PS: Upload the super high first, it's too late to correct the typo, you can watch it after ten minutes!

From the issuance of a general tender offer by Heung Kong Holdings to all shareholders of Hongkong Land to the completion of Hongkong Land's privatization and delisting from the Hong Kong stock market, the whole process lasted only half a month. When everyone was still a little stunned and didn't seem to have fully come to their senses, the biggest merger and acquisition case in the history of Hong Kong's capital market had come to an end.

The day Hongkong Land announced its delisting from the Hong Kong stock market coincided with the announcement that Oriental Group would officially open its new headquarters building, Oriental Tower in Central on Hong Kong Island.

Therefore, in the front page of the next day, "Ming Pao" used such a headline -- "The Change of Dynasty"! The history of the rise and fall of the Jardine Matheson Group can be said to run through the history of Hong Kong in the first 150 years. The Opium War was waged not so much by the British government as by Jardine Matheson!

Before the war between China and Britain began, Jardine's, the founder of Jardine Matheson, personally returned to London and lobbied the British government and parliament to pass a war resolution. After the war broke out smoothly according to their wishes, Jardine Matheson not only helped the British fleet formulate the entire battle plan and war strategy, but also actively provided the necessary logistical supplies and even military expenses for the British army on the expedition.

Even the proposal to occupy Hong Kong Island from the Qing government was strongly advocated by Jardinen to the British government. As early as 1842, a year before the signing of the Treaty of Nanking between China and Britain, Jardine Matheson had already built the first British building on Hong Kong Island.

Jardine Matheson can be said to be the most representative microcosm of the British colonial history in Hong Kong. And with the approach of the 97th limit, British capital has already begun to retreat in a planned way. But no one expected that Jardine Matheson Group would announce itself and Hong Kong, the place where it started, in such a way without resistance and almost crushed.

Of course. Jardine Matheson still has two listed companies in Hong Kong, and the combined market value of Jardine Matheson Holdings and Jardine Securities can still have 8 to 9 billion Hong Kong dollars. However, almost all of the core and high-quality assets of the Jardine Matheson family in Hong Kong are in Hongkong Land.

After the loss of Hongkong Land, Jardine Matheson has been reduced to a mediocre company in Hong Kong. And now the Keswick family, even the control of Jardine Matheson Holdings is beginning to falter. If Heung Kong Holdings is willing to spend more than a billion Hong Kong dollars. It is completely possible to include Jardine Holdings.

The media likes to make various high-profile interpretations of Hongkong Land's acquisition, believing that it is a milestone in Hong Kong's history. But for several shareholders of Heung Kong Holdings, the reason why they mobilized tens of billions of dollars is for business, not for the sake of will.

Among the five shareholders, except for Li Xuan, the net worth of the remaining four is inseparable from the real estate industry. Therefore, everyone is only interested in Hongkong Land, and there is not much interest in Jardine Holdings, which can be won by spending only more than a billion yuan. Otherwise, this 150-year-old company is likely to be completely wiped out in the clouds.

After the privatization of Hongkong Land was completed. The next step, of course, is to distribute the loot. Hongkong Land is a large-scale conglomerate that includes huge businesses such as real estate, retail, food, and hotels. One of the most coveted assets is of course Hongkong Land's large number of high-quality commercial buildings in Central.

Hongkong Land has a reputation as the "King of Central", and its business style has always been conservative, usually renting rather than selling its commercial properties. Therefore, in Central, where Hong Kong's land is at a premium, Hongkong Land owns nine high-end office buildings, including Swire House, Prince Building, Jardine House, Duke Building, Glouce Setar Building, Alexandra Building, Hong Kong Clubhouse Building, and the just-completed Exchange Square Phase 1 and 2.

Xu's China State Construction Group's business style is similar to that of Hongkong Land, and it also focuses on leasing commercial real estate. Therefore, Xu Shixun mainly got five commercial buildings in Central, including Landmark Phase I, Phase II, Swire, Prince Prince, and Jardine Matheson, which are located in Central, where every inch of land is valuable.

The direction of the Lin Group's real estate operation is commercial and residential, so Lin Kwai Tai did not compete with Kwok Henian for control of the Oriental Mandarin Hotel. Instead, the Lam Group chose to inherit a large number of Hongkong Land's residential properties in Mid-Levels, Sheung Wan, Causeway Bay, Tsim Sha Tsui and other places. and an Alexandra Building.

Guo Henian's Karrie Group this time in addition to the harvest, Hong Kong Mandarin Oriental Hotel is located in addition to the Duke Building. It also pocketed the entire Mandarin Oriental Hotel Company. It is important to know that Mandarin Oriental has a five-star hotel named after Mandarin Oriental in Hong Kong, Macau, Singapore, Bangkok and Manila. In addition, it has a 4-star Excelsior Hotel in Central, Hong Kong, and a luxury resort in Chiang Mai, Thailand!

Karrie Group is next preparing to spin off its Shangri-La Hotel Company, complete the integration with Mandarin Oriental, and then list on the Hong Kong stock market independently. The new company will also become the largest top-tier hotel group in Asia.

Although Mr. Fok Yingdong was one of the earliest Chinese businessmen involved in real estate development in Hong Kong. Even the initiative of selling off-the-plan properties was first conceived by him. However, since the 60s, Fok Yingdong has gradually faded out of the Hong Kong real estate industry under the suppression of the Hong Kong authorities. Since the early eighties, the focus of Huojia's investment has gradually shifted to Chinese mainland.

Huo Lao's assets this time are mainly owned by Hongkong Land Group, including Dairy Dairy Company, Maxim's Group, Wanning Pharmacy, Wellcome Supermarket, 7-Eleven Convenience Store, Shenchang Company, etc. Food and retail. The Fok family plans to integrate these businesses into a new Dairy Farm International Company, and then re-list on the Hong Kong stock market.

The only property that Mr. Fok asked to be included in his own property was a 19-storey commercial building in Tsim Sha Tsui, Kowloon. The name of this building is Xingguang Hong, which was built by Fok Yingdong in the early 60s by inviting four other Chinese-funded consortiums to jointly raise 30 million Hong Kong dollars, and was named Kowloon Commercial Building at that time.

However, during the Korean War, Huo Yingdong smuggled a large amount of strategic materials from Hong Kong to China. He accumulated the first pot of gold through this, and while he was known as Hong Kong's "red-top giant", he was also blacklisted by Britain and the United States. Therefore, since the completion of the leasing of Starlight Bank, it has been suppressed by the Hong Kong government and the US Consulate in Hong Kong.

In the end, Huo Lao was forced to put this new mansion later. The low price was transferred to the land company that took advantage of the fire to rob. In order to protect themselves, the Huo family began to gradually fade out of Hong Kong's business operations since then. Xingguangxing can be said to be the darkest moment in Huo Yingdong's memory, and now he can finally be ashamed!

As the convener of this acquisition and the largest investor, Li Xuan naturally obtained the most generous income this time. He first acquired two commercial office buildings, Gloucester Tower and Hong Kong Clubhouse Building in Central, as well as the edge of Exchange Square Two. A plot of land intended for the construction of Exchange Square Phase III.

In 1982, Hongkong Land purchased the exchange square land in Central at a sky-high price of 4.755 billion Hong Kong dollars, which became one of the important reasons for Hongkong Land's huge losses year after the outbreak of the real estate crisis in 82.

This prime plot has become a scarce resource as Hong Kong's real estate market recovers. Hongkong Land's recent completion of the opening of the first and second phases of the Exchange Square is a testament to the high occupancy rate.

Originally, the remaining plots of land had already been planned by the Land Company. It was used for the construction of Exchange Square Phase III. But after Hongkong Land was privatized, the land was assigned to Li Xuan's family. If the land is auctioned again now, it will be worth at least HK$1.5 billion.

Therefore, Hongkong Land has a huge hole due to the real estate crash in 82 years, after the Hong Kong property market began to pick up last year. It's been almost made up for gradually. It's just that sometimes the data reflected in the financial statements is a little bit behind.

For example, the first and second phases of Exchange Square have just been completed, and although the occupancy rate is very good, it has not yet had time to generate stable cash flow for Hongkong Land. However, the cost of building these two skyscrapers has already been accounted for, so Hongkong Land's financial report will not look good.

If there is another year and a half, when Hongkong Land eases up, Li Xuan and others will not be able to privatize Hongkong Land with only 16 billion Hong Kong dollars!

Of course. As a leader in Hong Kong's real estate industry, Hongkong Land also has a number of properties and land plots across Hong Kong. These assets were also divided among the five shareholders of Heung Kong Holdings.

In addition to two office buildings, a podium and a plot of land in Central, Li Xuan will also receive a large amount of equity from the other four companies when they independently list the assets they have carved up from Hongkong Land or merge them into their own original listed companies.

According to Zhuang Yuhai's estimates, Hongkong Land's assets have undergone this split and reorganization. After carefully packaging and re-listing, it is easy to achieve a market value of more than 20 billion. In other words, the gross profit margin of this acquisition is likely to reach 25%.

After the initial investment of the five shareholders is removed, each of them can have an increase in wealth of at least five or six billion. Li Xuan's equity in Hong Kong holding companies accounts for the highest proportion, even after excluding a series of costs such as bank loan interest and acquisition fees, it will definitely make a net profit of more than 1 billion Hong Kong dollars.

"Ah Xuan. You have given me enough support over the years, and you don't owe me anything! These assets will be left for my nephew and niece as pocket money, even if you don't give Xiao Nuomi and Xiao Tangyuan, you should make some plans for Xiao Doubao in advance!" Li Ke shook his head and pushed the transfer agreement back to his younger brother.

The Eastern Group is not ready to enter the real estate industry, so it will not buy buildings and collect rent. Li Xuan's LH Investment Fund, which is under his private name, is ready to take a share of Hong Kong's future property market profits. But its participation will also be based on buying shares of major real estate companies in Hong Kong. In fact, as early as '83, the LH Fund's portfolio has absorbed a lot of Hong Kong real estate stocks on dips.

In this division of the assets of the land company, Li Xuan included the two office buildings of Glough Rostar Building, the Hong Kong Club Building, and the land of Exchange Square Phase III for his eldest brother Li Ke.

"Hong Kong's real estate industry has gone through three cycles since it started in the 50s! The first real estate boom was in the early 60s, and Li Jiacheng, Guo Desheng and others all entered the real estate industry at this time. Then, in the mid-to-late 60s, there was a run on Hong Kong's banking industry, coupled with the domestic WenGe turmoil transmitted to Hong Kong, causing the first Great Depression in Hong Kong's property market!

Zheng Yutong of New World Group took advantage of this opportunity to acquire a large number of properties at a low price! There are also people like Li Jiacheng, Guo Desheng and others, who have also taken advantage of the collapse of land prices to reserve a large amount of land!

Hong Kong's property market then came out of the trough in 1968 and re-entered an upward cycle. This upward cycle lasted for five years, and then fell into a trough again because of the oil crisis in 1973!

And like Li Jiacheng's Cheung Kong Group, Guo Desheng's Sun Hung Kai Properties, Zheng Yutong's New World Group, and Hu Yingxiang's Hopewell Industrial, all took advantage of the Hong Kong stock market and property market boom in 1972 to ride a bull to go public, and circled a large amount of money.

After the collapse of Hong Kong's real estate industry in 1973, these Chinese-funded real estate developers, like the previous property market downturn, took the opportunity to reserve land at a low price and waited for the property market to continue to expand after the property market turned up.

The third upward cycle of Hong Kong's property market was from 1975 to 1982. After the Hong Kong property market peaked in 1982 and accumulated a large number of bubbles, it collapsed again due to the political turmoil in the Sino-British negotiations!

Since last year, Hong Kong's property market has gradually come out of the trough and begun to enter a new round of upward cycle! Looking at all the rapidly rising Chinese-funded real estate developers in Hong Kong, all of them have stepped on the rhythm, taking advantage of the trough period of the market to reserve a large amount of land, and then reaping huge profits after the property price has picked up!

According to my judgment, the next round of property market upswing in Hong Kong may last for a long time. And your Kunpeng Real Estate, under my deliberate suppression, has missed the best opportunity to continue its strength in the previous two years!

Our brothers settle accounts, because of my reasons, Kunpeng Real Estate lost the opportunity to triple jump, and I naturally have to make up for it now!" Li Xuan handed over the transfer agreement that the eldest brother had pushed back again.

In fact, as early as the beginning of 1983, Li Ke had already established a real estate company called Kunpeng Real Estate. However, after the establishment of Kunpeng Real Estate, that is, when the Hong Kong property market was at its lowest, some properties were purchased at low prices!

The only large-scale project was to take over a half-built commercial and residential property in Sha Tin, when the veteran Chinese-funded real estate company, Carnival Group, was in bankruptcy and liquidation.

Behind Li Ke stands the younger brother of the world's richest man, so Kunpeng Real Estate has no problems in terms of funds. And the reason why it did not take advantage of the opportunity to acquire a large amount of land in the previous two years was indeed because of Li Xuan.

Real estate investment is profitable, and this is almost a consensus in Hong Kong. And Li Xuan has a lot of money in his hands, so the bigwigs of Hong Kong's real estate industry have actually been very wary of the giant Oriental Group coming in to grab food.

The ultra-high profitability of the Oriental Group has made Li Xuan's cash flow very abundant, and other companies can't compete with him at all. But the cake of Hong Kong's real estate industry is so big, if Li Xuan eats more, it means that others will eat less!

When Li Ke won the land for the former site of the Central Fire Station in the name of Kunpeng Real Estate, the bigwigs of Hong Kong's real estate industry panicked and shouted that the wolf is coming! It was not until the Oriental Group announced that this land would be used to build the group's new headquarters building, and everyone was relieved!

Li Xuan's rise is too fast, and the hidden danger is that his foundation in Hong Kong is unstable. So it is important for him to have fewer enemies, and almost all of Hong Kong's most powerful interest groups are concentrated in the real estate industry.

In order to dispel everyone's suspicions, Li Xuan not only never had the intention of entering the real estate industry, but even his eldest brother had the intention of entering the real estate industry, so he had to suppress it......!