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Located in the southern suburbs of Chengnan District, adjacent to the development zone of the southern suburbs of the industrial park two years ago there were only two or three factories, at the beginning of the ninety-five years, the southern district of Chengnan District will be changed here to the paper industrial park, Kumho contracted paper mills have moved into the industrial park, by Kumho investment in the construction of public systems, warehousing and logistics and sewage treatment systems, and each factory is only responsible for the construction of production lines, the formation of a complete production system, most of the funds used from the state to the papermaking enterprises to support the project of technical transformation funds. Pen | fun | pavilion www. ｂｉｑｕｇｅ。 ｉｎｆｏ

After the establishment of Shin Kong Paper Group, Zhang Ke overturned the previous merger and acquisition schedule with Chint Group and planned to acquire all the paper mills in a package.

The M&A price negotiated with various paper manufacturers includes two parts, one is the net assets part, because the new mill is mostly built with loans, and the land, plant and other assets of the old mill are not within the scope of mergers and acquisitions, including the net assets of the 12 paper mills including the new paper mill and the new mill are only 60 million; The second is the premium paid by Kumho for the merger, including the premium paid for the intangible value of the original paper mill's technical reserves, policy support, and agreed tax incentives, which is being evaluated fairly by a domestic accounting firm, and a total premium of 140 million yuan will be paid according to the standards of Shin Kong Plant.

The package solution was to pay the local government, including the Seongnam District Government, 60 million yuan equal to the net asset value of the acquisition within one year, and the premium part was converted into a 10-year corporate bond, so as to completely solve the property rights problem in one fell swoop.

Most of these twelve paper mills are district-owned enterprises, and the final approval power is in the city, and the mergers and acquisitions of one by one will not attract attention, just like the acquisition of Xinguang Factory, but to acquire the other 11 factories at once, and Xinguang Paper Group is hyping up 600,000 annual salaries at this time, and there are many media in the province staring at it. Xinguang Paper Group proposed a package of solutions, and Tang Xueqian could only discuss this matter at the meeting of the Municipal Standing Committee.

When Zhou Fu was talking to Xu Hongbo about the forest-paper integration project at Bajin Zhen Restaurant, the meeting had been going on for several hours in the conference room on the second floor of Building 8 of Wenshan Hotel. At this meeting, none of the nine members of the Standing Committee of the Municipal Party Committee were left behind, including Song Peiming, Zhang Zhixing, Cai Yujuan, President of Kumho Holdings, Zhou You, President of Shin Kong Paper Group, and Song Zhiyou, Vice President of Shin Kong Paper, who had just joined Shin Kong Paper for half a month.

There are three documents in front of everyone, one is the introduction of the basic financial situation and equity structure of Kumho Holdings and its subordinates Shin Kong Paper and Aida Electronics after the reorganization, the second is the package of solutions proposed by Zhang Ke through Shin Kong Paper, and the other is the forest and paper integration project book drafted by the traveling organization and later revised by Song Zhiyou.

What makes it difficult for everyone to accept that an eighteen-year-old boy, the son of Zhang Zhixing, the secretary general of the municipal government, has unimaginable wealth, and this wealth has been accumulated in the past two years.

At the beginning of seeing the document, Zhou Fuming said two sentences: "I know that the kid of Secretary General Zhang's family is not simple, not simple......" Next, he rarely spoke, about Zhang Ke may be one of the core figures of Tang Xueqian and Xu Xueping...... At the beginning of November last year, the news of the night when Aida Electronics won the CCTV bid was transmitted back to the sea, Xie Wanqing reported some information to the city on behalf of Aida Electronics, Zhou Fuming had some numbers in his heart, but he did not expect that Zhang Ke would be the main founder of Aida Electronics, and at this time he became the single shareholder of Kumho.

Du Xiaoshan and Jin Guohai knew more about the situation, but it was only this time that they knew that it was so specific.

The atmosphere in the conference room was a little solemn, and Cai Yujuan, Zhou You and Song Zhiyou sat in it, feeling not relaxed. Zhou You couldn't help but think in his heart, what was Zhang Ke doing at this time? Glancing up at Zhou Fuming, the expression on his face was quite calm, and he couldn't see what he was thinking, presumably with the scale of Jintian today, even if Zhou Fuming wanted to wear small shoes, he would have to carefully consider Kumho's rebound.

Zhou Fuming didn't speak, everyone else was silent, the documents were not thick, Zhou You and Song Zhiyou only explained for less than an hour, and the rest of the time, everyone was looking through the documents in their hands, and no one thought about taking the initiative to speak, so they had to digest the news well.

Zhou Fuming was uncertain in his heart, remembering many details that he had not noticed before, if he wanted to say how much he had a good impression of Zhang Ke, it was absolutely impossible, he felt that Zhang Ke had such a powerful means, and it was still surprising that there was such an achievement that attracted the attention of the world. There is always a gap between people, and without a gap, there will be no such big difference in people's social status; It's just that Zhang Ke let others gap him too much.

"Well, everyone has been reading the document for a long time, and they must have studied it carefully many times, whether they have studied it thoroughly or not, everyone has expressed their opinions......

Of the three documents, only the second one that can be seriously discussed in the city is a package of solutions proposed by Zhang Ke through Shin Kong Paper.

Zhou Fuming saw that no one wanted to speak, so he turned his head sideways and said to Tang Xueqian: "Xueqian, you are the mayor, you express your opinion first......"

Tang Xueqian straightened up, sat for so long without speaking, people still felt a little tired, said: "In recent years, more and more people realize that the government is difficult to be competent for the role of enterprise managers, the reform of the state-owned enterprise system is the general trend, and now all over the country are exploring different paths, Haizhou Holdings is taking a road, and the package of solutions proposed by Xinguang Paper is also a road, as long as it is possible to better fundamentally solve the problems that state-owned enterprises have been exposed, it is worth trying......"

Kumho contracted to operate a paper mill, competed for state support funds for technological transformation, built new plants, and invested in sewage treatment plants, which greatly alleviated the environmental pressure faced by Haizhou City, and this package cleanly solved the remaining property rights problems.

Lu Yiguang, deputy secretary of the municipal party committee, saw Tang Xueqian say this, so he turned his eyes to others, presumably wanted to let others say the next words on his behalf, and said: "Such a plan, it is difficult for people to refuse, but the implementation of this plan, Shin Kong Paper Group will take the road of high debt operation, which is similar to the original operation model of Aida Electronics introduced in the document, even if Kumho injected the first 60 million acquisition money into Shin Kong Paper, Shin Kong Paper's net assets are only about 120 million or 30 million, but the responsibility is as high as 450 million, Among them, the local government has 140 million corporate bonds, up to 310 million national paper industry technical transformation support loans, nearly 80% of the debt ratio, Xinguang Paper can still be as lucky as Aida Electronics, just in time to catch up with the industry? ”

The implementation of this plan, the financial risks in the high-debt operation of Shin Kong Paper will bring certain risks to the part of the corporate bonds in the hands of local governments.

Everyone understands the meaning of Lu Yiguang's words, but no one answers his words.

In 96, the State Council has a hard and fast rule on the asset valuation of the transfer of state-owned small and medium-sized enterprises, and the merger and acquisition price shall not be lower than the net asset value of the transferred state-owned enterprises. Haizhou City has encountered one of the easiest and most agreeable deals.

Du Xiaoshan said: "I think as long as the first 60 million can not be regarded as a loss, and the 140 million corporate bonds, Xinguang Paper also has to pay annual interest, the annual interest of more than 10 million a year is still very considerable, even if Xinguang Paper has any mistakes in operation, the corporate debt is also the priority to guarantee repayment......

Lu Yiguang's eyes fell on the third document, Xinguang Paper actually threw out an investment plan of six billion, and said: "The form of corporate bonds is also a new attempt, we should not rest on our laurels, if the first 60 million can be paid off before the implementation of the forest and paper integration project, this package, probably no problem......

At present, Aida Electronics is a super cash cow, but milking also takes time, Aida Electronics' own development will use up most of the funds, Xinguang Paper will also increase a part of the working capital, once the integration of forest and paper is launched, it will continue to take money out, Xie Wanqing will continue to draw funds from private schools, so many things add up, even if Aida Electronics is a super cash cow, it will feel great pressure,

Everyone looked at Cai Yujuan, and then at Zhang Zhixing, Zhang Ke shrunk his head and did not show his face, Cai Yujuan is Zhang Ke's official representative, but everyone thinks that Zhang Zhixing may be more able to speak on behalf of his son.

Zhang Zhixing ignored everyone's gaze, his eyes were lowered, and he calmly stared at the documents on the table. The wealth under Zhang Ke's name was really shocked, and if it was someone else, there would be a lot of worries about whether this wealth would be entrusted to non-people, and Zhang Zhixing was no exception, but he rationally restrained himself from asking about the company's affairs, and also agreed with his wife Liang Gezhen not to meddle in the company's affairs, Zhang Ke would deal with it alone, whether it was good or bad, the result of meddling would usually only be worse.