The long-awaited Tianxing Private Equity Fourth Phase settlement day arrived on July 13th.

A week ago, major trade frictions escalated.

The price of London gold surged by $162 per ounce, causing domestic gold prices to exceed 410 yuan. It was celebrated by world-renowned financial media such as the Wall Street Journal and the Times as the real gain of the greatest gold heist of the century, which was about to be revealed.

Domestic media were quick to act, curious to find out whether Lu Liang’s hand in untapped ventures, due to his focus on manufacturing compact cars for the past several months, was truly as sharp as reported by foreign media.

JPMorgan Chase attempted to bribe various media outlets to suppress news of their losses, emphasizing Lu Liang and his Tianxing Private Equity’s substantial gains during the gold price surge to divert public attention.

This led foreign media to wildly speculate that Tianxing Private Equity had profited over 5 billion dollars.

Some claimed the profit was over 10 billion dollars, and there were even more outrageous claims of profits exceeding 100 billion dollars.

The truth was being debated, but all speculations would be settled today.

The Fourth Phase settlement report would provide insight into the total profits Tianxing earned during the gold price surge.

The initial asset scale of the Third Phase Private Equity was 5 billion dollars, with last month’s net value at 1.97, representing total assets of 9.85 billion dollars.

The initial asset scale of the Fourth Phase Private Equity was 3 billion dollars, with last month’s net value at 1.91, representing total assets of 5.73 billion dollars.

Let’s use 5.73 billion dollars from the Fourth Phase Private Equity as the basis.

Assuming the settlement amount is 6.5 billion dollars.

That would mean combining 770 million dollars plus 1.078 billion dollars, 1.848 billion dollars approximately represents Tianxing’s profit in this gold price surge.

There may be some discrepancies, as Tianxing Fund can’t only be focused on London gold.

It’s rumored that the offshore RMB slipped below the 6.9 mark, also influenced by Tianxing, though the difference should not be significant. .

After all, London gold is Tianxing’s main battleground.

"This time, it might leave quite a few people disappointed."

Lu Liang’s office had a huge floor-to-ceiling window offering a good view of the whole Lujiazui street, the distant Pujiang River, and even further across the river from the Bund.

He overlooked the ground, the entrance crowded with people, as security nearly turned out in full force, blocking media vehicles and miscellaneous individuals at the door.

Lu Liang held the Fourth Phase Private Equity settlement report to be distributed at the upcoming settlement meeting.

The final net value of the Fourth Phase Private Equity was set at 2.376, representing total assets at the time of settlement totaling 7.128 billion dollars.

It also represented a total profit of 3.3552 billion dollars in the gold price surge and RMB decline.

"Should be... probably won’t."

Sun Yutao was momentarily stunned, as he prided himself on his eloquence but suddenly lost his ability to organize words.

An annual yield of 137.6%, even deducting the initial 3% entry fee and 35% tiered management fee.

The comprehensive yield still reached 89.4%.

An investment of 100 million dollars netted 89.4 million in a year.

This wasn’t fictitious asset appreciation, but solid cash profits—what more could one ask for.

Even Vanguard, hailed as the best in fund yields, only had a yield of 29.4% last year.

The legendary Buffett, managing Berkshire, only achieved an 18.56% yield.

Moreover, they couldn’t disperse dividends annually, holding major positions in the financial market. In the event of massive cash-outs, their yields could be halved in minutes.

"Go ahead and greet them, I’ll join later."

Lu Liang smiled, not putting Sun Yutao in a difficult position.

He knew too, that an annual profit of several billion, near 10 billion dollars, was the upper limit of speculation.

Beyond that, if aiming for several hundred billion, near 100 billion dollars annually like other funds, it could only be through investment.

Just like Buffett’s Berkshire, which holds long-term positions in Apple, Microsoft, Coca-Cola, and Johnson stocks.

With Lu Liang’s current strategy, it’s guaranteed he can’t hold long-term; he can only make swift entries and exits in the speculative market.

After Sun Yutao left, Lu Liang opened the safe and took out the Tesla equity transfer agreement provided by JPMorgan.

He hesitated, then put it back.

Billion dollars wasn’t a small sum. Even if Lu Liang could gather it, it would likely drain his resources.

Moreover, if the United States detected his intention to acquire Tesla, it could prompt mandatory measures.

Thus, this agreement could only be temporarily shelved until there was an opportunity for its public unveiling.

Moreover, Lu Liang wouldn’t use his own money alone; he would pull several major institutions in to help manage.

Such a "good deal," Lu Liang wouldn’t keep to himself.

Nearing ten o’clock, Lu Liang turned and entered the dressing room, changing into a suit picked out by Tian Xi in Macau for him.

"Dressed up, still quite handsome." Lu Liang smiled, standing in front of the mirror, admiring himself.

While casual clothes were comfortable, everyone desired beauty. He recently took a liking to suits.

And the custom-made suit had an excellent texture and style. Once accustomed to it, any discomfort was negligible.

"Good eye, I really like this set." Lu Liang casually took a photo and sent it to Tian Xi.

The net-addicted girl seemed online 24/7, immediately responding: "Of course, my taste is always good."

However, it seemed like Lu Liang suddenly vanished. His sent message sunk without a trace.

"Jerk, read but no reply." Tian Xi scowled, knowing Lu Liang couldn’t have missed her quick response.

She decisively grabbed a large teddy bear, treating it as Lu Liang, venting her frustration intensely.

At precisely ten o’clock, in the Tianxing Private Equity meeting room.

"Friends, good morning."

Lu Liang appeared smiling, striding in briskly.

He reached the head of the long oval table, facing the distinct Eastern and Western faces seated.

On the left were Shen Peng, Zhu Hu, and Guo Changguang, while on the right were Su Shimin, Wilson, and Jeffrey.

At the ends of both sides sat Little Wang, Lei Jun, Flannery, along with Liang Wenhu and Li Junwei.

Everyone who should be there but shouldn’t be there was present today.

Seat arrangements didn’t relate to status, but rather the subscription amounts in the Fourth Phase Private Equity.

Like Little Wang and Lei Jun, having participated in Third Phase Private Equity Fund subscription.

Fourth Phase Private Equity had equal foreign and domestic institutional shares, and they symbolically invested a couple of ten million dollars.

There was Flannery from General Motors, who took advantage of the North American launch of the foreign version of Tiangong by choosing this day to negotiate business with Lu Liang, likely aiming to participate in the Quantitative Fund.

Lu Liang smiled, casually unbuttoning his suit and rolled up his sleeves, bowing slightly: "Thank you all for accepting the invitation despite your busy schedules. I extend my sincere gratitude on behalf of the Tianxing Private Equity Fund..."

First-timer Li Junwei glimpsed an unexpected expression.

In his imagination, Lu Liang representing Tianxing Private Equity at meetings signified: ’I say, who agrees and who opposes,’ with a strong stance.

Little Wang seemed to notice his confusion, explaining with a smile, eager to teach: "It’s always courteous first, then authoritative."

Before Lu Liang arrived, he’d heard this Hong Kong native was about to take the post of Tianxing Quantitative’s general manager.

Being the acknowledged good friend, he considered himself half the host, morally obliged to help clarify doubts.

In the next moment, as if to prove Little Wang’s claim, Lu Liang pulled out the chair and sat down full throttle.

It’s known that the chairs in meeting rooms are normally unused, as everyone sits upright, treating it seriously.

"Having finished formalities, I assume you’re tiring of listening. Let’s delve into the main topic and discuss what interests everyone."

Lu Liang appeared relaxed and casual, legs crossed, gesturing with two fingers. Xu Jiawei and Sun Yutao on either side understood and distributed a settlement report to everyone.

He paused for several seconds, smiled, and said: "As customary, there’s 20 minutes for review. If you have queries, raise them. No issues, just sign and authorize."

As invited observers, Liang Wenhu and Li Junwei, along with Flannery, similarly received a Fourth Phase Fund settlement report.

Upon noticing the 137.6% annual yield, their pupils enlarged in shock.

Some were amazed at earning 4.128 billion dollars with merely a 3 billion dollar principal in a year.

Others were astonished at the management fees from tiered charges, as the 137.6% yield indicated a 35% management fee.

4.128 billion dollars in total profits, Tianxing Foundation would first take 1.4448 billion dollars, leaving 2.6832 billion for investors.

Li Junwei suddenly felt enlightened, understanding Lu Liang’s casual leaning against the chair, legs crossed without formal politeness.

After all, earning investors such substantial returns in a year, even putting feet on the table wouldn’t face any complaints.