"And is there a less painful exit strategy available to us?" Li Ming inquired, his voice dropping into a stern, gravelly register. His eyes remained fixed on the CFO, searching for a flicker of hesitation that never came.
Lu Rong tilted his head slightly, adjusting his posture with a calculated, stoic grace. "With liquidity strained to this absolute breaking point, the only way to salvage the project is an immediate, high-velocity capital injection... before the entire operation grinds to a halt and every dollar already invested evaporates into nothingness."
He allowed a measured beat of silence—a predatory pause—before delivering the checkmate. "But the crux of the problem remains as I have stated. If we... are unable to reimburse the VCC capital group as scheduled..."
The primary loan agreement flashed onto the gargantuan LED screen, appearing with a promptness that suggested it had been waiting in the chamber like a loaded round. The total debt figures loomed over the room, causing several board members to audibly swallow their anxiety.
"A total debt, including accrued interest, of 350 million USD," Lu Rong emphasized, his finger adjusting the bridge of his glasses. "Should we default on this sum by a single day—or even a single dollar—it will trigger a cross-default clause. Every other financial agreement we hold with institutions worldwide will be terminated and called in for immediate repayment."
Lu Rong lifted his chin, a ghost of a triumphal smile playing on his lips. "It would mean the CK Group is forced into total liquidation of its debts all at once. Our credit rating would plummet into the abyss of Junk Bond status, inevitably and irrevocably."
Li Ming rested his chin on his hand, a cold shiver racing down his spine as the architecture of the trap became visible. It was Lu Rong who had been the most vocal advocate for the VCC contract, citing the speed of funding as the ultimate priority. Now, that very speed had become a shackle designed to drag him into the depths.
"What other conditions lie hidden in the shadows?" Dr. Li Ming asked, his voice as cold as a mountain stream.
Lu Rong paused for a fraction of a second to mask his predatory satisfaction. When he spoke, his voice was smooth—dripping with a veneer of feigned concern. "There is one specific risk-mitigation clause... the Debt-to-Equity Conversion."
An immediate, frantic murmur erupted. Several directors turned pale. They knew exactly what that meant: the gates were being unlatched for a hostile takeover.
"In short... should we default even slightly, VCC possesses the right to convert the outstanding debt into common shares at a steep discount to market value. They would effectively seize a controlling interest and a permanent seat on the CK Group board."
Chairman Li Ming sat in profound silence, though his mind seethed with a cold fury at his own oversight. He was now certain: Lu Rong hadn't merely miscalculated. This was a deliberate "Quiet Coup," an invitation for an external predator to dismantle his throne from within.
"The matter of securing funds to settle this debt will be addressed in the next session," Li Ming cut in, his voice a sharp blade designed to buy time amidst the mounting panic of the board.
Lu Rong offered a bow—a gesture of mock humility that bordered on insolent—before reclaiming his seat. But he had no intention of letting the Chairman catch his breath. He lunged again, launching a question designed for a direct collision.
"Chairman... before we break, allow me to address a rumor that has been spreading like wildfire through the inner circles."
He threw a piercing gaze toward the head of the table. "I have heard... that you are opening the doors for a major investor from Thailand to partner with us on the Hydrogen Project. Is that correct?"
It was a frontal assault. Lu Rong intended to expose the secret negotiations Li Ming had been conducting behind the board's back. Yet, the Grand CEO didn't flinch. Instead, a cryptic smile tugged at the corner of Li Ming's mouth, his eyes glinting with a dangerous, unspoken knowledge.