Steel Tycoon Reborn

Guo Chengze asked Feng Zhichu to stop people at the Rosedale Hotel, and asked Shen Huai and Song Hongjun to come and participate in the mobilization meeting of the Donghua group. In the end, he still wanted to confirm that Song Hongjun would attend the next "Hong Kong Huaihai Week" event, and that Shen Huai would be in the next few days. Not too "low key".

Shen Huai and Song Hongjun went to the Evergreen Hotel at night, that is, to show up, chat with everyone, talk nonsense, and stabilize people's hearts.

This time, the activities in Hong Kong were intensive, time was tight, and there was not much opportunity to enjoy the night view of Victoria Bay in Hong Kong; after leaving the Evergreen Hotel, Shen Huai specially invited Zhao Tianming, Wang Weicheng, Guo Quan and the others to the cruise ship to Victoria Bay. Pier, take a yacht out to sea.

Zhou Yu went back to her room to rest first. She had to worry about her image in front of outsiders. How could she accompany Shen Huai and the others to go out to sea late at night.

This time it was indeed Xu Pei, Guo Chengze and others who didn't want the Meigang Department to get too much limelight. Guo Quan only had the opportunity to come to Hong Kong this time as a corporate representative.

To say that everyone thinks of Hong Kong, there is no need for provincial organizations. Most people in the Meigang Department can go with them.

The key is that Shen Huai thought that the trip would be "low-key" before - since Xu Pei was worried that they would steal the limelight, he would simply not try to steal the limelight. Sun Yalin, Sun Qiyi and others did not return to Hong Kong - he didn't expect the situation would suddenly change. Be subtle.

Going out to sea on the yacht, the stars are few, everyone sits on the deck of the yacht drinking, blowing the mild sea breeze in Hong Kong in mid-November, Shen Huai will talk to Song Hongjun, Zhao Tianming, Wang Weicheng, Guo first about these two days. All said.

It was only last night that Shen Huai confirmed that Rongxin and the Baohe Department of the Gu family would be involved in the construction of the Nanwan Lake New District. He also just learned from Guo Chengze's mouth that Vice Premier Zhao Jiahua would come to "support the scene", and he didn't have time to communicate with everyone. The details of Xuan Miao; even Song Hongjun knew about the news that was deliberately released from the periphery, and he still didn't know Shen Huai's specific plan.

"The old man of the Gu family has been in the hospital for three or four years, and he is already a long-term survivor. There are many times when he is unconscious and less when he is awake. The Baohe Department is now almost Gu Zejun in power," Song Hongjun said. , together with Huo, Dong, Li and others, were the first people to invest in the mainland and actively participate in the United Front affairs of the Overseas Chinese Federation, so he served as the vice chairman of the National Committee of the Chinese People's Political Consultative Conference in 1988. However, the children of the Gu family may not all be as sincere as the old man, and the old man of the Gu family is healthy Later, it could not support the management of the company's affairs. The power of the Baohe Department was gradually taken over by Gu Zejun and other Gu family children. The Baohe Department's investment in the mainland became conservative, and it was not so enthusiastic about the United Front Affairs of the Overseas Chinese Federation. However, this financial turmoil It also makes Gu Zejun and others understand that maintaining a family of hundreds of billions is not easy, and it is not surprising that such a change can occur..."

Although the shipbuilding base invested and built by Baohe Shipbuilding in Donghua is an important pole of Donghua’s shipbuilding and marine equipment industry, Baohe Shiplai can only be regarded as a less important branch of the Baohe Department. Knowing the origin of the Gu family is naturally far more familiar than Song Hongjun, who does not live in Hong Kong all the year round.

Song Hongjun also tried his best to explain the details of the entanglement of branches and vines to everyone.

Although the aftermath of the Asian financial turmoil has not completely passed, and although the Hong Kong financial market has also been hit hard by the Asian financial turmoil, it has survived the most difficult predicament and has not collapsed, and has entered a period of recovery.

The Hong Kong financial market can survive the most difficult difficulties and quickly enter the channel of recovery. The deeper economic and political factors behind it, people like Gu Zejun have the most profound experience.

The Baohe Department controlled by the Gu family has nearly ten listed companies, and controls a huge industrial empire with a total market value of nearly 200 billion Hong Kong dollars through complex and intersecting equity relationships. It's just that the foundation of this industrial empire is not absolutely stable. Once there is a big disturbance in the capital market, the entire industrial empire will easily be turbulent.

It's not that the Baohe Department does not want to become more stable, but it is actually related to the inherent nature of the consortium.

Just like the industrial clusters under the Meigang Department, Shen Huai wants to firmly control Meigang under his personal name, it is far from possible for the Meigang Department to have such a rapid rise, and once he wants to continuously absorb external resources Rapid expansion with collaborators, no matter how tight the equity control relationship is, contains unstable factors.

The minds of collaborators always seek advantages and avoid disadvantages, and they are always changing. Once Shen Huai loses his ability and prestige as a leader, collaborators such as Berkeley Bank, Wujia, West Youmings, Feiqi Industry, and even Sun The family's Evergreen Group, including the family, will choose to leave, and it is very possible that they will even cooperate with external competitors who are coveted by Meigang.

It is not easy to maintain a family of hundreds of billions.

If a small and medium-sized enterprise wants to develop, it can only find and explore market opportunities. For a chaebol group with more than 100 billion yuan, it needs a more proactive strategy, rather than waiting for the arrival of market opportunities.

In this world, there has never been a free market, and there must be profound political factors behind the larger and deeper market behavior.

The children of the Gu family may not have understood this truth before, but they have a somewhat dismissive sense of superiority in their hearts. Therefore, the Baohe Department, where Gu Zejun and others gradually gained power, have become conservative in their investment in the mainland in the past ten years, turning to the seemingly freer Southeast Asia. .

Although Baohe Department has survived the Asian financial turmoil, it is not surprising that Gu Zejun and others will have more pragmatic choices in the future as long as they can appreciate the danger and the political transactions behind it.

It's just that the Gu family represented by Gu Zejun chose to be more pragmatic, but Shen Huai and the others had a headache.

As far as the domestic political factions are concerned, the real soul of the Hu clan is Hu Lin's aunt Hu Ying, and then the outgoing former prime minister Hu Zhicheng. Hu Lin's father, Hu Zhiyuan, can only be regarded as a sideline of the Hu clan, and vice premier Zhao Jiahua. It is the core figure who will be admitted to the central team in the next session of the Hu clan, basically now.

On behalf of the Gu family and the Baohe Department, Gu Zejun chose to make friends with the Hu family and vice-premier Zhao Jiahua. With the support of the Hu family and Zhao Jiahua, he cooperated extensively with Cui Weiping and the Rongxin Department and entered Xucheng. Fighting for the dominance of the construction of the Nanwan Lake New Area is not good news for Meishan Iron and Steel.

However, Shen Huai didn't think that he chose to stand by and wait until Cui Weiping, Chen Baoqi, Dai Lesheng and others joined forces with Rongxin and Baohe to prevent Xu Pei from succeeding Zhong Limin as secretary of the Huaihai Provincial Party Committee. After the Hu clan takes power in Huaihai, the Meigang clan will be able to coexist peacefully with them and work together to promote local development.

Even though Xu Pei is an ambitious person who is not very ambitious, and even never forgets to limit the development of Meigang, in promoting the development of Huaihai Bay, Shen Huai will still choose between the Department of Economics and the Department of Economics and the Department of Economics. Department of Economics and limited cooperation with Xu Pei.

"Although Xu Pei has not talked to me directly, it is not too difficult for Xu Pei to establish a provincial state-owned asset management company and gradually promote the placement of provincial state-owned operating assets. Perhaps the most controversial part is the first step. It is just right to put those operating assets in it?”

"Apart from Dongshi Group, Dongjiang Electric Power, Huaihai Electric, Huaihai Financial Investment, Xinyuanye, and Dongjiang Real Estate," Song Hongjun asked, "what other provincial state-owned enterprises can be incorporated into provincial state-owned assets management companies?"

Shen Huai said: "Sun Fujing didn't come to Hong Kong this time, and I didn't have a chance to talk to him; and the establishment of the provincial state-owned asset management company and the internal supervision model are completely copied from the Temasek model, and the province will also There is a lot of controversy, so many things are hard to say now..."

Although the direction of state-owned enterprise restructuring is to realize a modern enterprise management system with separation of government and enterprise, clear property rights, and clear rights and responsibilities, in the process of restructuring, the separation of provincial state-owned enterprises from the original competent departments is not a one-step process.

Taking the expressway group as an example, it is actually still under the jurisdiction of the Department of Transportation. The source of construction funds for the expressway group is mainly the financial appropriation for transportation infrastructure; Let’s talk about the modern enterprise system; the Supply and Marketing Corporation has not been abolished, and it is impossible for the control of Huaishang Group to be completely transferred to the Provincial State-owned Assets Office; and the Chinese Medicine Research and Pharmaceutical Corporation under the Ministry of Health, the Provincial State-owned Assets Office is currently There is no way to completely divest these enterprises and institutions from the competent departments. Therefore, Shen Huai's first step in establishing a provincial state-owned asset management company is to centralize the relatively successful enterprises that have been divested and restructured for unified management.

In addition to Dongshi Group, Dongjiang Electric Power, Huaihai Electric, Huaihai Financial Investment, Xinyuanye, and Dongjiang Real Estate, Shen Huai's most urgent hope is that Huaimei Group can enter the provincial state-owned assets management company system for coordinated development. It will be of great benefit to the development of Huai Electricity East Transmission and Huai Coal East Export in the future.

Shen Huai said to Song Hongjun again:

"The restructuring and reorganization of provincial state-owned enterprises, in addition to technology introduction and cooperation, still requires large capital participation, and in the future, there will be more and more thieves who want to find our loopholes. Hongji, Zhongxin and Changqing In the future, the capital will still mainly participate in the existing industrial development of Meishan Iron and Steel; if possible, I hope that several more industrial investment funds in Hong Kong that are similar to Hongji and Zhongxin, but with a lower degree of connection, can participate in the reshaping of the provincial state-owned assets system. , do you have a suitable recommendation?"

In the past, Meigang developed and developed almost from scratch. Sun Yalin and Song Hongjun were both participants and builders of Meigang's rise, and it was only natural that they would get huge benefits from it.

And what Shen Huai has to do now is to develop a clearer development context for the provincial state-owned operating assets with hundreds of billions of state-owned assets. At this time, the companies under Sun Yalin and Song Hongjun are deeply involved. choose.

Shen Huai currently only advocates that the Meigang Group directly participate in the restructuring of some enterprises with clear asset liquidation and asset appreciation in the process of restructuring.

For example, in the restructuring of Provincial Automobile, the previous audited net assets of Provincial Automobile were less than 600 million. After the split and reorganization of Dongshi Group and Xinyuanye, the value of state-owned equity assets expanded to 1.1 billion, and the profit situation also changed abruptly. And profit from it, others can't make irresponsible remarks.

And some state-owned assets, on the basis of net assets, can even be restructured and restructured after devaluation, and Meigang Department has to avoid it, and can not let the opponent seize the handle of the attack.

The main purpose of Dongjiang Real Estate after its establishment is to concentrate the idle land in the hands of the provincial state-owned enterprises and the replacement land after the relocation of the factory area for development, so as to promote the industrial upgrading of the provincial state-owned enterprises and the transformation of the old city of Xucheng.

During the development of these lands, it is necessary to introduce new partners. However, since these lands have not undergone the market operation of bidding and auctioning, their value assessment is a "quasi black box" operation. In order to avoid the opponents' grasping, Mei Steel can only avoid these cooperations. project.

It's just these cooperation projects, Shen Huai still doesn't want to passively find partners and attract investment, then promoting the establishment of a new industrial investment fund that is not directly related to Song Hongjun, Sun Yalin and others and the Evergreen Group will allow Shen Huai to generalize Greater initiative is in hand.

"Does it count as newly established, or does it count as one that has not yet been established?" Song Hongjun asked.

"A few of your younger brothers want to come out and form a partnership company?" Shen Huai asked with a smile.

"This is the way the financial world in Hong Kong is. No one is willing to be a younger brother for the rest of their lives, but it's not right to force them to stand out," Song Hongjun sighed in a relaxed tone, "Hongji has several management teams, all of whom are qualified and savvy. Yes, I also accumulate some resources and want to fly solo; if I can help them at this time, it can be regarded as a kind of love."

Industrial investment-based private equity investment fund companies, in the final analysis, do not use their own capital for investment and development, but gather the capital and strength of other small and medium investors and investment institutions for industrial investment, and it is difficult to expand the scale indefinitely.

The industrial investment fund under Hung Kai has developed a scale of US$2 billion and is already a leader in the industry; if the scale continues to expand, the investment efficiency and return rate may drop sharply, while the complexity and risk of management will greatly increase. , the attractiveness to investors will also decrease.

At the same time, as a non-public fund, the scope of raising capital is limited. Once the attractiveness to investors within a certain range decreases, the fund’s capital scale will be further expanded, and the difficulty will naturally double; It has become inevitable.

Rather than suppressing the ambitions and ambitions of its managers to fly solo, it is better to provide resources and help these people to set up new independent investment funds, which is more conducive to promoting the expansion of Hongji's influence - on the surface, the Meigang Department also follows They put aside the direct economic connection, but these investment funds can still be counted as the periphery of the Meigang system.

Shen Huai knew that those people Song Hongjun wanted to provide resources to help must also be what he valued. Those who branched and scattered leaves would be beneficial to expand the influence of Hongji and the Meigang Department, nodded and said, "This time I will be there After staying in Hong Kong for seven days, I also have time to meet more people. As long as the investment funds they set up can determine the main investment direction in Huaihai Bay, the provincial state-owned assets can even participate in the name of Huaihai Financial Investment as the sponsor..."

The mainland has not opened its mouth to private equity funds, and the Huaihai Bay government construction fund is only a specific sponsor of the provincial, municipal and county governments, but there is no way to expand the scope of capital raising in the mainland. However, in Hong Kong's capital market, private equity funds are relatively mature.

Shen Huai plans to directly participate in the provincial state-owned assets, and also intends to use Huaihai Financial Investment and other provincial state-owned enterprises as one of the initiators to invest in the establishment of partners or joint venture private fund management companies with Hong Kong companies and investors. However, raising more funds in Hong Kong Large-scale industrial capital, and then return to Huaihai Bay to participate in various industrial investments.

In the final analysis, Shen Huai still wants to use less capital investment as an introduction, in the form of capital leverage, to leverage or attract more industrial capital to participate in the local development and construction of Huaihai - compared with direct investment, this is This approach is more proactive and can better promote the development of state-owned or private enterprises in Huaihai.

The cooperation between Gu Jiabao and Rongxin to strive for the dominance of the construction of the Nanwan Lake New Area is only their first step. The total market value of listed companies controlled by Baohe in Hong Kong is nearly 200 billion, and the capital that can be leveraged is far more than 10 billion. I don't want to call them to steal the limelight~www.wuxiaspot.com~Mei Steel and the provincial state-owned capital still have a lot to do.

"Yu Wei wants to stick her shirt on you, why are you ignoring others?" Song Hongjun asked Shen Huai again.

Song Hongjun's words were not too ambiguous, but Zhao Tianming, Wang Weicheng, and Guo Quan couldn't help but laugh.

Shen Huai shook his head and sighed, then said helplessly, "The old man of the Gu family is still alive, and Yu Wei wants to use us to get rid of the Gu family's control. How can it be so easy? I can't bear her enthusiasm..."

The Gu family holds a total of about 25% of the equity in Baohe Shipping Industry. Except for the old man of the Gu family, who directly transferred 15% of the equity in the name of the youngest son born to Yu Wei when he was sober, Baohe is the top holding institution- It is also an existence of a similar nature to the Sun Family Fund - Baohe Trust also holds a 10% stake in Baohe Shipbuilding.

As the guardian of her son, Yu Wei controls Baohe Shipbuilding with a 15% stake, and her position is far from stable.

At present, one is that the old man of the Gu family has not let go, and the other is that the performance of Baohe Shipping Industry is relatively stable, so Yu Wei's position in Baohe Shipping Industry is relatively stable.

Once the old man of the Gu family leaves, it is not difficult for Gu Zejun, the head of the Gu family who controls Baohe Trust, to join other shareholders to expel Yu Wei from the board of directors of Baohe Shipping Industry.

Yu Wei has no ability to change the structure of other shareholders except to hold 15% of the equity of Baohe Shipbuilding on behalf of her son. If she wants to completely get rid of the control of the Gu family and independently control Baohe Shipbuilding, she must fundamentally Change the existing shareholder structure of Baohe Shipbuilding to ensure that the equity held by the shareholders who ultimately support her plus the equity held by her on behalf of her son exceeds 50%.

Of course, it's not that there is no way to achieve this goal, it's just that Shen Huai is also uneasy about this woman and has no intention of getting too close to her.