After breaking up with my boyfriend, I made a fortune and rose rapidly in my career.
Chapter 147 He treated bad debts like shares, and creditors were scrambling to collect them!
After that night at Jinghuxuan, the atmosphere at the High-tech Zone Management Committee changed drastically.
The news that Wang Wansheng had been taken away for investigation by the provincial discipline inspection commission made everyone extremely cautious. Hu Jinshan immediately took sick leave, and his office door was locked.
Those deputy directors who used to work for Hu Jinshan now greet Chen Pingfang with smiles and polite attitudes from a distance.
But Chen Pingfang knew that the fundamental problem lay in the 12 billion yuan debt. Solving Wang Wansheng's problem was useless; as long as the debt issue remained unresolved, the trouble would continue.
That morning, the largest conference room of the High-tech Zone Management Committee was packed with people.
Chen Pingfang summoned the bank president, the construction company owner, the material suppliers, and all the creditors of the Xin Huo Industrial Park together.
The meeting room was full of people, and the air was thick with the smell of smoke. No one was speaking.
"Director Chen, what exactly do you mean by calling us here today? Give me a straight answer: when are you going to pay us back?" A burly boss slammed a payment reminder on the table, his voice booming.
"Yes, we're almost out of money to pay our workers' wages. If we run out of money soon, we'll have no choice but to sit in front of the city hall."
"The bank loan has also matured, and if the High-tech Zone doesn't repay it, we have no choice but to take legal action and seize the assets."
For a moment, the conference room was filled with questions and shouts.
Zhang Chao stood behind Chen Pingfang, nervously wiping the sweat from his hands. The scene made him a little unsteady on his feet.
Chen Pingfang sat in the main seat, his face expressionless. Only after everyone had finished shouting and the conference room had quieted down a bit did Chen Pingfang pick up the microphone and slowly begin to speak.
The voice wasn't loud, but everyone in the conference room heard it clearly.
"Everyone, I understand how you feel. I've invited you all here today to solve this problem."
Chen Ping looked around at everyone present and slowly said, "First of all, on behalf of the management committee, I would like to clarify one thing for everyone."
Everyone perked up their ears.
"The management committee currently has no money in its accounts."
These words immediately caused chaos at the scene.
"What?"
"Why are you holding a meeting if you don't have money? Are you kidding us?"
"Director Chen, at your age, you can't be like Hu Jinshan and his gang, spouting bureaucratic jargon."
Chen Ping raised his hand and pressed it down.
"Everyone, please don't panic." His voice remained steady. "I said we don't have the money because the management committee will no longer use the old methods of robbing Peter to pay Paul or selling land to pay off the debt."
Chen Ping paused for a moment, then came up with a solution that surprised everyone.
"I have a new solution. I call it debt-to-equity swap."
"Debt-to-equity swap?"
In the conference room, most people were stunned, not understanding this new term. Several bank managers frowned, their eyes full of doubt.
"To put it simply," Chen Ping stood up, walked to the whiteboard at the back, picked up a pen, and said, "The debts you all hold can be converted into shares in a new company at a certain ratio. This new company will take over all the assets of the entire Chipfire Industrial Park, and I will personally manage it."
"Are you kidding me?" The construction boss was the first to jump up and object. "We're here to get our money, not to play your investment game. A deserted industrial park, a bunch of dilapidated buildings, I wouldn't even take it for free, let alone as equity!"
"That's right, we only want cash."
Opposition has resurfaced.
Chen Pingfang seemed to have anticipated their response and smiled instead.
"Do you all think the Chipfire Industrial Park is worthless?" Chen Pingfang countered. "What if I told you that Huaxin International, a leading domestic semiconductor company, has already decided to move into the park?"
Huaxin International.
The moment the name was mentioned, the expressions of several bank managers changed instantly.
That's a domestic tech giant, a listed company with a market value of hundreds of billions.
"Impossible," a bank manager immediately retorted. "Huaxin International's industrial bases are all in the north, how could they possibly come to a small place like our Nanzhou?"
"Actions speak louder than words." Chen Ping smiled and said to the conference room door, "President Li, please come in."
The meeting room door was pushed open.
A man in a dark suit walked in. He was followed by a professional team.
Everyone present from the banks and financial institutions was stunned.
Li Wenbo, Chief Strategy Officer of Huaxin International.
They had all seen this person in financial news.
Li Wenbo walked up to Chen Pingfang, spoke into the microphone, and said directly, "Hello everyone, I am Li Wenbo from Huaxin International. As resolved by the board of directors, Huaxin International will cooperate with Nanzhou High-tech Zone to jointly establish Nanzhou Xinhuo New Materials Technology Co., Ltd."
He pushed up his glasses and glanced at the speechless creditors.
"We chose this location because, according to a secret evaluation by our technical team, the infrastructure of the three factory buildings in the Chipfire Industrial Park far exceeds the specifications and standards of the blueprints, reaching the level of a world-class chip laboratory. This is of great value to one of our very important projects."
Li Wenbo's words made everything clear to everyone.
It turns out that Hu Jinshan and his group used exceptionally high-quality materials and built a laboratory to a very high standard in order to raise money. They intended to just fool people, but they never expected it to become such a valuable asset.
Chen Pingfang continued, "Huaxin International will contribute its technology and some equipment as equity, holding 30% of the new company's shares. Your claims will become the new company's initial public offering (IPO) shares. The 12 billion debt will become the 12 billion investment."
"Now, who is willing to become a partner of Huaxin International and an initial shareholder of a company that could potentially have a future market value of hundreds of billions?"
The entire conference room fell silent immediately.
Everyone stared at Chen Pingfang, their breathing became heavy, and their eyes were full of light.
"I...I agree." The construction boss who had been shouting the loudest earlier was now speaking haltingly, and was the first to raise his hand, as if afraid that if he was a step too slow, he would miss the opportunity.
"Our bank agrees as well."
"agree."
The situation suddenly reversed.
……
At the same time, in a private sanatorium on the outskirts of the city.
"Bang!"
Hu Jinshan smashed the purple clay teapot in his hand to the ground, scattering shards everywhere.
"Debt-to-equity swap? Huaxin International? Is Chen Pingfang some kind of god?" Hu Jinshan was so angry that his face turned pale, and he was panting heavily.
He had been setting up this scheme for so many years, and it seemed like he was about to finish it off by monetizing the land. But then Chen Ping did this, and not only did he lose all his money, but the factory that held the secret was about to be taken over by Huaxin International.
Once Huaxin International's technicians get inside and discover the traces of ASML equipment, everything will be over.
"We can't let him succeed." Hu Jinshan's eyes were red as he grabbed the phone and dialed a number.
"Old boss, save me! That kid surnamed Chen is going to cause a huge uproar. If you don't step in, we're all doomed."
There was a long silence on the other end of the phone before a slightly hoarse voice said, "What's the panic? He wants to perform, but he needs a stage. I have my own arrangements."
After hanging up the phone, Hu Jinshan breathed a slight sigh of relief and smiled, but it looked cold.
Kid, you think you've won just by bringing in Huaxin International? You're too naive.
However, his smile didn't last three seconds before his secretary rushed in, pushing open the door in a panic.
"Director Hu... something terrible has happened!"
"What is it?" Hu Jinshan roared impatiently.
The secretary handed over her phone with trembling hands; it displayed a newly popped-up news notification.
"The Provincial Party Committee Office just issued a notice..." The secretary's voice trembled. "Next Monday, Governor Zhou will personally visit the High-tech Zone to inspect the pilot work of state-owned enterprise reform in the Chipfire Industrial Park."
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