If you want to buy those companies at a low price, the core problem is the debt problem.

Many companies will take the debt as part of the capital, to put it bluntly, the commercial bills on Hengtai's side cannot be cashed, so the realization of the commercial bills by selling the company is the best way - when Jiang Zheng bought Yisheng Media, didn't he also take the debt?

But the buyer is not stupid, how can such a thing be easily agreed? There must be a lot of price reduction.

The reason why Hongji Building Materials agreed, to put it bluntly, was because of Shen Hong.

Shen Xueyi didn't say anything about being with Li Xianyun, she just told her father that Li Xianyun would support her next, but hoped that Shen Hong could help in selling the company.

It makes everything look like a deal: you give up the company, but I guarantee your daughter a bright future.

It sounded reasonable, but Shen Hong didn't know that his little padded jacket was about to be used by Li Xianyun to keep warm.

For the sake of his daughter's future, of course he agreed.

With this "internal response", Li Xianyun quickly understood everything about Hongji, coupled with Shen Hong's lobbying and the persecution of creditors, several bosses of Hongji finally agreed to sell Hongji building materials at a price of 35 million.

With the 100 million commercial bill and the 75 million debt.

In other words, Li Xianyun is equivalent to using 110 million to win Hongji Building Materials and the 100 million commercial ticket. Considering that Hongji Building Materials has a debt of 100 million and 40 million, it is good to count 60 million in itself, so the commercial bill is equivalent to 50 million.

This is already more to take care of Hongji building materials.

Of course, Hongji Building Materials will not think that they are making cheap, they also feel that their company if it does not encounter this kind of thing, it can still be regarded as a profitable enterprise, and selling at cost price is a loss.

As for how much of this 100 million commercial ticket can be cashed out, it is difficult to say.

As a listed company, Hengtai Group has many enterprises under its jurisdiction, including the financial industry, technology industry, and even the beverage industry, etc., with a total market value of 2.6 trillion yuan and a debt of 230 million yuan.

The debt ratio is as high as 88.6 percent, which is higher than the 85 percent of the original World Evergrande.

As for the current debt-to-asset ratio, it is even more terrifying. Its current assets are 2 trillion yuan, while its current liabilities are 2.15 trillion yuan, and the debt ratio is as high as 1007 percent, which is typical of insolvency.

Short-term debt is even more ruthless!

This includes a large number of commercial bills, bank loans, and various wealth management funds in the financial industry.

As for the stockholders?

I'm sorry you don't belong to the creditor, you call investment risky!

In other words, if all the Hengtai Group is sold, the debts can almost be repaid.

But in reality it is not possible.

Once the asset is sold, the price will be lowered, and if 2.6 trillion assets can be sold for 1.6 trillion, you will be awesome.

Second, what should shareholders do?

Then it will be completely lost.

This is a typical double kill of stocks and bonds.

In fact, since the explosion of Hengtai, their stock price has fallen rapidly, and the market value has directly evaporated by 300 billion, and it continues to fall all the way.

The company is on the verge of difficulties, and everyone is like a wolf and a tiger, just like Huayou back then.

The big companies that weren't affected were thinking not about how to help Hengtai get through the storm, but how to gnaw the fragrant fat from the carcass of the giant beast.

Li Xianyun: What they have to think about now is how to devour Hengtai.

Debt repayment for businesses is also not so simple, with a lot of detail to consider.

For example, the debtor corresponding to the creditor's rights of wealth management products is the financier and the guarantor, Hengtai Wealth Management Company;

The purchase contract corresponds to Hengtai's project development companies in various places;

The debtor corresponding to the commercial bill is the acceptor of the commercial bill, that is, the project development company of Hengtai Real Estate.

Although they are all subsidiaries of Hengtai Group, they are legally independent of each other, which means that when they repay their debts, they repay their own debts.

If there is a construction project on the land, and the construction party has not received the project payment, and Hengtai has made a mortgage on the construction project, then the priority of the construction party will take precedence over the bank according to the law.

If the commercial bill obtained by the construction party cannot be cashed, then it can claim its rights according to the priority of the construction project price, but not according to the bill, because the right of the bill itself has no priority.

However, if the commercial bill is obtained through a supply contract, then the ordinary claim can only be claimed in accordance with the law of negotiable instruments without priority.

It can be seen that the priority of claims varies from enterprise to enterprise.

The reason why Li Xianyun is willing to take over Hongji Building Materials, in addition to the relationship with Shen Xueyi, another important factor is that the acceptor of Hongji Building Materials is Hengtai Real Estate.

And this part is a hard asset, the value of which is relatively fixed.

Not to mention anything else, Hengtai alone has several real estate projects in Jiangcheng, including some undeveloped land.

Li Xianyun is the head snake of Zexian County, but he doesn't mind upgrading himself from the head snake of Zexian County to the overlord of Jiangcheng.

Therefore, according to Li Xianyun's meaning, the creditor's rights on Jiangcheng's side can be appropriately taken over, until the final liquidation is completed, and Hengtai's property on this side will be taken over.

But it's not easy to do it well.

Now Hengtai is also a variety of drags.

Because Hengtai's current situation is too big to fall down - if they fall, a group of people will have to jump off the building.

Therefore, Hengtai is now the same as Evergrande in the original world, and has launched four sets of plans to reduce debt, reduce expenditure, increase income, and sell assets.

Debt reduction: It is to use its own funds to repay debts.

Expenditure reduction: It means that the land acquisition will be reduced this year.

Increase revenue: It is to introduce war investment and fundraising, and accelerate sales and collection.

The sale of assets does not need to be explained.

The four sets of plans seem to be working hard, but in fact, except for the fourth, they are all nonsense.

Debt reduction is an end, not a means.

You say that I reduce my debt by reducing my debt, which is like saying that I get a job by working, isn't this nonsense?

It's the same with reducing land acquisition, why do you owe a lot of debt, and how much money do you have to take land?

It's like a wage earner with a monthly salary of 2,000 yuan saying that I want to increase my savings this year by not buying a house.

It is still nonsense to increase income, whether you owe debts or not, you have to increase your income, the key is that the plan is nonsense.

Bringing in war investment and fundraising? How many sober minds are investing in you at this time? Why don't you let the one who returns home next week vote? After all, you also voted for him back then, so you two brothers should vote for each other.

Accelerate sales and collections? Which business isn't trying to sell? If you don't explode thunder, this thing will also be done.

The above three are to make up the numbers, the in the nonsense, do some financial means, and then say that I have actual operations. : Fun Cabinet

It boils down to the essence: it's still selling assets.

It's a pity that Boss Xu is not Boss Wang, Boss Wang saved himself with a broken arm back then, it was a timely rescue, but he didn't wait for the thunderstorm to save himself, even so, the seller sold it very cheaply - although the two companies that got the assets at a low price did not operate any good fruits, but there were also reasons why the buyer's boss did it himself.

Now that Hengtai has exploded, the scavenging vultures can give half of the price is about human nature.

In addition, the assets of the two parties are also different.

Boss Wang's assets were relatively high-quality, and his hotels, cultural tourism and commerce were all good assets, most of which were located in the city center, with high valuations and market prospects.

Hengtai Real Estate's assets include real estate and land, some of which have not yet been developed, and some of the locations are not very good, even if they are taken down, they will have to spend a lot of money to develop, and even if their properties and other assets are sold, it is difficult to find a receiver in the short term.

But it is also what Li Xianyun values.

All he wanted was land.

Tourism doesn't need to be in the city center, where the attractions are, there are people. What's more, Yisheng Media now has more and more employees, a large number of outsiders are pouring in, and its residence itself is becoming a problem.

Even if it is the internal demand of Yisheng Media, it can digest a large amount of land and real estate.

Therefore, the top priority is to understand the distribution of Hengtai real estate in Jiangcheng first.

As long as they have a good grasp of Hengtai's creditor's rights structure in the local development company and understand the list of local assets, they can make a price to acquire.

Fortunately, on this issue, Li Xianyun, as a creditor, already has the qualifications to come to the door to ask for accounts and unite people from all walks of life.

In the office, Li Xianyun patted the table and said: "Although Hengtai Group has exploded, it will not fall easily, and this matter will have to take a year and a half or even three and a half years." The next thing we have to do is to go to the door to ask for debts, sit at the door and cry and grab the ground, and then contact all parties. What do you think? Who wants to do this? ”

Everyone looks at each other.

This is a debt-asking thing, and no one has ever done it.

However, he blocked the door every day to ask for debts, and when he was not short of money...... Feels like it's pretty good?

After all, Jiang Zheng smiled: "Then I'll be responsible." I'm originally from a building materials background, and now I'm in charge of a ghost town, so I guess I can meet a lot of old friends when I go there. By the way, Han Ping, you have to run more in the future, Pingshui Company can already operate independently, it's time for you to let go, you and Lao Feng have cooperated well recently, do this together, there is a head. ”

Han Ping was stunned: "What about the Yin Mansion Office?" ”

Shen Xueyi smiled and raised her hand: "I'll come!" ”

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