Hong Kong's new giants

In the meeting room of Hengchang Enterprise, Lin Zuhui, Liang Botao, and Liang Zhenxun participated in the negotiation of "Hengchang Enterprise Acquisition". Hengchang Enterprise's financial consultant - Dingyuan Investment issued a statement of Hengchang Enterprise's assets:

The document lists Hengchang's assets in 77 properties in Hong Kong, Japan, the United States, Canada, and Singapore in detail, with a valuation of more than HK$52.5 billion.Including the discount of Hengchang's agency rights and the valuation of procurement, wholesale and retail networks, Hengchang's net asset value is about 77.8 billion Hong Kong dollars.

The document did not list the cash situation of Hengchang Enterprises. It seems that He Shanheng and others planned to divide the cash before the acquisition, which frustrated Lin Zuhui's initial idea.

In other words, the three old heads of Hengchang Enterprises do not intend to sell immediately, but intend to continue to wait for the price.

Lin Zuhui pretended to read the information, but he was thinking about how to buy it, which was in his best interest.

He knows the historical trend. Once the "Iraq invasion of Kuwait" breaks out on August 8, the market will have negative effects such as "oil surge" and "cars are not easy to sell". Grain and oil trade.

From this point of view, early August may be the time to reach an agreement.

But before that, Lin Zuhui still intends to take the initiative and not give competitors an opportunity.

From the current point of view, it is impossible for CITIC to have the strength to join this acquisition within half a year, especially since the stock price will plummet in August; therefore, in fact, they have only one enemy - the Beiyi consortium (Zheng Yutong, Lin Xiufeng, Xu Zhantang).

After a brief discussion with Liang Botao and Liang Zhenxun, Lin Zuhui said with a smile: "Hengchang Enterprise is indeed rich in assets. New Times Group is willing to raise the price again to 330 Hong Kong dollars per share for a comprehensive acquisition, involving a capital of 69.3 billion."

There is still a discount of 60 Hong Kong dollars per share. The reason is actually very simple. The valuation of those properties is somewhat watery, let alone the valuation of the retail network.

He Shanheng said: "The price has shrunk too much, and our valuation is very reasonable. Moreover, there is now a consortium joining in the acquisition of Hengchang Enterprises. Mr. Lin should understand that the highest price wins!"

Liang Botao immediately said: "If I'm not wrong, the other consortium is a consortium composed of Chow Tai Fook and Bai Shun Ning! He Sheng, according to what I heard from HSBC, this time their acquisition is HSBC as the lending bank. HSBC has one condition, which is to spin off Hengchang Enterprises, sell a batch of properties and repay part of the loan first. The remaining assets will be divided into three parties. It is not difficult to imagine that one will get the property, the other will get the car agency, and the other will get the grain and oil. trading!"

As soon as Liang Botao finished speaking, the faces of He Shanheng and the others changed drastically, and they didn't hide it at all, which shows that they were shocked.It can be said that they are very concerned about this method of dismantling the eight parts. Anyone who sees the country that has been worked so hard to be torn apart will definitely feel uncomfortable.

After a long time, He Shanheng and others finally calmed down. They didn't doubt the truth of Liang Botao's words, because after thinking about it, it was very reasonable; Beiyi's three consortiums had no basis for cooperation in the first place, and they were just formed temporarily.

He Shanheng finally said: "Your price is still lower than the company's net worth, I hope you can offer a higher price!"

Lin Zuhui insisted: "This price is already our highest quotation. The acquisition of a company needs to bear risks, and the valuation price fluctuates even more. We have great advantages in terms of price and disposal of Hengchang enterprises. I Believe me, the three of you seniors can see this!"

He knew that Hengchang Enterprise was still preparing for dividends, so he probably wouldn't agree now, and he was also waiting for the beginning of August.

Then, everyone tested each other again, but in the end they failed to reach an agreement, but they all reserved the possibility of continuing the negotiation.

Lin Zuhui is still very confident. Liang Botao said that Bei Yi is no longer an opponent, nor is she an opponent;

If it happened last year, which affected the trade, He Shanheng had a plan to withdraw from Hengchang; then the "oil incident" in early August was to strengthen his determination to withdraw.

Lin Zuhui is full of confidence!

What's more, he still has a bargaining chip, which he can use when the time is right.

on the way back.

Liang Botao said: "Looking at the appearance of He Shanheng and others, it seems that they are not in a hurry to sell, so they are not tempted when we quote such a sincere price! Moreover, they don't mention the cash in the account at all. It seems that they plan to distribute dividends and so on. of."

Lin Zuhui said inscrutablely: "So, we don't need to rush, just wait!"

Liang Botao nodded and said, "That's right! Zheng and the others are nothing to worry about. Only New Times Group can swallow up Hengchang Enterprises in Xiangjiang. This is the largest asset transaction in Xiangjiang's history!"

Once this transaction is concluded, it will indeed be the largest transaction in Xiangjiang's history.

"Wait for August, don't be too enthusiastic in July!"

……

Early December.

Giordano's leisure fashion was successfully listed, raising 2.5 million yuan, which added another two points to the strength of the LEIT Group.

In the meeting room of the LEIT Group, a group of senior executives and sub-brand presidents attended the meeting.At this time, the LEIT Group is the well-deserved overlord of Xiangjiang in the fields of clothing brands and ready-to-wear manufacturing.

From the very beginning, the group built on the basis of "crocodile shirt" and IT fashion retail has added new members one after another; each sub-brand has given birth to new vitality under the management of the group; and the strength of the group has grown day by day due to the addition of sub-brands .

No wonder the previous LVMH Group, through this model, not only rejuvenated some already declining luxury goods, but also became bigger and bigger.

To put it simply, LEIT Group has a large number of designer resources, sales channels, and advertising resources. Once a new brand joins, the group will send designers and managers to increase its strength, and soon the new brand will become more dynamic.

Take Giordano as an example. When Giordano first took over, the prospect was not optimistic. As soon as LEIT Group took over, it immediately re-positioned, dispatched designers and management teams, and then began to explode in the market.The valuation has gone from [-] million when it was taken over to more than one billion when it was listed.

In the meeting room, Lin Zuhui said: "Nowadays, the LEIT Group already has many potential brands, so the next step is to expand the sales network. The mainland, Hong Kong, Macao, Taiwan, South Korea, Japan, Singapore, the Philippines, Malaysia, Myanmar, Thailand, Vietnam , Australia, New Zealand, the Middle East and Europe, etc., are our next development channels.”

Crocodile shirts, Jeanswest, and Giordano are international brands in themselves, and it was the same in previous lives. In this life, we must have the awareness of expanding our territory.

Hong Kong's clothing brands are by no means less internationally competitive than mainland clothing brands, because Xiangjiang itself is a place where Chinese and Western cultures meet, with low taxes and convenient import and export.

Therefore, Lin Zuhui feels that he should polish three clothing brands and one clothing retail brand (IT Group) to expand overseas sales channels.

President Chen Shiwen took the lead in expressing his opinion, saying: "Crocodile shirts have retail markets in more than 30 countries. JeansWest and Giordano also have sales networks in many overseas countries and cities. It can be said that the foundation has been laid, and the next step is "crocodile shirts". Like the one billion plan (unspent), massively increase the retail network of new markets..."

The "billion plan" formulated by Lin Zuhui was still very effective. When he took over the crocodile shirt, the annual net profit was only 1 million; now the annual net profit of the crocodile shirt can reach 3 million, and it is still rising.The billion that year was spent not only on crocodile shirts, but also on investment in factories, new brand investment and acquisitions.

Everyone expressed their opinions one after another, offering suggestions for overseas expansion, and the general program was determined in this way.

The overseas expansion of Jeanswest and Giordano adopts somewhat different strategies:

Jeanswest's brand positioning is "fast sales", does not support franchise stores, and adopts oil stain tactics to expand;

The Giordano brand is positioned as a mid-end casual fashion, and operates through specialized stores, allowing local partners to join the specialized stores, but it has to adopt a unified management method.

Then, Lin Zuhui said: "Except for Japan, when we develop overseas, we try to buy stores as much as possible for long-term investment."

At this time, the real estate in Europe, America, Australia and other regions is at a low point, which is very suitable for bottom hunting; while the real estate in South Korea, Singapore, and Southeast Asia is a good time to start the rising period, and it is also very suitable for investment.

If you learn from McDonald's, LEIT Group will also become a 'real estate company' in the future.

LEIT Group has a dedicated property management department, and Guo Ansheng, the person in charge, immediately said: "Okay, I will cooperate with this plan!"

Lin Zuhui nodded!

Finally, Lin Zuhui said: "The company will set up another brand, which is responsible for the culture of 'Hong Kong culture revitalizes Hong Kong'. Let me tell you briefly that the design of this clothing lies in fashion and Hong Kong style... For example, a pair of jeans can be designed as Slim fit, small feet, seven-point, five-point, three-point, ripped...a shirt can be designed as floral or bow tie...a T-shirt can be designed as printed letters, printed idols ...'Hong Kong Stream Culture Prospers Hong Kong' is a concept I put forward, and it is an 'idol economy chain' for the whole industry..."

Everyone was fascinated by what they heard. Lin Zuhui's understanding of fashion design alone had shocked everyone.

In the end, everyone decided to set up a clothing brand to meet the general policy of 'prospering Hong Kong with culture and culture'.

It's not that Lin Zuhui thought the Hallyu in his previous life was so good, but he thinks it's an economy, and the Hong Kong Wave culture will not completely copy the Hallyu culture. To put it bluntly, it is a kind of idol economy and culture.

After the meeting, Lin Zuhui left behind Chen Shiwen, the president, and Lu Aijia, the president of the underwear brand 'Da Nei Secret Detective'.

"Da Nei Jing Tan has developed very well in this region in the past two years, and has absorbed a lot of experience in making underwear brands!" Lin Zuhui said.

Ouchi Secret Agent is indeed developing well in Asia. It has a total of 16 stores, and its annual profit is about 1200 million, and it is still growing.

However, Lin Zuhui is still thinking about this "big secret catwalk show". In his previous life, he liked to watch any kind of show, like being Miao Renfeng and Jingdong cat.

Lu Aijia said: "Secret Agents still have great potential. Although Taiwan and Hong Kong have strong opponents, we will continue to work hard!"

There are indeed a few good underwear brands in Taiwan, and there are one or two in Hong Kong, but this thing lacks a gimmick, otherwise it will be difficult to stand out.

Lin Zuhui nodded, and said: "I plan to let the secret agent go to Europe to develop, and position it as a high-end underwear brand! When I was investigating in the UK some time ago, I saw that the newspaper selected Vivian Weiss as the best designer of the year in the UK." Twood!"

They are all from the clothing industry, and Lu Aijia and Chen Shiwen naturally know it too.

Lu Aijia said: "Well, she is one of the best fashion designers in Britain!"

Lin Zuhui said: "I asked someone to inquire and found out that she has a son named Benjamin. We will cooperate with Benjamin and his wife to create a secret agent in the UK, and then create an annual 'Secret Show'. The specific method of operation is this... In this way, it is easy to use the gimmick of the big secret catwalk to create a global brand. As long as the secret agent in the UK becomes popular, it will naturally also drive the secret agent in Hong Kong."

The two understood that what the boss meant was to use the famous British designer's brand name, and then use the "big secret catwalk" to complete the worldwide layout of the Ouchi spy.

Chen Shiwen immediately asked, "How are the shares calculated?"

Lin Zuhui said: "We can cooperate on a five-to-five basis, let Benjamin be the president, and we will participate in the management! The secret agents registered in the UK are only sold to Europe and the Americas. If you are not willing to cooperate, we will do it, regardless of whether Europe and the United States will accept our proposal." Brands, we all have to try.”

In the final analysis, the Chinese still cannot conquer the aesthetics of Europeans and Americans, so they simply cooperated to achieve Lin Zuhui's idea.

Of course, it is also possible to directly acquire a European and American underwear brand, but it is obviously still possible to fail.

After a little discussion, Lu Aijia was responsible for doing this, and success or failure was an attempt.With the scale of the LEIT Group today, it doesn't matter if you try and fail.

And Lin Zuhui had indeed asked someone about it. Benjamin just worked with his mother, and it would be more fun to set up his own brand there.

Vivienne Westwood was called the "Queen of the West" by mainland netizens in her previous life. Lin Zuhui also read her news; it also influenced her son Benjamin, and later established an underwear brand store.

Based on this, there is the possibility of cooperation.

Chapter 361 [Successful Acquisition]

Time flies, and it is August in a blink of an eye.

Thursday, May 8.

Early this morning, Iraq brazenly invaded Kuwait.

In the morning, Hong Kong has already received the news, and keen investors have already felt the feeling of "the rain is coming".

In the morning, Lin Zuhui came to New Era Group, and he seemed to be in a very good mood.

Hengjin Investment bought a total of 12 billion Hong Kong dollars in crude oil futures, with an average price of 16.5 US dollars per barrel, and did not encounter any dangers during the period.

New Times Group also bought 3.5 million Hong Kong dollars in crude oil futures, with an average price of 17 U.S. dollars per barrel.

Everything is ready, the only thing he owes is Dongfeng, and today the Dongfeng just came, so his mood is naturally very beautiful.

The impact of the 'Iraq's invasion of Kuwait' event is manifold.

In Hong Kong, Lin Zuhui knew that the stock market would plummet by 20%, and that real estate "should have fallen but not fallen".

The stock market closed at 3580 points yesterday. Based on the 20% drop, at 2900 points, you can buy the bottom.

The reason why real estate "should have fallen but not fallen" is very simple. He remembers that it was because Hong Kong followed the United States to cut interest rates twice, and the government introduced the "Civil Servant Home Purchase Plan".Two interest rate cuts will lead to the influx of funds into real estate and the stock market, so this time the stock market will soon restart its upward channel.

In other words, Xiangjiang will usher in a seven-year explosion in the economy, real estate, and the stock market.

The news of 'Iraq's invasion of Kuwait' has not been published in the morning newspapers, because even if the newspapers get the news, it is only five or six o'clock in the morning.

Soon, Liang Zhenxun came to Lin Zuhui's office.

"Boss, did you get the news that Iraq invaded Kuwait?" Liang Zhenxun was a little excited and had an admiring expression.

Lin Zuhui said with a smile: "Of course I got the news, don't pay too much attention to it. Crude oil will skyrocket in the next few months. The crude oil futures we invest in are waiting to collect money. Hong Kong's real estate will not fall. There is no room for it to fall. We There is no need to worry."

Liang Zhenxun couldn't help sighing that his boss is really the company's pinnacle of stability. Such a big event may cause various complicated changes in the situation. After he said it, his mood did not calm down.

"Well, yes! However, Hengchang Enterprises should have also received news that the oil price will skyrocket next, and their car sales will definitely be affected."

Lin Zuhui said with a smile: "This is the opportunity we've been waiting for, otherwise how could He Shanheng make up his mind to sell it! Next week, we have to settle Hengchang Enterprise. I have many plans, and I'm waiting for it!"

Liang Zhenxun immediately knew that the boss's acquisition of Hengchang Enterprise was not only because of the current achievements of Hengchang Enterprise, but also because he planned to rely on Hengchang Enterprise for great development.This is also the consistent style of my own boss. The acquired companies will be rejuvenated and even expanded several times soon.

"Okay, I'm ready!"

After Liang Zhenxun left, Chen Bin came to his office again.

After he finished reporting his work, Lin Zuhui said: "In the next period of time, the rights and interests of land exchange will become an existence that no one cares about. Our company can take them all. When the Hong Kong government approves the land, we will also strive for more at this time. Take some."

Chen Bin nodded seriously, and said, "Okay, our company has sufficient funds, so we just continue to buy the bottom."

Behavior against the market is Lin Zuhui's forte.

In this regard, Sun Hung Kai and Henderson are also inferior, and they are always one step behind.

At the end of 90, Xiangjiang's real estate development projects had been concentrated in the hands of eight large real estate companies;

These eight real estate companies and four real estate companies account for 70% of the residential unit supply in Hong Kong.

The four major residential development developers are: New Times Group, Sun Hung Kai, Henderson, and Cheung Kong.

The rest of the real estate companies, including New World Development and Hang Lung Properties, have fallen far behind these four real estate companies because they do not have enough land reserves.New World Development focused on hotels and rent collection, while Hang Lung Properties favored asset restructuring, and both missed the good opportunity to reserve land.

Other large real estate companies, such as Wharf Group, Swire Group, and Hongkong Land, have high asset values, but they all rely on investment properties (rent collection), and hardly develop residential projects.

A monopoly has been formed!

……

The next day.

In the past month, Hengchang Enterprises has distributed large cash dividends (over 8 million yuan), which can not only appease small shareholders, but also reduce the attractiveness of being acquired; the most clever move, Dachang (Hengchang is a holding company) ) even used 1.5 million Hong Kong dollars in cash to distribute pensions in advance to 320 senior employees who worked before July 1984. On the one hand, it was to take care of the old guys, and on the other hand, it was obviously to reduce the amount of cash held.

Lin Zuhui's heart is bleeding, but he knows whoever it is will reduce the amount of cash held before the company is at risk of being acquired.

And from this point of view, Hengchang Enterprise should still have a lot of cash, so Lin Zuhui decided to take action immediately.

On Friday night, he personally visited He Shanheng's home.

Although the two were not very close, He Shanheng would not refuse Lin Zuhui's identity.

He's private residence.

Lin Zuhui was carrying a gift, but He Shanheng greeted him personally.

"Lin Sheng is too polite. When you come to my mansion, you are already in full bloom. How can you still get a gift!" He Shanheng said with a smile.