Chapter 2455 The Gui Scroll surges, the tide
"Split the shares and go public?" Guo Zhengyu couldn't help but asked repeatedly.
He can roughly understand the meaning of splitting shares. Feng Ziying had done a lot of preparation before.
The Wusongkou Shipyard is worth 600,000 taels of silver. One tenth share is worth 60,000 taels. Looking at the whole Jiangnan, not many people can buy it. Those who can buy it may not be interested in this industry.
If 10% of the stock is divided into ten shares, one share will be 6,000 taels. Not to mention Jiangnan, even in Yangzhou, Songjiang, and Suzhou, the number of people who can get 6,000 taels of silver is much greater, but it is still not enough. After all, Six thousand taels is not a small amount, it is equivalent to the entire assets of a moderately wealthy household.
But if 100 shares are split into a hundred shares, or even a thousand shares, and one share is only sixty taels or sixty taels, then the number of people who can take it will increase exponentially, as long as they are a little interested, or not interested. , people with a gambling bent or some spare money might be interested.
Six taels of silver, for ordinary poor people, is half a year's livelihood, but for landowners in Yangzhou, Suzhou, and Songjiang, it may be just a month's pocket change, and for some workshop owners and scholars, it is just Two months of expenses can be collected by just saving one province.
What does it mean to be listed on the stock market?
What would happen if the shares of Wusongkou Shipyard were split into 60,000 shares at a price of 10 taels per share, and could be bought by landowners and businessmen from all over Yangzhou, Suzhou, Songjiang, and even Jinling, Changzhou, Ningbo, and Hangzhou? Sample?
Feng Ziying explained the stock split clearly and gave a concise introduction to the listing transaction.
"If one share is sixty taels of silver, I think there are tens of thousands of people in the Jiangnan mansions who can afford twelve hundred two hundred taels of silver, right? Those who are rich and interested can buy thirty or fifty shares or One hundred shares. Those who are not interested but have a few small coins can also buy ten or eight shares to try their luck. Accumulate a little and make a lot. A share of six hundred thousand taels of silver is one hundred thousand shares for one person. It’s actually easy to buy thirty or fifty shares, especially when the Zhuo family is willing to buy most of the shares and act as the majority shareholder.”
Feng Ziying introduced it in detail, and he has done research and consideration on this issue for a long time.
"Let's take Wusongkou Shipyard as an example. We can first make an analysis and judgment of its business in the past three years. For example, from September of the ninth year of Yonglong to September of the twelfth year of Yonglong, I found someone to make a statistics on the entire Beijing operation. ,…”
"From the ninth year of Yonglong to the tenth year of Yonglong, a total of fourteen ships were built. The total cost was 72,600 taels, and the profit was 19,800 taels. The profit rate was about 30%. During this period, orders were received Thirteen ships, the estimated cost is 75,500 taels. From the 10th year of Yonglong to the 11th year of Yonglong, a total of 16 ships were built and shipped. The total cost was 88,300 taels, and the profit was 6,800 taels. , the reason for the sharp decline in profits is because its land purchase and shipyard renovation and wharf renovation have further improved its shipbuilding capabilities. During the period, its orders also increased significantly to 18 ships, estimated at 102,300 taels,..."
Feng Ziying tried his best to simplify the financial data and system. Fortunately, Guo Zhengyu was also an expert. Although there were many things he didn’t understand, he was not ashamed to ask questions and had to understand every question. This also impressed Feng Ziying.
"So it can be seen that Wusongkou Shipyard's shipbuilding capacity has steadily increased, and its own assets have gradually expanded from 490,000 taels in Yonglong 9th year to 600,000 taels in Yonglong 12th year. There is also some so-called goodwill appreciation here. This is what we commonly call credit appreciation. People trust that the ships built by Wusongkou Shipyard are of good quality and can be delivered on time. Moreover, the scale is getting larger and the credibility is improved. Therefore, although they only invested less than 50,000 taels. Fixed asset investment, but received a total added value of 110,000 taels,..."
"The profit rate has probably remained at about 30%, without much change. But if anyone invests 600 taels of silver, which is one thousandth of the total shares, according to calculations, Yonglong's profit in the 12th year will be 20,000 Three thousand five hundred taels, he should get twenty-three and a half taels of silver. At the same time, the shipyard's assets have increased from 540,000 taels to 600,000 taels. In theory, he can also get sixty thousand taels of the increased value of the 60,000 taels. Value-added income,... In total, he received a total income of eighty-three and a half,..."
It's a little more complicated, but Guo Zhengyu still understands it.
“Which bank in the world allows you to deposit a thousand taels of silver in it and can give you an interest of 140 taels of silver every year?” Feng Ziying asked in return.
"Ziying, you have simplified the problem. Yes, according to what you said, the Wusongkou Shipyard is indeed worthy of investment. With the increasing prosperity of maritime trade, the shipbuilding industry will indeed have a long period of prosperity, but once These people who come here to buy stocks only buy a few hundred or a thousand shares. How do they know how the shipyard will perform in the future? What if the people here collude inside and outside to harm the public and enrich private interests? There is also this secretly falsified accounting that clearly made a profit of 20,000, but said it was a loss. What about five thousand? What will they do?"
"I have also considered these issues, so my suggestion is that since it is a pilot project, for example, Wusong Shipyard can invite the Zhuo family, who has been engaged in this industry, to purchase the largest number of shares and act as the major shareholder, and also be responsible for the operation. This solves the problem of no one taking the lead. As for management issues, these small shareholders can join together to hire people who understand financial management to station in the shipyard and do nothing else but supervise audits. They can even secretly send people to quietly apply as workers to supervise. What a small expense. Compared with their investment, it is nothing to mention, absolutely cost-effective,..."
There must be many specific details involved here, and Feng Ziying alone cannot consider them.
He now gave some of his ideas to Gu Dengfeng and asked him to help him comprehensively consider the operation.
Although Gu Dengfeng is not as long-term as Wang Wenyan and Wu Yaoqing, he is his most important helper in contacting merchants from Shanxi and Jiangnan. Basically, he has to inform the merchants through Gu Dengfeng of any ideas and intentions he has. The wishes and considerations of the businessmen will also be conveyed back through Gu Dengfeng.
This time, Feng Ziying's intention was to use the modern Dutch East India Company to form a joint-stock company and the Amsterdam Stock Exchange as a template by disposing of such business assets in Jiangnan. It would be piloted first in Dazhou. stand up.
Feng Ziying has the impression that if his memory from his previous life is correct, the Dutch East India Company has been established for several years now, which means that the world's first joint-stock company that can trade and transfer stocks has been established.
However, this company has only been established for a few years. The influence and strength of the Dutch East India Company cannot yet be said, but with extensive social capital support, such a colonial company will definitely develop rapidly. With the pace of Dutch businessmen, With a global reach, the future impact of this Asia-focused company on Southeast and East Asia cannot be underestimated.
Similarly, the establishment of the Amsterdam Stock Exchange should only be a matter of one or two years. Although it is still a period of trial and error, the Netherlands is in the lead, and the Great Zhou Dynasty must not lag behind.
The sweeping Age of Discovery is about to enter its heyday, and the Great Zhou Dynasty must not fall behind in this wave of global colonization.
Now the Wusongkou Shipyard is equivalent to a pilot project similar to that of the Dutch East India Company, and Feng Ziying also plans to establish such a securities or stock exchange in Yangzhou or Nanjing.
While promoting industrial and commercial enterprises to use this method to absorb the money hidden in the cellars of the rich people in the south and north of the Yangtze River, it will not only earn them huge profits, but also allow them to gradually transform into industrial and commercial aristocrats. Absorb more industrial funds for various industries to promote development.
Guo Zhengyu worked hard to digest the new things that Feng Ziying poured into his mind. Even though he had some knowledge in these aspects, but he suddenly accepted so many things, he couldn't catch his breath for a while, and he had to slow down. Think slowly, digest carefully.
But Feng Ziying’s topic obviously doesn’t stop there. He wants to introduce all the content at once and let Guo Zhengyu adapt to it first. Even if he can’t digest it for the time being, there will be a process and time to buffer it. I believe Guo Zhengyu will gradually accept it.
“In addition to these, I am also considering another issue, which is to allow the shares of this company to circulate freely...”
Guo Zhengyu almost fainted, "What does it mean to circulate?"
"That is to say, the shares of Wusongkou Shipyard will be produced in a certain number of shares through a special method that cannot be copied, similar to a bank note, such as one hundred shares, one ten shares, or even one share. This kind of note can be called a stock!…”
“Stocks?!” Guo Zhengyu pondered: “You mean these stocks can be used for public trading, which means they are unsigned? What if they are stolen?”
"Although there is no signature, there will be a number. My idea is that the government should set up a special trading management agency. For example, Wusongkou Shipyard has registered as a joint-stock company and issued stocks. The par value of these stocks needs to be registered with the trading management agency. , will be recognized and protected by the government. The same transaction will also be carried out in the institution designated by the government. In this way, the equity transfer registration will be recognized, and the trader must also have certain qualifications. For example, you cannot be nameless. Surname, or prisoner,…”
Feng Ziying also thought about it while introducing it, and even needed to add some details temporarily. There were many things that he himself had not considered maturely, but the time was too tight and he could not delay them.
(End of this chapter)