Chapter 377: Morning Tea (2)
"Listening to your story, it's not worth so much money," Qian Wenhan said with a smile, "If you really want to take over Taihua, it mainly involves overseas assets, and there will be great restrictions on Dongjiang Securities, and Xinhong's side can only squeeze out two or three hundred million at present!"
Cao Mo took action to fight for a controlling stake in Taihua, and the purpose was also to solve the follow-up construction problem of Conero Coastal New Town. This involves a series of current investments in the shores of Lake Conero, and in the future he may even put assets such as Conero cement into a listed company.
These are one of Tianyue's core interests in Africa, and Cao Mo has to fight for it.
However, because it involves overseas assets in areas with political instability and economic development, even if all high-quality assets with great profit potential such as Conero cement are loaded into listed companies, it is difficult to be popular among investors and institutions in China.
This directly limits the room for Taihua's stock price to rise in the future, not to mention that after taking over Taihua, they will have to solve a mess first.
Qian Wenhan didn't have much willingness to participate, and Cao Mo could understand it.
When he came back to see Ge Jun and Qian Wenhan this time, he was also thinking about how much he could get from them, and besides, he had other projects in his hands, and he wanted to involve Ge Jun and Qian Wenhan.
Xu Bin had known for a long time that Huachen Industry had been in contact with some potential buyers to negotiate the transfer of car-making assets, and that Tianyue Industry was still very weak, and they could only focus on the product design and research and development of motorcycles and engines in the early stage, and were not qualified to take care of this matter.
Of course, Xu Bin also talked to Huachen's old colleagues and leaders about the idea of Tianyue Industry taking over some of Huachen's car-making assets, but even his old colleagues and leaders scoffed at his idea.
A month ago, Xu Bin was officially instructed by Cao Mo to contact Huachen to negotiate the acquisition of car-making assets, but the progress was not smooth;
This is not what Huachen Group thinks about Xu Bin and Xu Lizheng.
Instead, the management of Huachen's passenger car and motorcycle division, when there are other options, are generally resistant to negotiating with Tianyue Industry.
Cao Mo is particularly touched by this.
The last time Cao Mo returned to China, Dongsheng's capital chain was already extremely tight, but the board of directors still didn't mention it at all, and it can even be said that it deliberately avoided talking about the introduction of capital and shares, and even thought of borrowing more than ten or two billion yuan from Cao Mo to tide over the current difficulties.
Shen Ji and Chen Rong all felt incredible.
Is this incident so naïve that Ding Zhaoqiang really thinks that Cao Mo is a weak and easily compromised person, or does Dong Chengpeng really have the ability to turn his hands into clouds and turn his hands into rain?
Or maybe Ding Zhaoqiang really doesn't know Han Shaorong's style of doing things at all, and doesn't know what kind of uncertainties and risks there will be when cooperating with Han Shaorong?
To put it bluntly, except for Ding Zhaoqiang, it is difficult to really let go of the condescending mentality towards Cao Mo in the past, most of the senior executives of Dongsheng can't accept for a while that Cao Mo, who was just a low-level employee of Dongsheng four or five years ago, has become the major shareholder of Dongsheng and the boss above their heads.
When did Yang Deshan correct this psychological awkwardness when he was fighting with Cao Mo? And Xie Sipeng really couldn't find a higher development path, so he decided to join Yibogu Mining.
Xu Bin and Xu Lizheng jumped out of Huachen to develop, and their superiors in the Huachen Passenger Car and Motorcycle Division in the past may have envy and jealousy in their hearts, but that's it.
However, if Tianyue in turn acquires Huachen Passenger Car and Motorcycle Division, Xu Bin and Xu Lizheng turn around and become their bosses and leaders, the impact and damage to the hearts of these people will be great.
As long as there are other options, the management of Huachen's passenger car and motorcycle business will inevitably resist negotiating with Tianyue Industry.
However, the situation is always stronger than the people.
In the past month, in addition to the deterioration of Huachen Industry's own operation, the external economic crisis has also intensified.
The two buyers, who are interested in taking over Huachen's car manufacturing assets and have already entered the substantive negotiation stage, have withdrawn from the negotiations in the past half a month after seeing the sharp decline in domestic and foreign car sales affected by the economic crisis in the second half of this year, as well as their own funds have also become tight.
Tianyue Industry, which is the most unpopular with Huachen Industry and has not been qualified to enter the substantive negotiation stage before, has become the only buyer.
Although Qian Wenhan's Xinhong Investment and Dongjiang Securities' industrial investment fund have become shareholders of Tianyue Industry after taking over part of the shares withdrawn by Dongsheng, on the one hand, their shareholding ratio is not high, 5% and 2% respectively, and on the other hand, the new board of directors has not had time to hold a re-election meeting, so they have not maintained immediate communication with Qian Wenhan and Ge Jun on this matter.
Instead, Cao Mo met Qian Wenhan and Ge Jun in person today to explain the details.
"Huachen Industry's car-making assets, don't look at the past few years have not been profitable, the scale is not low. Even if we can barely scrape together this fund, Tianyue can confidently digest it?" Ge Jun frowned and asked worriedly.
Xu Bin, Xu Lizheng, and Huang Yijiang led Tianyue Industry and did quite well, but Tianyue Industry only has hundreds of millions of assets, and only has the accumulation of technology and talents, and it undertakes more than ten or twenty times the scale of car-making assets at once.
"My heart is not as wild as you think. To undertake all the car-making assets of Huachen Industry, whether it is digestion or financing, it is too difficult, and there are risks that are difficult for us to control, Xu Bin and they are now proposing that they hope to take over Huachen's pickup production line and the corresponding technology and qualifications!" Cao Mo said, "They did not have the confidence to talk to Huachen before, until the other two buyers contacted by Huachen withdrew from the negotiations, they only called two or three times a day to report their work, in fact, urging me to return to China." ”
In China, pickup trucks are listed as freight vehicles for unified management, so that their traffic in most cities is strictly restricted, which also leads to the pickup truck model in the domestic sales market can not be opened.
Huachen was in the mid-nineties, when the domestic plan to relax the pickup management restrictions, spent a huge amount of money to introduce pickup production lines and technology, but ten years have passed, the domestic management restrictions on pickup trucks not only did not relax, but more strictly.
After that, Huachen has successively independently introduced production lines and technologies such as cars, but the operation has always been very unsatisfactory, and it has now become the most serious drag on the performance of listed companies.
If Huachen wants to avoid the bad luck of delisting, it needs to replace the assets that have dragged down the performance the most seriously from listed companies before the end of this year, and then replace some high-profit assets into it, so as to complete the goal of removing the hat first.
When the economic crisis was not revealed, Huachen Group did not say that it would definitely sell the car-making assets that had been replaced by the listed company.
However, now that the situation has deteriorated, the two buyers who have entered the stage of substantive negotiation and judgment have withdrawn one after another, and the overall operating condition of Huachen Group is worse, and the willingness to sell car-making assets has become stronger, and even a spin-off sale has to be discussed.
The buyers who contacted Huachen before mainly valued the growing domestic passenger car market, and the positioning of pickup trucks in China was really embarrassing, and Huachen must package pickup trucks into negotiations.
Therefore, even if Tianyue is willing to take over the pickup assets that are regarded as a burden by Huachen and other buyers at this time, it is completely negotiable.
Although the sales of new cars in Africa are very low, and most of the car sales market in Kanem and other countries is still occupied by used cars, pickup trucks, as one of the best-selling models in Africa, are not restricted by various domestic conditions, and the overall sales scale is more considerable than that in China.
As for Tianyue Industry, it has undertaken the distribution rights of Huachen pickup trucks in West Africa from the beginning, and is quite familiar with this business.
Tianyue Industry has now taken over Huachen's pickup assets, and there is no practical difficulty in digesting it, both technically and in overseas markets.
In addition, pickup trucks and small and medium-sized off-road vehicles can share the same production platform, take over Huachen pickup production line, technology, operation team and other assets, and there is no practical obstacle to the transformation of the production of small and medium-sized off-road vehicles - Xu Bin and they are also making plans to produce pickup trucks and small off-road vehicles.
The domestic market is extremely strict on the management of passenger car access qualifications, and an important reason why some buyers were willing to take over Huachen's car-making assets was to look at Zhonghuachen's full set of assets in the domestic market.
Tianyue Industry took over Huachen's pickup truck assets, of course, it is impossible to get the most precious passenger car qualification in their hands, and theoretically the small and medium-sized off-road vehicles produced by transformation cannot be sold in China.
However, the state is very active in encouraging the export of industrial products such as automobiles, and after Tianyue took over Huachen's pickup truck assets, it is not difficult to apply for the production and export qualification of small and medium-sized off-road vehicles.
Tianyue Industry can produce small and medium-sized off-road vehicles, and sell them overseas for more than three or five years, and then turn back to apply for domestic production and sales qualifications, there is not much difficulty.
More importantly, the production line of Huachen's annual output of 40,000 pickup trucks and related technology, operation and production team are only a little more than 600 million yuan, which is a quotation that Tianyue Industry is fully capable of bearing at this time.
"If you want to do it, just do it, is there anyone else in the Huachen Group who is holding a posture and wants me to come forward with Ge Jun to make an agreement?" Qian Wenhan heard Cao Mo explain the relevant situation in detail, and said bluntly.
As long as Tianyue Industry does not take too big a step and is sure that it has the ability to digest the assets of Huachen Pickup, Qian Wenhan will certainly not be able to object; and he only holds 5% of the shares in Tianyue Industry, and according to the proportion, he will share the capital injection of 30 million yuan, and he has no pressure at all.
"If we can negotiate with Hua Chen, I think half of the funds needed will be injected by the major shareholders, and the other half can be borrowed from the bank in the name of Tianyue Industry, or in some other way?" Cao Mo asked.
Cao Mo nominally holds less than 70% of Tianyue Industry's shares, but in fact, Xu Bin, Xu Lizheng, Huang Yijiang, Shen Ji and others cannot raise money from other channels to participate in the capital injection, so he has to lend them some funds first.
If the required funds are completely invested by the shareholders, Cao Mo will probably come up with 500 million.
Cao Mo is still thinking about reducing the consumption of his own funds as much as possible......