Extraordinary Genius - Chapter 613
Chapter 613 – Changes to the ownership structure
“Hello? Dad, can I discuss something with you?”
“What? I am busy. Keep things short! Stop, San Wan, I win!”
Feng Yu: “……” You said you are busy? Playing Mahjong is alsoconsidered busy?
“Dad, can you sell me your Bing City Machinery Company’sshares?”
Feng Xingtai also holds Bing City Machinery Company’sshares. But he does not care about it. Even the dividends were credited intoFeng Yu’s account. He even forgets he was a shareholder.
When Feng Yu mentioned about this, he was confused: “Are youasking for a beating? Those shares are yours in the first place.”
“Dad, you must at least sign the documents to prove you hadsold the shares to me. I still have some money in Tai Hua Trading. I willtransfer the money to you, and you can invest the money into your factory. TaiHua Processed Food factory is expanding very fast and needs money.”
“Ok, ok. Just get someone to bring the contract over, and Iwill sign it. Don’t bother me with all these matters. Eh, eh, eh…… It’s myturn? Six Bamboos.”
“Ok. I will let the lawyer look for you. It is the Caucasianman with a big mustache. You will not hold any position in Bing City MachineryCompany in the future, and you will have to return your office.”
“I know. Is there anything else? How is school? Can youunderstand your classes?” Feng Xingtai asked.
“Yes. No problem. Errr…… Dad, I will hang up first. I stillhave work to do.” Feng Yu quickly hang up. What school? Feng Yu was still inChina and did not return to Hong Kong.
“Old Feng, can you stop answering the phone when we areplaying mah-jong? You think you are the only one who has a mobile phone?” WenDeguang said. It was the annoying look on Feng Xingtai’s face when he speaks onthe phone. He was trying to show off his mobile phone. Wen Deguang, thedistrict chief only had a pager.
“What’s wrong with answering the phone? I can’t even answerthe phone? Your son had wanted to buy a mobile phone for you, and you are theone who does not want it. Who can you blame?” Feng Xingtai purposely put hismobile phone on the table on top of a stack of 1 and 2 RMB bills.
Feng Xingtai was rich now, but he noticed that he does nothave a lot of friends. He spends his days fishing, strolling along the riverbanks. He could not finish spending his money, but his friends still need towork.
Only on weekends, Feng Xingtai could meet up with WenDeguang and the rest to play a few rounds of mah-jong.
Zhang Muhua was different. She had a new hobby introduced toher by Feng Yu. Cross stitch.
Cross stitch was an ancient art. But it was not popular inthe current era. In Feng Yu’s previous life, cross stitch only became popularin 2005. Currently only a factory was producing cross-stitch products, andthere was only one design.
After Feng Yu got people to bring back more designs fromoverseas, Zhang Muhua was addicted. She shared with her neighbors, and all ofthem gathered to do cross stitch together when they were free.
3 days later, Li Dafu sold off his company. Because he wasin a hurry to sell off his company which was worth at least 70 million for onlysold for 65 million. It was sold to another businessman from Zhejiang businessassociation.
Li Dafu’s company annual profits were more than 10 million.If he had the funds, it could increase further. In the previous life, Li Dafuhad borrowed money from the banks to grow his business and then started hismotorcycle business. Later, he set up Geely.
But in this life, there will not be Geely anymore. Even ifthere is a Geely, Li Dafu will not be the boss of it. Maybe the other Geelyfounders will start a new Geely.
On the surface, Li Dafu seems to have made a loss. Thedividends he will get from Bing City Machinery will not be as high as 10million. Although Bing City Machinery Company’s profits were very high, morethan 4 billion, but the dividends paid out were only a small portion. Most ofthe profits were reinvested into the company’s R&D.
Li Dafu felt the value of his shares will multiply in 3years, and it does not include the millions of dividends every year.
Furthermore, the company might be listed in the future. Oncelisted, the company’s value will increase further. The dividends will be muchhigher in the future.
Li Dafu firmly believes that he made the right decision. Ifhe could show Feng Yu his management capabilities in these two years, he mighteven vie for the position of Chairman once a board of directors was set up.From what Feng Yu said, it seems that Feng Yu was not interested in becomingthe Chairman. That means he might get full control of Bing city MachineryCompany one day.
Of course, he also felt this was not possible. Noshareholders would want to give up their authorities and let someone else runthe company. Even if Feng Yu was not interested, there is still the othershareholder from Hong Kong.
Li Dafu did not expect that once he entered Bing CityMachinery Company, there was a change in the ownership structure. Feng Yu hadpersuaded Fu Guangzheng and Bing City Government to give Li Mingde and dozensof management staffs some shares. The total amount of shares owned by thesepeople adds up to 2.5%.
Although Li Mingde had not reached the retirement age, herequested early retirement. He was no longer a government servant. Bing CityMachinery Company immediately employed Li Mingde and gave him 0.5% shares. Ofcourse, Li Mingde’s monthly salary was also adjusted to only 500 RMB. But LiMingde does not mind as he will be getting a lot more dividends.
The rest of the branch factories’ directors, deputy generalmanagers, and other top management staffs were given 0.01 to 0.02% of shares.Coupled with the 2.5% shares Feng Yu sold to Li Dafu, Bing City MachineryCompany have more than 20 shareholders. But Feng Yu still holds 53% shares ofthe company!
The company also form a board of directors. Feng Yu, Fu Guangzheng,Li Mingde, Li Dafu and a representative from the City Government form theboard. Li Mingde was appointed as the Chairman and General Manager.
Li Dafu finally got what he wished. He became one of theDeputy General Manager with 4 others. Feng Yu and Fu Guanzheng no longer holdthe position of deputies. Anyway, they were on the board, and they could watchover the company as one of the directors.
Many people in the company were shocked at Li Dafu’sappearance. Why did Feng Yu sell the company’s shares to this person and lethim handle the automobile division?
Li Dafu was formerly the boss of a company. He was able tosecure his position in a short time and impressed those that were unhappy withhim.
These were not important. Feng Yu had returned to HongKong……
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