Starting out as a drug dealer in 1988

One morning three days later, the sun shone through the clouds, bringing a touch of warmth and brightness to the city.

On this quiet morning, important figures such as Chen Weiye and Li Hongmei once again gathered in the conference room of Hengyuan Electronics. They looked serious and the atmosphere was tense and depressing.

Zhao Wenhao sat at the head of the conference table, supporting his head with one hand and tapping the table lightly with the fingers of the other hand. His brows were slightly furrowed, and his eyes revealed a hint of irritation and anxiety.

These past few days have not been easy for him. Not only did Executive Vice Governor Zhou Xian call again to inquire about the progress, but even the governor also asked about the matter intentionally or unintentionally.

Obviously, the province is dissatisfied with the delay in this matter and hopes that it can be resolved as soon as possible, which undoubtedly adds huge pressure to Zhao Wenhao.

After a moment of silence, Zhao Wenhao broke the silence: "What's the situation over there?"

Everyone looked at each other, no one seemed willing to be the first to speak. At this time, Li Hongmei stepped forward, took a deep breath, and slowly said, "Let me speak first."

"According to our department's property audit of the provincial TV factory, their revenue so far last year was 2248 million yuan, and their revenue as of this month this year was 1139 million yuan.

However, last year's gross profit was negative 353 million, and only 10 months have passed this year, and this year's gross profit is negative 162 million.

To put it bluntly, the more they sell, the greater the losses they suffer.

This is just gross profit, but it is already negative.

That is to say, for every TV set produced by their factory, they will lose at least 13%.

In addition, here are the factory's receivables, payables, and monthly expenses excluding materials. Please review this list."

Li Hongmei distributed a thick stack of materials to everyone, and then continued: "According to our statistics, their current asset assessment is 3236 million, and their total liabilities are 4875 million.

On paper, it seems that there is only about 1600 million in negative assets, but in actual operation, it is definitely more than that.

For example, if the existing equipment really needs to be disposed of, the price must be at least 40% off or even lower.

Calculated in this way, his actual negative assets must be more than 2400 million."

Everyone picked up the documents and began to look through them. The conference room became quiet for a moment, with only the sound of flipping papers being heard.

Everyone frowned, looked at the data and reports in their hands with serious expressions, and thought secretly in their hearts.

After a while, Zhao Wenhao slowly closed the document in his hand and took a deep breath.

He thought to himself, "Just as expected!"

While his thoughts were racing, Li Hongmei, who was sitting next to him, had already completed a detailed introduction to the financial situation.

Immediately afterwards, Yuan Bin on the other side also spoke.

“Currently, the Provincial TV Factory has a total of 1158 employees, including 232 middle-level and above leaders;

In addition, there are 758 retired employees.

Here, I must emphasize an important issue. If we were to bear the pension and medical expenses of these 758 retirees, the annual funding required would be as high as 230 million yuan.

Moreover, among these 1158 employees, there are many who are just slacking off. They just punch in on time to collect their wages, but do not actually put in any real work.

Most of these people were forced into the factory through various connections.

According to my preliminary estimate, there are about 120 such people.

Therefore, I would like to make my point clear again: I firmly oppose this acquisition.

Because doing so would place a heavy burden on our company.”

Zhao Wenhao knew that Yuan Bin’s opinion was actually very pertinent. If possible, he did not want to take over such a mess.

However, now that the province has placed such a heavy burden on him, he has a lot of grievances to share.

"Director Chen, tell me what you think." Zhao Wenhao pointed at Chen Weiye.

"I understand their opinions." Chen Weiye sighed softly and said with a firm look in his eyes, "However, I only consider it from a technical perspective.

In the first half of last year, we began researching and developing televisions, with the ultimate goal being LCD TVs.

It’s just that our foundation in this area is weak, and it’s unrealistic to achieve success overnight. We can only start from the most basic direction.

The Provincial TV Factory has exactly the infrastructure we need, and can save us at least a year or even two years. That’s the first point.”

He paused, then continued, "Secondly, they are not completely useless, and some of their techniques still have certain merits.

In terms of lines, interfaces and sensors, the level is still quite good.

Even for cathode ray tubes, they have certain technical reserves.

It’s just that the lack of funds to continue investing in research and development has led to a standstill.

If we can take over and continue to invest money and personnel in these areas, I believe that there will be no problem in us producing the color TVs that are in demand in the market.

The third point is talent. I have been communicating with their technicians over the past two days, or testing them.

I found that most of them have very good technical skills. There is no phenomenon of unqualified people filling in the gaps.”

Chen Weiye did not consider other issues too much, but only discussed this matter from a technical level.

After all, this factory has a history of more than ten years and can be said to be an old factory, so it must have certain technical reserves and talent reserves.

Zhao Wenhao felt that this was beyond doubt.

However, after hearing Chen Weiye's introduction to the provincial television factory, Zhao Wenhao felt a little headache.

If it were said that the Provincial Television Factory had no merits at all, then Zhao Wenhao might feel more at ease.

This way, he could explain the situation directly to Zhou Xian, and he believed they would understand.

But the problem now is that the provincial television factory is not completely useless. On the contrary, it has some desirable features, which makes the situation complicated and difficult to handle.

So, Zhao Wenhao decided to put aside other issues for the time being and instead ask Li Hongmei about the specific situation of the provincial television factory.

"Director Li, how big is the total area of ​​their factory?" Zhao Wenhao asked.

Li Hongmei quickly looked up the relevant information and replied, "The entire factory covers approximately 217 mu (approximately acres) and includes two production workshops, four dormitory buildings, an office building, and a large cafeteria. These are the main buildings."

"Are those buildings still of any use?" Zhao Wenhao asked again.

Li Hongmei didn't quite understand what Zhao Wenhao meant and could only look at him in confusion.

"Tell me about the specific conditions of those buildings?" Zhao Wenhao explained. "If this area becomes vacant, can the existing buildings be rented out?"

"Of course there is no problem with that. We can even rent it out as a whole if someone is willing." Li Hongmei nodded and gave an affirmative answer.