After hearing this, Tian Jiayi couldn't help but look at Fang Hong and said with a smile: "In this case, Qunxing is equivalent to entering the real estate industry. How could someone swear so much in the first place? If you don't play real estate, you will be a slap in the face."
Hearing this, Fang Hong joked to himself: "Other big names have been slapped in the face by the flag they set up. Let's join in the group for once."
What is certain is that if Qunxing Capital holds real estate on a large scale in this way, not only will it not be scolded by the public, but it will be widely praised and win praise, because the real estate held by Qunxing is not for sale, but for its affiliates.
Employees are provided with free housing benefits.
At the same time, these properties are assets under the name of Qunxing, and they are also quite high-quality assets. Then, the front-end cash flow can be pledged at any time when needed, which means that leverage funds can be leveraged. The money invested
You can also take it out and use it again, paying some interest costs. It can be said that you will gain both fame and fortune.
Fang Hong obviously does not engage in loss-making trading. Sometimes it may seem like he is losing money, but in fact he is making small or even big profits.
After a while, Fang Hong changed the subject and asked: "By the way, how is the debt reduction of Huayang Group going?"
In the past two years, with the advancement of housing reform and the property market booming again, Huayang Group took the initiative to reduce leverage and shrink at this time, changing the previous three-high model of high leverage, high debt, and high turnover.
In the past two years, the previous buying and selling has changed to selling and selling. Instead of expanding, it has been shrinking, and the company's asset structure has been adjusted.
As a leading giant in the real estate industry, Huayang Group's incompatible move also caused quite a stir in the industry. It was quite difficult to find someone to take over the deal. At first, no one dared to take it. They felt that Huayang Group was like this
Did the leading giant smell any different signals, and thus had great concerns?
However, in the past two years when the property market prices have been skyrocketing, many people have still settled down in the face of huge interests.
Tian Jiayi recalled for a moment and then replied: "Huayang Group's annual report came out last month. I have also read it. The company's liquidation plan is progressing smoothly. As of December 31, 2017, Huayang Real Estate
The debt level has dropped to 47.9% and is expected to drop to around 35% this year."
Such a debt ratio can basically confirm that Huayang Group has achieved a safe landing. The cold winter of the property market in a few years is inevitable. It is inevitable that those real estate companies with serious "three highs" will explode one after another. Huayang Group listened to Fang Hong's words and seized the opportunity.
The best and only time window.
A few years later, with the onset of the cold winter in the property market, it was a crisis for others, but it was an opportunity for Huayang Group. In an environment where a large box office company was lying flat and had various debt defaults, Huayang Real Estate could
With ease.
Fang Hong nodded with satisfaction: "Not bad, I listened to others and had enough to eat."
Although Huayang Group operates independently and is not affected by Qunxing Capital in terms of procedures, Fang Hong really listens to what he says and does everything he says, and he is very clear about holding on to others.
After a while, Tian Jiayi brought unexpected news to Fang Hong: "Speaking of Huayang Group, there is another thing today. Hua Yu talked to me about something when we were in the company. The Huayang family plans to sell half of it.
I hold equity in Qunxing Capital and would like to hear your opinion."
Fang Hong suddenly looked at the beautiful assistant in surprise: "Oh?"
Huayang Group initially held 5% of the equity of Qunxing Capital, and Hua Yu personally held 1% of the equity. By August 2009, Huayang Group valued Qunxing Capital at 350 billion, and after raising 10 billion, it received another 2.85
% of the equity, rising to 7.7% of the shareholding ratio.
In January 2010, Huayang Group raised RMB 11.5 billion for Qunxing for the last time, raising its valuation to RMB 500 billion, and once again increased its equity stake by 2.3%.
At that time, Huayang Group's shareholding ratio in Qunxing Capital reached 10% and continues to this day, while Huayu's personal shareholding was diluted to 0.97%.
Fang Hong does not hold the equity of Qunxing Capital in his personal name, but does hold it indirectly through a trust fund he controls. During the development of Qunxing Capital, Guo Jiadi institutions were introduced, and the ownership structure has also undergone corresponding changes.
Several Guo Jia team institutions now collectively hold 40% of Qunxing Capital's equity, but the trust controlled by Fang Hong is still Qunxing's largest shareholder with a 39% equity ratio.
At this time, Tian Jiayi looked at Fang Hong and asked, "What do you mean?"
Fang Hong said slowly: "Then let's sell it. Hua Yu's 0.97% doesn't need to be moved. Huayang Group will sell half of it, which is about 5%. Let the five Guojia Team institutions each take over 1%. If we don't sell it, I guess
It’s hard for Hua Yongming to have a solid night’s sleep.”
Obviously there is no other reason, because the size of Qunxing Capital is now too huge, especially the expansion of nominal value caused by the surge in the stock market, so that its asset size has exceeded the astronomical figure of 37.5 trillion.
Huayang Group holds 10% of the equity, which is 3.75 trillion.
However, Hua Yongming has become increasingly uneasy over the years, especially in the past two years. He is both happy and worried about this. The biggest reason for his worry is precisely the rapid expansion of the size of his assets.
Hua Yongming knew very well that he had taken a huge advantage. He had almost won all the way over the years. In fact, his contribution was not much, and it all depended on his early embrace.
With the rapid expansion of the scale of assets, Hua Yongming felt more and more troublesome and even hot. He was very afraid that the Huayang family would starve to death if he ate too much. He took too many advantages and made too little actual contribution. Sometimes, not only was it not a blessing,
Dividing is a disaster.
What makes Hua Yongming most uneasy is that he knows very well that there are some stains in the history of his family. Although the environment at the time dictated that many people got up like that, and it doesn't matter now, but Hua
Yong Ming was very afraid that one day in the future he would be accused of this matter.
The advantage he took was indeed too much compared to his contribution. In addition, his family's wealth history was not as clean and pure as that of Fang Hong, and his ability and contribution were incomparable. Hua Yongming really felt that it was too hot to take so much.
As the scale of assets grows larger, he feels more and more hot.
That's why he wanted to sell half of his shares, for no other reason than to have peace of mind and be able to sleep soundly. Even if someone will accuse the past one day in the future, someone will come out to protect the safety of today's operation.
.
Fang Hong smiled and said: "This old fox is quite stable."
Tian Jiayi frowned slightly and thought: "Just 5% of the equity is still a huge asset of about 1.9 trillion according to the current nominal value. Guo Jiayi's organization cannot afford so much money to take over."
Fang Hong glanced at the beautiful assistant: "What are you thinking about? Will he dare to accept the 1.9 trillion Hua Yongming? His current mentality is that he can't wait to give it away for free, hoping to find someone who can sleep at ease in the future. Although he is getting older,
But my mind is still clear, and I can pick it up and put it down, which is not easy."
After eating such a huge vested interest, and being willing to voluntarily spit out most of it, it is not something that ordinary people can have the courage to make a decision.
Speaking of this, Fang Hong paused, thought for a while and then added: "Since you asked for my opinion, then give it your opinion. Squeeze out the bubble valuation part, then make a big discount, and the price is 750 billion."
Give cash to Huayang Group, and each company will pay 150 billion to take 1% of the equity, each company will receive 30 billion per year, and the delivery will be completed within five years."
Fang Hong smiled faintly and said: "Back then, Huayang Group only invested more than 30 billion yuan in total. In exchange for the rise of Huayang Real Estate today, it has obtained 750 billion in cash assets and still holds 5% of Qunxing's equity. He has no idea at all.
