In the conference room of New Era Real Estate, Lin Zuhui established a working group on the acquisition of Cathay Real Estate and asset reorganization; New Era Real Estate mainly includes Lin Zuhui, Liang Zhenxun, and external consultant Liang Botao.
Cathay Real Estate is an investment listed company, investing in real estate, industry, securities, catering, etc., with an asset value of about 600 million; of which the property value is 300 million, the securities value is 150 million, and the remaining assets are 150 million; the company has liabilities of 400 million,
Market value 130 million.
There are many reasons for high debt:
1. The property is rent-collecting. Although the property will appreciate in value, its high interest (loan to purchase the property) will eat up the rent of the property and increase the company's debt;
Second, the rate of return in catering, industry and other fields is not high and takes up a lot of the company's assets.
Third, the company's net profit last year (1985) was only 20 million yuan, which was not enough to cover bank interest expenses.
Of course, this company is essentially different from those listed companies that are on the verge of bankruptcy. It is a listed company with potential.
In the conference room, everyone has already done some research on Cathay Real Estate, guessing that Lin Zuhui may officially launch his attack today; last month's "Hong Kong and Macau Development" made Chinese Real Estate, a subsidiary of New Era Real Estate, make huge profits, which is exciting.
The entire group system.
Lin Zuhui said: "From now on, we are communicating with the board of directors of Cathay Real Estate about 'injecting capital into shares' and obtaining the resolution of the shareholders' meeting; at the same time, we are formulating an asset restructuring plan to 'turn waste into treasure' and give Cathay Real Estate a new look."
Everyone in the conference room was in high spirits. Their boss had too many nicknames, and they all praised his ability.
As a consultant to Lin Zuhui and his company, Liang Botao said: "So after the acquisition, how does Lin Sheng plan to position Cathay Real Estate? We all know that the flagship company of the New Era Real Estate Department's rental properties and investment securities is Chinese Land."
He was entrusted by Lin Zuhui to consult on the equity planning and structure of the New Era Real Estate Department, so he must understand Lin Zuhui's intentions.
Lin Zuhui nodded. He valued Liang Botao very much, and no one else paid him a salary. He was purely helping to consult on the structure and planning of his company.
"My idea is that we can use a series of operations to amplify the asset value and net assets of Cathay Real Estate; in this way, the benefits of New Era Real Estate will increase. It is like a treasure hunt, and we found the treasure. Of course,
The most important thing is the company positioning mentioned by Liang Sheng, which is actually very simple. Cathay Real Estate will become the flagship company of real estate management hotels in the new era."
Hotels are too important for a real estate company, not to mention that Lin Zuhui also likes to stay in hotels and book rooms.
Liang Botao nodded with satisfaction and said, "This is perfect!"
Liang Zhenxun also said: "According to the strength of our company and the wisdom of the boss, Cathay Real Estate will soon be renovated, with assets and market value greatly increased. We can then use the stock market to raise funds and acquire hotel assets soon."
If you want to enter the hotel industry, you definitely need a lot of capital, so you must know how to use the principle that listed companies can raise funds through rights issues and use investors' money for your own use to acquire hotel businesses and then digest them.
For example, New Era Real Estate plans to allocate 100 million funds this time to develop the hotel industry; however, New Era Real Estate does not consider directly purchasing the hotel business because it will not buy too much or too high-quality business; if it picks up the acquisition of Cathay Real Estate
, and then after reorganizing the assets of Cathay Real Estate, the next step is to use high-quality listed companies to make large-scale acquisitions of hotel businesses, and funds will continue to be raised from the stock market.
Lin Zuhui looked at Liang Botao and said: "This acquisition of Cathay Real Estate will be financed by a loan provided by Wanguo Baotong. Is there any problem?"
Liang Botao said without hesitation: "No problem, I'll do it!"
The loan provided by Wan Guo Baotong is equivalent to part of Liang Botao's remuneration. Although the debt ratio of the New Era Real Estate Department ranks among the top in Hong Kong, its good reputation and great development potential have caused many bankers to ignore the debt ratio.
What's more, this is just a business, and the mortgage is Cathay Real Estate shares, which has nothing to do with the New Era Real Estate Department, does not increase liabilities, and is a special loan. Cathay Real Estate itself has no problem with its operation, with a net asset of 200 million. How could the bank do this?
Worried!
Lin Zuhui continued: "As for Cathay Real Estate's asset reorganization plan, I referred to many cases and summarized a few points: First, use our relationship with the bank to obtain a new loan of 200 million yuan, leaving us with enough capital.
Time to restructure assets.”
If you want to restructure your assets with peace of mind, you also need the consent of the bondholders. There are always some bondholders who are worried that you will lose the company's assets and cannot repay their debts; therefore, you must borrow a sum of money to pay off those debts that are about to expire.
debt.
At that time, Wei Li and Luo Xurui joined forces to acquire Regal Hotel and Bailibao. The key point was that Wei Li used his relationship with HSBC Bank to borrow a huge sum of 760 million in one-time loans to ensure that the assets of the two listed companies were restored.
all.
"Second, sell non-real estate and securities businesses to withdraw some funds."
"Third, quickly purchase new high-quality real estate assets, sell "unprofitable" assets, and buy profitable high-quality assets."
"Fourth, raise funds through rights issues and then purchase high-quality assets."
Listening to Lin Zuhui's command, everyone took notes one after another. Although what the boss said was an outline, it was a 'good medicine' to heal the company.
Before the meeting ended, Lin Zuhui said: "The asset restructuring plan must be put forward quickly, so that we can also win the support of Cathay Pacific's board of directors!"
Everyone happily accepted the order.
At this time, New Era Real Estate has not yet discussed with Cathay Pacific's board of directors. If you want to impress others, you must consider that others want to make money before agreeing to your acquisition.
Of course, this is not a problem for New Era Real Estate. Although Cathay Real Estate has good assets, its profit performance is average; even the major shareholder does not receive dividends every year. He must be eager to join New Era Real Estate and increase the value of his shares.
In addition to these, once New Era Real Estate takes over Cathay Land, fools also know that those investors who are chasing Lin Zuhui will come in one after another, and Cathay Land's stock will immediately increase several times.
This is also the best condition! If the original shareholders want to cash out, they will naturally support the New Era acquisition.
This time, New Era Real Estate does not need to pay a penny (loan) for the acquisition of Cathay Real Estate, so it is still a waste of money. If it succeeds, the reputation of New Era Real Estate will really increase.
Originally, the Hong Kong and Macao development projects in August had already made Lin Zuhui the best leader among investors; in the case of Hong Kong and Macao development, the most mythical thing about Lin Zuhui was the inside story of his negotiations with the Macao government and five banks.
, because it was not made public, the media decisively used their wild ideas.
12 million yuan to cut off 70 million yuan of debt is enough to make people boast; many media still think it is not a big deal and write about the grievances between Lin Zuhui and King D.
In fact, there is no conflict between Lin Zuhui and King D. The reason is very simple. Lin Zuhui did not 'calculate' others in the whole incident;
The warrants must be issued, otherwise Hong Kong and Macau Development will use the money to cut off debts.
Regarding these, King D also understands very well.
.......
In Lukfook Jewelry's office, Lin Zuhui brought people from the bank to look through the company's books. It was not that he didn't trust Huang Weichang, but that he needed a loan.
Although Lukfook Jewelry had a start-up capital of 15 million (actually 13.5 million, and another 1.5 million in assets), because Lin Zuhui liked to start from the 'big', when preparing for the 'Central Flagship Store', he found that the funds were only so-so.
, and does not have the ability to open another 'Kowloon flagship store' in Tsim Sha Tsui immediately.
Because we planned a chain of big brands from the beginning, the investment in forging factories, headquarters, etc. was also very expensive. In addition, the rent of the flagship store in Central is more than 2 million a year, and the gold jewelry store is also worth it.
It's like seven to eight million, so it's very expensive.
"Lin Sheng, Huang Sheng, and Miss Wang, we have completed the review. There should be no problem with the 10 million loan. After all, Lin Sheng is your guarantee!" the person in charge of the bank said respectfully.
In the eyes of bankers, Lin Zuhui is a hot commodity. Even if the debt of New Era Real Estate is so high, banks still come to him and offer loans.
However, Lin Zuhui doesn’t dare to ask for it for the time being!
"Okay, would you like Manager Sun to take a trip?" Lin Zuhui said politely.
He is willing to be friends with bankers, whether they are bank executives or bank minions.
After sending away the people from the bank, Lin Zuhui happened to attend the management meeting of Lukfook Jewelry. His status was only that of a director; but the management still knew that Lin Zuhui was the major shareholder.
Huang Weichang is both the chairman and general manager. Although he holds the real power, if he falls out with his boss, everyone knows what the consequences will be. Everyone only knows that Huang Weichang only has 10% of the shares, and they do not know that he also has 20% of the incentive equity (given in batches)
).
Because Lin Zuhui had very little time to participate in Lukfook Jewelry matters, he rarely even gave any advice. After all, he was not omnipotent and did not want to do anything in front of Huang Weichang, an old businessman and a jewelry tycoon in his previous life.
There are currently four giants in the jewelry industry in Xiangjiang: Chow Tai Fook, Chow Sang Sang, Tse Ruilin, King Fook (Yang Zhiyun family), the rising star and the previous owner of No. 75 Deep Water Bay - Chen Shengze of Henghe Jewelry, and the rest are probably close to 3,000
There are more gold shops than rice shops.
At the meeting, Huang Weichang endorsed the company's situation to Lin Zuhui, without any pretense of being the chairman, and he was very respectful.
After hearing this, Lin Zuhui also respected professional managers, so he said: "Well, as a shareholder, I am very satisfied with the company's development. If you have enough confidence to guarantee another 30 million loan, I will have no problem."
Huang Weichang said quickly: "There are no further plans for the time being. We plan to digest the Central flagship store first. In addition to a small part of the 10 million loan being used for the Central flagship store and the forging factory, it will be reserved for the preparation of the Kowloon flagship store. If it develops
If everything goes well, in half a year, the company will be able to prepare for the third store. By then, there will be no need to worry about the boss’s guarantee, and the company will already have the ability to be self-reliant.”
"Okay, as long as you have confidence!"
Lin Zuhui happily expressed his appreciation and trust in Huang Weichang!
In fact, even if Lin Zuhui had some opinions, he put them forward to Lukfook Jewelry through Wang Zuxian. In this way, Huang Weichang could make professional decisions, good or bad.
Moreover, Wang Zuxian told Lin Zuhui that Huang Weichang respected her suggestions in the company and did not treat her as a flower vase.
If a director, partner, and spokesperson were treated as a vase by Huang Wei, Lin Zuhui would probably fire him directly, no matter how capable he was. Wang Zuxian was his spokesperson and must participate in the company's affairs!