I Want To Be a Rich Man on Hong Kong Island

  Chapter 585 [Five Pillar Industries of Hutchison]

  Hutchison Building, group meeting room.

  Wu Guangyao took the lead, and the three giants of the Hutchison Group, Wei Li, Xia Boyin, and Peter Wei, were sitting on both sides of Wu Guangyao, and the other executives were bent.

  Currently, Hutchison Group’s listed companies include: Hutchison Whampoa, Hebao, and Hutchison Real Estate

  In other words, the original seven listed companies have been cut off from four listed companies, namely:

  1. Watsons: Because the benefits are very good, but the market value is underestimated, Gu Zuo will be privatized and delisted and re-listed at the right time;

2. Metropolis Real Estate: Chen Detai, the owner of Dah Chong Real Estate, and Chi Dezun, the predecessor of Hutchison Real Estate, are closely related; Dah Chong Real Estate had real estate development experience and capital and sales channels at that time, and Hutchison Real Estate had a large land reserve, so the two parties cooperated Established Metropolis Real Estate;

Metro City Real Estate is preparing to develop three plots of land, namely: Hung Hom, Tai Kok Tsui, and Aberdeen three docks. As you can imagine, this real estate company has just been established (fastest listing record) and has not yet developed three plots. We encountered the great crisis of Hutchison Holdings;

  With the support of Wu Guangyao, after Wei Li took office, he unilaterally terminated the contract; such a good land is naturally not something a second-rate real estate company can take in.

Losing money is a trivial matter, and the profit behind is the big one. Therefore, Hutchison Holdings redeemed the land rights in Tai Kok Tsui (Hung Hom and Aberdeen Dockyard have not yet signed a development contract) and directly ceded the shell company-Metro City Real Estate Dachang Real Estate.

  3. Jun Yicang: Because of the huge land reserve, Hutchison Whampoa Gu Zuo is privatized and will be merged into Hutchison Whampoa later.

  4. Seaport project: Long-term loss-making enterprises were sold to Hong Kong Island First Construction at a discount.

  Although there are only three listed companies in the Hutchison Group at this time, no one dares to underestimate the Hutchison Company;

  Hutchison International is a well-deserved ‘Little Overlord’ on Hong Kong Island in the four aspects of real estate, trade, ports, and retail:

Real estate: Hutchison Whampoa owns a large number of land reserves and properties, including Whampoa Dock (2.1 million square feet), Kwan Yick Warehouse (1.1 million square feet), Tai Kok Tsui Dock, Aberdeen Dock, and Kwai Chung Container Terminal (partially developable) Commercial buildings) nearly 5 million square feet of land bank, second only to the land bank of Cheung Kong Holdings, and higher than the land bank of Swire Pacific and Jardine Matheson; Hutchison Real Estate has been able to complete it through the human resources dispatch of Wu Guangyao's real estate company Large-scale housing estate projects.

  Port: 100% interest in Kwai Chung Container Terminal No. 7 and 30% interest in Kwai Chung Container Terminal No. 6; Kwai Chung has a total of 90 hectares of terminal facilities (including the land of piers 8 and 9 that have not been tendered), and Hutchison Whampoa occupies 15%.

Trading: Hebao Company is a trading company on Hong Kong Island second only to Dachang Trading (Ho Shanheng family). Its main subsidiaries are Dehuibao Foreign Firm and Taihe Foreign Firm. Its business mainly includes: import and export trade, commerce, machinery, automobile Sales, supply of building materials, etc.

Retail: After a series of measures, Watson's retail business began to rise, accounting for about 16% of Hong Kong Island's retail sales. In addition, Watsons is also a manufacturing organization and consumer organization; in terms of manufacturing: owns-distilled water, juice series, soda series , Skin care series, health care series, etc., a large number of own products have established Watson's considerable profits.

  In addition to the four major industries, Hutchison Group also owns 50% of the United Dockyard (the other half is owned by Swire). The United Dockyard is a comprehensive dock that integrates shipbuilding, repair and maintenance, and is also the largest dock on Hong Kong Island.

  Hutchison Group also has nearly 100 associates and affiliated companies. These companies have been screened and retained. There is no problem with their own business, and they can continue to bring considerable benefits to the group.

At the   Group meeting, Wei Li said with joy: "The profit in 1975 reached a new high, with a comprehensive profit of 150 million Hong Kong dollars. You can consider paying dividends to shareholders!"

  Wu Guangyao is also very happy. As the first Chinese to join the British-owned Oceanic Company, Wu Guangyao has always been very worried!

  It’s not that I’m worried about that small amount of money, but that people on Hong Kong Island will think that they can only manage Chinese-owned companies and ordinary British-owned companies well, and that they can’t manage British-owned Oceania.

  Hutchison International is after all the four largest foreign companies on Hong Kong Island, and even one of the best;

  If you can't do well in this, it must be a major criticism of life.

   Therefore, after taking over Hutchison Bank in April 1974, Wu Guangyao began to work a lot;

  According to the truth, there are only 8 months left in the first year of taking over, and the global economy is sluggish, it is difficult for Wu Guangyao to turn Hutchison Bank from losses into a win;

  However, Hutchison Bank used gold speculation to make a profit of more than 30 million Hong Kong dollars, and used other companies under Wu Guangyao to acquire the companies that Hutchison had to deal with. Therefore, it turned losses into profits in the first year and made a profit of 43 million Hong Kong dollars.

  In his previous life, Wei Li took over Hutchison Bank in November 1975. In 1976, Hutchison Bank turned losses into a profit, with a profit of 105 million;

  But don’t forget that in 1976, housing prices on Hong Kong Island have appreciated, and real estate profitability can alleviate a lot of financial pressure.

  In this life, in 1975, the real estate situation on Hong Kong Island was definitely not as good as in the previous life in 1976;

  But Wu Guangyao was able to lead Hutchison Bank and made a profit of 150 million Hong Kong dollars, which I have to say is a great success.

  Wu Guangyao adopted Wei Li’s suggestion: “Yes, paying dividends to shareholders can increase Hutchison Whampoa’s stock price, which will help us to issue new shares later!”

  Hutchison executives smiled and issued new shares, which means that the company can raise a lot of funds, at least hundreds of millions of Hong Kong dollars;

  Whether the funds are invested in existing industries or acquiring companies, Hutchison Group can grow, and the shares will also increase.

  Welly asked tentatively: "Does the boss want to buy the company?"

  Wu Guangyao has not concealed it. The meeting room is full of the core senior staff of the Hutchison Group and does not need to be kept secret;

  Furthermore, Wu Guangyao doesn’t like secretly acquisitions anymore!

   "Our goal is the Hong Kong Telephone Company to strengthen our strength in the field of telecommunications, and telecommunications is our fifth largest industry in the Hutchison Group."

  After a few words, the senior executives were very excited, and they all echoed it!

  At this time, Wu Guangyao has unconsciously dominated Hutchison International;

  In other words, even if the Big Three of Hutchison resigns, Wu Guangyao will soon be able to dominate Hutchison International, and there will be no confusion;

   Obtained the trust of all the management without making a sound. This is the charm of Wu Guangyao.

  Wei Li asked: "How much does the boss intend to hold?"

  Wu Guangyao said with a smile: "35% is enough, you can attack, you can retreat and defend!"

  For hundreds of years, the telecommunications industry in Hong Kong has been monopolized by two British-owned companies, namely the telegraph business of the British Telegraph Bureau in Hong Kong, and the local British-owned company, the Hong Kong Telephone Company.

  Hong Kong Telegraph business (British Great Eastern Holdings), born in 1871, was originally wired telegraph, then developed into wireless telegraph, and then to modern graphic fax, data communication, international telephone, radar navigation, etc.;

  Hong Kong Telephone Company (a local publicly listed company) was born in 1882. Its main business is local calls in Hong Kong, while international calls are still manually transferred (third-party).

If Wu Guangyao did not participate in this competition, the Hong Kong Telephone Company would be acquired by Jardine Matheson with 35% of the shares in 1981 and become a subsidiary company; afterwards, Jardine would sell its shares in 1983 due to heavy losses during the Sino-British negotiations. It was given to the British Dadong Telegraph Office; so far, the British Dadong Telegraph Office monopolized the telecommunications industry in Hong Kong.

With the conclusion of the Sino-British negotiations, the British Telegraph Bureau knew that if Hong Kong Telecom was not a local company, it would be absolutely disadvantageous for the transition to 1997. Therefore, the merged Hong Kong Telecom was registered in Hong Kong and implemented a series of localizations. Give up 20% of CITIC’s shares, ration 10 million shares of Guangdong Post and Telecommunications, and appoint Li Guobao as the chairman. There are as many as 16,000 local employees, accounting for 98%.

   Later, it was the classic acquisition of Li Chaoren’s son and Yuan Tianfan

  In this life, Wu Guangyao’s plan is to first take control of the Hong Kong Telephone Company;

  In the 1980s, it acquired the Hong Kong Telegraph business from the Great East Telegraph Bureau of the United Kingdom;

  At this point, the Wu family monopolized Hong Kong's telecommunications.

  Hutchison Telecommunications will invest heavily in telecommunications in Hong Kong in the future, mobile phone networks, 2G, 3G

  In short, this is another enterprise with a market value of hundreds of billions of Hong Kong dollars.

  (End of this chapter)