After Liu Hong left, Li Dong was no longer in the mood to look at the documents.
After staring at the ceiling for a while, Li Dong suddenly straightened his body and said, "Bai Su!"
Bai Su hurriedly entered the room and said, "General Manager Li, what can I do for you?"
"Ask Director Liu to come here!"
Far away had many executives with the surname Liu, but CEO Liu referred to Liu Hong, and Director Liu referred to Liu Hongmei, the financial director.
Bai Su nodded immediately and went to make the call. Li Dong was thinking about the next step of the plan.
He had gathered tens of billions of cash from the stock market, and he had to plan this money well.
He could not just fill in the hole. If he really did that, tens of billions would not last long.
After writing on the paper for a while, Li Dong thought about how to maximize the benefits.
…
Not long after, Liu Hongmei entered the office.
Not only did she come, but she also brought a thick folder with her.
As soon as Li Dong summoned her, she knew what Li Dong wanted to ask.
In the past six months, Li Dong had not asked much about the financial affairs. At most, he would look at the documents and reports. Liu Hongmei was surprised by Li Dong's calmness.
After all, the company was changing every day. Li Dong had not asked about these in the past six months. It was a long time.
Seeing that she was prepared, Li Dong did not beat around the bush and went straight to the point. "Give me a general overview of Distance's current situation. Total assets, liabilities, net assets, and book funds. Give me a general overview."
Liu Hongmei nodded and opened the folder. "Then I will make a simple division first. Far away can be divided into four major parts.
Supermarkets, logistics, real estate, and Far away Technology.
I will talk about the total assets of the major subsidiaries first. After all, our liabilities are a bit messy. Some are the liabilities of the supermarkets, but in fact, we use logistics and Far away Technology. This is a bit messy.
In the future, the financial department will further accelerate the independence of the major subsidiaries' accounts.
After all, if the situation continues to be chaotic, it will be detrimental to the development of enterprises. It will be difficult for us to implement some reasonable tax avoidance measures.
Moreover, when it goes on the market, this will also be a big problem … "
Li Dong nodded and said, "I have no opinion on this. You can discuss it with Mr. Yuan later."
"Alright, I've already prepared the plan. Just remember to sign it when the time comes."
Liu Hongmei made a joke and then resumed her serious expression. "Let me talk about the supermarket first. Faraway Supermarket currently has a total of 10 branches.
Jiangbei, Sunan, Jiangxi, Zhejiang, Hubei, Shandong, Henan, Beijing, Tianjin, Shancheng, and Shanghai.
As of May, a total of 642 stores were in operation.
Among them, there were 19 first-class stores, 68 second-class stores, and 215 third-class stores …
Of these 600 stores, only 68 belong to us, which accounts for about 10%.
The other stores were all leased, and the lease period was usually about 10 to 15 years.
Currently, the total value of the supermarket's fixed assets was estimated to be around 23 billion.
Including several of our large distribution centers.
In terms of intangible assets, the value is also as high as 4 billion.
Therefore, it should not be a big problem for Faraway Supermarket's current total assets to reach 27 billion. "
"27 billion …" Li Dong knocked on the table and did not say much about this. Instead, he asked, "Our proportion of self-owned property has reached 10%?"
Liu Hongmei nodded.
Li Dong smiled and said, "Not bad. It's better than I thought."
In the future, when physical supermarkets were hit, it could be said that the increasing rent was also one of the main culprits.
Labor and rent were the two biggest expenses.
The increasing rent caused the supermarkets to make money for the landlords, especially for those supermarkets that did not have a high proportion of self-owned property.
In 2008, most supermarkets expanded the size of their stores in the form of leasing. After all, opening a store meant buying a property, and the expenditure was too high.
So far, the current 10% proportion seemed not much, but in fact, it was already very high.
In fact, the average level in the industry was generally only about 5%.
This was for the old supermarkets. Some small scale emerging supermarkets had a lower proportion of free property.
For example, in Yonghui, it was probably less than 5%.
The real increase in the proportion of self-owned stores was a few years later. At that time, due to the impact of e-commerce, the rent was getting higher and higher. The retailers could not afford it, and finally decided to expand their own property.
In 2008, the rent was not high, and retail profits were high. Without the impact of e-commerce, there were not many retail companies that cared about this.
Of course, some companies that had their own real estate development companies, such as China Resources and Suning, had an advantage over Bailian in this regard.
Li Dong was now gradually expanding the proportion of self-owned stores, but the cost was too high. Being able to occupy 10% was already his best.
At present, Li Dong's direction was not on this. First, complete the national layout, and then gradually privatize property rights. This was the right way.
Anyway, he was not in a hurry. So far had just been established, and the contracts signed were generally after 2020.
Unlike other supermarkets, which had been established for a long time, a large number of store contracts would expire in the next three to five years. The wave of store closures in the future was also related to the expiration of the lease.
The landlords increased the rent like crazy, and some stores' rent more than doubled. The companies had no choice but to close the stores.
After thinking for a while, Li Dong said, "Continue."
Liu Hongmei continued to flip through the documents and said, "Just now, it was about the supermarkets. The second is about logistics.
The logistics company is mainly divided into four parts. First, the various storage centers.
Second, the express delivery points.
Third, the unfinished So far away logistics park.
Fourth, the shares of Sichuan Airlines.
In terms of the storage centers, there were currently six storage centers in use, and a total of four storage centers were still under construction.
Last year's plan of 1,000 stores had been completed, and this year, there were another 200 new delivery points, reaching a total of about 1,200 stores, almost covering the entire Hua Xia.
So far away logistics park had already started its final phase of construction, and there was hope that it would officially be put into operation early next year.
Today, we have invested a lot in logistics. Since the beginning of the year, most of the profits from the supermarkets and shopping malls were invested into logistics.
Just in terms of investment, we have invested more than 10 billion in logistics. Now, the value of the logistics company is probably no less than 12 billion. "
Li Dong couldn't do anything to a logistics company that ate a lot of money.
Actually, it did not cost much to set up the express delivery points. The main investment was the storage centers and So far away logistics park. Just these two projects alone had consumed about 6 to 7 billion.
Together with the shares of Sichuan Airlines, the real money was spent on these things.
Also, this was just the beginning. According to Qin Hai's plan, he would need tens of billions to build storage centers in all the first and second tier cities.
The reason why the assets only reached 12 billion was because of the sharp drop in land prices this year. If not, it would be more than this amount.
Li Dong thought for a while and said, "That means, the total assets of the logistics company and the supermarkets will reach 39 billion?"
"More or less, but this is just our internal estimate. If we want to be sure, we need to hire a professional evaluation agency to conduct a large-scale evaluation."
"That's not necessary. I just need a rough understanding. Go on. "
Liu Hongmei nodded and flipped the page on logistics. She continued, "Next is Dong Yu Real Estate.
Dong Yu Real Estate has been making big moves recently. CEO Wu has acquired 6 pieces of land in various places. In addition to the land in the West District, we have exchanged 4 pieces of land with the Ping Chuan government.
We now have a total of 23 pieces of undeveloped land with a construction area of up to 5 million square meters.
Among them, the land in Beijing CBD is worth the most, more than 3 billion.
The other 22 pieces of land, according to the current market price, are worth more than 22 billion.
Other than these undeveloped land, Far away Building, Greenland Building, Far away Square, and a few other commercial buildings are also entrusted to Dong Yu Real Estate.
Far away Real Estate Company and Far away Security Company are also under Dong Yu Real Estate's management.
In terms of total assets, Dong Yu Real Estate is even more than the supermarkets. The total value will not be less than 30 billion. But … "
Liu Hongmei glanced at Li Dong as she spoke. She coughed lightly and said, "But for the lands that we acquired in the later stages, we didn't have to fork out any money. We only signed simple agreements. If you want to calculate, the debt is not low."
Of course, Li Dong knew this. He was the one who asked Wu Shengnan to do it.
First pay a deposit, and then delay the payment for a few months. Therefore, other than the few pieces of land that were exchanged with the Ping Chuan government, the land that was acquired later was actually Far Away in name.
Nodding, Li Dong said, "I know this. Don't worry about this for now. We will calculate the debt later."
"Okay, then I will continue to talk about Far Away Technology. Far Away Technology is the simplest. After all, we have financed before. All the major institutions have given us a price. This should be the most accurate figure. According to the previous price, the highest price was about 4.5 billion USD. Later on, we merged with Wan Jia Net and achieved a lot of success in the game business. There are also the video, pea pod, and Wan Toon businesses. Together, we can reach about 5 billion USD. According to the current exchange rate, give me a rough figure. 35 billion RMB. "
"270, 120, 300, 350 …"
Li Dong muttered a few words, then his eyes moved slightly. "So, our total assets exceed 100 billion?"
He had been saying that Far Away wanted to become a 100 billion group.
A long time ago, people in the outside world said that Far Away had entered a 100 billion military group, but in fact, they had overestimated Far Away.
Until now, Dong Yu Real Estate had used a lot of methods to acquire a few pieces of land. Far Away had only just exceeded 100 billion.
As for the debt, even if Liu Hongmei did not say it, Li Dong knew that it would be a lot.
Seeing that Li Dong answered, Liu Hongmei smiled and said, "Yes, General Manager Li. Currently, our total assets have exceeded 100 billion, reaching 104 billion. But … "
Li Dong coughed and said, "But the debt has increased a lot, right? This doesn't matter. I am mentally prepared. After all, we borrowed some money from the bank this year. Plus, we haven't paid for the land, so the debt will definitely increase. "
Liu Hongmei smiled and said, "Indeed. At the end of 2007, when the group was liquidated, our total debt reached 22 billion. In the past six months, we have paid a part of it, about 2 billion. In other words, the previous debt is only 20 billion. But during this time, our funds are relatively tight. We borrowed another 1 billion from the bank, and the land has increased our debt to more than 9 billion. Calculating it, our total debt is close to 30 billion. "
Liu Hongmei suddenly smiled and said, "But there is one good thing. It seems that the debt is more than last year, but in fact, the debt ratio has decreased. After all, our industry has increased a lot. According to the scale of 100 billion, the debt ratio is 30%. Compared to other companies, our debt ratio is relatively low. Far Away, our debt ratio is relatively low. "
The debt ratio of the real estate industry had always been the highest, and some even exceeded the total assets.
The retail industry was not low either, generally maintained at around 50%.
Far Away, the debt ratio was only 30%. Among large groups, it was not the lowest, but it was definitely one of the few.
There were very few companies with a scale of more than 100 million in China that did not owe money.
At least, Li Dong did not know much. The one that left a deep impression on him was probably Old Godmother's family. They were the weirdest of the best, and they did not seem to have any debt.
A debt ratio of 30%, in other words, in terms of net assets, Faraway Group had reached about 70 billion.
Compared to last year, in half a year, it had increased by about 30 billion.
The value added of the Internet industry exceeded more than 15 billion. In addition, the profits of various industries this year, such as shopping malls, supermarkets, PP, and logistics, had a profit of more than 5 billion in half a year.
As for the remaining 10 billion, Li Dong sold his shares to inject 700 million. The land in the West City District was replaced, and Pengfei Real Estate was kicked out. The valuation had increased by more than a billion.
The remaining 8 billion belonged to the appreciation of intangible assets and fixed assets.
Far Away was getting bigger and bigger, and fame was actually money.
Brands, patents, and even human resources Far Away could be counted as assets. This increase seemed to be a lot, but in fact, it was within a controllable range.
However, all of this had to be based on the fact that Far Away could continue to maintain its current reputation. Otherwise, if Far Away went bankrupt, the value of these industries would be greatly reduced.
Far Away went bankrupt one day, the estimated assets of 100 billion now might fall by as much as half when it was reevaluated.
It was normal in the business world to step on the weak.
But no matter what, Far Away had been doing well this year. Everyone was in danger due to the financial crisis, and many enterprises were in a state of semi-bankruptcy.
At this time, Far Away could go against the trend and rise by a large margin. If word got out, it would probably shock a lot of people.
After Liu Hongmei finished reporting, she said, "Another thing is the liquidity on the books. Currently, we only have 1 billion left. 300 million is the money from Weibo, and we can't touch it for now. 700 million is the money from the shopping vouchers, and I'm afraid it's not easy to touch it either. Also, next month, we have a batch of goods due. The amount is more than 500 million, and we need to repay some loans. In total, we need about 1 billion. Even if we use the money from the shopping vouchers, we can't spend all the money in the accounts. According to my idea, we should stop the expansion of the logistics business next month, and transfer all the profits from the supermarkets to the headquarters for backup. What do you think, General Manager Li? "
As a 100 billion corporation, it was embarrassing to not have a single cent in the accounts, even if the debt was not high.
Li Dong thought for a while and said, "You don't have to worry about this for now. I will hold a board meeting to settle this. Don't touch the money from the shopping vouchers and Weibo for the time being. If we really spend all the money, I'm afraid Director Yuan will come to me for revenge. "
Liu Hongmei laughed bitterly. It's good that you know.
As for how Li Dong would solve this problem, Liu Hongmei couldn't be bothered to ask.
If there was no other way, they could get a loan. Although it was difficult to get a loan now, they could still get a few billion in Far Away's name.
This was also the reason why Yuan Chengdao and Liu Hongmei didn't complain to Li Dong this year.
If it was in the past, these two would have broken through the door.
After listening to these things, Li Dong already had a plan in his heart. He also had a plan on where he should use the money on hand.
After sending Liu Hongmei away, Li Dong's expression changed. He mumbled, "100 billion corporation … That's fast."
Although only the total assets had reached this range, in the business world, it was based on total assets. No one had ever heard of using net assets to calculate a company's value.
No matter how much the debt was, at least Far Away could legitimately say that it was a 100 billion corporation.
Even Li Dong was in a daze. Why did he feel like he was dreaming?
Four years. It was only four years!
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