In September... the news of Chen Pingsheng cashing out 300 billion US dollars caused a seismic-level capital shock, not only abroad but also domestically.
The main purpose of this cash-out is to solve three things. One is to pay off the entire remaining balance of the world-class cruise ship Tengying, which left about 30 billion.
Additionally, upgrading the originally planned six-star Tengying Hotel to a seven-star hotel, which there are only a few worldwide.
Further increasing 15 billion funds, similarly paying off the entire balance of 35 billion.
Also, Tengfei Mobile released all the research and development funds for the next two years, including development funds.
Approximately 50 billion.
The three items combined are almost spending 115 billion.
This also means he won't have many spending projects in the next three years, apart from donating 15 billion to Magic City.
