my fintech empire.

Chapter 255 [Capital Operation (×) White Wolf (√)]

In the weekend afternoon, Huajia Villa Garden.

In a tea room, four people are in this room, namely Fang Hong, his personal assistant Tian Jiayi, Hua Yongming, and his youngest son Huayu who he regards as the successor of Huayang Group.

At this time, after Fang Hong signed the two agreements, he handed one of them to the beautiful assistant sitting next to him. After signing this agreement, the exchange of income rights for the next 30 years that he signed with Huayang Group was lifted. .

After the debt-to-equity swap, Huayang Group's shareholding in Qunxing Capital rose to 7.7%, Huayu's personal shareholding was diluted to 0.97%, and the rest was held by the fifth Hong Kong-based trust fund established by Fang Hong.

After a while, Huayu said, "Father, after the debt-to-equity swap of the 100 billion funds, Huayang Group's liquidity will face enormous pressure."

Obviously, even the beautiful assistant next to him could instantly tell that he was speaking to his father on the surface, but in fact he was speaking to Fang Hong, and Hua Yongming also turned to look at Fang Hong He said with a smile: "The last time I invested was too little, I can't miss this opportunity of debt-to-equity swap. The return on the equity of Qunxing will be higher."

Fang Hong immediately asked: "I wonder how big Huayang Group's current debt is?"

To put it simply, the size of the debt can basically determine the expansion speed and scale of the current Huayang Group in commercial real estate. After all, the two parties have cooperated in the Yixing Media Group. Where does Huayang Real Estate expand? The movie theaters under Yixing Media will be opened wherever they are.

Huayu is also the vice president of Huayang Group. He answered this question: "Currently, the overall debt scale is about 92%, and the total asset scale has exceeded [-] billion."

Last year, Huayang Group's total assets were only more than 400 billion yuan, and its debt was close to 100%, which can be said to be very dangerous.

"The liquidity problem is not difficult to solve." Fang Hong couldn't help smiling, glanced at Hua Yu, then picked up the teacup in his hand and said in an orderly manner: "For example, Brother Hua, you sell tea, and I sell tea cups. Play like this, Brother Hua, you buy 1 teacups from me, and I buy 1 ton of tea from you. In this way, you and I have sold 1 ton of tea and 1 teacups in our accounts. gone."

The beautiful assistant who was silent at the side heard this and couldn't help muttering in her heart: "Isn't this just trying to brush each other's achievements?"

Fang Hong still smiled, looked at the father and son and said unhurriedly: "Yes, it is the performance of the brush, but it is reasonable and compliant, and it is also reflected in the financial statements, and the taxes that should be paid are the same. All should be paid. Now there are accounts receivable of 1 ton of tea leaves and 1 teacups in the respective accounts of the two companies. Brother Hua said that I owed him 1 ton of tea leaves, and I said that Brother Hua owed me 1 teacups. money."

After a pause, Fang Hong added: "Then use these two accounts receivables to get financing from the market. You see, we have money, and there are guarantees from large groups. The assets are hundreds of billions of dollars, and there are sufficient receivables. The key is to start with more than 10% of the income for the pledge of the receivables, so just ask whether you will accept this lie-win deal or not?"

The father and son were stunned when they heard this. With such a sum of achievements, is the liquidity just like this?

Their father and son are not ordinary people, and they immediately understood Fang Hong's meaning. For example, they immediately thought that Huayang Group now holds 7.7% of Qunxing Capital's equity assets?
According to the valuation of 3500 billion, the value of this 7.7% equity can be valued at 269.5 billion. Even if the premium is cut off and evaluated according to the net asset value of Qunxing Capital, it is worth close to 200 billion.

This asset will be dead if it is placed as equity, but it can be completely replaced.

Isn't there liquidity?
And taking it as a pledge is definitely a blow to death. It is not too much to estimate the valuation of Qunxing Capital at 4000 billion. The 7.7% equity held is worth 308 billion. It is not a problem to replace the liquidity of 200 billion. big.

At the end, Hua Yongming said bluntly: "How to play?"

Fang Hong said clearly: "In this way, you Huayang Group will continue to finance our group of stars, and increase the shareholding ratio to 10%, that is to say, increase the shareholding by 2.3%. The valuation will be given, that is, you will pay another 2.3 billion, and then you will take the 5000% equity assets to the capital market for financing.”

Hearing this, Huayu nodded, and immediately said: "But Brother Fang, after Huayang converted the 100 billion debt into shares, the liquidity in Huayang's hands now, frankly speaking, taking out 10 billion is not enough. Where can I get it?" 115 billion financing funds?"

Fang Hong said calmly: "Qunxing Capital is rich, Qunxing will give you a bridge fund, I will lend you the money, and when you Huayang Group raises funds in the capital market, then return the money to me. All right?"

The procedure of this capital operation, simply put, is that Huayang is going to spend another 115 billion to increase its holding of 2.3% of the equity from Qunxing Capital.

But Huayang Group can't afford 115 billion at all now, what should we do?Qunxing Capital said that if we have money, we are willing to lend you. There are more than 1300 billion in the company's account, and the poor only have money left.

These 115 billion stars have crossed the bridge for you Huayang.

After receiving 115 billion from Qunxing Capital, Huayang Group backhandedly bought into Qunxing Capital, and the money flowed back to Qunxing Capital, and by the way, it also earned some interest and handling fees for bridge lending.

And what about Huayang Group?

In this regard, an additional 2.3% of the equity of Qunxing Capital was obtained, and at the same time, it had a debt of 115 billion to Qunxing Capital.

Because the 115 billion that flowed back to Qunxing Capital was Huayang’s equity financing, not the repayment of the 115 billion that was previously borrowed from Qunxing Capital.

The 115 billion yuan for demolition has not been liquidated and repaid, so the financial reflection is 115 billion yuan in capital liabilities to Qunxing.

At this time, Huayang Group holds 10% of Qunxing Capital's equity in the company's total equity, and then what is it doing with this 10% equity?Go to the capital market to refinance.

At this time, Qunxing Capital's valuation has been raised to 5000 billion, so the 10% equity is worth 500 billion.

Is Qunxing being valued at 5000 billion yuan high or not?

It's hard to tell.

You say it is overestimated. The valuation of 5000 billion is indeed a bit exaggerated, but it is not a big problem to say it is reasonable.

Because Qunxing Capital's asset scale of 3000 billion is supported now, and the most important thing is that the company's strong earning power is actually a super expectation. It may soon be able to achieve a scale of 5000 billion. Valuation filled.

Future income expectations are all about telling stories. It doesn’t matter whether you believe it or not. The key is whether the other party believes it or not.

And 10% of the equity is worth 500 billion yuan. With capital market financing, it is definitely not a big problem to replace the liquidity of more than 300 billion yuan. This is why it is necessary to reach a valuation of 5000 billion yuan. The goal is to be three inches. However, the external asking price is five inches, and the final bargaining price is two inches back, and finally three inches is still obtained.

After Huayang Group obtained this liquidity, it left about 200 billion yuan for itself, and the other money was used to liquidate and repay debts. The 115 billion owed to Qunxing Capital was repaid, and the debt relationship between the two parties was liquidated and terminated. Stellaris has no debt.

At this time, Huayang Group has 200 billion in liquidity in its hands, and Qunxing Capital has also obtained an additional 115 billion in liquidity after this operation.

The beautiful assistant who was silently listening on the sidelines, she didn't say a word but was greatly shocked in her heart. Tian Jiayi couldn't help muttering in her heart: "Is this the so-called capital operation? You really know how to play..."

Tian Jiayi silently glanced at Fang Hong beside him, and listened to her ears the whole time. If she wanted to comment, she could only comment like this: Empty glove white wolf!
After a while, Fang Hong explained logically again: "The extra 115 billion funds obtained by Qunxing Capital will set up an additional project company at that time, which is a shell company, and the 115 billion will be invested in, and 100% of the equity will be pledged. Replace 55 billion for the bank."

The bank is absolutely super happy to do this. The 115 billion is real cash assets, which fully meet the risk control standards.

Fang Hong continued: "Start another private equity fund, raising 230 billion yuan as the priority fund, and the 115 billion as the inferior fund, which is still the way for the big brother to be inferior to the younger brother."

When Hua Yongming and his son heard this, they expressed their acquaintance, this acquaintance.This kind of gameplay has been done several times, and I am familiar with it.

Fang Hong went on to say: "These 115 billion leveraged nearly 4 times the leveraged capital, which is about 400 billion, and then signed an agreement with your Huayang Group to use the 400 billion to buy all of your Huayang's Houses, but not direct pre-sales, bypassing this link.”

Because Fang Hong decided to use the 400 billion yuan to buy all the commercial houses developed by Huayang, but now there is no shadow of the house, let alone the pre-sale, the certificates are not complete, the land has not been photographed, and even the bricks for building the house are gone. How to pre-sale if the block has not been produced yet?
Therefore, it is a proper violation to engage in pre-sale under such circumstances.

Fang Hong will never do things that violate laws and regulations. All operations must be based on the premise of legal compliance, so they must be bypassed.

But the actual situation is to use the 400 billion to buy a house that doesn't exist at all.

……

(End of this chapter)