Soon.
The seven quotations were neatly placed on Board of Directors and Long Table.
Zhao Chen sat in the main seat and glanced at the people present:
Shen Jue, Chen Xi, Zhang Qingxue, Song Zhongping, Liu Mingyu, Sun Zhengping, Xu Yong, Wu Hongyuan.
"You have the final quotation from Xifen in front of you."
He spoke, his voice steady,
"CICC Capital 2.48 billion, Ping An Real Estate 2.52 billion, Runshang Investment 2.5 billion, Jiahe Assets 2.6 billion."
He paused:
"Today is not a vote, it is a discussion. If you have any opinions, just say it."
Meeting Room was quiet for a few seconds.
Sun Zhengping was the first to speak, with a calm voice:
"Let me ask a few questions first. Jiahe is 2.6 billion, which is nearly 100 million higher than the second place.
Can their financial strength support this offer?"
Chen Xi answered:
"We have checked that Jiahe's funds mainly come from Southeast Asia and several Family Office, and the first installment has been deposited into the domestic custody account.
Funding is no problem."
Sun Zhengping nodded and asked again:
"What about the background?"
Zhang Qingxue pushed up his glasses:
"The registered address is Cayman Islands, but Ultimate Beneficial Owner cannot be found after penetration.
But their investment record is very clean, and all three Yangtze River Delta projects were successfully exited. There is no stain."
Sun Zhengping pondered for a moment:
"Ultimate Beneficial Owner cannot be found... What do you think about this?"
Xu Yong spoke:
"From an investment perspective, as long as the funds are compliant, blurring the background is not a fatal problem. Many overseas funds have this structure."
He paused:
"And the price of 2.6 billion has exceeded our expectations.
If it is rejected due to background issues, can other companies give this number?"
No one answered.
Ping An 2.52 billion, China International Capital Corporation 2.48 billion, and Runshang 2.5 billion.
Even less than 2.6 billion.
Song Zhongping didn't say anything for a while, then he spoke:
"I don't understand all the twists and turns, so let me ask - is 2.6 billion real gold Silver?"
Chen Xi nodded:
"Yes."
Song Zhongping said:
"Then what's the point of discussing? Whoever bids the highest price sells to whom, it's a matter of course."
Shen Jue said nothing in the song.
She leaned back in her chair, with the quotations spread out in front of her, and her eyes paused on the page of Jiahe for a few seconds.
Then she spoke:
"I support peace."
Meeting Room was quiet for a moment.
Everyone looked at her.
Shen Jue's tone was very calm:
"Ping An's offer is only 80 million lower than Jiahe, but their background is clearer and their funds are more stable.
In the long run, working with such a buyer will have less risk."
She paused:
"Of course, this is just my personal opinion."
Zhao Chen looked at her and said nothing.
He knew that Shen Jue had something to do with Ping An - she had said before that she knew several of the people in charge of Ping An Real Estate.
But her statement at this moment is not a "connected household" type of support.
What she said makes sense.
Sun Zhengping thought for a while and said:
"What Director Shen said makes sense. But from a business perspective, the price difference of 80 million is not a small amount."
Xu Yong nodded:
"I agree. 80 million is enough to buy several projects.
Giving up 80 million for a 'clearer background' cannot be justified by the shareholders."
Zhang Qingxue opening:
"From a legal perspective, as long as Jiahe's funds are in compliance, vague background is not a reason for rejection.
We can ask them to add some guarantee clauses to the agreement, such as funds being provided in batches, liquidated damages being doubled, etc."
Chen Xi added:
"Yes. And they quoted 2.6 billion, which shows that they are determined to get this asset.
We can take advantage of this and strive for more favorable delivery conditions."
Song Zhongping said:
"Then it's settled. Whoever pays more will sell it to whom."
Shen Jue said no more.
She just glanced at Zhao Chen, and there was something complicated in her eyes - as if she was saying "I have expressed my stance, and you decide the rest."
Zhao Chen was silent for a few seconds.
Then he spoke:
"Let's vote. If you agree with Jiahe, please raise your hands."
He raised his hand first.
Chen Xi Raise your hand.
Zhang Qingxue Raise your hand.
Song Zhongping Raise your hand.
Liu Mingyu Raise your hand.
Sun Zhengping and Wu Hongyuan thought for a while and also raised their hands.
Xu Yong Raise your hand.
The last one is Shen Jue.
She was silent for two seconds and then raised her hand.
Eight hands, unanimous vote passed.
Liu Mingyu recorded on the side:
"Jiahe Assets, Board of Directors was approved with a quotation of 2.6 billion.
Next step - pay the deposit and start Due Diligence."
Zhao Chen nodded:
"Chen Xi, notify Jiahe to pay the deposit within three days. One hundred million, not a penny less."
Chen Xi nodded:
"Understood."
Zhao Chen looked at Zhang Qingxue:
"You will take the lead in Due Diligence's cooperation. All information is open for them to check.
But there is one thing - the core Financial Data can only be viewed, not copied."
Zhang Qingxue pushed up his glasses:
"Understood."
Zhao Chen leaned back on the chair and let out a long breath.
The sale of the property has finally come to an end.
But he didn't let everyone break up.
He glanced at Liu Mingyu.
Liu Mingyu understood, took out another document from the document bag and distributed it to each director.
Shen Jue looked down and was stunned for a moment:
<Research report on investment opportunities in Live Pigs breeding industry>
She raised her head and looked at Zhao Chen:
"Board of Directors The one you mentioned last time?"
Zhao Chen nodded:
"Yes. I've let you go back and think about it for a week. Now it's time to hear your opinions."
He paused:
"In the next two to three years, there is a high probability that pork prices will rise.
Henglong Do you want to participate? How to participate? I want to hear your opinions today."
Meeting Room was quiet for a few seconds.
Sun Zhengping flipped through the report and frowned slightly:
"Chairman Zhao, I am a supervisor and I am quite sensitive to the cycle.
What is your basis for judging that Pig Cycle will come?"
Zhao Chen indicates Chen Xi.
Chen Xi stood up and walked to the whiteboard:
"Three figures.
First, the stock of Sows of Breeding Age is currently about 7% higher than the normal stock, but it has begun to decline month-on-month.
Second, the price of feed, corn, and soybean meal has increased by more than 20% in the past year, and small retail households cannot bear it. More than 300,000 retail households have quit breeding in the past year.
Third--"
She paused:
"The complete cost of leading enterprises is around 15.5 yuan/kg, and the industry average is 16.5 yuan. The current pig price has been hovering near the cost line.
According to historical rules, if it lasts for another half to one year, the supply will clear and prices will rise."
Sun Zhengping After listening, he nodded:
"The data is very solid."
Song Zhongping closes the report and opens the first connection:
"Chairman Zhao, I'm the first to say it.
I have read all the information you gave me last time, and there are three options - raising it yourself, raising it through cooperation, or investing in others. I think raising it by yourself is the most enjoyable."
He clapped his fingers:
"We have been doing engineering for so many years. Isn't it a piece of cake to build a few pig farms?
You raise it by yourself, earn it by yourself, and the profits are all your own, and you don't need to share them with others."
Xu Yong shook his head:
"Mr. Song, raising pigs is not building a building.
Disease prevention and control, feed formula, breeding technology - we don't understand these.
Muyuan can achieve the lowest cost in the industry because they have accumulated decades of experience.
If we raise our own pigs, we will suffer a big loss if one pig dies."
He paused:
"I tend to C, Strategic Investment.
Find a knowledgeable team, we invest money and let them do the work. The risks are controllable and the returns are considerable."
Sun Zhengping thought for a while:
"C is good, but the question is where to find such a team? Good pig companies are all targeted by capital, and it's not our turn."
Chen Xi answered:
"We have shortlisted several.
Henan has a company called 'Zhongke Animal Husbandry'. The founder is Tsinghua, who has a Ph. D. in biology. His technology is very good, but he lacks funds for expansion. He is currently in contact."
Sun Zhengping nodded:
"If there is such a target, C is indeed worthy of consideration."
Song Zhongping is still not convinced:
"How much can you get if you invest in others? They eat meat, and we eat soup.
Raise it yourself, eat it, clean it, and it's all your own."
Xu Yong laughed:
"Mr. Song, do you know how much Wens's 'company + farmers' model can expand in a year?
If you build your own farm, it would be good to be able to produce 500,000 head per year in three years.
If you invest in someone else, the capital will be in place within three months, and the production capacity will be ready."
The two of them go back and forth, but no one can convince the other.