Chapter 752 Chinese Enterprises Dongfang and Youlian
The Zhejiang Evening News even ignited the flames of opposition to takeovers with the title "Beware of the Emergence of Monopoly Capitalism".
Following this, the headline "Xu's Corporate Empire - The Birth of China's First Monopoly Group" also appeared on the TOM website.
As Xu Liang’s old enemy, Duan Yongji also jumped out restlessly and accepted interviews from more than a dozen media.
Openly opposed Xu Liang’s acquisition of Delong.
But just when Xu Liang was preparing to launch a public opinion offensive to safeguard his own interests.
Li Xueqin, chairman of Asia Star Bus, who once went on a hunger strike to collect debts, accepted interviews from Qianjiang Evening News, Shanghai Metropolis Daily and other media.
A hot article titled "The Duan Yongji Who Meddles in Other People's Business" will be released soon.
Sina reprinted it immediately, and Bing News also put it at the top of the news page.
The huge traffic of the two major websites immediately spread the news throughout the country.
"Not only, but also many."
For a time, the two factions became a pot of porridge.
——
Putting down the equity transfer contract in front of him, Jiang Xiaoyang couldn't help but sigh.
“Okay.”
Xu Liang nodded and said: "Delong's overall debt is too big, so they don't want to acquire it as a whole, but plan to acquire the fattest pieces of Delong Group.
Dong dong...
It clearly says JP Morgan, AIG, Zhongcai State-owned Enterprise Investment Company, Yinji Asset Management Company, Jia'an Asset Management Company, Wanxiang Group, Fosun Group, Huaxia Metallurgical Group, Founder Group, Seiko Group, and Modu Industrial Economic Guarantee Co., Ltd., China Resources Group, etc.
Besides, it’s more than 4 billion US dollars in debt, we can still afford it.”
Jiang Xiaoyang looked at the organization and looked surprised. .
For example, Tunhe Group and Xiang Torch.
"No, you are busy with the company's affairs. I will take care of these two people." He turned around and said, "Arrange their meeting until tomorrow afternoon."
"Look Look, Cao Cao is here.”
“What are you going to do?”
After bankruptcy, Delong Group will transfer to a state-owned asset management company. Round or flat, you can manipulate it as you like. ”
No matter how powerful Han Hua is, he is still just his godson.
“You still have a long-term view.” Jiang Xiaoyang smiled.
Jiang Xiaoyang couldn't help but said.
“This time we chose to acquire Delong with debt, and the losses were too great.”
Jiang Xiaoyang turned the topic to Delong’s acquisition again.
Those on the list are all top industry giants at home and abroad, state-owned enterprises and private enterprises.
“Come in.”
However, Delong’s acquisition will not be completed in a short while, I’m afraid we still have to wait. "
"These institutions all want to acquire Delong? "
Xu Liang nodded and waved. Lu Hui nodded to Jiang Xiaoyang, then turned and left.
The news about Li Xueqin seemed to turn on a button, and hundreds of reports defending Xu Liang appeared all over the country.
"Mr. Humphrey has already checked into the Peninsula Hotel, and the meeting time is scheduled for 9:30 tomorrow morning at the Hanhua Center office."
The foreign company will not say anything, just Those state-owned enterprises will drive us out.
“Have the arrangements been made by Standard Chartered?”
“Delong, the largest industrial group in China, never thought that it would be acquired one day.”
Jiang Xiaoyang put down the document.
Jiang Xiaoyang frowned and said: "With Delong's current debt, is there anyone who can compete with us?"
There was a knock on the door.
“If we don’t do this, do you think the higher-ups will support our acquisition of Delong?
She has just given birth and is full of energy now.
Xu Liang smiled and said: "Who made us the founding generation? Naturally we have to consider the issue of family inheritance.
"Mr. Xu, Zhao Guodong, CEO of Yinji Asset Management Company, Sha Zhenggang, CEO of Jia'an Asset Management Company , and called you at the same time hoping to visit you. "Lu Hui came in and said.
"How about I see them? I know the CEOs of both Yinji and Jia'an. "Jiang Xiaoyang said.
"Of course the soldiers came to cover up the water and the earth. "Xu Liang said with a smile.
"Feng Shui will turn, and you will come to my house next year. No matter how large the enterprise group is, no matter how brilliant the company is, one day it will be acquired or go bankrupt.
He took out a document and handed it over.
This is why I established a family office, a trust and a charitable foundation at the same time. ”
So, they will try their best to prevent our overall acquisition and make Delong bankrupt as much as possible.
This is the truth. Jiang Xiaoyang also understands it, but when he thinks of adding an additional four billion US dollars in debt , she still couldn't bear it.
This is four billion, which can completely build a top company like Kelong Supermarket or Huaxia Liquor Industry.
"How are you going to deal with Delong's debt?"
"It's very simple, consolidate the financial statements and then divest them all.
Turn the debt of Delong Group into the debt of Hanhua and Hongyan Debt.
In this way, we can use the taxes we should have paid to repay Delong's debt." Xu Liang affirmed.
To give a simple example, Hanhua earns US$100 million from the US stock market every year, but it needs to repay US$20 million in debt this year.
After subtracting $20 million from $100 million, the tax base is only $80 million. The short-term capital gains tax rate on the U.S. stock market is 35%.
Hanhua paid taxes of US$28 million, leaving a gross profit margin of US$52 million.
If the debt is not repaid, the tax base is US$100 million.
Then the tax rate of 35% is $35 million.
Gross profit remains at $65 million.
Gross profit decreased by US$13 million despite debt repayment.
But it paid off $20 million in debt.
There is a difference of US$7 million.
This 7 million US dollars is the money saved through financial operations.
In fact, the money Hanhua makes from the U.S. stock market not only has to pay short-term capital gains tax, but some may also involve state taxes.
So it can only be more than 35%, not less.
Calculated in this way, you will only earn more through financial operations.
According to the Delong Financial Sector’s total debt of 37 billion Chinese dollars and 4.48 billion US dollars.
And the total tax payment of 35% of short-term capital gains tax can save $1.568 billion in expenditures.
In other words, on the basis of ensuring sufficient revenue, the real debt that Hanhua needs to repay is US$2.912 billion, which is approximately 24.05 billion Huaxia coins.
“2.9 billion US dollars is not a small amount.” Jiang Xiaoyang was still a little distressed.
"Haha, you money junkie. Don't forget, the purpose of our acquisition of Delong Financial Assets is to supplement Hanhua's business sector, not to buy a few empty shells.
We took over Delong's debt and still abide by the previous contract. Of course, we will win the trust of institutional and individual customers. There is a high probability that they will be Hanhua's customers in the future.
In the short term, we will suffer a loss. , but in the long run we have gained valuable credibility
Ten or twenty years from now, today’s losses will be doubled.
Although Delong's financial assets are currently insolvent from a book perspective, A-shares have gradually improved since 2005.
After we complete the acquisition, we will adjust Delong’s asset structure.
Maybe we can not only wipe out the debt of 37 billion Chinese dollars, but also make a little profit. ”
Xu Liang knew very well that in the next three years, until the subprime mortgage crisis, it would enter the biggest bull market since the opening of the Chinese stock market.
At its peak, the Shanghai Composite Index exceeded 6,000 points.
In this bull market, you can make money by investing casually.
So he is not distracted at all from the 37 billion Chinese currency debt.
Thinking of Xu Liang’s ever-victorious investment ability, Jiang Xiaoyang also nodded in agreement.
“Is the integration of Delong’s financial assets still in accordance with the original plan?”
Xu Liang pondered for a moment and nodded.
The financial assets under Delong Group have two very special institutions.
One, China Orient Asset Management Co., Ltd.
Second, Youlian Strategic Management Research Center Co., Ltd.
China Enterprise Oriental is known as China's largest securities and industry research center and is Delong's core enterprise engaged in industrial research and financial services.
Its core competitiveness is to export the corporate growth model of ‘M&A + Industrial Integration + Capital Market’ that Delong is best at.
Delong has always appeared as a strategic investor, raising funds through shelling and listing, and then integrating traditional industries.
Delong has always wanted to extend this strategy and build Delong into a comprehensive financial holding group like CITIC Group.
China Eastern is the flagship of this financial fleet that has not yet surfaced.
At its peak, China Enterprise Dongfang had more than 500 professional industry researchers, many more than the number of people in Hanhua Global Investment Research Department.
Later, as Delong's business fell into trouble, many people resigned from China Enterprise Dongfang, but the airs remained.
After absorption and integration, it can greatly enrich the research capabilities of Hanhua Global Investment Research Department, especially the Huaxia Department.
The industry research reports accumulated by China Enterprise Oriental over the years will also greatly enrich the database of 'Snowball.com', which will not only increase the revenue of Snowball.com, but also allow it to truly become an investment bank. The most influential website in the field.
If ‘China Eastern’ is the flagship and helmsman of Delong’s financial fleet, then the ‘Youlian Strategy’ is the financial flagship itself.
In 2003, Delong established Youlian Strategy in order to integrate its financial businesses.
It has a team of industry research experts of more than 100 people, a team of account managers of more than 500 people, and more than 2,000 institutional customers across the country.
Youlian Strategy itself is a strategic alliance composed of a number of financial institutions and well-known research institutions including commercial banks, securities, trusts, financial leasing, and insurance, and is operated in accordance with the mixed financial industry.
Under this alliance are Jinxin Trust, Jinling International Trust, Xiyu Financial Leasing, New Century Leasing, Nanchang Commercial Bank, ZZ City Commercial Bank, Deheng Securities, Huaan Property & Casualty Co., Ltd., Oriental Life, etc. Dozens of financial institutions.
The scale is extremely large.
Hanhua’s integration strategy is simple.
Assimilate the structure of Youlian into Hanhua.
Four subsidiaries including Hanhua Securities, Hanhua Trust, Hanhua Financial Leasing and Hanhua Insurance were established.
Use these four subsidiaries to integrate the major financial institutions under Youlian Strategy.
It can also be seen at the same time.
In this integration strategy, banks are not involved.
Xu Liang knows very well that the current controls on Huaxia Banking Industry are too strict.
The behavior of Delong, who uses gray means to control banks, was fine when he was young, but once he gets older, all kinds of monsters and monsters will appear.
(End of this chapter)