My 1999

At that time, Xingtehao was an electric giant with a total revenue of 239 million Chinese yuan.

It was bigger than Shenyang Alloy.

Once the two companies merged their financial statements, Shenyang Alloy's financial statements took off directly.

However, Xingtehao alone obviously could not satisfy Lao Tang's appetite.

I want more.

Delong, which started the printing press, held high the banner of industry integration. After finding the company it liked, it first threw out an industry integration development report and then a check.

Although it was simple and crude, it was undoubtedly more impressive to local officials than those local tyrants who only knew how to spend money.

One by one, the beauties, no, companies, walked into Lao Tang's arms.

In 1999, Xingtehao acquired "Suzhou Taihu", which produces power tools, vacuum cleaners, micro motors, hair dryers and other businesses, with zero investment on the condition of relocating all employees.

In the same year, it invested 32.1 million to acquire Suzhou Black Cat Group, which produces high-pressure water guns.

In the same year, it invested 36.33 million to acquire the Magic City Meihao Company, which produces cleaning equipment.

In the same year, it established a joint venture with CITIC Electromechanical to form Shanxi Province Zhonghao Garden Machinery Company, and Shenyang Alloy invested 11.6 million, accounting for 55% of the shares.

In the same year, it invested 5 million with Weiyang Diesel Engine Factory and Xingtehao Xiangjiang to establish Shaanxi Province Xingbao Motor, which mainly produces 2~16 horsepower gasoline engines.

In the same year, it cooperated with the Shape Memory Materials Research Center of Jinmen University to establish Magic City Tianhe Shape Memory Materials Co., Ltd.

In other words, in just one year, Delong used Shenyang Alloy as a platform to acquire three companies and jointly established three companies.

This speed is so fast that it makes people feel hairy.

When Huaxia Wine Industry integrated the beer industry, the speed of mergers and acquisitions was not so fast.

Moreover, in the beer industry, everyone is making beer, and the experience is basically universal.

But the electromechanical industry is different.

Power tools, diesel engines, micro motors, vacuum cleaners, machine tool accessories, high-pressure water guns, garden machinery, etc., basically every product has different production processes, market conditions and after-sales.

Five or six companies came in at once, and it would take at least one or two years to effectively integrate them.

These one or two years are based on the leadership of excellent business managers and financial support.

Unfortunately, as the big boss of Delong, Old Tang was too proud.

In the context of Delong's financial situation, which could not support his huge ambitions.

He urgently needed the share price of Shenyang Alloy to rise, so that he could buy low and sell high, guarantee loans and other financial operations to make money from the market.

Therefore, the more he looked at these money-losing projects under Shenyang Alloy, the more unhappy he was.

Integration?

Six in total!

Just sell them and replace them with new ones.

Therefore, in 2000, Magic City Tianhe Shape Memory Materials Co., Ltd. was sold.

In 2002, Shenyang Alloy's nickel alloy materials business, which had been developed for half a century, was sold.

In the same year, Jin Province Zhonghao Garden Machinery Co., Ltd. was sold.

Also in 2002, the third largest garden machinery manufacturer in the United States, Maury, was acquired.

The acquisition of Maury was a rare wise move.

With the help of the other party's channels and technology, Alloy Shares can actively develop its own garden machinery industry.

But the next step of Lao Tang was very puzzling.

In 2002, with nearly 100 million yuan, he got 75% of the shares of Jinling Second Machine Tool Factory.

The machine tool industry is not completely unrelated to the power tools and garden machinery industries. There is still a close relationship between them.

Xu Liang looked it up several times.

He almost guessed why Lao Tang was interested in the Second Machine Tool.

No other reason.

This is indeed a good company.

The CNC gear hobbing machines, gear shaping machines, gear shaving machines, chamfering machines and other products produced by the Second Machine Tool have reached the contemporary international advanced level in terms of technical indicators and technical performance. The domestic market share of these products once reached more than 70%.

Therefore, it has strong competitiveness and profitability.

By the end of 2003, the total assets of the Second Machine Tool had reached 263 million yuan, the net assets were 130 million yuan, and the profit was 15.96 million yuan.

As long as the Second Machine Tool was merged into the financial report of Alloy Shares, it would be a huge benefit, and the market value of Alloy Shares would definitely take off.

Probably because they tasted the sweetness of the acquisition of the Second Machine Tool.

Old Tang completely abandoned the corporate development strategy of "industry integration" and started financial speculation.

Such a choice is in line with human nature.

Industry integration requires repeated research, huge human, material, financial and time resources, and only then can it succeed.

And there is a great possibility of failure.

Why bother.

It's very tiring.

Financial speculation is very fast and the effect is significant.

Why integrate?

Under the guidance of such a strategy.

If a company is losing money, just sell it directly?

Then use Delong's reputation and industry influence to buy those companies with good development.

Anyway, the leeks don't understand the fundamentals.

As long as Delong's revenue and profits are rising, it's enough.

This also makes it easier for Delong to raise money from the stock market and make up for the growing funding gap.

Why not do it?

Therefore, Alloy Shares soon began the third wave of adjustments.

In February 2003, 55% of Xingbao Electromechanical's equity was sold to Shaanxi Anlin Environmental Protection Equipment Company.

In June 2003, Black Cat Group was sold to Magic City Wanpu Precision Equipment Company.

So far, in addition to the Modu Meihao Company that produces cleaning equipment and Suzhou Taihu, the six companies acquired during the first wave of alloy shares' expansion and the original nickel alloy business have all been laid off.

Other people's integration is to eliminate the unnecessary and retain the essential, and be careful; Delong's integration is simply to cut out the bones and remove the flesh.

However, during the third integration, probably no high-quality target similar to the ‘second machine tool’ was found.

Therefore, Alloy Shares took advantage of the benefits of acquiring Mao Rui and publicly announced in the media that it would invest US$180 million to purchase 180,000 square meters of industrial land in Suzhou Industrial Park to build a new factory.

After the project is completed, it will have an annual production capacity of 1.8 million units of various garden machinery and more than 10 million units of electric tool products.

It is expected to achieve annual sales revenue of 3 to 4 billion yuan and create US$400 million in foreign exchange annually.

Ziliu.

Very pure Delong flavored cow dung, cough, cowhide.

It is the same as investing 10 billion in five years to build a agricultural supermarket, 2.5 billion to build Delong livestock, and 3.5 billion to build a tourism group.

Satellites were released one by one, causing business people across the country to fall off their feet.

But although the leeks are a little stupid, they are not stupid either.

If you put a satellite in it, we might still believe it.

You launch satellites one after another, often investing billions or tens of billions.

Even if my family opens a bank, I wouldn’t dare to be so wealthy!

Therefore, the leeks tightened their wallets. The stock prices of Delong's old three shares and new three shares could not rise, and they were unable to continue to be the market leader. The financial crisis became more and more serious.

If it weren't for selling a large amount of assets to Xu Liang in 2004 and recovering a lot of money, Delong wouldn't be able to survive in 2005.

It can be seen from this series of developments that Alloy shares have experienced bumpy development along the way.

The main business changed several times, from nickel alloy materials to power tools, and from power tools to garden equipment.

Few or no large industrial groups have continuously changed their main businesses in such a short period of time.

If nothing else, just management chaos can kill it.

However, after nearly ten years of development in the hands of Delong, the alloy shares are not without any shining points.

"Do you have Peng Shengyu's detailed information?"

Xu Liang asked.

"have."

Lu Hui quickly handed over the information she had prepared before.

Xu Liang took it and looked at it carefully.

"This guy is quite capable."

Xu Liang praised.

The two CEOs of Alloy Co., Ltd., Pan Yaping and Sun Gang, managed the company in a complete mess and only lost money.

Lao Tang was forced to use financial speculation to build a company.

But after Peng Shengyu took over the responsibility of Alloy Shares, Alloy Shares became different.

Cooperating with the headquarters to actively sell non-performing assets, the main operating income of Alloy Co., Ltd. increased by 281 million, and the net profit rebounded significantly, reaching 71.13 million.

An increase of 32.09 million from the previous year, almost doubling.

The net profit of the entire alloy stock rebounded to 6.29%, inventory fell by 21.39%, and accounts receivable increased by 4.7%.

In 2003, Xingtehao, whose net profit had been declining year after year, gained a net profit of 23.91 million yuan, halting the downward trend.

Suzhou Taihu, which had been losing money, turned a profit and rose for two consecutive years in 2003 and 2004.

In 2004, it even achieved a net profit of 39.09 million Chinese coins.

Suzhou Meirui actively cooperated with the American Meirui Company and achieved a net profit of 57.4 million yuan.

Jinling II Machine Tool also achieved a net profit of 16 million yuan.

In Peng Shengyu's hands, Alloy shares, which had been losing money continuously, turned losses into profits in all businesses.

If there is only one business like this, it can be said to be luck.

But all businesses started to grow, and some businesses that were losing money also saw significant growth.

It's just ability.

Unlike Delong veterans like Sun Gang and Pan Yaping, Peng Shengyu has a PhD in mechanical engineering from Zhejiang University. After graduation, he joined Xingtehao as the technical director. Later, with the acquisition of Delong, he became a senior executive of Delong.

As a non-Xinjiang province and a veteran of the Feida Garden Conference.

Although Peng Shengyu's promotion within Delong was not a bumpy one, he still lost money when Pan Yaping and Sun Gang turned the alloy shares into six of its seven branches.

It was a complete mess, and when the elders were unwilling to take over, he, a man with a science degree, was able to step in and take over the power of Alloy Shares.

Throughout 2004, under his leadership, Alloy Holdings achieved a total revenue of 1.45 billion Chinese dollars and a net profit of 156 million Chinese dollars.

Net profit margin exceeded 10%.

This is the highest net profit margin since the establishment of Alloy Co., Ltd.

Dong Dong…….

Xu Liang held the information in his hand and tapped his fingers on the table unconsciously, lost in thought.

Seeing him like this, Lu Hui also subconsciously relaxed her breathing.

After a long time.

"Lv Hui, the financial statements of Maorui Company were not merged with Alloy Co., Ltd.?"

"Delong has spent US$162 million to acquire all the equity of Maorui Company through Xiangjiang Company. However, this acquisition is currently waiting for approval from above, so it has not yet been merged into Alloy Shares' financial report." Lu Huidao.

"Do you have any information about Maori Company?"

"some."

You flipped through the Delong tuning information that Lu Hui handed him before.

"This is."

Xu Liang took it and read it.