Rebirth of the Official Business Route

Since the Asian financial crisis broke out in 1997, the property market in Hong Kong has been in a downturn. It is not an exaggeration to say that the avalanche is not an exaggeration. There are many high-rise mansions where property prices have been cut in half. Hong Kong's real estate industry has also suffered a severe setback. With such an active life today, the property market in Hong Kong still does not see signs of recovery, and some media even blame all this on the political issue of reunification.

The property market in Hong Kong has suffered a severe setback, while the economy in the Mainland is stable, and various policies have promoted the rapid rise of the real estate market in the Mainland. Even Hong Kong real estate companies that have suffered a heavy setback but have solid foundations and vitality have turned to central cities in the Mainland to seek breakthroughs. Even Yongsheng Films, British Wang International, the wealthy behind-the-scenes of the entertainment industry in Hong Kong, flocked to the mainland to invest in real estate. Only Jiaxin Real Estate suffered heavy setbacks in the past two or three years when the house leaked. The current market value of Kewang and Classic Betrayal has exceeded HK$1.8 billion, which is even less than one-tenth of what it was in its heyday. Novel chapters are updated the fastest

Even though the market value of most real estate properties in Hong Kong has been halved, the value of commercial real estate under the name of Charles Schwab Real Estate is more than 1.8 billion Hong Kong dollars. It is just that on the eve of the Asian financial crisis, Schwab Real Estate was expanding aggressively in Hong Kong and suffered a heavy setback. During the crisis, the forced launch of two office buildings resulted in losses. A fifty-two-story skyscraper opened on Yongjia Avenue in Central was unfinished due to lack of follow-up capital investment after the structure was capped. Lost money for two years in a row. Fiction novel chapters are updated the fastest

As long as the building on Yongjia Avenue can be successfully completed, Charles Schwab may still have a chance to face the current crisis. After all, Hong Kong’s economy has not been hit so badly. achieve overall profitability. Even if it cannot return to the market value level of the heyday, at least it can return to the market value level of five Hong Kong dollars.

The Yongjia Avenue project needs to invest 12.3 billion Hong Kong dollars in funds to complete the project. However, the Hong Kong property market is currently in a slump, and the goodwill of the major shareholders of Charles Schwab Real Estate, Ge Mingxin and Ge Yinjun, are widely questioned in the Hong Kong financial circle. Which financial institution is willing to provide them with this huge amount of money? Of course, this does not rule out that someone behind the scenes has set up obstacles for Charles Schwab Real Estate.

Unexpectedly, it was Kumho who made the move in the end. It only used 600 million Hong Kong dollars to obtain 30% of the shares of Charles Schwab Real Estate pledged by the Ges and his sons from HSBC Bank. The equity was sold to the real estate, and he also directly held 15% of Jiaxin Real Estate.

Xie Jiannan was quite impressed that HSBC Bank purchased additional corporate bonds and provided Charles Schwab with HK$1.2 billion in funds not for the follow-up project of the Yongjia Avenue project, but for the acquisition of part of Century Kumho Real Estate’s commercial real estate assets in Haizhou. It was unexpected, but he knew in his heart that Kumho and HSBC would definitely have bigger follow-up actions.

On March 12th, Xie Jiannan returned to Hong Kong from Malaysia to investigate the ugliness of the communication market. After Kumho took over, the first shareholder meeting of Charles Schwab Properties has also been held and formally submitted an application for renaming to the Hong Kong Stock Exchange to change the listed company’s name to Century Kumho Properties. Group (Hong Kong) Company officially became a listed company controlled by Century Kumho Real Estate,

But Kumho is more deeply hidden behind the scenes. Sun Shangyi is the chairman of the board of directors of Century Kumho, and Shao Zhigang is the president of the group.

The matter was quite dramatic. Before the Ge family split, Sun Shangyi served as the executive director and vice president of Jiaxin Real Estate. After the Ge family split, Sun Shangyi left Jiaxin Real Estate. Unexpectedly, Sun Shangyi returned to the board of directors on behalf of Kumho Chairman, I don't know how Ge Mingxin, Ge Yinjun and his son feel.

At this time, media follow-up reports on the capital operation behind the scenes of the Jiaxin Real Estate equity transaction gradually surfaced.

The 600 million Hong Kong dollars that Kumho acquired the shares of Charles Schwab Real Estate from HSBC were financed by Hong Kong Guoyu Investment. Kumho just mortgaged this part of the equity to Guoyu Investment.

Guoyu Investment is the main creditor of Charles Schwab Real Estate, and has provided two billion Hong Kong dollars in financing for the Yongjia Avenue project of Charles Schwab Real Estate. The trouble of Charles Schwab Real Estate has also put Guoyu Investment’s HK$2 billion debt in crisis. In addition, Guoyu Investment also holds 6% of the shares of Charles Schwab Real Estate. The complete collapse of Charles Schwab Real Estate is definitely not what Guoyu Investment wants to see situation.

HSBC Bank and Guoyu Investment have been looking for a strong successor for Charles Schwab Real Estate. Kumho will not only take over Charles Schwab Real Estate under the name of Century Kumho Real Estate, but will reorganize it to facilitate the market for real estate in the Mainland. Acquisition of the Yongjia Avenue project will be used as the new headquarters of Kumho Corporation in Hong Kong after the project is completed. It’s just that for the huge sum of HK$3 billion required to acquire the Yongjia project, Wen Guoyu Investment and HSBC will provide financing of HK$2 billion and HK$1 billion respectively; billion Hong Kong dollars.

After reading these financial news, Xie Jiannan just sighed slightly.

Kumho did not spend a penny from the beginning to the end. Kumho Commercial was able to acquire a 52-story skyscraper on Yongjia Avenue as a new headquarters building. Century Kumho Real Estate controlled a Hong Kong listed company to hold 30% of the shares, and Part of the assets were placed in the listed company, and the parent company obtained another 1.2 billion Hong Kong dollars in liquidity.

Hong Kong Guoyu Investment was Kumho’s partner when it backdoored listing from Aida Electronics. The previous cooperation experience was quite pleasant. During the Asian financial crisis, it also reduced a lot of losses by keeping a close eye on Kumho’s operations. This time, Kumho was brought in , mainly to solve their debt crisis of two billion Hong Kong dollars to Charles Schwab Real Estate.

After this capital operation, in fact, Guoyu Investment transferred two billion Hong Kong dollars of creditor's rights from the name of Charles Schwab Real Estate to the name of Kumho Commercial. Besides, after the completion of the Yongjia project, the quality of asset mortgages will be much higher than that of unfinished buildings, and the debt crisis will be resolved smoothly. In order to facilitate this, Guoyu Investment had to provide Kumho with an additional HK$600 million in financing to help it obtain control of the listed company from HSBC.

As an established investment bank in Hong Kong, HSBC has also seen the development of the mainland real estate market in the past two years, but it cannot find suitable partners and media; Find the right partner to help them out. Youcai of HSBC sold the 30% equity pledged by Ge Mingxin and Ge Yinjun to the bank to Kumho at a price slightly higher than the market value. In addition, in the name of purchasing corporate bonds, it also provided HK$1.2 billion to Charles Schwab Real Estate after Kumho took over to acquire part of the commercial real estate assets of Century Kumho Real Estate in Haizhou, and to improve the asset structure of the listed company. It also cooperated with Guoyu Investment Provide Kumho Commercial with three billion Hong Kong dollars to acquire the unfinished project of Yongjia Avenue under the listed company, helping the listed company to relieve the heaviest burden in the past two years.

Schwab Properties changed its name to Century Kumho Properties Group. Once the subsequent restructuring was announced, the stock price rebounded strongly and re-entered the ranks of large companies with a market value of HK$5 billion.

The most painful people in the whole process were probably Ge Mingxin, Ge Yinjun and his son.

The 30% equity of Jiaxin Real Estate was originally property in their name, but it was pledged to HSBC to pay off the debt. After the time limit, they lost the right to dispose of it, and then sold it to HSBC at a low price to Kumho. The equity acquisition funds just offset them. Debts owed to HSBC (HSBC has no obligation to sell them at a good price), after the transfer of the actual control of Charles Schwab Real Estate, especially Kumho Commercial signed agreements with HSBC, Guoyu Investment and listed companies on the Yongjia Avenue project. After the disposal agreement, the market value of the traded stocks tripled in a short period of time, approaching HK$1.8 billion.

It's a pity that all this has nothing to do with Ge Mingxin and Ge Yinjun's father and son. I can imagine Ge Mingxin, Ge Yinjun and his son gnashing their teeth. It's a pity that they are no longer the makers of the rules of the game, but the shopping malls are being swallowed object only.

Before nightfall, Xie Jiannan specially asked the driver to drive him around Repulse Bay. He looked at the deep house compound on the left side of Repulse Bay Avenue. People, with a deserted and lonely appearance, the most valuable asset in the hands of the Ge family is this mansion, which was said to be worth 400 million Hong Kong dollars when the property market in Hong Kong was at its peak. Wenxin Pavilion Update Some time ago, I heard that Ge Mingxin, Ge Yinjun and his son intend to sell this mansion at a low price of 100 million Hong Kong dollars. Fading?

It cannot be said that the Ge family has declined.

Sun Shangyi and Ge Mingjue are both members of the Ge family. Ge Mingde is also a branch of the Ge family. Since Kumho’s core member companies never publish financial information, the outside world can only preliminarily estimate that the total assets under the names of Sun Shangyi, Ge Mingjue and Ge Mingde are over four billion. Hong Kong dollar.

Xie Jiannan is more familiar with Kumho's situation. He knows that Sun Shangyi, Ge Mingjue and his wife, Ge Mingde and others are very important to Kumho's rapid development in recent years. , Ge Mingjue and his wife sold the shares of Charles Schwab Real Estate before the outbreak of the Asian financial crisis and cashed in a huge sum of over one billion Hong Kong dollars. This fund was naturally injected into Kumho—their equity in Kumho Commercial will not be too low. You must know that Kumho’s cash income from two Internet companies, Global Music Online and Global Music Online, has exceeded 1.6 billion US dollars. Leaving aside this extra unconventional income, Kumho’s 1999 sales in consumer electronics and home appliances It is estimated that the total profit scale of fields such as real estate, paper industry, and chain stores can reach 1.6 billion US dollars or even higher. Compared with the usual calculation method of securitization, the market value of the entire Kumho is estimated to be around 30 billion US dollars. To be considered quite conservative.

Even if Sun Shangyi, Ge Mingjue and his wife, Ge Mingde and others have only 10% of the equity in Kumho, the estimated wealth under their names is about 3 billion US dollars, which is also the level of the peak of the Ge family.

The financial media in Hong Kong estimate that the wealth of Sun and others is only 4 billion Hong Kong dollars, which is probably based on the size of Kumho’s net assets. If Sun and others are willing to transfer their rights and interests in Kumho for 4 billion Hong Kong dollars, international investment banks may Going to beat my head over this.

Ge Mingjue is the eldest daughter of the eldest son of the Ge family, and although Sun Shangyi is the son-in-law, he is a member of the Ge family. It can be said that the Ge family has prospered on them, and the other members of the Ge family who have been separated, even if they are no longer rich and powerful, at least they are not down; Only Ge Mingxin, Ge Yinjun and his son were really down and out.

Xie Jiannan asked the driver to stop the car, he got out of the car, stood on the curb and lit a cigarette, looking at the deep blue water in the distance. Speaking of which, he is still the boss of a business with an annual profit of 200 million yuan and a staff of nearly 10,000 people. It's just that this achievement is the same as Yingchong Yingyue in front of Kumho. Recalling the high spirits and inexplicable arrogance when I first returned to China, it seems so childish and funny.

Xie Jiannan snuffed out the cigarette gun in the grass by the side of the road, turned around and got into the car, and asked the driver to take him to the airport. When going down the mountain, I saw Ge Yinjun passing by in a silver Ferrari sports car, with a woman in red sitting next to him. The impression at a glance is also quite gorgeous, Xie Jiannan vaguely remembers seeing this face on the screen, maybe it is some starlet in Hong Kong.

Unexpectedly, Xie Jiannan was recognized by Ge Yinjun. Seeing that Ge Yinjun still did not forget the ostentation of a rich man driving a sports car and playing celebrities, he wondered how long he could last this kind of life. Completely out of sight. Xie Jiannan also put Ge Yinjun, an old man, in a corner where he completely lost his memory.

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Xie Jiannan did not want to get involved in the mobile phone business, and Mitsui \u0026 Co., Ltd. behind him interfered with the establishment of the mobile phone department. He strictly updated the Wenxin Pavilion to prevent leaks. For this reason, he did many things in person, and he was going to inform Huaxia Electronics and Huaxia Electronics when the preparatory work was almost completed, so that resistance could be minimized.

When everything is ready, even if Huaxia Electronics and United join forces to obstruct it, Xie Jiandong will still be able to push things forward as a controlling shareholder.

After Xie Jiannan returned from Hong Kong, he stayed in Jinshan for two days, and took the person in charge of the technical department to wait until Jianye to discuss technical issues with the mobile phone chip ear department. Kewang set up a mobile phone department and purchased core components such as ess baseband chipsets from Kumho, which naturally also included necessary technical support.

In fact, Kumho can provide more. In addition to core components and necessary technical support, Kumho even provides complete machine solutions, but first requires Kewang to ensure that the products are completely delivered to overseas markets. In the Chinese market, only Kewang**** and Lianxin can obtain the support of Kumho's complete machine technical solution for the time being. This is also to ensure the smooth implementation of China Unicom and avoid disrupting the domestic market from other channels for ess baseband mobile phones.

At this time, Xie Jiannan became more aware of Kumho’s strategic layout in the mid-to-low end. No brand can cover all the people. The consumer electronics products under Kumho’s own brand are mainly aimed at the mid-to-high-end consumer market. The high-end market, but it must not be full of smoke in the middle and low-end market, and carry out comprehensive coverage, otherwise the value of the brand will be seriously damaged. Kumho’s implementation of the mid-to-low-end mobile phone market can only be indirect. Kewang High-Tech, Lianxin, Xinyuan, Kewang, and other companies will become the channel for Kumho’s sword to point to the terminal market in the future, and become the channel planned by Kumho. A link in the entire industrial chain.

Sometimes guesses are confirmed, and I don’t feel particularly good. I eat with Xie Yi and Xie Zijia at night, get emotional, drink two more glasses of wine, and ask Xie Xi: “Back then, when we were fighting for Haitai, he He didn't argue with us, we thought he was weak and easy to bully, looking at it now, I really feel pitiful and ridiculous...

Xie Yi also felt sad. If he hadn't learned that Ke Wang was about to become Kumho's buyer, he would have hesitated whether to have dinner with Xie Jiannan at night. Who would have imagined that person subconsciously put so much pressure on him? He clinked glasses with Xie Jiannan and said, If I had just gritted my teeth, I would have survived...

They are really two pitiful and ridiculous men. Xie Zijia was still merciless when speaking, You are really naive, but they show no mercy to the Ge family. Grit your teeth and give it a try?

Xie Jiannan gave a wry smile. If it wasn't for the breakup, it would have been more likely to have sunk into the abyss together. After his uncle passed away, Ge Mingxin, Ge Yinjun and his son had no ability at all, and the grievances between the two sides faded away. The eldest sister should also play a big role.

You don't hate my dad, do you? Xie Xie asked.

I have always admired my second uncle's decisiveness, so why would I hate him? Second uncle sees it clearly... Xie Jiannan shook his head slightly, What is the development plan of Haitai Electric?

... Xie Yi smiled wryly and shook his head, and said, The layout of Shengxin Electric has been completed. Although Haitai can still survive in the East China Sea and Jiangnan, the road to expand outward is completely blocked by Shengxin... If Kumho is behind the scenes What a small move, there is still bitterness to complain, who to complain to now? I can’t see where Haitai’s future path is, I can’t wait to throw this stall away and do something else.” Xie Jiannan smiled, Haitai’s Under the management of Xie Yi for several years, the profit level has been quite good, but it is more important for Xie Xi to achieve a breakthrough in his career.

Since 1997, Shengxin Electric Co., Ltd. has started to carry out industrial layout in the main central cities of Hanguo. The number of flagship stores is more than the total number of Haitai stores. Mobile phone marketing network to counties and cities.

Haitai competed with Shengxin in the same industry. They were too small. In 1997 and 1998, they missed the good opportunity of outward expansion. Shengxin's industrial layout was completed, and Haitai lost the opportunity of outward expansion. When Shengxin further strengthened its industrial layout Haitai will feel the pressure of survival.

What's there to sigh about? Xie Zijia said, Overseas home appliance chain giants are eyeing the domestic market, so why not sell Haitai to them and see who can win if they compete with Kumho in the same pot? Who.

It's easy to say. Xie Yi reached out and tapped Zijia's head. He had indeed considered selling Haitai Electric before he was under the pressure of survival. However, under such an industry structure, Wen's heart was apart from Shengxin Electric. Therefore, probably only those giants in the overseas home appliance chain industry are potential buyers, but they are afraid that selling Haitai to overseas companies will anger Kumho.

Don't you just want to steal chickens and be afraid of losing rice? Xie Zijia said sharply, Since we want to throw away Haitai's stall and sell it at a high price, it's only right and proper. It's not impossible, where do you have so many scruples?

Xie Yi wanted to say something else. Xie Jiannan's cell phone on the table rang. He looked at Xie Jiannan and glanced at the number, then muted the phone, and let the phone flicker there. After all, the relationship has not recovered to before the breakup. If you have doubts, you can't help but ask.

Xie Jiannan took the initiative to explain: The classic Lin Xue, she may know that I have arrived in Jianye...

That woman! Xie Zijia looked disdainful.

Their risky move on Haisu Technology is about to be completed by them... Xie Yi sighed softly. The wave of the Internet has continued to surge until now and has not stopped. The average level before the reorganization in May has skyrocketed by 28 times, and the market value has exceeded 16 billion. This is a result that no one has thought of before. If it is operated properly, it will eventually be able to cash out almost 6 to 7 billion funds.

Who knows, Kumho bought 30% of the equity of Global Music Online at a sky-high price of 900 million U.S. dollars, and the taker is Microsoft, the leader of global technology companies.

It's still too risky, Xie Jiannan shook his head, Kumho's capital operation around Jiaxin Real Estate is the right way. It can be said that it has immediate results. Kumho's purchase of 600 million Hong Kong dollars has increased the value of that part of the equity within a few days. 1.8 billion Hong Kong dollars, without spending a penny for it, and getting 1.2 billion Hong Kong dollars for the development of domestic real estate. Worth the money.

Kumho's total debt is almost three billion dollars? Xie Xie asked.

Almost, even if not, the difference is not far, Xie Jiannan said, People may say that Kumho has too many lice and is not afraid of being bitten. You and I both know that it is Kumho's daunting financing ability that supports its existence. With the rapid expansion in many fields, I estimate that the investment scale of Kumho Corporation in the past two years will be as high as four to five billion U.S. dollars, which does not include Aida, Shengxin, Xiangxuehai, Shin Kong, and Century Kumho in their respective industries. Expansion...Even if Horizon can draw a huge amount of funds from Haisu Technology, it will leave Kumho far behind.