My Age of Investment

“Huanghe Industrial and Lai Kee Whampoa each have a peak market value of more than HK$300 billion, and the combined market value of the two companies is as high as HK$700 billion.

Now the market value of the two stocks has dropped to only about 100 billion Hong Kong dollars.

But their net worth is high, almost double their current market capitalization.

Let’s go to the Li family’s wool. Not only is it not very wooly, but it’s also prickly! "

Seeing that Xia Jingxing seemed a little superior and wanted to cause trouble for the Li family, Huang Shengguo dissuaded him calmly.

After shorting the Li family's listed company, the two established a revolutionary friendship.

Huang Shengguo didn't want to see Xia Jingxing doing useless work or even suffering some losses. As an ally, he wanted to give this a friendly reminder.

"Darren, don't forget, the Li family still has 20 billion Hong Kong dollars in bullets that have not been fired. When the market panic dissipates a little, they should fire these bullets.

If you run to go short at this time, you will just hit the muzzle of someone else's gun.

The fundamentals of companies such as Huanghe Industrial and Lai Kee Whampoa are there, and they can no longer fall. "

Xia Jingxing smiled and said, "I was just kidding. This time we just let the Li family consume a lot of personal cash. Several of their listed companies still have ample cash in their accounts and their businesses are operating well.

Maybe the Li family will also start stock repurchase work, using a large amount of cash on the company's account to repurchase and cancel part of the circulating stocks, increase the shareholding ratio and boost the stock price. "

Huang Shengguo nodded, "Yes, if the old guy is bold enough, he might as well spend another 100 billion Hong Kong dollars to privatize all three listed companies.

After some merger and reorganization and then re-listing, maybe we can recover all the losses. "

Xia Jingxing smiled and said, "He probably doesn't have that much cash reserve."

"That's true, but you can borrow it! Isn't HSBC the royal bank of their family? Take the lead in getting some syndicated loans, or introduce several powerful investment institutions to complete the privatization and restructuring together."

Xia Jingxing shook his head slightly, "Now that the landlords have no surplus food, which financial institution will pay for it."

Huang Shengguo sneered: "This is a good thing, otherwise the old guy would have privatized three listed companies. The cash on the books of those companies alone could cover all the borrowings, and he would have earned nearly half of the company's shares in vain."

Xia Jingxing said nothing, thinking carefully in his heart.

The Li family is indeed fat enough. They poured out a bowl full of blood this time without shaking the foundation of their business empire.

What if I put it in a few more times?

No matter how fat the pig is, it should be let down!

Huang Shengguo sat for a while longer, then said goodbye and left.

Before leaving, he solemnly talked to Xia Jingxing, asking Xia Jingxing to remember to call him if anything good happened in the future... he could help.

Huang Shengguo's position is very correct. He knows that the scale of his Tiger Asia Fund is too small to eat the most juicy parts of the prey. As long as he can follow Vision Capital and drink some soup, he will feel very satisfied.

Xia Jingxing naturally agreed. As for the future... it depends on the situation.

Anyway, he has no shortage of younger brothers to run errands.

Not long after Huang Shengguo left, the president of the Hong Kong Monetary Authority Yi Gang also came to visit.

His office is on the 88th floor, the top floor of the building. It's very convenient to get to the 49th floor, just a two-minute elevator ride.

Xia Jingxing went to the company door in person to greet Yi Rangang, which made the latter quite happy.

He followed Xia Jingxing into the office with a smile on his face.

As soon as he entered the room, he immediately praised the decoration and feng shui of Xia Jingxing's office, which made Xia Jingxing quite amused.

"Mr. Ren, we are friends. There is no need to be so polite between friends. If you need help with anything, you can just ask it directly. I will definitely help you if I can!"

Anyangang seemed to be waiting for Xia Jingxing's words.

He gently put down the coffee in his hand, with a bitter smile on his face, trying to look unspeakable.

After performing for a while, he sighed and said: "Oh, our Monetary Authority has encountered a huge problem this time! Unless we are forced to the point where we have no choice, I don't want to trouble you, Xia Sheng!"

The smile on Xia Jingxing's face remained undiminished, silently watching Xuanyang's performance.

Maybe it was too strenuous to perform alone, or maybe he didn't get positive feedback from the audience, but Xu Gang still got to the point.

"Xia Sheng, the bankruptcy of Lehman has had a very big impact on the financial market on Hong Kong Island."

"This impact is not only the plummeting of the Hang Seng Index and Hong Kong stocks, but also affects the banks on Hong Kong Island."

“Banks on Hong Kong Island distributed Lehman Brothers’ “mini-bonds”!”

"Mini bonds?" Xia Jingxing pretended to be confused.

Anyangang smiled bitterly and said: "Yes, you are a big shot in the financial world. You should know that Lehman Brothers is selling CDO bonds to global investors.

However, CDO bond transactions are often conducted in units of tens or hundreds of millions of dollars, and are over-the-counter transactions, so ordinary investors cannot participate at all.

After banks in Hong Kong bought CDO bonds, they cut these bonds into mini-bonds.

The entire Hong Kong market purchased a total of HK$15.6 billion in Lehman-related financial derivatives, of which HK$12.57 billion was cut into mini-bonds.

These mini-bonds were then promoted to more than 30,000 Hong Kong Island citizens by 17 banks including Bank of China Hong Kong and Bank of Communications and three securities companies.

The minimum investment threshold is HK$40,000, and buyers include taxi drivers, retired seniors, etc. "

The corner of Xia Jingxing's mouth twitched. Selling such a high-risk product to ordinary investors would have a bad conscience!

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While observing Xia Jingxing's expression, Xuanyangang continued: "Now that Lehman Brothers has collapsed, the value of these mini-bonds has depreciated significantly and the losses have been huge.

Investors are very dissatisfied. Just a few days ago, 500 people took to the streets, calling on our regulatory agencies to intervene. "

Xia Jingxing smiled and said: "Investment is risky. Hong Kong Island is a financially developed city. Citizens should know this, right?"

Anyang just shook his head, "Judging from the complaints received by the Hong Kong Monetary Authority, many people have been misled by bond sales agencies.

A sales brochure for mini-bonds is 54 pages long, which cannot be understood by ordinary investors, senior citizens, or even ordinary financial practitioners, let alone ordinary investors.

Many people believed the words of bank sales employees and thought it was a product with guaranteed principal and interest, so they used all their savings and pension funds to buy mini-bonds. "

Xia Jingxing raised his eyebrows, "Then this is a serious breach of responsibility by the bank? They should bear responsibility."

Ranyi waved his hand and said, "Listen to what I have to say first. The Hong Kong Monetary Authority and the China Securities Regulatory Commission have opened a case to investigate the banks and securities companies involved. They will find out whether the sales staff of these institutions misled investors."

Xia Jingxing smiled and said, "Isn't this good? We have found out the problem and who is responsible."

Randomly just slapped his mouth and said with a sneer: "No matter how we find out the situation, this matter must be a bunch of confusion.

Banks and securities firms were really just distributors, and the bonds were designed and issued by Lehman Asia. "

Xia Jingxing suddenly realized that this was what he meant!