“What you say makes sense!” Zhang Guangyu and his wife thought for a moment and said, “Then you should spend more time with Brother Li. If you’re meant to be, you might just make it work.”
"Oh, you don't need to worry about this." After saying that, Zhang Yifei ran off again.
Zhang Guangyu and Yang Luoxia exchanged a smile.
However, just half an hour after they finished talking, Yang Xiao, the general manager of Xintian Mining Group, called.
"Chairman Zhang, something terrible has happened!"
Zhang Guangyu is the chairman of Xintian Mining Group. As a billionaire entrepreneur, he was naturally calm and asked, "What's all the commotion about? What could be wrong? You're also the general manager of the group. What kind of behavior is this, all flustered?"
General Manager Yang Xiao said, "Chairman Zhang, this is a really big problem. Our loan is about to mature, and we've applied for extensions from several banks, but they've all refused. If we can't get an extension, our... our debts will explode, and the company will be finished!"
"What?!" Upon hearing this, Zhang Guangyu jumped up from his chair and said, "Tell me in detail."
General Manager Yang Xiao explained the details to Zhang Guangyu, and then added, "Chairman Zhang, as you know, our Xintian Group has developed rapidly in recent years. In order to expand our scale, we have borrowed heavily, and our debt ratio is as high as 80%. If the banks cut off our loans, we will be finished."
Zhang Guangyu was well aware of the seriousness of the banks cutting off loans.
Many companies borrow from banks to expand their operations, but due to insufficient funds, the interest rates are generally not low, at least 7%.
In other words, if you borrow 1 billion yuan, you would have to pay 70 million yuan in interest every year.
Therefore, some companies may appear glamorous, claiming to be worth tens of billions, hundreds of billions, or even trillions, but once bank loans, or debt ratios, are deducted, there is very little left.
Xintian Mining Group is no exception.
"How many loans are due recently?" Zhang Guangyu asked.
"10 billion!" Manager Yang blurted out.
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