Chapter 183 183 [Exposed? 】
Luo Qihong has sold off all 21% of the shares of Zhaoan Real Estate Company held by Luo Qihong, and at the same time acquired 14.93% of the shares of Zhaoan Real Estate Company held by Zhao Qicheng, and then sold them again, with a total of 100 million funds withdrawn. 68 million yuan, of which the profit is 78 million yuan.
The profit from the equity taken from Zhao Qicheng was only more than 2 million yuan, which was far less than the profit from the equity held by Luo Qihong himself.
In addition to the 135 million yuan in dividends from the investment projects of De'an Securities Investment Company, Luo Qihong spent another 10 million yuan to raise 310 million yuan to pay the entire balance of Wheelock Company.
At this point, Luo Qihong’s own cash has become 70 million yuan, and he owes Bank of East Asia 320 million yuan. The debt of Siu On Real Estate Company has also reached 140 million yuan, and the debt ratio is close to 30%.
These data show that Luo Qihong has achieved good results since 1981. As long as his personal debts are cleared and the debt of Zhaoan Real Estate is reduced to 100 million yuan, Luo Qihong can take a breather.
But soon, Luo Qihong thought of bargain hunting after the big slump. Zhaoan Real Estate Company had to reserve a large amount of funds for bargain hunting, so it had to go to war again.
Zhao Qicheng has taken control of Yonghua Company, and its market value has stabilized at 200 million yuan. The purge within the company has also stopped, and he has begun to sort out Yonghua Company's debts according to Luo Qihong's wishes.
Zhao Qicheng was very courageous and persuaded the landlord association Gao Kaiquan and Yiren Real Estate Company Lin Luoxun to let Yonghua Company issue new shares to him. As a result, his shareholding reached 40%, becoming Yonghua Company. The largest shareholder of Hua Company.
Of course, such a shareholding is not afraid of anyone's challenge, even people like Lin Luoxun and Gao Kaiquan.
However, Zhao Qicheng's private debt has also increased significantly, and the private company has stopped some projects, but it is worth it, after all, he got a company with a market value of 200 million yuan.
Zhao Qicheng's ability is average, but he is very aware of current affairs. Even if he has a grudge against Luo Qihong, he dares to use Luo Qihong's suggestions. Of course, this is decided after careful consideration.
Office of Zhaoan Real Estate Company
Chen Zhilong submitted a piece of information about the medium-sized real estate company Jianian. The content is about the development of Jianian Real Estate Company in Southeast Asia and Hong Kong in recent years.
Jianian Real Estate Company was listed in the bull market of 1972. In 1973, it began to move overseas and develop the capital city of Kuala Lumpur, Malaysia. It continuously sold off various assets in Xiangjiang and transferred a large amount of funds.
In 1973, the oil crisis broke out, the world economy declined, Malaysia's rubber and rice exports dropped significantly, sales in Subang City were unsatisfactory, and development plans were slow. As a result, Jianian Real Estate Company's profits fell year after year, recording only 4.4 million yuan in 1977.
By the late 1970s, when Xiangjiang's economy recovered, major Chinese-owned real estate companies had already purchased a large number of properties and land at low prices during the city's downturn. At this time, when Carnival Real Estate returned to Xiangjiang, it no longer had the original location, can only be reduced to a medium-sized real estate company.
The current Jianian Real Estate Company has withdrawn a large amount of funds from Southeast Asia. Although it has not been able to develop large sites, it has a large number of small sites, which is a bit of a tactical strategy of "quality is not enough, quantity is needed".
"The debt ratio of Jianian Real Estate Company is very high, as high as 78%, and it is still increasing." Luo Qihong said to Chen Zhilong, Cheng Jianshen and Kang Wenyi after reading the information.
Luo Qihong has no interest in this kind of medium-sized real estate company that is heavily in debt. If he hadn't mentioned it at the beginning, his people would not have submitted such a report.
"Peng Guozhen, the owner of Jianian Real Estate Company, is a very capable person. He has always wanted to regain the position that Jianian Real Estate Company had when it was first listed in 1972, so he is so radical." Chen Zhilong said seriously.
"The boss wants to acquire Jianian Real Estate?" Kang Wenyi asked.
Luo Qihong leaned back in his chair and said with a gentle smile, "I am not interested in a company with such a debt ratio, but some properties under Jianian Real Estate are quite good."
The three people immediately understood. Luo Qihong's intention was to take advantage of the opportunity to acquire some property land.
Cheng Jianshen persuaded, "Boss, didn't you say that it is not suitable to acquire properties for the time being?" "I did, but some properties are cheap enough, such as industrial buildings." Luo Qihong spread his hands and said, "The rent is completely It can pay the bank interest, which is a good project.”
Cheng Jianshen nodded and said, "Jiannian Real Estate Company does have a lot of newly built industrial buildings in very good locations in Yau Tong and Kowloon Bay."
"We can do it at a low price The price is lower than the market price, but the quantity to be acquired is larger," Chen Zhilong said. "The current debt ratio of Jianian Real Estate Company is so high that it must be eager to withdraw funds and repay those bank debts."
Luo Qihong Weiwei. He nodded and said, "Leave this matter to Jianshen. The Finance Department will spend 10 million yuan. The loan amount cannot exceed 50% of the property itself. According to the current price of industrial buildings, it should be possible to acquire 4-6 industrial buildings."
Cheng Jianshen thought for a while and responded, "According to the data, Jianian Real Estate Company has 9 newly built buildings. Can we acquire them all? If we acquire them all, the price can be lowered."
"How much capital is needed?" Luo Qihong asked without hesitation.
For Zhaoan Real Estate Company, 10 or 20 million is not a big sum. What Luo Qihong is interested in is that the bank loan business has not tightened yet. By 1983, banks will tighten the loan business. At that time, Loans are not that easy to get.
“Twenty million yuan is enough.” Cheng Jianshen did some calculations and said.
"Okay, I will let the finance department prepare the money." Luo Qihong waved his hand.
“Boss, there are many real estate companies with excessive development momentum in the market recently. The debt ratios of these companies are generally not low. In addition, the current local market is not very good, and there are already signs of sale. "Chen Zhilong reminded.
Chen Zhilong saw that Luo Qihong had made a lot of profits from Yonghua Company, and Cheng Jianshen had taken away some of his power, and he immediately wanted to use other projects to get his power back.
Kang Wenyi saw some signs, but he was the weakest among the three, and he did not have Luo Qihong's trust, so he couldn't compete with him at all.
But he saw that Luo Qihong didn't want to acquire any more real estate companies at all.
"Boss, I think the company is not suitable to acquire other real estate companies at the moment. There are two reasons."
"One is that Zhao'an Real Estate Company has reached the target value, and the other is that the current city market During the downturn, newly acquired companies may be acquired. If you have excess funds, you can invest in stock market securities or buy some properties to increase the company's market value and enhance the company's strength."
Chen Zhilong looked at Kang Wenyi who suddenly spoke up. This person has always been a little transparent. Why did he think of rebuttal today? Do you want to take advantage of the opportunity to decentralize power?
Luo Qihong did not give Chen Zhilong a chance to speak out, saying, "I think what Manager Kang said is very reasonable. The company should observe the market situation first, but Director Chen should not relax and continue to collect information from peer companies. There may be good opportunities in the information."
Chen Zhilong swallowed what he said. Luo Qihong's meaning was obvious. He did not want him to dominate, otherwise he would not praise Cheng Jianshen and others. Kang Wenyi.
"Yes! I will try my best to collect information."
The next morning
A few days ago, Luo Qihong had sent personnel to negotiate with the detective agency following Li Qiqi, and paid the detective 100,000 yuan to fake photos and information to deceive Gong Guoyan.
I thought the matter had come to an end, but who knew that Gong Guoyan hired two detective agencies to track Li Qiqi.
Due to the close relationship between Luo Qihong and Li Qiqi, the detective naturally took photos of the two together.
(End of this chapter)