Only after being reborn did I realize how fascinating the world of the rich is.

Seeing that Cao Jinpeng was not bidding further, and that his years of careful planning were about to be ruined, Director Feng really lost his temper. He didn't care about anything else, picked up a bidding paddle, and shouted loudly, "I bid 20 million!"

Li Xiaofeng smiled slightly, looked at Hou Guowei, and said in a calm tone, "Director Hou, why is Factory Director Feng personally involved? Did he pay the deposit?"

Deputy Factory Director Xu, who was in charge of the auction, frowned slightly and said to Factory Director Feng, "Old Feng, are you crazy? What are you trying to do? I know you have feelings for this factory, but don't mess up the auction!"

Hou Guowei also stood up, waved to the two security guards next to him, and shouted in a serious tone: "What are you all standing there for? Take your factory director Feng away."

Don't let him ruin the auction. Your factory has already failed once in the bidding; do you want to fail again? If no one wants it, your factory will go bankrupt, and you'll all lose your jobs!

"There's something fishy going on here. This auction is rigged. I don't recognize this auction. This factory is mine; it's the culmination of my life's work. I can't hand it over to someone else!"

Hou Guowei frowned slightly, looking at Factory Director Feng struggling in front of the two security guards, and asked loudly, "You said there was something fishy about this auction, then tell everyone, what exactly is the fishy thing?"

Factory Director Feng was stunned for a moment. He couldn't very well admit that he had colluded with outsiders to falsify accounts, deliberately lowered asset prices, and listed many non-bad debts as bad debts in order to seize the factory for himself!

After thinking for a moment, he stammered, "The auction price was so high last time, why is it so low this time? It must be that the guy surnamed Li colluded with a lot of people to deliberately not bid high, so that they can split the spoils after buying the factory!"

Li Xiaofeng sneered and said in a nonchalant tone, "Director Feng, you need evidence to support your claims. You spoke ill of me in public, which is defamation. I can call the police to arrest you."

Besides, our Hongxing Electric Vehicle Factory only has net assets of 50 million. After buying out seniority and welfare housing, the net assets are basically zero. What am I supposed to use to distribute the spoils? My own money to others?

"This is just asset value. Hongxing is an old factory. What about the brand value it has accumulated over the years? What about the value of its sales channels? What about the value of its supplier channels? Why don't you include these?"

Factory Director Feng truly lives up to his reputation as a veteran in the manufacturing industry; he has an uncanny grasp of the ins and outs of manufacturing.

However, Li Xiaofeng was not one to be trifled with. He sneered and questioned, "If that's the case, why didn't you indicate these values ​​in the auction description?"

In addition, most of the people present at the auction understood these principles to some extent; otherwise, they wouldn't have come to participate in the bidding and purchase a company with zero asset value.

The problem is, who can come up with hundreds of millions of dollars to revitalize this company? If this company can't survive, all that intangible value you're talking about is just bullshit!

You said the bid was high at the last auction, but Mr. Qin, who bid the highest, went back on his word and preferred to forgo the five million deposit rather than take over the company.

I think everyone should calm down, carefully calculate the pros and cons, and then come up with a realistic price. Director Hou, am I right?

Hou Guowei nodded.

Li Xiaofeng glanced around the auction site and continued confidently, "Those of you who came to bid today, please don't have any illusions about finding a bargain. The factory doesn't have much working capital left."

Whoever takes over this factory will first have to pay around 50 million yuan in buyout funds, and then they will have to come up with tens of millions more to pay off part of the suppliers' payments and bank loans.

In addition, the factory's production equipment also needs to be replaced or added. Furthermore, the working capital required to revitalize the factory is also needed. Even if the purchase price is only one dollar, just starting up the factory will require about one or two hundred million dollars!

The reason I came back today to offer a price is twofold: firstly, I grew up in this factory and have an emotional attachment to it; secondly, I promised Director Hou that I would come here to guarantee the factory's minimum price.

If any of you think there's something fishy going on in this auction, or that there are any bargains to be had, then feel free to bid. If anyone adds another million, I will withdraw from the bidding.

Some of you may recognize me. I'm the chairman of Wanzhong Media, a company listed on NASDAQ. I have plenty of profitable businesses to do; there's no need for me to work so hard in manufacturing.

Hearing Li Xiaofeng say this, everyone started whispering among themselves, mostly discussing what he had just said. They thought Li Xiaofeng made sense and were glad they hadn't taken over the factory, otherwise they might have lost five million.

Seeing the situation before him, Director Feng disregarded his pride and shouted, "Such a low price is absolutely unacceptable! This is a loss of state-owned assets! I hereby declare this auction void!"

Li Xiaofeng turned his gaze to Hou Guowei and said in a very displeased tone, "Director Hou, how can such a serious auction be so easily canceled?"

If we breach the contract, our deposit will be forfeited. But if you breach the contract, shouldn't you return double my deposit?

Furthermore, if I successfully revitalize this company, will you simply retract it with a single, casual remark?

Hou Guowei quickly said, "President Li, please don't misunderstand. We didn't mean that. Director Feng just has an emotional attachment to this factory and is reluctant to part with it. This auction is absolutely fair and valid!"

"Director Hou, since Director Feng is so attached to this factory, he should manage it well and not let it get to this point."

"Where were you all before? Now you're pulling this stunt on us. I even promised to save this factory, and now you're so fickle, who would dare take over this factory!"

Hou Guowei was indeed a responsible person. Seeing that things were getting out of control, he said to Director Feng in a serious tone, "Director Feng, the auction of this factory was decided by a collective vote of your leadership team and with the consent of the workers' congress."

This auction was decided only after strict review by relevant departments. Don't think that just because you're the factory manager you can cause trouble here. Security, take your factory manager to his office to calm down!

After saying that, he winked at his secretary, who immediately understood his meaning. The secretary then gathered a few more factory cadres and together they pulled Director Feng out of the auction site.

Seeing that Factory Director Feng had been dragged away, Hou Guowei stood on the stage and loudly announced, "I hereby declare that this auction was fair, just, and valid. Let's continue. I hope everyone will participate enthusiastically!"