On March 16, the Wharf General Meeting of Shareholders was held at the Miramar Hotel on Nathan Road, Tsim Sha Tsui, Kowloon.

The reason why I chose this place is because this hotel is located on the Kowloon Peninsula, which has a long history, and the land was cheap when it was newly built, so the area is large enough, and there is a large conference hall that can accommodate a large number of people, which is just suitable for a large number of small shareholders in Wharf.

Wharf staff are carefully checking the identity of shareholders and their respective voting rights at the door of the conference hall, today's vote will determine the future ownership of Wharf, if something goes wrong, they will definitely be the first to be unlucky.

In addition to the shareholders, some important company employees and media reporters can also enter, and at this moment, almost all the Hong Kong media rushed over. Shareholders' meetings are not uncommon in Hong Kong, and even if Jardine Matheson is held, it is unlikely that it will attract so many media to come, and the reason for this is naturally today's management struggle.

The Hong Kong government, the Jockey Club, Jardine Matheson, and HSBC are known as the four major forces that control Hong Kong, although Jardine Matheson seems to be a little bad at the moment, but it is still one of the most influential consortiums in Hong Kong.

After more than an hour of stock verification, hundreds of shareholders entered the venue, not to say that these are the only eligible Wharf shareholders, and there are many people who may not come at all, either not caring about this kind of thing, or just paying attention to it in other places.

This is also where the management of Western companies is strong, even if it is a shareholders' meeting, it is difficult to recruit all shareholders, unless a big mistake is made, otherwise, it is difficult to gather enough shareholders to threaten their management rights, even the original history of Qi Dezun, Hutchison almost went bankrupt, but if it is not for HSBC to gather shareholders, it is impossible to drive it out.

The General Meeting of Shareholders officially begins:

The first to come forward is the current Taipan of Wharf, a British ghost named Mooney, who is known as the third person in Jardine Matheson, but basically does not appear in front of the media, and even Chen Zhiwen has only heard of him, but has not seen him.

Mooney read the information that had been prepared long ago in front of the microphone, Wharf last year, with a total profit of 16 million Hong Kong dollars, and in January and February this year, two projects were completed successively, with a total profit of 3.1 million Hong Kong dollars attributable to the parent company.

When Mooney released all the data, the shareholders below immediately began to chatter with each other, and many of the people who came here were also acquaintances, and it was natural for them to communicate with each other.

"Guys, if you may, can you let me say a few words?" Chen Zhiwen was also very polite to let the people below for two minutes, and when the voice below was a little quieter, he would speak again.

The people below naturally knew who was talking just now, and after hearing Chen Zhiwen's request, they immediately quieted down.

Chen Zhiwen pointed at the microphone in front of him and said: "Mr. Mooney, Wharf is a company, which is enough to be one of the top ten large enterprises in Hong Kong, why does the annual profit is only 16 million Hong Kong dollars?" As far as I know, many smaller Chinese-funded companies can now have a net profit of HK$70 or 80 million a year. ”

"That's because the Harbour City project has dragged down the company's capital chain, but according to the construction plan, when the Harbour City project is about to be completed in 1980, then it can get a lot of rent for the company." Mooney explained that everyone knows this question, but he also knows that Chen Zhiwen is definitely not bad at asking this question.

"A harbor city, almost ten years under construction, right?" Chen Zhiwen smiled lightly and said, "Why is the efficiency so low? Hongkong Land's Recreation Building, which is 52 storeys high, took 16 months, why are you all under the same Jardine Group, so much difference in efficiency? ”

"It's not because it's inefficient, it's because of funding." Mooney said with some reluctance: "Although Harbour City is not as tall as the Recreation Building, it is much more difficult to build and requires more money. ”

"No matter how much money is needed, it is not an excuse that ten years have not been completed, ten years, the Hong Kong market does not know how much has changed, and the entire Wharf has missed the biggest development time, before December last year, the market value of the entire Wharf is barely one billion Hong Kong dollars, not to mention those British-funded companies, that is, those Chinese-funded, are almost to this level." Chen Zhiwen said loudly in a cold voice: "In ten years, the stock price of Wharf has hardly changed, I think everyone here can be regarded as a very failed investment if you hold Wharf shares, right?" ”

"Yes, it's a big loss, hurry up, right?"

"Those who can live there, the ghosts should hurry back to England."

“.”

In the audience below, many shareholders took the opportunity to shout, and among the hundreds of people, there will always be a small number of people who are persuaded by Zhou Jiayang to become the leader of the opposition to British capital, and under their leadership, the people around them also began to communicate loudly.

"Chen Sheng, what you said is not right, the investment in Harbour City is almost 2 billion Hong Kong dollars, so much money, even if it is land, it will be the same ending, but now it is about to be completed, Wharf will add a super-large commercial rental property at one time, even if it relies on rent collection in the future, it can be one or two hundred million a year, plus the rise in property prices, this is the real high investment and high return, Chen Sheng's age may be too young, and he is not rich in experience in this area." Niu Bijian said with a smile.

"But I still missed the golden decade of development, I Galaxy Real Estate, from 74 years to invest in property, the initial capital is about 100 million Hong Kong dollars, with investment in various types of industrial real estate and some subsequent property development, now the total asset scale, and almost close to one billion Hong Kong dollars, the cash in hand has 300 million, almost ten times more, right? If Wharf is like this, then the current scale may have long surpassed Hongkong Land, right? Chen Zhiwen said with a light smile that the former investment projects of Galaxy Real Estate are not secrets, and a reporter can actually find them with a little effort.

"If the scale is different, how can the calculation method be the same?" Niu Bijian scoffed.

"It's different, but when Wharf was in 74, it should have 100 million Hong Kong dollars in its hands, right? Why didn't it become a billion Hong Kong dollars? Chen Zhiwen asked rhetorically.

"Chen Sheng has made so much money, in fact, it is just relying on the rise in land prices, my Wharf itself has a large number of high-quality land, and over the years, the valuation has also increased several times, but it is just not cashed out?" Niu Bijian said.

"It is because of your strategy of not developing that Wharf is in today's predicament." After Chen Zhiwen got the words he wanted, he immediately took the microphone in his hand, stood up, and said: "Ladies and gentlemen, Hong Kong's shopping malls today have undergone earth-shaking changes from ten years ago or even five years ago.

Bao Yugang and other predecessors not to mention, that is, Li Jiacheng, Hu Yingxiang, Zheng Yutong and others, in less than ten years, using their own vision, courage, opportunities to successfully develop, among which Li Jiacheng's Cheung Kong is a leader, although the attempt to acquire Wharf failed, but it is also worthy of being recorded in the history of our Hong Kong.

The rise of Chinese capital depends on real estate, but it is very strange that the Chinese real estate company did not have any land in the early days, Li Jiacheng was engaged in the plastic industry before the establishment of the real estate company, Zheng Yutong was doing gold before, and Hu Yingxiang also returned from the United States to start a business, they did not have land, but through more than ten years of hard work, they became a real estate giant in Hong Kong, and the market value of the company in hand was close to one billion.

However, companies like Wharf have a long history and countless high-quality land in their hands, which makes countless Chinese-funded real estate companies jealous, but these companies, after decades of development, will only stand still, and have no ability to grow at all.

This is also the reason why the stock in your hand has not risen for ten years, and some people blame the construction of Harbour City for Wharf's mistakes, but they don't know that the scale of the Blue Chimney Pier project bought by Mr. Cheng Yutong in 1970 is no less than that of Harbour City, but this does not affect other businesses.

Therefore, the root cause of all this is just that there is an incompetent management behind Wharf.

So here today, as the largest shareholder of Wharf, I convened this shareholders' meeting to remove this incompetent board of directors, and then elect a better person, one who can make Wharf and the same Chinese-funded real estate company, increase tenfold in a few years, and each share of shares in everyone's hands is worth more than 100 Hong Kong dollars, isn't it better? ”

"Okay." Below the conference hall, several names sounded, followed by the sound of applause, and after a while, many people below applauded.

Niu Bijian's face was blue with anger, and Chen Zhiwen's words almost grabbed him by the collar and said that he was a waste, but there was no way to refute it, because the example given by others was also correct.

However, this is not just Wharf crossing, how many British-funded real estate companies in Hong Kong do not cross? It may be a little better than Swire Group, but he can only say that he develops his assets in the most conservative way, and Wharf is actually the same, but it has been betting on the future, and the price is the growth of the present.

Under the conference hall, in addition to ordinary shareholders, there are also many bigwig-level people, including Shen Bi, Li Jiacheng, Zheng Yutong, etc., after all, it is Chen Zhiwen who snapped up Wharf, this kind of major event is rare in Hong Kong in ten years, and nothing else is as important as this.

"If you always take me as an example, I will become a thorn in the side of the British capital." Zheng Yutong smiled helplessly.

"Why care about them? If Chen Zhiwen succeeds this time, we Chinese will also stand up, and we will be able to work openly against British capital in the future, and Chen Zhiwen is very right, there are few British capital in Hong Kong that will develop real estate, and in the end we have to beg us. A person next to him said with a smile that if Chen Zhiwen was in front of him, he would definitely recognize him as Lee Shau-kee, the chairman of Henderson Industrial.

"You're so confident." Zheng Yutong said with a smile.

"It's not that I have, it's Chen Zhiwen, it's like this today, I don't have confidence that he will play like this?" Lee Shau Kee said with a smile.

"Also, there are almost 40% of the shares, and as long as a small percentage of the latter group agrees, this thing is basically done." Zheng Yutong shook his head and said: "When Chen Zhiwen acquired Hutchison, I was very envious, so much land, but now I have acquired Wharf, I am numb." ”

"Yes, although the land in Wharf is not as good as Hutchison in terms of quantity, it is much higher in quality, and there are several plots of land on Hong Kong Island." Lee Shau Kee said: "Maybe we will have a chance. ”

"What do you mean? Want to work with Chan Chi Man to develop these plots after he acquires Wharf? Zheng Yutong asked.

"Don't you want to?" Lee Shau Kee asked.

"I want to think about it, but it's a little difficult, look at that one, but what about calm?" Zheng Yutong pointed in the direction, and a middle-aged man with black-rimmed glasses behind him was Li Jiacheng.

Zheng Yutong said: "About 10% of Chen Zhiwen's hands were acquired from Li Jiacheng, you said that if Chen Zhiwen successfully acquired, some land in Wharf, who do you think he would choose to cooperate with?" ”

"Yes, Li Jiacheng followed behind and ate a lot." Lee Shau Kee shook his head and said.

"That's also a bit of ability, otherwise, you were the first to attack Wharf, and now these benefits are yours." Zheng Yutong said with a smile.

Li Shaoji shook his head and said: "Forget it, I don't have the courage, Chen Zhiwen does it to the British capital, I think it's normal, but I didn't expect Li Jiacheng to dare, although he failed, but he was also the first among our people, and now he sold the stock in his hand to Chen Zhiwen, it is really a wonderful move, and some benefits in the future are estimated to be no less." ”

"That's what I worked hard for." Zheng Yutong smiled, looked at the front desk again, and said, "It's coming, it's about to vote." ”

"It is estimated that Wharf is going to change the sky." Lee Shau Kee said with a light smile.

This will be a kung fu, Jardine's Niu Bijian, has been telling about the development plan of Jardine for Wharf, as well as the development achievements of Wharf, but think about it carefully, although there are indeed some achievements, but compared with the Chinese real estate companies in the past ten years, the benefits are too poor.

This comparison makes many people feel that British capital is indeed inferior to Chinese capital.

After Niu Bijian finished speaking, there was still a boo below, obviously many people were not satisfied with Niu Bijian's statement.

"Let's vote, it's useless to say this." Chen Zhiwen said lightly that the purpose of convening a general meeting of shareholders is to solve this problem by voting.

"Okay." Niu Bijian nodded and said, although he was very worried about the result of this vote, because the other party controlled 40% of the shares, and the probability of his side losing was very low, but he couldn't stop it.

This kind of shareholders' meeting, involving fair voting, the stock exchange will send a special team to be responsible, because the voting rights of each person on the scene are not the same, after receiving the vote, a large number of calculations are required, which can not be wrong, generally by the two teams separately accounting, if the follow-up data is not the same, it needs to be re-checked, the same even if passed.

"How many of them have you contacted?" In the position of the first batch below, Shen Bi asked Disdao.

"I can only say that a part of the Wharf stocks, many of them don't know where to go, that is, this time Chen Zhiwen came forward to buy, so that many small shareholders came out." Dees said helplessly.

"That means that it is likely that many people will still support Chen Zhiwen?" Shen Bi said.

"It's possible." Diess nodded and said: "There are rumors in the market that if Chen Zhiwen successfully acquires Wharf this time, it is very likely that Wharf will be privatized. ”

"Ten percent is the fake news released by Chen Zhiwen, before the model of Hutchison first delisting and then privatization has been identified as a violation by the Hong Kong Takeovers Committee, since then, if you want to privatize, you have to really carry out a full acquisition, Wharf's previous highest share price was 61 Hong Kong dollars, once the acquisition invitation is triggered, Chen Zhiwen needs 3 billion Hong Kong dollars to privatize Wharf, how is this possible." Shen Bi shook his head and said.

"It's unlikely, but this news is now spreading everywhere, and many people are also increasing their purchase of Wharf shares, and the people who are here today are estimated to be brainwashed by many people, thinking that Chen Zhiwen will definitely privatize Wharf again like the acquisition of Hutchison back then." Dees shook his head and said, as long as you calculate the accounts, you will understand that no one in Hong Kong has the financial resources to privatize Wharf at this time, even if you really want to, you need to wait for half a year to ensure that the stock price is not high in the first half a year before privatization.

"These people who speculate in stocks are willing to gamble, and looking at this, they have been used by Chen Zhiwen again." Shen Bi shook his head and said.

(End of chapter)