Reaching the age of thirty, my income randomly doubled-Chapter 916 - 685: University of Technology_2

It seems they want more people, including more media, to focus on this company that absolutely has a chance of becoming a leading technology giant in the country in the future.

Currently, Tengfei Group is not very well-known externally.

Mainly because the publicity direction has been very conservative, not utilizing its subsidiary Tengying Entertainment, including Teng You Media.

The other major reason is that the products are still too few.

Primarily, it’s only new energy vehicles.

Although the car sales have become number one in the country, compared to the ubiquity of phones, the popularity has not yet reached a widespread level.

Outsiders do not know its technology content has accumulated to such an astonishing level.

Tengfei Group will truly astonish the world next year at the launch of the Tengfei AI Phone.

They are not like those traditional home appliance giants; they have prepared for many years with a winning assurance to do this task.

Not that there’s no chance of failure, just that they have strived to avoid it as much as possible.

To ensure a resounding debut, they delayed the release for more than a year, consuming astronomical amounts of funding in the process.

With the successful launch of Longteng S700, he gave a total of RMB 3 billion in bonuses to the R&D team of the Longteng series.

It was all from his own pocket, being the boss only had one perk, which was generosity.

As long as the R&D is strong, the team is strong.

The money they can get here is absolutely unparalleled elsewhere.

At least all top R&D teams’ housing issues in Magic City have been resolved by him.

Additionally, with this bonus distribution, each person gets at least a few million, with the highest not less than tens of millions.

When he returned to the group, Tang Jing told him the plan for the year-end bonus in 2024 was already out.

There’s no need to mention the traditional sectors, they’re still according to the previous standards.

His wife’s business also opted to leave most of the profits to the employees.

This year, both cars and batteries completed their listings, leading to him having the most profitable year.

Calculating just this year’s investment returns, it is at least over 60 billion US Dollars.

Chen Pingsheng briefly reviewed the year-end bonus plan and then made a significant private decision.

He decided to take 2 billion US Dollars and reward those R&D engineers from both Tengde Era and Tengfei New Energy individually.

Apart from the R&D team, the management team also gets an additional 500 million US Dollars as a separate reward.

Only such R&D engineers, including top scientists, can truly demonstrate the usefulness of education.

This kind of profession requires at least a master’s degree to even submit a resume.

Taking out RMB 16 billion as bonuses, it’s simply unimaginable for other companies.

But for Tengfei Group, it’s quite normal.

Though he lacks many technical skills, he is definitely the most willing to spend money.

Employees of the Tengfei Group, at least over 90% are millionaires.

Those not yet reaching millions are merely due to joining the company too recently.

Nowadays, real estate prices, let alone other cities, are struggling even in Magic City.

Chen Pingsheng again took out over 100 billion US Dollars, ready to acquire land and build buildings in three other super-first-tier cities.

He builds buildings not to profit from the difference, but simply to lower the development costs of housing.

By dispersing more real estate price bubbles, it allows those top engineers to afford housing in first-tier cities.

If people with such high education and income can’t afford houses, that steel and cement would truly become a joke.

He simply funds in advance without any actual loss.

Therefore, these expenses are not counted in his family spending.

When mid-November arrives, and Tengfei Group announces its year-end bonus.

It indeed astonished the entire industry. What a joke, no domestic company supported by new energy for so many years has seen a profit over RMB 16 billion in a year.

And Tengfei New Energy, including Tengde Era, the big boss alone privately pulled out bonuses exceeding RMB 16 billion.

If adding the other bonuses issued throughout the year, in 2024, just one person, the big boss of Tengfei Group, took out over RMB 20 billion in bonuses.

Who wouldn’t like such a boss?

People might mistakenly believe Tengfei New Energy Vehicles earned astronomical sums, with such high profits?

Actually, it’s just that Chen Pingsheng earned excessively much, with Tengfei New Energy Vehicles showing total sales of 2.86 million units in 2023.

And in 2024, the sales had already reached 3.12 million units.

Achieving first in the country, eighth globally.

A remarkable achievement that marked the first time in seventy years of the country’s automotive industry entering the top ten global sales.

Such excellent results naturally led to an explosive increase in stock prices.

While sales indeed grew, the profit section still seemed somewhat low.

Mainly, the R&D costs remain high, spending over RMB 30 billion annually over the past few years.

Not the total of Tengfei, merely the R&D expenses of the automotive sector.

Nonetheless, there’s still a net profit exceeding RMB 20 billion.

After losing money for so many years, new energy vehicles finally see profit.

Profits from Tengde Era aren’t less than RMB 14 billion either.

He personally gets RMB 8 billion from dividends from just these two companies.

While it doesn’t match his stock market earnings, it provides a steady stream of income.

More crucially, he has been spending large amounts to repurchase the stocks of Tengfei Group.

These sectors’ revenue is the highest.

Believing it won’t take much time before Tengde Era, including Tengfei New Energy Vehicles, will step into the country’s trillion RMB market value.

By then, he will be the boss holding two trillion-dollar companies.

In late November, Chen Pingsheng announced again the sale of 0.5% of NVIDIA shares.

With a market value exceeding RMB 3 trillion, he believes it has reached a considerable extent.

It will be difficult to see significant growth in the future.

It’s much better to cash out now and invest in his own companies.

Once again cashing out 16 billion US Dollars, besides taking out 10 billion US Dollars to acquire land to build high-end communities for Tengfei Group talents in three super-first-tier cities, the rest will be entirely spent in the secondary market to repurchase shares of Tengfei Automobile and Tengde Era.

In recent years, the balance between his funds has grown increasingly, almost reaching incredible levels.

After this repurchase, his shares of these two companies will roughly reach 35%.

Spending money on building provides the guarantee for the Group’s R&D talents to enjoy the best housing requirements.

It’s one of the essential benefits of a technology giant.

Additionally, in late November, the Group’s economic research department and Chen Pingsheng’s personal insight concluded.

They now possess the qualification to establish their own first-class university.

This is fundamentally different from investing over RMB 20 billion in Tengying Management College.

Chen Pingsheng decided to allocate 18 billion US Dollars to acquire over 2,500 acres of land in Golden Mountain.

To build Tengfei Future Science and Technology University.

Which includes major technical disciplines such as AI, automotive industry, smartphone industry, including the electronics industry and several other professional subjects.

Only enrolling top-notch geniuses from across the society.

And these individuals, not to mention having priority entry into Tengfei Group after graduation, but more importantly receive monthly study allowances during school.

The crucial aspect is Tengfei Group needs to recruit young talents from across the society.

To comprehensively perfect the Group’s basic technical framework and talent model.

This majorly benefits Tengfei in its growth towards becoming a world-class technology giant.

Many companies may have such ideas but cannot execute due to lacking corresponding funds.

Tengfei Group is different; Chen Pingsheng can easily allocate billions.

18 billion US Dollars roughly converting to RMB 120 billion, enough to build the world’s finest university.

Of course, it means from the perspective of hardware and software facilities.

To truly become a world-class technology university, it must still cultivate a foundation.

Money alone isn’t enough for that, but fortunately, it is backed by the entire Tengfei Group.

Sooner or later, it will be accomplished.

Furthermore, Chen Pingsheng doesn’t need to rely on alumni donations like other universities. He alone guarantees the university will have no less than RMB 10 billion annually in project research funding.

Previously, he dared not establish such a university due to the lack of conditions.

But now it’s different. Tengfei Group is fully developed.

Also, it has the strong support of the entire Magic City.

He personally contributes to enhance the country’s tech field, aiming to penetrate the global market.

This fundamentally differs from the internet economy.

No matter how well the internet economy grows, it’s still circulating domestically.

The thriving internet brings down the real economy.

Only the tech industry has no ceiling, unlike others which all require certain constraints.