My Age of Investment

Chapter 759 White Goods

"We have had several rounds of contact with relevant departments in Guangdong Province, and their attitude is rather ambiguous."

Li Ying puffed up her cheeks and let out a long breath, "I guess, they must want us to bid with Hisense, Changhong, Midea, Dongling Kaiqin and other home appliance companies to see who can offer better conditions.

Several other companies are not a cause for concern, but I heard that the relevant departments of Hisense’s controlling party, Daocheng, have been working secretly, actively communicating with relevant departments in Guangdong Province, and offered relatively favorable conditions. They are willing to sign a contract with Kelon Electric Short-term sales agency agreement.

While collecting a certain sales agency commission, it will create blood for Kelon. "

Kelon Electric was originally a state-owned electrical appliance factory established in 1984. In 1996 and 1999, the company's shares were listed in Hong Kong and Pengcheng respectively.

On October 31, 2001, Greencool acquired a 20.6% stake in Kelon Electric for 560 million yuan, becoming the largest shareholder of this leading domestic refrigeration appliance company.

The actual controller of Greencool is Gu Chujun, who was a tycoon in the capital market a few years ago and acquired several listed companies.

The year before last, Professor Lang questioned Gu Chujun's M\u0026A behavior, saying that Gu Chujun misappropriated a large amount of Kelon Electric's cash flow to complete various acquisitions, and a huge "Lang-Gu Controversy" began.

Last year, Gu Chujun was picked out by Professor Lang. This capital tycoon was formally arrested by the police on suspicion of false capital contributions, false financial statements, misappropriation of assets, and occupational embezzlement.

As a member of the Greencool family, Kelon Electric's equity was frozen, and creditors, banks, and the local government are organizing the aftermath.

The debt involved needs to be resolved, and the 20,000 employees of Kelon Electric need to be properly settled, so the best way is to introduce a buyer to buy the equity of Kelon Electric held by Greencool and replace it with a major shareholder.

From last year to this year, the local government has been widely distributing hero stickers, and the top electrical companies all over the country are determined to win Kelon.

However, the amount of bid was huge, and the matter was rather cumbersome. After more than a year of delay, the deal of Kelon Electric Appliances has not been finalized yet.

Xia Jingxing nodded, "Hisense is an established company, and its advantages in distribution channels are stronger than ours."

"Yes, and they are both state-owned assets. Negotiations on certain matters are far smoother than ours."

Speaking of this, Li Ying complained a little in her heart, "It would be fine if everything was discussed on the table, but if there is a bid, it would be fine if all parties directly weigh their swords.

But how did they do it?

Negotiate with Changhong's quotation for half a month, and then tell Hisense that your quotation is low.

After getting the latest quotation from Hisense, I went to tell Midea that your quotation was too low...

Going in such a big circle,

More than half a year has passed, and the quotation has increased several times, but the transaction has not yet been finalized.

To be honest, if I hadn’t taken a fancy to Kelon air conditioners and Rongsheng refrigerators, two white goods brands, I would definitely not want to spend so much with them. "

Seeing Li Ying's angry look, Xia Jingxing laughed out loud.

Li Ying went to the United States in her teens. She joined UTStarcom a few years ago and returned to China. She still doesn't have a deep understanding of domestic society.

When dealing with state-owned enterprises, you must be patient.

"Don't be too angry. If you can delay the deal of Kelon Electric until now, it is considered a success."

Xia Jingxing looked at Li Ying with a smile. The task he assigned to Li Ying a few months ago was to look for brands of white appliances. To put it simply, it was to look for brands of refrigerators, washing machines, and air conditioners to sell in the market.

Boss Xia is very clear about how Midea got its start. It relies on patchwork. Air conditioners are not as good as Gree, and refrigerators cannot beat Haier. But there are enough products, and the market value is the highest in the entire electrical appliance industry.

The last two or three years have been the time for a major reshuffle of domestic electrical appliances.

In August 2004, Midea acquired Hefei Royalstar and entered the ice washing industry;

In November 2004, Midea acquired Hualing Group;

In 2005, Midea acquired Chunhua vacuum cleaner.

...

The ranking of the future market is basically established by these mergers and acquisitions.

So he can't live by the pots and pans, and he has to end up grabbing a ticket to the future.

Pots and pans can't make a lot of money. What he's envious of is the annual net profit of tens of billions of electrical appliances, and the profit is stable and increasing every year. He can do a lot of things.

After thinking for a while, Xia Jingxing said, "Well, try to make an appointment with the relevant departments of Guangdong Province. I will accompany you to have a chat with them tomorrow. I hope we can come up with a satisfactory solution for all parties."

"Mr. Xia, you, the richest man, will definitely sell your face to the relevant departments of Guangdong Province." Liu Xiaoduo smiled and flattered him.

"It's just you who talk too much."

Li Ying patted Liu Xiaoduo, but her expression was still very happy.

Yue Sheng doesn't need to sell her face, but she will definitely give face to the man in front of her.

The richest man is like this, there is a buff bonus for doing business, and the partners will take a high look.

Although Xia Jingxing, the richest man, is a bit weird, all his assets come from overseas, but his net worth cannot be faked, and the relevant departments can check the gold content to know how much it is.

"Have you talked with the people from Changhong in Meiling?"

Xia Jingxing was also thinking about another member of the Greencool family, Meiling Electric.

In May 2003, Greencool acquired 20.03% of the shares at a price of 207 million yuan.

With the collapse of Greencool, the company was acquired by Changhong last year.

Meiling's most famous product is refrigerators, with an annual output of 2 million units, ranking fourth in the country.

If it joins forces with Rongsheng Refrigerator, it can carve up a large share of the domestic refrigerator market.

Li Ying shook her head, "I have contacted, Changhong's people are very arrogant and don't want to talk to me."

"Just ignore it."

Xia Jingxing sighed inwardly, the profitability of TV sets was getting weaker and weaker, and Changhong acquired Meiling in order to enter white goods and expand the living space of its own enterprise.

This is a strategic plan, and I have already eaten it in my mouth, so I definitely don't want to spit it out easily.

"Where's the Little Swan washing machine?" Xia Jingxing asked.

The three major white goods are refrigerators, air conditioners, and washing machines.

If the acquisition of Kelon Electric goes well, the vacancies of refrigerators and air conditioners will be filled, except for a washing machine.

At this time, Little Swan ranked second in the washing machine market with an 8.2% share, Haier ranked first with a market share of 21.4%, and Midea’s subsidiary Royalstar had a market share of 5.9%.

This company is very important to Midea, it can be said to be the cornerstone of success, Xia Jingxing intends to pry away Midea.

"It's hard to talk about. The current market sales of Little Swan are very good, the profit is stable, and the market value is rising steadily."

Li Ying shook her head while talking, "The relevant departments in Xicheng want to sell some of the time, and sometimes they don't want to sell it. The stock price has risen and they want to overturn the previous verbal agreement."

Xia Jingxing nodded, "You have to understand this, after all, you have to be responsible for state-owned assets."

He felt that Li Ying was still not decisive enough, if he had come to talk, he would have cut the mess and ended it all.

But Li Ying is not the boss, but a professional manager, so she can't make a decision like him.

"Let's put it on hold for now. I'll accompany you to Xicheng when Kelon Electric is resolved."

Li Ying was overjoyed. With Xia Jingxing around, she felt like she had a backbone, and many thorny problems could be solved in an instant.

She wasn't sure whether it was because of the identity of the other party's boss or his financial ability.

"If Kelon Electric and Little Swan are resolved, our layout in Baidian will be completely completed."

Xia Jingxing stared at Li Ying, and said with a serious face: "And this just means that we have the qualification to play the game, and there will be more challenges waiting for us later.

If you come to be the general manager of this electrical appliance group, you must be mentally prepared for hard work.

Electrical appliances are only a part of the blueprint of the entire industrial group. "

Li Ying smiled, "Mr. Xia, you want me to work as a long-term worker for you?"

"You can't talk about long-term workers, but contract workers are more or less the same."

Liu Xiaoduo turned her face away, she didn't want to listen anymore, Mr. Xia changed more and more, which made her feel very strange.