Chapter 749 Compromise
Tang Wanxin was silent. He was the one responsible for Delong's situation, and he was fully responsible for it.
"Lao Wu..."
"Okay."
Tang Wanli interrupted the brothers.
"The matter has been settled. There is no point in being beaten by Lao Wu. Now I have recruited you all here to discuss a solution."
"Brother, is there any other solution?"
Tang Wanchuan He said helplessly, "The total assets of Delong Group are now only about 40 billion, and it is already insolvent.
In this case, besides bankruptcy, what other good options do we have?"
Tang Wanping nodded in agreement.
"There is still a way." Tang Wanli told Xu Liang's conditions.
Tang Wanxin said: "I have thought about this problem before. The reason why he wanted to acquire Delong is most likely because he took a fancy to Delong's industrial layout.
He made money from finance Too much money has been paid, and although Delong’s debt is huge, it is not an extraordinary figure for him.
“Xu Liang has this idea, and other institutions have similar ideas. Maybe we can get better terms from someone else? "Tang Wanchuan said.
"Brother, since he is willing to accept all Delong's debts, what are we waiting for? It is only right to get rid of this big burden as soon as possible. "Tang Wanping said.
He is willing to bear the current losses and pursue Delong's long-term interests. "
"Did he really say that? "Tang Wanchuan said.
Delong's industrial assets are operating in a very healthy manner. Although the profit margin is not high due to incomplete integration and insufficient R&D investment, it does not generate too much debt.
“Brother, is there any chance for Deron to make a comeback? "Tang Wanchuan said.
They also don’t want all of Delong’s industrial assets.
"So you plan to agree to Xu Liang's request?"
"It's very simple. The debts of Delong Group are too huge. Those large global conglomerates will not take the risk of losing tens of billions to eat up the entire Delong Group." Long.
Tang Wanli looked at the youngest brother in the family, who was also the best.
Tang Wanxin felt bitter in his heart as he looked at the eyes on him. Third brother is right. Now Delong is like a sinkhole to our Tang family. If we don't get rid of it, our Tang family will be swallowed up by it sooner or later. "Tang Wanchuan echoed.
"Then why does Xu Liang want to acquire Delong while taking on losses?" Tang Wanping asked.
This is in their best interest.
As long as the debt is stripped away, Delong's industrial assets have huge development prospects.
As the helmsman of Delong Group, Tang Wanxin has both vision and ability.
Tang Wanchuan and Tang Wanping looked at each other, each seeing the confusion in the other's eyes.
"Eldest brother, third brother, fourth brother, if I could make Delong turn a profit, we wouldn't be where we are now."
"It's basically impossible."
De The liabilities of Long Industrial Assets are basically structural debts arising from mutually guaranteed loans.
After thinking for a moment, Tang Wanxin shook his head.
They will wait until the Delong Group goes bankrupt and then acquire part of the Delong Group's industrial assets at a minimal cost.
The main reason why Xu Liang is different from them is that Hanhua basically earns all his money and he has autonomy.
Tunhe is the world's largest tomato paste manufacturer.
“Yeah.”
Zhongyan Co., Ltd., Shancheng Industrial, Denong Group, etc. also occupy important positions in their respective fields.
If it were in the United States or other countries with relatively complete financial laws and regulations, the outcome might be different.
After Tang Wanxin finished speaking, Tang Wanli and others thought for a moment and basically agreed with what he said.
Moreover, he is in finance and has many ways to optimize Delong's debt. ”
The only thing missing is that he was born in China.
Tianshan Co., Ltd. is the third largest cement manufacturer in China.
Although Delong’s industrial assets and liabilities are huge, It is not a production and operation liability.
Although Delong has huge debts, Hunan Torch is China's largest heavy-duty vehicle manufacturer and the largest auto parts manufacturer.
This huge industrial asset is an industrial territory that we have worked hard for more than ten years to build.
Alloy Co., Ltd. is the largest manufacturer of electromechanical tools in China, and after acquiring Maori Company, it will also become the third largest manufacturer of garden tools in North America after acquiring the other party's channels and technology.
I think this is what Xu Liang really values.
Tang Wanli glanced at them, "Have you ever thought about why a shrewd person like Xu Liang would be willing to accept the insolvent Delong Group?"
"Lao Wu knows best whether Delong can turn over," Tang Wanli said.
“Why?”
“Brother, I can’t think of a better way.”
Tang Wanxin’s expression darkened and his tone became sad.
“When my mother left, she gave her many instructions, saying that she did not ask us how much money we had, but only asked us to be safe and healthy.
I still remember this sentence in my heart. "
Tang Wanli's face changed slightly.
He instantly remembered Xu Liang's last words when his brothers left the Hanhua Center.
The cabinet decided to arrest people in the patrol room. , the central bank collected loans, and Delong was administratively closed.
Tang Wanli's voice was hoarse, "Then sell it."
"Brother, Lao Wu, is there really no room for redemption at all?" Tang Wanping couldn't help but said.
"Yes, brother. Can we sell some of our assets to get cash flow to repay those urgent debts, and then pay back the rest slowly?" Tang Wanchuan said.
"If this could be solved, Lao Wu and I would have done this long ago, and we don't have to wait until now." Tang Wanli sighed.
The four brothers were silent.
——
Although the Tang brothers decided to sell the company, the Delong Group was not something they could just sell.
Within Delong International, the four brothers’ combined shares are only 33.7%, even though they have one veto power.
But when it comes to major matters such as buying and selling a company, the consent of more shareholders is needed.
In the conference room of Delong International Headquarters, No. 1155, Yuanshen Road, Shanghai.
Forty-three shareholders with voting rights of Delong International gathered here.
Among them are veterans such as Huang Ping, Zhang Yeguang, and Nie Xinyong who accompanied Delong out of Xinjiang Province, as well as recruits such as Zhang Long, Gao Qi, and Zhou Xinchang who joined later.
Everyone was gathered together. Normally, they would talk loudly and eloquently, but today everyone bowed their heads and looked solemn. Except for a few coughs occasionally, there was no movement.
As Delong's senior executives, they have a clear understanding of Delong's current predicament.
I also deeply feel that this big ship is slowly sinking.
As Delong shareholders, once Delong collapses, they will not only have to suffer huge financial losses, but also have to consider where to go to beg for food next.
It’s strange to be in a good mood.
The slightly chaotic footsteps interrupted everyone's thoughts and attracted everyone's attention.
With everyone’s attention, the four Tang brothers strode in.
"Mr. Tang...!"
Everyone stood up to say hello.
The words were full of earnestness. They eagerly hoped that Tang Wanxin, the strong man who had led Delong to this day, would come up with a solution and lead Delong out of the predicament.
Tang Wanxin strode to the central position. Tang Wanli sat on the first place on his left hand, and Tang Wanping and Tang Wanchuan sat on his lower left.
The first person on Tang Wanxin’s right hand is Huang Ping, executive president of Delong International Strategic Investment Co., Ltd. and president of the industrial fund, who holds 6.7% of Delong International shares.
Huang Ping’s next boss is Wang Hong, who was a director of Northern Securities and also holds 6.7% of the shares of Delong International Strategic Investment Co., Ltd.
Next to Wang Hong is Zhang Yeguang, the legal representative of Deheng Securities Co., Ltd. who also holds 6.7% of Delong International shares.
The three of them hold the same shares as Tang Wanli, Tang Wanchuan and Tang Wanping, which are 6.7%.
According to the tradition of China's board of directors, the power exceeds that of the management.
Huang, Wang and Zhang are undoubtedly the three giants within Delong.
Tang Wanxin's profound gaze slowly swept over each director, as if to imprint their appearance in his heart.
His performance made everyone around him secretly wonder what the big leader of Delong was thinking.
“Everyone, please sit down.”
Tang Wanxin waved his hand.
Everyone sat down with different thoughts.
“Recently there have been a lot of rumors about Delong outside, and there are also many institutions that are collecting debts from us Delong. More people, including us at Delong, are very concerned about whether the Delong Group is really like the outside world. As rumored, it is insolvent and on the verge of bankruptcy
I have brought you all together today just to give you a solid foundation. "
Everyone was stunned for a moment, with different expressions.
They originally thought that they were called over anxiously this time to discuss how to solve Delong's current predicament?
Unexpectedly, Tang Wanxin not only failed to follow their ideas, but also wanted to show off his family fortune?
For a while, they couldn't figure out what Tang Wanxin was thinking.
"It has been 11 years since Delong developed in 1994.
Over the past eleven years, we have been united and worked hard, and the company has developed rapidly. Now it has more than 500 affiliated companies and nearly 300,000 employees. It is currently the largest financial and industrial complex group in China.
With book assets of nearly 120 billion Chinese dollars, it is one of the top large-scale conglomerates in the world.
All of this is the result of your hard work. .
I, Tang Wanxin, would like to sincerely thank you for your contribution to Delong.”
After saying that, he stood up and bowed deeply to everyone.
Everyone felt the sincerity in his words, and Huang Ping said hurriedly while being surprised.
"Mr. Tang, you are too polite. Without the platform of Delong, we would not have achieved what we have now."
"Delong's success has created our success, and Delong’s current success is all due to Mr. Tang’s wise leadership.”
“Mr. Tang, Delong is our common home.”
...
Every word you say to me, most people are showing their loyalty.
But the few people who knew Delong's inside story looked on with cold eyes and sneered secretly in their hearts.
Tang Wanxin saw this and felt a little guilty.
After signaling everyone to calm down.
"Thank you all for your love for Delong and for me. I, Tang Wanxin, feel sorry for you. Over the years, Delong has not developed well, but instead its debts have piled higher and higher, to the point where it is now irreversible.< br>
This is my fault, I, Tang Wanxin, apologize to everyone.”
As he said that, Tang Wanxin bowed again.
(End of this chapter)