Video Game Empire

From Heung Kong Holdings' announcement of a general tender offer to all Landmark shareholders to the completion of the privatization of Landmark and its delisting from Hong Kong stocks, the whole process only lasted half a month. While everyone was still a little astonished and did not seem to have fully recovered, the largest merger and acquisition case in the history of the Hong Kong capital market has come to an end.

The day when the Landmark Group announced its delisting from the Hong Kong stock market also happened to be the day when the Oriental Group announced that the company's new headquarters building, the Oriental Building in Central, Hong Kong Island, was about to be officially opened.

So "Ming Pao" used such a title in its front page headline the next day - "Replacement of Dynasties"! The history of the rise and fall of the Jardine Group can be said to run through the history of Hong Kong in the first 150 years. The Opium War was not so much started by the British government as it was by Jardine Matheson!

Before the war between China and Britain, Jardine Jardine, the founder of Jardine Matheson, personally returned to London and tried his best to persuade the British government and parliament to pass the war resolution. After the war broke out smoothly according to their wishes, Jardine Matheson not only helped the British fleet to formulate the entire battle plan and war strategy, but also actively provided the necessary logistical supplies and even military expenses for the British army on the expedition.

Even the proposal to secede Hong Kong Island from the Qing government was something that Jardine strongly advocated to the British government. As early as 1842, a year before the signing of the Treaty of Nanjing between China and Britain, Jardine Matheson had already built the first British building on Hong Kong Island.

Jardine / Matheson can be said to be the most representative epitome of the British colonial history in Hong Kong. With the approaching of the 1997 deadline, British capital has already begun to retreat in a planned way. But no one expected that the Jardine Group would declare itself and Hong Kong, the place where it started, gradually drifting apart in such a way that there is no resistance and almost being crushed.

Of course, Jardine still has two listed companies in Hong Kong. The combined market value of Jardine Holdings and Jardine Securities can still be 80 to 9 billion Hong Kong dollars. However, the most core and high-quality assets of the entire Jardine Department in Hong Kong are almost all in the Landmark Company.

After losing Landmark, Jardine has been reduced to a mediocre company in Hong Kong. And now the Keswick family, even the control of the Jardine Holding Company, has begun to falter. If Heung Kong Holdings is willing to spend more than one billion Hong Kong dollars, Jardine Holdings can also be included in the bag.

Actions against Landmark being acquired. The media like to carry out various high-profile interpretations, believing that this is an acquisition that is close to a milestone in Hong Kong's history. But for several shareholders of Heung Kong Holdings, the reason why they mobilized tens of billions of funds is for business, not a battle of will.

Except for Li Xuan, the net worth of the remaining four shareholders is inseparable from the real estate industry. Therefore, what everyone is looking at is only Hongkong Land, and there is not much interest in Jardine Holdings, which can be won by only spending more than one billion yuan. Otherwise, this old-fashioned company with a history of 150 years is likely to be completely wiped out from now on.

After completing the privatization of Landmark, the natural next step is to distribute the spoils. Landmark is a large-scale group company with huge businesses including real estate, retail, food, hotel and so on. One of the most coveted assets. Naturally, it is a large number of high-quality commercial buildings in Central.

Hongkong Land Company has the reputation of "The King of Land in Central", and its management style has always been relatively conservative, and it usually only rents and does not sell its commercial properties. Therefore, only in Central, the most valuable land in Hong Kong, Hongkong Land Company owns Taikoo Building, Prince's Building, Jardine Building, Duke Building, Gloucester Building, Alexandra Building, Hong Kong Club Building, and the just-completed Exchange Square. There are nine high-grade office buildings in the first and second phases.

The management style of the Xu family's China Construction Group is similar to that of Landmark, and it also mainly rents out commercial real estate. Therefore, Xu Shixun mainly won five commercial buildings in Central, including Landmark Phase I, Phase II, Taikoo, Prince Edward, and Jardine.

The direction of the Lin Group's real estate business is commercial residential, so Lin Guitai did not compete with Guo Henian for the control of the Oriental Mandarin Hotel. Instead, the Lam Group chose to inherit a large number of residential properties in Mid-Levels, Sheung Wan, Causeway Bay, Tsim Sha Tsui, etc., as well as an Alexandra Building.

Guo Henian's Carrie Group has nothing but gains this time. In addition to the Duke Building, where the Mandarin Oriental Hotel in Hong Kong is located, the entire Mandarin Oriental Hotel Company is also included in the bag. To know that Mandarin Oriental is in Hong Kong, Macau, Singapore, Bangkok, Manila. Each has a five-star hotel named after Mandarin Oriental. It also has a 4-star Excelsior Hotel in Central, Hong Kong and a luxury resort in Chiang Mai, Thailand!

The Karrie Group plans to spin off its Shangri-La Hotel Company, complete the integration with Mandarin Oriental, and then list it independently on the Hong Kong stock market. The new company will also become the largest top hotel group in Asia in one fell swoop.

Although Mr. Huo Yingdong was one of the earliest Chinese businessmen involved in real estate development in Hong Kong, he was the first to come up with the idea of ​​selling off-the-plan properties. But from the sixties. Huo Yingdong has gradually faded out of the Hong Kong real estate industry under the suppression of the Hong Kong government authorities. Since the early 1980s, the investment focus of the Huo family has gradually shifted to mainland China.

The assets that Mr. Huo has shared this time are mainly the two major businesses of food and retail under Landmark Group, including Dairy Company, Maxim's Group, Mannings Pharmacy, Wellcome Supermarket, 7-eleven Convenience Store, Shenchang Company, etc. . The Huo family plans to integrate these businesses into a new milk international company. Then re-listed on the Hong Kong stock market.

The only property that Mr. Huo requested to be classified as his own was a 19-story commercial building in Tsim Sha Tsui, Kowloon. The building, called Xingguang Xing, was built by Huo Yingdong in the early 1960s by inviting four other Chinese-funded consortiums to jointly raise 30 million Hong Kong dollars. It was named Kowloon Commercial Building at that time.

But Huo Yingdong smuggled a lot of strategic materials from Hong Kong to China during the Korean War. He accumulated the first pot of gold through this, and was also known as Hong Kong's "red-topped giant". At the same time, he was also blacklisted in the United Kingdom and the United States. As a result, Starlight Travel has been suppressed by the Hong Kong government and the U.S. consulate in Hong Kong since it was completed and leased.

In the end, Mr. Huo was forced to transfer the new building to the Landmark Company at a low price. In order to protect themselves, the Huo family has gradually faded out of business operations in Hong Kong since then. Xingguangxing can be said to be the darkest moment in Huo Yingdong's memory. And now he can finally be ashamed!

As the convener of this acquisition and the largest investor, Li Xuan has naturally the most lucrative benefits. He first obtained two commercial office buildings, the Gloucester Tower and the Hong Kong Club Building in Central, as well as a piece of land next to the second phase of the Exchange Square, which was originally intended to be used for the construction of the third phase of the Exchange Square.

In 1982, Hongkong Land Corporation purchased the Central Exchange Square site at a sky-high price of HK$4.755 billion. This also became after the real estate crisis broke out in 1982. One of the important reasons for the huge losses of Landmark year after year.

However, with the recovery of the Hong Kong real estate market, this prime land has become a scarce resource again. The high occupancy rate of Phases 1 and 2 of Exchange Square, which Hongkong Land recently completed and opened, speaks volumes.

Originally, the remaining land had been planned by Hongkong Land Corporation for the construction of Phase III of Exchange Square. But after Landmark was privatized, Li Xuan requested that it be placed under his own banner.

In fact, if the land is put up for auction again now, the selling price will be worth at least 1.5 billion Hong Kong dollars. As the Hong Kong property market started to pick up last year, the land that Hongkong Land acquired when land prices were high because of its aggressive advance, has gradually ceased to be a drag. It's just sometimes the data in the financial statements. Usually much lag than it actually is.

For example, the first and second phases of the Exchange Square have just been completed. Although the occupancy rate is very good, these stable cash flows will only be revealed in the next year's financial report. However, the cost of building the two skyscrapers has already been accounted for, so the financial data of Hongkong Land will not be very good.

And if there is another year and a half, and after the Landmark company has calmed down, it is impossible for Li Xuan and others to successfully privatize the Landmark company with only 16 billion Hong Kong dollars!

As the leader of Hong Kong's real estate industry, Hong Kong Landmark has many properties and lands all over Hong Kong. These assets were also divided among the five shareholders of Heungkong Holdings.

In addition to being assigned to two office buildings in Central, Li Xuan has a podium. In addition to a piece of land, a large amount of equity will be allotted to the other four shareholders when they independently list the assets divided up from Hongkong Land, or replace them with their own original listed companies.

According to estimates made by Zhuang Yuhai, these assets of Landmark have been split and reorganized, carefully packaged and then re-listed. It is easy to achieve a market value of more than 20 billion. This means that the gross profit margin of this acquisition is at least 25%.

After deducting the initial investment, each of the five shareholders of Heung Kong Holdings can increase their wealth by at least 500 to 600 million. And Li Xuan has the highest proportion of equity in it. Even if a series of costs such as bank loan interest and acquisition fees are removed, he will definitely be able to make a net profit of more than 1 billion Hong Kong dollars.

"Axuan, you've given me enough support over the years. You don't owe me anything! Just leave these assets to my nephew and niece as pocket money. Even if you don't give them to Xiao Nuomi and Xiao Tangyuan, you'll be fine. You should make some plans for Xiaodoubao in advance!" Li Ke shook his head and pushed the transfer agreement back to his younger brother.

Xiaodoubao is the daughter of Li Xuan and Lizhi. In order to take care of the face of Zhong Chuhong, the real lady, the Li family has never officially recognized the identity of this illegitimate daughter. But in private, Li Xuan, a father, naturally treats his children equally. After each child was born, Li Xuan prepared a trust fund for their beauties that could provide them with food and clothing for the rest of their lives.

The Oriental Group is not ready to enter the real estate industry, and the lh investment fund under Li Xuan's private name is ready to take a share of the huge profits in Hong Kong's future property market. However, its participation method will also be based on the purchase of stocks of major real estate companies in Hong Kong. In fact, as early as 1983, many Hong Kong real estate stocks have been absorbed into the lh fund's investment portfolio.

Therefore, when Li Xuan divided up the assets of Hongkong Land, the reason why he asked several other companies to assign the two office buildings, Gloucester Tower, Hong Kong Club Building, and the third phase of Exchange Square to himself, was for himself. The elder brother Li Ke prepared it.

"The Hong Kong real estate industry has gone through three cycles since it started in the 1950s! The first real estate boom was in the early 1960s, including Li Jiacheng, Guo Desheng and others who entered the real estate industry at this time.

Then in the mid-to-late 1960s, there was a run-off crisis in the Hong Kong banking industry, and the domestic wen-ge turmoil spread to Hong Kong, making the Hong Kong property market the first Great Depression!

Like Zheng Yutong of New World Group, he took this opportunity to acquire a large number of properties at a low price! There are also people like Li Jiacheng, Guo Desheng, etc., who have also reserved a lot of land when the land price plummeted in those years!

The Hong Kong property market then went out of its trough in 1968 and re-entered a rising cycle. This rising cycle lasted for five years, and it was not until the oil crisis in 1973 that the Hong Kong real estate industry fell into a trough again!

And like Li Jiacheng's Cheung Kong Group, Guo Desheng's Sun Hung Kai Properties, Zheng Yutong's New World Group, Hu Yingxiang's Hehe Industries, these now-scenario Chinese real estate giants were all in 1972 before the property market crashed. The property market is booming and riding a bull is listed, and a large amount of money has been circled.

After the Hong Kong real estate industry collapsed again in 1973, these Chinese-owned real estate developers took the opportunity to reserve land at low prices and continue to expand after the property market boomed.

The third upward cycle of the Hong Kong property market lasted from 1975 to 1982. After the Hong Kong property market peaked in 1982 and accumulated a lot of bubbles, it collapsed again because of the political turmoil in the Sino-British negotiations!

Since last year, the Hong Kong property market has gradually stepped out of the trough and entered a new round of rising cycle! Looking at all the rapidly rising Chinese real estate rich in Hong Kong, all of them have stepped on the rhythm, taking advantage of the market downturn to reserve a lot of land, and then make huge profits after the property price recovers!

And according to my judgment, the next round of property market upswing in Hong Kong may last for a long time. Under my intentional suppression, your Kunpeng Real Estate has missed the best time to accumulate strength in the first two years!

Our brothers and sisters will settle the account. Because of my reasons, Kunpeng Property has lost the opportunity to make great strides. Now I naturally have to make up for it! "Li Xuan handed over the transfer agreement that Big Brother pushed back.

In fact, as early as the beginning of 1983, Li Ke established a real estate company called Kunpeng Real Estate. However, after the establishment of Kunpeng Real Estate, it took advantage of the opportunity of the downturn in property prices to buy some luxury houses!

The only large-scale project of Kunpeng Real Estate was when Jianian Group was in bankruptcy and liquidation, it took over a half-built commercial and residential building in Shatin.

Behind Li Ke stands the younger brother of the richest man in the world. Naturally, there is no problem in terms of funds~www.readwn.com~ The reason why Kunpeng Real Estate did not buy land aggressively in the first two years is indeed because of Li Xuan.

Real estate investment is very profitable, which is almost a consensus in Hong Kong. And Li Xuan has a lot of money in his hands, so the bigwigs in the real estate industry in Hong Kong have always been very wary of the giant Oriental Group coming in to grab food.

The ultra-high profitability of the Oriental Group has made Li Xuan's cash flow very abundant, and other companies simply cannot compete with him for funds. But the cake of Hong Kong's real estate industry is so big. If Li Xuan eats more, it means that other people eat less!

In the name of Kunpeng Real Estate, Li Ke won the land for the former site of the Central Fire Station. The bigwigs in the Hong Kong real estate industry were suddenly panicked and shouted that the wolf is coming! It was not until the Oriental Group announced that this land would be used to build the company's new headquarters building, and everyone let go of their worries!

Li Xuan's rise is too fast, and the hidden danger is that he has an unstable foundation in Hong Kong. Therefore, it is very important for him to create less enemies, and almost all the most powerful interest groups in Hong Kong are concentrated in the real estate industry.

In order to eliminate the suspicions of these real estate bigwigs, Li Xuan not only never showed his intention to enter the real estate industry, but even his eldest brother's real estate company was deliberately restricted by him! (To be continued...)