At around three o'clock in the afternoon, Chen Xi opened the door of Zhao Chen's office:
"Zhao Zong, Director Shen are here."
Zhao Chen stood up. Before he could reach the door, Shen Jue had already come in by himself.
Today she wore a light gray suit with a black silk shirt, stilettos, and a windy walk.
After entering the door, I glanced at the office. My eyes stopped for a second on the river view outside Floor-to-Ceiling Window, and then I sat down on the sofa. Legs:
"Tell me, what's your date with me? Are those two pieces of meat settled?"
Zhao Chen sat down opposite her, Chen Xi brought a cup of tea over, then wisely withdrew and closed the door.
"It's not decided yet." Zhao Chen leaned back on the chair, "But there are some changes."
Shen Jue raised his eyebrows, picked up the tea cup and smelled it, it was this year's Longjing:
"What changes?"
Zhao Chen said:
"I might not just eat those two pieces of meat."
Shen Jue put down the tea cup and looked at him:
"Tell me more about it."
Zhao Chen told Haoyu Construction's story from beginning to end--
Chen Wei's request, the results of the investigation, Chen Jianye's radical expansion, seven projects under construction, 400 acres of land reserve, and that highly qualified construction company.
"... The net assets are still 1 billion, but almost all assets are in a pledged state."
He finally said, "The biggest problem for Haoyu now is the liquidity break. Once it goes bankrupt and liquidates, the price at which those assets are sold may not be able to repay the loan."
Shen Jue listened quietly, picked up the tea cup and took a sip:
"So you want to acquire it wholly?"
Zhao Chen nodded:
"Yes."
Shen Jue asked:
"How much?"
Zhao Chen said:
"The purchase price is 100 million. However, subsequent capital injection is required, 500 million in the initial stage, and an additional 300 to 600 million will be added later depending on the situation."
Shen Jue quickly calculated in his mind:
"800 to 1100 million. Where is the income?"
Zhao Chen said:
"Conservative estimate of net profit is 1.5 billion. Three-year cycle."
Shen Jue's brows moved slightly:
"1.5 billion?"
"Yes." Zhao Chen said, "The seven projects are worth 3 billion, and the land reserve is 2 billion. The total is 5 billion. The construction company has assets of 500 million.
Even with a discount, the profit will be very considerable after rebalancing."
Shen Jue was silent for a few seconds, going over the numbers in his mind.
Then she asked:
"What about the debt ratio? You have finally reduced the debt ratio to 43%. How much will it increase with this acquisition?"
Zhao Chen is already prepared:
"Haoyu currently has liabilities of about 4.5 billion. After the consolidation, Henglong has total liabilities of 12 billion, total assets estimated at market prices of 22.8 billion, and a debt ratio of 52.6%."
He paused:
"If Henglong and Off-Balance Sheet Liabilities of Haoyu are combined together, the debt ratio will be around 63%."
Shen Jue was stunned for a moment:
"Why is it still so low?"
Zhao Chen smiled:
"Wouldn't it be better to go lower?"
"That's not what I meant. This is incredible!"
Shen Jue quickly explained. This instinctive impulse to explain surprised herself.
Zhao Chen didn't care about this, "That's the number plus Off-Balance Sheet Liabilities. Haoyu has very few Off-Balance Sheet Liabilities, only less than 200 million in external guarantees.
Although Chen Jianye is radical, he has not done anything that harms his own interests."
Shen Jue nodded, with a hint of appreciation in his eyes:
"The calculation is quite detailed. It seems that under your leadership, Henglong will get better and better. I have more confidence in Henglong."
She leaned on the sofa and looked at Zhao Chen:
"Then my last question - why did you suddenly change your mind? I'm very curious about this."
Zhao Chen looked at her and was silent for a moment.
Then without any evasion, he spoke out the answer first:
"Because Chen Wei."
Shen Jue's brow moved slightly.
Zhao Chen said:
"Haoyu has more problems than imagined, but Chen Wei's abilities are also much stronger than imagined.
The reason why Haoyu has been able to survive these years is all because of her sewing and mending behind the scenes.
The unfinished real estate projects, Court seizure and unsealing, creditor negotiations - she took it all on her own."
He paused:
"If she steps forward to solve all problems, and Henglong is only responsible for injecting capital, the certainty of this transaction will be much higher."
Shen Jue was silent for a few seconds.
"Do you believe her?" she asked.
Zhao Chen shook his head:
"It's not that I believe her, but it's bound by an agreement."
He stretched out his hand and began to break his fingers:
"First, the purchase price is 100 million, which will be paid after one year.
In this year, she has to deal with all the troubles - equity disputes, debt restructuring, project unblocking. If not dealt with completely, the money will not be given."
"Second, she was to provide a personal guarantee for all debts.
If any undetected revelations come out later, she will bear personal responsibility."
"Third, performance betting.
In the next three years, Haoyu will complete the set revitalization goal. If she cannot complete it, she will not get any rewards."
"Dixi, non-compete.
She cannot engage in any business that competes with Henglong during and after Henglong."
He put down his hand and looked at Shen Jue:
"Saijiao is locked up. She gives up her choice, and the one who loses the most is herself."
Shen Jue was stunned for two seconds after listening.
Then she laughed:
"You are trying to tie her to death."
Zhao Chen said:
"She is willing to be tied up."
Shen Jue thoughtfully:
"What does she want? Just for that 100 million?"
Zhao Chen shook his head:
"She wants to join Henglong."
Shen Jue's brows raised even higher:
"Join Henglong?"
Zhao Chen nodded:
"She said that Yi Yi has been watching us in the past six months. Clearing off the balance sheet, reducing liabilities, selling properties, and disposing of inefficient assets - every step has been done neatly.
She said what we were doing was something she wanted to do but hadn't done yet."
He paused:
"She wants to be Henglong."
Shen Jue was silent for a long time.
Then she picked up the tea cup and took a sip:
"Interesting."
She looked at Zhao Chen:
"Okay, I agree."
Zhao Chen looked at her:
"Don't ask anything else?"
Shen Jue laughed:
"What are you asking? I am also a shareholder of Henglong, okay!"
She rolled her eyes at Zhao Chen again and said, "What you do is beneficial to Listed Company, why should I oppose it?"
She paused:
"And, I trust your judgment."
Zhao Chen nodded:
"Thank you, Henglong is lucky to have a shareholder like you."
Shen Jue waved his hand:
"Don't thank me too early. I still have questions."
She looked at Zhao Chen with a hint of ridicule in her eyes:
"You are so positive, do you have any selfish motives?"
Zhao Chen frowned slightly, expressing confusion:
"What do you mean?"
Shen Jue said:
"Haoyu Construction Eldest Princess Chen Wei. I heard that it is a flower of the high mountains. It should look good, right?"
Twenty-seven years old, single, with outstanding abilities, and yet I admire you so much - are you sure you are not tempted?"
Zhao Chen rolled his eyes at her:
"You are really nosy. You think too much. This is not the case."
Shen Jue laughed out loud:
"That means you have other selfish motives."
Zhao Chen was silent for two seconds.
Then he said:
"Indeed, I still have a little selfishness."
Shen Jue raised his eyebrows, waiting for him to continue.