my crew is not human

Chapter 619
If you want to buy those companies at a low price, the core problem is the debt problem.

Many companies will use debt as part of their capital. To put it bluntly, Hengtai’s commercial bills cannot be cashed, so selling the company to realize the realization of commercial bills is the best way. Jiang Zheng bought Yisheng Media at the beginning. Also took on the debt?
But the buyer is not stupid, how could he easily agree to such a thing?Definitely lower prices.

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

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

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

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

Of course he agreed for the future of his daughter.

With this "internal response", Li Xianyun quickly understood all the situation of Acer, coupled with Shen Hong's lobbying and creditors' persecution, several bosses of Acer finally agreed to sell Acer Building Materials at a price of 500 million.

With the 500 million commercial note and the [-] million debt.

In other words, Li Xianyun is equivalent to using 1000 million to win Hongji Building Materials and the 4000 million business ticket.Considering that Hongji Building Materials has a debt of 6000 million yuan and a debt of 5000 million yuan, it can be calculated as [-] million yuan, so the commercial bill is equivalent to [-] million yuan.

This is already taking care of Acer Building Materials.

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

As for how much this [-] million commercial bill will eventually be cashed in, it is hard to say.

As a listed company, Hengtai Group owns many companies, including the financial industry, technology industry, and even the beverage industry, etc. Its market value is as high as 2.6 trillion yuan, but its debt is as high as 2.3 million yuan.

The debt ratio is as high as 80.00%80.00, which is higher than the [-]%[-] of the original World Evergrande.

As for the current asset-liability ratio, it is even more terrifying.Its current assets are 2 trillion yuan, while its current liabilities are 2.15 trillion yuan. The debt ratio is as high as [-]%, which is a typical insolvency.

Short-term debt is even more ruthless!
This includes a large number of upstream merchants' commercial bills, bank loans, and various wealth management funds in the financial industry.

As for shareholders?

Sorry, you are not creditors, you call investment risky!

In other words, if the entire Hengtai Group is sold, the debt can almost be repaid.

But it's actually impossible.

Once the asset is sold, the price must be suppressed. If 2.6 trillion assets can be sold for 1.6 trillion, you will be awesome.

Second, what should shareholders do?
That would be completely lost.

This is a typical stock and debt double kill.

In fact, since Hengtai's thunderstorm, their stock prices have fallen rapidly, and their market value has directly evaporated by 3000 billion, and they continue to fall all the way.

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

Those big companies that have not been affected are not thinking about how to help Hengtai tide over the difficulties, but how to gnaw delicious fat from the corpse of this giant beast.

What Li Xianyun and the others have to consider now is how to devour Hengtai.

The debt repayment of enterprises is not so simple, there are a lot of detailed considerations.

For example, the debtor corresponding to the creditor's right of a wealth management product is the financier and guarantor Hengtai Wealth Management Company;
The house 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, which is the project development company of Hengtai Real Estate.

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

If there is a construction project on the land, but the construction party has not received the project payment, and Hengtai mortgages the construction in progress, then according to the law, the construction party's priority will be higher than that of the bank.

If the commercial bill obtained by the construction party cannot be cashed, then it can completely claim its rights based on the priority of the construction project price, instead of the bill, because the bill itself has no priority.

However, if the commercial bill is obtained through the supply contract, it can only claim ordinary creditor's rights in accordance with the bill law and has no priority.

It can be seen that the priority of creditor's rights varies from company to company.

The reason why Li Xianyun is willing to take over Hongji Building Materials is that apart from Shen Xueyi's relationship, another important factor is that Hongji Building Materials' accepting party is Hengtai Real Estate.

And this part is a hard asset, and its value is relatively fixed.

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

Li Xianyun is a local snake in Ze County, but he doesn't mind being promoted from a local snake in Ze County to a local tyrant in Jiangcheng.

Therefore, according to Li Xianyun's intention, some of Jiangcheng's debts can be properly taken over until after the final liquidation, Hengtai's property here can be taken over.

But it is not easy to do this well.

Now Hengtai is also a variety of drag.

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

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

Debt reduction: It means repaying debts with its own funds.

Expenditure reduction: It is to reduce the acquisition of land this year.

Increase income: it is to introduce strategic investment and fundraising to speed up sales and payment collection.

Selling assets is self-explanatory.

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

Debt reduction is an end, not a means.

You say that I reduce my debt by reducing debt, which is like saying that I get a job by working, isn't that bullshit?
The same is true for reducing land acquisition. You owe a whole lot of debt, how much money do you have to acquire land?

This is like a wage earner with a monthly salary of 2000 yuan saying that I will increase my savings by not buying a house this year.

Increasing income is still nonsense. You have to increase your income whether you are in debt or not. The key is that the plan is nonsense.

Introduce strategic investment and fundraising?How many of you are sober enough to invest in you at this time?Why don't you ask the one who returns to China next week to vote?After all, you also voted for him back then, so you two should vote for each other.

Faster sales and cashback?Which business is not trying to sell?Even if you don't explode the mine, you still have to do this.

The above three are to make up the numbers, the nonsense in the nonsense, do some financial means, and then show that I have practical operations.

It comes down to the essence: it is still to sell assets.

It's a pity that Boss Xu is not Boss Wang. Boss Wang broke his arm and saved himself in time. He didn't wait until the thunder exploded to save himself. The company did not produce any good results, but there are also reasons why the owner of the buyer did it himself.

Now that Hengtai has exploded, it is humane that carrion vultures can offer half of the price.

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

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

The assets of Hengtai Real Estate include real estate and land, some of which have not been developed, and some of the locations are not very good. Even if they are acquired, they will spend a lot of money to develop them. Even if their properties and other assets are sold, it will be difficult to find a taker in the short term. .

But it was also what Li Xianyun valued.

All he wants is land.

The tourism industry does not need to be in the city center, where there are scenic spots, there will be popularity.What's more, Yisheng Media now has more and more employees, and a large number of foreigners are pouring in, and its residence itself is becoming a problem.

Even the internal needs of Yisheng Media can digest a large amount of land and real estate.

Therefore, the most urgent task is to first understand the distribution of Hengtai Real Estate's creditor's rights in the Jiangcheng area.

As long as they have a grasp of the creditor's rights structure of Hengtai's local development company and a list of local assets, they can make a purchase.

Fortunately, on this issue, Li Xianyun, as a creditor, already has the qualifications to come to the door to ask for accounts and unite with various people.

In the office, Li Xianyun patted the table and said: "Although Hengtai Group exploded with thunder, it will not fail easily. This matter will take a year or a half or even three to five years. The next thing we have to do is to come to the door to ask for help." It’s okay to sit at the door and cry, and then contact all parties. How about it? Who wants to do this?”

Everyone looks at each other.

No one has ever done this debt thing.

But blocking the door every day to ask for debts, in the fact that I am not short of money... It seems to be not bad?

After all, Jiang Zheng said with a smile: "Then I'll be in charge. I was born in building materials, and now I'm in charge of the ghost town. I reckon that when I go there, I should be able to meet many old friends. By the way, Han Ping, this matter You have to run around more in the future, Pingshui Company can already operate independently, and it's time for you to let go, you and Lao Feng have cooperated well recently, and doing this together is a good idea."

Han Ping was stunned: "What about the office in the yin house?"

Shen Xueyi smiled and raised her hand: "I'm coming!"

(End of this chapter)