Chapter 750 Da Yuan understands
Everyone saw this and felt a sense of uneasiness in their hearts.
Soon their uneasiness was confirmed.
Tang Wanxin, who straightened up, took a deep breath and said in a deep voice.
"As of now.
The debt of Delong's financial sector has accumulated to 34 billion Chinese dollars, and the debt of the industrial sector has accumulated to 23 billion Chinese dollars.
Delong Group has total liabilities of 57 billion Chinese dollars.
Delong’s actual assets are only about 40 billion Chinese coins.
In other words, we still have a debt of 17 billion Chinese dollars that cannot be filled. ”
As soon as this statement came out, there was an uproar in the conference room.
Everyone knew that Delong's financial situation was very bad, but they never expected it to be so bad!
What puzzles them even more is that when Delong is in trouble, the wise approach would be to try to hide the true financial situation so as to facilitate the introduction of strategic investors.
All the capital that had previously negotiated with Delong either backed down or the conditions would be more demanding.
The discussion instantly filled the entire conference room.
Zhang Yeguang put down the information and looked at Tang Wanxin solemnly.
But this does not prevent Tang Wanxin from taking credit for himself.
Others also looked over, with questions in their eyes.
Basically everyone has one share.
Huiyuan, Sanwei Mining, JJ Disco, etc. are all capital acquisitions under Xu Liang.
Take a deep breath.
Zhang Yeguang secretly said, "Sure enough."
Xiao Yang, wearing gold-rimmed glasses, said sternly: "I assure you that every number in this document has been repeatedly calculated by our finance department, and there will never be any errors or omissions."
But even though he knew it, he still chose to expose it actively, which makes people curious about the reason.
Tang Wanxin waved his hand, and the secretary standing behind him stood up and handed out the information he had prepared in advance.
The speaker has a slender face, wears a pair of gold-rimmed glasses, has high brows and narrow eyes, and his eyes are particularly sharp.
"Mr. Tang, is Delong's financial situation really as bad as you said?"
As soon as these words came out, it was like a bomb, causing all the shareholders of Delong to change their expressions.
Tang Wanxin said solemnly: "I understand your confusion. The reason why I tell you Delong's balance sheet is mainly based on two points.
In fact, Hanhua Capital's fund shares are In order for the acquisition to go smoothly, Xu Liang gave the directors of Delong Group a little sweetener.
“The conditions of Hanhua Capital and Mr. Xu Liang are very simple. They will fully take over all the debts of Delong Group so that everyone can exit safely. .
Coupled with the huge capital owned by Xu Liang and Hanhua, they are the only ones in the country who can acquire the Delong Group, which is insolvent and has a net debt of 17 billion Chinese dollars.
First, put an end to those investment institutions that pretend to be fake, or just want to take advantage of the situation, which will not help solve Delong's predicament.
Zhang Yeguang’s words are also what everyone wants to ask.
"Mr. Tang, you mean that Xu Liang and Hanhua will not give us a penny, but they want to take away the entire Delong Group?"
Second, I have found it Found an investment institution willing to take over Delong. ”
"This is the balance sheet of the entire Delong Group prepared by Lao Xiao. You can take a look at it."
Now that Tang Wanxin has taken the initiative to expose it, you can be sure that as soon as today's meeting is over, the true story of Delong will be revealed tomorrow. Word will get out about the financial situation.
As an old man from Delong, Zhang Yeguang couldn't help but ask immediately.
As the chief financial officer of Delong International, this is the guarantee he must provide.
"Xinyong, do you think with Delong's current situation, who else but Mr. Xu will take over this mess?" Tang Wanxin said calmly.
Buzz….
Zhang Yeguang's eyes quickly swept over Tang Wanli and Tang Wanping. Looking at their calm expressions, it was obvious that the Tang family had reached a consensus.
The reason why he took the initiative to expose the balance sheet of Delong Group was to dispel the chance of other directors within the company.
Tang Wanxin said calmly: "Everyone is familiar with the institution that acquired Delong Group. It is currently the world's largest private equity fund, Hanhua Capital, and Mr. Xu Liang, the third richest man in the world according to Forbes."
It is a pleasure to cooperate with both parties.
With such high debt, there are very few institutions willing to take over the Delong Group.
They will only waste our time, energy and wealth without bringing any benefit.
Everyone looked over and saw the rows of arrears and debts, which was shocking to see.
"Mr. Tang, I wonder which organization is willing to take over the Delong Group? What are the conditions?"
"Mr. Tang, I believe that with your ability and wisdom, you must be very clear. Providing this information at this critical moment will have a significant impact on Delong's subsequent financing!
But you still do it, I want to know the reason? ”
As the leader of Delong, Tang Wanxin will not be unaware of this situation.
In addition, at my strong request, Mr. Xu Liang agreed that the private equity fund under Hanhua Capital , will leave you with a certain share.”
Delong Group has had many transactions with Hanhua and Xu Liang before.
It may even be only Xu Liang who has strong capital.
Without this understanding, even if they were willing to sell Delong to Xu Liang, but others disagreed, their decision would still fail.
“This is not necessarily true. Among the companies currently in contact with us, whether it is JP Morgan or American International Group, their strength is greater than that of Hanhua Capital.
They may not be unwilling to take over Delong . Moreover, although Delong is in serious debt, our assets are scarce. Even if we want to sell them to Hanhua and Xu Liang, we must strive for better conditions.”
Nie Xinyong. Currently, he is the chairman, legal representative and general manager of Xiang Torch, one of the three old stocks.
Legal representative of Beijing Zongfu Real Estate, legal representative of Zhuzhou Torch Piston Pin Co., Ltd., and legal representative of Modu Heda Auto Parts Co., Ltd.
The legal person of Jingcheng Hui Keying High-tech Company, the legal person of Zhuzhou Xiang Torch Environmental Protection Technology Company, and the legal person of Jingcheng Jizheng Yuren Water Co., Ltd.
It can be seen from this long list of titles that he is a core executive within the Delong Group.
"I think Mr. Nie is right, Hanhua should be cautious in its investment!"
A fat man in a suit said.
His name is Zheng Rongxin, a supervisor of Hunan Torch.
“We should talk to Morgan and AIG first. If they really can’t come up with better terms, it won’t be too late to talk to Hanhua.”
For a time, Sixty-Seven Everyone agreed.
Tang Wanxin saw this and frowned slightly.
Like all large groups, power struggles are inevitable within Delong.
Anyone who knows Delong knows that ‘Da Yuan knows what he means’.
That was in May 1997, the Delong Board of Directors held a meeting at the Dayuan Hotel in Beijing.
Through this meeting, Delong established the ‘strategic line for industrial integration’.
The Tang brothers have always touted the "Dayuan Conference" as the "Zunyi Conference in the history of Delong's development."
The twenty-seven people who participated in the Da Yuan meeting were also jokingly called the "Twenty-Seven Da Yuan Generals" both inside and outside Delong.
These twenty-seven people are Delong's well-deserved leadership core.
But these twenty-seven people are divided into two major factions due to differences in region, management philosophy and other factors.
The largest faction is the old brother who came out of Xinjiang Province with Tang Wanxin when Delong started his family.
They were senior and powerful. Although they could not keep up with Delong's development needs in the later period, Tang Wanxin, who was nostalgic for his old feelings, still allowed them to occupy high positions. They can be called the 'old school' or the 'Western Region School'.
Most of the Delong 'veterans' in non-Xinjiang Province joined in the later years. Although there are some mixed results, they are generally better than those who were when Delong started. This group of people can be called 'renovators' Or 'Guannei faction'.
Those high-end talents who joined after Delong developed, undoubtedly preferred the 'Guannei School'.
The core of the conservative faction is Zhang Yeguang.
The representative of the reformists is Nie Xinyong.
What needs to be said is that there is also a centrist within Delong who are not party-minded and focus on business.
Although there are not many people, they have outstanding abilities.
The representative among them is Delong veteran ‘Huang Ping’.
Now that Nie Xinyong has raised the banner of opposition, he has naturally won the support of many "Guan Nei faction".
“Xin Yong, we have been in contact with Morgan and AIG for more than a day or two. Who doesn’t know what these foreigners have in mind?
Before Delong’s balance sheet was released, they Just keep lowering the price, and when the balance sheet is released today, do you think they will risk a loss of 57 billion to acquire Delong Group?" Tang Wanxin sneered.
Nie Xinyong’s face changed slightly.
The recent performance of Morgan and AIG does not seem like they can afford losses.
What's more, Delong's debt hole is too big.
I subconsciously wanted to mention state-owned enterprises, but I stopped talking.
He changes targets at will and fails to provide convincing evidence. It is easy for people to give the impression that he deliberately blocked the acquisition to satisfy his private purposes.
He turned his eyes and passed with a wink.
Zheng Rongxin saw this and immediately said: "Mr. Tang, even if Morgan and AIG fail, we still have state-owned enterprises."
"State-owned enterprises? Which state-owned enterprise is willing to bear Delong's 57 billion Chinese yuan debt hole?
Ning Haoning or Li Yaoxian?
Are they willing to risk their political future for Delong?
Not to mention the private enterprises, what is in their hands? The total working capital is less than one-tenth of Delong's total debt," Tang Wanxin said calmly.
His words silenced the atmosphere in the conference room.
Yes.
There are very few institutions that can bear the 57 billion Chinese currency hole of Delong Group.
Hanhua, which has a large amount of cash flow, may be the only one.
"Mr. Tang, is the total debt of Delong Group really 57 billion?"
A middle-aged man wearing black-rimmed glasses asked.
Tang Wanxin's face turned cold. As Delong gradually collapsed, he clearly felt that his prestige within the company was not as good as before.
In the past, who would have dared to question his decision so openly?
Chief Financial Officer Xiao Yang was about to speak, but was stopped by Tang Wanxin.
The opponent's gun was obviously aimed at him, so there was no need to let his old subordinates block the gun for him.
"Fu Zhong, do you suspect that I fabricated Delong's financial information?"
As the chairman of Shenyang Alloy Investment Co., Ltd., Fu Zhong is a die-hard "Guannei faction".
(End of this chapter)