Chapter 57 Bidding for Yida Film Equity

The six beauties kept Yang Chen entertained until well past midnight. If he hadn’t had a flight to catch the next day, they would have happily carried on.

Yang Chen’s lips were already growing numb. For the first time, he realized that kissing could be painful.

Next time, they shouldn’t use this as the wager. They should make the loser take off an item of clothing instead.

…

The fallout from the banned ingredients in GRM diet pills continued to spread.

Huo Bing, the leading actress at Yihua Entertainment, had once been the face of GRM diet pills. Her contract had expired in June this year, and the two sides were still negotiating a renewal, since her endorsement fee had more than tripled.

Although Huo Bing and Yihua Entertainment had both issued statements saying their partnership had ended on June 30, netizens weren’t buying it. She had, after all, endorsed the product.

Netizens flooded the social media accounts of Yihua Entertainment and Huo Bing with abuse until they had to disable comments.

Huo Bing’s film, Chrysanthemums and Peach Blossoms, was about to be released. Audiences would certainly take out their anger over the GRM diet pills on the movie.

The film’s investors had already expressed their displeasure to Yihua Entertainment and Huo Bing. They also warned that if the box office performed poorly, Yihua Entertainment and Huo Bing would have to compensate them for their losses.

Hua Jun, president of Yihua Entertainment, was furious. He hated GRM and Yang Chen.

Eight o’clock that evening.

Banquet Hall No. 1 at the Diaoyutai State Guesthouse in the capital.

Wang Xiaosen, chairman of the Yida Group, was chatting and laughing with several familiar guests. His son, Wang Tianming, stood beside him with a disgruntled expression.

Wang Tianming’s interests were travel and beautiful women. He had no interest in business at all, and he found this sort of occasion unbearable. His father had dragged him along by force, and he was simply putting in an appearance under duress.

Yang Chen looked around several times but didn’t spot anyone he knew. He sat quietly with Chen Xi and waited for the auction to begin.

A little over ten minutes later, Old Wang walked up to the microphone and said loudly, “Distinguished guests, welcome to this auction banquet. We’ll begin the auction now. Once it’s over, you can enjoy the food and wine to your heart’s content. I’m a straightforward man, so I won’t waste time with a long speech. The item up for auction is a 20 percent stake in Yida Pictures. Based on its current market value, bidding starts at 5.5 billion. I care about the money, not the people—highest bid wins. You may begin.”

The first to bid was Lu Yuting, owner of Dongxiang Wealth. She had already acquired a 1.8 percent stake in Yida Pictures. If she won this 20 percent stake as well, she would become the company’s largest shareholder.

Lu Yuting bid 5.55 billion. Using his mind-reading ability, Yang Chen could tell that the highest price she was willing to accept was 5.8 billion.

Then Hua Jun, president of Yihua Entertainment, bid 5.58 billion. Yang Chen read his mind and learned that his upper limit was also 5.8 billion.

Next, Shenxian Financial Investment bid 5.7 billion. The company had already acquired an 8 percent stake in Yida Pictures. If it secured this 20 percent stake, its position as the largest shareholder would be secure.

Yang Chen used his mind-reading ability to learn that Shenxian Financial Investment was willing to go as high as 6 billion—fully 500 million above the starting price.

…

After a series of bids, the price had reached 5.95 billion.

All the other bidders had made their offers, some of them several times over. Yang Chen had figured out the maximum each of them was willing to pay.

Wang Xiaosen smiled and said, “Shenxian Financial Investment has bid 5.95 billion. Is there anyone willing to go higher?”

None of the other bidders responded. The price was already beyond what they were prepared to pay.

Yang Chen leaned close to Chen Xi’s ear and whispered, “Bid 6.01 billion.”

Chen Xi nodded, stood up, and said loudly, “Four Seas Entertainment bids 6.01 billion!”

“Wow…”

The whole room gasped, and every eye turned toward them.

“Four Seas Entertainment? Didn’t the Four Seas Group just collapse? They’re 3 trillion in debt. How can they afford to bid on a stake in Yida Pictures?”

“Do they even have 6 billion? What a ridiculous bid!”

“Are they here to disrupt the auction?”

…

The representative from Shenxian Financial Investment was baffled. The bid of 6.01 billion was far too precise. Had someone on the inside leaked their plans?

Wang Xiaosen immediately smiled and asked, “Madam, are you certain Four Seas Entertainment is bidding 6.01 billion?”

Chen Xi nodded confidently. “I’m certain. 6.01 billion!”

“Very well!” Wang Xiaosen said with a smile. “Four Seas Entertainment bids 6.01 billion. Is there a higher offer? No? 6.01 billion, once! 6.01 billion, twice! 6.01 billion, three times! Sold! Congratulations to Four Seas Entertainment on winning a 20 percent stake in Yida Pictures. That concludes the auction. Now, everyone, eat and drink to your heart’s content. Make sure you enjoy yourselves.”

Wang Xiaosen glanced at his son, and the two of them walked over to Yang Chen.

“You must be Mr. Yang Chen, the new chairman of the Four Seas Group,” Wang Xiaosen said with a smile.

Yang Chen nodded. “A pleasure, Chairman Wang. I’m Yang Chen.”

“Chairman Yang, you’re certainly a young man with a bright future ahead of you. How do you plan to pay the 6.01 billion? I’m in need of cash, so I have to receive the money right away,” Wang Xiaosen said.

“I’ll have my people come tomorrow to sign the contract. Once it’s signed, we’ll transfer the payment,” Yang Chen replied.

Just then, Hua Jun, president of Yihua Entertainment, came over. He had already resented Yang Chen, and now that Yang Chen had outbid him for the stake in Yida Pictures, he hated him even more.

“Chairman Yang, Four Seas Entertainment owes tens of billions. Where are you going to find 6 billion to pay Chairman Wang? Could you stop causing trouble?” Hua Jun said with disdain.

Yang Chen used his mind-reading ability to read Hua Jun’s thoughts.

“Damn it. The GRM diet pills tarnished Huo Bing’s reputation, and now you’re competing with me for Yida Pictures. You really deserve to die!”

Yang Chen smiled faintly and thought, “So he holds a grudge against me. No wonder he came over to make snide remarks.”

Yang Chen smiled as he replied, “If I dared to bid, I can certainly pay. You don’t need to worry about that, Mr. Hua. Instead of fretting over whether I can afford it, perhaps you should focus on figuring out how to restore Huo Bing’s reputation.”

Hua Jun ground his teeth in anger. “You’ve got some nerve saying that! If you hadn’t made such a mess of things, Huo Bing wouldn’t have been dragged into it!”

“You can’t blame me for that, Mr. Hua. If you endorse a product without checking the facts, how is that my fault?” Yang Chen shot back.

Seeing the tension rising, Wang Xiaosen quickly raised his wineglass. “Gentlemen, enough. Do me a favor and have a drink. Come on, let’s drink.”

Yang Chen and Hua Jun exchanged a glance, then both raised their glasses and clinked them against Wang Xiaosen’s.

Yang Chen set down his glass and smiled. “We’ll be going now. Tomorrow, I’ll send Guo Yi, president of Four Seas Entertainment, to lead a team to Yida Pictures’ headquarters to sign the contract.”

“Very well. We’ll be ready. Take care, Chairman Yang,” Wang Xiaosen said with a smile.

Yang Chen left with Chen Xi. Hua Jun also found an excuse to leave.

Yang Chen and Chen Xi returned to their respective rooms.

Yang Chen called Guo Yi and instructed him to bring his team over first thing the next morning to sign the contract with Yida Pictures.

After hanging up, Yang Chen called Li Jun.

“President Li, I still need a 2.01 billion loan from the Industrial and Commercial Bank of China. Would that be a problem?” Yang Chen asked.

“How about this? I’ll call President Zhao and arrange for you to meet with him at the head office tomorrow. How does that sound?” Li Jun replied.

“That works. Set a time and let me know,” Yang Chen said.

After hanging up, Yang Chen went to take a shower.

When he came out, a bath towel wrapped around him, someone knocked on the door.

Thinking it was Chen Xi, Yang Chen opened it. But the person standing outside was Huang Min, who had just ended her contract with Jiayue Entertainment.

Without a word, Huang Min threw her arms around Yang Chen.