Chapter 750 Dayuan Understands

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

Soon their uneasiness was confirmed.

Tang Wanxin stood 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 yuan, and the debt of the industrial sector has accumulated to 23 billion Chinese yuan.

The total debt of Delong Group is 57 billion Chinese yuan.

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

In other words, we still have 17 billion Chinese yuan of debt that cannot be filled."

As soon as these words came out, there was an uproar in the conference room.

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

What puzzled them even more was that when Delong was in trouble, the wise thing to do should be to hide the real financial situation as much as possible to facilitate the introduction of strategic investors.

Now that Tang Wanxin took the initiative to expose it, it is certain that as soon as today's meeting is over, Delong's real financial situation will be spread tomorrow.

All the capital that had negotiated with Delong before will either retreat or the conditions will be more stringent.

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

But knowing this, he still chose to expose himself, which makes people curious about the reason.

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

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

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

Basically, everyone had a copy.

"This is the balance sheet of the entire Delong Group prepared by Lao Xiao, you can take a look."

Xiao Yang, wearing gold-rimmed glasses, said seriously: "I assure you that every number in this information has been repeatedly calculated by our Finance Department, and there will be absolutely no mistakes or omissions."

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

Everyone flipped through it, and the lines of arrears and debts were shocking.

Zhang Yeguang put down the information and looked at Tang Wanxin with a serious expression.

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

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

Others also looked over, with inquiring eyes.

Tang Wanxin said in a deep voice: "I understand your confusion. The reason why I told you Delong's balance sheet is mainly based on two points.

First, to eliminate those investment institutions that are just filling in the numbers or just want to take advantage of the opportunity and are of no help in solving Delong's predicament.

They will only waste our time, energy and wealth, and will not bring any benefits.

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

As soon as these words came out, it was like a bomb, shaking all Delong shareholders' faces.

Buzz....

The discussion instantly filled the entire conference room.

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

Took a deep breath.

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

Zhang Yeguang's question is what everyone wants to ask.

Tang Wanxin said calmly: "Everyone is familiar with the organization that acquired Delong Group. It is 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 said secretly, '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.

The cooperation between the two parties is very pleasant.

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

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

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

In fact, the fund share of Hanhua Capital is a little sweetness given by Xu Liang to the directors of Delong Group in order to make the acquisition go smoothly.

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

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

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

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

The reason why he took the initiative to expose the balance sheet of Delong Group was to dispel the fluke mentality of other directors in the company.

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

It may even be only Xu Liang with strong capital.

Without such understanding, even if they are willing to sell Delong to Xu Liang, their decision will still not be passed if others disagree.

"That's not necessarily true. Among the companies we are currently in contact with, whether it is JP Morgan or AIG, their strength is higher than Hanhua Capital.

They may not be unwilling to take over Delong.

Also, although Delong is in serious debt, our assets are scarce. Even if we want to sell 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 old stocks.

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

Legal representative of Jingcheng Huikeying High-tech Co., Ltd., legal representative of Zhuzhou Xiang Torch Environmental Protection Technology Co., Ltd., and legal representative of Jingcheng Jizheng Yuren Water Co., Ltd.

From this long list of titles, it can be seen that he is a core senior executive within the Delong Group.

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

A fat man in a suit said.

His name is Zheng Rongxin, and he is the supervisor of Xiang Torch.

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

At once, six or seven people agreed.

Tang Wanxin saw it and frowned slightly.

Like all large groups, Delong also has power struggles.

People who know Delong know about the "Dayuan Meeting".

That was in May 1997, when the Delong Board of Directors held a meeting at the Dayuan Hotel in Beijing.

Through this meeting, Delong established the "strategic route for industrial integration".

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

The 27 people who participated in the Dayuan Meeting were also nicknamed the "27 Generals of Dayuan" by people inside and outside Delong.

These 27 people are the well-deserved leadership core of Delong.

However, these 27 people are divided into two major factions due to differences in regions, management concepts and other factors.

The first faction is the old brothers who followed Tang Wanxin from Xinjiang Province when Delong started.

They are old and powerful. Although they can't keep up with the needs of Delong's development in the later period, they are quite willing to Tang Wanxin, who was still in the old relationship, still let them occupy high positions, which can be called "conservatives" or "Western Regions".

Most of the "old fighters" of Delong outside Xinjiang Province joined later. Although there are some good and bad ones, they are generally better than those when Delong started. This part of people can be called "innovators" or "Guan Nei Faction".

Those high-end talents who joined after Delong developed undoubtedly prefer the "Guan Nei Faction".

The core of the conservatives is Zhang Yeguang.

The representative of the reformists is Nie Xinyong.

It should be said that there is also a middle faction within Delong. They do not form parties and are dedicated to doing business.

Although there are not many people, they are all outstanding.

The representative is Delong veteran "Huang Ping".

Now Nie Xinyong has raised the banner of opposition, and naturally has the support of many "Guan Nei Faction".

"Xinyong, we have been in contact with Morgan and AIG for a long time. Who doesn't know what these foreigners are thinking?

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

Nie Xinyong's face changed slightly.

Morgan and AIG's recent performance does not seem to be able to bear the loss.

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

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

He changed the target casually and could not produce convincing evidence. It is easy to give people the impression that he deliberately blocked the acquisition to satisfy personal purposes.

He turned his eyes and gave a wink.

Zheng Rongxin saw it and immediately said: "Mr. Tang, even if Morgan and AIG are not good, we still have state-owned enterprises."

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

Ning Haoning or Li Yaoxian?

Are they willing to gamble their political future for Delong?

Not to mention private enterprises, the total liquidity they have is less than one-tenth of Delong's total debt. "Tang Wanxin said calmly.

His words made the atmosphere in the conference room quiet.

Yes.

There are very few institutions that can bear the 57 billion Chinese yuan 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 with black-framed glasses asked.

Tang Wanxin's face turned cold. As Delong gradually collapsed, he clearly felt that his prestige within the company was not as good as before.

Who would dare to question his decision so publicly before?

Chief Financial Officer Xiao Yang was about to speak, but was stopped by Tang Wanxin.

The other party's gun was obviously aimed at him, so there was no need to let his old subordinates take the blame for him.

"Fu Zhong, do you suspect that I fabricated Delong's financial information?"

As the chairman of Shenyang Alloy Investment Co., Ltd., Fu Zhong is a die-hard "Guan Nei Faction".