Chapter 613 – Changes to the ownership structure
“Hello? Dad, can I discuss something with you?”
“What? I am busy. Keep things short! Stop, San Wan, I win!”
Feng Yu: “……” You said you are busy? Playing Mahjong is also considered busy?
“Dad, can you sell me your Bing City Machinery Company’s shares?”
Feng Xingtai also holds Bing City Machinery Company’s shares. But he does not care about it. Even the dividends were credited into Feng Yu’s account. He even forgets he was a shareholder.
When Feng Yu mentioned about this, he was confused: “Are you asking for a beating? Those shares are yours in the first place.”
“Dad, you must at least sign the documents to prove you had sold the shares to me. I still have some money in Tai Hua Trading. I will transfer the money to you, and you can invest the money into your factory. Tai Hua Processed Food factory is expanding very fast and needs money.”
“Ok, ok. Just get someone to bring the contract over, and I will sign it. Don’t bother me with all these matters. Eh, eh, eh…… It’s my turn? Six Bamboos.”
“Ok. I will let the lawyer look for you. It is the Caucasian man with a big mustache. You will not hold any position in Bing City Machinery Company in the future, and you will have to return your office.”
“I know. Is there anything else? How is school? Can you understand your classes?” Feng Xingtai asked.
“Yes. No problem. Errr…… Dad, I will hang up first. I still have work to do.” Feng Yu quickly hang up. What school? Feng Yu was still in China and did not return to Hong Kong.
……
“Old Feng, can you stop answering the phone when we are playing mah-jong? You think you are the only one who has a mobile phone?” Wen Deguang said. It was the annoying look on Feng Xingtai’s face when he speaks on the phone. He was trying to show off his mobile phone. Wen Deguang, the district chief only had a pager.
“What’s wrong with answering the phone? I can’t even answer the phone? Your son had wanted to buy a mobile phone for you, and you are the one who does not want it. Who can you blame?” Feng Xingtai purposely put his mobile phone on the table on top of a stack of 1 and 2 RMB bills.
Feng Xingtai was rich now, but he noticed that he does not have a lot of friends. He spends his days fishing, strolling along the river banks. He could not finish spending his money, but his friends still need to work.
Only on weekends, Feng Xingtai could meet up with Wen Deguang and the rest to play a few rounds of mah-jong.
Zhang Muhua was different. She had a new hobby introduced to her by Feng Yu. Cross stitch.
Cross stitch was an ancient art. But it was not popular in the current era. In Feng Yu’s previous life, cross stitch only became popular in 2005. Currently only a factory was producing cross-stitch products, and there was only one design.
After Feng Yu got people to bring back more designs from overseas, Zhang Muhua was addicted. She shared with her neighbors, and all of them gathered to do cross stitch together when they were free.
……
3 days later, Li Dafu sold off his company. Because he was in a hurry to sell off his company which was worth at least 70 million for only sold for 65 million. It was sold to another businessman from Zhejiang business association.
Li Dafu’s company annual profits were more than 10 million. If he had the funds, it could increase further. In the previous life, Li Dafu had borrowed money from the banks to grow his business and then started his motorcycle business. Later, he set up Geely.
But in this life, there will not be Geely anymore. Even if there is a Geely, Li Dafu will not be the boss of it. Maybe the other Geely founders will start a new Geely.
On the surface, Li Dafu seems to have made a loss. The dividends he will get from Bing City Machinery will not be as high as 10 million. Although Bing City Machinery Company’s profits were very high, more than 4 billion, but the dividends paid out were only a small portion. Most of the profits were reinvested into the company’s R&D.
Li Dafu felt the value of his shares will multiply in 3 years, and it does not include the millions of dividends every year.
Furthermore, the company might be listed in the future. Once listed, the company’s value will increase further. The dividends will be much higher in the future.
Li Dafu firmly believes that he made the right decision. If he could show Feng Yu his management capabilities in these two years, he might even vie for the position of Chairman once a board of directors was set up. From what Feng Yu said, it seems that Feng Yu was not interested in becoming the Chairman. That means he might get full control of Bing city Machinery Company one day.
Of course, he also felt this was not possible. No shareholders would want to give up their authorities and let someone else run the company. Even if Feng Yu was not interested, there is still the other shareholder from Hong Kong.
Li Dafu did not expect that once he entered Bing City Machinery Company, there was a change in the ownership structure. Feng Yu had persuaded Fu Guangzheng and Bing City Government to give Li Mingde and dozens of management staffs some shares. The total amount of shares owned by these people adds up to 2.5%.
Although Li Mingde had not reached the retirement age, he requested early retirement. He was no longer a government servant. Bing City Machinery Company immediately employed Li Mingde and gave him 0.5% shares. Of course, Li Mingde’s monthly salary was also adjusted to only 500 RMB. But Li Mingde does not mind as he will be getting a lot more dividends.
The rest of the branch factories’ directors, deputy general managers, and other top management staffs were given 0.01 to 0.02% of shares. Coupled with the 2.5% shares Feng Yu sold to Li Dafu, Bing City Machinery Company have more than 20 shareholders. But Feng Yu still holds 53% shares of the company!
The company also form a board of directors. Feng Yu, Fu Guangzheng, Li Mingde, Li Dafu and a representative from the City Government form the board. Li Mingde was appointed as the Chairman and General Manager.
Li Dafu finally got what he wished. He became one of the Deputy General Manager with 4 others. Feng Yu and Fu Guanzheng no longer hold the position of deputies. Anyway, they were on the board, and they could watch over the company as one of the directors.
Many people in the company were shocked at Li Dafu’s appearance. Why did Feng Yu sell the company’s shares to this person and let him handle the automobile division?
Li Dafu was formerly the boss of a company. He was able to secure his position in a short time and impressed those that were unhappy with him.
These were not important. Feng Yu had returned to Hong Kong……