Cheng Yu said to his neighbor: "I'm sorry, I don't know your last name yet. There were many family members who came that day, so I don't remember it very well."
The neighbor quickly said: "Sorry, sorry, I didn't think about this. My surname is Wang and my name is Wang Xu."
Cheng Yu nodded and said, "You should know this person, right?" He pointed at Xue Changyun.
Wang Xu said: "We know each other. Although we have only met twice, and it was mainly my father talking to Mr. Xue, I must know him. I am afraid that Mr. Xue will not remember me."
Xue Changyun smiled and said, "Okay, let's stop being polite. It's really a fate that you two are neighbors."
Cheng Yu also nodded and said: "What a coincidence. If living as neighbors is not a fate, then the fact that you two came to see me separately today is probably for the same thing, then it is really a bit of a coincidence.
What a coincidence."
In fact, Cheng Yu didn't need to say anything, both of them thought that what they were doing must be the same thing.
But as Cheng Yu, he always had to take the lead and clarify the topic first.
Xue Changyun was very good at complimenting, and immediately said: "I saw you two together just now, and I felt strange. I thought that maybe Mr. Cheng would bypass me and talk to you directly."
Cheng Yu rolled his eyes at him, but Wang Xu was a little nervous and said, "No, no, Mr. Cheng doesn't know about it at all."
Cheng Yu waved his hand and said, "Okay, don't talk to him, he is just joking. I just went out to pick you up, but I happened to meet Wang Xu on the way. Wang Xu told me that he had planned to come over to me after dinner.
Yes, didn't I bring two friends over for dinner today? He heard a loud noise inside and didn't come in when he knew I had guests. Then I asked him what was going on, and he said, you wanted to buy the research institute from him.
Partial equity, saying that this matter has something to do with me. He thinks that we are neighbors and always comes to ask me. I just invited him to pick you up together..."
Xue Changyun suddenly realized that he was pretending to be fake. In fact, he had already understood that Wang Xu would definitely not trust him. After all, in Wudong, if someone wanted to raise a banner, the Cheng family and the Du family would be most likely to be involved.
After all, this was his first time dealing with someone, so it was normal to have such doubts and worries. Xue Changyun was not dissatisfied with this matter.
"Wang Xu, I can tell you responsibly that Mr. Xue and I are indeed planning to acquire that research institute.
Your last restructuring was the first time. Originally, the institute hoped to become a cooperative research institute with a state-owned equity system, but now the superiors are not willing to continue to invest in the institute, and the amount of scientific research funds you give every year is really large.
Not enough, even the salaries of those research institutes are a problem.
It happened that they had a cooperation with us some time ago, and we got to know each other because of a patent issue. So we talked about the next step of fully privatizing the research institute.
After careful consideration, Mr. Xue and I decided to acquire this research institute step by step.
He called me just now and said that he wanted to talk to me about something, but I didn't ask what it was. Now it seems that it is about the 30% of the shares that your family holds."
Xue Changyun once again used his strength of praise and said: "Yeah, I couldn't understand a word or two on the phone, so I told Mr. Cheng that we wanted to meet in person. But I didn't expect such a coincidence that you, one of the protagonists, would also show up.
Wang Xu, we are very sincere in acquiring the shares from your family, but you have also seen the current situation of the institute. Without a larger investment, it is almost impossible to make any turnaround.
Now that we are sitting together today, I want to hear what you and your father mean. If you want to sell, let's continue talking. If it's really difficult, I will ask you, Director Chen, if you are willing.
Take over their institute entirely."
Wang Xu pondered for a moment, then said with a wry smile: "Mr.
The funds used to acquire 30% of the shares exceeded 100 billion. We admit that the institute is in decline, and it is getting worse year by year. The original valuation was still over 10 million, but now I am afraid that no one is willing to take over after several million.
.”
Cheng Yu interrupted: "Actually, the main thing is not the funds for the acquisition, but more the investment after taking over, which will be relatively large."
Wang Xu nodded and said, "I admit it, but we have invested a lot of money after all. As for the research institute, our share is calculated from the day we purchased the shares.
In other words, past patents and technologies have nothing to do with us.
Just like the material technology sold to you this time, our family actually thought about purchasing that patent at first.
I'm not being pretentious, that patent is very similar to a technology our family acquired two years ago. Of course, I'm not saying that the institute copied it, I can only say that the direction of research and development is relatively similar, and I admit that the institute's hand
The patents here are more mature and the products produced have higher specifications.
But after all, we already have part of the technology, and we can improve this technology through continuous production. So we didn't make up our mind to buy this patent at the beginning. Then Director Chen sold it to you two.
I have no other meaning in saying this, I just want to explain the current situation, that is, since we invested in the institute, we have received almost no return from the institute. On the contrary, the investment has been quite a lot.
It doesn’t count a lot of money, but it is all real cash. As an industrial factory, we have a greater need for cash. Therefore, Mr. Xue, the quotation you gave us is really difficult for us to cut off...
"
Cheng Yu glanced at Xue Changyun. He didn't know any of this. He didn't even know the price Xue Changyun had given to Wang Xu's family.
But it can be roughly calculated.
Nowadays, the research institute is really in a state of being unable to uncover the truth. The state's funding is getting less and less year by year, and many patents that have expired the confidentiality period have been sold.
This has led to the institute's valuation declining.
Including what I talked about with Director Chen, when the institute was restructured for the first time a few years ago, it was valued at more than 10 million. The 30% equity that the Wang family took away originally cost about 4 million.
of.
Now, except for those patents that have not yet expired and some R&D personnel, the institute can be said to be almost in utter poverty, with nothing left. Even at the time, when it was first restructured, there was still a person inside the institute.
Small factories still have certain production capabilities. If they find the right market at that time, it is even possible to open up some situations with the technology at hand.
It's a pity that neither Chen Jiang nor Wu Jing are good at business management, and they are simply blind to the market.
And the shareholders they chose for the original restructuring also had problems.
Cheng Yu didn't know much about the situation in Wang Xu's family, but from what he just said, Cheng Yu could roughly know that since Wang Xu's family was making environmentally friendly materials and based on this, their family must have a mature production line.
It is impossible to support the continued development of the institute's factories.
Even to a certain extent, they would rather see the institute's factories fall apart.
Only if the research institute itself does not have the ability to digest any technology can they possibly seek greater benefits from this.
But now, everything has changed.
According to the institute's accounting, after this restructuring, a portion of the shares will be liquidated every year. From the day the acquisition begins, the research and development of military technology will be completely stopped, and the research and development of civilian technology will be completely oriented to the market. However, this does not include the research and development that has been carried out for a period of time.
.
As for R&D expenses, they need to be fully paid by the acquirer.
Part of these R&D funds will be used by the institute to develop new technologies, and part will need to continue to be used on already developed technologies.
To put it bluntly, the acquirer even needs to help the country complete the research and development of the unfinished technology, and a proportion of this research and development funds must be used for the research and development of that technology.
From now on, the state will only be responsible for the salary of part of the R&D personnel, and the transition will take three to five years to eventually achieve full privatization.
After the acquisition is completed, the military technology that has expired will be retained, while the unexpired technology will be handled in two situations.
First, technologies that will expire within one year will be sealed by the state. The acquirer needs to pay a certain amount of funds to acquire this part of the technology.
The second is that technologies that cannot expire within one year will be completely taken over by the state.
Calculating it this way, in fact, in the past few years, the investment has not been large, but it has been small.
This condition is actually quite harsh. For the Wang family, it does not mean much. They can only choose to sell their shares.
Cheng Yu and Xue Changyun came to this because after a period of research, Xue Changyun believed that after the acquisition was completed, the technology they could obtain was basically in line with the investment. On the one hand, it was to help the country and the government complete the restructuring needs; on the other hand, it was
, you can also get certain technical reserves yourself.
You will definitely not make any money, and you will even suffer some losses, but you can gain impression points from the government.
For Xue Jiahe, Qianjin, which has already been established, their future business direction is inseparable from the government, and more of them will be engaged in the development of government infrastructure. So, based on the calculation, it is still a good deal.
Different perspectives determine different attitudes towards the institute, which is why today's scene is happening.
Therefore, according to the current situation of the institute itself, coupled with the various costs that will be paid in the future, it is difficult for the current valuation of the institute to exceed four million.
If calculated based on this valuation, the shares held by the Wang family are worth about 1.2 million.
For the Wang family, which has continued to invest for so many years but has received limited returns, with a total investment of over 10 million, this is obviously unacceptable.
Of course, there are losses and profits when doing business and investing, but if there is no such thing as restructuring and acquisition, it can be said that the Wang family has almost reached the stage where it can recover a certain amount of costs.
But when the government was eager to get rid of this mess, the Wang family saw an opportunity to recover costs, and it no longer existed.
And if the valuation is suddenly lowered so low, of course the Wang family will be reluctant.
Seeing Cheng Yu's gaze, Xue Changyun certainly knew what Cheng Yu's question was, and he said directly: "That's right, our current valuation of the institute, or a relatively fair third-party research company, has a negative impact on the institute.
The valuation made was only four million. I also considered that the Wang family has not had an easy time these years, so I quoted a price of two million to acquire all their shares. Mr. Wang felt that it was too little, but this was already
That's the biggest concession I can make."
Wang Xu's face was full of bitterness. Obviously, this was not something he and his father could completely decide.
