Chapter 376 - 2002 GCA Annual Report (Part II)

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"Boss, Tianhong Group's EPS (earnings per share) has increased by 19.4% in the past two years. Return on equity is over 18%. Both capital surpluses and profit margins performed well. But the market reaction didn't show much of an increase, and I thought it was a cigarette butt stock. Therefore, the investment weight has been decisively increased. But...!"

"But I didn't expect that in 2002, Tianhong Group's pump business fell sharply, and its market share in Southeast Asia fell by 35%, so that its stock price fell sharply when it was listed in Singapore, right?"

"Yes!"

"You also have a master's degree in financial engineering from the University of Hong Kong, so you should understand that EPS, ROE (return on equity), shareholder earnings and other indicators to measure whether stocks are worth investing in are all relative. Companies like Tianhong Group spend a lot of capital every year on equipment depreciation, wear and tear, and amortization, buy new equipment and plant improvements, and make technology investments to ensure its market competitiveness. ”

"But in the past two years, Tianhong Group has equated his capital expenditure with depreciation, and has not carried out equipment upgrades and replacements at all, and the result of this is that the indicators you see such as EPS, ROE, shareholder earnings, profitability and cash flow have increased. The company's books are beautiful. But in fact, the market competitiveness of Tianhong Group has declined. Why didn't you find that? Or do you have an investment system that is only based on a company's financial statements and never takes into account its operations and strategic planning?"

"Sorry, boss. I'm just so anxious to make a performance that I ignore the possible risks! But rest assured, there will never be a next time. ”

"Remember your words. We need to be cautious in our investments, and any small mistake can cause us unnecessary heavy losses. ”

"Yes!"

"Given that you're the first time, I can forgive you this time. But the mistakes you make do not go unpunished. This time, GCA's prize money is not yours. ”

"Thank you, boss!"

While Li Man was distressed, he was also relieved. Although I was embarrassed to be criticized in public, I was able to keep my job.

"No. 7 fund manager Zhao Chunyang!"

"Boss!"

A middle-aged woman of about thirty-six or seventeen years old, dressed in a women's suit and with short ear-length hair, stood up.

"Fund Seven that you manage is doing well. It has the highest increase among the 11 funds under the GCA Fund. Therefore, I personally approve that on the basis of the original bonus of the GCA Fund, an additional bonus of 200,000 yuan will be added to you and 300,000 yuan will be awarded to your team. ”

"Thank you, boss!"

Guo Shouyun nodded, "If you can keep your fund at the same level for three years, you and your team will be able to get the option award from the head office." ”

"Really?"

Zhao Chunyang said in surprise.

Hanhua's strength and rapid development speed are naturally best known to her as an insider. If you can get the option, it will definitely be an unimaginable sky-high reward.

"Of course!"

"Boss, I'll work hard!"

Looking at her determined eyes, Guo Shouyun smiled and nodded, and then waved her to sit down. Then, a majestic look quickly swept over the expectant crowd.

"Meritorious service will be rewarded, and there will be punishment!" has always been the concept that I have adhered to since I started my business, and it will be strictly implemented in the future. Therefore, if you want to succeed in GCA, then work hard, and I will not treat anyone who creates performance for the company. Bonuses, even options, I don't skimp. ”

"Whoa...!"

Loud applause rang out in the room. Most of the people here are young people, or middle-aged people who have just passed their prime. Promises that can be seen and felt are the most likely to trigger their ambitions. Moreover, the fast-growing Hanhua, the legendary boss, can also give them strong confidence in the company's future.

"Next, Hanhua Securities!"

After pressing down with both hands to make the conference room quiet again, Guo Shouyun continued.

As he spoke, a middle-aged man wearing gold-rimmed glasses and a dark blue suit nodded slightly, and picked up the document on his desk.

"Chairman, Mr. Zhang and colleagues. Since its establishment in mid-2001, after one and a half years of development, GCA Securities now has 11 branches in Hong Kong, Modu, Pengcheng, Singapore, Tokyo, Kuala Lumpur, Jakarta, Yangcheng, Beijing, Bangkok, Taipei and Rongcheng, with 674,000 registered customers and 21.7 billion Chinese yuan in assets under management. Since its establishment, it has participated in the listing underwriting of 37 companies and the securities sales of 51 companies. and Thailand, Indonesia, and Myanmar, underwriting treasury bonds worth 4.8 billion Chinese dollars. In 2002, the total revenue was 2.74 billion Chinese dollars, and the net profit was 197 million Chinese dollars. ”

"In the next three years, we at GCA Securities are confident that the number of clients and the scale of assets under management will increase by 1.5 times. Total revenue and total profit will be doubled! and a securities trading network that can cover major cities in East and Southeast Asia will be initially built. As the CEO of Hanhua Securities, Chen Dong said confidently.

Guo Shouyun nodded, "Hanhua Securities can have the current scale, you are indeed indispensable." However, in the past year or so, the head office has invested 1.8 billion Huaxia dollars in Hanhua Securities to acquire 7 similar companies of all sizes. Do you need the continued support of the head office in your three-year plan?"

"This...!"

Looking at the big boss's deep eyes, Chen Dong wanted to say that he needed it. But the inexplicable pressure made him a little unable to open his mouth. After gritting his teeth, Chen Dong said in a deep voice: "No need!"

Guo Shouyun smiled faintly, "Not bad." If, after three years, you have really achieved what you just wanted. I will give you 50,000 options for Hanhua Group. ”

Chen Dong's eyes quickly lit up, this reward was too tempting. As a senior executive, he knew that although Hanhua Group had not yet been listed, when giving high-level option awards, it was calculated according to the total share capital of 100 million, and 50,000 shares were equivalent to 0.5 thousandths. According to the total estimate of $3 billion given by the outside world for GCA Group, one thousandth is $1.5 million. And that's the lowest assessment right now. Three years from now, those 50,000 options will definitely be worth more than they are now.

"The same is true for the presidents of your other companies, as long as you can achieve 2 times the growth after three years without the support of the head office, and the 50,000 original stock option award will also have your share. Looking at the jubilant crowd, Guo Shouyun continued, "Don't be too happy too early, what I want to grow up is healthy growth." If I find out that any of your companies dare to rush for quick success, or engage in some crooked ways. If it's small, the reward will be canceled, and if it's big, if it violates the law, I won't cover it up!"

After a pause, he left it for them to digest, "Jin Rong, CEO of Hanhua Bank, it's your next turn!"

Jin Rong, who was wearing a brown suit, nodded, picked up the information that had been prepared a long time ago, and said: "As the latest subsidiary of the group, Hanhua Bank currently has 137 branches in Hong Kong, the mainland, Taiwan, Japan, Southeast Asia and other places, 2.84 million customers, accumulated deposits of 18.74 billion Huaxia dollars, loans of 21.3 billion Huaxia yuan, Tier 1 capital adequacy ratio of 13.7%, bad debt ratio of 2.9%. In 2002, the total revenue of GCA was 1.84 billion Chinese dollars, and the net profit was 213 million Chinese dollars. The next three years...!"

Guo Shouyun interrupted him with a wave of his hand, "In the next three years, the group will tilt the capital of Hanhua Bank. So your business development strategy needs to be redone. Of course, Mr. Zhang participated on behalf of the headquarters. ”

"Understood!" After a moment's hesitation, Jin Rong nodded.

Looking at his expression, Guo Shouyun could also guess what he was thinking.

"The part about option awards will be based on your performance over the next three years. If you do well, I won't skimp on rewards!"

"Yes!"

After answering, Jin Rong breathed a sigh of relief.

Glancing at him, Guo Shouyun's gaze quickly swept over everyone, "Although I grew up in the United States, my adoptive father has always taught me his traditional Chinese culture. Just like my current fluency in Mandarin, that's part of education. So I also understand the humble character of the Chinese people, as well as the cautiousness and lack of expression when it comes to money and job issues. ”

"But I would like to warn you: be brave enough to fight for what you deserve. You should get as much work as you do, and what value you have, you should get benefits that are in line with that value. There is nothing to say about the same amount of effort and the same amount of return. I don't care about other companies, but in my case, I won't give a point less than yours. If you shouldn't be yours, I won't give you more. ”

"Whoa...!"

Thunderous applause suddenly rang out, and it was even more enthusiastic than the previous two. Guo Shouyun's theory of equal value and return is too rare in the era of commercial barbarism in China at the beginning of the 21st century.

At this time, Huaxia had just gotten rid of the GC way of thinking, but the old ideas of 'sacrifice', 'dedication', and 'big pot rice' had still not been completely eradicated. Even Hong Kong, which has a more commercial atmosphere, still has a strong cultural tradition of Confucian modesty and prudence. Of course, this is not wrong, but sometimes people will be afraid to express themselves and fight for their legitimate interests when facing their superiors.

"Be quiet!" Guo Shouyun pressed his hand, and after a pause in applause, "It seems that everyone is deeply touched by what I just said, and that's good." In the future, if you feel that your superiors have not given you a reasonable position and salary return, then you can find Mr. Zhang, and if Mr. Zhang can't solve it, you can send me an email. My email address has been posted on the company's internal website, as you all know. Of course, if you don't live up to your name, I will never keep mediocre people here to eat. ”

"Okay, for the sake of time, let's gossip less. Guo Zhen of Hanhua Capital, it's your next turn!"

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