The Industrial Giant Reborn

"Chen Sheng, 15% of the people have already signed an agreement with us. They will vote to approve our delisting request at the next general meeting of shareholders. After delisting, we will acquire 130% of the existing shares from them. Shares." At 4:00 p.m., after the shareholders' meeting, Zhou Jiayang came to report.

"In this case, there will be no problem. In addition, we have acquired almost 72% of the shares from other channels. The rest, let's buy slowly. In the future, Hutchison will not have any dividends. They will slowly agree. "Chen Zhiwen nodded and said: "Prepare to provide relevant information to the stock exchange. In addition, after delisting, my funds will also be injected into Hutchison, which happens to be able to dilute those shares that do not agree to sell stocks."

"In that case, Hutchison's current debt problem can also be solved." Zhou Jiayang nodded and said, although this kind of privatization operation is not very good, it does save a lot of money, otherwise, even if there is no previous reason The high stock price caused by the acquisition, the privatization also requires hundreds of millions of funds, and then requires capital injection, which puts too much pressure on funds.

The only sequelae is that there is no way to really buy Hutchison in an all-round way. There will always be some people who continue to hold it, and they may not even be able to find these people.

Chen Zhiwen went on to say: "In this way, our first task has been completed, but there is still a second one, Huangpu Company, how many shares do we hold in Hutchison?"

"It should be about 41%." Richard thought for a while and said: "Hutchison Holdings Whampoa, Whampoa Holdings Junyicang, both of which own a lot of land in Hong Kong."

"I want Hutchison to privatize Whampoa Company, how much capital do I need?" Chen Zhiwen continued.

"This may also require one or two hundred million yuan. Why do we do this?" Zhou Jiayang asked.

"Because I want to develop the Huangpu land in Hung Hom." Chen Zhiwen said.

"The port in Huangpu? But that piece of land is industrial in nature. If we want to turn it into a business, we need a few hundred million dollars?" Zhou Jiayang said with some hesitation. Regardless of the market value of the entire Heji, it is only a few hundred million. But this is because of heavy debts. In fact, the total value of its assets is as high as billions. There are 26 listed companies under its umbrella, and 8 of the top 100 companies in Hong Kong used to be.

They are Hutchison Group, Hutchison Properties, Whampoa Group, Junyi Warehouse Group, Capital Properties, Anderson, Watsons and Harbor Engineering.

Hutchison Real Estate, Whampoa Group, Junyi Warehouse, and Metropolitan Properties all own a large amount of land, among which the Whampoa Group holds the largest land. Decades ago, Whampoa Group, Jardine Matheson and Swire jointly controlled the three major ports in Hong Kong The area of ​​the three companies is about the same size. The port area of ​​Huangpu is as high as 2 million square feet, which is about 200,000 square meters. However, the location of the port is still in Victoria Harbour, and the surrounding businesses are also very good because of the former port effect.

But the only disadvantage is that the cost of switching from industry to business is very high. Otherwise, in Qi Dezun's era, with his character, Hutchison would have developed this land long ago.

"I'll figure out a way about the money." Chen Zhiwen said, "And the acquisition of Huangpu is not in a hurry. Let me tell you first. Next, we have to deal with the mess of Hutchison. You have to know my plan in advance."

"Okay, I understand. Do you want to privatize Junyi warehouse? Although the land area of ​​Junyi warehouse is not as large as that of Huangpu Group, but the location is very good. Several places are on Hong Kong Island, and some buildings are still under construction, just because Due to funding reasons, the progress of the project has slowed down a lot." Zhou Jiayang asked.

"No need, normal holdings are enough. You can't buy everything and privatize it." Chen Zhiwen shook his head and said.

Junyicang used to be a relatively well-known warehouse company in Hong Kong. It owned several warehouses and docks on Hong Kong Island. Hong Kong’s shipping industry was not behind, and it also began to build buildings. Under the arrangement of Qi Dezun, it is already under construction. It is the Kwan Yick Building in the Western District and the Wofu Center in the North Point, two relatively good-sized communities.

It is said that it is worth money, and it is naturally worth some, but this kind of land, even after 20 years, can be bought as long as you have money, so the importance is not very high.

And once the former port land of Whampoa Group is really developed as planned, the benefits will be great enough to become a record for Hong Kong real estate.

The reason why we didn’t wait for the 1980s to develop it like Li Jiacheng did in the past is because even in the 1980s, the development would make more money because of the low price, but in the 1970s, with such a sum of money, there will be Greater usefulness. Therefore, he needs to privatize Hutchison and Whampoa.

"Okay." Zhou Jiayang agreed.

"In addition, the news is released that Hutchison is going to sell some of its under-developed businesses, and some non-core businesses, which can also be sold. Let those who are interested come and talk about it." Chen Zhiwen said: "Except for the land property in the core location Projects, ports, Watsons, harbor works, everything else can be discussed.”

"Chen Sheng, if we act too urgently, we may be jointly lowered the price, which is not a good thing for us." Richard said.

"So just release the news and find a few companies to negotiate. We will sell to the highest priced one. If a project can only find one person willing to buy it, then there is no point in negotiating the price. Sell it as soon as possible." Chen Zhiwen shrugged Said.

Under Hutchison, there are many projects that have been suspended. Many of them are actually good projects, especially the real estate recovery that started this year, which will directly revive these projects. He sucked blood from Hutchison.

It is the most effective way to properly sell some sub-projects, obtain funds, and start other projects. Only after most projects are completed and profits can be made can the next round of investment be carried out.

Qi Dezun cared too much about being exclusive, unwilling to share with others, and was unwilling to sell Hutchison's fringe business for the sake of face, which led to Hutchison's long-term blood loss and eventually fell into a super predicament.

Of course, the slump in the real estate market may also be one of the reasons why Qi Dezun can't make a move, because once he makes a move, it needs to be included in the financial report, and if there is less loss data, he can transfer it. If there is too much, there is no way. It was contrary to Qi Dezun's policy of desperately maintaining the stock price at that time.

Nowadays, the whole Hutchison does not have too many worries. It only needs to be beneficial to do anything, which is much more convenient. The only purpose now is to quickly pull Hutchison out of the debt vortex.

"Then Chen Sheng, the 200 million Hong Kong dollars you said earlier?" Richard asked.

"After the delisting, the funds will arrive in the account." Chen Zhiwen said that Hutchison's current situation is indeed that it cannot continue to operate without money. In the past, HSBC controlled Hutchison and also provided emergency support of 50 million Hong Kong dollars. It was also a headache for Hutchison's bad debts. Later, he found the company's doctor Wei Li, and finally got rid of the burden.

"That's good. If we have this fund, many of our projects can be started. Regarding the plan for how to use this fund internally at Hutchison, Mr. Chen, I have almost prepared it here. Wait until 5 days later. I will introduce the board of directors in detail," Richard said.

"Okay." Chen Zhiwen nodded. In fact, this aspect is his weakness. Apart from being necessary, major surgery on Hutchison is also in line with his understanding. Making money, good ports are also profitable. Watsons and its ParknShop supermarkets are the basic livelihood of the people, and it is not a problem. The seaport projects normally receive large-scale construction projects, which are generally profitable, and the most basic income. rent.

For other types of businesses, if Chen Zhiwen wants to understand them in depth, it will take a little time, so it's better to sell them down, because they won't make much money anyway, so just use the money to develop a few core businesses.

"One more thing, since Hutchison has been delisted, should the board of directors be changed? Representatives of CLP Power and Hong Kong Telecom are still serving as directors of Hutchison." Zhou Jiayang asked.

"Send it off, let them resign themselves." Chen Zhiwen said.

"Should the board of directors be disbanded?" Richard asked. Although Qi Dezun had also controlled Hutchison before, it was not absolute control in name, so there was also a board of directors, which also invited outsiders. manage.

"There's no need to disband. Some of our internal staff will retire. I will invite some famous people from the outside world to be consultants. Sometimes, the views on some things may be different from the outside." Chen Zhiwen After thinking about it, he said.