Chapter 570 Joint and Several Liability for Guarantees
So far, Li Yan actually doesn't know that Tian Yuhua actually has a plan to transfer all 150 million shares of Jialing Holdings to Guanglong Foundation Group Co., Ltd. for a price of 1.82 billion yuan.
But Li Yan doesn't know, it doesn't mean that Wu Zhilin doesn't know either.
Jialing itself sold all of its existing businesses, assets and liabilities to the state-owned Southern Group. He issued shares to Guanglong Foundation to purchase the highway and commercial real estate assets it held.
Previously, Jialing's restructuring plan once took Guanglong Real Estate as one of the targets.
The outside world also believes that Guanglong Real Estate is taking advantage of this to set foot in their own secondary market in China. Start their campaign on the stock market.
When Wu Zhilin knew the news at the time, he didn't say much. After all, such a hot potato, it is really strange that Tian Yuhua left it in his hands.
After all, for Jialing, for Tian Yuhua, due to the difficulties in the operation of the main motorcycle business, Jialing has been hovering on the profit and loss line in recent years, and selling shells is really the most helpless choice.
As early as more than 10 years ago, there were rumors in the market that Jialing was going to sell shells.
Jialing's performance has not been able to rise, and there are no high-quality assets, from the perspective of the state-owned armament group, rumors seem to have this idea all along.
Now, Jialing's announcement said: After repeated arguments by intermediaries, the restructuring transaction plan and the assets to be placed have intra-industry competition problems with other assets controlled by the actual controller of Guanglong Foundation, and due to major changes in the securities market environment and regulatory policies, there is no room for adjustment in the plan, and the company decided to terminate the restructuring due to the failure to complete the restructuring related plan in the near future.
On the afternoon of the same day, Jialing issued another announcement stating that Southern Group had terminated the equity transfer agreement between it and Guanglong Foundation.
In fact, as early as the beginning of the year, Jialing began to suspend trading to plan restructuring, and once used Guanglong Real Estate as the target company to acquire the latter, and repeatedly changed.
Now that the restructuring has failed, Jialing attributes it first to changes in the policy environment.
In the eyes of the outside world, the long-term downturn in stock prices is one of the reasons why Guanglong Real Estate is eager to have an A-share listed company, especially after its rapid performance growth in the past two years.
The reason why Jialing spared no effort to promote the restructuring was that its controlling shareholder Tian Yuhua was eager to get rid of the burden.
As the earliest motorcycle company in China, Jialing was once brilliant, but then gradually declined.
In last year's annual report, Jialing only received a revenue of just over 1 billion yuan, and its net profit was a loss of 200 million yuan! A year-on-year decline of nearly 30 percent!
Picking up the teacup, Tian Yuhua smiled bitterly at Wu Zhilin and said: "The whole market is not good this year, and according to the regulations, the profit loss for two consecutive years will be subject to ST warning, and if you lose money, you will be stard." Jialing has now reached the edge of the cliff. ”
Wu Zhilin gently put the teacup in his hand on the table, looked at Tian Yuhua and the people around him, and said with a smile: "Mr. Tian, we are also old friends." I know that in recent years, your Jialing has been hovering on the profit and loss line, and in recent years, after deducting non-profits, its net profit has been in a state of loss. I have read the statistics of the motorcycle branch of the Automobile Industry Association, and the decline rate of production and sales in the entire motorcycle industry last year was more than 10%......"
Before he finished speaking, a woman in her forties sitting not far from Tian Yuhua snorted heavily: "Are you looking at our jokes?"
Wu Zhilin glanced at her and said with a smile: "On the contrary, we are here to send warmth to Jialing!"
Before coming, in fact, Wu Zhilin had already listed an ambitious fundraising plan in front of Li Yan!
The most critical part of this plan is actually not Jialing's attitude. It's the state-owned Southern Group behind Jialing!
When listening to Wu Zhilin's chat with Tian Yuhua and others, he thought in his heart: "If the operation of this project can be successful, I have to think about how to merge Jialing into the rare earth project......
Next, Wu Zhilin and Li Yan began to discuss capital operation with Tian Yuhua and others.
The edge was misty, but he also had another calculation in his heart.
When they went to Xiangjiang this time, Tian Yuhua asked them how to cooperate with each other, which was already in their calculations.
During the dinner, there were no more than three aspects to talk about.
The first is that Jialing Group borrowed a total of 1.05 billion yuan.
The second is pledged by the corresponding equity of rare earths held by the edge.
The third is to stipulate the term of the loan and the compensation of the income to the Jialing Group. The initial commitment return is 100 million.
After Tian Yuhua took a sip of tea from the teacup, he thought for a moment and said: "The overall plan is that there is no problem, but I need to add a few points: First, this amount is a convertible bond, which can be converted into equity. As for when, at what price, and how much, the initiative lies with you. Second, the guarantor also needs to add Wu Zhilin, and you need to bear joint and several liability. As for the third, the income compensation is 200 million yuan, not 100 million yuan. ”
When the edge heard this, a layer of white sweat instantly appeared on his forehead. With a slightly tangled expression, he said: "20% income, isn't this usury?!"
Li Yan thought about it for a while, and whispered to Wu Zhilin: "The income compensation is too high. They want to get into the industry, but they also know that this is new territory and that generating revenue takes time and seems to need to be carefully weighed. In addition, if you want to change your guarantee to a convertible bond, is it a bit too much of an appetite?"
Wu Zhilin didn't speak, but gently raised his hand under the table and stroked Li Yan's leg, which meant more to be a little calmer.
Tian Yuhua glanced at Li Yan, and seemed to be a little dissatisfied with the whispering between him and Wu Zhilin.
At this time, she turned her head and said to the edge: "Edge, what do you think?"
Edge and Ben didn't expect Wu Zhilin to ask himself, and he was stunned for a moment and said: "This, I think everyone can still talk about it!" Of course...... It must be in the direction of peace and benefit, right?"
"Haha, indeed! I like what you say!" After Tian Yuhua finished saying this, he turned his head to Wu Zhilin and said: "We are in business, with your Wu Zhilin's grand introduction, and your identity as the leader of the Demon Hunting Alliance in the financial circle, we have trust! But businessmen pursue maximum profits, and on the premise that both parties can benefit, either party has the right to pursue interests, right?"
After Tian Yuhua said this, he subconsciously froze. Seeing Wu Zhilin's frowns, Li Yan's expression was strange, and after looking confused, he asked in surprise: "...... you Are you alright?"
Wu Zhilin raised his hand, pointed at Li Yan and said, "I'm not the leader of the Demon Hunting Alliance, he is!"
Li Yan looked at Tian Yuhua pouring tea for himself again, and smiled bitterly and admitted that he was not good at what he was saying.
"Little misunderstanding, small misunderstanding......" Edge beat the side drum in confusion next to it. The main reason is that he is worried that the loan will not be successful, after all, 1.05 billion yuan is an astronomical amount for him, and it is of course a great benefit to be able to borrow it. At this point, he couldn't wait to get the money. He didn't care about the cost or not, he instinctively drove this to get this money himself!