March 20, Tuesday, Shan City.
When Zhao Chen arrived at Henglong Building, it was half an hour earlier than usual.
The little girl at the front desk was stunned for a moment when she saw him, and then quickly stood up:
"Zhao Zong Good morning! Are you back?" Zhao Chen nodded and walked into the elevator.
The moment the elevator door closed, he glanced at himself in the mirror - he hadn't completely recovered from jet lag, but he was still in good spirits.
In Meeting Room, everyone is already here.
Chen Wei was sitting on the left side of Long Table, with a stack of documents spread out in front of him and a half-drunk cup of tea next to him.
Chen Xi was sitting opposite her, with her laptop open and a dense table on the screen.
Chen Qiming is sitting next to Chen Xi, holding a calculator in his hand, as if he is reviewing some numbers.
Song Zhongping leaned on the back of the chair, crossed his hands on his chest, and his expression became more relaxed than before.
Liu Mingyu is sitting on the right side of Zhao Chen, with today's meeting agenda written on the notebook in front of him.
Su Wantang is sitting to the left of Zhao Chen, wearing a light gray suit jacket, with his hair pulled back, and a cup of Longjing tea in front of him.
Zhang Qingxue is sitting next to Su Wantang, holding a folder in his hand with a calm expression.
Zhao Chen sat down and looked around.
"Thank you for your hard work. During my absence, everyone was busy.
Let's go through the backlog today. First Haoyu, then Bubble Mary, then Yunnan Agriculture. Chen Wei, you go first."
Chen Wei stood up and walked to the whiteboard.
She is in a more calm state than she was a year ago. She doesn't speak very fast, but every word is clear.
"Haoyu Construction, as of mid-March, the progress of debt reduction is as follows--
Among the six projects under construction, the first one has been completed and delivered, with 650 million yuan of funds collected, and 500 million yuan of liabilities repaid as planned.
The second project is expected to be completed by the end of April, the third by the end of June, the fourth by the end of August, the fifth by the end of September, and the sixth by the end of November."
She wrote a line on the whiteboard: Debt has been reduced by 500 million, the target is 3 billion, and the completion rate is 16.7%.
Zhao Chen looked at the numbers on the whiteboard and said nothing.
16.7%, the progress is not fast, but Haoyu's debt reduction plan is originally loose at the beginning and tight at the end--
There were fewer projects completed in the first half of the year and more in the second half.
As long as the node is not delayed, the problem is not big.
"Where is the land reserve development?" Zhao Chen asked.
Chen Wei turned over a page of documents. "Haoyu has a piece of land in Shan City Banan District. It was not moved last year because of the poor market.
After Spring Festival, we re-evaluated it. If construction starts in the second half of this year and can be pre-sold early next year, it is expected to bring in 800 to 1 billion.
But the main debt reduction this year still depends on the completion and delivery of construction projects."
Zhao Chen nodded. "The node cannot be dragged. Just keep an eye on it."
Chen Wei nodded. "Understood."
Zhao Chen looked at Chen Xi. "Bubble Mary, what's the progress over there?"
Chen Xi stood up, walked to Projection Screen, and opened the laptop.
An equity transfer schedule appeared on the screen, detailing the time, number of shares, price and transfer party of each transaction.
"Bubble Mary Existing Share Acquisition, basically completed."
Chen Xi's voice is very stable, "As of March 19, Henglong has acquired Existing Shares Holder Shares in total--
Private Placement 5%, plus the shares acquired from Existing Shares dong, hold a total of 26.3% of the shares of Bubble Mary."
Zhao Chen's fingers tapped lightly on the table.
26.3%, higher than he expected.
His original plan was about 25%, but Chen Xi charged 1.3% more.
"What about the total cost?" Zhao Chen asked.
Chen Xi Switch to the next page.
"Private Placement part, 50 million, valuation 1 billion.
For Existing Share Acquisition, we contacted six Minor Shareholder, five of which completed the transfer, acquiring a total of 21.3% of the shares.
The acquisition price ranges from 1.3 billion to 1.4 billion, with a total cost of approximately 310 million.
Total - 26.3% of the shares, total cost 360 million RMB."
She wrote a few numbers on the whiteboard:
Private Placement:5%,50 million
Existing Share Acquisition:21.3%, 310 million
Total: 26.3%, 360 million
Zhang Qingxue opened his folder beside him and added:
"Every transaction of Existing Share Acquisition is simultaneously signed with a supplementary agreement to give up Voting Rights.
All Bubble Mary shares held by Henglong will be surrendered to Voting Rights.
I have reviewed the legal validity of the agreement and there is no problem."
Zhao Chen nodded.
Giving up Voting Rights is his promise to Wang An.
26.3% of the shares, without Voting Rights, means that he has no say in Bubble Mary's Board of Directors.
But he doesn't need the weight of his words.
What he needs is that when Bubble Mary is listed, he will hold more than a quarter of the shares.
That's what he really cares about.
"Wang An knows our shareholding ratio?" Zhao Chen asked.
Chen Xi nodded. "Yes. After each acquisition is completed, we inform him simultaneously. He said--"
She paused and seemed to be considering her words, "He said, 'Chairman Zhao means what he says, I have nothing to worry about'."
Zhao Chen smiled.
The words Wang An carry more weight than any agreement.
Song Zhongping remained silent. After Chen Xi finished reporting, he spoke:
"Zhao Zong, there is something I want to confirm. Part of Existing Share Acquisition of Bubble Mary is beyond the authorization of Board of Directors.
The premium and total amount are both exceeded. Why don't you open Board of Directors once and let's get over this matter?"
Zhao Chen glanced at Song Zhongping.
This veteran official who has been working at Henglong for more than ten years cares most about procedural compliance.
He is not objecting to Zhao Chen's operation, he is reminding Zhao Chen that the flaws in the procedure need to be corrected.
"Yes." Zhao Chen said, "Then open Board of Directors on Thursday and get this matter over with."
He looked at Liu Mingyu."Secretary Liu and informed all directors that a meeting would be held at nine o'clock on Thursday morning. Board of Directors.
There are two issues - first, the ratification of Bubble Mary Existing Share Acquisition.
Including the premium exceeding the original 1.2 Billion Valuation and the amount exceeding the total Two Hundred Million.
Second, Bubble Mary's shareholding has reached 26.3%. According to the previous agreement, after holding more than 20% of the shares, two Board of Directors Seats will be obtained.
Nominate Zhang Qingxue as director and Chen Wei as observer. These two nominations require approval by Board of Directors."
Liu Mingyu quickly jotted down on his notebook, "Understood. I will send a notice in the afternoon."
Zhao Chen looked at Chen Qiming again.
"Director Chen, Bubble Mary, please review the funds acquired.
The path, amount, and time of each transaction should be compiled into a report and given to me before get off work on Wednesday. It will be used on Board of Directors on Thursday."
Chen Qiming nodded. "Okay. I'll sort it out tomorrow."
Zhao Chen looked around and his voice became calmer.
"One more thing. In this Bubble Mary acquisition, some decisions were made outside of Board of Directors's authorization.
The premium has increased and the total amount has exceeded. I am responsible for this matter.
I will explain the situation to Board of Directors on Thursday at Board of Directors. If you have any opinions, you can also raise them at the meeting."
Meeting Room was quiet for a moment.
Almost all the people in Meeting Room are Confidant from Zhao Chen. No one will turn their eyes at this time.