Chapter 252: Reducing Holdings
"Are you asking me to take you out for hotpot again tonight?" Li Tang asked with a smile.
"Hotpot works too."
Li Xinqi hesitated, then spoke frankly: "Remember when you mentioned wanting a 40–50 million yuan loan to buy Yunding Tower? I told my dad about it. He said if you're serious, you should talk to him directly. So if you're free tonight, maybe you could meet with him and discuss it."
A loan of 40–50 million to buy Yunding Tower?
If she hadn't brought it up, Li Tang would've forgotten all about it. At the time, he'd said it casually, not really meaning it.
He didn't expect her to take it seriously—much less to bring it up with Li Xingchao.
This was definitely a misunderstanding.
"We still owe Shenxia Group several tens of millions. The repayment deadline is fast approaching. I've got to figure out how to get that money first. As the saying goes, you borrow and repay—only then can you borrow again. I need to repay the old debt before thinking about a new one."
"So we're not discussing this for now?"
Xinqi looked very serious. "Shenxia Group's been doing well these past two years. Profits are strong, and the cash flow is abundant. We don't have any major capital-intensive projects at the moment. If you asked for a loan now, I think it would be easy to approve. It's better than leaving a pile of cash sitting in a bank account doing nothing."
Li Tang understood. Inter-company bridge loans were common practice. But getting this one through personal connections—especially through Xinqi and her father—made it more than just a business transaction. There were personal favors involved too.
He wasn't ready to cross that line yet, so he declined politely. "I really appreciate Shenxia's generosity. But with so many loans already on my back, I just can't feel at ease. Let me breathe a bit and pay back the previous one first, okay?"
"Alright. If you want to negotiate a loan with Shenxia later, just let me know and I'll relay it to our management."
Xinqi didn't seem disappointed.
"I'm envious. Shenxia really is loaded."
From what she had said, Li Tang could sense that Shenxia Group was growing stronger. Coal prices were rising, profit margins expanding, and their cash reserves were piling up—almost to the point where they didn't know what to do with the money and were looking to lend it out for interest.
And not just Shenxia. Wukuang Group had also improved significantly since Li Tang first started working with them.
If they didn't have solid cash flow, Niu Fu wouldn't have dared to launch this trade war so aggressively.
All of this indicated one thing: the mining industry was quietly entering a new bull cycle.
Once Xinqi left, Li Tang pulled out the loan agreement and confirmed the due date—about a month away.
If he couldn't gather 50 million yuan within that time, the Gongsun Copper-Gold Mine's mining rights would fall right into Huajin Group's hands.
In a few years, that mine could be worth over 3 billion. Selling it now for 50 million would be a disaster.
Having arranged a time and place to meet with Shazhai Molybdenum's shareholders, Li Tang and He Runqi flew to Huizhou Province.
Lin Feiming was waiting for them at the airport in a company car.
"Li Tang, over here!" He waved excitedly when he saw them.
"Cousin? You're picking us up?" Li Tang was surprised to see him. "Your leg's all healed?"
"Long healed. Steel bones now!"
Lin Feiming patted his previously injured leg. "Come on, get in."
The ride was smooth and quiet—air conditioning, soft music, excellent soundproofing. The inside of the car felt like a different world.
"This sure beats driving a delivery truck. Much safer too."
Feiming was clearly satisfied with his current job. "Minister Dai was busy, so he sent me instead. How long are you staying?"
"Hard to say. If things go well, just a few days."
Li Tang lounged in the back seat.
"Always in a rush. Last time you were here, you left in a flash. I thought this time you'd stay longer so I could take you around."
"We'll see. Too much going on right now."
"Scaling up your business isn't always a good thing—just makes you busier."
They chatted as they arrived at the company building.
The entire floor of the Shazhai Molybdenum office was still sparsely populated. Not many employees, but operations seemed organized and efficient.
Dai Yingchi came to the entrance to greet them. His tall frame carried a naturally calm and commanding presence.
"Director Li, the conference room is ready. The other shareholders will arrive shortly."
He looked solemn, not relaxed at all. "This meeting sounds serious—we weren't given any prep material."
"I brought everything," Runqi said, waving his documents.
"We're here to discuss selling part of our shares in Shazhai Molybdenum," Li Tang said, walking inside.
All the staff stood up when they saw him, their faces filled with curiosity.
Dai had recently hired a number of new employees—most of whom had only just passed probation and had never met the legendary Director Li.
Everyone sat down quietly under Dai's orders, maintaining discipline.
Before long, three main shareholders—Xiao Yongyue, Geng Feiran, and Yu Yong—arrived.
Surprisingly, Liu Shanlong, who had previously backed out at the last minute, also came.
The meeting wasn't held in the conference room but in the general manager's office.
Despite not being used recently, the office was spotless—clearly well maintained.
"I called all of you here today to discuss a major decision regarding Shazhai Molybdenum."
Li Tang looked at Liu Shanlong—the man with the high forehead and the serious expression.
Years ago, Liu had pulled out at the last second, despite already drafting a cooperation agreement. Now, it was widely regarded as a huge missed opportunity—a textbook investment failure.
For just 10 million yuan, he could've owned 16% of a top-tier molybdenum project.
"Mr. Liu was very kind to accept my invitation despite his busy schedule. I really appreciate him making the time," Li Tang said graciously, giving Liu a face-saving gesture.
"Has the mining license been approved?"
Xiao Yongyue, busy with potash business in Tuyug Province, hadn't been closely following the project.
"Not yet."
Runqi, who was handling the license process, shook his head.
Li Tang pulled out an agreement and said slowly, "According to the original terms, my company, Shengtang Holdings, has the right to own up to 51% of Shazhai Molybdenum based on the verified reserves."
Everyone knew this.
The larger the proven reserves, the greater Shengtang's equity—reducing other shareholders proportionally.
"No issue. We agreed to that clause from the start. It's in black and white—we can't go back on it," Geng said. He was a little bitter about only holding 16%, but not as bitter as Liu.
"Anyone opposed to the option clause being activated?" Xiao scanned the room.
"No," Li Tang replied, then stated his purpose. "I plan to reduce my holdings in Shazhai Molybdenum."
"Reduce your holdings?" Geng was surprised.
Yu Yong, the low-key investor from Kunshang Group, also showed some reaction. "Are you pulling out?"
"This is a bit sudden," Xiao added. No one had heard any hints beforehand.
All eyes drifted to Liu Shanlong. It became clear why Li Tang had invited him.
Among the shareholders, Geng represented a listed state-owned company—any acquisition of equity would require a lengthy process.
Yu's Kunshang Group was focusing all its energy on acquiring part of Luoyi Molybdenum—he didn't seem flush with cash.
Xiao's financials were unclear.
Liu's Hongda Group, by contrast, had a strong foundation and had already invested heavily in potash. He was the obvious buyer.
"Any share reduction must be approved by the shareholders," Li Tang continued calmly. "If no one objects, I have two proposals. One: if any of you are interested, we do an internal transfer—simpler and cleaner. Two: if no one's interested, I'll hire a third-party firm to evaluate the mining right and sell the shares at market price."
"You're selling all your shares?" Geng asked, eyes lighting up.
"We're a local state-owned enterprise. If we become the majority shareholder, the licensing process will go more smoothly."
No one disagreed—everyone wanted to hold more shares in China's largest molybdenum mine.
Mining is a gamble, often uncertain. But with a top-tier site, it was a guaranteed win.
"I'm not selling everything," Li Tang clarified. "Just part of it—no more than 17%."
"Still quite a lot."
"No need to fight over it," Geng said. "Copper Nonferrous Group is the ideal buyer. We're local, state-backed. Our involvement guarantees stability."
"We're willing to pay," added another.
Yu Yong remained calm—he didn't have the funds anyway and knew he had to focus on Luoyi Molybdenum.
"I can see everyone wants an internal deal," he said, then posed the critical question: "How much do you think it's worth?"
"For internal transfers, I'm flexible. But I estimate the mining right is worth 2 billion yuan. A professional firm would likely arrive at the same number."
"That's just the valuation," Yu replied calmly. "Few domestic firms can actually afford that."
"Shazhai only has exploration rights. That valuation is a bit steep," Geng added.
At 2 billion yuan, 17% would be 340 million—hard to raise.
Now it was obvious why Li Tang had invited Liu—none of the others could come up with that much cash.
"I also want the transaction finalized fast—ideally within a month." Li Tang added another condition. "Installments are okay, but the first payment—at least 50 million—must arrive within one month."
The room went silent.
People mentally calculated if they could raise funds through loans or other means.
But one month? That ruled out most options.
"That valuation is high," Geng sighed. "Unless you're selling the full 51%, few companies can pay that much."
"We can talk price," Li Tang said, leaving the door open.
After three days of intense negotiation, the deal was struck.
Shazhai Molybdenum was valued at 1.2 billion yuan. Li Tang would sell 17% of his shares for 204 million.
10% went to Hongda Group.
5% to Copper Nonferrous.
2% to Gaolu Potash.
Kunshang Group bowed out.
All payments would be made in installments within two years.
The first payment—50 million—would arrive within a month, satisfying Li Tang's urgency.
The agreement was drafted. Since the mine only held exploration rights, approval was simpler and handled locally.
The deal stirred no outside attention.
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