Chapter 720 – Refusal
After Feng Yu met Zhang Ruiqiang, they had a short chat behind closed doors. Zhang Ruiqiang told Feng Yu about what happened and did not force Feng Yu to get his company listed. Feng Yu was glad that Zhang Ruiqiang did not try to force him.
Without Zhang Ruiqiang’s help, Feng Yu’s businesses would not be able to grow so fast. When Feng Yu was starting out, Zhang Ruiqiang had many opportunities to forcefully take over his businesses.
Furthermore, the Provincial Government’s No. 1 only wanted to meet Feng Yu. Feng Yu does not mind meeting him, but he was determined to not let Bing City Machinery Company or Bing City Pharmaceutical Enterprise to be listed. Even if the Provincial Government simplified the procedures, he will also not agree.
This was not the right time.
Although listing the companies in a bearish market might not have losses, it will still lower the share prices. Why not wait until the bull market?
At 10 am, Feng Yu followed Zhang Ruiqiang to the Provincial Government’s No. 1 office.
This was not their first meeting, and the Provincial Government’s No. 1 had spoken to Feng Yu a few times. But they were not close. Feng Yu was also not as relaxed as he was in Zhang Ruiqiang’s office.
“Secretary Xu.”
“Come and take a seat. Xiao Wang, prepare the tea.”
Secretary Xu walked towards the sofa with Zhang Ruiqiang and Feng Yu. This was a show of friendliness, and he would only do this with people close to him. When he first met Feng Yu, he felt this young man was not simple. It was because people will get nervous when they met someone in his position.
When the Provincial Government’s No. 1 saw Feng Yu’s meeting with the Chief Architect and Iron-fist Zhu, he also noticed Feng Yu was not nervous at all. This let him believe that Feng Yu’s success was not by luck.
How could a young man, who could speak normally with the Chief Architect, bow down to his pressure? This young man was praised by the Chief Architect, and he heard rumors that Iron-fist Zhu tried to recruit him. The Provincial Government’s No. 1 dare not to use his authority to pressure Feng Yu. If words spread, then it will really be the end of his career. Another reason was Feng Yu’s Hong Kong friend and one of the shareholders of the Machinery Company.
The Provincial Government’s No. 1 does not dare to pressurize that Hong Kong businessman. He was afraid of the consequences. During this period, all government officials must make sure everything goes smoothly for Hong Kong’s return to China and cannot offend or create trouble for Hong Kong businessmen.
“Manager Feng, I am curious. Why you do not want Bing City Machinery Company to be listed? There are a lot of benefits from listing your company. You will also get high returns.” Secretary Xu asked.
“I admit that there are lots of benefits from a listed company. It will increase the funds, and it will be a good promotion for the company. But this is not the right time yet. I am sure you about our stock exchange now. Most of the shares are dropping, and only a handful of shares are increasing. That means many investors are not buying shares. Last year and early this year, the US and Japan stock market have high fluctuations and had affected the Chinese investors. If Bing City Machinery Company were to be listed now, the share prices might not drop. But the increase will not be a lot. This is not wise.”
“Why is this not wise? From your words, you do not object to list this company on the stock exchange. You only feel that the share prices will not increase a lot? But that is also an increase in your share prices. Even if the share prices will increase a lot when you list the company two years later, but what’s the difference if you list the company now? The growth might be slower now, but it should be able to reach the same level as two years later.” Secretary Xu asked.
Feng Yu shook his head: “The problem is, what are the reasons for us to get listed now? To raise more funds for the company’s development? To increase our company’s brand awareness? Bing City Machinery does not lack development funds. Even if the company is short of funds, I can also increase my investment in the company. I had said before that I want to build China and the world’s best vehicles. This will not change. Currently, our Songjiang cars are very famous in China. We might not be the number one in China, but we are one for the top 3 automobile brands in China. There are no other automobile brands that grow as fast as us.”
Feng Yu had made it clear to the Provincial Government’s No. 1 that he does not need all those so-call benefits from listed companies. The Bing City Machinery Company does not lack the funds or publicity, and why should the company get listed?
Feng Yu knew why Secretary Xu insisted on him listing his company. It was because he wanted to get the credit. But Feng Yu was not close with Secretary Xu and does not think that he would get much help from Secretary in the future if he helps him now.
“Manager Feng, if Bing City Machinery Company were to get listed, I will take care of all the paperwork and approvals personally. Also, policies like tax subsidies and cheaper land parcels will be implemented to help your company. The Provincial Government can even purchase a batch of Songjiang vehicles!” Secretary Xu said.
This was the highest offer Secretary Xu could offer to Feng Yu. He could give more promises, but that would be against the law. If he really steps out of the line, he would be in trouble.
Feng Yu shook his head firmly: “Secretary Xu, we have been paying all the taxes and had even donated large sums of money to the schools in Longjiang province every year. Bing City’s geographical location is not suitable for us to expand our factory. Even if our factory has plans to expand, we will choose to set up branch factories in other regions. I hope you can understand.”
Secretary Xu was disappointed. Why Feng Yu does not want to give in? I had already show my sincerity, and he still does not accept my proposal?
Many companies that wanted to be listed will try all ways to get support from the Provincial Government. But Feng Yu does not want his company to be listed. He was not even moved by the conditions offered.
What should Secretary Xu do? Will this be the end of his political career?
Zhang Ruiqiang was not sure whether to console Secretary Xu or persuade Feng Yu.
“Manager Feng, is there any other way to change your mind?” Secretary Xu had been a stern and firm leader in front of his subordinates. But at this moment, he looks dejected, and Zhang Ruiqiang felt sad to see the leader he respected looking so devastated.
Zhang Ruiqiang asked: “Feng Yu, can you consider this? This is very important to Secretary Xu.”
Feng Yu shook his head: “I need to be responsible to all the employees of Bing City Machinery Company. This is really not the right time to get the company listed. If we get listed and our shares remain unsold, or the share prices drop, it will be all the employees’ losses. It will also be Bing City’s losses. But I promise that I will surely invite Secretary Xu when Bing City Machinery Company gets listed.”
Secretary Xu did not get angry with Feng Yu after hearing what he said. He had worked hard all his life and did not want to let others blame him for forcing a company to get listed for his own benefits. Furthermore, this might let the employees suffer losses. He would feel guilty.
Never mind. At most, I will retire to the back end and spend the rest of my days in a relaxing post.