My 1999

Chapter 750 Da Yuan understands

Everyone saw this and felt a sense of uneasiness in their hearts.

Soon their uneasiness was confirmed.

Tang Wanxin, who straightened up, took a deep breath and said in a deep voice.

“As of now.

The debt of Delong's financial sector has accumulated to 34 billion Chinese dollars, and the debt of the industrial sector has accumulated to 23 billion Chinese dollars.

Delong Group has total liabilities of 57 billion Chinese dollars.

Delong's actual assets are only about 40 billion Chinese coins.

In other words, we still have a debt of 17 billion Chinese dollars that cannot be repaid. "

As soon as this statement came out, there was an uproar in the conference room.

Everyone knew that Delong's financial situation was very bad, but they never expected it to be so bad!

What puzzles them even more is that when Delong is in trouble, the wise thing to do is to try to hide the true financial situation to facilitate the introduction of strategic investors.

Now that Tang Wanxin has taken the initiative to expose himself, it is certain that as soon as today's meeting is over, Delong's true financial status will be revealed tomorrow.

All the capital that had previously negotiated with Delong either backed down or the conditions became more stringent.

As the leader of Delong, Tang Wanxin would not be unaware of this situation.

But even though he knew it, he still chose to expose it, which makes people curious about the reason.

As an old man from Delong, Zhang Yeguang couldn't help asking immediately.

"Mr. Tang, is Delong's financial situation really as bad as you say?"

Tang Wanxin waved his hand, and the secretary standing behind him stood up and handed out the information he had prepared in advance.

Basically everyone has one.

"This is the balance sheet of the entire Delong Group prepared by Lao Xiao. You can take a look at it."

Xiao Yang, who was wearing gold-rimmed glasses, said sternly: "I assure you that every number in this information has been repeatedly calculated by our finance department, and there will never be any errors or omissions."

As the chief financial officer of Delong International, this is the guarantee he must provide.

Everyone looked through it and saw row after row of arrears and debts, which was shocking to see.

Zhang Yeguang put down the information and looked at Tang Wanxin solemnly.

"Mr. Tang, I believe that with your ability and wisdom, you must be very clear about the significant impact that producing this information at such a critical moment will have on Delong's subsequent financing!

But you still do it, I want to know the reason? "

Others also looked over, with questions in their eyes.

Tang Wanxin said solemnly: "I understand your confusion. The reason why I tell you Delong's balance sheet is mainly based on two points.

First, we must put an end to those investment institutions that are just trying to take advantage of the situation, or that do nothing to help solve Delong's predicament.

They will only waste our time, energy and wealth without bringing any benefit.

Second, I have found an investment institution willing to take over Delong. "

As soon as these words came out, it was like a bomb that shocked the faces of all Delong shareholders.

Buzz….

The discussion instantly filled the entire conference room.

Zhang Yeguang's eyes quickly swept over Tang Wanli and Tang Wanping. Looking at their calm expressions, it was obvious that the Tang family had reached a consensus.

Take a deep breath.

"Mr. Tang, I wonder which organization is willing to take over the Delong Group? What are the conditions?"

Zhang Yeguang’s words are also what everyone wants to ask.

Tang Wanxin said calmly: "Everyone is familiar with the institution that acquired Delong Group. It is currently the world's largest private equity fund, Hanhua Capital, and Mr. Xu Liang, the third richest man in the world according to Forbes."

Zhang Yeguang secretly said, "Sure enough."

Delong Group has had many transactions with Hanhua and Xu Liang before.

Huiyuan, Sanwei Mining, JJ Disco, etc. are all capital acquisitions under Xu Liang.

It was a pleasure to work with both parties.

Coupled with the huge capital owned by Xu Liang and Hanhua, they are the only ones in the country who can acquire the Delong Group, which is insolvent and has a net debt of 17 billion Chinese dollars.

“The conditions of Hanhua Capital and Mr. Xu Liang are very simple. They will fully take over all the debts of Delong Group so that everyone can exit safely.

In addition, at my strong request, Mr. Xu Liang agreed that the private equity fund under Hanhua Capital will leave you a certain share. "

In fact, the fund share of Hanhua Capital was a sweetener given to the directors of Delong Group by Xu Liang in order to make the acquisition smooth.

But this does not prevent Tang Wanxin from taking credit for himself.

"Mr. Tang, do you mean that Xu Liang and Hanhua will not give us a penny, but they want to take away the entire Delong Group?"

The person who spoke had a slender face, a pair of gold-rimmed glasses, a high brow bone and long and narrow eyes, and his eyes looked particularly sharp.

"Xinyong, do you think with Delong's current situation, who else but Mr. Xu will take over this mess?" Tang Wanxin said calmly.

The reason why he took the initiative to expose the Delong Group's balance sheet was to dispel the chances of other directors within the company taking any chances.

With such high debt, there are very few institutions willing to take over the Delong Group.

It may even be only Xu Liang who has strong capital.

Without this understanding, even if they were willing to sell Delong to Xu Liang, but others disagreed, their decision would still fail.

"This is not necessarily true. Among the companies currently in contact with us, whether it is JP Morgan or American International Group, their strength is greater than that of Hanhua Capital.

They may not be willing to take over Deron.

Moreover, although Delong is heavily in debt, our assets are scarce. Even if we want to sell them to Hanhua and Xu Liang, we must strive for better conditions. "

Nie Xinyong is currently the chairman, legal representative and general manager of Xiang Torch, one of the three oldest companies.

Legal representative of Beijing Zongfu Real Estate, legal person of Zhuzhou Torch Piston Pin Co., Ltd., and legal person of Modu Heda Auto Parts Company.

The legal persons of Jingcheng Hui Keying High-tech Company, the legal persons of Zhuzhou Xianghuo Environmental Protection Technology Company, and the legal persons of Jingcheng Jizheng Yuren Water Co., Ltd.

It can be seen from this long list of titles that he is a core executive within the Delong Group.

"I think Mr. Nie is right, Hanhua's investment should be cautious!"

A fat man in a suit spoke.

His name is Zheng Rongxin, a supervisor of Hunan Torch.

"We should talk to Morgan and AIG first. If they really can't come up with better terms, it's not too late to talk to Hanhua."

For a time, six or seven people all agreed.

Tang Wanxin saw this and frowned slightly.

Like all large groups, power struggles are inevitable within Delong.

Anyone who knows Delong knows that ‘Da Yuan knows what he means’.

That was in May 1997, Delong's board of directors held a meeting at the Dayuan Hotel in Beijing.

Through this meeting, Delong established the ‘strategic line for industrial integration’.

The Tang brothers have always touted the "Dayuan Conference" as the "Zunyi Conference in the history of Delong's development."

The twenty-seven people who participated in the Da Yuan meeting were also jokingly called the "Twenty-Seven Da Yuan Generals" both inside and outside Delong.

These twenty-seven people are Delong's well-deserved leadership core.

But these twenty-seven people are divided into two major factions due to differences in region, management philosophy and other factors.

The largest faction is the old brother who came out of Xinjiang Province with Tang Wanxin when Delong started his family.

They were senior and powerful. Although they could not keep up with Delong's development needs in the later period, Tang Wanxin, who was nostalgic for his old feelings, still allowed them to occupy high positions. They can be called the "old school" or "Western Region School".

Most of Delong's "veteran warriors" in the non-Xinjiang Province joined later. Although there are some mixed results, they are generally better than those when Delong started his career. This group of people can be called the "renovation faction" or the "Guannei faction."

Those high-end talents who joined after Delong developed, undoubtedly preferred the 'Guannei School'.

The core of the conservative faction is Zhang Yeguang.

The representative of the reformists is Nie Xinyong.

What needs to be said is that there is also a centrist within Delong who are not party-minded and focus on business.

Although the number is small, their abilities are outstanding.

The representative among them is Delong veteran ‘Huang Ping’.

Now that Nie Xinyong has raised the banner of opposition, he has naturally won the support of many "Guan Nei faction".

"Xin Yong, we have been in contact with Morgan and AIG for more than a day or two. Who doesn't know what these foreigners have in mind?

Before Delong's balance sheet was released, they kept lowering the price. When today's balance sheet is released, do you think they will risk a 57 billion loss to acquire Delong Group? " Tang Wanxin sneered.

Nie Xinyong's expression changed slightly.

The recent performance of Morgan and AIG does not seem like they can afford losses.

What's more, Delong's debt hole is too big.

Subconsciously, I wanted to mention state-owned enterprises, but I stopped talking.

He changes targets at will and fails to provide convincing evidence. It is easy for people to give the impression that he deliberately blocked the acquisition to satisfy his private goals.

He turned his eyes and passed with a wink.

Zheng Rongxin saw this and immediately said: "Mr. Tang, even if Morgan and AIG fail, we still have state-owned enterprises."

"State-owned enterprise? Which state-owned enterprise is willing to shoulder Delong's 57 billion Chinese yuan debt hole?

Ning Hao Ning or Li Yaoxian?

Are they willing to risk their political future for Delong?

Not to mention private enterprises, the total working capital in their hands is less than one-tenth of Delong's total debt. Tang Wanxin said calmly.

His words silenced the atmosphere in the conference room.

yes.

There are currently very few institutions that can bear the 57 billion Chinese currency hole of Delong Group.

Hanhua, which has a large amount of cash flow, may be the only one.

"Mr. Tang, is the total debt of Delong Group really 57 billion?"

A middle-aged man wearing black-rimmed glasses asked.