Hong Kong's new giants

The next day.

Lin Zuhui walked out of New World Development Company, suddenly thought of a small fortune project, and immediately walked towards Hengjin Investment.

Just now, Lin Zuhui and Zheng's father and son talked about the cooperation proposal of the Tate's Cairn Tunnel, and the two parties quickly passed the cooperation agreement; after all, the two companies did not have the conditions to independently develop the Tate's Cairn Tunnel. The cooperation with Golden Gate Architecture is also a very good solution.

And Jinmen Building belongs to Jardine, so it must not dare to invest too much, so the possibility of this tripartite cooperation is very high!

Returning to Hengjin Investment, Lin Zuhui began to find a piece of information about 'Yong'an Group' in the office.Because he seems to remember that after Zheng Jiachun came to power, he launched a hostile takeover of Wing On Group.Based on this kind of memory, Lin Zuhui felt that if he bought some odd shares of Wing On Group now, he would definitely earn tens of millions.

Although the money is not much, Lin Zuhui estimates that he can make more than [-]% of the profit (the shares of Wing On Group are much lower than the net value), so why not do it!

In Hengjin Investment Company, after reading the materials and asking the staff about the stock situation of Yongan Group, Lin Zuhui almost became uneasy.

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Wing On Group is owned by the Guo family, an old family in Hong Kong. The Guo family has grown to the third generation, and there are dozens of third-generation members.

The conduct of these members is uneven, causing many scandals. For example, some members borrowed more than 1 million yuan from Wing On Bank in violation of regulations. As a result, they died and became a bad debt.There are also many members who borrowed money from Wing On Bank in violation of the regulations. In short, the money of the depositors is regarded as the money of the family.

As a result, Wing On Bank was on the verge of bankruptcy. Hang Seng Bank bought 51% of its shares and started kicking out the Guo family.

Of course, this is not the reason why Lin Zuhui is not calm.

It is Wing On Group (listed company) that controls Wing On Company (listed company), and the property value of the two companies is as high as more than 50 billion yuan; this piece of fat is so big that Lin Zuhui, who likes "hostile takeovers", almost I want to go out again.

The properties owned by the two companies are: Wing On Center (Central District), Wing On Building (Central District), Wing On Life Building, Wing On Plaza and the shopping mall in Nanyang Center (Tsim Sha Tsui East).

The market value of Wing On Center is 27 billion Hong Kong dollars (60 square feet, the floor price per square foot is estimated at 4500 yuan), plus two medium-sized buildings in Central and two shopping malls in East Tsim Sha Tsui, the value is about 55 billion.

However, Yongan Group has a total share capital of 1.815 million shares, a stock price of only 7 yuan, and a total market value of less than 13 billion (the 55 billion property is not owned by a listed company in Yongji, including its subsidiary Yongan Company).

Lin Zuhui was thinking, as long as he controls the Wing On Group, even if the price is doubled, it will be very cost-effective, after all, he will also give away a subsidiary company - Wing On Company!

Wing On Group can earn hundreds of millions of dollars a year from rent collection. The reason why the market value is so low lies in Wing On Department Store. There are Yongan Life Insurance, securities, and bank investments, all of which are big losers.

Some media describe Wing On Group as "it's better not to do it", because doing less and losing less; not doing it, relying on rent, depositing funds in the bank to generate interest, buying HSBC, Hongkong shares, is better than trying to do everything, everywhere. Hitting a wall is better.

After Lin Zuhui's analysis, he felt that even if he came out, it would be very difficult to acquire Wing On Group.

Because the Guo family’s business management group holds 41% of the shares, the Guo family of the board of directors holds 2% of the shares, and the third generation of the Guo family who has not joined the board of directors should still control some stocks.

25% of the shares of Huayin Holdings in Singapore, this is completely worth it;

If the peripheral members of the Guo family sell their stocks at a high price to themselves, it is not impossible. After all, the Guo family has some internal turmoil.

If he has 20 billion in cash, he can give it a try!

If it succeeds, they will package and sell all the banking, insurance, securities, and department stores of the Wing On Group to the Guo family, allowing them to inherit their ancestral business.

And he was originally interested in those high-quality properties, which are a full 90 square feet of rental property in Central, and two shopping mall properties, which make people drool.

In the end, Lin Zuhui held back!

Firstly, it is difficult to succeed, secondly, I have no money, and thirdly, I don't want to cause notoriety.

Calling Li Hao, Lin Zuhui said: "Close some blue-chip stocks and buy Yongan Group stocks. Don't buy too much, about three or four points. Don't startle the snake, buy in batches!"

"Okay, I'll do it little by little through the way of swapping shares!"

"Well, sell here, buy here!"

Chapter 269 [The most popular business tycoon]

The beginning of March, Tuesday.

New Times Group first announced the issuance of 10 billion yuan in convertible bonds, which was twice as much as expected.

Convertible bonds are bonds that bondholders can convert bonds into common stocks of the company at a price agreed at the time of issuance.If the bondholder does not want to switch, he can continue to hold the bond until the repayment period expires to collect the principal and interest, or sell it in the circulation market for cash.

On the same day, New Era Group entrusted Peregrine as a financial advisor to hold a subscription ceremony in the conference hall of the building in Central. When some local investors rushed to the scene, they found many foreign investors and immediately felt the charm of Mr. Lin Zuhui.

Before the subscription ceremony started, some investors chatted one after another.

"Everyone is very optimistic about the prospects of New Era Group!"

"Of course I'm optimistic. It took less than four years for Mr. Lin Zuhui to rank the two companies into the fifth largest real estate developer and the third largest real estate company in Hong Kong (before Hongkong Land and Wharf). This ability needs to be doubted. ?"

"Yes! The important thing is that they are also very accurate in the analysis of the general real estate trend, and they predicted the stock market crash. This is amazing!"

"It seems that everyone is investing in Mr. Lin Zuhui instead of investing in New Times Group!"

"Isn't it! He is the most popular business boss in Xiangjiang!"

"Well! If you consider age, Mr. Lin Zuhui is indeed the case! But the strength is actually far behind Li Chaoren!"

"It's far worse now, but it doesn't mean it will be worse in the future. Li Ka-shing is still struggling at the age of 24, and he can't even pay his staff salaries!"

"ok I admit it!"

Many European, American and Japanese investors (investment companies) came today, and New Era Group also sent many senior staff to entertain them; the New Era Group, which has developed to this day, has already gained a reputation overseas and attracted many overseas investors to join.

The issuance of convertible bonds this time is actually equivalent to a rights issue to raise funds. Lin Zuhui himself believes that within the time stipulated by the bonds, many people will definitely choose to exchange the common shares of New Era Group at the price stipulated by the bonds. (The market price of stocks is too high, and it is necessary to make up the price difference, but compared with rights issue fundraising, bonds are a stable profit)

The issuance of convertible bonds this time is the first such commercial activity of New Era Group. Lin Zuhui himself also talked with some large investment institutions in Europe, America and Japan on the spot, and promoted New Era Group.

He started with the overall future trend of Heung Kong Real Estate, and New Times Group has a huge land reserve, which can make greater profits in the future, after all, the cost of land has been greatly reduced.

A Japanese investor posed a question and said, "Mr. Lin, if you operate real estate in Xiangjiang, you have to consider the influence of ZZ. How do you avoid this problem?"

Lin Zuhui came up with these questions at his fingertips, and immediately said: "As far as I know, from 1986 to 1988, Japanese investors invested nearly 300 billion in Hong Kong, and they were the second largest investment team in Hong Kong after the Chinese in Southeast Asia. This fully shows that , you are optimistic about the real estate trend of Xiangjiang. Moreover, our debt ratio is a little over [-]%, and we have enough ability to resist risks!"

If real estate appreciates by 4% this year, New Era Group's land reserves will also appreciate by [-]% to [-]%. This is a huge fortune.Because of this, even if New Era Group does nothing, its debt ratio will drop very quickly.

In particular, the appreciation of office buildings is faster. Less than two years ago, Huazhi Center was worth 19 billion, but now it is worth 35 billion.Not to mention making 3% of the book profit, the rent can still be more than [-] million per year (not pure profit, net profit is generally [-]% to [-]%, under good management).

The Japanese investor was very satisfied with Lin Zuhui's answer, but continued to ask: "Is it true that New Times Group's profit will exceed 15 billion this year?"

Lin Zuhui said with a smile: "Originally we expected 12 billion, but the appreciation of real estate is too rapid, I think 15 billion is no problem!"

With Lin Zuhui's personal introduction, many investors feel his charm, that is, he is quite confident, and the reasons he said are very convincing to everyone.These investors are more determined to buy New Era Group bonds, and some even temporarily increase the amount of investment.

There are hundreds of investors in the auditorium, and these investments all meet one condition, that is, the strength of the minimum subscription amount of 50 bonds.Of course, the vast majority of investors are ready to subscribe for millions or tens of millions.

And Lin Zuhui also prepared hundreds of millions of funds. In the case of insufficient subscription, he himself will choose to subscribe.

However, there is a high probability that it will not be used today.

The subscription ceremony began. First of all, Liang Zhenxun, the executive director, began to do the reporting work, using detailed data to deepen everyone's impression of the new era.

Needless to say, the real estate industry also performed very well in the fields of hotels and real estate, and immediately received rounds of applause from the audience.

As a result, when the subscription started, everyone's enthusiasm was very high.

On that day, New Era Group issued a total of 12.3 billion convertible bonds, more than [-]% higher than expected!

At four o'clock in the afternoon, the management of New Era Group held another press conference to announce the news, intending to publish it in the newspaper tomorrow, so as to stimulate the stock price.

……

The next day.

The news that New Era Group issued 12.3 billion convertible bonds immediately reached the hands of major real estate developers.

……

Sino Land.

Huang Tingfang said to his son in the office: "In the future, we will have a strong opponent in the auction. This opponent is stronger than Sun Hung Kai, Henderson, and New World, and Changshi will not give up!"

Huang Zhixiang nodded and said: "Sun Hung Kai and Henderson are building manufacturing factories, but they will not spend too high a price to develop rental properties. For high-quality commercial land, they are more cautious in auctioning. New World and Cheung Kong are actually still Well, they will consider whether the purchase is expensive or not. On the contrary, Lin Zuhui is for high-quality properties and land, and can purchase at a premium!"

Huang Tingfang said: "We are afraid of meeting such a person in the auction house. After all, we don't know what his bottom line is! However, it is difficult to defeat us. Our family regards Xiangjiang as one of the base camps and will definitely go all out !"

"Okay, father!"

……

Sun Hung Kai Properties.

Guo Desheng and his three sons were also discussing Lin Zuhui. Xiangjiang's real estate market was originally a semi-monopoly of several large real estate companies, and they did not welcome the rise of new real estate.

However, Lin Zuhui was backed by the media group, so no one dared to unite everyone to target the New Era Group from the very beginning.In addition, Zheng Yutong was optimistic about his little fellow back then and participated in the investment, so it was impossible for several major real estate companies to unite.

But now, the strong rise of the New Era Group has squeezed all the four major real estate families.

Sun Hung Kai is no exception. After the [-] stock market disaster, New Times Group was the first to respond and frantically bought "affordable" land in the market, making these veteran real estate developers sigh "one step too late". When they decide to buy land, Prices have risen slightly, and land resources are not so much.

Even the powerful Cheung Kong has lost a piece of land in a large housing estate - the property above the Lam Tin subway station.

"Remember my words, development should be in Xiangjiang, don't invest too much money overseas. Use all the money to acquire land and increase our land reserves. In this way, we will have a lot of cheap land for development in the future , the profit will increase greatly!" Guo Desheng told his three sons.

Unlike the other three major families that have a lot of overseas investment, Guo Desheng rarely spends money overseas because he feels that the return on investment is not worthwhile; of course, there must be some investment, but not much.

The three Guo brothers expressed that they followed their father's will to develop the company.

Sun Hung Kai will also complete the handover next year, at the same time as New World.

Guo Bingxiang asked: "Then do we still need to buy a lot of land now?"

At this time, Guo Desheng instinctively wanted to slow down, but when he thought of Lin Zuhui's action, he thought that the New Times Group would buy land as a reserve, and suddenly felt a sense of urgency.

You must know that the land reserve of New Era Group is already approaching that of Henderson. Although it is not yet a threat to Sun Hung Kai, it is still necessary to plan ahead.

"You can't stop buying land! It seems that we bought expensive land today, but after two or three years, you will find that we bought cheap land!"

"Okay, we got it!"

Sun Hung Kai's move is undoubtedly an expensive purchase of land, and it has bought too much!

Everyone thought that by issuing bonds and preparing for a rights issue to raise funds, New Era Group would be sweeping the land, so it would be more or less affected.Even Xiangjiang's real estate industry may be slightly stimulated, rising a little more than in the previous life.

However, the more it rises, the harder it will fall next year!

10 yuan rose by 13% and became 13 yuan; 9 yuan fell by [-]% and became [-] yuan.

In fact, the real estate market will drop by 30-35% next year, which is estimated to be equivalent to the level after the stock market crash.

……

Lin Zuhui was also in the office, thinking about how to reduce the debt and how to win the 'Land King' again.

Based on the practices of the Hong Kong government over the years, he judged that after the real estate market heats up, the Hong Kong government will definitely offer a "Land King" auction; 'Di Wang' sold for a higher price.

To be honest, Lin Zuhui thought it would happen in November and December, but there is no news yet, it is estimated that it will be in January next year.

At this time, the maps of Central and Wan Chai in his memory began to play in his mind, intending to predict that the Hong Kong government would auction off that piece of land.

Suddenly, he thought of the 'Central Plaza' in his previous life, and hurriedly found out the map to search.

In the end, he found a piece of land in the coastal area of ​​Wan Chai, and instantly thought of a possibility.

Hong Kong Island is not big, and Lin Zuhui's memory has become T. The topography and buildings of Central, Admiralty, Wanchai, and Causeway Bay, Lin Zuhui is very clear.

"It should be this piece of land!"

"I remember that the land is about 7 square feet!"

Lin Zuhui began to calculate. In 1985, the Central Land King (the headquarters of Hang Seng Bank) was auctioned at a unit price of 37000 yuan per square foot. Looking at it now, there is absolutely no problem with an auction house of more than 40000 for this coastal lot in Wanchai.

In other words, this piece of land needs more than 30 billion to be possible to win!

The current debt of New Era Group has been reduced to 50.5 billion yuan, and it is estimated that by the end of the year, it can be reduced to about 48 billion only by developing real estate sales.

Of course, it is equivalent to a profit of 15 billion to 16 billion this year (there is still liquidity in the account), and spent 7 million to buy 7% of the rights and interests of Ligendege, and repaid more than 3 million in debt. [-] million has been invested in the Internet.

The investment futures contract is hopeless. After the December futures delivery of the 3 million funds, it has to be converted into a futures contract in April next year.

Therefore, New Era Group can only raise funds by issuing bonds and rights issues.

In this way, New Era Group can raise more than 27 billion (12.3+15)!

Of course, the land in Wan Chai is a commercial land, and it is estimated that a super building of 140 million square feet can be built, which cannot be completed by New Times Group alone.

Moreover, it is a rent-collecting property, so Chinese buyers have to participate.

The current market value of Chinese Land is 100 billion, and it can raise 10 billion through rights issue. The debt of Chinese Land is only 20 billion, and it can borrow another 10 billion.

In this way, Chinese Real Estate can raise 20 billion yuan, and after New Era Group's rights issue of Huazhi, there will be 22 billion left.

The two companies have a cash flow of 42 billion, which can guarantee that the land will not be lost!

Thinking of this, Lin Zuhui nodded in satisfaction!

If the land can be won with 35 billion, then the debts of the two companies are equivalent to no increase, and they all use bond issuance and rights issue to raise funds.

As for the development plan for the first quarter of next year and the plan after the plunge, he will formulate it in advance according to the situation at the beginning of next year.