Chapter 268: This Is a Magical Company!
From Newman to the port on the northwest coast, aside from BHP's railway, there was also Rio Tinto's.
Rio Tinto also operated iron ore mines near Newman.
Their railway network stretched more than 700 kilometers.
After BHP publicly declared that it had no interest in Lianying Mining's 1.2 billion-ton iron ore deposit, and even clearly stated it would not allow Lianying to use its railway system, the public began to pay even more attention.
Why did people care so much about whether BHP would allow Lianying Mining to use its railway?
Because the railway from Mount Newman to Port Hedland passed directly by the Chiche Mountain Range, right next to the newly discovered Lianying deposit!
If BHP permitted Lianying to use its railway for transport, the value of that mining right would soar.
With significantly reduced investment, the deposit could be commercially developed.
That alone would be a massive positive signal for the market.
Naturally, Lianying's shareholders had been pinning their hopes on access to BHP's railway.
Unfortunately, things didn't go their way.
If there had even been a hint or rumor of a possible cooperation between BHP and Lianying, it could have sent the stock price soaring.
But to say that BHP had no interest at all in a 1.2 billion-ton deposit—was that really possible?
Absolutely not.
Currently, BHP's three producing iron mines—Newman, Yandi, and Goldsworthy—had a combined proven reserve of 2.9 billion tons.
This meant that the newly discovered reserve by Lianying already accounted for more than one-third of the reserves in all three active mines.
That was enormous.
After BHP announced it had no interest in acquiring Lianying, some industry experts voiced understanding.
After all, BHP still had an undeveloped C mining area, with a reserve of 4.5 billion tons of iron ore.
If expansion were needed, C area would naturally be the first choice.
While the public continued to buzz, attention also turned to Rio Tinto.
Their railway, like BHP's, played a decisive role in Pilbara's iron ore trade.
Hamersley Iron, Rio Tinto's largest subsidiary, was the group's main profit engine.
It was also the largest iron ore producer in Australia, operating six developed iron mines.
But those six mines combined only held 2.1 billion tons of proven reserves.
A newly discovered deposit with 1.2 billion tons of ore was undeniably attractive.
Alba, CEO of Rio Tinto, summoned his trusted lieutenant Eric.
"Have you been following the Lianying news?"
Eric sat down, crossing his legs casually in front of Alba. "These days, people talk more about Lianying than us or BHP. Of course I've seen the news. The media won't shut up about it."
He smirked. "You have to admit, those Chinese know how to hype things. A while back, the whole world reported on Tallego. Now Lianying is back in the spotlight."
"You think that's part of their strategy?" Alba raised an eyebrow.
"Maybe. Who knows?" Eric shrugged, not really caring about the media narrative. But he was still bitter about Tallego.
They had been confident and prepared to win the Tallego copper-gold mining rights.
It was the world's largest undeveloped copper-gold deposit, with more than 30 million tons of copper ore.
Given the international rise in copper prices, it was an asset anyone would fight for.
And besides the copper, there were also 1,300 tons of gold—more than most national gold reserves.
It was basically a vault of precious metals.
But in the end, their plan had fallen apart.
And that still stung.
"Thankfully, the media is all over BHP this time. We've been spared the spotlight," Eric said, happy to see BHP under pressure.
"Some media outlets have been digging into our position on Lianying," Alba noted.
"We have no ties to them. And our business in Mongolia—no one even knows about that. What do they expect us to say?" Eric asked, puzzled.
"We have a railway too," Alba said, lifting his coffee and taking a sip.
"They want to know whether we'd consider partnering with Lianying?" Eric said, now understanding the angle.
People cared about Lianying's stock.
A cooperation with Rio Tinto would obviously be a huge boost.
"A 1.2 billion-ton deposit is still incredibly valuable," Alba admitted.
When he first heard the number, he froze for a moment.
He never imagined that this mysterious Chinese company would actually find such a deposit in Pilbara.
And to uncover 1.2 billion tons in just a few months?
It was shocking.
At times, it made him wonder: what couldn't they do?
"As far as I can tell, the 1.2 billion-ton figure is real," Eric said.
He'd verified with the exploration team. The data Lianying released was legitimate—no tricks.
But he quickly shifted tone, "Looking at the borehole data they published, the high-grade ore is less than half of the total. Most of the ore is low-grade—around 40%."
"Even if just half is high-grade, that's 600 million tons," Alba said. He knew exactly what that meant.
That kind of deposit could support a mine producing 100 million tons per year.
If Lianying had the capital to build it, they could pose a serious threat to both Rio Tinto and BHP.
Previously, the media hyped that the arrival of a Chinese mining company would challenge the two giants.
It sounded laughable.
Most media outlets said it with a sarcastic tone, exaggerating for clicks.
But now, Alba was starting to feel a hint of danger.
"BHP just held a press conference. They said they won't buy Lianying, nor cooperate," Eric said, leaning forward to meet Alba's gaze. "If we approached them now, maybe we could reach a deal. Co-developing the Chiche mine could benefit both sides."
Without BHP, people believed Lianying had only one path forward—working with Rio Tinto.
Only these two companies had the strength to develop a mega deposit like that.
That's why the media had been probing Rio Tinto for their stance.
If they, too, rejected a partnership, it would crush investor confidence in Lianying.
Eric saw Alba fall into thought and added, "This is a great opportunity for us."
Alba didn't think long.
He looked up, his gaze intense.
"Based on what we know about Li Tang, do you think he'd agree to work with us?"
"This is Western Australia. He has no choice," Eric said confidently. In this region, their dominance was nearly absolute.
In iron ore trade alone, Rio Tinto even outpaced BHP.
"You don't know Li Tang well enough," Alba said, shaking his head.
"You've met him?" Eric asked.
"No. But I've heard a lot."
Alba thought back to what Viduka had told him after returning from Mongolia.
They had reached an unofficial agreement with Mongolia's Ministry of Industry and Trade—everything looked solid.
Then came that young man from China.
He launched a trade war.
Willing to lose tens of millions of dollars just to fight to the end. No compromise.
His stance was so firm, Mongolia was the one who had to give in.
Because of that, Rio Tinto's grand plan for Tallego in Mongolia died before it was born.
Alba didn't believe someone like that would compromise easily.
Even if both Rio Tinto and BHP refused to cooperate, he probably wouldn't care.
The public simply didn't understand who they were dealing with.
"What kind of person is he?" Eric asked.
"He's like silica," Alba said, using a geological analogy.
Iron ore always contains silica—an impurity.
Too much of it weakens the ore quality.
Silica is also hard—difficult to remove, difficult to manage.
A hard, stubborn stone.
Eric nodded. "So... not someone easy to work with."
"Don't even try. It would just be trouble," Alba said, making his position clear.
When choosing partners, they always evaluated whether the other company's leadership aligned with their culture and way of doing things.
If there was a clash in personality, cooperation would fail.
"So if we're not working with him, should we, like BHP, make our stance public?" Eric asked.
"No need for a press conference. Just leak the message through other channels," Alba replied. "People are eager to hear our position, so let's give them what they want."
Very soon, media outlets began reporting: based on high-level sources inside Rio Tinto, the company had internally reviewed the possibility of cooperating with Lianying—but ultimately decided not to proceed.
As for rail access, their top priority was to protect their own interests and create value for shareholders and the board.
In the short term, there would be no public statement about the use of railway transport.
With the two mining giants making back-to-back announcements, it was clear they had no intention of reaching any form of cooperation with Lianying Mining.
There was no denying it—this was a heavy blow to Lianying Mining's future.
Now the capital market fully understood the situation.
This up-and-coming mining company, a so-called unicorn in the mining sector, had been soaking up attention recently.
But faced with giants like BHP and Rio Tinto, it remained fragile and vulnerable.
A few public remarks had already knocked this emerging star back down to earth.
Lianying Mining's stock price had risen steadily over several days, from 0.1 AUD to 0.14 AUD.
Everyone thought the rally would continue for quite some time.
Yet now, it had stalled.
Even so, the price of 0.14 AUD didn't fall after the statements from BHP and Rio Tinto.
After all, the 1.2 billion tons of iron ore reserves were real—they wouldn't disappear overnight.
Still, the market's enthusiasm for Lianying Mining had cooled significantly.
Observers were caught off guard. No one expected BHP and Rio Tinto to respond to Lianying so directly.
BHP's stance was understandable, given the friction over the Tallego copper-gold mining rights.
But what was up with Rio Tinto?
Were they teaming up with BHP to squeeze out foreign companies?
Such tactics weren't friendly, and certainly not in line with how major corporations should behave.
From another perspective, people suddenly became curious—how would Lianying Mining react? What would their next move be?
Reporters from various media outlets once again gathered outside Lianying Mining's modest office building, hoping to get a statement.
But the front door remained tightly shut. Occasionally, an employee would slip in or out, always in a hurry.
None of the company's executives had ever given a single interview to the press.
They didn't seem to care about the storm outside.
Apparently, BHP and Rio Tinto's declarations didn't move them at all.
So what exactly were they planning?
Across the ocean, the news that Lianying had discovered 1.2 billion tons of iron ore in Pilbara finally made its way to China after a short delay.
The Harbor Financial Times picked up the explosive story almost immediately.
Once published, it caused a massive stir.
Especially in the steel industry—news spread like wildfire and spirits soared.
Iron ore is the lifeblood of industry. No industrial sector can function without steel.
There was once a time when, to support national industrial growth, citizens melted down their pots and pans in the name of progress.
That shows how crucial steel is—it's the backbone of modern industry.
With continued economic development, China had become the world's second-largest importer of iron ore, with a growing momentum to surpass Japan.
Back in the 1960s and 70s, Japan's economic boom had also driven the rapid growth of iron ore exports from Australia and Brazil.
Now, in the new century, the market landscape had changed.
The China Iron and Steel Association had already recognized the serious challenges facing iron ore import trade.
Recently, they'd held numerous meetings—large and small—to bring together steel companies and discuss strategies for future iron ore imports.
With the year-end approaching and 2003 just around the corner, they had to establish clear direction for the coming year's trade.
The association president and several vice presidents were all in attendance.
Major iron ore importers like Haigang Steel, Yanjing Steel, and Shagang Group were also present.
"In the first three quarters of this year, and up to now, our total iron ore imports are close to 100 million tons," said Bao Yanyao, the keynote speaker, with a solemn expression.
"I expect that by year-end, total imports will exceed 110 million tons. Based on this, we can confidently say China will surpass Japan to become the world's top importer of iron ore."
This was a number the industry leaders present could already sense.
Each company's demand for iron ore had continued to grow steadily.
And every steel company had already set their production plans for next year—without exception, they were planning to increase both capacity and output.
Ramp up production, make more steel!
Why? Because market demand for steel was overwhelming.
In short: demand exceeded supply.
This strong downstream demand pressured the upstream supply of ore, creating tightness in the iron ore trade.
Everyone was scrambling to get iron ore off the giant cargo ships.
This naturally led to competition.
Some smaller firms couldn't compete with giants like Haigang or Shagang.
Whether dealing with suppliers or port authorities, large companies had better connections and could secure shipments more easily.
This created an unfair competitive environment.
The purpose of today's meeting was to solve that problem and agree on a collective strategy.
"It's already certain," Bao Yanyao continued, "that our iron ore imports will rise significantly again next year."
"Our goal is to ensure stable steel supply while creating a fair and healthy competitive environment."
"We've always stuck to the long-term contract mechanism. That means each steel company must plan their annual production in advance and sign full-year contracts with the major iron ore suppliers, confirming both quantity and price."
One of the vice presidents elaborated on the traditional practice and said, "But in today's rapidly changing market, this model is becoming too rigid."
Everyone understood what he meant.
In the past, large companies followed long-term contracts to do business with the Big Three iron ore producers.
Prices weren't negotiated directly but were based on the deals made by Japan and Korea.
It was all part of planned economic production.
The benefit was stability—fewer fluctuations and easier management.
But the downside was clear: each company's iron ore volume was fixed for the whole year.
"We've been wanting to increase output mid-year, but we can't—iron ore supply can't keep up," said one company leader.
"Now that market reforms are deepening, we can't cling to outdated practices," another vice president said with a smile.
"I'm pleased to announce a major change: we've decided that iron ore import trade must also be reformed—to better align with market principles!"
"How will that work?" someone asked.
"Under certain conditions," the vice president said clearly, "companies will be allowed to negotiate temporary pricing directly with the major suppliers."
In his view, this would greatly help companies manage operations more flexibly.
There would be no need for all steelmakers to pool their import needs and negotiate massive contracts collectively.
In other words, everyone would now be free to negotiate their own deals!
It was a historic transformation.
Previously, only long-term contracts were seen as legitimate.
Spot trading had existed but was unofficial, even frowned upon.
This reform would legitimize both long-term and spot trading—moving the industry fully into a modern market model.
No one could yet predict just how massive the impact would be.
In the years to come, this change would give birth to the iron ore futures market—and huge speculative profits.
"We've reviewed this proposal internally and believe it fits today's market conditions," the vice president explained.
Another person added, "We'll need to draft regulatory terms, but this could be implemented in the first half of next year."
"I support it!" someone raised their hand.
In truth, as demand had surged in recent years, many companies had already started buying spot ore on the side.
They had no choice—steel output couldn't keep up with demand.
If long-term supply fell short, they had to buy spot ore—even if it wasn't officially recognized.
This new policy simply aligned with what was already happening in practice.
It was the natural direction of the market.
One by one, attendees raised their hands in agreement.
The formal meeting concluded.
But Bao Yanyao didn't adjourn just yet. Leaning on the table with both hands, he smiled and chatted casually:
"Ladies and gentlemen, before we wrap up, let me share something off-topic. A news story from Australia is making waves. Have you seen it?"
"Lianying Mining discovered a 1.2 billion-ton iron ore deposit!" someone blurted out.
"We've spoken with BHP and Rio Tinto reps at their Harbor offices—they're paying close attention. That's a major discovery."
"Australia is a mining powerhouse, with massive reserves. But in recent years, exploration spending has dropped. Finding a deposit of this scale is extremely rare."
"Has anyone noticed—this company, Lianying Mining, is publicly listed in Australia. It was just acquired earlier this year. After the acquisition, they immediately invested 100 million AUD into Pilbara exploration—and found this super deposit!"
"The buyer behind the acquisition is actually a Chinese company!"
"Really?"
"Which domestic steel company made the investment?"
"Chairman Lu, was it your firm—Haigang Steel?"
"I'd heard about it beforehand, but we weren't involved. Haigang's focused on upgrading operations. We've been working with Sanjing and Nippon Steel—not investing in Australia."
"Then which company did it? Come on, share your thoughts and experiences!"
"Once the mine starts producing, make sure you supply us plenty of ore—and maybe give us a discount!"
"A deposit of that size would be top five in China!"
"If production hits 100 million tons a year, that could meet our entire national demand."
"If that happens, iron ore prices might actually fall."
"This news is really encouraging for us!"
From the discussions, it was clear many attendees didn't yet know the full story.
Some didn't even know who the mysterious Chinese buyer really was.
Many people were busy with their own production and operations, scrambling to meet annual output targets, heads spinning and nerves frayed—who had time to worry about someone else's affairs?
Especially when it involved an overseas investment in Australia.
Information didn't travel as fast back then. Many hadn't even heard about it yet.
Seeing how interested everyone was, Bao Yanyao spoke again: "Some entrepreneurs and colleagues here may already know—the domestic company that acquired Lianying Mining is Li Tang Shengshi Holdings, based in Yanjing."
"Li Tang Shengshi Holdings?"
Many voiced their confusion.
It was clearly an unfamiliar name.
"One of Li Tang Shengshi Holdings' subsidiaries is Zhongcheng Mining—they're the ones who discovered the Tallego copper-gold mine," someone explained.
That news had once shaken the entire global mining industry.
"Oh—so it's them!"
"This really is a magical company!"
"They suddenly appeared, like Sun
Many people were busy with their own production and operations, running around frantically trying to fulfill their annual quotas—who had the time to care about someone else's business? Especially when it came to investments made all the way in Australia.
Information wasn't very accessible or fast at the time, and some hadn't even heard anything about it.
Seeing that many people were interested, Bao Yanyao spoke up again: "Some entrepreneurs and colleagues here may already know this—the domestic company that acquired Lianying Mining is Li Tang Shengshi Holdings, based in Yanjing."
"Li Tang Shengshi Holdings?"
Several people repeated the name with doubt in their voices.
Clearly, it was a name unfamiliar to most of them.
"One of their subsidiaries is Zhongcheng Mining. They're the ones who discovered the Tallego copper-gold mine," someone clarified.
That news had once echoed throughout the global mining industry.
"Oh—so it's them!"
"This is a magical company!"
"They popped up out of nowhere, like Sun Wukong leaping out of a rock, and suddenly started stirring up the mining world."
"Who's the big investor behind this company?"
As soon as Tallego was mentioned, everyone seemed to recall the story.
It had clearly left a deep impression on them.
"The person behind this company is someone named Li Tang," Bao Yanyao added, unable to help but sigh. "I've never had the chance to meet this rumored extraordinary figure."
"I've met Li Tang once," Lu Chenyu spoke up when everyone turned toward him with curious expressions. "He's a very young guy. When I saw him, he was still working at Wukuang Group—looked very ordinary. I remember it was at an event held by the Nonferrous Metals Association. He was being honored for some innovation in copper smelting. Never would've imagined he'd reach the heights he has today."
"You mentioned earlier that he contacted you to discuss Lianying Mining's acquisition?" Bao Yanyao asked, recalling a brief comment Lu Chenyu had made earlier during the group discussion.
"When he got in touch with me, the acquisition had already been completed," Lu said, trying to recall the conversation. "He said he was planning to invest 100 million AUD into exploration and asked if Haigang Steel was interested in getting involved."
"You turned him down?" Bao asked.
"I've been swamped lately," Lu said with a smile. "But honestly, I was really interested in the project he proposed. If I'd had the time, I would've flown to Western Australia myself to inspect it."
"Well, now the results are in. Li Tang's company has discovered a 1.2-billion-ton iron ore deposit in Western Australia!" Bao said with a meaningful smile. "Chairman Lu, any regrets?"
"Not exactly regret," Lu answered, smiling as well, still relaxed. "But I will say—I'm really amazed. Li Tang is truly remarkable. If I ever get the chance, I'd be very willing to cooperate with him and invest in one of his projects."
"Many of you here today represent steel companies that already have their own iron ore bases. I'd like to ask—what do you think about this domestic company discovering a 1.2-billion-ton mega iron ore deposit in Australia?" Bao looked around the room.
Especially at the leaders from Kapok Steel Group, Anshan Steel Group, and others who operated large-scale domestic iron ore mines.
After all, steel mills were built on the foundation of iron ore.
"There's no denying that a 1.2-billion-ton iron ore reserve discovered overseas is a massive achievement for our entire iron and steel industry."
"It's truly a milestone event."
"In the past, no one in our country ever thought of going overseas to prospect and apply for mining rights."
"People were used to working within their comfort zones, unfamiliar with the outside world, and therefore afraid to venture out. But now we've realized that going global is inevitable!"
"Worldwide, proven iron ore deposits have an average grade of 49%. Our country ranks among the top five in iron ore reserves, yet our average grade is only about 34%."
"Many of our deposits are difficult to process. Our Kapok mine, for example, is polymetallic. Back when foreign experts studied it, they concluded that even though we had tens of billions of tons of reserves with decent grades, the ore couldn't be refined. We went ahead anyway, and back then, our recovery rate was just 60%. A lot of the ore ended up as waste. In recent years, we've thrown all our technical resources at the problem and finally reached an 80% recovery rate. But for vanadium, titanium, and other metals, the recovery rate is still poor."
"In Australia, many of their iron ores can be sold directly after extraction and smelted straight into steel. We can't help but admit—nature has favored them."
"That's why going global is inevitable. But we lack experience."
Everyone shared their thoughts and had good things to say about the project.
Still, it was clear that they didn't seem too eager to try it themselves.
"To my knowledge, this is Li Tang Shengshi Holdings' first time investing and acquiring assets overseas. Some people are just bold and willing to take risks—and that's exactly the kind of leadership we need right now."
Bao Yanyao could tell the room wasn't all that enthusiastic, so he turned to Lu Chenyu again. "Chairman Lu, does Haigang Steel have any plans to invest overseas and develop your own mines?"
"Not at the moment. Our focus is still on the downstream steel processing segment," Lu replied honestly. After all, his company was already fully committed.
Automotive sheet steel was their next big push—a highly profitable product line.
The kind of profit margins iron mining couldn't match.
"Why focus on downstream instead of upstream?" Bao asked. As head of the steel association, he wasn't necessarily more knowledgeable than the business owners.
"It's simple," Lu said. "You know that the landed cost of imported iron ore is only a little over 30 USD per ton."
Everyone understood immediately.
Especially the companies that owned their own mines—they had a lot to say.
"For us, operating in inland China means paying high transport costs even on imported ore. Otherwise, we'd also switch to imports. As things stand, just selling raw iron ore usually results in a loss. Luckily, we also produce steel—those profits help cover the mining losses."
"Imported ore really is cheap."
"We're honestly amazed by companies like Li Tang Shengshi Holdings. To go overseas and find a 1.2-billion-ton deposit—it's incredible. But to develop and utilize that mine is another story."
"The question is, can they bring production costs below 30 USD per ton? That's what they'll have to figure out."
"Labor abroad is way more expensive than here. The only path to success is high automation, very high-grade ore, and easy mining conditions. All those factors need to align before you see a profit."
"Getting all of that right is extremely hard."
"Still, we wish them success!"
"If our own people manage to produce iron ore, maybe they can help supply us at better prices!"
…
"President Niu, several media outlets—China Central TV, Mining Daily, Financial Times—have all requested interviews with you," said Secretary Xiao Wang, reporting to Niu Fu.
"Why are so many media outlets suddenly trying to interview me?" Niu was puzzled.
"They said they want to hear more about Lianying Mining."
"Lianying Mining? The one in Australia?" Of course, Niu knew about it—they had indirectly invested in Lianying through Nanyang Investment.
"Yes."
"Did something major happen? Did something go wrong?" Niu sat up straight, suddenly uneasy. "Why hasn't Li Tang said anything if something serious happened?"
"I spoke with some of the reporters and did some digging—it's not bad news. Actually, it's good."
Xiao Wang knew Niu rarely had time to read financial news, especially foreign reports.
But this matter directly involved them.
"Good news?" Niu relaxed. "Let's hear it."
"This has been all over the Australian media for several days. It's only just being reported here in China, mostly in financial circles," Xiao Wang explained. "Mining Daily, CCTV—they're just catching up, but they're all very interested in the story."
"Just tell me what happened," Niu urged.
"Lianying Mining discovered a 1.2-billion-ton super iron ore deposit in Pilbara," Xiao Wang said bluntly.
"What?!"
Niu shot to his feet.
1.2 billion tons!
That number alone was enough to make the heart race.
He stared wide-eyed at Xiao Wang. "Say that again—how much?"
"1.2 billion tons of iron ore reserves. It was just announced by Lianying Mining," Xiao Wang replied. He had rarely seen Niu this shocked. "The news has already made big waves in Australia."
"Did you contact Li Tang to verify it's true?" Niu still found it hard to believe.
"I didn't speak to Li Tang directly, but we've reached out to his company, and everything checks out."
"He found a super deposit in just a few months?" Niu did the math. The last time Li Tang visited to discuss the investment was only a few months ago.
"This news is stirring up a lot of discussion in Australia. It's safe to say, investing in Lianying Mining was a huge success. It also proves our exploration ability and investment foresight to the world."
Seeing that Niu was in a good mood, Xiao Wang added, "The domestic steel industry heard first. Reporters are already interviewing experts in the field—everyone's excited about the news."
"We, as investors, are only now finding out? From secondhand reports?" Niu, though thrilled, couldn't help but scold. "When Li Tang needed money, he came running—'President Niu this, President Niu that.' Now that he's found a mine, he can't even call to say congrats?"
"I think President Li is just too busy," Xiao Wang tried to explain.
"He probably is. Still, he shouldn't forget about us!" Niu grumbled, though his tone was more amused than angry. A smile crept onto his face. "Since this is a win for Li Tang Shengshi Holdings, the media should be talking to them—not us."
"They tried. But apparently, per Li Tang's orders, his company isn't accepting interviews. The media traced the connection back to us as one of Nanyang's shareholders."
"That guy… always focused on the work. But you know what? It's smart—it avoids unnecessary hassle."
Niu paused for a moment and then said, "Tell the reporters we'll talk later. We don't know more than they do right now. Once we get detailed info, we'll speak."
"Understood."
Once Xiao Wang left, Niu began pacing his office, his face beaming.
To be honest, Wukuang Group's 150 million AUD investment in a foreign iron ore project was a bold, counter-trend move—especially considering current iron market conditions.
If Li Tang hadn't been the one to propose it, Niu wouldn't have agreed.
He had to pound the table at the board meeting just to get the funds.
If the investment flopped, he'd have to pack his bags and leave.
150 million wasn't pocket change.
But now, it seemed the investment was anything but a loss.
"Li Tang, that kid… he's the real deal."
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