Chapter 774 Patriotic Overseas Chinese

"I understand that Mr. Yang can contact me if you need anything. In addition, regarding Glencore's oil storage business, after I communicated with Haihang, they expressed their willingness to buy it at a price of 1.6 billion US dollars."

Yang Cheng was thoughtful, it seemed that the other party already knew what he and William were involved in, and the high price was probably the compensation given by the other party. Maybe in the other party's view, William's contacts were needed to buy a lithography machine. The royal family and the Dutch royal family are close relatives.

After figuring this out, Yang Cheng didn't puncture it, let alone being hypocritical, and smiled freely, "Thank you, Ms. Zhang, I'll send someone to contact Haihang Group when I get back."

Everyone understood that Yang Cheng and William conservatively estimated that they could make a net profit of 200 million U.S. dollars from this single business. If William worked a little harder and lowered the price to 1.3 billion, the profit could be doubled by a small amount.

The business is over, and there is still a little time before the fraternity meeting. Consul Zhang doesn't mind chatting with Yang Cheng, "Young Master Yang, I don't know much about business. It stands to reason that the oil storage business is also a part of Glencore's business. One of our core businesses, why would you sell it?"

Yang Cheng leaned on the sofa, shrugged and answered easily, "Yes, as a global trading giant of crude oil commodities, Glencore is not only highly professional in the field of crude oil storage and logistics, but also has abundant resources. No reason to sell it.

But Glencore suffered from severe expansion 'hangovers'. "

Consul Zhang felt very novel about Yang Cheng's words, and couldn't help leaning forward, showing interest, "How do you say?"

"The fundamental reason why Glencore is willing to sell its crude oil assets is to alleviate the financial problems caused by the company's early over-expansion, and to some extent it is inseparable from State Z.

As a world-renowned commodity trader, Glencore began to improve its energy industry chain layout when the commodity bull market came after 2000, and extended the upstream industry chain by aggressively acquiring resources such as mines and oil fields.

After 2006, the world implemented the quantitative easing monetary policy. Glencore judged based on the past policy practices of ZF in country Z that as ZF increased its investment in infrastructure and other industries, the demand for commodities in country Z would continue to rise in the future.

In this regard, Glencore also aggressively expanded through borrowing after 2009, and acquired a large number of commodity resources such as crude oil. However, after the new leadership of country Z took office in 2013, it gradually shifted the focus of economic development to the service industry and consumption. , Compressing infrastructure investment, the economic growth rate of country Z has also begun to decline, which caused Glencore to make major mistakes in its early strategic expansion.

Then this year, commodity prices plummeted across the board, forcing Glencore to choose to sell its assets and shares in order to improve its balance sheet, maintain its corporate reputation, and of course the most important thing is to maintain its stock price. "

Consul Zhang nodded in agreement, "Then what do you think about Haihang's huge investment in acquiring the oil storage business? Do you think it's not worth it?"

Yang Cheng's heart shuddered. It seemed that the reason behind the push for Haihang to go overseas for acquisitions this time was not that simple.

After blinking his eyes, he had an excuse, "Actually, from the perspective of Haihang itself, its strategy of seeking development through mergers and acquisitions has indeed played an important role in the growth of the company, and has achieved good economic benefits. More importantly, in the Against the background of RMB exchange rate fluctuations, increasing diversified asset allocation is regarded as an important strategy by many companies. Judging from the timing of corporate US dollar asset allocation, now is also a good time.

At the same time, with the slow recovery of country Z's economy, its consumption demand for petrochemical energy will continue to increase. As a large crude oil consumer, it is understandable for Haihang to step up the layout of the petrochemical energy industry.

Although the world has been actively promoting the development of new energy and clean energy in recent years,

However, considering various factors such as production capacity, cost and supply stability, crude oil will still occupy an important place in the global energy supply for a long time to come. After Haihang merged with Glencore’s oil storage and logistics business, the cost will inevitably increase. Compression, and its performance will also achieve good development with the recovery of the global crude oil market. After all, OPEC will not allow oil prices to continue to fall.

Of course, after the acquisition of the oil storage business, the follow-up operation is the key. Warehousing and logistics assets are similar to commercial real estate. The initial acquisition cost is relatively high, but the follow-up management and operation cost is not large.

After Haihang completed the acquisition of Glencore, how to achieve talent, management and other aspects of team integration and efficient management is an important issue that Haihang needs to face. After all, history has shown many times that the overseas mergers and acquisitions of Z enterprises The main reason for the problems is the cultural conflict between the parent company and the employees of the subsidiaries. If this problem is not solved well, I am afraid that it will only lose in Maicheng in the end.

More importantly, how to ensure the stability of funds while Haihang is aggressively promoting its overseas M&A strategy? As far as I know, although HNA has strong financing capabilities, it is hard not to doubt its liquidity through continuous mergers and acquisitions over the years. At the same time, although the market is optimistic about the future development of the crude oil industry, under the current economic situation, if the crude oil industry If the chain fails to achieve substantial recovery, it will also put greater pressure on the company's cash flow and other aspects.

To sum up the above factors, I commend Haihang for the purpose of this acquisition, but I am holding a wait-and-see attitude towards its follow-up operations. Of course, from the perspective of descendants of Yan and Huang, I personally very much hope that Haihang will cooperate with Glencore this time. , can achieve a win-win effect, which also provides valuable experience for other Z country companies to go overseas in the future. "

Consul Zhang and Minister Wu applauded immediately, "To be honest, Mr. Yang, no, you are too out of touch. Please allow me to call you more affectionately, Xiao Yang. Your views are not inferior at all. For those economics professors in China, if you were not speaking standard Mandarin, I would have thought that you had received the most complete and systematic elite education in country Z since childhood. What kind of education you receive will eventually make our motherland prosperous and strong!"

Yang Cheng smiled, and readily accepted the other party's compliment, "It's just some humble opinion, not brilliant, let alone comparable to professional professors, as you said, the reason why we overseas Chinese can travel in the Western world is because It is because there is a strong motherland as the backing, no matter how miserable we are, our motherland will not hesitate to tolerate it. Just for this, I will do my best to do what I can for the motherland. I am obliged!"

"Okay, Xiao Yang, I will report what I said today to the senior leaders verbatim. I hope to have more exchanges and cooperation with you and the Yang family in the future. I will leave the matter of the lithography machine to you. "

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