Chapter 228 228 [The crisis is coming]
Mid and late October
The Xiangjiang market is even more turbulent. Capital embezzlement by rich people is getting more and more serious. A large number of properties have been sold off, and the prices have also dropped. Lower and lower again.
In fact, even the middle class has no way to capitalize. Only the rich have assets that need to be sold and transferred. At this time, the rich in Hong Kong only account for 2% of the population, but they have mastered the More than half of Hong Kong's wealth.
Such a situation has caused citizens at the bottom and middle levels to start to panic. Some people even say that they need to prepare food, water and other daily necessities, otherwise they will starve to death in the event of a war.
Fortunately, the mainland's official media in Hong Kong published a statement in time to dispel the rumors. Otherwise, we don't know what the consequences would be.
In his previous life, Luo Qihong only heard about the chaos in Hong Kong during the great negotiations. In this life, he has experienced it personally. It is really scary. All kinds of careerists are making mischief and shaking people's hearts in order to pursue personal interests. .
If it weren’t for the memory of his previous life, he wouldn’t be able to sit on Mount Taishan so firmly. Of course, he also wants to help. After all, we are all compatriots. Unfortunately, his personal power is too small. He can’t say anything to others when he goes out. If you believe it, you will only harm yourself.
In fact, the Hong Kong government is also responsible for the chaos in Hong Kong. Perhaps it wants to use the turmoil in Hong Kong to gain more say in the grand negotiations.
The two elders of the Luo family were also extremely panicked at first and wanted to sell their assets and run away, but they were calmed down by Luo Qihong, but they were still uneasy.
For this reason, Luo Qihong asked them to work hard at Shengyun Printing. Once people get busy, they can't take care of other things.
Such an environment has seriously affected prefectures and cities, and real estate companies are the first to bear the brunt. Several real estate companies are in the most difficulty, such as Land Company, Hang Lung Company, Jia Ning Company, Jianian Real Estate Company and Great Eagle Real Estate. company.
Hang Lung Corporation is one of the five Chinese-owned enterprises in Hong Kong. In 1981, three consortiums led by it won the development rights of the properties above nine subway stations along the Hong Kong Island Railway. In each of these projects, Henglong Company holds more than 35% of the equity, so it can be said that it is in the limelight.
At this time, Hang Lung Corporation had completed the construction of the Cotton Tree Building on Murray Road in Central, and was planning to develop the Xiangshan Building in Admiralty 2 (today's Lippo Center). This land area is 60,000 9,000 square feet, with a buildable floor area of 1.043 million square feet.
However, according to the requirements of the Hong Kong government, the consortium headed by Hang Lung Company still needs to pay the final payment of HK$1.42 billion, and it must be completed within 28 days.
Cackling! !
There was a knock on the door, shocking Luo Qihong as he read the newsprint and thought.
"Come in!"
"Boss, there is big news." Chen Zhilong walked in hurriedly, "Hang Lung Company proposed to the Hong Kong government and the MTR Corporation to reduce the land price in Admiralty Section 2. The request to reach HK$1 billion was rejected, and the Japanese bank that had promised to lend HK$1.1 billion to Hang Lung Company temporarily withdrew its commitment. It is very likely that Hang Lung Company will abandon this project. "
As for the Admiralty 2 Section. Hang Lung Corporation, a subway station development project, has paid a deposit of HK$400 million to the MTR Corporation. If the balance cannot be paid as scheduled, the HK$400 million will be forfeited.
In his previous life, this was big news, and Luo Qihong naturally knew it.
At this time, Henglong Company is no different than "an eel on the beach, even if it doesn't die, it will be disabled", and its vitality will definitely be severely damaged.
Luo Qihong thought deeply. Personally speaking, of course he coveted the land in Section 2 of Admiralty. Unfortunately, neither Siu On Real Estate nor his private partnership could take over this project.
Then Chen Zhilong reported on the situation of Great Eagle Real Estate Company, because Luo Qihong was very interested in the Regal Hotel under Great Eagle Real Estate Company.
In the first half of September, the current Great Eagle Real Estate Company suffered losses of up to NT$2 billion and fell into a serious financial crisis.
However, Luo Yingshi of Eagle Real Estate Company doesn't seem to want to accept his fate yet. He is holding on to luck and wants to hold on until the last moment, so now is not the best opportunity to make a move.
“The situation of Baohua Construction Company is not bad. Since it has no external debts, it is currently only a little short on expenses to maintain the company’s operations. However, its stock price has fallen by nearly 25%, and a number of shareholders have sold off a lot of shares. Stocks. ”
“According to our investigation results, these shareholders’ private companies have a lot of debt, and now is the time to take action.”
Chen Zhilong has always been a little anxious. , maybe Kang Wenyi and Cheng Jianshen forced him too much.
Luo Qihong shook his head, "Continue to monitor the situation of Baohua Construction Company. Now is not the best time for acquisition. We must pay the minimum price to make the acquisition successful. There are many good things in the market now, and ours The amount of funds represents how much good stuff we can eat, so we must pay the minimum price to acquire it.”
"Yes!" Chen Zhilong left the office unwillingly.
October 26, Tuesday
Jianing Company suddenly announced that it would cancel the distribution of interim dividends and replace it with one bonus share for ten. At the same time, it issued 500 million preferred shares to raise 500 million yuan.
The announcement was issued in the morning and immediately caused a sensation in the market.
Many shareholders have woken up and realized that Jianing Company is in trouble and is no longer the same Jianing Company as before.
As a result, investors began to rush to sell Jianing's shares. When the market opened in the afternoon, the stock price plummeted, falling from 1.52 yuan per share to 1.42 yuan in just one hour (from the end of 1981 to September 1982, the stock price dropped sharply). Ning Company issued a large number of new shares, causing the stock price to return to its previous price).
At the same time, Luo Qihong also received news about Yida Group. Zhong Zhengwen was already facing bankruptcy, and Yida Group was on the verge of liquidation, which was several times more serious than Jianing Company.
Yida Group, with a market value of more than HK$2 billion, has liabilities of HK$2.1 billion and guaranteed loans of HK$1.6 billion, totaling more than HK$3.7 billion. Even the top five Chinese-owned companies may not be able to survive such a huge debt alone, let alone Yida Group.
"Boss, Jianing Company and Yida Group are hopeless. It is only a matter of time before they collapse." Cheng Jian said with a deep expression, "When the giant dies, a lot of people will be born. Little giant, we can get more benefits from Yida Group.”
Yida Group and Jianing Company appear to be two companies, but they are actually one company. If Yida Group collapses, Jianing Company will inevitably not be spared. Luo Qihong and others have made a lot of preparations for the collapse of Jianing Company. But Yida Group was not prepared.
Luo Qihong said with a smile, "We don't have the strength to take over Yida Group at all, and the debts of Yida Group are too high, which will only drag us down. It is better to wait for it to go bankrupt. We will win some high-quality products at the auction." "
Seeing this, Cheng Jianshen could only nod. The company's current funds are planned, and it is difficult to allocate large amounts of funds to face the Yida Group project.
"There are too many competitors at the auction. Why don't we discuss it with the bank and seize the ideal assets midway." Kang Wenyi suggested.
"Manager Kang, it is a good idea to intercept the assets midway, but the people in the bank are very smart and will definitely take the opportunity to ask for a high price, which is much higher than the auction price." Chen Zhilong retorted.
Luo Qihong smiled and said, "If there is a way to deal with the bank, this is the best way."
Seeing the boss's support, Kang Wenyi said, "You have to give it a try. If you can get it at a low price, it will be good for the company." It's the best."
"Okay! I'll leave this to you, Manager Kang," Luo Qihong reassured, "It's okay if you don't get it. Chess."
"Yes, boss!" Kang Wenyi agreed.
"Director Chen, you have to keep an eye on the commercial buildings in Central these days, especially those small and medium-sized commercial buildings with only scattered owners." Luo Qihong looked at Chen Zhilong and ordered.
Siu On Real Estate Company's strength is limited, and the funds to acquire large commercial buildings in Central are tight. It is better to win by quantity. After all, the prices of small and medium-sized commercial buildings fall faster than those of large commercial buildings.
November 1, Monday
Yida Investment Company (formerly Jielian Enterprise Company), a subsidiary of Yida Group, announced its liquidation, and the company chairman Zhong Zhengwen fled Hong Kong in a hurry.
Due to the relationship between Yida Group and Jianing Company, Jianing Company’s fund-raising rights issue plan was rejected by the Securities Regulatory Office, and personnel were organized to prepare an investigation into Jianing Company’s finances.
The news came out like a bolt from the blue, and the share price of Jianing Company plummeted further, with the price per share falling below 8 cents.
Jianing Company Conference Room
Six people including Chen Songqing, director He Guiquan, Lin Xiufeng and Lin Xiurong brothers of Baishunning Group, and accountant Bige gathered here for a meeting to discuss how to solve Jianing Company's predicament.
Actually, the Lin brothers of Baishunning Group are not directors of Jiani Company and do not seem to have much to do with this matter. However, the Golden Gate Tower transaction has not yet been completed. Once Jiani Company goes bankrupt, the Lin brothers Facing the risk of being prosecuted by the Independent Commission Against Corruption, the charge is naturally that of conspiring to defraud the shareholders and creditors of the company by making uncertain and misleading statements and concealing the company's profits, liquidity and financial status.
So, the Lin brothers were forced to show up at Jianning Company to discuss how to help.
The father of the Lin brothers was one of the founders of Hang Seng Bank. His brother Lin Xiuliang ran the family business for 30 years and worked hard to build wealth, power and reputation for the family. Unfortunately, Lin Xiuliang died 70 years later, and Lin Xiufeng took charge of the family property. , but the investment has repeatedly failed, and now it is trapped in the jail of Jia Ning Company.
"Chen Songqing, if you have anything to say, please tell me quickly. We have other things to do." Lin Xiufeng said unceremoniously.
The Lin brothers still think that the Lin family is the top wealthy family in Hong Kong. Even the governor of Hong Kong will give him a thumbs up when he meets them, so naturally they don't take Chen Songqing seriously.
Chen Song said with a smile, "Da Linsheng, don't worry, Jianing Company seems to be in danger now, but in fact it is easy to turn things around. I asked Dalinsheng and Xiao Linsheng to come here to ask you to help me." Busy."
"Why don't you tell me? Stop showing off, we don't have time to play with you." Lin Xiufeng said with a bad attitude.
"Hang Seng Bank's major shareholder is HSBC. Now Jianing needs a loan of 250 million yuan, so I hope Lin Sheng can say hello to HSBC." Chen Songqing said Relax, what the Lin brothers want to do cannot be solved with just a few words.
Lin Xiufeng sneered and said, "You don't think that HSBC is opened by my family, do you? Jianing Company has encountered such a big problem now, and the Securities Regulatory Office has to audit the accounts. It will be difficult for HSBC to lend to you again."
"Da Linsheng, you are not the only one to contribute. I will also ask others to contribute. As long as Dalin Sheng says hello, Dalin Sheng does not need to worry about the rest." Chen Songqing smiled and said, "Only HSBC Bank is willing to lend money, and Jianing Company This game can be solved, otherwise we will be in trouble."
"You threaten me?" Lin Xiufeng stared at Chen Songqing with a very unhappy expression.
Chen Songqing laughed a few times and said, "How dare I threaten Dalinsheng? I'm just asking Dalinsheng for help."
Lin Xiufeng saw that Chen Songqing was giving up and didn't want to get entangled anymore, so he waved his hand. "Okay, I will call the vice president of HSBC to intercede for you, but the Golden Gate Tower transaction must be completed as soon as possible. I don't want to be in the same boat as you all the time."
"Don't worry, Dalinsheng! When this matter is over, I will clean up the Golden Gate Building immediately." Chen Songqing said with a smile.
(End of this chapter)