Critics may be exaggerating, but at least they say that the fairy's development in China is not good enough to match her economic status in China. As a star company, it did not maintain enough strength, whether it was her international rivals (here mainly referring to Far Eastern enterprises), or domestic partners or opponents, they all found that she did not seem to do her best, at least did not make full use of social resources to strive for better market results, even Japanese companies, in the company's internal report also admitted this! The fairy has never been a benevolent master, as a commercial company, of course, it must try its best to maintain its own profits, and only by defeating its opponents in the market can it be a real business success and a real business powerhouse. So what is the reason for the "weakness" of the fairy company?

Lee's domestic industries involve 12 industries, including real estate, commerce and trade, electronics, new materials, biotechnology, banking, steel, textiles, food, basic parts, energy and automobiles. Steel and textile these old industries, she basically adopts laissez-faire measures, no matter what, there is money to make on the line, this economic crisis, there are 8 textile companies merged by peers (under the auspices of the government), and 4 companies have collapsed, fortunately, the merged companies are also fairy holding companies, it can be said that the loss is not much, the big impact is not, just lose some money. The remaining eight major industry companies are all Lee's more important industries, among which the assets of trading companies and basic parts companies are relatively small, which have little impact on the overall situation, and what really makes Lee's management concerned is the six major industries of Fairy Electronics, New Materials, Biotechnology, Banking and Food, and Xixing's Real Estate. During the entire economic crisis, only the five major industries of fairies can make money, and of course, these major industries spend a lot of money; Today, the five major industries of the fairy, with a total asset of more than 4.4 trillion yuan, can be called the leading large consortium in China, and even in the international arena it is also a top consortium (ranked 6th in the world's wealth). It should be said that a big consortium should have the bearing of a big consortium and should be able to make money, especially in difficult times, the more money should be made, but this is not the case!

Fairies also have their own difficulties, every family has a difficult scripture, fairies can not avoid, the company's five major industries, of which there are four major industries with relatively strong assets; In fact, only the four major industries are really in better shape. The so-called four major industries, electronics companies and new materials companies are the original industries, the company is more assured of these industries, the banking industry is "sitting on the ground to share the spoils", the profits are relatively high, although the food company said that the situation at the time of acquisition is relatively poor, but due to the acquisition of "reluctance", all kinds of difficulties for opponents, get some better assets, most of the debts are separated, most of the arrears do not belong to the fairy, just invest in production, so the business situation is also good.

What troubles the fairy is the five branches of biotechnology, these companies are not small, but the situation of the company is not very different, and the arrears and debts are not the same! Fairies like to buy international companies, they can ask them sky-high, say that the arrears are very serious, and blow the debts higher than the sky, but it will not work for their domestic counterparts, they don't eat fairies at all, and they can't eat them. When Jing'an Company was acquired, all the arrears and debts were stripped away, and it became the tail of Yamazaki Company in China, anyway, Japan is not far from China, and the company will not leave! And because Lao Mei is too far away from China, the fairy intercepts some of the book funds of the Huron Company as debt compensation, and naturally advocates the difficulty of debt recovery, and the two companies will not lose money on the whole. But the other three companies are different, if Jintong Biotechnology Company is not acquired by the fairy, they will try to file for bankruptcy, the company's large amount of arrears can not be recovered, and there are a large number of debts that need to be repaid, although the funds acquired by the fairy are not much, but the debts and arrears are received in a package, in fact, they have inherited a heavy burden, Jiujiang Biotechnology is similar, the fairy has undertaken nearly 100 billion yuan of debt from these two companies, although theoretically there are 130 billion yuan of arrears that can be recovered. Although it is said that if she can recover 100 billion yuan in arrears, she will not lose money, and she can earn 20 billion yuan, but the fairy has never been mentally prepared! Longjia Biotechnology Company is integrated with Longjia New Materials Company, Longjia Group is too tired to play two industries, so I remembered the fairy; She originally wanted to transfer the new material company, but the fairy couldn't look at it, because there were too many overlapping industries between the two sides, and there was nothing else to ask for except for the biotechnology company! Long Jia was very reluctant to let go of the biotechnology company, although this is one of her main industries, and the fairy paid a lot of money for it, 70 billion yuan of debt was taken over 500, and the arrears of 80 billion yuan were also shared with a recovery rate of 60%, and they were actually in a state of loss! With these three companies alone, the fairy has increased its debt by 170 billion yuan and arrears by 200 billion yuan, so to speak, she has never been so cowardly, which is also an important reason why they are unwilling to continue to stay in China.

People always take it for granted how rich the fairy company is, but they don't know how poor the company is! Since injecting 50 billion yuan into biotechnology companies, by the end of 37, the book capital is only 20 billion yuan, which is their last available fund. Finance Minister Luo Ning hurriedly asked the boss for instructions, of course, he hoped to withdraw funds from various subsidiaries, if the opponents knew that the company was poor and became like this, they would definitely take the opportunity to make trouble! After the emergency financial allocation, the book funds finally reached 70 billion yuan, but at this time, the entire company system only had more than 200 billion yuan of net funds, which made the person in charge of the headquarters feel that there are too many monks and too little porridge. Because the financial resources are not strong, she can't do too much, of course, she knows very well her opponents, especially the financial situation of large Japanese companies, only the funds she let go, the three giants reached 510 billion yuan, these companies are not easy to deal with, and she does not dare to fight with others. The fairy does not fight with each other for funds, which also makes it difficult for the Japanese company to give full play to its financial advantages, which protects the company itself to a certain extent! Regardless of whether she finances or exploits, anyway, the fairy's domestic industry does not compete in the market with great fanfare; Not only that, but she also pulled a large number of various domestic counterparts to compete for the market, and to a considerable extent, gave her own market to domestic counterparts. According to Fairy's internal statistics, if the company competes with international companies alone, the earnings can be increased by at least 20%, although the overall interests of the consortium have been improved, but as the largest domestic company, they have more to lose. Together with her domestic counterparts, she used bank loans to develop technology, seize the market, and launched a life-and-death duel with her international counterparts, but finally transferred some of the benefits to her domestic counterparts. No one really knows why the fairy does this, although everyone knows that she is by no means a soft-hearted company, and she has never been soft-hearted in front of her domestic counterparts, she grew up on the accumulated bones of her peers, but why is she so "kind" this time?

There are three reasons that can explain the fairy's behavior, one of which is that she can't fight the consortium of international counterparts alone, she has this self-knowledge, although she has the capital to fight, but the cost is too great, especially the direct resentment, which is not in line with the fairy's market strategy. Second, she intends to join forces with domestic counterparts, if they compete with international companies alone, then, other domestic companies will either suffer from the fish in the pond, or combine into another strong consortium to protect themselves or participate in the melee, for this consideration, then decided to take the initiative to form a strong consortium, with themselves as the leader, which not only avoids the risk of fighting alone, but also takes proper care of domestic counterparts. Third, she had to join forces with domestic companies in exchange for maximizing the company's interests. The Battle of the Far East is a national war, related to the life and death of the enterprises of the three countries, each country is not composed of only a few giants, there are many large and small companies of all kinds, even giants like Matsumoto, in international competition, often carry domestic companies of all sizes to fight together, so why can't the fairies? In fact, many people also asked her to do this, in order to make it easier to get low-interest loans from banks, especially the loans to India that caused great controversy in the domestic society, just as a gesture of goodwill to the authorities, she had to join hands with her previous opponents, and had to change her tradition of isolation in the country! Fourth, and most importantly, it may also be the internal opinion of the Li family, that she intends to maintain the "market balance" of domestic enterprises, which can be more clearly felt from her later behavior. An important principle of the future fairy's activities is to maintain the balance of power in the country, to avoid their own family "dominance", and at the same time to prevent the emergence of new powerful forces!

The reason why the yield of the fairy is relatively low is also related to the composition of its domestic industry, the economic crisis has caused a depression in all industries, more than one in ten social needs, and most industries have serious losses. The fairy's industry is relatively concentrated, and the manufacturing industry is concentrated in the three major industries, which is her obvious advantage, or it can be said to be a serious shortage. The three major industries are recognized as more profitable industries, but not at all times there is a market, the demand of the electronics industry has basically maintained the growth of the same as the market, biotechnology is closely related to people's livelihood, and the growth is relatively fast, but people dare not consume, about 20% behind the market recovery rate. The social demand for new materials in another major industry has been relatively weak, and the recovery speed has not been able to keep up, and by the end of 39, it has only recovered 40%, which makes the company's profits relatively low, the market price can not go up, and the competition is very fierce, in 37 years, her income is still more than that of biotechnology companies, but in the second year it is not as good as the newly formed biotechnology company, and in 39 years, it is far behind. These three major industries are the areas where market losses are relatively concentrated, and the legendary company can be said to be in difficulty. Relatively speaking, the yield of food companies is the highest, although the price of food has also fallen a lot, and the whole company has entered a stage of benign development, which makes some people in the headquarters have to be impressed, you know, this industry is an industry they have been refusing to enter; Compared with its small scale, it can collect 20 billion profits a year, which is not a simple thing, so whether to continue to increase investment, some of the responsible persons have begun to plan and make a situation analysis manual...... But the most profitable industry is the banking industry, which is the fairy's biggest cash cow, in just a few years, she alone has borrowed hundreds of billions of yuan, in someone's words, just like that, tens of billions of yuan are gone! Fairy's subsidiaries have made a large number of bank loans, short-term loans reached more than 500 billion yuan, although these loans do not go through the headquarters, but also make someone feel frightened, saying that their loans are "too fierce", too "not cost-effective".

Compared with the fairy, the industry of Xixing is even worse, the real estate has shrunk by nearly half, and the trading company under the investment company is in a worse situation, and the assets have shrunk very seriously, but because of the support of the fairy, they have not gone bankrupt, and in fact, they cannot go bankrupt, these companies have been dealt with by Xu Peng, and most of the companies that are not favored, especially those companies that are not controlled, have been sold, and the companies left behind do not owe much, and the debts are basically not much, but the West Star is spending money, And it's the company that spends the most money! Xu Gangchuan's investment plan had been handed in before the economic crisis, but the fairy headquarters had not replied, which was neither affirmed nor rejected. Of course, he didn't know that someone was more in a dilemma, and it wasn't until the economic crisis broke out that he got a reply, and it was very simple, "the situation has changed, the plan is no longer suitable, redo it". Of course, Xu Gangchuan knew that the previous plan was no longer suitable, who knew that there would be an economic crisis, "who knew that the perverted Uncle Li was waiting for the economic crisis", so he categorically gave up the previous investment plan, and instead formulated a new investment plan, and it was a larger investment plan, and then submitted the plan to the fairy headquarters again.

It's a little funny to say, Xixing Investment and Management Company belongs to the Western Galaxy, but his investment plan has to be handed over to the fairy headquarters for review, and only Li Mengze is such a "perverted person" will be so distributed, according to Li Yudong's opinion, the investment and management company was simply withdrawn, and all its companies were transferred to the fairy, which is also convenient to manage, and it would be good for Xixing to concentrate on real estate, but Li Mengze didn't agree, saying that Xixing can only expand, not shrink, and a company can't move over! So there was a funny thing like Xu Gangchuan, a senior manager of the investment and management company, submitting the investment plan to the fairy headquarters for review, and then appropriating funds from the head office, but anyway, Xu Gangchuan got the investment authority and investment funds he needed! The initial investment funds were transferred from the account of the total West Star Company, about 25 billion yuan, and most of this money was used to acquire real estate. What is ridiculous is that his business investment plan first needs a large number of real estate, most of which are commercial buildings, which were originally the investment company's own business, but were eventually completed by the head office. The shops rented by the commercial company are completely the real estate of the head office, and some of these real estate belong to the direct jurisdiction of the head office, some belong to the Beijing branch, and some belong to the Donglin real estate company, and the business of the whole company and the real estate system of the head office intersect. In fact, most of the commercial companies of investment and management companies are established according to the real estate of the head office, and the first cooperative company was established in this way, and most of the companies are also established in this way, which has now become a common practice! Just like the fairy company will not have real estate, the investment and management company will not have real estate, and they are more thorough, even the headquarters building is rented from the head office! Yes, Xu Gangchuan has no intention of objecting, because these things cannot be a problem at all, whether it is a fairy company or a Xixing company, it is a whole in itself, and the investment and management company is fully controlled by the head office, they are a perfect consortium! What Xu Gangchuan has to do is to point out the buildings he needs, and the head office will acquire them, and then carry out his business planning in his own building. Of course, this involves the problem of money, because the amount of his investment is no longer what the current Xixing Company can pay!

The fairy took full advantage of her dominant position in the country, and this is her status as a major shareholder of the bank. The fairy is the majority shareholder of the two major banks, and she injects a lot of money into these banks, so what should she do now that she is short of money, "take a loan from the bank"! The fairy's loan from the bank is divided into two parts, one is the working capital urgently needed by the domestic company, and the other is the capital needed for foreign investment. Of course, they can also use the name of the headquarters to take other subsidiaries for low compensation, which is generally not necessary, because each subsidiary has multiple branches, for example, there are 14 branches under the electronics company, and there are 8 branches under the new material company. The loans of the fairy headquarters are also an important aspect, unlike the short-term loans of the subsidiaries, these loans are long-term low-interest loans, not only with relatively low interest rates, but also with a relatively long term.

The first loan from the headquarters of the Fairy was made on March 14, 37 from the European Deutsche Bank, with a total amount of up to 150 billion yuan, and at a very low interest rate, which was the money obtained in accordance with the agreement she signed with the European Union, and was a compensation from Europe for abandoning the energy strategy; The second loan was from the Industrial and Commercial Bank of China on April 20, 37, with a total amount of 50 billion yuan, a term of four years, and a slightly higher interest rate than the loan at Deutsche Bank. At the beginning of July, the fairy borrowed another 100 billion yuan from the Industrial and Commercial Bank of China, with the same interest rate and term as the previous loan; Immediately afterwards, she lent the remaining 130 billion yuan from Deutsche Bank, which was the fourth low-interest loan that the fairy got, and she did not borrow from the bank until the end of the year. According to statistics, a total of 430 billion yuan was lent from two banks that year, of which 300 billion yuan was invested in the Indian market. On March 2, 38, the fairy borrowed 150 billion yuan from the Bank of China at a one-time rate, with the same interest rate as the Industrial and Commercial Bank of China, and then borrowed 120 billion yuan in July, and 3 months later, borrowed 130 billion yuan from the Industrial and Commercial Bank of China. On April 6, 39, the third loan was made from the Bank of China, which is also the eighth long-term loan of the fairy, totaling 150 billion yuan, which is used to pay for the contract funds of the Hindustan Railways and the bank, and in October, it borrowed 160 billion yuan from the Industrial and Commercial Bank of China, all of which were used to invest in the two major institutions in India. So far, Fairy has borrowed a total of 1.14 trillion yuan from the three major banks 9 times, all of which are used for her investments in India and Europe, all of which are long-term loans with a term of 4 years, of which the loan interest rates in Europe are generally low, and all loan interest rates are lower than short-term loan interest rates, and even lower than the long-term loan interest rates of most companies.

The fairy is the world's leading debtor, and she is the only one in the world who has borrowed such a huge amount of money from the bank at such a low interest rate. According to internal statistics, the company will repay Deutsche Bank in 41 years with a total of 321.3 billion yuan of loan funds and interest, including 172.13 billion yuan in the first half of the year, and in the same year, it will pay 176.1 billion yuan to the Industrial and Commercial Bank of China, and a total of 497.4 billion yuan of loan principal and interest will be paid throughout the year. In the second year, a total of 469.746 billion yuan of loan principal and interest had to be paid, and in 43 years, the previous loans could be fully repaid, with interest reaching 49.874 billion yuan, totaling 359.874 billion yuan, and a total of 187.02 billion yuan of loan interest to the three major banks had to be paid in three years, with an average interest of 16.4 billion yuan per 100 billion yuan. Some people in the headquarters are very distressed about this, "more than 60 billion yuan a year"! The loans of the fairy company in the three major banks are mortgaged by the company's property, and the two loans in Europe are all secured by the shares of Messer Electronics, while the seven loans in China are mortgaged by their domestic industries back and forth.

The fairy's investment strategy is tilted towards India, so it generally does not withdraw funds from Indian companies, whose task is to open up the Indian market and increase their dominant position in the four major industries, so these loans are mainly repaid by domestic companies. And by the end of 39, the fairy company has accumulated a total of about 700 billion yuan of profits, if you take into account the company's investment and risk problems, the overall situation is still quite tense, to the beginning of 40, the headquarters only has 200 billion yuan of funds, the rest are mainly distributed in the hands of the three major industries and the West Star Company, each company's reserve funds are not much, of course, these situations are not known to the outside world. Fairy's income in the domestic industry is not good, but the industrial profits in Europe are "quite good", the acquisition of Sisco biotechnology company, Fairy only used 90 billion yuan, in addition to paying 25 billion yuan of debt, and re-injected 15 billion yuan of liquidity. Although the money is not much, but enough to make the company run, in addition to the debt pressure is relatively light, it is very convenient to use bank loans for its own development, since the start of production in March 37, relying on the original market and the social advantages of the headquarters partners, rapid expansion of business, because the head office has not changed the company's management strategy and staffing, the internal changes are very small, maintaining a faster recovery speed than the market, but also because the market environment is better, profits are rising. For example, in 37 years, the after-tax profit of this company with assets of only 100 billion yuan reached 20 billion yuan, and in the second year, it exceeded 35 billion yuan, almost doubling, which made European counterparts exclaim; By the end of '39, the biotech company, which was on the rise, had a market capitalization of 240 billion yuan and a total profit of 110 billion yuan, making it one of the richest companies in Europe. Some of her rivals are weaker than the company's strength, and the Belgian company that the fairy has been in contact with has not yet completely escaped the crisis and has not been able to reap the corresponding benefits from the European market. At this time, the fairy stranded in the profit share (Messer Electronics Company) has reached 12.2 billion euros, so just a few days before the traditional Chinese New Year, the fairy took 20 billion yuan from the Sisco account, and contracted the profit share of Messer Electronics Company (a total of 15 billion euros), all invested in the French Andorra Aircraft Company, holding a total of 21% of the company's shares, maintaining its investment in the European market! On the whole, the profit of the fairy company is so much, of course, she has recovered a lot of arrears in India, it is said that by the end of 39, the arrears that can be recovered in the early stage have all been recovered, not only after repaying the debt, but also remaining 55 billion yuan, has been able to maintain the normal operation of the Indian industry!