It was April 2nd, 2007.
Far away bonds were officially launched and sold.
The previous roadshow inquiry had been completed by several underwriters of China Construction Bank independently at the end of March.
According to Li Dong's original plan, he and the Far away team would participate in the roadshow in person.
However, the plan could not keep up with the changes. Far Away had a debt crisis first. Then, several large groups in Longhua took action together. Before it was officially launched, two billion worth of bonds were booked in advance.
At this time, there was no need for Li Dong and the others to show up. Far Away had a billion worth of corporate bonds. It was not difficult for Jiangbei to buy these bonds.
The result was just as Li Dong had expected.
On the morning of the 3rd, Li Dong rushed to the company.
As soon as he arrived at the conference room, everyone applauded thunderously.
Yuan Chengdao said excitedly, "General Manager Li, Far Away bonds were sold out in one day. We succeeded!"
Everyone sighed with emotion. The launch of Far Away bonds seemed to be a simple success, but in fact, it was full of difficulties.
From the moment Li Dong came to Beijing to make connections, the three billion worth of bonds had constantly brought trouble to Far Away.
The previous capital chain crisis was also caused by the issuance of bonds.
Now, the bonds were sold out in one day. Far Away had paid a lot for it. In some people's eyes, the price was even higher than the face value of the three billion.
Li Dong pressed his hands together, and the applause gradually subsided.
When everyone quietened down, Li Dong chuckled and said, "Isn't this something we've already expected? We should have been mentally prepared to climb mountains and achieve such results. However, the success of the bond issuance is still worth celebrating. Chen Ke, go to Tianhu Hotel and book a few seats. Let's have a good lunch at noon! "
Chen Ke nodded quickly, and the others also looked happy.
What they were happy about was not the lunch, but the meaning of it and the fact that everyone could take a breather.
Li Dong said simply, then sat down and said, "Director Liu, tell me, how much money does the company have now and how much will we need to spend next?"
Liu Hongmei stood up and said: "General Manager Li, the money for the bonds is not in our hands yet. The bank needs to settle the accounts, and we will only be able to enter the account at the end of the month."
"It's okay. Just add it in first. The bank won't dare to swallow our money."
Liu Hongmei nodded and said, "Then I'll tell you about it. Previously, Dongyu Real Estate urgently sold a batch of properties before the New Year, and the company received 930 million yuan. After the New Year, the housing prices in Pingchuan started to rise, and the housing market started to pick up. The remaining houses in Dongyu District sold well because our housing prices were lower than other real estate developers. The remaining houses in Crystal Garden and Wantai Hua Manor were also sold out quickly. Because we bought back a batch of properties from Greenland and other small real estate developers, plus our remaining properties, Dong Yu Real Estate's total sales reached 1.52 billion. Apart from that, the rest was the profits from Faraway Supermarket and Mall, which were about 600 million yuan in the past few months. In addition to the 2 billion yuan you previously injected and the 1 billion yuan loan from CCB, the total revenue reached 6 billion yuan. If we add the funds from the bonds, our current cash flow is about 9 billion yuan. "
"9 billion yuan?"
Li Dong smiled and said, "It's more than what you said before. Dong Yu Real Estate's performance this month is not bad."
Wu Shengnan, who was sitting on the second seat on his left, smiled and said, "Thanks to General Manager Li, as soon as the press conference was held, our district was in a state of rush sale. Most of the money after that was refunded in the past few days."
Li Dong nodded and said, "Dong Yu Real Estate still owes about 3 billion yuan. Pay this debt first. After all, it has been delayed for a while."
Yuan Chengdao and Liu Hongmei both nodded in response. Yuan Chengdao thought for a moment and said, "General Manager Li, what about the money from Longhua?"
"Longhua …"
Li Dong knocked on the table and said, "Do you think I should renege on the debt for a while longer?"
Everyone could not help but laugh. Shen Qian advised, "It's better to pay it back. Hsu Shengzhe can't do anything to you, but Xu Jianghua probably can't take it anymore. If you don't pay it back, I'm afraid Xu Jianghua will come to you. When that time comes, it won't look good. "
Yuan Chengdao also laughed dryly and said, "Then pay it back. After all, it's already past the contract time. It won't be good to delay it."
Li Dong sighed and said, "Then pay it back. Actually, I was planning to delay it for another six months."
Everyone was speechless. Delay?
If they delayed it any longer, Longhua would really fall out with them.
Li Dong smiled and said, "That means, 4 billion yuan is gone?"
Liu Hongmei shook her head and said, "Not only that. When we acquired Time, we agreed to pay the purchase price within a year. It's already April now, and it's almost time. So, we have to prepare the remaining 700 million yuan. "
"That's 4.7 billion. Is there more?"
"There's also the expansion plans for Gan, Zhejiang, and Lu provinces. We've spent most of the money from the previous three provinces. We're going to start the second round of investment soon, at least 1 billion."
"That's 5.7 billion, right? Is there more?"
"There's also Hubei Province. We've almost reached an agreement with Zhongbai. Far away needs to enter the empty market that Zhongbai gave up as soon as possible to prevent others from getting ahead of us. The initial estimate is that the investment will be no less than 800 million. "
"6.5 billion, right? Is there more?" Li Dong raised his eyebrows and said.
Liu Hongmei said expressionlessly, "There's also the shopping mall. We've been spending too much recently. In addition, there's a national large-scale promotion plan and the upgrading of the shopping mall's system. We need to continue investing."
"How much?"
Liu Hongmei did not say anything and glanced at Shen Qian.
Shen Qian said in a muffled voice, "According to the shopping mall's plan, we need to invest at least 500 million."
"Then 500 million. That means 7 billion is gone?"
Everyone's cheeks twitched. The more you do it, the more disappointed you get.
Previously, when Liu Hongmei said that the company's liquidity was as high as 9 billion, everyone was elated and felt that they could relax.
But in the blink of an eye, 7 billion was gone, and it looked like it was not the limit.
As expected, the moment Li Dong finished speaking, Wu Shengnan said cautiously, "In addition, the buyback plan that we've reached with a few other companies is almost completed. Dongyu Real Estate is preparing to buy back the remaining properties. The initial estimate is that the funds will be no less than 1.5 billion. Also, Pengfei Real Estate. We did not give them the 500 million that we agreed on previously. What do you think …"
Li Dong smiled faintly and said, "In that case, the 9 billion has been divided by you?"
No one dared to say anything. Yuan Chengdao saw the situation and coughed dryly. He said helplessly, "General Manager Li, this money has to be used. We really have no other choice."
Li Dong took a deep breath and said, "Use it. I didn't say that you won't be using it. What is money used for? Isn't it used for? But I'm a little scared when you use it. It's 9 billion! I haven't even seen it, and it's gone in the blink of an eye? "
Yuan Chengdao muttered in his heart, "You're the one who spent it."
For example, the expansion plan in Hubei Province and the renovation and expansion plan of the mall were not part of the budget.
Li Dong grumbled and did not say much. He continued to ask, "Even if the 9 billion is gone, how much do we still owe now?"
Liu Hongmei answered, "According to the plan just now, after paying off the money, we only have 400 million left in the loan of Times. Faraway Supermarket's new loan of 1 billion, plus the previous 800 million, a total of 2.2 billion. The other thing is the bonds. "
"After all, it's still 5 billion. Why do I feel that my money has been spent in vain?"
Li Dong muttered. Yuan Chengdao quickly said, "General Manager Li, you can't say that. After all, with this money invested, we can completely open up the markets in Jiangzhe, Jiangxi, Shandong, and Hubei provinces. Far Away Mall has also expanded. In addition, Dong Yu Real Estate has bought back properties from other real estate developers. We can continue to sell them later. Overall, our scale has expanded by more than one-third."
After that, Wu Shengnan also nodded and said, "Because of our poor planning in the early stage, it caused a shortage of funds. Now that Dong Yu Real Estate's debt is almost zero, it will be much easier next. We can stagger the loan timing. Dong Yu Real Estate can continue to expand, and I think it won't be difficult to even double the size. "
As soon as she finished speaking, Yuan Chengdao frowned and said, "CEO Wu, the current task of Dong Yu Real Estate is to maintain stability. After all, Greenland and Pengfei Real Estate have not been integrated yet. I think we should try not to continue to expand. If we blindly expand, we may face difficulties next year. "
The reason why Faraway Group was under a lot of pressure this year was mainly caused by Dong Yu Real Estate.
The 4 billion due debt almost drove everyone crazy.
Now everyone had a lingering fear. When they heard Wu Shengnan said to continue to expand, everyone naturally didn't agree.
After Yuan Chengdao finished speaking, Wu Shengnan suddenly frowned and retorted, "CEO Yuan, you can't just look at the surface! You only see Dong Yu Real Estate's expansion and debt maturing, but do you know how much Dong Yu Real Estate earned last year? The reason for the current situation is because General Manager Li transferred Dong Yu Real Estate's funds to expand other businesses! The development funds of Faraway Supermarket were almost all provided by Dong Yu Real Estate! It's the same for the shopping mall, including the logistics company. Did these companies' expansion money come out of thin air? I won't say it in the past, but now that Dong Yu Real Estate has no debt, and the market is good, we can continue to expand. What's wrong with this? "
Yuan Chengdao, Shen Qian, Qin Hai, and the others were suddenly speechless.
They really couldn't continue to speak about this matter. It was normal for Wu Shengnan to be dissatisfied.
Last year, Dong Yu Real Estate provided a large amount of cash flow for the company. Far away, when the debt crisis broke out, everyone blamed her for blindly expanding.
But in fact, the root cause of Dong Yu Real Estate's debt last year was Li Dong. He almost took all the money from the real estate company and only left the debt. What could Wu Shengnan do?
If the money wasn't taken away, the real estate company would still have funds left for development.
Wu Shengnan flipped out. Others didn't speak, but Li Dong couldn't not speak.
After pondering for a moment, Li Dong said, "Shengnan, it's not that I oppose Dong Yu Real Estate's expansion. But what CEO Yuan said before is also reasonable. We still haven't finished digesting Green and Pengfei's resources. If we continue to expand at this time, it will be troublesome whether it's funds or manpower. Take it easy. After digesting the fruits of victory, I will be the first to support you in the second half of the year. "
Wu Shengnan said with some unwillingness, "General Manager Li, but the market is very good now … …"
Li Dong waved his hand and said, "The market is good, but if we wait for the land to be sold, I'm afraid it will take a year. Can you guarantee the market after a year? It's not that I'm timid, but the current land price and housing prices are a bit high. It's not worth it. Let's wait for a while. When the land price falls, we will make our move. "
Wu Shengnan frowned and didn't say anything. Fall?
With the current market, could it fall?
If it didn't fall, would Dong Yu Real Estate be stuck in their old ways?
Li Dong saw that she didn't reply and smiled, "How about this, I will give you a guarantee. Whether it falls or not, I will definitely give Dong Yu a chance to develop before the end of the year. The investment will not be less than 3 billion."
Since Li Dong said this, although Wu Shengnan was unwilling, it wasn't good for her to say anything. She nodded and quieted down.
Gently letting out a breath, Li Dong asked, "What's the budget for the second half of the year?"
The four provinces development plan was set a long time ago, and the money would be spent in the first half of the year.
In the second half of the year, Faraway Group also needed a lot of money.
After Li Dong finished speaking, Liu Hongmei said, "The first is the cooperation with Suning. They will advance the funds for the first half of the year. In fact, it may be faster. After all, we are not slow now. It is likely that we will need to invest in July or August. The initial budget is about 2 billion. "In addition to this, you said before that you want to open the channel to Sichuan, which means that we have to prepare the funds for the expansion of Shancheng and Sichuan. I'm afraid this amount will not be less than 2 billion. "In addition, there is the logistics company and shopping mall. I don't know much about the follow-up expansion plans. President Shen and President Qin, can you provide me with a rough figure?"
Qin Hai, who had been silent, thought for a while and said, "Previously, I communicated with General Manager Li and President Yuan. This year, the logistics company will be building a few large warehouse centers and about 500 express delivery stores. The total investment is about 2 billion. The logistics company is temporarily supporting shopping malls and supermarkets, so its profit is not high. I'm afraid we will need support from the headquarters. "
After Qin Hai finished speaking, Shen Qian glanced at Li Dong and said, "It's about the same on my side. The plans you told me before all need money. Let's start with 2 billion."
Yuan Chengdao and the rest frowned. Let's not talk about the logistics company.
Forget about the logistics company, but the shopping mall had already invested 500 million. In addition to the previous investment of no less than 500 million, how long had it been? Not to mention that 1 billion was used up, they still had to prepare 2 billion?
The shopping mall had almost no profit, but with such a large investment, everyone could not help but feel a little unbalanced.
When Li Dong saw that everyone was silent, he smiled and said, "I agreed to this money. The shopping mall will have a big plan in the second half of the year. I won't disclose it for now, but this investment will be worth it. Everyone, don't worry."
Li Dong was prepared to use this 2 billion to occupy the mobile phone customer market. But now that smartphones had not appeared, there was no need to say too much.
Regardless of whether others understood or not, Li Dong calculated and said, "That means we have to invest another 8 billion in the second half of the year?"
Everyone's expression changed. Yuan Chengdao also felt a headache and said, "Yes, roughly that much."
"But everyone, don't worry too much. The properties bought by Dong Yu Real Estate can continue to be sold, and the return should be about 2 billion. As for the supermarkets, their profits this year will definitely be higher than last year. It should be around 2 billion to 3 billion. As for the shopping mall and logistics company, although the profits are not much, there should still be some. Altogether, the funding gap should be around 3 billion. 3 billion, we can get loans and think of other ways. At least it will be easier than now. "
Everyone nodded. Naturally, it would be easier then.
After all, they had invested so much in the first half of the year. So far, the market value had increased by at least a third. Their total assets had exceeded 20 billion.
It would be much easier to get loans then.
Furthermore, if it really did not work, they could give up on the expansion of some industries. For example, the shopping mall and Sichuan, everyone felt that they could give up on them.
Now, Li Dong was persevering because he had not reached a dead end yet.
When the company really ran out of money, could Li Dong still force everyone to their deaths?
Unless he got more money himself. Then, no one would have any objections.
The meeting was almost over. Today, they mainly talked about this year's budget.
After everyone left in twos and threes, Li Dong exhaled and said, "I spent 17 billion in half an hour. I realized that I'm getting better at spending money."
Yuan Chengdao did not know whether to laugh or cry. He did not know how to reply.
Was it worth it to spend 17 billion?
Logically speaking, it was definitely worth it.
Once the 17 billion was spent, the total market value of the company So far in 2008 would probably not be less than 30 billion.
But in Yuan Chengdao's opinion, it was not worth it to spend this money.
If the pace was too fast, it would easily cause a series of problems. If they could delay it for a year, the situation would be much better.
But now that the matter had been settled, it was useless for him to say anything.
Li Dong was just sighing. In fact, even if Yuan Chengdao objected, it would not have much effect.
After sighing, Li Dong continued, "The Changjiang Business School has decided. I will report before the 8th. I will not be back until the end of the month. You can decide what to do with the company. We don't have to worry about money for the first half of the year. Take it easy. Don't spend it all in a few days. "
Yuan Chengdao gave a hollow laugh and thought to himself, Do you think I am as bold as you?
Of course, he did not dare to say this out loud.
After Li Dong finished speaking, Yuan Chengdao said, "General Manager Li, since you are there, there is no need to trouble two people. Some of the MBA and EMBA students in the Business School are quite capable. So far away is developing and expanding now, and we need talented people. You can pay attention to them. If you meet a good seedling, you can help the company recruit a batch of new blood. "
Li Dong nodded and said, "It depends. If I meet a suitable one, you don't have to say it. I will contact them."
The two exchanged a few words and then went their separate ways.
When Li Dong left the company, Zhou Haidong and Tan Yong quickly followed.
Seeing that Zhou Haidong seemed to have something to say, Li Dong pressed his hand and said, "Let's talk in the car."
The two nodded and followed Li Dong into the car without saying a word.
You've already exceeded your reading limit for today. If you want to read more, please log in.
Login
Select text and click 'Report' to let us know about any bad translation.
