Huang Feifei is right. Companies of this nature are very common in Xiangjiang. Many family businesses are very good at using such companies to not only cope with policy restrictions in certain countries, regions or industries, but also to avoid taxes reasonably and even to raise taxes.
To transfer funds (profit) and hide the true equity.
Of course Sun Dahai understood what Huang Feifei said, and he could even see at a glance the purpose of Changxiang Group's doing this. In all likelihood, it was to transfer this part of the equity to a place they thought was suitable in the future.
In a simple land transaction between Lan Sili and Changxiang Group, Xiangjiang Changxiang suddenly appeared and intervened as a guarantor.
The draft clearly states that Changxiang Group will acquire the former Landa Garment Factory site (nearly thirty acres) held by Lan Sili in the form of stock exchange. Lan Sili is responsible for completing the construction of four employee dormitories on the existing land within one year, totaling
The relocation of more than 300 households of Lansili employees.
The shares used for replacement by Changxiang Group are not allowed to be transferred, pledged, guaranteed or other transactions within three years.
After three years, Lan Sili can request Xiangjiang Changxiang to redeem these shares at any time based on the Changxiang Group's per-share market value (unlisted) or market price (listed and circulated) in the previous fiscal year.
As the guarantor of this transaction, Xiangjiang Changxiang is responsible for unconditionally advancing the capital to redeem the shares and reprocessing these shares according to the decision of the board of directors at that time.
This is what Huang Feifei questioned.
There was no problem with Changxiang Group exchanging its own shares for the land. But a few years later, it became the case that Xiangjiang Changxiang would repurchase it first and the board of directors would deal with it later.
If the equity composition of Changxiang's board of directors is significantly different from now, and if there is a dispute over the disposal of this part of the shares, then let's get rid of it.
"Ha, is there such a thing?" Although Sun Dahai understood Changxiang Group's thoughts and future development trajectory, he did not take this into consideration.
"It seems that they did not go through the Academy of Sciences, but directly approached Lan Sili to discuss the land transfer, not only because Lan Sili had the land they wanted most, but more importantly, so that Xiangjiang Changxiang could legitimately intervene in this transaction.
Hit." Sun Dahai sighed, these people are really capable of scheming.
Only then did Sun Dahai realize that Lan Sili is also a listed company in Xiangjiang. If Changxiang Group is listed in Xiangjiang in the future, and the two companies settle in Hong Kong dollars in the Xiangjiang market, and make separate announcements to shareholders, it will be simpler and more reasonable.
, no one will raise any objection.
As for the party that suffers, it must be the Academy of Sciences, the wholly-owned majority shareholder behind Changxiang Group.
Even though this transaction involves a small amount, it only costs tens of millions of yuan and less than 1 point of the shares of the Imagination Group. But for the state-owned capital behind the Imagination Group, it is like "boiling a frog in warm water".
In this way, it was slowly eaten away bit by bit.
Lansili was only established to help the government reduce the burden on enterprises. Thanks to the government's policy support for the Zhongguancun Computer Street, the actual price of this land is now countless times higher than when Lansili merged with the garment factory.
The once isolated factory area in a vegetable field is now surrounded by large and small computer accessories stores. Since this land occupies the junction of the Fourth Ring Road and Zhongguancun North Street, the geographical advantage is very significant.
The Imagination Group is very discerning and fell in love with this place at first glance. If the headquarters building of the Imagination Group can be built here, it will be of great help in establishing the Imagination Group's dominance in the domestic computer industry and demonstrating its corporate strength.
At present, the land price in the capital is not high, and this land is industrial land, so it is not worth a lot of money. Moreover, the factory's clothing production lines have basically been moved to the garment industrial park, and only the production workshop of the quilt factory is left here.
It's also easy to move away.
But there are four dormitory buildings of Landa Garment Factory here. If this land is really to be transferred, corresponding replacement procedures need to be followed and the employees must be settled first.
Either Changxiang Group will come up with several dormitory buildings, and if you want to buy them, you will have to pay for them, and Lan Sili will handle it herself. In addition, rental and demolition subsidies will be included, so after calculation, it will cost at least tens of millions of yuan to purchase the land.
Although the cost of land acquisition is like this, it is only a base number. Since Changxiang Group does not use cash transactions, Lansili will increase the price appropriately according to the transaction terms proposed by Changxiang Group to ensure that its own interests are not lost.
Sun Dahai suggested that Lan Sili could appropriately increase her replacement expectations.
The purpose of the other party caused them to care more about the restrictions and redemption terms on the shares, and they did not care too much about whether the stock for replacement was worth 20 million or 30 million.
Imagination Group is not yet listed and has no obligation to disclose an annual report. Moreover, their financial situation is calculated using their calculation methods, so the value of Imagination Group's shares is only nominal.
Even regardless of the difference in calculation caliber, it is assumed that the various financial data of Imagination Group comply with the disclosure standards of listed companies. But taking stock valuation as an example, if it is valued based on a price-earnings ratio of eight times, it is still valued based on a price-earnings ratio of 15 times.
All are possible.
However, these two valuation methods will cause the share price of Changxiang Group to nearly double.
That's why Sun Dahai said that asking for 10 million more shares is nothing more than a financial figure. Anyway, these shares will be repurchased by them in a few years. Therefore, the real person in charge of Imagination Group does not care about getting more shares now.
Sell out some stocks to exchange for land.
Huang Feifei and Sun Dahai discussed it for a while and decided to hand over this matter to Lan Sili's administrative manager, Ye Danni from Xiangjiang. She would have detailed discussions with the people of Changxiang Group, and Zhang Jing would help supervise it.
After saying this, Sun Dahai saw that Huang Feifei was in a good mood, so he talked to her about preparing to arrange Wu Dawei to take charge of a new project.
Huang Feifei let out a long sigh and said that she already knew it, and it was up to Wu Dawei to decide.
It turns out that Wu Dawei, a licking dog, had already told Huang Feifei the truth about the situation after Sun Dahai had a detailed discussion with him, and handed over the decision-making power to Huang Feifei.
Regarding this project alone, Huang Feifei is still very optimistic. She even helped come up with ideas to acquire one or two bicycle factories before the launch of electric vehicles and start with electric bicycles.
Through various problems that arise in the actual use of batteries, we organize targeted scientific and technological research and research and development directions to lay a solid technical foundation for the future launch of electric vehicles.
Speaking of which, this matter is definitely a good thing, but Huang Feifei is also very angry in her heart.
I decided to give up most of my career, plan to take care of my husband and raise children after getting married, and be a good wife who can stay at home most of the time. However, Wu Dawei is about to start wandering again. It's strange that Huang Feifei can be happy.