Henglong Group The year-end Board of Directors is scheduled for December 20th.
Liu Mingyu sent the meeting notice one week in advance.
In addition to the regular agenda and the preliminary report of Financial Data, the email attachment contains
There is also the annual summary of floating profits from positions compiled by Chen Xi.
He added a note at the end of the email:
"There will be no voting items at this meeting. It will focus on the year-end summary and next year's outlook. Directors are requested to reserve sufficient time for discussion."
When Zhao Chen walked into Meeting Room, Long Table was already full of people.
Song Zhongping and Chen Qiming were exchanging the settlement data of Haoyu Construction's last project in a low voice.
Xu Yong and Sun Zhengping are looking at the valuation report of Green Energy Technology,
Wu Hongyuan is using a calculator to review the exchange rate conversion in a certain page of financial calculations.
Chen Wei leaned on the back of his chair and flipped through Real Estate Sector's full-year final report.
Zhang Qingxue and Chen Xi are sitting side by side on the window side of Long Table, with their laptops already turned on.
Shen Jue sat on the other side of Long Table, with a handwritten speech in front of him.
Today she wore a navy blue suit jacket with a small silver brooch on the collar.
As usual, I sat upright, with my fingers crossed on the table, and I didn't flip through the files.
I didn't look at my phone, I just waited quietly for the meeting to start.
Zhao Chen looked at her when he sat down. She nodded slightly and said nothing.
"Everyone," Zhao Chen put the tea cup on the table,
"Today is Henglong Group's last Board of Directors this year.
The official Financial Data will have to wait until the final draft of the audit is released before it can be submitted to Shareholders' Meeting for review. There will be no vote today.
Chen Xi has sent you the summary of floating profits of positions throughout the year.
The equity confirmation letter for Bubble Mary after its listing is also attached to the email. You have all read this data.
Today I will mainly listen to everyone's summary and outlook for next year. Who will say it first?"
Song Zhongping was the first to speak, and it took less than ten minutes to go through the closing data of Real Estate Sector--
The last late-stage project was completed and delivered this month.
The construction team of Haoyu Construction has all been transferred to the group Engineering Department,
The distribution of sales office staff has been completed, and Real Estate Sector has officially become history.
After he finished speaking, he closed the report and nodded in the direction of Chen Wei:
"Mr. Chen has worked hard these past two years."
Chen Wei put down the real estate closing report in his hand.
She finished writing this report on the day the last project of Henglong Real Estate was delivered.
From Zhao Chen in 2017 who proposed "Real Estate Sector is only out but not in" to Strategic Contraction, to the liquidation of the last project this year,
Henglong Real Estate Sector took more than two years to complete the complete exit from land acquisition to liquidation of stock.
There is a photo attached to the last page of the report - the empty sales office lobby,
There is also a banner with "Liquidation Special" on Floor-to-Ceiling Window, and the lights on the sand table Model have been turned off.
Only a ray of afternoon sunlight outside the window slanted in, falling on the reception desk covered with a thin layer of dust.
Chen Wei wrote a line under the photo:
"We have transformed from building houses to investing in the future, and this path is clear."
She pushed the report in front of Zhao Chen.
"Zhao Zong, this is the last report of Real Estate Sector.
From now on, Henglong's real estate will only manage existing properties and will no longer have new development projects.
My scope of responsibility will be adjusted from next year to the project docking of the group's existing asset management and the Philanthropic Foundation campus renovation project.
The real estate page has been turned."
Zhao Chen took the report, turned to the photo, and looked at it for a moment.
This photo was taken of the last project of Haoyu Construction and the last project of Henglong Real Estate.
"Thank you for your hard work in the past two years. Real Estate Sector's withdrawal is not Henglong's failure, but Henglong's choice.
From 'development' to 'management', your task changes from creating increments to guarding stocks, which is equally important."
Chen Wei nodded and leaned back on the chair again.
Then Chen Qiming, Xu Yong and Sun Zhengping made brief supplementary speeches from the supervisory perspective of Financial Data and Independent Director respectively.
The atmosphere at the conference table was relaxed and orderly.
Finally, everyone's eyes turned to Shen Jue.
Zhao Chen turned slightly sideways in her direction.
"Mr. Shen, I have read your speech. Everyone here is here today. Please tell me."
Shen Jue picked up the handwritten speech in front of him and did not read it immediately.
She turned the manuscript to the first page, her eyes slowly scanned the faces of everyone present, and then she spoke.
Her voice is not high, but every word is like water drawn from a deep well after repeated thinking, deep and clear.
"In the middle of the year, the stock price of Henglong was 40 Hong Kong Dollar.
We just experienced the hunting of Wall Street Short-Selling Alliance,
Zhao Zong was forced to pledge his own Henglong stocks in New York to raise additional margin.
The inquiry letter from Stock Exchange is placed on Liu Mingyu's desk.
The SEC's investigation into Era Vanguard is still ongoing.
Bubble Mary is not yet on the market, and Mass-Production Line of Green Energy Technology is not yet in full production.
At that time, I was sitting next to this table and looking at the Haoyu Construction construction schedule brought by Song Zhongping.
What I'm thinking about is whether Henglong can survive this year."
She turned to the second page of her speech.
"Today, the stock price of. Henglong closed above 100 Hong Kong Dollar.
From 40 to 100, behind this 150% increase is the complete transformation of Henglong's asset structure.
The proportion of Real Estate Sector has dropped from more than 20% at the beginning of the year to single digits today, and the investment sector contributed more than 90% of the increase in net assets.
Bubble Mary is on the market, Green Energy Technology Mass-Production Line is in full production,
The listing application materials of Yunnan Agriculture Group have been submitted to the meeting, and the floating profit of Five A-shares's holdings throughout the year exceeded 8 billion RMB.
Henglong is no longer a real estate company - this is what we said when we previewed last year's annual report,
But last year we just said this, and this year we really did it."
She turned to the last page of her speech and spoke slower, but with more force.
"But what I want to say today is not the stock price, floating profit, or listing.
What I want to say is the system.
This year we did two things - the first was the establishment of Investment Decision-Making Committee,
A single transaction of more than 500 million Decision-Making Rights was transferred from Chairman's Office to Investment Decision Committee.
The second thing is to improve the supervision mechanism of Independent Director.
From the closing of the Stock Exchange case to the capital supervision of Henglong Charity Foundation, every step has the signature and endorsement of Independent Director.
These two things will have no trace on the stock price chart.
But it means that Henglong went from 'Zhao Chen-Driven' to 'Institution-Driven'.
The stock price can be re-priced by the market. Once the system is established,
It will not collapse due to any one person's change.
This is the most fundamental transformation of Henglong this year."
She put down her speech and looked at Zhao Chen.
"Henglong needs everyone here. But it no longer relies on any one person.
This is what it really looks like when it stands up."
Shen Jue's voice fell steadily in the quiet Meeting Room,
Every word is like a weight that has been weighed repeatedly, nailed word by word in the memory of everyone present.
Zhao Chen picked up the teacup and took a sip.
"What Mr. Shen said is true. From 40 to 100, from real estate to investment,
From personal decision-making to the Investment Decision Committee system, this is not my fault alone.
I just did what I do best - bet on the right tracks.
The rest is that everyone here has done their best in every piece of business.
Chen Wei did a clean job in real estate liquidation, Chen Xi managed A-share's positions in a watertight manner,
Director Zhang has made the compliance system airtight, and Liu Mingyu has kept Regulatory Hurdle strictly guarded."
He looked at everyone one by one, and finally his eyes stopped on Shen Jue.
"And Director Shen is the one who stands up and reminds me of the bottom line every time I go too fast.
From Investment Decision Committee's avoidance clause to this year-end summary,
You always put what Henglong needs most - institutional consciousness - squarely on this conference table.
You help me to establish these people and systems in Henglong's bones.
40 at the beginning of the year and 100 at the end of the year. This is not the end, but the starting point."
After the meeting ended, Shen Jue packed up his speech, picked up his car keys and stood up from the table.
Zhao Chen stopped her. "Shen Dong, thank you for your support."
Shen Jue turned around and looked at him. The warm winter sun outside the window shone in from behind her, casting a long shadow on the conference table.
"You don't need to thank me, I just did what Major Shareholder should do."
She put her car keys into her bag, took a few steps toward the door, stopped again, and didn't look back.