The rise of Hong Kong's wealthy families

The meeting lasted for more than an hour. In the end, Yin Jihong, the head of the finance department, said that the company could appropriately increase some loans. Gao Ci, the property rent collector, said that a batch of property sales funds would be received before November, about 80 million.

So I pieced together everything here and there, and finally collected about 300 million, which was just enough for 40% of the 700 million bid for the King of Admiralty.

early November

Only nine major companies participated in the Admiralty Land King bidding case, and the highest bid was 700 million. However, the Hong Kong government took back the land because the bid was too low.

In fact, at its peak in 1981, the market value of this land was at least 1.4 billion. Now it is 700 million, which is indeed too low. However, the Hong Kong government has not clearly seen the current situation and uses the land price at the peak to measure the land price on the eve of the big crash. , this is not because local real estate developers are fools.

The withdrawal of the tender also caused the local market to fall further.

When He Jiahao heard the news, he was just stunned, and then he figured out that there was no shortage of people in the Hong Kong government who were "high-minded but low-handed".

The failure of the bidding made the senior management of Huamei Real Estate a little angry, but the Hong Kong government had no choice but to add endless anger to the work, which also made the employees under them worried for a while.

He Jiahao feels that the failure of this bidding case will not have much impact on Huamei Real Estate, because this is a bidding case that was not planned. If it succeeds, it will affect Huamei Real Estate's bargain hunting next year.

On this day, the Hang Seng Index dropped to 783 points, a new low in the past few years, and the downward trend still cannot be stopped.

The stock market is going to collapse soon, and this is a result that everyone can see.

The real estate industry could not sustain it for long. Banks began to tighten money on a large scale, and land and house prices soon began to plummet.

The backbone of the Jia Ning Group is real estate. Jian Ning, which is supported by loans, will undoubtedly get a noose at this time, which will be tightened around the neck and one day it will be unable to breathe.

A few days later, Zhong Zhengwen, chairman of Yida Group, realized that death was coming and the only way to go was liquidation and bankruptcy. He borrowed the name of the group to raise funds and fled Hong Kong in a hurry with the money, leaving behind a debt of 2 billion Hong Kong dollars and Other loan guarantees are HK$1.6 billion.

As soon as the news came out, the whole of Hong Kong was in an uproar. Stock investors were cursing Zhong Zhengwen. The relevant departments of the Hong Kong government immediately formed a working group to station at Yida Group to check the group's accounts. Unfortunately, it was of little use at this time.

In accordance with the 'debt hereditary' jurisprudence of the Qing Dynasty law retained by Hong Kong and British laws, the Hong Kong Court and the police team took control of Zhong Zhengwen's son, waiting for the court's decision.

The stock price of Yida Group has plummeted and has been suspended. Shareholders should have lost all their money.

In the Xiangjiang business community, no one knows that Yida Group and Jianing Group are twin brothers. Zhong Zhengwen and Chen Songqing have collaborated many times and have a very close relationship, so the collapse of Yida Group soon affected Jianing Group.

However, Chen Songqing is a very arrogant person. Even in such a difficult situation, he refuses to admit defeat because he still has overseas banks as his backer and thinks he can make a comeback.

Seeing such news, He Jiahao sneered, "The world has always been like this. Good people die early, and bad people cause trouble to society."

In fact, not only Jianing Group and Yida Group are facing such difficulties, but Hang Lung is also like an ant on a hot pot. Although there is still some funds that can be circulated, unfortunately it will not last long. After all, Hang Lung has won 9 subway stations in one breath. The capital involved in the superstructure project exceeds HK$3 billion, which is 80% of Hang Lung’s market value.

Eagle Real Estate is not having a good time either. The Regal Hotel presided over by Luo Yingshi has expanded rapidly in recent years, involving more than 2 billion in debt. The land was acquired during the peak period of land prices. Now that the land prices have plummeted, naturally there has been a lot of losses. After a while, banks will also start to press for the repayment of debts, and Luo Yingshi will feel numb at that time.

At this time, when Chen Zengxi from Hang Lung came to visit, it would naturally not be a good thing, but we are friends, and He Jiahao couldn't turn him away.

"Haha!! What brings Chen Sheng to my gorgeous property?" He Jiahao greeted with a smile, already knowing the purpose of Chen Zengxi's visit.

"To be honest, I came here today to seek help." Chen Zengxi's face looked like a bitter gourd.

He Jiahao suppressed his smile and said, "What do you say, Chen Sheng?"

In business, this is the principle for everyone.

Of course, it can't be broken with Chen Zengxi, and he doesn't have the capital.

"He Sheng, you should know that I have won 9 subway station superstructure projects, and only one has been completed now, leaving 8 projects. Among them, the Admiralty Section 2 subway station superstructure project requires nearly 1.2 billion in funds. , there may be problems with the bank loan, so I want to ask He Sheng to help." Chen Zengxi still did not say the content of the help, and seemed to want He Jiahao to tell the boundaries so that he could get the most help.

"Sheng Chen, as you said, Huamei Real Estate is also a real estate company. The company also suffered losses during this city crisis. It was only because I was aware of it in advance that I avoided big losses. However, the hole in Hang Lung is too big. Huamei Real Estate cannot I fell headlong into this hole." He Jiahao told the truth.

It is true that Huamei Real Estate has always cooperated with Hang Lung Company, but it has never taken any advantage, so it is impossible to help Hang Lung for free now, let alone pull Hang Lung out of this big hole with all its efforts.

"I know, I just hope that He Sheng can help Hang Lung pay part of the cash for the To Kwa Wan MTR station construction project. When Hang Lung improves, I will return the funds first. Of course, Hang Lung will pay the interest based on the bank's 13 interest rate." Pay." Chen Zengxi already knew that it was impossible for Ho Jiahao to assist Hang Lung, so he could only reduce some pressure at To Kwa Wan MTR Station.

He Jiahao shook his head and said, "Chen Sheng and I are considered friends. How can we ask for interest? Let's do this. The second phase of the payment for To Kwa Wan MTR Station will be paid by Huamei Real Estate to Chen Sheng first. Let me say one more thing, Admiralty The second section of the subway station project is irreversible, so it’s better to give up as soon as possible.”

Hearing this, Chen Zengxi remained silent for a long time before replying, "What He Sheng said makes sense. I will go back and discuss it with the senior management before making a decision."

After seeing off Chen Zengxi, He Jiahao returned to his seat. The Admiralty Section 2 subway station project was doomed to fail. Otherwise, he would have started it long ago, and Chen Zengxi would not be there.

Don't look at Chen Zangxi's unwillingness now. It is already a certainty that he will abandon the Admiralty Section 2 subway station project, unless someone helps him come up with HK$1 billion in cash.

The Victoria Barracks on Queensway has a total area of ​​more than 280,000 square feet. The last tender only provided 117,000 square feet. Including the 69,000 square feet for the Admiralty Section 2 subway station construction project, the total is 350,000 square feet. It can build a floor area of ​​more than 2 million square feet. This is a rare large-scale project. The value in the future may exceed 60 billion. It is a high-quality property.

These three pieces of land have been regarded by He Jiahao as a must-win project, no matter how much money is spent.

Encountering such a big setback, Chen Zengxi's courage should be frightened. Now he is just unwilling to support him. When these projects are completed, Henglong Company may have to follow a conservative path for a long time. After all, according to the situation, Henglong is possible Facing liquidation situation.

If He Jiahao didn't know the next development, he would adopt a conservative strategy to run the company.