Chapter 1262 - Minor issue
Chapter 1262 – Minor issue
“Old Zhong, what is it?” Feng Yu is curious. Why did Zhong Qingxian travel to Bing City to look for him? Why can’t he call him or use QQ?
“Manager Feng, there’s something which I cannot decide.”
“Don’t be anxious. Tell me about it.” Feng Yu frowned, as he must be facing some major issues for him to hesitate.
“Sina and those few companies are about to be delisted from NASDAQ, and our plans are to get the original shareholders to buy back the shares. Anyway, those are all non-voting shares, and Wang Zhixi and the rest did not object to this plan. But now, someone wants to buy the shares.”
“Who is it? If the price is reasonable, we can sell some shares to them provided their investment can help the company grow faster.”
Feng Yu is puzzled. What’s there to hesitate? These are non-voting shares, and they can set conditions like the shares cannot be traded within the next three years, etc. Zhong Qingxian should know about this.
It can’t be someone forcing Tai Hua Holdings to sell the shares, right?
Wait, this seems to be possible. But Huang Kejian had promised the government will not interfere with his companies’ development.
“Old Zhong, are you saying the Government wants to buy the shares?”
Zhong Qingxian nodded. “Yes. It is a state-owned investment company. I don’t know how they got the news that those few companies will be listed in China or Hong Kong after getting delisted from NASDAQ. They should have studied Sina and those companies and felt they can make high profits in the future. That’s why they want a cut.”
“This is not a problem. If the price is reasonable, we can accept it. Anyway, we have control over the companies, and they only want to get some dividends. Just sell some shares to them.”
Feng Yu thought for a while and felt it’s not a big deal. The shares had been sold to those foreigners, and why can’t they sell them to the government? When the companies are making profits in the future, it will not benefit the outsiders.
“The prices they offered is the current share price. This price is too low.”
“Just tell them no. If they insist on this price, just sell them a small amount.” This is trying to take advantage, and Feng Yu dislike such people.
“They do not want a small number of shares. They are asking for all the issued shares on NASDAQ, and it’s not only Sina. They also want Sohu, eBay, etc.”
Feng Yu’s face changed. This is too much.
Buying back those shares should be at premium prices. Although Sina and the other companies will be delisted, that’s their problem. It’s arranged by Tai Hua Holdings, Wang Zhixi, and the rest, and some of these shares will be sold to their employees.
Also, this will lower the share prices, and they will have to pay the price for that. They had planted wheat for a year, and when it’s about time to harvest, someone appeared and take away the fruits of their labor.
Yes, you will be paying us, but you are paying us much lesser. Also, what’s the point of us working so hard for a year?
“What did Ding Lei say?” Feng Yu asked.
NetEase is different from Sina and the other companies. Feng Yu had invested the least in NetEase, and Ding Lei is holding on to 51% of the company’s shares. He is still NetEase’s boss and is different from Wang Zhixi, Zhang Chaoyang, and the rest.
Also, NetEase is starting to make profits. Although the profits are little, that’s because they had invested in many other areas. This let NetEase develop faster than Sina and Sohu.
“Ding Lei said it’s up to us. He is fine with our decision.”
Feng Yu rolled his eyes. This cunning guy is asking Tai Hua Holdings to handle this problem.
But compared to Ding Lei, Tai Hua Holdings’ losses are much higher. Of course, the losses are referring to the potential profits.
“Have you discussed with the rest? What did they say?” Feng Yu asked.
“They are also hesitating as that’s a state-owned investment company.”
“So what if it is a state-owned company? They must also follow the industry standards! Old Zhong, I remember a Hang Zhou’s state-owned company had wanted to invest in your Lehaha. You had rejected them. Why are you hesitating this time?” Feng Yu ask.
Zhong Qingxian smiled wearily. “How can that City-level company compare to this company?”
“I want to know which state-owned company dares to be so arrogant towards us?!” Feng Yu is mad.
“It’s China Investment Company, and its Chairman is Han Aijun.”
“Han Aijun? Is he that person’s son? So what if he is that person’s son?” Feng Yu narrowed his eyes. How can they force them to sell the shares at lower prices?
Feng Yu called Director Fang to ask if this is a decision from the higher-ups. In his heart, hee knew this should be Han Aijun’s decision.
Indeed. A few minutes later, Director Fang called back and told Feng Yu the higher-ups had not issued this order. He also assures Feng Yu this will not happen again.
The higher-ups want to maintain a good relationship with Feng Yu as he is a genius.
Until now, everything Feng Yu did is to benefit the country. The higher-ups will not be short-sighted and confiscate his assets.
A talented genius can bring in much more profits.
…….
“Who asked you to contact those internet companies to buy their shares?”
Han Aijun looks at Director Fang in shock. “It’s my own decision. I had studied those few companies, and they are currently the top few internet companies in China now. Also, they’re doing much better and will surely be profitable in the future.”
Han Aijun is confused. He is doing this for the company and the country. What’s wrong with it?
“Then why did you demand them to sell you all the issued shares at the current share prices?”
“The shares can make money, and we must buy more of them. What’s wrong with buying those shares at the market prices?” Han Aijun is confused.
Director Fang saw Han Aijun’s attitude and finally understood why Feng Yu says it is a mistake to let someone who doesn’t know about financial markets to manage an investment company.
Han Aijun is not lowering the prices on purpose. He does not know about buying the shares at premium prices. He only wants to get the best for the state-owned company but did not know what he did is taking advantage of others.
Seems like it’s time to reselect the heads of these state-owned enterprises. Director Fang will suggest this to the higher-ups and contact Hong Kong’s Professor Liang and other experts to manage the state assets.
…….
Zhong Qingxian hung up after Wang Zhixi’s call and told Feng Yu. “Manager Feng, that state-owned investment company called up and said they had made a mistake previous. They only want half or even one-third of the issued shares, and we can decide on the price.”
Feng Yu closed his eyes and leans against his chair backrest. “Then sell one-third to them and just charge them 10% higher than the current share prices.”