Chapter 982: Liquidation of total assets
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The Rebirth of Wealth
- Eagle Eats The Chick
- 2830 characters
- 2021-03-02 12:35:52
As soon as Liu Hong left, Li Dong didn't even bother to read the documents.
After staring at the ceiling for a while, Li Dong suddenly straightened and said, "Bai Su!"
Bai Su hurriedly entered the doorway: "Mr. Li, what do you tell me?"
"Let Director Liu come here!"
There are many executives with the surname Liu in the distance, but generally Mr. Liu refers to Liu Hong, and Director Liu is the Chief Financial Officer Liu Hongmei.
Bai Su nodded immediately after hearing the words, turned around and called, and Li Dong was thinking about the next step.
This time he withdrew from the stock market, and he gathered ten billions of cash in his hands. This money must be planned well.
You can't fill in the holes wherever there are. You really need to do this, and it won't cost you billions.
After writing and drawing on paper for a while, Li Dong figured out how to maximize the benefits.
...
Before long, Liu Hongmei entered the office.
Not only did people come, they also brought a thick folder.
As soon as Li Dong summoned her, she knew what Li Dong wanted to ask.
For the past six months, Li Dong hasn't asked much about financial matters. At most, looking at the document report, Liu Hongmei was a little surprised by Li Dong's calmness.
After all, the group is doing it now, one day at a time. Li Dong didn't ask about it for half a year, and the time span is a bit longer.
Seeing that she was prepared, Li Dong did not go round the corner and said straight away: "Give me a general account of the current situation in the distance, and give me a summary of total assets, liabilities, net assets and book funds."
Liu Hongmei nodded and opened the folder and said: "Then I will briefly divide it. The distance can be divided into four major parts.
The four major areas of supermarkets, logistics, real estate, and distant technology.
Let me first talk about the total assets of the major subsidiaries. After all, our liabilities are a little messy, some are nominally the liabilities of supermarkets. In fact, logistics and remote technology are used.
In the later period, the financial side will further accelerate the independence of the accounting of the major subsidiaries.
After all, the chaos has been going on, which is not conducive to the development of the enterprise, and some reasonable tax avoidance measures are difficult for us to implement.
And it ’s a big trouble to wait until it goes public ... "
Li Dong nodded and said: "I have no opinion on this. You just go back and discuss with General Yuan."
"That line, I've done all the planning, and then you just remember to sign it."
Liu Hongmei made a joke, and then resumed his righteous way: "Then I will talk about the supermarket side, the remote supermarket, there are currently 10 branches.
Jiangbei, southern Jiangsu, Gan province, Jiangsu, Zhejiang, Hubei, Shandong, Henan, Beijing and Tianjin, Shancheng, Shanghai.
As of May, there were 642 stores in operation.
Among them, there are 19 first-level stores, 68 second-level stores, and 5 third-level stores ...
Of these more than 600 stores, only 68 of them belong to us, accounting for about 10%.
Other stores are leased, and the lease period is generally signed in about 10-15 years.
According to estimates, the total value of fixed assets in supermarkets is currently around 23 billion.
Including several of our large distribution centers.
In terms of intangible assets, the value is as high as more than 4 billion.
So comprehensively, the current total assets of Yuanfang Supermarket should reach 27 billion yuan. "
"27 billion ..." Li Dong knocked on the table, but didn't say much about it, but asked: "Our own property ownership ratio has reached 10%?"
Liu Hongmei nodded.
Li Dong smiled and said, "Not bad, better than I thought."
In the future, physical supermarkets will be hit. It can be said that higher and higher rents are also one of the culprits.
Labor and rent are the two biggest expenses.
Increasing rents have led to supermarkets making money for landlords in the end, especially for supermarkets with a low percentage of their own property.
In 2008, most supermarkets expanded the size of their stores by leasing. After all, opening a store and buying a property cost too much.
The distance can now reach 10%, which seems to be not much, but in fact it is already very high.
In fact, the average level in the industry today is generally only around 5%.
For old supermarkets, some small-scale emerging supermarkets have a lower percentage of free property rights.
Like Yonghui's side, I'm afraid it's less than 5%.
Really let major retailers increase the proportion of their own property stores. It was still a few years later. At that time, they were impacted by e-commerce, and the rents were getting higher. Expand.
In 2008, rents were not high, retail profits were large, and there was no impact from e-commerce. Few retail companies really care about these.
Of course, some companies with their own real estate development companies, such as China Resources and Suning, have an advantage over Bailian in this regard.
Li Dong is now gradually expanding the proportion of its own property stores, but it is too expensive to account for 10% has been his best efforts.
At present, Li Dong's direction is not in this direction. It is the correct way to complete the national layout first and then gradually privatize property rights.
Anyway, he is not in a hurry. Soon after he got up in the distance, the signed contracts are generally after 2020.
Unlike other supermarkets, the establishment time is long, and the contracts of a large number of stores will expire in the next three to five years. The future closure of stores is also related to the expiration of the lease.
The landlords are escalating rents, and some stores have more than doubled their rents. Enterprises have no choice but to close the stores.
Thinking for a while in my heart, Li Dongdao: "Continue."
Liu Hongmei heard that she continued to turn over the document and said: "The supermarket is just now, and the second is logistics.
Logistics companies are mainly divided into four major blocks. First, warehouse centers around the country.
Second, the express delivery point.
Third, the distant logistics park has not yet been completed.
Fourth, Sichuan Airlines shares.
In terms of storage centers, there are currently 6 storage centers in use, and there are a total of 4 storage centers under construction.
As for the express delivery points, the plan of thousands of stores last year has been completed. This year, 200 additional distribution points have been added, reaching a total of about 1200, covering almost the entire China.
The far-end logistics park has now begun its final phase of construction, and it is hoped that it will be officially put into operation early next year.
Today, we have invested a lot in logistics. Since the beginning of the year, most of the profits of supermarkets and malls have been invested in logistics.
In terms of investment in light theory, our total investment in logistics is not less than 10 billion, and the value of logistics companies is probably not less than 12 billion. "
Li Dong can't do anything about the logistics company's big money.
In fact, it didn't cost much to lay out the express delivery point, mainly the storage center and the remote logistics park. These two pieces alone took up six or seven billion of his funds.
Coupled with Sichuan Airlines shares, the real money is spent on these things.
And this is just the beginning. Later, according to Qin Hai's plan, it is necessary to invest in the construction of warehousing centers in first- and second-tier cities.
The reason why the assets only reached 12 billion is related to the plunge in land prices this year, otherwise there should be more than that.
Li Dong thought for a while and said: "So, logistics and supermarkets, the total assets can reach 39 billion?"
"Almost, but only our internal estimates. To really determine it, we must ask a professional assessment agency to conduct a large-scale liquidation assessment."
"This is not necessary, I just need to know one. You continue."
Liu Hongmei nodded, turned over the logistics page, and then said: "Next is Dongyu Real Estate.
Dongyu Real Estate has made relatively big moves recently. President Wu has successively won 6 plots in various places. In addition, with the plot in Xicheng District, the Hepingchuan government replaced 4 plots.
We now have a total of 23 undeveloped plots with a construction area of up to 5 million square meters.
Among them, the capital of Beijing CBD has the highest value, exceeding 3 billion.
According to the current market price, another 22 plots have a total price of more than 22 billion yuan.
In addition to these undeveloped sites, Yuanfang Building, Greenland Building and Yuanfang Plaza are also managed by Dongyu Real Estate.
Yuanyuan Property Company and Yuanfang Security Company are also under the jurisdiction of Dongyu Real Estate.
In terms of total assets, Dongyu Real Estate will even exceed supermarkets, and the total value will not be less than 30 billion, but ... "
Liu Hongmei glanced at Li Dong and coughed: "However, almost all of the land acquired in the later period has not been paid, but just signed a simple agreement. If you want to count it, the debt is not low."
At this point, Li Dong is of course clear that he let Wu Shengnan do it.
Pay a deposit first, and pay the remaining money for a few months, so the land acquired in the later period, except for the land replaced by the Hepingchuan government, is actually nominally distant.
Nodded his head, Li Dongdao: "I know this, don't worry about it first, and calculate the debts later."
"Okay, then I will continue to say the far technology side.
Yuanfang Technology is the easiest here. After all, we have raised funds before, and major institutions have offered quotations. This should be the most accurate figure.
According to the previous quotation, the highest quotation reached about 4.5 billion US dollars.
In the later period, we merged Wanjia.com and achieved great success in games, as well as video, pea pods, and Wantong cartoons, which are scattered together, which can reach a total of about 5 billion US dollars.
According to the current exchange rate, first give a rough data, 35 billion yuan. "
"270, 120, 300, 350 ..."
Li Dong murmured a few words, and then moved his eyes slightly: "So, if our total assets exceed 100 billion?"
He has been clamoring for a hundred billion group in the distance.
A long time ago, someone outside said that a distant group entered the 100 billion group army, but in fact it has always overestimated the distance.
It was only at this moment that Dongyu Real Estate had won a few pieces of land by means of no means, and the distance could not exceed the scale of 100 billion yuan.
In terms of debt, Liu Hongmei did not say that Li Dong knew that there would be no less.
Seeing Li Dong answering the phone, Liu Hongmei said with a smile: "Yes, Mr. Li. At present, our total assets have exceeded 100 billion, reaching 104 billion. But ..."
Li Dong coughed and said: "But the debt is much higher, right, it doesn't matter, I am mentally prepared.
After all, I borrowed some more money from the bank this year, and the land was not paid. The increase in debt is certain. "
Liu Hongmei said with a smile: "It is indeed the case. At the end of 2007, when the group did the liquidation, our total debt reached 22 billion.
In the past six months, we have paid back a part, about 2 billion.
In other words, the previous debt is only 20 billion.
However, during this time, our funds were relatively tight, and we borrowed another 1 billion from the bank. In addition, this piece of land has a new debt of more than 9 billion.
Calculated, our total debt is close to 30 billion. "
Liu Hongmei said and laughed suddenly: "But one thing is okay, it seems that it has more debt than last year, but in fact the debt ratio has dropped.
After all, our industry has increased a lot. According to the scale of 100 billion yuan, the debt ratio is only 30%. Compared with other companies, we are far lower in the distance. "
The debt ratio of the real estate industry has always been the highest, and some even exceed total assets.
The retail industry is not low, and it generally stays at around 50%.
When combined from a distance, the debt ratio is only 30%. Among large groups, they dare not say the lowest, but they definitely belong to the few categories.
Few domestic companies with hundreds of millions of dollars do not owe money.
At least Li Dong didn't know much. He probably remembered Lao Ganma's family more deeply. The strange flowers among the cattle seem to have no debt.
With a debt ratio of 30%, that is to say net assets, Yuanyuan Group has reached about 70 billion.
Compared with last year, half a year, it is about 30 billion more.
The value-added of the Internet industry has exceeded 15 billion yuan. In addition, the profit of various industries this year, such as shopping malls, supermarkets, PP, and logistics, have also exceeded 5 billion in half a year.
As for the remaining 10 billion, Li Dong sold stocks to inject 700 million. The replacement of the land in the western urban area and the kick-off of Pengfei Real Estate will raise the valuation by more than a billion.
The other 8 billion is in value-added intangible assets and fixed assets.
As the distance grows bigger and bigger, fame is actually money.
Brands, patents, and even human resources from afar can be counted as assets. This increase appears to be quite a lot, but it is actually within the controllable range.
But all of this must be based on the fact that the distant place can continue to maintain its current reputation. Otherwise, if the distant place goes bankrupt, the value of these industries will be greatly reduced.
If the distant place really went bankrupt, the current estimated 100 billion assets may be reassessed, and it is possible that the decline will reach half.
It's the norm in the business world to pull high and step down.
But in any case, the development of the distant place is not bad this year. Everyone is in danger of the financial crisis, and many enterprises are in a semi-closed state.
At this time, the distance can rise sharply against the trend, and I am afraid that it will scare a group of people.
After finishing the report, Liu Hongmei finally said: "The other is the book liquidity. At present, we only have 1 billion on the book, and 300 million is Weibo's money, which cannot be moved for the time being.
700 million is money for shopping vouchers, I am afraid it is not easy to move.
In addition, next month ~ EbookFREE.me ~ we will have a batch of payment due, the amount of more than 500 million, and part of the loan to be repaid, a total of about 1 billion.
Even if you use the money of the shopping voucher, you can't spend all the money on the account.
According to my thoughts, the expansion of logistics will be stopped next month, and the profits of the supermarket will be allocated to the group headquarters for backup. What does Mr. Li think? "
As a hundred billion group, there is no penny on the book, even if the debt ratio is not high, it is embarrassing.
Li Dong thought for a while and said, "I don't need to worry about this for the time being. I will open the board of directors to solve it.
The money for the shopping vouchers and Weibo don't move for the time being. It's really about to run out. I'm afraid Yuan has to come to me to settle the bill. "
Liu Hongmei smiled bitterly, just know it.
As for how Li Dong solved this problem, Liu Hongmei was too lazy to ask.
It is really impossible to make loans. Although loans are currently very difficult, loans can be made in the name of a distant place. If you do n’t dare to say more, billions are still okay.
This is also the reason why Yuan Chengdao and Liu Hongmei did not find Li Dong to complain this year.
If left in the past, the two had already broken the threshold.
After listening to these things, Li Dong already had a plan in mind, and then he should have plans on where he should spend the money on hand.
Liu Hongmei was sent away, and Li Dong's expression changed for a while, murmured: "Hundred Billion Group ... came quickly."
Although only the total assets have reached this range, in the business world, it is based on total assets. I have not heard of anyone who uses net assets to calculate the value of the company.
Regardless of the amount of debt, at least in the distance now, it is fair to say that it has entered the 100 billion group army.
Even Li Dong was a little trance at this time, how it felt like a dream.
Four years, this is only four years!
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