Chapter 979: The Shi Yahuai family is powerful but overly cautious

In order to effectively implement his strategy of curbing housing prices in Xiangjiang, Xia Yu tilted his working time towards the real estate sector.

He went to Jiuding Real Estate Group many times to conduct on-the-spot inspections and made important instructions based on his own experience and memory, so that Liu Shihao quickly figured out the direction and context of his actions.

Another week later......

Liu Tianci and Garth Liddell worked together to sort out the information and present it to Xia Yu.

In front of this information, the Swire Consortium and the Shi Yahuai family are like being stripped naked, and there are almost no secrets in front of Xia Yu.

I have to say that the Swire Consortium is worthy of being the second of the original four British-funded consortiums, and after the current rise in the Hong Kong stock market, its strength is increasing day by day, except for Xia Yu, none of the other Chinese-funded bigwigs is its opponent.

Even the Wheelock Consortium is now being pulled further and further away by the Swire Consortium.

The Swire Consortium has developed so well because of the shrewdness and prudence of the Shi Yahuai family.

However, it is precisely because of the caution of the Shi Yahuai family that the debt ratio of the Swire Consortium and the Shi Yahuai family itself is not low.

In the information in Xia Yu's hand, in order to facilitate reading, the Hong Kong dollar is used as a unit, and the assets are converted according to the exchange rate.

In addition, because only some companies in the Swire Group are listed, the listed companies calculate the amount of assets according to the market value, and the unlisted companies estimate the amount of assets according to the actual assets, and the two are counted together.

Although this calculation is certainly not so rigorous, it is the simplest and most effective method, and it has no impact on Xia Yu's actions.

After all, the value of the shares of listed companies is relatively virtual, and if they are used for bank pledge loans, they are generally about three to five percent off, and stocks worth 10 million Hong Kong dollars can only be loaned about 3 million to 5 million.

The Hang Seng Index cost stock is better, the stock pledge rate can reach 5% off, but if it is not the Hang Seng Index cost stock, then sorry, the bank will only give 3% off to 3.5% off, and generally only give 3% off!

If it is a non-listed company, it is more risky in the eyes of banks and securities companies, and few banks and securities companies will do the equity pledge business of non-listed companies, and even if they do, the pledge rate given is very low, and even as low as two folds!

If the value of a company increases by four or five times after listing, and it is pledged and discounted, it will be about the same as the amount of assets before it was listed.

If you take into account the risks of the company when it is not listed, it makes sense that the pledge rate of equity and assets for loans is low......

Straight to the point.

Let's start with the British Swire Group, the group's total assets are about 24.26 billion Hong Kong dollars, net assets are 8.81 billion Hong Kong dollars, and liabilities are 15.45 billion Hong Kong dollars, with a debt ratio of 63.7 percent!

The Swire Group is the most important branch of the Swire Group, occupying more than six floors of the Swire Group's strength.

The total assets of the Heung Kong Swire Group are about HK$15.77 billion, the liabilities are HK$9.24 billion, the net assets are HK$6.53 billion, and the group's debt ratio is 58.6%, which is lower than that of the parent company Swire Group in the United Kingdom.

Finally, there is the Shi Yahuai family itself.

The assets of the Shi Yahuai family are mainly under internal family trusts and family funds, and the vast majority of assets are held in shares of various companies in the Swire Group, both listed and unlisted.

Because these companies had already calculated the debts when they counted the assets of the Swire Group in the past, the statistics could not be counted on the Shi Yahuai family in principle.

The total assets of the Shi Yahuai family are about 8.32 billion Hong Kong dollars, which can be divided into four parts.

The first part is the shares and equities of listed or unlisted companies, worth about HK$6.65 billion.

The second part is the fixed assets of the Shi Yahuai family, such as buildings, houses and villas, cars, yachts, etc., with a total value of about 460 million Hong Kong dollars, which is a real value and does not contain a trace of water.

It's just that this part of the asset is more difficult to cash out, but the pledge rate is still relatively high when you take out a mortgage.

The third part is that the Shi Yahuai family's liquidity in various banks is about 120 million Hong Kong dollars, which is the Shi Yahuai family's funds for risk control, and it will not be used easily, even if these funds are idle!

This liquidity belongs to the family, which is different from the liquidity of individual companies.

The last part is the debt in the name of Shi Yahuai's family, which is about 190 million Hong Kong dollars in total!

The assets bought with the loan money also belong to the assets of the Shi Yahuai family, but they are only subtracted when calculating net assets.

But now Xia Yu does not want the amount of Shi Yahuai's family's net worth, so these responsibilities of the Shi Yahuai family must be calculated.

After all, there are explanations in the information.

The reason why Shi Yahuai's family is so indebted is because of the increase in equity in the past two years.

From this, it can be seen that the Shi Yahuai family is cautious and careful, and it is Xia Yu or people like Xia Yu who are guarded against.

However, the Shi Yahuai family probably didn't expect that no matter how they defended, Xia Yu would still target them if he wanted to!

"The Shi Yahuai family's liabilities amounted to HK$1.09 billion, which were borrowed from pledged shares of listed and unlisted companies worth HK$3.1 billion. ”

So in fact, the first part of Shi Yahuai's family's assets worth 6.65 billion Hong Kong dollars, of which 3.1 billion cannot be moved. ”

"The remaining 3.55 billion Hong Kong dollars of equity, even if all the loans are taken, can only be borrowed about 1.2 billion Hong Kong dollars, but unless Norman Shi Yahuai is brainless, he will not embark on this road of death. ”

In this way, the Shi Yahuai family seems to have huge assets, but in fact, after borrowing 1000 million Hong Kong dollars to increase their equity, the space for activity has been seriously reduced. ”

"The Shi Yahuai family sacrificed attack power in exchange for their own defense, but this defense can defend against others, but it's hard for me to say...... Hehe......"

Xia Yu thought of this, and the corners of his mouth unconsciously hooked an arc.

There are pros and cons to the caution of the Shi Yahuai family, the advantage is that it has strengthened its control over the Swire group and its various companies, but the disadvantages are also obvious, the capital is trapped, and the space for maneuver is smaller.

The difference between stocks and cash is evident at this point.

For a simple example, if the assets of the Shi Yahuai family are 3 billion Hong Kong dollars in cash, but they all use them to buy stocks worth 3 billion Hong Kong dollars, and these stocks are not money, and they can only be re-loaned back with 1 billion to 1.5 billion Hong Kong dollars in cash when they are pledged by the bank.

Although the total assets of the Shi Yahuai family have increased by 1 billion to 1.5 billion Hong Kong dollars, the stocks worth 3 billion Hong Kong dollars have been frozen, and the only thing that can be operated is the cash of 1 billion to 1.5 billion Hong Kong dollars for refinancing, and this deterrent and actual lethality naturally cannot be compared with the cash of 3 billion Hong Kong dollars!

"Now that it's clear, it's time to act......"

After thinking about it, Xia Yu opened the safe behind him, took out a notebook, and browsed the plans and ideas he had written down before.

It's evening in the blink of an eye.

After dinner, Xia Yu bought some fruit and drove to Bao Yugang's house.

After the meeting, there was a friendly and warm greeting, and then Xia Yu and Bao Yugang drank tea in the living room and chatted about idle days.

After three rounds of tea, Xia Yu talked about the purpose of visiting tonight.

"Lao Bao, I came to you tonight, mainly because I have a not very mature idea, see if you can help, I plan to do it to Cathay Pacific!"

Bao Yu just wanted to pat his chest and say that it was okay, but suddenly heard Xia Yu's last words, his expression instantly became solemn, he looked at Xia Yu with burning eyes, and asked with concern: "Ayu, I remember that Cathay Pacific is not listed, right? Even its parent company, Swire Airlines, is not listed, how can you do it?"

"Wait...... Are you going to do something to Swire Shares?"

"This is the biggest foundation of the Swire Consortium, if you touch it, Norman Shi Yahuai will definitely have to fight with you!"

"How sure are you?"

PS: The data setting is too troublesome.,It's hard to write if it's strong, it's unrealistic.,It's not interesting to write a plot when it's weak.,The current degree is adjusted seven times.。

This month's update is not powerful.,It's the end of the month.,I'll make up for it as soon as possible.,Above!