Delegate the authority to Dong Xiaorou and let her make contact with the Island Nation's Great Wisdom and Far Ocean Fisheries Company. As for whether or not we can cooperate, that remains to be discussed in detail. It's not something that can be settled in a few words. There are many intricacies to consider, which will take time to ponder. It could take as long as a year or more, or as short as three to five months. If we can reach an agreement, that would be considered favorable.
"Happy Fish Balls" cannot simply wait for a response from the Great Wisdom and Far Ocean Fisheries Company. We need to figure out our own path forward.
Zhuge Meili received a call from Li Zhi, which was quite unexpected. She smiled and said, "Mr. Li, what a rare guest." What made you suddenly think of calling a young lady like me? "Is there something you need?"
Li Zhi responded with a simple "Hmm" and asked, "Do you have any information about the 'Bingxin Automobile Factory' in Haicheng?"
"Bingxin Automobile Factory?" Zhuge Meili paused for a moment and then said, "I've heard of it." It seems to have been restructured from the former Fourth Machinery Factory in Haicheng. "What do you want to do with it?"
"If I want to acquire this company, how much money would I need?" Li Zhi asked directly.
"Acquire Bingxin Automobile Factory?" Zhuge Meili said, "Wait a moment. I will check the information about Bingxin Automobile Factory and call you back in half an hour!" After speaking, she hung up the phone.
Li Zhi set his phone aside. In fact, he had already learned about Bingxin Automobile Factory in the past few days. It used to be the Fourth Machinery Factory in Haicheng, which was reorganized into Bingxin Automobile Factory in the year 2000. It no longer has the ability to independently produce cars. Li Zhi admired Bingxin Automobile Factory's expertise in producing, manufacturing, and researching cars, along with its 300-acre factory situated in the suburbs.
Bingxin Automobile Factory is under significant strain and is currently operating at reduced capacity. The workers in the factory are not even receiving their full wages.
Li Zhi doesn't have much money available at the moment. The estimated value of Bingxin Automobile Factory should be around 150 million, but the external debt is at least four to five billion. It is already insolvent. If it weren't for the Haicheng city government holding a thirty percent stake and nearly eight hundred employees in the factory, it would probably have gone bankrupt and been auctioned off long ago.
Approximately half an hour later, Zhuge Meili called back, puzzled, and asked, "Why did you suddenly think of acquiring Bingxin Automobile Factory?"
"Is there a problem?" Li Zhi asked with a smile.
Zhuge Meili affirmed, "Of course, there is a problem." Do you think you're the only intelligent person in Haicheng? The most valuable asset of Bingxin Automobile Factory is undoubtedly its land. Do you happen to know the amount of debt owed by Bingxin Automobile Factory? 8.9 billion. Even when considering the land value, Bingxin Automobile Factory is worth no more than 300 million at most, with debts of at least 5 billion. "It's not difficult to acquire it." "As long as you are willing to fully assume the debt of Bingxin Automobile Factory and take over the employees, you can purchase it for 3 million."
"3 million?" "That cheap?" Li Zhi muttered.
Zhuge Meili couldn't help but roll her eyes and said, "Are you naive?" In addition to the $6 million in cash, there is also the $8.9 billion debt of Bingxin Automobile Factory, along with the arrears of the workers' wages. "If you want to acquire Bingxin Machinery Factory, you need to come up with at least 9 billion dollars!"
Li Zhi thought for a moment and asked, "Do I need to repay all of Bingxin Automobile Factory's debt at once?"
"That's not necessary, but... do you have 9 billion to spare?" Even if you start from scratch, you could build a better factory than Bingxin Automobile Factory! Zhuge Meili said.
Li Zhi shrugged and said with a smile, "I don't have 9 billion, do I?" He only had a little over 20 million in cash, so he wanted to make the most of it.
"Do you really want to buy Bingxin Automobile Factory?" Zhuge Meili asked.
Li Zhi nodded and said, "Yes, why not?" It's just a debt of 9 billion. "I'll take it!" With a smile, he added, "How about coming to help me with public relations?" Rest assured, there will definitely be benefits for you if you stick with me!
Zhuge Meili fell silent for a moment before asking, "Tell me the truth, how much money do you really have?"
"20 million!" Li Zhi said with a smile.
"Taking on such a significant burden with such a voracious appetite, aren't you afraid of biting off more than you can chew?" Zhuge Meili teased.
"This year, the bold thrive while the timid starve." "Besides, if you assist me in acquiring Bingxin Automobile Factory, I am confident that I can turn it around!" Li Zhi said.
Zhuge Meili thought for a moment and said firmly, "Alright, I can help you with this matter, but I have one condition."
"Let's hear it!" Li Zhi didn't rush to agree, as this girl was quite cunning.
Zhuge Meili said seriously, "You have to be my cousin Dong Yingxue's boyfriend!"
"Ah!" Li Zhi was taken aback by the girl's words and said with a wry smile, "Are you out of your mind?" I've already told you that I'm not a good person, so why do you want to push your cousin into the fire? Let's change the condition!
"Hehe, no, this is it." If you're willing, I'll take care of the Bingxin Automobile Factory matter for you within a week. Zhuge Meili smiled cunningly and shook her head. Li Zhi had to agree to this condition.
Li Zhi smiled wryly and said, "Alright, if you're willing to push your cousin into my fire, why would I refuse?" But I have to say in advance, I'm quite fickle. "I have many other women, so your cousin must not get angry with me."
"No problem, as long as you agree." "As for your flaws, my cousin will help you correct them." Zhuge Meili said happily, "As usual, transfer 10 million in cash to my account first, and we'll settle the balance later."
Li Zhi agreed. He wasn't afraid of the other party running away with the money because he knew her cousin, Dong Yingxue. Even if she ran away, she wouldn't be able to escape.
Despite Bingxin Automobile Factory being heavily in debt, its mechanical equipment is still functional. By 2007 or 2008, it could still produce some cars, although the technology is severely outdated and would need to be revamped.
The factory area is also easily accessible. Once Bingxin Automobile Factory is acquired, Li Zhi can modify and reassemble the equipment to establish a semi-functional production line.
Buying a factory capable of producing cars for half a million dollars, even with poor technology, is still a good deal. There is definitely money to be made.
Throughout the week, Li Zhi was busy. While the money was in Zhuge Meili's hands, he needed to be the one to buy Bingxin Automobile Factory, not her.
During this week, he had to deal with the city government, the commercial bureau, the factory bureau, the tax bureau, the bank, and Bingxin Automobile Factory. It wasn't clear who Zhuge Meili had connections with, but acquiring Bingxin Automobile Factory didn't pose much of a problem.
Li Zhi assumed the nearly $8.9 billion debt of Bingxin Automobile Factory, purchased 30% of the shares from the Haicheng city government for a million dollars, and pledged not to terminate Bingxin Automobile Factory employees without valid reasons.
All debts must be repaid within five years. The first year requires a 5% repayment, the second year 20%, the third year 20%, the fourth year 20%, and the fifth year 35%. If there are arrears, the government has the right to reclaim ownership of Bingxin Automobile Factory.
Furthermore, Li Zhi must compensate the Bingxin Automobile Factory employees for the 400 million in unpaid wages accumulated over the last six years. Of course, it doesn't need to be paid all at once. The first year requires a 30% repayment, the second year requires 30%, and the third year requires the full amount.
Li Zhi agreed to all the conditions, and Zhuge Meili also fought for many rights and benefits for him, such as a three-year tax exemption and a 50% tax reduction for the following three years.
After completing all the formalities, Li Zhi effectively spent 3 million in cash to acquire Bingxin Automobile Factory, but he needed to repay the 8.9 billion debt within five years. If he couldn't fulfill the promise, the government had the right to take back the Bingxin Automobile Factory. He couldn't sell it to outsiders until the debt was repaid to prevent him from taking the money and running, leaving behind a worse mess.
The Bingxin Automobile Factory was also a source of trouble for the city. This time, Li Zhi had accomplished something significant, ensuring that the city's leaders would remember his name.