On the one hand, it is not convenient to talk about Xu Xin's matter in front of Cheng Xi; on the other hand, this matter is not direct evidence - it was Dong Chengpeng's suggestion to transfer Xu Xin to be responsible for following up the cooperation projects related to Tianyue. , but it was also approved by Ding Zhaoqiang.
If Shen Ji was really asked to come over and say that Dong Chengpeng had ulterior motives, Ding Zhaoqiang might even think that they were suspicious of others and making false accusations.
And asking Xu Bin to contact Huachen will only put pressure on Ding Zhaoqiang and other people in Dongsheng who hope to obtain financing from Tianyue; it will also put pressure on people like Dong Chengpeng who do not want to see Tianyue and Dongsheng cooperate more closely. In other words, they are probably more happy to see this kind of situation where they have the opportunity to cause trouble.
Don't think for a moment about what evidence you can find. What kind of society is it now? It's not about catching a traitor. It's impossible to say that finding out how many times Dong Chengpeng and Han Shaorong talked on the phone or met several times will make him betray Dongsheng and the Ding family. Evidence of interest?
And the key to everything is Ding Zhaoqiang.
Ding Zhaoqiang is not very willing to accept Tianyue's capital injection.
Otherwise, given that Ding Zhaoqiang and his family hold 70% of the shares of Dongsheng Real Estate, he would be able to overcome all opinions and would not be led by Dong Chengpeng and the other two directors and shareholders.
Or maybe Ding Zhaoqiang actually knows that Dong Chengpeng is very close to Han Shaorong, and he doesn't mind cooperating with Han Shaorong, but is waiting for Han Shaorong to give him a price?
Cao Mo considered everything and found that there were too many variables in the matter, and Ding Zhaoqiang's mind was too erratic.
He has shown enough sincerity by rushing back to China this time, but it is impossible to beg to lend Dongsheng the most precious cash at this stage.
Cao Mo pondered for a moment, took a deep breath and asked Chen Rong:
"Aunt Rong, how much personal debt do you want to repay in the short term? Do you want to find Dongjiang Securities or another institution to replace it first?"
In the short term, neither the listed company nor Dongsheng Real Estate will be able to pay dividends or repay the debts owed to shareholders. Therefore, the funds that Chen Rong previously borrowed from other places and transferred to Dongsheng Real Estate must now be considered. Short-term repayment issues.
As long as Chen Rong is not under pressure to repay debts in the short term, even if the debt crisis of Dongsheng Real Estate, listed companies and the Ding family breaks out, Chen Rong does not have to worry about being unable to handle it for the time being.
"The real estate company had a payable amount two months ago, which was short of 300 million. It was improvised by several shareholders. I didn't have any cash at the time, so I got a short-term payment of 30 million from the finance company. This needs to be done in a It will be repaid within the month, and there is also a loan of RMB 60 million from Bank of China that will not mature until March next year." Chen Rong said.
"I'm going to see Ge Jun tomorrow to see if I can make a two- or three-year trust. I'll raise 100 million to replace your two loans, Aunt Rong." Cao Mo said.
Cao Mo had a lot of funds, but when it came time to use them, he would still be stretched thin.
There were no conditions in Africa before, but no matter what we say in China, we should make good use of financial leverage as much as possible to reduce the consumption of cash in our hands.
Even though money is very tight now, if Dongjiang Securities can find inferior funds and offer relatively high interest rates, there will still be many wealthy families willing to invest their remaining funds in trusts.
In this way, Cao Mo only needs to provide 20 to 30 million in inferior funds to temporarily solve the short-term debt repayment problem faced by Chen Rong. More importantly, he can send a signal to Ding Zhaoqiang that Dongsheng's stall He won't be involved anymore. You can do whatever you like. He doesn't want to speculate on such complicated thoughts.
"..." Shen Ji smiled bitterly and shook his head.
If Cao Mo gets angry, he can stand aside and do nothing. Chen Rong can also choose to wait and see for the time being, but Shen Ji cannot have such a detached mentality.
Regardless of the predictions of Ge Jun, Qian Wenhan and others, regardless of his work practice over the years, or the reality of the current global economy, the subprime mortgage crisis is taking the global market into a deeper slide.
The debt crisis of Dongsheng Real Estate, Hexi Fund, listed companies Dongsheng Group and Ding Family is not independent, but forms a chain whole that affects the whole body.
This is related to the rapid development strategy of Dongsheng Department in recent years.
In the early years, Dongsheng devoted all its efforts to the development of building materials, grain and oil businesses, and successfully packaged assets into listed companies. Later, it used the assets obtained from the reduction of listed companies and the annual dividends of listed companies to establish Hexi Fund to conduct various investments. .
In 2001 and 2002, Dongsheng developed and built the Dongsheng Building to be used as Dongsheng's headquarters building. During this period, seeing the opportunity for a big explosion in real estate, especially the commercial housing market, Dongsheng also worked with listed companies and In addition to Xi Fund, all efforts were devoted to real estate development.
Real estate development is an asset-heavy industry, especially since Ding Zhaoqiang has the ambition to become a first-class real estate developer in a short period of time. Whether he is hoarding land or building large-scale buildings, he needs to use huge capital flows.
Dongsheng Real Estate itself has a limited scale, and the amount of money it can directly borrow from financial institutions is far from meeting the needs of rapid development. Ding Zhaoqiang borrows the shares held by the Ding family in the listed company from financial institutions and lent the money to Dongsheng Real Estate. use.
At the same time, Hexi Fund also tried every means to raise loans and lent them to Dongsheng Real Estate.
In the past three or four years, Ding Zhaoqiang has used all kinds of leverage to the limit, even illegally occupying part of the listed company's cash, pushing Dongsheng Real Estate's debt scale to an astonishing 30 billion.
If the sales of new properties in Xinhai and surrounding areas had not plummeted since April 2007 and could have maintained the capital circulation rate before 2007, there would have been no problem with Dongsheng Real Estate's liquidity, but the reality cannot be completely true. Proceed as expected.
Sales of new properties began to decline in 2007, and the capital chain of Dongsheng Real Estate began to tighten. It had to borrow short-term loans many times, and semi-mandatory requirements for shareholders to provide part of the borrowings to make up for the lack of liquidity. This also made the entire Dongsheng Real Estate Sheng's short-term debt is piling up.
The trust fund negotiated with Cao Mo and Dongjiang Securities years ago had a one-year loan option.
Taking the entire Dongsheng Group into consideration, including important shareholders such as Chen Rong, the total short-term debt that needs to be repaid in three months is as high as 3.5 billion, and the debt that needs to be repaid within one year is as high as 12 billion.
Even if the market does not continue to deteriorate, internal employee promotions can continue smoothly. Within three months, the Dongsheng Department can only provide less than 2 billion in funds.
What I am worried about now is how to fill this short-term gap.
"They say you are asking for a high price and then you have to pay back the money - don't worry about how unreasonable the conditions offered by Dongsheng's board of directors are. Why don't you come up with a plan first so that I can go back and do business?" Shen Ji said.
It was difficult for Shen Ji to be in the middle, but he could neither force anything from Cao Mo nor sit idly by. He could only ask Cao Mo to put forward some specific conditions for cooperation first, and he would rush around to see if it was possible to find a relationship that would satisfy both parties. An acceptable solution.
Shen Ji felt that in this way, people like Dong Chengpeng would not lead everything.
"If you ask me to propose a plan, it must be very harsh..." Cao Mo put his head in his hands and leaned on the back of the couch and said.
"You have to bring it up so that I can know how big the difference is between the two sides." Shen Ji said.
"... Dongsheng Real Estate is priced at 8 billion. I will invest 2 billion in capital in exchange for 20% of the shares. Apart from this, I will not agree to any other conditions."
Cao Mo saw Shen Ji frowning as if he had eaten bitter melon, and said with a smile,
"Don't frown. Since Dongsheng treats me as an outsider, I will quote the price normally according to the current financial investment market conditions. If the market environment gets worse over time, the quotation will be lowered - you can take this Let’s submit a plan. Maybe your uncle doesn’t mind trading with Han Shaorong. With my quotation, he can negotiate with Han Shaorong; and if your uncle is interested in trading with Han Shaorong, Dongsheng and Hexi Funds are in Tianyue Industrial. I can repurchase the shares of Cornero Foods and Cornero Energy at a premium first, creating more room for negotiations between Dongsheng and Huamao, which can also be regarded as my due contribution to my old club. You, wait for this After the stall is cleared, come over and take over Tianyue Investment..."
Shen Ji smiled wryly and nodded. Cao Mo suggested another possibility, that is, his uncle might have regarded cooperation with Han Shaorong as a higher priority. Then they could produce evidence that Dong Chengpeng and Han Shaorong secretly colluded. What's the use; unless Han Shaorong's price is even more outrageous and unacceptable to the Ding family.
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Shen Ji drank tea for a while and then left. Cheng Zhengjie asked Cao Xiong, somewhat dumbstruck: "Did you know what Cao Mo was doing in Africa before?"
"I don't know now," Cao Xiong stroked his hair and said with a smile, "I can't make as much money as my wife, and I can't make as much money as my son. Why don't I care so much about myself? I'd better be my own B&B owner, and I'll do my best. There are dozens of people taking care of it, so it feels more nourishing..."
Cao Mo only explained everything he had done in Africa last year, but Cao Xiong didn't know the specifics at that time. He only knew that Cao Mo's annual profit might exceed 2 billion at the best time, so he was no longer eager to raise funds or Instead of borrowing money to further expand the scale of Muxiang B&B, we are patiently improving the quality of Muxiang B&B based on the current situation.
Not only does Cao Mo not talk about too specific things, Chen Rong also makes her own decisions about everything she usually does, especially specific investment matters, and she doesn't ask too much for his opinions, so she can maintain her career and family very well. 's boundary.
The reason why Cao Mo dragged Shen Ji to his house today to discuss work matters was mainly to make Cheng Zhengjie, who was confused, and Cheng Xi, who was shocked and was not able to digest the facts well, find out more about what he was doing. The country seems to be quite calm, but in fact there are undercurrents surging under the water; Cheng Zhengjie and Cheng Xi have a more intuitive understanding of the complex and subtle relationships between him and Dongsheng, Dongjiang Securities, Sun Hung Investments and Han Shaorong. .
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After Shen Ji left Tianzifang, he parked his car under the Hongqiao Road viaduct.
It's already ten o'clock at night, and the stream of brightly lit cars on the elevated highway is like a long queue.
Shen Ji lit a cigarette and let the evening breeze blow on his face. He sorted out his chaotic thoughts, flicked the cigarette butt to the side of the road in a very poor manner, and continued to start the car and drive towards the banquet garden on Longhua Road.
There is the residence of a woman who is not allowed to belong to the Ding family.
If it wasn't a particularly busy day, his uncle would stay in the banquet garden until eleven or two o'clock, and then leave and return home as if he had finished a hard day's work; and today his uncle would definitely be there, waiting for him to get clear news.
Shen Ji parked the car in front of the villa building by the scenic lake in the community. Through the wooden fence, he saw that in the brightly lit living room, his uncle and Dong Chengpeng were sitting drinking tea. The woman was almost forty years old, but her skin was like that of a girl. Delicate, with delicate makeup even at home, and wearing a close-fitting Hanfu, he was sitting at the tea table with his legs bent, making tea for his uncle and Dong Chengpeng.
Shen Ji got off the car and pushed open the wooden gate and walked into the semi-open courtyard in front of the villa building. Only then did Ding Zhaoqiang and Dong Chengpeng notice him.
"What took you so long?" Ding Zhaoqiang asked with a frown.
The woman used bamboo tweezers to take out a celadon tea cup from the tea tray, placed it in front of Shen Ji, and filled it with tea.
"I asked Cao Mora to go to my house for dinner, and I came over right after we talked about good things..." Shen Ji said.
In front of his uncle, Shen Ji was still more or less afraid even after working for all these years.
He was worried that his uncle would be furious after hearing Cao Mo's capital injection plan, and it would be hard to talk about it. He thought he had clarified his thoughts on the road just now, but when he picked up the tea cup, he felt that his mind was a little confused again.
"Why, Cao Mo is unwilling to help Dongsheng relieve the financial pressure?" Dong Chengpeng asked.
Seeing Dong Chengpeng's understatement, Shen Ji felt a little swollen on the back of his head.
"According to me, I should have made it clear to Cao Mo yesterday. There is no need to go around this roundabout way." Dong Chengpeng saw Shen Ji's embarrassed reaction and said to Ding Zhaoqiang while drinking tea.
"Did Cao Mo not consider it at all, or did he propose other conditions?" Ding Zhaoqiang asked Shen Ji calmly.
Seeing that his uncle had even considered a direct showdown with Cao Mo, Shen Ji felt even more confused. He secretly felt that his uncle might have considered cooperating with Han Shaorong as a way out, so now he would question Dong Chengpeng about secretly flirting with Han Shaorong. , in fact it has no meaning anymore.
Shen Ji took a deep breath and said: "Cao Mo hopes to inject 2 billion in capital and take 20% of the shares. No other conditions are attached to either party."
"Oh!" Dong Chengpeng smiled and continued drinking tea without making any comments, as if all this was within his expectation.
"The price is all over the sky, and you have to pay back on the ground?" Ding Zhaoqiang did not have a strong reaction, but looked at Shen Ji with confusion and asked.
"Cao Mo said that this is the fair price in the current venture capital financing market," Shen Ji said. "Cao Mo also proposed that if Dongsheng finds it difficult to accept his conditions, he can first repurchase Hexi Fund's investment in Cornero Energy. The shareholdings of Luo Food and Tianyue Industrial will relieve Dongsheng’s financial pressure.”
"Is he taking advantage of the situation? He delayed his return to China for more than a month. What a good plan." Dong Chengpeng asked in a very calm tone.
"Cao Mo said there will be a premium, but the specific premium still needs to be discussed." Shen Ji could only try not to be aroused by Dong Chengpeng's words, and said in a calm tone.
"oh!"
Ding Zhaoqiang's tone was very calm, but Shen Ji was very familiar with his temper and knew how dissatisfied he was.
Ding Zhaoqiang closed his eyes. The wrinkles at the corners of his eyes appeared very deep, and there were a lot of white hairs on his temples.
Shen Ji sat on the cloisonné porcelain stool and remained silent. He lowered his head and sipped tea. He just watched Dong Chengpeng's reaction from the corner of his eye.
"In this case, Cheng Peng, you should be responsible for talking to Cao Mo about the repurchase first - as long as the price is right, it can alleviate the financial pressure to some extent." After a long time, Ding Zhaoqiang opened his eyes and said in a very cold tone. .
Shen Ji knew that his uncle had agreed to sell his shares in Cornero Energy, Cornero Food and Tianyue Industry. Rather than withdrawing part of the funds, it was more about being dissatisfied with Cao Mo's strong reaction and deciding to decouple, right?
Could it be that his uncle had already talked to Han Shaorong without telling him, but Cao Mo was actually just a backup option?
Shen Ji thought for a moment and said: "Cao Mo is not really so harsh on Dongsheng. In fact, he is in a dilemma now - Taihua's financial pressure is actually tighter than Dongsheng's, Cao Mo's grievances with the Lu family, uncle Both you and Mr. Dong know that if the situation continues to deteriorate, this will be a good opportunity for Cao Mo to severely damage Taihua. Therefore, unless Dongsheng offers sufficiently tempting conditions, it will be difficult to persuade Cao Mo to give up this opportunity. .Cao Mo may have made such a condition because he doesn’t want to be in a dilemma anymore, right?”
"Oh? He wants to attack Taihua, what is he going to do?" Ding Zhaoqiang asked.
Shen Ji glanced at Dong Chengpeng and said: "The Lu brothers have pledged almost all their shares in Taihua Group, and they have all entered the warning zone where they need to supplement collateral or deposits - Cao Mo and Ge Jun. Well, they all judge that the domestic securities market will usher in a new round of adjustment, and they plan to secretly raise funds first, and then directly drive Taihua's stock price below the liquidation line before the new round of adjustment arrives."
"Is this the end?" Ding Zhaoqiang asked.
"Cao Mo wants to keep so much cash in his hand, so of course it can't end like this. He wants Ge Jun and me to start contacting institutions that accept stock pledge loans to Taihua..." Shen Jicong The woman took the teapot in her hand and poured tea for Dong Chengpeng.
"Is he going to launch a hostile takeover of Taihua?" Dong Chengpeng was suddenly startled, no longer as calm as before, and asked in surprise.
"That's the plan, but it may not work out," Shen Ji said. "The Lu family and Han Shaorong are too close, and the stock price is really going to cross the liquidation line. The Lu family would rather take advantage of Han Shaorong than us. But as long as he could severely defeat the Lu family, Cao Mo would not let go of this opportunity - so if the conditions proposed by Dongsheng were not to his liking, he would simply give up, right? He might also contact Hua Chen, let’s see if there is an opportunity to acquire part of Huachen’s assets and expand Tianyue Industry…”
After all, Shen Ji didn't want Tianyue and Dong Shengzhen to part ways, and deliberately weakened Cao Mo's intention to exert pressure. He hoped that his uncle could weigh the pros and cons.