We're building a super chaebol in Hong Kong

While a new board meeting was intensely underway at Wheelock Group, within the bustling Central district's China Building, a discreet conference room at Cheung Kong Holdings was also enveloped in a tense and focused atmosphere.

This conference room gathered Li Chaoren's elite team and the group's think tank, their eyes gleaming with anticipation and determination towards the unknown challenges ahead.

Inside the conference room, the air seemed to solidify, each breath accompanied by deep contemplation of the future.

Two years prior, after acquiring Hutchison Whampoa in Su City, Li Jiacheng had similarly convened his subordinates to discuss matters. Now that the acquisition of Hutchison Whampoa had failed, a new challenge quietly emerged: finding the next British-owned conglomerate worthy of conquest.

More importantly, Chairman John Marden of Wheelock Group had hinted at a willingness to sell, like an unexploded bomb, giving Cheung Kong Holdings a glimmer of opportunity.

Despite previous unsuccessful attempts to sell, Cheung Kong Holdings' think tank firmly believed that opportunity favors the prepared.

They felt that once John Marden or his successor considered stepping down again, Wheelock Group's future might face a major turning point.

And Cheung Kong Holdings was precisely that well-prepared, poised hunter.

However, this acquisition battle was not a smooth journey.

Jardine Matheson, as a competitor also coveting Wheelock, had already been secretly planning. The contest between the two on the stock market was silent yet fiercely intense.

Although Cheung Kong Holdings' team tried their best, facing Jardine Matheson's powerful opponent, progress remained slow. To date, they only held 9.7% of Wheelock Group's shares, not yet reaching the critical point to influence the situation.

"Distinguished colleagues, we stand at a crucial crossroads. We have two paths before us: one is to choose to give up, which means we need to quickly adjust our strategy, look for opportunities to properly dispose of the Wheelock shares in hand, and turn our attention to other acquisition targets with more potential;

the other is to continue to persevere, but we must be soberly aware that this road may be long and full of unknowns, and the final result is likely not as we wish. Our opponent is too strong. To continue forward, we need greater determination and wisdom to face a possible fruitless endeavor.

I know that every attempt and challenge is accompanied by risks and uncertainties, especially for someone like me who is over half a century old. Past setbacks have undoubtedly left marks in my heart.

However, I also believe that it is these experiences that have shaped us today, making us more resilient and better at finding opportunities in adversity.

Now, I hope everyone can communicate frankly and pool our wisdom. We must not only discuss how to deal with the current difficulties but also plan a new blueprint for the company's future development.

Whichever path we choose, it must be based on our team's shared belief and determination, as well as a deep understanding of market trends.

Let us work together, whether we continue to move forward or adjust our direction, let us maintain that desire and pursuit of success, and jointly create a more glorious tomorrow for Cheung Kong Holdings."

Li Jiacheng's words revealed a complex and profound emotion, with both reminiscence of the past and expectations for the future. He used his own experiences to inspire the team to face challenges together and seek new development opportunities.

In fact, Li Jiacheng's business philosophy has always been to actively seek development while maintaining a steady pace.

In the past two years, although he failed to successfully acquire Wharf and Hutchison Whampoa, this did not bring him substantial losses.

On the contrary, in the buying and selling of Wharf shares, he skillfully operated and realized a considerable profit of sixty million Hong Kong dollars.

As for Hutchison Whampoa, although the acquisition was unsuccessful, he also ensured that the investment in this process was properly managed, without causing any unnecessary losses.

In these two years, Cheung Kong Holdings Group has developed rapidly, not only achieving significant success in the real estate sector in Hong Kong, but also expanding its business to Singapore and other places, demonstrating its strong expansion capabilities and market adaptability.

Today's Cheung Kong Holdings Group is already a force to be reckoned with.

However, Li Jiacheng is very clear that although Cheung Kong Holdings Group is strong enough, there is still a certain gap compared to that world's richest man in Su City.

This sober awareness makes him more cautious in considering the future strategic direction.

Therefore, after weighing the pros and cons, he is more inclined to advocate giving up the continued acquisition of Wheelock Group and instead investing energy and resources in areas that are more certain and more in line with the group's long-term development.

Such a decision reflects not only Li Jiacheng's vision as a successful entrepreneur but also his deep consideration of the future development of Cheung Kong Holdings Group.

Convening this meeting, Li Jiacheng knew that he needed to obtain the unanimous approval of the team to ensure the smooth progress of subsequent actions.

After all, as a listed company, Cheung Kong Holdings Group, although he plays a key role in decision-making, the collective wisdom and consensus are equally indispensable.

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"Mr. Chairman, after in-depth discussions by our think tank, we believe that giving up the continued acquisition of Wheelock Group is a wise choice.

The Hong Kong market still contains rich opportunities, especially in the British-owned enterprise sector. Apart from Jardine Matheson, which we cannot reach for the time being, Swire Group is undoubtedly a potential target worth considering in depth.

In addition, there are many medium-sized, promising British-owned enterprises waiting for us to discover.

Regarding Wheelock Group's shares, we propose a flexible strategy. We can first send a tentative signal to Mr. Su City to understand whether he intends to take over the entire package.

Given that we have always focused on absorbing low-priced stocks, the current cost of holding Wheelock shares is relatively low. If we have the opportunity to transfer them to Mr. Su City, we can not only exit safely but also realize a considerable profit, which is undoubtedly an effective increase in the company's assets.

As for the next acquisition plan, we advocate maintaining a cautious and optimistic attitude and first conducting a comprehensive and in-depth review of the market.

Only when we find a target that not only meets the group's development strategy but also has good growth potential will it not be too late to take decisive action.

We believe that with everyone's joint efforts, Cheung Kong Holdings Group will be able to seize more opportunities and achieve a more brilliant future!" The head of the think tank stood upright, representing the entire team in expressing their thoughts.

(End of this chapter)