Chapter 324 Stripping off tens of billions of loans, Zhang Shuos cool operation!
The conversation continued, and Zhang Shuo continued to press forward.
"In addition to being responsible for the merger of Zhanxun and Ruidike, I also hope that you will also take care of the internal integration of Mango Motors. After all, Mango Motors was put together from scratch, and there must be many internal hidden dangers."
"Am I going to fight a protracted war in the magic city?" Lu Qi said.
"He who can do it should work harder!"
Zhang Shuo is determined to make good use of Lu Qi's sharp sword.
Anyway, according to Lu Qi’s suggestion, after adjusting the rotating president’s rotating calendar, Lu Qi will have to wait until September 1 to succeed Lu Kai as the group’s rotating president.
There's still time.
Seeing that the big boss had finished talking about business, Lu Kai reported: "Mr. Zhang, the Magic City side asked me if Maili Electronics' second assembly factory can be built in Magic City? Magic City is willing to provide policy support."
"No way, the devil is interested in electronic processing factories?" Zhang Shuo was surprised.
"No matter how small a mosquito is, it's still meat. What's more, the investment in the electronics factory is no less than 1.5 billion, and it can also create employment for thousands of people. No city can refuse this temptation, right?" Lu Kai explained with a smile.
"It's better to refuse."
Zhang Shuo disagreed, "I also said at the last meeting that we should consciously move budding non-core industries to second- and third-tier cities, starting with the new Maili Electronics factory, and choose a second-tier city to build the factory."
"clear!"
Lu Kai stopped trying to persuade him. Anyway, he didn't give any assurance to the Magic City.
………
the next day.
Zhang Shuo attended the signing ceremony for the acquisition of Ruidike.
The city also attached great importance to it and arranged for the city's adjutant in charge of economics to attend the ceremony and deliver a passionate speech, saying that this acquisition was a transformation opportunity for the city's semiconductor industry.
Anyway, it gave enough face to Su Ya.
After successively acquiring Zhanxun and Ruidike, Daosui Semiconductor, which was established less than a year ago, has become a dark horse in China's integrated circuit industry and has suddenly emerged.
Even in the magic city, it is impossible not to pay attention to Inaho Semiconductor.
It is a pity that Germination did not move the headquarters of Daosui Semiconductor to the Magic City, but to Jiangxia, which seems to have nothing to do with it, which somewhat caused some confusion in the Magic City.
Rest interval.
The leaders of Modu also chatted with Zhang Shuo and vaguely mentioned the matter of Maili Electronics building a new factory.
It can be seen that he has not given up yet.
"The construction of a new factory by Maili Electronics is actually just a small matter. However, Mango Motors wants to acquire land in Shanghai and build a super factory, which will require strong support from the city government." Zhang Shuo declined politely.
"Super factory? Do you have a more detailed plan?"
"The preliminary plan is to acquire a thousand acres of land in the Lingang Heavy Equipment Industrial Zone to build a manufacturing plant for Mango cars. The total investment will exceed 40 billion." Zhang Shuo also revealed a little bit.
"Really? That's great."
The leader did not express his position immediately, and he was probably skeptical of Zhang Shuo's words.
I thought Zhang Shuo was writing a bad check.
Think about it, Mango Motors has only been established for a long time, and it is about to build a factory and build cars? With a construction project of more than 40 billion, where will Germination raise funds? No matter how you look at it, it is unlikely.
Naturally, there will be no further commitments.
Zhang Shuo did not discuss this topic in depth, but took the initiative to mention that firstly, he used this as a reason to refuse Maili Electronics' investment in Magic City, and secondly, he wanted to make a foreshadowing in Magic City first.
It's a matter.
You have to take it step by step and don't rush it.
In the evening, Zhang Shuo held a special banquet for Zhan Xun and Ruidike's executives. At the same time, he also formally introduced Lu Qi to both parties, which was considered to be Lu Qi's command.
As the vice president and rotating president of Luqi Moya Group, he personally took charge and led the merger of two second-tier subsidiaries, which is already an extraordinary treatment.
Zhan Xun and the executives of Ruidike will naturally not have any dissatisfaction.
The rest.
I believe Lu Qi and Luo Jie can handle it well.
………
Friday, June 29th.
As soon as he returned to Binhai City, Zhang Shuo threw himself into a new job.
Can't stop for a moment.
The controversy on the Internet about Germination's acquisition of Ruideko is still going on, but it will not affect Germination's progress at all. We will continue to do whatever we want.
You cannot easily adjust your business strategy just because of some doubts on the Internet.
On the contrary, Gu Mingzhang took advantage of the popularity of public opinion and took advantage of the situation to promote the launch of Maili X1. The official website of Maili Group was finally updated and launched a huge horizontal screen advertisement——
"Maili X1, redefining smartphones"
The slogan is loud and clear, but there are no technical details about Maili X1. Even the appearance design of Maili X1 only has a black framed outline.
"What, what can you tell from this?"
The netizens who were watching were confused, "Is Mai Li trying to be mysterious?"
“It doesn’t look serious at first sight!”
"The tone is quite loud, and it has redefined mobile phones. Is it possible that it can surpass Pingguo and Sanxing?"
"Blow it!"
"Let's just wait and see what happens. If it's another company bragging about this, like Xiaomi, then I definitely won't believe it, but it's just Mai Li, so I shouldn't make it up randomly."
"That's true. The golden signboard of Germination is hanging there. How can you say it nonsense?"
"Don't forget, everyone, although the Maili Group was established not long ago, it has invested a lot of real money. Maybe it can really produce some amazing results."
"Then let's wait and see!"
Overall, this advertisement of Maili has whetted the appetite of netizens.
The effect is not bad!
In addition to the news about the bud, what is most discussed online is actually the popularization of 4G network. First- and second-tier cities, and even third- and fourth-tier cities, have begun to realize 4G network coverage.
4G mobile phones have naturally become the new focus of discussion.
There are also various fantasies about the 4G era, such as being able to watch TV shows on the subway, but they have to face a roadblock - ultra-high data charges!
Zhang Shuo was browsing the news when Jiang Yue knocked on the door and came in.
"Mr. Zhang, the 2 billion one-year low-interest loan from Lingnan Electronic Information Industry Development Fund and Binhai City High-tech Industry Development Fund has expired and needs to be repaid."
"Pay it back!"
The loan from the Industrial Development Fund is not eligible for default.
"After repayment, can I continue to apply for a loan?"
Even with the current size of the sprout, if the current capital is deducted by 2 billion, the impact will definitely be there. Fortunately, the payment plan for this loan was already planned at the beginning of the year.
It's not like I'm in a hurry.
"You can apply, but based on the group's current assets and liabilities..."
Including bank loans, corporate bonds and overseas bonds, the interest-bearing liabilities of Germination alone are close to 20 billion, not including accounts payable and other liabilities.
It's really not optimistic.
"Is it possible to consider transferring land mortgage loans, mortgage loans for projects under construction, and fixed asset mortgage loans from the group to Sprout Real Estate? In this way, the group's liabilities can be greatly reduced."
Zhang Shuo put forward his idea.
"Yes, yes. The problem is that Sprout Real Estate itself is not profitable, so how can it pay the loan? Even if it only bears interest payments, it will be very difficult."
This kind of transfer looks like self-deception no matter how you look at it.
"Who said that Sprout Real Estate has no profitability?" Zhang Shuo disagreed, "Aren't the properties in Sprout Building, Jingshi, Magic City, Jiangxia, and Rongcheng all under the name of Sprout Real Estate? They can collect rent."
"Collect, collect rent?"
Jiang Yue didn't react at once, "But these properties are all for personal use."
“Don’t my family have to collect rent?”
Zhang Shuo, on the other hand, was confident and got inspiration from Lu Kai's charging of green orange service fees.
"Previously, the office rent, water and electricity of each subsidiary were not included in the operating cost accounting. Will it lead to an uncontrolled waste of electricity because they are eating from a big pot? Or, in other words, the redundant office area will be quietly exposed to the outside world.
How about renting it out or setting up a small treasury privately?"
It was Luo Jie's investigation into Zhan Xun that stimulated Zhang Shuo.
Since there are so many problems within Zhanxun, wouldn’t the growing Buoyuan department have similar problems internally? Especially now that its subsidiaries have expanded to all parts of the country.
The group level is already beyond our reach.
Zhang Shuo wouldn't believe that there are all loyal and brave men like White Lotus inside the sprout.
"this…"
Jiang Yue really didn't dare to guarantee it.
"right?"
Zhang Shuo took the opportunity to talk about the second topic, "Now that the group is a big business, it is inevitable that moths will be born inside and dust will be generated. It is time to swing the broom and clean the house."
"what do you mean?"
"Let the audit department take the lead, with the participation of various departments such as human resources, finance, and the president's office, and organize a top-to-bottom mid-year financial review to improve work discipline and work style. You are in charge."
"good!"
Jiang Yue agreed with this point.
"How is the training of new employees arranged?"
It was almost July. Thinking of the 12,000 new employees who were about to join the company, Zhang Shuo had to brace himself for fear that something might go wrong.
He had long been looking forward to this batch of fresh blood being injected into the bud.
"According to Director Wu, since the headquarters of many subsidiaries have been relocated to other cities, this year's new employee training will no longer be concentrated in Binhai City. Qingcheng will receive it from Yangcheng, Qingyun Data will receive it from Jingshi, and Jade Bird
The employees from Mutual Entertainment were taken over to Chengdu and returned to their own homes. Binhai City is only responsible for the new employees of the group headquarters, Qinghe Technology, Maili Group, Sprout Real Estate, Sprout Investment and Sprout Financial Holdings."
"This is a good idea." Zhang Shuo nodded in approval.
As subsidiaries grow, it is inevitable to decentralize recruitment authority.
"There is one point. If each subsidiary is responsible for accepting new employees, how can they provide unified training? Especially in the area of corporate culture, we must not neglect it."
If a very large company wants to achieve stable and long-term development, revenue is only one aspect of it. If it wants to unite tens of thousands of employees and form a joint force, it must ultimately rely on corporate culture as a spiritual link.
Otherwise, it is just a piece of loose sand.
Over time, it will soon become corrupted from within and lose its pioneering and enterprising spirit.
"Director Wu has also considered this. The group's human resources center will send professional lecturers to various places to organize new employee training. If it is a group executive giving a lecture, a video conference can also be set up." Jiang Yue explained.
"That's pretty much it."
Wu Sheyuan is worthy of being an old man, and he is very experienced in thinking about issues.
"By the way, Mr. Zhang, when the new employees meet, I need you to be there to speak. Do you need the president's office to prepare a speech in advance?" Jiang Yue asked for instructions.
"Need not."
Zhang Shuo always likes to improvise.
………
In the afternoon of the same day, Zhang Shuo held the group's monthly strategic meeting without stopping.
Video conferencing was adopted for the first time.
Du Ruiwen is in the capital, Lu Qi, Tang Xiang, Luo Jie is in Magic City, Pei Weiping is in Yangcheng, and Cao Yanhua is in Rongcheng. The only ones left at the headquarters are Lu Kai, Jiang Yue, Gu Mingzhang, Tan Yunsong and Zhao Xiaohu.
Anyway, we are using Feixun Conference developed by Moya, so we don’t have to worry about the content of the conference being leaked.
Very safe.
The meeting was still chaired by Lu Kai, the rotating president, and the main discussion was on matters such as the reception, placement and training of new employees. Zhang Shuo did not speak much during the whole process.
I just said a few words at the end of the meeting.
………
The next day is the weekend.
Zhang Shuo was called by his second uncle to have dinner with him in Mr. Tang’s courtyard.
Tang Yu is also here.
"Xiao Shuo, I heard from Xiao Yu that her sports car was given to her by you?"
As expected, the second uncle Tang Yi asked about the car. In his current position, although some issues were no longer so important, the fact that his daughter drove a sports car to work was still a bit eye-catching.
"It's not a gift." Zhang Shuo explained with a smile: "The car is still in my name, I just lent it to Xiaoyu for work."
"That's right."
Tang Yi's expression softened slightly. Thanks to Zhang Shuo, he knew how to do things properly. "You, don't spoil her too much."
"Just this once, never happen again."
Of course, Zhang Shuo also knows the importance. He has known Tang Yu for two years and has never given Tang Yu anything valuable. The Porsche is the only exception.
It can also be regarded as a coming-of-age gift for Tang Yu.
………
Monday, July 2nd.
With the beginning of a new month, Zhang Shuo signs and approves new grant applications as usual.
July is very special.
It is the beginning of the third quarter and the beginning of the second half of the year. Furthermore, with the addition of new employees, the salary expenses of each subsidiary will double again, so additional allocations will be made.
Allocate 1.8 billion operating funds to Maili Group, of which 800 million are special funds for research and development;
Allocate 500 million R&D funding to the Fertile Soil Research Institute;
Allocate 500 million operating funds to Mango Auto, of which 300 million are special funds for research and development;
Allocate 800 million operating funds to Daosui Semiconductor, of which 500 million are special funds for research and development;
Allocate 800 million operating funds to Germinal Real Estate, of which 500 million is project funds;
Allocate 300 million operating funds to Qinghe Technology, of which 50 million is special research and development funds;
Allocate 200 million operating funds to Jade Bird Interactive Entertainment, of which 50 million is special research and development funds;
Allocate 200 million operating funds to Qingyun Data, of which 100 million is special research and development funds;
Allocate 200 million operating funds to the headquarters of Sprout Group.
All added up to a special allocation of 5.3 billion. Come on, it’s another month of huge bleeding.
In the past June, Germination also allocated 600 million to Maili Group for the acquisition and renovation of the electronics factory in Guancheng Industrial Park.
Then there is the acquisition of Ruideko, which cost a total of 3.85 billion.
Of course, June is also a month for big harvests. Not only the tens of billions of service fees received by Qingcheng Group, but also the 1.5 billion profits handed over by Qingniao Interactive Entertainment at the end of the month.
But even with a monthly income of tens of billions, I still can't bear to do this, and the liquidity in my account decreases instead of increasing.
That's still 250 million short.
Another big change is that after paying off an additional 2 billion in low-interest loans, all the bank mortgage loans were transferred to Sprout Real Estate. Sprout Group divested tens of billions of debt in one fell swoop.
The asset-liability ratio dropped instantly.
This is why additional operating funds will be allocated to Sprout Real Estate in July, a large part of which will be used to repay loan interest.
The rent collected alone cannot fill the hole of tens of billions of bank loans.
"The working capital is less than 4.4 billion. Come on, we are short of money again."
Seeing the shrinkage of book funds, Zhang Shuo had a headache. The tens of billions of service fees collected from Qingcheng had not yet warmed up. In less than a month, they were all spent.
This also made Zhang Shuo realize two truths——
Money is really expensive, and R&D is really expensive.
Fertile Land Research Institute, Maili Group, Mango Automobile, and Daosui Semiconductor, these four companies alone have a monthly R&D expenditure of an astonishing 2.1 billion.
But this is not the upper limit.
With the increase in R&D personnel of various companies, R&D expenses will only continue to rise in the future, especially for Mango Auto and Inaho Semiconductor, which have just started. They are still just drizzle.
In the future, any company will not spend more than ten to two billion on R&D in a single month?
To describe it as "burning money" is more vivid.
Take the Fertile Soil Research Institute as an example. The R&D expenditure of RMB 500 million per month is an average of RMB 17 million per day, an average of RMB 700,000 per hour, and an average of RMB 11,574 per minute.
It’s really spending tens of thousands of dollars every minute, isn’t it just burning money?!
It is no wonder that many Chinese companies are unwilling to engage in research and development, and would rather use their profits to speculate in real estate, stocks, and land. This is really not something that ordinary companies can resist.
But this is another step that must be taken.
The problem facing Zhang Shuo now is that if the situation continues like this, the group will be unable to make ends meet again.
Where does the money come from?
This is on the premise of getting rid of the big burden of Qingcheng Group, otherwise we will be even more short of money.
"The only option is to continue financing."
Zhang Shuo now somewhat understands why Xiaomi still needs to raise funds when it is almost close to making a profit.
We are really short of money!
But when it comes to financing, there are only a few channels - bank loans, issuance of corporate bonds, overseas bonds and equity financing, etc.
For private companies, getting an unsecured loan from a bank is just a dream.
Especially when the profit outlook is still unclear.
That's why it was said that Zhang Shuo revealed to the Magic City authorities last time that he wanted to build a 40 billion mega project in the Magic Capital City, but the other party was not enthusiastic or even indifferent.
It's easy to add icing on the cake, but it's difficult to provide help when it's time.
The issuance of corporate bonds can only be a small supplement, not a large supplement, such as 500 million or 1 billion. It may slightly improve cash flow, but it will basically not help the overall capital chain.
Overseas bonds are not that simple either.
After all, if most start-up companies want to obtain large amounts of development funds, they must either go public, or they can only engage in equity financing and exchange equity for development funds.
This is very realistic!
Even a "giant" like Germination is no exception.
So the question is, after Qingcheng Group, Panda Live, and Automotive Network, what independent assets can Suya still use for equity financing?
The identity of the Germination Group?
This is true. If Zhang Shuo really dares to open this door, top investors from all over the world will probably be able to squeeze through the door of Germination Building.
Never underestimate the allure of the world’s number one unicorn in the venture capital circle.
While the valuation of Qingcheng Group has reached 75 billion, the overall valuation of Germination Group is already heading towards 400 billion. If you just take out 10% of the shares, you can raise 40 billion.
How terrifying is this?
But Zhang Shuo will not be so stupid. In just two years, it will be very easy for the valuation of Germination to exceed one trillion. In five years, the overall valuation may be three to five trillion.
How could it be possible to fish from a dry land and start the financing for the headquarters of Germination Group so early?
Stupid or not!
A similar situation exists with Maili Group.
Just before our eyes, Maili X1 will make its glorious debut in September, skyrocketing, and preparing to start a massacre mode in the smartphone market. By then, won’t profits be rolling in?
Maili Group will surpass Jade Bird Interactive Entertainment and become the most profitable company under Sprout, which is just around the corner.
How could it be possible on the eve of victory to give up the precious equity of Maili Group for a little development funds? Are you stupid!!!
Then there are Mango Auto and Inaho Semiconductor, a pair of fledglings. Although the outside world has not yet seen their potential value, they are potential players with a valuation of hundreds of billions or even trillions in the future.
Naturally, it is impossible to extract surplus value from them when they are still fledglings.
Killing the goose to get the eggs, right?!
In contrast, Qinghe Technology, which has already matured, seems to be more suitable for financing. However, Weixin, which Qinghe Technology holds in its hands, is another big killer weapon.
Zhang Shuo will never allow any outside force to interfere with the development rhythm of Weixin.
It is also not for sale.
After going around in circles, it seems that only Qingyun data is left, which can be used for financing.
Although Qingyun Data has a low reputation in the outside world, it is actually very powerful. In terms of hardware, it has built three data centers and has a super data center under construction.
Software aspect.
In addition to the acquired Bajie.com and the two start-up companies Tubatu, there are also the "Qingyun System" and "Blue Lake Operating Platform" currently under development, which are all rare potential stocks.
It can be said.
Qingyun Data is already one of the top cloud computing platforms in China, and it has huge future potential. If it really wants to start financing, it will be very easy for its valuation to exceed 20 to 30 billion.
As long as the A-round financing is launched, not to mention more than 2 billion, it will be enough to support the construction of the southern Sichuan big data center and daily operations, and no longer require continuous blood transfusions from the Sprout Group.
It can be regarded as a disguised way of saving money for the group.
But the problem is that Qingyun Data Financing can only solve its own funding problems, but cannot solve the group's capital chain.