Chapter 479 Equity Exchange
Chapter 479 Equity Exchange
"Don't even think about getting a penny. I'm going to ask him to lower the price by ten points!" Yin Zhaotang, wearing a black suit and crossing his legs, said firmly, "The Chicago Board of Trade just issued an announcement a week ago that the weather in major producing areas around the world is good and cotton prices will fall in the fall."
"Lixin used the strike as an excuse to raise prices, and you think I'm stupid."
In the 1960s, the United States reduced cotton production and switched to growing more expensive fruits. Currently, the world's cotton production is mainly concentrated in third world countries such as China, Pakistan, and India.
Zuoshou had long expected that the boss would take advantage of the factory expansion period to lower the price of cloth and spinning, and suggested in a concentrated voice: "Boss, why not just hold off? Talk to the Lin family first and raise the price by five or six points to ensure that the factory and materials are used first."
"If you have enough money, you can buy a few good textile factories and become self-sufficient, so that you don't have to be a piggy for the Lin family."
The chairman of Li & Fung Group is Lin Baixin, known as the "Textile King". He owns many companies including "Li & Fung Textile", "Li & Fung Garment" and "Li & Fung Development".
He mainly exports fabrics, textiles and ready-made clothes to Europe, America, Africa and other countries. He was once the entrepreneur on Hong Kong Island with the largest export amount to Africa.
His business colleagues nicknamed him the African King.
This person is also a senior member of the Chaoshan Chamber of Commerce. He has good relations with Taiwan’s political circles and has invested in several textile factories in Taiwan.
Two years ago, when Pegasus was small, it had a cooperative relationship with Li & Fung. Now, with the opportunity of the Olympics, the Pegasus brand has become a big hit, threatening the status of the textile giant.
Yin Zhaotang understood that Zuoshou's suggestion was pertinent, so he suppressed his anger and said, "Let's make an appointment with the Lin family to talk as soon as possible. Then send someone to Taiwan to investigate whether the strike is true or not. And check if there are any good textile companies that are suitable for acquisition."
Zuo Shou stood up and replied, "I'll do it right away."
"Go away."
Yin Zhaotang waved his hand, and after all the executives at the meeting bowed and left, he said sullenly, "It's a pity that there is a lack of market in China, the textile industry is weak, and there is a lack of suitable suppliers."
“Otherwise, you don’t even need to collect textile mills, just place orders directly.”
Compared with garment factories, textile factories that only sell fabrics and spin yarns have even slimmer profits. After the Li & Fung Group became the leader in East Asia, many textile factories in Taiwan died.
Later, Taiwanese politicians simply invited Li & Fung to invest in Taiwan.
Lin Baixin now places European orders in Hong Kong Island and African orders in Taiwan Island.
In addition, he was investing in Taiwan while speculating in stocks in Taiwan.
After driving up the share price of Minxing Textile in Taoyuan County, it was sold at a high price, leaving a mess for Hualong Textile in Taichung to take over.
It will also develop real estate, retail and hotel industries in Hong Kong Island and acquire Asia Television in the future.
Maybe he really felt that the textile industry had reached its limit, or maybe he was influenced by his father's identity as a "banker", this man was extremely profit-oriented and did not consider human feelings when doing business.
Three days later, Peninsula Hotel.
The 70-year-old Lin Baixin was dressed in a neat suit, with a neat hairstyle and a pair of black-framed glasses. His second son, Lin Jianyue, met people in the lobby and led Yin Zhaotang and his party into the private room.
Peter Lam is the most favored son of Lam Pak-yan's second wife and has been designated as the successor to the Li & Fung Group.
With the intention of respecting his senior, Yin Zhaotang did not feel that he was being neglected. He came to the box and shook hands with Lin Baixin and said, "Uncle Lin, how are you?"
Lin Baixin clapped Yin Zhaotang's hands, looked at him with admiration, and praised him repeatedly: "Thank you for your concern, you are still strong."
"Young man, you are really good at business. You can even think of betting on the Olympics." "Genius!"
Hong Kong people never paid attention to the Olympics before, and Hong Kong businessmen would never think of sponsoring the national team. In Lin Baixin's view, the Pegasus brand is performing a marketing miracle.
Yin Zhaotang smiled and said modestly: "I still have to learn some tricks and business matters from Uncle Lin. I just became famous in Los Angeles and was taught a lesson by Uncle Lin."
"Hahaha, not really, not really. Has the Paralympic team led by Ah Hong already gone to Los Angeles?" Lin Baixin asked.
At this time, several people had already sat down at the table. Peter Lam asked the waiter to serve the food, lit a cigarette with his left hand, and pricked up his ears.
"It landed the day before yesterday and the competition has already started." Yin Zhaotang said.
Lin Baixin was a little surprised: "Didn't you see the broadcast?"
"As the ratings for the Paralympics were low, ATV decided not to buy the broadcasting rights. Uncle Lin should watch more TVB when he has time."
Lin Baixin curled his wrinkled mouth and said: "Mr. Qiu is really stingy." (The current chairman of Asia Television Group is Qiu Degen, the owner of Far Eastern Bank)
Seeing that the politeness was almost over, Yin Zhaotang put down the bird's nest he was using to rinse his mouth and said, "Uncle Lin, Pegasus has just become famous and has signed many orders. We need Lixin's fabric support. We are both from Chaoshan, so please support the younger generation. Why is the price increasing by 15 points if it is not a big discount? It doesn't make sense."
Lin Baixin still smiled happily, but the shrewdness in his eyes could not be hidden. He said with a fake smile: "Ah Tang, let's make money together. In addition to supplying Pegasus, Lixin also supplies to Europe, America, and Africa. In addition, there is a strike in Taiwan, so the supply is tight, so the price must be raised."
"You've made a name for yourself as a fellow villager, so I'll definitely take care of the younger generation. I'll reduce your salary by five points and increase it by ten points, okay?"
Yin Zhaotang couldn't help but laugh: "I didn't even plan to pay, Uncle Lin, are you using it to give me a discount? My people have gone to see that the strike on Taiwan Island is just a small matter, and the authorities have already dealt with it."
"Within five years, Pegasus can increase its orders to Lixin eightfold. As long as Uncle Lin opens a few more production lines, he can sit back and count the money. He should give me 15 points, right?"
"I am very generous. I also put five or ten dots on it as a way of honoring my elders."
Lin Jianyue's eyelids twitched when he heard this, and he warned, "Mr. Yin, be careful when you talk to my father. Apart from the Lin family, no one can supply you with so much goods!"
"Don't you want to do business anymore?"
Lin Baixin raised his hand to interrupt his son and said, "Lixin also sells ready-made clothes. In the market, if a customer buys one more Pegasus T-shirt, he will buy one less Lixin shirt."
"It was fine for Pegasus to only make sneakers before, but now it does everything and won't give Li & Fung concessions, so it's hard for Li & Fung to support it. In a few years, Pegasus will set up a textile factory, and Li & Fung won't be able to make any money."
Yin Zhaotang's face gradually turned cold, and he said, "So Uncle Lin is determined to make a fortune from me?"
Lin Baixin was silent for a moment, adjusted the watch strap on his hand, and said calmly: "We can also jointly open a textile factory in the mainland, and the goods produced can be supplied to Pegasus and the mainland."
Zuo Shou was shocked and immediately understood that Lin Baixin wanted the shares of Pegasus. Because the mainland even accepted Taiwanese investment, Li Xin only had a share in Taiwan, so there was no problem in investing in the mainland, and there was no need to cooperate with Lao Zhong.
"What conditions?" Yin Zhaotang restrained his expression and asked.
Lin Baixin smiled and said sincerely, "Lixin will provide the equipment and manpower, and we will take care of the supply. The price is ten points lower than the market price, and we will supply Pegasus exclusively. We can also provide material research and development. But if you want to do an equity swap with Pegasus, you can get three points from Lixin Textile and one point from Pegasus. You only need to exchange ten points."
(End of this chapter)