Chapter 195 [Striding forward] (8000 word chapters!)
On Friday, Lin Zuhui came to Cathay City early and summoned Liang Zhenxun, who is also a director of Cathay Pacific, and executive director and general manager Lu Donglai.
Lin Zuhui was sitting in his office, writing some data on paper with a pen.
After a long time, he made up his mind and said: "We need to hand over 300 million to the Fu family at the beginning of December, which means there is still 150 million in cash (loan 450 million) temporarily left on the account. So, you go and use this funds to buy 12
For the monthly index futures contract, there is no problem if it is below 2,300 points.”
Liang Zhenxun and Lu Donglai have long been accustomed to Lin Zuhui's method of using his financial skills to bring profits to the company, and they are no longer as formidable as they were at the beginning.
Lu Donglai pondered for a while and said: "Even after the December futures contract is settled, it is expected that it will not arrive until early January, and our third balance payment also needs to be paid in full in early January, which may not be in time. However,
Our loan this time is 450 million. Even if 150 million is misappropriated, it is equivalent to a balance of 500 million remaining; Cathay City must have all the funds from the Hongji Building and securities sales in December, so that it can be stable!"
The implication is that the schedule is so tight, what if something unexpected happens!
As the director of the entire New Era Real Estate Department, Liang Zhenxun has a thorough understanding of the finances of the entire consortium.
Therefore, he said with a smile: "It doesn't matter. New Era Real Estate and Chinese Real Estate have cash reserves. They can be seconded for turnover when the time comes. There will definitely be no problem!"
As the boss's core confidant, he probably knows the boss's forecast for the Hang Seng Index at the end of the year, which is estimated to be 2,500 points. As a result, it is very profitable to trade the December futures contract now.
At this time, the futures contract trading in Xiangjiang was active, with a daily trading volume of 12,000 contracts, and the margin alone required about 270 million. The market was large and could not be absorbed.
The Hang Seng Index fell sharply this week, from a high of 2330 points to today's 2180 points, a full 150-point drop. Because of this, Lin Zuhui planned to buy the bottom again.
In fact, Liang Zhenxun was also a little nervous at this time:
The average buying point of the December index futures contract held by New Era is 2280 points (100 million margin);
The average buying point of the December futures contract purchased by Cathay Pacific is 2230 points (70 million margin);
Both investments have currently incurred losses!
The December index futures contract purchased by Chinese Real Estate was purchased early, and the buying point was only a little less than 2,000 points. The current profit is still good (150 million margin).
However, Liang Zhenxun is still worried that the Hang Seng Index will continue to fall. After all, he is not a magic fortune teller, and it is normal to have such worries.
However, Lin Zuhui has become a myth in everyone's mind. The company's influence is huge, and this kind of investment does not need to be discussed with others; no one dares to question the chairman, whether it is the board of directors or the shareholders' meeting.
"Don't worry! New Era Real Estate is a consortium and has sufficient ability to withstand risks. Moreover, if Cathay City does not make more money elsewhere, it will not be able to develop at all. The annual interest alone is enough for us to drink a pot."
Lu Donglai nodded and said, "Okay, I understand!"
This time the snake swallowed the whale, but it still brought serious consequences to Cathay City. As the market plummeted this week, Cathay City's market value also evaporated by 20%, leaving less than 450 million.
If the previous press conference had not been held in time, I am afraid it would have plummeted to less than 400 million!
.......
Time flies and it’s December in a blink of an eye.
In the past 20 days, Lin Zuhui has lived a very fulfilling life. It is not the woman who makes him fulfilled, but the down-to-earth working method of "strengthening the foundation and cultivating the talents" that makes him fulfilled.
Because several companies in the New Era Real Estate Department had to stop their development due to financial constraints, this gave Lin Zuhui time to properly handle the basic affairs of these companies.
Development properties, rental properties, investment properties, securities, futures contracts, every investment is imprinted in Lin Zuhui's mind.
When he was reorganizing the company's internal affairs, the Hang Seng Index also experienced roller coaster changes. First, it maintained between 2,200 and 2,300 points in the middle two weeks of November, and then rose sharply in the last week of November, with the Hang Seng Index breaking through 2,400 points in one fell swoop.
This finally made Lin Zuhui feel relieved!
He estimated that on the settlement day of the December futures contract, 2,500 points would be impossible to reach.
He and his company invested a large amount of December index futures contracts, naturally hoping to successfully close their positions at a profit.
After all, many of his plans require this money!
A single move can affect the whole body. If he cannot make a substantial profit, many of his plans will not be implemented.
Monday, morning.
Lin Zuhui convened a meeting with senior executives in the conference room of New Era Real Estate.
"Manager Li, how is the market situation of industrial plants?"
Lin Zuhui named Li Rongsheng, who is responsible for rent collection/investment properties of New Era Real Estate. He is a newly promoted senior executive. However, since New Era Real Estate acquired Chinese Properties, it has slowly begun to focus on land reserves, and the rental properties have been significantly reduced; therefore,
, Li Rongsheng does not concurrently serve as a director of the company.
Li Rongsheng naturally answered the boss's question easily, and immediately said: "In Hung Hom District, the selling price per square foot in Kowloon Bay is about 550 yuan, in Tsuen Wan and Kwai Chung, the selling price per square foot is around 450 yuan, and in Shatin it is around 400 yuan; we
The average growth rate of the industrial plants in hand is 55%, with a market value of 550 million yuan! It is expected to start selling now, with a net profit of 190 million yuan and a return of 260 million yuan!"
"Then start selling, but don't make too much noise!"
"Okay, I'll pay attention! Industrial plants on the market are very scarce now, and coupled with the high prices, many people are willing to invest. I believe we can sell them out soon."
Lin Zuhui nodded. The hotter the market, the more people take orders. The investment theory of most people is - buy up and not buy down. Because in their view, a drop may be a panic. How long and how deep will it fall? Their instinct
They feel panic. Instead, they buy when the price rises. As long as they buy, they will make a profit quickly.
Industrial factories can still make 20% profit at most, so Lin Zuhui naturally doesn't like it.
Moreover, the return and principal of this investment have already been budgeted for new investments.
Next, Lin Zuhui said to Liang Zhenxun: "What is the total market value of our blue chip investment?"
I started buying the blue-chip stocks of New Era Real Estate in June, when the Hang Seng Index was only about 1,750 points, with a principal of 100 million and five times leverage.
Today, the Hang Seng Index has increased by nearly 40%, and the blue chip stocks selected by Lin Zuhui are all star stocks among blue chip stocks, and their performance has always been very good.
Liang Zhenxun also picked it up immediately. After all, the boss likes well-prepared subordinates and attaches great importance to the efficiency of meetings;
Therefore, many senior executives must learn to guess what the boss will ask in the meeting that day, and they must be fully prepared.
"As of last Friday, the market value of our blue chip investment was 750 million. If we start cashing out now, according to the current stock market situation, we should be able to make a profit of 230 million (after commissions and taxes are deducted) and withdraw 330 million!"
"Sell it! The Hang Seng Index should remain above 2,400 points in December, and even 2,500 points is possible! But we have a use for this fund, and we have to cash it out no matter what!"
Currently, the total market value of the Hong Kong stock market has exceeded 400 billion, which is very gratifying!
Hong Kong has a total population of only 5.5 million, which is equivalent to an average of 80,000 saved in the stock market per capita. This shows how exaggerated the financial environment in Hong Kong is!
As far as Lin Zuhui knows, before the August 7th stock market crash, the market capitalization of the Hong Kong stock market was conservatively above 650 billion; while the GDP of Hong Kong was only 300 billion, with an average per capita of HK$54,000.
However, Xiangjiang's geographical location is great, and it is a model of free economy. It receives up to 10 million tourists every year, and it is also uniquely endowed with trade and finance.
Why are office buildings in Central so expensive?
It is because many foreign-funded institutions and companies have settled in Xiangjiang and plan to use Xiangjiang as a springboard to share the big cake of the mainland.
The meeting continues.
Lin Zuhui said: "I plan to have New Era Real Estate raise funds for a rights issue, with 1 rights issue for every 10 shares, and obtain a cash flow of more than 400 million. Director Liang, you will be the person in charge of this action, and it must be completed next week."
The Hong Kong government has recently discussed the introduction of new rights issue fundraising regulations, which means that each issuance of new shares cannot exceed 10%.
If Chinese Real Estate wants to raise funds through a rights issue, it must complete the rights issue before the regulations are promulgated; of course, such new regulations generally have an effective date, so it should be in time.
Liang Zhenxun nodded. He had already cooperated closely with his boss, and every time the rights issue was completed on time, he even took the lead in raising funds through rights issues for several of his subsidiaries.
Lin Zuhui is responsible for finding the right time to ensure that each rights issue fund-raising is at the hottest time in the market, so that the rights issue fund-raising can be completed smoothly.
After all, once the market slumps, no investors will be willing to raise funds through rights issues.
"Yes, boss! According to the current market conditions, our rights issue will go smoothly."
Lin Zuhui laughed and joked: "I am personally in a miserable situation. I am afraid I will have to borrow money to raise funds through this rights issue!"
A kind of senior management laughed in agreement. They were all old employees of Lin Zuhui, and they would not believe that Lin Zuhui was really poor. You know, since New Era Real Estate can make profits in foreign exchange, futures contracts, and blue chip stocks
It’s not cheap, doesn’t the boss know how to invest a little bit in it?
Besides, New Era Real Estate has issued rights issues many times. The boss has issued rights issues every time and has not transferred it to investors.
Seeing that everyone didn't believe it, Lin Zuhui had to say: "I really need to mortgage some stock rights issues. My investment is all in the December futures contract!"
Liang Zhenxun said: "The boss can also make money back. The futures contract has performed very well in the past six months!"
Lin Zuhui said with a smile: "That's true! I just feel that I finally made some money, and I have to raise funds through rights issues and pay off debts. I am really reluctant to let it go. However, New Era Real Estate has grown up now, and I am also very happy!"
Even as a child, along the way, Lin Zuhui has been using his own personal funds to support New Era Real Estate, which is why New Era has a market value of 4.6 billion today.
In the past, New Era only had a quarter of the market value of New World and Henderson (when the market value of New Era was 2 billion). Now it is one-third of the market value of New World and Henderson. It can be said to be developing rapidly.
According to this situation, there is no problem that the market capitalization of Henderson and New World is one-half of the 87 stock market crash. As for Sun Hung Kai and Cheung Kong, it is between one-half and one-third.
At the end of the meeting, Lin Zuhui emphasized: "As usual, Director Liang will announce the company's investment profits and increase the stock price this week! Let me know the news about our company's non-recurring profits of 600 million this year. If you don't believe it,
Times Real Estate’s price rise will be less than 5 billion next week.”
New Era Real Estate's non-recurring profits in the early stage were already 200 million, and now industrial plants and blue-chip stocks have each made more than 200 million, a total of more than 600 million in non-recurring profits.
New Era Real Estate also invested in 4,400 futures contracts, with an average purchase price of 2,280 points. It is expected to make a profit of 48 million by the end of December.
In addition to the profit of nearly 400 million from real estate development/rent collection this year, New Era Real Estate's financial report next year will blind the eyes of those who invest, and it will become one of the five most profitable real estate developers in Hong Kong.
Outperforming Hang Lung Properties, and maybe even similar to New World!
"Okay, I will definitely let this news out."
.......
The next day.
"Tian Tian Daily" published a huge piece of news:
Liang Zhenxun, executive director of New Era Real Estate, said in an interview that New Era Real Estate's non-recurring profits in 1986 are expected to be around 600 million yuan. It is also predicted that New Era Real Estate's full-year profit in 1986 may be as high as 1 billion yuan, ranking among the world's top real estate developers.
One of the five most profitable real estate developers in Hong Kong. The non-recurring arrival of real estate in the new era comes from: foreign exchange, futures contracts, property speculation, investment in blue chip stocks and many other investments.
For a time, the industry was shocked.
New Era Real Estate was taken over by Lin Zuhui less than two years ago. Its predecessor was a real estate company on the verge of liquidation. Now its annual profit can rank among the top five real estate developers. It is simply incredible.
On that day, New Era Real Estate raised its price by 8%, and its market value once approached 5 billion.
...
Two flowers bloom, one on each side.
Lin Zuhui and Zheng Yutong went to Sino Real Estate together, and they sat in the car and chatted.
When Zheng Yutong met, he asked: "New Era Real Estate's extraordinary profit this year is really 600 million?"
He is an important shareholder of New Era Real Estate and naturally cares about its interests.
Lin Zuhui said confidently: "It's just more, it's true! How about Uncle Tong just come to the company as a director?"
New Era Real Estate has many paid directors, including retired officials from the political field, senior businessmen, and heads of international organizations stationed in Hong Kong.
This is a kind of celebrity benefit. Lin Zuhui likes their connections, and these people can also get a salary from New Era Real Estate.
Zheng Yutong holds 3% of the shares of New Era Real Estate, and Lin Zuhui also invited him to serve as a director. However, he wanted to withdraw from the business world and help his son get started, so he did not agree at first.
But this time, Zheng Yutong agreed. The reason is very simple. He is now really optimistic about New Era Real Estate. Although he was optimistic about it before, he still had fellow countrymen to consider.
"Okay, I'll take this directorship! It seems I made a lot of money from that investment, haha!"
Lin Zuhui nodded and said: "Uncle Tong, when I go to Sino Real Estate this time, I want to settle on the Twin Towers! 1.88 billion is 1.88 billion. This investment is very worthwhile!"
Zheng Yutong said without hesitation: "You are taking the lead this time, you have the final say! If I hadn't considered your Huazhi's funding problem, I would have made the decision as early as November!"
The Twin Towers were the Benda Center in the previous life, and later called the Lippo Center. In the previous life, the Australian-funded Benda Group bought it for 1.9 billion in 1987. The Twin Towers have not yet been completed and are expected to be put into use in 1988.
The Twin Towers are located on the Admiralty MTR Station. They are composed of two buildings with 42 and 46 floors respectively. The geometric shape of the exterior is very unique, consisting of raised square sculptures of different sizes. The glass curtain walls are designed in dark colors.
The bottom of the building is connected to a spacious square and passage. The entire building is unique and is considered to be the product of the second generation of modernism in American architectural schools.
The land for this building was auctioned in 1984, and Sino Real Estate, together with Everbright Real Estate, Nanyang Consortium, and Japanese consortium, got a good deal. It is said that the land price was only less than 400 million.
Before the Sino-British negotiations, the land compensation fee for this piece of land was as high as 1.9 billion.
Sino Real Estate has currently quoted a price of 1.88 billion, selling 90% of the equity, and the remaining 10% of the equity has been taken by Sino Real Estate.
Lin Zuhui and Zheng Yutong came to Sino Real Estate, and Huang Tingfang and his son received them.
Sino Properties is a big real estate friend in Hong Kong. In the mid-to-late 1970s, Sino Properties acquired nearly half of the rights to the reclamation land in East Tsim Sha Tsui, almost 900,000 square feet. Sino Properties developed these lands into: Tsim Sha Tsui Center,
Empire Center, Hershey Center, Wing On Plaza, Nanyang Center, Tsim Sha Tsui Plaza, etc.
If Wharf dominates Tsim Sha Tsui, Landmark dominates Central, Hysan dominates Causeway Bay, Sino leads the way in East Tsim Sha Tsui.
However, compared with established real estate groups such as Sino Land, Wharf, and Hysan, there are two obvious differences in the investment strategies of Sino Properties:
First, Sino Real Estate focuses on real estate development, supplemented by real estate investment; therefore, except for Tsim Sha Tsui Center, Empire Center and Happiness Center, the rest are launched for sale. At that time, the Tsim Sha Tsui East properties launched by Sino were very popular in the market, and Wing On
The square even set a record of being sold out that day.
Second, Sino Properties often develops real estate properties in cooperation with the private investment company of the major shareholder, the Wong family. For example, the Wong family accounts for 55% of the interests in Tsim Sha Tsui Centre.
After the two parties sat down, Huang Tingfang said: "At the auction, Lin Sheng and I didn't know each other before. I didn't expect to cooperate so quickly."
Lin Zuhui said with a smile: "At the auction that year, New Era Real Estate was short of funds, so I did use some tricks to make Huang Sheng laugh!"
It cost the Huangs and his son nearly 10 million more in the first place, but this time they bought the building and almost made their money back several times.
In the previous life, the Twin Towers were sold for 1.9 billion in 1987. In this life, they were sold for 1.88 billion in November 1986 (discussed in November). Obviously, the Huang family has also taken advantage of Lin Zuhui, a big dog.
Of course, there are also reasons why real estate is booming now. If you don’t buy it at a premium, it may not be attractive enough.
But what is certain is that the Twin Towers will definitely be sold, because there are four consortiums, and if it is rented out, the other three will definitely not agree.
Moreover, Sino Real Estate lost RMB 1 billion from 1982 to 1984 and was almost bankrupt; therefore, it is unlikely to hold such an expensive property.
"There, there, I think that's a smart move!"
Zheng Yutong said to Huang Tingfang: "We have agreed to a price transaction of 1.88 billion. This investment by Sino Real Estate is very cost-effective!"
Huang Tingfang said modestly: "If Brother Zheng hadn't given in, we wouldn't have been able to get this project!"
Zheng Yutong shook his head and said: "Although we had an unpleasant quarrel with the subway company at the beginning, I focused more on the Convention and Exhibition Center. My brother has a good vision. The Twin Towers can make a lot of profits; by the way, China Hong Kong City
You should be preparing to collect rent, right?"
The China Hong Kong City land was jointly acquired by Sino Real Estate and the Huang family in 1985 for a price of 390 million. Sino Real Estate built a "city within a city" with modern equipment, Huaxia Passenger Terminal - China Hong Kong City. This investment is also very commendable.
.
"My brother praised it. The New World Convention and Exhibition Center is a big investment and a big project. From now on, China Hong Kong City will be used to collect rent and will not be sold."
Listening to these big guys talking about big projects, Lin Zuhui felt excited. Fortunately, his new era real estate department was about to take off. Recently, he was getting a lot of blood every day, and he was full of energy.
Soon, we entered the formal topic.
Lin Zuhui said: "We don't think there is a problem with the price of 1.88 billion! We just want to pay the delivery in three months, and we will pay the interest generated during the period as usual."
Huang Tingfang said cheerfully: "Of course there is no problem! Speaking of which, the construction period of the Twin Towers is still nearly a year away!"
Lin Zuhui nodded, he was in no hurry to use it!
But he has already thought of the name for the twin towers, which is ‘Huazhi Center’. Huazhi is originally the abbreviation of ‘Chinese Real Estate’, and Lin Zuhui quite likes this name.
Soon, the two parties reached an agreement and agreed to sign a formal contract at the law firm on the 22nd of this month.
The reason why the signing is set 20 days later is because Chinese Real Estate also has to raise funds for the first payment.
...
Returning to Chinese Real Estate, Lin Zuhui convened a group of senior executives and began to arrange to raise funds and market value. Liang Zhenxun also attended the party. He is a director of three companies and has the most things to do.
Lin Zuhui said:
"We chose to cash out all of the first cash-out funds, Hong Kong and Macau Development's shares, without leaving any one share. We can make a profit of 50 million to 60 million."
"The second tranche of cash-out funds, leveraged blue-chip stocks, has also begun to be sold. It is expected to make a profit of 400 million and withdraw funds of 600 million."
"These two funds will be cashed out within these two weeks!"
Gao Yi said: "Well, at the end of October, we made 80 million on Bank of East Asia stocks, and now we have 150 million in cash. In other words, we can collect 800 million in cash flow before the 25th!"
Liang Zhenxun added: "You need to pay Cathay City a fee of 350 million to purchase Hongji Building!"
Chinese Real Estate also invested in 7,500 December index futures contracts, with a cost price of only 2,000 points. This profit is expected to withdraw 330 million yuan in early January next year.
However, I can’t count on it in December!
So Lin Zuhui said: "I will convince the bank to provide 1 billion in debt for our acquisition of the Twin Towers. This is not difficult!"
Everyone nodded, it was true, this property was worth 1.9 billion, and the bank was willing to lend it 1.2 billion.
Then, Lin Zuhui said: "Once the cash-out of blue-chip stocks is completed, news can be released in the market to stimulate the company's stock price. At the end of the year, we need to complete a rights issue to raise funds. Including futures contracts, our Chinese Real Estate also made 1 billion this year. This is
A very impressive number, enough to make our market value soar to 2.8 billion (currently 2.2 billion)."
Gao Yi nodded and said: "I will hold a press conference then!"
At this time, Liang Zhenxun said: "Boss, are there any acquisition targets?"
A group of high-level executives paid attention, and they were also thinking that Chinese Real Estate had raised a lot of funds, and the boss seemed to be planning to raise funds through a large rights issue, which showed that he was not satisfied with the acquisition of the Twin Towers.
Lin Zuhui nodded and said: "Let's take a look at the fund-raising situation through the rights issue first!"
But he didn't say that he wanted to buy two Landmark buildings. After all, everything was still unknown.
Step by step, the three companies in the New Era Real Estate Department, New Era Real Estate, Chinese Real Estate, and Cathay City, are equivalent to a joint operation.
Soon the industry and investors in Hong Kong will sigh - Superman Lin is here!
...
Since Wednesday, Lin Zuhui has been visiting banks. Chinese Real Estate needs to borrow 1 billion to purchase the Twin Towers. Such a huge loan naturally requires a combination of loans from several banks.
Lin Zuhui also personally needs a loan of 250 million to raise funds through a rights issue, using stock pledges.
At this time, he had already increased his personal holdings to 45% by investing in blue chip stocks in June.
Therefore, if New Era Real Estate raises 500 million this time, it will need a rights issue of 225 million!
Of course, the 225 million rights issue fund is nothing. Lin Zuhui will be able to withdraw more than 900 million from the futures contract in January next year.
.......
A week passed in the blink of an eye.
Tuesday, December 9th.
New Era Real Estate successfully completed the rights issue and raised 500 million yuan, which also caused a considerable impact in the industry.
Many media have commented on the usual tactics in the new era: releasing good news before raising funds through rights issues, and then absorbing a large proportion of funds, acting quickly and ruthlessly.
Some media even concluded that the timing of every rights issue of New Era Real Estate is just right, which is related to its boss’s super financial ability.
New Era is expected to receive 1.1 billion in cash this month, of which 600 million will be withdrawn from industrial plants and blue chip stocks. In addition to 500 million reserved to prepare for the rights issue of Huazhi, the remaining 600 million will be used to purchase land and
Old building.
As a real estate developer, as long as you have land and old buildings in your hands, you can use their mortgage loans and then develop real estate. At this time, the land reserve of New Era Real Estate is worth 2.8 billion yuan, which can be said to be quite rich. This level
It is almost 30% of Sun Hung Kai and 40% of Henderson.
At the same time, New Era Real Estate also owns development properties worth 900 million, holds subsidiary shares worth 1.6 billion, rents properties worth 600 million, and futures contracts worth 100 million.
Asset value soared again, reaching 6 billion; liabilities were 1.7 billion, net assets were 4.3 billion, and market value was 5.5 billion.
The market value ranks eighth among real estate companies, surpassing Hang Lung Properties and Hysan Properties.
Of course, Hang Lung Properties also owns Taoda Real Estate, whose market value is almost 1.5 times that of Chinese Real Estate;
Moreover, the market value of New Era Real Estate is very high, estimated to exceed 20%.
.......
At the weekend, Chinese Land held another press conference. Gao Yi briefly announced the great achievements of Chinese Land at the press conference.
"Chinese Real Estate's profit this year is expected to exceed the 1 billion mark, of which the profit from securities and futures contracts is about 760 million, the net profit from Hong Kong and Macao development is 140 million, and the net profit from property rental is 100 million."
All the reporters looked at each other, another 1 billion?
The enthusiasm of the press conference was instantly aroused, and questions were raised one after another.
"Excuse me, Manager Gao, is your company's securities investment made by Chairman Lin?"
"All investments are made by the investment department of our company, and the chairman is also in this department! The main business of Huaren Real Estate is investment properties and securities. Our company's investment department has strong investment capabilities. This is why the company can
The fundamental reason for achieving such results in less than a year. Of course, the market has increased by more than 40% this year, which is also the reason why we can make profits."
"Excuse me, Manager Gao, does your company use high-leverage investment methods?"
"We did use leverage, but it was within a reasonable range! For example, the futures contract itself is five times leveraged, so I think this leverage is reasonable. Of course, it is normal for people to be concerned about whether there are risks. However,
Everyone knows that our company’s investment in the development of Hong Kong and Macao is a classic!”
"I would like to ask Manager Gao, has your company's futures contract been delivered, or is it the profit generated by the December futures contract?"
"We have already made some profits in September, and we have also made profits from our investment in December futures contracts."
...
On December 18, Chinese Real Estate raised funds through a rights issue: one rights issue for every five shares, raising a total of 550 million.
At the same time, the status of rights issue funds of Chinese Real Estate:
The company has 800 million in funds on its books (sales of blue-chip stocks and Hong Kong and Macau development, Bank of East Asia), raised 550 million through rights issues, and received 1 billion in special loans, totaling 2.35 billion in used funds.
Chinese Real Estate and New World Real Estate jointly purchased the property development rights of the "Twin Towers" on the Admiralty Metro Station - which was renamed Huazhi Center. The transaction capital was 1.88 billion; Chinese Real Estate accounted for 80% of the shares and required an expenditure of 1.504 billion, including tax of 1.58 billion.
Chinese Real Estate purchased Hongji Building from Cathay City for a transaction amount of 350 million, including tax of 368 million.
After the two transactions, Chinese Real Estate still had 400 million in cash on its books, a futures contract worth 350 million, and other properties and securities worth 1.5 billion.
At this time, the debt of Chinese Real Estate is approaching that of New Era Real Estate, reaching 1.6 billion, only 100 million behind.
The asset value of Chinese Real Estate is 4.2 billion, and the net assets are 2.6 billion.
His net worth has increased by more than four times compared to March this year!
...
The next day, Friday.
A consortium composed of Chinese Real Estate and New World Real Estate completed the contract with Sino Real Estate ahead of schedule and completed a property transaction worth RMB 1.88 billion.
After the signing was completed, both parties held a press conference to announce the details of the transaction.
Reporters at the press conference have dug out first-hand information. You must know that the New Era Real Estate Department has completed two transactions worth more than 1 billion in the past two months, which can be said to have blinded the eyes of people in the Hong Kong industry.
A reporter found fault and asked: "Manager Gao, as far as I know, the Huazhi Center will not be delivered until 1988. In other words, you need to pay about 160 million in interest every year, and the normal profit scale of Huazhi is probably about the same.
This is the number! Doesn’t it mean that the money earned by Chinese Real Estate every year is only enough to pay interest?”
Gao Yi joked: "I remember that a reporter used to question Huazhi's parent company and had the same problem. Facts have proved that New Era Real Estate's profit this year is said to exceed 1 billion. As for Chinese Real Estate, this year's profit is almost the same as that of New Era Real Estate
Real estate is on par. As for next year, we, Chinese Real Estate, are still a prosperous investment company and will not let investors down!"
It was so domineering. All the reporters were guessing that the person who created this miracle should only belong to the "philanthropic tycoon".