Zhao Chen looked around Meeting Room, and his voice slowed down a bit:
"This year's goal, I told everyone at the annual meeting last night - to reduce the debt ratio to below 20%.
This is not my goal alone, it is the goal shared by everyone at Henglong."
He paused and looked at everyone present:
"At the annual meeting, nearly a thousand people shouted 'Have confidence'. That was for everyone to hear."
It's very quiet in Meeting Room.
No one spoke, but everyone was digesting the numbers Zhao Chen just said--
Of the debt reduction target of 6.63 billion, 3 billion comes from Haoyu and 3.63 billion comes from Henglong Headquarters.
Inventory is discounted by 10%, and assets are discounted by 20%. Inventory is cleared in three months, and assets are sold in half a year.
Every number is tough, but every number has a corresponding path.
"The meeting is dismissed." Zhao Chen said.
Everyone stood up one after another and walked out.
Chen Wei is walking the fastest. She is already mentally calculating the delivery nodes of Haoyu's six projects.
Song Zhongping and Chen Qiming were walking together, discussing the inventory discount plan in a low voice.
Liu Mingyu walked at the back, writing down every time node Zhao Chen just mentioned in his notebook.
Only Zhao Chen and Su Wantang are left in Meeting Room.
Su Wantang packed up the documents on the table and said softly:
"How sure are you of the 6.63 billion debt reduction target?"
Zhao Chen leaned back on the chair and looked at the numbers on the whiteboard:
"On the Haoyu side, Chen Wei has issued a military order, and she will not let herself lose. On the inventory side, Song Zhongping is an old operator, and he knows how to measure the volume.
On the asset sales side, as long as prices loosen, buyers will naturally come."
He paused. "The biggest variable is not whether it can be sold, but how much it can be sold for.
If the market continues to go down, our repayment expectations will be reduced."
Su Wantang said, "Then you just lowered your discount expectations at the meeting--
Inventory is discounted by 10%, and assets are discounted by 20%. This space should be enough."
Zhao Chen nodded, but said nothing. He stood up, walked to the whiteboard, and looked at the numbers on it.
Total assets of 22.85 billion and total liabilities of 11.2 billion.
Debt reduction target of 6.63 billion and debt ratio of 20%.
He picked up the eraser, erased half of the numbers on the whiteboard, and then wrote a line on the top:
2018 target: debt ratio ≤ 20%
He looked at this line and was silent for a long time. Then he put down the eraser and turned around.
"Let's go." He said, "We'll see the plan in three days."
Su Wantang stood up, picked up his coat and handed it to him.
Zhao Chen Take it and put it on.
Two people walked out Meeting Room side by side.
Entering February, the stock price of Tesla was like a fallen leaf falling into the stream. There was no violent churning, but a slow and unstoppable downward drift.
On February 1, it closed at 289 US Dollar. On February 2, it closed at 285 US Dollar.
February 5, 282 US Dollar.
February 6, 279 US Dollar.
It falls a little every day, not much, but never absent.
The market's pessimism about Tesla is no longer panic, but a dull consensus.
Citron's report is like a stone thrown into water. The ripples have long since dispersed, but the height of the water surface has indeed dropped.
More details were revealed - Fremont Factory's rework rate was not 40%, but close to 50%;
Gigafactory's battery Capacity Ramp-Up was a full quarter slower than expected;
The weekly production capacity of Model 3 was less than 1,000 units at the end of January, while Elon Musk promised 5,000 units last summer.
Every piece of news is like a feather, gently falling on the scale of Tesla stock price.
One feather after another, the balance tilted little by little.
Short Sellers people are no longer crazy about smashing the market. They don't need it.
After the news came out that Era Vanguard had not reduced its holdings, the market thought that the bulls would fight back.
But the counterattack never came.
Those institutions that had been chasing highs in mid-January have been disgraced by the Citron report, and no one is willing to re-enter the market before the production capacity problem is resolved.
As a result, Tesla's stock price entered a strange state - there were no big ups and downs, only one or two US Dollar's downturns every day.
Chen Xi Look at the stock price every day after the opening and before the closing, and then write down a number in your notebook.
February 1, 289.
February 2, 285.
February 5, 282.
February 6, 279.
February 7, 277.
February 8, 274.
February 9, 271.
9 million shares Tesla Common Stock, holding cost 317.80 US Dollar.
By the close of trading on February 9, the floating loss on the book had exceeded 400 million US Dollar.
Chen Xi Every time I see this number, my fingers will clenched unconsciously.
But Zhao Chen wouldn't let her report. He said something in early February:
"Remind me when it reaches 260. If it's less than 260, don't tell me."
She didn't know what Zhao Chen meant, but she carried it out firmly.
Since then, Chen Xi's notebook has added a line of words: Tesla--260 reminder.
Every day she puts a dot next to that number.
On February 1, there is still 29 US Dollar left.
February 5th, there is still 22 US Dollar left.
February 8th, there is still 14 US Dollar left.
Those points are lined up in a row, like a train slowly driving into the distance.
Zhao Chen has become very busy recently, but it is not Tesla who is busy.
Chen Xi noticed that starting from the first week of February, Zhao Chen was often out of the office.
Sometimes I don't see anyone all morning, and I come back in the afternoon. My suit is changed into a dark gray jacket, and my leather shoes are stained with mud.
Sometimes I go out at noon and don't come back until after get off work, holding a folder with some photos and drawings in it.
Su Wantang doesn't know what he is doing either.
She asked once, and Zhao Chen just smiled and said, "I'm preparing something."
She didn't ask further questions.
Having been with Zhao Chen for a long time, she knows one thing - when he doesn't tell, there's no point in asking.
When he is willing to talk, he will naturally tell you.
Chen Xi asked Su Wantang privately, "What is Zhao Zong busy with recently? Even you don't know?"
Su Wantang shook his head. "I don't know. But he seems to be in a good mood."
Chen Xi thought about it, and it seems that this is indeed the case. Although Tesla is falling every day, and although the floating losses on the book are expanding every day, Zhao Chen's complexion is much better than at the end of January.
February 10, Saturday.
Shan City The sun is rarely seen in winter.
The sun shines through the clouds and shines on the Yangtze River, making the water surface seem to be covered with a layer of broken gold.
When Zhao Chen was having breakfast, he said to Su Wantang, "Is there anything going on today?"
Su Wantang shook his head. "No. What's wrong?"
Zhao Chen raised his head and said, "In a moment, follow me to a place."
Su Wantang was stunned for a moment, Zhao Chen rarely used this "go somewhere with me" tone.
She didn't ask any more questions, replied "Okay", and then walked to the cloakroom.
At 9:50, the two set off together.
Zhao Chen is sitting in the driver's seat, wearing a dark blue sweatshirt and a pair of sunglasses. He doesn't look like Chairman like Henglong, but more like a college student going out for the weekend.
Su Wantang Open the passenger door and sit in.
"You drive yourself?" she asked.
Zhao Chen starts the car. "No need for a driver today."
Su Wantang Fasten your seat belt and don't ask again.
The car went south along the Yangtze River road, passed the long Jiang University bridge, passed two tunnels, and turned into a road that Su Wantang had never been before.
The houses on both sides are getting shorter and shorter, there are more and more trees, and there is a smell of earth and grass mixed in the air.
"Where are we going?" Su Wantang finally couldn't help but ask.
Zhao Chen smiled, "Didn't I say I would give you a surprise before? Now I'm ready."