【FULL】The Ideal City EP37 | 理想之城 | Sun Li孙俪, Mark Zhao赵又廷, Yu He Wei于和伟, Yang Chao Yue杨超越 | iQiyi
[English subtitles are available.] [The Ideal City] [This is a work of fiction.] [Ep37] You know what… You’ve just accidentally spilled the beans. What? You said, “I thought you’d just send out a confirmation letter. I didn’t expect you to come in person.” What’s wrong with saying that?
The fact that I went to Mr. Cui was part of your plan, wasn’t it? What plan? I don’t know what you were plotting, but I know that I am walking towards a trap you set, same as always. I’m tired of all this, Xia Ming. I’m truly exhausted. Good luck. [Xia Ming]
I’ve checked back and forth at least four or five times. TK for sure has more liabilities than assets now. How’s that possible? The audit two years ago reported TK’s financial status as much healthier than the other four subsidiaries. The report was prepared cleanly without finding any flaws. Gao jin, What do you think?
It does have rather high debts, but considering the All-Stars Plaza has always been on advance construction, the numbers seem to be within a reasonable range. Have you confirmed the latest outstanding balances? Yes, I have. There’s no problem with the contract. But to have more debts than assets within such a short period
Is indeed unreasonable. I was thinking last night. It’s baffling for that girl to show up at my place for no reason. How was it possible? Mr. Cui, it’s my bad. I left in a rush yesterday, and I didn’t have time to explain everything to you. Yinghai Group is conducting investigative auditing on us.
She’s the Chief Director of the investigation team. After she saw the loan contract between us, she went there to confirm in person. It’s not a big deal. It’s not a big deal? True. It’s just to go through the process. How come I have a feeling that you didn’t tell the truth. Mr. Cui,
I wouldn’t dare to lie to you. You are my main benefactor. Mr. Gao, what brought you here? I’m here to conduct the complete audit. Is Mr. Xia in? Yes, he is. He has visitors though. Do you mind waiting in the conference room for a while? Sure. Please bring me all the financial data
From the past three years. Also, all the financial transactions from now on have to be approved by us first. Okay. After you, please. Mr. Gao. Has Ms. Su told you I’m taking over the work here. About five or six people from the audit team came. They’re in the meeting room over there.
I knew it. You didn’t tell me the truth. What do you mean? Stop talking nonsense to me. Do you think I’m a fool? When an investigation of such level occurs, either you or your company are in some major trouble. How big of a problem could it be, Mr. Cui? It’s nothing.
Are you still trying to fool me? I’ve been in the industry for over a decade, don’t you think I have the basic instincts? Hurry to make the repayments, and we can remain well civilized. If you keep finding excuses, don’t blame me for being rude to you. Mr. Cui, please calm down.
Hear me … You will never give up until you are consigned to the grave, won’t you? Mr. Gao is here. He said that Yinghai sent him to conduct the complete audit. Okay. I got it. He is like a pillow with an embroidered case, just a pretty face. That’s right.
Among the five T-subsidiary companies, TK is the best and most healthy financially. How could it have deficits just like that? How would I know? In this case, what should we do now, Mr. Lin? Do you want to keep collaborating with TK? Let’s wait and see. I don’t think it’s that simple.
Perhaps, Xia Ming is holding back, and plotting something ruthless. He’s left the land in the suburbs untouched. He doesn’t rely on his connection with He Yao, either. The role as the general manager after the acquisition seemed unattractive to him. This is odd, isn’t it? I think so, too. Whoever has all three conditions
Could easily become an overnight success. [Fixed Asset Subsidiary Ledger ] [Land-use Rights] It’s been a while. What are you up to? I’m conducting investigative auditing at TK. I just finished handing work over to Mr. Gao, and got back. I heard that TK is very deeply in debt. What’s going on?
I’m just casually asking. If it’s not convenient for you to say, forget it. I know the subject may be confidential. Well, there’s not any inconvenience. It’s already an open secret, isn’t it? If you ask me, what they did is blind expansion. At that time, Mr. Lin offered to get them involved
In the real estate business. Who knew that Xia Ming would have turned it down right away. How typical of having high aims but low abilities. He totally messed up! I have no idea what he’s up to. Did Su Xiao know? I heard that they dated in the past. Do you think Su Xiao
Will help him out? No way. Xiao will never do that. Yeah… about the recommendation last time, I owe you big time! No biggie! Says who? Listen. We are extremely happy with those people you recommended. Mr. Lin even commented that these people are amazing. I said, ‘of course,’ ‘they were referred by Helen.”
He even said that if not for the fact that you’re already transferred to the reform team, he would have requested to transfer you to our real estate company. What can I do there? Be the HR Director, of course! He’s unhappy with the HR director we have right now. I’m not qualified.
You are much better than that Maria! Look at her. Other than dressing herself up every day, she knows nothing. She’s acting. Just like that all the time. What an annoyance! She’s so annoying! Don’t you know? So accurate! Of course! Xiao. Ms. Su, I am done eating. Enjoy your meal! Thank you.
Ms. Zhu was handing the account over to Mr. Gao, and everything went well. So I came back early. Since when are you this close to Nana? We’ve always been pretty close. What’s wrong? Nothing. I’m just wondering. Are you still worried about Xia Ming? I couldn’t sort out this one thing. TK is
His uncle’s life-long hard work and dedication. Even though he doesn’t like the idea of acquisition, he wouldn’t want to destroy it, ruining everything. I’ve heard that Lin Xiaoming invited him to get his hands on the real estate business, but he refused. Perhaps… he has misjudged the situation. I… I’ll get going now. Okay.
How did it go? For now, I haven’t found any problems. The financial reports here have no flaws, either. Keep going. After you, please. How is Mr. Huang’s recovery? Pretty good. He visited the company on wheelchairs just a couple of days ago. Is that so? It seems he’s very concerned about the company.
Without a doubt! Mr. Xia doesn’t want him to worry, so he’s always kept in the dark from company affairs. Mr. Huang would always call and ask me secretly. In your opinion, how do you think Mr. Huang will react to the deficit problem of TK? That, I’m not sure.
Based on my understanding of him, he’ll jump right off his chair. How did TK get into so many debts? I’m in no place to say anything regarding the operation and management of the company. Shall I ask Mr. Xia to come and explain it to you?
You are the manager of the business contract department. How could you not know where the losses are from? That, I do know. At first, it started with the Public Housing Project in Taoyuan village. After the walls collapsed, we lost quite some money for compensation. Before we could fill the money hole,
We took on the All-Stars Project. We have been doing advance construction. The interest expenses grew exponentially. After that, Mr. Huang became ill, we couldn’t get the loans from the bank approved, and subcontractors had a run on the bank. Since then, there have been problems with our cash flow. But once the All-Stars Plaza
Launches the pre-sale, things will turn around. Once the pre-sale is launched, it’ll be alright? That should be the case. Now the final account method has changed, and most people place a lien on the properties for the construction fees. The housing market should go up. What if the price goes down?
What do you think is the most difficult part of working in the finance and accounting field? Well. The most challenging part is to decide where you stand. The boss wants the numbers to look good. They want to reimburse more than what’s allowed. They want to accumulate wealth on the kickbacks. If you disagree,
You’ll upset your boss, and you’ll have a hard time. If you comply, you are against the financial principal and guidelines. If something goes wrong, you are an accomplice. What is it? Construction companies have very little intangible assets Three years ago, in the financial reports of TK, there was an extra item,
The land-use rights. [Public Land-use Right Listing] I’m here to ask you about it. Is there any problem with that? The land has low depreciation so it has not caught the attention of auditors’ in-depth investigation. But it has a large area. What’s wrong with a large area? It’s nothing but a wasteland.
A few years ago, we completed a shantytown redevelopment project, which sustained losses. So, the proprietor placed a lien on the land use rights in place of the last payments to TK. Since it’s been sitting there, I hired some farmers in the neighborhood to plant organic produce on the land,
And turned it into a membership-based business. Members are mostly TK’s employees and their family and friends. As you can see, the profit isn’t much. It’s hard to say when it can make up for the shortfall of the project. You’re very invested for such little profit. What else can I do?
It’s a hot potato for me to deal with. At least, the produce from the garden is truly good. Hello. Mr. Xia, something came up at the construction site. What happened? A bunch of gangsters came. What are you doing? Stop it! Hello? I gotta go. What’s going on?
Are the gangsters at TK’s construction site causing any trouble? So far, it seems that the loan between TK and Prosperity Bonding Co. isn’t fraudulent. And there’s not any siphoning off funds for self-enrichment found. But… What is it then? The juridical person of this boding company is Cui Shaohui, known as Mr. Cui.
Huang Lilin mentioned him before. Mr. Zhao, do you recall? No. I don’t remember a thing. I have checked and found that Huang Lilin used to get bridge loans from Prosperity Bonding when he was in short-term cash flow deficits. There’s a record of over ten years of transactions.
Their debtor-creditor relationship should be without doubt. I see. Su Xiao, please pay a visit to find out what’s going on. These are all old rascals. It’s not right to send a girl like Su Xiao. I’ll go. There’s no need. Let her go first to test the water. If she failed, then you’ll go.
I went to this bonding company not long ago, and I’ve dealt with Mr. Cui. Perhaps Zhao Peng should accompany her there? No. Not Zhao Peng. He Congrong, you’ll go with Su Xiao. First and foremost, you must figure out their true intention once you get there, specifically you need to find out
If they are in it together. What’s the worry? You’ve always said that I overthink. But see what happened. TK is still under my charge, but I wasn’t notified first when something as major as this happened. Su Xiao is the reform team’s Chief Director. She’s investigating in TK. Naturally, she’s informed first.
Then why didn’t she notify me? Instead, she reported to the president directly. Perhaps she was negligent. I’ll remind her later. Zhiping, you know that’s not what I meant. I want you to know that I’m not overly sensitive. When I volunteered to go to the construction site, the president didn’t let me.
Fine. No problem. I suggested having Zhao Peng go with Su Xiao. It was again rejected. What’s wrong with the Deputy Chief going with the Chief Director? How is that not okay? Is that a bad idea? Why did the president make someone like He Congrong, who knows nothing to go there with Su Xiao?
What do you think is the reason? Stop pretending that you don’t know. Among all the people in the Yinghai Group, you know the president the best. Mingyu, I have to say this again. Yinghai belongs to every one of us. not to you, and it doesn’t belong to the president, either.
It belongs to all of us. I, too, want everyone to benefit. But judging the current situation… Never mind. I’ll stop nagging. You’d say that I’m too sensitive. I want my money back. According to the contract, a creditor is legally permitted to demand an early repayment in a debt from the debtor
When a debtor is found to be at risk of not making repayments. Do you dare to say that TK has no cash flow deficits? TK’s fundamentals have not changed. There are temporary liquidation issues. How could you make financial losses only temporary liquidation problems? I’ll be blunt. I have my sources to prove
That TK cannot recover from the huge losses even if all the houses built are sold out. Hear me out… Let’s cut to the chase, be frank, and not waste our energy. Alright. Please tell me your terms and conditions to resolve it. Three days. Yinghai must pay me the 80 million principal
And the incurred interests. Do we have a deal? Make your call. Yinghai Group has its executive management, the Board, and shareholders. There are procedures in place. The lump-sum is $80 million, not eight thousand yuan. It’ll take at least one month to approve the fund following all the procedures and meetings.
Three days is not enough time. That’s it then. Excuse me, Mr. Cui, TK has gone too far on advanced construction on All-Stars Plaza, causing negative cash flow and hence the problem. Bringing gagsters to the construction site will only make everything worse. It’ll affect TK’s ability to fulfill obligations. You are shooting yourself
In the foot. I’m fully aware that you’re extremely good with words, so I won’t bother arguing. See for yourself. These are the documents I filed at the court yesterday. [Notice of a Lawsuit] [Confirmation Letter of Disputes] [Certificate of Service] I have filed to secure a lien on the equipment outside
For the debt of 30 million you borrowed from me last time. The pre-litigation property preservation application was also filed at the court. The case will be opened and in effect in seven days. Mr. Cui, this is extreme. Now the paper’s served. We can finally talk heart-to-heart.
The preservations of property before a proceeding is brought to court… That’s what’s served. I see. Tell Su Xiao that she cannot give any promises. Use every means she has to hold him off for now. Buy us time until Mr. Gao completes the investigation. Got it.
[Don’t make any promises. Buy more time for Mr. Gao] Mr. Cui, it seems that you loaned out more funds after Xia Ming took over TK. Doesn’t this mean that you trusted him? When Fat Huang came to me for loans, I never lent him as much. I know that he was under Yinghai Group,
And there are many restrictions and limitations. Then it struck me that the younger folk might be more flexible in business. Hey you, what did you say to me back then? You said that we’ll make a fortune together by selling off the All-Stars Plaza properties. Who’d know in the end…
Cut it off. No more ancient stories. We’d better focus on how to resolve the debt. Businesses make and lose money, and it’s normal. Yinghai Group will not leave TK in the lurch. But if you drive Xia Ming off a cliff, Yinghai may decide to file TK for bankruptcy
In which no assistance will be offered. The compensation you receive at that time will be even more limited. I would rather believe that Xia Ming can still pull it off and turn things around. Mr. Cui, you might as well believe in him till the end. Please give him another chance. Three days.
In three days, I must receive a response. Thank you, Mr. Cui. TK is really at losses. Don’t bother anymore. Time to leave. There’s nothing more you can do. I don’t believe it. It can’t be true. TK’s deficits surfaced after Huang Lilin came down with a stroke. But the root cause is Xia Ming.
You’ve known Huang Lilin well. He plans carefully and does things one step at a time. He doesn’t spend more than he has. Xia Ming is not like that. He’s bolder and more aggressive. He recruited many people, and took on quite a few good projects. Throughout the years, TK seemed to have expanded
And grew under his management, but the labor costs and interest have been increasing significantly over time. Since the projects went well for the first two years, these problems weren’t noticeable. But this year, with advance construction on All-Stars Project, and Huang Lilin’s stroke, these issues broke off. Simply put,
They’ve taken too big of a step forward, to have tripped themselves off. Can TK sustain with help? It has solid business foundations. If it gets Yinghai’s resources, it’ll be fine. But the problem is that there’s a lack of funds in Yinghai. We aren’t able to help. Once the litigation proceeds, TK’s over.
It’s better to make a decision early, Mr. Zhao. Since we are going IPO, non-performing assets have to be divested. Excuse me, Mr. Zhao, I didn’t know that you are here… It’s okay. What time is it? It’s almost time to leave. What were you doing here? We are investigating TZ,
And we duplicated a video from here a few days ago. I know you… Su Xiao and I were classmates in college. I was one year above her, but we lived in the same dorm room. After graduating from college, I’ve worked for Yinghai until now. Have you ever thought about changing jobs? Never.
I value the opportunity to work in Yinghai Group. Probably because of how I was raised at home. My parents always said to me that the factory is their family because they are the employees. I was born in a factory and grew up there. I went to kindergarten,
Elementary school, middle school, and high school in the factory. To date, every time my parents call me, they often lecture me to follow the leader, do more, and complain less. Your parents are great, and not many people think like them now. How’s work at the reform team? It’s all good.
I appreciated the opportunity, Mr. Zhao. I’ll take off now, Mr. Zhao. Mr. Zhao. Mr. Zhao. It’s been a long day, Mr. Zhao. TK’s current situation is unexpected, but it’s not completely out of whack. A talented person can have impressive achievements, but the risks they take on are usually astonishing.
Sometimes they could be lethal. Zhiping made a good point. TK’s failure resulted from the blind expansion Xia Ming led. Maria, please arrange a training, in which Mr. Xu will talk about risks to the mid-level and senior managers. Everyone should learn from the case. Sure. What should we do with TK? For one thing,
The creditors of TK are very hard to deal with. Divestiture is best done early to minimize the negative effects on Yinghai. And here’s the big picture. Yinghai is going IPO. For that reason alone, we need to separate the bad assets. as soon as possible. I agree. Have you heard that No.13 line
Has extended further. Isn’t that more convenient? It sure is. The housing along the extended line is going to rise. You bet. [Land-use Plan of Songjiang District, Shanghai] [Map of Songjiang District] [Shanghai Metro: Plan for Line 9 ] [Line 9] I heard that Lin Xiaoming was trying to get him involved in
The real estate business, but he refused. Bigger isn’t better. This is merely a wasteland. What a treasure! You must have been a bricklayer in the past. I was a bricklayer my whole life. Judging from your craftsmanship, you must have been a team leader for bricklayers. Back in the old days,
Over a hundred people worked under me. Do you live here now? The land should be for agricultural use. And that building should also be temporary. Young lady, you know quite a lot! Are you also in this field? Which company do you work for? Yinghai. Yinghai? I worked for Yinghai, too.
How come you end up living here? Well, here’s the thing. After working as a bricklayer for my whole life, I still couldn’t afford a house. The old house in my hometown has been unoccupied and eventually collapsed. Xiao Xia arranged for us to stay here. Xiao Xia? Xiao Xia also works for Yinghai.
Don’t you know him? He’s from TK. I do know him. Look. All of us here used to work for TK. Now we are retired and not strong enough to work at job sites anymore. For many different reasons, we cannot return to our hometowns, either. Xiao Xia knew and arranged for us
To garden and do chores on this land. We have a fixed income every year. It’s nice. What are you doing here, young lady? I’m a friend of Xiao Xia. I happened to pass by, so I stopped by to check it out. Xiao Xia is a nice person.
You’re not planning to keep living here, are you? This is a temporary building. Xiao Xia said that Houses will be constructed here in the future. At that time, he’ll also arrange a place for us to stay. Young lady, when you go back, please tell Xiao Xia that we are all doing well
And can take care of ourselves. Tell him not to worry. Would the president agree to the divestiture? Yinghai held the meeting yesterday. As I anticipated, they don’t want to have anything to do with it. Mr. Cui. They don’t want it to affect the IPO, either. So,
The decision to divest has been made and approved. Finally, all the obstacles are cleared. TK is going to be ours soon. Hello, Xiao Xia. Here you are, Xiao Xia! I’ll be responsible for their lives. You do what you should do. I don’t think anyone would truly understand what you did here.
The management would only think that you are concealing this land deliberately so that TK can make a comeback after the split-off. It’s not wrong for them to think this way. You dug such a big hole, and everyone fell into it. Have you ever considered what the president would do once he finds out?
Since I have started it, I am willing to bear the consequences. Xia Ming, is there no other way to make both Yinghai and TK have a better ending? Do you know that you’re walking a tightrope? You know well enough what Yinghai Group is like. I’ve waved the white flag. And now
The future of everyone in TK. is in my hands. There’s no going back. Don’t worry. Please do what you have to do.