Reborn in Hong Kong as a Tycoon

Chapter 195 Yum Fund
In the afternoon, Lin Baicheng came to Yum Securities.

The Hutchison Whampoa shares bought with 20 million Hong Kong dollars raised from Galaxy Games and other companies were all sold in the morning. Although they started selling after the stock price exceeded 24 Hong Kong dollars, because the stock price rose relatively quickly later, So the average selling price was 2780 Hong Kong dollars, and the 6.672 million shares were sold for a total of 6.67 million Hong Kong dollars, which is about [-] million Hong Kong dollars after deducting the handling fee.

Generally speaking, stock trading and futures trading do not need to pay taxes, and only need to pay a certain handling fee.

However, once you make money through the stock and futures markets, you must pay profit tax, which is the same as the tax on corporate profits, and the tax to be paid on financial investment is even higher than the tax to be paid on normal business operations be taller.

In Xiangjiang, the income tax on financial investment profits is 10%. Although it is not a lot, it is much less than that in the United States.

That is to say, this time the stock was sold for a total of 6.67 million Hong Kong dollars, with a cost of 1 million Hong Kong dollars, a profit of 5.67 million Hong Kong dollars, a tax of 5670 million Hong Kong dollars, and a final profit of 5.103 million Hong Kong dollars.

However, it is true that there are so many taxes to be paid, but the taxes will not be paid immediately. The 5670 million Hong Kong dollars in taxes that need to be paid will be placed in Yum!

As for the 5.103 million Hong Kong dollars that can be used freely, they are distributed to companies such as Galaxy Games.Star Cinema received 1.5 million Hong Kong dollars, Jupiter Toys received 2000 million Hong Kong dollars, Asia Television received 5000 million Hong Kong dollars, and the rest went to Galaxy Games.

The 1.5 million Hong Kong dollars of Star Cinemas is enough to pull up a theater chain all over Hong Kong. This is because the cinemas of Star Cinemas are multi-screen theaters with many screens, and the theater area will be larger than other cinemas. It doesn't cost that much.

The shares repurchased by Hutchison Whampoa were also sold. The 1700 million shares were sold for a total of 4.1 million Hong Kong dollars, with a profit of 3.1 million Hong Kong dollars, and 1000 million shares in the company.However, the tax here will be deducted from the company's investment in the year at the end of the year. If the calculation shows that the profit this year is only 1 million Hong Kong dollars or 2 million Hong Kong dollars, then only the tax on this part of the profit needs to be paid.

For the 4.1 million Hong Kong dollars recovered by Hutchison Whampoa, Lin Baicheng asked Wei Li to invest in the real estate industry and retail industry. Renting or not selling, in this way, the profit will be limited, and the company will not make much money in the year, so naturally it will not have to pay too much tax.

This time when he came to Yum Securities, in addition to approving the transfer of more than 6 million Hong Kong dollars in the cost and profit of stock trading, Lin Baicheng also wanted to know about the establishment of the fund.

During the two days of the weekend, An Yuan had already found out clearly.

Before his rebirth, Lin Baicheng also bought a fund for two years. Although he didn't make any money, he still knew the limitations of the fund at that time.

First of all, the types of funds are divided into mutual funds, hedge funds, and futures investment funds. Different types of funds have investment scope restrictions.To be more specific, taking mutual funds as an example, they can be subdivided into four types: stock funds, bond funds, hybrid funds, and monetary funds, which are relatively conservative and stable in operation.

Take the stock fund that is most familiar to the public as an example. When raising funds, it is not allowed to advertise in the media. In terms of operation, it can only choose to buy stocks. The funds purchased for each stock cannot exceed the upper limit of 10% of the fund's total funds.

What are the specific restrictions, Lin Baicheng, a layman, can't know.

But what Anyuan told Lin Baicheng was that there were almost no restrictions on the Xiangjiang Fund in this era.In terms of fundraising, it is not allowed to raise funds through TV stations, radio, etc., but it can be published in no more than three newspapers to raise funds from outside.

In terms of operation, the fund can operate as it wants, and it can be done by buying stocks and futures.The only restriction is that no more than 50% of the funds can be used to buy companies in which the fund controller holds more than 30% of the shares, mainly to prevent the fund controller from seeking profits for himself.

Taking Lin Baicheng as an example, in the future, for any company where Lin Baicheng holds more than 30% of the shares, the funds that the fund can use to buy cannot exceed 50% of the total funds of the fund, including Hutchison Whampoa.

It can be said that there are very few restrictions on funds nowadays, at least on Xiangjiang's side.

"Anyuan, you ask people to go to the Hong Kong government to register and set up a Yum Fund, and then announce the fundraising in the three newspapers of "South China Morning Post", "Hong Kong Economic Daily" and "Oriental Daily". The fundraising time will be half a month."

The three newspapers that Lin Baicheng chose were not chosen randomly. Among them, "South China Morning Post" is an English-language newspaper, "Xiangjiang Economic Daily" is a newspaper that is related to the economy just by its name, and "Oriental Daily" is for the general public. Classes are covered.

An Yuan asked aloud: "Boss Lin, how much money do we need to raise in total? How many shares can we buy at most? What is the minimum fund unit?"

"There is no upper limit to the total funds raised. Based on 1000 Hong Kong dollars as a share, at least one share must be bought, that is, 1000 Hong Kong dollars. If it is the most, no more than [-] million Hong Kong dollars is fine."

As he spoke, Lin Baicheng continued: "The funds raised have a one-year lock-up period. During this year, they cannot be redeemed. It doesn't matter whether the fund is in a loss or in profit. In terms of fees, the annual management fee of 5% of the principal is paid. If the profit is less than 30%, only a 5% management fee will be charged; if the profit is between 30% and 50%, plus the management fee, a 15% fee will be charged; if the profit is between 50% and 100%, 30% of the total fee will be charged; if the profit exceeds 100%, 50% of the profit will be charged, and the highest ratio is half of the profit.”

Although the establishment of the fund is mainly to maintain personal connections, Lin Baicheng is not prepared to work for nothing. The bottom line he can accept is half of the share for one person.

"Boss Lin, the management fee of other funds is only 3%."

An Yuan couldn't help but remind him.

"As long as the 5% remains unchanged, sometimes the choice is very important."

Lin Baicheng smiled, if someone is willing to spend 2% more management fees, then he can guarantee that the other party will not lose money, but only make money.

"You can do this. First set up the fund, and then raise funds from the outside world. You can raise as much money as you can in half a month. You don't have to force it."

"Okay, Mr. Lin."

After Lin Baicheng said that, An Yuan naturally said nothing more.

In fact, Lin Baicheng is very clear that the funds that the fund can raise at the beginning are limited. After all, although he made hundreds of millions of Hong Kong dollars for Hutchison Whampoa in just a few months, there was only one such example.Due to his age, many people still don't trust him so much, even if they are willing to spend money to buy funds, they will not spend too much money.

Therefore, it does not matter how much money is raised at the beginning, as long as Lin Baicheng spends a year or two or even longer to make the fund have a huge rate of return, there will be not enough people who are tempted.

(End of this chapter)