Guo Chengze asked Feng Zhichu to go to the Rosedale Hotel to block people, and invited Shen Huai and Song Hongjun to come over to participate in the mobilization meeting of the Donghua group, in the final analysis, he still wanted to confirm that Song Hongjun would attend the next "Hong Kong Huaihai Week" event, and Shen Huai would not be too "low-key" in the next few days.

Shen Huai and Song Hongjun went to the Evergreen Hotel at night, that is, they showed up, chatted with everyone, talked a few nonsense, and stabilized people's hearts.

Leaving the Evergreen Hotel, Shen Huai specially invited Zhao Tianming, Wang Weicheng, and Guo Quan to the cruise ship dock in Victoria Bay and sail on a yacht.

Zhou Yu went back to the room to rest first, she had to take care of her image in front of outsiders, how could she accompany Shen Huai and them to the sea late at night.

This time, it is true that Xu Pei, Guo Chengze and others do not want Meigang to be too much of the limelight, and Guo Quan has the opportunity to come to Hong Kong as a representative of the enterprise this time.

If you want to say that everyone wants to think of Hong Kong, there is no need for provincial organizations, and most people in the Meigang system can go with them.

The key is that Shen Huai had thought that this trip should be "low-key" - since Xu Pei was worried that they would steal the limelight, he simply did not steal the limelight, Sun Yalin, Sun Qiyi and others did not return to Hong Kong - he did not expect the situation to suddenly become delicate.

Riding the yacht to sea, the starry sky is scarce, everyone sits on the deck of the yacht and drinks, blowing the sea breeze that is still gentle in Hong Kong in mid-November, Shen Huai told Song Hongjun, Zhao Tianming, Wang Weicheng, and Guo Quan about the events of the past two days.

Shen Huai only confirmed last night that Rongxin and Gu Jia's Baohe Department would intervene in the construction of the Nanwan Lake New Area, and it was only now from Guo Chengze that Vice Premier Zhao Jiahua would come over to "support the scene", and he didn't have time to communicate with everyone about the more mysterious details behind it; even Song Hongjun only knew the news that was deliberately released on the periphery, and he didn't know Shen Huai's specific plans.

"The old man of the Gu family has been in the hospital for three or four years, and he has already been considered a long life, he is unconscious and awake, and the Baohe Department is now almost Gu Zejun in power," Song Hongjun said, "The old man of the Gu family has a heart for his homeland, and after the reform and opening up, he and Huo, Dong, Li and others were the first batch of people to invest in the mainland and actively participate in the united front affairs of the Federation of Overseas Chinese, so he served as the vice chairman of the National Committee of the Chinese People's Political Consultative Conference in 88 years." However, the children of the Gu family may not be as sincere as the old man, and the old man of the Gu family could not support the management of the company's affairs later, and the power of the Baohe Department was gradually taken over by Gu Zejun and other Gu family children, and the investment of the Baohe Department in the mainland became conservative, and they were not so enthusiastic about the united front affairs of the Federation of Overseas Chinese. However, this financial turmoil also made Gu Zejun and others understand that it is not easy to maintain the home of 100 billion yuan, and it is not surprising that there can be such a change......

Although the shipbuilding base invested and built by Baohe Shipbuilding Industry in Donghua is an important pole of Donghua's shipbuilding and marine decoration industry, Baohe Shipbuilding can only be regarded as a less important branch of Baohe Shipbuilding, and the people of Donghua understand the origin of Baohe's Gu family, which is naturally far more familiar than Song Hongjun, who does not live in Hong Kong all the year round.

Song Hongjun also tried his best to explain the details of the entanglement of the branches and vines to everyone in detail.

Although the aftermath of the Asian financial turmoil has not yet completely passed, and although Hong Kong's financial market has also suffered heavy losses in the current Asian financial turmoil, it has finally survived the most difficult predicament, has not collapsed, and has entered a period of recovery.

The deeper economic and political factors behind the fact that Hong Kong's financial market can survive the most difficult predicament and quickly enter the channel of recovery are the deepest economic and political factors, and figures like Gu Zejun have the most profound experience.

The Baohe family controlled by Gu Jia has nearly 10 listed companies, and controls a huge industrial empire with a total market value of nearly 200 billion Hong Kong dollars through complex and intersecting equity relationships. It's just that the foundation of this industrial empire is not absolutely stable, and once there is a big turmoil in the capital market, the entire industrial empire is prone to turmoil.

It's not that the Baohe department doesn't want to become more stable, but it actually has to do with the inherent nature of the consortium.

Just like the industrial cluster under the Meigang system, Shen Huai wants to firmly control Meigang under his personal name, and the Meigang system is far from having such a rapid rise, and once he wants to continuously absorb external resources and expand rapidly with partners, no matter how strict the equity control relationship is, it contains unstable factors.

Once Shen Huai loses the ability and prestige of a leader, collaborators such as Berkeley, Wu Jia, West Youmings, Feiqi Industrial, and even including the Sun family's Evergreen Group, will choose to leave, and it is very likely that they will even cooperate with external competitors who covet Meigang.

It is not easy to maintain a 100 billion home.

If a small and medium-sized enterprise wants to develop, it can only look for and explore market opportunities, while for a chaebol group with more than 100 billion yuan, it needs a more proactive strategy, rather than waiting for the market opportunity to come.

In this world, there has never been a free market, and there must be deep political factors behind the larger and deeper market behavior.

The children of the Gu family may not have understood this truth before, but they had a somewhat disdainful sense of superiority in their hearts, so the Baohe Department, which Gu Zejun and others gradually came to power, has become conservative in its investment in the mainland in the past ten years, turning to Southeast Asia, which seems to be more free.

Although the Baohe Department survived the Asian financial turmoil, as long as they can appreciate the danger and the political transactions behind it, it is not surprising that Gu Zejun and others will have more pragmatic choices in the future.

It's just that the Gu family represented by Gu Zejun chose to be more pragmatic, but Shen Huai and them had a headache.

As far as domestic political factions are concerned, the real soul of the Hu family is Hu Lin's aunt Hu Ying, and then the outgoing former premier Hu Zhicheng, Hu Lin's father Hu Zhiyuan can only be regarded as a trivial part of the Hu family, and Vice Premier Zhao Jiahua is the core figure of the next Hu family, which can basically be determined to enter the central team now.

With the support of the Hu family, Zhao Jiahua and others, Gu Zejun carried out extensive cooperation with Cui Weiping and Rongxin, and entered Xucheng to strive for the leading right in the construction of Nanwan Lake New Area.

However, Shen Huai did not feel that he chose to stand by at this time, and after Cui Weiping, Chen Baoqi, Dai Lesheng and others joined forces with Rongxin and Baohe to successfully prevent Xu Pei from replacing Zhong Limin as secretary of the Huaihai Provincial Party Committee, the Meigang Department would be able to gain benefits, and after the Hu Department took power in Huaihai, the Meigang Department would be able to coexist peacefully with them and work together to promote local development.

Even if Xu Pei is an ambitious, not very ambitious person, and even does not forget to restrict the development of Meigang from time to time, in terms of promoting the development of Huaihai Bay, between the Department of Planning and Economics and the Hu Department, Shen Huai will still choose to have limited cooperation with the Department of Planning and Economics and Xu Pei.

"Although Xu Pei has not talked to me directly, the establishment of a provincial state-owned assets management company and the gradual promotion of the provincial state-owned operating assets into it is not too difficult for Xu Pei to choose, and the most controversial thing may be that the first step is to put those operating assets into it to be just right?"

"In addition to Dongshi Group, Dongjiang Electric Power, Huaihai Electric, Huaihai Rongtou, Xinyuanye, and Dongjiang Real Estate," Song Hongjun asked, "what other provincial state-owned enterprises can be placed in the provincial state-owned assets management company?"

Shen Huai said: "Sun Fujing did not come to Hong Kong this time, and I did not have a chance to talk to him, and whether the formation of the provincial state-owned assets management company and the internal supervision model are completely copied from the Temasek model will also be very controversial in the province, so many things are difficult to say very ...... now."

Although the direction of the restructuring of state-owned enterprises is to realize a modern enterprise management system that separates government from enterprises, has clear property rights, and has clear rights and responsibilities, in the process of restructuring, the separation of provincial state-owned enterprises from the original competent departments is not a one-step process.

Taking the expressway group as an example, it is actually still within the jurisdiction of the Department of Communications, and the source of funds for the construction of the expressway group is mainly the financial appropriation of funds for transportation infrastructure; the provincial electric power group is still under the system of the electric power administration bureau at the local level, and there is no modern enterprise system; the supply and marketing headquarters has not yet been abolished, and it is impossible for the control of the Huaishang group to be completely transferred to the provincial state-owned assets management office; and the provincial state-owned assets management office has no way to completely separate these enterprises and institutions from the competent departments of the traditional Chinese medicine research and pharmaceutical corporation under the health department, so Shen Huai took the first step in establishing the provincial state-owned assets management companyIt is still to concentrate the relatively successful enterprises in the divestment and restructuring for unified management.

In addition to Dongshi Group, Dongjiang Electric Power, Huaihai Electric, Huaihai Rongtou, Xinyuanye, and Dongjiang Real Estate, Shenhuai's most urgent hope is that Huai Coal Group can enter the provincial state-owned assets management company system in one step to coordinate development, which will be of great benefit to the development of Huai Power to the East and Huai Coal to the East in the future.

Shen Huai said to Song Hongjun again:

"The restructuring and reorganization of provincial state-owned enterprises, in addition to technology introduction and cooperation, still requires large capital participation, and in the future, there will be more eyes and thieves who want to find our loopholes. If possible, I hope that more industrial investment funds in Hong Kong that are similar to Hongji and Zhongxin, but have a lower degree of relevance, can participate in the reshaping of the provincial state-owned assets system.

In the past, Meigang almost developed and rose from scratch, and Sun Yalin and Song Hongjun were all participants and builders in the rise of Meigang, and it was natural to share huge benefits from it.

The work that Shen Huai has to do now is to sort out a clearer development context of the state-owned operating assets of hundreds of billions of provincial state-owned assets.

At present, Shen Huai only advocates that Meigang directly participate in the restructuring of some enterprises with clear asset liquidation and value-added state-owned assets in the process of restructuring.

For example, the provincial automobile restructuring, the provincial automobile previously audited net assets of less than 600 million, after the split and reorganization of the Dongshi Group and the new field, the value of state-owned equity assets expanded to 1.1 billion, and the profitability also changed suddenly.

However, some state-owned assets, on the basis of net assets, even need to be devalued before they can be restructured and reorganized, and the Meigang system must avoid it, and the opponent cannot be allowed to seize the handle of attack.

One of the main purposes of Dongjiang Real Estate after its establishment is to concentrate the idle land in the hands of provincial state-owned enterprises and the replacement land after the relocation of the factory area for development, so as to promote the industrial upgrading of provincial state-owned enterprises and the transformation of the old city of Xucheng.

In the development of these lands, it is necessary to introduce new partners, but because these lands have not been operated by the market of bidding and auction, their value assessment is a "quasi-black box" operation, in order to avoid the opponent to grasp the handle, Meigang can only avoid these cooperation projects.

It's just that Shen Huai still doesn't want to passively look for partners and attract investment for these cooperation projects, so promoting the establishment of new industrial investment funds that are not directly related to Song Hongjun, Sun Yalin and others and Evergreen Group can allow Shen Huai to seize the greater initiative in his hands.

"Does the newly established one count, or does the one that hasn't yet been established count?" Song Hongjun asked.

"How many of your younger brothers want to come out and form a partnership company?" asked Shen Huai with a smile.

"Hong Kong's financial industry is like this, no one is willing to be a little brother for the rest of their lives, but it's not right to force them not to get ahead," Song Hongjun sighed in a relaxed tone, "Hongji has several management levels, with good qualifications and understanding, and has accumulated some resources and wants to fly solo; ”

In the final analysis, the private equity investment fund company of industrial investment type does not use its own capital for investment and development, but gathers the capital and strength of other small and medium-sized investors and investment institutions to invest in the industry, and the scale is difficult to expand without limit.

Hung Kai's industrial investment fund has grown to a scale of US$2 billion, which is already considered to be the best in the industry, and the scale of investment may decline sharply, the investment efficiency and return rate may decline sharply, and the complexity and risk of management will increase significantly, and the attractiveness of investors will also be reduced.

At the same time, as a non-public fund, the scope of capital raising is limited, and once the attractiveness of investors within a specific range declines, the difficulty of further expanding the capital scale of the fund will naturally increase.

Rather than suppressing the ambitions and desires of its managers to go solo, it would be better to provide resources and help these people to set up new independent investment funds, which would be more conducive to the expansion of Hongji's influence.

Shen Huai knew that those people who Song Hongjun wanted to provide resources to help must also be what he valued, and those who were good for expanding Hongji and expanding the influence of the Meigang system, nodded and said, "I will stay in Hong Kong for seven days this time, and I will also have time to meet some more people." As long as the investment fund they set up can determine the main investment direction in Huaihai Bay, the provincial state-owned assets can even participate as the initiator in the name of Huaihai Financial Investment......"

The mainland has not yet opened its door to private equity funds, and the Huaihai Bay Government Construction Fund is only a specific sponsor of provincial, municipal and county governments, but there is no way to expand the scope of capital raising in the mainland. However, in Hong Kong's capital market, private equity is relatively mature.

Shen Huai plans to directly participate in the provincial state-owned assets, and also intends to use Huaihai Rongtou and other provincial state-owned enterprises as one of the initiators to invest in the establishment of partnerships or joint ventures with Hong Kong companies and investors, but to raise a larger scale of industrial capital in Hong Kong, and then return to Huaihai Bay to participate in various industrial investments.

In the final analysis, Shen Huai still wants to use less capital investment as an introduction and leverage capital to leverage or attract more industrial capital to participate in the local development and construction of Huaihai - this method is more proactive than direct investment promotion, and it can also promote the development of local state-owned enterprises or private enterprises in Huaihai.

Gu Jiabao and his department cooperated with Rongxin to strive for the leading role in the construction of Nanwan Lake New Area, which is only their first step. The total market value of the listed companies controlled by Baohe in Hong Kong is nearly 200 billion, and the capital that can be leveraged is far more than 10 billion. I don't want them to steal the limelight, Meigang and the provincial state-owned assets have a lot to do.

"Yu Wei wants to stick it on you shirtless, why do you ignore others?" Song Hongjun asked Shen Huai again.

Song Hongjun's words didn't have too much ambiguity, but Zhao Tianming, Wang Weicheng, and Guo all present couldn't help laughing.

Shen Huai shook his head and sighed, and said helplessly: "The old man of the Gu family has not lost his breath yet, Yu Wei wants to borrow us to get rid of the control of the Gu family, where is it so easy? Her enthusiasm, I can't afford it......"

The Gu family holds a total of about 25% of the equity of Baohe Shipbuilding, in addition to the 15% equity of the old man of the Gu family who directly transferred to the name of the young son born to Yu Wei when he was sober, the top-level holding institution of Baohe - which is also similar to the existence of the Sun family fund - Baohe Trust also holds 10% of the equity of Baohe Shipbuilding.

As the guardian of her son, Yu Wei controls Baohe Shipbuilding with 15% of the equity, and her position is far from stable.

At present, first, the old man of the Gu family has not left yet, and second, the performance of Baohe Shipbuilding is quite stable, so Yu Wei's position in Baohe Shipbuilding is quite stable.

Once the old man of the Gu family leaves the West, it is not difficult for Gu Zejun, the head of the Gu family, who controls Baohe Trust, to join other shareholders to expel Yu Wei from the board of directors of Baohe Shipbuilding.

Yu Wei has no ability to change the structure of other shareholders except for Dai Zi who holds 15% of the equity of Bao He Shipbuilding, and if she wants to completely get rid of the control of the Gu family and want to control Bao He Shipbuilding independently, she must fundamentally change the existing shareholder structure of Bao He Shipbuilding to ensure that the shares held by the shareholders who ultimately support her plus the equity held by her Dai Zi exceeds 50%.

Of course, it's not that there is no way to achieve this goal, it's just that Shen Huai is also angry with this woman and has no intention of getting in touch with her too closely.