Chapter 115: People who are biased usually don’t realize their bias!

What did Xu Deming and Xu Wanting give money to Xu Junzhe for?

Naturally, they wanted Xu Junzhe to develop and succeed in the shared electric bike business.

Xie Bingyan didn’t know about this before but now she does.

She also knows one thing: Xu Junzhe’s reason for starting the shared electric bike business was to compete with Xu Mo.

And now, what does Xu Deming mean?

“How much did he give you?” Xie Bingyan asked.

“Fifty million!” Xu Junzhe said, noticing Xie Bingyan’s displeased expression and not daring to say more.

“Fifty million… He wanted you to develop the electric bike?” Xie Bingyan stared at him.

Junzhe nodded, hesitated for a moment, and then continued, “Dad also wants me to learn management at Fengxiang Jewelry. Eldest Sister has agreed!”

He wanted to bring Xu Wanting in for support and solidify the Fengxiang Jewelry arrangement. The electric bike project was beyond saving now, and continuing to invest in it would be meaningless.

He went on, “So, the shared electric bike project is on hold for now. Dad hopes I’ll gain experience at Fengxiang Jewelry.”

Junzhe didn’t mention that Xu Deming wanted him to prove his abilities with the electric bike first, then compete with Xu Ankang at Fengxiang Jewelry. Instead, he jumbled the sequence to downplay the failure of the shared electric bike project.

They probably have already seen the news. If they say he failed, it will impact his status, and Xu Junzhe absolutely doesn’t want that to happen.

But these words, heard by Xie Bingyan now, were quite harsh.

She had thought that once things blew up, Xu Deming would stand by Xu Mo’s side, supporting his own son a bit. But it seems that hasn’t happened.

Rumor has it that he still hasn’t given a single cent to his own son.

The Eldest, Xu Wanting seems to be the same.

Xie Bingyan hadn’t expected this turn of events, and for a moment, her breathing became heavier.

“So now, does the company still have any money?” Xu Manni, more concerned about her own assets, quickly asked.

Xu Junzhe looked at her, filled with guilt. “There are still some assets from the electric bike project that need to be recovered and mortgaged. But this portion isn’t substantial.”

“How much is left?” Xu Pandi asked quickly, not expecting Xu Junzhe to fail.

Junzhe hesitated for a moment, feeling guilty. “Probably… around thirty million. But we need to repay user deposits first, otherwise, it will completely blow up.”

“Thirty million? Right now, the owed user deposits amount to sixty million! So, in just a few months, not only did our invested money go down the drain, but we also incurred losses, at least thirty million or more, is that right?” Xu Manni quickly calculated.

Junzhe nodded. “That’s about right.”

Currently, tens of thousands of user deposits still haven’t been refunded, requiring up to sixty million in funds. Even if Xu Junzhe retrieves all the electric bikes, it’s unlikely to cover the debt.

They invested nearly a hundred million, plus the money from Xu Deming, resulting in total losses. It can be considered a significant financial loss.

As for the money Xie Bingyan provided, it’s safe to say it’s gone without a trace.

At this moment, both Xu Manni and Xu Pandi felt short of breath. This was their hard-earned savings, amounting to tens of millions.

Xu Manni might manage, being a minor celebrity, as her money isn’t hard to earn. However, Xu Pandi’s money is much harder to come by.

She’s a lawyer, earning several hundred thousand a year is already good; now facing tens of millions in losses, it’s like her personal treasury has been emptied!

Now they’re feeling upset is quite natural.

Junzhe knew they were upset and hurriedly said, “Third Sister, Fourth Sister, rest assured. Dad has already asked me to manage Fengxiang Jewelry. When I have money later, I will definitely repay you first! And for Mom’s losses, I will definitely earn it back first!”

If he didn’t say so, it would be fine. But saying this now made everyone even more upset.

Xu Mo only used tens of thousands to start a business, and eventually successfully cashed out 5 billion, which shocked the country.

At the time, many media outlets were reporting on this matter.

Xie Bingyan did indeed threaten that Xu Mo would go bankrupt. Xu Manni and Xu Pandi also made threats; if Xu Mo sold the company and claimed it had nothing to do with them, they would deny it to the end.

However, Xu Mo made money, a lot of money—up to 5 billion, filling his coffers.

Why is it that with Xu Junzhe, the losses are so severe?

Everything lost without a trace?

Xu Junzhe’s project had support even from Xu Deming, who provided funds. Yet, Xu Mo’s family never sponsored a single cent.

This disparity is hard for everyone to accept.

At this moment, Xu Junzhe also felt wronged. It’s all Xu Mo’s fault. Otherwise, he would have successfully raised funds long ago. Where would the risk of the funding chain breaking occur?

The articles on Weibo and the Economic Times were obviously written by Xu Mo. He must have been pushing behind the scenes, otherwise, the news wouldn’t have spread so quickly.

Now, all he could do was pray for forgiveness from Xu Manni, Xu Pandi, and the others.

“I’m going back to my room first! Junzhe, you explain to your Third and Fourth Sisters what happened!” Xie Bingyan seemed unwilling to listen any further and turned to go back to her room.

“Yes,” Xu Junzhe replied, looking dejected and listless.

…

Soon, the news began to spread.

It not only reached the Xu family villa in Beijing but also Xu Wanting and Xu Deming. Upon hearing the news, they were also surprised.

On this day, Xu Xuehui rushed back to Xiahai City. She looked distraught and dispirited, apparently not having gained any results from meeting Xu Mo.

When Xu Xuehui saw the news, she couldn’t help but feel slightly surprised.

“Xu Mo already knows about the money you gave to Junzhe for his startup! Dad, Eldest Sister, you gave money… he seems to know that too!”

“What?” Xu Deming and Xu Wanting were surprised again.

Xu Xuehui nodded. “I saw him at school! Xu Mo seems very aware of all this! Now Junzhe’s bankruptcy… seems to have been orchestrated by Xu Mo!”

Xu Deming had never considered such a thing.

In his view, Xu Junzhe had always sided with Xu Mo, always speaking up for him. Logically, Xu Junzhe and Xu Mo should have a good relationship.

They even attended the same university and are still studying there, so there’s no reason for such a big incident to occur.

“Besides, Xu Mo has already exited the shared bike market,” Xu Deming continued, “I thought Xu Mo wanted to pass the market to Junzhe, so I decided to give him some money.”

“But their relationship… seems different from what I imagined.”

“Why, Xu Mo?” Xu Deming asked.

Xu Xuehui glanced at her father and sighed softly.

In the past, Xu Deming rarely dealt with family matters. He was busy, occasionally traveling for work, and spent only a few days at home. So, he wasn’t particularly familiar with their relationship.

Regarding his favoritism… It seems Xu Deming wasn’t particularly aware of it either.

“People who are biased usually don’t realize their bias!”

Of course, perhaps it’s also subconscious forgetting. After all, they never liked Xu Mo much before, and now their relationship with him isn’t good either.

Compared to Xu Mo, Xu Junzhe seems more obedient.

So subconsciously, Xu Deming did what he did giving money to his stepson. In his heart, Xu Junzhe is also his son.

Xu Xuehui didn’t know whether to expose this matter or not. After thinking about it, she simply said, “Now Xu Mo hates all of us, including Junzhe! The bankruptcy of the shared electric bike project should have been within his plan! He predicted this project before and analyzed the risks involved. Unfortunately, none of us saw the huge crisis hidden in it!”

Upon hearing this, Xu Deming frowned.

He had previously predicted the crisis inside, but to him, it was nothing major. As long as he, Xu Deming, was willing, he could easily support Xu Junzhe.

After all, a couple billion in assets was just a drop in the bucket for him.

But what he hadn’t expected was Xu Mo’s behind-the-scenes manipulation.

What’s even more crucial is that Xu Mo knew about all these things!