After the Spring Festival, the scope of negotiations between Liantou and Lijing on the issue of debt settlement was expanded to all creditors. It is no secret that the pen ~ fun ~ pavilion www.biquge.info Liantou took over the Century City project under strict control. After hovering in the second place for a while, Jinghai Jian's total stake began to rebound strongly, and soon broke through the level of binary semi-finished products to recover from the mid-03 years.

Due to the stimulus of the restructuring news, the unique performance of Jinghai Construction Group's junk stocks attracted large-scale investment, and the stock price quickly broke through 2.5 yuan in semi-finished products, and the essence of the company was not fundamentally improved.

Lin Quan completely pushed the negotiation affairs to Fang Nan, and he completely stood by and watched the negotiation process, and the negotiation process did not seem easy, and the aspects involved were too complicated, although Liantou could influence the decision of the largest creditor, Nantou, but other creditors were quite insistent, especially in terms of interest reduction, each negotiation only made a small step, unable to meet Lin Quan's requirements for complete reduction of interest expenses, and the interest payment of 3.7 billion huge debts was the biggest pressure on Jinghai Construction Group, and the profits of Jinghai Construction Group's other businesses could not offset the financial costs in this regard. Due to the close relationship between Nantou and Liantou, only by adopting an attitude of abstaining from voting at the creditors' meeting can it not be delegated.

After Jinghai Jianzong's shares broke through the 2.5 yuan mark, Lin Quan gave an inscrutable instruction to the securities investment company: sell off the shares of Jinghai Jianzong, which had been increased on a large scale in the early stage.

Lijing cancelled 34% of Chen Yu's shares, and the total number of shares of Jinghai Construction was reduced to 770 million, and the number of shares that could be freely circulated in the securities market was 360 million, and the United Stock Investment absorbed nearly half of them in the early stage. At this time, the announcement of the reduction of holdings is actually a sell-off, even if the stock price falls to the previous low price. The results of this operation of the securities investment company are also quite amazing.

Of course. In the case of the stock market being sad and there is no better way out for the funds, it is in line with the principle of the interests of the securities investment company to keep the funds in the stocks of Jinghai Construction General Land and squeeze the maximum benefits with the good news that the prospects are becoming increasingly clear. However, United Securities Investment is a subsidiary of United Investment, but the general principle of the securities investment company is that it must be in line with the overall interests of United Investment. At least until the securities assets of Hutchison and Dongdu are merged, the securities investment company will have more independence.

The large-scale sell-off of Liantou completely crushed the influx of investment funds into the ground drain * point, and the shares turned sharply and fell sharply, and it was stabilized only after the previous low price.

At this time, Liantou stood up to solve the problem of Jinghai Construction Total, and the close relationship between Liantou and Nantou was solved. It's no secret to investment institutions that pay attention to Jinghai City. Nantou's 1.8 billion creditor's rights have become the biggest bargaining chip for other creditors to blackmail Liantou.

Once Liantou put on this posture of being ready to leave it at any time, not all creditors can bear the pressure, especially the funds that entered the late time were locked in the shares of Jinghai Construction by the sell-off of Liantou, and they could not say that they could vomit blood and could only swallow it back into their stomachs.

Bankruptcy, collapse, and chaos that no one wants to see. The balance of interests is the basis for the existence of negotiations. It's just that Lin Quan is running around these days to get the financial license of the loan project. Lin Qinnan presided over the local microfinance sky project. In the past ten years, the county-wide pilot project has met quite perfect conditions, and the intervention of joint investment has made it necessary to establish a financial company. Although it is only planned to invest less than millions of funds in the early stage to carry out a pilot project in Luoran, it is not generally difficult to involve financial access permits.

Lin Quan put down billions of projects and ignored them, but ran for millions of projects, which is really helpless, not everyone understands Lin Quan's mind and the city government.

Jinghai Jianzong did not make substantial progress in several creditor negotiations, which made Fang Nan and others have a sense of frustration, so they finally blocked Lin Quan in Jinghai and asked him to attend the countermeasure research of Liantou, Nantou and Lijing before the fourth creditor alliance and negotiation.

"Liantou jumped out too early," Lin Quan complained, "Since Lijing wants to cooperate with Liantou, but she made such a big move as canceling the equity, she didn't have a chance to meet with Liantou's prophet, and creditors can easily guess the bottom of Liantou, so they can only use time to grind their patience." ”

Fang Nan glanced at Chen Yu, not knowing if she could fit Lin Quan's cold negotiation tone.

Chen Shan, like Shao Bing, said-for-tat: "Lijing's first action can only show that the strategy of Liantou has successfully worn out Lijing's patience......"

Lin Quan coughed lightly a few times and ignored Chen Shan's questioning.

"In addition to the intention of draining the opponent's patience, is the current action of Liantou leaving room for himself to withdraw?" Lin Quan avoided the previous meetings, and it was no wonder that Chen Shan had a fire in his stomach and was not so polite when he spoke. Lijing is now a tiger falling into Pingyang, but it is not without the dignity of a big consortium.

Chen Yu was quite embarrassed to sit there, she didn't expect Liantou to be merciful in business negotiations, but Liantou really didn't pay attention at all, and it was still weird and awkward.

Lin Quan squinted his eyes slightly, sat down like warm water, and didn't seem to mind Chen Shan's questioning, seeing that Lin Quan didn't feel the pressure at all, Chen Shan didn't have a temper, suppressed his voice and continued to ask: "In the face of the situation last time, has Liantou considered how to break the deadlock?" At present, it seems that it is impossible to solve the matter in a package, can Liantou sign a summer agreement with Lijing first? ”

"A pact with Lijing?" Lin Quan looked back and asked Fang Nan sideways, "Didn't you discuss the solution of the creditor's rights earlier?" Have I seen any agreement between Liantou and Lijing?"

There was the same information in the folder in front of everyone, Fang Nan saw that Lin Quan was clearly confused, turned the information to the agreement initialed with Lijing, and handed it to Lin Quan: "Liantou and creditors have established a debt settlement and a plan for the continuation of Century City, and Lijing will transfer 340 million shares of Jinghai Construction Co., Ltd. and 520 million debts to Liantou for free, and Liantou will ensure that these debts will be repaid to Jinghai Construction Co., Ltd. within a three-month period." ”

"Oh, the current situation, even if Jinghai Construction and the creditors reach an understanding on the payment of interest costs, to really start the Century City project, only relying on the 520 million invested by the joint investment is far from enough, and there is a funding gap of 1.8 billion, which is a headache......

Zhang Biyun, who attended the meeting, said: "The total investment scale of Century City is 6.8 billion, and the current investment of 3.5 billion yuan should be 2.8 billion yuan to deduct the 500 million debt of Lijing, and there should be a gap ......of 2.8 billion yuan."

"Am I mistaken?" Lin Quan looked left and right in surprise.

Everyone looked at Zhu sympathetically, it seemed that he was too busy this time, and even the key data of Century City was wrong.

Chen Yu gradually got used to facing Lin Quan. She stared at Lin Quan with beautiful eyes, and had the same question in her heart, Liantou set up a principle when she took over Jinghai Construction, and Lijing Century City will only start to sell to the outside world after it is fully completed, so the construction funds must be raised by themselves.

Lin Quan knocked on the table. Said: "Who put out the plan of Century City." ”

The Century City project built by Jinghai Construction General Manager draws on the model of Nangang New Town, but is positioned in the middle and high-end crowd planning map, and the square is square, from the diagonal, the entire Central and Southern Century is divided into two pieces, the southeast and the northwest, from the northwest to the center point, to raise funds to build high-end apartments, multi-storey residential villas, the southeast is close to the light industrial area of the open area, and it is a low-level land, and some low-grade residential areas will be built, because the northwest is close to the Nangang New City and the new administrative center, so it is the first to be constructed.

Lin Quan said: "To convince creditors, they must come up with a plan that impresses them, and the original plan is big and inappropriate. It is by no means a random comment, even if Liantou is willing to invest a lot of money, sales will be a problem after completion, and there will be no financial improvement. I thought you had changed the plan? ”

Fang Nan said: "You emphasized that you paid attention to financial and debt issues in the early stage, and there was no time to refine the overall plan. ”

Lin Quan put his hand on his forehead: "I said so"?

Everyone nodded together.

"Oh." Lin Quan smiled awkwardly: "Before the next creditors' meeting, you have to reformulate the debt solution, the most important point is to reduce the scale of investment in the planning of Personality Century City, in addition to the continuation of the existing projects, other projects can be cut and cut, do not hesitate, the scale should be reduced to less than 5.5 billion." ”

Chen Shan saw that Lin Quan gently pulled the topic to the scrutiny of the century plan, thinking in his heart that he would turn the topic back, and he was worried that it would be too blunt, and he was hesitating when Chen Yu opened his mouth and said: " In the previous joint negotiations, creditors other than Nantou also proposed many solutions, including debt-to-equity swaps, which were recorded in the minutes of previous joint negotiations, but these plans were too different from the requirements of the joint investment side, so they were delayed, except for the first time when the plan was proposed, and the upper and lower levels did not make substantial changes to the first plan in the joint negotiations......

Lin Quan was a little afraid to look at Chen Yu's eyes, stared down at the information book, his long fingers lightly tapped on the table, he was silent for a while, raised his head and said: "There is a key point in the plan that I can accept: first, Liantou took over 45% of the equity and 520 million debts of Jinghai Construction from Lijing Group, and restructured the board of directors and board of supervisors of Jinghai Construction with the participation of creditors and major shareholders; The second point is that the creditor gave up the interest claim of Jinghai Construction in 04 and gave up the interest claim in 05 and 06 years, completely relieving the financial cost pressure of Jinghai Construction Group; Thirdly, Jinghai Construction General Manager sold new shares with a total amount of less than one billion yuan and a two-year lock-up period to major shareholders and creditors in the form of a non-public bank to raise construction funds for the next step; Fourth, as compensation for the creditor's interest reduction, the same number of non-tradable shares of the new stock bank, the exercise period of the put warrants is two years, and the stock price is lower than 2.5 yuan after two years, and all the new shares of the bank can be repurchased by Liantou at a price of 2.5 yuan; The fifth point is to reduce the scale of Century City and ensure that Century City is fully completed before the ...... six years" Lin Quan's words were unhappy, ensuring that everyone present could understand what he meant, and paused: "The reorganization of Jinghai Construction and the continuation of the construction of Century City can understand his meaning, and I don't need to participate in the joint negotiation of creditors, I think my meaning is very clear, and it is necessary to reshape a new Jinghai Construction General as a common goal for everyone." ”

Only then did Gu Xiaoling understand what Lin Quan's idea was.

The use of non-public, directional placement model, the original financial costs borne by Jinghai Construction can be easily resolved, only two years later, Jinghai Construction's share price is tied to stand above 2.5 yuan, Liantou and Jinghai Construction do not need to pay any consideration for this plan, and creditors can also get 350 million income from the placement of new shares after the full reduction of interest to make up for the interest loss. The most important point is that the creditors will continue to provide Jinghai Construction with funds for the continuation of the construction of Century City.