The Industrial Giant Reborn.

Chapter 244 General Meeting of Shareholders
On March 3, the Wharf Shareholders' Meeting was held at the Miramar Hotel on Nathan Road, Tsim Sha Tsui, Kowloon.

The reason why I chose this place is because this hotel is located on the Kowloon Peninsula with a long history. The land was cheap when it was newly built, so the area is large enough. There is a large conference hall that can accommodate a large number of people, which is just right for a large number of people in Wharf. minority shareholders.

The staff of Wharf are carefully checking the identities of the shareholders and their respective voting rights at the entrance of the conference hall. Today's vote will determine the future ownership of Wharf. If something goes wrong, these small employees will definitely be the first bad luck.

In addition to the various shareholders, some important company employees and media reporters can also enter. At this moment, almost all Xiangjiang media rushed over.Shareholders' meetings are not uncommon in Hong Kong. Even if it is held by the Jardine Matheson Group, it is impossible to attract so many media. The reason for this is naturally the dispute over management rights today.

The Hong Kong government, the Jockey Club, Jardine, and HSBC are known as the four major forces controlling Hong Kong. Although Jardine seems to be a little bit uneasy at the moment, it is still one of the most influential consortiums in Hong Kong. This shareholders meeting is a Chinese capital challenged the No. [-] giant among British capital and wanted to acquire the most powerful company under British capital, which naturally attracted the attention of almost all media.

After more than an hour of stock verification, hundreds of shareholders entered the venue. It does not mean that there are only these qualified Wharf shareholders, and there are many people who may not come at all, either they don’t care about this kind of thing, or Just keep an eye on it elsewhere.

This is also where the management of Western companies is strong. Even if it is a general meeting of shareholders, it is difficult to recruit all the shareholders. Unless a big business mistake is made, it is difficult to gather enough shareholders to threaten their Management rights, even Qi Dezun in the original history, almost bankrupted Hutchison, but if HSBC hadn't come forward to gather shareholders, it would have been impossible to drive them away.

The general meeting of shareholders officially begins:
The first person to come forward was the current head class of Wharf, a British ghost named Mooney, who is known as Jardine's No. [-] figure, but he basically doesn't appear in front of the media's attention, and even Chen Zhiwen only heard about it. I've seen him, but I haven't seen him.

Mooney read the information he had prepared long ago in front of the microphone. Last year, Wharf made a total profit of 1600 million Hong Kong dollars. In January and February of this year, it completed two projects successively and the total profit attributable to the parent company was 310 million Hong Kong dollars. .

After Mooney announced all the data, the shareholders below immediately started whispering and chattering. Many of the people who came here were acquaintances, so it was normal for them to communicate with each other.

"Everyone, if possible, can you let me say a few words." Chen Zhiwen also politely asked the people below for 2 minutes, and he would speak again when the voices below became quieter.

The people below naturally knew who was speaking just now, and immediately fell silent after hearing Chen Zhiwen's request.

Chen Zhiwen pointed at the microphone in front of him and said: "Mr. Mooney, a company in Wharf is enough to be a top ten large enterprise in Hong Kong. Why is the annual profit only 1600 million Hong Kong dollars? As far as I know, many large-scale Smaller Chinese-funded companies can achieve a net profit of 8000 to [-] million Hong Kong dollars a year."

"That's because the Harbor City project has dragged down the company's capital chain, but according to the construction plan, when the Harbor City project is about to be completed in 1980, the company can get a lot of rent in reverse." Mooney explained, In fact, everyone knew this question, but he also knew that Chen Zhiwen must have good intentions in asking this question.

"Has it been almost ten years since the construction of a harbor city?" Chen Zhiwen said with a light smile, "Why is the efficiency so low? The Hongkong Land Group's Kangle Building is 52 floors high, and it only took 16 months. Why are you both in Jardines?" Under the group, there is such a big difference in efficiency?"

"It's not because of low efficiency, but because of funding issues." Mooney said with some reluctance: "Although the height of Harbor City is not as high as the Connaught Building, it is much more difficult to build and requires more funds."

"No matter how much money is needed, it is not an excuse that it has not been completed in ten years. In ten years, the Hong Kong market has changed a lot. The whole Wharf has also missed the biggest development time. Before December last year, The market value of the entire Wharf is barely one billion Hong Kong dollars, not to mention those big British-funded companies, even those few Chinese-funded companies have almost reached this level." Chen Zhiwen said coldly: "In ten years, Wharf The stock price of Wharf has hardly changed, I think everyone here, holding Wharf shares, is it a very failed investment, right?"

"Yeah, it's a big loss, so hurry up and step down?"

"Those who are able can live there, ghosts, hurry back to England."

"."

In the auditorium below, many shareholders took the opportunity to shout. Among the hundreds of people, there will always be a small number of people who are persuaded by Zhou Jiayang to become the leaders against British capital. Driven by them, the people around them also Start talking out loud.

"Chen Sheng, what you said is wrong. The investment in Harbor City is almost 20 billion Hong Kong dollars. With so much money, even Hong Kong Land will have the same ending, but now that it is about to be completed, Wharf will add a super-large one at a time." Large-scale commercial rent-collecting properties, in the future, even relying on rent collection, can earn one or two hundred million a year. Coupled with the rise in property prices, this is the real high investment and high return. Chen Sheng may be too young. I don’t have much experience yet.” Niu Bijian said with a smile.

"But I still missed the golden decade of development. I, Galaxy Real Estate, started to invest in properties in 74. The initial capital was about 1 million Hong Kong dollars. With the investment in various industrial real estate and some subsequent property development, the current total assets The scale is close to one billion Hong Kong dollars, and the cash in hand is 3 million, which is almost ten times that? If Wharf is also like this, then the current scale may have already surpassed Landmark, right?" Chen Zhiwen said with a light smile, The past investment projects of Galaxy Real Estate is not a secret. A reporter can actually find them with a little effort.

"The scales are different, how can the calculation methods be the same?" Niu Bijian sneered.

"It's different, but Wharf should have 74 million Hong Kong dollars in its hands in [-], right? Why didn't it become one billion Hong Kong dollars?" Chen Zhiwen asked rhetorically.

"Chen Sheng has earned so much, in fact, it is only due to the increase in land prices. My Wharf owns a large number of high-quality land. Over the years, the valuation has also doubled, but it is not cashed out?" New York Bi Jian said.

"It is because of your strategy of not developing that Wharf is in today's predicament." After Chen Zhiwen got the words he wanted, he immediately stood up with a microphone in his hand and said, "Everyone, today's shopping malls in Hong Kong, Earth-shaking changes have taken place from ten or even five years ago, the most obvious of which is that the once weak Huazi has become stronger.

Not to mention seniors like Bao Yugang, even Li Jiacheng, Hu Yingxiang, Zheng Yutong and others have used their vision, courage, and opportunities to develop successfully in less than ten years. Among them, Li Jiacheng's Cheung Kong Industry is even more outstanding , although the attempt to acquire Wharf failed, it is worthy of being recorded in our Hong Kong history.

The rise of Huazi relies on real estate, but it is very strange that Huazi real estate company did not have any land in the early stage. Li Jiacheng was in the plastics industry before establishing a real estate company. They returned to the United States and started their business. They had no land, but after more than ten years of hard work, they became a real estate giant in Hong Kong, and the market value of the company in their hands was approaching one billion.

However, companies like Wharf have a long history and countless high-quality land in their hands, making countless Chinese real estate companies jealous, but these companies, after decades of development, will only stand still and have no growth at all. ability.

This is also the reason why the stocks in your hands have not risen in ten years. Some people attribute the mistakes of Wharf to the construction of Harbor City, but they don’t know that the project scale of the Blue Chimney Wharf that Mr. Zheng Yutong bought in 1970 is not at all. It is lower than Harbor City, but this does not affect other businesses.

Therefore, the root cause of all this is nothing more than an incompetent management behind Wharf.

So here today, as the largest shareholder of Wharf, I convene this general meeting of shareholders to remove this incompetent board of directors and elect better people, one who can make Wharf the same as Huazi Real Estate Company, for a few years. Doubling it tenfold, the value of each share in everyone's hands is more than one hundred Hong Kong dollars. Wouldn't it be better? "

"Okay." Below the conference hall, several voices rang out, followed by the sound of applause. After a while, many people below applauded.

Niu Bijian's face was livid with anger, what Chen Zhiwen said, he almost grabbed him by the collar and called him a waste, but he couldn't refute it, because the example he gave was also correct.

However, this is not just Wharf's stretching. How many British-funded real estate companies in Hong Kong do not stretch?Perhaps it is better than Swire Group, but he can only say that he develops his own assets in the most conservative way. Wharf is actually the same, but he has been betting on the future, and the price is the current growth.

Below the conference hall, apart from ordinary stockholders, there are also many bigwigs, including Shen Bi, Li Jiacheng, Zheng Yutong, etc. After all, it was Chen Zhiwen who snapped up Wharf. Not on this important.

"If you always use me as an example, then I will become a thorn in the side of Yingzi." Zheng Yutong smiled helplessly.

"Why do you care about them? If Chen Zhiwen succeeds this time, we Chinese will stand up, and we can completely confront the British capital in the future, and what Chen Zhiwen said is right, there are not many British capital in Hong Kong who will develop real estate. In the end, you have to beg us." A person beside him said with a smile, if Chen Zhiwen was in front of him, he would definitely recognize him as Li Zhaoji, the chairman of Henderson Industrial.

"You are really confident." Zheng Yutong said with a smile.

"It's not me, it's Chen Zhiwen, it's like this today, don't you have confidence that he will play like this?" Lee Shau Kee laughed.

"That's right, almost 40% of the shares are already owned. As long as a small group of people behind this group agree, the matter will basically be settled." Zheng Yutong shook his head and said, "I was very envious when Chen Zhiwen bought Hutchison. Land, but now that Wharf has been acquired, I am numb.”

"Yes, although Wharf's land is not comparable to Hutchison in terms of quantity, its quality is much higher. There are several pieces of land on Hong Kong Island." Lee Shau Kee said, "Maybe we will have a chance."

"What do you mean? You want to cooperate with Chen Zhiwen to develop these lands after he acquires Wharf?" Zheng Yutong asked.

"Don't you want to?" Li Zhaoji asked.

"I'm thinking about it, but it's a bit difficult. Look at that one, is he calm?" Zheng Yutong pointed in the direction, and the middle-aged man with black-rimmed glasses behind him was Li Jiacheng.

Zheng Yutong added: "Chen Zhiwen bought about 10% from Li Jiacheng. You said that if Chen Zhiwen succeeds in buying some land in Wharf, who do you think he will choose to cooperate with?"

"Yes, Li Jiacheng ate a lot after him." Li Zhaoji shook his head and said.

"That's a bit of a skill, otherwise, you were the first to attack Wharf, and now these benefits are yours." Zheng Yutong laughed.

Li Zhaoji shook his head and said: "Forget it, I don't have that courage. I think it's normal for Chen Zhiwen to attack Yingzi, but I didn't expect Li Jiacheng to dare. Although he failed, he was also the first among us, and now He sold the stocks in his hand to Chen Zhiwen, which is really a wonderful move, and there will probably be some benefits in the future."

"That's what I worked hard for." Zheng Yutong smiled, looked at the front desk again, and said, "Come on, voting is about to begin."

"It is estimated that Wharf will change the sky." Li Zhaoji said with a light smile.

During this time, Niu Bijian from Jardine has been talking about the development plan of the Jardine Department for Wharf, and the development achievements of Wharf in the past, but after thinking about it carefully, although there are indeed some achievements, compared with the past ten years The efficiency of Chinese real estate companies is far worse.

This comparison makes many people feel that British capital is indeed inferior to Chinese capital.

After Niu Bijian finished speaking, there was still a lot of hissing below, obviously many people were not satisfied with Niu Bijian's statement.

"Let's vote. It's useless to say these things." Chen Zhiwen said lightly. The purpose of holding the shareholders' meeting is to solve this problem by voting.

"Okay." Niu Bijian nodded and said. Although he was very worried about the result of this vote, because the other party controlled 40% of the stocks, the probability of his side's failure was very low, but he couldn't stop it.

For this kind of general meeting of shareholders, which involves fair voting, the stock exchange will send a special team to take charge, because everyone on the scene has different voting rights, and a lot of calculations are required after receiving the votes. There can be no mistakes in this. The two teams calculate separately. If the follow-up data is not the same, it needs to be checked again. If it is the same, it will be considered as a pass.

"How many people here have you contacted?" Shen Bi asked Dis in the first position below.

"I can only say a part of it. Many of Wharf's stocks have disappeared. It is this time that Chen Zhiwen came forward to buy it, so many small shareholders came out." Diess said helplessly.

"That is to say, it is very likely that many people here will still support Chen Zhiwen?" Shen Bi said.

"It is possible." Diess nodded and said, "There are rumors that if Chen Zhiwen succeeds in acquiring Wharf this time, it is very likely that Wharf will be privatized."

"61% is fake news released by Chen Zhiwen. Previously, Hutchison's delisting and then privatization model has been deemed illegal by the Hong Kong Takeover Committee. The highest stock price is 30 Hong Kong dollars, once the acquisition invitation is triggered, Chen Zhiwen needs [-] billion Hong Kong dollars to privatize Wharf, how is this possible." Shen Bi shook his head and said.

"It's unlikely, but the news is spreading everywhere now, and many people have even increased their purchases of Wharf shares. Many people who are here today are probably brainwashed into thinking that Chen Zhiwen will definitely buy Hutchison like he did back then. Then privatize Wharf." Diess shook his head and said, as long as he did the math, he knew that no one in Hong Kong had the financial resources to privatize Wharf at this time. It is possible that the stock price is not high within half a year.

"These stock speculators are willing to take a gamble. It looks like they have been used by Chen Zhiwen again." Shen Bi shook his head and said.

(End of this chapter)