Chapter 786 Another City

   "What conditions did he offer? As long as it is not too excessive, he can be satisfied."

  Xia Jingxing replied with a calm face that the current white electronics brand matrix of Fuxing Industry Holding Group has been initially constructed, but he has always wanted to win a black electronics brand.

  Because the TV is an essential part of the smart home strategy.

  The black power industry started ten years ago and experienced several rounds of color TV price wars initiated by Changhong. Although it has successfully expelled foreign color TVs, its domestic counterparts are almost dead.

   Entering today, only a few brands such as Konka, Hisense, TCL, and Skyworth are left in the market. The rest are either acquired by mergers or become a fleeting wave in the wave of the times.

In fact, he wanted to acquire Changhong, the former king of color TVs. After all, he has a glorious history and the brand value has not been completely lost. At the same time, he is still a hometown enterprise. I hope that one day he can see this gradual decline in the brand and renew its brilliance. Light.

  Changhong’s 2004 financial report released last year showed a huge loss of nearly RMB 3.7 billion, which was the largest loss for a listed company in the history of the Chinese stock market.

  Even so, Changhong is still very arrogant. From the previous refusal of the Fuxing Industry Holding Group to purchase Meiling refrigerators at a high price, it can be seen that Changhong feels that it is still rescued and is actively deploying in the **** field.

   Therefore, it is basically impossible for him to acquire Changhong. The resistance is too great, and the internal burden is quite serious.

After excluding Changhong, there are not many M&A targets for him to choose.

  Only Skyworth whose boss is in prison is most likely to be taken advantage of by him.

   "Although Mr. Huang is now behind bars, he still pays attention to the business dynamics of the outside world."

  Li Ying's face was fair and delicate, and her **** eyes stared at Xia Jingxing.

  After a while, the corners of her mouth rose slightly, her rose-like lips lightly opened, and she smiled and said, “Mr. Huang hopes that we will pay him half of the cash and the other half of the purchase price. He wants to replace it with the shares of Fuxing Industrial Holdings.”

  Xia Jingxing felt a little surprised, and asked with a smile: "Fuxing Industry Holdings is currently a semi-finished company with only a skeleton, does he like it?"

Li Ying raised her slender swan neck, her eyes rolled up, and she looked at the ceiling, with a hint of admiration in her tone: "I have actually said before. He has been paying attention to changes in the outside world, especially in the home appliance industry, in prison. You won the handwriting of Kelong and Little Swan in a flash, and you are quite full of praise."

  Xia Jingxing smiled and said nothing.

  Huang Hongsheng is actually a great person, and he is collectively known as the "Three Musketeers of South China Polytechnic" with Konka Chen Weirong and TCL Li Dongsheng, because they are all students in a certain class of the school's 78-level radio department.

  There are three color TV bosses in a class, which is really awesome.

  In November 2004, Huang Hongsheng was arrested during an operation of the Hong Kong Independent Commission Against Corruption's "Tiger Mountain Tour".

  The reason for his imprisonment was that his brother and mother had stolen more than 50 million Hong Kong dollars from a listed company in a few years.

  The money was taken by Huang Hongsheng with his left hand to his right to develop real estate in Qiong Province.

The    case was officially sentenced in Hong Kong a few months ago, and Huang Hongsheng and his brother were sentenced to six years in prison.

  Huang Hongsheng feels that he has been wronged. Friends who are listed on A-shares all play this way. The listed company is a major shareholder. Is the cash machine wrong?

  However, Hong Kong's securities market laws and regulations need to be improved a lot, and Huang Hongsheng was caught again with conclusive evidence. It is impossible for the mainland to punish a "500,000 maximum penalty, banned from entering the securities market for ten years".

   Fortunately, Huang Hongsheng formed a team of professional managers in advance, so after his founder and major shareholder went to prison, Skyworth did not suddenly collapse.

  However, in the long run, Xia Jingxing guessed that Huang Hongsheng was still extremely nervous in prison. After all, he would have to stay there for six years. Who knows if the company will have any major problems during this period.

   And they caught Huang Hongsheng’s psychology and offered Huang boss a good buyout price, so that he would have the capital to make a comeback after he was released from prison.

  Li Ying continued: “I asked Mr. Huang, why don’t you take all the cash, it’s safer after all.

  He told me that he has confidence in you and feels that you are a great person. To achieve such an achievement at this age, there must be something extraordinary.

  He is betting on you for the hope of the second half of his life. "

  Xia Jingxing said with a smile: “I think he is optimistic about the future development dividends of the home appliance industry, not just me.

  After the Fuxing Industrial Group took over Skyworth, we now have four listed home appliance companies in our hands, with businesses spanning kitchen appliances, small home appliances, ice washers, televisions and many other fields.

  Looking at the whole of China, we are enough to be among the first echelon of the home appliance industry and have the strength to compete for the crown that countless home appliances people desire. "

   "That's right, but we also need to integrate our home appliance assets well. Boss Huang chose to bet on Fuxing Industrial Group. In fact, it takes a certain amount of courage and courage."

  Xia Jingxing nodded, "That's true! Now, I am not optimistic about my voice in all directions in the country. I am deeply moved by Boss Huang's ability to recognize heroes.

  Many people outside the prison, but no one has a good view of people in the prison. "

  Li Ying smiled, and could not comment on Xia Jingxing's pretense.

  She continued to ask: "Then do we agree to his terms?"

   "Agree! Why not agree? It is just right to save some acquisition funds. Recently, it is true that the capital turnover is tight."

  Xia Jingxing did not evade and confided the truth to Li Ying. In fact, the latter knew in his heart that the company’s main funds are currently in US stocks and A-shares.

  The funds for the acquisition of these home appliance companies all came from borrowing from mobile phone companies and pledges of Penguin’s stock.

   "Oh, by the way, President Huang also made a request. Note that it is a request, not a condition. He hopes that we will remain part of the management team."

Li Ying expressed emotion, "He is still full of gratitude to Skyworth's professional manager team, because those people saved his half-life family business for him, and he hopes to find a good home for his brothers. "

  Xia Jingxing did not reply immediately, but he pondered. In the recently acquired companies, he did not make a big change to the management, but mixed sand into it, because the real integration work has not yet begun, and these people need to maintain a temporary stable situation.

  He never wears colored glasses to look at the management team left by the former major shareholder, because here, ability is the most important evaluation criterion.

  As for loyalty, professional managers of modern companies do not have these standards and requirements, not to mention that several companies are listed public companies, and the major shareholder is only one of the shareholders.

  The major shareholders of several acquired home appliance companies have all been swept out. As long as there is no problem in their minds, professional managers should all understand the situation and who should be approached.

  With the beginning of the integration work, the Fuxing Industry Holding Group’s control over the four listed companies will be further strengthened, and at the same time it will formally move the knife to clean up and introduce some senior executives.

  Huang Hongsheng has been in jail for more than a year, and Skyworth’s management is still very strong and stabilized amidst the uproar of public opinion against Yingtian.

  In the past life until Huang Hongsheng was released from prison, Skyworth did not encounter the incident that happened to another boss, Huang, who almost occupied the magpie’s nest. At the same time, Skyworth was also moving forward steadily without too much left behind.

  It can be seen that the management is also a person with ability and professional ethics.

  "You tell him that our company pays attention to those who are capable and those who are mediocre, and everything depends on ability to speak."

  Li Ying frowned, "Will it be a bit too stiff?"

  Xia Jingxing waved his hand, “If you don’t change a word, you can bring the original words to Mr. Huang. He is a wise man and understands.”

   "Well then!" Li Ying nodded heavily.

  (End of this chapter)