Reborn Tycoon Rise

After Mrs. Thatcher stayed in the capital for a few days, she came to Hong Kong again.

The next day after the content, he immediately stood up.

at the same time.

…

Media outlets representing both sides went back and forth, declaring war from a distance, which caused waves of panic. The collapse of the real estate market was the first to bear the brunt. In just one week, the average transaction price in Xiangjiang fell by 20% to 30%. %, with the biggest declines occurring in industrial land and high-end residential buildings.

The selling price of industrial land in Kowloon Bay based on floor area was HK$360 per square foot in December 1980, but by October 1982, it was only HK$25 per square foot, a 93% drop.

Some residential land on Hong Kong Island has also dropped from HK$1,500 to HK$540 per square foot.

But in fact, the real decline has not yet fully emerged. At this moment, any intermediary agency in Xiangjiang is almost surrounded by people. These people are not here to buy houses, but all are selling.

Some of them are self-sufficient, but most of them are various speculators. Some of them even spent their retirement money or borrowed money from relatives to invest. Under leveraged financing, they doubled their gains when they made money, but now they are losing money. At that time, the losses doubled.

In today's market, there are only people selling, but not many people buying. Among them, there are also some gamblers who hope that the current situation is only temporary, so they can buy it at a low price now and make a lot of money in the future.

However, ideals are beautiful, but reality is cruel. In order to increase confidence in the real estate market, the Hong Kong government held a real estate auction in early October, which included some commercial and residential land in good locations.

But the final result was that more than half of the land parcels failed to be auctioned. Most real estate companies went to the auction not to auction these parcels of land, but to know the market conditions of the entire real estate industry up close.

In the real estate industry, the most important thing is confidence, but everyone wants to count on others to invest huge sums of money to support the market. The final result is that no one cares about the land, not even Real Estate, which has always been called the "big friend of real estate". Being willing to give up, everyone understood that a real estate crisis had officially arrived.

Many companies in Hong Kong have also been affected.

The structure of small companies is simple, and many bosses have already prepared the funds to travel. Now they are in a state of observation. If anything goes wrong, they will immediately buy a ticket and leave.

As for large companies, such as several major British-funded giants and Chinese-owned real estate companies, their main assets and connections are in Hong Kong. Although they also have some overseas funds, if they leave their home city of Hong Kong, they may immediately return to before liberation overnight. The front line was narrowed and preparations were made to survive this cold winter.

Although they are inseparable from Xiangjiang, the ability of giant companies to withstand crises is generally good. However, one company is special. It has many "assets" but is actually a fat man.

On September 26, 1982, the third day of Iron Lady wrestling, Carinine released its interim results, with a profit of HK$270 million, an increase of 27.5% over the same period last year, and announced a dividend of 1.2 cents per share.

However, the plummeting land prices and stock prices still violently attacked Jia Ning's stock and market prospects. On October 26, Jia Ning suddenly announced that it would cancel its mid-term dividend payment and replace it with 3-year bonds. It also prepared to issue 500 million Hong Kong dollars. Preferred shares are used to raise funds.

This move immediately detonated the entire stock market, and everyone knew that Carnegie must be in serious trouble. Although Carnegie's executives repeatedly emphasized that this was the company's preparation for the next round of investment, Carneah's stock still fell one day. Within a day, it fell by 30%, from HK$1.52 to HK$1.02 per share.

Affected by this, the entire Hong Kong stock market also fell sharply, and the panic of countless investors caused greater losses. The Hang Seng Index fell below the "psychological defense line" of 800 points, and the total market value of the stock market lost HK$13.2 billion in one day.

For Chen Songqing, another bad luck is that Jianing's long-term partner, Chen Songqing's guide, Zhong Zhengwen, chairman of Yida Group, made a donation and fled overseas on November 1, leaving behind 2.1 billion Hong Kong dollars. huge debt.

The Independent Commission Against Corruption and the police immediately took over the entire Yida Group, and successively discovered that several cooperation projects between Yida and Jianing had huge financial problems. Fortunately, there was no guarantee relationship between the two of them. Chen Songqing learned from Yida’s investigation He escaped temporarily, but as a result, he became the focus of the police's Economic Crime Investigation Section.

The Hong Kong Stock Exchange used this as a reason to veto the HK$500 million fund-raising plan of Jia Ning Group.

Central, Golden Gate Building:

Two years ago, this was the most famous building in Hong Kong. From HK$750 million in 1978 to HK$1 billion in the early 1980s, to a transaction price of HK$1.7 billion at the end of 1980, in just two years, a building sold The price has more than tripled, and Kinmen Tower has become synonymous with Xiangjiang’s real estate prosperity.

However, this transaction was actually still a left-hand to right-hand transaction. Chen Songqing took advantage of fake news and the accumulation of capital in the stock market to make a huge profit from it.

This is his normal operating method, financing from the stock market or borrowing from banks and various financial institutions, and then using the money to buy properties. Although the interest on the loan is high, when the real estate market is developing well, house prices rise. much faster than interest growth.

As house prices continue to rise, Chen Songqing will have more and more real assets. As long as the amount exceeds the loan, all the previous bad records can be completely wiped out, and Jia Ning can also get rid of the current method of using loans to support loans. , thus truly becoming a company with normal operations.

From 1978 to the beginning of 1982, house prices in many areas of Xiangjiang increased by 2-3 times. Taking into account the leverage effect of real estate, the profits of real estate companies were even higher. In fact, Jia Ning could have escaped from the whirlpool of fraud long ago. , but greed is the only nemesis of victory. As long as you wait and wait, the profits will be higher.

What awaited in the end was a plummeting land price, a stock market crash, and the company's liquidity was exhausted but it was still heavily in debt. Everything Chen Songqing had planned before was wiped out because of this drop in land prices.