Chapter 58 The Hidden Dangers of Backdoor Target Companies

When Wang Lang and Yuan Hao walked out of the office building of the head office, Yuan Hao couldn't help but sigh with emotion: "The sky will descend on the people, boss, it seems that our leisurely days are coming to an end." ”

Wang Lang smiled faintly: "Haven't you always felt that you are unwilling?" Mr. Luo has given you a chance to show your ambitions this time. ”

Yuan Hao listened to Wang Lang ridiculing himself, and shook his head with a wry smile: "I'm afraid that we don't have enough qualifications, and we will have too many constraints at that time, and we won't be able to show our hands and feet if we want to do a career." ”

"When I'm young, I think a lot." Wang Lang scolded with a smile.

"Boss, it's not that you think too much, but that the rules have been like this for thousands of years."

"Why, you're discouraged before you do it, that's not your style. Since we have to do it, we will try to do it well, and unexpected difficulties are also expected. Wang Lang's face was calm.

"Boss, you're big enough." Yuan Hao said with a smile.

"Okay, let's go back and sort out our thoughts first, and I'll pick up Mr. Luo's daughter in the afternoon." Wang Lang patted Yuan Hao on the shoulder.

"Mr. Luo's daughter, Luo Tianyi? I heard that she is a little beauty, but she has never had a chance to meet. Boss, why don't I go with you after work today? Yuan Hao laughed.

"She's not a good talker, so don't beg for a beating." Wang Lang reminded with a smile.

"Boss, I don't believe this, how bad can Mr. Luo's daughter behave and talk, aren't you fooling me." Yuan Hao was skeptical.

"Believe it or not, anyway, your childish temperament is a blank eye." Wang Lang quipped.

"Boss, I don't like to hear this, I am called a hanger, I am clearly a romantic and suave person, I can't guarantee that President Luo's daughter will fall in love with her, is she still rare a stone man like you?" Although Yuan Hao admires this boss, sometimes he doesn't have any rules.

Wang Lang laughed and said nothing, and Yuan Hao also felt very bored, so he had to sigh: "Okay, what should I do, go back to the office and go." ”

......

At noon, Wang Lang was reading a copy of "Zizhi Tongjian" when he was idle, and Yuan Hao on the side came over and leaned back on the sofa and pondered.

"What, what's on your mind? It's not your character to be preoccupied. Wang Lang saw that Yuan Hao had something on his mind, so he put the book aside and asked.

"Boss, since Mr. Luo asked us to be responsible for the backdoor reorganization and listing of Shuoxing Technology, I just checked some relevant information and found that there are many problems, and it is not easy." Yuan Hao rubbed his temples and said.

"Oh? Let's talk about it. Wang Lang couldn't help asking.

Yuan Hao leaned on the sofa, sorted out his thoughts slightly, and said: "First of all, the assets and liabilities of the target company selected for the backdoor listing are not clear, and the financial accounts are chaotic. ”

Wang Lang was a little surprised: "The target chosen by Shuoxing Technology for this backdoor listing seems to be *ST Fenghua?" ”

"Yes, the boss, * ST Fenghua is the first batch of listed enterprises, before the listing is a poor county under the jurisdiction of the northern H province rural cooperatives in the early days of reform and opening up as a pilot collective ownership of enterprises, the main business of a variety of chemical fiber products, in the late 80s and early 90s, due to the shortage of products, the benefits of the enterprise have been very good." Although Yuan Hao is a post-90s generation, he knows everything about the past in the early days of reform and opening up.

"Oh?" Wang Lang responded with a sigh, and he had no impression of that period of history at all.

Yuan Hao looked at Wang Lang with a confused look and continued: "In the mid-90s, in response to the call to take economic construction as the center and explore the capital market to support reform and opening up, all parts of the country have asked some enterprises with good economic benefits under their jurisdiction to go public for financing and expand the scale of reproduction. The collectively-owned chemical enterprise of *ST Fenghua's predecessor is no exception, and under the strong recommendation of the provincial party committee of H province, it was finally successfully listed in the form of state-owned holding and partial employee shareholding through restructuring. ”

Yuan Hao picked up the coffee at hand and took a sip and continued: "After the listing, the chemical company renamed Fengteng Chemical should have been getting better and better under the condition of abundant funds and good market prospects. ”

"This is the root of people's inferiority, usually they only care about their own interests in the present, and how many people can take a long-term view." Wang Lang couldn't help but sigh.

"Yes, when the new leaders of the provincial party committee came to power to reorganize and find problems, Fengteng Chemical was already suffering from losses and was difficult to turn over. After the newly appointed leaders of the provincial party committee removed the appointed chairman, they had also thought of some ways, such as several additional financing to reduce debt, find strategic partners, reduce the scale of the main business and seek diversification, but the company has been in deep trouble, not to mention that the company's products are not sold in the right way, and the interest on bank loans alone can crush the company in the past ten years. The money from the increase in financing was returned to the bank, and the employees who reduced the scale of the main business were to be laid off, and the employees of the enterprise did not agree, and there was no money to seek diversification, so they kept hanging like this, and finally were *ST in the exchange. Yuan Hao looked helpless after speaking.

"This former chairman is really enough to trick people and the country." Wang Lang shook his head and said.

"Hey, it's okay not to say it, it's angry to say it. Do you know what happened to the chairman later, after being removed from his post by the new leader of the provincial party committee, he found the old leader who was transferred to another province as vice governor, and shouted grievances, and in a blink of an eye, he became the CEO of another company, and he was still happy and chic. Speaking of this, Yuan Hao had an indignant expression on his face.

"This is a tradition of thousands of years, and there are not a few cases of a person ascending to heaven and appointing cronyism rather than meritocracy." Wang Lang also sighed.

"This doesn't turn a good company into a mess, and if you don't talk about others, how can the shareholders and employees who support this company not feel heartache." Yuan Hao has not recovered from the unevenness.

"Why don't you say such a company should go bankrupt?" Wang Lang was a little puzzled.

"Who dares, once this kind of state-controlled enterprise, which has been in debt for more than ten years and has accumulated debts, declares bankruptcy, it will be even more chaotic, the bank's money will have to be treated as bad debts, the employees of the enterprise will have to be laid off, and the performance of local government leaders will be damaged. Now it is hanging like this, and the bank collects interest money every year and does not deal with bad debts, which can be regarded as a superficial article. Employees are subsidized by the state, and the company itself will tear down the east wall and make up for the west wall, and it will not be considered to be laid off and unemployed, so that the local government's performance will not be damaged, and the face will be good-looking. Yuan Hao looked like he had seen through the sky.

"Are you saying that the country can't make up its mind?" Wang Lang asked rhetorically.

"It's not that it can't be done, it's that there are too many enterprises that need to be solved, and the currency was loose a few years ago and is now tight, how many companies can have a better life?" Yuan Hao said.

"Then you mean that the value of this *ST enrichment shell has to be carefully pondered?" Wang Lang looked at Yuan Hao and said.

"Not only do you have to ponder, but you have to grind deeply. Boss, do you think that this continuous loss-making company only has a debt of more than 100 million yuan in this bank? Isn't there an off-balance sheet debt? In addition, many employees of this company have equity, and the issue of equity transfer ratio and profit concession is also a headache. In the end, this company is a state-controlled enterprise, and we must be cautious at what price it will be transferred, and the infamy of the loss of state-owned assets will be enough for us to drink a pot. ”

Looking at Yuan Hao's endless chatter, Wang Lang couldn't help but ponder......