May.

Lin Zhichao will discuss with Zheng Yutong, Rong Zhi and others to establish GreatStgle as the flagship of the acquisition of Hengchang. The company consists of nine shareholders: CITIC King Fung (36%), Lin Zhichao Foundation (19%), Cheng Yu-Tung (18%), Peregrine (8%), Kwok He-nian Kerry Trading (7%), Wing Chi (6%), Ho Hau Cheung Brothers (4%), Wash Weijian (1%), and Fung King-hei's widow Feng Liang Baochen (1%).

this day.

GreatStgle's shareholders gathered in a private room at the Shangri-La Hotel to discuss the acquisition strategy, with Peregrine Finance as its financial advisor.

Although Lin Zhichao joined GreatStgle, he actually stood for Rongzhi, so this team still uses Zheng Yutong as the leading role. At the scene, everyone sat on the sofa and talked about it.

Zheng Yutong said energetically: "The reason why the company I joined earlier failed was that the market reported a 'stock split' and a low bid, which was not attractive to other shareholders. So this time, as long as we don't repeat the mistakes of the past, we're much more successful. ”

He is very keen on this acquisition, believing that even if CITIC Jingfeng takes the lion's lead, he can also invest in dividends for a long time; As everyone knows, people from the mainland don't talk about 'martial arts', and Rong Zhi may have already thought about it in his heart.

As for Lin Zhichao, even if he knows Rong Zhi's true thoughts, he will not have an opinion, as long as this acquisition can make him money, then it doesn't matter if he finally gives up his shares, he has the right to make a one-time investment.

Rong Zhi said: "Hengchang is valued at 390 Hong Kong dollars per share, which is too high! ”

The implication is that you don't want to pay too high a price.

Zheng Yutong immediately said: "Of course! The price we offer only needs to be attractive to other shareholders, and once the minority shareholders break through, then the major shareholders will also follow the market. ”

He Shanheng, Liang Qiuyao, and He Tian are major shareholders, but they are by no means monolithic. After all, the three have no intention of continuing to run Hengchang, so it is not a betrayal, as long as one of them sells the stock, then the remaining two will soon let go. And if you want one of them to sell, you have to make those small shareholders excited, and the price has to be well controlled.

Everyone nodded, and let Zheng Yutong defect to join, it was Lin Zhichao's opinion, after all, Zheng Yutong and Hengchang veteran had contact.

"What is the right price?" Everyone asked Peregrine Liang Botao.

Peregrine was also supported by Lin Zhichao, and Leung Botao and Du Huilian are both members of his advisory group, in essence, this is the consortium effect in Hong Kong.

Liang Botao said: "We studied it and felt that 330 Hong Kong dollars per share is more reasonable, and the capital involved is 6.94 billion Hong Kong dollars. ”

Everyone thought about it.

Hengchang's annual profit is 1.022 billion Hong Kong dollars, which is almost a seven-year return on investment. It's a pity that a large amount of cash flow in Hengchang's account has been divided twice by He Shanheng and others, otherwise it would be more cost-effective.

But then again, the business done by Hengchang Enterprise is 'no prospect and more space', so this price is indeed the greatest sincerity.

"I agree"

"I agree"

Afterwards.

The core members of GreatStgle are the veterans of Hengchang.

At the same time, Lin Xiufeng and Xu Zhantang formed a separate consortium to bid, but the camp was not as strong as GreatStgle. GreatStgle's bid was HK$330 per share, involving HK$6.94 billion. This is 63 yuan less than Hengchang's revaluation of assets of 393 Hong Kong dollars per share. However, the acquisition consortium vowed to ensure that Hengchang would not be dismantled or dismissed, and that Hengchang's mechanism would continue as always, and that Hengchang, which was pioneered by the older generation, would be carried forward under the operation of the new leadership organization.

Although He Shanheng and Liang Qiuyao thought that the bid was still low, they were a little moved.

The important thing is that He Tian, the veteran and major shareholder of Hengchang, saved the life of GreatStgle at a critical moment and promised to give up his shares.

In addition, the minority shareholders of Hengchang believe that GreatStgle's bid is acceptable, and some people have sold their shares for cash.

Things have developed to this extent, and the acquisition of GreatStgle has been tense, and negotiations with He Shanheng and Liang Qiuyao have been initiated.

Wharf Group.

Lin Zhichao sat in his office, looking at an article published in Asia Daily - "How Much Do Real Estate Developers Know".

The content of the article is probably as follows: to be a cow and a horse for tiles, some people can only own their own property after a lifetime of energy, and the property price has accounted for seventy percent of the family income. However, there are a number of wealthy people in Hong Kong, all of whom are engaged in real estate business, and more than half of the market value of listed companies are real estate construction companies, which shows the earning power of real estate.

The article then takes Cheung Kong Group, a large profit in the property market, and Laguna City, which develops Cha Kwo Ling, as an example, to analyze and estimate how 'Lin Chaoren' will obtain an astonishing huge profit of 11.1 billion Hong Kong dollars in this real estate project.

At the same time, the article also uses the metaphor of 'one will become ten thousand bones' to adjust the brilliant performance of real estate developers, which is piled up by the hard-earned money of home buyers and renters.

Lin Zhichao slowly put down the newspaper and sighed: "I still live as the kind of person I hate the most!" ”

In the past, he was not the government that hated real estate developers and selling land at high prices, and he was also a victim of high housing prices, but now he has become a 'perpetrator'.

However, Lin Zhichao quickly shook his head, high housing prices are by no means the main responsibility of real estate developers (the angle of the station is different). At present, the contract signed between the mainland and the Hong Kong government is that no more than 50 acres (1.82 million square feet) of land can be sold each year, resulting in a situation where there is less land and more people (many places in the New Territories are not developed); In addition, most of the government's fiscal revenue is based on real estate-related taxes such as land sales, real estate taxes, and land replacement fees.

At least, real estate developers are not the main culprits.

Lin Zhichao quickly strengthened his belief that he must stand in the same camp as Hong Kong real estate developers in real estate matters, there is no doubt about it.

"Dad"

Lin Ruihai came to the office and looked at the newspaper in his father's hand curiously, and he found that his father was in a trance.

Lin Zhichao put down the newspaper and said: "The greater the increase in real estate, the greater everyone's complaints about us, and this contradiction will accumulate deeper and deeper." ”

Lin Ruihai picked up the newspaper and looked at it, and then said: "How much does this have to do with us, the rise and fall of real estate is an act that follows the market, and we can't control the price trend." What's more, Hong Kong has a lot of people and few places, and Hong Kong people like gambling-style investment, and property speculation is a spontaneous behavior in the market."

Lin Zhichao smiled: "No matter how reasonable you say, can you explain it to everyone?" So, keep a low profile and avoid unnecessary trouble. ”

Lin Ruihai nodded and said; "Hmm"

Lin Zhichao knows that among his five sons of pure Chinese blood, Lin Ruihuan and Lin Ruihai are the most low-key and steady, and they rarely accept interviews, and it is difficult for the media to get anything out of their mouths, let alone humor. Lin Ruijiang and Lin Ruikai, the situation is slightly better, and they will be publicized in the media; And Lin Ruicheng's son is completely loved by reporters, and he is often met by reporters.

Next, Lin Ruihai reported: "Dad, our investment in Southeast Asia has returned remarkably, and the value of the entire property in Thailand and Malaysia has increased by about three times during the period of 1988~1991. Therefore, our net assets in real estate investment in Southeast Asia, excluding Singapore, have reached 10 billion Hong Kong dollars. ”

At the same time, Wharf Group only injected 2 billion yuan into the Southeast Asian market (excluding Singapore), which is now equivalent to a net profit of 8 billion. Of course, this is an asset on the books.

Lin Zhichao nodded with satisfaction, and the debt of the Wharf Group also fell to 4 billion Hong Kong dollars, and it also had a cash flow of more than one billion. In fact, it already has a huge investment strength, even if it is tens of billions of funds, it is not in China.

"You have to go to the mainland more now, especially the situation in the magic capital, and when the time is ripe, we will change the direction and invest in the mainland."

"Well, the development potential of the magic capital is good, and everyone's open-mindedness and other aspects can be compared with Guangdong Province."

Next year is a crucial year for investing in the mainland, and many future projects may have to be negotiated next year.

The Wharf Group will invest in many commercial projects in the mainland and gradually withdraw funds from Southeast Asia from 1994 to the mainland.

A week later, Cheung Kong Infrastructure, a subsidiary of Cheung Kong Group, announced that it would hand over the management of the Hung Hom Tunnel to the Hong Kong government, officially ending the 40-year contract (which expired in 2008).

This plan has always been the idea of Lin Zhichao, after all, the Hung Hom Tunnel has made a lot of money, with an average annual rate of return of 8%. With a 23-year management period, it has actually made a lot of money.

As for the fact that Cheung Kong is a listed company, with Lin Zhichao's influence, it is natural to make this kind of decision, and there will be no obstruction or criticism.

The non-recurring profits of Cheung Kong Group are not all unexpected surprises for shareholders; Lin Zhichao should have received millions or tens of millions of chairman money every year, but he never received a penny and handed it all over to the company.

At the donation ceremony, Lin Zhichao, Pu Weishi, Li Ka-shing and others signed a formal donation with representatives of the Hong Kong government, and reporters pressed the shutter one after another.

On behalf of HSBC, Mr. Povis also decided to donate his shares.

At the beginning of the construction of the Hung Hom Tunnel, in addition to the largest equity of Cheung Kong Group, there were HSBC, Hutchison Whampoa, Wheelock Group, etc., and now that Hutchison Whampoa is in the hands of Lin Zhichao, he can naturally make a decision.

As for HSBC and Wheelock Group, after Lin Zhichao's suggestion, there was no refutation. After all, Lin Zhichao donated most of the equity, and it is not easy for them to continue to pay dividends.

Everyone has made money, and there is no need to continue. When the 40-year contract was signed, in fact, the Hong Kong government had no experience, and generally 30 years is enough for investors to make a lot of money. The infrastructure industry can generally return on investment in 10~12 years, and the income is quite good.

After that, it was time for questions from reporters.

Reporter: "Mr. Lin, what kind of thoughts did you take the lead in donating the management rights of the Hung Hom Tunnel this time?" ”

There is a pit, does it mean that it has something to do with recent public opinion?

Lin Zhichao said calmly: "When I proposed to invest in the Hung Hom Tunnel, I actually thought about today's things. After all, the original idea of investing in the Hung Hom Tunnel was simply to connect Hong Kong and Kowloon for economic development. Now our shareholders agree that they have achieved a good rate of return, and that they will hand over this important infrastructure to the Hong Kong government. Reasonable, without too many ideas! ”

Seeing that Lin Zhichao was not fooled, the reporter continued to ask: "Do you have any opinion on the recent rise in real estate that is too fierce?" ”

Lin Zhichao said: "This is the behavior of the market, I don't have much opinion! The real estate problems in Hong Kong are actually caused by many reasons. ”

He dodged the question.

After all, it's not time to 'go to war' yet!

Later, he, the leader of real estate, will be more affected by public opinion. (End of chapter)