An hour later.
In the conference room.
As the first conference in 2007, the first thing to report was naturally the results.
Liu Hongmei had prepared a thick stack of documents in front of her. At the beginning of the conference, Li Dong said, "Director Liu, please report to everyone the results of 2006."
Liu Hongmei nodded, stood up and said, "While reporting the results of 2006, I will first tell everyone about the situation Far Away at the end of 2005."
"As of December 31, 2005, Far Away had a total of 70 stores, as well as a piece of land for the Far Away Building and a piece of land for the distribution center. Apart from these, Far Away had almost no liquid funds at that time, and it had debts as high as 300 million. "
Liu Hongmei paused for a moment. The old employees were naturally aware of this situation.
However, although Yuan Chengdao, Wu Shengnan, and the other new senior executives who joined this year, had some understanding before, they did not understand it so clearly.
When Liu Hongmei said this, many people had a look of surprise in their eyes.
At this time last year, Far Away actually had only 70 stores and two small pieces of land?
Without waiting for them to digest this news, Liu Hongmei continued, "At that time, the outside world valued Far Away at about one billion. In fact, excluding the Baidu shares in the hands of General Manager Li, Far Away's market value was only about 500 to 600 million."
"500 to 600 million!"
This time, many new directors were shocked, especially the general manager of Ke Long, who had a face full of emotion.
Didn't this mean that at this time last year, Far Away might not be as large as Ke Long?
But in just a year, what was Far Away now? It was about to surpass, or rather, had already surpassed, Longhua Group as the number one private enterprise in Jiangbei.
It had only been a year. The gap was too big.
Emotion, shock, and disbelief. These expressions should not appear on the faces of the senior executives of Far Away. However, everyone was really surprised and not pretending.
Even many old employees of Far Away felt a little incredulous, let alone the new employees who had just joined.
After talking about the situation in 2005, Liu Hongmei then began to talk about 2006.
"As of yesterday, which is December 31, 2006, So far away, we have four subsidiaries and five provincial branches.
Among them, five of the provincial branches were all branches of Faraway Supermarket, namely Far away · Times Branch, Far away · Kelong Branch, Far away · Zhejiang Branch, Far away · Gan Branch, and Far away · Lu Branch.
…
So far this year, the sales volume was close to 20 billion!
Among them, Faraway Supermarket had a turnover of more than 12 billion, Dongyu Real Estate had a turnover of five to six billion, and Far Away Mall had a turnover of five to six billion.
Because the logistics company had been under construction, as well as cooperating with the shopping mall services, this year's performance was not much, temporarily not included.
In terms of profits, although the supermarket's turnover was high, due to various reasons and the late stage of the era, there was not much profit. In 2006, the supermarket's total profit was 1.4 billion.
As for Dong Yu Real Estate, there are still some houses that haven't been sold yet. If we deduct the initial expenses, the profit won't be too high … "
Liu Hongmei spoke for a long time and reported a lot of financial data.
Li Dong and the rest listened attentively, and some even took notes.
After about half an hour, Li Dong saw that Liu Hongmei was almost done and said, "Director Liu, make a summary. How much this year's expenses, income, and So far away's current value, and how much debt. Tell us all these so that everyone can have an idea. "
Because So far away was a private company, and the only shareholder was Li Dong, Liu Hongmei would naturally follow Li Dong's instructions.
After Li Dong finished, Liu Hongmei began to make a summary.
"This year's revenue … expenses …
So far, Faraway Supermarket had five branches, including Kelong, Times, and Zhejiang, with a total market value of about 7 billion.
Dongyu Real Estate, excluding Greenland, had a total market value of about 3 billion.
After acquiring Greenland, Greenland and Dongyu merged, resulting in additional effects. If Dongyu Real Estate were to be revalued, it would be around 6 billion.
Logistics, adding 320 new express delivery points this year, and the Zhejiang distribution center, is valued at about 800 million.
Far Away Mall, with more than 10 million registrations, and the opening of the national distribution channel, is estimated to be worth 1 billion. "
Li Dong calculated and said, "That is to say, the total value of Distance's current assets is about 15 billion?"
"About the same. Even if there is some difference, it should not be a big deal. But I did not include some brand values because I do not have a clear estimate yet. "
Li Dong nodded. "Let's not count this first. What about our current debt?"
"Times still owes 700 million for the acquisition and 400 million for the bank loan, totaling 1.1 billion. Faraway Supermarket still owes 800 million. Dongyu Real Estate has the most. You had paid 2 billion for the land, and Longhua's 950 million for the acquisition of the residential area. In addition to the acquisition of Greenland, we still have to bear their 800 million loan and 200 million for the project. Our total debt is about 4 billion. Adding all of these together, our debt has reached a total of six billion. "
"6 billion!"
Many people were shocked. It was not that the debt was too much, but Far Away's value had increased too fast this year!
Far Away had a market value of 15 billion, and the debt was 6 billion. That meant the net assets had reached 9 billion. Compared to last year's 500 to 600 million, it was more than 10 times in a year. This was too exaggerated.
Although everyone was shocked, they were not too surprised.
Although the supermarket's profit this year was only a few billion, the added value was much greater.
After acquiring Times, Kelong, and other supermarkets, Faraway Supermarket's total value had reached 7 billion. Far Away's investment in the supermarket this year was not too big, at most about 4 billion.
Just the supermarket alone had added an additional 3 billion in value in a year.
In addition, the shopping mall and logistics company had increased by at least 1 billion. Together with Shen Qian's 1 billion, these items had a total of 5 billion.
This year's profit was mainly from real estate, including the land Li Dong acquired in New City, the development of the two residential areas, and the acquisition of Greenland. All of these had made a lot of money.
Adding all these together, it was not surprising that Far Away's net assets reached 9 billion.
"9 billion …"
Li Dong muttered. Excluding Shen Qian's 1 billion, Far Away's actual net assets were only about 8 billion.
This did not seem to be too high, right?
Compared to those large conglomerates that were worth hundreds of billions, Far Away still had a long way to go.
However, if one were to really calculate, Li Dong's personal assets could almost exceed 10 billion.
After all, he still had a few billion in the stock market, as well as the Baidu shares that he had mortgaged to Shen Qian's mother.
Although Sun Tao had some shares in the supermarket, after Li Dong's capital increase, Sun Tao would not get dividends for the next few years. Also, the shares were not much, almost negligible.
A billionaire, Li Dong finally lived up to his name.
After a while, Li Dong asked again, "After acquiring Greenland, I had used up almost all the liquidity Far Away has. Director Liu, can you calculate for me how much money I need to take out in the next three months to fill this hole? "
Liu Hongmei had already expected Li Dong to spend all his money as soon as he had it.
Liu Hongmei said, "In the next three months, we need to pay all the loans and land payments from Dong Yu Real Estate. That means we need to pay off the 4 billion. As for the rest, the supermarket's loans are not much, and the supermarket's profits are enough to support it. Also, the supermarket's profits can meet the development plans of the three provinces, and General Manager Li had transferred 500 million from the supermarket. Another thing is the shopping mall. The shopping mall is already partially profitable, and if we do not carry out a large-scale expansion, we can still be self-sufficient. Logistics needs to meet the shopping mall's needs, so we need to invest in it. But for the next three months, the remaining funds should be enough. "
"So, the gap is the 4 billion from Dong Yu Real Estate?"
"Yes."
"Why does it sound so weird to me?" Li Dong was speechless. "I didn't realize it before. Now, if I pay off the money, doesn't that mean Dong Yu Real Estate has no debt?"
"Yes."
"Is there a real estate company like ours in the country?"
Wu Shengnan smiled bitterly. "General Manager Li, our company is a little different. We can't do anything about Greenland because of Longhua's interference. As for Dong Yu, we have to pre-sell the houses before they are built. Plus, we don't have a lot of land, and we only have a few residential areas for sale. You have to comply with the rules, so you have to take out the money. But in this way, Dong Yu Real Estate will become the most stable real estate company in the country. "
"A real estate company that doesn't owe a penny, of course it is stable!"
Li Dong complained and then said, "4 billion is not a small amount. Does anyone have any ideas? How do we get this money? "
Before others spoke, Wu Shengnan said, "General Manager Li, didn't you say that in the next few months, there will be a sum of 3 billion funds coming into the company?"
The others hadn't received the news before. When Wu Shengnan mentioned it, many people whispered.
3 billion wasn't a small amount. The company will have 3 billion funds coming into the company soon?
Li Dong rolled his eyes. This woman actually took it seriously!
The 3 billion he mentioned was referring to the money he invested in the stock market. However, no one knew when the money would reach 3 billion.
Even Li Dong himself couldn't guarantee it. The latest would be September.
Even if the money came by then, it wouldn't solve the urgent need.
He just wanted to deter others. However, since Wu Shengnan mentioned it, Li Dong had to say, "The money should be in the account in June or July. So, don't count on it for the time being."
"June or July?"
Everyone was a little disappointed, but soon someone asked, "General Manager Li, can I ask if someone is financing Far away?"
"More or less. Anyway, you will know after a while. Don't worry about this first. I will talk about it later. But before that, continue to think about my problem. What about the 4 billion funding gap? "
"Get a loan."
Sun Tao, who had been silent all this while, said, "Our debt is actually not that high. Especially after paying off the 4 billion yuan, our debt is less than 2 billion yuan. Distance's market value has already reached 15 billion yuan, so we can definitely get another loan. I don't dare to say more, but 1 billion is still easy. It won't be too much pressure for us. "
After Sun Tao finished, Wu Shengnan also said, "In addition to the loan, we still have a lot of houses in Dongyu. Now that the reshuffle in the real estate industry has almost stabilized, the housing market will definitely recover. According to our estimates, the housing market can stabilize in at most one or two months. At that time, we can continue to pre-sell. If the remaining houses in Dongyu Real Estate can be sold, we can still raise about 1.5 billion. In addition, there is also a residential area in Greenland, and Greenland owns part of our original house. It is still worth 500 to 600 million. It won't be a problem for Dongyu to raise 2 billion. "
"Three months. Are you sure?"
Wu Shengnan hesitated at first, but she quickly nodded and said, "If we earn less, there is still hope in three months."
Li Dong was speechless. "Don't say hope. I am afraid to hear such an uncertain answer. If the money can't be raised in three months, I will pin my hope on this. Aren't you tricking me? "
"I promise!" Wu Shengnan said with a solemn expression.
"I will believe you this time. That means that you will bear half of it yourself. CEO Sun said that you can get a loan. Then let's give it a try. If we get a loan of 1 billion, it will be 3 billion."
Li Dong calculated and said with some relief, "Then the funding gap will be 1 billion. I will think of a way myself."
Compared to 4 billion, 1 billion was much easier.
Not to mention that Shen Qian was preparing to issue corporate bonds. Even if it couldn't be issued in three months, he could still cash out 1 billion in the stock market.
However, he couldn't completely relax. Although Wu Shengnan promised, who knew if there would be an unexpected situation.
Once Wu Shengnan's house couldn't be sold, there would be a big gap. He still had to prepare a backup plan.
After discussing the money, everyone reported the current situation of the company.
Wang Yue, Yuan Chengdao, and a few others also reported the current market development situation. At present, it seemed that the progress in Jiangzhe was the fastest.
At present, Wang Yue had reached an agreement with the government and had already bought some stores suitable for Far away. According to Wang Yue's estimation, in April or May, there should be some Faraway Supermarket stores in Jiangzhe.
Next was Lu Province, which Yuan Chengdao was in charge of. The situation here was also good. The entire plan could be finalized before the beginning of the year.
When next spring, the branch plan could be launched. In June, there should be Far away stores in Lu Province.
The only thing that disappointed Li Dong was the Gan Province side. Although Ke Long had sent three groups of people there, the progress was still much slower.
The person in charge of this matter was the new general manager of Ke Long Supermarket, Wu Bo. After being called by Li Dong, Wu Bo, who attended the high-level meeting for the first time, was a little nervous. He trembled and said, "General Manager Li, it is mainly because the market environment in Gan Province is not very good, especially our competitors are boycotting us. Led by Hongkelong in Gan Province, Hongkelong has been in Gan Province for many years and occupies about 50% of the market in Gan Province. We entered Gan Province Far away, and they have sabotaged us in many ways, so the progress is much slower. "
"Hongkelong?"
Hearing this supermarket, Li Dong's eyes narrowed. If he remembered correctly, this supermarket should be acquired by Huarun a few years later.
Huarun chose to acquire it, on one hand, because the other party was worth it.
But on the other hand, it could also be seen that Huarun must have failed to enter the Gan Province market. Otherwise, they wouldn't have chosen to acquire Hongkelong in 2011.
It seemed that Hongkelong had some ability, or else they wouldn't have been able to resist other retail companies from entering Gan Province's market.
Seeing that Wu Bo was being cautious, Li Dong didn't blame him and just said, "Then slow down. It's fine if the progress is slow, but we can't have no progress. There are also competitors in Lu Province and Zhejiang Province, so why can Mr. Wang and Mr. Yuan do well? In the end, it's all about the effort. I'll give you guys some time in Gan Province, but if there is no progress, I might choose to change the leader. "
Wu Bo's face slightly changed, but he nodded and said, "Rest assured, General Manager Li. I will go back and redeploy."
"Well, don't put too much pressure on yourself. Just do your best."
After Li Dong finished speaking, he asked the rest, "Do you guys have any more questions?"
Everyone shook their heads. Li Dong smiled, "Since you guys have no more questions, then I'll talk about what I'm going to do in the near future."
"Today, I'll only talk about the arrangements before the end of the year. There are three things in total.
First, the Annual Conference.
This year's Annual Conference is set to be held on January 26th. The relevant departments should make preparations. This is the first time we're holding an Annual Conference at our headquarters, so I hope it can be lively.
After all, the company has achieved great results in 2006, so the livelier it is, the better.
Second, the company will be preparing to issue a batch of corporate bonds.
I'll leave this to Mr. Shen, and I hope that all the departments will cooperate. After all, even if the funding gap is filled, if we want to develop Far Away, we still need money.
Third, the company will be restructured into a shareholding company.
And in a shareholding company, there is one thing that is indispensable, which is a board of directors.
Although you guys used to call me chairman, Far Away actually doesn't have a board of directors. So, from now on, my main focus will be on the preparation for the board of directors.
Who can enter the board of directors?
How many people are there on the board of directors?
I will make arrangements for these matters. In addition, some of you may enter the board of directors. I hope that everyone can work together to develop Far Away better! "
After saying that, Li Dong stood up and said, "That's all for today's meeting. Dismissed."
He picked up his teacup and was about to leave, but the others were moved.
The Annual Conference and corporate bonds were one thing, but the board of directors was closely related to them.
Li Dong said that he wanted to set up a board of directors and said that some of them would enter. Who would enter?
Entering the board of directors, regardless of whether Li Dong continued to be a dictator or gave up some of his power, would be a symbol of identity and status, as well as an indispensable benefit.
At this moment, everyone's hearts could not help but pound.
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