In the conference room.
The atmosphere was heavy.
Li Dong and Huang Guangyu started quarreling after a few words, which surprised many people.
Of course, the ordinary shareholders were the ones who were surprised.
In their eyes, the big shots were all carefree and easygoing, and they would turn into ashes as they chatted and laughed.
Or, like on TV, they could kill the other party with their eyes without batting an eyelid.
But the reality was that at this point, tycoons were also human. Who didn't have emotions?
Old Huang did it to protect Gome's territory, while Li Dong invested tens of billions to seize control of Gome. Although they did not officially fall out, there was not much difference between them.
At this time, it would be underestimating human nature to still be calm.
Tens of billions of capital flows, or the rise and fall of the company for the next 20 years. Who could be indifferent?
Li Dong's words were full of disdain for the Gome brand. Huang Guangyu looked at him coldly. After a while, he said, "Why didn't I inject the brand into the listed segment?
Okay, I'll answer you now. Because Gome was listed through a backdoor, there was no chance for it in the early stage!
And why didn't I continue to inject it later? That's because Gome was not fully listed!
If the brand is left in the unlisted segment, I can give it to the listed segment for free to fight for the greatest benefit for the shareholders.
Once the brand is left in the listed segment, it will cause a lot of trouble if it is authorized to the non-listed stores.
That's one of the reasons. Secondly, it's because Gome is the brand that I, Huang Guangyu, created! "
Old Huang's words were loud and clear. Did you understand?
Why didn't I inject it?
Because it's the brand that I created. It's a brand that will follow me for life, not all the shareholders!
Those who could understand this could naturally understand, but Huang Guangyu did not care about those who could not understand.
Could Li Dong understand?
There was no doubt that he knew in his heart, but he refused to admit it. Who could do anything to him?
Huang Guangyu did not want to continue arguing with him. The more they argued, the more likely it was that the effect of the unlisted stores and brand would be weakened.
As for Li Dong, he had already achieved his goal by saying those few words.
Hearing what Old Huang said, Li Dong leaned back and said with a smile, "Since Chief Huang said so, then I have nothing else to say. In other words, what Mr. Huang is trying to say is that Gome wants to acquire Yiwei Development Co., Ltd. Is that what he means? "
At this time, the ordinary shareholders started to wonder again.
What about Yiwei's development?
Of course, not everyone knew about it. Someone in the audience explained in a low voice, "Yiwei Development is the parent company of the Gome brand and the 358 unlisted stores."
Everyone understood. Many people felt that these big companies were really complicated.
The Gome Group had countless companies, big and small. Just the listing part alone was extremely complicated.
Now, another company has popped up in the unlisted sector. How idle!
Li Dong and Huang Guangyu did not pay much attention to these people's discussions. With 358 stores and the Gome brand, it was normal for them to set up a new company.
The two of them paid no attention to the discussions. Huang Guangyu calmed down and slowly said, "That's right. Taking advantage of the company's suspension to complete the asset restructuring will save us a lot of trouble and effort. Furthermore, I've already said that we need good news to make up for the negative impact. "
Li Dong said faintly, "Those negative influences weren't caused by me. In fact, my existence has already unknowingly helped some people recover from the negative influences they caused. At this time, Chief Huang's insistence on acquiring Yiwei isn't pure. Naturally, I can understand Chief Huang's decision. But there are some things that everyone can see. Even if we don't acquire Yiwei now, I don't think there's any difference as long as Chief Huang is willing to continue to be the custodian. If Chief Huang insists, then let's talk about the conditions. If the conditions are suitable, then we, the shareholders, will not watch as Gome splits. "
Huang Guangyu calmly said, "General Manager Li, there's no point in arguing with us. Whether you want to acquire Yiwei or not, I think you should have made up your mind. At this point, let's not beat around the bush. Gome will fully acquire Yiwei, including the stores, brand, and supply chain channels … for a total price of 10 billion HKD. "
Li Dong picked his ears and looked at the other shareholders. After a long while, he couldn't help laughing, "It's broad daylight, and Chief Huang is still sleeping. I don't know if he's still sleeping or he just came out, so he's confused! "
Many people's faces changed when they heard this.
"Li Dong, this is Gome, not Far away!" Du Juan, who had been silent all this while, angrily said, "This is Gome, not Far away! At this point, is making personal attacks something you should do? "
"How am I making personal attacks?" Li Dong sneered. "Am I not telling the truth?"
Turning his head to look at the person in charge of JP Morgan Chase, Li Dong lightly said, "Mr. David, tell me, am I telling the truth?
If Chief Huang is not confused, then he's not very smart!
10 billion HKD?
It's just 358 stores and a Gome brand, and Chief Huang dares to offer a sky-high price of 10 billion HKD!
Does he really think that the shareholders are idiots?
Yiwei occupies more than one-third of the stores in Gome, but its sales are less than 25% of the total sales!
This year is almost over, and Gome's sales only reached 80 billion HKD!
As for Yiwei, its sales only reached 20 billion HKD.
Moreover, the gross profit margin has dropped a lot, and the net profit is also terrible. Can it reach 300 million HKD this year?
I'm afraid it's impossible.
Such a company dares to offer a sky-high price of 10 billion HKD, isn't it stupid?
Do you really think that our shareholders' money comes from nothing?
Or do you think that you can cover the sky with one hand in Gome?
I've invested so much money into Gome not to play tricks with you. You want to trade your left hand for your right hand? Dream on! "
Li Dong scolded and straightened his back. He looked at everyone and said, "Do you think this proposal can be passed?
No one's money grows on trees. Although all of you do not own a lot of shares, the acquisition of Yiwei cost 10 billion HKD, and it will be a loss to all of you!
Chief Huang has a good idea!
If Gome acquires Yiwei, we will split the extra cost equally. He is the major shareholder, and he can get a portion!
And Yiwei is wholly owned by him, and the profits will fall into his pocket!
If there's such a good thing in the world, look for me, Li Dong. I promise I am not as greedy as Chief Huang!
According to him, Gome's listed stores alone are worth at least 30 billion HKD. Including Peng Run and the rest, the total value is at least 50 billion HKD!
Fine. If Chief Huang thinks so, I am willing to sell my 30% shares.
Just give me 15 billion HKD. I am not a greedy person.
If Chief Huang is willing to buy back the shares, we will sign the contract immediately. As for whether Chief Huang acquires Yiwei for 10 billion HKD or 100 billion HKD, it has nothing to do with me!
Anyway, it is not my money that is being spent! "
Li Dong's words made many people's faces change.
"Mr. Huang, 10 billion HKD is a joke." The representative from JP Morgan also said.
The CRMC representative also shook his head and said, "Most of our shareholders approve of the acquisition of Yiwei. But just like what Mr. Li said, 10 billion HKD is a joke. As shareholders, we cannot agree to such conditions. "
Cheng Xiao glanced at the silent Huang Guangyu and said with a faint smile, "Mr. Huang, I think it's better for us to speak the truth since we've come to this point. 10 billion HKD is equivalent to more than half of a listed company. Even if we agree, the CSRC and Hong Kong Stock Exchange will not agree. As Yiwei's sole shareholder and Gome's major shareholder, others will think there is some insider trading if we hand over the 10 billion HKD proposal. "
This time, the crowd did not give Lao Huang too much face. The price was simply too high, so high that it was a little ridiculous.
Just like what Li Dong said, everyone was a shareholder.
Gome will acquire Yiwei at a high price, and they will share the premium equally.
But Yiwei's money will be in Old Huang's hands.
Of course, everyone knew that the acquisition of Yiwei will not use money. At most, they will use cash, and most of the shares will be issued.
But even if they do not use cash, the shares are also money.
Everyone will share the losses equally, and the Huang Family will gain the profits.
When it comes to profits, Huang Guangyu's reputation is useless.
Of course, 10 billion HKD is only an opening price, and everyone knows this.
Now, Li Dong strongly opposes the proposal, and everyone is trying to suppress it. It is not because of the 10 billion HKD, but for the upcoming negotiations.
If everyone's attitude is not clear, they will not be able to acquire Yiwei even if they have less than 8 billion HKD.
Now, everyone was strongly against it, and no one agreed. In this case, even the acquisition proposal could not be passed.
Other than the Huang Family and some shareholders who support the Huang Family, no one will let their interests be affected.
Huang Guangyu is not surprised that everyone is against it, and he did not dwell on it. "Let's not talk about the 10 billion HKD first. Let me say a few words to General Manager Li.
Manager Li said that Yiwei's sales accounted for less than 25% of the total store's performance. Without investigation, he would not have the right to speak. It was not Manager Li's job to speak without thinking and guide the shareholders.
According to the statistics for the first three quarters, Gome's sales for the past three quarters are 44 billion HKD.
As for Yiwei, its sales for the first three quarters are 18 billion HKD, accounting for more than 29%.
Secondly, Yiwei's net profit had decreased, and everyone knows the reason.
Just the escrow fee alone is 200 million HKD!
In total, Yiwei's annual net profit is close to 500 million HKD, and the escrow fee belongs to Gome.
Simply put, I had increased Gome's annual net profit by 200 million HKD with my sole ownership of Yiwei.
I am the one suffering losses, but everyone is the one benefiting. "
Li Dong interrupted, "General Manager Huang, you are changing the topic. Escrow fee is escrow fee, and since it is escrow, Gome also needs to spend manpower and resources.
Is 200 million HKD a high annual management fee for 300 stores considered high?
If Yiwei manages it, the management fee will only be higher!
Gome also needs to send people to manage it, and the so-called 200 million HKD net profit is not valid.
As for the proportion of revenue, Gome has 702 stores, while Yiwei has 358 stores. The number of stores is less than twice of Yiwei, and according to General Manager Huang, the revenue is 2.45 times of Yiwei's.
Comparatively, the quality of Yiwei's stores, profitability, and revenue are not as good as those that are listed.
As for those that are listed, the stores are only a part of it. Gome includes many things, including some real estate, logistics, and channels …
Generally speaking, everyone can understand that Yiwei's value is less than a fifth of Gome's.
I am not making this up. There are professionals here, and they can calculate, estimate, and weigh. I am not underestimating Yiwei at all.
As for Gome, its total market value is only 20 billion HKD before the suspension.
1/5, 4 billion HKD, is overestimating Yiwei.
Now, General Manager Huang dares to say 10 billion HKD, which is more than double. There is no lack of fat sheep in this world, and shareholders like us are fat sheep … "
Li Dong paused for a while and smiled. "If this is the case, I am afraid the outcome will be out of your expectations."
"4 billion HKD!"
Huang Guangyu's face changed when he heard Li Dong's words.
This fellow really dares to say this!
Huang Guangyu knew he had underestimated Yiwei's value, but he did not expect Li Dong to cut him in half with just a few words!
Huang Guangyu's face turned cold. He stared at Li Dong for a long time before saying, "Then let's not talk about this today. With Director Li here, I don't think there's anything to talk about."
Li Dong smiled and said, "Up to you, CEO Huang. I don't mind. Of course, even if Chief Huang doesn't want to talk, I still have something to discuss with him. We are going to expand into the rural areas, right? The rural areas are a big market, and we cannot miss it. But now, the funds in Gome's account … "
Li Dong looked at everyone and smiled. "I will not talk about some business secrets. In short, we are not expanding enough.
We either give up on expanding in the rural areas, or we need to raise funds.
But after the introduction of the home appliances to the countryside policy, if we do not expand, we will not have this opportunity in the future.
Now, the Group urgently needs funds to expand.
As for loans, don't count on it. Because of General Manager Huang, the banks are not willing to give us loans. It is a pity.
If we give up, we will be irresponsible to our shareholders and Gome.
That's why I suggest injecting funds into the rural areas.
The rural areas are not smaller than the cities. Even if we reduce the rural areas, we need at least 3 billion HKD.
At this time, we do not know when they will issue new shares and resume trading. We do not have the chance to wait. If we wait any longer, we will really die.
You can ask Mr. Zhang of Suning and General Manager Wang of Best Buy. Will they wait for us?
They won't!
That's why it is necessary to inject funds from the existing shareholders or bring in new shareholders. "
As soon as Li Dong finished speaking, Zhang Jindong and the rest looked embarrassed. What are we doing? We are just watching the show.
However, Li Dong's proposal for an investment made many people instantly understand what this guy was planning.
Sun Tao and the rest also knew why Li Dong was in such a hurry to get a loan from China Merchants Bank.
Li Dong was not at ease competing in the secondary market, and he was not at ease using convertible bonds to obtain controlling shares.
He wanted more, so at this time, he proposed to inject more capital.
Once the funds were injected, the Huang family did not have much funds at the moment. The money they had previously was probably all spent. After all, they had bought back a lot of shares recently.
Li Dong said that he would inject 3 billion yuan into the company. How many shareholders would be willing to invest in it?
If the proposal was approved, as an existing shareholder, Li Dong had the right to inject funds and obtain new shares.
By then, excluding the competition from JP Morgan Chase and the secondary market, Li Dong might be able to exceed the Huang family's shareholding ratio.
Also, Li Dong's proposal was very likely to be approved.
After all, it was a fact that Gome did not have any cash flow. The minor shareholders might not know, but the rest knew.
Putting aside the Huang family, the injection of funds was also good news for the minor shareholders.
3 billion yuan of cash flow would be beneficial to Gome's future development.
No company would complain about having too much cash flow.
As expected, Huang Guangyu's face changed when he heard this.
He had thought that Li Dong would propose the bond conversion at this time. He knew that Li Dong had bought a lot of bonds.
He had also thought that Li Dong might have a tacit understanding with the other institutions, and some of the remaining major shareholders had already sided with him.
But no matter what, the Huang family still had the advantage at this time.
Once Yi Wei was injected, the Huang family's advantage would be magnified.
But Li Dong did not mention this and wanted to inject funds straight away. This was Li Dong's Achilles heel.
Money was always a source of confidence.
The Huang family really did not have any money now.
If the injection of funds was approved, Li Dong would have the advantage, and Huang Guangyu could not refute.
That was because the injection of funds was a good thing. At least, it was a good thing for Gome now, because they lacked money.
You do not lack money, and the injection will dilute everyone's shares, and no one will agree.
But when you lack money, you can dilute everyone's shares, and everyone will be happy. It was better than being in a difficult situation because of money.
Li Dong saw everyone kept quiet and said. "I forgot to mention that I am talking about RMB, not HKD.
Based on the current exchange rate, 3 billion RMB is around HKD 3.5 billion.
Before the suspension, Gome's share price was around HKD 1.1.
Even if there is no discount and a premium, it should not be a problem to issue 3 billion new shares.
I think it is worth it to use 3 billion new shares in exchange for 3 billion RMB in exchange for the opening of the rural market and the revival of Gome.
Of course, this still depends on everyone's opinion.
Since I have proposed it today, I will exercise my rights as a shareholder. Let's vote on it.
According to the regulations, the proposal to increase capital will be voted on at the shareholders' meeting, and if more than half of the votes are cast, it will be approved.
Regardless of whether Mr. Huang continues with Yiwei, the group is indeed short of money. Even if we continue to acquire Yiwei, we still need money, right? So, it is absolutely necessary to increase the capital. "
Huang Guangyu finally spoke after Li Dong finished his words. "Don't you think General Manager Li is too anxious? Also, this matter has not been proposed by the board of directors. If you say it now, doesn't General Manager Li know that this will cause a negative impact on the outside world? Whether the group has enough funds to expand, and whether there is a way to meet the needs of the rural market, all these will need to be calculated and budgeted. It is not something that General Manager Li can decide! "
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