Wealth

After receiving Fan Heng's instructions, Hao hurried back to the factory and met with cadres above the level to discuss the issue of debt-to-equity swaps.

After sharing the opinions of the provincial meeting with everyone, Cui Hao said, "The situation is very severe now, and it is impossible to expect the province to allocate funds. Now the province does not want to say two hundred million, but 20 million. It's hard to come out."

"If we do debt-to-equity swaps, do we change bosses? We used to be state-owned enterprises, but now that we are engaged in the shareholding system, don't we work for capitalists?" Someone expressed confusion.

Cui Hao glanced at the person and said calmly, “Either restructure and introduce capital for technological transformation. Even if the company’s take-off cannot be re-achieved, at least it will be able to hold back. If we don’t restructure, then we will wait. Go bankrupt, the province can't count on it anyway, and their troubles are even greater."

The crowd squeezed their cigarette butts in the conference room for a whole afternoon, and then broke up after nine o'clock in the evening.

At this time, a large group of employees were already surrounding the meeting room. Seeing everyone came out, they asked about the content of the meeting. Can the factory get funding from the province?

Cui Hao stood on a high place, waved his hand to calm everyone down, and then said to everyone, "The factory has difficulties right now, but there are also difficulties in the province. Direct funding is enough." Seeing the crowd a little commotion, he continued, "However, Acting Governor Fan was very concerned about the situation of our factory, proposed a debt-to-equity swap, and contacted us with the cooperative enterprise. It is limited to the confidentiality regulations. It is inconvenient for us to disclose the details first, but within half a month, we will definitely discuss one. result."

Someone yelled from below, "Director Cui, our salary last month hasn't come down yet—"

"You don't have a salary, and we are the same. Let's hold on again. If you can't talk about the result for half a month, I don't need to speak with you. I just jumped off the provincial government building and apologized with death!" Cui Hao cursed.

Now that the factory director has said such things, everyone has no complaints. Such a big factory with tens of thousands of employees is not easy to manage! At present, the performance of domestic state-owned enterprises is declining in a wide range, and it is not just the Jiangnan wool spinning mill.

After Cui Hao hit these workers. Immediately ordered his own secretary. "Contact Fan's Investment Group's Jiangnan branch immediately. We have to hurry up!"

Fan Wu became ill and was informed by his father Fan Heng in the first place. It is said that Jiangnan Wool Spinning Factory wants to discuss matters related to the debt-to-equity swap with itself. So he immediately instructed the person in charge of the Jiangnan branch to take the initiative to contact the Jiangnan Wool Spinning Factory. Negotiations on debt-to-equity swaps began today.

In fact, Cui Hao still has some resistance to the debt-to-equity swap. Because he thinks it is in the debt-to-equity swap. There is a problem of the loss of state-owned assets. And he is also a little strange to this Fan Investment Group.

Although Fan's Investment Group has a great influence in the national business community. But for Jiangnan Wool Spinning Mills, which are relatively closed state-owned enterprises. The influence is a bit weak.

The restructuring of mainland enterprises is not open at first. The restructuring is employee shareholding within the enterprise. But the enterprise itself belongs to the country. In this way, there is a possibility that the interests of the whole people will be embezzled by some people.

There is a saying that it is interlaced like a mountain. It is not easy for non-industry to understand the specific internal conditions of the industry. Not to mention the internal situation of an enterprise. Outsiders have no way of knowing. therefore. The restructuring of many enterprises is not open. And it's restructuring internally. In other words, only employees are allowed to hold shares. No outsiders are allowed to hold shares. therefore. Abandon the principle of openness, justice and fairness. The formation of a joint embezzlement of state-owned assets. Become a community of interests.

Unless the community of interest is broken by a certain group of people, it is not known to outsiders. You can’t imagine that Shanghai’s entrepreneurs will openly bid for shares in Beijing’s restructured enterprises, because it is difficult for them to understand the inside story of Beijing’s restructured enterprises. Under such circumstances, the loss of state-owned assets is inevitable.

Some people may say that there is not a SASAC, but the SASAC is also subject to local jurisdiction. Even the regional system of banks cannot prevent local officials from making illegal loans from banks, let alone the SASAC?

Just look at the reports of the big four asset management companies packing up and selling non-performing assets to foreign institutions. There have been a lot of reports on the management model of foreign enterprises in China, and the Chinese have also learned a lot. These non-performing assets exist in physical form, which can be revitalized by selling them to foreigners. Why can't the Chinese? Why can't it be sold to Chinese people, but packaged for sale?

Many foreign financial institutions have privileged comprador agents in the country, and they even despise American laws. What's more, China's imperfect legal system? It is indeed very easy to divide up state-owned assets in China.

The person in charge of Fan's Investment Group in Jiangnan Province is named Jiang Shengshui, who is also a professional manager recruited by Fan Wubing from the United States. He still plays the capital game very well, and he contacted Cui Hao and others for a day or two. Later

He had a very clear understanding of the affairs of the Southern Province Wool Spinning Mill, so I begged and reported to him.

"The biggest problem of the Jiangnan Wool Spinning Mill is funding. The other is the management problem." Jiang Shengshui talked to Fan Wuyao eloquently. At least Jiangnan Wool Spinning Mill will not be in such a dilemma. If Jiangnan Wool Spinning Mill can carry out internal reforms, eliminate redundant staff, and change the current huge but inefficient management mechanism, then the cost can save about 30% of funds. It’s not difficult when you want to turn over."

After Fan Wubing listened to Jiang Shengshui's words, he felt confident in his heart. "Another point is very important. Does the Jiangnan Wool Spinning Factory really have the new technologies they said?"

"I saw the samples. Both in terms of quality and cost, they are at the international advanced level. Coupled with the low domestic labor cost, there is no reason to lose money." Jiang Shengshui replied very positively.

The biggest problem of the Jiangnan Wool Spinning Mill is actually the overburden of the enterprise.

Large-scale state-owned enterprises are generally large and comprehensive. In order to provide convenient benefits to employees, enterprises like Jiangnan Wool Spinning Factory have to bear all the expenses of various welfare institutions such as schools and hospitals undertaken by the enterprise. These expenses I can't see it in normal times, but when the company encounters difficulties, it becomes overwhelmed.

Jiang Shengshui pointed to the information he had collected and said to Fan Wubiao, "If these problems are not solved, the Jiangnan Wool Spinning Mill will still be difficult to tell."

Fan Wubing glanced at the hospital's expenditures, and immediately said with some surprise, "So much!"

As a factory-run hospital with less than 300 medical staff, the annual expenditure has exceeded 10 million yuan? ! This really made Fan Wubing feel a little astonished. Could it be that the people at Jiangnan Wool Spinning Factory were sick all day?

"Last year, only purchasing new medical equipment cost more than 5 million yuan. When the factory is in a financial dilemma, what is the purpose of doing so?" Jiang Shengshui pointed out.

Fan Wubing said with some self-deprecation after seeing it, "Hehe, it seems that this hospital should be separated first."

"Hospitals are naturally easy to separate, but the school is a non-profit organization, and if it is to be separated, it will be more difficult." Jiang Shengshui said to Fan Wuyao. Our emotions also need to be fully considered."

"As for the school, I don't recommend separating out. You can consider increasing investment so that the employees have no worries." Fan Wuyi came out of the enterprise. He naturally knows that dual-income families basically have little time to control their children. The school's The importance is particularly prominent. If their backyard is not taken care of, everyone's enthusiasm for work will be severely affected.

Another point is very clear, that is, the investment in the school is relatively fixed. I don't want the hospital to be as borderless and less tricky.

"By the way, how much debt does their factory owe in total?" Fan Wubing thought about this, so he asked.

Jiang Shengshui replied, "Almost four hundred million."

Fan Wubing frowned and thought, "So many! So how did they say that 200 million can solve the problem?"

"What they mean is that 200 million yuan can complete the technological transformation project, and then it will take two to three years to repay the debts, and strive to turn losses into profits within five years. A lot of the debts belong to the banks. It is not a rush." Jiang Shengshui explained.

"Has the agreed shareholding ratio come out?" Fan Wubing asked~www.wuxiamtl.com~ Well, their appetite is not very big, and 600 million yuan in exchange for 50% of the equity. "Jiang Shengshui said.

"Isn't this appetite too big?" Fan Wubing asked in surprise.

How much is their broken factory worth? Fan Wubing thought that the equipment in the wool spinning mill must be worthless. As for human resources, it may be included as part of the cost, but it shouldn't be so outrageous, right? Not only did I have to repay their debts, but also invested 200 million yuan in technical reforms to obtain half of the equity, which is really unbalanced.

Jiang Shengshui replied, "Some of the fixed assets are still considerable. The textile factory covers a large area, and the factory buildings are all newly built five years ago. There are also some industries near the factory area, which add up to a lot of things. If It’s still very profitable to use it properly."

Fan Wuyao nodded and said, "Well, I only have a few comments. The price of 51% of the equity remains the same."

***********The first update is delivered today. I came back late today, so the update is a bit late, I hope everyone will forgive me. *************(