Chapter 48 Background
"Sister Qing is your image consultant and business partner, and Chen Songqing is the owner of this Kinmen Building. You are here to take the post today. They are just saying that they will send peonies and bamboos." Chen Chong walked to the windowsill, picked up a rose, turned around in his hand, and asked, "How could Lin Xiufeng think of sending flowers to you?"
"Have you read the news briefing? Jianing Real Estate announced last week that it is preparing to transfer the 75 equity interest of this building to Bainingshun Group for HK$1.8 billion. Bainingshun is a company jointly established by Lin Xiufeng and his younger brother Lin Xiurong." Li Kaiyuan explained while looking at the documents: "According to the communiqué, the transaction will be completed next month, which means that the owners here will become Lin Xiufeng in the future."
Chen Chong suddenly realized and sighed: "The Kinmen Building is really in a tragic fate and is wandering. In less than a year, three owners were replaced."
In the east of the Central and Western District of Hong Kong Island, between Central and Wan Chai, there is a Feng Shui treasure land called Gong Jing. It was formerly the naval dock of the British army stationed in Hong Kong. After World War II, the Navy moved the Tama ship and it was vacant. In the early 1970s, Kinmen Construction defeated the powerful Land Group and grabbed a piece of land from Gong Jing. It built the Kinmen Building in 1975. In the same year, Jardinet Foreign Company took advantage of the stock market crash and took advantage of the opportunity to acquire Kinmen Construction and took the newly built building into the capital.
In 1978, Land Group bought Kinmen Building from Jardine Mall for HK$1.5 billion. A year later, Land Group decided to sell the building in order to deal with Bao Yugang's sniping at Hutchison Whampoa. Chen Songqing immediately rushed over to contact him after hearing the news. After a brief contact, on 10th, 19DU, the Kinmen Building was bought for HK$9.8 billion and renamed it Jianing Center.
Land Land Group bought with the left hand and sold with the right hand, making a net profit of 800 million yuan in one year. It is the largest single property transaction since the opening of Hong Kong. Once the news came out, it immediately caused a sensation in Hong Kong. The media and the public not only envied Land Land Group for making a big profit, but also were surprised by Chen Songqing's strong financial resources and luxury and magnanimity.
While acquiring Kinmen Building, Chen Songqing also made trouble in the stock market, spending HK$47.8 billion to acquire a shell company, renamed Jianing Real Estate to Jianing Real Estate, and then went public through a backdoor listing.
On July 1, Jianing Real Estate claimed to have paid the last payment "as scheduled", and some buyers were willing to pay HK$1.43 billion to acquire Kinmen Building. They made a net profit of more than 400 million in just half a year, which once again shocked the whole of Hong Kong. Jianing Real Estate's stock price rose sharply, from 05 per share at the end of U month to a market value of nearly HK$100 million per share.
On July, Jianing Real Estate announced that it had "in-depth negotiations" with merchants interested in purchasing Kinmen Building, with a price of about HK$1.5 billion. Since then, rumors have been reported in the market. Some say that Kinmen Building has been sold to buyers from the UK, and some say that it has not been sold yet. The buyers are Chinese, but no matter what the rumors are, the selling price is very high, which stimulates the stock price of Jianing Real Estate to rise further.
On August 14, Jianing Real Estate announced that it had reached a "preliminary agreement" with Bainingshun Group to sell the equity of Kinmen Building 75, with a price of HK$1.8 billion, the deposit has been paid, and the transaction completion time is September 13. Affected by this, Jianing Real Estate's stock price rose again, with a share of nearly HK$13 and a market value of more than HK$3 billion.
In one month, Jianing Real Estate's market value soared from 100 million to 3 billion, expanding faster than blowing a balloon, which is a myth. If Shen Chong hadn't made a genius speech in the United States that sold 400 million in three days, his name "God of Wealth" might have been snatched away by Chen Songqing...
"Bai Ningshun, Ia, HIam is the abbreviation of Lin Bingyan. It turns out that Bai Ningshun means Lin Bingyan's son." Chen Chong muttered a few words and said, "Young Master Lin is filial and named the company with his father's font. Unfortunately, although the meaning is good, he can't resist the trouble. He used UR10 million to buy half a year ago, and now he only bought 75 for 180 million. If Mr. Lin knew that his son was doing business like this, he would probably be so angry that he would come and beat him up."
Lin Bingyan is the founder and first chairman of Hang Seng Bank. He was a business tycoon who traveled across Hong Kong in the 1930s and 1940s. It is said that when he died in 1949, he left a huge legacy worth 300 million Hong Kong dollars, of which 100 million was designated for cultural undertakings. When Lin Xiufeng invested in Jiayi TV in the 1970s, he used that part of the legacy.
"Mr. Lin has been away for many years, don't talk nonsense."
Chen Chong was so angry that he repented, and then said, "I took out these roses and threw them away."
"what ever."
Chen Chong curled his lips, picked up a few roses with bright colors and perfect petals, inserted them in the middle of his bottle of lily, and said, "It's better to leave a little. Beauty is like a famous horse. If no one chases it, it will be lonely."
"I'm talking nonsense again." Li Kaiyuan looked up and gave him a blank look, and said, "Chen Songqing wants to ask you to play basketball."
"What ball is playing on this hot day?"
"You don't seem to have a good impression of him?"
"No, I've only met him once, not even a friend. Besides, I'm very poor at playing basketball."
"This place used to be called Kinmen Building, but now it is called Jianing Center. Mr. Chen is the owner of this office." Li Kaiyuan put down the documents, turned the office chair, and faced him, teasing: "He just robbed you of your prestige for a month. Don't be too petty. Do you want to dominate the headlines of major Hong Kong newspapers every day?
Headlines are a big deal to save the earth...
"I love vanity the most." Chen Chong made an unknown face and said, "Okay, when I have time, I will go play basketball."
"I don't know why you don't like him, but since you don't like him, you should go fishing, otherwise my mother might invite him to her home one day. You know, my mother made a lot of money by buying Jianing's stocks. Now, in Hong Kong, except for you, Mr. Chen is the most pleasing to her."
Chen Chong smiled bitterly, he was so tying himself...
During the Spring Festival, Aunt Liu took a sum of money that his neighbors had collected from before and asked Chen Chong to help with investment. Chen Chong took it over to lend him a loan to Li Ka-shing. After the money was recovered, he encouraged Aunt Liu to buy the stocks of Jianing Real Estate. When he entered the market, it was only over 5 yuan. By the time he returned from Beijing, it had already become more than 13 yuan. In two months, it had more than doubled, and Aunt Liu was so happy that she couldn't stop talking.
"Your mother didn't use her own money to buy the stocks of Jianing Real Estate, right?"
"No, my mother obeys your words, whatever you say is what you say." Li Kaiyuan asked suspiciously, "Since you are optimistic about Jianing Real Estate, why should you stay away from Chen Songqing? And don't let my mother invest more money to buy stocks?"
Chen Songqing's business practice is very simple. He uses the funds he borrows to create sensational big transactions, speculates the company's stock price, and then uses stocks as money, acquires them in large quantities, and expands wildly. If the stock market keeps bullish, it will not be a big problem, but once the stock market fluctuates, the capital chain will break and finally be finished.
Hong Kong's economy developed rapidly in the late 1970s, with an average annual trade volume growth rate of more than 30 stock markets also rose with the rise, becoming the most popular bull market in Asia. Many foreign financial companies poured into Hong Kong, bringing a lot of capital and real estate demand. The rent of top office buildings in Central increased from HK$U per square foot to HK$30 in 1975, the price of Mid-Level Mansions rose from HK$1.5 million to HK$RU0 million, the Hang Seng Index rose from less than RU0 to above UU points, and the stock trading volume rose from HK$197 billion in 1979 to HK$97 billion in 19RU. In this environment, Chen Songqing was like a fish in water and was in a prosperous state...
Now the whole of Hong Kong is filled with optimism and excitement. The sunken storm naturally does not mean that the Chinese-British negotiations in the year are in a deadlock, and the stock market will turn around and plummet. He opened the charlatan mode and said nonsense: "Chen Song Qingying looks at the wolf, and is not a good person. It is okay to follow him to pick some small gains, but he cannot have a deep friendship with him."
"Will you still meet?"
"I just learned some fur and am still studying it."
"You just like the things you talk about in the divine way." Li Kaiyuan didn't delve into it. After reading the documents, she stood up and said, "Let's go, go home first."
Chen Chong nodded, put away the roses scattered on the windowsill, and said, "It's a waste to lose them, take them home to coax Tianbao."
"You stingy guy" Li Kaiyuan came over, drew more than a dozen lilies from the vase, and said, "You bought too many, take some to raise. By the way, what were you writing when I came in just now?"
"I didn't write anything, I just drew a few pictures."
"What picture?"
Chapter completed!