Chapter 97: An Inventory of Assets

What? They will not work with us?

Sitting in front of the stage at the launch event, Minami Shuuichi and Noda Masao stared speechlessly at each other. Their eyes were filled with disbelief. Minami Shuuichi had a good grasp of the Z language. After translating the speech given by Ling Jundong on the stage, he turned to Noda Masao and said, “Noda-san, this company from Z country is crazy. How dare they lockout the robots from Yaskawa Electric and Fanuc Corporation? They just don’t understand how powerful we are! They are so ignorant and stupid, like an idiot!”

“Yes, Z country can never hope to catch up to us in the field of high-end components, not even in 50 years! Unlike us, they don’t have the spirit of the craftsman! But, how did they resolve the supply issues of the brushless motors and the mechanical mobile parts? Is the quality of their components really as good as what was publicized?” Noda Masao was filled with doubts. He felt that it was one big mystery.

“Fakes. Their quality was faked. The quality of their components is definitely not as good as what they publicize! At most, the lifespan of their components is only half of ours!” Minami Shuuichi said with utmost confidence, “Moreover, they must have hired an industrial spy and stole our technology. They are thieves!”

Noda Masao agreed, “I think so too!”

“I have to report this to the Association immediately. Youying Motors has infringed on the technological copyrights of Yaskawa Electric. The Association must raise their objections, sue them, and demand that they stop their actions of copyright violations!”

“That’s right. I have to report this back to the country too.”

The two Japanese business investigators talked in hushed whispers with frustration, rage, and disdain shining in their eyes.

…

At the Court of Happiness, inside his room at apartment 302, Chen Jin was taking an inventory of his assets. He held his laptop in his left hand and a calculator in his right. What he wanted to calculate was mainly the cash that he possessed. The companies, development factory, houses, cars, and other tangible assets were excluded.

He wanted to see how much his cash flow was! He would calculate the smaller statements first, such as the profits from Forever Jewels. “It has been too busy at the company lately, so I brought over less gold. I’ve only been taking out 30 kilograms each month to Mom for her to bring to the shop and hand over to Chiu Wan-Ting to handle. These past few months were the low season. Sales of jewelry were not high. I could just barely maintain breaking even. What I earned was the money made from the sales of the 30 kilograms of gold. Multiply that by three months… The total income is about $25,000,000. As compared to the profits generated by the Wa-wah robot, this is negligible.”

To figure out just how much profit the Wa-wah robot generated for Chen Jin, he first had to calculate the total units of Wa-wah robots that were sold. The total was three million units. Sales of Wa-wah 1.1 had not yet started. Up to the present, the Wa-wah robots sold were all of the 1.0 version and totaled three million units.

Of those, the first million units were products that were manufactured before the shortage of core components. Of these one million units, 500,000 were sold as part of the promotions. His net earnings from each unit were $240. The remaining 500,000 units were sold at the normal price. His net earnings from each unit at that price were $555. In order to more easily calculate the profits from the two million units sold later, he assumed that the production costs of the hardware remained unchanged. His net earnings per unit were $555.

Originally, the imported brushless motor cost $310 per unit and the imported mechanical mobile parts cost $350 per pair. The purchasing cost of these two types of core components cost a total of $660. It was all saved and became extra net profits… The replacement parts produced in Haierfa were made of materials that were found by the robots for free. The production costs were zero.

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Adding the two categories of profits together, Chen Jin earned $1,125 per unit from the two million robots that were sold later. Hence, the personal net profits that he earned from the sales of the three million Wa-wah robots was 2.8 billion. Including the profits from the jewelry shop, his total profit was 2.9 billion.

His total profit was approximately three billion!

Of course, such a huge amount of cash would not all be found inside Chen Jin’s personal account. If that was the case, he would have to pay a personal income tax of 40% or more! Most of the money was placed in the company’s financial account as company funds to be used. If he wanted to transfer the money out for his own use, he would have to go through the financial department. Even if the money was his, as a company that was subject to regulations, the boss had no authority to misappropriate company funds on an unrestricted basis.

Besides, the earnings from the jewelry shop were all deposited into the bank card that was created using the identity card of “Uncle Qin.”

He also had to “purchase” the replacement core components. The brushless motor cost $280 per unit and the mechanical mobile parts $300 per unit pair. Multiplied by two million and that was a total cost of 1.16 billion. This money was directed to two bank cards created under two strangers’ identities. The money was not in the company’s financial account.

That meant that a total of 1.2 billion worth of funds were stored in Chen Jin’s three mysterious bank cards. Chen Jin could not casually use the funds from these accounts. Unless he made up a more probable reason… Like someone lending that sum of money to him.

The amount that could be displayed in the light of day, that could be used whenever he liked, came from legal sources, and were free from any issues, was only 1.7 billion. Obviously, this shrunk a lot from the original sum.

“But, I’ve easily realized the goal of ‘earning 100 million in a year’ that I’d boasted about to them. I used less than half a year to achieve that goal. They can never bother me again about finding a wife or going on blind dates.”

In fact, Chen Jin raised this matter to his parents in a somewhat boastful tone. Chen Gang felt as if he had received a blow. He had to admit that he had seriously underestimated his son. Chen Jin was not as useless as he thought. On the contrary, he was much more capable than Chen Gang himself. The money that he earned in this lifetime was still less than what his son earned in a week. Logically, he had no right to criticize him. However, he spoke in a heavy and sincere tone, and said, “Son, you’re more capable than me. You’re a successful entrepreneur and I have no right to criticize or scold you. But, I still want to say this. You have to act in a prudent and steady manner. Stay true to your conscience and don’t forget the responsibility that you carry. Remember this at all times: You’re not a wealthy billionaire, but the boss of a company with hundreds of staff! Your decisions will affect the livelihood of hundreds of families. No matter what you do in the future, you can’t only think about yourself.” Chen Gang’s expression became solemn and stern.

“Hmm… Dad, I’ll remember all that you said.” Chen Jin nodded with a very serious expression on his face.

As for his Mom, Chen Jin was most concerned with whether she would keep to their agreement. Would she really stop pestering him in regards to blind dates or finding a partner? He Li did not clearly state her opinion. With some disappointment, she wiped at the reddened corners of her eyes with her hands. Suddenly, she started sobbing. “Son, you’ve grown up, you have the ability to be independent now. You’re rich so you don’t want your mother anymore. Nobody will listen to my words anymore… Ah, a mother can’t make any more decisions for her son once he’s grown. I can’t manage your decisions or look after you any longer. Still, Su Yun is a good child. She’s considerate and sensible. In the future, I’ll let her visit me more frequently. If not, the house will feel empty and cold without any company when I’m retired.”

Chen Jin was exasperated. Mom is too delusional. Su Yun is merely her subordinate. She’s visiting frequently now because Mom’s training her diligently. When mom’s retired, it’ll be lucky if she even visits twice during New Year’s or other festivals. Why would she even visit every day?

Naive. Mom’s thinking was really too naive. How could she still not know anything about human nature after spending half her life in a government career? However, Chen Jin kept his thoughts to himself. In any case, he could make his own decisions regarding marriage. That was enough.

…

Finally, Chen Jin completed his inventory.

With a huge sum of funds nearing three billion in his possession, Chen Jin had no lack of money at all. He decided to start the second project and make another product under Xing Hai Technologies that would far surpass the cleaning robot!