Chapter 131: The End of the Road
May 1, 2020.
The Sapphire slowly anchored in Victoria Harbour on the Hong Kong River.
at the same time.
As the delivery deadline was approaching, Donghua Group still had not found the cause of the problem with the equipment, resulting in the equipment being unable to pass acceptance.
In fact, at this time, various external institutions and investors have basically confirmed that Donghua Group will not be able to deliver on time.
Because the final delivery deadline of the contract is June 12, there are only 41 days left. Minus the fixed 25 days of transportation time and about 10 days of disassembly and packaging time, there are only 6 days left.
At this point the equipment has not passed the acceptance. How can we ensure that it passes the acceptance within the remaining 6 days?
And this is the ideal situation.
After all, the shipping time from Haizhou Port to Manila Port takes 20 to 25 days under good weather conditions. Once bad weather , delays are inevitable.
As for air transportation, there is no way to transport large equipment weighing tens of thousands of tons by air, especially since some of its parts cannot even fit into the cabin.
Therefore, all major speculative institutions immediately concluded that Donghua Group’s default was a foregone conclusion.
At this time, the share price of Tung Wah Group in Hong Kong stocks fell to a terrible level, with only 1.32 yuan per share.
…
Li Qingye had already purchased a villa in Hong Kong in a low-key manner under the identity of Andre.
In the mountaintop villa, he leaned against the railing and quietly looked out at the entire Victoria Harbor.
"Boss, this is today's report." Philip said as he handed over the headphones.
Li Qingye plugged in the headphones and immediately saw important reports from various branches, including the share of Donghua Group held by the Financial Office of the Internal Affairs Department, which had reached 42.3% at this time, basically reaching the limit.
He rubbed his temple and wrote his instructions into the earphone memory.
As the sun sets over the harbor, the sparkling golden waves are so enchanting.
"Sir, juice." Sanjibada Layal put a glass of freshly squeezed juice aside.
Li Qingye gazed at the red sunset, his eyes calm and deep, his low voice dissipated in the sea breeze:
"I'm really looking forward to our next meeting..."
…
Magic City.
The atmosphere was depressing inside the headquarters building of Donghua Group.
Wu Heguang, Kong Zhaolin, Wu Xinlan and others all sat in the conference room with stern faces.
All these days, Wu Heguang's requests for help from Du Shuping and others were of no use at all. Instead, they caused even more undercurrents within the company.
"Uncle, I am sorry for you!" Kong Zhaolin lowered his head and apologized in a distraught manner.
Wu Heguang shook his head: "It's not your fault. No one expected that the equipment would have so many problems. It was my eagerness for quick success that caused today's losses."
"Uncle, although the compensation is as high as 594 million US dollars, the company can raise this money by streamlining some industries." Wu Xinlan quickly comforted him.
But Wu Heguang knew in his heart that the situation was not optimistic.
Because now Donghua Group’s capital chain has been broken.
Kailai Company withheld part of the money it was going to pay.
In addition, Donghua Group previously borrowed 6.2 billion yuan from banks to expand its business, and the bank is already collecting around 1.3 billion yuan that is due in June this year. As for applying for new loans, there is no need to think about it.
In addition, Donghua Group still owes money to upstream suppliers of parts and raw materials. Many suppliers now directly refuse to accept Donghua Group’s commercial bills and demand that Donghua Group pay in cash before they will continue to supply parts and raw materials.
The squeeze from all sides caused the Donghua Group's already very tight capital chain to break directly.
The current funding gap has reached approximately 6.2 billion yuan.
Even if you sell your properties as an emergency measure, it will take time.
Wu Heguang calculated the current assets of Donghua Group.
It includes five subsidiaries: Donghua Chemical, Donghua Chemical Equipment, Donghua Machine Tools, Donghua Real Estate and Donghua Investment.
Among them, Donghua Real Estate has its headquarters building in Shanghai, as well as office buildings and commercial housing buildings in other places, which are all assets that can be sold .
The question is who can come up with 6.2 billion yuan at once to purchase these assets?
What’s even more terrible is that Donghua Group’s funding gap is constantly widening.
Wu Heguang knew that the bank would most likely not lend money to Donghua Group anymore. If they wanted to survive this crisis safely, they had to raise around 8 billion yuan in funds before the end of this year.
This number made Wu Heguang feel desperate.
Unless he is willing to sell off the chemical plant, equipment manufacturing plant, machine tool factory and headquarters building at a low price, there is no way to raise 8 billion yuan within six months. If he sells these industries, what is the difference between Donghua Group and bankruptcy.
Just when Wu Heguang was struggling with how to make a decision.
He suddenly felt dizzy and then fell headfirst onto the table.
"Uncle!"
"Uncle!"
"Call the medical staff!"
" Just call an ambulance!"
Kong Zhaolin, Wu Xinlan and others were startled and became panic-stricken.
After two medical staff came over, they quickly examined and rescued Wu Heguang.
After a while, the ambulance arrived.
Outside the emergency room of Modu Hospital.
Kong Zhaolin and Wu Xinlan were waiting anxiously. Suddenly, the door opened and the doctor said to them, "Are you family members? The patient is no longer in danger..."
"Huh...that's great." Wu Xinlan breathed a sigh of relief.
The doctor said some bad news: "It's just that... you'd better be mentally prepared. Because of the cerebral hemorrhage, the patient may become a vegetable."
Wu Xinlan's smiling face suddenly fell: "How could this happen? Doctor, is there no way to treat it?"
The doctor shook his head and said, "I'm sorry. We need to remove the dirty blood from the patient's cerebral cortex. The patient is not young anymore, so the risk of surgery is very high. I recommend conservative treatment and let the patient recover on his own ."
After the doctor leaves.
Gao Ming, who was in charge of Donghua Investment, quietly suggested, "Vice President Kong, Miss Wu, I have a doctor friend in Hong Kong who is proficient in cardiovascular treatment and has treated many vegetative patients. Why don't we send the chairman to Hong Kong to give it a try?"
"This..." Wu Xinlan was a little hesitant.
But Kong Zhaolin quickly made up his mind that Donghua Group needed Wu Heguang now.
If Wu Heguang is lost at this critical moment, Kong Zhaolin and Wu Xinlan will not be able to control the other executives. After all, he has to bear a large part of the responsibility for this crisis.
"How about this! Xinlan, you and Manager Gao will take my uncle to Hong Kong for treatment, and I will stay to stabilize the company."
There was a hint of deep meaning in Wu Xinlan's eyes. She knew that Kong Zhaolin must want to take the opportunity to monopolize power and send her, the first heir, away.
But after thinking about it, Wu Xinlan sighed secretly. What's the point of her staying now? Is she going to compete with Kong Zhaolin for power? Is she still dissatisfied that Donghua Group is not dying fast enough?
Donghua Group needs stability now. She knows that once Donghua Group goes bankrupt, it will be of no benefit to either Kong Zhaolin or her.
"Sure. I will also greet the others and ask them to cooperate with my cousin's work as much as possible."
Kong Zhaolin also made a promise: "Don't worry, Xinlan, the most urgent thing now is to get through this difficult time, and we will deal with other things later."
Gao Ming, who was standing by, seemed to be in a trance, but he secretly mocked himself in his heart: "The future? You have no future, haha, don't blame me, blame yourself for provoking the wrong people."
After compromising, Wu Xinlan followed Gao Ming to go through the discharge procedures and prepared a special plane to send Wu Heguang to Hong Kong for treatment.
