Rebirth of the Official Business Route

The Nanjiao Industrial Park, which is located in the southern suburbs of Chengnan District and adjacent to the development zone, had only a factory two years ago. Lake invests in the construction of public systems, warehousing logistics and sewage treatment systems, while each factory is only responsible for the construction of production lines to form a complete production system. Most of the funds used come from the state's support funds for technical transformation projects of papermaking enterprises.

After the establishment of Shin Kong Paper Group, Zhang Ke overturned the M&A schedule previously agreed with Chint Group and planned to acquire all paper mills in a package. Fastest update of novel chapters

The M&A price negotiated with various paper manufacturers includes two parts. One is the net assets part. Since new plants are mostly prepared for construction, and the old plants’ land, plant and other assets are not within the scope of mergers and acquisitions. The net assets of the twelve paper mills within are only 60 million; the second is the premium paid by Kumho for the merger, including the premium paid for the intangible value of the original paper mill’s technical reserves, policy support, and agreed tax incentives. This part is asking domestic accounting firms to conduct a fair assessment. According to the standards of Shin Kong Factory, almost a total of 140 million premiums will be paid.

The package solution is that Kumho pays 60 million yuan equal to the net asset value of the merger and acquisition to the local finance including the Seongnam District Government within one year, and the premium is converted to ten-year corporate bonds. This will completely resolve the property rights in one fell swoop. The problem. "Fiction" novel chapters are updated fastest

The twelve paper mills are mostly district-owned enterprises, and the final approval right is in the city. One-by-one mergers and acquisitions will not attract attention. Just like the acquisition of Shinkong Mills, the other eleven mills have to be acquired all at once. In addition, Shin Kong Paper Group was speculating about 600,000 annual salary during this period, and many media in the province were watching. Xinguang Paper Group proposed a package solution, and Tang Xueqian could only bring this matter to the Municipal Standing Committee meeting for discussion.

Zhou Fu was discussing the project of forestry-paper integration with Xu Hongbo at Bajinzhen Yaoju. In the meeting room on the second floor of Building No. 8 of Wenshan Hotel, the meeting has been going on for several hours. At this local meeting, none of the nine standing committee members of the municipal party committee were left. Song Peiming, Zhang Zhixing, Kumho Holdings president Cai Yujuan, Shin Kong Paper Group President Zhou You, and Vice President Song Zhiyou, who had just joined Shin Kong Paper just half a month ago, were present.

There are three documents in front of everyone. One is an introduction to the basic financial situation and shareholding structure of Kumho Holdings, its subsidiaries Shin Kong Paper and Aida Electronic Land after the reorganization, and the second is the introduction of Zhang Ke through Shin Kong Paper. The second one is the forest-paper integration project book drafted by the travel organization and later revised by Song Zhiyou.

It is unacceptable for everyone, an 18-year-old boy, the son of Zhang Zhixing, secretary general of the city government. He has a wealth that no one can imagine, and this wealth has been accumulated in the past two years.

When he saw the document, Zhou Fuming said two sentences: "I know that the kid in Secretary-General Zhang's family is not simple, not simple..." Then, he seldom spoke. Regarding Zhang Ke, he may be one of the core figures in Tang Xueqian and Xu Xueping's family. As early as Xie Jiannan came back to visit him in Haizhou, he heard Xie Jiannan mention it... early November last year. The news that Aida Electronics competed against CCTV came back to the sea on the night. Xie Wanqing informed the city of the situation on behalf of Aida Electronics. Zhou Fuming had some numbers in his heart, but he did not expect Zhang Ben to be the main founder of Aida Electronics. At this time, he became the sole shareholder of Kumho,

Du Xiaoshan and Jin Guohai knew more about the situation, but it was only this time that they knew so specific.

The atmosphere in the conference room was a bit solemn. Cai Yujuan, Zhou You and Song Zhiyou were sitting in it, not feeling relaxed. Zhou You couldn't help but wonder what he was doing right now? Looking up at Zhou Fuming, the expression on his face is fairly calm. I couldn't see what he was thinking, presumably at the scale of Jintian, Zhou Fuming even wanted to wear small shoes. We must also carefully consider the rebound of Kumho.

Zhou Fuming didn't speak, and everyone else was silent. The documents are not thick. Zhou You and Song Zhiyou only explained it for less than an hour. During the rest of the time, everyone was looking at the documents in their hands. No one wanted to take the initiative to speak up. Always digest the news. Just work.

Zhou Fuming's heart was fluctuating, thinking of a lot of details that hadn't been noticed in the past. It is absolutely impossible to say how much favor Zhang Ke has. It is still surprising to feel that Zhang Ke has such a powerful method. Achievement. There is always a gap between people, and if there is no gap, people's social status will not be so different; it's just that Zhang Ke let others have too much difference.

"Well, everyone has been looking at the file for a long time

I have studied it many times. Whether I have studied it or not, everyone has a point of view..."

Of the three documents, only the second one can be seriously discussed in the city. Zhang Ke put forward a package solution through Shin Kong Paper.

Seeing that no one wanted to speak, Zhou Fuming turned his head and said to Tang Xueqian: "Xueqian, you are the mayor, so you first express your opinion..."

Tang Xueqian straightened up. After sitting for so long without speaking, people still felt a little lacking. He said: "In the past few years, more and more people have realized that the government is difficult to perform the role of corporate management. The reform of the state-owned enterprise system is the general trend. Various places are exploring different paths, and they are taking a path. The package solution proposed by Shin Kong Paper is also a path. As long as it is possible to better fundamentally solve the problems that have been exposed by state-owned enterprises, it is worth trying... "

Kumho Paper Mill competed for state support funds for technological transformation, built a new plant, and invested in a sewage treatment plant, which to a large extent alleviated the environmental pressure faced by Haizhou City. This package solution cleanly solved the leftover property rights. problem.

Liu Yiguang, deputy secretary of the Municipal Party Committee, saw that Tang Xueqian turned his attention to others when he said this, and he must have asked others to speak for him. The industry group will take the road of higher debt operation, which is somewhat similar to the original operating model of Aida Electronics described in the document. Even if Kumho injects the first 60 million yuan of acquisition money into Shin Kong Paper, Shin Kong Paper’s net assets It is only about 120-30 million, but the responsibility is as high as 450 million, of which the local government holds 140 million corporate bonds, and the national paper industry technology has a total of 310 million. Change to support loans, with a debt ratio of nearly 80%, Shin Kong Paper can still be as lucky as Aida Electronics, just catching up with the industry?"

With the implementation of this plan, the financial risks of Shin Kong Paper's high-debt operations will bring certain risks to the part of the corporate bonds in the hands of local governments.

6 Everyone understands the meaning of Yiguang's words, but no one answers his words.

In 1996, the State Council had a rigid regulation on asset valuation for the transfer of state-owned small and medium-sized enterprises. The acquisition price should not be lower than the net asset value of the transferred state-owned enterprise. Kumho acquired these paper companies, except for the initial payment equal to the net asset value of 60 million yuan. In addition to cash, one hundred and forty million corporate bonds were paid to the local government as a premium for mergers and acquisitions, and the government did not leave any legacy for the issue of employee placement. Even if corporate bonds pose a certain risk, it still seems to be Throughout the 1990s, Haizhou City encountered the easiest and most agreeable business.

Du Xiaoshan said: "I don't think it can be considered a loss as long as the first 60 million yuan is obtained. Besides, for the 140 million corporate bonds, Shin Kong Paper also has to pay an annual interest rate of more than 10 million yuan a year. It is still very impressive. Even if there are any mistakes in the operation of Shin Kong Paper, the company's debt is guaranteed to be repaid first..."

6 Yiguang’s eyes fell on the third document ~www.readwn.com~The investment plan that Shin Kong Paper actually threw out, saying: "The form of corporate debt is also a new attempt. We should not rest on our laurels. If the first payment of 60 million yuan can be paid before the implementation of the forest-paper integration project, this package plan will probably not be able to pick up any problems..."

The current Aida Electronics is a cash cow, but milking also takes time. Aida Electronics will spend most of the funds for its own development, and Shin Kong Paper will also increase a portion of its working capital. Once the forestry-paper integration is launched , It is necessary to continue to take money out, and Xie Wanqing must continue to draw money out of the preparation of private schools. With so many things together, even if Aida Electronics is a first-class cash cow, it will feel great pressure.

Everyone looked at Cai Yujuan and then at Zhang Zhixing. Zhang Ke shrank his head and did not show up. Cai Yujuan was Zhang Ke's official representative, but everyone thought that Zhang Zhixing might be more able to speak on behalf of his son.

Zhang Zhixing turned a blind eye to everyone's gaze, his eyes drooping, and he calmly stared at the documents on the table. The wealth of Zhang's name was really scared when it was exposed. For someone else, there will be a lot of worries about whether this wealth will be entrusted to others. Zhang Zhixing is no exception, but he rationally refrains from asking. The company's affairs, also agreed with his wife Liang Gezhen, not to intervene in the company's affairs, Zhang Ke will handle it alone, good or bad, the result of intervention is usually worse.