Chapter 168 Old Friend (Part 3)
After leaving Taunggyi Airport, the minibus did not drive towards the core area of the city, but passed through the ring road outside the city.
Although Ma Chi is a stand-in, he is not too high-profile. After all, there are many forces that want to kill Li Qingye.
Loyalty does not mean that he is a fool. He knows that the identity he represents is regarded as a thorn in the eyes of many forces, but he still goes around without any precautions. He is playing with his own life.
Therefore, only core internal personnel know where Ma Chi lives, and he will not settle in one place for a long time.
The destination of the minibus at this time is the eastern suburbs of Taunggyi, where there is a large forest and farm.
Ma Chi’s recent residence is located in one of the farm-style manors.
Jiang Haitao was not too surprised to see this low-key manor. What happened to his elder brother Li Qingye and his parents must have made him very alert.
After going through layers of inspection, he finally saw 'Li Qingye'. Looking at his nephew who had matured a lot, Jiang Haitao showed a hint of excitement and relief.
"Uncle Jiang, long time no see." Ma Chi greeted him without any psychological burden.
"Qingye, you have matured a lot. It seems to me that I have seen what Brother Zhonghua looked like when he was young..." Jiang Haitao's eyes became moist, but he quickly put away his complicated expression:
"Uncle, I came here today mainly because of the Xinxin Group. Du Shuping and his gang got their comeuppance, which is a good thing that makes people happy, but the Xinxin Group has also been implicated. As the largest shareholder, Lao Su and I hope you can come forward, and at the same time, the property will be returned to its original owner."
Ma Chi poured a cup of tea for the other party, and then said helplessly:
"I can't go to Pengcheng in person. I hope Uncle Jiang can understand. How many industries are left in Xinxin Group now?"
Jiang Haitao, who was well prepared, took out a list of Xinxin Group's internal assets and handed it over.
Although Ma Chi already knew the details of Xinxin Group, he still pretended to look through it.
Currently, Xinxin Group itself is not listed, but it has four listed companies, namely Xinxin Real Estate (51% stake), Xinxin Building Materials (42% stake), Wanli Network (34% stake), and Xinxin Hi-Tech (36% stake).
Xinxin Group itself has one headquarters building, seven office buildings and five employee dormitory complexes.
Other industries have been swallowed up by Du Shuping and others through various means .
According to the stock price and the valuation of fixed assets, Xinxin Group currently has total assets of 27.2 billion yuan.
It’s just that the debt ratio is a bit high, reaching 71%, and the total debt is 19.3 billion. Obviously, this is the work of Du Shuping and others.
"I took a look and found that the group 's debt ratio is too high. With the current revenue situation, it can't sustain it."
Jiang Haitao nodded, he knew it well.
The Xinxin Group is now basically terminally ill. Even if the Qingye Group is willing to inject capital, it will still face various problems.
Ma Chi continued: "My opinion is to sell the four listed companies and fixed assets, repay the bank's money first, and then directly apply for dissolution and liquidation."
"This..." Jiang Haitao hesitated. It was obvious that Li Qingye's straightforwardness surprised him.
"If Uncle Jiang has any ideas, you might as well speak up."
"If we sell the four subsidiaries and fixed assets now, the funds we can get back may be less than 20 billion. After the dissolution and liquidation, what will happen to the company's shareholding employees? Their losses will be very serious." Jiang Haitao himself is one of the shareholders and naturally knows the consequences of dissolution and liquidation.
The real estate market is currently in a downturn and the building materials industry is also treading on thin ice.
Xinxin Hi-Tech's business is engineering robots, and its technology is very general. This subsidiary has been in a loss-making state.
Wanli Network's Wanli home improvement website, which focuses on smart home and home decoration services, and Meijia.com, which provides rental services, are also in a loss-making state.
These four subsidiaries are now all money-losing.
"They are certain to suffer losses, but this is their only option now. Otherwise, when their liabilities mature and their capital chain breaks, they won't get a penny." Ma Chi expressed his attitude very directly.
Obviously, it is impossible for Qingye Group to pay to support Xinxin Group.
This was also what Li Qingye meant. After all, the Li family didn't owe Xinxin Group anything, and he was giving face by not going straight into bankruptcy liquidation.
The group will sell assets now to repay debts, and then have more than a billion in assets left. It will then be dissolved and liquidated, and the employees who hold shares can receive a portion of the assets as compensation.
If you wait until the capital chain breaks before bankruptcy liquidation, the bank will show no mercy.
Ma Chi asked calmly: "Uncle Jiang, do you think Xinxin Group can still operate? What Du Jianxin did has put Xinxin Group on the blacklist. It's better to part ways amicably!"
"..." Jiang Haitao was suddenly speechless.
The two talked for more than half an hour, and the result was that Jiang Haitao accepted the reality. It was obvious that there was no need to save the Xinxin Group at this time. He agreed to the dissolution and liquidation solution and promised to persuade other executives and shareholders.
After dinner, Jiang Haitao returned to his hotel room.
After taking a shower, he called Su Ruoyu and told him the results of today's discussion.
The two communicated for more than an hour. Although Su Ruoyu, who was on the other side of the phone, couldn't bear to see Xinxin Group end like this, he knew very well in his heart that this plan was the best choice at the moment.
Compared with bankruptcy liquidation, dissolution liquidation at least saves some money, so Su Ruoyu still agreed to the dissolution liquidation plan.
Early the next morning, Jiang Haitao told Ma Chi the news.
Li Qingye in Luzon was not surprised .
However, Li Qingye still remembered their old friendship and asked Ma Chi to add some supplementary clauses to the plan.
This includes allowing the remaining 1,372 shareholding employees to transfer these properties to them by exchanging their shares for employee dormitory properties.
After all, these people still hold shares in Xinxin Group in order to fight against Du Shuping and others. If these people did not exist, Xinxin Group would not even be able to keep its current assets.
Of the five employee dormitory communities, four are located in Huizhou, with a total of 2,000 properties, which are just enough to be distributed among the employee shareholders. The remaining portion will be given to employees with higher shareholdings, such as Su Ruoyu.
All other assets will be packaged and sold, and a portion of the money will be compensated based on the shareholding ratio.
Since Li Qingye also disdained these leftovers, he planned to dispose of these assets at a low price. It was estimated that he would only get more than a billion yuan in the end.
He felt no regrets about this and just treated it as the final cut.
Anyway, he has already taken possession of the overseas assets of Du Shuping and others, plus the better assets of Wu Heguang's Donghua Group, so the remaining leftovers of the Xinxin Group are now meaningless.
He handed over the task of selling Xinxin Group to Long Yuanzhi, who was the president of Donghua Group.
Su Ruoyu, Jiang Haitao and others will also cooperate with Long Yuanzhi's work.
It is estimated that the sale and liquidation will be completed before the end of the year.
Perhaps taking into account the relationship with the Aoba Group, the internal management restructuring and asset sales of the Xinxin Group did not encounter too much obstruction.
Otherwise, it would be basically impossible for Su Ruoyu, Jiang Haitao and others to sell these assets smoothly.
Li Qingye only paid a little attention to this matter. Now his focus has returned to scientific research.
