We're building a super chaebol in Hong Kong

With the crude oil procurement settled, Su Cheng breathed a sigh of relief.

He had been preparing for this for a long time, and unless he made several billion, his efforts wouldn't be worth it.

"By the way, boss, there's something I need to report to you," Zhang Qizheng said suddenly.

"Oh? Tell me," Su Cheng said curiously.

"You should know about Hong Kong Electric Holdings Limited, right?" Zhang Qizheng asked.

"Of course, it's one of the two major power supply companies in Hong Kong, and I heard they own a lot of land on Hong Kong Island," Su Cheng said with a smile.

Hong Kong Electric Holdings Limited, formerly known as The Hong Kong Electric Company, was founded in 1889, abbreviated as HKE. Its power supply range mainly covers Hong Kong Island, Ap Lei Chau, and Lamma Island, making it one of the oldest power companies in the world.

The other power supply company is CLP, which supplies power to Kowloon and the New Territories, as well as Lantau Island, Cheung Chau, and some smaller islands.

"Our newly purchased Nanyang Refinery, isn't it on Lamma Island? The person in charge of Hong Kong Electric Holdings Limited, G.M.B. Salmon, contacted us. Due to the increasing power shortage, they need to build a larger power plant that can flexibly use fuel. They have their eye on the location of the Nanyang Refinery on Lamma Island and hope we can sell that land to them," Zhang Qizheng said.

At the same time, he took out a few pages of information and handed them to Su Cheng.

"This is the information I had Brother Wu investigate. Boss, take a look," Zhang Qizheng said.

Su Cheng nodded and took the information to read.

It turned out that Hong Kong Electric Holdings Limited's previous power station was located in North Point, not far from the Tianyuan Building, at the Electric Road Power Station.

Since the 1950s and 60s, North Point had gradually developed into a dense residential area due to its proximity to the city center. Therefore, it was decided to relocate the power station, and a large oil-fired power plant was eventually built in Ap Lei Chau, in the southern part of Hong Kong Island.

However, with the gradual rise of Hong Kong's economy, the use of electricity on Hong Kong Island has increased, and with the outbreak of the oil crisis in 1973, Hong Kong implemented energy controls that year, resulting in frequent power shortages at the Ap Lei Chau Power Station, which used fuel oil to generate electricity.

Therefore, Hong Kong Electric Holdings Limited now wants to rebuild a power plant that can flexibly use fuel to support the power supply on Hong Kong Island.

And Po Lo Tsui, located on Lamma Island, has become the target of Hong Kong Electric Holdings Limited.

The information also reminded that Hong Kong Electric Holdings Limited is a very profitable company. In addition to power supply, it has also diversified into areas such as property development and management, technical services, retail, advertising, and finance, with extremely strong earning power.

Due to the long history of Hong Kong Electric Holdings Limited, they own many plots of land, such as the old site of the Electric Road Power Station in North Point, No. 8200 Inland Path, Jardine's Lookout, and many plots in Tsuen Wan.

These places used to be very remote, so the power company, Hong Kong Electric Company, easily held these plots of land at that time.

But with the urban development of Hong Kong, these places have long become urban areas, and their value has increased many times over.

Especially the old site of the Electric Road Power Station in North Point and No. 8200 Inland Path, Jardine's Lookout, the valuation of these two plots of land exceeds HK$2 billion.

Moreover, Hong Kong Electric Holdings Limited, as a publicly listed company, has never had a family-owned major shareholder.

Su Cheng's eyes lit up when he saw this.

Why had he planned for five years to take down Hutchison Whampoa? Wasn't it because he had his eye on Hutchison Whampoa's land!

In the future, land in Hong Kong will become more expensive.

It might be worth trying to acquire Hong Kong Electric Holdings Limited.

You should know that the electricity business is almost a monopoly. Just like the north side of Hong Kong is monopolized by CLP, and the south side is monopolized by Hong Kong Electric Holdings Limited. There are no other competitors at all. The result is that this business is guaranteed to make money without losing.

And last year, Hong Kong Electric Holdings Limited's consolidated net profit reached HK$684 million, of which electricity sales profit was HK$411 million, and the remaining real estate, financial management, retail, etc. profit reached HK$273 million, accounting for 40% of the entire Hong Kong Electric Holdings Limited's profit.

"How much are they offering?" Su Cheng asked with a smile, putting down the information.

"Very sincere, they directly offered HK$5 million," Zhang Qizheng said with a smile.

Su Cheng nodded, indeed very sincere.

You should know that when they purchased Nanyang Petroleum Company in June, they only spent more than HK$2 million. Now it's only August. In just less than two months, they have doubled their profit. It can be seen that Hong Kong Electric Holdings Limited is determined to buy that land.

Su Cheng also learned from Xiao Ai that according to the original historical development trajectory, Hong Kong Electric Holdings Limited also determined this year to build a power plant at Po Lo Tsui on Lamma Island, and in order to build a larger scale, it also expanded a lot of land outward in the form of land reclamation. Finally, the Lamma Power Station at Po Lo Tsui will start production in 1982.

After understanding this history, Su Cheng also couldn't help but feel that this was too coincidental.

If Su Cheng hadn't bought Nanyang Petroleum Company, Hong Kong Electric Holdings Limited should have easily obtained the land at Po Lo Tsui and built a power plant.

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Now that he has bought Nanyang Petroleum Company in advance, if they want to build a power plant there, they must obtain consent from his side.

"Tell them that it is okay to sell to them, but we have to wait until the beginning of next year," Su Cheng said.

Currently, Nanyang Refinery on Lamma Island has built a small part of the oil storage tanks, and there is also complete refining equipment there. Naturally, it cannot be sold to Hong Kong Electric Holdings Limited in such a hurry.

After a while, after gradually moving all the refining equipment there to the Tuen Mun oil base, and selling all the crude oil in the oil storage tanks, it can be sold to Hong Kong Electric Holdings Limited.

"Okay, boss, I will reply to the person in charge of Hong Kong Electric Holdings Limited later," Zhang Qizheng replied.

"Do you know about the shares of Hong Kong Electric Holdings Limited?" Su Cheng asked.

"I know. Currently, the number of shares issued by Hong Kong Electric Holdings Limited is 630 million, and the stock price per share fluctuates between HK$5.8 and HK$6.2. And because there are many ordinary small shareholders, the liquidity of Hong Kong Electric Holdings Limited's shares on the market is very high," Zhang Qizheng nodded and said.

The stock price per share is around HK$6, and there are 630 million shares in total, which means that the current market value of Hong Kong Electric Holdings Limited on the stock market is less than HK$4 billion.

And with its profitability, this is indeed a rare high-quality stock.

Such a listed company does not have a family shareholder in control. Not acquiring it would simply be letting it down.

"Starting today, you will reorganize a trading team and secretly absorb the shares of Hong Kong Electric Holdings Limited on the stock market at a low price. Like Hutchison Whampoa, you must acquire it on the market without others knowing. Confidentiality is very important. I will transfer HK$200 million to the Tianyuan Company's account first. If you run out of money, come to me again," Su Cheng said directly.

Because the actual purchase price of crude oil was lower than the original price, Su Cheng saved a lot of money. This money can be taken out and used.