We're building a super chaebol in Hong Kong

Su Cheng's acquisition of Hongkong Land, along with his covert purchases of land and properties, did not improve the real estate market in Hong Kong.

Many British-funded entities, due to someone's fall, completely lost confidence in Hong Kong, fearing that if they didn't run fast enough, they would lose even their underwear.

Therefore, many British individuals holding numerous properties and land were constantly selling off their fixed assets in Hong Kong, trying every possible means to escape Hong Kong as quickly as possible.

It wasn't just the British; other foreigners in Hong Kong, as well as some local Hong Kong residents, had similar thoughts.

Thus, from 1983 to 1984, Hong Kong experienced a wave of emigration, with many people selling their assets at low prices to emigrate to Britain, Singapore, the United States, Canada, and other places.

Su Cheng couldn't possibly miss such a good opportunity.

He knew the future development of Hong Kong like the back of his hand; this real estate crisis would only last until December of the following year.

Admittedly, this strategy effectively helped Wheelock and Company avoid the direct impact of the industry crisis before the real estate market bubble appeared, as it had successfully sold off a large number of properties at the market's peak, ensuring relative financial stability.

However, behind this seemingly wise transformation, the challenges of the shipping business far exceeded expectations, bringing heavy blows to the group.

The volatility and uncertainty of the freight market, coupled with the complex and ever-changing global economic environment, caused Wheelock and Company to encounter unprecedented difficulties in this new battlefield.

The large investment in bulk carriers failed to bring the expected stable returns, and instead, due to market imbalances and sharp drops in freight rates, it fell into operational difficulties, forcing the group to bear huge operating costs and financial losses.

The root of this strategic deployment stemmed from John Marden's cautious consideration and lack of confidence in the future development prospects of Hong Kong, which led to the strategic transfer of assets, aiming to let Wheelock and Company's core assets "set sail" and rely on the broader ocean.

In this process, Wheelock and Company unexpectedly played an important role in the asset restructuring of World-Wide Shipping Group, taking over a large number of World-Wide Shipping Group's ships, not only rapidly expanding its own fleet size through mergers and acquisitions, but also actively ordering new ships to accelerate expansion.

However, this series of aggressive operations quietly planted hidden dangers, leading to an increasingly heavy debt burden and a sharp decline in profitability for Wheelock Marine.

Entering the 1980s, with the adjustment of the global economic structure and changes in the international trade pattern, the world shipping industry gradually entered a recession cycle, and this industry-wide dilemma inevitably affected Wheelock and Company.

In this context, Wheelock and Company suffered greatly, facing unprecedented challenges and pressures.

In contrast, Bao Yue-kong, the "Shipping King," demonstrated extraordinary wisdom and foresight, taking a completely opposite development path from John Marden, steadily transferring the Bao family's assets from the turbulent sea to solid land.

This strategic adjustment not only allowed him to successfully seize control of Wharf, a commercial giant, but also gradually reduced the fleet size and deadweight tonnage of World-Wide Shipping Group, thereby effectively avoiding the risks that the shipping industry might encounter in the future.

Looking back now, Bao Yue-kong's decision that year was undoubtedly a highlight of his career. This forward-looking layout allowed him to cleverly avoid the shipping storm that plunged many shipping companies into financial quagmire.

Relying on the solid platform of Wharf, the Bao family quickly rose to become a significant force in the real estate, hotel, and warehousing industries.

Although the real estate industry also encountered fluctuations and challenges, Wharf's unique operating model—focusing on developing its own land and avoiding blindly following the trend of speculating on properties at high prices—effectively reduced its losses.

It is especially worth mentioning that Wharf's real estate business has always adhered to the rental-based core profit model. The continuous and stable income from high-quality properties such as Harbour City has brought a steady stream of cash flow and generous returns to the Bao family.

This stable and lasting revenue model is undoubtedly the best footnote to Bao Yue-kong's investment wisdom and strategic vision.

In comparison, John Marden's decision-making effectiveness was obviously much inferior.

Looking back to 1981, when Su Cheng had just taken over the helm of Wheelock and Company, that year, Wheelock and Company, with its strong profitability, had a pre-tax profit of HK$1.431 billion, a figure sufficient to rank among the top 20 in Hong Kong's business community, including well-known enterprises under Su Cheng's command.

If it weren't for such a fiercely competitive environment, Wheelock and Company might even have been expected to enter the top ten.

However, the good times did not last long. As the global shipping industry entered the abyss of recession, Wheelock and Company's profitability deteriorated sharply.

Last year, its pre-tax profit had shrunk to less than HK$1 billion, and this year it is expected to further shrink to a dismal level of HK$300 to 400 million.

Although it can still maintain profitability, this year-on-year downward trend clearly reveals the reality that the group has been losing money in recent years.

If this trend continues, Wheelock and Company may face a more severe financial crisis next year, with heavy debts, and may even trigger a liquidation alarm.

At that time, Wheelock Marine will have to reluctantly part with its hard-earned fleet assets and sell them off cheaply in exchange for cash flow. This scene is undoubtedly a direct consequence of John Marden's strategic mistakes.

Therefore, it can be said that John Marden is largely to blame for the current predicament of Wheelock and Company.

On the morning of July 3, 1983, Su Cheng received a call from John Marden, whose tone sounded exhausted.

"Mr. Su, our Wheelock and Company will hold a board meeting at ten o'clock tomorrow morning. Please be sure to attend on time," John Marden said with a wry smile.

"Okay, Mr. Marden, I will be there on time. What is the purpose of this board meeting?" Su Cheng asked.

"This board meeting was not initiated by me, but by Mr. Zhang Yulong. I am only responsible for the notification," John Marden replied.

"Um, I see, Mr. Marden, see you tomorrow," Su Cheng replied.

"See you tomorrow!"

After hanging up the phone, Su Cheng couldn't help but feel a little surprised, never expecting that the convener of this board meeting would be Zhang Yulong.

Before Su Cheng officially became the largest shareholder of Wheelock and Company, Zhang Yulong had always been the major behind-the-scenes shareholder of the group, but he had always maintained a detached attitude and never been involved in the group's specific management affairs.

John Marden, with a large number of B shares in hand, even though his shareholding ratio is not as high as Zhang Yulong's, is able to稳sit firmly on the chairmanship of the Wheelock Group's board of directors because the Zhang family has no intention of fighting for power in Wheelock.

When Su Cheng later gradually increased his shareholding and became an important shareholder of Wheelock, he mainly held A shares, which also limited his direct influence on the controlling stake, making it impossible for him to easily shake the existing power structure.

It is undeniable that although the B-share system is not completely transparent and open, it does demonstrate its unique value in maintaining the stability of the controlling stake.

This may also be an important reason why the Wheelock Group has been able to remain relatively calm and has not become the target of public criticism in recent years, despite the frequent occurrence of acquisition battles.

However, Su Cheng is an exception.

He understands the historical context of Wheelock, and he also knows the inevitable trend that John Marden will eventually fade out of the group's stage.

It is based on this forward-looking judgment that Su Cheng has made advance plans and carefully planned to control this behemoth sooner or later.

Speaking of Zhang Yulong, he actually has some connection with Su Cheng.

Initially, the International Building and the Federal Building, which Su Cheng acquired, were actually developed by Zhang Yulong.

In 1971, Zhang Yulong controlled a Federal Real Estate Co., Ltd., which was eventually acquired by Wheelock, but Zhang Yulong also became a major shareholder of the Wheelock Group as a result.

Although Zhang Yulong does not interfere in affairs, he畢竟畢掌握畢 a large number of Wheelock shares, and he must also be concerned about the company's operating conditions. Now that Wheelock's profits have plummeted, this involves the interests of the Zhang family.

Su Cheng quickly figured out the cause and effect.

Although Zhang Yulong is no longer the major shareholder of the Wheelock Group, and Su Cheng has become the major shareholder, he is also the second largest shareholder and has the right to convene a board meeting.

Obviously, Zhang Yulong intends to criticize John Marden at the board meeting.

Su Cheng doesn't care about the small amount of dividends he loses each year, but the Zhang family obviously doesn't want to.

Super-rich people like Su Cheng, who are rich and powerful, are the only ones in Hong Kong.

It is said that Zhang Yulong previously went to Australia to start a business because of internal conflicts within the Zhang family. Obviously, he had to return from Australia because of the current operating situation of the Wheelock Group.

The Zhang family has always been very low-key in Hong Kong, because of the sharp decline in Wheelock Group's profits, investment failures, etc., and even had the idea of fading out of the Hong Kong business community and focusing on developing overseas business.

Su Cheng suddenly felt that perhaps he could take this opportunity to acquire Zhang Yulong's shares.

Previously, Su Cheng's idea was to acquire John Marden's shares.

However, acquiring the Zhang family's shares now may allow him to control the Wheelock Group in advance.

In this way, he naturally wouldn't need to care too much about John Marden's shares.

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After hanging up the phone, Su Cheng stopped thinking about the Wheelock Group.

As far as he is concerned, the Wheelock Group is basically impossible to escape.

Whether he buys John Marden's shares or the Zhang family's shares, he can easily control the Wheelock Group.

As for the fact that in another parallel world, Wheelock was eventually taken down by Bao Yugang, it is obvious that this is impossible in this world.

Who can compete with Su Cheng?

At least in Hong Kong, no one can compare with him.

Walking out of the study, looking at the blue sky outside.

Hong Kong in July is very hot, and a heat wave笼罩籠罩 the entire land.

However, the villa is very cool.

The house is equipped with the highest technology products of this era.

In the swimming pool of the villa, several women are playing and嬉鬧嬉鬧, and above the swimming pool, there is a sunshade棚.

Ah Jiao, Ah Mei, Zhong Chuhong, and Guan JiaHui are all there.

Now it's summer vacation, and Guan JiaHui doesn't have to go to school.

Moreover, after September, Guan JiaHui will officially enter her senior year, and she will be able to graduate from the University of Hong Kong after studying for another year.

It is worth mentioning that when real estate was at its highest point in 1981, Su Cheng asked Guan JiaHui, Zhong Chuhong, Ah Jiao, Ah Mei and others to sell the shops and houses they had previously invested in.

The girls were very obedient and chose to sell these properties without hesitation, thereby earning a lot of money.

After all, for these women, Su Cheng is the god in their minds!

For these business matters, just follow Su Cheng's advice, they don't need to think too much.

Relying on their own investments, the assets of Guan JiaHui and Zhong Chuhong even reached tens of millions of Hong Kong dollars.

Afterwards, after Hong Kong fell into a real estate crisis, Su Cheng asked them to buy shops and houses in large quantities when it dropped to almost the lowest point.

Unsurprisingly, the properties they held almost doubled compared to those they held before the real estate crisis~

They naturally made a lot of money from this entry and exit, and they could live well even without relying on Su Cheng.

"Be careful, don't hurt the fetus." Su Cheng walked to the edge of the swimming pool with a smile, and exhorted worriedly.

Zhong Chuhong and Ah Jiao are now in the second trimester and the third trimester of pregnancy, and their bellies are showing.

Especially Ah Jiao, who should be able to give birth in another month.

"Got it!" Zhong Chuhong covered her mouth and smiled.

The two of them were not actually swimming, but sitting on inflatable swimming boats and splashing water at each other, so there was no danger.

And Guan JiaHui and Ah Mei, who were not pregnant, were half-soaked in the water in the swimming pool at this time.

Swimming is indeed comfortable in the hot summer.

At this time, Guan JiaHui mischievously splashed water on Su Cheng.

Suddenly, the casual clothes Su Cheng was wearing were wet.

Su Cheng was not angry, but joined in and嬉鬧嬉鬧 with them.

For a family, the most important thing is harmony and happiness!

In fact, Su Cheng also knows that Guan JiaHui is especially envious of Ah Jiao, Ah Mei, Zhong Chuhong and others, because they all have children with Su Cheng.

But Guan JiaHui doesn't have a child yet, so naturally she hopes that she can become a mother as soon as possible.

However, she also knows that now is not the time.

Otherwise, going to school with a big belly will also have a bad influence.

Although with her current situation, a university degree seems to be useless, and Su Cheng can even let the school graduate her in advance.

But Guan JiaHui insisted on finishing her studies, she didn't want to just go through the motions of going to university.

Su Cheng naturally let her do it.

In the blink of an eye, a day passed.

Today is the time for the Wheelock Group to hold a board meeting.

So, in the morning, accompanied by the women, he read the newspaper while eating breakfast.

He didn't go out until nine o'clock in the morning.

An hour is enough to get to the Wheelock Group headquarters.(End of this chapter)