Chapter 120 Northern Capital Alliance

"What, do you want to sell it to Japan now? Still raise the price by 30%? Zhao Dongping is one of the few people who participated in this matter, but he is the same as Japan himself thought. He believes that selling arms to the Russians is simply to make money. Now the price given by Japan is higher, and naturally he is sold to Japan himself.

"In this way, our monthly income can increase a lot. If we do it for a few more months, not to mention enough money to equip mortars, I'm afraid there will be no problem to build a new infantry battalion for the Jinzhou patrol battalion!"

"But it's a pity that we can't do Russian business in the future!" Zhao Dongping said so.

But as soon as he finished speaking, Zhao Dongyun said, "Who said that the Russians would not do business? Japan wanted us to sell weapons, and the Russians wanted us to sell them!"

Zhao Dongping was slightly stunned: "Don't the Japanese need 5,000 shells a month? What do we sell to the Russians?

Zhao Dongyun said, "Then we will buy 10,000 rounds a month, half of a family!"

At this time, Zhao Dongping wondered, "Brother, you mean to ask Fuyuan Machinery Factory to increase the output of another 5,000 rounds. Didn't they say that the output is not so good?"

Zhao Dongyun said angrily, "If the output is not enough, you won't misappropriate the output of other orders first, and won't you continue to expand production? 10,000 steps back, even if Fuyuan Machinery Factory does not have enough production, can't we buy goods from Germany and the United States?

At this time, Zhao Dongping seemed to be enlightened: "Oh, I almost forgot that Fuyuan Machine Factory is our own!"

Zhao Dongyun added a sentence at this time: "You also forgot that we are second-way traffickers!"

What Zhao Dongyun said is not wrong. In his arms trade with the Russians and Japan himself, it is not the direct arms trade between Fuyuan Machinery Factory and Japan and Russia. He is just a supplier. He does not dominate the arms trade. Zhao Dongyun, who controls Jinzhou, occupies a dominant position.

As long as Zhao Dongyun can provide sufficient sources of goods, he can make money from Japan or the Russians, but it is not so easy to expand the supply of goods.

The first consideration is naturally to let Fuyuan Machinery Factory expand production, but now Fuyuan Machinery Factory has a lot of debts. After continuously investing in the expansion of rifles, bullets and artillery production lines, Fuyuan Machinery Factory invested in an affiliated steel mill at the beginning of the year. In order to further expand the output of shells, it is estimated that the problem is Larger.

If it was the Fuyuan Machine Factory a year ago, it is estimated that Zhao Dongyun could directly instruct Fuyuan Machine Factory to expand production, but now the equity competition on the Fuyuan Machine Factory is relatively fierce, and it is not easy for Zhao Dongyun to intervene in the detailed operation of Fuyuan Machine Factory.

Fuyuan Machinery Factory has been profitable since the beginning of its preparation and even before mass production. The ordnance orders of the Beiyang New Army and other provinces' new army and the old army have given Fuyuan Machinery Factory a good profitable future, especially after last year, many people took a fancy to this cake, and even many foreign investors want Step in.

However, Yuan Shikai, who regarded Fuyuan Machinery Factory as a Beiyang collective enterprise, asked for an order for Fuyuan Machinery Factory, saying that the factory is related to national defense and strictly prevents it from falling into the hands of outsiders. The Qing court specifically decreed that the factory would not allow foreigners to invest in shares. Even if foreigners hold the share capital of the factory through various means, they will be invalidated as soon as they are found. This kind of thing was an exception in the chaotic late Qing Dynasty.

However, after nothing happened to foreigners, people with more money in China want to invest in it, and the original shareholders of Fuyuan Machinery Factory are more eager to expand their share capital ratio.

However, in the past year, as the parent company of Fuyuan Machinery Factory, the major shareholders have not agreed to large-scale equity increase, but only passed two small-scale equity increase. The main source of funds is still through loans. However, although there are many loans, when loans After reaching a certain range, there will soon be no loan.

At the end of last year, Fuyuan Machinery Factory plans to establish an affiliated steel mill and prepare to buy many equipment needed for gunmaking and heavy machine guns. The funds required have reached millions, and the loan is less than that much. Finally, it is ready to raise capital.

However, due to the large scale of the additional issuance this time, once the successful increase of shares will reduce the shares of Fuyuan Yarn Factory from 43 percent to 24 percent. Naturally, this move has been strongly opposed by the parent company of Fuyuan Yarn Factory. Although development is important, it is more important to control the enterprise. However, the opposition of Fuyuan Yarn Factory failed.

Although Fuyuan Machinery Factory is a subsidiary of Fuyuan Yarn Factory, its operating rights belong to the board of directors. At the same time, Fuyuan is still registered in the British Concession, which can be regarded as half of British enterprises. After the meeting of Fuyuan Machinery Factory with modern rules and regulations, most of the shareholders agreed to issue more Fuyuan Machinery Factory. With the large-scale issuance of equity, even the parent company and major shareholder Fuyuan Yarn Factory cannot change the decision of the board of directors.

In the end, Fuyuan Yarn Factory was forced to take advantage of the share purchase priority of the original shareholders and did not hesitate to lend hundreds of thousands of silver from Tianjin Official Bank and several other banks to purchase additional shares in an attempt to maintain absolute controlling rights, but there were still a large number of additional shares purchased by other shareholders, resulting in the occupation of Fuyuan Machinery Factory in Fuyuan Machinery Factory. The stock further fell to only 35%.

It is worth noting that in the three additional issuance of equity and many loans, Fuyuan Machinery Factory has raised more than 4 million taels of silver from the northern capital market, especially in Tianjin and Beijing. Basically, national capitalists with more than one million assets on the north are more or less involved. .

And this is still directly involved. Some capitalists who have not been able to directly invest in shares through circuitous ways, such as investing in one of the shareholder companies to indirectly obtain shares of Fuyuan Machinery Factory. For example, the second largest shareholder of Fuyuan Machinery Factory, Dingsheng Ticket Number, was changed from the traditional ticket number to Dingsheng Bank at the beginning of the year. After four years of investigation and study of the foreign banking system, Hong Xuwei finally embarked on the road of reform and changed Dingsheng ticket number, a traditional Shanxi ticket number, to a new modern bank.

And after the restructuring, it also imitated the development path of Fuyuan Machinery Factory. Instead of stubbornly insisting on private holding, it was changed to a limited joint-stock bank in accordance with the latest company law, which attracted a large amount of capital.

Because it holds a large number of shares of Fuyuan Machinery Factory and is also one of the major creditors of Fuyuan Yarn Factory and Fuyuan Machinery Factory, the reform of this ticket number has attracted many domestic capitalists to participate, and the development momentum is very strong.

The many financing of Fuyuan Machinery Factory is actually a capital feast again and again. Countless people want to take a bite. The total capital scale participating in it is not only a few million taels of silver, but tens of millions.

At the same time, several other subsidiaries of Fuyuan Yarn Factory have also attracted the joint participation of many capital, such as Fuyuan Weaving Factory, Fuyuan Yanghui Factory, Fuyuan Match Factory, Fuyuan Soap Factory and a series of subsidiaries. Although the scale is far less than that of Fuyuan Machine Factory, it is also due to the adoption of a new management system. And with the precedent of the success of Fuyuan Machinery Factory, it has also attracted the participation of many domestic capital and even foreign capital.

Among several newly built subsidiaries, especially the Fuyuan Weaving Factory, which attracted the participation of many national capitalists in the textile industry when it was organized last year. The Li family in Jinzhou wanted to invest in it at the beginning, but at that time, Fuyuan Yarn Factory did not attract large-scale foreign investment, but paid its own preliminary investment until now. It was successfully put into production in February, and due to the outbreak of the Russo-Japanese War, the cloth of the weaving factory quickly occupied the mechanism cloth market in Northeast and several other northern provinces. Only then did it issue additional equity financing to the capital market and obtained financing of up to one million taels of silver in one fell swoop, becoming the largest weaving company in northern China. Cloth enterprise.

If combined with the spinning business of the parent company of Fuyuan Yarn Factory, its spinning and weaving scale has surpassed other domestic textile enterprises such as Hubei official yarn factory, weaving factory and Dasheng yarn factory.

In addition, it is interesting that Fuyuan Yarn Factory is the parent company of many subsidiaries of Fuyuan Group, but its own business is far inferior to that of several subsidiaries. Zhao Chenbin, Zhao Chenliang and others at the helm also found this embarrassing situation. They are already preparing for the restructuring of Fuyuan Yarn Factory, but it involves Fuyuan Yarn Factory and many others. Subsidiaries, especially when there is such an important subsidiary as Fuyuan Machinery Factory.

Although the Zhao family's share in this series of subsidiaries is estimated to be about 2 million taels of silver, the assets of subsidiaries and cooperative enterprises involved in a series of restructuring will reach tens of millions, which is related to the livelihood of tens of thousands of employees of a series of subsidiaries and cooperative enterprises. There is not much modern They also dare not change their experience in enterprise restructuring management, but follow the advice of the management and go to New York to find professionals in restructuring business.

It is estimated that it will take a year or two to complete the reorganization.

It is not surprising that Fuyuan yarn factories appeared in the United States, the United Kingdom and any industrialized country, but it has to be said that it is extremely inappropriate to appear in China after the year of Gengzi.

Although Fuyuan yarn factory is under the full control of the Zhao family, in a legal sense, this enterprise is a serious British-funded enterprise and pays taxes to the British concession authorities in Tianjin. During the restructuring process of Fuyuan yarn factory, it intends to register its future parent company in Hong Kong or even London. To be honest, today's China's lack of relevant political environment, even without many laws on industry and commerce, is irresponsible for countless shareholders to rashly put a super enterprise with tens of millions of assets into China.

Fuyuan Machinery Factory has Yuan Shikai watching in person, and others dare not do it, but if Fuyuan Yarn Factory and other subsidiaries do not have a foreign capital, they will definitely not be swallowed by bureaucrats.

However, the modern management system is also bad for the Zhao family, that is, it will gradually lose control of many subordinate enterprises in the future.

Because the faster the enterprise develops, the more it needs large-scale financing, and financing represents the increase of share capital, diluting its own share, which is nothing, but over time, Zhao's control over its subordinate enterprises will become weaker and weaker. Of course, the total assets will certainly increase.

I have to say that Zhao Dongyun's intention to turn Fuyuan Machinery Factory into a Western-style modern enterprise has buried the root of the independence of Fuyuan Machinery Factory.

But then again, without those modern management systems, Fuyuan Machinery Factory could not develop so rapidly, then small shareholders would not try their best to compete for more shares.

This situation is a good thing for Zhao Dongyun and even for the whole Beiyang system. The major customer of Fuyuan Machinery Factory is the Beiyang New Army. If the Fuyuan Machinery Factory is further expanded to create more rifles and even new artillery, heavy machine guns and other weapons, a high-level Beiyang general led by Yuan Shikai is welcome. This is also the fundamental reason why the Beiyang system has provided political protection for Fuyuan Machinery Factory in the past two years and in the future.

Yuan Shikai doesn't care whether Fuyuan Machinery Factory makes money or not, but Fuyuan Machinery Factory must produce a continuous supply of weapons. If anyone destroys it and affects the expansion plan of the Beiyang New Army, Yuan Shikai will be the first not to let him go!

The operation right of such a Fuyuan Machinery Factory is fully controlled by the board of directors. Even Zhao Chenbin, the chairman, cannot make arbitrary decisions, so Zhao Dongyun's desire to let Fuyuan Machinery Factory expand the production of shells is not something that can be done with his mouth open.

However, the direct intervention does not mean that Zhao Dongyun can't affect Fuyuan Machinery Factory. At least Zhao Chenbin is still the chairman of Fuyuan Machinery Factory. Although it is impossible for him to let Fuyuan Machinery Factory give himself cannonballs out of thin air, he can achieve his purpose by increasing orders and moving orders to the front for production.

At the same time, the increased orders will further lead to insufficient production of Fuyuan Machinery Factory, which will force the board of directors to increase continued investment in production lines such as shells and bullets.