The birth of the Hong Kong Island family

Wharf Group’s conference room.

Lin Zhichao presided over the meeting. He first said: "Sell the gold in our hands and get cash back. It will be completed this month (October)."

As early as December last year, under the arrangement of Lin Zhichao, the Wharf Group invested HK$50 million in gold spot from the Hong Kong Gold and Silver Exchange and overseas gold merchants. The international gold price at that time was US$165 per ounce.

Last month, the international gold price was still US$215 per ounce, but this month (October) it has soared to US$240 per ounce.

CEO Tony Dank said: "This month, the international gold price has soared by US$25 per ounce. In just ten months of this investment, we have gained more than 40%."

The management in the conference room immediately looked at Lin Zhichao with admiration.

Lin Zhichao said calmly: "It takes ten months to earn more than 20 million Hong Kong dollars from 50 million Hong Kong dollars. This rate of return can only be regarded as a pretty good level in Hong Kong at this time. Let me arrange for the Wharf Group to participate." For the Amoy Garden project, we spent only RMB 100 million, and there is absolutely no problem with an annual income of 40%."

Everyone immediately applauded.

The Wharf Group, which was originally in trouble, was blossoming everywhere and the situation began to improve.

You can earn more than 20 million yuan by speculating in gold; you can earn more than 40 million yuan a year by participating in the "Amoy Garden" project; even the rental income of Wharf Group has begun to increase by more than 30%.

The Amoy Garden project is to build 4,800 residential units and a shopping mall on a land area of ​​226,000 square feet; Cheung Kong and Hang Lung hold 35% of the shares, and Wharf Group holds 30%, with a total investment of HK$950 million (land price 200 million + land supplement fee + construction fee + taxes, etc.).

Assuming that the average selling price of a residential unit is HK$280,000, including shopping malls, the sales volume is almost 1.4 billion, which is a profit of 550 million. The Wharf Group can earn a profit of HK$165 million, which will be fully recovered within four years, amounting to an annual income of more than HK$40 million.

Tony Dank said at this time: "In the past, the Wharf Group only developed 'rent-collecting properties', which resulted in poor capital flow. Now the rental and sales businesses are developing at the same time, and it can get out of trouble quickly."

This foreign CEO was not from the Yihe family, so he ‘fell down’ Lin Zhichao immediately. Lin Zhichao also took a fancy to Tony Dank's ability, so he trusted him very much. Of course, the Harbor City project was still under development, so he relied heavily on these foreign management teams.

However, the Wharf Group is not a real foreign company, so there is no need to use a large number of foreigners in the future; therefore, the majority of new employees and management will be Chinese, and the 'blood change' will be completed in a logical manner. Of course, it’s not that foreigners are not needed, it’s just that the importance of Chinese has increased a lot.

Next, Lin Ruihai made a work report: "Chairman, after a year of planning and analysis, we found that the Hong Kong Tramway Main Plant (Causeway Bay) has great business prospects. If two first-class Grade A office buildings are developed, and then next to If a 16-storey high-rise shopping mall is developed, this area will become the core commercial area of ​​Causeway Bay, known as the retail business district."

With Lin Zhichao's guidance, Lin Ruihai's work direction will not be wrong.

Therefore, his work report received surprises from all the senior officials. After all, he only wanted to build some residential buildings at the beginning, which was a waste of money.

Lin Zhichao nodded, but then said: "This project should be slowed down and done in the 1980s. Harbor City is still under development and the group's funds are also limited."

All the senior executives nodded. Since they have this project in hand, there is no need to worry about it running away. It is only correct to make the best judgment based on the actual financial situation.

Lin Ruihai said: "Okay"

Everyone listened to the father and son's work conversation and understood the boss's desire to cultivate his son.

In fact, 26-year-old Lin Ruihai already has a high status in business, serving as: general manager and executive director of Asia Shipping, deputy general manager and executive director of Wharf Group, deputy general manager of Global Group, deputy director of Amazon Commercial Real Estate Company General Manager (Manhattan Office Building).

Today, the Lin family has five second-generation men who can stand alone and become Lin Zhichao's right-hand assistants. Therefore, Lin Zhichao also has a lot less worries.

After the Wharf Group meeting.

Lin Zhichao and Lin Ruihai, father and son, took a car and headed towards Hong Kong Island.

"Thirty years have really passed by. Hong Kong is really changing every moment." Lin Zhichao sighed as he looked at the bustling scene outside the car window.

"My father's collection of photos and videos truly illustrates the rapid changes in Hong Kong. My grandfather and the others told me that my father has always been extremely confident in Hong Kong since thirty years ago and has never wavered." Lin Ruihai asked curiously.

"Well, I have never wavered, but where could we go back then! There is serious discrimination overseas. Mainland Taiwan and Taiwan are not suitable, only Hong Kong is the most suitable. In this case, why not have confidence in Hong Kong and stay to build it!" Lin Zhichao said.

This is true, and his contribution to the development of Hong Kong is really huge. Over the years, his shipping industry has supported nearly 10,000 white-collar and blue-collar workers; the factories he opened are equivalent to supporting more than 3% of the population (including related factories)

And these 'contributions' were almost non-existent in the previous life, and they were business grabbed from overseas. So compared to Hong Kong in the same period, Hong Kong is obviously more developed in this life.

Next, Lin Zhichao will also develop cultural strategies and technological strategies, and will make more contributions to Hong Kong. This is his base camp, and he must lay a solid foundation so that no matter how things change in the future, he will not be crushed by Singapore.

It’s just a city with a population of several million, so it’s impossible to move it.

"By the way, how has the debt ratio of Asia Shipping decreased? How many ships are left?" Lin Zhichao then asked.

"Cash flow exceeds debt, and net cash flow is almost HK$160 million. Currently, there are only 1.6 million tons and 18 ships left, including 5 VLCC oil tankers. These ships are all leased to our loyal customers and it is not suitable to use them again in the short term. For sale." Lin Ruihai reported with a blush.

Two years ago, he vowed to develop Asian shipping. Unexpectedly, his father had already started to reduce ships in a year and a half. If he goes according to his ideas, this company may have big problems in the future. Although the shipping crisis was not obvious at this time (Japanese shipping was poorly managed), he believed in his father's vision.

"Well, that's almost it! Today, there are only 25 VLCC and ULCC oil tankers left in Global Shipping, with a total tonnage of 6.5 million tons. In addition, Asia Shipping has 1.6 million tons and Huaxing Container Transport has about one million tons (the actual ship owner is calculated by container) , Longfeng invested 500,000 tons, and our ships only have 9.5 million tons. We have basically completed the first step of reducing ships, and will continue to adjust according to the situation in the future."

"Father, I heard that Dong Haoyun is still building ships crazily, while Bao Yugang is reducing the number of ships. It seems that everyone's opinions are not unanimous. However, some small ship owners are starting to be cautious." Lin Ruihai said.

My father is still influential, but at least some small and medium-sized ship owners no longer dare to expand.

"I have said on many occasions that the shipping industry has reached an inflection point, and I have also described it in the media. It is up to everyone to listen or not. I just hope that when the 1980s come, Hong Kong shipowners can suffer less losses."

It is Lin Zhichao's great ambition to remind everyone within his ability.

Back to Universal Group.

Lin Zhichao was in the office, thinking about one thing. There was still just over 6 billion Hong Kong dollars in cash lying on Universal Group's account.

From 1971 to 1973, all the money earned by Universal Group was invested in Victoria Harbor by Lin Zhichao; and from 1974 onwards, Universal Group brought 6.5 billion profits to Lin Zhichao (including 1 billion profits from oil speculation). Amazon Commercial Real Estate and Wharf Group spent HK$3.5 billion, leaving HK$3 billion.

However, in the past year and a half, Global Shipping and World Shipping have sold a fleet of 11.5 million tons, bringing Lin Zhichao personal profits of more than 3.6 billion Hong Kong dollars.

In fact, just to lay off the seafarers, Lin Zhichao spent an extra two to three hundred million Hong Kong dollars in cash. He could actually save this money, but Lin Zhichao felt it was worth it.

Of the 6.5 billion in cash, Lin Zhichao plans to invest 6 billion into the family office or Victoria Harbor.

After all, Universal Group has successfully landed, and now it has formed a tripartite situation of Universal Shipping (including Hong Kong Airlines, Asia Shipping, etc.), Wharf Group, and Amazon Commercial Real Estate.

If Global Group needs to continue to develop, there will be no financial obstacles. After all, the group's debt ratio is almost zero, and shipping has been profitable for two years without any problem.

One month later.

Lin Zhichao summoned Lin Ruihuan and asked: "How is the progress of Hutchison Whampoa's equity acquisition?"

Lin Ruihuan immediately reported seriously: "This month (November), affected by factors such as rising interest rates, a sharp fall in gold prices, and unsatisfactory government land sales, the Hang Seng Index began to fall rapidly from 700 points on October 30. Now, only 20 days have passed, and the Hang Seng Index has only reached 483 points. Taking advantage of the panic in the market, we have absorbed a large number of Hutchison Whampoa stocks in these 20 days, and currently hold 43.8% of Hutchison's equity."

In the first ten days of this month, the price of gold suddenly plummeted, from the international gold price of US$240 per ounce to US$195 per ounce. Lin Zhichao last month told the Wharf Group to "stop as soon as possible", which can be regarded as "escaped". Of course, it will rise again soon, but only Lin Zhichao knows that.

Lin Zhichao nodded and said: "Continue to make acquisitions. Changshi Group has sufficient financial strength and is fully capable of increasing its shareholding to 49%."

Lin Ruihuan said: "Okay, father! If the shareholding reaches 49%, our Cheung Kong Group's voice in Hutchison Whampoa will be greatly increased, while Hutchison Whampoa's salary management will not have much power."

Lin Zhichao smiled and said: "As far as power is concerned, I can control Wei Li and others long ago. But for Hutchison Whampoa, we can't rush it. We should take over the management power slowly and gradually. You don't need to worry about this matter for the time being. I'm over there. Look, it will be truly included in the Changshi system within a few years at the latest.”

Lin Ruihuan said: "Okay"

He admired his father very much for going alone to Hutchison Whampoa, a company with all British senior executives. Importantly, there were rumors that Lin Zhichao was highly respected in Hutchison Whampoa and had a good understanding with the British management.

After Lin Ruihuan left the office, Lin Zhichao nodded with satisfaction.

The eldest son is mature and stable, and is a good heir to the family. In the 1980s, he resigned from the position of general manager. Of course, Lin Zhichao will still control the development of Cheung Kong Group and will not allow the emergence of Zheng Jiachun in his previous life. After being in power for a few years, I have to wipe my butt again. In other words, although Lin Zhichao gave up his position as general manager, he would intervene in all major projects and would immediately call it quits if something went wrong.

After all, he is the chairman of the board of directors, and everything is subject to his orders; the general manager can make his own decisions only if the chairman does not interfere.

However, in Lin Zhichao's view, Lin Ruihuan cannot be a 'second generation' like Zheng Jiachun, who is excellent in all aspects. What may be lacking is the experience of running a large group.

In terms of personal matters, Lin Ruihuan also did what Lin Zhichao wanted. He is now the father of two sons and maintains a very good family relationship.

Currently, Lin Zhichao has four grandchildren, all of whom are boys. It seems that the Lin family has inherited Lin Zhichao's genes, and the chance of giving birth to a boy is higher, while the chance of giving birth to a girl is smaller.

afternoon.

Lin Zhichao participated in Hutchison Whampoa’s high-level meeting, where he took the initiative to learn about the progress of ‘Hutchison Telecommunications’.

At this time, Weili said: "Sir Lin, we all agree on the establishment of Hutchison Telecom. But the problem now is that Hutchison Whampoa still has a high debt, so we can only take a break."

Lin Zhichao looked at Richard Chaxin and others, and found that they dodged Lin Zhichao's gaze, and knew that Wei Li had reached out to these people for some tacit understanding in private.

However, Wei Li's reasons are indeed irrefutable. Hutchison Whampoa's current net debt is HK$1 billion, and last year's net profit was HK$150 million. The crisis is not resolved.

Lin Zhichao thought about it and decided that there would be no problem in putting it on hold, even if it started developing in the early 1980s. After all, the world's first commercial mobile phone was sold in the United States in 1983, while Hong Kong launched a mobile phone in 1985.

"Since Hutchison Whampoa is so short of money, I have an investment project here. Please tell me about it and give me some advice!"

Weili said: "Please tell me! I have heard before that Sir Lin is not only the god of management, but also an investment master."

He should give respect to Lin Zhichao where respect is due. After all, Lin Zhichao was knighted by the Queen of England, and his reputation as the God of Management is universally recognized. But he also tried his best to exclude Lin Zhichao where it was necessary to exclude him, especially to reduce Lin Zhichao's competition with himself for management power.

You know, Weili's annual income is 2.5% of Hutchison Whampoa. That is, in 1977, Hutchison Whampoa earned 150 million, and Weili's bonus was about 4 million.

This is the real working emperor!

This year (1978) will be even higher. If by the early 1980s, Hutchison Whampoa's profits have reached 300 million, Wei Li's annual income will be close to 10 million.

Lin Zhichao didn't want to give Wei Li too much time. After all, he was good at equity structure restructuring and asset reorganization, not business management. Starting this year, Hutchison Whampoa actually has to rely on operations to develop.

"Gold has plummeted recently. Of course, I asked Cheung Kong Group to spend 100 million Hong Kong dollars to buy gold at the bottom, and buy spot gold from the Hong Kong Gold and Silver Exchange, the local London Gold Market and other channels. Hutchison Whampoa can also spend 100 million Hong Kong dollars to buy gold at the bottom. , regarded as a financial investment.”

Wei Li was planning to sternly refuse. After all, his predecessor Qi Dezun had speculated on financial products, lost Hutchison Whampoa, and put the company in trouble. However, he quickly retracted his words because he thought of something that might damage Lin Zhichao's reputation.

"The price of gold has plummeted. What should we do if it continues to fall?" Weili said deliberately.

Richard also frowned and said: "100 million Hong Kong dollars is a lot of money for Hutchison Whampoa. If it is invested in non-core business, once it is lost, Hutchison Whampoa will be in a good situation and will be in an unfavorable situation."

Lin Zhichao said: "Investing in gold is much more reliable than investing in stocks. I am very confident in this investment. If we can increase non-recurring profits, Hutchison Whampoa can get out of the trough faster."

Weili took the opportunity and said: "Since Sir Lin proposed this, let's vote on this investment by a show of hands!"

Needless to say, less than half of the people originally supported it. However, Wei Li raised his hand to support it. Later, Richard Richard and others also raised their hands to express their support, and the resolution was passed with a high vote.

Lin Zhichao wanted to laugh in his heart. Wei Ideal used this method to make Lin Zhichao's influence and prestige plummet. As everyone knows, not to mention that gold will rise with the Iranian coup, 1979 was a golden year; how could this event itself have any influence on a major shareholder who owns more than 43.8% of the shares or even more?

In the face of absolute strength, everything is fake.

What's more, Lin Zhichao also wanted to increase his influence in this way, and was also plotting against Weili to get him out of the house early. According to Lin Zhichao's plan, Wei Li will leave Hutchison Whampoa before the 1980s, which can save a lot of money.

Hutchison Whampoa successfully passed Lin Zhichao's investment advice and invested HK$100 million in gold spot, which is about 2.5 tons of gold.

According to Lin Zhichao's estimate, it will earn more than 100 million in profit by the end of next year. In this way, Hutchison Whampoa's profit will reach more than 300 million in 1979, greatly alleviating the high debt situation.

As for the privatization of subsidiaries, it could only be carried out after 1982. Taking advantage of the trough of the stock market, funds could be reduced.

In late November, Lin Zhichao arranged the affairs of the ‘Lin Family Office’ and ‘Victoria Harbor Investment’.

He first took out 6 billion Hong Kong dollars from Universal Group, of which 1.8 billion (approximately US$300 million) was injected into the family office for long-term investment in stocks that Lin Zhichao is familiar with, including McDonald's, Wal-Mart, Coca-Cola, Nike, KFC, etc. , mainly because they are optimistic about their long-term and stable development and their generous dividends.

Another 4.2 billion Hong Kong dollars were invested into Victoria Harbor Investment, which was used for gold spot investment. Victoria Harbor Investment already holds 200 tons of gold, and this HK$4.2 billion can buy almost 80 to 90 tons of gold.

For this purchase of gold, Lin Zhichao planned to let Hong Kong complete the 40 tons quota, so he once again invited Zheng Yutong to assist.

The two of them had afternoon tea together at the newly built New World Hotel.

"Zheng Sheng, this time I want to entrust Chow Tai Fook to purchase 20 tons of gold bars for me. It is best to complete it within two months."

After being surprised, Zheng Yutong said with a smile: "Let me tell you, Lin Sheng, you are so generous. Do you know that Hong Kong only imports 110 tons of gold a year?"

Lin Zhichao said: "This data is only temporary. I believe that Hong Kong's imports will soon reach more than two million tons. After all, as the second largest tourist region in Asia, the purchasing power of tourists is amazing. If Lao Zheng trusts me, he will also You can reserve some and reduce the cost price of jewelry.”

Zheng Yutong said without hesitation: "Of course I can trust your vision. Well, I will handle this matter for you."

"How much should the commission be?"

"Absolutely not. I'll charge you a cost at most. Last time you gave me instructions to reserve gold, and you saved me more than tens of millions."

Lin Zhichao stopped trying to persuade him!

Chow Tai Fook is one of the three major jewelry brands in Hong Kong and is also a major importer of gold. If Zheng Yutong also saved two tons, he could earn tens of millions of Hong Kong dollars!

In addition to entrusting Chow Tai Fook, Lin Zhichao can also obtain spot gold from the gold and silver trading center and the local London Gold Market (participating in the world's five largest gold merchants). Not to mention, gold shops in Hong Kong all sell gold bars, but the cost is slightly higher.