Chapter 749 Compromise

Tang Wanxin was silent. He was the one responsible for Delong's situation, and he had no responsibility for it.

"Lao Wu..."

"alright."

Tang Wanli interrupted the brothers.

"The matter has been settled. There is no point in being beaten by Lao Wu. Now I have recruited you all here to discuss a solution."

"Brother, is there any other solution?"

Tang Wanchuan said helplessly, "The total assets of Delong Group are only about 40 billion, and it is already insolvent.

In this case, besides bankruptcy, what other good options do we have? "

Tang Wanping nodded in agreement.

"There is still a way." Tang Wanli told Xu Liang's conditions.

"Did he really say that?" Tang Wanchuan asked.

"Um."

"Brother, since he is willing to accept all of Delong's debts, what are we waiting for? It is only right to get rid of this big burden as soon as possible." Tang Wanping said.

"Third brother is right. Now Delong is like a sinkhole to our Tang family. If we don't get rid of it, our Tang family will be swallowed up by it sooner or later." Tang Wanchuan agreed.

Tang Wanli glanced at them, "Have you ever thought about why a shrewd person like Xu Liang would be willing to accept the insolvent Delong Group?"

Tang Wanchuan and Tang Wanping looked at each other, each seeing confusion in the other's eyes.

"Brother, is there any chance for Delong to turn around?" Tang Wanchuan asked.

"Lao Wu knows best whether Delong can turn over," Tang Wanli said.

Tang Wanxin felt bitter in his heart when he looked at the eyes that were turned to him.

"Eldest brother, third brother, fourth brother, if I could make Delong turn a profit, we wouldn't be where we are now."

"Then why does Xu Liang want to acquire Delong while taking on losses?" Tang Wanping asked.

Tang Wanxin said: "I have thought about this issue before. The reason why he wanted to acquire Delong was most likely because of Delong's industrial layout.

Although Delong has huge debts, Hunan Torch is China's largest heavy-duty vehicle manufacturer and the largest auto parts manufacturer.

Alloy Co., Ltd. is the largest manufacturer of electromechanical tools in China, and after acquiring Maori Company, it will also become the third largest garden tool manufacturer in North America after acquiring the other party's channels and technology.

Tunhe is the world's largest tomato paste manufacturer.

Tianshan Co., Ltd. is the third largest cement manufacturer in China.

Zhongyan Co., Ltd., Shancheng Industrial, Denong Group, etc. also occupy important positions in their respective fields.

This huge industrial asset is an industrial territory that we have worked hard for more than ten years to build.

Although Delong's industrial assets and liabilities are huge, they are not production and operation liabilities.

Delong's industrial assets are operating in a very healthy manner. Although the profit margin is not high due to incomplete integration and insufficient R&D investment, it does not generate too much debt.

The liabilities of Delong Industrial's assets are basically structural debts arising from mutually guaranteed loans.

As long as the debt is stripped off, Delong's industrial assets have huge development prospects.

I think these are what Xu Liang really values.

He made so much money financially that DeLong's debt, while huge, was not a huge amount to him.

Moreover, he is in finance and has many ways to optimize Delong's debt. "

After Tang Wanxin finished speaking, Tang Wanli and others thought for a moment and basically agreed with what he said.

"Xu Liang has this idea, and other institutions have similar ideas. Maybe we can get better conditions from others?" Tang Wanchuan said.

After Tang Wanxin thought for a moment, he shook his head.

"Basically impossible."

"Why?"

"It's very simple. Delong Group's liabilities are too huge. Those large global conglomerates will not risk losing tens of billions to eat up the entire Delong Group.

They also don’t want all of Delong’s industrial assets.

They will wait until Delong Group goes bankrupt and then acquire part of the industrial assets of Delong Group at a minimal cost.

It's in their best interest.

The main reason why Xu Liang is different from them is that Hanhua basically earns all his money and he has autonomy.

He is willing to bear the current losses and pursue Delong's long-term interests. "

As the helmsman of the Delong Group, Tang Wanxin has both vision and ability.

The only thing missing is that he was born in China.

If it were in the United States or other countries with relatively complete financial laws and regulations, the outcome might be different.

Tang Wanli looked at the youngest brother in the family, who was also the best.

"So you plan to agree to Xu Liang's request?"

"Brother, I can't think of a better way."

Tang Wanxin's expression darkened and his tone became sad.

“When my mother left, she gave her many instructions: She didn’t ask us to have much money, she just asked us to be safe and healthy.

I still remember this sentence in my heart. "

Tang Wanli's expression changed slightly.

He instantly recalled Xu Liang's last words when his brothers left the Hanhua Center.

The cabinet decided to arrest people in patrol houses, collect loans from the central bank, and administratively close Delong.

A long sigh.

Tang Wanli's voice was hoarse, "Then sell it."

"Brother, fifth brother, is there really no room for redemption?" Tang Wanping couldn't help but ask.

"Yes, brother. Can we sell some of our assets to get cash flow to repay those urgent debts, and then pay back the rest slowly?" Tang Wanchuan said.

"If this could solve the problem, Lao Wu and I would have done it long ago, and we wouldn't have to wait until now." Tang Wanli sighed.

The four brothers were silent.

——

Although the Tang brothers decided to sell the company, they couldn't just sell the Delong Group.

Within Delong International, the four brothers' combined shares only accounted for 33.7%, although they had a veto.

But when it comes to the big deal of buying and selling the company, more shareholders' consent is needed.

No. 1155 Yuanshen Road, Magic City, in the meeting room of Delong International headquarters.

Forty-three shareholders with voting rights of Delong International gathered here.

Among them were veterans like Huang Ping, Zhang Yeguang, and Nie Xinyong who had accompanied Delong out of Xinjiang Province, as well as new recruits like Zhang Long, Gao Qi, and Zhou Xinchang who joined later.

Everyone gathered together. In normal times, they would definitely talk and speak loudly, but today everyone bowed their heads and looked solemn. Except for a few coughs occasionally, there was no movement.

As the top executives of Delong, they were well aware of Delong's current predicament.

They also deeply felt that the big ship was slowly sinking.

As shareholders of Delong, once Delong went bankrupt, they would not only have to bear huge financial losses, but also have to consider where to go to beg for food next.

It would be strange if they could be in a good mood.

The slightly chaotic footsteps interrupted everyone's thoughts and attracted everyone's attention.

Under everyone's attention, the four Tang brothers strode in.

"Mr. Tang...!"

Everyone stood up and greeted them.

There was earnestness in their words. They urgently hoped that Tang Wanxin, the strong man who led Delong to where it is today, would come up with a solution and lead Delong out of the predicament.

Tang Wanxin strode to the center, Tang Wanli sat on his left, and Tang Wanping and Tang Wanchuan sat below him in turn.

The first person on Tang Wanxin's right was Huang Ping, the executive president of Delong International Strategic Investment Co., Ltd., the president of the industrial fund, and a 6.7% stake in Delong International.

Huang Ping's subordinate was Wang Hong, who was once a director of Northern Securities and also held a 6.7% stake in Delong International Strategic Investment Co., Ltd.

Below Wang Hong was Zhang Yeguang, the legal representative of Deheng Securities Co., Ltd., who also holds 6.7% of Delong International's shares.

The three of them hold the same 6.7% of shares as Tang Wanli, Tang Wanchuan and Tang Wanping.

According to the tradition of Huaxia's board of directors having more power than the management.

Huang, Wang and Zhang are undoubtedly the three giants within Delong.

Tang Wanxin's deep eyes slowly swept over each director, as if to imprint their appearance in his heart.

His performance made the people around him secretly guess, and they were somewhat confused about the thoughts of the big boss of Delong.

"Everyone, please sit down."

Tang Wanxin waved his hand.

Everyone sat down with different thoughts.

"Recently, there are many rumors about Delong outside, and there are also many institutions that are demanding debts from us Delong. More people, including our own people in Delong, are very concerned about whether Delong Group is really insolvent and on the verge of bankruptcy as the outside world has said.

Today I gathered everyone together just to give you a real bottom line."

Everyone was stunned for a moment, and their expressions were different.

They thought that they were called here in a hurry to discuss how to solve the current predicament of Delong.

Unexpectedly, Tang Wanxin not only did not follow their ideas, but also wanted to show off his family assets?

For a while, they could not figure out Tang Wanxin's thoughts.

"Delong has been developing since 1994. It has been 11 years.

In the past 11 years, we have worked together and spared no effort. The company has developed rapidly. Now it has more than 500 affiliated companies and nearly 300,000 employees. It is currently the largest financial and industrial complex group in China.

The book assets are nearly 120 billion Chinese yuan, which is a top large consortium even in the world.

All this is the result of your hard work.

I, Tang Wanxin, sincerely thank you for your contribution to Delong."

After saying that, he stood up and bowed deeply to everyone.

Everyone felt the sincerity in his words. In addition to being surprised, Huang Ping hurriedly said.

"Mr. Tang, you are too polite. Without the platform of Delong, none of us would have achieved what we have today."

"Delong's success has made us successful, and Delong's success today is all due to Mr. Tang's wise leadership."

"Mr. Tang, Delong is our common home."

...

Most people expressed their loyalty.

But the few who knew the inside story of Delong watched coldly and sneered in their hearts.

Tang Wanxin saw it and felt a little guilty.

After signaling everyone to calm down.

"Thank you very much for your love for Delong and me. I, Tang Wanxin, feel ashamed of you all. Over the years, I have not developed Delong well, but let its debts pile up, to the point where it is now irreparable.

This is my fault, and I, Tang Wanxin, apologize to everyone."

Speaking, Tang Wanxin bowed again.