Global Tycoon: You Call This A Small Achievement?

Of course, He Zhou is interested in acquisitions. The future of the insurance industry is far greater than that of the general industry.

If banks are like old hens that can lay eggs, then insurance is definitely the golden eggs.

Many people know about Buffett, but few people understand that Buffett started out in the insurance business and then turned into a diversified investment group.

If you own a huge insurance company, it means that you will have a steady stream of cash flow.

Therefore, this opportunity must not be missed!

Although the main business of this Tai'an auto insurance company is auto insurance, and the types are relatively single, it still has a bright future.

Apart from anything else, there are not many families owning cars in Xiangjiang now, but as Xiangjiang's prosperous era continues to advance, the number of cars owned will definitely achieve a qualitative breakthrough.

He remembered that in the late 1980s, our per capita GDP surpassed that of the UK. At that time, what was the average number of cars owned by 100 households in the UK, and how many cars did it have in Hong Kong?

Even if it’s just car insurance, the future of Taian car insurance is very bright.

"In this case, I will arrange for someone to check the balance sheet tomorrow, and I will ask Liang Sheng to help."

"Okay, I'll ask Tai'an Auto Insurance to prepare the relevant detailed materials first." Liang Wendao nodded.

The investment department of HSBC is taking action, and He Zhou is also not idle. He will not believe HSBC's words.

Soon, the investigation related to Taian Auto Insurance appeared on his desk in the form of an investigation report.

Tai'an Auto Insurance was established in 1974 and is mainly engaged in auto insurance underwriting business, including auto third-party insurance and comprehensive insurance. Its main customers are taxi and public light bus owners in Xiangjiang.

It lasted five years, and the performance in the first four years was good. In the last year, after the founder was critically ill and hospitalized for recuperation, the company was handed over to professional managers.

It is estimated that the founder of the company has a strong distrust of professional managers. Within one year, three professional managers have been changed. This has caused the phenomenon of Taian Auto Insurance gradually falling into the queue as the auto insurance industry becomes more and more competitive.

But in general, Tai'an Auto Insurance is considered to be a very strong presence in the insurance industry in Xiangjiang.

The company's current liabilities are HK$100 million!

Of course, the assets and liabilities of the insurance industry are different from those of general industries. Taking banks as an example, if the total deposits of bank depositors are 100 billion, then this 100 billion is the bank's liability to deposit customers.

The liabilities of insurance companies are aimed at insured customers. If a customer who buys insurance meets a series of regulations that comply with the insurance agreement, then the insurance company will have to spend money to pay compensation.

The total assets of Taian Auto Insurance are now HK$55 million, and the net assets are HK$5 million.

In addition, Taikang Auto Insurance also holds stocks of many listed companies, corporate bonds, etc. Most of these assets are in losses.

The reason why Taian Auto Insurance is in trouble is that the stocks and bonds it holds offset its own assets of more than 20 million Hong Kong dollars.

Although on the surface Taian Auto Insurance has not fallen into insolvency, the crux of the problem is that the insurance industry has to pay reserves.

After being mentally prepared, He Zhou took Li Bowen, accompanied by Liang Wendao, to Xiangjiang Central Avenue the next day to meet with the founder and main person in charge of Taikang Auto Insurance.

"He Sheng, I have admired him for a long time!" the founder of Taikang Auto Insurance said very politely with a slightly sick complexion.

"Mr. Sun, you're welcome. I'm a straight-laced person, so don't talk nonsense. Please show me my financial situation first!"

He Zhou raised his hand, "If it's appropriate, then we will sign the equity transfer agreement today and complete the remittance procedure today!"

"He Sheng is really quick to talk."

A group of people were walking and chatting, talking and laughing.

In addition to Mr. Sun, a group of small shareholders who had little say in the matter also came forward one by one to see him.

On the other hand, the legendary third professional manager never showed up. He was probably kicked out.

Unlike in later generations, 99% of mainland professional managers will engage in pornographic enterprises. In fact, the proportion in Xiangjiang is lower, about 70%. If you are more cautious, it is not actually very dangerous.

As for European and American society, the professional manager industry is developing rapidly. If nothing else, a cool guy can take Apple away!

It is said that since Cook took over, Apple has been lackluster in the field of innovation, but the unavoidable reality is that Apple's revenue, profits, and market value have increased significantly in the past ten years.

Even with such a huge size, many companies cannot match it in terms of growth rate.

Cook is the best successor to Joebus, bar none.

After some understanding, He Zhou was silent for a while and said: "Mr. Sun, to be honest, Taian Auto Insurance has not been listed yet, and most of the stocks and bonds it holds are negative assets, which are shrinking almost every moment! "

"So when it comes to valuation issues, some discounts will be made accordingly."

After taking the vaccination, He Zhou made a gesture and said softly: "One price, eight million Hong Kong dollars!"

Anyway, he couldn't figure out why the professional managers of Taian Auto Insurance bought so many junk stocks and bonds. He wouldn't believe it even if he said there was no way to do it.

However, this has nothing to do with him.

Once the acquisition is completed, he will immediately sell these junk stocks and bonds, even if it means breaking his bones.

With these junk assets in hand, apart from continuing to make losses, there is no prospect of appreciation at all.

"."Eight million Hong Kong dollars?"

Mr. Sun was so anxious that he almost rolled his eyes. He held He Zhou's hand and begged again and again: "He Sheng, this is too low!"

You know, more than a year ago, Taian Auto Insurance was on the verge of being listed. Once listed, the market value would be 20 to 30 million Hong Kong dollars, which would basically be at the bottom of the top 500 companies in Hong Kong.

Besides, including himself and a group of small shareholders, sharing the eight million, isn't this a joke?

He Zhou shook his head, "Taian Auto Insurance itself doesn't have much of a problem. If there weren't those negative assets, it wouldn't be wrong to give you a valuation of 20 million Hong Kong dollars.

"It's just that Tai'an Auto Insurance holds too many junk stocks and bonds (okay Zhao). They are compiling them all the time. When the stock price continues to fall, the assets will continue to shrink. Maybe it won't be long before Taikang Auto Insurance's assets , it becomes a negative number!"

He racked his brains and couldn't figure out what kind of professional manager would buy so many stocks and bonds that looked like they had no future at all.

Is it because of high dividends and high interest rates?

But the bonds of those unknown junk stocks and junk companies can default in just an instant, which is as cheating as the Mark Six Lottery!

"He Sheng, please raise the price again. I will rely on this money for the rest of my life!" Mr. Sun held his hand and begged bitterly.

"Ten million Hong Kong dollars!"

"As long as 10 million Hong Kong dollars, sign the agreement now, and the company will be yours immediately!"

"No, I will give you 9 million Hong Kong dollars at most," He Zhou refused firmly: "I will give you a quarter of an hour to think about it. If you want to sell it, sign it immediately, otherwise we will not wait!