When Li Qingning first established the Chamber of Commerce, the capital was only 500,000 yuan in spirit stone coins, and the rest was borrowed from the second generation Immortal of the Wuliang Sword Sect. Even if Yang Lu took over as the biggest creditor, Qiu Xiang, the second biggest creditor,
After promising to give up debts, the initial capital of Qingning Chamber of Commerce was less than 1.5 million spirit stone coins. However, after Qingning Chamber of Commerce experienced frenzied expansion, its total assets may not even exceed 300 million!
Three hundred million assets versus one and a half million capital.
If we look at it according to this rough algorithm, the asset-liability ratio of Qingning Chamber of Commerce is almost 995.
Of course, the Qingning Chamber of Commerce has still made some profits over the years.
If you add up the Yangjiang Port project, the Luanshicheng mining project, and the original Haiya Chamber of Commerce supplier project, the total profit of the Qingning Chamber of Commerce in the past three years is almost two to three million. If the cost method is not used, but the market price
If the assets of the Qingning Chamber of Commerce cannot be revalued, then the income gained by the Qingning Chamber of Commerce from the appreciation of assets will be almost tens of millions of spirit stone coins.
But even according to the most generous calculation, the net assets accumulated by the Qingning Chamber of Commerce on its own will not exceed 30 million, and the asset-liability ratio is still as high as over 90.
Such a high leverage ratio is naturally attributed to the Qingning Chamber of Commerce's several frenzied leverage-increasing behaviors.
At that time, Li Qingning used 500,000 yuan in capital to raise nearly 10 million yuan in loans. In fact, he had directly increased the leverage by almost 20 times. Later, in order to launch the Mayangjiang Port project, Yang Lu borrowed 10 million spiritual stone coins from Haiya Bank.
, during this period of time, Yang Lu successively used the anti-corruption work within the Chamber of Commerce to receive benefits in Tianshu City, extorted money from various major forces, and obtained nearly 10 million yuan in Lingshi coins in cash.
And Yang Lu didn't let the cash lie in his account.
He immediately invested all the money in the construction of the Qingning Chamber of Commerce's ocean transportation capabilities. With more than 10 million spirit stone coins as a deposit in cash, he successively invested in Haiya Chamber of Commerce, Northern Lights Chamber of Commerce, Huaishan Chamber of Commerce, and more than ten companies with Haiya City.
The ocean-going fleet owned by the Cultivation Chamber of Commerce, which has trading relationships, is specially used to conduct trade with outlying islands.
Under normal circumstances, let alone tens of millions of spiritual stone coins, even if Yang Lu had 100 million spiritual stone coins, he would not even think of doing business with these ocean-going trading giants, but who made Consultant Yang become a golden brand in the outlying island area?
, as long as the Qingning Chamber of Commerce is willing to pay one-tenth of the capital to prove that he is not joking, everyone is eager to let him take a share in order to obtain the franchise rights of the outlying islands as soon as possible. As for the remaining capital and interest, they can completely trade from the outlying islands.
Future profit sharing will be paid out.
In addition, the Qingning Chamber of Commerce also ordered a private fleet from the Haiya Chamber of Commerce Shipyard.
Taking advantage of the strong position of the Haiya Chamber of Commerce, the Qingning Chamber of Commerce did not actually spend much money. Instead, it frantically pressed for payment from upstream suppliers, made a bunch of IOUs, and then slowly repaid it after other sectors made profits.
The first ship launched in this fleet was the self-destructing merchant ship that killed Zhu Ziming on an outlying island.
Such a large-scale layout naturally tightens the Qingning Chamber of Commerce's capital chain. Now every time the Qingning Chamber of Commerce makes a profit, He Mingyuan has to worry about which debt to pay off first.
If it weren't for the Qingning Chamber of Commerce's backing to the Haiya system, which prevents various creditors from coming to violently collect debts, and the huge intangible assets of the Qingning Chamber of Commerce in the outlying island areas endorsed her, Miss Li would probably become a cultivator.
Many of the world's leaders are wearing a belt.
However, the Qingning Chamber of Commerce's sky-breaking leverage ratio has benefited greatly from this Lingshi coin crisis.
After all, what the Qingning Chamber of Commerce holds in its hands are real assets, but the liabilities are all denominated in Lingshi coins. If the Lingshi coins depreciate by 50% relative to the physical assets, it is equivalent to the Qingning Chamber of Commerce's liabilities falling out of thin air.
50.
If calculated according to Earth's accounting standards, on the day Lin Jianxing's counterfeit banknote incident broke out, the Qingning Chamber of Commerce made non-recurring profits and losses of hundreds of millions of Lingshi coins. Although this profit and loss could not be cashed out in full immediately,
As long as the Qingning Chamber of Commerce is willing to sell its assets at a discount, it can repay all its debts on the spot, clear its asset-liability ratio, and still have a lot of money left.
But of course Yang Lu would not do such a stupid thing.
After all, the Qingning Chamber of Commerce holds the hardest real assets. When there is an economic crisis, credit will always collapse one by one. When the assets with the worst credit collapse, capital will automatically move to assets with better credit.
Seek asylum.
Take the earth's real estate financing market for example. The first to collapse was p2p, which had the worst credit and was not even protected by law. Then it was the upstream and downstream commercial paper suppliers and real estate companies that completely relied on the real estate company's own credit and went bankrupt.
Shareholders, then it will be the turn of various trust companies and public debt funds. After that, bank financing and bonds with relatively better credit will be affected. Finally, mortgage loans from banks with the best credit will be affected.
And if it is a systemic financial crisis, when assets with poor credit collapse, funds will flow into assets with better credit, which will bring a wave of premiums. For example, gold has the best credit, treasury bonds have the second best credit, and public utilities have the second best credit.
Business stock assets have relatively good credit and often achieve extremely high excess returns in bear markets caused by economic recessions.
The assets under the name of the Qingning Chamber of Commerce are very similar in nature to the public utility assets of the earth. These assets are already the most hard-core assets in the world of cultivation. After all, due to the special financial mechanism, there is no such thing as national debt in the world of cultivation. Instead,
The gold spirit stone has seen the highest price increase among all assets in the past few days, and it is impossible to buy it.
Now that the financial crisis in the cultivation world has come, Yang Lu can't use the hard assets of the Qingning Chamber of Commerce with better credit to exchange the Lingshi coins whose credit has been declining!
Of course, if the crisis continues and leads to the economic collapse of the cultivation world, leading to the collapse of the entire credit chain from bottom to top, then even the strongest assets will be severely affected. For example, the current Haiya Port is already in a semi-paralyzed state. It is estimated that
The situation at Yangjiang Port, which is owned by the Qingning Chamber of Commerce, is not much better. If the problem is not resolved for a long time, the valuation of this type of asset will not be sustainable.
Not to mention the port, if the economy completely collapses, you will not be able to survive even if you stock up a room full of black iron and formation materials. After all, the world of cultivation is also a society with a high degree of division of labor. Without formation masters and weapon refiners participating in market transactions, these cultivation resources will not be able to survive.
It's a decoration.
At that time, no matter what assets you hold, you will not be able to avoid systemic risks. As a member of the Kyushu cultivation world, you can only hope that things will not develop to this point.
Although He Mingyuan is an experienced business talent, he has not received a systematic education, and his understanding of the economic crisis is far less profound than that of Yang Lu. He has only observed certain phenomena that have already occurred.
Hearing Yang Lu's teasing, He Mingyuan followed his words and boasted on the spot: "When you borrowed money from everywhere, I didn't quite understand why you made the financial situation of Qingning Chamber of Commerce so extreme, but now I
I fully understand what you mean. Nowadays, the market is full of people buying assets with Lingshi coins, but there are not many sellers. I have inquired a little with my colleagues, if we sell the equity of Yangjiang Port now
, you can completely cash out nearly 90 million spirit stone coins!"
