Chapter 18 Porcelain Turmoil
"Be famous as soon as possible!"
The words of Zhang Ailing, a socialite in the Republic of China, have become the creed of many people in today's increasingly accelerated pace and rapid changes in knowledge.
The "Lang Gu Controversy" made returnee scholar Lang Xianping completely angry, and he stood up to criticize MBO as if he were righteous, winning the support of a large number of people. Especially when Gu Chujun, the opponent of the debate, was sent to prison by the local government, his popularity reached a higher level, and various interviews were overwhelming.
This 50-year-old middle-aged man, after a bumpy exile from Taiwan, the United States, and Hong Kong, finally found his life stage in Chinese mainland. Focusing on corporate finance, he began to move closer to the mainstream economics community, frequently expressed his views on various economic issues, and became a new generation of Internet celebrities with his excellent eloquence.
Looking back on the first half of his life, Lang Xianping, who had gray hair, had a heartfelt understanding of "becoming famous as soon as possible", and after feeling that he could not become famous as soon as possible, Lao Ji began to regain his former glory on the big stage of Chinese mainland.
single-handedly pulled Gu Chujun off the horse, and also received countless flowers and applause, which made Lang Xianping can't help but be proud of seeing Chang'an City for a while. When his opponent Gu Chujun was desperately appealing for himself in prison, Lang Xianping began to enjoy the good pattern of love and workplace.
In fact, Gu Chujun was shot and dismounted, and the "Lang-Gu dispute" was just an introduction, and the real essence was that he did not properly handle the new local political and business relations. Every time the local leader changes in China, it will trigger a new round of reshuffle in the local political and business relationship, and Gu Chujun, who is too arrogant, is one of the unlucky eggs.
When he became the owner of Kelon, the star enterprise Kelon had already been hollowed out by the local government, and it was financially burdened with a big hole of more than one billion. Why was Gu Chujun, who was unknown at that time, able to turn out to be born and take Kelong, there must be an ulterior secret behind the abnormal facts, because he reached a tacit agreement with the local government not to pursue the past. It's just that this tacit balance was broken after the change of local government, and Gu Chujun was finally planted in a new political and business whirlpool.
Even in the Pearl River Delta, which is considered to be at the forefront of China's reform and opening up, the heads of Jianlibao and Kelon have been convicted of mishandling their relations with local officials, in stark contrast to the Yangtze River Delta, another major economic engine in China.
Back to the present, Lang Xianping found the value of his life in frequent exposure, and in order to maintain his popularity, he had to find the next "Gu Chujun" as a target to preach for himself.
In addition to receiving all kinds of praise, the complacent Lang Xianping set his sights on the hottest richest man Han Hao, a new generation of entrepreneurs who have frequently shot this year, attacking everywhere and swallowing many state-owned enterprise resources with high leverage.
He began to deviate from the right track of his financial expert, and began to comment on various domestic economic phenomena at the macroeconomic level, like a combination of Chinese and Western economists.
"Zhonghua Group: The fat giant born in the grand feast of national retreat and democratic advancement!"
In an episode of his cooperation with the TV station, Lang Xianping regarded Han Hao and Zhonghua Group as a new stepping stone, believing that the other party took advantage of the tide of national retreat and democratic advancement, and frequently acquired with high leverage beyond the ability to bear, which was essentially digging into the corner of the country.
"The money I got from the bank came back to the bank after a big circle, and behind it was the successful transfer of the equity of state-owned enterprises into individuals, and the state-owned banks were actually burdened with a large number of bad debts. ”
"The financial leverage ratio of Zhonghua Group is too high, and the actual controller Han Hao has mortgaged most of the equity to the bank, which leads to huge hidden dangers in the security of the company's capital chain. They have acquired a large number of companies, and once they have indigestion, they will trigger the risk of debt default, and they will pull the banks to die together. ”
……
Lang Xianping, who is famous for the loss of state-owned assets, knows very well what his audience wants to hear, and he once again aimed his guns at the Zhonghua Group, the largest private enterprise in China, in the sensitive field of the loss of state-owned assets.
Sure enough, the show caused a sensation that night, and the stock price of the holding company of the Zhonghua Group fluctuated at the opening of the market the next day, especially the public opinion crisis against Han Hao and even the Zhonghua Group.
"The operation of Zhonghua Group is normal, all business activities comply with domestic and international laws and regulations, and all sectors of society are welcome to supervise the business activities of the enterprise. ”
In response to Lang Xianping's questioning, the Zhonghua Group only issued a statement without pain, and did not start a new round of debate with the other party.
Before the "Lang Gu Controversy", Lang Xianping had aimed his guns at the two major benchmarks of domestic private enterprises: Haier and Lenovo. It's just that after his shells went out, the other party didn't pay attention to them, and the incident didn't cause much splash. Only when he turned the gun to Gu Chujun's Greencore, he inadvertently detonated this explosive keg.
It takes years to build a house, but destroying a house can happen overnight. The Chunghwa Group, which has always enjoyed a positive image in China, has long established a complete response mechanism after many public opinion crises in the past two years.
is not afraid of shadows, Han Hao thinks that his business operations are under the sun, and he is not afraid of others turning over old accounts. However, the destructive power of the "wolf whirlwind" caused by Lang Xianping cannot be underestimated, and after the show came out that night, he immediately summoned people to discuss countermeasures.
Unlike Gu Chujun, who is good at fiddling with financial skills, Han Hao is an upright conspiracy every time he makes a move, and the heavy sword has no edge but the road is bright. In addition, the biggest difference between the two is that Gu Chujun has no money, while Han Hao has money and can find money from many channels.
As a growth-oriented entity, Zhonghua Group does have a high debt ratio, and in just one year, the company's liabilities have soared from more than 50 billion to more than 90 billion, but the total assets have exceeded more than 120 billion, and the current liabilities are basically the same as the total cash in the hands of the company, which is within the controllable range of financial risks. In terms of bank credit, there are still 8 billion yuan of funds that have not been used, and it is expected that the overall income of the group will reach 130 billion yuan in 2005, which is enough to resist the risk of capital chain rupture caused by high debt.
The short-term explosion of liabilities is mainly used in three major aspects. 40% of the investment will be spent on the construction of a new automobile base, such as a new plant in Wujiang City, a joint venture plant in India, and a plant in Iran. 30% is invested in R&D, and many new models and projects such as engines, ATs, and new energy vehicles are launched. The remaining 30% was used by Han Hao for corporate mergers and acquisitions, annexing Yaxing and Hunan Torch to open up the industrial chain, eating up Internet companies such as Sina and Autohome, and setting up two new investment funds, all of which occupied a lot of funds.
In response to Lang Xianping's questioning of the group's finances in the TV program, Yin Qingxun and others criticized them one by one, and the other party gave a lot of specious data. Although many of the data are publicly disclosed by Chung Wah Group, some key data is deliberately hidden or grafted.
For example, Lang Xianping said that Zhonghua Group has increased its liabilities by more than 40 billion yuan in a year, and its total liabilities have soared to more than 90 billion yuan, and according to Zhonghua Group's profit of 9.1 billion yuan last year, it will take at least 10 years to tighten its belts without counting R&D and marketing investment. But in fact, he did not list that the assets of the China Group have increased to 130 billion yuan, and it is capable of bearing such a high scale of debt.
In the tide of mergers and acquisitions of the state and the people, Zhonghua Group did not deliberately collude with the local government to lower the assets of the acquired enterprises, but all of them were acquired through market-oriented bidding, and the quotations were one of the highest. Many assets are obtained by picking up leaks and saving the field, whether it is Yaxing or Hunan Torch, they are all second auctions, and Yuchai is invited by the local government on its own initiative, and does not take advantage of the country to dig into the corner. The acquired assets are all related to the main business of Zhonghua Group, which belongs to the strategic layout of opening up the industrial chain normally.
As for the accusation that the so-called use of state-owned bank money to buy state-owned enterprises and turn state-owned assets into their own private enterprises is also a play on words. This is just the normal business behavior of the enterprise, Zhonghua Group is a high-quality customer, and the bank is willing to lend to Han Hao. Han Hao used this money to carry out normal corporate mergers and acquisitions, and he was burdened with the risk of a huge loan contract, and he also repaid the principal and interest on time. Three-year-olds know that borrowing money has to be repaid, and the money goes around and goes back to the bank, but the resources are reallocated under the market mechanism.
Fortunately, the Zhonghua Group responded appropriately, and Lang Xianping's doubts only fermented in public opinion, and the stock market recovered after a slight turmoil.
However, the legal team of Zhonghua Group sent a lawyer's letter to Lang Xianping, which responded in detail to his various questions in the program, listed the other party's text loopholes, and said that he would sue Professor Lang in court.
Han Hao had no interest in arguing with Lang Xianping in the media, and directly used legal means to solve the problem.
originally only planned to rub hot spots to enhance his image, anyway, in the name of academic discussion, he could reply to all kinds of questions with his incorruptible tongue, Lang Xianping deliberately left himself a little leeway in the show, and did not say anything to death. With the help of the aftermath of the "Lang Gu Dispute", he thought that Han Hao would definitely avoid the edge and respond to his bombardment with silence. Unexpectedly, things did not develop as I imagined, and I directly received a letter from the other party's lawyer and prepared to go to court.
This made Lang Xianping deeply anxious, and he knew very well that once he was on business, the words he said on the show would not stand up to scrutiny, because they were just the product of deliberately combining the things he liked to hear in order to cater to the public.
The act of scratching the lion in order to maintain its influence finally kicked to the iron plate and felt the majesty of the lion. Once you really go to court, your hard-working image may collapse, and everything you enjoy now will be in vain.
Lang Xianping was determined to do his best to save the mess caused by his hot-headedness, and he expressed his willingness to settle the dispute privately with the Zhonghua Group through various channels, and was unwilling to go to court against Bo.
After getting Han Hao's response that he agreed to meet, Lang Xianping took a plane to Jiangzhou to explain his actions in person, and also had the intention of going to the door to open up the net.
Han Hao originally thought that Lang Xianping was coming to the gym, but he didn't expect to come softly, but he still found time to meet the other party.
"I'm just trying to make some money, what are you really suing me for? Besides, a lawsuit wastes time, and it won't have a good impact on you and me! Otherwise, I'll do another episode of a program in a while to promote you positively and eliminate this negative impact. ”
When Han Hao asked people to show a lot of evidence to prove that he would lose in court, Lang Xianping said the above words helplessly.
Such a statement made Han Hao truly realize the true face of the so-called representative of the new generation of economists in front of him, he is a refined egoist.
Refined egoists are used to describe people who are highly intelligent, worldly, sophisticated, good at performing, know how to package, and are adept at using the resources of the system and public opinion to achieve their own ends. They are just a bunch of wall-to-wall grass and speculators, who fall to either side where the wind is strong.
Seeing this, Han Hao didn't bother to pay attention to Lang Xianping too much, and after agreeing not to sue the other party and send him away at his request and promising not to point fingers at the Zhonghua Group. ()
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