This time, Yang Xing ate so much spot gold in the international gold market, and even the international gold price rose a lot in a short period of time. It took more than a month to deposit most of it into the underground vault of Sky Star City. Unexpectedly, he not only did not hide it and regarded it as a treasure, but instead took it out and displayed it openly.

Hong Kong people have inherited the tradition of Chinese people's love of gold jewelry. They are one of the world's major gold markets. There has always been a saying that there are more gold shops than rice shops, and they like to show off with gold as a gimmick. In 2001, a Hong Kong gold shop used pure gold to create a luxurious toilet. The pure gold toilet inside even topped the Guinness World Record, becoming a new themed attraction in Hong Kong.

With this good example, Yang Xing appeared to have put the vault into the new visitor of Sky Star City with a big stroke. Sure enough, after getting the news, many tourists visiting Sky Star City lined up in front of the underground vault. At the opening ceremony of Sky Star City, many guests were invited to visit the huge underground building more than ten stories high underground building underground, which was amazing for its huge scale and various defense measures.

Originally, the outside world speculated that it was the core of Zhongxing Capital, including the storage of confidential information on Zhongxing Capital, or the establishment of highly confidential R&D institutions, as well as the group network and data center, and there may also be a bank vault, some banknotes and jewelry. Unexpectedly, gold with a market value of US$30 billion is still deposited. At this time, the price comparison is more than 200 tons of gold bricks, which is enough to build a gold brick house!

You should know that the best scene in the 1995 global blockbuster "Die Hard 3" was to rob the New York vault in the United States. In which the standard gold bricks stored in the New York vault left a deep impression on the audience. But that was just the plot of the movie. Now tourists see with their own eyes the underground vault of Sky Star City, which is more than ten meters thick than the New York vault, and the extremely strong pure steel column gates and other protective measures. With the shining gold bricks under the bright light, no one can help but be dazzled.

Sky Star City took advantage of the opportunity to launch the Youqianku. The activity of purchasing gold bricks ranged from one to one standard size, priced at tens of thousands of dollars to mini-weights of only more than 100 grams and worth a few thousand gold bars. It was guaranteed by gold bricks piled up like hills behind me to ensure that the goods were genuine and unrestrained. As a result, just three months after the opening, the gold products and gold jewelry sold alone made the company smile. I have to admire the boss's masterpiece.

But in the eyes of business tycoons, everyone has long agreed that as long as Yang Xing is not really crazy, his words and deeds are very meaningful. Many of his arrogant actions at the time now seem to be commercial cases that are enough to make classic textbooks. Not many people believe that Yang Xing bought 30 billion US dollars of gold bricks as soon as he woke up and only did tourism exhibitions. That is the standard gold bricks used for interbank exchange in London weighing more than 16,000 yuan, each weighing 400 ounces (12.5 kilograms), totaling more than 200 tons. Just transportation, storage, and security costs are expensive every day. Yang Xing can even squeeze oil out of the stone. Will he just burn money to use gold bricks to play with it?

Sure enough, Yang Xing announced another move to shock the market. He announced that he would join forces with a group of strategic investors in his personal name to use nearly 100 billion US dollars in his hand to privatize listed companies under the control of Zhongxing Capital, except for Nebula Electronics, Xingchen Manufacturing and Xingwei Resources. He also implemented asset divestiture and reorganization of many other businesses under the "Ten Fronts Destroy" and launched a number of new subsidiaries to participate in the initial public offering (IPO). This retreat and advance two major moves really shocked the entire market.

Leveraged buyout (lbo) refers to the financial means in which a company or individual uses its own assets as collateral for debt, acquires another company or implements privatization of listed companies. The biggest feature is that during the acquisition process, the acquirer adopts large-scale financing and lending methods to pay most of the transaction fees in order to achieve his goal due to insufficient capital, and uses the target company's assets and future income as collateral for lending. The lending interest will be paid through the future cash flow of the acquired company, and the cash expenses of the acquirer will be reduced to a minimum.

To put it bluntly, it means using the acquired company as collateral to acquire the other party. Generally, only professional financial companies can play with this difficult method. Usually, after they achieve the acquisition goal at the minimum cost, they will divest the company's high-quality assets and quickly withdraw after completing the IPo. As for the long-term development of the acquired company, they do not care about the hedge funds and investment banks engaged in this kind of investment, calling them "vultures", describing them as "vultures", describing them not to lend a helping hand to companies in trouble and dying, but to greedly share their bodies. However, despite the cruel and cruel methods, in the Western business community, this type of "vultures" have only looked at the purpose, regardless of the process, in the atmosphere of the process, this type of "vultures" have rapidly grown into a force that cannot be ignored in the financial field.

However, Yang Xing took the initiative to adopt leverage acquisition and privatization of his "all parties" this time, which really made the business world confused. Compared with the benefits brought by IPO, the privatization in the opposite direction does give people a feeling of being reversed. Only those who know the truth and reality understand that Yang Xing is facing the risk of his own company being acquired. In addition to using the "poison pill plan", if the listed company is successfully privatized, the malicious acquirer may be in vain.

Thinking of his quiet selling of Xingfu investment assets and shares before, his enemy had to admit a reality, that is, Yang Xing was injured and bedridden, and his brain, which always had new ideas, seemed to have not been affected by assassination at all, so he came up with this trick to get rid of the fire. As expected, this guy who made great profits in the Asian financial crisis and the bursting of the Internet bubble is best at financial means!

In June 2005, Yang Xing and Jack Welch attended a press conference in Sky Star City, breaking the rumors that many people speculated that Welch was losing power. Yang Xing said without any concealment that his iPo goal was to raise enough funds, one was to expand the pace of corporate expansion and try to occupy the market. Secondly, the headquarters adjusted the group's business, divested non-core businesses, introduced investors, and drove the development of related companies. Many midstream and downstream enterprises in the Zhongxing industrial chain can take this opportunity to obtain equity in upstream enterprises, and even if they cannot become major shareholders, they can join Zhongxing to participate in the company's policy formulation.

Of course, the main thing is to raise money for the group to privatize listed companies. The so-called privatization refers to buying back the stocks in the hands of the public, that is, the acquisition activity initiated by the major shareholder of the listed company as the acquirer. The purpose is to buy back all the shares in the hands of the small shareholder and turn them into the private company of the major shareholder himself. After buying back, the company's qualification for listing is revoked. This seems to be contrary to the traditional concept of the past that a sign of the company's growth and strength is that it can go public and raise funds, and it is suspected of being reversed, but Yang Xing explained the reason why he did this.

In fact, for companies, even if listing can expand the company's reputation, raise funds, and become a public company, it will lose a lot of "freedom". For example, from the perspective of company decision-making efficiency, in the organizational form of non-listed companies, the decision-making process can be more efficient. Important new plans do not require too detailed research, nor do they need to report to the board of directors, and can take action more quickly. This is crucial for plans that need to be implemented quickly.

In addition, public holding companies must disclose detailed information, and competitors may obtain important and competition-related information from it. The main reason why Zhongxing Group faces malicious acquisitions this time is that its equity is dispersed, and it can find loopholes in the regular public statements and information of listed companies to launch a counterattack. If it is a privatized company, it will not be so easy to buy stocks on the stock market and understand insider information.

Yang Xing's move fundamentally broke the foundation of malicious acquisitions. Once his privatization is successful, it will be very difficult for his opponent to reach out. He can only negotiate the acquisition with a few major shareholders. Compared to dealing with thousands of shareholders and small and medium shareholders in the open stock market, Yang Xing, as the largest shareholder, will have to deal with it much more relaxedly as long as he joins one or two other shareholders.

At the same time, privatization can also produce a wealth transfer effect. After privatization, the equity value will definitely increase. Although the increase in equity value does not necessarily indicate that the operating efficiency will definitely increase, the increase in equity value may represent the transfer of wealth from other stakeholders (including creditors, preferred shareholders, employees and governments) to shareholders.

For example, in the leveraged acquisition that is popular for privatization, due to the sharp increase in debt, the value of the equity value of some companies will decrease, and the government's controlling rights in Zhongxing Capital will shrink greatly. This is also a fierce counterattack against people in China after Yang Xing's attack on others who want to take advantage of themselves after the privatization ends. When the privatization is over, there are only a few shareholders left. Yang Xing is the dominant player in Zhongxing Capital. If you want to swallow Zhongxing, you will not be able to succeed by relying on your power and not having enough wealth.

In addition to the above considerations, Yang Xing also wants to strengthen his control over Zhongxing, revitalize market confidence, and encourage management personnel. Due to the dispersion of equity of listed companies, the company's ownership and operating rights have been separated to a certain extent. The goal of the operator who holds control of the company's decision-making may deviate from the goal of shareholders as the owner, resulting in conflicts between the two parties. This is related to this. After Yang Xing was attacked, the group's operation fell into a certain situation. After he implemented privatization, he could combine ownership and control to a certain extent, thereby effectively reducing high-level frictions. At the same time, he was also prepared for the upcoming financial tsunami. He must firmly hold the rudder of Zhongxing, the big ship. (To be continued...)
Chapter completed!