"Listening to your story is not worth so much money," Qian Wenhan said with a smile, "If you really want to take over Taihua, it will mainly involve overseas assets. Dongjiang Securities will have great restrictions. Sun Hung Securities
We can probably only squeeze out two to three billion yuan here at the moment!"
The purpose of Cao Mo's bid to acquire the controlling stake in Taihua was also to solve the subsequent construction problems of Cornero Marina New City. This involves Tianyue's current series of investments along the shores of Lake Cornero; in the future, he may even invest in Cornero Cement
and other assets into listed companies.
These are one of Tianyue's core interests in Africa, and Cao Mo will fight for them no matter what.
However, because it involves overseas assets in areas with political instability and low economic development, even if all high-quality assets with great profit potential, such as Cornero Cement, are put into listed companies, it will be difficult for investors to attract domestic investors.
and institutional support.
This directly limits the room for Taihua's stock price to rise in the future, not to mention that after taking over Taihua, they have to solve a lot of mess first.
Qian Wenhan didn't have much willingness to participate, and Cao Mo could understand.
When he came back to see Ge Jun and Qian Wenhan this time, he was also thinking about how much he could get from them; besides, he had other projects in hand and wanted to involve Ge Jun and Qian Wenhan.
Xu Bin had known for a long time that Huachen Industrial was in contact with some potential buyers to discuss the transfer of vehicle manufacturing assets. Tianyue Industrial was still very weak. In the early stage, they could only focus on product design and research and development of motorcycles and engines.
I'm not qualified to take this matter into consideration yet.
Of course, Xu Bin also talked privately with Huachen's old colleagues and leaders about the idea of Tianyue Industrial taking over part of Huachen's car-making assets, but even his old colleagues and leaders scorned his idea.
.
A month ago, Xu Bin officially received Cao Mo's instructions to contact Hua Chen to discuss the acquisition of car-making assets, but the progress was not smooth; even many old colleagues and bosses with whom he had a good relationship in the past had a sudden attitude toward him.
Calm down.
This is not what Huachen Group has in mind for Xu Bin and Xu Lizheng.
But the management of Huachen's passenger car and motorcycle divisions are generally resistant to negotiating with Tianyue Industrial when there are other options.
Cao Mo was particularly touched by this.
The last time Cao Mo returned to China, Dongsheng's capital chain was already extremely tight, but the board of directors still didn't mention it at all. It could even be said that they deliberately avoided talking about attracting investment, and even thought about borrowing more than ten or twenty dollars from Cao Mo.
Overcome the current difficulties.
Shen Ji and Chen Rong all found it incredible.
Is this because Ding Zhaoqiang is so naive that he really thinks Cao Mo is a weak and easy-to-compromise person, or is Dong Chengpeng really capable of changing clouds and rain with his hands?
Or maybe Ding Zhaoqiang really doesn’t understand Han Shaorong’s work style at all, and doesn’t know what kind of uncertainties and risks there will be in cooperating with Han Shaorong?
To put it bluntly, except for Ding Zhaoqiang who found it difficult to let go of his condescending attitude toward Cao Mo, most of Dongsheng's top management couldn't accept that Cao Mo, who was just a low-level employee of Dongsheng four or five years ago, suddenly transformed into Dongsheng.
The major shareholder becomes the boss above their heads.
When did Yang Deshan correct his psychological awkwardness when he was fighting Cao Mo with all his strength? And Xie Sipeng really couldn't find a higher development path, so he decided to join Yibogu Mining.
Xu Bin and Xu Lizheng jumped out of Huachen and became prosperous. Their former superiors in Huachen's passenger car and motorcycle division may have been envious and jealous, but that was it.
However, if Tianyue in turn acquires the Huachen Passenger Car and Motorcycle Division, and Xu Bin and Xu Lizheng turn to become their bosses and leaders, the impact and harm to the hearts of these people will be great.
As long as there are other options, the management of Huachen's passenger car and motorcycle business will definitely resist contact and negotiation with Tianyue Industrial.
However, the situation is always stronger than the person.
In the past month, in addition to Huachen Industrial's own operations deteriorating, the external economic crisis has also intensified.
The two buyers who were interested in taking over Huachen's car-making assets and had already entered the substantive negotiation stage saw the sharp decline in passenger car sales at home and abroad in the second half of this year due to the economic crisis, and their own funds were also becoming tight.
In the past half month, they have withdrawn from negotiations one after another.
As the most disliked company in Huachen Industrial, Tianyue Industrial, which had not been qualified to enter the substantive negotiation stage before, unexpectedly became the only buyer.
Although Qian Wenhan's Xinhong Investment and Dongjiang Securities' Industrial Investment Fund have become shareholders of Tianyue Industrial after taking over part of the shares withdrawn from Dongsheng, their shareholding ratios are not high, at 5% respectively.
2%. On the other hand, the new board of directors has not had time to hold a re-election meeting, so there is no real-time communication with Qian Wenhan and Ge Jun on this matter.
Instead, Cao Mo met Qian Wenhan in person today, and Ge Jun explained the details.
"Huachen Industrial's car-making assets, despite the fact that they have not been profitable in the past few years, are not low in scale. Even if we can barely scrape together the funds, are Tianyue sure that we can absorb it?" Ge Jun frowned, worried.
asked.
Xu Bin, Xu Lizheng, and Huang Yijiang led Tianyue Industry and did a pretty good job. However, Tianyue Industry only has assets of several hundred million and how much technology and talent accumulation it has to undertake car manufacturing that is tens or twenty times the scale.
Regarding assets, to say that Ge Jun and Qian Wenhan are not worried about screwing up is to deceive themselves and others.
"My heart is not as wild as you think. It is too difficult to take over all the car-making assets of Huachen Industrial, whether it is digestion or financing, and there are risks that are difficult for us to control. What Xu Bin and the others are now proposing is that they hope to
Take over Huachen's pickup truck production line and the corresponding technology and qualifications!" Cao Mo said, "They didn't have the confidence to negotiate with Huachen before. Until the other two buyers that Huachen contacted withdrew from negotiations, they only had two or three buyers a day.
The phone call to report the work was actually urging me to return to China."
In China, pickup trucks are classified as freight vehicles and are subject to unified management, making their use in most cities subject to strict restrictions. This has also led to the delay in the domestic sales market for pickup trucks.
Huachen spent huge sums of money to introduce pickup truck production lines and technology in the mid-1990s when China planned to relax the management restrictions on pickup trucks. However, ten years later, not only have domestic management restrictions on pickup trucks not been relaxed, but they have also gained more.
strict.
After that, Huachen successively independently introduced production lines and technologies such as cars, but its operations have always been unsatisfactory, and it has now become the most serious drag on the performance of listed companies.
If Huachen wants to avoid the bad luck of delisting, it needs to replace the assets that are the most serious drag on its performance from the listed company before the end of this year, and then replace them with some highly profitable assets to complete the goal of delisting first.
Before the economic crisis emerged, Huachen Group did not say that it would definitely sell off the car-making assets it had exchanged from the listed company.
However, now the situation has taken a turn for the worse, and both buyers who have entered the stage of substantial negotiation have withdrawn one after another. Huachen Group's overall operating conditions are even worse, and its willingness to sell its car-making assets has become stronger, and it may even be split up.
There is a sale to be discussed.
The buyers who had been in contact with Huachen before were mainly focused on the growing domestic passenger car market. The positioning of pickup trucks in the country was really embarrassing, so Huachen had to pack pickup trucks into the negotiations.
Therefore, even if Tianyue is willing to take over the pickup truck assets that Huachen internal and other buyers regard as a burden at this time, it is completely negotiable.
Although new car sales in the entire African region are very low, and most of the car sales market in countries such as Kanem is still occupied by second-hand cars, pickup trucks, as one of the best-selling models in Africa, are not restricted by various domestic conditions.
The overall sales scale is even more impressive than that in China.
As for Tianyue Industry, it has taken over the distribution rights of Huachen Pickup in West Africa from the beginning, and is quite familiar with this business.
Now that Tianyue Industrial has taken over Huachen's pickup truck assets, there is no practical difficulty in digesting it, either technically or in overseas markets.
In addition, pickup trucks and small and medium-sized off-road vehicles can share the same production platform. Taking over Huachen's pickup production line and technology, operations team and other assets, there are no practical obstacles to transforming into the production of small and medium-sized off-road vehicles - Xu Bin and the others are also doing a good job in production.
Plans for pickup trucks and small off-road vehicles.
The domestic market has extremely strict management of qualifications for passenger cars. An important reason why some buyers were willing to take over Huachen's car-making assets was to see Huachen's complete set of assets in the domestic market.
When Tianyue Industrial takes over Huachen's pickup truck assets, it is of course impossible to obtain their most precious passenger car qualification. In theory, the small and medium-sized off-road vehicles produced through transformation cannot be sold domestically.
However, the country is very active in encouraging the export of automobiles and other industrial products. After Tianyue took over Huachen's pickup truck assets, it was not difficult to apply for the production and export qualification of small and medium-sized off-road vehicles.
Tianyue Industrial can indeed produce small and medium-sized off-road vehicles and sell them overseas for more than three to five years. It will not be too difficult to apply for domestic production and sales qualifications.
The more critical point is that Huachen's production line with an annual output of 40,000 pickup trucks, related technologies, and operating production team, the package price is just over 600 million; this is a price Tianyue Industrial is fully capable of affording at this time.
"If you want to do it, just do it. Is there anyone else in the Huachen Group who wants me to come forward to come to an agreement with Ge Jun?" Qian Wenhan said straightforwardly after hearing Cao Mo explain the relevant situation in detail.
As long as Tianyue Industrial does not take too big a step forward and is sure to have the ability to absorb the assets of Huachen Pickup, Qian Wenhan certainly cannot object; and he only holds 5% of the shares in Tianyue Industrial, so he will share 30 million in proportion.
He has no pressure at all when it comes to RMB capital injection.
"If we can reach an agreement with Huachen, I think half of the funds needed will be additional capital injections from major shareholders. Can the other half be borrowed from banks in the name of Tianyue Industrial, or solved in some other way?" Cao Mo asked.
.
Cao Mo nominally held less than 70% of the shares of Tianyue Industry, but in fact Xu Bin, Xu Lizheng, Huang Yijiang, Shen Ji and others could not raise money from other channels to participate in the capital injection, so he had to lend them some funds first.
.
If the required funds were all additional investment from shareholders, Cao Mo would probably have to come up with 500 million.
Cao Mo still wants to reduce the consumption of his own funds as much as possible...