A New Year Arrives (1976).

After New Year's Day, Lin Zhichao came to the Harbour Centre and was about to walk into the building when he met a reporter.

"Mr. Lin, are you not optimistic about Hong Kong real estate when you invest in Manhattan office buildings in the United States?" The reporter rushed to his side and spoke loudly.

Lin Zhichao's bodyguard saw that it was a reporter and had already blocked it, but he would not make rude moves, thereby affecting the reputation of the boss.

If this question is not answered, it can be overspread.

So, Lin Zhichao signaled to the bodyguard and accepted a simple interview by himself.

"The investment in the Manhattan office building is the main investment of the Global Group, and the Cheung Kong Group only participates in a very small part of the equity. As for the Global Group's investment in Manhattan office buildings, the decision was made based on sufficient cash flow and shipping has been declining year by year. Personally, I am very optimistic about Hong Kong's real estate industry, and the recovery at the end of last year is just a good proof of this. Thank you! ”

Then he left.

The reporter wanted to ask, but he was stopped, but he was already very satisfied with being able to interview Lin Zhichao today, and he couldn't run away with a salary increase later.

When he arrived at the office, Lin Zhichao sat in his position, reading the newspaper and thinking at the same time.

His every move now has attracted much attention. It's not the 80s yet, and by that time, every overseas investment he has made will attract attention and speculation.

Of course, Lin Zhichao will still stick to his decision and will not be affected by public opinion.

Hong Kong wants to invest, overseas also needs to invest, and the mainland will also invest.

This investment in Manhattan office buildings is huge, and it does have a great impact, so it has caused some public opinion. Of course, this public opinion will soon stop.

In the morning high-level meeting.

"In the new year, Cheung Kong Group will continue to invest heavily in its business in Hong Kong and not be affected by this investment in Manhattan office buildings. ”

Huang Changhong said: "With the company's financial situation, it is extremely healthy, the debt ratio is extremely low, and the outside is just the media to win sales. ”

Everyone expressed their opinions, and everyone didn't care that Cheung Kong Group took 230 million Hong Kong dollars to invest in Manhattan office buildings (accounting for 2% of the shares), because the money was all loans.

Zhou Fuzhao said: "Last year, Cheung Kong Group's profit reached a new high of 180 million Hong Kong dollars, and we really don't need to be distracted by these little things. ”

The increase in profit of 30 million is the rental and sales profit from multiple acquisitions.

After stabilizing the morale of the army.

Lin Zhichao began: "In the new year, we will continue to look for target acquisitions, make full use of the stock market, and increase the real estate heritage of the enterprise. ”

Everyone began to express their opinions, and they were quite confident. After all, Cheung Kong Group still has a cash flow of 170 million Hong Kong dollars and a debt of only 280 million Hong Kong dollars, but its asset value is as high as more than 3 billion Hong Kong dollars, and the real estate has recovered.

Hu Zhaoxu said: "This year, the Hong Kong government's land auction plan has increased significantly, and this is our opportunity! ”

Lin Zhichao said: "Well, the geographical location of Tsim Sha Tsui East is good, and the development potential is huge, if it is auctioned by the Hong Kong government, we can pay attention to it." ”

Tsim Sha Tsui East, where 17.4 hectares of land was reclaimed in the sixties and seventies, and there were about 20 commercial projects in this area in later generations.

Lin Zhichao intends to invest in two plots of land to build a shopping mall and a five-star hotel, of course, in the name of Cheung Kong Group. From the moment Cheung Kong Group went public, Lin Zhichao will use listed companies to do almost all of his real estate behavior in the future.

After the high-level meeting, Lin Zhichao called three more carriages and Lin Ruihuan to his office conference table.

"There are two big acquisitions this year, the first is the American-funded company Yonggao, and the second is Qingzhou Yingni!"

The four of them were immediately surprised!

Zhou Fuzhao immediately said: "Qingzhou Yingni is a public listed company, is the boss planning to secretly buy stocks, and then control it logically? ”

Lin Zhichao said: "Not bad! As for Yonggao Company, we went to talk to their two founders, and we bought their shares at a premium. The two projects are carried out at the same time, Ruihuan you are responsible for secretly buying the shares of Qingzhou British Mud, it doesn't matter if the time is long, the important price is lower. Manager Zhou, you and Mr. Li contacted the two shareholders of Yonggao Company to negotiate. ”

"Okay, Chairman!"

After the layout, everyone immediately plunged into the work of the new year.

Just a week after New Year's Day, international gold plummeted, from $140 per ounce to below $130 per ounce. Seeing this, Lin Zhichao immediately arranged for Victoria Harbour investment and began to invest in physical gold again.

Last time, he invested 160 tons of gold, made a profit of more than 3 billion Hong Kong dollars, and returned 5.2 billion Hong Kong dollars. Now he is ready to take out another 5.2 billion Hong Kong dollars, and at most another two or three billion Hong Kong dollars, he can invest 200 tons of physical gold.

As time went by, the initial investment of 1.8 billion Hong Kong dollars in gold has changed from 160 tons to 200 tons. This is equivalent to making a wave of T's.

The investment in gold is 100 tons in Switzerland, 50 tons in London, and 50 tons in Hong Kong. It is already relatively easy to invest 50 tonnes of gold in Hong Kong, because Hong Kong has allowed free trade in gold, and the world's five largest gold dealers have come to Hong Kong to set up business.

On this day, Lin Zhichao made an appointment with Zheng Yutong to have dinner at the Shangri-La Hotel, mainly asking some questions about investing in gold in Hong Kong.

"Lin Sheng, the hotel industry seems to have picked up a lot this year?" During the banquet, Zheng Yutong modestly asked for advice first.

There are two five-star hotels in the New World Center, so Zheng Yutong had the opportunity to ask Lin Zhichao for advice at the beginning of this project. After all, Lin Zhichao was the first Chinese in Hong Kong to have a five-star hotel (Miramar Hotel), even two or three years before the Mandarin Hotel in Jardine Matheson.

Lin Zhichao said: "This is natural, although the oil crisis has a great impact on the world, but Hong Kong is definitely the fastest recovery area." As a result, the occupancy rate of the hotel has already begun to increase, and it is not surprising that the first phase of the New World Center will open and the hotel will surely win a full house. ”

Zheng Yutong suddenly said happily: "I am not as strong as you, this project is very important to the development of New World!" ”

Lin Zhichao said with a smile: "New World Center, the geographical location is close to the sea, and it is in the Tsim Sha Tsui tourist area, Zheng Sheng won this project only spent more than 100 million yuan in land costs, and I want to say that in another five years, the land fee alone will be worth one billion." ”

Talking about Zheng Yutong's most proud project, he was also full of energy, and discussed some of the layout and planning of the New World Center with Lin Zhichao during the period, which can be regarded as learning from each other.

Lin Zhichao used to own a lot of shares of New World Development, but he cashed out at the peak in 1973 and made tens of millions. And the shares that I own today, which were repurchased at the end of 1974, account for only 3%.

"Zheng Sheng, how many tons of gold did Hong Kong import last year?"

"Well, I haven't counted it yet, but it should be around 100 tons."

Lin Zhichao couldn't help but sigh in his heart, he was completely a big fish in the gold spot market, and he bought 200 tons of gold at one time.

"I want to invest 50 tons of gold spot, what is Zheng Sheng's good way?"

Zheng Yutong looked at Lin Zhichao in surprise, and then understood that the so-called 'four major real estate families' were completely unreasonable, and this one's strength was enough to crush everyone. This investment in Manhattan office buildings is the best proof of this.

"There are many ways, we happen to know the five major gold dealers, and we can match. After Lin Sheng's purchase, it can be stored in the safe of HSBC. ”

Lin Zhichao nodded, what he wanted was to buy directly from the five major gold merchants.

Then, Zheng Yutong asked curiously: "Lin Sheng thinks gold will rise?" ”

He still admired Lin Zhichao's vision very much, and he was in the gold business, so he couldn't help asking.

Lin Zhichao said: "I think it will still rise in the next few years, at least it should be more reliable than the deposit bank." ”

Zheng Yutong said: "Lin Sheng was a master of gold speculation back then, and now it seems that Lin Sheng's prediction will not be wrong." ”

Back then, in the gold and silver trading field, Lin Zhichao was indeed a master of gold speculation, and he retreated with his whole body.

And Lin Zhichao naturally doesn't care that Zheng Yutong also carries out gold, which is a good thing, everyone can earn money together.

Hong Kong Yonggao Company was invested in Asia by two American businessmen, Joe John and Alvin, in the late fifties; The company has invested in Hilton Hotels and Hyatt Regency Hotels in Hong Kong and Bali.

Among them, the Hilton Hong Kong Central opened in 1963 and became the first hotel in the world to introduce a minibar in all hotel rooms in the seventies; The Hyatt Regency in Bali only opened in 1973.

Yonggao went public in 1969 and raised HK$77 million, which was used to invest in the Hyatt Regency Hotel in Bali. It is this investment that has led to the current impact on the profits of the entire company.

Last year (1975), Yonggao made a profit of about 18 million Hong Kong dollars, almost more than 90% of which was created by the Hong Kong Hilton Hotel. This undoubtedly proves that Hong Kong's hotels are the best return regions in the world.

On the occasion of the arrival of 1976, Cheung Kong Group sent Zhou Fuzhao and Li Yeguang to contact the two founders of Yonggao Company.

Joe John and Alvin hold a total of 10.48 million shares, accounting for 56% of Yonggao, while the current share price of Yonggao is only 8.6 Hong Kong dollars per share.

in the conference room.

Johan said: "Could it be that Mr. Lin feels that our Hilton Hotel in Central poses a huge threat to his Shangri-La Hotel, so he is ready to buy the entire Yonggao company. After all, I really can't figure out what the investment point is for Mr. Lim to need two five-star hotels in Central? ”

He has a point, after all, if the two five-star hotels are in the hands of the Lin family, who is the focus?

And he raised this question, which naturally helped the purchase price.

"As far as I know, Shangri-La Hotels has a higher occupancy rate, and there is no problem with both hotels operating at the same time in Central," Chow said. However, we have found through our research that investing in office buildings in Hong Kong has a better rate of return than investing in hotels. So, we're actually eyeing your company's Hilton site in Central. ”

Joe John and Alvin were surprised, they didn't expect Cheung Kong Group to be investing in this way.

"You want to demolish the Hilton?"

Zhou Fuzhao said: "There is no such plan for the time being, we are based in Hong Kong for long-term investment, and we see the potential for appreciation of this land. ”

This is true or false, the boss really wants to demolish the headquarters building of Cheung Kong Group, but the time seems to be after the 80s, and he is not in a hurry.

Therefore, for this acquisition, the instructions given by the boss are that a reasonable premium and a goodwill acquisition will come naturally.

All the acquisitions of Cheung Kong Group are goodwill acquisitions, such as the previous Wasion Development, and the key is to take advantage of the poor market conditions to carry out goodwill acquisitions.

Joe John and Alvin glanced at each other, they had communicated before, that is, if the price is right, they will put it on the market. This is because: first, the business of the two of them suffered a lot of losses in the oil crisis, but it was Hong Kong that had the best investment; Second, they are also worried that the business in Hong Kong will eventually lose money, and they will suffer more losses at that time.

At the same time, the Hang Seng Index climbed from 370 points at the start of the year to more than 430 points in late January due to investors' ambitions due to interest rate cuts in the United Kingdom and the United States. The stock of Meigao Company has also returned a lot, reaching 8.6 Hong Kong dollars per share,

"All we need is cash, so what are you going to offer?" Johan asked tentatively.

At this time, Li Yeguang said: "We are a very sincere and goodwill acquisition, and we can consider a 30% premium, calculated according to yesterday's closing price of 8.61 Hong Kong dollars per share." ”

He was hired by Cheung Kong Group to participate in such negotiations, and the law firm would have a consulting fee if the deal was completed or not.

Of course, more importantly - Li Yeguang is now one of Lin Zhichao's advisers, and the relationship between the two is extraordinary.

Johan and Alvin were both happy in their hearts, the price was good, and it was a preliminary offer, and there was room for negotiation.

"I don't think this price is enough to buy our shares, because the Hong Kong stock market is warming up at the moment, and our Yonggao shares will soon rise even higher, so I hope you will ask Mr. Lin to give us a higher price. After all, the two of us have invested a lot of money and years of hard work in Yonggao Company. ”

The two invested 20 million Hong Kong dollars that year, and now the stocks in their hands can be sold for more than 100 million, plus the dividends during the period, the rate of return is actually more than 15%.

Investing in Hong Kong has the highest rate of return in the world, this is the view of Johan and Alwin.

Zhou Fuzhao reminded: "Two, the location of the Hilton Hotel is not good, and there is now competition from Shangri-La Hotel, according to this situation, the premium of 30% is definitely our sincerity."

Since its opening, Shangri-La Hotel has occupied the top position in Central, Hong Kong, and has had a great influence on the Mandarin Hotel, Hilton Hotel, and Furama Hotel. After all, it is more luxurious, with the largest number of rooms, and even the Queen's visit to Hong Kong is in the Shangri-La Hotel.

After that, Joe John insisted that the stock market was booming and the price should be higher.

In this way, the first temptation of both sides was declared.

Back to Cheung Kong Group.

After Lin Zhichao heard Zhou Fuzhao's report, he said with a smile: "It's okay, this stock has skyrocketed for one or two months at the beginning of the year, and then it has to go sideways." Just talk to them slowly, and you can finally come to an agreement. As for the premium, we can't exceed HK$12 per share, so you can continue to be responsible. ”

Zhou Fuzhao said confidently: "Okay, boss." In fact, looking at the appearance of the two shareholders, it is very obvious that they want to sell. ”

The first offer is very sincere.

Lin Zhichao's acquisition of the property is 'taking advantage of the dip', but not 'taking advantage of the danger', if the property owner wants to put the property on the market at a low point, he will give a premium acquisition (stock only). This is because the market capitalization of many listed companies in the current market is generally lower than the net asset value.

"By the way, Huai'an has performed well in recent years, and I plan to promote him to Changhong's deputy, specializing in real estate development, and enter the board of directors in a year or two. When the time comes, your father and son will be double directors. ”

Zhou Fuzhao hurriedly said: "Is it too fast, he is just thirty years old." ”

Lin Zhichao smiled: "You know me, what do you think of my consideration for this kind of decision?" In the company, you are colleagues, not father and son! ”

Zhou Fuzhao said: "The boss doesn't care about his three relatives and six relatives for those who do nothing, and he doesn't want any of them. When Huai'an was studying, he had to be cultivated by his boss, but he was also competitive, went to a prestigious school, and studied law. When you return to Hong Kong, you have to be the boss of you, first be the company's spokesperson, and then do real estate development projects, and the wind review is not bad. ”

As a father, he still makes a fair evaluation.

Lin Zhichao nodded and said, "Well, it's good that you know." Huai'an is not weak in your skills, and you can be responsible for real estate development and land auctions in the future. ”

Zhou Huai'an, the eldest son of Zhou Fuzhao, is Chinese New Year's Eve years old today, and is a talent that Lin Zhichao has been cultivating. In fact, he has always been very concerned about the children of these old ministers, and if he finds a seedling of good reading, he will begin to pay attention to it, send them to study abroad, and then return to Hong Kong to join the Lin company.

It seems that Lin Zhichao is 'nostalgic for the old', but in his company, it is based on talent. Zhou Huai'an can stand out from so many second generations because his ability is deeply recognized by Lin Zhichao.

Zhou Fuzhao was shocked in his heart, but he knew that Cheung Kong Group had three core executives:

Responsible for real estate development and land auctions, such as Huang Changhong, but due to the comprehensive business of Cheung Kong Group, Huang Changhong has a lot of work, but his core work is real estate development and participating in land auctions;

Responsible for financial planning, it is himself;

Responsible for real estate sales, external public relations and other work, it is Hu Zhaoxu.

Now his son is listed as a real estate development and land auction, which is obviously recognized by the boss, and he is still very happy in his heart. Of course, it is not that his son can take over Huang Changhong's position, because he knows that the boss's eldest son, Lin Ruihuan, is and may take over the position of general manager (currently Lin Zhichao is also the general manager).

In this way, in the future, the chairman of the board of directors will be the boss, the spiritual pillar and commander of everyone; Lin Ruihuan is the General Manager and Vice Chairman of the Board, responsible for the management of the company's affairs. The following are the three cores, namely real estate development, financial planning, and sales public relations.

As for the other senior executives, most of them are general managers of subsidiaries, such as Liang Guangchang of Changjiang Commercial Real Estate, Li Paul of Poly Construction, and Lin Shaodong of RT-Mart Retail

"He has today, he is the boss, you have been cultivating and encouraging him since he was a student."

"Haha, I don't dare to take credit for this. Well, that's it. ”

Lin Zhichao is in a good mood, and there are already two people in the second generation of management of Cheung Kong Group - Lin Ruihuan and Zhou Huai'an.

Of course, Cheung Kong Group has been established for less than 29 years, and its senior executives are only 58 years old (Huang Changhong), and they can still do it for about three or five years, so everything is stable.

His eldest son, Lin Ruihuan, is 27 years old this year, and it will be three or five years after he took over as general manager.

Of course, as long as Lin Zhichao is still the chairman of the board of directors for one day, the real power is actually in his hands, and the general manager is just an executor. However, the big things can be decided by him, and the general manager executes the big things, and decides the small things.

(End of chapter)