The Fourth Financial Crisis

As we all know, all spiritual stones in the Jiuzhou cultivation world are produced from seven super spiritual stone veins.

The equity of these seven major spirit stone veins are all publicly traded on Wuliangjian Sect Stock Exchange, and you can buy them at any time as long as you have money. Therefore, the risk-free rate of return recognized by the Kyushu cultivation world is the dividend rate of these seven major spirit stone veins ( dividend rate).

According to the current public trading price of Lingshi Mineral Equity, this ratio is currently infinitely close to 0.01%.

In other words, if you want to use Lingshi coins to buy equity in the Lingshi mine, it will take 10,000 years to recoup the investment through the shareholder dividends of the Lingshi mine.

The legal effect of Lingshi Mine stocks is double-endorsed by Lingshi Reserve Bank and Tiandao Contract. Therefore, although the return on investment is not high, it is better because there is no risk.

The risk-free rate of return is so low that the risk-free rate of return is naturally not much better.

In order to open the Qingning Chamber of Commerce, Li Qingning, a second-generation rich man in the world of cultivation, spent nearly 10 million spirit stone coins in start-up capital. However, such a huge capital expenditure resulted in pitifully little investment income.

Even if all the amounts of corruption discovered by Yang Lu were added back, Li Qingning's profits in the three years since he opened the chamber of commerce would only be less than 900,000 spiritual stone coins, and the comprehensive return on investment would be less than 3%.

This is because Li Qingning cheated and had the support of Golden Blade Sect and Li Qingyang.

According to Yang Lu's grassroots research, the long-term capital return rate of most cultivation chambers of commerce is only about 2%. Only Tianshu City and Haiya Chamber of Commerce, which have monopoly resources, and smuggling channels and The Zhujia Chamber of Commerce under the protection of Du Zhitang can only have a slightly higher return on investment.

Such a meager profit level means that the Cultivation Chamber of Commerce is not a good business. As long as it is not managed well and some leaks occur, the Cultivation Chamber of Commerce will face the risk of closing down. This is why Li Qingyang does not agree to Li Qingning's opening of the Chamber of Commerce. This eventually led to Li Qingning running away from home.

Even if he is as wealthy as President Li Qingyang, he cannot stand up to Li Qingning, who is so prodigal!

This is like France during the Revolution. Everyone originally thought that Marie Antoinette, the "deficit queen" who was sent to the guillotine, was the most prodigal. But when it was Napoleon's turn to come to power to do great things, everyone realized that he was even more outrageous. After all, the deficit was The queen only wanted to renovate the Palace of Versailles, but Napoleon wanted to raise hundreds of thousands of modern troops!

Hong Kong tycoon Xu Shixun once said that he would rather let his son Xu Jinheng eat, drink, and gamble every day than let him inherit the family business. For this reason, he directly established a family trust so that his son could only receive a fixed living allowance of 2 million per month. It’s because business is losing money so fast that even a Hong Kong real estate tycoon worth HK$40 billion can’t handle it.

This is true for Hong Kong, which has an average return on capital, and even more so for the Kyushu cultivation world, which has an extremely low return on capital.

Although Li Qingning has worked very hard, she has still "lived up to expectations" in the past three years and has successfully lost more than 200,000 spirit stone coins. This loss is enough to support hundreds of ordinary Qi Refining Stage cultivators.

In other words, Yang Lu worked hard to recover hundreds of thousands of stolen money, which allowed Li Qingning to make a little profit. Otherwise, Li Qingning not only worked for nothing in the past two years, but also paid a large amount of money.

Now that it wants to expand cooperation with the Haiya Chamber of Commerce, the Qingning Chamber of Commerce will inevitably invest a lot of capital again.

The Haiya Chamber of Commerce is not a charity, but a for-profit organization that needs to support more than 8,000 disciples. Even if Li Qingning was assassinated on the street last time, Jiang Hua'an just took out a discount of 200,000 spiritual stone coins as compensation.

This is not because Jiang Hua'an is stingy. In fact, the landlord's family has no surplus food. Even for this mere discount of 200,000 spirit stone coins, he personally paid 50,000 out of his own pocket, otherwise he would not be able to give it to the elders (shareholders) of the Haiya Sect. ) we communicate.

It is a great blessing that the Qingning Chamber of Commerce can partner with the Haiya Chamber of Commerce to do business. We certainly cannot expect the Haiya Chamber of Commerce to help with the capital. Even based on the most conservative amount calculation, the Qingning Chamber of Commerce will have to spend at least 400 Wanling Stone Coin capital.

Hearing this staggering amount, Yang Lu couldn't help but ask: "Miss Qingning, how much money can you afford now."

Li Qingning gently tugged at the corner of his clothes, and said with some embarrassment: "The working capital that the Qingning Chamber of Commerce can use is about 1 million spirit stone coins. The stolen money you have recently recovered is about 600,000. What are you doing from this time? The demon elixir brought back from Tianshu City is worth 300,000 yuan. Jiang Huaan planned to give away 200,000 yuan last time. I can also contribute another 500,000 yuan. Currently, I am still short of at least 1.4 million yuan..."

Yang Lu finally understood why Li Qingning acted like a shy little daughter.

Even though she counted 2.6 million in working capital, more than one million of it was earned with Yang Lu's help. But even if Yang Lu's hard-earned wealth from Tianshu City was taken into account, there was still a shortfall of 1.4 million. The hole in the spirit stone coin cannot be filled!

Hearing this huge sum of money, Yang Lu also felt a little worried.

He can help Li Qingning solve the problem of more than one million spirit stone coins. In the eyes of ordinary people, he is already the reincarnation of the God of Wealth. If he wants to collect another 1.4 million spirit stone coins, he may have to rob the Haiya Bank cash transport truck. Got it!

After thinking hard for a long time, Yang Lu asked tentatively: "He Mingyuan should have his own small treasury..."

"I...I have already contacted He Mingyuan!" Li Qingning was obviously hesitant when he mentioned He Mingyuan's matter. "I tried to persuade him for a long time, but this guy can only produce 300,000 spirit stones at most. It's really hard to extract." There’s more oil and water coming out!”

Based on Yang Lu's understanding of Miss Li, this so-called "persuasion" is definitely not that simple!

No wonder when I saw He Mingyuan recently, I always felt that this guy was full of lovelessness. Yang Lu originally thought that Manager He was obsessed with anti-corruption work and couldn't extricate himself. Now it seems that he was completely angered by Li Qingning's blackmail behavior!

Li Qingning also knew that his act of secretly blackmailing He Mingyuan was not very authentic. He explained in a voice as loud as a mosquito: "I didn't openly rob Steward He of his money. I promised him that he could hold shares in the Qingning Chamber of Commerce's business, but I only had the right to share dividends." …”

After listening to Li Qingning's explanation, Yang Lu finally breathed a sigh of relief.

Qingning Chamber of Commerce has no generals in Shu, so He Mingyuan is still very useful. As long as Li Qingning doesn't use drastic measures, there is still room for recovery.

After all, Yang Lu was also planning to target He Mingyuan. At worst, he would personally discuss the terms of cooperation with He Mingyuan.

In fact, there is nothing wrong with the strategy that Li Qingning came up with. Letting He Mingyuan invest in the Qingning Chamber of Commerce is equivalent to the company issuing additional shares for the company's management to subscribe. As long as the subscription price is appropriate, the interests of the management and the interests of the company can be effectively bound. At the same time, from the perspective of business management theory, there is nothing wrong with this.

But the core of the problem lies in how much the subscription price should be.

If the subscription price is set high, it is equivalent to robbing the management; if it is set low, it is equivalent to the loss of corporate assets. The pricing level of equity incentives is the key to testing the wisdom of entrepreneurs.

If the pricing is correct, it is a win-win situation. However, if the pricing is not correct, as in the capital market of a large country on earth, equity incentives are basically synonymous with hollowing out public assets. For example, a certain person who sells milk or a certain person who sells computers are both. Relying on this kind of randomly priced equity incentives, state-owned enterprises are turned into their own private kingdoms.