Steel Tycoon Reborn

Chapter 1032: Flee

Lord Xue Ying, Legend of Dragon King, Super Soldier King, Cultivation of Cultivation, Supreme Martial Arts, King of Eternal Night, My Neighbor is Banshee, Legend of Fairy Wood

It was not clear how much material Hu Xi had in his hands, or whether the turmoil would spread far and wide. Shen Huai and Sun Yalin spent the night in Yushan, and they drove back to Xucheng early the next morning.

“Remind Xu Pei at this time, I’m afraid it’s too late.” Sun Yalin said.

“We can only be on our own.” Shen Huai sighed softly.

Cui Weiping and Hu Lin launched the offensive against Xu Pei in advance, which means that the storm caused by Pucheng Group will not be limited to Huaihai Province, and the development strategy of Pucheng Group over the years has been too radical and speculative, leaving too many leftovers. The handle can be grasped by others, and it is not something that can be eliminated by reminding him in time.

At the moment, the Meishan Iron and Steel Department can only be on its own and check all debts as soon as possible. Defective debts should be cleared in time to avoid being implicated in disasters.

Fortunately, Guosen Investment’s trust business structure has been adjusted for more than a year, and the proportion of corporate debt has dropped significantly. The trust business is mainly concentrated in infrastructure and real estate investment, and it is not worried that it will be implicated by the turmoil caused by Pucheng Group. Crisis comes.

Shen Huai didn’t want to turn a blind eye, but the mention of Pucheng Group’s debt problem on the phone seemed too abrupt.

Until mid-May, the inauguration ceremony of the science and technology park invested and constructed by Pucheng Group in Zhunan New Town was held. At the reception dinner, Shen Huai had the opportunity to meet Li Gu and Xu Pei.

In the past two years, real estate has also been a key direction for the diversified development of Pucheng Group.

Pucheng Group invested and constructed the first phase of Pucheng Science and Technology Park in Zhunan New Town, which is east of Zhunan Central Business District.

In addition, Pucheng Group has also invested in a number of residential, hotel and office buildings in the main urban area, and the total investment scale is staggering. In terms of the development scale of 2001 alone, the real estate companies under Pucheng Group, or other companies that are in the name of technology development but are actually based on real estate development, the scale of real estate projects developed by Pucheng Group in 2001 is not necessarily Slightly smaller than Dongjiang Real Estate.

Shen Huai also thought of another possibility for Cui Weiping and Hu Lin to launch their offensive ahead of time, that is, Pucheng Group could get through this period of time, and the financial difficulties it faced could be alleviated—once Pucheng was asked to advance the most problematic financial loans To make up for it, Hu Xi would attack Pu Cheng and Xu Pei again with these problems, and he would fall short.

At present, the domestic economic and financial system has not been fully established, and many fields are still in the stage of crossing the river. Determining heroes based on success or failure is also a status quo in the current reform.

Many new affairs, even if there are some irregularities in the procedure and some rashness, can be regarded as a bold and creative attempt or change as long as there are no serious consequences.

Only the losers will be picked out and swallowed all the bitter fruit.

Shen Huai took advantage of an unobtrusive opportunity to talk to Li Gu about Pucheng’s debt problem:

“In addition to the city commercial banks in Xucheng and Donghua, Huaihai State-owned Assets also intends to inject capital into city commercial banks and credit unions in other cities in the province. After preliminary adjustments, Pucheng Investment has invested a total of four capitals in the past two years. 100 million yuan, and participated in the capital injection and reorganization of city commercial banks in Guanyun and Yicheng. However, in the past two years, Pucheng has used its status as a major shareholder to loan a total of more than 3.5 billion yuan from city commercial banks in these four cities. Funds. Pucheng has made too much money for this purchase, and I have to consider whether Pucheng’s aggressive loans and excessive use of loans from local commercial banks will affect the subsequent development. I don’t know if Pucheng’s loans are so aggressive. To what extent is Cheng Investment’s thirst for funds, I am worried that Pucheng has only lent 3.5 billion funds from four prefecture-level city commercial banks, plus the loans from national commercial banks and other financial institutions, the number will increase. Wouldn’t it be so big that it’s unimaginable?”

“Are you worried about the crisis in Pucheng Group’s debt?” Li Gu frowned slightly, knowing that Shen Huai would not mention these issues for no reason.

Shen Huai nodded.

“You are not the only one who raised this issue today,” Li Gu said in a low voice, “Pucheng now has four commercial real estate projects entering the sales stage, and the return of funds is accelerating, and the integration of M&A assets by the three listed companies is also simmering. After the initial chaotic period, the situation should improve later…”

Shen Huai didn’t say a word, and used chopsticks to slap the dishes on the plate in front of him.

“Are you worried that Pu Cheng might not have enough time?” Li Gu asked with a frown.

“…” Shen Huai nodded. If Cui Weiping, Chen Baoqi, Dai Lesheng, Hu Lin and others launch the offensive again after the central re-election meeting is held in November, and after Zhao Qiuhua is officially the director of the State Council in March next year, Pucheng Group will still be able to There is a key adjustment period in the last nearly one year. During this period, two or three billion funds can be withdrawn, and the most serious loopholes can be plugged, which may be able to relax and escape.

Obviously, Cui Weiping and Hu Lin did not seem to give Pu Cheng too much time.

Li Gu sighed softly: “Pucheng is a little impatient to catch up with Meigang’s development in the past two years.”

Li Gu is not ignorant of the current problems of Pucheng Group.

Any company that wants to develop rapidly will inevitably face the problem of high-debt operations.

Even in the provincial state-owned assets system under the leadership of Shen Huai, the scale of total liabilities has continued to increase.

In addition to Huaihai State-owned Assets, Meigang Group participated in the construction of Qingfeng Kengkou Power Plant, participated in the construction of cascade hydropower stations in the middle and upper reaches of the Zhujiang River, and participated in the double-track project of Xudong Railway. The first phase of the project will be fully launched, and the delayed PX and ethylene projects of Xinpu Refinery will also be launched soon, and the total debt assumed has already exceeded 20 billion.

The ability of companies to take on debt, however, makes a world of difference.

The net profit generated by the Meishan Iron and Steel Department in one year is nearly 10 billion yuan, and the 20 billion yuan debt scale can be digested in only two years. Naturally, it will not cause any crisis.

As long as there are no major loopholes in Pucheng Group’s various illegal actions in the process of large-scale lending, Xu Pei can avoid being suppressed; after all, Hu Lin and Ronshine Group are not innocent, and the handle of the Dongjiang Securities case was returned to Xu Pei held it in his hand.

The key is to see whether Pucheng’s integration after large-scale asset acquisitions can be successful, whether it can continuously generate enough profits, and timely make up for the financial loopholes that have been bred in large-scale lending and mergers and acquisitions.

As long as the financial loopholes are plugged and the debt crisis is not induced, even if Pucheng’s behind-the-scenes manipulation of the stock price is confirmed, in the current environment, Zhao Moshi will throw a few scapegoats out of the sky without worrying about hurting the Pucheng Group. The main body, let alone worry about involving Xu Pei’s head.

However, Shen Huai is not too optimistic about the integration of Pucheng Group’s M&A assets.

Li Gu looked at Shen Huai’s face seriously, and seeing his solemn expression, he thought that he might have a problem with Pu Cheng, but he was too optimistic. He also knew in his heart that Pu Cheng was eager to catch up with Meigang’s development in the past two years, but Zhao Moshi was not the only one who was eager.

Li Gu frowned, and Zhao Moshi came over with wine: “What are Secretary Shen talking about with Mayor Li, Mayor Li seems to be very worried?”

“Oh, nothing.” Li Gu lowered his frown temporarily. After all, he shouldn’t tell Zhao Moshi directly.

Shen Huai looked at Zhao Moshi’s calm calm, and thought to himself that his mentality was really calm. Did he decide that Xu Pei would clean up the mess for him, or he had other plans in his mind, and he was just pretending to be calm at this time?

Shen Huai raised his glass with a smile, and said to Zhao Moshi, “The establishment of Pucheng’s science and technology park will not only strengthen Pucheng’s scientific research capabilities, but also contribute to the growth of Xucheng into a technologically innovative industrial city. I would like to congratulate you, Mr. Zhao.”

From Shen Huaishan’s Gao Shuiyuan’s eyes, it was difficult for Zhao Moshi to guess his depth.

Shen Huai also thought that Zhao Moshi had secretly sent someone to monitor his residence last year, as if it had never happened at all.

Holding the wine glass, Zhao Moshi ran to another table to toast, Shen Huai smiled lightly, and said to Li Gu, “Zhao Moshi still looks very confident…”

“Cao Zhengjiang doesn’t seem to think that Pu Cheng has serious problems at this time, what about Jiang Yibin and Ding Jianguo?” Li Gu asked.

Shen Huai spread out his hands and said, “At least at the meeting of the party group of the State-owned Assets Supervision and Administration Office, there was no feedback of relevant information.”

“Hey,” Li Gu sighed lightly. If Zhao Moshi asked Cao Zhengjiang, Jiang Yibin, or even directly asked Governor Xu Pei for help, it means that Pu Cheng’s problem is not so serious that there is no cure, but Zhao Moshi is more calm at this time. , the more Li Gu was worried about the seriousness of the problem.

Shen Huai wanted to tell Li Gu to guard against the possibility of Zhao Moshi fleeing, but he gave up thinking about it, he didn’t need to wake up for this kind of thing.

After the dinner, Shen Huai left the hotel. He believed that Li Gu would communicate with Xu Pei after realizing the relevant issues. He did not know what countermeasures Xu Pei would take.

************************

In the past few years, Pucheng has opened up and closed in the capital market, setting off great waves. It has acquired as many as 100 companies in China, mainly in the province.

Aside from personal grievances, Shen Huai does not want Pucheng to collapse at once. He also does not know how serious the collapse of Pucheng, an enterprise building mainly supported by large-scale mergers and acquisitions, will have a serious negative impact on the province’s economic development. .

In the next few days, Shen Huai noticed that Jiang Yibin came and went in a hurry, and he was rarely seen in the National Finance Building. Even if he met on other occasions, he could see the expression on his face was very stiff.

Shen Huai guessed that after Li Gu communicated with Xu Pei, Xu Pei, Cao Zhengjiang, Jiang Yibin and others should have already realized the debt problem in Pu Cheng, and they have already made their opponents smell a strong **** smell.

During this time, Shen Huai also further collected the debt materials of Pucheng Group from the periphery.

The total debt of the Pucheng Department is much higher than Shen Huai’s previous estimate, possibly more than 15 billion, and the problem is more serious than Shen Huai had previously thought.

In addition to borrowing heavily from financial institutions such as banks and trust companies, Pucheng has raised a lot of funds needed for large-scale mergers and acquisitions, as well as for asset integration, business operations, and payment of debt and interest, delaying relevant parties with a large amount of construction and goods payments. Large and small credit companies in Xucheng and other places borrowed at high interest rates, and also sold nearly 2 billion “guaranteed income” funds through Huaihai Securities Company.

Shen Huai originally thought that the provincial state-owned assets should not be implicated too deeply, but the situation is obviously not as optimistic as he expected. The 2 billion “guaranteed income” fund and the high-interest borrowing from credit companies in Xucheng and other places actually involve illegal fundraising. .

Shen Huai can’t imagine what kind of mess will happen once Pu Cheng can’t support it and the debt crisis breaks out.

As far as the provincial state-owned assets are concerned, if the “guaranteed income” of 2 billion borrowings cannot be recovered from Pucheng, or only part of it can be recovered, Huaihai Securities is the largest securities company in Huaihai University and one of the most important components of provincial financial assets. It is very likely that it will be directly dragged down.

Huaihai Securities is a provincial state-owned securities company.

After Shen Huai was established in Huaihai State-owned Assets Group, he was no longer in charge of the State-owned Assets Supervision and Administration Office and the work of industrial rights. Before, due to the strong independence of Huaihai Securities, Shen Huai rarely had the opportunity to directly ask about its business status, and belonged to the Provincial State-owned Assets Office. A lot of supervision work is also mainly in charge of the Supervision and Management Office of the State-owned Assets Supervision and Administration Office.

Those are mainly the work in charge of Jiang Yibin and Ding Jianguo.

These problems have never appeared at the party group meeting of the State-owned Assets Supervision and Administration Office. Shen Huai guessed that Jiang Yibin and Ding Jianguo might have called Zhao Moshi into the water.

The total market value of Pucheng’s three listed companies is more than 40 billion, and the net assets are nearly 10 billion. It is said that the total debt of Pucheng’s 15 billion is not ridiculously high, but the bigger problem is that the three Pucheng’s listed companies are listed. The company’s stock price was all manipulated by Pu Cheng behind the scenes.

Pucheng’s borrowing from financial institutions such as banks is mainly based on the equity of three listed companies as collateral.

In the past three years, several securities offices with a high degree of association with Pucheng have frequently bought and sold stocks of these three listed companies with a total value of 30 billion yuan.

Through such frequent back-and-forth operations, Pu Chengcheng has forcibly increased the equity of the three listed companies by eight times in the past two or three years.

The current stock price has been dauntingly high, except for speculators who do not know the life or the life and the lured stragglers, almost all other investors and institutions have withdrawn from these three listed companies.

In order to support the current stock price, Pucheng can only use a large amount of funds to forcibly acquire all the sold tradable shares in the secondary market; and the large amount of interest expenses also exacerbates the fragility and tension of Pucheng’s capital chain.

Once Pucheng’s funds can’t hold up, the stock price collapses, or the interest cannot be paid in time, causing creditors to collect debts, it will inevitably be like a domino, the crisis and structural risks within the Pucheng Group and those involved in it will be comprehensively induced.

Although no direct news came out, Shen Huai had no intention of moving forward, but he could guess that Xu Pei still wanted to preserve Pu Cheng’s intentions.

Even Xu Pei, Shen Huai guessed that he couldn’t bear the serious consequences of Pu Cheng’s sudden collapse.

In addition to strengthening the financial and business verification of Huaihai state-owned enterprises, Shen Huai has been thinking about how Xu Pei intends to alleviate the crisis faced by Pucheng Group, and how Cui Weiping and Hu Lin intend to kill Pucheng Group. one strike.

However, these two issues did not make Shen Huai tangled for too long.

On the morning of June 9th, Shen Huai drove to the Guojin Building. As soon as he entered the office, before his **** was hot, he heard Tang Baocheng greet Jiang Yibin outside the office:

“Secretary Jiang, are you here to find Secretary Shen?”

Hearing Tang Baocheng and Jiang Yibin talking in the aisle, Shen Huai opened the door and saw Jiang Yibin standing in the aisle with hesitation and anxiety on his face.

Shen Huai’s office and special conference room occupy half of the aisle from the elevator, while Tang Baocheng and Jiang Yibin’s offices are all upstairs.

If Jiang Yibin hadn’t taken the elevator down with Tang Baocheng, he would have realized that Jiang Yibin had hesitated in the aisle outside his office for a while without knocking on the door.

“What is the matter with Secretary Shen looking for me?” Shen Huai asked, inviting Jiang Yibin to come in.

Tang Baocheng didn’t follow up, he turned and walked away.

Jiang Yibin rubbed his hands and walked to the window, looking at the ginkgo treetops in the yard almost as high as the window, frowning, and after a while, he turned around and said to Shen Huai, “Zhao Moshi went to France a few days ago. Talking about the project, logically speaking, he should have returned to China the day before yesterday…”

run away!

Jiang Yibin made a special trip to tell him about it. Obviously, it wasn’t as simple as Zhao Moshi’s temporary delay abroad for two or three days.

Shen Huai sighed inwardly: Now all parties have confirmed that Pu Cheng has a huge problem, why is Zhao Moshi still unrestricted when going abroad?

Some things do not need him to remind anything, and Shen Huai has no intention of entangled in the details of Zhao Moshi’s escape, and asked Jiang Yibin:

“How serious is Pucheng’s problem?”

“Jianghe Phosphorus Industry and Qianxi Diesel Engine were actually operating at a loss last year~www.readwn.com~ Although Pucheng Electric made a profit last year, it was not as ideal as the annual report announced,” Jiang Yibin clenched his fist resentfully, “All this , Zhao Moshi didn’t mention it at all, and just fooled everyone with the adulterated financial statements. Now he has slipped away, leaving such a big mess, how do we clean it up? ”

Shen Huai didn’t know how real Jiang Yibin’s anger was at this time. He thought that the main problem was that the merger and integration led by Pucheng in the past few years had failed, and the debt crisis faced by Pucheng had no chance of being resolved.

Seeing Jiang Yibin eagerly looking over, Shen Huai did not give him the response he was hoping for, but said lightly: “I noticed that the provincial state-owned assets have several subordinate enterprises, and they also have business dealings with Pucheng. I will check the Huaihai state-owned assets. I don’t know if Director Ding can do something in time to reduce some losses, or try to do it as much as possible. And if a subordinate enterprise is involved in violations of laws and regulations, the internal self-examination of the State-owned Assets Supervision and Administration Office is insufficient in my opinion, and it should be reported to me. The Provincial Commission for Discipline Inspection intervened in the investigation…”

Jiang Yibin couldn’t see the slightest spark of hope from Shen Huai’s indifferent eyes, and knew that Shen Huai couldn’t jump into this mud pit by himself, so he could only sigh secretly and leave Shen Huai’s office haggard.

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