Chapter 560: The Tycoon with Assets of 10 Billion

Next, Xia Yu provided feedback to the remaining individuals. The meeting then moved into a collective discussion phase. By the end of the meeting, the subsidiaries under Jiuding Cultural Media Group had developed a closer connection, and the utilization of resources had improved significantly, enhancing the competitiveness of each company.

After the Jiuding Cultural Media Group meeting concluded, Xia Yu held a meeting for Jiuding Financial Group the following day.

Compared to the previous day, this meeting had fewer participants, with only Xia Yu, Wang Qi, Liu Tianci, and Jason Gregg present.

Wang Qi and the other two were all prominent figures in Hong Kong's financial sector, but in front of Xia Yu, they appeared quite ordinary.

As before, Xia Yu asked them to report on the operations of the companies they managed one by one.

First up was Jiuding Securities Company, which had been well managed by Wang Qi for the longest time.

After Xia Yu went to the UK, Wang Qi continued to recruit elite talent and set up new funds for external fundraising.

Following the original Huizhong No. 1, Huizhong No. 2, Huijin No. 1, Huijin No. 2, Changqing No. 1, Jiuding Bank No. 1, and Jiuding Bank No. 2 funds, Jiuding Securities Company launched Huizhong No. 3, Huizhong No. 4, Huijin No. 3, and Huijin No. 4 funds, each raising 300 million Hong Kong dollars, totaling 1.2 billion Hong Kong dollars.

At this point, the original raised capital managed by Jiuding Securities Company had reached 3 billion Hong Kong dollars!

However, there were still calls from the outside for Jiuding Securities Company to open new funds. Many people were keeping an eye on Jiuding Securities, which is why Wang Qi continued to hire elites with the intention of quickly launching new funds.

Jiuding Securities was highly sought after in Hong Kong and even Southeast Asia due to its high investment returns on managed funds.

The year before, Jiuding Securities held its first fund shareholder dividend conference, introducing the operation status of the funds to investors and distributing dividends on-site. The atmosphere was extremely lively, almost as if the roof was about to be blown off.

The reason was simple: the returns on Jiuding Securities' funds were too high!

The earliest established Huijin No. 1 and Huizhong No. 1 funds had investment returns of 146% and 144%, respectively. This was not even for a full year of returns, already outperforming the vast majority of funds in Hong Kong, making them star funds.

Additionally, due to the special tiered profit-sharing setup by Jiuding Securities at the time, when the investment return rate exceeded 70%, Jiuding Securities Company received 50% of the profit, while investors received 50%.

As a result, the returns for Huizhong No. 1 and Huizhong No. 2 funds were 73% and 72%, respectively, for investors.

In less than a year, assets appreciated by 73% and 72%, which was a significant harvest for investors.

When Wang Qi announced the returns for investors at the conference, the entire venue erupted in excitement.

As for the later-established Huizhong No. 2 and Huijin No. 2 funds, and Changqing No. 1, although their operating times were shorter, their investment returns all exceeded 50%, delighting investors.

After the conference, most investors shared their wise decisions and high returns with family and friends, making them envious.

With such high returns and excellent publicity opportunities, Wang Qi naturally seized the moment, informing Yan Wenhan. Jiuding's newspapers then conducted extensive publicity, causing a frenzy among Hong Kong's stock investors.

With such high returns from stable funds, who would still be trading stocks?

Taking advantage of this momentum, Wang Qi launched four more funds, raising 1.2 billion Hong Kong dollars, all of which were fully subscribed in less than three days. Many investors waved checks but were turned away by Jiuding Securities. The more they were turned away, the more confident investors became in Jiuding Securities and the more they wanted to invest.

This prosperity made many of Hong Kong's peers envious, yet they could only sigh.

There's nothing to be done; the financial market is such that real, substantial benefits are the foundation of everything!

By the end of the year, with all fund dividends considered, excluding the returns from self-owned funds, Jiuding Securities Company earned 380 million Hong Kong dollars in investment management revenue, with a net profit of 340 million Hong Kong dollars after deducting operating costs, bonuses, and other expenses.

Of course, this profit was not publicly disclosed by Wang Qi, as Jiuding Securities Company was not listed and there was no need to expose it. Investors and the capital market already recognized Jiuding Securities' power. There was no need to go overboard; it was better to keep a hand hidden.

Next was Jiuding Bank.

Due to the strategic cooperation between Jiuding Bank and Jiuding Securities Company, the success of Jiuding Securities Company significantly boosted Jiuding Bank. Many people opened deposit accounts at Jiuding Bank.

Especially after many investors who received dividends deposited their money into Jiuding Bank following Wang Qi's advertising at a banquet, nearly all of them did so.

So far, Jiuding Bank's non-group deposits reached 2.76 billion Hong Kong dollars, with the number of accounts reaching 487,000.

With Liu Tianci's efforts and the advantages of the group, many companies within the industry chain of affiliated companies opened accounts at Jiuding Bank, resulting in the monthly turnover of non-group accounts soaring to 570 million Hong Kong dollars.

Adding the deposits and liquid funds from all Jiuding Group companies at Jiuding Bank, the total assets of Jiuding Bank had reached 6.8 billion Hong Kong dollars!

A large bank for sure!

Finally, there was Jiuding Insurance Company. Jason Gregg was a skilled operator and capital player.

After acquiring and renaming Yihe Insurance to Jiuding Insurance, monthly premium income had been growing rapidly. In the first month of taking over, the monthly premium income increased by 32% year-on-year. The following months saw year-on-year increases of 34%, 36%, and 39%.

In total, Jiuding Insurance Company, including the period of Yihe Insurance, collected premiums of 35.74 million Hong Kong dollars last year. The total claims amounted to 14.12 million Hong Kong dollars, with a gross profit from premiums exceeding 20 million Hong Kong dollars.

Additionally, with the assets previously invested by the insurance company, Jason Gregg also engaged in stock and gold trading, leading to rapid growth in the company's assets, particularly with gold futures using high leverage.

With ample capital, the company's capital investment returns reached 470 million Hong Kong dollars, causing Jiuding Insurance Company's total assets to officially surpass the 1 billion Hong Kong dollars mark, becoming Hong Kong's leading insurance company.

The operational performance of all three companies was excellent. After adding up the data from each company, Xia Yu realized that Jiuding Financial Group's total assets had surpassed the 10 billion Hong Kong dollars mark.

Of course, while the total assets are impressive, they are not the net assets. For instance, Jiuding Bank, despite its total assets reaching 6.8 billion Hong Kong dollars, has a net asset value of only around 800 million Hong Kong dollars, considering the growth in returns and investment returns.

Jiuding Securities Company is similar; the 3 billion raised funds are investor money but are counted as Jiuding Securities Company's assets.

Nevertheless, no matter how it is counted, the money in Jiuding Financial Group's hands gives it the right to use it, and the influence brought by this money belongs to Jiuding Financial Group.

Holding assets of 10 billion Hong Kong dollars, Xia Yu could confidently say that he was undoubtedly one of Hong Kong's top financial moguls.