Nanhua Group is currently exhausted in liquidity funds and needs to recover 15 billion to 20 billion in the short term to cope with the short-term debts and interest payables that are intensively due in the next year. Not only is it a big and small real estate projects under its stakes, but it is also natural for Xiang Qiang to transfer shares of Xinchaorui Real Estate and Xinchaorui Commercial at this time.

Currently, Xinchaorui Commercial is worth 5 billion yuan, Xinchaorui Real Estate is worth 4 billion yuan. Nanhua holds 20% of Xinchaorui Commercial and holds 10% of Xinchaorui Real Estate. The reasonable valuation is about 1.4 billion yuan. Xiang Qiuning wants to take over, but the funds under her personal name are mainly small part of Nanhua's equity. When the storm is about to come, they cannot reduce Nanhua's shares and exchange them for holdings in Xinchaorui Commercial and Xinchaorui Real Estate.

In that case, how do you think of her former subordinates and relatives and friends?

However, if Nanhua really wants to transfer this part of the equity, under the same conditions, Chen Li and the others have the right to take over the priority.

"No problem. I asked the listed company or took over the equity that Nanhua gave up in the name of Xinchaorui Real Estate. I notified Zhou Bin to contact Xiang Qiang directly..." Chen Li said.

Although Chen Li was holding 25 billion yuan in his hand at this time and did not want to consume his financial reserves in such details, Nanhua Group must transfer this part of the equity, and Chen Li could not easily agree to allow the inexplicable third party to become the most important shareholder of Xinchaorui Real Estate in the two most important areas besides listed companies.

Xinchaorui Commercial has currently officially operated eight Xinchaorui City Squares and operated 19 Xinchao Hongji large commercial supermarkets. It reduced its holdings in Xinchaocheng before the New Year. At the beginning of the year, it acquired three shopping mall properties from Xinchaocheng. It currently operates more than 1.2 million square meters of shopping mall properties and holds more than 400,000 square meters of shopping malls. In 2007, the annual profit has reached 300 million yuan.

In 2007, due to the preparation costs and financial costs of the three new Xinchaorui City Squares, and the large amount of commercial property rental expenses, the annual profit was low. However, with the adjustment of assets this year, the payment of commercial rent will decrease by more than 140 million. Three new Xinchaorui City Squares have been added for a stable operation period. The annual profit is conservatively expected to increase to 600 million. The valuation of 5 billion on the day of the year is low.

After rapid expansion in 2006 and 2007, Xinchaorui Real Estate has completed preliminary layouts in four cities with the highest economic development in Pujiang, Beijing, Guangcheng, Chongqing, Chengdu, Wuhan and Dongjiang Province, with the total number of stores increased to 2,000.

2007 is a consolidation period after rapid expansion, resulting in a large amount of unnecessary redundant costs. However, even so, there is a contribution of 300 million yuan in annual net profit. In 2008, second-hand housing transactions are relatively sluggish, and annual net profit may shrink and will not increase.

However, Xinchaorui Real Estate has two thousand offline stores and the team of real estate agents has expanded to 20,000. In 2007, the transaction volume exceeded 120 billion yuan, and the deposit-specific account has maintained a total of 160 to 20 billion yuan in funds all year round.

Although it is impossible for Xinchaorui real estate to be managed at this time or the strict supervision of the national financial department, Xinchaorui cannot move this fund, but the initiative of each regional company to set up a special account in Xinchaorui, which is actually one of the bargaining chips that Xinchaorui can use.

Xinchaorui Real Estate's valuation is 4 billion at this time, which is also low.

Of course, Nanhua is eager to take off now, and the domestic economy is somewhat in a panic now. No one knows how much it will last. Chen Li has a huge amount of funds in his hands and cannot give them a higher valuation.

Xiang Qiuning felt embarrassed in this situation and had no nerve to mock Chen Li and He Wan for hiding here and having a passion for love.

*********************

The next day, several properties developed by Nanhua in Qingquan, Shangdu, Luocheng and Yinghe were all besieged by previous home buyers because of the sharp price reduction. The sales office of Nanhua Garden City in Qingquan was smashed and ruined, which became a big news that shocked the place.

Local media reported crazy like a chicken blood. The streets and alleys and local forums were full of gloating issues. On the one hand, it was gloating about the smashing of the Nanhua Sales Office, and on the other hand, it was gloating about the home buyers who had previously rushed to buy properties. But at the same time, there were also a large number of controversial voices. In short, it was extremely lively, which made the attention of the real estate market in Qingquan, Shangdu and other places attracted the attention of the real estate market developed by Nanhua.

This also caused a surge in the number of house viewers who flocked to the sales offices of Nanhua's subsidiaries in the following days.

The decline in housing prices has made investors and real estate speculators hesitate, and even wanted to sell the houses they had stored in their hands to cash in, which has led to a rise in the supply of second-hand houses on the market. However, for those who have children going to school, getting married and urgently needing to improve their housing, the decline in housing prices has prompted them to make up their minds to buy real estate.

In addition, the domestic securities market has fluctuated and downward since October last year, and a considerable number of people still chose to leave the stock market, which also caused some funds to be transferred from the securities market to the real estate market.

These factors make the current market worse, and the real estate market can still maintain a certain level of transaction volume. It depends on who can attract the sluggish home buyers.

The first sales office in Nanhua was smashed and started to hit the ground, successfully attracting the attention of people who still need to buy houses. The quality and location of properties such as Nanhua Garden City are indeed good, and the prices have been lowered below the cost line, so the attraction will naturally not be bad. After that, some developers woke up and wanted to imitate each other, but there would be no good results.

Qingquan's real estate market has entered May. Compared with the sluggish March and April, the transaction volume of new houses has rebounded significantly, but the increase in transaction volume has almost been eaten by a real estate project in Nanhua Garden City. Other developers can only watch and stare and worry.

Moreover, Nanhua's price cuts are too fierce. If other developers follow up on price cuts, it will cause a comprehensive loss to the newly built properties acquired in 2006 and 2007.

The Qingquan Municipal Party Committee and Municipal Government established a special working group to comprehensively rectify the private lending market. Zhang Weiren personally took charge, and Zhang Haoran also served as the director of the Private Lending Management Office. Within ten days, he interviewed the main lending financial intermediary institutions in Qingquan City. He took criminal measures without hesitation for debt-hiding intermediaries and enterprises who have received reports. He was responsible for financial companies and enterprises with large debts, and took measures such as restricting exits. He used high-pressure policies to reduce the scale of private fund-raising loans in Qingquan City and clear out the debts of small and medium-sized creditors to avoid uncontrollable group events.

Gao Junmeng finally acquired the acquisition conditions proposed by Gao Can, and transferred all the equity of Fengyuan Group to the industrial funds under Dashang Capital and Gao Junsheng, Gao Can and his father and daughter.

In addition, Gao Junmeng transferred his 20% stake in Fanglong Real Estate to Wanbang Real Estate for 600 million yuan to repay the additional 400 million raising loans he owed. His personal shareholding of Fanglong Real Estate was reduced to 20%, and his indirect shareholding of Wanbang Jialong was reduced to 8%.

At this time, Gao Junmeng, Fanglong Group, and Wanbang Real Estate jointly invested 1.2 billion yuan. Later, Fanglong Real Estate, Wanbang Dili, and Jiahe Industrial jointly invested 3 billion yuan in Wanbang Jialong. In addition, some of the funds raised by Wanbang Jialong during this period were returned to the 3.8 billion yuan owed 3.8 billion yuan in fundraising loans in late May.

The supporting facilities of Wanbang Jialong Riverside New City are not mature at all, and it is extremely difficult to sell prices. However, Jiangwan New City lowered the housing price to about 5,000, which still allowed Wanbang Jialong to collect more than one billion yuan in a month, but only sold the houses in Jiangwan New City at a cost price. Every time one sold, Fang Yixin and the others were bleeding in their hearts.

Before late May, the Qingquan Municipal Government also officially signed an understanding agreement with Wanbang Jialong to recover the construction land use rights granted to Wanbang Jialong Riverside New City Project to offset the 7 billion land owed by Wanjialong before. During the same period, the Qingquan Municipal Government also recovered more than 5,000 mu of construction land that had not paid for the land payment from the northwest wing new city, the south extension section and the east extension section of the main urban area. For some extremely difficult real estate companies, they also purchased some construction land that had paid the land payment but had not yet started to be developed.

Xinrui City negotiated eleven projects for acquisition and capital injection in Binjiang New District, injecting 5 billion yuan into real estate companies in Binjiang New District. As the funds flowed back to the banking system, Qingquan City Commercial Bank injected 5 billion yuan of low-interest loans into these eleven real estate projects, repaying the high-interest loans accumulated by more than 10 billion yuan in high-interest loans.

By the end of May, the scale of private fundraising loans in Qingquan City has effectively reduced to about 40 billion, almost returning to the level of around 2005. Everyone can finally breathe a little slow down.

Huatian Financial Investment Management Company controlled by Zhang Xiaotian and others was not enough to repay all the fundraising funds after receiving the 200 million loans paid by Wanbang Jialong. In late May, Chuangxing Technology issued new shares and resumed transactions through the China Securities Regulatory Commission's approval, and they had the opportunity to reduce their positions.

However, the securities market finally rebounded a little in April. In mid-May, it continued to fall sharply from around 3,600 points. By the end of May, even the price of Xinrui City fell to 15 yuan per share.

During the suspension of trading, Chuangxing Technology's market index fell by 30%. On the first day of Chuangxing Technology's resumption of trading, the expected large amount of funds for trading did not appear, and Chuangxing Technology's stock price was directly hit by a limit down. Although it did not directly hit the limit down the next day, it also fell by 8%. However, even so, it did not catch up with the market's decline. This was mainly supported by good news.

The city’s deadline for Huatian is in early June, and the fundraising funds must be fully paid off, otherwise the city will formally file a case for the crime of illegally absorbing public deposits and fraudulent fundraising to investigate Huatian’s problems.

Zhang Xiaotian and the others were forced to clear all Chuangxing Technology's stocks and reduced their holdings, and finally recovered only 130 million yuan of funds, which also lowered Chuangxing Technology's stock price by 40% compared with before the suspension.

In the end, the funds collected by Huatian were only enough to barely repay all the fundraising loans. Zhang Hua, Qi Hong and Zhang Xiaotian spent 70 to 80 million yuan over the years, and they were all spent in vain, and they had more than 20 million yuan in debts held by the two companies.

However, the heads of the two companies who owed them more than 20 million in debts, saw that something was wrong in early May, and they had escaped from Qingquan and were missing.

Although the city filed a case and seized the remaining assets of the two companies, it is still unknown how much it can be paid off in the end.

Although the city has taken a series of measures decisively, it is full of mud and sand. In April and May, there are still more than 60 loan agencies and individuals who escape from debt and flee. Private fundraising loans involving nearly 10 billion yuan have become a pile of bad debts, which requires the city to spend a longer time sorting out.

Sun Jianye was involved in the acceptance of bribes and other issues and was investigated by the Provincial Commission for Discipline Inspection. Zhang Haoran served as deputy secretary of the Qingquan Municipal Party Committee and acting mayor. Zhao Shunian served as deputy mayor and secretary of the Binjiang New District and Binjiang High-tech Industrial Park Working Committee...

Xinchaorui finally reached an agreement with Nanhua to acquire 20% of Xinchaorui Commercial and 10% of Xinchaorui Real Estate's equity. However, Chen Li did not use Xinchaorui's reserve funds, but established a special asset management trust fund under Dashang Capital. The senior management of the Xinchaorui system raised 400 million yuan, and then raised 1 billion yuan from Qingquan City Commercial Bank and Provincial Construction Bank at an annual interest rate of 8% to undertake this part of the equity.

South Huawei is recovering funds, and Xiang Qiang must firmly cut relations with Xinchaorui. This part of the equity chips can be said to be very cheap. Not to mention Chen Li, Qian Wanli, Hu Guoming, Zheng Wenyuan and others want to eat them. Even Xu Yuanzhou and Ding Yang came over, hoping to take over some of the shares. But in the end, Chen Li did the work of Tongqian Wanli and others, taking over this part of the shares by senior management who have made great contributions to Xinchaorui over the years. It can be regarded as their major shareholders, and their due feedback to everyone.
Chapter completed!