In the second acquisition plan proposed by Polestar Electronics, what impressed Li Anjian the most was not how much profit Jinling Panda could get, but the ability to get rid of the "loss tumor" of Panda Mobile.

But for Polestar, it's not that simple.

The intricate bad debts between Panda Mobile and its exclusive sales channel, Sujiang Tianchuang, and its licensing partner Yimei Communications, always have to be resolved, which is a headache.

Back at the hotel, Polestar's senior officials gathered to discuss a solution.

It was Xia Yu who spoke first: "The news we have gotten in the past few days is basically certain that Ma Zhiping will no longer show up to clean up the mess, so whether it is Tianchuang Company or Yimei Communication, they are all in a state of leaderlessness." ”

turned to Sun Bin on the side: "Sun Bin, you can inform me about the specific situation of these two companies." ”

"Okay!"

It was the first time for Sun Bin to participate in the discussion of this kind of important matter, and he was a little excited, he took out a document from the text and read: "Yimei Communication is on the verge of bankruptcy, in addition to the 181 million yuan of guaranteed payment owed to Panda Mobile, it also has a claim of 56.0514 million yuan in arrears and interest to the shareholder Shanghai Technology Company......

Su Jiang Tianchuang is even worse, in addition to the arrears of "Panda Mobile" reached 406 million yuan, in addition to 230 million bank loans, the guarantor is also Panda Mobile. ”

Liu Mingsheng wondered: "It is said that the sales of Panda mobile phones in the first half of this year were good, but is this Ma Zhiping hiding all the money he has freed up? This is too bold......

"No, he's going to speculate in stocks!"

Xia Yu smiled and told the hidden news that Xiang Ligang got from him: "Of course it's not a small fight. Since the beginning of 2003, Ma Zhiping has invested 840 million yuan in three listed companies, but it is not good to catch up with the market. When Panda Mobile was short of money, he shot one after another, but only cashed out 290 million. ”

"What a loser!"

"We don't care so much, we don't have this chance if he is undefeated", Xia Yu turned to Sun Bin and said, "Go on." Inform me about the assets section as well. ”

Sun Bin nodded and continued: "Well, according to the asset audit as of the end of December 2004, Yimei Communications has a total of 328 retail outlets and counters in Sujiang Province and its surroundings, as well as a small amount of office equipment and accounts receivable, with a total asset of more than 120 million yuan, and it is confirmed that it is insolvent, and the difference is more than 100 million yuan."

"Sujiang Tianchuang has more, 38 franchise stores, 69 franchise stores, 564 exclusive sales counters, and other parts of the total assets of more than 400 million. Of course. It is also insolvent, with a difference of nearly 230 million.

These figures surprised many people present.

Especially Xia Mingde, he couldn't help but ask the question that everyone was concerned about: "Xiaoyu, the accumulation of the debt gap between these two companies is more than 300 million! According to our second plan, wouldn't these 300 million be paid by Polestar?"

"Otherwise, someone would have already been eyeing Panda Mobile, a pretty good brand, how could it be Polestar's turn?"

Xia Mingde was still incomprehensible, and said hurriedly: "But this is too much of a loss, this is more than 300 million yuan! And we have our own channel system." It's useless to take over these two companies!"

"That's true, but it doesn't matter how much we suffer, it just depends on what we want. ”

Xia Yu shook his head and continued: "Polestar's foundation for entering the mobile phone field is still too thin, but Panda Mobile has quite good R&D strength and production lines. As for Yimei and Tianchuang. We can strip them off and sell them in a package, and those companies that care about Sujiang Province, a big Chinese mobile phone market, will not refuse. ”

These days, Xu Jiahui and Peng Wenshan have done nothing else, but they are focusing on the news and strength of Panda Mobile in R&D technology and production.

It turns out. The part of this company that was originally transferred from the core department of Jinling Panda is still quite powerful.

After receiving Xia Yu's signal, Xu Jiahui said first: "As far as I know." Panda Mobile currently has two production and assembly plants, with a total of 1,200 workers, many of whom are senior production managers from old state-owned enterprises, and the level is good. Oh yes, one of their two factories is in Wuxi City, and the other is in Pengcheng. ”

Peng Wenshang also reported: "Nanjing Panda's R&D team has a total of about 180 people, and the organizational structure is very perfect, especially in terms of system optimization, component adaptation and materials. ”

Xia Yu took over the conversation: "Jinling Panda wants to jump out of this trouble, and we have taken on the debts of two additional companies for them, is it that the valuation of Panda Electronics will drop somewhat?"

Sure enough, after listening to these reports, everyone understood what Xia Yu meant.

That's what I said at the beginning, in addition to the license, Polestar Electronics came for their technology and talent!

Today's Jinling Panda is mired in a huge debt black hole, and anyone who pays attention to it must first bear the burden of Yimei and Tianchuang, and this incident has not long passed, and the true value of Panda Mobile has not yet been completely discovered.

That's why Polestar's mention is so important to Li Anjian.

In the eyes of the leaders from state-owned enterprises, these so-called technical talents are nothing, they are used to it.

Otherwise, after a while, when they recover from it, I'm afraid there will be no chance.

You must know that since the Ministry of Information Industry will officially implement the mobile phone license approval system in March, the influx of mobile phone manufacturers has multiplied several times, and Panda Mobile will definitely be targeted by others.

Xia Yu saw that everyone's opinions were unified, and began to discuss their specific next steps.

Speaking of which, to acquire Panda Mobile, Sujiang Tianchuang and Yimei Communications together, Polestar Electronics estimates that it will take more than one billion dollars.

But if Panda Mobile is willing to "cut the price" and find a suitable next home for the other two trading companies with okay assets, Polestar will only need the valuation of Panda Mobile after the price reduction and 330 million excess debt.

Xia Yu estimated that it would only take 600 to 700 million yuan to win it in the end.

It's also high, but Polestar can afford it, and it's worth it. Because his personal valuation of Panda Mobile is more than 800 million.

These intricate news, if there is no Xiang Ligang's early information, as well as the various news they tried to find out in the later stage, it is difficult to sort out the clue.

This also made Xia Yu truly appreciate the importance of business intelligence in the mall, and wondered whether to set up such a department in the future and find some senior investigative reporters and analysts to operate.

The seminar was very productive. Finally, it's time to assign tasks.

Among them, Xu Jiahui and Peng Wenshan continue to contact with their respective areas to prevent them from quietly transferring value assets before the acquisition plan is reached, which is indeed to be guarded against;

Liu Mingsheng, Xia Mingde and Wang Hailong will start to contact related companies to find buyers for Yimei and Tianchuang. In addition, they will also lead the accompanying financial and legal affairs to come up with a more detailed acquisition plan based on what is discussed today, and wait for the second round of negotiations to be formally proposed in three days.

And Xia Yu himself decided to talk to Hua Yongqing again.

……

Of course, Hua Yongqing has also gotten news in the past two days, and some people are asking about Panda Mobile and Tianchuang through various channels. And this person is the young man who came to the door before, Xia Yu.

And Ma Zhiping's concealment made some people in Tianchuang finally unable to sit still. They took the initiative to come to him to discuss countermeasures.

What's negotiable?

Tianchuang is just a little channel value, and it is still insolvent, but it is just a sale. It is mainly the shareholders who are affected, and these "commanders" from all walks of life will not be affected too much.

He even got the inside story of Polestar's plan to negotiate with Li Anjian, of course, it was not complete, but he also had ideas. Among them, Polestar Electronics' approach made him a little confused.

Look at the meaning, is it actually a full acceptance?

How could anyone be so stupid?

bypassed Zhou Zhenhua and directly contacted Li Anjian. Shouldn't it be to follow Ma Zhihua's path back then, colluding with power and money, and continuing to hollow out the value of Panda Electronics?

He couldn't figure it out, but that didn't mean he didn't pay attention to it. I still have a 15% stake in Tianchuang, and there are a bunch of old brothers.

And he finally found out the situation of Polestar Electronics in detail in the past few days. It turned out to be a big surprise to him.

Proficient in marketing strategy and industry analysis, he soon discovered that Polestar's retail partner channel was an impossible task!

If the manufacturer's self-built channel is so simple, what does Tianchuang want this kind of channel company to do!

Only by ensuring that every product is absolutely best-selling, even hot to the out-of-stock level. In order to support the support of one partner in each city. At the same time, the after-sales problems that these retail stores are unable to solve can only be sustained by Polestar's "unconditional return and exchange" gameplay.

This model makes him, an old man who has worked hard in the mobile phone channel market for many years, unbelievable. But after careful analysis, it was shocking.

Looking at Polestar's products, K1, K2 and even the high-end S1, sure enough, each one is not a bestseller, and there is even a rare queue to buy!

It's unbelievable.

After learning through a few in-depth reports, these things are all written by Xia Yu, and his thinking has changed greatly.

When Xia Yu's call came again, he naturally did not refuse.

It's still the same place, the same tea, but the mentality of tea drinkers has changed.

This time, the two of them were not very polite, so they sat firmly, and Hua Yongqing couldn't help but directly ask the biggest question in his heart.

"Mr. Xia, there is something I can't figure out. Even if Polestar Electronics wants to make a mobile phone, buy a license and find a solution company to OEM, with Polestar's current brand influence, marketing and channel strength, it is not difficult to get a share of this market, why do you have to come to Panda?"

This is a smart person, but Xia Yu didn't answer him directly, but asked rhetorically, "You should have checked the information of Polestar." Some people think that Polestar started out of hype and has no other skills, what do you think?"

"Product first, publicity second, channel third. To be honest, Polestar's success is the exact opposite of what many companies have been successful about. ”

"That's right!" Xia Yu's eyes lit up, he really saw it thoroughly!

Knowing that this kind of person doesn't need to talk too much nonsense, he didn't think much about it and said directly: "In the MP3 market, Polestar Electronics has taken half a year to gain a firm foothold, and I believe that it is possible to win the first place in China and the top five in the world in another half a year." ”

"I believe Polestar has the strength. ”

"What if it's the mobile phone market?" Xia Yu stared at him tightly, and said word by word: "If Polestar wants to achieve this achievement in the mobile phone market, is it delusional?"

No way, now the mobile phone market is the world of international giants!

Hua Yongqing subconsciously wanted to blurt out, but stopped when he came to his mouth.

Is it really impossible?

Hua Yongqing, who has analyzed the development history of Polestar Electronics and understands their acquisition plan for Panda Mobile, is now a little unsure.

The overly young man in front of him, with the confidence in his eyes and words, really has a feeling of looking down on the world.

Xia Yu saw his vacillation, and spoke again without waiting for him to reply: "I dare to guarantee that this goal will be achieved by Polestar Electronics within two years, do you believe it?"

"So, Mr. Hua, come to Polestar and do it with me!" (To be continued......)

PS: Chapter 2 is here!

I'm sorry to say it earlier, tomorrow is Journalists' Day, and the newspaper can't ask for leave to organize group activities, so I can only go back on Saturday. I'll continue to catch up on the manuscript tonight, and I'll also take my computer out and try to keep it on track. Weekends start to make up for it.

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