At the same time, this morning, Hua Yu personally went to visit, and at this moment he was meeting and talking with the leaders of the Xincheng Local State-owned Assets Supervision and Administration Office, and the matters discussed were the affairs of Ruihe Pharmaceutical Group.

In the reception room, the leader of the State-owned Assets Supervision and Administration Office of Xincheng looked at Hua Yu and said unhurriedly: "The original Hengtong Pharmaceutical Group, now it should be said that it is Ruihe Pharmaceutical Group, which is one of the top 500 large enterprises in the mainland, and also the head enterprise of private pharmaceutical companies, and it is one of the largest enterprises in my new city, and it is not easy to grow."

The leader retracted his gaze and sighed, and after a while, he turned to look at Hua Yu and said firmly: "We can't let this company fall like this, we should and must distinguish Wang Qingxiong from Ruihe Pharmaceutical Group, Wang Qingxiong is naturally ruled by law, but for Ruihe Pharmaceutical Group, we should help and support as much as possible, so that Ruihe Group can regain its predicament as soon as possible."

Hua Yu nodded again and again: "The leader is really in one word, deeply critical, this turmoil is not only a disaster for Ruihe Group, but I believe that under the guidance and care of the leader and relevant parties, we will be able to quickly reborn, and we are also determined to clean up the residual poison of the Wang Qingxiong incident, so that Ruihe Pharmaceutical Group will usher in a rebirth, and reassume its due social responsibility and responsibility."

The two sides talked again for about ten minutes, and Hua Yu also said goodbye and left.

The trip was quite smooth, Ruihe Pharmaceutical Group successfully introduced the local state-owned assets of Xincheng to settle in, and Qunxing Capital discounted the overall valuation of Ruihe Pharmaceutical Group to 4.5 billion yuan, and transferred 19.98% of the equity to Xincheng local state-owned assets, which was valued at 899.1 million yuan.

The current reasonable valuation of Ruihe Pharmaceutical Group should be 13.5 billion yuan, that is to say, Qunxing Capital transferred the equity worth 2.7 billion yuan to the local state-owned assets of Xincheng for less than 9 billion, which is equivalent to a loss of 1.8 billion yuan or the local state-owned assets of Xincheng took over and made 1.8 billion yuan on the spot.

But did the stars lose? On the surface, it is definitely not a loss!

The introduction of local state-owned assets in Xincheng is a very crucial part of Ruihe Pharmaceutical Group's next step out of the predicament and regaining social trust, which is equivalent to having public endorsement, and at the same time, it is also of great help to the next listing of Ruihe Pharmaceutical Group on the Science and Technology Innovation Board.

Otherwise, it will be difficult to quickly revitalize this fund to get out of the predicament, and it may not come out if you throw 1.8 billion yuan into it, and it will be smashed in the collection.

Equity is not the more you pinch in your hand, the better, the cake needs wisdom to make it bigger, and how to divide the cake requires wisdom.

Wang Qingxiong has the ability to make the cake bigger, but he just planted a heel at the level of dividing the cake, and if he planted this heel, he would never have a chance to turn over and get up.

However, the introduction of state-owned assets does not mean that the direct transfer of 19.98% of the equity has passed, and it is at such a low price, it is inevitable that people will make irresponsible comments.

Fang Hong naturally wouldn't do such an upright operation.

The actual operation is that Qunxing Capital will set up another project company, which is still a new shell company, and then this project is a joint venture with the State-owned Assets Supervision and Administration Office, and the State-owned Assets Supervision and Administration Office will take 899.1 million yuan as a shareholding.

Ruihe Pharmaceutical Group is not a technical breach of contract, it is about to enter the judicial auction procedure, and Qunxing Capital will use a shell company to auction it at that time. ….

After the auction, the debt stripping will be carried out, and the 20 billion debts or non-performing assets that were previously stuffed into Ruihe Pharmaceutical Group will be stripped out, and then the assets will be replaced with the project company jointly established with the State-owned Assets Supervision and Administration Office.

In addition, does the State-owned Assets Supervision and Administration Office really have to pay 899.1 million yuan?

Hua Yu said that you don't even need to pay this money, the money will be put into the account of the joint venture project company first, and then make an investment in the name of Ruihe Pharmaceutical Group after completing the asset replacement with Ruihe Pharmaceutical Group, and the investment amount required for the project is probably about 2 billion yuan.

As a result, the investment in the project was not very smooth, and Ruihe Pharmaceutical Group needed a strategy because of its own development problems, so it unilaterally withdrew from the project, and the State-owned Assets Supervision and Administration Office agreed to withdraw from Ruihe and repurchase the equity or assets of Ruihe in the project.

invested 2 billion to come in, and when I finally exited, I only got about 1.1 billion, and I lost 899.1 million.

Coincidentally, isn't it?

Some things in the world are just that coincidental.

……

Tranquility Villa.

"The introduction of local state-owned assets in Xincheng has been negotiated, and in addition, Mr. Hua has also been in contact with Zhang Qi, the vice president of Xinhong Securities, and the listing plan of Ruihe Pharmaceutical Group has also been preliminarily launched......," Tian Jiayi, who came back from work, made a daily report to Fang Hong.

100% of the equity of Ruihe Pharmaceutical Group is actually still frozen by the bank, and the negative problem has not been resolved, although it has been almost a week since Wang Qingxiong was tortured, but public opinion has not completely cooled down.

In the eyes of the outside world, Ruihe Pharmaceutical Group or the former Hengtong Pharmaceutical Group is now in trouble, and even the so-called industry insiders predict that Qunxing Capital may be self-defeating, and it may fall into its own hands after spending so much effort, and the only thing to get is to kill a pharmaceutical group with a very good development momentum.

However, for Qunxing Capital, it doesn't care about these at all, because everything is under control.

After sending Wang Qingxiong to the sewing machine team to report, what impact it will have on Ruihe Group, these Qunxing Capital have long predicted, and how to deal with it in the future have corresponding strategies and plans.

At the moment, things are not going off the expected trajectory, so just go ahead with the plan.

Fang Hong looked at it for a while, then closed the materials and put them aside, nodded with satisfaction and said, "Hua Yu did a good job, just go as planned."

Regarding the listing of Ruihe Pharmaceutical Group, it must be handed over to Xinhong Securities for guidance and sponsorship of the listing.

According to the plan, the company is valued at 13 billion yuan, with a total share capital of 795.1 million shares, the issue price is tentatively set at 16.35 yuan per share, and the IPO issuance of 1834.3 billion shares, accounting for 23.07% of the company's total share capital, is expected to raise 3 billion yuan.

It is worth mentioning that the 23.07% equity ratio of the total share capital of the shares issued in this IPO is borne by Qunxing Capital, which means that the 19.98% equity of the Xincheng local state-owned assets office will not be diluted.

It seems that Qunxing Capital is very loss, but Fang Hong's vision is obviously not so short-sighted, all the layout and paving he has done to Ruihe Pharmaceutical Group are all in order to achieve the market value of this company to a height of 100 billion yuan in the future.

After the IPO, Qunxing Capital will take control of Ruihe Pharmaceutical Group, accounting for 56.95% of the company's total share capital, which can only reach the level of relative control, but not 67% absolute control.

However, on the issue of the control of the company, a concerted action agreement was signed with the Xincheng Local State-owned Assets Supervision and Administration Office, that is, voting with Qunxing Capital, so that 76.93% of the votes had absolute control over the company.

Xincheng local state-owned assets have never thought of control, accounting for 19.98% of the shares and not more than 20% of the proportion is already telling, and in a sense, the Xincheng local state-owned assets office almost no cost to get 19.98% of the equity.

Of course, strictly speaking, it can't be taken for nothing, the local state-owned assets of Xincheng are reflected in the intangible value, and to put it bluntly, it is endorsed by the public, which is worth so much money.

Without this, even if you want to go public, you may have to wait another two years.

After all, Ruihe Pharmaceutical Group now has so many negative problems, and it is already September, and it is only three months away from 2010, which means that Ruihe Group will land on the GEM in the next 15 months.

If it successfully exceeds expectations, it may be able to be listed within ten months.

These are the embodiment of intangible values.

…….

Zhao Ling Si Yu