When Yun Ling asked Li Yan if he wanted to hear it, Li Yan subconsciously raised his head and grinned at Yun Ling and muttered, "Of course I want to ......"

"Okay, let's settle the score. Pen Fun Pavilion www.biquge.info I will think that I am the CEO of Moutai Group, if I really want to get Moutai's equity back now, what will I do?" Yun Ling smiled at Li Yan with a warm face and asked, without waiting for Li Yan to answer himself.

I heard Yun Ling continue: "I will let the joint-stock company ...... at the price of three hundred Of course, some of the prices have been higher recently, so let's just say what it means!" After explaining, Yun Ling continued: "It is not difficult to repurchase all the 400 million shares held by the public at a price of 300 and then delist them! Pay attention to how much cash flow Moutai has on the statement in your hand!"

After Li Yan hummed, he subconsciously looked down at the annual financial report of Moutai in his hand.

"Two hundred...... 100 million! Moutai naturally has so many books!" Li Yan didn't pay attention to Moutai's cash flow at first, but only after listening to Yun Ling's words did he pay attention to the cash flow.

When he saw this number, Li Yan couldn't even imagine how thick Moutai's thighs were, what kind of "trench" would it have to be to throw 20 billion funds in the account and lie on his stomach?

Just when Li Yan sighed at the Moutai tyrants, Yun Ling continued to take care of himself: "The cash is more than 20 billion, and the value of inventory is more than 260 billion. Don't ask me why I know, you know that the party secretary of Moutai went to Beixinqiao with me two days ago to eat a bowl of stew. The sum of these two items is already 28,000,000,000,000,000,000,000,000,000,000 If you add the land and plant equipment owned by Moutai and the intangible trademark group assets. Even if we have a three-fold discount, we should be at the level of 100 billion, right? According to the interest rate of more than five years of 5 percent. Let's raise it by 10 percent, and count it as 6 percent! If Moutai wants to take out a loan, I estimate that all the banks in China with this strength will come to Moutai to patronize it!"

After listening to Yun Ling's words, Li Yan subconsciously nodded and said, "Moutai...... It should be no problem to flop the cards and feel the king's landing. ”

The corners of Yun Ling's mouth curled, and then said: "Let's just say that Moutai's performance will not grow in the future, selling 30 billion liquor every year, and 22 billion operating profits." After changing the bank's interest of 7.2 billion yuan, there will still be a net profit of more than 11 billion yuan after paying income tax, right? Under the premise of zero growth, seven years will be enough to pay off the principal and interest of all loans. In the future, it is not necessary to make profits every year? In this way, there is no need to look at the face of the capital market. What's more important is what I just said, the whole process of Moutai doesn't even cost a penny! If you consider that there can be a little increase every year, or if the repayment ratio is increased, it will take less time. ”

"Huh......" After listening to Yun Ling's words, Li Yan subconsciously spit out the turbidity in his heart, shook his head at Yun Ling and muttered in a low voice: "I don't understand, this market was originally here to collect money for financing, why does such a rich Moutai have to go to the secondary market to toss? Isn't this uncomfortable for themselves? What are they here for?"

Yun Ling suddenly smiled, and saw him turn his head and say lightly at Li Yan: "Let's not mention what it is for, anyway, Moutai is a model of state-owned capital selling high-quality equity." But you should also understand that no one wants to give the money they earn to others to spend, right? So even if Moutai is reluctant to return some blood, there is nothing to blame, right?"

Li Yan nodded, and hurriedly recorded his experience into his laptop.

And Yun Ling frowned after subconsciously glancing at the time when Li Yan was immersed in typing on the keyboard, the original "teaching" time was about to come, and because he wanted Li Yan to master more things, the content of the lecture was really divergent.

Yun Ling, who raised the speed of speaking, continued without waiting for Li Yan to finish his entry: "Let's talk about the key points of this financial report." At present, there are thousands of listed companies in Shanghai and Shenzhen, but only about two-thirds of the accounting firms have marked the audit report with a "standard unqualified opinion" in the research report. Li Yan, you remember, as a handicraft, if you don't have this standard phrase in the financial report you read, you can directly throw the company's financial report into the trash. If you are involved in the operation of the concept, the news, the prospective company really does not need to anesthetize itself with a fake financial report. ”

After listening to Yun Ling's words, Li Yan instantly thought of a sentence: The old driver drives, come quickly! When he really got into the car, he found that he had gotten into a black car......

Yun Ling glanced at Li Yan, who was thoughtful, and said with a smile: "The accounting firm takes the money from the listed company. There are always some problems when there are close to 10,000 accounting firms on the market, but less than 100 have securities licenses. This figure can even be understood by yourself as halving. When these licensed accounting firms are faced with thousands of listed companies, who is willing to use their own jobs to cooperate with the listed companies to play too many tricks? Even if they are ordinary and small, when they are really on the verge of a high-voltage line, these accountants will also consider a question, that is, if they are exposed, can they take themselves out?

Li Yan, who looked at Yun Ling, subconsciously pointed his finger at Yun Ling and muttered tentatively, "That...... Doesn't it begin with the statement of the company's board of directors and the senior management of the board of supervisors that the contents of the annual report are true, accurate, and complete, and that there are no false records, statements, or major omissions, and that they bear individual and joint legal liability?

After Li Yan asked this sentence, before he could throw out the real question in his heart, he heard Yun Ling say to himself with a smile: "These two sentences themselves are clichés, and they are even more false. How many companies in listed companies are suspected of fraud, but the one who finally bears legal responsibility because the content is untrue, inaccurate, and incomplete......?

After a mocking laugh, Yun Ling poked Moutai's annual report with his hand and said: "What you need to pay attention to is the audit results given by the accounting firm!

Li Yan was stunned for a moment, and then heard Yun Ling say: "The meaning of each sentence is different, for example, accountants generally give five kinds of suggestions, the first is the best: the accountant issues an opinion, which basically indicates the true meaning of the accountant." ”

Li Yan, who nodded, sighed in his heart: What are the other four sentences written separately?