In the conference room.
The atmosphere was a little tense.
Qin Hai took the lead to express his stance and immediately made the conflict public.
The others did not say anything. At this time, they did not know who to side with.
Shen Qian's opinion was not out yet. Whether she agreed or not, they would at least wait until she finished speaking.
Yuan Chengdao glanced around and said after a while, "President Shen, tell me your opinion first."
Shen Qian took a deep look at Qin Hai. She paused for a moment before continuing, "My opinion is very simple. First, the external suppliers should be refunded and comforted.
There is no need to delay. The more we delay, the more people will doubt our ability.
Second, let the legal department send someone to communicate with Secretary Wu. No matter what, the sooner General Manager Li comes out, the better.
Also, on Qi Guanghe's side, if possible, try to keep it private. As for Hu Wanlin's side, think of a way to stop her from talking nonsense.
Third, think of a way for the bank. Even if we can't get the loan, we should not have a situation where the bank is pressing us for debt.
Once the bank questions our ability to repay, we will not be able to repay tens of billions of debt.
Whether we can get the loan or not is another matter, but we must ensure that there will not be a credit downgrade.
Fourth, just in case, we must maintain sufficient capital on our books.
Financing and listing are not suitable now. The best way is to bring in partners or directly sell some of the assets.
I have told President Yuan before that the business Far away is too messy now.
It has seriously slowed down our development and caused a shortage of funds many times.
Therefore, I am more inclined to sell some of the assets with low added value and serious stagnant funds.
Use these assets with low conversion rates and huge investments to exchange for other high-quality assets. "
Sun Tao waited for her to finish and said with a slight frown, "We will definitely do the first three, President Shen doesn't need to say this. But is the fourth, selling the assets really appropriate? Far away's every plant and tree was personally decided by General Manager Li before. Any assets are all General Manager Li's blood and sweat. It is not the time yet. I am afraid it is not appropriate to sell the assets in a hurry. This is only the second day, I think we can wait. "
"Wait?"
Shen Qian raised her eyebrows and said, "Wait until when? The longer we wait, the more trouble we will be in. Don't you see how many people are blocking outside? Far away? This was just the beginning. Following this, the trust crisis would become more and more serious and could erupt on a large scale at any time. Let me ask all of you, if the crisis breaks out on a large scale and General Manager Li doesn't appear, do you have a way to solve the problem when the payment is due? "
Everyone was speechless. They really couldn't do anything about this.
So far away, there was money on the books, but once the next payment arrived, the money would be gone very quickly.
Even if there was a little left, it would have been divided up by the suppliers who broke the contract.
If the trust crisis had not been resolved, then not only the payment for the previous period, but also the payment for the current period would have to be settled. The funding gap would be as high as 10 billion yuan.
So much money, how was he going to settle it?
Logistics, real estate, Far away Technology, these few companies were all consuming money. Even if they were profitable, they could only maintain their own development.
On the supermarket's side, if the entire supply chain was broken, then the only profitable supermarket would be in trouble.
Chen Lang pondered for a moment before saying, "Mr. Shen, the probability of this happening isn't high. I feel that as long as we handle this properly in the next few days and disclose the financial information, everyone's doubts will dissipate. After all, other than us, no one knows how much So far away owes. With 20 billion yuan here, it will be enough to dispel everyone's worries. "
Shen Qian shook her head and disagreed. "It's still a gamble. You guys always like to gamble. Gambling on probability is what General Manager Li should do. Our mission is to find out the loopholes and make up for it. Stability is our priority. What we need to do is under any circumstances, So far away can suffer losses, but there won't be a crisis of collapse. "
Wang Yue, who hadn't spoken before, said softly, "Mr. Shen, then what you mean is that So far away must sell some of its assets now to raise funds and ensure that there won't be any accidents in the other assets?"
"Yes."
"Then I would like to ask, Mr. Shen, in your opinion, which assets So far away has no need to exist?
Logistics? Supermarkets? Far away Technology? Or Dong Yu Real Estate?
Supermarkets are the foundation of So far away. General Manager Li has said this many times. Moreover, Mr. Shen said that the supply system will develop smoothly, so supermarkets should be ruled out.
Now, the recovery speed is slow, and there are two main assets that are seriously underfunded.
First, logistics.
Second, Dong Yu Real Estate.
And in the short term, if you want to sell it, I'm afraid that logistics is not suitable. Because there aren't many companies in the logistics industry that can take over So far away's logistics.
In other words, Mr. Shen, you mean to sell Dong Yu Real Estate's assets, right? "
Shen Qian frowned and said after a while, "Yes, that's what I mean.
Now, Dong Yu Real Estate has no other projects other than the Capital CBD project.
We have more than 30 pieces of land in our hands. To be precise, it's 32 pieces.
Based on value, even with the current market price, it's worth about 50 billion.
However, except for a few pieces of land, most of them don't belong to us completely.
Among them, there are many pieces of land that are worth 50 billion with only a deposit or down payment. Just this piece of land alone is worth as much as 30 billion!
If we sell Dong Yu now, we can not only reduce our debt by 30 billion, but we can also raise close to 20 billion for working capital.
Also, the most important point is that after we remove the 30 billion in debt, our debt ratio will be lower than the absolute safety line.
When that time comes, it will be much easier to get loans or raise money from other sources.
Dong Yu's existence in these few years has not brought us any complementary benefits.
Even the Far away City project that was praised to the heavens is, in fact, an illusion.
We haven't even built a single Yuanfang City in the truest sense of the word. Do you really think that the Yuanfang City project can bring us complementary benefits?
Is it really worth it to build 10 Far away cities with a budget as high as 50 billion?
With this 50 billion, how much can we do?
Even if it's really built, how many years will it take to recover the investment? Now that the market situation is unclear, it's obviously unwise to invest in a large scale at this time.
So, in my opinion, selling Dong Yu is not a bad idea. "
Everyone was whispering, and many of them looked at Wu Shengnan.
Wu Shengnan frowned, but she did not say anything.
Shen Qian glanced at her and said, "Other than Dong Yu, there are actually other properties that can also be sold. The shares of Sichuan Airlines, the PP business, East Star Entertainment, and even Weibo, are not impossible. Of course, the scale of these properties is not small, and it will be difficult to find someone to take over in a short time. Dong Yu is different. Real estate projects, at any time, there will be people willing to take over, it's nothing more than the price. So, at this time, Dong Yu is the best choice. "
Liu Qi, who usually did not speak at the board meeting, hesitated for a while and took the initiative to speak for the first time. "CEO Shen, is this General Manager Li's idea, or your personal opinion?"
"Personal opinion."
Liu Qi nodded slightly and did not ask further. Knowing this was enough.
If it was just Shen Qian's personal opinion, it did not matter. What she needed was to follow in Li Dong's footsteps.
She just listened to what Shen Qian said and did not care about anything else. She would let others refute it.
Similarly, Zhou Haidong did not say anything.
He and Liu Qi were Li Dong's confidants. At the board meeting, the two of them always acted according to Li Dong's eyes.
As long as it had nothing to do with their duties, they only needed to listen to what others said.
The director who represented the employees was even more oblivious to the outside world. He lowered his head and wrote and drew. No one knew what he was thinking.
The remaining few directors, Yuan Chengdao, Sun Tao, Chen Lang, Wang Yue, Wu Shengnan, Qin Hai, Liu Hong, and Shen Qian, made up a total of eight people. Their opinions were the most important.
Shen Qian looked at the others, especially when she looked at Yuan Chengdao. Her eyes were filled with inquiry, hoping that Yuan Chengdao could express his opinion.
Yuan Chengdao coughed lightly and thought for a while. "CEO Shen, the sale of Dong Yu Real Estate is not a small matter. We will consider your suggestion, but I think it's better to wait for General Manager Li to come back before making a final decision. Even if General Manager Li really can't make an appearance for the time being, I believe that we can still meet with General Manager Li in the next few days. Even if it's urgent, it's not in a day or two. Don't you think so? "
Shen Qian frowned and said, "A day or two? Things are changing quickly now. Maybe in the next moment, there will be a big crisis. I don't think it's necessary to wait for a day or two. When General Manager Li left, he seemed to have said that the board of directors can make decisions. If all problems are left to General Manager Li to solve, then what's the point of the board of directors' existence? "
"CEO Shen is being a little alarmist. In a day or two …"
As Wang Yue spoke, Bai Su knocked heavily on the door.
Everyone frowned. Yuan Chengdao nodded at the transparent glass door, and Bai Su pushed the door and entered.
Once she entered, Bai Su was a little flustered and said, "CEO Yuan, CEO Sun … Just now, four major manufacturers called us, hoping that we can settle the monthly payment for the promotion in advance. In addition, there are two major food suppliers in Shanghai. After their contracts expired, they did not renew their contracts with us. Just now, there was news from Shanghai that they had signed a contract with Bailian. I'm afraid their cooperation with us will be terminated. "
Yuan Chengdao took a deep look at Shen Qian and said after a while, "CEO Shen, is this the crisis you mentioned?"
Shen Qian frowned and said, "What do you mean, CEO Yuan? I'm just explaining the possible crisis to everyone in advance.
Now that this situation happened, isn't it just like what I said?
Big manufacturers are not necessarily reliable, and we are not the only distributor.
Bailian, Huarun, Suning, Gome, these companies are not blind. Since they saw the opportunity, it's also expected that they will act.
This is just the beginning, and the longer it drags on, the bigger the crisis will be.
Bai Su, how much is the payment for those who broke their contracts? "
"More than 900 million. Nearly 1 billion." Bai Su quickly replied.
Shen Qian sighed, "You guys have also seen it. It's just a few of them, and it's already 1 billion. Is our 20 billion really enough? Time waits for no man, and we'll be in bigger trouble when this payment is due. "
As she spoke, Shen Qian continued, "It's imperative to sell Dong Yu! It just so happens that someone came to talk to me a few days ago. They can take over Dong Yu Real Estate as soon as possible. Furthermore, the other party has ample funds, and the money will be transferred soon. "
When her voice fell, Qin Hai angrily said, "Shen Qian, do you think everyone is a fool?
How can there be such a coincidence?
You want to sell Dong Yu Real Estate, and it just so happens that General Manager Li isn't here, and the manufacturer has breached the contract. Don't tell me that you didn't plan this beforehand!
I reject your suggestion!
After the meeting, I'll go to the provincial office. I don't believe that the provincial office can't even accommodate me!
What are you trying to do?
Do you want to take advantage of General Manager Li's absence to divide up the assets Far away? "
Shen Qian said coldly, "CEO Qin, don't use your narrow-minded eyes to guess everyone! I have a clear conscience for everything I've done! Divide up the assets Far away? What a joke! When Li Dong transferred 20% of the company's shares to me, I rejected it. Do you think I'll cooperate with outsiders to take over the company's assets just for Dong Yu? "
"That was then, and this is now! Shen Qian, if you didn't have this motive, you wouldn't have appeared at the meeting today. Also, tell me, which company has ample funds to take over Dong Yu? Also, can you guarantee that this company has nothing to do with you? If you don't want others to know, don't do it! In short, I reject it. Also, if anyone agrees with Shen Qian's suggestion, I suspect that you're in cahoots with Shen Qian! "
"CEO Qin, be careful with your words!"
Seeing Qin Hai's anger, Yuan Chengdao couldn't help but remind him.
This was not the time for internal strife.
Also, Qin Hai's words just now were threatening everyone.
Whoever agreed with Shen Qian's suggestion would be blacklisted. This was not a good tactic.
There were so many people on the board, and everyone had their own considerations and their own considerations.
Although Shen Qian did seem to have ulterior motives, selling Dong Yu wasn't a bad choice.
Not to mention others, even Yuan Chengdao had his own ideas.
But now, Qin Hai's words made it seem as if anyone who had such ideas was a traitor.
Everyone could express their own opinions, but there was no need for personal attacks.
Sun Tao also stepped forward to ease the atmosphere. "Boss Qin, please calm down. I think we should listen to Boss Wu and Boss Yuan's opinions on this matter first."
Everyone looked at the two of them. Yuan Chengdao thought for a moment and said, "Selling Dong Yu Real Estate is a serious matter. Dong Yu Real Estate has many industries. Not just these plots of land, but also Far away Tower, Greenfield Real Estate, Far away Plaza … and many other industries. Also, we just launched the Far away City plan … "
Yuan Chengdao said a lot, but everyone could tell that he was trying to smooth things over.
Qin Hai frowned. After a while, Wang Yue coughed softly. "We understand CEO Yuan's meaning. CEO Wu, what do you think?"
Wu Shengnan's mind was elsewhere.
Only when her name was called did Wu Shengnan come back to her senses and looked at Shen Qian.
Wu Shengnan thought for a moment and said, "I don't really agree with selling Dong Yu."
Some people were silent, some frowned, but Shen Qian did not say anything.
Wu Shengnan paused and said, "Of course, CEO Shen's words are not without reason.
The existence of Dong Yu, how should I say it now, is indeed a drag on the development of the group.
What I mean is that there is no need to sell Dong Yu as a whole. Even if we split it up, we can still sell some of the industries.
But the 23 vacant plots of land are not suitable.
General Manager Li has other uses for these 23 plots of land. It is not suitable to sell them for the time being.
In my opinion, the Far away City project can be split up and part of the ownership can be sold to raise funds. "
"Far away City project?"
Yuan Chengdao frowned. "This project is currently an empty shell. There are only 10 plots of land here. Is there any difference between this and selling other vacant plots of land?"
"Yes, of course."
Wu Shengnan smiled. "We are not selling the land, but the project. These are two different concepts. The Far away City project is planned to invest 50 billion yuan. I mean to sell it with 50 billion yuan as the main investment. "
"Ahem …"
Everyone could not help but cough softly. Was there such a fool?
You only have 10 plots of land here, with a total value of less than 25 billion yuan, but you are selling it with 50 billion yuan as the main investment.
If there really was such a fool, just find a few more.
Wu Shengnan saw that everyone did not think much of it and smiled again. "In fact, this is not impossible. There is actually a model for real estate projects that is very suitable for this situation.
For example, the Far away City project, if the final completion is calculated according to the investment of 50 billion yuan, it will take two years.
At this time, we will sell 40% of the ownership, which means that the other party will pay 20 billion yuan.
Take out 20 billion yuan, and the other party will no longer need to care about everything.
Two years later, the interests will be distributed according to the market, or bought back with a fixed rate of return.
In other words, if the real estate market is still not good after two years.
We can carry out the overall buyback plan according to the lowest rate of return.
According to the annual profit rate of 10%, two years later, if the market is not doing well and does not meet expectations, we will need to buy back the project for a total price of 60 billion yuan.
At the very least, the other party can get back the 24 billion yuan of investment. It can be said that it is a business that will not lose money.
Many companies are actually willing to accept this method.
For us, this is also good.
Since we have invested in Far away City, we hope that the market will be good. The better the market, the more we will profit.
If the market is not good, then it is also our investment failure. The profit rate given by the buyback is only 10%. In fact, it is not much different from a bank loan.
However, with the entry of foreign capital, it is equivalent to having additional funds for development, and we do not need to use the bank loan quota.
When necessary, we can use this capital to get a large loan from the bank, which will expand our source of funds. "
Everyone frowned and pondered. It was not impossible for Wu Shengnan to say so.
A 10% profit rate was not too high. Of course, it was not low either.
If they really bought back the project according to the profit rate, Far away would not lose money.
But would the other party agree?
If they did not mention the other party, would Li Dong agree?
Of course, if they really used this model, Yuan Chengdao and the others felt that the other party should not have a big problem. After all, it was a guaranteed profit, and there would be at least a 10% profit guarantee. This kind of business was not easy to find.
The key was what Li Dong thought.
Moreover, was 10% too high? With this kind of guaranteed buyback plan, giving such a profit rate, all the risk would be transferred to Far away.
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