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Chapter 692: Gold Swallowing Monster Debt-to-Equity Swap


"You'll talk about it tomorrow, and you can go back to the office and look for me."

Come on, come on, don't just talk, let's drink one together. ”Xiao Bai stopped talking at the right time, took the lead in raising a glass, and then several people drank the wine in the glass.After eating, everyone went back to their respective homes.Following.Xiao Bai just walked into the office with his front foot in the morning, and Wang Chuanfu arrived on his back foot."

Mr.

Wang, you're really early!

Xiao Yang, go get two cups of coffee, and send them to the small reception room in a while. ”Xiao Bai couldn't help but laugh, and said in his heart, Wang Chuanfu's anxious temper can't be changed.The two walked into the small reception room and sat down, and Yang Yan asked someone to bring coffee.After Wang Chuanfu waited for the other party to go out, he said: "Xiao Dong, BOD Automobile will launch a new model this month, and it is expected that the sales of the two new models this year should be good."

However, our focus is still on new energy vehicles, on the one hand, BOD Automobile (Xiangjiang) Company to expand, on the other hand, we need to increase investment in research and development of new energy vehicle technology. ”"As a result, funds are indeed tight.Then, according to the amount you said yesterday, issue 10 billion yuan of corporate bonds, and I will be responsible for selling them to you. ”Xiao Bai smiled and promised.He didn't say anything about this last night, but he actually made a decision in his heart.Looking back, he will talk to Huang Mingxuan, Zhang Yilin and others, no matter how many bonds the other party can buy, he will let Times Technology Group digest the rest.Nowadays, Times Technology Group has a huge amount of idle funds on its books, and it is definitely no problem to lend some to BOD cars, not to mention a little interest income."

Chairman Xiao, this issue has been discussed within the company before, and I mean that this time the corporate bond will be issued in the form of convertible bonds.You tell me?

”Wang Chuanfu nodded with a smile, and then added."

I have no opinion, so what is your specific plan?"

Xiao Bai doesn't care whether this part of the funds will be precipitated, and it is also acceptable to change from a creditor to a shareholder.But Wang Chuanfu and his team obviously have their own careful thoughts, and Xiao Bai is too lazy to say anything."

Our plan is to issue a three-year convertible bond at a conversion price of $25 per share.Within the three-year period, creditors may or may not exercise the power to convert shares at any time. ”As Wang Chuanfu spoke, he took out a stack of materials from his briefcase, which was the specific plan for issuing corporate bonds this time.This plan was made by him overnight, and the efficiency is not ordinarily high."

Mr.

Wang, your movements are really fast enough!

Okay, let me leave the plan here, and I'll call you when the matter is implemented. ”Xiao Bai admires Wang Chuanfu's style of doing things very much, no matter how big or small, he never procrastinates, and the problem is not overnight is a habit engraved in the other party's bones.Wang Chuanfu heard Xiao Bai say this and knew that the matter was already in order.Therefore, he stopped being verbose, and immediately got up and took his leave.Xiao Bai dealt with some of the more important matters at hand in the morning, and then called Huang Mingxuan, Lin Jiadong, Zhang Yilin, and Jiang Yifan respectively, and said that BOD Automobile was preparing to issue convertible bonds."

Dong Xiao, I have no problem here, when the convertible bonds of BOD cars are issued, I am willing to buy a share of 2 billion yuan."

Huang Mingxuan didn't say a word and promised to buy 2 billion yuan of convertible bonds.Several other people, Lin Jiadong, Zhang Yilin, and Jiang Yifan all promised to buy a share of 1 billion yuan, and the three of them together are 3 billion yuan.Xiao Bai made a few phone calls and sold out a share of 5 billion yuan.There was still 5 billion yuan left, and he didn't plan to go to anyone else, so he immediately called Juvinson to the office: "Mr.

You, BOD Automobile wants to issue convertible bonds, and you can buy a share of 5 billion yuan in the name of Times Technology Group." ”"Okay, Xiao Dong.But do we want to carry out the share transfer operation within the three-year cycle?

I took a look at the plan, and the conversion price of 25 yuan per share is not low. ”Juvinson flipped through the convertible bond issuance plan that Xiao Bai handed him, and then asked."

Huang Dong and the others will probably carry out the share transfer operation after buying bonds.So we're just like them, and we'll follow as long as they do the transfer. ”BOD cars are definitely going to be listed, at most it will be a little longer.Therefore, it is impossible for Lin Jiadong and others to miss this opportunity, even if the price of the transfer of shares is slightly higher.Juvinson nodded, comprehended Xiao Bai's intentions, and then left Xiao Bai's office to arrange matters related to the purchase of bonds.With the rapid development of the times, the overall efficiency of its enterprises is also constantly improving.As the "flagship enterprise" of the Times Department, the book earnings of Times Technology Group are also rising.At present, Times Technology Group has accumulated 115 billion yuan in cash on its books, and Xiao Bai does not have to worry about funds at all.Juvinson asked the finance to prepare 5 billion yuan of convertible bonds for the purchase of BOD cars, and in addition to this fund, Times Technology Group still has 110 billion yuan of cash on its books.The following days.BOD Group quickly issued convertible bonds, and Times Technology Group and Huang Mingxuan and others actively purchased them, and the funds of 10 billion yuan were quickly received in full."

The automobile manufacturing industry is really a gold-swallowing monster!"

That afternoon, Mu Ziyuan took the transfer voucher of 5 billion yuan and let Xiao Bai look at it.Xiao Bai didn't say anything at the time, and after the other party left, he couldn't help but sigh.There are several gold-swallowing monsters under the Times Department, in addition to BOD cars, it also includes Times IC manufacturing and Times Optoelectronics.The development of BOD cars in recent years has been in a state of tight funds, Xiao Bai first considered letting BOD cars be listed in Xiangjiang, but the specific process was not smooth.Later, Shenzhen recommended outstanding local companies to be listed on the mainland, and BOD Automobile gave up the plan to list in Xiangjiang and applied for listing in China instead.However, so far, the listing has not been settled.In this process, Xiao Bai gave strong support to BOD Motors.Not to mention anything else, Times Technology Group previously purchased a 15 billion yuan convertible bond from BOD Automobile.However, this convertible bond has not been converted into equity until now.Now with the recent 10 billion yuan convertible bond, BOD Auto can be described as highly indebted.In fact, the development of BOD Automobile in recent years has also been extremely rapid, with a total share capital of 3.6 billion shares, net assets per share of 8.38 yuan, and a net asset value of more than 30 billion yuan.At present, BOD Auto's largest shareholder is BOD Group, which holds 75.5% of the company's shares.The second largest shareholder is Times Technology Group, holding 24.5% of the company's equity.If both bonds are converted into shares, the change in BOD Auto's equity will be obvious.Of course, Xiao Bai also told Huang Mingxuan and others in advance that the conversion price of the first 15 billion yuan convertible bond purchased by Times Technology Group must be much lower, and everyone can understand this problem without going into detail.Afternoon.Xiao Bai convened a meeting with Juwenson, Mu Ziyuan and others to discuss the exercise of BOD auto convertible bonds.Both Juvinson and Mu Ziyuan agreed to exercise their rights in full and convert the debt into shares."

Well, let's convert all the 20 billion yuan of debt in our hands into BOD automobile shares.The specific operation is carried out by Mr.

Mu, and Mr.

You is responsible for the review. ”Xiao Bai immediately made a decision to convert the BOD automobile convertible bonds in his hand into shares.The biggest advantage of this is that it can greatly reduce the asset-liability ratio of BOD cars, and when you queue up for the meeting, the probability of passing the review will be greatly increased.Huang Mingxuan, Lin Jiadong and others are also not ambiguous, and several of them have also carried out share exchange operations."

Mr.

Xiao, the 15 billion yuan convertible bond we purchased for the first time converted 1 billion shares of BOD Automobile.The second purchase of 5 billion yuan of convertible bonds converted 200 million shares of BOD Automobile, adding up to 1.2 billion shares. ”After Mu Ziyuan's operation was completed, he came to report to Xiao Bai.In addition, the 2 billion yuan convertible bonds purchased by Huang Mingxuan converted 80 million shares (80 million shares) of BOD automobile stocks, and Lin Jiadong, Zhang Yilin, and Jiang Yifan bought a total of 3 billion yuan of convertible bonds and converted 120 million shares of BOD automobile shares.At this point, the total share capital of BOD Automobile Manufacturing Co., Ltd. has become 5 billion shares.Among them, BOD Group holds 2.718 billion shares of BOD Automobile, accounting for 54.36% of the shares, and is still the company's largest shareholder.Times Technology Group holds 2.082 billion shares of BOD Automobile, accounting for 41.64% of the shares, and is the second largest shareholder of the company.The consortium formed by Lin Jiadong, Zhang Yilin and Jiang Yifan holds 120 million shares of BOD Automobile, accounting for 2.4% of the shares, making it the company's third largest shareholder.Huang Mingxuan holds 800 million shares of BOD Automobile, accounting for 1.6% of the shares, and is the fourth largest shareholder of the company.BOD Automobile Manufacturing Co., Ltd. was immediately renamed BOD Automobile Manufacturing Co., Ltd."

Xiao Dong, now the asset-liability ratio of BOD Automobile has dropped significantly, and the financial expenses have also decreased a lot, and the company's statements will look more eye-catching."

Wang Chuanfu had sufficient funds in his hands, and he came to bid farewell to Xiao Bai, preparing to inspect several production bases across the country and implement new projects in place."

You go and get busy with you, BOD has you, Yue Tong and Mr.

Lei, I'm very relieved."

Xiao Bai's attitude towards BOD Group and its holding company has not changed, that is, to fully delegate power and let Wang Chuanfu and others play freely.Except for issues related to the company's strategic direction, he generally doesn't worry much about it."

Haha, thank you for your trust!

Then I'll leave and see you in half a month. ”Wang Chuanfu saw that Xiao Bai had nothing to explain, so he left in a hurry.A month later, Xiao Bai received news that there had been progress in the listing of BOD cars in China, and the company's listing application would be discussed at the upcoming meeting."

Therefore, we have converted all the bonds in our hands into shares, which is very beneficial to the asset quality of BOD Motors."

Weekend.Xiao Bai took his family to Bangkok for a vacation, and it happened that Lin Jiadong and others also came to Thailand, so everyone gathered together in Jiang Yifan's manor.While drinking, Xiao Bai talked about the upcoming meeting of BOD cars."

Dong Xiao, if you hadn't changed your mind, BOD Motors would have been listed in Xiangjiang a long time ago.However, it would be better to be listed in China, after all, the valuation will be high. ”Lin Jiadong talked about the original incident, and selectively forgot many things.In fact, although Lin Jiadong patted his chest at that time, he also encountered a lot of troubles in the early stage in the process of handling it.Xiao Bai then simply injected 15 billion yuan into BOD Automobile in the form of convertible bonds, which terminated the plan to list in Xiangjiang."

Mr.

Lin, many companies under the Times Department can be listed in Xiangjiang, thanks to you!

I won't say anything superfluous, come, let's meet one!

”In the end, Lin Jiadong still helped Xiao Bai a lot, and the listing of BOD cars has been bumpy, not because of others, but because of the company itself.The expansion speed of BOD cars in recent years has been too fast, and the company not only makes traditional cars, but also actively develops hybrid vehicles and new energy vehicles.The company not only makes vehicles, but also makes various parts.This can be imagined, what a master Wang Chuanfu is who can burn money!

This is the main factor that causes BOD cars to be permanently short of funds.The previous BOD company can be said to be "highly indebted", with a high asset-liability ratio and ugly financial statements.However, after this overall debt-to-equity swap, the company's asset quality has been substantially improved, and the company's listing has made progress immediately."

Mr.

Xiao, I have expanded greatly in the mainland over the years, and I already have 17 factories and 22 production lines.I'm going to buy my factory in Thailand as well, what do you say?

”Jiang Yifan entered the mainland market and invested 100 million US dollars, and Xiao Bai also invested 200 million yuan, which is a total of more than 1 billion yuan.Today, Jiang Yifan's Yixin Electronics Co., Ltd. has a valuation of almost 80 billion yuan.Of course, the actual net asset value of the company is nowhere near that, but the speed of development has to be impressive.In this process, Jiang Yifan made full use of the preferential policies given by local governments, and also won strong support from various banks.Many loans are guaranteed by Xiao Bai, otherwise where would he get the funds for expansion?

At present, the share capital structure of Yixin Electronics is as follows: Jiang Yifan is the largest shareholder of the company, accounting for 60% of the shares.Heung Kong Yingsheng Investment (Shencheng) Co., Ltd. is the second largest shareholder of the company, accounting for 15% of the shares.Zhang Yilin and Lin Jiadong are the third largest shareholders, each holding 12.5% of the company's shares.Several shareholders happened to be there today, and Jiang Yifan took the opportunity to put forward his plan.He intends to acquire his own PCB factory in Thailand under the name of Yixin Electronics."

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I have no opinion, go back to a credible asset appraisal company for an appraisal, and then you can make a specific acquisition."

Of course Xiao Bai has no opinion, the biggest problem of Yixin Electronics now is that the scale is not large enough.If you want to quickly improve your world ranking in the industry, mergers and acquisitions are a shortcut.Of course, this involves Jiang Yifan himself, so it is important to make a fair assessment.Lin Jiadong and Zhang Yilin had reached an agreement with Jiang Yifan before, and when they saw Xiao Bai nodding at this time, the two hurriedly agreed.The matter was settled in principle.In the following days, Xiao Bai and his family went on vacation with peace of mind.Jiang Yifan went to Singapore and hired a world-renowned appraisal agency to evaluate his factory in Thailand.Xiao Bai didn't care about it, rested in Bangkok for a few days, and then returned to China.