By late June, not only Guo Ting was the general manager, but the new wilderness reform plan with bus research and development and production as the core business was approved by the provincial government; with the efforts and promotion of many parties, the province also agreed to the "new establishment and reorganization" plan of Shenhuai. The Provincial State-owned Assets Dongjiang Real Estate Group was established as soon as possible, and Zhou Weimin served as the Party Secretary and Chairman, in order to receive and reorganize the provincial state-owned Assets Real Estate Development Business and related assets to achieve the purpose of clearing debts and strengthening development.

The real estate development companies under provincial groups with strong profitability are retained by the provincial steel, Huai Coal, Huai Guo, etc., in addition to Huabin Real Estate and Huayun Construction two provincial state-owned enterprises that mainly focus on residential development, there are also 19 collective housing, commercial housing, commercial and office building projects under construction belonging to other provincial enterprises.

After the establishment of Dongjiang Real Estate, in addition to the integration of assets and resources, the projects under construction need to continue to be constructed, the Provincial Textile Group immediately closed the printing and dyeing factory in Beitang District, and Dongjiang Real Estate took over the old factory, and was responsible for jointly preparing with Beitang District for the renovation of Huaxi Street old city and the construction of the second phase of Huaxi Market.

Huabin Real Estate and Huayun Construction are provincial state-owned enterprises with real estate development and construction as their core business. They have unique superior conditions for developing real estate development and construction business within the province.

However, these two companies have been in chaos for many years and have had a lot of joint ventures. The cooperative companies have absorbed benefits and counted hidden debts. They did not lose all their underwear. This is the result of the State-owned Enterprise Working Committee strengthening audits in recent years, and the top leaders of these two companies have fallen into the French Open one after another in the past two years.

These two companies have no advantageous resources to inject the newly established Dongjiang Real Estate; while other provincial enterprises will separate out the 19 real estate projects under construction, which is even more out of the idea of ​​taking the opportunity to get rid of the burden.

In the end, in addition to the under-construction projects with an area of ​​more than 500,000 square meters and a debt of 2 billion yuan, Dongjiang Real Estate Group received the most core and most troublesome resource, which is a mixed and mixed staff of nearly 2,000 people.

Collection of rights has never been easy, so restructuring and restructuring naturally requires first wiping your butt.

Even if the installed project under construction is completed and sold successfully, it will not be able to fill the debt of 2 billion yuan. Dongjiang Real Estate's net assets on the book are negative since its establishment.

Fortunately, the four major commercial banks, the four major commercial banks, the Industry Credit Bank, and Xucheng Urban Commercial Bank have strong confidence in the future growth of Dongjiang Real Estate, which has nearly 70% of the land replacement and development rights of old factories of provincial enterprises, and is willing to provide a total of 2 billion credit for the relocation, land replacement, project renewal, real estate development and other businesses led by Dongjiang Real Estate, which also shows that the provincial financial system has not supported the provincial state-owned enterprises in recent years.

Chen Huai and Zhou Weimin also bet the first shot of Dongjiang Real Estate's growth on the construction of the second phase of the Huaxi Market project.

After the printing and dyeing factory of the Provincial Textile Group was closed, the land was allocated to Dongjiang Real Estate for free, but the printing and dyeing factory covers an area of ​​only 130 mu.

In addition to four professional wholesale markets with a total area of ​​300,000 square meters, Huaxi Phase II will also build commercial supporting facilities including a logistics and transportation base, a tourist shopping plaza, a catering and leisure street and three commercial office buildings, with a total area of ​​600 acres.

In addition to the renovation of old cities and improving the surrounding areas in Huaxi Street, Beitang District, the entire project has not only closed the printing and dyeing factory and needs to be resettled, but also nearly 700 residents need to be demolished.

In order to demolish and free up construction land as soon as possible, Zhou Weimin decided to take out 700 residential buildings from the under-construction projects in Beitang District to resettle residents who need to be demolished due to old city renovation, Huaxi market and commercial supporting construction - this is also conducive to quickly digesting the under-construction residential projects taken over by Dongjiang Real Estate from other provincial enterprises.

In addition to the second phase of Huaxi Market, digesting nearly 20 projects under construction taken over by other provincial enterprises is also the top priority that Dongjiang Real Estate must do at the beginning of its establishment, and it is also the top priority to quickly digest nearly 2 billion debts borne by other provincial enterprises and alleviate its own financial pressure.

Most of these projects are residential communities and commercial office buildings developed and built by provincial enterprises using their high-quality land resources in the urban area to generate income and increase profits or solve the problem of improving cadre housing.

These projects are small and scattered in scale, lacking reasonable planning, design, and construction teams are of varying quality. It is a blessing that there will be no tofu projects.

Residential projects are easy to digest, and so many provincial enterprises have the urgent need to improve their housing; this time, those who were thrown into Dongjiang Real Estate were mostly those provincial enterprises that blindly launched their projects, and lacked financial resources to continue to build their projects halfway through development, which could not be digested in the short term, and there was a tendency to be unfinished, which tests the digestibility of the newly established Dongjiang Real Estate.

Chen Huai would not blame Zhou Weimin for everything.

In the past two decades, Hong Kong's industry has been sluggish, and the trade, service and real estate industries have been booming. A considerable number of Hong Kong investors are not very interested in the development of industry than Chinese businessmen in other Southeast Asia, but they have unique feelings for the real estate industry.

Although many projects of Pengyue Modern City are looking for partners to develop and build, Pengyue Modern City has a long construction cycle and it may take three to five years or even longer to mature. Some Hong Kong investors with good relationships with Hongji and Changqing Group have greater interest in small and medium-sized commercial properties in the urban area of ​​the community, which is more in line with their speculative tendencies.

Chen Huai had a little energy and took Song Hongjun to act as a salesperson and investment representative for Dongjiang Real Estate. By the end of September, Chen Huai successively introduced 600 million yuan in renewal and renovation funds in four office buildings in the form of a joint venture. While selling two buildings as a whole, Dongjiang Real Estate also brought back 300 million yuan in funds for the four office buildings.

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Dongshi Group took over the integration of passenger vehicle department, department personnel and production lines, and internal technical transformation and upgrading work continued until the end of July.

The reorganization of Zhongyuanye has nearly 4,000 sedans in stocks were digested by Dongshi Group. Although the "return" of these 4,000 sedans is relatively simple, Dongshi Group will not launch its first sedan model to the market until the end of July.

Dongshi Group had made sufficient preparations before, using its previous pickup truck sales channels and integrating Yuanye's previous car sales channels, and built more than 20 4S stores with dealers from all over the country before August, and had as many as 60 cooperative sales stores.

With full advertising, the price is lower than that of joint ventures of similar models, and the financial support strategy of cooperation with banks such as Yexin, Dongshi Group has been popular in the market when launching its first sedan.

By the end of September, Dongshi's first sedan had sold a total of 8,000 units, far exceeding Yuanye's previous year's car sales performance and exceeding outsiders' expectations for Dongshi Group; it also makes people more convinced that Liu Jizhou is the one who can do a good job in automobile projects in Huaihai Province.

The traditional advantage of Dongshi Group also sold more than 15,000 pickup trucks by the end of September, doubling from last year's basis.

In addition to the continued sharp increase in the automobile market this year, due to the injection of 1.2 billion yuan of funds and cooperative resources such as Yexin Bank, Liu Jizhou and Dongshi's teams have better space and space to play.

However, this is only a preliminary success for Dongshi Group. The integrated Dongshi Group production line has only 50,000 cars, 20,000 pickup trucks, and 20,000 Weike's annual production capacity, which cannot meet the market demand next year. Generally speaking, the ratio of production capacity of the automobile industry to actual production and sales volume must be controlled at around 2:1, which means that Dongshi Group's current production line production capacity needs to be further expanded, and new models, engine technology and production lines must be introduced...

The first thing to lack when introducing technology and expanding production is capital.

Neither the province nor the Panyuan Township Government nor the Liu Jizhou family have the ability to inject funds into Dongshi Group. In addition to bank loans and introducing new partners, the best channel is to reissue convertible bonds through Dongjiang Jinghua.

Dongjiang Jinghua was in a downturn in the first public issuance of convertible bonds. Except for Xucheng's enterprises, no investors are optimistic about equity investment in Dongshi Group, so the first batch of convertible bonds agreed to be a conversion price of less than 2 yuan per share.

As Dongshi Group's first car model is popular, Dongjiang Jinghua, which holds 40% of Dongshi Group's equity, is naturally optimistic about securities investors and investors. The stock price soared to 4 yuan. At this time, convertible bonds will be issued, and the conversion price will be twice as high as the previous time.

In addition, the funds obtained by Dongjiang Jinghua's issuance of convertible bonds will no longer expand its holdings in Dongshi Group at a low price converted from net assets, but will only lend it to Dongshi Group as ordinary corporate bonds for capacity expansion.

This has no further stimulation or greater value-added effect on Dongjiang Jinghua's stock price, which will naturally minimize investors' interest in subscribing to convertible bonds.

The interval between the two convertible bond issuances is so short that companies that participated in the convertible bond issuance for the first time were not enough even if they had the will. Including Pucheng Group, they were only willing to subscribe to some symbolically.

Creditors who subscribed to convertible bonds for the first time and shareholders of Dongjiang Jinghua have priority in subscription, but after creditors such as Shengguo Investment and Pucheng gave up subscription priority, the Meigang Group initially estimated that it could subscribe to 800 million Dongjiang Jinghua's convertible bonds this time.

Although the conversion price is twice as high as the first time, it also ensures that no one can compete with Meigang for the controlling stake in Dongjiang Jinghua in the future.

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After Guo Ting took over, the sales of the bus business mainly deals with passenger transport companies in various places. Moreover, there is no mature team that Dongshi Auto Factory has trained for ten years to promote all aspects of work to immediately enter a healthy state. Many work needs to be reshaped, so naturally there is no way to show explosive growth, and the improvements are difficult to be noticed by the outside world in a short period of time.

However, the hot sales of Dongshi Group's first sedan have put Yuanye's restructuring and restructuring work on the halo, and no one will question Xinyuanye's slow growth without any ignorance. Besides, Guo Ting's entry into Xinyuanye was three months later than Liu Jizhou's car department that integrated Yuanye, and everyone has become more patient here.

During the entire summer and early autumn, Chenhuai focused on establishing an electrical group with power stations and power transmission and distribution equipment manufacturing as its core business.

Due to the rapid development of the power industry in Huaihai Province, future growth is expected, both the Power Group, the Instrument and Electrical Corporation, they are profitable in related facilities manufacturing business.

It is easy to reorganize a burden-breaking reorganization, but it is even more painful, more difficult, and more violent to ask these departments to give up their profitable core businesses than cutting their losses.

From the moment the idea of ​​establishing an electrical group was unveiled, the province caused a lot of controversy.

The final plan was to establish Huaihai Electric Group Co., Ltd., mainly initiators of Provincial Instrument and Electrical Corporation, and Electrical Corporation, and Electrical Corporation, to inject 3 billion businesses and assets related to power equipment manufacturing into 60% of the shares; Dongjiang Electric and Huaien Group injected a total of 2 billion funds, holding 40% of the shares, and also accepted related businesses and debts divested by provincial enterprises such as Provincial First Machinery Corporation.

Under Shen Huai's insistence, Hu Hongwei, deputy secretary of the Party Committee and deputy general manager of the Mechanical and Electrical Corporation, was able to serve as chairman and general manager of Huaihai Electric.

Chen Huai supports Hu Hongwei in charge of Huaihai Electric, not only because he is an alumnus of his younger sister-in-law Song Wenhui, but more importantly, the Huaihai Bay power industry has developed greatly in recent years. Hu Hongwei is the core figure who seized this opportunity and promoted the development of the China Mechanical and Electrical Corporation toward the direction of power equipment manufacturing. While maintaining a harmonious relationship with Meigang and Huaineng, the China Mechanical and Electrical Corporation developed under the leadership of Hu Hongwei. This time, the business and assets of Huaihai Electric were injected into the largest number of personnel.

Although Huaihai Electric, which was finally established, has a net asset of 5 billion yuan, has 16 branches and 16 large and medium-sized manufacturing plants, it also covers most of the products in the power station and transmission and distribution equipment industry. The power supply instrumentation research institute it has also had quite strong scientific research strength, and its scale and competitiveness alone are still far from being as good as those of first-class power equipment manufacturers at home and abroad.

After the establishment of Huaihai Electric, the work that Chen Huai directly participated was to promote the construction of the power equipment industrial park with Huaihai Electric as the main body to cooperate with Qinjiang District to the west of the Qinjiang District International Industrial Park. Before Huaihai Electric was officially established, Chen Huai began to find overseas power equipment manufacturers to introduce technology and expand production and other aspects.

Whether it is Huaineng, Dongjiang Power's previous contacts, overseas power equipment manufacturers with business dealings, or the huge market demand for Huaineng and Dongjiang Power's region behind Huaineng and Dongjiang Power's East Transportation, Huaineng and Huaineng have a strong desire to cooperate closely with Huaineng and Huaineng and Huaineng Electric, which has more clear development of the newly established core business, more technical, capital, human resources, and more advantageous Huaineng.

In early October, while laying the foundation of the power equipment industrial park, Huaihai Electric had four large power equipment and cable joint ventures in the industrial park, adding 300 million US dollars of new investment attraction results to Huaihai Province and Xucheng City.
Chapter completed!