Chapter 471 - 216: Have a Good Year

Chapter 471: Chapter 216: Have a Good Year

’No wonder they have to replace the buses so often.’

Liu Deming continued, "Actually, the bus system introduced a battery-swapping system back in ’24. They invested over sixty million yuan, but after running it for more than three years, it only increased the range by 120% initially. Now, it’s not working so well anymore."

Jiang Haibo scoffed, "If they don’t solve the root problem and just rely on swapping batteries and buses, the bus company is still a dead end."

However, Jiang Miao didn’t say anything. Instead, he asked, "How does the city plan to bring in investment?"

"There are two options. First, Yueyun Company sells us their entire 80% stake for one yuan. We take over management and operations, but in exchange, we have to assume all of its debt and ensure the system continues to operate normally."

"The other option is a financial investment. We inject capital to acquire a portion of the shares, with the amount up to us."

Upon hearing this, Jiang Miao shook his head. "We’re taking the 80% stake."

’A financial investment? You’ve got to be kidding me.’

’Either we don’t invest at all, or we take controlling interest and management rights. Otherwise, the bus company will stay in the same sorry state.’

But Jiang Haibo grew anxious and quickly tried to persuade him. "Boss, even if we use our own electricity, we can’t offset a loss of 120 million a year!"

"I know, but I have a solution."

Jiang Haibo didn’t doubt his boss’s words. Instead, he asked curiously, "What’s your solution, Boss?"

"Some time ago, Shuya developed a new type of battery. Its storage capacity is two to three times that of a lithium iron phosphate battery, but its production cost is only a fraction of the latter’s—less than a tenth."

"Really?" Jiang Haibo’s eyes widened.

"The technology is almost fully developed. We can start preparing for mass production after the New Year."

Jiang Haibo immediately suggested, "Boss, why bother with a bus company then? Wouldn’t it be better to just open a battery factory?"

"Haibo, we have to consider the local impact. Besides, the bus company can serve as a testbed. Not to mention, it has a lot of land and supporting facilities." Jiang Miao didn’t for a second believe the bus company’s annual revenue was only 71 million yuan.

’Advertisements on bus stops and the buses themselves.’

’Rental of storefronts at the bus depots.’

’Fares from passengers.’

’Besides, those thousand-plus electric buses would be worth a lot of money even if sold for scrap.’

In reality, Shanmei City didn’t need 1,295 buses. Although there were 108 routes, many of them only ran a few trips a day. The core routes numbered only forty to fifty.

This was a classic case of rigid operations and management problems. The bus company couldn’t afford to remain on the defensive; it needed to go on the offensive.

At the very least, they had to raise the daily revenue per bus from its current level of just over a hundred yuan.

Once the management at Hailufeng Company reached an agreement, the city officials, having been notified, also made swift arrangements.

In less than three days, the handover of the entire bus system was complete. Hailufeng Company acquired the 80% stake held by Yueyun Company for the price of one yuan.

Yueyun Company was also eager to get rid of this hot potato, which was why the process went so smoothly. After all, Shanmei Bus Company had been losing money year after year under their management. If they could have found a buyer sooner, they would have bailed long ago.

At the same time as acquiring the 80% stake, Hailufeng Company announced it would inject 200 million yuan into Shanmei Bus Company, increasing its share to 95%.

Part of this money would be used to pay off nearly 76 million yuan in debt, with another portion going to employees to cover their back pay.

Business Secretary Liu Deming, representing Jiang Miao and Hailufeng Company, arrived with a new management team to take over the bus company.

「At the employee assembly.」

Liu Deming immediately took control. "I’m sure you all know by now that the bus company has been officially integrated into Hailufeng Company. Before I announce the upcoming management changes, the parent company promises to pay everyone their back wages, plus a one-month bonus."

CLAP CLAP CLAP...

Inside the conference hall, the more than three hundred people attending the meeting quickly began to applaud.

At the same time, many people began to whisper amongst themselves.

An old driver smiled and whispered to his coworker, "Looks like we’ll finally have a good New Year."

"So it was Hailufeng Company that acquired us."

"That’s Hailufeng Company for you, really throwing their money around!"

"Heh, so what if it’s Hailufeng Company? Our bus company has been a lost cause for a long time. They probably only took this mess on as a favor to the city," another veteran driver said with a cold expression.

"Yeah!"

"I wonder how many years Hailufeng Company can last."

"Sigh! Just take it one day at a time, I guess!"

Clearly, these drivers were realists. The Shanmei bus system was riddled with problems, and they didn’t believe Hailufeng Company could bring it back from the dead.

"Quiet!" Liu Deming called out sternly.

The hall immediately fell silent.

After a moment, Liu Deming continued, "The new management personnel will be arriving gradually after the New Year. For now, we are only sending in supervisors and finance staff. But let me be blunt: Our boss doesn’t want to dwell on the past. Let’s part on good terms. Before the new management team is in place, I hope you will all seriously consider whether you want to stay or leave. After all, our company’s management is extremely strict."

Immediately after, Liu Deming had the accompanying deputy manager of the inspection department play a video of an announcement regarding how Hailufeng Company deals with corporate "vermin" and "parasites."

At once, some of the people with guilty consciences immediately grew nervous.

Meanwhile, many of the drivers and low-level employees who knew what was going on watched these people with faint, knowing smirks.

Liu Deming’s meaning was perfectly clear: what’s past is past, but he was inviting them to resign voluntarily. Otherwise, they would have to face the consequences.