第3节:老板八大财务难题(3)
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科利华公司通过大手笔的运作使《学习的革命》一书销量达几百万册,创造了中国图书市场前无古人的奇迹,该公司也因此获利颇丰。龙腾小说网ltxsba.com
就在科利华公司爆炒《学习的革命》的时候,有一家上市公司陷入了困境,这家公司就是阿城钢铁公司,是黑龙江的一家乡镇企业,虽然很早就上市了,但由于行业整体不景气,经营基本陷于停顿。
1999年初,经过双方洽谈,科利华公司斥资1?34亿人民币,以2?08元/股的价格购买6420万股“阿城钢铁”,占这只股票流通股总数的28%,成为其第一大股东。原来的第一大股东——阿城钢铁集团拥有“阿城钢铁”25%的股权,成为第二大股东。阿城钢铁公司反过来斥资1亿元,购买科利华公司的专利技术。科利华公司实际只花费3400万就收购了阿城钢铁公司。
1999年4月19日,该股票价格上涨至17?17元/股,科利华公司所持股票增值9?68亿元。1999年8月6日,该股票价格上涨至31?35元/股,科利华公司所持股票增值18?79亿元。
企业赚取利润有许多种方式,大部分企业赚取的是产品利润。企业发展到一定阶段以后,要想做强做大,面临着资金短缺的问题,也面临着改变赢利模式的问题。上市是解决这些问题的一个很好的方式,科利华公司就很巧妙地利用了这一方式。虽然科利华公司从目前的市场表现来看不尽如人意,在借壳上市之后也出现了许多问题,但我始终认为,仅从借壳上市的这个过程来看,它还是非常成功的。
作为中关村的一家民营高新技术企业,科利华公司通过对《学习的革命》的炒作,把自己的知名度炒了起来。为了进一步发展,宋朝弟很想上市以筹集大笔资金,但当时国家对民营企业上市控制很严,于是宋朝弟开始寻找借壳上市的机会。与此同时,阿城钢铁公司陷入重重困境。这样,一个困难重重,一个寻找出路,双方一拍即合,于是就有了案例中描述的那一幕。在本案例中,实际上发生了两笔交易,科利华买阿城钢铁,阿城钢铁又买科利华,两者相减,科利华公司实际上仅花了3400万就买到了阿城钢铁这样一家上市公司。
通过这次收购,科利华公司成功地实现了上市的目的。相对于“阿城钢铁”原来的业务而言,科利华无疑是一种优质资产,原来是钢铁题材,现在是软件题材了。“阿城钢铁”从普通企业变成高新技术企业,因而该股票受到市场的追捧。1999年8月6日,经历了连番暴涨后,该股票价格达到31?35元/股,科利华公司所持股票增值18?79亿元。用财务语言讲,科利华公司赚取的不是产品利润,是资本利润。
这一案例给了我们很大的信心和启示:成功的财务管理能够给企业带来财富增值。所以说,老板经营的思路一定要开阔,如果仅仅盯着产品利润,很难获得像科利华公司这样大的资本利润。
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