The rise of Hong Kong's wealthy families

The escape incident of Yida Group Chairman Zhong Zhengwen continued to unfold, but investors still believed in Jiani Group, so Chen Songqing decided to raise funds through rights issues to solve part of the debt problem and tide over this difficulty. Unfortunately, Jiani Group, which was at the center of the conflict, did not Trusted by the Securities Department, he rejected the proposed rights issue fund-raising plan and prepared to conduct a financial investigation of Jiani Group.

In He Jiahao's view, the Securities Department was determined this time and would never be as perfunctory as before.

As expected by He Jiahao, three days later, the Securities Department separately announced that Jianing Real Estate Company alone had a debt of HK$3.3 billion, and the entire Jianing Group had a debt of approximately HK$6 billion.

As soon as the news came out, Jianing Group's share price immediately plummeted. Shareholders woke up from a dream and cursed Chen Songqing as the number one scammer (liar) in Hong Kong. They also complained about the media's irresponsible flattery. However, many people still believed in Chen Songqing's story. With the background of the overseas Z government, I believe that the overseas Z government will not ignore the situation and Jianing Group still has a chance to make a comeback.

The next day, someone else broke the news that "the Harcourt Building transaction has actually not been completed yet." It was just false news released by the Carnegie Group to push up the stock price.

As a result, the situation of Jianing Group became even worse. The downward trend of stock price could not be stopped at all, but it tended to fall faster.

He Jiahao guessed that Chen Songqing would definitely continue to look for loans from Yumin Bank. Otherwise, the collapse of the Carnegie Group was imminent, and the senior management of Yumin Bank had already been corrupted. In addition, Chen Songqing had all the handles on the top management, and Yumin Bank would have to continue lending to Carnegie. Group you.

Naturally, he was not in the mood to report Yumin Bank, because sooner or later this matter could not be concealed, so why should he be such a villain.

In the previous life, the trigger for the downfall of the Jianing Group was a murder case in the summer of 1983, which revealed the truth about Chen Songqing's mysterious background. At the same time, Chen Songqing was prosecuted in court, and investors truly lost trust in the Jianing Group.

He Jiahao sat firmly on Diaoyutai, and the affairs of Yida Group did not take him too much time.

The Hong Kong government could not allow the prefecture market to plummet, but the bid for the Queen's Land King had been withdrawn, so the first auction since September was held with the intention of stimulating the prefecture market.

Ho Ka-Hao is also willing to sell face to the Hong Kong government and take a look at the "Variety of Life" because he has been a little busy recently.

Auction venue

We didn't meet Huang Tingfang and his son this time, maybe they were busy solving Sino Real Estate's debt problem.

He Jiahao was busy greeting people like Zheng Yutong and Li Zhaoji.

"Fourth uncle, I didn't expect you to attend such an auction." He Jiahao joked. Li Zhaoji has always been interested in merging old buildings. Now that the prefecture and city are not good, it is a good time to merge buildings. I am afraid that Li Zhaoji is even more interested in the auction of official land. not interested.

"Well, some people have to give face." Li Zhaoji nodded and said helplessly.

"Uncle Tong is also invited?" He Jiahao looked at Zheng Yutong and said with a smile, the Hong Kong government is the most important.

Zheng Yutong nodded, changed the subject and said, "Ah Hao, which piece of land are you interested in? Otherwise we will bump into each other later."

"As long as the price is low, I am interested in any piece." He Jiahao laughed.

The Hong Kong government may not realize the seriousness of the situation in the city, and land prices may drop a little. I don’t know if it can meet Ho’s requirements. There are still a lot of good land, and he wants to buy a few more pieces with a small amount of funds.

Face can be given to the Hong Kong government, but as for whether to buy or not, the initiative lies entirely in the hands of real estate developers, and the Hong Kong government cannot forcefully buy or sell.

"Hahaha!! You will probably be disappointed this time." Zheng Yutong laughed and said, doesn't he still know the urine properties of the Hong Kong government?

A few people joked for a while, and then the auction officially started.

There were a lot of people at this auction, and the seats were packed and crowded, but it was unknown whether many lots would be unsold.

"Everyone, welcome to this auction." The host said with saliva, but the real estate developers in the audience showed little interest. Many of them were invited here because of the Hong Kong government's reputation, so naturally they were not willing.

"The first piece of land is located in Kowloon Bay. It is an industrial land with an area of ​​51,000 square feet and a starting price of 42 million. Okay, start bidding now!"

He Jiahao smiled at Zheng Yutong next to him and said nothing. Zheng Yutong just shook his head.

The price of industrial buildings in Kowloon Bay has dropped to more than 100 yuan per square foot, and now the auction price dares to be more than 800 per square foot. This is not to make real estate developers lose money.

The result, of course, was that the first piece of land failed to be auctioned.

The auctioneer was quite helpless, but this is the reality.

The second piece of land was in the Fubolin area, and some real estate developers were more interested in it. However, when the price reached a premium of 20%, the real estate developers made a conscious decision not to bid again. Firstly, it was not cost-effective, and secondly, they could buy it if they had the money. The land is almost the same, why should the Hong Kong government give it a discount?

The third land

It wasn’t until the eighth piece of land that it became interesting. This piece of land is located in Ho Man Tin, with an area of ​​only 27,000 square feet. It is commercial in nature. Many real estate developers bid for it, but when the price reached 72 million, only three were left. Real estate developers compete, and one of them is Ho Ka-ho.

"72.5 million!" The CEO of a medium-sized real estate company shouted.

He Jiahao smiled slightly, held up the sign and said "73 million!"

The boss gritted his teeth and thought for a moment, then raised his sign and followed, "73.5 million!"

Ho Jiahao shook his head and did not continue to bid. The price of this piece of land was already over 2,700 yuan per square foot, which was a bit high. Moreover, it was not very valuable to build a commercial building in the location of Ho Man Tin. He still liked to collect rents in places like Central and Causeway Bay.

"73.5 million for the first time! Does anyone want to increase the price?"

Seeing that He Jiahao stopped bidding, the boss felt a little regretful. He felt that the land was not worth the money. Otherwise, why didn't He Jiahao increase the price?

Among the real estate developers, He Jiahao has always been someone who is not short of money. He will pay no attention to the land and properties in good locations. Now that he is letting go, the boss will habitually think more.

"73.5 million for the second time!. The third time! Deal!"

The auctioneer was a little happy. This was the highest price for the time being today, and he could pay the price.

The next few plots of land were not of much interest. Not only were they expensive, but the location was not good enough. Only one of the plots of land in Tuen Mun was photographed, and the others were rejected.

"The thirteenth site is located on Lok King Street in Fotan. It has an area of ​​54,000 square feet and can build two 32-storey residential buildings. The starting price is 45 million."

Zheng Yutong was the first to raise the sign, but turned to He Jiahao and smiled and said, "It's time to join in the fun, otherwise I would almost fall asleep here."

"It's a good thing that Uncle Tong can sleep. Many people can't sleep now." He Jiahao said.

"Mr. No. 13 made a bid. Is there anyone else who bids?"

"Everyone else can sleep, but you, Ahao, can sleep. I heard that you sold a large number of properties in the first half of the year. New World Development now has some bad properties in its hands. Why didn't you remind me? Where are I?" Zheng Yutong said jokingly.

"Uncle Tong, you are a tycoon in the real estate industry. New World Development is running so well. You must have seen the problems in the real estate market. There is no need for me to go to the front door to solve the problem."

"I also felt something was wrong, so I stopped a little bit. Unlike you, you grasped the timing so accurately." Zheng Yutong said.

"I was also lucky. At the beginning of the year, I asked my subordinates to sell it quickly. At that time, I was a little worried that there would be a sudden plunge, and I would be miserable." He Jiahao sighed.

"The real estate business still needs to develop steadily. Too much risk is always too dangerous." Zheng Yutong advised.

This is the business method of the previous generation, and it is natural to learn from it, especially since Huamei Real Estate has developed and does not need to take too many risks.

"Yes, Uncle Tong said that."

By the end of the auction, 23 lots were put up for auction, 9 of which were unsold.