Started from Hong Kong Island

Chapter 245 [If You Don’t Accept It, You’ll Be Eliminated]

When acquiring the China Entertainment Real Estate Company, Cai Ziming was very sensible and decisive. Now, relying on the cash he had previously cashed out, he has started his road to prosperity again. He acquired a small listed company, and after restructuring the company's assets, he launched a fierce offensive on some real estate properties, reaping rich rewards.

Li Wendi still pays a lot of attention to his former opponents, because he is worried that these people will become the "Cheng Yaojin" on his road to growth, so he always pays attention to their actions. Although Li Wendi's strength is much higher than theirs, if there are too many ants, they can also kill the elephant.

Wu Lixing is not as decisive as Cai Ziming. He is more stubborn and may be hoping for a lucky break.

Mingcheng Real Estate Company Board Meeting
Wu Lixing still sits in that position, but today is the day to re-elect a new chairman of the board of directors, so presumably this position will be taken by someone else, which is also the guess of many directors present.

Li Wendi also brought Zhang Wentao, Gao Yi and Lin Dongmei to the event and sat down in everyone's eyes.

Wu Lixing said nothing, very gracefully, and seemed to have no intention of introducing Li Wendi to the directors.

Li Wendi smiled at this. Zhang Wentao wanted to stand up to break this awkward situation, but was suppressed by Li Wendi. He introduced himself to all the directors, "Hello, directors! My name is Li Wendi. I can be regarded as the largest shareholder of Mingcheng Real Estate. After all, I am the chairman of Changxin Real Estate Company."

"Hello, Mr. Li! I am Jiang Wen. Please take care of me in the future!"

Some directors were very tactful and vied with each other to introduce themselves to Li Wendi, hoping to discuss an opportunity for cooperation in the future.

As for the other directors, they should be Wu Lixing's men. There was a bit of hesitation in their eyes and they looked at Wu Lixing from time to time.

"Okay! The meeting is about to begin, everyone please stop talking." Wu Lixing said impatiently.

So, the meeting got down to business, and the first topic was naturally the election of the new chairman of the board of directors.

The final result was 41:48, Wu Lixing was defeated, and Li Wendi successfully became the chairman of the board of directors of Mingcheng Real Estate Company.

"Since I am already the chairman of the board, the board needs to make some adjustments. I propose that Mr. Zhang Wentao serve as a non-executive director, Ms. Lin Dongmei and Mr. Gao Yi serve as executive directors, Ms. Lin Dongmei serves as the manager of the company's investment department, and Mr. Gao Yi serves as the general manager of the company." Li Wendi was not worried about making things look bad. This was already his territory, so naturally he had to clean it up.

This time, Wu Lixing was very tactful and did not take the lead in opposing it, but chose to abstain.

So Li Wendi's proposal was smoothly passed, and the next step was to clear the company's debt problem.

"The company's debt is quite serious and has affected the company's normal operation, so I proposed to sell part of the property to Capital Real Estate Company to resolve some debts." Li Wendi continued.

"Mr. Li, the local market is about to pick up. Wouldn't selling now be a bit detrimental to the company's interests?" a director said tactfully.

"If we are unable to repay the company's debts, the bank may take away the collateral. At that time, we may not only lose those properties, but also have to bear the debts that exceed our assets. Wouldn't that be more detrimental to the interests of the company?" Li Wendi retorted in a deep voice.

"Ducheng Real Estate is my company. I can guarantee that Mingcheng Real Estate will not suffer any loss. Besides, this is just to clear some properties and some debts. The company's asset value will not change much."

The directors nodded slightly. It was not that they were being overly suspicious. There really were people who took the opportunity to legally embezzle the company's assets. That was also the shareholders' money.

"In order to better resolve the debt, I suggest issuing new shares to Changxin Real Estate Company. 500 million shares will be enough. As for the price, it will be set at 1 yuan per share. What do you think?" Li Wendi wanted to take this opportunity to let Changxin Real Estate completely control Mingcheng Real Estate Company and not give Wu Lixing any chance to turn things around.

"Mr. Li, are 500 million shares too many?" Wu Lixing, who had been silent for a long time, finally responded.

"According to my calculations, 500 million yuan can solve part of the company's debts and resume normal operations, so it's not too much." Li Wendi smiled and said, "Of course, you can also subscribe to some new shares, and Changxin Real Estate Company can reduce some of its burden."

When it comes to paying for the subscription, the directors all looked at each other in bewilderment. Everyone knows that under the current circumstances, it is impossible for them to take control of the company, so why not use the money to buy low-priced properties.

"Where is Wu Sheng? Do you want me to give you some?" Li Wendi looked at Wu Lixing and asked with a smile.

Wu Lixing didn't want it, and the reason was very simple: while increasing his own equity, he also increased Li Wendi's shares, which could be said to be no change. However, the funds in his hands became less, and he was indirectly helping Li Wendi deal with the company's financial problems.

The problems that Wu Lixing had not solved when he was in office were solved by Li Wendi as soon as he took office. Doesn't this increase Li Wendi's prestige?
As a result, Changxin Real Estate Company received another 500 million new shares, and its shareholding will reach 52.9%, firmly controlling Mingcheng Real Estate Company, while Wu Lixing's shares will become 34.3%, which will be far behind Li Wendi. After the meeting, Li Wendi asked Gao Yi while walking, "Are you confident that you can handle the affairs here?"

Gao Yi knew very well that this was Li Wendi's respect for him. If he wanted to become Li Wendi's confidant, he had to do a good job in Mingcheng Real Estate Company, so he nodded and said, "Within two months, I will make Mingcheng Real Estate Company look brand new, but I want some power of appointment and dismissal."

Li Wendi smiled and said, "You are the general manager, so of course you have the final say. You don't have to pay attention to other people's opinions. You can also transfer some people you are comfortable with from Metropolitan Real Estate Company."

Li Wendi firmly believes in the principle of 'trust in people you employ'. Gao Yi has been observed for some time and is a very professional talent. He also believes that Gao Yi can manage the two companies well.

"Thank you, boss!" Gao Yi was a little happy. The boss really handed over Mingcheng Real Estate Company to him to manage.

Zhang Wentao and Chen Dongmei next to him were very envious, but they knew that their abilities were not as good as Gao Yi's, so they could only envy him.

Gao Yi has always been vigorous and resolute in his work. After he took office as the general manager of Mingcheng Real Estate Company, he began to make drastic personnel changes. He fired all the "old servants" who were not in the right position. As for whether there would be compensation, he needed to investigate whether the person had made any mistakes in his work and whether he had caused losses to the company. The vacancies of those employees would naturally be filled by people transferred from Ducheng Real Estate Company.

Li Wendi heard some rumors that Gao Yi was too overbearing and was about to overshadow his boss. He just smiled.

Gao Yi did not come to explain anything. Gao Yi knew that the boss had already guessed the consequences, and if he came to explain, he would only be disappointing his boss's expectations.

Li Wendi also knew that Wu Lixing was behind all these things. He probably thought that Wu Lixing was too young and liked to be in the limelight. If something like this happened, Gao Yi would be negatively affected.

Unfortunately, Wu Lixing’s plan is about to fail.

The affairs of Mingcheng Real Estate Company were quickly settled and operations began to return to normal. However, Luckin Real Estate Company had some troubles under Zhang Yan's management. Since some employees disobeyed management, Zhang Yan could not find suitable candidates to replace them and could only make do with the compromise.

Li Wendi curled his lips at Zhang Yan's complaint. It was his fault for not making preparations in advance. Now he was in a mess, so who could he blame?

"Wendy, you are also a shareholder of Luckin Coffee. Can you introduce me to some capable assistants?" Zhang Yan said shamelessly.

Li Wendi rolled his eyes. He only had four capable assistants, so why should he introduce a few more to Zhang Yan?

"Hasn't Wen Yan Decoration Engineering Company been in business for a long time? Don't you have a few people who are easy to use?" Li Wendi asked.

Wenyan Decoration Engineering Company has always been managed by Zhang Yan, so he should have a few confidants.

"Then I will transfer all of them to Luckin Coffee?" Zhang Yan grinned slyly. It turned out that this was what he was thinking.

"Adjust it, but don't affect the daily business of Wenyan Decoration Engineering Company." Li Wendi said unhappily, help them to the end.

"Okay! Then you go ahead and do your work. I'm leaving." Zhang Yan achieved his goal and prepared to leave.

Li Wendi shook his head, looking helpless.

In fact, the situation of Luckin Coffee is not complicated. There are only more than 30 employees. As long as Zhang Yan catches a few typical examples and makes an example of them, those employees will naturally be convinced. The current economic situation is not good and many people are unemployed. Of course, the employees do not want to lose their jobs.

Unfortunately, Zhang Yan was worried about problems in the company's operation and did not dare to make any drastic moves. This gave the employees the illusion that the boss did not dare to touch us, which led to the current situation.

Fortunately, this guy knows how to seek external help, otherwise if he continues to hold on, it will sooner or later turn into a big problem.

If Li Wendi were to manage Luckin Coffee, he would definitely fire the most senior management member who is inactive first, so as to stop the trend.

(End of this chapter)