We're building a super chaebol in Hong Kong

Central, on the top floor of the Su's Group Building, in Su Cheng's private reception room.

After finishing dinner, he brought Zhong Chuhong here.

Su Cheng sat on the sofa, leisurely drinking the Biluochun tea from Taihu Lake that Zhong Chuhong had brewed for him.

The Biluochun tea had a clear green color and a refined taste that lingered for a long time, which Su Cheng quite enjoyed.

Not far from the tea table, a custom-made tea cabinet displayed various famous teas, including Chinese famous teas and world-renowned teas.

At this moment, an employee came to report that Yan Chengkun of China Motor Bus had arrived.

"Bring him up," Su Cheng said.

Looking at the time, it was only 7:37 PM, while their agreed meeting time was 8:00 PM.

This showed that the head of the Yan family could not wait to meet with Su Cheng.

In reality, the Yan family no longer knew what to do.

They held 33.3% of the shares, and selling them was something they were unwilling to do, as China Motor Bus was a company they had built up from scratch.

But not selling would mean they could no longer maintain control of China Motor Bus.

Tian Yuan Investment Company, holding over 50% of the shares, could completely act unilaterally regarding China Motor Bus, without regard for the opinions of other shareholders.

Under such circumstances, Yan Chengkun was at a loss.

A few minutes later, Su Cheng met the elderly man, who was just eighty years old.

Yan Chengkun wore black-framed glasses, a beige suit, and a worried expression on his face.

Su Cheng stood up to greet him, smiling as he said, "Welcome, Mr. Yan."

"Mr. Su, hello. I didn't expect we would meet under these circumstances. It truly is a case of the younger generation surpassing the old," Yan Chengkun said with great emotion as he shook hands with Su Cheng.

"Mr. Yan, please sit down and have some tea first," Su Cheng said, not continuing with the polite self-deprecation, and smilingly gestured to the sofa.

After Yan Chengkun sat down, Su Cheng poured him a cup of tea.

Although the Yan family was no longer on the same level as him, they were still seniors in the Hong Kong Chinese-owned consortium, and besides, he had just forcibly acquired their company, so Su Cheng still showed some respect.

"Mr. Su, I would like to know, why would you be interested in our China Motor Bus, which is just a company with a market value of less than one billion Hong Kong dollars?" After drinking a cup of tea, Yan Chengkun could not wait to ask the question he had been wanting to ask.

"Mr. Yan, as the founder of China Motor Bus, you should also know that the current stock price of China Motor Bus is far below its actual value, which is why I acquired China Motor Bus," Su Cheng said truthfully.

"The actual value of our China Motor Bus is only due to the value attached to those land parcels. Without development, the land has no value. Only bus operations are our main source of revenue. But our current annual turnover is only over thirty million Hong Kong dollars. This small amount of money, to Mr. Su, is probably just pocket change. Why would you go to such lengths to fight with our Yan family for control of China Motor Bus? Could it be that the Yan family has offended Mr. Su?" Even at his age, Yan Chengkun couldn't help but complain when facing Su Cheng.

In Yan Chengkun's view, what was the use of China Motor Bus having a high actual valuation? It was still a company with an annual turnover of only over thirty million Hong Kong dollars. Why would someone with assets of tens of billions like Su Cheng compete with him for such a small company?

"Mr. Yan, to be honest, I have my reasons for acquiring China Motor Bus. Since you chose to list China Motor Bus, you should have expected this day to come. Business is business, and Mr. Yan has more experience in this area than I do, so I won't say too much. My acquisition of China Motor Bus is purely a business transaction. You have not offended me, but I believe that if the current China Motor Bus is developed, the annual profit will definitely increase significantly.

Your management model is too conservative, which has led to the continuous depreciation of China Motor Bus, a good company, on the stock market. I saw its value, and when it was possible to acquire it, I naturally went ahead and acquired it. Mr. Yan, don't think too much. Besides, I am now the controlling shareholder of China Motor Bus. This matter cannot be changed. Mr. Yan, further investigation will be of no use," Su Cheng rarely said so much to this senior figure.

"China Motor Bus has been around for 46 years since its founding. Over the years, I have worked diligently and thriftily to manage the company, personally handling everything, striving to minimize the company's operating costs, and the profit margin is much higher than that of Kowloon Motor Bus. Under such circumstances, Mr. Su, you say my management methods are not good, and I absolutely object!"

Speaking on this topic, Yan Chengkun was obviously unwilling to admit defeat.

"The declining status of China Motor Bus in Hong Kong is a fact, isn't it? I think Mr. Yan should be clearer than I am," Su Cheng replied.

In the fifties and sixties, that was the glorious moment of China Motor Bus.

At that time, Yan Chengkun also received many honors, serving concurrently as the chief legislator of the Legislative Council, receiving the OBE and CBE medals awarded by the Queen of England, and so on.

And Yan Chengkun was also known as the Bus King of Hong Kong, so you can imagine how high his status was.

But after the seventies, the status of China Motor Bus plummeted. Ultimately, the reason was that Yan Chengkun's over-conservatism in management decisions led to China Motor Bus's failure to keep up with the times.

Yan Chengkun's stubborn personality was the biggest reason for the decline of his bus kingdom.

"This is only because buses are no longer everyone's only choice. Many people own private cars, and there are taxis, etc., so buses are no longer so important," Yan Chengkun was still finding reasons for himself.

"The number of private cars in Hong Kong is indeed increasing year by year, and taxis also greatly facilitate the travel of citizens, but private cars are ultimately a means of transportation for the wealthy, and the high price of taxis is not something ordinary people can afford to ride often. As far as I know, the passenger volume of Kowloon Motor Bus in the north is increasing year by year, and China Motor Bus is the same. In theory, your importance is even higher, so why is your status getting lower and lower? The ultimate reason is still your inaction in service, which has led to many customer complaints, causing the current China Motor Bus to no longer be respected.

No matter which city in the world, ordinary people account for the majority, and buses, as the preferred mode of transportation for the common people, will never lack customers. However, the bus industry is a service industry, and since it is a service industry, we must do our job well, even if it is just a cheap service industry! In comparison, Kowloon Motor Bus's service is much better, and it is also supported by the people. Look at the annual turnover of Kowloon Motor Bus, isn't it much more than China Motor Bus?" Su Cheng naturally opposed Yan Chengkun's management philosophy.

(End of chapter)