"Split the stock and go public?" Guo Zhengyu couldn't help but asked repeatedly.
He could probably understand the meaning of the stock split, as Feng Ziying had laid a lot of groundwork before.
The Wusongkou Shipyard, which is worth 600,000 taels of silver, is worth 60,000 taels per share. Looking at the entire Jiangnan, not many people can buy it, and those who can buy it may not be interested in this business.
If 10% of the stock is divided into ten shares, one share will be 6,000 taels. Not to mention Jiangnan, even in Yangzhou, Songjiang, and Suzhou, the number of people who can get 6,000 taels of silver will be much greater, but it is still not enough. After all,
Six thousand taels is not a small amount, it is equivalent to the entire assets of a moderately wealthy household.
But if a 10% share is divided into a hundred shares, or even a thousand shares, and one share is only sixty taels or sixty taels, then the number of people who can get it will increase exponentially, as long as they are a little interested, or not interested.
, people with a gambling bent or some spare money might be interested.
Six taels of silver, for ordinary poor people, is half a year's livelihood, but for landowners in Yangzhou, Suzhou, and Songjiang, it may be just a month's pocket change, and for some workshop owners and scholars, it is just
Two months of expenses can be collected by saving just one province.
So what does going public mean?
What would happen if the shares of Wusongkou Shipyard were split into 60,000 shares at a price of 10 taels per share, and could be bought by landowners and businessmen from all over Yangzhou, Suzhou, Songjiang, and even Jinling, Changzhou, Ningbo, and Hangzhou?
Sample?
Feng Ziying explained the stock split clearly and gave a concise introduction to the listing transaction.
"If one share is sixty taels of silver, I think in the Jiangnan mansions, there are at least tens of thousands of people who can afford twelve hundred two hundred taels of silver, right? Those who are rich and interested can buy thirty or fifty shares or
One hundred shares. Those who are not interested but have a few small coins can also buy ten or eight shares to try their luck. Accumulate a little and make a lot. A share of six hundred thousand taels of silver is one hundred thousand shares for one person.
It is actually easy to buy thirty or fifty shares, especially when the Zhuo family is willing to buy most of the shares and act as the major shareholder."
Feng Ziying introduced it in detail, and he also conducted research and consideration on this issue for a long time.
"Let's take Wusongkou Shipyard as an example. We can first analyze and judge its business in the past three years. For example, from September of the ninth year of Yonglong to September of the twelfth year of Yonglong, I found someone to make a statistics on the entire Beijing operation.
,·······》
"From the ninth year of Yonglong to the tenth year of Yonglong, a total of fourteen ships were built. The total cost was 72,600 taels, and the profit was 19,800 taels. The profit rate was about 30%. During this period, orders were received
Thirteen ships, the estimated cost is 75,500 taels. From the 10th year of Yonglong to the 11th year of Yonglong, a total of 16 ships were built and shipped. The total cost was 88,300 taels, and the profit was 6,800 taels.
, the reason for the sharp decline in profits is that its purchase of land and the renovation of shipyards and wharves have further improved its shipbuilding capabilities. During the period, its orders have also increased significantly to 18 ships, estimated at one hundred and two thousand three hundred taels,..."
Feng Ziying tried his best to simplify the financial data and system. Fortunately, Guo Zhengyu was also an expert. Although there were many things he didn't understand, he was not ashamed to ask questions and had to understand every question. This also impressed Feng Ziying.
"So it can be seen that Wusongkou Shipyard's shipbuilding capacity has steadily increased, and its own assets have gradually expanded from 490,000 taels in Yonglong 9th year to 600,000 taels in Yonglong 12th year. There is also some so-called goodwill appreciation here.
This is what we commonly call credit appreciation. People trust Wusongkou Shipyard more that the ships built by it are of good quality and can be delivered on time. Their scale is getting bigger and their credibility has improved. Therefore, even though they only invested less than 50,000 taels,
Fixed asset investment, but received a total added value of 110,000 taels,..."
"The profit rate has probably remained at about 30%, without much change. But if anyone invests 600 taels of silver, which is one thousandth of the total shares, according to calculations, Yonglong's profit in the 12th year will be 20,000
Three thousand five hundred taels, he should get twenty-three and a half taels of silver. At the same time, the shipyard's assets have increased from 540,000 taels to 600,000 taels. In theory, he can also get sixty thousand taels of the increased value of the 60,000 taels.
value-added income,
In total, he received a total income of eighty-three and a half,·”
It's a little more complicated, but Guo
Zhengyu still understood.
"Is there any bank in the world where you can deposit a thousand taels of silver and give you an interest of 140 taels of silver every year?" Feng Ziying asked in return.
"Ziying, you have simplified the problem. Yes, according to what you said, the Wusongkou Shipyard is indeed worthy of investment. With the increasing prosperity of maritime trade, the shipbuilding industry will indeed have a long period of prosperity, but once
These people who come here to buy stocks only buy a few hundred or a thousand shares. How do they know how the shipyard will perform in the future? What if the people here collude to harm the public and enrich private interests? There is also this secretly falsified accounting that clearly made a profit of 20,000, but said it was a loss.
What about five thousand? What will they do?"
Guo Zhengyu was also an experienced strategist, so he quickly found out the problem here and asked about it.
"I have also considered these issues, so my suggestion is that since it is a pilot project, for example, Wusong Shipyard can invite the Zhuo family, who have been engaged in this industry, to purchase the largest number of shares and act as the major shareholder, and also be responsible for the operation. This solves the problem of no one taking the lead.
Regarding management issues, these small shareholders can also join forces to hire people who understand financial management to station in the shipyard and do nothing else but supervise audits. They can even secretly send people to quietly recruit workers to supervise. What a small expense.
Compared with their investment, it is nothing to mention, it is absolutely cost-effective,..."
There must be many specific details involved here, and Feng Ziying can't think about it alone. He now gave some of his ideas to Gu Dengfeng and asked him to help him comprehensively consider the operation.
Although Gu Dengfeng is not as long-term as Wang Wenyan and Wu Yaoqing, he is his most important helper in contacting merchants from Shanxi and Jiangnan. Basically, he has to inform the merchants through Gu Dengfeng of any ideas and intentions he has.
The wishes and considerations of the businessmen will also be conveyed back through Gu Dengfeng.
This time, Feng Ziying's intention was to dispose of such business assets in Jiangnan to see if the modern Dutch East India Company could be used as a template to form a joint-stock company and the Amsterdam Stock Exchange, and first pilot it in Dazhou.
stand up.
Feng Ziying had the impression that if her memory from her previous life was correct, the Dutch East India Company had been established for several years now, which meant that the world's first joint-stock company that could trade and transfer stocks had been established.
However, this company has only been established for a few years. The influence and strength of the Dutch East India Company cannot yet be said, but with extensive social capital support, such a colonial company will definitely develop rapidly. With the pace of Dutch businessmen,
With a global reach, this Asia-focused company’s future impact on Southeast and East Asia cannot be underestimated.
Similarly, the establishment of the Amsterdam Stock Exchange should only be a matter of one or two years. Although it is still a trial and error period, the Netherlands is in the lead, and the Great Zhou Dynasty must not fall behind.
The sweeping Age of Discovery is about to enter its heyday, and the Great Zhou Dynasty must not fall behind in this wave of global colonization.
Now the Wusongkou Shipyard is equivalent to a pilot project similar to that of the Dutch East India Company, and Feng Ziying also plans to establish such a securities or stock exchange in Yangzhou or Nanjing.
While promoting industrial and commercial enterprises to use this method to absorb the money hidden in the cellars of the rich people in the south and north of the Yangtze River, it will not only earn them huge profits, but also allow them to gradually transform into industrial and commercial aristocrats.
Absorb more industrial funds for various industries to promote development.
Guo Zhengyu worked hard to digest the new things that Feng Ziying had poured into his mind. Even though he had some knowledge in these aspects, but he suddenly accepted so many things, he couldn't catch his breath for a while, and he had to slow down.
Think slowly, digest carefully.
However, Feng Ziying's topic obviously doesn't stop there. He wants to introduce all the content at once and let Guo Zhengyu adapt to it first. Even if he can't digest it for the time being, there will be a process and time to buffer it. I believe Guo Zhengyu will gradually accept it.
"Besides these, I am also thinking about another issue, which is to allow the company's shares to circulate freely..." Guo Zhengyu almost fainted, "circulation, what do you mean?"
"In other words, the shares of Wusongkou Shipyard will be divided into a certain number of shares through a special production method that cannot be copied.
When made, it is similar to a bank note, such as one for one hundred shares, one for ten shares, or even one for one share. This kind of note can be called a stock!..."
"Stocks?!" Guo Zhengyu pondered: "You mean these stocks can be used for public trading, which means they are unsigned? What if they are stolen?"
"Although there is no signature, there will be a number. My idea is that the government should set up a special trading management agency. For example, Wusongkou Shipyard has registered as a joint-stock company and issued stocks. The par value of these stocks needs to be registered with the trading management agency.
, will be recognized and protected by the government. The same transaction will also be carried out in the institution designated by the government. In this way, the equity transfer registration will be recognized, and the trader must also have certain qualifications. For example, you cannot be nameless.
Surname, or prisoner,..."
Feng Ziying also thought about it while introducing it, and even needed to temporarily add some details. There were many things that he himself had not considered maturely, but the time was too tight and he could not delay it.