As for how to completely kick Wang Qingxiong out of the game, Fang Hong has already figured it out. The series of terms signed by Bell Tai Capital and Wang Qingxiong are closely linked, as is the three-step strategy formulated by Fang Hong to annex Hengtong Pharmaceutical Group.
They are interconnected.
This third step of the strategy is to finally kick Wang Qingxiong out of the game and wipe the slate clean.
Qunxing Capital has closely planned this merger plan. It first suppressed the valuation of Hengtong Pharmaceutical Group. The company's total assets are about 18 billion, and the company's net assets are about 10.2 billion. Finally, it gave the company a valuation of 9.2 billion for the acquisition.
As for its assets, Hengtong's equity and mess are definitely not needed. Anyway, it only needs assets, so there is no need to worry about taking over a pile of debts.
Wang Qingxiong had no choice. Who asked him to sign the terms of the right to sell with Chung Tai Capital? Who told Zhong Tai to choose Qunxing Capital as the seller?
According to the terms of the lead sale right, Wang Qingxiong also had to sell to Qunxing Capital.
Qunxing Capital holds 88% of the equity of Ruihe and is already the actual controller, that is, it has absolute control, and control rights come with a premium, generally ranging from 25% to 35%.
And the assets of Hengtong Pharmaceutical were valued at 9.2 billion. Why is there no control premium? Because Qunxing bought the assets of Hengtong Pharmaceutical, not the equity of Hengtong Pharmaceutical. The control of Hengtong Pharmaceutical is still in the hands of Wang Qingxiong. He is absolutely
When it comes to controlling Hengtong Pharmaceutical, of course there is no control premium.
Not only is the premium for control rights gone, but it is also discounted by about 10% compared to the net asset size. This is equivalent to selling the equity in Wang Qingxiong's hands at a 30% discount.
Just give Wang Qingxiong a 30% discount to get him out? Far more than that, Fang Hong wants him to "break his bones" and get him out.
At that time, Wang Qingxiong still holds 9% of Ruihe's equity. If he wants to completely eliminate him, he will usually ask him to repurchase or buy it out directly. However, this way he will inevitably ask for a sky-high price, and Fang Hong will not let him sit on the ground and raise the price.
.
How to operate?
That is the third step of the strategy to annex Hengtong: judicial auction of Ruihe Company!
The first step of the strategy has paved the way for the third step. Stars Capital pledged 100% of the equity of the shell company Ruihe to a bank financial institution in exchange for 3.8 billion. After completing the second step of the strategy, Stars Capital
It holds 88% of the shares of Ruihe Company and is the largest shareholder with absolute control.
At that time, Ruihe will directly call the bank and send a notification letter or something to the bank. The company currently has more than 20 billion in liabilities and non-performing assets and has no money. Therefore, Ruihe cannot afford to repay the 3.8 billion that it owes your bank, so it can only
Breach of contract!
In jargon, this is called a technical breach of contract.
Good guy!
When the bank sees you, a handsome young man, you still act like this if you don’t pay back the money?
So he directly sued Ruihe Company and put 100% of Ruihe's shares in a public judicial auction.
Once entering the judicial auction process, 9% of the shares in Wang Qingxiong's hands had already been discounted by 30%, and they were further discounted again, which was directly broken.
When Ruihe Company originally pledged 100% of its equity to the bank, it gave it a valuation of 8.1 billion yuan. Now it is going to be auctioned by a judicial auction, and the court auction will be at a discount.
Enter the judicial auction process, and the first auction of the judicial auction is usually 70% of the assessed price, which is a 30% discount. A 30% discount of 81 million means the auction price is 5.67 billion.
If there is no bidder in the first auction and the auction fails, the second auction will be a sale and the price reduction will not exceed 20% of the previous starting price. Assuming that the second auction is discounted by 15% from the basic price of 5.67 billion, then the second auction price will be 4.8 billion
19.5 million yuan.
Fang Hong’s strategy is to make the first auction unsuccessful and then sell it when the second auction is discounted by 4.8 billion yuan.
How to take action?
It's very simple. Let another vest company of Qunxing Capital pay 4.8 billion to buy 100% of Ruihe's equity. The reason why the auction is expected to be failed is that there is no fear that someone will come to compete with Qunxing because Fang Hong asked Ruihe Company to deal with it.
Before the pledged bank committed a technical default, that is, before triggering the judicial auction process, Ruihe had already been given 20 billion yuan in debt.
And it is perfectly reasonable, legal and compliant, and no legal loopholes can be found.
With these 20 billion yuan in liabilities or non-performing assets packed inside, who dares to come and grab the meat?
There really are people who dare to come out halfway to take pictures.
Fang Hong will never rob him. Once he takes the photo, he will directly force him to pay back the debt of 20 billion yuan!
Earning 20 billion in vain, Ruihe will definitely fall into the hands of Qunxing in the end. This kind of good thing is rare.
Therefore, in fact, the situation must be that except for Qunxing Capital, no one in the entire market dares to snap up the property. Except for Qunxing’s vest company, anyone who comes is a pure and innocent person.
After the Majia Company bought it for 4.8 billion, it owned 100% of the shares of Ruihe Company, and Wang Qingxiong was completely eliminated, and he did not own a single share. Not only did the company have nothing to do with him from now on, not only did he exit without a premium, but in the end
Still got broken bones and was eliminated.
In this game, Wang Qingxiong had no chance to object. This carefully arranged game had already been set up for him. He had to jump or not. When he jumped into the first pit of Zhongtai Capital,
In the future, a series of pitfalls will be unavoidable, and we can only accept the fate of being bloodbathed once by Zhongtai Capital and then again by Qunxing Capital.
It was sold at an auction price of 4.8 billion yuan, but Wang Qingxiong could only get 432 million yuan after the 9% of his shares were auctioned off. He founded Hengtong Pharmaceutical and spent more than ten years of hard work to increase the company's asset size to more than 180 million yuan.
If it goes smoothly, it will surely reach the scale of 50 billion or even larger, and it is even expected to reach the level of 100 billion in ten years.
But now the fate that awaits Wang Qingxiong is to get 432 million and be completely eliminated. For ordinary people, it is of course an astronomical sum, but for rich people like Wang Qingxiong, it is nothing more than a little charity given by capital after a disastrous defeat.
In his eyes, what he got was not 432 million, but humiliation.
But at this moment in the office of the CEO of Stars Capital, Fang Hong thought for a moment and said in a deep voice: "After Wang Qingxiong is eliminated, he will inevitably become the object of sympathy. Instead, we, Stars Capital, will become the villain of the cruel capital group that slaughtered mainland entrepreneurs.
This is not okay."
Having said this, Fang Hong raised his head and looked at Hua Yu and said: "We can't let Wang Qingxiong become the object of sympathy. We want the outside world to know that he is a man who has accumulated evil and accumulated misfortune. He deserves this end. Go and dig out the dirty information about him."
, If you want to hammer him, then hammer him to death completely and there will be no chance for him to stand up."
Hua Yu couldn't help but shuddered in his heart. The big boss usually seemed like a harmless young man, but when he really showed his true strength, he was decisive and ruthless. It was true that he was kind but could not control his troops.
After a while, Hua Yu said: "It's not difficult to dig out the dirt on Wang Qingxiong. Just because he hides ancient prescriptions, openly supports traditional Chinese medicine but actually suppresses it, and even says that there is no problem if he keeps taking it, but once he stops,
The violent argument that the medicine is a good medicine can completely discredit him, just like a rat crossing the street, everyone shouts to beat him."
If this matter is revealed, Hengtong Pharmaceutical will inevitably plummet, but it will not have an impact on Qunxing Capital, because this annexation is the assets of Hengtong Pharmaceutical, and Hengtong's equity, including the Hengtong brand, is a mess, all of which were handed over to Wang Qingxiong
.
Yishengtang, a sub-brand of the original Hengtong Pharmaceutical Group, may have some impact, but this sub-brand is not closely related to the parent company, so the impact will not be too great.
What Fang Hong values most is the Chinese medicine practitioners who sit in various major Yishengtang stores, because it is really difficult to train Chinese medicine doctors, and truly talented Chinese medicine practitioners are extremely rare and precious.
At this time, Hua Yu changed the subject and added: "It's just that..."
He spoke but hesitated to speak.
At this moment, someone knocked on the office door.
Hua Yu turned his head and said, "Come in."
Fang Hong also looked over. As soon as the office door opened, he saw two women walking in. Hua Yu's assistant Yue Qing walked into the office with another woman.
"Mr. Fang, she is the applicant who came to apply for your assistant position, Tian Jiayi, and has passed our interview. You happened to be in the company, so you brought her here." Yue Qing said with a smile.
If you pass the company's interview, you can be said to be one in a million, but you still need to pass Fang Hong's final interview.
At this time, when Fang Hong heard this, he immediately cast his eyes on Tian Jiayi and looked at her for a while.
Her outfit is a combination of a summer shirt and a skirt. Her clothes are simple, neat and textured. She chooses a V-neck to add a bit of momentum. She has a high ponytail. The overall image of her outfit does not have the youthful atmosphere of a newcomer, but it is not too over the top.
Mature and old-fashioned, but somewhere between the two, she is a gentle and capable intellectual lady.
When Fang Hong looked at Tian Jiayi, she also looked at Fang Hong, feeling very surprised. For a time, she thought Hua Yu's assistant was joking with her.
Obviously, he didn't expect that the person who might become his direct boss would actually be such a young...brother?
It is normal to have such thoughts. After all, judging from the appearance, Fang Hong should never be in such a position at his age.
But seeing the respect of Hua Yu and his assistant Fang Hong, Tian Jiayi realized that this was not a joke. After looking carefully, he seemed to feel a unique temperament from Fang Hong, or some kind of aura of a superior person.
.
Hua Yu's assistant handed Fang Hong a piece of material he had brought over, which was a resume report on Tian Jiayi.
At this time, Fang Hong withdrew his gaze and took the handed materials, opened them and looked at them.
[Tian Jiayi, 26 years old, born in 1983, graduated with a PhD this year...]
Fang Hong immediately looked away from his resume and glanced at Tian Jiayi with some surprise. Master's degree graduates must be around 27 years old. Unexpectedly, she got a doctorate at the age of 26, which shows that she has excellent ability.
It is very young to graduate with a doctoral degree at the age of 30.
Combining good looks, figure, abilities and talents, he can be regarded as one of the elites.
Fang Hong retracted his gaze and continued to look at the content of his resume. His native family was not prominent, but it was also a middle-class family. His father was a high school teacher and his mother worked in a bank.
After roughly reading the resume materials, Fang Hong looked at Tian Jiayi again and said with a smile: "Very good, you are hired. Come work with me from now on."