Chapter 588 - Tens of Billions vs. Board of Direct
One hour later. Net conference room. As the first meeting of o7, the meeting started, the first thing to report was naturally the achievements. Liu Hongmei had a thick stack of documents prepared in front of her, and as soon as the meeting started, Li Dong said, "Director Liu will first report to everyone on the results achieved in o6." Liu Hongmei nodded and got up and said, "While reporting the achievements in o6, let me first tell you about the situation in Yuanfang at the end of o5." "As of the 31st of the month, there were 7o stores under Yuanfang at that time, as well as a piece of land for the Yuanfang Building and a piece of land for the distribution center. In addition to these, Yuanfang had almost no liquidity at that time, and liabilities of up to 300 million." Liu Hongmei paused for a moment to say this, these situations are naturally clear to the old employees. But Yuan Chengdao, Wu Shengnan, these new this year's senior staff although some understanding before, but understanding is not so clear. When Liu Hongmei said this, many people's eyes show a touch of shock. At this time last year, there were actually only 7o stores and two small plots of land under Yuanfang? Not waiting for them to digest this news, Liu Hongmei continued: "At that time, the outside world valued Yuanfang at about one billion, in fact, excluding the Baidu shares in the hands of Mr. Li, Yuanfang's market value is only about five or six hundred million." "Five hundred and sixty million!" This time many of the new directors were shocked, especially the general manager of Hakko was even more emotional. Does this not mean that at this time last year, Yuanfang might not be as big as Hakkaslong? But this is only one year, what is Yuanfang now, it is the first private enterprise in Jiangbei that is about to cross, or has crossed Longhua Group. This is only one year, the span is also too big, right. The expressions of emotion, shock and disbelief should not appear on the faces of the senior management of Yuanfang, but everyone is really surprised, not pretending. Even many old employees of Yuanfang felt a little unbelievable, not to mention those new employees who joined the company not long ago. After talking about the situation in 2oo5, Liu Hongmei next began to talk about 2oo6. "As of yesterday, that is, the 31st of the month, there are four subsidiaries and five provincial branches under Yuanfang. The five provincial branches, all of which are under Yuanfang City, are Yuanfang-Era, Yuanfang-Kelong, Yuanfang-Jiangsu-Zhejiang Branch, Yuanfang-Gan Province Branch, and Yuanfang-Lu Province Branch. …… This year, Yuanfang's sales reached a whopping twenty billion! Among them, Yuanfang City's turnover reached 16 billion, Dongyu Real Estate's sales reached 3.8 billion, and Yuanfang Mall's sales were 200 million. Because the logistics company has been building, as well as with the mall services, not much performance this year, temporarily not included in the statistics. As for the profit, the city although the turnover is high, however, because of various reasons, as well as the late era is not much profit, o6 city total profit of 1.4 billion. Dongyu real estate, because there are still some houses have not been sold, if you take away the preliminary expenses then the profit is not too high ……" Liu Hongmei said a long time, in the middle also reported a large number of financial data. Li Dong these people listened carefully, some people also took notes. After about half an hour, Li Dong saw that Liu Hongmei had almost said, so he said: "Director Liu, do a summary. How much is the expenditure this year, how much is the income, and how high is the value of Yuanfang now, how high is the debt, all these are stated so that everyone has a number in mind." Because Yuanfang is only a private enterprise, and the shareholder is only Li Dong, what Li Dong said, Liu Hongmei will naturally do. After Li Dong finished, Liu Hongmei began to summarize. "This year, in terms of revenue …… expenses …… up to now, Yuanfang City, including five branches of Hakkasu, Times, Jiangsu and Zhejiang, the total market value is about 700o billion. Dongyu real estate, if you do not include Greenland, the total market value is about 300o billion. Now after the acquisition of Greenland, Greenland and Dongyu merge, producing additional effects, Dongyu real estate revaluation, then about 600 million. Logistics company, this year, three hundred and twenty new courier points, as well as the Jiangzhe distribution center, valued at about 800 million. Faraway Mall, because the number of registrants exceeded ten million, plus the opening of a national channel, a conservative estimate, the valuation can reach 100 million." Li Dong calculated: "That is to say that the current industry of the Far Side together, the value of about 1.5o billion?" "About the same, even if there is some gap between the top and bottom, it should not be big. But some brand value, because for the time being there is no clear estimate, this point I did not count in it." Li Dong nodded and said, "This is not counted first, what about our current debt?" "The Times side is still 700 million short of the purchase price and 400 million in bank loans, a total of 1.1 billion. On the far side of the city, we still owe 800 million in loans. Dong Yu Real Estate side has the most, before you turned around a 200o million land payment, as well as the $950 million subdivision acquisition payment on the Longhua side, plus the acquisition of Greenland now, we still have to bear their 800 million loan and 200 million engineering payment, statistically, the total almost reached 400 million. Adding several items together, our liabilities have reached a total of 600o billion." "6o billion!" Many people were shocked, not because they owed too much money, but because Yuanfang's value increased too quickly this year! The market value of 1.5 billion Yuanfang, liabilities of 600 million, that is, the net assets reached 900 million, compared to last year's 500 million to 600 million, a year more than ten times, this is too exaggerated. Everyone is surprised, but not too surprised. Although the city side of the profit this year only a dozen billion, but the added value is a lot bigger. After the acquisition of the times, the city, the total value of the city of Far Eastern reached 7o billion, and Far Eastern this year in the city above the investment is actually not too big, at most in the 400 million or so. The city alone, a year down to an additional 3o billion in added value. In addition the mall and logistics company, at least also rose 1o billion, plus Shen Xi's 1o billion, these items will have 500o billion. And the big profit this year is on top of the real estate, including Li Dong before the new city to take land, as well as the late opening of two neighborhoods, as well as the merger and acquisition of Greenland, have earned a lot. These added together, this year's net assets of the far side to reach 9o billion seems not so strange. "9o billion ……" Li Dong muttered, excluding Shen Xi's 1o billion, that is to say, Yuanfang's actual net assets are now only about 800 million. This doesn't seem too high, right? Compared to those large conglomerates that can easily reach 100 billion, there is still a big gap between Yuanfang and them, so there is still a long way to go. But to really count, Li Dong's personal assets can almost exceed ten billion. After all, he still has more than a billion dollars in the stock market, as well as mortgage to Shen Xi's mother's Baidu shares, valued at 200 million is not false. Although Sun Tao occupies part of the shares in the city, but after Li Dong capital increase, Sun Tao in the next few years can not get dividends, and the shares are not much, almost negligible. Ten billionaire, now Li Dong is always true to his name. After walking for a while, Li Dong asked again: "This time after the acquisition of Greenland, Far East's liquidity is almost depleted by me. Director Liu, please calculate for me again, within the next three months, how much more money do I have to come up with to fill this hole?" Liu Hongmei had expected this character of Li Dong, who had to spend all his money. As soon as he said, Liu Hongmei said: "Within the next three months, we have to pay all the loans and land payments on the side of Dongyu Real Estate, that is to say, Dongyu's 400 million all to be paid off. As for the rest, the city side of the loan repayment is not too much, the city's profits are enough to support. And the city's profits, but also to meet the three provinces of the development plan, to fill the 500 million in the city before you, Mr. Lee, to draw funds. In addition is the mall, the mall has now part of the profit, if not for large-scale expansion, self-sufficiency or can. Logistics side because it has to meet the needs of the mall, so have to invest part, but the next three months then the remaining money is enough to use." "In that case, the gap is the 400o million of Dongyu real estate?" "Well." "I sound how strange twisted." Li Dong was a bit speechless, "I didn't react before, now say this, if I pay off this money, then wouldn't that mean that Dongyu Real Estate doesn't have a single penny of debt?"