Gold Investor

Chapter 64 Introducing the wolf into the room (1)
Fang Yubin still shook his head: "At the beginning, I followed Mr. Ding and learned a lot. He has a saying that I have always regarded as a motto - don't make mortal enemies, don't seek out buddies. All people in politics and business should learn from him. Believe it as a creed. More friends, more roads, fewer enemies, less walls, unless it is absolutely necessary, don't make a deadly feud, if you can raise your hand, do it. In addition, don't seek out buddies, because there are no buddies you can rely on. "

1 Although hostile takeovers are not illegal, management can respond through market behavior
Come out after a thousand calls!
The adjustment plan of Rongding Capital's management organization structure that had been brewing for a long time finally surfaced, and everything was the same as what Fei Yunpeng revealed to Fang Yubin in the teahouse that day.All branches are withdrawn and replaced by new companies organized by business lines.Among them, the strongest and most eye-catching one is Rongding Venture Capital led by Fang Yubin.This new company, headquartered in Shanghai, has become the South Batian of the Rhodium Group. The entire south of the Yangtze River, including large-scale investment businesses in economically developed regions such as the Yangtze River Delta and the Pearl River Delta, are all integrated into Rhodium Venture Capital.

The new wave of personnel appointments also seems to embody the principle of all corners of the country.Wu Juntong, Fei Yunpeng's confidant, was promoted to vice president of the head office.The Ding family has been promoted and demoted, Fang Yubin is in charge of Rongding Venture Capital, and Ding Yifu's former secretary Gao Sijin has become the administrative director of the head office.Ding Yifu's chief financial officer, security minister, and others were moved to relatively marginal departments.There were also several candidates recommended by the vice president who were also entrusted with important tasks by Fei Yunpeng.Sitting in a row, sharing fruit and fruit, those who have been promoted are all happy, those who have been promoted and have been repaired are also dumb and eat coptis—there is no way to tell.

In Rongding's big chess game, Fang Yubin is just a pawn.But in the world of Rongding Venture Capital, he has become the undisputed master.Fang Yubin had long disliked Meng Wei, obediently handed over the position of finance minister, and was sent to be the director of the investment strategy research office.Fang Yubin didn't even think about what this laboratory was responsible for researching. In short, he stayed where it was cool.Wu Buda, who he trusted, took the position of investment director and became the forward general of Rongding Venture Capital.Qi Yu, on the other hand, took maternity leave for a period of time, and then offered to resign.Maybe it's the rich family conditions that allow her to be a full-time wife with peace of mind, or maybe she still doesn't want to face Fang Yubin.When Qi Yu's resignation report was submitted to his desk, Fang Yubin had mixed feelings, but he didn't say a word, just took out a pen and quickly signed his name.

Things in the new company were complicated, and Fang Yubin hadn't had a vacation for several weekends in a row.When Friday came, Fang Yubin decided to accompany Su Jin to Yangzhou, seeing that there were no major events this week.But on Friday morning, Wu Buda walked in with a document: "Mr. Fang, this is just from the head office."

Fang Yubin picked up the file and looked at it seriously.This is an invitation letter sent by Qiancheng Group to Rongding. Qiancheng Group is scheduled to hold a board meeting on Sunday. As the major shareholder of Qiancheng, Rongding is naturally among those invited.Fei Yunpeng personally wrote instructions on the invitation letter: "After the adjustment of Rongding's business organization structure, the general business of Qiancheng Group will be handled by Rongding Venture Capital. The head office does not need to send people to attend the board meeting. I suggest Yubin to go."

Although it was just a "suggestion", with a swipe of Fei Yunpeng's pen, Fang Yubin's trip to Yangzhou was undoubtedly in vain.After putting down the file, Fang Yubin immediately picked up the phone and called Fei Yunpeng.Fang Yubin said respectfully: "Mr. Fei, I would like to ask for instructions. Is there any position that we need to emphasize in this board meeting?"

Fei Yunpeng seemed to be busy with official duties, so he simply explained a few words: "You are not polite at the meeting, just speak up if you have something to say. You can ask Cao Bohua of Huahai Group, they are constantly moving in the secondary market and massively increasing their holdings in Qiancheng What are the plans for stocks? Also, how do Wang Cheng and the others judge the current situation? Regarding Hua Hai’s increase in holdings, what is the attitude of Qiancheng’s management, and do they welcome it or have reservations?”

Putting down the phone, Fang Yubin immediately ordered Wu Buda: "Book me a flight to Binhai tomorrow." Wu Buda was about to turn around, but Fang Yubin stopped him again: "Go and contact Qiancheng Group and ask them, there are all those who attended the board meeting. who."

More than ten minutes later, Wu Buda replied: "Wang Cheng, the chairman of Qiancheng Group's board of directors, is not in Binhai. The meeting on Sunday will be chaired by Yu Dongming, the company's executive vice president. In addition, all major shareholders will send representatives to attend."

Fang Yubin asked again: "Who is coming from Huahai Group? Is it Cao Bohua?"

Wu Buda said: "Cao Bohua will not come. It is Cao Bohua's younger brother Cao Zhonghua who will represent Huahai Group at the board meeting."

Fang Yubin hummed.I thought to myself, Fei Yunpeng's instructions seemed impossible to implement, and Wang Cheng and Cao Bohua didn't even show their faces.Did something really happen to them, or did they dodge deliberately because they had a premonition of something?

On Saturday afternoon, Fang Yubin flew to Binhai, and Qiancheng Group sent someone to meet him at the airport.In the evening, Yu Dongming hosted a banquet in honor of the delegates who came to Binhai from other places.This time, Fang Yubin was determined to make a bad face, so he simply put up his airs.He said that he was going to meet a friend in the evening, but declined Yu Dongming's banquet.

On Sunday, the board meeting was held as scheduled, and the first item on the agenda was Yu Dongming's report on the business performance of the company.After the briefing was over, Yu Dongming asked as a matter of routine: "I don't know if you all have any opinions on the content of my briefing just now?"

"Let me say a few words." Fang Yubin raised his hand and said, "These briefing materials were sent to us last night, and we just read them again from the script. Rongding has no objection to the company's recent business performance." However, we are very concerned about the equity changes in Qiancheng Group. With this board meeting, I think it is necessary to put the issue on the table."

Fang Yubin went on to say: "Recently, someone has aggressively purchased the shares of Qiancheng Group in the secondary market, and their shareholding ratio has approached 15%, threatening Rongding's position as the largest shareholder. Regarding this change, I don't know what the management of Qiancheng Group has to say. What do you think?"

Seeing Fang Yubin's attack, the atmosphere of the meeting suddenly became tense.Yu Dongming sat in his seat and didn't say a word.It was Cao Zhonghua who took over the conversation: "Mr. Fang, I don't know if the company you mentioned that bought shares in Qiancheng in the secondary market refers to the Huahai Group?"

Fang Yubin nodded and said, "That's right. Huahai Group has made a lot of moves recently. As the major shareholder of Qiancheng Group, we must be vigilant."

Cao Zhonghua had a strong southern Fujian accent, and he said with a smile: "The Huahai Group acquired the shares of Qiancheng because they were optimistic about the prospects of the company and hoped to share the fruits of development. However, is the information you have inaccurate? As far as I know, Huahai recently acquired less than 4% of Qiancheng's equity, so where did the figure of 15% come from?"

Fang Yubin smiled: "Cao Boss said that, but he is too modest. In addition to Huahai Group, there is also a trading company from Xiamen and a financial guarantee company registered in Beijing that have increased their holdings recently. After careful study, the three companies In fact, they are a family, and they are all affiliated companies under Huahai. Your current shareholding ratio is approaching 15%, which is comparable to that of Rongding."

Even though the lie was exposed in public, Cao Zhonghua still had a smile on his face: "It's not worth mentioning, it's not worth mentioning. Rongding is rich and powerful, we dare not compare with it."

Fang Yubin did not tangle with Cao Zhonghua, but turned his eyes directly to Yu Dongming: "Huahai Group chose to increase its shareholding in Qiancheng, so there are people's considerations. What I care about is the attitude of the management of Qiancheng Group. Regarding the current equity What do you think about the change? For many years, Rongding has been the largest shareholder of Qiancheng, will this partnership change?"

Forced into a corner by Fang Yubin, Yu Dongming had no choice but to say, "Huahai's purchase of stocks in the secondary market is an aboveboard market behavior. As the management of Qiancheng, we must abide by market rules and cannot intervene."

Fang Yubin has a task ahead of him, so naturally he will not let it go. He continued, "Of course I know that as long as any company increases its shares in Qiancheng, as long as it complies with market rules and relevant regulations, Qiancheng's management has no right to intervene. I don't expect Whoever came out to intervene just wanted to know the management's attitude clearly. What is your attitude towards Huahai's increase in holdings? Whether you welcome it or resist it, did you know it beforehand?"

"This issue is very critical." Fang Yubin emphasized his tone, "If Huahai's increase in holdings is to bypass the management, it is an out-and-out hostile takeover. Although a hostile takeover does not violate the law, the management and original shareholders can also Respond appropriately through market behavior."

Fang Yubin also said: "If the management supports Huahai's acquisition, but Rongding is kept in the dark, it is another level of problem."

Yu Dongming quickly waved his hand: "You are worrying too much. Rongding has cooperated with us for many years, and no one will hide it from you. I didn't know about Huahai's increase in holdings in advance. As for the current attitude, I can give a clear answer: No support, no objection. Huahai’s increase in Qiancheng’s shares is a legal market behavior, and we will not and should not hold any special attitude, so let’s treat it with a normal heart.”

Seeing Fang Yubin's attitude of swearing not to give up until he achieves his goal, Yu Dongming resorted to the procrastination formula again: "I know, Boss Fang must have a lot of questions. As long as you ask, I will know everything and talk about it. But The board of directors still has related agendas, can I answer your other questions after these agendas are over?"

After all, this is their home court, and several directors came out to smooth things over, so Fang Yubin could only bear with it for the time being.When it was time for a break at noon, Cao Zhonghua took the initiative to find Fang Yubin: "It's rare for you to come to Binhai. After the board meeting, I'll be the host tonight. I'll invite Mr. Fang to have a few drinks. I wonder if I can show you face?"

"I'm afraid it won't work tonight. I'm planning to take the evening flight back to Shanghai." Fang Yubin didn't reject talking with Cao Zhonghua, and even took this opportunity to touch the opponent's cards.But if Cao Zhonghua agreed as soon as he opened his mouth, it would seem too urgent, so he had to pretend to decline.

"Isn't it enough to change the ticket?" Cao Zhonghua is very attentive, "In addition to you tonight, I also invited Yu Dongming and another friend. There are some things we did not do well before, so tonight I will make an apology to you .In the future, we will all be shareholders of Qiancheng, so please take care of us."

Of course, Fang Yubin could understand the meaning of Cao Zhonghua's words - at the board meeting, please stop making trouble.What's the matter, let's come down and talk.Whether it's Yu Dongming or Cao Zhonghua, Fang Yubin doesn't want to completely tear himself apart with them.Now that people have talked about this, I will stop for the time being.

2 Don’t talk about being a sound financial investor if you don’t have your own funds

The afternoon meeting was uneventful. After the meeting, Cao Zhonghua took Yubin and Yu Dongming with him to a fishing village in the suburbs to eat seafood.The fishing village chosen by Cao Zhonghua is called Xi'ao. It is backed by mountains and faces the sea. It is shaped like a half moon. The coastline is long and gentle. Some private yachts are moored in the water, which adds a bit of beauty to the fishing village.Because there are not many tourists, the place near the sea has a taste of a private beach.

The freshly landed seafood is neatly placed at the entrance of the restaurant, whichever one pleases the shop owner, and the delicious dishes will be served on the table soon.Seeing that the dishes on the table were almost ready, Cao Zhonghua enthusiastically acted as the host again: "When you arrive in Theo, you must try the sea urchin. The place where sea urchins are produced in large quantities in China is here except Dalian. The same sea urchins, the quality of the two places But it is quite different. Dalian sea urchins have the unique heroism of the north. They grow in the cold deep water, with a lighter color, thicker meat, and strong fragrance. The sea urchins of Theo have the unique tenderness of the south. They generally live in water depths of one meter. There are many stone crevices, with a beautiful golden color, tender, smooth, and a little sour taste. When you come here, sea urchin steamed eggs, sea urchin rice, and sea urchin fried rice are all delicacies that must be tasted.”

After receiving the sea urchin steamed eggs from Cao Zhonghua, Fang Yubin was not in a hurry to move his chopsticks, he said slowly: "Cao Boss is so kind, and Yu Boss is personally accompanying him, such a big battle, you are not just asking me to taste the seafood, right? "

Cao Zhonghua laughed again, his laughter sounded simple and honest, but his eyes shone with the unique shrewdness of a southern Fujian businessman.The laughter stopped, and Cao Zhonghua said: "I said it at noon, and tonight I will make an apology to Mr. Fang. There are some things that we didn't consider carefully at the beginning, and it is inevitable that others will misunderstand."

Cao Zhonghua continued: "Hua Hai has admired Qiancheng for a long time, and has always had the idea of ​​strengthening cooperation. Not long ago, we finally put this idea into practice and bought some shares of Qiancheng in the secondary market."

"However," Cao Zhonghua changed the subject, "Hua Hai's investment in Qiancheng absolutely has no unreasonable intentions. We will neither interfere with the daily operations of the company, nor will we threaten Rongding's status as a major shareholder. What we want to play is just A purely financial investor."

Cao Zhonghua continued: "For many years, Rongding has been the major shareholder of Qiancheng. Now that Huahai has come to join the group, he should go to Mr. Fang to pay a visit to the pier due to reason and reason. But at that time, the situation was urgent, and we delayed the matter , I'm really sorry!"

Cao Zhonghua picked up the wine glass: "Today I sincerely apologize. There are thousands of mistakes, all of which are our omissions. Compared with Rongding and Qiancheng, Huahai's scale is much smaller. I hope to share the development dividend, and I also want to learn something from you big companies."

"You're being polite." Out of politeness, Fang Yubin downed a glass.Putting down his wine glass, he turned his gaze to Yu Dongming: "Mr. Yu, it seems that Hua Hai increased his shareholding in Qiancheng, you already knew about it?"

"Where is this talking?" Yu Dongming put down his chopsticks, shook his head and said, "At the board meeting this morning, I clarified that it is normal market behavior for Huahai to increase its stake in Qiancheng, and we didn't know it beforehand. Of course, In view of Hua Hai's big moves, we noticed it afterwards."

Yu Dongming also said: "When Huahai's shareholding exceeded 10%, we met Mr. Cao and his brother Cao Bohua several times, and clearly expressed the management's attitude. Some people are optimistic about the development prospects of Qiancheng, and we welcome them. Scrambling for funds in the secondary market is a market behavior, and we will not obstruct it. However, the management has two red lines: first, even if Huahai’s shareholding ratio has risen sharply, it should still not interfere with the management’s daily operations; , Qiancheng and Rongding have been partners for many years, and we do not want the status of Rongding's largest shareholder to change."

Fang Yubin laughed: "That said, I have to thank Mr. Yu. No matter when you are, you never forget Rongding."

Yu Dongming said: "Our cooperation with Rhodium has not been for a day or two. Without your support, Qiancheng would not be where it is today. Huahai also made it clear that it is willing to be a financial investor and will not cross the red line. "

Cao Zhonghua immediately stated: "President Yu is right. We are self-aware, we will neither interfere with the daily operation of the company, nor will we overreach ourselves and challenge Rongding's position as a major shareholder."

Cao Zhonghua still laughed: "These situations should have been reported to Mr. Fang long ago, but I couldn't find a suitable opportunity. It's really my sin to make you angry at the board of directors."

"How can you get angry?" Fang Yubin waved his hands and said, "It's just a few more questions."

Fang Yubin picked up a piece of food with chopsticks, chewed it slowly and said, "There is one more thing I want to ask Mr. Cao for advice."

"Please tell me." Cao Zhonghua sat up straight.

Fang Yubin wrote: "With all due respect, Huahai's financial strength is slightly inferior to that of Rongding. Over the years, most of the money that Rongding invested in Qiancheng was its own funds, and there was no pressure for short-term returns. Therefore Only then can we have the patience to play the role of a financial investor. Huahai has accumulated a large amount of funds in the secondary market in a short period of time, and consumed an extremely large amount of funds. Presumably, many of them were raised from outside. These funds need to be repaid with principal and interest. I don't know, how can Hua Hai be a stable financial investor in the face of such pressure?"

(End of this chapter)