45. Temporary Emergency Shareholders' Meeting

Step 3 of the plan: 【Usurping the Nest】.

At around 2:00 PM.

The Rolls-Royce entered the Beihai Road district of Binhai, and Chen Che looked out the window at the distant glass skyscrapers.

The headquarters building of Bangyuan Real Estate Group was quite magnificent. Constructed in 2014, it was located in the core area of the New District, only about 1.5 kilometers away from the Tianjin Stick.

Standing at a height of 86 meters, with 1 basement level and 17 above-ground floors, it covered a total area of 57,000 square meters. The main and podium buildings featured frame-tube and frame structures, with multiple spans reaching 25 meters...

The decline of Bangyuan Real Estate was actually directly triggered by that explosion.

Immediately afterward, the real estate market hit rock bottom. Following multiple plunges, the stock crashed, and a massive amount of capital vanished into thin air.

In 2016, the real estate market rebounded and soared, only for the chairman to pass away suddenly, plunging the group into internal turmoil.

A starved camel is still bigger than a horse!

However, the real reason why Bangyuan Real Estate went bankrupt in his previous life was actually because Gong Yaowu had fled with the money.

First, a group without a leader.
Second, the rupture of the capital chain.
Third, related-party transactions.
Fourth, tax evasion and tax fraud.
Fifth, liquidation and debt repayment.
Sixth...

Before he could dwell on it, the leading Rolls-Royce of the motorcade pulled into the courtyard and stopped at the building's portico.

As the bodyguard opened the door, Chen Che, having changed into a fresh suit, stepped his leather shoes onto the ground.

"Mr. Chen."

Accompanied by a group of followers, another man in a suit walked out from the entrance to greet them.

The man was in his early thirties, surnamed Yang, and served as one of the three vice presidents of the Bangyuan Real Estate Group.

He was also the insider Chen Che had bribed.

"President Yang, a pleasure."

Though they had met privately before, Chen Che did not refuse the handshake this time.

Seeing such a grand entourage surrounding Chen Che, Yang Qinghai showed no surprise at all. After greeting Gong Bingyan, he said:

"They are already waiting inside."

"Good."

Without lingering at the entrance, guided by Yang Qinghai and the others, Chen Che stepped into the magnificent lobby.

Gazing at the brand-new and imposing office building, it would be a lie to say he wasn't excited, but he had to maintain a composed demeanor for now.

Usurping the nest, as the name implied.

His visit to Bangyuan Real Estate this time was to directly raid Gong Yaowu's home and secure control of the board of directors in one fell swoop.

Official seals could be forged.
Signatures could be too.

Today, Gong Bingyan going to steal Gong Yaowu's signature effectively completed the share-proxy agreement.

Convening an extraordinary general meeting of shareholders in the name of the board of directors today still relied on a counterfeit seal, however.

Using a counterfeit seal was illegal.

Yet human effort could overcome obstacles, and he would not give others any opportunity to use such matters to attack him.

Riding the elevator up to the 16th floor, Yang Qinghai had arranged the meeting here, and the space was quite spacious.

While a general meeting of shareholders was protected by laws and regulations, an extraordinary meeting convened without following formal procedures represented potential invalidity.

In plain English: it might all be for nothing.

However, Chen Che had already thoroughly prepared for every foreseeable contingency, such as Gong Yaowu's inability to attend today.

In the morning, Gong Bingyan had returned in a panic, reporting that Gong Yaowu was trapped inside the villa.

Chen Che had immediately called Lawyer Jiang to report the situation, trusting that Gong Yaowu would need to spend the entire day tangling with the police.

Due to the unique nature of the industry, real estate tax evasion and fund misappropriation had become unwritten industry rules.

Really!

Out of every 10 real estate companies, 9 had issues; the authorities simply turned a blind eye for the sake of economic development.

But things were different now. Chen Che had actively torn open that seam and exposed it to the sunlight.

If Gong Yaowu was truly planning to run, he undoubtedly had too many skeletons in his closet. Once the public security organs and the court finished processing the case, the arrest warrant would not be far behind.

It was precisely because Gong Yaowu himself was dirty that Chen Che dared to fight poison with poison and act using a counterfeit seal.

Otherwise, how could he dare court death?

Walking down the corridor toward the conference room, numerous personnel in sharp business suits stood on both sides.

Seeing Chen Che leading the group, they watched with curious surprise as they headed toward the conference room.

These people were likely the subordinates of the shareholders; attendance at a shareholders' meeting did not require outsiders to be present.

The conference room was about 80 square meters, featuring modern decor and a high-end feel. Inside sat 12 shareholders.

Chen Che, accompanied by Gong Bingyan and Lawyer Wen provided by Lawyer Jiang, walked straight to the front seats.

As two bodyguards closed the doors and Yang Qinghai stepped up to the podium, the shareholders broke into murmurs of astonishment.

"What are you doing? We are in a meeting."

Some shareholders assumed Chen Che and his group were just trying to commandeer the conference room, given the numerous cooperating units within the office building.

Yet, the moment those words fell, Chen Che sat down in the seat that originally belonged to Gong Yaowu and looked toward Yang Qinghai.

"Everyone, at the request of the major shareholder, this extraordinary meeting of the Bangyuan Group is hereby convened. The primary purpose is for all shareholders to deliberate and vote on the following resolutions and agendas: first, to nominate Mr. Chen Che as the acting chairman of the Bangyuan Group."

"What?"

As Yang Qinghai's words dropped, the twelve shareholders below instantly erupted into an uproar, as if they were dreaming.

The company's board of directors officially registered 15 shareholders in total, with 12 actually present today, while 3 were absent.

"Major shareholder? Which major shareholder?!"

After the brief commotion, someone demanded an answer. The current scene was absurd beyond belief.

Some random person walks in and claims to be the acting chairman—what on earth was this, still a listed company?

Following that initial voice, the rest began questioning loudly, even demanding to know where Gong Yaowu had gone.

Chen Che watched the scene quietly, cast a glance at Yang Qinghai, who then raised his voice once more:

"Second, the shareholders must vote on the legitimacy of the largest investor in the Bangyuan Real Estate Group. We hope everyone will speak their minds, and finally, we will cast our votes."

The largest investor was naturally the largest shareholder.

Yang Qinghai's two statements left everyone utterly bewildered. Finding the whole affair an utter farce, one person slammed the table and shouted:

"Who the hell are you people? Disrupting a group meeting carries legal consequences, you know that?"

Chen Che still remained silent, merely waving his hand to signal his bodyguards to open the file bags.

As copies of the share-proxy agreement were handed to every single shareholder, Yang Qinghai spoke again:

"Good afternoon, esteemed shareholders and directors. Thank you very much for taking time out of your busy schedules to attend this shareholders' meeting, and sincere thanks for standing together through thick and thin over the years. Since the passing of the old chairman, we have forged ahead hand in hand for two years. However, under the leadership of Chairman Gong Yaowu, the group has faced continuous crises from all directions; the group has made no progress and generated no efficiency, severely harming the interests of all shareholders. Today, June 18, 2018, we hope all shareholders will actively participate, cooperate, and understand the board's proposals."

Finishing as if reading from a script, Yang Qinghai, under the gaze of several attendees, looked toward the person beside Chen Che.

Gong Bingyan was exceptionally pretty.

Initially, everyone had assumed she was merely a secretary or something similar.

Yet at this moment, even the most foolish could understand.

"Where is the chairman? Please have him come out to preside over this meeting. It's best not to trifle with matters like this."

Even if the seal used was counterfeit, the underlying matter was real. Were major affairs of the group to be treated as child's play?

Everyone now understood. This meeting was meant to make them pass a resolution recognizing Gong Bingyan as a shareholder.

According to legal regulations, for a shadow shareholder to be publicly recognized, aside from providing proof of the share-proxy arrangement, the approval of more than half of the shareholders was required.

Only with the consent of a majority could the group submit the documents to the Administration for Industry and Commerce to process a change of directors.

Chen Che had not come here simply to become some chairman; his primary goal was to cut off Gong Yaowu's escape routes.

Reaching the stage of the Administration for Industry and Commerce was unnecessary.

"He can't come anymore."

Chen Che finally spoke. Perhaps the authority of the primary seat drew every gaze to him as he continued:

"This morning, news broke that Banghe Real Estate has fallen into crisis. Director Gong has misappropriated over 3 billion in funds, a portion of which involved related-party transactions with the group. Currently, the police are conducting interrogations. I wonder if any shareholders here were aware of this?"

Regarding this matter, Chen Che harbored a slight doubt, as Gong Yaowu had funneled a vast amount of Banghe's money into Bangyuan.

He had yet to figure out the exact reason why.

Nevertheless, the arrow was nocked and had to be loosed. Even if the funds were transferred to Bangyuan Real Estate, Gong Yaowu was still committing a crime.

After all, Banghe and Bangyuan were two separate companies.

Even fund allocations should follow proper channels rather than illicitly misappropriating the funds of Banghe Mansion.

It was akin to a biological father spending the house purchase savings earned by his son and daughter-in-law independently; it was neither affectionate nor lawful.

The shareholders began whispering among themselves. Without waiting, Chen Che continued in a light, breezy tone:

"Among Director Gong's current 35% shares, 33% actually belong to Ms. Gong Bingyan. Director Gong has cashed out all of his remaining shares over the past two years. Were the esteemed shareholders aware of this?"

As these words left his mouth, a distinct shift rippled through the shareholders, and some finally caught on.

That's right!!

Previously, Gong Yaowu held 59% of the shares. When he cashed out a portion, the shareholders had actually been quite pleased.

Yet if Gong Bingyan held 33%, it meant Gong Yaowu had truly liquidated all of his own shares.

Why would he cash out completely...

Allowing them a moment for whispered discussion, Chen Che glanced sideways at Gong Bingyan, who was no longer nervous, and resumed:

"Let me introduce myself. I am a friend of Ms. Gong. My presence here today is not to harm the interests of the shareholders, but to protect the interests of Ms. Gong and all of you. The actions of Director Gong Yaowu over the years have been chilling and severely threatened the interests of every shareholder, nearly dragging the entire group down with him. Emotionally, the late chairman's daughter, Ms. Gong, has reached adulthood; rationally, Ms. Gong is the group's largest investor. The current actions of Director Gong Yaowu have plunged the group and its subsidiaries into crisis. With a mere 1% stake left, he can pack up and walk away without a care, but what would the rest of you be left with?"

Total explosion.

Following Chen Che's words, the people below were no longer content with whispering and muttering; they broke out into open shouting.

With the incident at the Banghe Mansion project yesterday, the group being the primary investor meant their own interests were...