my fintech empire.

Chapter 232 [Eat dry and wipe clean (610)]

As for how to completely kick Wang Qingxiong out of the game, Fang Hong has already done the game well. The series of terms signed by Zhongtai Capital and Wang Qingxiong are interlocking, and the three-step strategy formulated by Fang Hong to annex Hengtong Pharmaceutical Group is the same. It is interlocking.

This third step of strategy is to finally kick Wang Qingxiong out of the game and wipe it out.

Qunxing Capital has arranged closely for this merger plan. First of all, it suppressed the valuation of Hengtong Pharmaceutical Group. The company’s total assets are about 180 billion yuan, and the company’s net assets are about 102 billion yuan. In the end, it will give the company a valuation of 92 billion yuan for acquisition Its assets, Hengtong's equity and mess are definitely not wanted. Anyway, as long as it is assets, it will not worry about taking over a pile of debts.

Wang Qingxiong had no choice, who asked him to sign a drag-along clause with Zhongtai Capital, and who asked Zhongtai to choose Qunxing Capital as the seller?
According to the terms of the drag sale right, Wang Qingxiong also had to sell to Qunxing Capital.

Qunxing Capital accounts for 88% of shares in Ruihe, and it is already the actual controller, which means it has absolute control, and there is a premium for control, which generally ranges from 25% to 35%.

And Hengtong Pharmaceutical's assets are valued at 92 billion yuan, why is there no control premium?Because the stars bought the assets of Hengtong Pharmaceutical, not the equity of Hengtong Pharmaceutical, the control of Hengtong Pharmaceutical is still in the hands of Wang Qingxiong, and he absolutely controls Hengtong Pharmaceutical. Of course, there is no such thing as a control premium.

Not only is the control premium gone, but it is also discounted by about 10% compared to the net asset size, which is equivalent to selling Wang Qingxiong's equity at a [-]% discount.

Just a [-]% discount to get Wang Qingxiong out?Far more than that, Fang Hong wanted to make him "break the bone" out of the game.

At that time, Wang Qingxiong will still hold 9% of Ruihe's shares. If he wants to get rid of him completely, he will usually ask him to repurchase or buy it directly. .

How does it work?

That is the third step of the strategy of annexing Hengtong: the judicial auction of Ruihe Company!
The first step of the strategy has laid the groundwork for the third step of the strategy. Qunxing Capital pledged 100% of the equity of the shell company Ruihe to a bank and financial institution for 38 billion yuan. After completing the second step of the strategy, Qunxing Capital Holding 88% of the shares of Ruihe Company is the absolute controlling shareholder of the largest shareholder.

At that time, Ruihe will directly call the bank and send a notification letter to the bank. The company now has more than 200 billion in liabilities and non-performing assets. Breach of contract!

In jargon, this is called a technical breach of contract.

Good guy!
The bank saw that you, a handsome young man, didn't pay back the money and still dragged you like this?
So it backhanded and directly sued Ruihe Company, and put 100% of Ruihe's equity into a public judicial auction.

Once entering the judicial auction process, 9% of the shares in Wang Qingxiong's hands have already been discounted by [-]%, and if they are further discounted by half, they will directly be broken.

Ruihe Company gave a valuation of 100 billion yuan when 81% of its equity was pledged to the bank. Now it is going to be auctioned by the court, but the court auction will be discounted.

Enter the judicial auction process, and the first auction of judicial auction is usually 70% of the appraised price, that is, a 81% discount. The 56.7% discount of [-] billion is the price of [-] billion for auction.

If no one bids for the first auction and the auction fails, the second auction will be a sale, and the price reduction will not exceed 20% of the previous starting price. Assuming that the second auction will be discounted by 56.7% from the base price of 15 billion, then the second auction price will be 48 billion 1950 million yuan.

And Fang Hong's strategy is to let the first auction fail, and sell it when the second auction is discounted by 48 billion yuan.

How to get started?

It's very simple, let another vest company of Qunxing Capital spend 48 billion to bid for 100% of Ruihe's equity. Before the pledge bank performed a technical default, that is, before the judicial auction process was triggered, it had already stuffed Ruihe with 200 billion yuan in debt.

Moreover, it is perfectly reasonable, legal and compliant, and no legal loopholes can be found.

With these 200 billion debts or non-performing assets in it, who dares to grab the meat?

Someone really dared to rush out halfway to grab a shot.

Fang Hong will never rob him, and when he shoots it, he will directly press him for a debt of 200 billion yuan, and pay back the labor and capital!

Earning 200 billion for nothing, Ruihe will definitely fall into the hands of the stars in the end. This kind of good thing is rare.

Therefore, in fact, the situation must be that no one in the entire market dares to snap up the auction except Qunxing Capital.

After the vest company paid 48 billion for the auction, it owned 100% of the shares of Ruihe Company, and Wang Qingxiong was completely out of the game, without taking up a single share. Still got knocked out.

In this round, Wang Qingxiong never had any chance to object. This well-arranged round has long been set up for him. He has to jump if he jumps, and he has to jump if he doesn’t jump. In the future, the following series of pitfalls cannot be avoided, and we can only accept the fate of being bloodbathed once by Zhongtai Capital and then being bloodbathed again by Qunxing Capital.

It was sold at an auction price of 48 billion yuan, but after Wang Qingxiong's 9% shares were auctioned off, he could only get 4.32 million yuan. He founded Hengtong Medicine and spent more than ten years of hard work to increase the company's assets to more than 180 million yuan. 500 million, if we go on smoothly, we will be able to achieve [-] billion or even a larger scale, and it is even expected to reach the [-] billion level in ten years.

But now the fate waiting for Wang Qingxiong is to get 4.32 million and get out of the game. Of course, it is an astronomical figure for ordinary people, but for rich people like Wang Qingxiong, it is tantamount to a little charity given by capital after a disastrous defeat. What he got in his eyes was not 4.32 million, but shame.

However, at the moment in the CEO office of Qunxing Capital, Fang Hong thought for a moment and said in a deep voice: "After Wang Qingxiong is out of the game, he will definitely become the object of sympathy. Instead, Qunxing Capital will become the villain of the cruel capital group that bloodbathed mainland entrepreneurs in people's eyes. That's not okay."

Having said that, Fang Hong raised his head to look at Hua Yu and said: "We can't let Wang Qingxiong become the object of sympathy, let the outside world know that he is a person with a lot of evil and troubles, and he deserves what happened to him. Go and dig out his black material If he wants to be hammered, he will be hammered to death and there will be no room for turning over."

Hua Yu couldn't help but tremble in his heart. The big boss usually looks like a harmless young man, but when he really takes action, he can be said to be both decisive and ruthless.

After a while, Hua Yu said: "It's not difficult to dig out Wang Qingxiong's black material, just because he hides ancient prescriptions in the snow, supports traditional Chinese medicine on the surface and actually suppresses it, and even said that it's okay to eat it all the time, but once you stop The violent theory that the medicine is a good medicine can completely discredit him, just like a rat crossing the street and everyone shouts and beats him."

If this matter is revealed, Hengtong Pharmaceutical will inevitably plummet, but it will not affect Qunxing Capital, because the assets of Hengtong Pharmaceutical are annexed this time, and Hengtong's equity, including the Hengtong brand, is a mess, and it is all dumped to Wang Qingxiong up.

Yishengtang, a sub-brand of the former Hengtong Pharmaceutical Group, may have some influence, but this sub-brand is not closely related to the parent company, so the impact will not be too great.

What Fang Hong valued the most was the TCM physicians in Yishengtang's major stores, because it was really difficult to train TCM physicians, and TCM physicians with real skills were extremely scarce and precious.

At this time, Hua Yu changed the subject and added: "It's just that..."

He hesitated while speaking.

Just then, someone knocked on the office door.

Hua Yu turned his head and said, "Come in."

And Fang Hong also looked over. As soon as the office door opened, only two women walked in. Hua Yu's assistant, Yue Qing, led another woman into the office.

"Mr. Fang, she is the applicant who came to apply for your assistant position, Tian Jiayi, and she has already passed our interview. You happened to be in the company, so you brought her here." Yue Qing said with a smile.

Passing the company's interview can be said to be one in a million, but you still have to pass Fang Hong's final interview.

At this time, Fang Hong immediately set his eyes on Tian Jiayi and sized her up for a while.

She wears summer shirts and skirts. The clothes are simple, neat and textured. She chooses a V-neck to add a bit of momentum, and her ponytail is tall. Mature and old-fashioned, but an intellectual young lady who is gentle and capable in between.

When Fang Hong looked at Tian Jiayi, she also looked at Fang Hong, feeling very surprised in her heart, and once made her wonder if Hua Yu's assistant was joking with her.

Obviously, he didn't expect that the person who might become his immediate boss was such a young...brother?
It's normal to have such thoughts, after all, just judging from the appearance, Fang Hong's age group should never be in such a position.

But seeing the respect of Hua Yu and his assistant Fang Hong, Tian Jiayi found that it didn't look like a joke, and looked carefully, and seemed to feel a unique temperament from Fang Hong, or the aura of some kind of superior .

Huayu's assistant handed Fang Hong a copy of the materials he brought over, which was a resume report on Tian Jiayi.

At this time, Fang Hong retracted his gaze and took the materials handed over by the way, opened them and looked at them.

[Tian Jiayi, 26 years old, born in 1983, graduated with a doctoral degree this year...]

Fang Hong immediately looked away from his resume, and glanced at Tian Jiayi with a slightly surprised gaze. All master graduates are about 27 years old. I didn't expect that she got a doctorate at the age of 26, which shows that she has excellent ability. It is still very young to graduate with a doctoral degree at the age of 30.

Combining good looks, figure, ability and talent, he can be regarded as a one-in-a-million elite.

Fang Hong withdrew his gaze and continued to look at the content of his resume. His native family was not considered prominent, but it was also a middle-class family. His father was a high school teacher and his mother worked in a bank.

After reading it roughly, he closed the resume materials. Fang Hong looked at Tian Jiayi again and said with a smile, "Very good, you have been hired. Come with me from now on."

……

(End of this chapter)