This is a private pharmaceutical company that borrowed 1 billion yuan from the asset management company where Yanran interned for two years.

The asset management company transferred the accounts receivable held by the pharmaceutical company to a tertiary hospital, and the pharmaceutical company used the funds obtained from the transfer to supplement its working capital.

When due, the debtor's tertiary A hospital will repay the accounts receivable when due, and if the tertiary A hospital is unable to repay the accounts receivable when due, the pharmaceutical company will fulfill the obligation to repurchase.

Yan Ran took a closer look, from the design of the transaction structure of the project and the information seen on the surface, there seems to be no major problem, the credit of the tertiary A hospital is generally very good, and I have never heard of the situation that the tertiary A hospital will default, so the only question now is whether the accounts receivable are real.

At present, the pharmaceutical circulation industry is an industry that purchases drugs or medical devices from upstream pharmaceutical manufacturers and then wholesales them to downstream terminal hospitals, and in the middle is an important part of undertaking upstream pharmaceutical production enterprises and downstream terminal links - pharmaceutical companies, and this private pharmaceutical company is the link between upstream and downstream.

Yan Ran further analyzed the entire industry, she searched a large number of information on the Internet, and found that driven by the acceleration of the new medical reform and the improvement of residents' living index, the market size of the national pharmaceutical circulation industry has grown rapidly, much higher than the world average growth rate in the same period.

According to the regional distribution, pharmaceutical distribution enterprises can be divided into two types: national distribution enterprises and regional distribution enterprises, and this private pharmaceutical company is obviously a regional distribution enterprise.

Now the country's policy is to encourage drug circulation, enterprises through mergers and acquisitions, listing financing, bond issuance and other ways to become stronger and bigger, to accelerate the realization of large-scale intensive and modern management, the country also has a goal to cultivate a number of network coverage of the whole country, intensive and high degree of informatization of large-scale drug circulation enterprises.

Yanran came to a conclusion that the state is encouraged and supported, and it is necessary to promote the improvement of market concentration.

For the pharmaceutical industry, with the acceleration of the country's economic development and the aging of the population, the pharmaceutical circulation market has broad prospects, and the sales of drugs are mainly based on terminal sales such as hospitals.

It seems that this business is a very thriving business at the national policy level and in the pharmaceutical industry.

Yanran found another special feature: the "two-invoice system" is implemented in the circulation of drugs. That is, the drug is sold from the production enterprise to the circulation enterprise to issue an invoice, and the circulation enterprise sells to the medical institution to issue an invoice again, which is an important policy implemented in the drug circulation link nationwide, the implementation of the two-invoice system can reduce the circulation of drugs, reduce the invoice, money laundering behavior, and finally gradually reduce the price of drugs.

It seems that the regulation of the industry is still relatively strict.

At present, 80% of the country's drug sales are completed through medical institutions to complete the two-invoice system, has been basically implemented, after the two-invoice system of medicine, pharmaceutical agents must carry out the operation of the floor price to high.

This private pharmaceutical company has a registered capital of nearly 500 million, and its business scope is mainly engaged in pharmaceutical wholesale and distribution business.

In the due diligence report, his major shareholder and actual controller were also highlighted. In the past few years since its establishment, the company's main business model has been to obtain the difference in sales price by purchasing drugs from midstream and upstream pharmaceutical manufacturers, and selling drugs to downstream hospital distributors and pharmacies.

According to the due diligence report and review report, the pharmaceutical company rented a warehouse of about 10,000 square meters and had 20 special drug distribution vehicles to deliver drugs to various parts of the region.

According to the on-site investigation of the inspectors, the company's pharmaceutical warehouse was converted from a rented ordinary warehouse for post-processing, with a total of 4 floors, and the temperature in the warehouse was below 20 degrees Celsius when the site was inspected, and there was a temperature monitoring device.

At that time, there were about 15 special drug distribution vehicles in front of the warehouse, two of which were cold chain distribution vehicles, and the examiner did not describe in detail the drug situation in the cold storage in the report, but explained that the warehouse system and the national regulatory system are networked, and the drugs need to be entered into the national regulatory system in and out of the warehouse, and the whole process of electronic supervision of drugs has been realized, so the examiner concluded that it is estimated that the value of drugs in the warehouse is about 100 million yuan.

Yanran had questions about two things here, one is how to estimate the value of about 100 million yuan of drugs? Second, if the examiner did not enter the cold storage, how can he be sure that there are also a lot of drugs in it?

The financial statements of the private hospitals can be seen that the asset quality is good, the liabilities are mainly payable for drugs, there are no rigid liabilities, the revenue scale is large, the medical balance is growing year by year, and the solvency is strong.

The last paragraph of the due diligence report analyzes the assessment of the use of funds and the scale of financing, as well as the assessment of the guarantee ability of the actual controller.

This is only a vague brushstroke, and it is also an obvious suspicion.

This incident also has a very great impact on the entire asset management company, and the industry regulatory authorities even immediately came to check, and a task force was set up within the company, and Yanran, as an intern, belonged to an idler, and at a time when everyone was very busy, she was the starting officer of the task force.

Yan Ran raised her head from the case file, she saw that Sister Hua was no longer in her seat, she went out to look for it, and found that Sister Hua was receiving water in the pantry, her eyes were dull, the teacup placed under the boiling kettle had already been filled, and the water was still flowing out.

Yanran hurriedly walked up, helped Sister Hua turn off the switch, and said comfortingly: "Sister Hua, don't worry, let's think of a way." ”

Sister Hua saw that it was Yanran's firm and cold eyes, as if she had found someone to talk to, her eyes were full of tears, and she cried when she hugged Yanran.

Yan Ran didn't say anything, she patted Sister Hua's back like this, and helped her soothe her one by one.

Sister Hua had no intention of working at this time, she pulled Yanran to a small conference room to sit, and the conversation box opened: "Yanran said that I am not unlucky, this matter has nothing to do with my half a dime, but one day, the damn person next door has something to do temporarily, let me follow to sign a contract, I think, these things have been reviewed, I will go to help do an interview, will something happen?" As a result, you know what, those two people were quite strong that day, we asked for ID cards and work permits, and those two people had black faces all the time, as if we owed them, and finally showed us the ID card, and then took it back impatiently, and at that time I thought that the two people who were recording the video would not be allowed to record at all, but I still secretly recorded it. I have never been so aggrieved, and then I called the person next door, and he told me that the pharmaceutical industry is like this, everyone begs them, and the people in this hospital must be the best, and countless people come to ask them for help every day, and it would be good to be able to receive them.

I had no choice but to come back, but I still had an eye at the time, and after I came back, I went to the review meeting, and told them that it was a little strange, but I didn't expect those people at the review meeting to do something somehow, and then they really gave him money. ”

Yanran is even more strange, didn't the jury say that they would go to the site to verify it again?

"I later heard that they went again, as if they had taken some kind of alternative. Draw a few of those accounts receivable and let them pay back the money first, which is all operated by the person next door, and he is now gone, it is terrible in retrospect, is it collusion? Then I was cheated by them, this matter is a big problem, but I will go to prison. After speaking, Sister Hua cried again.

Yanran understood, Sister Hua just helped to sign a contract, and the suspicious points found were also reported to the company, she comforted her and said: "Sister Hua, I don't think you have any responsibility in this matter, and they won't put all the responsibility on your head, the most important thing is the person next door who specifically reviews the project." ”

"Sister Hua, do you know how they verify the authenticity of accounts receivable?"

"I heard they went to verify the invoice contract, and the outbound list?"

"Didn't they go to the hospital to verify?"

"This is the biggest problem I think, they keep saying that the hospital is very strong and does not cooperate at all. It's not that the business department wants to do this business, and then somehow it's fooled, and if I come to review it, I must get confirmation from the hospital. Such a large amount of 100000000000000000000000 How long will this bad debt be cared for? ”

Yanran comforted Sister Hua and said, "No matter what, it doesn't have much to do with you, so don't worry too much." ”

"I don't think I have much responsibility, but I'm afraid that during the regulatory inspection, all the relevant personnel will be blacklisted, and now I have to punish him heavily. If that happens, then that's the end of my career. ”

"Sister Hua, don't worry too much, I think right and wrong can always be distinguished from black and white. I heard that the task force will come to interrogate, and if you say it then, I think it will be fine. Yanran comforted Sister Hua and smoothed her hair.

Sister Hua sighed: "Yanran, in this industry, you must be careful and cautious, business risk is to manage life, I have worked for so many years, I have been diligent and conscientious, I didn't expect to be planted in this matter." ”

Soon Yan Ran was called by the task force and prepared to rush to the scene of the pharmaceutical company immediately.

And the night before her departure, the latest news suddenly came, and many people in the entire asset management industry fell into this big pit, with a total overdue amount of nearly 10 billion.