Four Hundred and Twentieth Chapters Open Conditions
"After signing in for three years, my identity as Shenhao was exposed ()"!
If someone else can become the chairman of Runhai Photovoltaic, I will definitely be very happy.
Regardless of whether the company can turn a profit or not, the salary will not be less.
But Yang Chen didn't want to be the chairman of Runhai Photovoltaic.
A company specializing in photovoltaics has an annual loss of up to 5 billion. Whoever takes over is stupid.
Director Zhao said with a smile: "This is of course good news. Runhai Photovoltaic is one of the key enterprises built by the Haicheng government. We will give full support. What is lacking now is a capable leader. Who is more suitable than you when looking at the entire Haicheng? Are you right?"
Yang Chen: "Don't make trouble, I will take over Runhai Photovoltaic at this time, then I will wait for my reputation to fall apart. I'd better manage my Haicheng Wind Power, I really don't have that much energy to manage Runhai Photovoltaic."
Director Zhao: "The Haicheng State-owned Assets Supervision and Administration Commission has already studied it, and you are the chairman of the board. You can tell me how you can accept this appointment. Say it with confidence, and we will do our best to satisfy you. "
There are two reasons why Yang Chen is reluctant to take over Runhai Photovoltaic Group.
First, the main business of Runhai Photovoltaic is photovoltaic power generation, which conflicts with some of the business of Haicheng Wind Power Group.
Second, Runhai Photovoltaic lost 1.5 billion in the first quarter, and the annual loss is 5 billion. It is on the verge of delisting, which is obviously a mess.
Whoever takes over it at this time is a fool.
Because companies with so many losses cannot turn losses into profits within a year and a half.
However, the securities law will not be changed for Runhai Photovoltaic. After the company's stocks continue to lose money, they will be forced to delist according to regulations.
It's already April, and Yang Chen accepts it at this time, which means that he has to earn at least 5 billion in the remaining 8 months of this year to make up for Runhai Photovoltaic's previous loss.
Once Runhai Solar is delisted, the company will not be far from bankruptcy and liquidation.
Yang Chen didn't want to destroy his reputation, so that people thought he had ruined Runhai Photovoltaic.
However, nothing is absolute.
If Haicheng SASAC can provide enough support,
Yang Chen is willing to try it.
The big deal is to sell the photovoltaic business of Haicheng Wind Power Group to Runhai Photovoltaic, which can completely help Runhai Photovoltaic turn losses into profits within the next eight months.
In fact, the State-owned Assets Supervision and Administration Commission has also carefully considered whether Yang Chen can save Runhai Photovoltaic after taking over.
After discussion, everyone agreed that as long as Yang Chen is willing to spin off the photovoltaic business of Haicheng Wind Power, and then package it and sell it to Runhai Photovoltaic, the problem can be solved.
This is also the reason why Haicheng State-owned Assets Supervision and Administration Commission must have Yang Chen take over Runhai Photovoltaic.
They can take these into consideration, and Yang Chen can also take into account of course.
If he wants to sell Haicheng Wind Power's photovoltaic business, he must give him enough benefits in exchange.
Yang Chen: "Since the leaders are so sincere, I will try it out. However, all the leaders know how serious the problem of Runhai Photovoltaic is. It is obviously unrealistic to expect me to save it alone. Therefore, the Haicheng government You have to give me a lot of support in many ways.”
Director Zhao: "Of course, as long as you are willing to take over, any conditions can be opened. As long as it can satisfy you, we will definitely do our best to satisfy it."
Yang Chen: "Okay! Then I'm welcome. Let me do my best to save it, and I have to give me the corresponding harvest. I want at least 51% of the equity of Runhai Photovoltaic, and I have a veto right on the board of directors. Haicheng State-owned Assets Supervision and Administration Commission must stand with me unconditionally. In terms of debt, the money owed to the bank, you will take care of it, and the group and I will not bear it. The supplier's payment for goods and other private loans are borne by the company. Beginning this year, it will continue for five consecutive years. All taxes and fees are exempted, and more than 80% of the financial subsidy budget of the photovoltaic industry is obtained. As long as these conditions are met, I am willing to take over Runhai Photovoltaic and make it turn losses into profits within eight months.”
These conditions are not without harshness.
In particular, it is very difficult for Haicheng State-owned Assets Supervision and Administration Commission to handle the money owed to the bank.
With bank loans of more than 3 billion yuan, how can Haicheng SASAC handle it?
Director Zhao: "Other conditions can be agreed, but the bank loan must be discussed with you. I have checked that Runhai Photovoltaic's total loan from the bank is as high as 3.56 billion. So much money does not mean that it can be waived. Yes."
Yang Chen: "There's no other way. I'm already willing to take on the supplier's payment for goods and personal loans. I've done my best. There is no reason for me to bear the company's previous losses and debts. I'll give you an idea to force Liu Wanqi to sell his hands. Equity in the company to cover these debts.”
Director Zhao: "The stock price of Runhai Photovoltaic is only 1.3 yuan. He has only 900 million shares in total. Even if he sells it at the current price, it is only 1.1 billion. Compared with the 3.5 billion bank loan, it is still a lot worse."
The difference as high as more than 2 billion, Haicheng SASAC can not afford to lose.
But Yang Chen is definitely not willing to take on this part of the debt.
Director Zhao thought of a way to let Yang Chen's investment company buy this part of the debt at a discount.
Yang Chen took a loan from the bank in the name of Xiaoguang Hospital Group to supplement this part of the loan.
Because of the preferential policies given to Yang Chen by the Haicheng government, the trillion-dollar loan used to build Xiaoguang Hospital will be interest-free for three years.
With such an operation, Yang Chen can get the 3.5 billion loan at a very small price.
As compensation, Haicheng was the State-owned Assets Supervision and Administration Commission that sold part of the equity to Yang Chen at a low price, and asked Liu Wanqi to donate the equity to him.
After making up for it like this, Yang Chen actually won't suffer much.
This year, Runhai Photovoltaic will be able to make a profit, and next year will be able to make a lot of money. Dividends alone can make up for this difference.
Yang Chen smiled and said, "Director Zhao can explain such a complicated method in such a clear and coherent manner. It seems that you have studied it at a meeting. Is every choice I make now within your calculations?"
Director Zhao: "Ha Hui... Director Yang is joking. Our SASAC think tank will definitely give you a solution in advance. These are our suggestions, and the final decision is in your hands."
Since the words are all for this sake, Yang Chen will not be polite to him.
"Okay! The 18% stake held by Liu Wanqi was donated to me, and the State-owned Assets Supervision and Administration Commission gave me another 5% stake. I invested in Runhai Photovoltaic in the name of Xingchen Investment Company, and the 3.5 billion bank loan was sold to Xingchen at a price of 2.5 billion. Investment in exchange for 45% of the equity. After all the procedures are completed, I hold 68% of the equity of Runhai Photovoltaic. Is there a problem?"
According to the Securities Law, if the shareholding ratio reaches more than two-thirds, the company can have absolute control over the company.
The 68% stake is obviously more than two-thirds. According to this plan, Yang Chen will realize the absolute control of Runhai Photovoltaic Group.
In the future, all decisions of the company will be made by him alone, and do not need to be voted through by the board of directors or the general meeting of shareholders.
This is fair to Yang Chen. He is trying to make the company turn a profit, and of course he wants to get the most benefits.
Director Zhao: "This... Your shareholding ratio has risen to 68%, which means that our Haicheng State-owned Assets Supervision and Administration Commission must give up some equity and drop it to about 10% to meet your requirements. This..."
Yang Chen: "67% is my bottom line. If this ratio is still not enough, then you should hire another person."
Director Zhao certainly knew that Yang Chen's goal of insisting on at least 67% of the equity was to absolutely control the company.
Although he expected that Yang Chen would definitely open his mouth, he didn't expect it to be so big.
Yang Chen used the bank's 2.5 billion interest-free loan to obtain a 67% stake in Runhai Photovoltaic, turning Runhai Photovoltaic, which was originally a state-owned enterprise, into a private enterprise.
This is a big deal, and Director Zhao doesn't dare to give an answer lightly.
Director Zhao: "Director Yang, I need to discuss it here. I will give you an answer before it gets dark. Okay?"
"No problem, you guys think about it slowly, I'm not in a hurry." Yang Chen replied with a smile.
In the world, there is no second person who dares to take over Ruhai Photovoltaic, so Yang Chen doesn't need to worry too much.
After hanging up the phone, Director Zhao hurriedly reported to the leader and held an emergency meeting to discuss whether Yang Chen's conditions could be met...
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