In the urban area, in the large conference room in the headquarters building of Haiyi Group, more than 20 people from the negotiation team of Phoenix, Haiyi and Wang Baocai witnessed that the representatives of the three parties, Cao Danqing, Tang Xuan and Wang Baocai, signed to confirm the "annexation".
"Haiyi Group's agreement.
At its peak, Haiyi Group's assets were valued at US$12.5 billion. It is considered a relatively eye-catching old unlisted company in the market. It is involved in multi-faceted operations and its main business areas are: chemical industry, foreign trade, finance, and mining.
Jing Gao expressed his thoughts to Cao Danqing: Phoenix Group should not get involved in too many industries. This is a self-protection strategy!
A consortium involved in multiple industrial fields will not end well in China. This can be said from two ends. On the one hand: if you make a big tree, you must leave more food for others. If you make too many enemies, sooner or later the game will be over.
On the other hand, trying to become an entity similar to the Samsung Consortium that affects the country's economic lifeline is to think that one's own life is too long.
There are two things that a stick cannot avoid: Samsung and death. If the Phoenix Group has achieved this level, it is probably not far away from entering. Samsung’s successive leaders have been involved in lawsuits, and Lee Jae-yong is still being prosecuted.
For example, Alibaba looks like a behemoth, with 25 divisions and 7 major business groups, but it is essentially an Internet company. Alibaba will not get involved in agriculture or heavy industry.
Tencent’s main business is social networking and gaming.
From a normal business perspective, there is no such thing as a company jumping across multiple industries repeatedly.
Enterprises try to diversify because they don’t want to put their eggs in the same basket, find new profit points, and resist market risks. This requires a lot of manpower and money to carry out continuous trial and error.
And Jing Gao’s problem. As a Shenhao with unlimited cards, as long as he enters a certain industry, he will definitely become the industry leader regardless of the cost. It’s just a matter of time!
So the restriction on him is that it won't be a big problem if you enter ten or twenty industries. If you really expand too far, the outcome is foreseeable. This is an implicit restriction on Shenhao. He had already said it before talking to Guo Siyue.
Realize.
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Therefore, Cao Danqing, on behalf of Phoenix Group, swallowed up the financial business accounting for 56% of Haiyi Group's total assets. He removed funds, insurance, securities and 9% of the shares of Jingzhou City Commercial Bank, which are extremely profitable and high-quality assets.
Haiyi Group's sales last year were US$24.5 billion, and its financial business contributed a lot. If you swallow this, Phoenix Group can be said to be a big tonic!
Phoenix Financial Group Co., Ltd., which was just established not long ago, is called the Financial Business Group internally within Phoenix. Its business will be able to spread throughout Handong immediately. The next step is to expand to the capital or the magical capital.
This is a completely different approach for Alipay!
Phoenix Finance does not operate "small loans." Jing Gao is not allowed to open functions such as Huabei and Borrow. Previously, he urged his partner Ouyang Wan, a well-informed person in Shanghai, to stop this business.
P2P Internet financial business is currently very popular. Jing Gao has noticed it for a long time. The national team has entered the market.
The specific method is to use products such as Yu'e Bao to allow users to download the relevant company's apps and deposit money at a higher rate than bank deposit interest rates. At the same time, these companies will lend the money out through small loans.
Jing Gao had communicated with Xiao Ma on the phone before. Tencent’s WeChat payment adopts prudent financial measures. They need to improve the entire payment system rather than financial innovation.
Jing Gao’s idea is very simple: Since ancient times, how many loan sharks have ended up well?
Wrap it up in the discourse system of the Wei and Jin Dynasties: This matter is not dignified!
Don’t package loan sharking in such a pure way: there is demand for loans in the market, and it is reasonable if it exists. Look at the situation of campus loan collections, how many evil things are done?
Campus loans and long-term apartment rentals are essentially capital doing evil! It is cutting young people's leeks and drinking their blood.
This is just like Jing Gao's requirement that no shared spaces are allowed in the residential buildings developed by Xia Shang Real Estate. The number of square meters stated in the contract is the number of square meters.
Why do you want to learn from Li Cucumber? Many foreign countries do not have public sharing. Gentlemen love money and get it in a wise way. Can't they be honest and earn their money in a responsible manner?
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Here we need to introduce the equity situation of Haiyi Group. As a large enterprise worth nearly 100 billion, with more than 100,000 employees, the organizational structure of Haiyi Group is undoubtedly very complex. It is far from the parent company, subsidiaries, and subsidiaries.
The linear structure of the company is simple.
Among them, there are various cross-shareholdings, equity incentives, etc.
This results in the ownership structure of Haiyi Group being very complicated.
After sorting out the equity of Haiyi Group and its affiliated companies, Phoenix's team can roughly divide it into the following: the largest shareholder, An Xiaoqian, and the companies controlled by her name, together account for about 65% of the shares.
The second largest shareholder is Galaxy Group, accounting for about 15% of the shares. The second largest individual shareholder Wang Baocai, part of the small shareholders who betrayed An Xiaoqian in this alliance, totals about 18%. The remaining 2% is employee equity incentives
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An Xiaoqian is very loyal. When Haiyi Group's capital chain was broken, Phoenix Group took over her shares and debts and injected capital to revitalize Haiyi Group without affecting the equity of other small shareholders.
In addition to swallowing up the financial business of Haiyi Group, Phoenix Group also swallowed up "foreign trade" and some of Haiyi Group's properties and land assets in Jingzhou. Together, it accounts for about 10% of the total assets.
Coordinate all the equity interests of the remaining small shareholders and squeeze them into chemicals and minerals. Small shareholders who are unwilling will invest in purchasing their shares and liquidate them.
Wang Baocai and his collaborators will control the chemical and mineral assets of Haiyi Group. This is the benefit obtained from "collusion".
Of course, the brothers are settling their accounts. They do not have enough financial resources to swallow up these assets. Phoenix Group will hold a 10% stake in each of these two businesses and the Bank of East Asia will grant them a loan of US$100 million.
The 15% stake held by Galaxy Group was worth US$1.875 billion, and Phoenix Group bought it at an ultra-low price of US$300 million, clearing out the influence of Galaxy Group from Haiyi Group.
This was only possible when Ren Lie came to discuss it.
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“Sign it!”
Chao Danqing was at the conference table, picked up the signature pen prepared by her assistant, and scrawled her name on the documents one after another.
Cao Danqing signed the transfer agreement with Ren Lie in the morning, and he is not here.
Tang Xuan sat next to Cao Danqing with an expressionless face, took the handed document, and calmly signed the agreement.
Wang Baocai on the other side smiled like Maitreya Buddha, signed the documents with a smile, handed the documents to his assistants one by one, and said: "Okay."
“Pop!”
There was a burst of applause in the conference room that was not enthusiastic but relaxed. The reason for the lack of enthusiasm was that no one was willing to emotionally accept the reality that Haiyi Group was swallowed up by Phoenix Group.