Sun Hung Kai Securities Office.

Zhang Shaojie has now obtained the status of vice chairman, and his authority over the company is second only to Feng Jingxi.

At this time, Sun Hung Kai & Co. was in the midst of a frenzied business expansion phase.

Zhang Shaojie also came to the company twice in three days to discuss major matters with Feng Jingxi.

Sun Hung Kai Securities Co., Ltd., after receiving Zhang Shaojie's capital injection of 500 million Hong Kong dollars, in addition to supplementing Sun Hung Kai's liquidity, greatly alleviated the financial pressure.

In addition, during this time, mergers and acquisitions of a number of small financial institutions were launched in Hong Kong. Once these mergers are achieved, they will inevitably consolidate Sun Hung Kai Securities' dominance in Hong Kong's securities industry.

In addition to the merger of the securities industry, Sun Hung Kai Company spent 100 million Hong Kong dollars to establish a "Sun Hung Kai Insurance Company Limited", which mainly accepts pension insurance business.

Because the pension insurance cycle is relatively long, an adult starts to pay pension insurance at the age of 30, and if he retires at the age of 55, he pays the insurance money and insurance company in the 25-year cycle, which is equivalent to paying premiums in 25 years, and only after 25 years will gradually return to the user's principal and interest. During this period of time, you can make full use of the user's premium and make investment benefits.

In fact, insurance companies all over the world are investment-oriented. However, the level of investment in fixed assets and stocks of major insurance companies is uneven. There is Warren Buffett, who can increase the value of assets by 100,000 times in 50 years. There are also some insurance companies that fall into bankruptcy due to the failure of the investment, which makes the customer's funds go down the drain, and eventually leads to the inability to repay the customer's insurance money.

Zhang Shaojie suggested that Sun Hung Kai should use insurance companies to absorb the amount of insurance, which naturally will not let the user's premium go down the drain. In fact, at least until 2011, Zhang Shaojie could still see the situation clearly.

For Sun Hung Kai's insurance fund investment, Zhang Shaojie suggested that several parts should be used to select some well-located and suitable buildings in Hong Kong to make money from rent. Based on the annual rental yield of 4% and the average annual increase of 15% of Hong Kong buildings, you can get more than 50 times the income in 25 years.

30% of the funds are diversified in some excellent listed companies, and long-term holdings of HSBC, Cheung Kong Industrial, Sun Hung Kai Properties, Henderson Land, Hutchison Whampoa and other enterprises. When necessary, you can also invest in some big blue chips such as Coca-Cola and Procter & Gamble in overseas markets. Of course, after the establishment of China's stock market, when opening B shares to attract foreign investment, you can choose some B shares such as Vanke B and Shenzhen Development B.

Finally, 40% of the insurance funds can be used for risk investment. Invest in some outstanding companies that are not listed but have a future, and cultivate these companies to be listed. Eventually, more excellent will be supported for listing and financing

After reading it, Feng Jingxi was also quite excited, and said: "The back waves of the Yangtze River push the front waves, and in the future of the Hong Kong securities market, you will be one of the few people who will be the best!" ”

Zhang Shaojie shook his head and said: "The people of the year in the financial market generally don't end well in the end, I only want to be a low-key person!" For example, the Morgan consortium in the United States and HSBC in Hong Kong are the most able to obtain huge profits after the financial disaster. In the future, if I have the opportunity, I will be happy to become the savior of Hong Kong's financial industry! ”

Feng Jingxi couldn't help but be stunned, he didn't expect Zhang Shaojie to be so shameless. Claiming to be the savior of Hong Kong's financial industry, competing for this title with HSBC?

"Makes you laugh!" Zhang Shaojie said embarrassedly.

"Hehe, if someone else says something like this, I'll think he's crazy. However, you Zhang Shaojie said this, I believe it! Feng Jingxi said seriously, "Maybe in a few decades, you can have more strength than HSBC!"

"Dad, Boss Zhang, the name change of Sun Hung Kai Securities Company has been completed! From now on, it is Sun Hung Kai Bank, which has the qualifications of a comprehensive financial group, securities, banking, insurance, and investment funds, all available! All the securities companies in Hong Kong have been dumbfounded, watching Sun Hung Kai develop against the market! Feng Yongxiang said excitedly.

Feng Yongxiang is Feng Jingxi's second son, unlike his brother, who has no interest in securities companies. On the contrary, he has a lot of ideas about the management of Sun Hung Kai Securities.

"Great!" Feng Jingxi clapped his hands proudly, "Become a comprehensive financial institution, with securities, banks, insurance, and investment funds." This is the business territory that financial giants should have! ”

After the separation of the Three Musketeers of Sun Hung Kai Properties, Kwok Desheng, Lee Shau Kee, and Feng Jingxi were among the three. Only Feng Jingxi developed the most slowly.

Kwok Tak-shing's Sun Hung Kai Properties and Lee Shau-kee's Henderson Land are both among the top 10 real estate companies in Hong Kong. Therefore, the combined wealth of these two families is more than one billion dollars.

Feng Jingxi's wealth is only $200 million at most. Among the Three Musketeers, Feng Jingxi's career belongs to the existence of the bottom, and there is no pimple in Lao Feng's heart.

Zhang Shaojie also smiled, raised his glass and said: "Cheers, celebrate for the development of our career!" ”

"Cheers!" Feng Jingxi and Feng Yongxiang are also very excited.

When Zhang Shaojie bought the shares, he had already told the Feng father and son that he had no intention of taking away the controlling stake and management of Sun Hung Kai Company. I only hope that Sun Hung Kai can become a tool for its own financial investment.

Unless one day, the Fung father and son, who do not want to run Sun Hung Kai Company, can sell the shares to him. Otherwise, Zhang Shaojie would not have become the majority shareholder of this company.

When others say this, most of the Feng father and son will be skeptical.

However, Zhang Shaojie only owns a certain amount of shares in many promising companies, such as Baolong Film and Ming Pao Newspaper, and does not pursue control.

The assurances made by such people are highly feasible.

—————————— in January 1983, in the midst of a bear market.

A large number of excellent companies, the stock of which has generally plummeted below a reasonable price.

For example, the share price of "Hutchison Whampoa", which has begun to turn around, is only 1.6 Hong Kong dollars per share, and the total share capital is only more than 500 million shares. This also means that Hutchison Whampoa is basically only worth HK$800 million.

However, Zhang Shaojie knew that by 84 years, Hutchison Whampoa's performance suddenly tripled and increased year by year.

In 84 years alone, Hutchison Whampoa, a subsidiary of Li Ka-shing, announced a dividend of HK$4 per share, and the total dividend to shareholders reached 2 billion.

The long-term and stable increase in holdings of Hutchison Whampoa is a very tempting choice for Zhang Shaojie. However, Zhang Shaojie himself can't worry about stocks every day. Therefore, he intends to set up a special agency to help him deal with stock trading affairs.

In January 1983, Zhang Shaojie successively transferred 100 million US dollars to set up a "Shaojie Equity Investment Fund", and entrusted the regular management of this fund to Sun Hung Kai Company for management.

This equity investment fund was made purely in accordance with Zhang Shaojie's instructions, and the operator was a senior securities manager of Sun Hung Kai Securities.

Every year, the "Shaojie Fund" needs to pay a management fee of HK$10 million to Sun Hung Kai Company.

This management fee already includes transaction fees, as well as the salaries of managers.

"Mr. Zhang, I have gradually increased my holdings of Hutchison Whampoa shares according to your instructions. Today, it has increased its holdings by 700,000 shares, which has slightly stimulated the rise of the stock price. Chen Shaohe reported.

Zhang Shaojie nodded and said, "This is very good, as long as the stock price is less than 5 yuan, buy it with your eyes closed!" The market value of Hutchison Whampoa is now only 800 million. However, some of Hutchison's real estate and land are worth at least HK$5 billion. This is when the price of real estate is sluggish, and when the real estate recovers, Hutchison's reasonable valuation is at least HK$20 billion! ”

Chen Shaohe: "This is based on the premise of real estate recovery, with the current valuation of Hutchison's fixed assets is only 5 billion, and the debt is 4.5 billion, if the real estate market falls again, Hutchison will be insolvent!" ”

Zhang Shaojie smiled: "You are still the same old way." Never believed in miracles! ”

"The biggest miracle, Jianing Real Estate is almost bankrupt!" Chen Shaohe shrugged.

Zhang Shaojie couldn't help laughing and said with a smile: "Your answer makes me feel at ease to let you be the manager of this Shaojie Fund for a long time!" ”

In the following period, the "Shaojie Fund" steadily increased its holdings of Hutchison Whampoa Company's shares.

Of course, blue-chip stocks with very low valuations, such as Sun Hung Kai Properties, Cheung Kong Holdings, Swire Shares, and HSBC, are also targets for the "Shaojie Fund" to increase their holdings.

Zhang Shaojie believes that only in a bear market can you buy shares of good companies cheaply. As for the bull market, even the best company stocks have high valuations, which can only be speculated in the short term, and are not worth holding for a long time.

In the bear market, stocks are falling all the time, and the stocks of both good and bad companies are constantly falling into perennial declines.

This kind of world is always the opportunity for investors with a long-term vision to absorb cheap stocks significantly.

Looking at the rising equity ratio of his future potential bull stocks such as "Hutchison Whampoa", Zhang Shaojie said proudly: "Hutchison Whampoa is operated by a top management master like Li Ka-shing, so why worry about not making steady profits." However, Hutchison Whampoa's main competitiveness comes from Li Ka-shing's steady operation. If Li Ka-shing can't control Hutchison, he will naturally not operate with his heart. Therefore, it is enough to acquire a 10% Hutchison stake, if you hold too much Hutchison equity, Li Ka-shing will be jealous. When the time comes, Li Ka-shing will be passive and slack off, and even give up Hutchison, and the gains will outweigh the losses."

No one is more convinced of the future of Hutchison Whampoa than Zhang Shaojie, and even Li Ka-shing himself may not be as convinced as Zhang Shaojie.

(To be continued)