YM778.TV Chapter 539
Chapter 539: Resource Chamber of Commerce Meeting (Part Ten)
Translator: Atlas Studios Editor: Atlas Studios
August 22, 2014. The day after Sangle’s CEO, Hong Weiguo, was impeached. 8 AM in the morning, Tianjing City South Third Loop, the headquarters of a subsidiary under Sangle.
With a “Kuang” sound, seven or eight people barged into the office of the subsidiary company’s Chief Financial Officer. Two policemen rushed forward and held down the CFO, Wei Deshou. “Are you Wei Deshou? Someone has reported you for alleged drug abuse, corruption, bribery, and other crimes totaling 18 counts. Please come back with us for investigation.”
“I didn’t, you are accusing me! Lies!” CFO Wei was stunned for an instant. He struggled and said, “This is an injustice! I’m being maligned!”
Both policemen: “Nonsense. We won’t arrest anyone without evidence. Bring him away!”
Human Resources Department. “Yu Guangming, someone has reported you for taking drugs and accepting bribes. Please come back with us for investigation.”
Sales Department. “Teng Laifu, someone has reported you for **, keeping twelve mistresses, instigating juvenile delinquency, and other crimes totaling 12 counts. Please come back with us for investigation.”
In just one morning, all the managers of the Administrative Logistics Department, Planning Department, Channeling Department, Technical Department, General Management Office, Project Engineering Department, Audit Department, Quality Management Department, Investment Development Department, Production Research and Development Department, Purchasing Department, Customer Service Department, etc. of this subsidiary were all taken away, and there was no one left.
The performance of this subsidiary had always been bad. During Hong Weiguo’s acquisition, the subsidiary was bundled together for sale. Hong Weiguo had long wanted to cut off the restructuring, but he had no time to deal with it.
Now, Qian Guangzhou had settled his problem for him.
Subsequently, this subsidiary’s assets were frozen. The charge was tax evasion, and they came under investigation by the tax authorities.
More than forty large enterprises within the country had filed lawsuits against this subsidiary at the same time. There were lawsuits involving pornography, indictment, and infringement, as well as monopolizing—it didn’t matter if it was true or not. Lawsuits were filed.
Everyone was on tenterhooks.
The managers of this subsidiary were all taken away. The finances were frozen, and wages could not be paid to employees who barely got by. Everyone panicked. In just two hours, a large number of employees began to tender their resignations. The Human Resources manager was also arrested. Employees simply left the company—who would continue working without wages?
Hence, this subsidiary, with losses of fifty to sixty million a year, came to its end very simply.
Of course, this was just one of the subsidiary that made losses. The other subsidiaries were all handled in the same manner.
...
Tianhai Military District Headquarters.
“Old An, how are things on your end?” Things were ever-changing. No matter how careful the Bureau Chief was, he was still perturbed. “Hong Weiguo played well. Don’t mess things up. Don’t hold back on anything that needs to be checked or done.”
An Yangxu, who had always been carefree, said sneakily, “Absolutely no problem. I’ve studied these people last night. The most minor crime is soliciting prostitutes. Anyway, company executives from subsidiaries like this muddling along from day to day. When discussing business, it was common for them to patronize relaxation centers and nightclubs. Almost everyone is guilty of that. There won’t be any accidents.”
“This...” The Bureau Chief didn’t know whether to laugh or cry. “Alright, that will do. Speaking of which, where did you hear the term ‘big health care’ from?”
“From the interrogations.” An Yangxu laughed. “That’s a good term.”
...
Door to Heaven.
“Hahahaha! Good! Good job!” Qian Guangzhao looked at the progress report from Sun Yuanzhou’s assistant and laughed out loud. “Hong Weiguo ah, Hong Weiguo, so what if you’re a genius? Facing the encirclement from the Chamber of Commerce, how long can you hold on to your company? Ten days? Twenty days?”
Sun Yuanzhou’s assistant said, “CEO Qian, at present, the Chamber of Commerce’s methods are swift and fierce. Next...”
“No! It’s not enough!” Qian Guangzhao clenched his teeth and said, “Hong Weiguo is too strong. Although the Chamber of Commerce is very powerful, that will take too long. We can’t present Hong Weiguo with any chance. Hmm. Pass this message down, those that do well in this encirclement, we will treat them well when they do business with the Qian Family in the future!”
“Alright!”
When the assistant left, Qian Guangzhao took out his laptop to check the latest news.
For such a large company like Sangle, once the Chamber of Commerce encircled it, reporters from various media were sure to report it. Sangle’s stock prices would then drop drastically. By then, Hong Weiguo could only watch as Sangle’s assets shrunk as days went by!
“Aiya, that should have made the headlines today?” Qian Guangzhao laughed as he opened the website. Then, he became stunned.
Sangle was the headlines, indeed. But not as Qian Guangzhao had imagined. It was quite different from what he had imagined—
“Sangle Company announced that it has started a strategic restructuring with Turkey Company and Jianbao Plaza.”
“What? Sangle and Turkey Software, as well as Jianbao Plaza, are doing a strategic restructuring together?!” Qian Guangzhao clicked open the webpage and read from the start to the end. He slammed the laptop to the ground fiercely and yelled, “Good for you, Hong Weiguo! You’re good! Great! You actually thought of this! Giving the Mu Family and Liu Family 30% of the shares each! Damn you!”
After yelling some more, he suddenly realized something. “Mu Family and Liu Family own 30% each. According to Hong Weiguo’s character, he is sure to give another portion to the Hong Family. In that case, the portion that Hong Weiguo is holding on to...”
Thinking up to this point, Qian Guangzhao slapped himself twice. Then, he rushed off to look for Sun Yuanzhou immediately.
Once they met, Qian Guangzhao hurriedly asked, “CEO Sun, Hong Weiguo has reorganized Sangle’s assets...”
“I already know that.” Sun Yuanzhou sighed and spread his arms helplessly. “Mu Family and Liu Family own 30% each. The Hong Family owns 25%. That portion has been frozen. It’s now in the process of being transferred. As you know, the Mu Family and Liu Family are official members of our Chamber of Commerce. We cannot do anything to the assets under their name. The Hong Family owns one-quarter of the assets, and they are all fixed assets. Hong Family’s background is somewhat special, we can’t overdo it either.”
“This...” Qian Guangzhao was red and pale at the same time. He was furious, yet there was nothing he could do. After a while, Qian Guangzhao clenched his teeth and went to make other arrangements—even if it was minor, he would do what he could!
...
10 AM on 22nd, the news of the three internet giants, the Hong Family, Liu Family, and Mu Family spread like mad on the internet.
These three companies controlled almost 70% of the capital of the Internet. With their unification, all three companies’ stock prices rose insanely.
From 10 AM, Mu Family’s stock prices rose from 39.2 to 41.16. It was still steadily increasing! Next was Liu Yihui’s Turkey Software, the stock prices went from 38.5 to 40.425!
Within half an hour, Mu Family’s total assets went from 26 billion to 27.3 billion. Liu Yihui’s Turkey Software went from 24.2 billion to 25.4 billion! Once Sangle’s asset unfroze, the 60% given to them would grow as well!
Not only did Hong Weiguo’s beautiful move got rid of under-performing subsidiaries, but the rising of stock prices also earned him a few billion!
This was a classic move in the textbook for junk stocks in exchange for quality stocks!
1 PM in the afternoon, more news appeared on the internet!
“Ku Ge music, So Cool video-sharing website, and sixteen other internet companies have announced their collaboration with Sangle, Jianbao Plaza, and Turkey Software!”
As soon as the news was released, it shook the entire market economy! These internet giants would be working together. All the companies would profit and work together!
Countless stockholders began to buy the stocks of these internet giants. It didn’t take long for all the stocks of these dozens of online companies to reach their upper trading limits!
...
“Damn... damn it! Hong Weiguo, you are ruthless!” Qian Guangzhao held a new laptop in his hands and looked at each of the news regarding this earth-shaking news. He was so mad veins protruded on his face!
Qian Guangzhou wanted to get rid of Hong Weiguo because he was jealous! Jealous of his talent, jealous of his decisiveness! Hong Weiguo was better than him in everything, and in all aspects!
He was not willing to concede defeat! Definitely not!
Hence, he wanted to pull Hong Weiguo down at any cost! Otherwise, his scars would never heal!
He was in the final stages of victory, who would have thought that just by restructuring his assets, Hong Weiguo would jeopardize all his plans? He even assisted in removing those loss-making subsidiaries of Sangle! How could he tolerate this?
“Hong Weiguo, you better watch out!”
...
At the same time, Tianhai City, Li Jing Hotel.
“Money comes from danger, indeed!” Hong Weiguo looked at the news on his computer screen and laughed. “This time, the collaboration of our companies produced such good results.”
“Haha, Old Hong, you’re indeed feisty!” Liu Yihui laughed out loud. “Good! He has to concede defeat!”
“Hehe. According to our plans, it is almost time for Gong Zhiwen to look for Young Master Dali. Qian Guangzhao will look even worse then!”
Hong Weiguo smiled and nodded. “This rascal of mine, he is definitely more ruthless than me. I’m sure of that!”