Wednesday, March 15.

Lin Zuhui urgently summoned Chen Xiaofen and Gao Yi for a meeting in the office.

"The plan has changed, now that New Era Group has sold all the rental properties, it will launch a Diligent Pavilion next week and try to complete the sale this month."

Chen Xiaofen hurriedly said: "No problem, I'll arrange it immediately!" Diganda Court is the most luxurious residential property in Hong Kong, and living in this luxury residential community with a wide view and beautiful surroundings will definitely cause hot sales. ”

Lin Zuhui nodded, although a set costs 12 million ~ 20 million, there is no shortage of rich people in Xiangjiang; When the time comes to launch it, even the rich people like Lee Shau-kee can't help but buy a few units as investments.

In fact, the reason why he temporarily changed his strategy and started sales more than a week in advance; It is because according to some news analysis, at the beginning of May, real estate will fall, followed by a crash.

To be on the safe side, it's better to be a little ahead!

Lin Zuhui said to Chen Xiaofen again: "Recently, I have been selling off-plan properties, and I am a little worried! ”

Although she doesn't know what the boss is worried about, Chen Xiaofen never shouts difficulties, she will only do her best to complete it.

"Well, I'll try harder!"

Lin Zuhui nodded appreciatively, he didn't like his subordinates to talk about difficulties with him.

Then, Lin Zuhui said to Gao Yi: "All the scattered rent-collecting properties of Chinese Real Estate will be released to me, and all the intermediaries I have cooperated with will be organized. The price is parity, and it doesn't hurt to pay a little higher fees to those intermediaries. ”

Gao Yi also saw that the boss was determined not to scatter the property, so he said without hesitation: "Okay, I'll prepare it right away!" ”

Lin Zuhui advised: "You can't sell it at a reduced price, you can sell it according to the market price... (think about it).... Well, within a 5% discount, you can still consider it, but don't cause panic in the market. ”

"yes, I see!"

After the two left, Lin Zuhui calculated in the notebook:

If it is really possible to sell all the scattered properties (including the whole floor of office buildings \ small shopping malls) of Chinese Real Estate before May, it is expected to return 4 billion funds.

At the beginning of the year, Chinese Real Estate had 2 billion in cash (rights issue + loan), and recently cashed out blue chip stocks, cash on the books, and rent added up to almost 1.5 billion, plus 4 billion in the sale of scattered properties, a total of 7.5 billion in cash.

However, the cost is very large, Wan Chai Diwang's land fee is 1.8 billion (50% equity), and Yongan Group spent 800 million yuan on the acquisition, and 2.6 billion has been removed.

There is still 4.9 billion cash flow left!

Of course, Chinese Estates originally had a debt of 3 billion, and then the total construction cost of the three projects of Entertainment Building, Garland Center, and Central Plaza needed to be more than 2.3 billion yuan (Central Plaza only needed to contribute 50% of the construction cost, accounting for half of the equity).

This is equivalent to an increase in debt to 5.3 billion, which is not counting the annual interest of three or four billion (debt is not a one-time top-up)!

The period from the second half of 1989 to 1992 in Hong Kong's office buildings would be a low point, as many foreign investors began to flee and then turned back. In addition, all the scattered rent-collecting properties have been sold, and the net profit of Chinese Estates is expected to be only about 5~600 million yuan in the next two years (the office rent reached its peak in the first half of this year, and the net profit of 8~900 million yuan can be obtained according to the market for the whole year).

However, there are only 12 buildings left in the property of Chinese Estates:

7 buildings in Central District: Chinese Centre Block A and B (Admiralty), Entertainment Building (under redevelopment), Wang Kee Building, Lok Ko Building, Printing House, Lok Shing Hong

Wan Chai: Harcourt Building, Central Plaza (site, in preparation)

Causeway Bay: Windsor Tower, Garland Centre (site, under construction)

North Point: Lok Kee Hang

With a total of 4.6 million square feet of rented area, of course, it should be necessary to subtract half of the interest in Central Plaza by 70 square feet, which is only 3.9 million square feet; Subtracting the area under construction, there are actually only more than 260 square feet of area under rent.

If all the cash flow in the first half of this year is used for loan repayment and construction expenses, in fact, Lin Zuhui has become the third largest real estate company in Hong Kong after Hongkong Land and Wharf (3.9 million square feet of rental area), and Swire Properties is not a real estate company.

Of course not! Not satisfied!

After the crash, Lin Zuhui will take the cash and go to talk to Hongkong Land!

He has already set his sights on Hongkong Land's seven shopping mall properties and a building, and plans to take advantage of the collapse of real estate and the panic of foreign capital to negotiate the acquisition at a premium of 10% to 20%. (PS: Although Hongkong Land intends to withdraw from Hong Kong, it is not stupid, it is impossible to sell at a low price at the trough of the market, and it is generally sold gradually after the real estate recovers slightly)

Thinking of this, Lin Zuhui wrote in his notebook: Causeway Bay World Trade Center (Building), Excelsior Shopping Mall, Silverport Center Shopping Mall, Ocean Terminal (four-storey large shopping mall), ..... A list of eight properties.

He is well aware of Hongkong Land's assets and knows that Hongkong Land is open for sale except for the seven super towers in Central.

Among them, the Xingang Center shopping mall and the Ocean Terminal are located on the Wharf, especially the Ocean Terminal, which was invested by Jardine Matheson (also funded by the Hong Kong government) rather than Wharf Investment in the 60s, so it was not acquired by the Bao family; The Silvercord Centre shopping mall, which is on Canton Road, is also very close to Harbour City.

These investments should be in the range of 5 billion ~ 6 billion!

In this way, as long as these properties are purchased, the rent of ACN will rise again!

At that time, the rent will not only pay off the interest, but also support the cost of construction.

Putting down the pen, Lin Zuhui was very satisfied with his arrangement!

Although a lot of scattered properties were lost, they were replaced by entire buildings and shopping malls.

As for those scattered properties, Lin Zuhui happened to set up a real estate fund under Hengjin Investment to manage the family's property investments (including 50% equity of Furama Hotel, 30% equity of Central Plaza, and 70% equity of Diligon Dege Project), which were later directly incorporated into the family office.

........

Lin Zuhui was invited by Rong Gongzi to come to Xiangjiang Huaxin Company.

As early as April last year, after the new era united with Baoli Technology to defeat Cheung Kong and Huaxin and get the property on the Lantian subway station, Rong Gongzi expressed his goodwill many times, in his opinion, Lin Zuhui is more powerful than Li Chaoren in some aspects, and Huaxin should also pull him as a backer.

After a warm greeting between the two of them, they sat down on the sofa.

Rong Gongzi said sincerely: "Lin Sheng, my father sincerely invited you to serve as a director of CEFC, and I hope you don't refuse!" ”

Lin Zuhui suddenly hesitated, the so-called 'one mountain does not allow two tigers' is the current situation. Li Chaoren has been a director of CEFC for nearly ten years, and the competition between Lin Zuhui and Li Chaoren has just begun, although he does not mind having a good relationship with CEFC, but he has hesitated on this matter.

Rong Gongzi was also a little stunned when he saw Lin Zuhui hesitating, isn't this a good thing?

However, he remembered that the attention paid to this person by the capital was no less than that of Li Chaoren, and he knew that Lin Zuhui's status now, and he controlled the tongue and throat of Xiangjiang, which was especially important for politicians, not to mention that it was an eventful time now.

After a long time, Lin Zuhui said: "Will it cause inconvenience to CEFC, as far as I know, Li Chaoren is also a director of CEFC!" ”

This is very straightforward, the introduction of two Xiangjiang elders into CEFC may not be a good thing for CEFC!

Rong Gongzi immediately understood that this person regarded Li Chaoren as a competitor, and he was really courageous!

Of course, no one is qualified to doubt Lin Zuhui's strength!

"No, everyone is a Chinese compatriot, what's inconvenient there!" Rong Gongzi hurriedly said.

He didn't want to care about the competition between the two elders, he only knew that tying Lin Zuhui would definitely work very well in Xiangjiang.

Lin Zuhui said with a smile: "That's not necessarily! For example, I want to participate in the investment in the Asia Satellite 1 project, and I have to have the same shares as everyone else! ”

Yung Gongzi was suddenly embarrassed, although the project was led by CEFC, but the British Great Tung and Hutchison both accounted for one-third of the shares.

"Mr. Lin, in fact, we at CEFC must support you, but as you know, we only hold one-third of the shares, and the other two parties account for the other two-thirds of the shares."

Lin Zuhui nodded, Rong Gongzi's attitude was still good, so he didn't plan to dwell on this.

Instead, he stepped back and continued: "Then I will first book to sign a lease of 12 satellite communication transponders, can Rong Gongzi facilitate it?" ”

At this time, Lin Zuhui completely occupies the active side, anyway, if you want to win over yourself, then you will want to benefit. If CEFC is sincere, then he will also help them plan for a backdoor listing. If CEFC is not sincere, then Hengchang in the future will also intervene.

He is not afraid of offending CEF, now ATV's ratings are 4:6 wireless, and Lin Zuhui controls the largest media group, plus Ming Pao Group is also about to arrive (Ming Pao Group has more influence than Wanhui Media), so he has enough capital, and it is more important than Li Chaocheng in the mainland. What's more, Lin Zuhui is still a native of the mainland, and it may not be necessary that he will pay more attention to it.

Rong Gongzi immediately said: "There is no problem with this, I will definitely help you convince the other two shareholders!" ”

Lin Zuhui said with a smile: "You only need to convince one shareholder to pass, right?" ”

Rong Gongzi suddenly smiled awkwardly, he knew the competitive relationship between Lin Zuhui and Li Chaoren.

"Anyway, I'm trying my best to get this cooperation!"

Having said that, Lin Zuhui naturally won't put on a score anymore.

"Does CEFC Hong Kong want to go public?"

Rong Gongzi suddenly became a little excited, if you talk about backdoor listing, this is an expert, and others started with this.

At this time, Liang Botao's Peregrine had not yet been listed on the backdoor, and in his previous life, CEFC saw Peregrine go public and went public in the same way.

Due to the global stock market crash, Chinese enterprises have taken a wait-and-see attitude towards raising funds in Hong Kong, and mainland enterprises still have some scruples about Hong Kong's capital market. Of course, scruples are scruples, but Yung Gongzi really wants to list CEFC Hong Kong in order to realize his ambitions.

At this time, CEFC Hong Kong owned more than 70% of the equity of K. Wah Bank, 12% of Cathay Pacific Airways, 24.5% of the Harbour Tunnel, 20% of CTM, 33.3% of Asia Satellite Communications, and some investment properties.

If it is through a backdoor listing, referring to Lin Zuhui's development history, CEFC can soon become a giant.

Rong Gongzi nodded hurriedly and said, "Please also ask Mr. Lin to join our CEFC board of directors and give us some guidance in this regard!" ”

Lin Zuhui pondered for a while, but still said: "To become a director of CEFC, I need to think about it carefully, because I have some concerns!" But I hope that CEFC will first urge us to help us lease satellite transponders; In return, I can advise on some advice for CEFC's backdoor listing, which I believe will be of great help to you. ”

In the cable TV dispute last September, Hutchison Whampoa chose to give up at the last minute because the Hong Kong government raised the conditions for capital guarantees and high patent taxes. At this time, I don't know if Li Chaoren has this idea, but Lin Zuhui knows that Hutchison Whampoa should sign a lease transponder with Asia Satellite next year.

Rong Gongzi asked: "Do you plan to lease the transponder for the news agency or for satellite TV?" ”

When Lin Zuhui heard this, he was inspired and said quietly: "It's okay, in short, it's very useful!" ”

Rong Gongzi immediately understood that this was guarding against Li Chaoren, but this happened to be more convenient for him to facilitate this deal.

"Mr. Lin thinks we should go public through a backdoor listing?" Rong Gongzi still planned to probe Lin Zuhui's tone.

Lin Zuhui said with a smile: "Backdoor listing is first of all shell, I don't know if you have any goals?" ”

Young Master Rong shook his head!

Backdoor listing is a term used in the stock market, and in principle, the listing of a company in Xiangjiang requires more than five years of business performance, and a normal listing requires considerable manpower, financial resources and time. Therefore, backdoor listing is the best choice.

Chinese companies have little experience in Hong Kong and their accounting system does not meet the listing requirements, so it is generally difficult for them to list through normal channels. Therefore, backdoor listing is basically the only option for listing.

Lin Zuhui said casually: "Cao Guangbiao's Taifu is good, Taifu operates real estate and investment, and its business is in good condition. And Cao Guangbiao is busy fighting with Guotai, his financial resources are exhausted, and he is anxious, and it is very likely that he will reach his intention. Of course, it is important to take your time and find the right time. If you have time, I'll call Liang Botao later, and let's sit down and talk! ”

In this life, Liang Botao has actually become Lin Zuhui's senior staff, and his relationship with Li Chaoren is not as good as in his previous life; Of course, Peregrine's other boss, Du Huilian, is Li Chaoren's senior staff.

Therefore, some people jokingly say that behind the two bosses of Peregrine, there are two real elders.

Rong Gongzi's eyes lit up, about the issue of shells, in fact, he and Li Chaoren had already discussed, but they were definitely not as confident as Lin Zuhui.

This is the elder of the capital market!

In terms of influence in the capital market, no one in Hong Kong is as famous as Lin Zuhui, not even Liang Botao.

Where did Lin Zuhui's huge financial resources come from, half of them came from the capital market, which is a consensus in the business circle. Otherwise, according to Lin Zuhui's apparent strength, the several rights issues of the New Era Group, how can Lin Zuhui, a person who has no family backing, raise funds.

"Thank you Mr. Lin for your guidance, don't worry, I don't think there is any problem with leasing a transponder!"

Lin Zuhui nodded, Asia No. 1 has 24 transponders, and leasing half of it is equivalent to cutting off Li Chaoren's idea, saving his son from being a traitor and selling satellite TV to Murdoch.

And satellite TV is still very profitable, together with the rental of transponders, it almost invests 3 billion Hong Kong dollars; In the previous life, after the Li family operated for 20 months, it sold 6 billion Hong Kong dollars; Importantly, there is also nearly $360 million in advertising revenue (not net profit, compared to $80 million in annual costs for maintaining five channels, not including costs such as option investments).

Lin Zuhui plans to let New Era Group do this business, and he doesn't plan to sell it!

Although satellite TV was not allowed to broadcast Cantonese channels at first (under the pressure of wireless, ATV, and cable, the Hong Kong government stipulated it), in fact, two years later, the Hong Kong government liberalized this rule.

In short, it's a lucrative deal.

Just taking advantage of Huaxin's co-optation of himself, he can cut the plum cucumber again.

Satellite TV and ATV will not overlap too much, and satellite TV has at least three channels that broadcast foreign programs. (U.S. satellites can't cover Asia, while Asia-1 covers Asia, Africa, etc.), and the cost of the other two programs is relatively acceptable.