After two days of on-site inspections and visits, Chen Erdong roughly figured out the working principle of the project, but this was not enough to support him to report to Deng Xiangxiang.

The biggest crux of the practical BT model for land consolidation is whether the government can pay on time, if it can ensure this, as long as there are no major problems in the construction process, it is indeed a good project.

But this happens to be the most difficult point for Chen Erdong to confirm, and it involves a lot of investment, so there really can't be the slightest mistake.

Du Yu thought that the financial situation of Minjiang Town was difficult for them to understand, so he told Chen Erdong that he would inquire through his family's connections.

Chen Erdong has not been idle, he has repeatedly studied the red-headed documents of Shuanghua County and Minjiang Town, and consulted a large number of relevant materials and cases on the Internet, and in less than a week, he has a lot of experience in land consolidation projects.

A few days later, Tong Yuemin asked Deng Xiangxiang to attend a project briefing held by the leadership team of Minjiang Town with him, but Deng Xiangxiang said that she did not have time.

Tong Yanyan criticized Chen Erdong as worthless in front of Tong Yuemin, Lao Tzu naturally believed in his son, when this word reached Deng Xiangxiang's ears, she did not respond, but just told Tong Yuemin to let Chen Erdong attend on her behalf.

The project will be explained by more than Tong Yuemin, there are many people who are interested in this piece of meat, and there are many middlemen who have no money but want to make money by reselling news, in Jincheng dialect, this is called "wearing through".

Tong Yanyan was taken aback when he saw Chen Erdong sitting in the conference room, why is it still him? Is there no one under Deng Xiangxiang's hands?

The focus of the conference was on the annual return on investment and the way in which the principal of the investment was returned, and everyone's attention was focused on the three to four year project cycle, how much money could be made in the end, but little mention of the safety of the funds.

With elders like Tong Yuemin here, Chen Erdong spoke very little, and he listened carefully to the demands of each company. Tong Yuemin said that as long as Minjiang Town can give an annual rate of return of 12%, the project period is three years, and the principal will be returned in the form of 5:3:2 after the land is completed, he will invest.

His return requirements and the way to return the principal are the most generous among all the companies present, and he is not afraid to show his hole cards, and if other companies want to negotiate with the government on his terms, he can still adjust.

This meeting could not discuss the results, let alone let Minjiang Town choose which private capital to cooperate with, the government's intention was purely to let them express their opinions and listen to the attitude of enterprises.

The next day, Deng Xiangxiang asked Chen Erdong to go to her office to talk about land consolidation. Stepping into the embarrassing office again, it was the female secretary who led him in, Chen Erdong was a little embarrassed.

However, Deng Xiangxiang doesn't have such a good memory, or even if she does, she can be completely ignored, and only talks about the things in front of her, which is the gap brought about by the different age patterns.

"Mr. Tong came to me last night, the conditions given by the government are good, I looked at his fund calculation table and project plan, he is willing to invest, I also think it is okay."

"Auntie, if it is under the current conditions, I don't think it is safe."

Deng Xiangxiang was stunned, could he see that something was wrong?

"If the annual return is 12%, in three years, the project will invest 200 million, and the profit will reach 36%, that is, 72 million, I don't know your source of funds, if calculated according to the interest on funds, your capital cost will rise by about 10 points, that is, 220 million."

Chen Erdong suddenly felt that he had said a little too much, and he was afraid that Deng Xiangxiang would not be able to hear it, so Deng Xiangxiang waved his hand and continued.

"In the first three years, you invested 220 million yuan, and it will take three years to recover the principal, but your return is only 12% per year for the first three years, which is equivalent to a total of six years for the completion of the entire project plus the return of funds, that is, the real rate of return is only 6% a year."

Deng Xiangxiang nodded and said, "Drink saliva first and then continue." Chen Erdong did so, and a mouthful of fragrant bamboo leaves was warm and refreshing.

What Chen Erdong wants to express is that it seems that it costs more than 200 million to earn 72 million in three years, but in fact, it costs more than 200 million to earn only 12 million a year, and it takes six years to earn it.

"It makes sense, but the profits of the construction industry are low, if you can collect money steadily, even if it takes six years, this money is worth more than putting it in the bank, and I can't use this money to make financial investment, the risk is greater, in addition to these, is there any other problem?"

Deng Xiangxiang was impressed by Chen Erdong, although his rhetoric did not completely convince her to reject the investment, Chen Erdong's perspective and meticulousness were far stronger than Tong Yuemin's.

"Auntie, if I can really guarantee the collection, I won't come to talk to you so much, what I'm worried about is Minjiang Town's ability to repay after three years."

"Can the government still give money?" The government's endorsement is the biggest motivation for Deng Xiangxiang's willingness to do this project, but Chen Erdong questioned it.

"The government will not settle its debts, but the government has its problems." Chen Erdong elaborated on the industrial distribution, GDP, and fiscal revenue of Shuanghua County, and finally concluded that Minjiang Town may be powerless.

Part of the summary of this information was inquired by himself, and the other part was told to him by Du Yu after inquiring, and the source was very accurate.

The two of them chatted on the phone for more than an hour, and came to the common conclusion that it is possible that the investment may not be recovered on time as expected, and the result is that the profits due to the enterprise will be slowly eroded by the interest on the funds, and even turn positive into negative, towards losses.

"Then according to you, this thing can't be done?" In the face of Chen Erdong's reasonableness, Deng Xiangxiang completely listened to his words, and she was glad that she let Chen Erdong go to the outpost.

"Not necessarily, auntie, I'll show you a picture." Chen Erdong took out a few half-sized drawings from his bag.

This is a land planning map of Shuanghua County, which indicates the nature of the land, the auction price, and the location of the land that has not yet been auctioned. Deng Xiangxiang was puzzled and asked him what he meant.

Chen Erdong said: "Even if you don't consider the payment and profit, the actual income of 220 million is 72 million, this money is dead, even if you and Mr. Tong make some profits in the construction, it will not exceed 80 million." ”

Deng Xiangxiang didn't understand, as shrewd as she was, there would be a blankness in her eyes.

"I am familiar with the policy, and I also refer to the practice of land consolidation in some places in other provinces, when we hand over the land to the government after the land is sorted out, the land can be included in the planning, once it is included in the planning, it can be sold, but the policy of the provincial department can be replaced with land for enterprises after consolidation."

"Land? And then what? Deng Xiangxiang seemed to think of something.

"Aunt, Shuanghua County will be a key development area in the future, a large amount of residential land is planned, Jincheng will get bigger and bigger in the future, basically most people will move over there, you have a piece of land in your hand, do you think it is only worth 72 million?"

Deng Xiangxiang suddenly realized that this Chen Erdong was really not simple, when their eyes were still limited to casting a bait to catch a few fish, Chen Erdong had already thought of contracting a fish pond.

"This point, I guess there will be other people who know, but at least in the companies that compete with us this time, no one seems to have seen it, the land is sorted out by us, and we should have the right to replace it first, and there is no money to give the land a matter of course, it is nothing more than looking at our vision, can we choose a good plot, do you say yes?"

"Looks like my daughter has a good eye." Deng Xiangxiang smiled meaningfully.

This is the highest praise Chen Erdong has ever heard, and he is happy in his heart. However, this matter is not as good as he said, and the content of today's conversation is just a brick throw, and if you really want to decide whether to invest, you need to be more cautious in calculation and planning.

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Chapter 132: Impressive Free Reading.