Chapter 1111: Project On Hold
Wen Xinya gently said, “Facts speak louder than words. I oppose Wen Corporation’s investment in the entertainment city project. I’m not being selfish. I just do not want the entertainment city project to affect the foundation of the Wen Corporation.”
Wen Corporation’s current operations can generate a lot of revenue for shareholders. The shareholders will not allow it. The entertainment city project will affect the existing operation because everyone knows very well that money will only roll in when the foundation of the group is stabilized.
What are projects in a casino? It’s just a big cake drawn on paper for show.
Wen Haowen became furious and stared ferociously at Wen Xinya as if he was about to eat her. “The entertainment city project has already set up a separate subsidiary, and the approval of funds is also strictly in accordance with the review of the board of directors together with the shareholders. When and how will it affect the foundation of the Wen Corporation? Wen Xinya, your place is not here!”
The meeting room erupted in disputes.
The shareholders also started to show hesitation.
Between Wen Xinya together with Old Mr. Wen, or Wen Haowen? Who should they believe?
The answer was self-evident. Naturally, it would be Old Mr. Wen!
The shareholders also felt that the budget for the phase of the previous entertainment city project was clearly 500 million. As a result, because the shareholders would not let loose, the board of directors did not approve it. Finally, it was inferred that the capital budget was not true. The funding had become 300 million. This repeated att.i.tude had confirmed that the project budget of the entertainment city was problematic.
Wen Xinya walked slowly towards the projector of the meeting room. “Does the entertainment city project impacts the operations of the Wen Corporation? I have some data here to prove to the shareholders.”
Secretary Cao sat in front of the computer and tapped a key.
On the big screen in the office, a set of bright red data was presented. “Everyone can see that since the launch of Ai Shang Group’s products, the stock market price of the Wen Corporation has continued to increase. For the project, the stock has fallen sharply. As of now, the stocks of the Wen Corporation have fallen to nearly -7.56 (referred to as 7.56 dollars).”
Then, the projection in the conference room jumped, showing another set of data.
Wen Xinya said, “This is three months ago, the sales of clothing, jewelry, and skincare products over the market were compared with the sales of the marketing department in the past three months. As you can see, as of now, the total sales volume dropped by five percentage points, especially the sales of Ai Shang Group’s products, which actually dropped by nearly ten percentage points. According to the feedback from the market sales department, sales continued to decline.”
The shareholders’ attention was immediately attracted by these data.
Old Mr. Wen suddenly laughed. It turned out that she asked Secretary Cao to investigate this.
The development investment information of the Jiayuan Club was used to induce the huge investment of the Wen Corporation’s Entertainment City project, which was difficult to load within the group, so shareholders suspected that there was a problem with the entertainment city project planning plan, and then used this information to become a crushed shareholder. Our last straw, what kind of information, and when will it be used to achieve the best results?
Xinya already knew this.
At this time, Wen Xinya concluded. “From this, it can be seen that the project of the entertainment city has affected the existing operations of the Wen Corporation and affected the interests of the group and shareholders, so I have reasons to question it. The entertainment city project planning plan is not correct, and there are reasons to oppose it. It is unnecessary for the entertainment city project to continue.”
Wen Xinya’s words were said with unquestionable firmness.
Wen Haowen said angrily, “Wen Xinya, you don’t understand business. I can give you a lesson for free. Whenever a company invests in various investors, it will always cause some negative effects in the early stage, resulting in a variety of stock and sales. Such a problem is only temporary. When the investment project really enters the track, it will soon return to normal. The information you brought out is simply not enough to prove that the entertainment city project has affected the existing operations of the Wen Corporation.”
Wen Haowen was so proud of himself that he thought he held Wen Xinya’s little pigtails, and he became more confident.
Wen Xinya exclaimed, “Well, how do you prove that this impact is temporary and will not continue to affect the entire Wen Corporation? Can you guarantee it?”
Her tone increased and carried a strong spirit.
Wen Haowen was at a loss for words.
This kind of influence was indeed inertia, but there were also some groups and enterprises that had an impact on the company’s sustainability, so he could not guarantee it.
Wen Xinya smiled. “There is only so much I want to say. The information about my investigation is true. All shareholders can find someone to verify it. For the benefit of the Wen Corporation and the shareholders, I hope that the shareholders will be cautious.”
Having shared so much information, shareholders had their own thoughts, and she didn’t need to say anything else.
Wen Haowen said quickly, “Dear shareholders, as of now, the project of the entertainment city has not affected the interests of the Wen Corporation and all shareholders. I propose to dismiss Wen Xinya from the shareholders meeting and her right to partic.i.p.ate in the shareholders meeting.”
Wen Haowen looked towards Wen Xinya with extremely cold eyes.
The shareholders started discussing.
Although Wen Haowen said the truth—at the early phase it would indeed have many negative effects—but the shareholders were not fools. Combining the previous relevant information about the investment in the entertainment city and everyone’s doubts about the entertainment city project planning plan compared with Wen Haowen’s refutation for no reason, it was more convincing to use the facts and speak with data.
Therefore, the shareholders’ hearts naturally favored Wen Xinya.
“It is necessary to consider long-term whether the project of the entertainment city will continue. It is related to the interests of the Wen Corporation.”
“The entertainment city project planning plan has quite some inaccuracies. Everyone still needs some a.n.a.lysis and verification to determine whether the entertainment city project will continue.”
“Ms. Wen’s information, although detailed, has not been verified and a.n.a.lyzed by the Wen Corporation. It can only be used as reference data and cannot be used as a basis for determining whether the entertainment city project will continue. The specific situation needs to be confirmed.”
Everyone expressed their opinions, and they all had a common meaning—the entertainment city project was temporarily put on hold, and a decision would be made after the relevant information was verified.
Wen Xinya could not help but breathe a sigh of relief. The overall situation had been determined, the entertainment city project was doomed.
In fact, she used the development investment data of the Jiayuan Club to compare with the Wen Corporation’s Entertainment City project. It was not appropriate or suitable. She just made full use of it. The shareholders had a faint understanding of the entertainment business and the mystery behind Jiayuan. Dreading unpredictable backgrounds, the sword took a sharp turn to win the battle.