Distant canteen.

Keeping absolutely quiet at this moment, everyone is looking at the documents sent from afar.

In fact, there are not many files, it's very simple.

Yuanfang New Retail Group!

Cut out the online far-far shopping malls, go independently, integrate into the new Gome system, and form a new offline retail group.

The brand new offline retail group brings together the series of retail companies such as Fargo, Carrefour, Gome, Times, Suguo, Yong'an, Kelong...

As early as around September 2008, when Yuanfang and Longhua exchanged shares.

Yuanfang Retail Group, without adding Gome and online, has exceeded the 40 billion mark.

After that, the distant places continued to expand and continued to invest.

In addition, there are many long-distance actions in the later period, their reputation is getting bigger and bigger, and the value of fixed industries and brands has increased. In the past six months, the value has increased a lot.

Today's Far Retail, without online and Gome, is definitely worth 50 billion.

Last year, the revenue of Yuanfang Supermarket reached 110 billion yuan.

Although revenue is not a standard for measuring the value of a company, it is enough to roughly estimate something.

Revenue is 110 billion and profit is close to 10 billion.

At this time, if Yuanfang Supermarket is listed, even at a price-to-earnings ratio of 10 times, it will be fine to make a market value of about 10 billion yuan.

Of course, market value does not represent assets, but market value is also a reflection of value.

Nowadays, Yuanfang Supermarket plus Gome, the two are combined, and the total revenue is nearly 200 billion.

This is an authentic offline retail giant group!

Last year, Suning, ranked second and Bailian, third, combined, have only about 200 billion in revenue.

In any industry, the value of first and second cannot be equated.

If Suning and Bailian’s retail businesses are worth 100 billion, although the revenues of the two are similar, the value is impossible to be equal.

Just like the pp in the distance, although it is weaker than QQ, it is not much weaker until now.

However, the first is the first. Tencent’s main business is instant messaging, but Tencent’s market value is as high as US$20 billion.

Yuanfang pp is now listed separately, let alone US$20 billion, it would be a big deal if it could have US$10 billion.

Therefore, after the offline system of Yuanfang Retail Group was reorganized, the total assets of Gome were only about 100 billion yuan.

Among them, the liabilities are close to 40 billion yuan, and the net assets are about 60 billion yuan.

When he acquired Gome, Li Dong still owed a lot of money, which were all included in the debt of offline retail groups.

A total of 100 billion yuan and a net asset of about 60 billion yuan are not considered undervalued.

However, at this moment, the documents given by the distance have given a new valuation.

In addition to Gome, Yuanfang offline retail system with a total of 2,108 stores, Yuanfang gave a valuation of 100 billion!

Net worth!

This is 170% higher than actual assets!

Corporate value is not calculated like this!

The reason why net assets are calculated using net assets is that the actual value of the enterprise.

It is just a joke that the Far East has given such a high asset statistics now.

Chu Dequn looked at it for a while and saw that the others were silent, he couldn't help but frown and said, "Mr. Li, this is a bit of a joke.

We admit that the influence of the distance is very great, and it is not an exaggeration to say that it is first in China.

But in fact, the retail system in the distance has not been integrated yet, and Gome and the distance have not produced the effect of 1+1 greater than 2.

If you complete industrial complementarity and resource integration.

You said that Yuanfang offline retail is worth 150 billion and its net assets have exceeded 100 billion mark, I agree.

But not now!

Carrefour and Gome's stores are still in a state of division, and have not caused actual industrial expansion, and your profits have not reached a balanced state.

At this time, if you give such a valuation and let us recognize it, doesn’t Mr. Li feel it’s a bit too much?"

Chen Guojun also looked ugly and said, "Mr. Li, Mr. Chu's meaning is not just Mr. Chu's meaning, but the meaning of all our companies!

We can agree with some of your views, and even give us our channels to you to master them from afar.

However, in terms of fundamental interests, the distant places still want to maximize their interests, which is beyond our expectations.

100 billion net assets, to put it bluntly, plus the Far East Mall, we barely recognize it.

Now that the distant mall is eliminated and the valuation is given, the distant place has no sincerity, I cannot accept it!"

"Yes, Mr. Li won't really want to use the estimated value of this asset to tell us about cooperation, right?

It is expected that Mr. Li, you said Yuanfang Retail is worth one trillion in three years, but I have no objection.

But now, we still speak based on the facts.

What should be, what should be?

The same is true for us. It is as much as we should. At worst, we will make some concessions in the brand value.

If you make any concessions, you won’t be able to make this point.

Mr. Li, when you eat meat, you always have to give us some soup, right?

I find it difficult to accept the sharing of benefits you proposed by yourself, but now I have given such a plan."

“…”

Everyone had a heated discussion, and everyone looked disagreeable.

Li Dong said calmly: "Everyone, everyone should know whether the value of the remote offline retail system is 100 billion.

In the distance, there are many own industries and the proportion of fixed assets is also very high.

With more than 2,000 stores, more than 12% of our own properties are available.

This part of the industry was originally planned to be handed over to Dongyu Real Estate, so that some debt disputes can be avoided.

The management in the distance has proposed several times before, but I rejected it.

Why do I reject this?

It is because we must maintain the integrity and competitiveness of remote retail!

More than 12% of owned properties, complete supply chain channels, and you actually have to add additional value of warehousing and logistics.

Although these two are not in the remote retail industry, and online, although they are not in it, does the added value really not exist?

Distant retail is not an isolated existence, it is just a link in the entire link.

As long as other industries in the Far East are still there, Far East Retail can enjoy special treatment and competitiveness surcharge.

If I simply calculate the value of fixed assets, I will lose money.

I understand that you are considering and measuring for your interests.

However, everyone should also consider it from my perspective!

As an integrated industry, do you think Yuanfang Retail will be distinguished from the entire group system?

Since you have enjoyed it, that is the value.

Is the total assets of 140 billion really high?

Yuanfang’s debt ratio is not high, which is also one of the performances of high-quality companies…”

Li Dong boasted vigorously, but everyone was reluctant to agree.

With just a few words from Li Dong, the value of the entire group increased by 40 billion. That money is really not money!

No matter how great the added value is, it is less than 40 billion!

Has the investment of a remote logistics company 40 billion yuan so far?

According to Li Dong's algorithm, a Yuanfang Retail offline group alone can match his total assets in November last year.

So what are the industries such as Yuanfang Technology, Yuanfang Mall, Yuanfang Logistics, Dongyu Real Estate, and Weibo?

After earning so much in a few months, Li Dong simply went to grab it.

No, it's not that fast.

Of course, everyone subconsciously ignored Li Dong's reduction in Weibo equity. This is Li Dong's business and they will not consider it.

Everyone was talking, and several senior executives from afar also whispered.

Sun Tao whispered: "Who made the valuation of 140 billion?"

Wang Yue shook his head, Chen Lang coughed lightly and said, "I did it, but first explain that the estimated value I gave was 120 billion yuan. Then I went to the chairman's office and it became so much."
To be continued...