Chapter 81 All directions talk about Zhao Xinxian's "six tricks to make money"

Unrestrained expansion, rapidly expanding debt and rapidly rising costs will inevitably lead to tension in the "three-nine system" capital chain.In order to solve the financial dilemma, Zhao Xin first conducted capital operations through the three listed companies under the Sanjiu Group. The method used is not original, but his bold actions and his ignorance of laws and shareholders' interests are very rare.Financial expert Lang Xianping summed it up as "six tricks for making money", which are: interception, borrowing, advance, transfer, set-up, and reliance. Truncation formula—directly cut off the funds that listed companies raise from the market. In October 2001, the Shenzhen Stock Exchange publicly condemned Sanjiu Group, the major shareholder of Sanjiu Pharmaceutical, for misappropriating 2.5 billion yuan of listed company funds.Sanjiu Medicine actually raised 1.67 billion yuan from the stock market. The 2.5 billion yuan is 1.5 times that of 1.67 billion yuan, equivalent to 96% of Sanjiu Pharmaceutical's net assets, which means that almost all of Sanjiu Pharmaceutical's funds have been taken up, leaving only an empty shell.

Borrowing tactics——Sanjiu Group borrows money from its subordinate listed companies, but it often fails to repay.According to Sanjiu Pharmaceutical’s 2002 financial annual report, the group has borrowed a total of 2.19 billion yuan of funds from it, and let it “advance expenses” for another Sanjiu Digital Health Management Co., Ltd. nearly 49 million yuan. Paid-in tactic--the project invested in the name of the group, but let the listed company advance the investment on its behalf.After the project matures, the group will resell the project to a listed company.This means that major shareholders can make money without contributing capital.Sanjiu Group started a project of traditional Chinese medicine dispensing cabinets. Sanjiu Pharmaceutical invested 29.51 million yuan as the start-up capital. When it was about to enter the profit period, the group "spun off" it in the name of industrial adjustment, and then sold it at a price of 42.36 million yuan. sold to another company within the group.Sanjiu Pharmaceutical has a share of investment, but no profit.

Misappropriation of words—misappropriation of investment funds raised by listed companies, frequent changes or cancellations of capital investment plans. In 2000, Sanjiu Medicine raised 320 million yuan in the name of investing in a new human recombinant tumor necrosis factor drug.The strange thing is that three years later, Sanjiu Group announced that the project would start production, but the investment amount became 100 million yuan, and the whereabouts of the remaining 220 million yuan is unknown. Set of words - various related transactions between the group and the listed company. The common feature is that the group buys low and sells high, while the listed company is just the opposite. The reason is self-evident. The listed company exchanges real money Back to scrap metal. In 2000, Sanjiu Group invested 4 million yuan to create Sanjiu Health Network. One year later, when the Internet bubble burst, the group transferred 65% of its shares to Sanjiu Medicine at a high price of 78 million yuan, and the investment benefit was magnified 20 times. .This transaction is obviously throwing low-quality assets to listed companies and taking the opportunity to arbitrage.After the news was announced, Sanjiu Pharmaceutical’s share price fell in response, falling by more than 10% within three days.

Lai Zijue——In 2001, Sanjiu Medicine was found out by the China Securities Regulatory Commission for misappropriating funds.Therefore, Sanjiu Group used the "999" trademark as intangible assets at a price of 630 million yuan for repayment.In fact, Sanjiu Medicine had already owned the right to use the Sanjiu trademark in the past, so the repayment this time has no real value, and it is almost equivalent to a default.