At the end of Qin, I became a son of the plane

Chapter 417: Hu Hai's Choice and Different Bill Exchanges
Sensing Hu Hai's distrust of him, the master craftsman took Hu Hai to the place where the shipyard managed the accounts and asked him to check the steamship experimental group's operating conditions over the past two years.

Hu Hai looked through the account books and found that the steam turbine group was only a pure consumption two years ago. They experimented with more than a dozen ship types and spent more than 700,000 coins. Then they invited several mathematics experts to help calculate the most efficient angle of the propeller blades (let me explain here that someone said last time that a computer was needed for propellers, but this was because they wanted to calculate the most efficient angle. At the beginning, you only need to know that the propeller blades can drain water when tilted at a certain angle, and there is no need to pursue extreme efficiency). They spent 100,000 coins, and so far, there was only expenditure and no income.

In June of the eleventh year of the Han calendar, the efficiency of the steam engine broke through again, increasing to five times the previous level. At this time, the experimental group made a profit for the first time by installing steam paddles on the thousand-ton flat-bottomed transport ship, earning less than 1 yuan. However, as more and more steam engines were manufactured, the price of each steam engine dropped rapidly.

After the Han Dynasty invented steam hammers, boring machines and other machines for efficiently processing cylinders, the price of each steam engine dropped rapidly, and soon fell to less than 5 coins per unit. At the same time, with the improvement of processing accuracy, the horsepower of the steam engine was further improved, so the gross profit of the steam shipyard for each converted flat-bottomed transport ship soared to .

At the same time, the reputation of steam ships began to become famous. The transportation industry in Guanzhong could save a lot of manpower when going downstream, but it needed a lot of people to row the boats upstream, or have boats pulled by trackers. Not only was it extremely expensive, it also took up space in the cabin. After using steam turbines, although the one-time investment cost was huge, it could save a lot of manpower. The coal-powered steam engines had much less daily expenses than sailors. At the same time, the Han Dynasty also built supporting facilities for steam engines. Each dock in Guanzhong had a special coal bunker to facilitate the refueling of steam engines.

As a result, the captains of Guanzhong began to transform their transport ships. As long as steam turbines were installed, the transport ships that made a lot of noise on the Guanzhong River would not have to worry about whether they were upstream or downstream of the Wei River. The key was that they could greatly reduce labor costs. From this time on, the steamship factory received dozens of orders for transport ship transformation every month, and it was simply too busy to handle them all.

The experimental group's production model could no longer meet the shipping needs of Guanzhong, so at Xu Fan's instruction, the Industrial Bank loaned 2000 million yuan to the steam turbine group to help them buy land, build factories, train employees, and purchase new machines, resulting in the current large factory with ten docks.

But so far they have only modified more than 200 steamships and built three 3-ton twin-screw flat-bottomed transport ships. The profits are still not enough to keep up with the investment, so the steamship investment by Hu Hai has a loss of 2000 million yuan.

Seeing this loss figure, Hu Hai recalled that the equipment and number of employees in the shipyard were higher than those of his Fei Hai Shipyard, but there were more steel equipment here and the salaries of the employees were also higher. The addition of these costs made it understandable that the figure was higher. Based on his experience of lending to hundreds of workshops, there was no problem with this account book and the money was used on real equipment.

After reading the account book, Hu Hai smiled bitterly and said to the master carpenter: "Your account is very clear and there is no problem."

The master craftsman also breathed a sigh of relief. He was also afraid that Hu Hai would act recklessly and damage the reputation of his Mohist school.

But Hu Hai's face looked extremely ugly. He now needed capital to make a comeback, but this steam shipyard only had debts.

He saw the potential of the shipyard. The main mode of cargo transportation in the Han Dynasty was shipping. There were more than thousands of transport ships connecting the entire Han Dynasty's logistics network. All of these large and small transport ships were equipped with steam turbines. This was a business worth hundreds of thousands of gold. A steam turbine had a profit of one times, and the shipyard could earn hundreds of thousands of gold. With patent protection, this business could last for 30 years, which could be said to be a huge fortune.

But Hu Hai's mind was not on this steam shipyard. He was still thinking about his Fei Hai Money House and he wanted to make a comeback. He didn't have time to transform these transport ships bit by bit in Guanzhong.

After thinking seriously for a long time, Hu Hai bowed to the shipyard master craftsman and said, "Just now, Hu Hai used the heart of a villain to judge the heart of a gentleman."

The master carpenter smiled and said, "It doesn't matter. The emperor has taught us that when doing business, we should be like brothers and settle accounts clearly. It will be good for both of us if you settle the accounts clearly."

Dajiang had a good impression of Hu Hai. Among so many steam experiment groups in the Han Dynasty, they were the only ones who almost got nothing. Hu Hai's angel investment at that time gave them confidence to some extent.

Hu Hai continued: "I can see the potential of the steam shipyard. It can be said that this is a hen that lays golden eggs."

The master craftsman said proudly: "If you judge the steam shipyard by money, you still underestimate it. Steam turbines will change the world. Now our steam turbines can only push transport ships on rivers and lakes, but it won't be long before our steam turbines can be moved to sea ships to communicate with the whole world. Steam turbines will become the most important means of transportation in the world."

Hu Hai smiled bitterly and said, "Master, let me be frank with you now. This economic crisis has cost me all my property. Now I can be said to be bankrupt. I urgently need some money to make a comeback. I don't have time to continue to grow with your steam turbine factory."

The master carpenter was stunned and said, "But the factory really can't afford this money."

He didn't expect that Hu Hai had already seen the future of the steam turbine factory and even wanted to sell his shares. In his opinion, there were simply few businesses in the past 30 years that could compare with their steam shipyard. For a moment, he didn't know whether Hu Hai was smart or stupid.

Hu Hai said, "I have thought of a way. There is a bill exchange in our Han Dynasty. I want to sell these three layers of shares. I just hope that the master carpenter will not misunderstand me. It's not that I don't think highly of the factory, but I really need money. So please help me and don't hinder the sale of these shares."

The listing of workshops is still a new thing in the Han Dynasty. It has only been two or three years since it appeared, and hundreds of workshops have been listed. After several rectifications, such money-making projects have rarely appeared.

The workshops that are listed now all have this need, but they lack money to realize their plans and have to go public to raise funds. This is the first time that a workshop like this one that has already been incubated and can wait for stable returns has been listed, because it is equivalent to giving their own money to others.

The master craftsman said, "These shares are your property. It is your personal business whether you are willing to sell them. I just hope that the person who accepts the shares will not affect the development of the factory."

Hu Hai said: "Even if I sell all these shares, only 30% will not affect the development of the factory."

Hu Hai thought for a moment and said, "How about we sign a supplementary agreement here? The shares I sell can only be used to distribute dividends, and cannot interfere with the development of the factory."

The master craftsman shook his head and said, "If there really is such a restriction, it will be difficult for you to sell your shares. I, the Mo family, will not make things difficult for you."

Then he sighed and said, "Since you have your own difficulties, let's just part ways amicably!"

He really felt sorry for Hu Hai. If the factory had not been hatched two years ago, it would not be a big deal for Hu Hai to sell the stocks. But now the prospects of the factory are obvious. Selling them at this time is equivalent to selling a hen that lays golden eggs.

But he also knew the cruelty of this economic crisis. Perhaps Hu Hai really had some unavoidable reasons that forced him to pay such a huge price and raise the money.

So the master craftsman took Hu Hai to the Chang'an Bill Exchange and asked the steamship factory to apply for listing. Of course, the 30% of the shares released were Hu Hai's. The remaining 70% were occupied by the technicians of the steam turbine factory, 20%, and the emperor, 50%. The master craftsman was in charge of the management and these shares would not be released.

After completing the listing process, Hu Hai smiled bitterly and said, "This is the most difficult choice I have ever made in my life. I don't even know if this step is right or not. If it is wrong, I will definitely regret it for the rest of my life."

Zhu Pei said: "Since you will regret it, Hu Hai, choose a safe path."

He could also see the potential of the steam turbine factory. He could earn 5 yuan by modifying a ship. There was no such easy money in the world. Moreover, this unique business could make money for another years. Although Feihai Money House made a lot of money, it was not as stable as the steam turbine factory. Who knew when another economic crisis would come and bankrupt their entire company.

Zhuzi said, "Brother Hu Hai, why don't we keep the shares and live a stable life in Zhaoli in the future? I have looked at the factory's turnover and it can make tens of millions a year. If we divide it into 300%, that is million, which is equivalent to three marquises of the Han Dynasty. Brother Hu Hai, why do you have to fight so hard?"

Zhuzi was a little confused. Compared with the three million that was guaranteed to make a profit, why take such a risk? Even if he wanted to make a comeback, he could just wait for a year or two until the factory paid off its debts. Then he would have money.

Hu Hai shook his head and said, "You don't understand. I just don't want to live a monotonous life in Zhaoli, so I came out to take risks."

Zhuzi's words made Hu Hai more determined. He didn't want to live a life of idleness and waiting for death, nor did he like to engage in manufacturing.

What he liked about running a money shop was seeing the growth of numbers and the businesses connected to his money shop. It was a huge economic entity under his control. He liked the feeling of being in control of everything, which made him feel like he was still the Second Emperor of Qin.

Three days later, the steam turbine factory was ready for listing, and Hu Hai and his two companions came to the Han Dynasty's bill exchange again.

Affected by the economic crisis, the Bill Exchange was deserted for more than half a year. However, with the convening of the Sages' Meeting of Princes, all the powerful people in the world gathered in Chang'an City, and the Bill Exchange became lively again.

"It's very inconvenient not being in Chang'an City. I can't even buy back some stocks." Liu Bang complained.

Xu Chongzhao laughed and said, "You are stupid and don't know how to arrange a confidant in Chang'an. Otherwise, you wouldn't have so many problems. Besides, you are already a rich man compared to us brothers. You are still complaining now. Aren't you a little too greedy?"

The impact of this economic crisis on Liaodong was limited. After all, in a place where even monetary transactions rarely occurred, most areas were still bartering. The advanced financial model of economic crisis could not affect such a place at all. But it still had an impact on the princes of the Han Dynasty. Half a year ago, when the economic crisis occurred, a large number of workshop owners wanted to withdraw funds from the bill exchange to stabilize their main business. At that time, the stock price plummeted by 6000% to 2800%. In the words of later generations, it directly fell from points to .

At that time, cash was king in the entire world, and the Han court and Xu Fan's inner court were the ones with the most cash.

The Han Dynasty's bill exchange has several stocks listed on it that are all high-quality assets, and the annual dividend profits are extremely considerable. For example, the Han Dynasty court had no money before, and raised funds from the private sector to build the railway.

Now, with the continuous laying and expansion of the entire Central Plains rail network, the imperial court has invested a lot of materials in the large-scale development of Hexi. After the Western Regions were conquered, the world has gained another prosperous Silk Road trade route, and the income from the rails has become more and more considerable, even exceeding their original expected income. It can be said that those who bought rail stocks in the past have all received a dividend that is guaranteed to be profitable regardless of drought or flood.

Xiao He wanted to buy back these stocks in the name of the court, but unfortunately these stocks had been pushed up to extremely high prices, and it would be extremely uneconomical for the court to buy them with money.

This wave of economic crisis has arrived, and the stocks of these rail companies have generally fallen by 60% to 70%. Faced with this situation, Xiao He took out a sum of money from the imperial treasury and repurchased in advance the rail stocks that the imperial court had distributed.

Xu Fan also took money out of his own private treasury and purchased a large number of high-quality assets such as Liu Bang Shipyard and Whaling Farm. At the same time, he helped the court to support the stock market. It can be said that he was doing both public and private business. Now Xu Fan has become a shareholder of more than a dozen listed companies.

But this situation was not so good for Liu Bang. With the discovery of the Whale Sea, the value of Liu Bang's shipyard became higher and higher, especially with the high-quality wood from Liaodong. His shipyard had good quality, large hulls, and low prices. Those wealthy princes ordered whaling ships from his shipyard one after another, and the huge profits from whaling made these princes rich, and they once again spent more money to build whaling ships.

This formed a positive cycle. Every year, Liu Bang's shipyard could earn 20 million yuan in profit, which was higher than the tax revenue of Liu Bang's Pei State. The industrial chain extended by the shipbuilding industry supported tens of thousands of people in Pei State. It can be said that the shipyard had become the pillar industry of Pei State. The shipyard brought Liu Bang not only money, but also stability and rapid development of Pei State.

At the council meeting of Pei State, Liu Bang repeatedly boasted about his foresight and how he put Pei State on the path of rapid development.

But what followed was that Liu Bang was dissatisfied. He was very excited when he raised 100 million yuan and didn't care about the 50% shares he gave away. At that time, he was thinking that there was nothing to be dissatisfied about when he got something for nothing.

But now he has to distribute tens of millions of dollars to Chang'an's shareholders every year. Every time he sees the money being pulled out by horse-drawn carriages and flowing to Chang'an and to those shareholders whom he had only met once, Liu Bang's heart becomes as cold as the winter in Liaodong.

This was not just a free-for-all, it was a trap for himself. He, a mere prince, actually worked for those shareholders. He also wanted to buy back the stocks, but these high-quality stocks had already been hyped up. Liu Bang found that it was not worthwhile to buy back the stocks.

He had originally wanted to take advantage of the economic crisis to find a way to buy back his own shares, but then he saw that the emperor had become a shareholder of his shipyard, holding 25% of the shares. He was still grateful to the emperor for helping him raise the stock price. He was clearly making his own money, but he still had to thank the emperor. What kind of thing was this?

"The emperor is too good at making money." Liu Bang could only say helplessly. For this repurchase plan, Liu Bang prepared 30 million. As a result, looking at the high stock price, he didn't want to sell it at all. It was not easy for him in Pei State to save this little money. He sweated a lot to save it.

Chen Ying, who followed Liu Bang to the bill exchange, said with a smile: "This is something known to everyone in the world. I think you should just tell the emperor and spend some money to get all these stocks back. The emperor will not care about your little tricks."

Liu Bang thought for a while and said, "Forget it. The emperor is optimistic about it, which can be regarded as a promotion for my shipyard. It is also a good thing for me. When I promote it in the future, I will put the emperor's shares first, so that everyone knows that the emperor is also optimistic about my shipyard. With the money in hand, I'd better see which stocks are better and buy some at a low price. There are gold mines everywhere here. I hope to find some gold mines that are not inferior to those of my shipyard."

Although the threshold of the Han Dynasty's bill exchange is extremely high, the benefits are also huge. Influenced by later generations, Xu Fan has strict control over these listed workshops. Every year, the Han officials of the bill exchange audit the listed workshops, which ensures the fairness and justice of the bill exchange. People who buy these stocks have good returns.

The speed of evolution of these sickles cannot keep up with the regulatory system of the bill exchange. So far, most workshops have been raising funds in a down-to-earth manner and paying dividends to shareholders honestly.

Although this resulted in not many stocks in the bill exchange, because unless they had no other choice, ordinary workshop owners preferred to go to the money shop to borrow money rather than using their own workshop shares to raise funds, because compared with the two layers of profit from the money shop, the cost of buying back stocks would be greater.

Only those super-large workshops and projects have to raise funds on the stock exchange. And after the major shareholders complete the expansion, they prefer to use their own money to buy back the stocks and delist them, so that they don’t have to pay dividends to other shareholders, and they don’t feel that they are working for other shareholders.

This situation has led to the situation that although the Dahan Bill Exchange has been open for four or five years and has hundreds of listed workshops, there are only about thirty stocks listed here, and it is showing a decreasing trend. Excluding the factor of workshop closures, the main reason is the delisting of major shareholders.

Just as Liu Bang and Chen Ying were chatting, a bell rang at the Bill Exchange. This was the listing bell that Xu Fan had created in the future. As long as this sound was heard, it meant that there was a new listing workshop at the Bill Exchange.
Liu Bang was surprised and said, "At this time, there are still people who want to open a workshop. I'm afraid they must be fools, right?"

Even though Xu Fan had set such strict rules, he could not prevent workshops from closing down and investors from losing all their money. The large listed workshops were able to withstand this wave of economic crisis, but the small ones went bankrupt directly. In the past six months, more than 20 listed workshops went bankrupt and investors lost all their money. As a result, the stock exchanges were extremely deserted for a long time after the crisis broke out.

Chen Ying said, "Not necessarily. Now that all the princes and wise men like us have gathered in Chang'an City, it may not be a bad idea to list the workshop at this time. If you dare to list it at this time, you must have something real."

"Steam Turbine Factory!" Liu Bang was stunned: "Am I seeing this correctly?"

Chen Ying was also surprised and asked, "Does the emperor allow them to do this?"

In Chen Ying's opinion, all steam-powered factories were invested by the Han court and were directly under the jurisdiction of the Shaofu. How could they be listed in this bill exchange?

But Liu Bang soon realized, "It's possible. Have you forgotten that Your Majesty couldn't afford the research and development costs of the steam engine, so he held a steam exhibition. At that time, many big merchants invested money and took up shares. Maybe those big merchants couldn't bear the economic crisis and wanted to sell these shares to maintain their own workshops."

Chen Ying said, "That person is really stupid. The steam engine has already shown a trend of replacing water conservancy, and the steam engine has a 30-year patent. It is a guaranteed crop that will yield a stable yield regardless of drought or flood. It would be a huge loss to sell it now."

Liu Bang pulled Chen Ying forward and said, "Why should we care about these things? Now that there is such a fool who puts the steam turbine factory's stocks on the market, if we don't hurry up and get one, we will regret it later."

When you come to the stock front desk, the situation of the steam turbine factory is recorded, such as the factory's patents, revenue and profits in the past two years, the value of its factory buildings and debts, and other listed information are clearly marked.

The steam turbine factory was priced at 1000 million coins for its factory buildings and patents, divided into shares, coins per share. Such a high share price was deliberately made by Xu Fan in order to prevent the stock market from affecting ordinary people. Ordinary people should honestly make money through their own labor. If they want to make money with money, they will definitely become the little white rabbits in the stock market and be swallowed up cleanly.

(This is the most true portrayal of myself. I invested 1 yuan right after graduation, and wanted to play with money to make money. I took stock trading as my main business and made yuan at the beginning. Later, I lost more than yuan, and I suddenly realized and left early.)
Hu Hai sold 1000 shares, and they were all immediately bought by Liu Bang.

Countless people who wanted to buy stocks sighed that it was too late.

Liu Bang said proudly: "Thank you very much for your tolerance."

Hu Hai raised the price again to 1200 coins per share and released another 1000 shares.

This time, more people took action. After all, those who could play stocks in the bill exchange were not ordinary people. They naturally understood the potential of the real steam turbine factory, which was a hen that laid golden eggs. If you grab it, you will make money.

Hu Hai raised the price again to 1400 coins per share and released another 1000 shares.

But those stocks were once again swept away.

Hu Hai kept raising the price, selling 1000 shares each time. Soon the price of the steam turbine factory's stock was raised to 2000 coins per share, which made fewer people buy the stock.

Hu Hai understood that this was almost the limit, so he put his remaining shares up for sale at a price of two thousand coins per share.

(End of this chapter)