The LCD display technology jointly developed by Fengyu Electronics and Philips is already at the top of the world. However, Fengyu Electronics has never produced it itself. It only asked Philips' factory to help produce a batch of them.
Feng Yu did have plans to build his own factory for production. When he was arranging for people to search for factories suitable for acquisition in China, someone from above took the initiative to contact Feng Yu.
Sichuan-Sichuan Changhong Group, a listed company and the leading domestic TV company, once occupied as much as 60% of the Chinese TV market share. The 21-inch large color TVs produced that year were even exported to more than a dozen countries.
But now they are in trouble, that is, they are too superstitious about 21-inch color TVs. Because sales were good at that time, they continued to expand production capacity and purchased production lines, all of which were for 21-inch color TVs.
Nowadays, family demand for color TVs has gradually changed from 21 inches to 29 inches, 34 inches and so on. Their 21-inch color TV is out of stock!
This problem also caused Changhong’s stock price to fall and fail to recover. Those small factories that originally produced 19-inch and 17-inch color TVs have successfully transformed and produced computer monitors, especially 17-inch computer monitors, which are now mainstream.
Changhong's current products are unsaleable and its transformation is difficult. It urgently needs a new way out.
The leaders above also attach great importance to such leading companies, not to mention that Changhong is still a constituent stock of the mainland stock market. I don’t know who suggested to the leaders above that it would be better for Changhong to form a joint venture with Fengyu Electronics or Fengyu Electrical Appliances. They could swap shares or even merge to complement each other’s strengths.
When Jiang Wanmeng told Feng Yu about this, Feng Yu's forehead wrinkled into the character "Sichuan".
If it were two years ago, Feng Yu would be very happy if Changhong wanted to jointly form a joint venture with Fengyu Electric. At that time, Changhong’s workers, technology, and production lines were all first-class, and its assets were in good condition. It was still a key enterprise supported by the state. After the cooperation, there would be A big advantage.
But now, the Changhong family, which has gone downhill and is about to lose money this year, is still thinking about a joint venture with Fengyu Electric or even Fengyu Electronics. Feng Yu is not willing. If you exchange shares for cooperation, you can still consider it.
Transforming this company into producing LCD TVs and LCD screens seemed to be a good idea, but Zong Qing went to talk about it in person and told Feng Yu some bad news. The other party had too much appetite!
Changhong's boss didn't say anything. As long as they cooperate with Fengyu Electrical Appliances and get help from Fengyu Electrical Appliances' technology and sales channels, they are confident that they can turn losses into profits. It would be even better if they still have some funds. They can use it to transform the production line. Whether it is producing larger 29-inch or even 34-inch TVs or 17-inch computer monitors, he believes they can make money.
He only asked for equal exchange of shares and equal cooperation between both parties. But the leaders above didn't think so. Feng Yu suddenly became the richest man in Asia. His rise was so fast that the world couldn't help but look at him with suspicion.
Taihua Holdings Group, they all think it should be nationalized. How can there be such capitalists in a socialist country! Although the national policy of the great man is to allow some people to get rich first, they cannot be so rich. They are as rich as some small countries!
And Feng Yu actually has more assets in a Fengyu Holding Group, which is registered overseas. Doesn't that mean that all the money has been earned by foreign countries? If Feng Yu emigrates in the future, it will be a serious outflow of assets!
Even if you can't control Taihua Holdings Group, it's okay to take a shareholding, right? We can provide some guidance to this company and provide some management talents.
But by suddenly investing in Taihua Holdings Group, they were afraid that it would cause Feng Yu to resist. If it affected public opinion, no one would be able to shoulder the responsibility.
Some people thought that they could conduct some experiments. We won’t move on Taihua Holding Group for now, but we can try investing in those subsidiaries first.
If it is feasible, then they can slowly eat away at Taihua Holdings Group, and it is even possible to control Taihua Holdings Group in the future. If it goes more smoothly and Fengyu Holdings Group can also be controlled, that would be even better!
So the leader above said that Fengyu Electric was too small and Fengyu Electronics should be merged together. Well, all of them would be merged into Changhong. Changhong holds 60% of the new company's shares. Fengyu Electronics and Fengyu Electrical United holds a 40 percent stake in the new company.
Zong Qingxian and Jiang Wanmeng refused at the time. Are you kidding me? Even if it is a merger, we should be the main ones. Even though our assets don’t seem to be high, that’s because we are not listed.
Besides, are we short of money? The parent company can definitely inject capital into us and increase our market value. Cooperation is possible, but we must be the master!
…
"How about Lao Zong, Lao Jiang, and Lao Guan? Do they still want us to reply as soon as possible?"
Zong Qingxian shook his head: "Not only that, the other party also hinted to us that if we don't agree to their conditions, both Fengyu Electronics and Fengyu Electric will be in trouble."
In fact, if Aiwa Electronics and Aihua Electric did not have shares in the island company AIWA, they would have wanted to merge together.
As for Fengyu Electronics and Fengyu Electrical Appliances having shares in Xiangjiang merchants, they don't care at all now. Xiangjiang has returned, and it is all Chinese territory. Why, do you still want to make it special
If Fengyu Electric was merged, according to the market value, Changhong should indeed be the major shareholder. This condition is normal, although Feng Yu would not agree to it.
But now the other party wants Fengyu Electric and Fengyu Electronics to merge and threatens them, which Feng Yu is not happy about. What's the matter, you think I'm a soft persimmon, easy to pinch
Fengyu Electronics is not just about the Fengyu brand, but also a variety of world-class patented technologies including VCD, DVD, optical drives, mobile phones, LCDs, communications, smart homes, etc. These patents alone are worth at least five dollars if they are sold for sale. One hundred million U.S. dollars!
The market value of Changhong is not that high at this time. How did those officials calculate that they can hold 60% of the shares
What kind of bullshit is transporting management talents, just sending some officials over? Changhong started to decline because of the blind instructions of those officials and the blind expansion of production.
"Which department does the leader who made these requests belong to?"
"There is an industrial leader who is not from Changhong Group and has never dealt with him before. We are also supposed to be a key enterprise in the province, but we went to the provincial leaders, but they all avoided him. It was obvious that they were being manipulated by the higher-ups. Say hello!" Jiang Wanmeng said angrily.
Yes, they made money, but how much did they contribute to the province? If they had invested elsewhere, or even abroad, the country, not to mention the province, would not have been able to earn this money!
Then you can become a foreign investor and come back to invest, making more money. After all, people at that time thought that the moon in foreign countries was rounder.
Could it be that the country saw that he made too much and planned to touch him? It shouldn't be, obviously supporting him now is more in line with the interests of the country.
It seems that I need to inquire about this matter from above.
…
(End of chapter)