Chapter 394: Only My Unique Method Chapter 394 Rhythm (2)

·

·

·

Protagonist:

Chen Yi

Zhu Guangliang reported the news upward in the form of a briefing. Slightly earlier than he had anticipated, the matter was reported at the municipal government meeting on the third day.

Cang Xiang took away 76 million US dollars — precisely the partial insurance payout after the shipyard fire, plus the company's funds for new procurement. Liu Tai was an accomplice; incidentally, he also made off with over 4 million RMB from the insurance vault, as well as a payable item of over 1 million. At the 8.4 exchange rate, Jiangnan Shipyard instantly lost 650 million yuan in cash.

The moment the municipal government meeting ended, the news spread like wildfire. Although it only circulated within government circles, Chen Yi didn't need to ask — people naturally reported it up to him.

Needless to say, all the major banks, all the shipyard's suppliers, and creditors would learn of it at the same time.

In an instant, Jiangnan Shipyard became the focus of attention for Jiangning people, especially the office building packed tight as a drum, which several times became the focal point of TV reports.

Fang Zhong gloated: "Before, the shipyard paid for materials once a year. Now they pull out a check, and the other side still has to worry whether you have money in your account."

"Has the shipyard received any quotations?"

"Not yet. But judging by the current situation, if they want to restore normal operations at the shipyard, they'll need to inject at least three times the money." Fang Zhong had done investment work for over a decade and knew quite a few people in Jiangning. For a state-owned enterprise like Jiangnan Shipyard, saying it leaks from all sides is a bit excessive; saying it's a sieve is letting them off easy.

If a female leader of a state-owned enterprise forgot to bring sanitary pads to work, she only needed to say at the morning meeting, "Let's buy some sanitary pads as gifts," and by lunchtime, the restroom would have at least five brands of sanitary pads piled up, and every variety — leak-proof, seepage-proof, you name it.

"Three times means 2 billion yuan?"

"Yes."

"A bit expensive." Chen Yi actually didn't want the shipyard.

It's the 21st century now. Although shipbuilding still has profit, it is ultimately a declining industry. Historically, the British built ships, the Americans built ships, the Japanese built ships. Now high-priced ships are mainly built by Koreans, while the Chinese are just joining the fun. Regardless of whether the shipbuilding industry shifts to China in the future, it will ultimately no longer be an important industry. Even if one insists on linking it to war and national defense — despite the probability of future war being so low — the importance of the aircraft industry far exceeds that of shipbuilding.

Of course, the West Continent currently has a great need for vessels. But what they need are river ships; a thousand-ton vessel is already an astonishingly large ship. Why would they need to acquire a shipyard for that?

Fang Zhong didn't understand Chen Yi's thinking mode and said quietly: "The more debt the shipyard has, the higher our chance of getting equity. That's a good thing."

"Count it as such. Let's treat 2 billion as the limit. It'd be bad to speculate on stocks and end up a shareholder." Chen Yi finished speaking, thought for a moment, and said: "You prepare the materials now. We're going to see someone."

"Yes."

When they met the person, Fang Zhong realized Chen Yi had actually brought him to see Fang Zhennan, the Deputy Mayor of Jiangning City, and also the superior leader in charge of the State-owned Assets Supervision and Administration Commission. This filled him with endless emotion. Whatever he wants to do, there are people to help. If Chen Yi wants to do business, it would be strange if he didn't get rich.

Fang Zhong reported to Fang Zhennan in a proper and orderly manner the situation they knew, focusing on their preparation to inject capital into Jiangnan Shipyard.

Enough of that. Chen Yi then said with a smile: "We don't do anything against discipline. But if another company injects capital, or if Jiangnan Shipyard makes corresponding demands, then we want to be that... what do you call it... the subscribing or bidding party."

"No problem." Fang Zhennan laughed heartily and agreeably.

Chen Yi then smiled again: "We need an advantage."

This time Fang Zhennan only nodded, but didn't speak.

Until they left the Deputy Mayor's office, Fang Zhong was still marveling.

He was also someone who frequently dealt with government agencies. Never mind a Deputy Mayor — even a section chief in the municipal government might not show you a good face. When had there ever been such a congenial conversation?

This emotion naturally carried over into his work. He demanded more strictly from his subordinates than before, quibbled over details he previously didn't care about, and used his connections and contacts more closely.

One could say the favors and debts from Fang Zhong's previous investments would be used up almost entirely this time. But this was also another investment of his, equivalent to cashing out to buy "Chen Yi stock."

With work more meticulous, he naturally discovered many details previously unnoticed. That very night, a trusted aide working overtime came to the office to report: "Qiao Shan approved quite a few slips, mainly for the steel plant's payments. All were not yet due."

"How much?" Fang Zhong immediately snatched the report. Among the various materials the shipyard used, steel was undoubtedly the largest expenditure, and would absolutely not be produced by them. However, the steel plant was also a big name among big names — in other words, slow to react. Small private enterprises would chase debts; the steel plant might not. If Qiao Shan was willing to drag it out, he wouldn't approve many at all.

His subordinate hadn't thought that much, only saying: "Jiangnan Steel Plant's is a bit more, roughly 20 million. The others aren't clear."

"The funds might be hard to trace. Check the enterprises — see which ones had payments made early. I'll wait here."

The subordinate hurried off to contact people.

About 30 minutes later, Fang Zhong got the list — three enterprises in total, quite straightforward.

He didn't idle either. He immediately called Chen Yi and said: "Qiao Shan is clearly trying to rush-spend money. These state-owned enterprises probably just made a couple of casual calls. As long as Qiao Shan shows willingness to pay, who would let idle money burn a hole in their pocket?"

"How much can be spent this way?"

"He signed over 30 million in orders today — that's over 30 million in cash. Tomorrow will likely be even more."

Chen Yi immediately realized: if Jiangnan Shipyard paid all not-yet-due payments to those large state-owned enterprises, the small enterprises would likely panic even more. This was artificially creating a run.

No large enterprise can withstand a run, and Jiangnan Shipyard, already in financing difficulty, even more so.

"With an insider like this, their debt-to-equity swap really is easy to apply for. Count them lucky. I've also helped them clear quite a few obstacles." Ordinary bonds cannot be converted into stocks. Debt-to-equity swap is a relatively preferential creditor's right, with a relatively higher market price and relatively lower interest. For state-owned enterprises, it's even more not something that can be issued just because they want to.

Usually, a state-owned enterprise must first prove they've tried every other method before they can apply for financing that changes the equity structure.

Although it's unknown which official Mitsubishi toppled, if Fang Zhennan approves and agrees, their application will be easier to pass.

Over the next few days, everyone watched Jiangnan Shipyard. Mitsubishi waited for it to go bad. Qiao Shan desperately made it go bad. The municipal government buzzed with rumors. Suppliers scrambled to collect debts. Even Chen Yi watched to see when it would collapse.

Ming An Tu didn't know who pried open the safe. Mitsubishi didn't know who wanted Jiangnan Shipyard. Chen Yi had the banknotes ready, waiting for the curtain to rise.

Everyone was happy, except the Jiangnan Shipyard workers and those small-company creditors.

China's laws essentially protect the interests of the state and state-owned enterprises — that is, the so-called interests of all the people of the country. As for specific individual or groups of people, they naturally must follow the principle of "the minority obeys the majority," following the interests of the state's representatives and the state-owned enterprises' representatives.

However, such a large enterprise, even if it wants to commit suicide, takes a period of time. Qiao Shan took about three days to finish distributing the cash. During this period, the municipal government kept shouting about supervision, but no one actually acted.

Especially rare was that Secretary Qiao Shan didn't take a single cent in the process, like a Warrior of principle with a vajra body.

Weekend. Fang Zhennan called Chen Yi: "The shipyard can't hold on anymore."

"Who's responsible for the debt restructuring?"

Fang Zhennan asked in surprise: "How do you know it needs debt restructuring?"

"Besides restructuring, what else can they do?" Chen Yi sneered. What he did was similar to Mitsubishi — not much money spent, but lots of connections used. Given the Japanese's deep-pocketed nature, they probably invested tens of millions in costs this time.

If not through debt restructuring, any other form of capital injection would have to wait for a second round of skinning. Iwasaki Masayoshi probably couldn't take that either.

"Mayor He Fuhan is personally presiding."

"Understood."

Chen Yi ended the call, strode off, went to the municipal government, and found the Mayor's office.

He Fuhan's secretary stopped him, but politely asked, "May I ask who you are looking for?"

"Chen Yi, I've come to participate in the Jiangnan Shipyard debt restructuring tender."

"Jiangnan Shipyard has no debt restructuring tender." The secretary paused here, he had obviously realized who Chen Yi was.

"If there is no restructuring tender, then who will complete the restructuring?" Chen Yi was in no rush to enter; he could also obtain not a little information from the secretary's mouth. Compared to He Fuhan, the secretary was instead a bit easier to deal with, because he dared not offend Chen Yi.

The secretary stared hesitantly at Chen Yi's box, seemingly somewhat confused by his age, and said in a low voice: "The restructuring is of course presided over by the Municipal Government."

Chen Yi laughed heartily, saying: "Does the Municipal Government have several billion in cash? When did Jiangning become this rich? Tell the truth, who is paying the shipyard restructuring money."

"I cannot say."

"That's why I came to find Mayor He first." Chen Yi extended a finger and tapped the sign on the door.

Looking at Chen Yi, who was more than ten years younger than himself, Secretary Comrade answered quite helplessly: "I'll go in and ask, but Mayor He is very busy right now."

He was preparing an excuse to refuse.

Chen Yi nodded vigorously.

The secretary walked inside quite worriedly; Chen Yi picked up his box and followed right behind.

His combat power was greatly manifested at this moment; the two people were separated by several meters, yet the secretary actually failed to discover him.

"Mayor He, Chen Yi is outside, wanting to ask about the shipyard debt restructuring matter. He seems to want to participate..."

"Chen Yi?" He Fuhan wore formal wear, his appearance sitting alone also seemed like he was presiding over a major meeting.

Chen Yi suddenly emerged from behind the secretary's back, smiling: "Mayor He, it's me."

He Fuhan seriously and carefully, like a jackal eyeing a wolf, said: "So you are Chen Yi."

"It's me." Chen Yi placed the black briefcase on the table.

"This is?"

"My sincerity prepared for the shipyard restructuring." Chen Yi smiled faintly.

He Fuhan took the opportunity to darken his face, coldly saying: "I don't accept bribes."

"To tell the truth, I didn't see that you'd dare accept this much." Chen Yi smiled like a wolf who had caught a jackal; he opened the briefcase and turned its front toward He Fuhan, saying: "This is the guarantee deposit I prepared for the restructuring tender, 50 million US dollars in bearer treasury bonds, same as cash."

He Fuhan's complexion changed slightly; his secretary then curiously moved forward two steps.

50 million US dollars in treasury bonds, just hearing it makes one have the desire to rob. (Unfinished. If you like this work, welcome to Qidian (qidian. com) to cast recommendation tickets, monthly tickets; your support is my greatest motivation.)