Chapter 1012 BOE
“BOE has always insisted on developing its own technology to fill the technological gap in the country. It is a high-tech industry that needs support. Haven’t you Hanhua always invested in high-tech enterprises? BOE is just right for you.” Jiang Weiguo Road.
“We invest in start-up companies. BOE has been listed for many years.” Jiang Xiaoyang said.
Xu Liang: "Dad, I will take this information back and take a look at it. I will give you a result after reading it."
"If you really don't want to, don't force it."
"Yeah."
......
On the way back to the car after leaving my father-in-law's house.
“Do you really want to invest in BOE?”
Jiang Xiaoyang asked.
After so many years, she knows the man around her very well.
If he wasn't really interested, he wouldn't have brought the information back at all.
“I am indeed interested in BOE.”
“Then do you know that BOE is now capped?”
The so-called capped is the prefix of the stock. on 'ST'.
"ST" means SpecialTreatment. ST shares will serve as a reminder to investors when they buy them, telling them that there are huge risks in buying this stock.
All companies with hats are basically suffering serious losses or having various operating risks.
“I know.”
“You know and still want to invest?”
“Daughter-in-law, are we short of money now?”
"Of course not."
Hanhua still has nearly 33 billion US dollars on its books, and the undistributed profits lying in the fund are as high as 50 billion US dollars.
In other words, Hanhua’s cash flow exceeds US$80 billion.
Plus the equity assets held.
Nearly 100 billion US dollars.
And Hanhua also holds equity interests in hundreds of start-up companies.
So Hanhua is not short of money.
99.999% of companies in the world do not have as much liquidity as Hanhua.
“Hanhua’s size is already very large, and it is no longer appropriate for us to take huge risks and make short-term investments.
Long-term is the way to go.
After all, Hanhua is not a partnership company like Goldman Sachs or JP Morgan, but a company owned by our Xu family. If it really suffers a loss, the loss will be our own money.
We must be responsible for ourselves. "
Jiang Xiaoyang pondered for a moment.
"So you are optimistic about BOE? ”
“I am not optimistic about BOE, I am optimistic about all companies that work hard on research and development and master core technologies.
With a wide moat, it will not be easily replaced.
Although BOE has been struggling to make a profit, it is indeed constantly doing research and development and filling the domestic technology gap. Such a company is worthy of our investment.
It doesn’t matter even if it doesn’t make a profit for three or four years, as long as it is always on the right path, there will always be a time when we get huge returns. ”
Xu Liang has enough patience to wait for BOE to grow.
Jiang Xiaoyang nodded slightly, she would not question Xu Liang’s investment vision.
"Hanhua is here to invest?"
"Yes."
——
A black Mercedes-Benz business car turned down Zhongguancun East Road and parked slowly in a building The modern office building covered with silver-white glass curtain walls and shining in the sun stopped in front of the door.
The car door opens.
A middle-aged man with gray hair and a brown suit walked down.
Looking at the luxurious office building in front of me.
"Hanhua, I've heard about the name for a long time."
Huang Dongsheng watched for a moment, then strode inside with his secretary.
The hall is very spacious, with a small built-in landscape on the left and a seating area on the right.
Since Hanhua's Entrepreneurship Incubation Park moved to the Future Science City, although the space saved has been given to Hanhua Securities, Hanhua Insurance and other departments, it is still inevitably a lot deserted.
Come to the front desk.
The girl in black stockings wearing professional attire quickly stood up.
“Hello, welcome to Hanhua.”
“I would like to meet Mr. Xu Liang, CEO of Hanhua.”
"Do you have an appointment?"
"Yes."
"What is your surname?"
"BOE Huang Dongsheng."
"Please wait a moment .”
The girl in black stockings picked up the phone on the table and asked the president's office.
I quickly got a positive answer.
"Mr. Huang, please come with me."
Take them into the elevator and go straight to the top floor.
Huang Dongsheng also soon met Xu Liang, who had been waiting for him for a long time.
He quickly stretched out his right hand.
"Mr. Xu, I have heard about the famous name for a long time, and today I finally met the real person."
"Mr. Huang, you are very polite, please sit down." Xu Liang smiled and spoke kindly.
He has always been full of admiration for entrepreneurs with backbone, especially those who dare to spend money on research and development. BOE is also a company worthy of respect.
Although criticized by retail investors, it is well known that investment is risky.
Since you choose to invest, you have to bear this risk.
As soon as Xu Liang pulled away his hand, he suddenly noticed a sinister scar like a winding centipede on Huang Dongsheng's palm, and frowned slightly.
"Mr. Huang, I heard that your hand was injured by crushing a red wine glass at the dinner table?"
Xu Liang had heard a rumor in his previous life that Huang Dongsheng was negotiating with a Japanese supplier. Invited Japan to jointly build a factory in mainland China, but was insulted by the Japanese.
People have said: LCD panels, as a high-tech value-added precision industry, have extremely high quality requirements for production line workers. Chinese people simply cannot do it, and the quality cannot meet our requirements.
The Wanwan people can, after all, they have been ruled by Japan for 50 years.
Lao Huang couldn't bear this anger. He crushed the red wine glass in his hand on the spot, slapped the table and told the Japanese to go away, and swore that BOE would never use this company's goods again.
Afterwards, Huang Dongsheng went to the hospital and received seven stitches, leaving a permanent scar on his palm.
This scar is not only a pain for him and BOE, but also a pain for the Chinese panel industry.
Seeing the conspicuous scar on Huang Dongsheng's hand, Xu Liang couldn't help but admire him and became more understanding and tolerant of BOE's persistence.
Investing in BOE is destined to be a business that will not make much money or even lose money within ten years.
Because data shows that since BOE’s listing, it has raised nearly 100 billion yuan in private placement and bond issuance, which is equivalent to half of its market value. Its total share capital has increased from 550 million shares to nearly 40 billion shares. It is so crazy. .
This does not include policy subsidies and borrowings from national and local governments. If all are added, the total investment in more than a dozen panel production lines will exceed 400 billion.
But this is normal. Samsung suffered losses for 12 years before making a profit.
Wanwan's company suffered losses for 10 years before making a profit.
BOE is no exception.
However, Xu Liang is not short of money, and he has enough patience to wait for Huang Dongsheng to cultivate BOE into the world's number one panel company in his memory.
Seeing that he kept staring at the scar on his palm and directly pointed out the origin of the scar, Huang Dongsheng did not hide it and admitted it generously.
“Mr. >
If I were younger, I might even beat up Japanese people. ”
“Mr. Huang has a charming temperament that is admirable.
Please have a seat. ”
After thanking each other, the two parties took their seats respectively.
Huang Dongsheng acted vigorously and resolutely. After sitting down, he placed the information he had prepared in advance in front of Xu Liang.
"Mr. Xu, this is our latest operating information and financial report of BOE. Please take a look at it."
"Mr. Huang is really quick to talk."
"Everyone's time is precious, save it if you can." Don’t waste it.”
Xu Liang smiled and nodded.
"Then let me take a look first."
"Mr. Xu, please."
Xu Liang picked up the information and read it carefully.
BOE’s predecessor, Jingcheng Electronic Tube Factory, is an old military enterprise with a glorious history and one of the 156 projects aided by the Soviet Union.
In 1960, the output value reached 338 million, and the net profit turned over to the country was 119 million. In the early 1960s, this military factory was once the largest electronic tube factory in Asia.
Later, in order to support the third-line construction, the entire electronic tube factory including people and equipment was moved, and its strength was seriously weakened. In addition, in the 1980s, electronic tube technology began to be replaced by semiconductor technology, and the factory's efficiency began to decline.
In order to make a living, the electronic tube factory established a joint venture with Panasonic. However, the Japanese not only blocked the core technology, but even withheld and defaulted on dividends.
Thousands of retired employees in the factory all made solid contributions to the defense industry and cutting-edge equipment breakthroughs when they were young.
But in the early 1990s, they could not even get a full meal. They could only wear masks and old hats and go to the vegetable market near Jiuxianqiao to pick up cabbage gangs that were unwanted by the vendors.
Huang Dongsheng entered the electronic tube factory after graduating from college in 1981. He worked in the factory for ten years and saw all this. Just when he was about to find another way out and follow the trend of doing business overseas, when.
The old factory director found him and hoped that he could serve as the director and lead the electronics factory out of trouble, but Huang Dongsheng firmly refused and insisted on leaving.
The old employees in the factory came out to persuade Huang Dongsheng to stay.
Do you want our old masters to pick up the cabbage gang again?
You can't leave, we are willing to work with you.
It was these words that made Huang Dongsheng completely change his mind. When the army was defeated, he was ordered to be in danger, and he led BOE to stage a wonderful drama of PlayerUnknown's Battlegrounds!
Huang Dongsheng did not have a state-owned enterprise like MBO. In the early days of starting his business, he personally took the lead in spending 5,000 yuan and led the whole factory to raise 6.5 million yuan. He began drastic reforms, breaking the past big pot rice and fully marketization. ……
In just a few years, BOE gained a new lease of life, landed on the Shenzhen Stock Exchange, and made profits for twelve consecutive years.
Until the year before last in 2005, when the panel cycle adjustment and product prices plummeted, BOE suffered a loss of nearly 1.6 billion, losing all the money it had earned in the previous twelve years in one go.
Last year BOE once again recorded a loss of nearly 1.8 billion.
Making 200-300 million yuan and losing more than 100 million yuan, Huang Dongsheng has really felt desperate in the past two years. For a man who is not even fifty years old, half of his hair has turned white.
In order to get out of the predicament, he found four domestic color TV companies and planned to work together to make a big one.
However, the loose business alliance was disintegrated by the Japanese people's almost teasing divisions, inserting another knife into Huang Dongsheng's chest.
However, he did not give in, nor did he leave BOE in despair. He was still thinking of ways to break the situation.
He has deep feelings for this company that he has struggled for half his life. He has joined it since he graduated from college in his twenties. He has witnessed its glory, trough, and new life, and it has long become a kind of him. Spiritual sustenance.
Looking at Xu Liang who was concentrating on flipping through the information, Huang Hongsheng felt uneasy.
He knows BOE’s current miserable situation better than anyone else.
Moreover, BOE's losses have just begun. According to the experience of foreign manufacturers, this kind of losses will continue for many years.
So he searched around and couldn't find any institution willing to invest in BOE except for the support from above.
If he was rejected by Hanhua again, he wouldn't know what to do for a while.
Wow...
Xu Liang put down the information.
"How much investment does Mr. Huang hope to get?"
(End of Chapter)