183 Hutchison's Annual Meeting

After all, it is close to the sea, with the Star Ferry that can go directly to the downtown areas such as Central on Hong Kong Island, and there is also the Hung Hom Cross Harbour Tunnel nearby, and the train that transports the daily necessities of the whole Hong Kong from the mainland is also unloaded after arriving in Hung Hom, and the multi-party alliance drives the population and economy of Hung Hom.

What really makes many people in Hong Kong pay attention is that Hutchison was still in debt half a year ago and almost went bankrupt, but now he has the ability to come up with a one-time fund of 400 million Hong Kong dollars to convert this land into a business.

Moreover, since the industrial transformation has been carried out, it must be developed immediately, otherwise, it is not a fool to spend 400 million yuan and then put the land there?

And with such a large project, there is so much room for movement in it.

On January 8, Hutchison Building Headquarters:

Today, the top of Hutchison's inner pyramid are gathered here, as this is the first formal annual management meeting since the merger of Hutchison Whampoa, and the main purpose is naturally to summarize last year's achievements and goals for the next year.

In the conference room on the highest floor of the Hutchison Building, about 20 Hutchison executives such as Richard, Zhou Jiayang, Cai Xiangnong, Wei Peter, Xia Boyu, John Jones, etc., were already waiting in the conference room.

After a while, the door opened, and Chen Zhiwen walked in with a secretary.

"Hello chairman." Everyone stood up.

"Sit down." Chen Zhiwen beckoned.

It has been more than three years in Hong Kong, and he has become accustomed to meetings without computers and other electronic products, opening his folder and notebook, which were prepared for him by the secretary before the meeting.

"Ladies and gentlemen, the main purpose of this meeting is to summarize the development of Huang and Huang in the past six months, as well as the future development plan." Chen Zhiwen paused and said: "From the official establishment of Hutchison to today, it has not been half a year, but in the past six months, we have given up a lot of business, but we have also achieved higher improvement in some businesses, so I want to thank you in advance." ”

After speaking, Chen Zhiwen was the first to applaud, and then everyone applauded at the same time, and more than half of the Chinese were even more excited.

In the past six months, Chen Zhiwen has also promoted outstanding Chinese many times, sending Chinese to the top management of Hutchison, while some British ghosts who are not obviously subservient have directly sold all the businesses that the other party is responsible for.

Disobedient? Your business is gone, what else do you want to do?

Originally, in history, Li Jiacheng did not dare to attack British capital after holding Hutchison, because he wanted to take over most of Huang's normal business and wanted to take over all of them smoothly, but Chen Zhiwen is different, except for a few cores, the others don't matter at all.

With a golden finger that knows the future, even if it only develops one business, it can reach a great scale, and normal people, even if they are as strong as Li Jiacheng in terms of business ability, also have this strong uncertainty about the future, in the uncertain situation, many of Hutchison's businesses are developing normally, plus there is no absolute certainty, Li Jiacheng naturally did not dare to do anything to Hutchison's management at will, until after three or four years of running-in, slowly sent people to infiltrate Hutchison, in the original history of 1983, Li Jiacheng officially drove out Hutchison's British ghost high-level.

Because Li Jiacheng didn't dare to move the ghosts at will, the ghosts were very arrogant, squeezing out the Chinese everywhere and fighting for the rights of the company, and now it is completely the opposite, a large number of businesses are sold, and only those who are willing to coax can stay, and those who are unwilling will get out of the house together.

If it weren't for the consideration of Hutchison's overseas business in the future, coupled with his original promise to Richard and the need for British ghosts in the port and some businesses, Hutchison would have been completely taken over by the Chinese.

"Next, let me introduce the development of Hutchison's internal business." Richard stood up.

"Let's start with the trading business."

Richard introduced Hutchison's business step by step, expressing the results of the previous year in the clearest and clearest figures.

"Hutchison Trading Company, last year's total transaction volume of 670 million Hong Kong dollars, including 85 million Hong Kong dollars in mechanical processing equipment and mechanical products, 210 million Hong Kong dollars in construction, 108 million Hong Kong dollars in steel products, 73 million Hong Kong dollars in clothing, 87 million Hong Kong dollars in automobiles, motorcycles, bicycles, and 107 million Hong Kong dollars in other categories, an increase of about 16% year-on-year, mainly from steel and construction, with a net profit of about 21 million Hong Kong dollars."

"Last year's real estate market can only be said to be a little better than 74 years, there was such a big increase, so before the real estate crisis, how much was the amount of this kind of transaction in a year?" Chen Zhiwen asked.

Hutchison's trading business is actually one of the main businesses, the amount is not small, Chen Zhiwen also knows, but he doesn't care too much, because the main demand for this trade is Hong Kong, that is, what Hong Kong needs, Hutchison Trading buys back from overseas, and the upper limit is limited by Hong Kong.

"In 1972, the transaction volume of Hutchison Trading was almost 890 million Hong Kong dollars, and Qi Dezun was ready to rush one billion at that time, and then he encountered a real estate crisis." Richard replied.

"Billion? That's not bad either. Chen Zhiwen nodded and said, "You go on." ”

In Chen Zhiwen's definition, it belongs to the second class level, which can make money, does not have too much risk, and does not have heavy investment, but has little potential, and is bound by Hong Kong, and may have a certain value when Hong Kong real estate explodes in a few years.

The business of trade was relatively simple, and Richard soon talked about the port berth business, the shipyard, the warehouse, the wine, the insurance, the hotel and so on.

After listening to it for a while, Chen Zhiwen felt that it was too miscellaneous, even after last year's big slimming, Hutchison's business is still too much, in his expectation, seven or eight core businesses are actually enough, and each business will be well developed, not to mention that each one is to the world level, as long as it can have enough status in the region.

After a while, after Richard finished speaking, Zhou Jiayang took over and talked about Hutchison's real estate business.

"Ladies and gentlemen, Hutchison's current real estate business has a total of 38 property projects under development last year, of which 21 projects are in cooperation with outsiders, Hutchison does not participate in the operation, only responsible for financial supervision, and the other 17 projects are done by ourselves, and now they are being pre-sold one after another.

The total value of these projects under development is about HK$1.05 billion, the debt is 690 million, and after the completion of the project this year, the expected net profit is about HK$130 million.

We and Wong still have a lot of land in our hands, as well as some warehouses and old buildings in good commercial locations, but this year, we are not going to develop these places, but we want to gather the strength of the whole company to develop our land in Hung Hom, which is the upcoming Whampoa Garden. ”

"Whampoa Garden?" Several people in the conference room looked at each other, and they all knew about the recent industrial and commercial transfer of this land.

Chen Zhiwen said: "Qianqian, send the layout plan." ”

"Okay." The secretary Qianqian sent all the drawings down.

Cai Xiangnong took the drawings and saw at a glance the dense floors, there were dozens of buildings, and in front of the building, there was a large commercial plaza called Huangpu Square.

"This is the top view of our Whampoa Garden, a total of 93 residential buildings, with an area of 500-1,300 square feet, mainly small households, with a total of 16,885 households, and a large commercial plaza in front of it, with an area of almost 1.6 million square feet.

Later, the famous business model of Wanda Plaza in the mainland was not an invention of Lao Wang, or even an invention of Hong Kong, but it is not clear where it originated, but Hong Kong also had similar property projects very early.

The same is true of the Huangpu Garden project, the rear is a large number of residences, the front is a large commercial plaza, there are a large number of entertainment, catering, supermarkets and other projects inside, in order to facilitate the future residential owners, and tens of thousands of stable customers behind will also be a stable source of customers for the commercial plaza, plus there are special hotels and office buildings above the shopping mall, which also has the same effect.

Several are bound to each other to form the most basic stable structure of interests.

Chen Zhiwen continued: "How to build this project is not a topic to be discussed today, but I want to say that because of the agreement I reached with Governor MacLehose, Whampoa Garden will not be built in a few buildings like Taikoo Shing, but will be divided into three phases, the first phase of 20 buildings, the second phase of 30 buildings, and the remaining 53 buildings in the third phase, and I need to pre-sell all the residences before the end of 1978."

Whampoa Garden, twice the size of Taikoo Shing, is arguably the largest residential project in Hong Kong's history, and a lot of resources from the entire group will be tilted towards this project, but don't worry, we won't be arbitrarily diverting funds from various businesses. ”

In fact, from the perspective of Hong Kong's future land price trend, although there will be a halving of housing prices in 1982-1984, this is compared to the highest point in 1982, in fact, the lowest price in 1984 is about the same as in 1980, the whole real estate crisis, the worst is actually those leeks in the high market.

Compared with the current 1976, the house price in 84 years has still increased several times, so from the perspective of real estate income, it seems more cost-effective to build it for a long time, if the land of Hung Hom Port is all built into high-end apartments, high-end hotels, office buildings, and shopping malls, it will definitely be worth more than two or three hundred billion Hong Kong dollars in 20 years.

But beyond real estate, there are many special opportunities that are much stronger than real estate in Hong Kong, such as a major financial opportunity in 1979.

This is also why Chen Zhiwen decided to develop all the land in Hung Hom into a community, like Li Jiacheng, and then sell it, because if he gets enough cash, there will be a more suitable investment, besides, such a large land, no matter what is built, it will probably require 2 billion Hong Kong dollars, if he holds it, then he has to play Hutchison to death, which is now in debt.

Even if there is no financial market, the money will be in hand and then continue to develop, and then there is a similar ability to Li Jiacheng, the money will be much more than holding Central Property, unless the scale is too large, the capital is unlikely to double, then it can only be invested in real estate like Hongkong Land.

"Understood." Zhou Jiayang nodded and said, he naturally knew what the boss meant.

“OK。” Richard also agreed, and the others naturally expressed their own positions.

It just didn't let a few British ghosts put their minds at ease, and it may be true that they didn't withdraw funds, but when they were really short of money, they sold our entire business department.

It is much easier to convert a completely unfamiliar hutchison into an understandable and promising business.

After the meeting, Chen Zhiwen personally invited Zhou Jiayang to a steakhouse downstairs in Hutchison to compensate for the high-end craftsmanship of a Michelin-starred chef from France.

"Chen Sheng, Hutchison paid the Hong Kong government 420 million Hong Kong dollars, and the land is about to be leveled, we need to borrow from the bank, and now the land in Hung Hom is a very good mortgage." Zhou Jiayang said with a smile.

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(End of chapter)