Chapter 477

There is a garden on the East and west sides of the Bank of China building. There are running water, waterfalls, strange stones and trees in the garden. The running water gurgles down the terrain. From a practical point of view, the gurgling sound of running water can also absorb the traffic noise from the surrounding elevated roads. However, traditional Hong Kong people like GE Mingde think that the gurgling water implies endless financial resources, The copper statue of "harmony" standing in the southwest corner of the building, and two huge bronze statues are eye-catching against the gray granite.

Zhang Ke stood in front of the Bank of China building, looked at the three storey stone pier, and then up was the glass curtain wall reflecting the color of the sky. He stared at the two top poles on the roof for a while, which made people dizzy and moved.

It seems that as long as he takes another step forward, he will realize that he really wants to step into the list of rich Chinese businessmen. However, Zhang Ke appreciates this most famous high-rise building in Asia in 1996. Sun Shangyi, Ge Mingde, Zhou you and Xu Si are all very patient waiting for him to express his meaningless leisure.

Lu Lujin, senior vice president of yinheng securities, and his assistant have been waiting for the arrival of Zhang Ke, sun Shangyi and Ge Mingde in the square in front of the business hall of BOC building.

Lu Lujin and sun Shangyi saw their car drive into the temporary parking lot in front of the building by telephone. They saw sun Shangyi and his party get out of the business car, but they didn't rush towards them. Instead, they went to the southwest corner of the Bank of China building to watch these magnificent buildings.

The staff of yinheng securities can't help but turn their mouths. In this era, senior staff working in famous securities companies can be called the pride of this era. Some really don't pay attention to the rich leopards from the mainland. Lu Lujin stood there patiently waiting for sun Shangyi and his party to come. He heard sun Shangyi say that the founder of IDA Electronics was too young. When he saw Zhang Ke walking slowly on crutches, he thought: he was too young and elegant.

These days, he has carefully read and analyzed all the data he can collect. This is an emerging high-tech enterprise rising with the help of the rise of the mainland disc player market in the past two years. Unlike the mainland private enterprises in his impression, even if he takes a strict eye to criticize, he can't see that this company has obvious defects in management links that can be blamed; Of course, this is just a sense from the data and documents, so Lu Lujin wants to go to Haizhou to observe in person as soon as possible.

Recently, Kewang Electric has gained a great reputation in Hong Kong because of its cooperation with Jiaxin electronics, but in real comparison, Kewang Electric has too much gap with Aida electronics. From the complete data submitted by Aida electronics, Aida electronics has advanced preparation in patented technologies such as system control chip and power control chip. At present, the appearance of mainstream disc players is still a little clumsy, Ida electronics not only has the ability to make ultra-thin body, but also puts forward the concept of mobile VCD with LCD screen. Most of the corresponding patented technology research and development are also carried out. In particular, the recent movement factory project jointly invested with American TI company has undoubtedly established IDA electronics's leading position in the disc player industry.

It is an indisputable fact that the cooperation with the participation of overseas electronic giants such as American TI company can win the trust of Hong Kong investors. Moreover, some patented technologies needed by the movement factory come to another overseas electronic giant Philips, which naturally makes people full of expectations for this enterprise, What is the special courage to pull the two famous overseas electronics giants to cooperate together?

A private enterprise in the mainland has miraculously risen rapidly in an unknown city. This process itself is full of curiosity.

This is Zhang Ke's first contact with people in the securities industry in Hong Kong. He almost looked at them with pity. Although they are now well dressed, they only have more than half a year left. Judging from the overall economic situation, they will not be able to breathe a sigh of relief until seven years later.

The result of the preliminary negotiation is that yinheng securities will provide operational guidance and business services for the whole additional issuance scheme of Jiaxin industry. Accountants and asset evaluation firms are also required to conduct a comprehensive investigation on the business of Aida electronic disc player and give an authoritative evaluation report before further negotiation and negotiation on the underwriting method and underwriting fee. Of course, Yinheng securities also proposed that in order to further improve the financial structure of Aida electronics, it would recommend two Hong Kong investment institutions to participate in Aida electronics.

Since Aida Electronics was registered as a joint-stock company at the beginning, the total number of shares has changed little. The total number of shares has increased from 10 million to about 10.4 million, including equity incentives such as zhouyou, Jiang Wei and Lu Qingsheng. According to the financial level of Aida electronics in 1996, the net asset per share has reached 40 yuan, and the profit per share has reached 100 yuan.

Zhang Ke is well aware that it is inevitable to smoothly implement the additional issuance plan and give more benefits to the securities issuers. This is almost a piece that domestic enterprises must exploit when moving towards the overseas capital market. The so-called two Hong Kong investment institutions recommended by yinheng securities are naturally the interest related institutions of yinheng securities, Zhang Ke agreed to issue no more than one million shares to the two institutions at $40 per share.

This kind of private placement of non listed joint-stock companies to overseas investors or institutions is an overseas private placement in the ordinary sense. According to the agreement of Hong Kong Legal lawyers on joint-stock companies, the shares of overseas investment institutions participating in private placement can be transferred after six months, that is, after six months, the private placement plan will be implemented smoothly, When these shares are converted into shares publicly issued by Jiaxin industry, investment institutions can reduce their holdings and make profits in the Hong Kong stock market.

The profit of this part is usually several times of the issuance cost.

This is also good for Aida electronics. Driven by common interests, yinheng securities will naturally more actively promote the implementation of the additional issuance scheme; The directional issuance of one million additional shares does not have an obvious dilution effect on the profits of other shares. If IDA electronics can obtain a working capital of US $40 million, it can completely solve the capital problem of IDA electronics and increase the net assets per share to about 70 yuan.

Due to the participation of international institutions, the value of Aida electronics naturally has a reference benchmark. After deducting the intangible assets of Jinhu Electronic Technology Research Institute, Taite Photoelectric Technology Research Institute and Aida electronics trademark, Aida Electronics - including electronic component subsidiaries, group companies, assembly plants, precision mold factories Physical assets such as movement factory joint venture projects also include equity assets held by parts supply enterprises, as well as permanent licensing of Aida electronic trademark audio-visual disc players, various audio-visual patent technologies, including system control chip technology, video coding chip technology, audio signal processing chip technology, sound effect chip technology The value of intangible assets such as digital signal processing chip technology and complete single disc and three disc movement manufacturing patent technology has reached US $400 million.

Naturally, the market value of Aida Electronics will far exceed this number after the additional issuance and M & a plan is passed. The investment institutions recommended by yinheng securities spend a lot of money to participate in the shares at this time, hoping to obtain at least double the income after the implementation of the additional issuance and M & a plan.

Zhang Ke had previously asked the domestic accountant affairs to make a complete financial report, and frozen Yuexiu (company)'s 30% stake in Jiaxin industry with a market value of nearly HK $300 million as a good faith guarantee for the financial report. On December 30, he signed a fund-raising agreement with two investment institutions recommended by yinheng securities.

The main reason for this right is that Zhang que strongly demands that the additional issuance plan be completed before June 1997. According to the legal provisions in Hong Kong that the shares of participating companies must be transferred after six months, if an investment institution wants to sell its shares for profit when Jiaxin industry publicly issues additional shares, it must immediately sign a participation agreement with Aida electronics. Fortunately, Zhang Ke can provide sufficient credit guarantee assets, otherwise it will be difficult for both parties to reach an agreement on this article.

Of course, in order to complete the whole additional issuance scheme, the accounting firm, asset evaluation firm and law firm recommended by yinheng securities and jointly selected by Jiaxin industry and Aida electronics need to issue a complete financial and asset evaluation report to Aida electronics. In addition, a professional evaluation report on the value of CD-ROM audio-visual patent technology is also required, In short, it is a very professional and cumbersome job. Although Zhang Ke has done a lot of work before, it can not reduce the links of the whole procedure. Time is still very urgent to implement this plan in May and June 1997.

On January 3, as a Hong Kong company participating in the private placement investment and listed on the London Stock Exchange, Guoyu Investment announced that it had signed an agreement to inject US $20 million into Aida electronics, a leading domestic disc player manufacturing enterprise, in exchange for 500000 shares.

This is a very insignificant piece of news, but Guoyu group, the holding parent company of Guoyu company, was listed on the stock exchange of Hong Kong, and Guoyu group also issued an announcement at the same time.

Xie Jiannan was flying from Haizhou to Hong Kong again and invited Ge Mingxin and Ge Yinjun to Haizhou to attend the foundation laying ceremony of Kewang R & D center. Hearing this news, they were filled with mixed feelings. They did not hesitate to sell the interests of their ally Jincheng Group. Kewang then transferred 10% of its shares to Jiaxin electronics to obtain a capital injection of less than HK $50 million, Aida electronics received a capital injection of US $20 million by transferring less than 5% of its shares, that is, Guoyu investment, a British listed Hong Kong company, valued Aida electronics at US $400 million and RMB 3.2 billion.

Although Aida electronics made huge profits in 1996, Jinhu and Haiyu transferred most of their profits. Xie Jiannan estimated that the net assets of Aida electronics were between 300 and 400 million, and their shareholders invested more than 300 million in Kewang. This huge valuation gap is even less than one sixth of that of Aida electronics, Is it just a year behind?

Xie Jiannan was in a terrible mood after he arrived in Hong Kong.

He was full of confidence in the cooperation with Jiaxin electronics. He previously believed that Kewang could quickly shorten the gap with Aida electronics as long as he received the technical, human resources, financial and other assistance from Jiaxin electronics. Moreover, at the end of 1997, Kewang, as the advertising Standard King of CCTV, occupied an obvious advantage in market information resources. However, Kewang was making efforts, and Aida electronics did not stop. Kewang introduced a capital injection of HK $5000, followed by Aida electronics, which introduced a capital injection of US $20 million.

Unfortunately, Xie Jiannan received a call from Zhang Xiaojian in China in the evening. The amount reported by Aida electronics to the provincial foreign exchange administration branch and the Municipal Administration for Industry and commerce was more than 20 million US dollars, but doubled.

On January 5, Zhang Ke removed the plaster of his right foot at the Hong Kong Changkui hospital donated by GE's family. He did not move his right foot for a month, and his muscles shrank. There was an obvious difference between the two feet. Sun Shangyi also recommended the rehabilitation doctor of Changkui hospital to Zhang Ke. Even if Zhang Ke returned to Haizhou, the rehabilitation doctor could accompany him and guide him to do rehabilitation exercises.

On the plane from Hong Kong to Jianye, sun Shangyi also talked about it.

This time I'm in business class. In addition to them, there are Lu Lujin, senior vice president of yinheng securities. In addition to Zhang Ke, Fu Jun and Ma Hailong, others are members of the additional issuance and M & a scheme team. In addition, Su Jindong, Jiang Wei and Zhou Yiping who are still in Haizhou are also included.

They wrapped up the business class of this flight to Jianye. It's not a luxury. The key is that they can't sit down and have a few more seats. They're not afraid that others will hear any business secrets when chatting.

Lu Lujin heard their conversation and said strangely, "Ke Shao doesn't have a special rehabilitation doctor. I may help Ke Shao recommend..." after more than ten days of contact, he also admired Zhang Ke's magnanimity, commercial talent and his mastery of finance, business knowledge and negotiation skills, I believe that some people are born to be beyond the reach of ordinary people.

Zhang Ke refused with a smile, "I'm not so delicate, and Haizhou doesn't have a rehabilitation doctor. I think this foot will recover after walking for a few more days. It's not like being a sprinter in the future. I can't get out of a bad situation at all..." he turned around and said to sun Shangyi, "The cost of human resources in Hong Kong is the most expensive. The starting salary of college graduates is HK $10000. If I go back to Haizhou, it will be enough to invite 20 senior doctors to go around me..."

Zhou you smiled and said, "it's enough to go back to Haizhou and ask two young and beautiful nurses to run with you."

"That's a good suggestion," Zhang Ke agreed and joked.

Xu Simei opened her eyes slightly, smiled and said, "I'd like to see you go back to Haizhou to find two beautiful nurses to accompany you..."

"Just think about it here..." Zhang Ke smiled. Xu Si won't stay in Haizhou for too long, but it's no worse than finding two beautiful nurses to think that Tang Jing and Wanqing will accompany them in rehabilitation exercises.

Lu Lujin was used to Zhang Ke's not too serious tone. He smiled helplessly and said, "you may always enjoy a more exquisite life now. President Zhou is now worth tens of millions and more developed than me..." Lu Lujin came to Hong Kong from Guangzhou in the early 1980s. He has been in Hong Kong for more than a decade and has been a senior professional manager for five or six years. With an annual income of nearly HK $10 million, he has been used to enjoying the exquisite life of the rich in Hong Kong. However, he also knows that the next decade will be the golden age of wealth creation in the mainland. Even in Hong Kong business circles, such as traveling around the world The key to the elite of top talents is that they have enough enterprising and hardworking spirit. It's only a matter of time to obtain wealth. They smiled and said, "this time, IDA electronics has given birth to a group of rich people in Haizhou. It's also right to enjoy an exquisite life..."

After the implementation of the equity incentive plan implemented at the end of 1995, zhouyou won 100000 shares of Aida electronics, and the dividend of these 100000 shares will reach 6 million yuan in 1996. To take the stock price of this private placement as a reference, the value of these 100000 shares of Aida electronics under zhouyou's name will reach US $4 million, Cai feijuan, Jiang Wei, Lu Qingsheng and Yang Zhi, general manager of the component branch The two chief engineers of PU and Jinhu Electronic Technology Research Institute who have made outstanding contributions to the research and development of audio-visual technology will smoothly enter the ranks of multimillionaires. At the end of 1996, that is, the equity incentive plan that Zhang Ke will sign when he returns to Haizhou this time will reward hundreds to 10000 shares to managers including Yang Yun, Zhou Yiping and other first-class department heads, and can urge them to participate in the competition Su Jindong and Ding Huai hold a total of 500000 shares, and their assets will reach US $20 million regardless of the dividends paid in 1996. Naturally, these financial details should be disclosed to the members of the additional issuance M & a plan implementation team, half of whom are senior staff of Hong Kong accounting firms, law firms and asset evaluation firms In Hong Kong, we are also regarded as highly paid golden employees. We also envy so many managers of IDA electronics who can get incentive equity. We think that these people can live a more dignified and exquisite life in a place where their living standard is much worse than that in Hong Kong.

"Too delicate life just binds one's life in a very narrow circle," Zhang Ke sighed, but he would not deliberately refute Lu Lujin's point of view. The differences in life concepts between the two places are too great. It would be impolite to refute others with one's own life concepts, and said with a smile, "The foundation of Haizhou is too poor. Even if you want to enjoy a fine life, there is no place to enjoy it."

Sun Shangyi said: "Ke Shao said that hard-working and pragmatic people can eventually live a decent and dignified life in Aida electronics. I think Haizhou will soon form a large white-collar middle-class community centered on Jinhu..."

"I have contacted several mainland enterprises, including state-owned enterprises and private enterprises. The managers of these enterprises are very different from Ke Shao's idea..." Lu Lujin said. "They have always emphasized the low labor cost in the Mainland..."

"This is an advantage of the mainland," said Zhang Ke with a smile. "Low human resource cost is indeed the main advantage to attract investment at present, but the working class has power and the exploitation of capitalists will always become tender. How can you say it with high sounding..." Zhang Ke turned his head and asked him to travel around. He didn't think of the right words, but Zhang Ke thought of the right expression first. "It should be the core social responsibility of a modern enterprise for employees loyal to their work to live a decent and dignified life. In this way, would it be more dignified?" people laughed nearby, and Zhang Ke mocked himself, "Aida electronics has better opportunities and sufficient profits. It's so-called desperate. At this time, of course, it's not necessary to show its ferocious face naked, so it's covered with a warm veil of shame..."

Zhou you smiled and said, "no capitalist will expose himself like you..."

In order to prevent the media from paying too much attention to the additional issuance and M & A, Zhang Ke has long dispersed his shareholding in IDA electronics under the name of Jinhu to many companies such as Xinguang paper and Jinhu Electronic Technology Research Institute. However, people who know the inside know that Zhang Ke actually holds 7 million shares of IDA electronics, which is worth up to 280 million US dollars based on the negotiation of the private placement agreement, This is also convenient for Xinguang paper and Jinhu Electronic Technology Research Institute to obtain a certain proportion of development funds respectively during the implementation of the additional issuance plan. At this time, the main assets of Jinhu Electronic Technology Research Institute are reflected in the shareholding of up to 5 million shares of Aida electronics, which are transferred under the name of Jinhu, Jinhu's shareholding in Jinhu Electronic Research Institute increased from 70% to 90%.

Jinhu Electronic Technology Research Institute is also a registered joint stock limited company with 10 million shares. Jinhu holds 70% and 7 million shares. The Institute mainly owns the ownership of Aida electronic trademark except audio-visual disc players and intangible assets with great potential. Of course, Xie Wanqing, Su Jindong and Ding Huai can't compete with Zhang Ke. Zhang Ke said that these assets are worth 100 million US dollars, Then he injected the 7 million shares of Aida electronics worth US $200 million into the Research Institute, and the Research Institute will increase the number of shares to 20 million to Jinhu, the total number of shares will increase to 30 million, and the other 3 million shares. Haiyu holds 2.1 million shares, and Su Jindong and Ding Huai hold 450000 shares respectively.

Now the research institute is waiting for the five million shares of IDA held by its name to be converted into funds for technological expansion.

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