After Shen Jue finished speaking, Meeting Room was quiet for a long time.
In the paragraph just now, she used a series of decisive judgments,
She was not being polite, she was telling Zhao Chen in her own way that she was not wrong about the person at first.
Zhao Chen leaned back on the chair, tapped his fingers on the table twice, and then spoke,
The sound is not high but everyone in Meeting Room can hear it clearly.
"Everyone, I have already said my words of thanks and I won't repeat them. What I want to say next is--
Before I left New York, I settled on Lawyer Lin and Chen Xi.
The Era Vanguard side has begun to enter the long-term Strategic Allocation, and the daily Decision-Making Rights limit is gradually decentralized.
But I am back here today, not to announce any new strategy. I just want to hear each of you say it in person--
In the area that you are responsible for, what is the most important thing that I need to solve now."
He turned to Song Zhongping. "Mr. Song, let's start with you."
Song Zhongping turned the meeting minutes in his hand to the latest page, but he did not read the notes.
He is Chief Operating Officer of Henglong Group. He has been in charge of the real estate business since the Henglong Holdings era.
Last year, after Zhao Chen turned Real Estate Sector as a whole to destocking,
He and Chen Wei led Haoyu Construction's team to handle the liquidation of dozens of project companies.
All employee placements involved in the process were negotiated individually by him.
He never uses fancy words when speaking, but he always uses numbers accurate to single digits for everything.
"In the case of Zhao Zong, Real Estate Sector, I will report the numbers directly.
Currently there are three existing projects for sale under Henglong Real Estate -
Jiangbeizui's Henglong Plaza's remaining shops, South Bank Road's several flat-floor units with river views, and a piece of industrial land over there at Xiyong.
The listing price of Jiangbeizui's store has always been very strong, and the sale rate is normal;
South Bank Road's large flat floor sold one set last month, with good profits, and interested customers of the remaining sets are still waiting to see.
Xiyong The piece of industrial land is the most valuable item in this batch of disposals.
Two local companies are already bidding and are expected to sign a contract this month.
After all three assets are cleared before the end of the year, the legal entity of Haoyu Construction can officially go through the cancellation process.
In terms of employee placement, more than 200 people have been laid off since last year.
Most of them were transferred to affiliated companies of Henglong Capital and Henglong Real Estate, and only a dozen people took compensation to choose their own careers."
He closed the document and looked up at Zhao Chen.
"There are no particularly big remaining obstacles to the liquidation itself. The only thing that needs you to make a decision now is--
For the land Xiyong, the quotes from the two bidders were higher than our internal appraisal price.
But one company requires installment payment, which takes a long time.
I tend to accept the full payment plan from another company and get the cash back as soon as possible.
But this involves the last Related Party Transaction confirmation and tax filing before the legal entity is cancelled, which requires your signature."
Zhao Chen didn't hesitate.
"Exercise according to your judgment.
The full payment plan will be given priority, and the installment plan will be considered as an alternative.
The signed documents will be sent over tomorrow morning."
Song Zhongping didn't say "thank you".
Zhao Chen's authorization to him has always been like this - he reported the number, and Zhao Chen made the decision, without any unnecessary procedures in between.
He just wrote the words "full payment first" in his notebook, then leaned back in his chair and waited for others to continue.
Song Zhongping After finishing the report, close the document and put it aside.
Next is Chen Qiming.
As Finance Director of Henglong, he has been in charge of the company's books since the Henglong Holdings era and witnessed Henglong's complete transformation from real estate to investment.
He reported the core data of the third quarter operating report item by item--
Bidiya's floating profit continues to increase, and Bubble Mart's revenue has nearly doubled year-on-year.
The first draft of Yunnan Agriculture Group IPO's audit report has been published.
All the funds recovered from the liquidation of Real Estate Sector were collected into the special account of Henglong Capital in accordance with regulations.
After reporting the data, he closed the folder and looked up at Zhao Chen.
"Zhao Zong, everything is normal on the financial side.
The third quarter report has been prepared and will be officially disclosed upon your signature."
Zhao Chen nodded.
Chen Qiming's reporting style is the same as him - precise, concise, and never beat around the bush.
Subsequently, Shen Jue simply added several matters at the corporate governance level.
In a few words, she summarized the concerns raised by Independent Director recently in online communication--
Mainly focused on the subsequent disclosure of pledge financing, the update of the information wall between Listed Company and Major Shareholder, and the annual review progress of senior executive Compensation Committee.
Her tone remained sharp and calm when she spoke,
But his posture was slightly more relaxed than when he applauded just now, as if he had finished what he had to say today, and the next step was just to complete the meeting procedures as usual.
After several persons in charge finished speaking one by one, Zhao Chen straightened up from the back of his chair and crossed his hands on the table.
The atmosphere in Meeting Room changed slightly for a moment - everyone realized that it was Zhao Chen's turn to officially speak.
"I have taken note of everything you just said. Next, I want to formally report something to Board of Directors."
His eyes swept over the faces of Shen Jue, Song Zhongping, Chen Qiming, Chen Wei, and Liu Mingyu,
Finally, I stopped for a moment on the seats of Independent Director in the back row.
"About the asset size of Era Vanguard and the complete situation of Henglong's equity pledge."
Shen Jue pushed the newly closed Quarterly Briefing in front of him a few inches further, and Song Zhongping's fingers on the table tightened unconsciously.
The directors of Henglong are not unaware of the existence of Era Vanguard--
Since Era Vanguard submitted its first 13G application on Nvidia in November last year,
By May this year, Short-Seller Hunt was repeatedly dismantled by Financial Media around the world.
In June, SEC Response Letter fully disclosed the source of Era Vanguard's Bitcoin funds to the public.
Of course they know that Era Vanguard belongs to Zhao Chen.
But they have never heard Zhao Chen himself say those numbers on the official Board of Directors.
"Era Vanguard currently holds approximately 94.1 million shares of Nvidia,
Accounting for approximately 15.5% of the total share capital, the market value of the position based on the current stock price is approximately 16.9 billion US Dollar.
It holds approximately 26 million shares of Tesla, accounting for approximately 14.8% of the total share capital, and the market value of its holdings is approximately 7.8 billion US Dollar.
It holds approximately 5.4% of SpaceX's equity, corresponding to a market value of approximately 1.65 billion US Dollar.
The total market value of the three core positions is approximately 26.35 billion US Dollar, plus the book value Cash Reserves,
Era Vanguard The total assets are approximately 27.1 billion US Dollar."
He didn't use PPT or read any documents. Every number seemed to be engraved in his mind.
Someone in Meeting Room took a breath.
Zhao Chen did not pause and continued.
"Everyone must be aware of the initial seed funding for this asset.
It is about 500 million Hong Kong Dollar raised by pledging Henglong Holdings shares at the end of 2016.
Since then, profits have been accumulated through Bitcoin transactions,
In December 2017, when Bitcoin exceeded 17,000 US Dollar, all positions were cleared, with a net profit of approximately 7.94 billion US Dollar.
The money was later transferred to Offshore Account of Era Vanguard,
Become the initial capital of Era Vanguard for all operations on the US Stocks market.
From April to May this year, in order to cope with the hunting of Short Sellers,
I pledged all 360 million shares of Henglong Group I hold in my own name.
Through Hong Kong, one Family Office raised about three billion US Dollar,
All of them are used to replenish the pledge deposit of Tesla and increase the holdings of Tesla and Nvidia at the bottom.
In the future, this pledged financing of Principal and Interest will be fully repaid through the partial realization of floating profits of Era Vanguard."
He paused for a beat.
The air in Meeting Room seemed to have been sucked out, and even the humming sound from the central air conditioner outlet became particularly clear.
"The above is the complete situation of all Related Party Transaction and fund transactions between Era Vanguard and Henglong Group.
Now, all directors are invited to raise questions on the above matters."