Chapter 2135 Confused Financial Report

Since the Lian family is now experiencing financial difficulties, Zhou Buqi decided to participate in his own name, give them some money, and help them with some small favors.

Because of Yan Qiqi and Zhao Li Muge's outstanding performance in this matter, Zhou Buqi decided to take them with him on this business trip south as a reward.

There are no additional procedures required when traveling within the country, you can just go as you please.

This business trip is mainly about two things.

One, go to Hangzhou, meet with Boss Ma and talk about Yahoo;

Second, go to the Magic City to meet with the father-in-law of the Shi family and talk about Taizun Real Estate.

The current assets of Taizun Real Estate are less than 30 billion yuan, and the liabilities have reached 20 billion yuan. This debt ratio is already very high. The old father-in-law Shi Guotai believed in the judgment of his son-in-law Zhou Buqi, so he kept fighting high and boldly using leverage.

Taizun Real Estate has developed so rapidly in the past few years and has become a real estate company with a market value of more than HK$48 billion. This is largely due to the rapid growth brought about by debt.

However, this year Taizun Real Estate encountered a new situation.

They had already repaid the $400 million they owed Zhou Buqi, and suddenly a large amount of money was missing from their account. This means that leverage financing must be added.

The current debt ratio of Taizun Real Estate is nearly 70%, which is already very high.

The cost of the loan will also increase in this case.

Fortunately, Taizun Real Estate is listed on the market, and it is listed in Hong Kong, an international financial city. This has the advantage of being in line with international capital, which is unmatched by large A-shares.

Taizun Real Estate can not only obtain loans from domestic banks, but also from overseas capital institutions, and can also issue corporate bonds.

The logic of obtaining loans from domestic banks is different from obtaining loans from large foreign private equity firms.

Taking out a loan in the country is a traditional lending logic.

To use Boss Ma’s words to describe it, it’s “pawnshop thinking.” You must have real assets as collateral. If you mortgage an asset of 100 yuan, you may get a loan of up to 60 yuan or 70 yuan.

Taizun Real Estate's asset-liability ratio is nearly 70%, which has reached a critical value.

If it exceeds the critical value, it is not impossible to obtain a loan, but the risk and return are directly proportional. For banks, if they take huge risks, the loan interest rates they offer will be sky-high, which is very uneconomical.

Loans from foreign capital institutions, especially some private equity institutions, rely on a new set of modern financial logic, which looks at goodwill, which is a company's brand value and future potential.

If the company has great potential, even if the debt ratio is 100% or 200%, the employer will still be willing to continue lending, because the higher the goodwill, the greater the potential and the higher the credibility of future repayments, and there is no fear of repayment. If that doesn't work, you can still swap debt for equity.

The higher the goodwill, the more loan you can get and the lower the interest rate on the loan.

If Taizun Real Estate wants to continue to develop with high leverage operations, the way with the lowest financial cost is to find ways to increase goodwill.

How to improve goodwill?

The father-in-law of the Shi family was not a low-income person, so he came up with a very bold idea - football.

When it came to football, the concept was too big. Zhou Buqi couldn't explain it clearly with just a phone call, so he took the initiative to go south to meet his elders.

Zhou Buqi wants to go to Hangzhou first.

Zhao Li Muge finally got the opportunity to accompany the big boss on a business trip. His heart was filled with girlish feelings and beautiful expectations. He always felt that this time... something might happen.

On the plane, I was buzzing around Zhou Buqi, but the big boss was busy reading the financial report, so I was too embarrassed to disturb him, and he stopped talking several times.

Zhou Buqi could see her thoughts and said with a smile: "Okay, stop wandering around, come sit here and you can take a look too."

As he spoke, he pointed to the place next to him and handed her a financial report in his hand.

"I can't understand..."

Zhao Li Muge felt a little embarrassed.

The threshold for reading formal financial reports is indeed very high, and even different regions have different accounting standards. The financial reports published by the same company may even be different in different countries under different accounting standards.

Many laymen don’t understand the twists and turns, so they often get confused. When they try to piece together American financial reports and domestic financial reports, they will be confused and find that many data are fundamentally different, and they may even mistake them for financial fraud. .

Zhou Buqi said with a smile: "It's not a formal financial report, just a rough summary."

Zhao Li Muge said "Oh" and took it. He found that it was Yuanwei Group's financial report for the past year. He was a little lost and asked: "Boss, when will the official financial report be released?"

"It will be March at the earliest." Zhou Buqi smiled, "Don't you like stock trading? In fact, as long as you understand the logic of financial report announcements, it will also be helpful for stock trading."

"what?"

Zhao Li Muge's beautiful eyes widened and she was very curious.

Zhou Buqi said: "Most countries have requirements that the financial report of the previous year must be announced to the market before May. Some excellent companies, or companies with excellent performance in the previous fiscal year, usually release it in March or The financial report will be announced in early April. The sooner good news is announced, the sooner the stock price will gain momentum."

Zhao Li Muge nodded lightly and tilted his head, "What if it's a bad company?"

Zhou Buqi smiled and said: "If some bad companies are afraid that the outside world will know their details, they will definitely delay it as long as they can. They will not have to announce it until the end of April when the timeline is reached."

Zhao Li Muge pursed his lips, "As soon as a very bad financial report is announced, the stock price will plummet."

Zhou Buqi nodded, "So, there is a big logic here. In March and April, a large number of good companies in the market released eye-catching financial reports. This was good news in the market, and the stock market would collectively Rising. But at the end of April, many bad companies start to release financial reports, which will affect market sentiment and the stock market will fall. Therefore, the stock market at the end of April and early May will generally be relatively sluggish."

"No wonder I've never made any money in the stock market," Zhao Li Muge suddenly realized, "It turns out to be so complicated."

Zhou Buqi told her about stock trading and also knew something about her situation. She is a senior stock investor and has been trading in stocks for many years. "Never made a profit once?"

Zhao Li Muge said distressedly: "I started learning stock trading in the second semester of my freshman year, and now I have lost a total of seven or eight thousand."

Zhou Buqi couldn't help laughing, "It's okay, not too much."

Zhao Li Muge pouted and said: "When I started stock trading, it was the end of the bull market, and I bought the highest point in one fell swoop. Then the subprime mortgage crisis came, and I was finished in one fell swoop. Now PetroChina is still holding me back 5,000 yuan. Yeah! I have a classmate who is my roommate in college. The tuition and living expenses for the four years of college were all earned from stock trading."

"Huh?" Zhou Buqi raised his eyebrows, "She made money by trading stocks, but she didn't take you with her?"

Zhao Li Muge snorted, "It's better if you don't take her with you. Now that I'm considered prosperous, I won't take her with me! She even borrowed money from me a few days ago. She must have seen a good stock and wanted to borrow money to trade in the stock market." , I’ll pay it back after making money. I won’t borrow it, I’ll speculate it myself! Well, Yuanwei Group is pretty good!”

Although this is only a rough financial report, it is eye-catching enough.

In the past year, Yuanwei Group's revenue reached 3.24 billion yuan, of which net profit increased by 78% compared to the previous fiscal year, reaching 520 million yuan.

The current market value of Yuanwei Group is approximately HK$13.5 billion.

It is estimated that it will soon reach 20 billion Hong Kong dollars.

Zhou Buqi said with a smile: "With that little salary, just enjoy your life. If you have some savings, honor your parents more. There are several people who can make a fortune by stock trading. It is not easy to choose the right stocks."

Zhao Li Muge was very smart, and he immediately figured out what the big boss meant.

It doesn’t seem like a good choice to buy Yuanwei Group shares!

Well, let’s look at other companies’ financial reports.

so many!

There are seventeen or eighteen copies.

The boss is so great and has so many companies.

"Boss, can I see it?" Zhao Li Muge pointed to the other folders scattered on the table.

Zhou Buqi smiled and said, "Okay, watch it as you like. After you finish watching it, don't tell anyone else."

Zhao Li Muge pursed his lips, "I know, I won't tell you!"

The next financial report is from Jieyu Media.

Last year, revenue reached 7.45 billion yuan and net profit was 3.26 billion yuan.

Wow!

Zhao Li Muge was shocked.

So fierce!

I really didn’t expect that Jieyu Media, whose headquarters is located on the edge of the Ziweixing headquarters campus. It seems that there is nothing unusual about its humble appearance, but it can make so much money!

Let’s look at the specific revenue list.

Overseas revenue reached 5.35 billion yuan.

I don’t know what kind of overseas business Jieyu Media has. It seems that "The Voice" is very popular abroad and is currently the most popular variety reality show in the world. It should be the copyright fees collected from overseas, right?

Next is Chaowan Commune, another very powerful company whose financial reports are actually calculated in US dollars. Revenue was US$1.38 billion and net profit was US$740 million.

Compared with 2010, the growth rate is as high as 136%!

I don’t know what the situation is.

It seems that I am really not doing my job as a secretary. I should work harder and pay more attention in the future.

Next, there is Ziweixing Digital Media.

Last year's revenue was 760 million pounds and profit was -120 million pounds.

Zhao Li Muge thought he had made a mistake. He rubbed his eyes and took a closer look, "Loss? Boss, this company has made a loss..."

Zhou Buqi glanced at it casually and said unconcernedly, "It's normal for Internet companies to lose money, mainly because of too much marketing expenses. If you don't want to leave your children, you can't trap the wolf. Just look at the financial reports of Netflix or Ziweixing International. That's it. It’s amazing.”

Zhao Li Muge flipped through it and found Netflix.

Then I got scared.

In the past year, Netflix’s losses reached US$980 million. You know, Netflix’s current market value is only $14 billion.

Look at Ziweixing International again...

I was so stunned that I couldn't speak.

In the past year, including capital gains from the sale of Twitter and friend studios, Ziweixing International’s revenue totaled US$7.25 billion, which is a very spectacular figure.

However, the expenses are also extremely high.

Total spending reached $9.86 billion!

Net loss of US$2.6 billion!

This is a relatively detailed financial report, four to five pages long, with a list of each item of expenditure, but it is all in English. Zhao Li Muge can only take a rough look at it.

Just a little dizzy.

When he looked at Boss Zhou again, his eyes became blurred in a trance.

The boss is so handsome!

It's so cool to lose money.

So charming!