Chapter 636 [I stood on the top of the mountain and looked at the scenery]
Time flies and it’s a new year in a blink of an eye.
This year (1997) is a year with multiple meanings. For most Hong Kong citizens, their mood to welcome the New Year is different from that of people in other countries in the world. In mid-December last year, Hong Kong elected its first president.
The appointment of Mr. Dong as Chief Executive means that Xiangjiang has gone through many vicissitudes, from separation to opening of a port, from rise to take-off, from negotiation to return, and finally reached a historic year. In this year,
British colonial rule came to an end, and Hong Kong people's rule of Hong Kong officially began.
Lin Zuhui knew that this was also the year when Hong Kong's economy, property market, and stock market, which had experienced years of rapid growth, still performed very well in the first half of the year; however, in the second half of the year, under the impact of the Asian financial crisis, Hong Kong's economy also fell from its high level and fell into
A chronically depressed situation.
However, he has reason to believe that the economy of Hong Kong in this life has become very different because of his appearance.
He won't be a great hero and play against the general trend. After all, he will never operate against the market trend.
What is really different about Hong Kong's economy is that 'revitalizing Hong Kong through culture' and 'revitalizing Hong Kong through science and technology' already have a solid foundation; as long as it becomes a major policy at the government level, then Hong Kong's economy will take the lead in starting from the financial perspective, just like South Korea and Singapore.
Recovered from the storm and developed rapidly.
At the same time, the huge funds of Lin Zuhui and his company will also invest heavily in the Hong Kong property market and stock market within a certain period of time, becoming the leader of the economic rebound.
.......
Thursday, January 2nd.
On the first working day after the Chinese New Year, Lin Zuhui came to the office of New Era Group.
In the morning, Chen Xiaofen came to his office. As Chen Bin's work shifted to global business, Chen Xiaofen, an executive with a background as a sales elite, began to take over New Era Group's real estate business in Xiangjiang, from land acquisition, design, to construction.
, sales and other aspects, she needs to take the main responsibility.
Of course, there is no doubt about Chen Xiaofen's ability. Lin Zuhui can use it with confidence, not to mention there are so many senior staff!
"Boss, all 76 residential units in the second phase of Diligende Pavilion were sold out yesterday, and the funds returned were 2.366 billion Hong Kong dollars. According to the shareholding ratio, New Era Group can share 710 million."
Seventy percent of the equity is owned by Hengjin Real Estate, which is Lin Zuhui’s personal property.
Lin Zuhui nodded. The real estate market is so good. The average price of Mid-Levels luxury homes is more than 30 million. The sales situation is described as robbing.
Last year, the entire luxury housing market rose by 40 to 50%, ordinary housing prices by 25%, and even the stock market rose by 32%, closing at 10%.
Originally, for such luxury properties, major real estate developers usually launched new luxury properties at low prices at the beginning of last year. As a result, citizens flocked to subscribe. Later, developers took advantage of the situation to promote and increase prices, but this did not hinder the subscription boom.
, then continue to increase sales and prices to push up the price of luxury homes.
Driven by the luxury houses, the price of ordinary residences has naturally skyrocketed.
"In the first half of this year, all luxury housing projects available for sale will be sold out. Of course, the third phase of Diligende Court will not be considered."
Chen Xiaofen nodded and said: "No problem. With the current popularity of the market, there is no sales pressure. The same is true for ordinary residential buildings."
Lin Zuhui immediately said: "Since the market is so good, you spread the word that New Era Group intends to sell the 'Entertainment Building'. I will give you a minimum price of 3.8 billion, and you can see if it is sold! In addition, like Yi
East Shopping Mall, Huijing Garden Shopping Mall... Lok Kee Building, Lok Ku Building... all have prepared information and strive to sell them at a high price in the first half of the year."
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He named five shopping malls and five buildings in one breath. The shopping malls are all non-Central shopping malls with less than 200,000 square feet. The buildings are four redevelopment properties and entertainment buildings that were originally acquired from Lokko Real Estate.
Chen Xiaofen was shocked in her heart. You must know that in the minds of executives like them, the boss attaches great importance to rent-collecting properties. He is planning to sell five buildings and five shopping malls in one breath. What is going to happen?
"Okay, I'll prepare the information as soon as possible!" Even so, Lin Zuhui's words were the power of New Era Group. Chen Xiaofen replied without much thinking.
Lin Zuhui nodded and said: "Pay attention to the impact and just sell it in the first half of the year. Also consider selling the scattered rental properties."
"Well, I know!"
In years like this when the real estate market is good, the annual property transaction amount is more than HK$700-800 billion, and the market capacity is still very large.
This is why, when the market conditions were good last year, New Era Group "strongly sold" ordinary residential properties, and Lin Zuhui intended to complete the sale of "precious properties" in the first half of this year.
After a while, Liang Zhenxun came to Lin Zuhui's office.
"Boss, last year's net profit was about 28 billion yuan, all of which were normal profits, and overseas revenue accounted for about 30%." Liang Zhenxun said happily.
In 1996, New Era Group had no non-recurring profits because its gold investment had not yet been closed; even so, the annual profit level increased by about 10%.
This result is very good, because non-recurring profits in 1995 reached more than 4 billion Hong Kong dollars, which is equivalent to a surge of more than 20% in normal profits.
Lin Zuhui said with a smile: "Tell me about the profitability of the business segments!"
Liang Zhenxun nodded and immediately explained that overseas is mainly office buildings and shopping malls in the United States, as well as hotel profits; Xiangjiang's special real estate business is mainly Hengchang Holdings' trading business (automobiles, grain and oil, etc.), shipping, retail, and mainland business
It also began to contribute more than one billion in profits; the rest was almost provided by real estate in Xiangjiang.
Overall, the profit supply of Xiangjiang Real Estate (developing real estate and rent-collecting real estate) is already less than 60%.
This chapter is not over yet, please click on the next page to continue reading! Lin Zuhui said: "The company's financial situation is good, keep it up! In addition to the support of Amazon Shopping Center and Langham Hotel Group, the company should be cautious in other aspects."
After following Lin Zuhui for a long time, these senior executives can see many things from Lin Zuhui's every move. For example, since the past year, Lin Zuhui has intentionally reduced his activities in Xiangjiang Real Estate and intended to make New Era Group's cash flow abundant. What are the intentions behind this?
I seem to understand but not understand.
"Okay, I've written it down! The company currently has a cash flow of more than 36 billion Hong Kong dollars, which is a little more than the group's debt!"
Lin Zuhui nodded and said: "Keep it up! The cash flow in the company's accounts has increased rapidly recently. We must do a good job in accounting and do it accurately!"
"no problem!"
After Liang Zhenxun left, Lin Zuhui showed a smile. It was a good time to be rich!
He had read an interview with Li Chaoren in his previous life and found that the most important thing for businessmen in Xiangjiang is cash flow, which means that if I have money in my hand, I can invest in new projects and fields at any time.
These necessary skills of Xiangjiang businessmen are exactly what later generations of mainland businessmen lacked. You must know that Xiangjiang businessmen have experienced the "July 3 stock market crash", the "82 slump", and the "87 stock market crash" and other historical ups and downs. During this period, many of their peers fell.
It can be said that it is a lesson learned many times.
When the Asian crisis hit, New Era Group's cash flow was almost 80 billion, which can be called a huge amount.
In addition, when gold futures are closed, billions of Hong Kong dollars may be withdrawn.
Not to mention, there are funds from the U.S. stock market, funds from the British stock market, and funds from the Japanese stock market, amounting to hundreds of billions of Hong Kong dollars in the late 1990s.
Finally, there is the British telecommunications industry, which can also cash out 80 to 100 billion.
This amount of capital is enough for New Era Group to become a world giant with assets of nearly one trillion yuan by the turn of the millennium.
........
New Era Group's plan to sell the "Entertainment Building" soon caused a great sensation in the small real estate circle, because such an excellent building as the Entertainment Building is a hot commodity.
Hysan Real Estate.
Several directors and management members of the Lee family also met immediately to discuss the issue of entering Central.
Li Dingchang said with a slightly excited tone: "We need this building very much. Back then, New Era Group built the Gloria Center in our base in Causeway Bay. Now, the Entertainment Building is also a good opportunity for us to advance into Central!"
When talking about Jialan Center, everyone looked at Li Dingchang and thought, if you hadn't been a white knight and offended others, you wouldn't have let others launch a 'blitzkrieg' to quickly acquire old properties on Enping Road regardless of the cost. In the end,
Even No. 1 Enping Road, owned by the Lee family, had no choice but to give it up.
That was a 600,000-square-foot building, much more valuable than the current entertainment building.
Li Yunlian said cautiously: "Lin Zuhui is a person who attaches great importance to rent-collecting properties. Why is New Era Group selling the Entertainment Building now?"
Li Hysan is an opium tycoon and has 17 children in total. Generally speaking, the outside world only knows Li Xiaohe. Li Mingze is the most famous and very influential; Li Yunlian is Li Xiaohe's daughter, and Li Dingchang is the daughter of Li Xiaohe.
They are children from other houses.
There are many members of the Lee family, but there is no family dispute over property. Instead, they are relatively united. Not only that, there are many talented people in the Lee family, and there is no talk of 'retribution' at all.
Maybe this retribution has been used up on Li Xishen. The descendants of the Li family have relied on their own efforts to change the fate of the family; for example, Li Mingze followed the founding father and fought against Japan. This is virtue. So'
Retribution does not entirely exist, the key is to change destiny.
Li Dingchang said: "This is not simple. The IFC has a total investment of 45 billion Hong Kong dollars and a total of 4.8 million square feet of property. It is reasonable for New Era Group to abandon small buildings."
Everyone nodded. They didn't doubt anything. After all, the market conditions are good now. Even if someone points a gun at everyone, everyone thinks the market conditions are good. After Xiangjiang's return, the economic prospects will still be unlimited.
Director Lee's said: "That's right! Over the years, we at Hysan Real Estate have used our own properties and Lee's properties to carry out reconstruction and upgrading. Now we have completed all these projects and collected 4.5 million square feet of rental properties, which is actually comparable to
Land in Central and Wharf in Tsim Sha Tsui are competing against each other and dominating the competition. It’s time to be more enterprising.”
Dominate one side, everyone immediately recognized this statement!
Of course, New Era Group is a major rent collector that dominates Hong Kong.
Soon, Hysan Real Estate decided to join the industry of acquiring entertainment buildings and showed great desire.
........
A few days later, Chen Xiaofen came to Lin Zuhui's office and told him good news.
"Boss, the Entertainment Building has been sold for a total price of HK$3.96 billion. The buyer is Hysan Properties!"
Lin Zuhui raised his head, with a very calm expression on his face, because he calculated that Hysan Real Estate would be eager to continue to develop "rent-collecting properties" after completing the renovation of its own properties. How could they give up such a good opportunity!
"Good price!" Lin Zuhui praised.
Chen Xiaofen said with a smile: "In the first half of this year, the real estate boom in the second half of last year will continue, so there is no need to worry about selling the properties! You don't know, even Xie Ruilin has begun to enter the real estate industry in a big way, planning to enter the real estate industry for the third time. It is said that he has 20 funds
100 million!"
Lin Zuhui was stunned and couldn't help but whispered: "There are still people with such luck!"
It turned out that, as far as he knew, Tse Ruilin was good at making jewelry and was the third largest jewelry company in Xiangjiang, second only to Chow Tai Fook and Chow Tai Sang, and even higher than Luk Fook Jewelry under Leit Group. Of course, this is because the mainland has not opened up the jewelry market, otherwise
Lukfook Jewelry will not be like this either.
Xie Ruilin was good at making jewelry, but he was a "big unlucky guy" when it came to real estate. In 1981 and 1982, because Xie Ruilin was not satisfied with simply doing jewelry business, he rashly got involved in real estate and eyewear retail business, making money from the jewelry business.
He spent a lot of money to buy shops and properties. At this time, Hong Kong encountered a crisis of confidence caused by Sino-British negotiations, and real estate prices plummeted. Tse Ruilin returned from this battle in vain. After that, he reinvested in his old jewelry business.
After hard work, Xie Ruilin Jewelry was officially launched in 1987.
This chapter is not finished yet, please click on the next page to continue reading the exciting content! Shortly after the company was listed in 1987, the ambition that had been suppressed for several years made him a little eager for quick success. In 1990, he successfully acquired Yuxing Real Estate Company
As the flagship of the group's real estate investment, he bought a large number of properties at once, making the group's debt ratio as high as 140%, and the interest expenses alone reached 70 million yuan. With excessive debt, Xie Ruilin must find ways to reduce debt.
So in June of the same year, he sold the Yuxing equity and the Wan Chai land for 200 million yuan to Emperor Group Chairman Yang Shoucheng. Unexpectedly, the negotiations between the British Hong Kong government and the mainland on the new airport gradually became clearer, and even more...
A memorandum of understanding on the new airport was signed in mid-July of that year, and property prices skyrocketed. As a result, Yang Shoucheng built the Emperor Group Center on the land, with a total value of about 2 billion yuan. However, Xie Ruilin could only watch this "fat burning building" helplessly.
"Chicken" fell into someone else's mouth. Xie Ruilin was so angry that he almost vomited blood. In just a few months, he lost his entire life's wealth.
The two real estate defeats did not let Xie Ruilin learn from the experience, and now it has happened again for the third time.
Obviously we will not be so lucky this time, because this time the real estate industry has experienced the largest decline, the longest period, and more people have gone bankrupt than in 1982.
Since Xie Ruilin was looking for death, Lin Zuhui decided to find a way to buy 'Xie Ruilin Jewelry' to avoid seeing the arrogance of the little old man. It turned out that Lin Zuhui once went out to dinner with his own woman, and Xie Ruilin actually brought a young girl up to say hello. This was not expected
What's the problem, but he has a "disdain" for his woman, probably because he thinks that Lin Zuhui is just like him, such a casual man who can just find a girl to eat with him. Little does he know that he can go out to eat with Lin Zuhui
Women are all his concubines.
After Chen Xiaofen left, Lin Zuhui seemed to be in a good mood in the office!
Seeing others lose money seems to satisfy him more easily than making money himself. I don’t know what this mentality is.
In the end, Lin Zuhui comforted himself that this was because of the dominance of thoughts in his previous life.
........
The Entertainment Building was sold for a sky-high price of HK$3.96 billion, causing a huge sensation in Hong Kong.
The unit price was more than 22,000 per square foot, which set a record for property transactions in Xiangjiang. At the same time, Xiangjiang's real estate continued to develop rapidly due to such news.
As for whether there are careful people who pay attention to why New Era Group wants to sell the Entertainment Building, there must be some, but they won't care too much.
New Era Group has invested a lot of funds overseas in recent years. Although the reason given by New Era Group is that 'Hong Kong is too small to accommodate New Era Group', everyone still knows that Mr. Lin Zuhui's eyes are on the whole world;
At the same time, the property built above the Central Airport Railway Terminal has a total investment of 45 billion, which is also confusing. After all, if Lin Zuhui was not optimistic about Hong Kong, he would not invest huge sums of money in this project.
Therefore, the impact of the sale of the Entertainment Building is there, but it is a positive impact. The stimulation of this news has made the transactions of Xiangjiang Property more active.
In fact, the Entertainment Building was sold to Hysan Land for more than 3.6 billion in its previous life, and was listed as a classic example of Liu Luanxiong by the Xiangjiang business community, because when Hysan Land was sold in 2005, it was only 2.7 billion, which is enough
Lost more than 900 million.
It is not unusual for New Era Group to be sold for more than 300 million. It is possible for such an increase in one or two times; what's more, there are no very specific standards for this kind of building.