Three days later, Kowloon Group Commercial Building

Zhang Heng held a general meeting of shareholders at the Wharf Group, and the meeting finally decided that Zhang Heng would be the chairman of the board of directors of the Wharf Group, while the directors of the Jardine Matheson Department were greatly reduced, and their power was suppressed to a minimum.

At the shareholders' meeting, the directors of Wharf Jardine Matheson strongly opposed the appointment of Zhang Heng as chairman of the board, but it was useless because Zhang Heng already had an absolute controlling stake in Wharf.

In the end, due to the low compression of Jardine Matheson's rights in the Wharf Group, it was better than nothing, so Jardine Matheson transferred 30% of the Wharf shares in its hands to Zhang Heng's Oriental Real Estate Group at a price of 1.2 billion.

Therefore, now Zhang Heng's shares in the Wharf Group have reached a historical high, Zhang Heng's own shares plus some shares transferred by Jardine Matheson and some small shareholders, plus some shares repurchased by Zhang Heng when the stock price of Wharf fell to 40 yuan per share, and now the shares of Wharf in Zhang Heng's hands have reached as much as 97%.

Zhang Heng calculated, Zhang Heng used a total of 3.1 billion funds in the process of acquiring Wharf, and the current value of Wharf is about 6.5 billion Hong Kong dollars, so Zhang Heng made a big profit of 3.4 billion yuan in this acquisition.

Zhang Heng also checked the industries owned by the Wharf Group, which has the largest cargo port in Hong Kong, a deep-water wharf, an open-air freight yard, and a freight warehouse.

It includes most of the piers and warehouses on Tsim Sha Tsui, the New Territories and Hong Kong Island in Kowloon, as well as hotels, buildings, trams and the Star Ferry.

Zhang Heng had to sigh that Wharf has abundant assets and abundant resources, and Wharf can be said to have mastered most of Hong Kong's cargo handling, storage and transportation, and cross-sea ferries.

It is a pity that Jardine Matheson owns the Feng Shui treasure of Wharf, and it is a pity that it has not been able to develop it.

Zhang Heng checked the previous business situation, and Wharf has successively built famous buildings such as Harbour City and Ocean Center Building.

However, Zhang Heng found that he was very backward in terms of business methods, and they insisted on using their own assets to build buildings, only renting them out, but did not know to sell them when housing prices were high, resulting in a sluggish return of funds and plunging the group into a financial crisis.

And later, in order to understand the crisis, the former chairman of Wharf sold a large number of bonds to obtain cash, which made the group highly indebted, its reputation declined, and the stock depreciated.

Now he Zhang Heng is in charge, and Zhang Heng is thinking about how to develop and develop the treasure land of Wharf.

Otherwise, if he is not laughed at by the people of Xiangjiang, people will definitely say: "Zhang Heng will only be opportunistic, and he will not know anything when it comes to operation and management, and he is completely a waste of the Feng Shui treasure of Wharf." ”

A week after Zhang Heng became chairman of the Wharf Group, he convened a meeting of all 120 senior executives of the group.

At the meeting, Zhang Heng explained to them the problems existing in the Wharf Group, the symptoms of the problems, and the corresponding strategies.

Zhang Heng pointed out that Wharf's development method was too backward and the management was out of control, so that the company's structure became too complex and disorderly.

Mr Cheung also pointed out that the Group's information management and financial reporting were generally inadequate, inaccurate and coordinated, resulting in the management being unable to understand the severity of the problem and make a decision.

Zhang Heng found that the accounting and financial controls of the entire Wharf Group were very poor, and the headquarters could only estimate the profits of the various companies in the department in the form of reports, and many of the group's problems were caused by this lack of discipline.

At the conference, he presented to all senior executives the objectives to be achieved within the predetermined deadlines, including the establishment of modern financial controls, the resolution of outstanding litigation, the reduction of recurrent expenditures, the comprehensive debt reduction plan, and the elimination of loss-making departments and companies.

At the same time, Zhang Heng recruited a large number of Chinese high-quality talents in Xiangjiang to fill the middle management of Wharf to improve the status of the Chinese in the group, and at the same time, Zhang Heng determined a strict company system and improved the reward and punishment mechanism in accordance with the enterprise management methods of the 21st century.

Subsequently, Zhang Heng launched a series of drastic reform measures, first of all, to stop the losses of the subsidiaries, and at the same time to strengthen the communication between the head office and the subsidiaries, and then strengthen the management of each company and strengthen the financial foundation of the group.

Secondly, Zhang Heng split the Wharf Group, which formed the Kowloon Port Company with Cargo Harbour City, Ocean Center Building, Deep-water Terminal, Open-air Cargo Yard, and Freight Warehouse.

Zhang Heng formed the Kowloon Property Company with a large number of land parcels in the name of Wharf, including Kowloon, Tsim Sha Tsui, the New Territories, as well as hotels, buildings and other properties.

At the same time, Zhang Heng found that the Wharf Group also had two industries, tram and Tianxing Ferry, and Zhang Heng was wondering if there was a need to develop these two industries.

Trams are one of the oldest modes of transport in Hong Kong. In addition to being one of the main means of transportation for Hong Kong residents, Hong Kong trams are also one of the famous attractions for foreign tourists.

The Star Ferry is a famous and long-established means of sea crossing in Victoria Harbour in Hong Kong. The Star Ferry is a means of transportation with a long history of more than 100 years, along with the Hong Kong Tramway and the Victoria Peak Tramway.

The Star Ferry from Victoria Harbour is not only an important part of the cross-harbour transportation system between Hong Kong and Kowloon, but also one of the most affordable sightseeing journeys in Hong Kong.

After careful consideration, Zhang Heng decided to vigorously develop the two industries of tram and Tianxing Ferry.

Although trams and the Star Ferry will face competition from the Cross Harbour Tunnel Bus and the MTR in the future, they still have the advantage of being cheaper than taking the Cross Harbour Bus and the Cross Harbour MTR, not being affected by traffic congestion, and enjoying the sea scenery of Victoria Harbour.

The Star Ferry, which seems to be a little simple and outdated, has become a means of transportation that Hong Kong citizens can hardly abandon, and the profits it creates every year are still very considerable.

In the end, Zhang Heng expanded the scale of the tram and the Star Ferry, and then formed the Kowloon Transport Company.

In this way, after Wharf subtracts non-performing assets and a large number of loss-making companies, Wharf Group is left with three companies: Kowloon Port, Kowloon Real Estate and Kowloon Transport, which not only greatly reduces unnecessary expenses, but also has its core goals.

Kowloon Port is committed to developing a modern container terminal based in Hong Kong, and actively expanding its container terminal business in the Pearl River Delta, Yangtze River Delta and other coastal areas of China.

Kowloon Properties, on the other hand, focuses on property development as its strategic focus and is committed to land acquisition, financing, project development, design, construction and marketing, including increasing land bank

Kowloon Transport will vigorously develop the transportation industry to assist the better development of Kowloon Harbour and Kowloon Real Estate.

After a period of examination, Zhang Heng promoted three very capable Chinese as executive directors, and this Zhang Heng was in charge of the three companies when he was not there.

This way, the goal is clear, and there is no need to run around like headless flies like before.