Chapter 482 Cooperation with Hutchison Matheson (please ask for monthly tickets at the beginning of the month)
“The Changxing Group invested HK$450 million to build tunnels and terminals, showing its strong confidence in the future of Hong Kong.”
“ The Hung Hom Tunnel is about to be built. What will happen to Hong Kong housing prices? "How will the construction of the container terminal affect Hong Kong's economy and manufacturing industry?"
Various media are also investing in this rare local business news. A lot of resources were used to promote it, and TVB even broadcast it during prime time.
However, the popularity did not last for a few days, and the impact on Hong Kong’s housing prices was not great, and it still maintained a very low position.
After Yang Wendong saw this situation, he did not find it strange. Today, the entire society in Hong Kong is lacking Safe Harbor and Confidence, this action of mine seems to many people to be a fool's act, and it may only have some impact on a small number of groups.
After the infrastructure construction is won, construction will not start in the short term because Hong Kong has no experience in this area. Changxing Group still needs to solicit bids from international sources, so this project looks very expensive, but in fact it is very important to Changxing Group. The capital flow has little impact.
Such a large project itself also requires support from the government level. Therefore, during previous discussions, HSBC, as the "quasi central bank" of the Hong Kong government, was also involved. Almost 90% of the funds for future infrastructure construction will be provided by HSBC is responsible for it, and the interest rate is not high. This is also a responsibility of the quasi-central bank.
On the other hand, Changxing Real Estate’s targeted acquisitions are also continuing. Many groups who want to immigrate or want to secure funds even if they don’t leave are also willing to sell after communicating with Changxing Real Estate. The property is in hand and the asking price is very low.
July 8, Cheung Hing Building:
“One foot of Central office building only costs 160 Hong Kong dollars. This price was in 1964. It was impossible to get it without 1,000.” Yang Wendong looked at the information handed over by Zheng Zhijie and said with a smile.
Zheng Zhijie said: "Yes, this is still Central. Many commercial office buildings in Admiralty and Causeway Bay have dropped to 100 square feet. Here in Kowloon, it is even lower, ranging from 30 to 50 feet. Some are even exaggerated. Just sell it if you can, especially small properties.”
“If it’s too small and too remote, we won’t bother with it. It doesn’t make any sense.” Yang Wendong continued, “We’ll stick to the original plan. If there are other newly emerging properties with large areas and good locations, you can also consider them. Just tell me in advance.”
It is not a large office building or a special commercial building. Yang Wendong will not participate in the decision, but it is a medium-sized property. You also need to know in advance when acquiring him. This is also a control of financial rights. After all, these properties that are inconspicuous now will have a few small target values in the future.
"Okay, no problem." Zheng Zhijie added: "Yang Sheng, there are rumors in the market that Wheelock intends to sell a lot of properties. I want to get in touch with them."
"Okay, with such a big company It is much more convenient for enterprises to buy directly than to buy in bulk," Yang Wendong points out. He nodded and said: "Other Swire, Hong Kong Electric and the like can also operate in this way, which is much more convenient."
Although he also has ideas about these British companies in the future, after all, it is still a matter of the future, and there is more uncertainty. So now get the best one where you can see the property.
And British capital does not know how to operate real estate at all. It is nothing more than taking over their land first, then waiting for 68 years to develop and making more money, and then buying their stocks in turn. A business model that can self-circulate hematopoiesis.
"Okay." Zheng Zhijie agreed.
At this moment, the phone in front of his desk rang. Yang Wendong pressed the hands-free button, and the voice of Xiaoying, the assistant outside, came from inside: "Yang Sheng, Qi Dezun from Hutchison Matheson called and wanted to make an appointment with you."
"Qi Dezun?" After hearing this, Yang Wendong said: "Okay, when?"
Xiaoying said: "He said it will be according to your time."
Yang Wendong thought for a while and said: "Then let him come to my place tomorrow morning."
Changxing Group It is not a secret to invest in Hutchison. After all, the listed company has an additional director and major shareholder, and it must be announced to the public.
Therefore, even if Qi Dezun is invited to Changxing Group, it doesn't matter if outsiders find out. He is a business partner with equity ties.
"Okay." Xiaoying said and hung up the phone.
Zheng Zhijie said: "Qi Dezun came to us at this time, does he want funds? Nowadays, in addition to us, there are many people who are also taking advantage of low prices to absorb stocks and real estate, and Hutchison is one of them."< br>
“It’s possible.” Yang Wendong said: "But he is also smart, and he also knows that we are also acquiring properties. If he just wants to acquire land, I have the money, it is better to invest it myself."
"That is because he likes someone. A British company?" Zheng Zhijie asked uncertainly.
Yang Wendong nodded and said: "Maybe, we have to gradually test the bottom line of the Hong Kong government. He is British-owned, which is much more convenient. Even if one day he wants to acquire Jardine, the Hong Kong government will not care."
The core interest of the British Hong Kong government is to protect British capital, but it will not protect a certain British capital unless the Hong Kong governor has a good relationship with the British capital consortium. Therefore, if a malicious merger or acquisition occurs between British capital, the Hong Kong government will generally not I'll take care of it.
Zheng Zhijie also said: "There are quite a few medium-sized companies among British companies, many of which are better than Kinmen Group and Huangpu. It's a pity that we are a little inconvenient, otherwise we could have started directly."
"We will find out when we meet Qi Dezun tomorrow." Yang Wendong said: "I also want to see what he wants to do."
The next day, Qi Dezun was led by his assistant Xiaoying , came to Changxing Group.
"Hello Yang Sheng, Zheng Sheng." Qi Dezun said in very proficient Cantonese.
"Mr. Qi Dezun, please sit down." Yang Wendong also said politely.
Qi Dezun said with a smile: "Sheng Yang, the two major projects of Hung Hom Tunnel and Kwai Chung Pier have started construction. The future scale of Changxing Real Estate will definitely exceed that of Land."
"Compared with Land, the gap is huge It’s still quite big, with more than a dozen buildings in Central, it will be the real gathering place for wealth in the future,” Yang Wendong shook his head.
Nowadays, the value of large-scale projects far exceeds that of the Central Building. In the early 1970s, the Jardine Group also planned to exchange Connaught Building with Pao Yugang for a 200,000-ton oil tanker, but the latter rejected it. , this also became something that Bao Yugang regretted for the rest of his life.
But in the future, whether it is infrastructure or oil tankers, even if there is room for appreciation, it will be very small, but the appreciation of real estate will be much greater. This is similar to how Santana could exchange for four Puxi houses in 1990, and one Puxi house in 30 years. Change to 4 Rolls-Royces.
Qi Dezun nodded and said: "Yes, real estate is A miracle, its value does not lie in its cost, nor in its future benefits, but in the changes in the wealth of the entire society. This is incomparable to any infrastructure." "Qi Dezun, I heard that your and. Remember, you are also constantly acquiring properties? Then why are you here today?" Yang Wendong asked with a smile.
Qi Dezun said: "The properties acquired by Hutchison are far behind those of Changxing Real Estate, so I want to change my mind and directly acquire those British-owned companies that hold a large number of properties. Their The stock price is also very low because it has negative Debt;
At this time, I can buy it at a low price. When the real estate market recovers in the future, the real estate can be doubled, but their liabilities will not increase much. In this way, for me, I can buy more at the lowest cost. ”
"Theoretically, it's correct." Yang Wendong asked curiously: "It's just that you are so confident that Hong Kong's real estate market will recover?"
This is quite strange. A lot of British capital now wants to run away. Those who are on the road, namely Swire, Jardine, and Wheelock, are based in Hong Kong. Once they leave, they will suffer heavy losses. Their interests are tied here, so they can only continue to wait, but they will not increase their investment. , and are also cashing out assets appropriately.
Only Qi Dezun is the other way around. He is taking advantage of the current situation to expand. Historically, with stronger capital and British status, Hutchison’s expansion rate far exceeded that of Li Jiacheng and Li Shauji who were also bargain hunting. and others, became one of the four major foreign banks in the early 1970s, second only to Jardine Matheson.
Qi Dezun said with a smile: "I have confidence in Hong Kong because I came here in the 1930s and have had contact with people from the mainland. I also know the mainland very well. They obviously want to use Hong Kong as a Otherwise, there would be no Hong Kong today.
Since Hong Kong was fine 18 years ago, it will be fine today and even in the future.”
"That's good, how do you want us to cooperate?" Yang Wendong asked with a smile.
Qi Dezun said: "It's very simple. Yang Sheng will raise funds with me directly, and then don't worry about it. I will handle the acquisition, and you can just sit back and wait for the profits."
"I will raise funds? Doesn't that mean I will increase my shares?" Yang Wendong asked.
Qi Dezun said: "Yes, but the voting rights for the stocks obtained by Yang Sheng after financing must be given to me."
"This won't work." Yang Wendong shook his head and said: "It's better than this, we Working together, although you have financing from the stock market, banks or other means, the funds you can obtain are also limited
So we join forces, for example, we acquire the same company together, and the number of shares can be determined in advance, how about? ”
There are too many medium-sized British-owned companies in Hong Kong, and the economic crisis in 1967 was relatively short. If I personally went to the acquisition, I would probably not be as efficient as Hutchison, a British-owned company.
The Hutchison Group in the future will not actually be a single company, but a large consortium composed of Hutchison as the main company and connected through various equity interests. It will control a number of listed companies in the top 100 in market capitalization. Of course, Jardine Matheson, Wheelock is similar.
With the help of Hutchison, he can gradually bring capital to these subsidiaries. The most important thing is that Qi Dezun, like the future liar Chen Songqing, is a person who can use various methods. People who use tricks to raise stock prices may even use illegal means. The stock bubble they invest with will be very large, and the returns may be much higher than investing in a certain company alone.
" Can. "Qi Dezun thought for a while and agreed.
Although there are some hidden dangers, Yang Wendong is a Chinese, and the Hong Kong government will not allow him to annex too many British-owned companies. If another British-owned company proposed such cooperation, he would not agree.
Yang Wendong asked again: "Then which companies are you optimistic about?"
Qi Dezun replied: "Junyicang, Anderson, Harbor Engineering, Huangpu Group."
Listening to Qi Dezun mentioning many companies in one breath, Yang Wendong smiled and said: "Qi Dezun, you The ambition is really big. With so many companies, the combined scale will be bigger than Wheelock, right?”
Needless to say, Huangpu Group’s core industry is Huangpu Wharf. Although the wharf is gradually declining, it can Large tracts of land are still there, and they are valuable to those who are interested;
Kwan Yick Warehouse was a very famous warehouse chain in Hong Kong in the early years. It had no industry but a lot of land;
Anderson was a stone mining company, and many building materials in Hong Kong came from it;
Harbor Engineering is a construction company, similar to Golden Gate Group, but slightly worse.
The scale of each of these companies is far smaller than that of top foreign firms such as Wheelock, but together they are very large.
Qi Dezun said with a smile: "It is precisely because of their large scale that I want to acquire them."
"But with so many companies, it may take you many years to acquire them one by one or obtain a controlling stake." Yang Wendong added.
Qi Dezun said: "Yes, this is a long-term plan. At present, my short-term goal is Junyicang. Apart from land, his other businesses are not very good. The stock price has dropped to the lowest, which is convenient for me to acquire."< br>
"Okay, how about we share 55%? One person will buy half of the shares. When the shares are almost gone, you will come forward to buy it?" Yang Wendong said.
"Okay." Qi Dezun also agreed.
After the meeting, after Qi Dezun left, Zheng Zhijie said: "Yang Sheng, this Qi Dezun treats us as a bank, and just wants to use our funds to help him expand the scale of Hutchison."
"I know." Yang Wendong said: "But as Hutchison expands its scale, these assets will gradually fall into my hands. You must know that Qi Dezun can come forward to conduct peaceful and good-faith acquisitions with these high-quality British-owned enterprises. We are afraid A bit difficult.
With the help of Hutchison, we will gradually control these companies. When the time comes, won’t Hutchison still be ours?”
“But in order to reassure Qi Dezun, you didn’t sign the agreement against Hutchison? Voting rights to give up the agreement?" Zheng Zhijie asked.
Yang Wendong said: "That was only 20% at that time. Do you think that with Hutchison's current craziness, he will inevitably raise large-scale financing to dilute his shares, and the proportion of stocks that I gave up the voting rights agreement will change. Low, and the stocks I asked Fang Xianming to acquire are normal.
When the time comes, I will sell all the previous stocks, so that all restrictions will be gone.”
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Historically, Hutchison had a market value of 7 billion in 1972. Now with its own promotion, the market value may be higher. As long as I sell stocks in the early stage, I can take over when Hutchison's stock price collapses due to over-expansion;
As for HSBC and Li Jiacheng, go wherever you want.< br>
Of course, history has changed now. The 1973 crisis was purely an economic crisis. Its own impact may cause time to change, but this crisis should still be there, because any crisis is caused by excessive investment in the early stage. , it should be the same with or without Yang Wendong.
PS: Ask for monthly tickets at the beginning of the month
(End of this chapter)