin was no ordinary person, but his own status had prevented him from getting too close to her, lest Grandma misunderstand. He never expected that in just over a year, she would have come so far. Now that he had nothing holding him back, he wanted to take a gamble! If he won, he would have a powerful backer, and if he lost, he wouldn't suffer any losses.
Lu Jiaxin had a good impression of him. He had professionalism and a sense of propriety, and most importantly, he was adept at socializing and had great people skills. "I do like calligraphy and porcelain, but these items are hard to authenticate and it's easy to be deceived."
He Bin assured her that he would engage experts to appraise the items and guarantee their authenticity.
Lu Jiaxin smiled and said, "If we come across any rare treasures, we'll acquire them. If they're ordinary, then we'll pass. Mr. He, after the house is purchased, I have another important matter that I'd like to trouble you with."
Zhang Sining suddenly felt a sense of crisis. These matters should have been handled by her as Lu Jiaxin's private secretary, but because of her lack of familiarity with the mainland, her boss had turned to Mr. He. She felt that she needed to improve herself quickly. Learning the language was not enough; on this trip to Si Jiucheng, she needed to get acquainted with the local environment as soon as possible.
He Bin was thinking of attaching himself to Zhang Sining, so he was naturally eager to have more opportunities to work with her.
In the afternoon, Nie Zhan arrived to take Lu Jiaxin out for Italian food.
Seeing his satisfied expression, Lu Jiaxin smiled and asked, "You made quite a profit this time, didn't you? Let me guess, did you make 30 million Green Dollars?"
Nie Zhan held her hand, his face beaming as he said, "Not that much. I made a little over 20 million. Jiaxin, what do you want? I'll buy it for you."
"How much capital did you start with?"
"50 million in capital, with a five-fold leverage."
Lu Jiaxin couldn't help but feel envious. She had been able to make that profit because she had acted early, but Nie Zhan had achieved it through his connections and intelligence. Sigh, it was true that the rich got richer, and the poor got poorer.
"So, you've sold off all your holdings now?"
Nie Zhan smiled and said, "I've sold off my holdings in Hong Kong City, but I'm continuing to buy in New York. I think the Japanese Yen will keep rising, but the increase won't be as drastic."
Lu Jiaxin thought to herself that this time, his speculation was wrong. The Green Dollar//Yen exchange rate would fall from its highest point of 1:240 to around 1:120 within two years, and then continue to drop, reaching a low of 1:80. So, she would treat this as a long-term investment, but she wouldn't be as aggressive as she had been in the past.
Nie Zhan said, "I mentioned last time that I wanted to buy you jewelry. I've been busy these days and haven't had time to take you shopping. Tomorrow, I'll accompany you to buy some."
Lu Jiaxin refused, saying, "It's been a while since I've exercised. Let's go play tennis tomorrow."
Nie Zhan insisted this time, "Let's go shopping first, and then we can play tennis. Jiaxin, Feng Qinglei keeps saying that I'm stingy. I've only given you a car during our time together, so let me show you that I can be generous too."
Lu Jiaxin agreed with a smile.
(End of Chapter)
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