Chen Shuqin did not wait for Chen Xia's reply, but waited for Chen Xia to come in person.
So the aunt and niece went to Ogilvy Pharmaceuticals in Tsuen Wan for formal acquisition negotiations. Chen Shuqin had already made preparations, and even the lawyers and accountants had been called in to form a temporary negotiation team.
Ogilvy Pharmaceuticals covers an area of about 80 acres and is not too large. At its peak, it had about 200 workers.
There are probably more than 50 people left now, mainly technical personnel. The other workers have been temporarily laid off. After all, labor costs in Hong Kong are still very expensive.
Wei Yunhai was a little unwilling to give up and keep the technical personnel. After all, it was easy to find workers, but it was difficult to find technicians. From this point of view, he could be considered a business owner who understood business, but it was a pity that he was born at the wrong time.
When Chen Xia and Chen Shuqin's car drove into the pharmaceutical factory, they found it deserted. Wei Yunhai and his two younger brothers were standing in front of the office building to welcome Chen Shuqin and her group.
Wei Yunhai and his two younger brothers are the only three shareholders of Ogilvy. Since it is not a listed company, the negotiations are actually quite simple. The only problem that Nangua Teng faces when wanting to acquire Ogilvy is the price.
As soon as they met, Wei Yunhai came forward enthusiastically and said, "Manager Chen, we meet again. Haha, you made me wait so long."
"Manager Wei, you called me three times in one day. When my male classmates were pursuing me, none of them were as passionate as you."
Hahaha, a few jokes kept the atmosphere between the two sides quite friendly.
Chen Shuqin did not introduce Chen Xia, and Wei Yunhai also thought he was a secretary, so he did not greet him.
In the conference room.
Wei Yunhai gave a detailed introduction to Ogilvy & Mather's current assets, production lines, laboratories, and technical personnel. Of course, when it came to annual output value and profits, he felt a little embarrassed and kept laughing.
Chen Shuqin didn't care. The worse his business was and the lower his profits were, the more favorable the negotiation conditions were for her.
Chen Xia listened carefully, especially to Wei Yunhai's words: "As long as the funds are in place, the workers can be recruited at any time and production can be resumed immediately."
This shows that this is a "healthy" enterprise. Many of its current difficulties are due to hunger due to lack of money for food. It does not have any organic diseases, so there is no need for major fuss or rescue.
After both parties sat down, Wei Yunhai began to complain:
"Manager Chen, I'm a straightforward person. You've seen the current state of our factory. If the three of us brothers hadn't wanted to emigrate, we really wouldn't want to sell this pharmaceutical factory. After all, starting a business back then wasn't easy, so regarding the price..."
Chen Shuqin smiled and asked, "What price have the three Managers Wei decided on for the transfer?"
The three brothers had obviously discussed it long ago. Wei Yunhai held up a finger and said 100 million Hong Kong dollars, which is almost 13 million US dollars.
Is this expensive? For example, in downtown Hong Kong, you could buy a 1,000-square-foot luxury home for HK$1 million. Now that prices have fallen, it's probably even less than HK$1 million. In Mei Foo Sun Chuen in Lai Chi Kok, Kowloon, you could buy a home for HK$600,000 to HK$700,000.
The average Hong Kong resident earns only around 1,000 yuan a month. Jobs like teachers and police officers earn a bit more, around 2,000 yuan a month. Even white-collar workers rarely earn more than 5,000 yuan.
In the entertainment industry, the movie "Best Partner" starring Mai Karl-Heinz and Sam Hui was the box office champion in 1983, but it only grossed a little over 20 million.
"I Love Night Jasmine", starring Lin Qingxia, the spokesperson for Rainbow Clouds, ranked sixth at the box office with only 13 million, and her salary was only 250,000 Hong Kong dollars.
Well, let's take a look at Ogilvy Pharmaceuticals' offer, HK$100 million, which is simply an exorbitant price. This is equivalent to the price of 100 1,000-square-foot luxury houses, and this is just a pharmaceutical factory that is making losses and can't even pay its labor costs.
If Chen Shuqin and Chen Xia, the aunt and niece, had not already had a comprehensive plan, they would have turned around and left after hearing the price.
Chen Shuqin remained calm and said with a smile:
"Manager Wei, you're kidding me. Why would I buy Ogilvy Pharmaceuticals for HK$100 million? With that much money, I could open a new pharmaceutical factory next to yours and then recruit your laid-off technicians and workers. I can still operate the factory."
Brother Wei Yunhai's face turned red and then pale. Although he said this politely, it was actually threatening. But the key point was that the other party had the capital now.
"So, what do you think is a suitable amount, Manager Chen?"
"We need to evaluate the details. Your pharmaceutical company currently owes 20 million Hong Kong dollars, which I can cover. I'll also give you an additional 50 million Hong Kong dollars, for a total of 70 million Hong Kong dollars. I think that's a very reasonable price."
Chen Shuqin always has a keep-away expression in front of strangers, regaining the temperament and style that a workplace elite should have.
"Haha, Manager Chen, 70 million Hong Kong dollars is too little. Even if we three brothers divide it, we won't get much. Besides, we still have to pay off the bank mortgage. It's not enough."
Chen Xia suddenly interrupted at this time: "Manager Wei, how many properties do you have now? How much is the monthly mortgage payment?"
Wei Yunhai didn't want to say it. If their competitors knew about their miserable situation, wouldn't they bargain even harder? "This is..."
Chen Shuqin nodded: "My nephew, his opinion can represent my opinion."
Chen Xia smiled:
"Manager Wei, please don't misunderstand me. What I'm trying to say is, if you're having trouble paying your mortgage, we can buy your property at the current market price and cover the remaining mortgage payments. How about that? You probably won't be able to sell it anyway, and the mortgage has consumed all your working capital. Am I right?"
The three Wei brothers thought that Chen Xia had investigated them and felt unhappy, but business is business, and the winner takes all, so there is nothing to complain about.
"Mr. Chen, are you really willing to take over the property we have?"
"Yes, but it's not the price you originally purchased it at. It's the current market price."
The three Wei brothers looked at each other. Why wouldn't they want to sell these properties? Real estate prices are always high, buy high, sell low. The lower the price, the fewer people will buy. Rich people are afraid that 97 will run away and no one will take over.
Now there's a sucker willing to take over the Wei family's pharmaceutical factory, properties, and debts, and they can take the cash and leave the country. What are they waiting for? They have to agree.
"Okay, Mr. Chen is straightforward. Secretary Liu, please bring us the list of properties under our personal name."
Chen Shuqin was very puzzled. House prices were still falling. If they didn't go up, it would be a huge sum of money.
While the accountants and lawyers of both parties were calculating the finances, Chen Xia quietly explained to Chen Shuqin:
"Don't worry, little aunt. The housing prices have already dropped by half. It's not a loss for us to take over now. Otherwise, it would cost tens of millions more just to buy the pharmaceutical factory. Don't forget that this is the accumulation of the Wei family over the years, and now it all belongs to our Chen family."
Chen Shuqin trusted her nephew's intuition very much and no longer objected.
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