Chapter 524 The Far East Exchange of the Future
In the blink of an eye, it’s December, and the first year after Hong Kong’s economic recovery is coming to an end;
After arranging several manufacturing plans, Yang Wendong also turned his attention to the two most profitable industries in Hong Kong: real estate and finance.
Zheng Zhijie, who is in charge of real estate business, and Fang Xianming, who is in charge of financial business, also came to Yang Wendong's office. The three of them drank tea together and talked about something.
"This year, real estate prices in Hong Kong have increased by 26%, which is not a lot, but the Hang Seng Index has increased by 65%. This ratio is really high enough." Yang Wendong said after looking at some basic data.
The Hang Seng Index was launched internally by Hang Seng Bank in 1964 in its original history, and was not officially announced to the public until 1969;
Now Yang Wendong has become the largest shareholder of Hang Seng. After learning about this matter, he discussed it with He Shanheng and announced it directly. In this way, the word "Hang Seng" represents the Hong Kong stock index. For the bank also named Hang Seng, it is a Advertised;
The Hang Seng Index was based on a value of 100 points in 1964, then fell to 50 points in 1967, and then gradually rose this year.
Zheng Zhijie explained: "Yang Sheng, in fact, the real estate market this year cannot be considered average, because many people suffered heavy losses during the economic crisis last year, so even if the economy begins to recover this year, there will still be relatively few people buying houses;
However, the prices of many luxury homes and high-quality locations in Hong Kong have increased by more than 40%. Many of our company's properties belong to this type of high-quality assets. ”
"Well, it's okay. Anyway, if the society is confident, the overall price will rise soon." Yang Wendong smiled and asked: "How many areas of property have we collected this year?"
In 1968, when the economy was just beginning to take off, land hoarding naturally would not stop.
Zheng Zhijie replied: "Yang Sheng, this year I purchased a total of about 1.6 million square feet of land and properties. Among them, 4 pieces of land were auctioned by the Hong Kong government, and 2 pieces of land were built for commercial office buildings. I will hold 2 pieces of land myself in the future. Build a house on a block and sell it to cash back the funds;
Others have also acquired some land from many British-funded companies, and these are also being carried out according to the plan, with some being sold and some being self-owned;
And there is”
Yang Wendong listened while drinking tea. After finishing, he said: "In other words, Changxing Real Estate can earn a net profit of about 20 million Hong Kong dollars this year, plus about 700,000 square feet of self-owned properties?"
"Yes, but some of the land here was also acquired last year, and not all of it is this year's profit." Zheng Zhijie added.
Yang Wendong smiled and said: "It doesn't matter. Just let the finance department arrange the most appropriate calculation based on taxation. With so many properties last year, it may not be possible to develop them all in the next 10 years."
There have been many economic crises in Hong Kong's business history, but including the next 73 and 83 years, the decline in land prices will be far less than that in 1967;
Therefore, Changxing Real Estate also tried its best to acquire a large number of properties last year, and it is naturally impossible to develop all of these properties at once. If it does not have the funds, it is impossible for society to accept so many properties at once, which will only collapse the real estate market;< br>
Moreover, there are many properties among them that are still profitable even though they are a bit old, so it is natural to keep them first. Only some vacant land needs to be developed first.
"Okay." Zheng Zhijie said again: "Yang Sheng, the foundation of the old navy site we acquired in 65 years ago has already begun. In addition, there are three buildings with more than 20 floors under construction on Hong Kong Island;
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Including the buildings we already have, after these are completed, we will have 10 properties with more than 20 floors on Hong Kong Island. ”
Changxing Real Estate actually has almost 20 building properties, but many of them are below 20 floors, and some of these are no longer available;
As for the buildings above 20 floors, there are Changxing Building, Four Seasons Hotel and several buildings acquired from Land.
"Ten buildings are far behind compared to Land." Yang Wendong shook his head and said: "Land has more than a dozen buildings in the prime location of Central alone, and there are many outside."
Zheng Zhijie said: "Real estate has been accumulated for a hundred years, and it will take some time to cross them."
"Or, it would be more convenient if we could acquire it." Yang Wendong smiled, then looked at Fang Xianming and said, "Old Fang, how is your acquisition of Jardine Land shares going?"
Fang Xianming replied: "Yangsheng, currently the Land shares in my hands are at 5.1%, Jardine Matheson is at 4.7%, and Wharf is at 8.9%."
"Is the proportion of Wharf so high?" Yang Wendong was overjoyed;
His goal is Land, but Land is the backbone of the Jardine Matheson Group and the symbol of the Hong Kong government. If he wants to acquire Land, it may not be that easy;
Then we might as well start with Wharf. Relatively speaking, Wharf is much smaller, but it is also very high-quality. Especially the land in Harbor City is larger than that of Whampoa Group and is more valuable.
Fang Xianming said: "Yes, Wharf had a public share increase this year to develop its real estate, and then I seized the opportunity to expand our shares.
Even if it weren't for avoiding being discovered, if I really went all out to acquire, I might have acquired about 10% by now. "This year, many British investors are indeed preparing to invade the real estate market on a large scale. Yang Wendong nodded and said, "But this is also our opportunity." ”
Except for Yang Wendong, the rise of Chinese capital relies on houses. Even Yang Wendong also relies on real estate for part of his industry;
In this case, the rise of Chinese capital will inevitably stimulate some British capital, and they naturally want to come in and get a share of the pie;
It's just that they don't understand real estate operations. After the first wave of attempts, they all lost their money, and then they were forced to adopt a low-risk model, so they either expanded their shares and raised funds like Wharf and Wheelock, or they did like Hong Kong Electric and Swire. Sell some of the land to raise funds to operate other lands.
This approach all benefited Chinese capital. The Zhang family took this opportunity to become Wheelock's major shareholder. Zheng Yutong took this opportunity to acquire the Swire Blue Chimney Wharf and build a top-notch commercial center and hotel in the future;< br>
Many Chinese wealthy people also benefited from the cooperation with Hong Kong Electric and Swire. The last Wharf was also diluted too much in the early stage, and was eventually targeted by Li Jiacheng and Pao Yugang. In the end, Jardine Matheson lost Wharf.
Fang Xianming said: "Yes, these British capitals have set up special real estate companies to develop their own land, but they are not very capable. In fact, I don't quite understand that even if the real estate business cannot make big profits from development, it will not make big profits." As for losses, these British capitals can actually lose money.”
Yang Wendong smiled and said: "Don't worry about them, you two remember that if there is a British capital selling a large piece of land and the location is suitable, take the initiative to buy it;
As for some British-owned companies with large amounts of land, such as Hong Kong Electric and Wharf, if they have the idea of diluting their shares and increasing their capital, they can secretly acquire them for me. ”
"Yes, Yang Sheng." Fang and Zheng agreed.
Yang Wendong looked at the information in his hand for a while and said: "As for business, just continue to maintain the previous model. Is there anything else?"
Fang Xianming replied: "Yang Sheng, I have something here. The stock market is skyrocketing, and British capital has made a lot of money from it, but the Hong Kong Stock Exchange is now using various names to prevent Chinese capital from listing;
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Therefore, many Chinese investors are negotiating to build a separate new exchange for Chinese capital. ”
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"New exchange?" Yang Wendong guessed which one it was and asked, "Who is behind this?"
Fang Xianming said: "It's Li Fuzhao Li Sheng, a master of business administration who returned from the United States. We call him Professor Li because he has worked on the stock exchanges in the United Kingdom and the United States. He is very experienced in this field and is somewhat famous. ;
Therefore, many Chinese investors recommend him to take charge of this matter, and I have also met him and communicated with him, and he does have some knowledge. ”
"Then what does Professor Li want us to do? Also participate in promoting the establishment of the new exchange?" Yang Wendong asked.
Fang Xianming said: "Yes, they hope that we can stand on their side and promote the establishment of Chinese exchanges;
The second is that we hope that after the establishment of the Chinese Exchange, several companies under our Changxing Group will go public. ”
Yang Wendong chuckled and said: "It's not a problem to help promote the establishment of the exchange. I can help, but my companies will not be listed for the time being."
The Far East Exchange in history was established at the end of 1969, which was still one year away; then it would be almost as if we started planning for such a major event more than a year in advance;
It is a good thing for Yang Wendong that Chinese companies can be listed on the market, so that many companies he has invested in before can be listed and cashed out. Of course, he does not need to cash out, but will continue to increase the acquisition of some Chinese-owned companies, otherwise there will be no When someone goes public, he has to negotiate for shares one by one, which is very annoying.
Once there are more listed companies, it will be much simpler to directly acquire some high-quality assets based on past life memories and market performance. This is also a way to indirectly obtain dividends from the real estate industry.
But many of his own industries rely on Prophet Goldfinger, how can it be possible to go public? Unless one day it is listed due to strategic needs.
Fang Xianming agreed: "Okay, then I'll tell him right now."
Yang Wendong thought for a while and then said: "In this way, let's inform Oriental Daily and expose this matter. Many investors in Hong Kong still read newspapers, let them know that many listed companies with Chinese capital are difficult to trade in Hong Kong. Listed on;
As long as more people know about it, then either the Hong Kong Stock Exchange will agree to allow Chinese companies to be listed, or a new exchange will have to be established. In short, we will not lose. ”
In fact, according to normal logic, customers must not be turned away, but the Hong Kong government often goes against the market and insists on targeting Chinese capital, and then the Chinese capital has no choice but to find new ways;
Historically, after the establishment of the Far East Exchange, many Chinese-owned companies were listed and achieved very good results. Then a bunch of Chinese-owned companies were crowded into the market. The Hong Kong Stock Exchange immediately became anxious and opened its own listing channel, but no one cared about it; < br>
Later, it gradually declined until the Hong Kong government absolutely merged all exchanges in the 1980s, and then Li Fuzhao became the first person in charge.
Fang Xianming smiled and said: "Okay, I will go and tell Qin Sheng."
Yang Wendong added: "In addition, let them set up a special topic to write information on the stock market. Many people will pay attention to this aspect in the future."
In the 1960s, only large companies were listed, and many people did not believe in stocks, so there was not much enthusiasm;
But starting in the 1970s, it was completely different. Many people would pay attention to stocks, and this would become a major hot spot in the news.
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(End of chapter)