Chapter 262 Amazing annual profits
Zheng Zhijie continued: "There are also some other properties, such as those collected for Carrefour and Yiran Home, and these properties are also managed by these two companies.
< br>The land at No. 2 on Queen's Road will also be managed by Four Seasons Hotel in the future. After all the brother companies are open for business, the liabilities will also be transferred from Changxing Real Estate."
"Okay," Yang Wendong nodded.
The initial investment in self-owned properties was very large. Basically, it was the funds Yang Wendong mobilized from Changxing Industrial. The appreciation part is not included in the annual profit. We can only wait until it is cashed out. After all, he There's no need to play these word games to get a stock going.
The properties purchased for brother companies will be held by these companies in the future, but the liabilities will naturally be passed along with them. Even if there is insufficient funds in the future, it will be the boss Yang Wendong who will mobilize additional funds to help.
Zheng Zhijie continued: "We also have some small properties in Hong Kong Island and Tsim Sha Tsui, mainly street shops, totaling almost more than 20,000 square feet;
The above are all the properties of Changxing Real Estate . ”
“Okay, we will continue to acquire street shops and let go this year. Do it. "Yang Wendong paused and said: "As long as you have suitable funds, you can come to me."
The special thing about street shops is that they are very scarce resources and can hardly grow because of business. Complexes can be built in the suburbs, but the number of shops in the city center or town center cannot be increased no matter what.
Regarding scarce real estate resources, his principle is to make large-scale acquisitions in 1966 and not give up at other times, unless it is the eve of a crash, in which case it may not be necessary.
Although the so-called 1966 real estate crash seems scary, compared with the dozens of times of future land price growth, it is just a small initial fluctuation, not worth mentioning.
It’s just that my funds are limited, so the most suitable investment now is these high-quality assets.
"Okay." Zheng Zhijie agreed.
Yang Wendong said again: "Everyone, I am quite optimistic about Hong Kong's economy, especially real estate. Although non-real estate businesses are not allowed to participate in real estate development, as long as you have a need to purchase properties, you can put it forward. .”
It is most convenient to hoard land based on different business development needs. In particular, you can apply for land from the Hong Kong government. Only if you have business needs, the Hong Kong government may agree.
“Understood.” Several core business leaders also agreed.
Yang Wendong said again: "Now that we have finished talking about real estate, the next step is shipping."
Zheng Yuhua, who is in charge of shipping, said: "Yang Sheng, currently our Changxing Shipping has a total of 8 ships sailing. Freighters are mainly for Changxing Industrial’s trolley cases, and they take European, American and Japanese routes; < br>
Last month, we have signed cooperation agreements with several shipping companies in Europe and Australia to purchase a total of 19 cargo ships. These ships will undergo an overhaul and full body inspection at the official dock in the original place. If there is no problem, I will probably go to Hong Kong in March or April.
In addition, in December last year, we signed a contract with Japan's Mitsubishi Shipyard for five new cargo ships. According to the contract, the first ship will be delivered in October this year, and will be delivered one after another in the next six months.
If we do not consider continuing to purchase second-hand ships this year, by then we will have 32 cargo ships with a total of almost 470,000 tons of shipping space. ”
In this meeting, we will not talk about profits. We will just talk about the specific development of each company. These things are actually not secrets. Not to mention internal high-level officials, even a conscientious reporter can check them. A rough idea.
“Second-hand freighters will continue to be purchased. Yang Wendong added: "Ms. Zheng, your next focus is to cultivate team talents and prepare for more cargo ships."
In addition, we should pay more attention to the Kwai Chung Dockyard. After the first dock is built, we will build the second one. The third one will ensure that we have sufficient maintenance power in the future. ”
Although the future of shipping is not as evergreen as real estate, the level of short-term huge profits is still higher than that of real estate, especially the ability to directly earn a large amount of cash.
Even if there is a crisis in shipping in the future, the level of huge profits will be far less than before, but its own "large order" characteristics are enough to make ship owners become VIPs from various countries, which is far beyond the reach of real estate.
As for Kwai Chung, the value is even higher. The land there is not valuable now, so you can build a dock if you want, and buy a warehouse if you want. When the container terminal is put on the agenda, what about the other few It is difficult to come here for ship repair yards; in the original history, the ship repair yards of Huangpu and Taikoo moved to Qingshan.
"Understood, Yang Sheng." Zheng Yuhua promised: "I will continue to follow up on these two matters."
"Yes." Yang Wendong nodded and looked at Qin Zhiye again, Said: "Old Qin, please tell me about your business."
"Yes, Yang Sheng." Qin Zhiye said: "Compared with everyone else, our media company is much smaller. Currently, the daily sales of our Hong Kong and China Daily are about 10,000, and the Oriental Daily is currently at 15,000."
"Very good." Yang Wendong smiled and said: "The media itself is not used to make big money. Several of our internal businesses, including real estate, supermarkets and even shipping companies in the future, are used to solicit cargo orders. I need to rely on you."
"I am also very happy to be able to serve our brother company," Qin Zhiye also said: "And it is a relatively stable large order for us. '
Yang Wendong nodded and said: "Maximizing the utilization of internal resources is what I hope to see most. In terms of newspapers, Oriental Daily still has great potential. I hope to see its daily sales as soon as possible. It can reach the level of 30,000.”
The best-selling newspaper in Hong Kong today has a daily sales of about 30,000, which is basically the limit of a city;
However, as the economy improves, this limit will gradually increase.
"Okay, Yang Sheng, don't worry, Oriental Daily has actually been showing an upward trend." Qin Zhiye said with a smile: "It is estimated that it will exceed 20,000 in a few months.
In addition, We have also reached cooperation with the Bank of East Asia to assist local people in Kowloon who meet the Hong Kong government’s requirements to apply for new newsstands on a large scale. This will also benefit Oriental Daily and even To the sales of Hong Kong China Daily."
"Yes, OK." Yang Wendong nodded, he also knew about this, and then asked: "What about the radio station?"
Qin Zhiye replied. : "The number of radio users in Hong Kong today is estimated to be around 400,000. Our average daily number of users is 100,000, which is basically the limit;
If you want to increase the quantity, you may need to wait for the market to expand on its own. The price of radios in Hong Kong is already much cheaper than before. However, the price of transistors in Japan may increase in the future. It is not sure how big the impact will be. ”
“I am already preparing for this. "Yang Wendong said: "I will introduce a transistor production line from the United States. When Hong Kong can produce it on its own, the price will be cheaper than the previous Japanese products. ”
Wang Zhiqun, whom he interviewed before, has officially joined his Honor Electronics, but he did not return to Hong Kong. Instead, he looked for suitable production lines and related talents in the United States.
This matter is not easy. , so it will take some time, and it will not take less than a month to raise all the people and materials.
Qin Zhiye said: "If this is the case, coupled with the current economic development speed of Hong Kong, then in the future. The market for radios is bound to grow rapidly. ”
"That's not necessarily true. Maybe many people will prefer watching TV." Yang Wendong said with a casual smile.
When the economy improves, radios will not be eliminated, but they will gradually be replaced by televisions.
Qin Zhiye replied: "It's possible, but the cost of Li's TV station is still too expensive, and the TV itself is even more expensive, so in the short term, the impact will not be great."
"Well, let's talk about this later." Yang Wendong nodded. If TVB doesn't come out, radio will definitely still be the mainstream.
Otherwise, not many people would be willing to pay the limited TV fee of HK$25 a month.
Then, he said: "Okay, the four main businesses of Changxing Group are basically the same.
Let everyone listen together and understand the development of the group. In the future, everyone , please also try your best to cooperate and develop together
In addition, Liu Sheng’s Carrefour Supermarket, Future Honor Electronics Company, Four Seasons Hotel, etc. will also be the main business of the Future Group, but they have just started, so there is not much to say.”
"Okay/Roger that," everyone replied.
At the same time, he looked at Liu Huayu, who had been silent just now. Carrefour Supermarket was established last year by the boss who pooled the resources of the entire group. The importance of the future is obvious without even thinking about it.
Yang Wendong paused and said, "One more thing. Several of you have been working at Changxing Group for several years, and your salary will be increased after the year. The finance department will inform you of the specific amount by letter."
"Thank you Yang Sheng." Several people said with a smile.
Working at a high level is also for your own benefit. Naturally, everyone will be happy with a salary increase. Yang Wendong added: "In addition to salary, there will also be some welfare rewards. You also know that I have some villas in Happy Valley. You can live in them for free. There will also be dedicated cleaning staff to save you the troubles of life."
"Thank you Yang Sheng." The few people who were happy just now are even happier now.
Yang Wendong smiled again and said: "If you do a good job in the company, there will be more benefits in the future."
He will not be stingy with those who are helpful to him, and will give them the high salary and benefits they deserve.
And now it only gives the right to live, not the right to property.
"Okay." Everyone agreed.
"Let's break up then." Yang Wendong said again: "Sister Wang stays."
After a while, only the Finance Sister was left in the conference room.
Yang Wendong asked: "Sister Wang, can the company's current main businesses basically achieve self-profit?"
Wang Fengzhi thought for a while and replied: "Changxing Industrial and Changxing Media has already achieved self-profit. If Changxing Real Estate is divested of Changxing Real Estate, it will also be profitable.
The same is true for Changxing Shipping. Not counting the latest new and old ships purchased, the previous eight ships. The ship has also achieved positive profits.”
“Well, you don’t need to include large investments, just normal depreciation.” Yang Wendong nodded.
"Okay." Wang Fengzhi took out another document and said: "This is the profit list of several businesses of the company that I compiled, excluding last year's property appreciation and data after large investments."
"Let me take a look." Yang Wendong said with a smile. In fact, he probably knew the data at the beginning of the year, but the financial department must calculate it clearly before submitting a formal report.
Wang Fengzhi explained: "This first page is a list. Last year, Changxing Industrial's net profit was 51.26 million, Changxing Real Estate's profit was 9.67 million, Changxing Shipping's profit was 3.66 million, and Changxing Media's profit It is 1.22 million.
However, we invested a lot last year, including the industrial park and land in Kwun Tong, the land of Four Seasons Hotel, 24 new and old cargo ships, and the dock in Kwai Chung. Although we tried our best to use bank funds, we He also invested almost 40 million yuan. "
"The data is really good," Yang Wendong said happily: "If these data really come out, it will be enough to make another hot news."
< br>
Tens of millions in a few decades will be nothing at all. To many people, it may just be a small fortune.
But in Hong Kong in the 1960s, the figures were absolutely astounding. If it were a company's annual profit, it would be enough to make many people's jaws drop.
Calculated only in terms of housing prices, a 1,000-square-foot luxury home in Central costs about HK$50,000 to 60,000. In other words, Chang Hsing Group’s annual profit is enough to buy 1,000 luxury homes in Central, which is comparable to that of several decades ago. Tens of billions later.
Last year, the per capita salary in Hong Kong was only 150 Hong Kong dollars, and the clerks in the Central office buildings were only 300 to 400. Many ordinary people may only be around 100.
Wang Fengzhi said: "Yes, judging from Jardine's listing data, they only make a profit of more than 100 million a year, and Swire only makes 70 or 80 million."
"There are tricks in these listed companies. You can't just look at the financial reports." Yang Wendong shook his head and said.
There are so many ways that listed companies can cheat. Even an ordinary person knows that after listing, other companies can be used to extract profits from the listed company through cooperative relationships and suck blood from it.
Not only in Hong Kong, many listed companies around the world play this way. On the one hand, they use stock market financing to gather funds, and on the other hand, they can also use various means to earn profits for their sole proprietorships.
And these are still completely legal. Even if the Independent Commission Against Corruption comes ten years later, there will be nothing that can be done.
It can also be said that this is a tacit understanding of capital society.
"I know, but it can be a reference value." Wang Fengzhi said with a smile: "If we go public, the market value is estimated to be several hundred million."
"I will not consider the listing for the time being." Yang Wendong objected.
If it is a normal company, it can naturally consider listing for financing after it has developed to a certain level.
But the core of Changxing Group’s many businesses is not the existing assets, but some future information that the founder knows in his mind.
It would be too stupid to go public in the early stages of development. Well, we will only need to consider this matter in the future when the golden finger of the prophet is of little use.
Wang Fengzhi added: "Yang Sheng, although we are not listed on the market, our export scale, property scale, and shipping scale cannot be hidden, so interested people can still know the general situation."
"Me neither Thinking of hiding it," Yang Wendong said nonchalantly: "As long as outsiders know it, our business is getting bigger and bigger, so it is definitely impossible to compete with that. They are as low-key as some rent collectors.”
Many invisible rich people in Hong Kong are able to be “invisible” because they focus on industries with little impact, such as real estate and trade, and their development time is also very long. Three generations;
And a rapidly rising new rich man can also drive a large number of jobs and tax revenue, and the scale of the industry cannot be concealed.
As for profits, if you find some professionals in the industry, you can get a rough idea. There is no way to control these.
"Okay." Wang Fengzhi said no more, and then said: "Well, Yang Sheng, will the group's main investment direction next year be the same as this year?"
"I remember that there was something in the group's account at the end of last year. 50 million Hong Kong dollars. Yang Wendong thought for a while and asked: "How much money do we have in our account now? "
"To be precise, it is HK$65 million, which keeps changing. Wang Fengzhi added: "In addition, our current debt to the bank is 116 million, and the value of our current self-owned properties and cargo ships exceeds 100 million."
In addition, our profit is 50 to 60 million a year and will increase in the future, so the debt ratio is not high. "
"That's good. Yang Wendong nodded and said: "Next, I will focus on investing in the shipping industry, and a little less on real estate;
You should prepare some funds here, because we will invest more funds ourselves on second-hand ships. ”
The main reason is insufficient funds. Although it seems that he can leverage hundreds of millions of funds if he is really cruel, investing in shipping is nothing.
He will invest in real estate and shipping. But in the short term, there will be a real estate crisis in a few years, so just invest in some high-quality properties in the next few years.
And shipping will usher in a big explosion of opportunities in a few years, so naturally. Need to focus on investment.
“Okay, I will optimize the group’s cash flow. Wang Fengzhi agreed and said: "But Yang Sheng, Hong Kong banks have recently begun to relax their restrictions on shipping, and the restrictions on second-hand freighters are much better than before. We still need to communicate with several banks in advance." ”
"Yes, I know." Yang Wendong nodded and said: "Banks such as HSBC, Standard Chartered, Hang Seng, and East Asia are our long-term cooperative banks. You can also cooperate more with them and build a good relationship."
From HSBC After relaxing investment in shipping, several other banks in Hong Kong followed suit. This can be regarded as a leader effect.
Hong Kong's shipping industry developed greatly in the 1960s. It may also be for this reason that the scale expanded significantly before 1967. Then luck broke out and encountered the Middle East war that lasted for 8 years. From this, three world-class shipping companies were born. The ship king.
"Okay, I will cooperate and negotiate with these banks." Wang Fengzhi agreed.
Although many large cooperations are negotiated by the bosses themselves, the bosses only discuss the direction, and it is up to her, the finance or department head, to reach the deal with the bank together with the details.
At other times, they are responsible for some small cooperation.
PS: Please give me monthly tickets
(End of this chapter)