The listed company issued additional shares to Zhongxin for the acquisition of the equity of Meigang No. 1 and No. 2 factories held by Zhongxin, with a lock-up period of up to 24 months.

During the lock-up period, this part of the shares is prohibited from being publicly reduced in the securities market, but part or all of the shares can be transferred to other investment institutions in the form of equity transactions.

Sun Yalin wants to transfer this part of the additional shares to cash out and prepare start-up funds for the Xinpu refining and chemical project, so she must start looking for institutions willing to take over.

The next day, Shen Huai first summoned Song Hongjun, Wang Kangqiao, Qian Wenhui, Shao Zheng and others in Xucheng to discuss the matter.

Song Hongjun and they all felt that Sun Yalin was too bad to package and transfer the additional shares held by Zhongxin at this time.

The Shanghai Composite Index surged from 600 points at the beginning of the year to more than 1,300 points at the end of the year, and the daily trading volume of the two cities crossed the three major marks of 10 billion, 20 billion, and 30 billion yuan within a year.

In the context of the current securities market, the price-earnings ratio of domestic listed iron and steel enterprises once rose to 16 times.

The net profit of Meigang Group in 96 years exceeded 500 million yuan, of which the net profit attributable to Meigang No. 1 and No. 2 factories was 380 million.

With a price-earnings ratio of 16 times, the market value of the assets that Meigang will be classified as a listed company can theoretically reach 6 billion.

Of course, it is impossible for the local securities institutions and securities regulatory departments in Xucheng City to accept such a high market value assessment of Meigang No. 1 and No. 2 Factories. As a result of the final negotiations, the market value of Meigang No. 1 and No. 2 factories was only calculated at more than 2.6 billion, and the price-earnings ratio was less than 7 times.

This is also a key factor in the willingness of local securities institutions in Xucheng City to spend more than 300 million yuan in cash to participate in additional issuances and actively promote backdoor reorganization.

Even if there will be a lock-up period of up to 24 months for the additional issuance of shares, as long as the drama of the additional issuance and reorganization is sung, the outstanding shares of listed companies previously held by the local securities institutions in Xucheng City will further increase in value significantly, and it will be easy to reach a high level of 6 yuan per share.

There is a 24-month lock-up period for the additional tradable shares held by Zhongxin, and at this time, it will be resold as a whole, with a 5% discount, and it will be transferred out at a price of 3 yuan per share, which will be thankful. Moreover, domestic securities investors have a strong speculative atmosphere, and most of them will not be willing to take over stocks with such a long lock-up period, and can only find buyers from overseas.

Fortunately, Zhongxin is a foreign stock, which also provides a roundabout channel for foreign capital to enter the domestic securities market. However, if foreign investors want to directly enter the domestic securities market, the approval process will be extremely complicated.

In 93, SITC joined forces with Evergreen Group, and only approved a quota of 20 million US dollars.

Of course, if Sun Yalin is purely cashing out, it will be nothing.

Zhongxin went to Meigang No. 1 and No. 2 factories to invest a total of 20 million US dollars, almost all of which were Sun Yalin's personal assets. Even if Shen Shan provided $10 million in bond financing to Zhongxin, Sun Yalin did so in his own name.

Even if Zhongxin clears all the additional shares in its hands, it will indirectly hold about 40 million shares of the listed company through Meigang Group, and Sun Yalin will personally cash out 500 million yuan, which is almost the net return of the investment in the past three years.

Even if you can't cash out at the highest point, you can cash out an investment return of 500 million, which may prove how successful the industrial equity investment in Meigang has been in the past three years.

It's just that Sun Yalin took out 500 million funds and invested desperately in the launch of the Xinpu refining and chemical project, and her boldness still scared Song Hongjun.

"You trust Shen Huai so much, aren't you afraid that he will make you miserable all of a sudden?" Song Hongjun asked.

Shen Huai kicked the chair that Song Hongjun was sitting on and asked, "How do you speak? What is the miserable pit, I pulled you to invest in Meigang, is there a miserable pit? You were bolder and more daring at the beginning, and the pace was bigger, do you need to see Sun Yalin's face at this time?"

Everyone laughed.

Although Song Hongjun also participated in the investment of Meigang No. 2 Factory, although he was able to mobilize more funds than Sun Yalin at that time, his actions were much more conservative than Sun Yalin's actions at that time, so that in the end, his rights and interests in Meigang No. 1 and No. 2 Factories were only about one-third of Sun Yalin's.

After the successful reorganization and issuance, Song Hongjun's personal assets will also increase to 500 million, and it can be said that he is a rare figure in the domestic rich circle, but Sun Yalin suddenly surpassed him.

Sun Yalin has often used this matter to stimulate Song Hongjun these days.

Song Hongjun shook his head and said: "This mother-in-law is so ruthless in her work, she can't learn it, and she doesn't dare to learn it." Besides, she lost cleanly, she still has hundreds of millions of family properties waiting for her to inherit, who am I going to cry to?"

"What, do you want to shrink your head again?" Sun Yalin asked provocatively, "Why don't you take out 200 million yuan, don't be completely unable to raise your head in front of me in two years." ”

"Now Hong Kong is really not optimistic about the mainland's refining and chemical industry, I estimate that Hongji can make up 100 million yuan first. No matter how excited Song Hongjun was, he just didn't let go.

"Okay, when will the refining project be launched in Xinpu, you will have to prepare this 100 million......" Shen Huai said.

Previously, Zhongxin and Hongtou planned to participate in the investment of the Xinpu refining and chemical project in the form of an industrial equity investment fund.

In this kind of equity fund, Sun Yalin and Song Hongjun only need to invest 20% of their own funds, and the rest of the shares are raised from Hong Kong, Paris, and Chinese business circles for joint investment.

For Sun Yalin and Song Hongjun, the risks they bear are controllable.

Even if the total investment in the project reaches 200 million, Song Hongjun's personal investment will only be 40 million, and he will personally put 40 million into it if he loses it; and once the investment has a high return, they can also get additional management dividends.

At present, the Chinese business circles in Hong Kong, London, and Paris are afraid of the high risks of investment in the refining and chemical industry, and are unwilling to enter the market; if Song Hongjun still agrees to invest 200 million yuan, then he will have to make a big contribution himself, and the risk will surge.

Song Hongjun and Sun Yalin, his net worth has been hard work over the years, and at this time, he can promise to take 100 million yuan to participate in the launch of the project, and Shen Huai is not dissatisfied.

There is still a final approval process to go through for the backdoor reorganization, and Qian Wenhui will lead people to enter Xucheng refining on behalf of Meigang.

In addition to guarding against the possibility that some people in Xucheng may be restless and engage in some small actions of asset transfer, the preparatory work for the construction of the Zhunan refining and chemical base was also immediately launched, and the finalization of the design plan and the negotiation of the bidding plan can be carried out first, and the construction of the Zhunan refining and chemical base will be quickly started after the Spring Festival after the review of the backdoor reorganization plan.

Jiang Kangsheng and the others left Xucheng in the morning, and Shen Huai and Sun Yalin had to meet Yao Ronghua and have lunch together.

There is really no good news on Yao Ronghua's side, and the fact that the bank does not shrink its credit supply in Donghua is already the result of the provincial bank's efforts, but there is no possibility of a significant increase in a short period of time, and the previous Xinpu REIT plan is also bound to be aborted, and there is no possibility of implementation.

"The State Council has issued a policy requiring some prefecture-level cities to set up urban commercial banks on the basis of urban credit cooperatives, and at the same time stop the approval of new urban credit cooperatives," Yao Ronghua also put forward his suggestions for Xinpu's next financing work, "Donghua City Credit Cooperatives have accumulated a large amount of bad credit, which is inferior assets from the banking industry, but this is also the only financial license for regional commercial banks in Donghua that can be mastered." With the development of Donghua's economy, Donghua City Commercial Bank still has great potential for development......"

"The City Credit Society has accumulated a lot of bad debts, and no one wants to take this rotten plate," Shen Huai pouted and said with a wry smile, "But if you want to form a city commercial bank, can you give me Zhang Lisheng?"

"It is difficult for the industry to directly adhere to the construction of Xinpu in a short period of time. However, Meigang wants to revitalize the city commercial bank in Donghua, and Yexin may participate appropriately, as long as the shareholding does not exceed 30%, it is best to control about 20%, which is more appropriate, and I can still call the shots. Zhang Lisheng is over there, and he wants you to do his work. Yao Ronghua said with a smile.

Shen Huai laughed and said, "It's not that there is no good news on your side......

Now the total loan plate of Donghua City Credit Union is only five or six billion, even if so much credit is rotten, even if it is only for Donghua's only financial license, it is worth fighting for.

However, the rectification and management of commercial banks can only be possible with the manpower support of the Bank.

Yao Ronghua agreed to let the tension rise, and will also promote the participation of Yexin Bank in the establishment of Donghua City Commercial Bank, which is also a strong support.

"I went back to Yanjing for a meeting this time, and Mr. Shen also flew over from Paris," Yao Ronghua said, "After taking the plane for so long, Mr. Shen is in good spirits, but it's a pity that he stayed in China for too short, otherwise he could go to Meixi to have a look......

Shen Huai nodded silently, if it weren't for the sinister situation on Mei Gang's side, it would be impossible for his grandfather Shen Shan to run out of Paris at such an old age. I can't stay in the country for too long, also because I am not feeling well.

Although his grandfather Shen Shan has completely retired, as one of the veterans of Evergreen Group who participated in the founding of Evergreen Group, he has also served as a supervisor of the head office for many years, and his influence within Yetin Bank cannot be ignored.

When Yao Ronghua lived in France in his early years, he was in the financial institution in which Evergreen Group was a shareholder, and his grandfather Shen Shan recommended him to enter the bank.

Shen Huai sometimes can't help but sigh that no matter how much "he" betrayed his relatives before, there are still so many people behind him who are worried about him.

When he came back from Yao Ronghua's side, Shen Huai immediately called Xiong Wenbin to talk about the City Commercial Bank.

Previously, Donghua's urban credit union was mainly funded by municipal state-owned enterprises, and the former Shigang and Tianshenggang Power Plant were nominally the major shareholders of the urban credit union. The city steel was reorganized, the Tianshenggang power plant was taken over by Huaineng, and its shareholding in the city credit union was also divested and taken over by the city.

Shen Huai discussed with Xiong Wenbin that the Meigang system can make the greatest concessions in the restructuring of other city-owned enterprises, but it is necessary to insist that the equity of the city's and the city's state-owned enterprises in the city's cooperative can be taken over by Donghua Jingtou, and then join the Yexin Bank and the Meigang enterprises to inject capital together to form the Donghua City Commercial Bank; regardless of the previous bad debts, first hold the only financial license in Donghua in their hands.