Hong Kong's new giants

Chapter 521 [Troublesome Autumn]

Tsuen Wan.

Lin Zuhui brought Guan Jiahui and his two sons to Citywalk Shopping Center to experience his own retail real estate.

In this area (the old wharf in Tsuen Wan), New Times Group has four major projects, namely two shopping centers: Citywalk, Tsuen Wan Plaza; two large residential estates: Tsuen City Place, Love of the Sea, with a total of 6600 residential unit.

Citywalk Shopping Center, with an area of ​​60 square feet, is the largest shopping mall currently in operation in Tsuen Wan. After its official opening in 1992, it has attracted frequent visits from the entire Tsuen Wan community.

Tsuen Wan Plaza, which is under construction, is even bigger. It consists of two skyscrapers with an 88-story building and a 42-story building, as well as a large shopping mall. The total rentable area is 260 million square feet, including shopping The center is 38 square feet.

When the project was initially approved, many people did not understand why Lin Zuhui wanted to build two shopping centers next to each other at the same time; of course, they do not understand now.

Perhaps only some people understand that if the New Times Group does not occupy the best location in Tsuen Wan, then other real estate developers will also come to seize the commercial real estate in Tsuen Wan.

Instead of falling into competition with other companies, it is better to compete with its own two shopping centers.

Of course, the two shopping centers are slightly different: Citywalk’s proportion of luxury brands is definitely not as high as that of Tsuen Wan Plaza; the top floor of Citywalk is children’s recreational facilities, while the top floor of Tsuen Wan Plaza is a garden-like landscape displaying trees. fossil.

The entire Tsuen Wan old wharf project will be completed and put into use in early 1997; at that time, it will be the peak of Xiangjiang real estate, and there will be no worries about leasing and rent.

"Baba, I'm going to the playground!" Lin Wenhua said as soon as he arrived at Citywalk.He is active by nature and has a detached personality. Fortunately, he is smart and has good learning ability.

Lin Zuhui nodded, and then a bodyguard took him and his younger brother to the playground, leaving Lin Zuhui and Guan Jiahui to go shopping.

In Xiangjiang, some large shopping malls have children's playgrounds, where adults can leave their children to play and go shopping without worry; the top-floor playground at Citywalk is just such a function, and is very popular among citizens.

Building a shopping center (retail commercial real estate) is by no means simply renting and collecting rent, but a profound knowledge; starting from the establishment of the entire shopping center project, it needs to be unique in architectural design, rich in heritage and culture; subsequent leasing, Management is also a science.

In the retail field of Xiangjiang, you are not afraid of selling high prices, but you are afraid of lowering prices; there are very few incidents of customer slaughter, and even if there are, the victims are overseas tourists, especially mainland tourists who have weak legal awareness.

Slaughtering customers is not the right way to do business. Heung Kong has the Consumer Council and the media. Once they are caught by them, the reputation of the store will be ruined. The Consumer Council can replace customers and claim compensation. media exposure.

Generally speaking, there are very few incidents of slaughtering customers, and the business environment is among the best in the world.

Another advantage of Heung Kong Retail is the service attitude of the store. No matter whether you buy or not, the store will greet you with a smile.

Of course, based on Lin Zuhui's experience of living in Hong Kong for nine years, he would feel: "This is how business should be done!"

But there is one area in Xiangjiang where the service is really worrying, and that is some small restaurants; and those restaurants that have a good business and have been passed down from their ancestors, the owners have a bad temper.Maybe in their view, the old store is the taste, no service is needed.

Guan Jiahui held Lin Zuhui's arm and enjoyed the way passers-by looked at her. She thought that everyone who looked at her envied her.

But Lin Zuhui didn't care about these details. Although he was going shopping and eating with his wife and children, he was investigating Citywalk.

Retail commercial real estate is a profound knowledge, and New Era Group's current achievements are not enough to be proud of.Several central plazas in the mainland will be opened one after another in the millennium. Will they be able to achieve the expected success?Especially the central plaza in Sanlitun, where art and fashion are integrated for the first time (because it is a low-density shopping mall), will it achieve good results?

"You often come here with your children?" Lin Zuhui asked curiously.Lin Wenhua's performance just now seemed to be very familiar with this place.

"Come here occasionally, Wen Hua likes this place, saying that there is a big playground and musical fountain here, so I will bring him here once or twice a month." Guan Jiahui said with a happy expression.

The two sons are her talisman and future support, and it is easy to show happiness when talking about it.

Lin Zuhui nodded. Citywalk's music fountain is also a must. Every time it starts, a large number of people watch it. It is the largest music fountain in Hong Kong.

"There aren't many brands you need to buy here, are there?" He continued to cliché from customers.

Guan Jiahui said naturally: "No! Compared with the shopping malls in Central, Causeway Bay, and Tsim Sha Tsui, the overall quality of this place is indeed a little lower, but the advantage lies in the large number of luxury goods. It can be said that it is a high-end gathering place. The nearby residents have given good reviews to this place!”

After finishing speaking, Guan Jiahui realized that something was wrong, and quickly tightened Lin Zuhui's arm, adding: "I don't necessarily have to buy luxury goods, as long as they are beautiful and suitable, I will buy them."

Lin Zuhui said with a smile: "I don't mean it! Apart from wearing IT fashion retail clothes, how can you like other mid-end brands?"

Guan Jiahui said pitifully: "Then I will go to Giordano and Jeanswest next time to see if there is anything suitable for me!"

It was only then that she discovered that Lin Zuhui was wearing Giordano's casual clothes today, but for some reason, this low-end casual brand, worn by her man, felt like a luxury.

"Thinking about what I mean, Wen Hua learned exactly the same for you, what a ghost!" Lin Zuhui said angrily.

"No way, he didn't learn from me. He was originally as smart as you, but he just likes to play a little bit!" Guan Jiahui hurriedly explained.

"Understood, I'm an old couple, why are you so petty? I don't know you yet, I like famous brands, when did I tell you about you!" Lin Zuhui comforted.

"Hee hee, it means that the charm of my man has not diminished in the past. I am nervous about you!" Guan Jiahui was almost hanging on Lin Zuhui's arm, looking at Lin Zuhui and said coquettishly.

Lin Zuhui was quite happy in his heart, but he didn't show it, acting like it was a matter of course.

Next, Lin Zuhui accompanied Guan Jiahui to shop, and found that she really only shopped in high-end brands and luxury brands, and was not very interested in other brands.Of course, Lin Zuhui is not interested, except for his own brand.

He doesn't really want to wear his own brand, but wants to find out what can be improved through his own experience and wearing.

Of course, he didn't need any expensive clothes to enhance himself, so he was very casual in this regard.

Going shopping, shopping, dining, and playing, Lin Zuhui also rated his own shopping center, and the experience was very good.

1993 was an eventful year for Heung Kong Media.

For example, in June, Malaysian mysterious tycoon Guo Huonian bought a 27% stake in the English-language daily "South China Morning Post" from Murdoch at a sky-high price of 35 billion.

The "South China Morning Post" is equivalent to Xiangjiang's official media. Its sales volume is only about 10 copies, but its advertising costs are twice that of the Chinese version.

But the premium is so high, I believe there is another layer of ZZ involved in it. As the London government is about to withdraw from Xiangjiang, some commenters say that this is transferring the right to speak of public opinion.Of course, this right to speak out in public opinion has nothing to do with the mainland officials, it is just handed over to the Chinese.

After Guo Huonian took over the "South China Morning Post" (not just a newspaper, but a newspaper group), the editorial department of the "South China Morning Post" was very popular. The more than 40 key members of the South China Morning Post, many of whom are foreign editors, are a valuable resource.

The president of the "South China Morning Post" turned pale with fright, and hurriedly raised all salaries by [-]%, finally stabilizing the company.

Ma Chengkun is very proud. In recent years, although the Oriental Press Group has been listed as the second best-selling daily in Hong Kong, it is behind the "Daily Daily" in the popular newspaper "Oriental Daily".However, the gossip magazine "Oriental Xindi" has long surpassed "Ming Pao Weekly", ranking among the top three gossip magazines in Hong Kong; and now, Oriental Press has announced that it will spend a huge sum of 8000 million Hong Kong dollars to organize the English newspaper "Orient Express". Confront Guo's South China Morning Post.

Just when Ma Chengkun was complacent, his backyard caught fire, and Ye Yijian, the leader of his second gossip magazine "East Weekly", which imitated "Next Magazine" and "Apple Weekly", was killed by the fat man of "Apple Weekly". Poach away.

Ma Chengkun said in the media that "Eastern Weekly" has become regular, and the impact will not be great; editorial talents for English newspapers are hard to buy. He comforted himself with the words, "If you go for a treasure, you will get a string of beads."

Just when everyone thought the matter had come to an end, in mid-September, another big news broke out in the media circles. Lei Weipo of Ming Pao Weekly led a group of people and joined Oriental Newspaper, filling Ye Yijian's position. Ma Chengkun took a fancy to "East Weekly".

"Oriental Express" is a traditional gossip weekly, and its benchmark is "Mingpao Weekly"; while "East Weekly" is a gossip weekly model that appeared in the 90s, with a wide variety of information, not limited to gossip entertainment, comprehensive coverage of eating, drinking and entertainment leisure magazine.

Lei Weipo brought people to change jobs, which undoubtedly caused a huge disturbance in Xiangjiang. There are two reasons:

First, Ming Pao Group now belongs to Wanhui Media, and behind Wanhui Media is Xiangjiang's "Chinese President D". Ma Chengkun dares to stroke his beard, which makes people admire his bravery; It is a person with outstanding status, so naturally he will not use shady means at a lower price, this is everyone's understanding.

Second, Lei Weipo is the patriarch of gossip news, and this time it is even rumored that he joined "Eastern Weekly" with a salary close to [-] million yuan, setting a record for the highest salary in the media.

Generally speaking, those who are troubled are still happy to hear and see—how will Wanhui Media respond, will Lin Zuhui interfere in such a "small matter"?

In fact, Wanhui Media reacted very quickly, and it surprised many people—Wanhui Media announced the suspension of publication of the gossip magazine "Fresh", Ming Pao Group announced the suspension of publication of "Ming Pao Weekly", and the group no longer dabbled in gossip weekly; and the original team , have joined the entertainment news department of its other publications.

For a moment, people couldn't react!

Isn't it just poaching a few people, no matter what, it is still operating normally, and "Ming Pao Weekly" and "Fresh Weekly" are both profitable magazines, so they will stop if they stop!

Of course, a critic soon published an article: "The comic industry of Wanhui Media has already moved to Asia, and its annual net profit has surpassed that of the paper media; in addition, the identity of the boss behind it is itself not suitable for a gossip magazine. Now It is also logical to decisively suspend publication.”

Those who watch the excitement understand that Wanhui Media is already so strong, with a net profit of more than 10 billion last year, and the comics industry accounted for more than 50%, and they really look down on the gossip industry.

Lin Zuhuigui is No. 1 in Xiangjiang business, and he is the boss of nearly half of the artists in Xiangjiang. It is undoubtedly not very good to dig out the privacy of these artists.

Of course, although Wanhui Media no longer has gossip magazines, other daily newspapers and magazines still have entertainment news pages, and it is still possible to promote their artists.

Wanhui Media.

Zhao Han, the director and chief financial officer, is sitting on the sofa in Lin Zuhui's office, reporting work seriously.

In Wanhui Media's account, the lying cash flow has already reached as high as 16.5 billion Hong Kong dollars, and the stock price will not skyrocket if it is disclosed.

And by the end of the year, there is no problem with cash flow exceeding 20 billion.

After thinking about it, he asked: "Starting from December, we will gradually cash out the office buildings invested by the company, and strive to complete it in two to three months."

Zhao Han was shocked, and immediately said: "Okay, I will definitely arrange it!"

After the sharp fall in 10, Wanhui Media bought 20 billion office buildings as investment (the loan part has been paid off). The current market value is about 100 billion Hong Kong dollars, an increase of 200%. Compared with the increase of more than 25% in residential buildings, it is still worse. A lot, but fortunately, the rate of return is more than [-]% (when rent and interest are considered).

In this way, there will be 40 billion in cash next year. If it is disclosed, the stock will not be able to run towards more than 300 billion (in fact, it will reach 300 billion by the end of the year without disclosure)!

Of course, with so much money, it will definitely not be all dividends. Although Lin Zuhui holds 49.5% of the shares; however, Wanhui Media needs to develop, and is currently preparing for the game company - The Ninth City, and will soon start the "One Piece" project , but also to invest in a software company in Hong Kong and other projects.

Therefore, Lin Zuhui plans to distribute 20 billion in dividends, and reserve 20 billion for investment and cash reserves.

In fact, in recent years, although Wanhui Media's performance has been outstanding, because it has been investing, it has paid little dividends. As a result, the stock price is currently only in the early 200 billion, and it is barely squeezed into the ranks of blue-chip stocks.

Although he withdrew from the gossip market this time, Lin Zuhui still didn't worry about it. After all, he still controlled the largest communication and media company in Xiangjiang, and it was far from being provocative.

What's more, Wanhui Media has a secret game - that is, it holds 34.5% of the listed company of Zheng Jinghan, and Zheng Jinghan's "Next Magazine" is the No. [-] gossip weekly in Hong Kong. Recently, under the suggestion of Long Jingchang , preparing to publish a gossip-like daily.

Anyway, Zheng Jinghan will not come out, and Fat Li will also prepare a gossip daily in the next year or two, so it is better to let Zheng Jinghan take the lead.

Of course, with Lin Zuhui's current status, few newspapers would dare to stroke his beard—to publish his vicious gossip news; he just didn't want Fat Li to have too much influence in the media, that's all.

In fact, Fat Li didn't dare to provoke Lin Zuhui anymore. After all, when he robbed Giordano, Lin Zuhui used too many methods. The important thing is that Lin Zuhui doesn't behave like the older generation of tycoons.

(End of this chapter)