Chapter 083 [Development Plan for the Second Half of the Year]
Monday, June 24th.
When Lin Zuhui walked into the New Era Real Estate Company, the staff all looked at him with admiration. This time, New Era Real Estate acquired Aimeigao. Although it failed, it still won. The profit-making exit is more beneficial to the development of the New Era Real Estate Company; importantly, a transaction
A non-recurring profit of RMB 23 million is something that most small real estate companies cannot achieve in a year.
And their boss is said to have helped the company make such a huge sum of money in just three weeks.
Lin Zuhui sat in his office and asked his assistant to call Liang Zhenxun to come to the office.
After a while, Liang Zhenxun came to his office.
"boss!"
"Well, sit down!"
Liang Zhenxun sat on the sofa respectfully. This battle established Lin Zuhui's position in his heart. This boss was very powerful and discerning, and his timing was excellent.
How did the boss know that Liu Luanxiong was going to return to Aimeigao? Without Liu Luanxiong's competition, the company could even succeed in the acquisition, but it would be a burden for Aimeigao. After all, the company's energy is now spent on real estate.
Liang Zhenxun is in charge of the company's finance, securities, property purchase and other tasks, and is regarded as Lin Zuhui's deputy; while Gao Yi is in charge of rent collection and Chen Bin is in charge of property development; the three are like the three carriages of the new era real estate, and
Lin Zuhui is the one who holds the whip.
"How are the talks with Hang Lung Properties going?"
"It has been negotiated. They are eager to get the funds back. We only need to pay a 10% down payment and the transaction can be completed this week."
"Okay, make an appointment for me to sign the contract!"
In 1981, Hang Lung Real Estate invested in the property rights above nine stations of the island's subway line. Unexpectedly, when it developed the property rights above the second station, Admiralty Station, real estate prices plummeted; at that time, because banks refused to provide loans, Hang Lung suffered losses.
He lost 400 million Hong Kong dollars in tart ordering fees. The loss was far more than this, and there were also issues such as the company's reputation and confidence.
Therefore, the old Chen Zengxi was frightened out of his courage. Although he and the subway company re-agreed with the subway company last year on the development rights of residential properties above several stations, he hurriedly began to sell off-the-plan properties. Hang Lung was anxious
Return of funds.
The residential properties in these Hang Lung stations total more than 9,000 residential units, which is comparable to two large housing estates. They have been selling off-the-plan units since October last year (1984), and it is expected that the units will be sold in two and a half years.
The sale is completed in the flower way; the current price is only 500 to 600 yuan per square foot, which is extremely cheap.
Since Hang Lung wants to sell off-the-plan properties, it is of course most convenient to cooperate with real estate companies and real estate speculators to ship large quantities at one time.
Therefore, New Era Real Estate has reached an agreement with Hang Lung to purchase more than 500 residential units in its four buildings with a down payment of 10%, while New Era Real Estate only needs to pay about 25 million in pre-construction fees.
Lin Zuhui has calculated that in just about two and a half years, housing prices in Xiangjiang will double; the annual increase is more than 30%, and bank loans are now only 12%. It seems that a house only earns more than 20% a year.
profits; but don’t forget that the down payment of New Era Real Estate is only 10%. They could only buy one house with the money, but now they can buy 10.
Therefore, the profit in a year should be more than double. This is the normal way to buy off-the-plan properties. With an investment of 25 million, the profit alone in a year is 50 to 60 million, or even more.
Because of this "cowardly" strategy, Hang Lung lost more than just the profits from selling properties; Hang Lung was very wary of the real estate cycle, and its land bank was maintained at a very low level. With Cheung Kong, Sun Hung Kai, Henderson Land Development,
The new world is so far away.
Hang Lung even sold half of its interests in certain large-scale properties with potential to Henderson Land Development, and the other party planned the development and sold them as agents. This move also weakened Hang Lung's profits.
Of course, Hang Lung’s behavior is not incomprehensible. After all, Eagle Real Estate of the same size almost went bankrupt, and Hang Lung Real Estate also encountered operating difficulties. The land in Xiangjiang was greatly affected by the mainland, and many real estate developers went bankrupt if they were not careful.
.
After talking about the uncompleted property, Lin Zuhui added: "Let's make arrangements. This week we will pay off all the property payments and complete the transaction!"
"Okay, I'll arrange it right away!"
After Liang Zhenxun left, Lin Zuhui stretched himself, and he was destined to be reluctant to sign autographs this week.
New Era Real Estate has been looking for land and properties since mid-May. So far, it has settled on land worth HK$110 million. The property subscription fee has just spent the HK$115 million in raised funds and bank loans.
The 23 million earned this time was also used to purchase off-the-plan properties worth 250 million.
The company is currently developing six properties, which can be said to be full steam ahead.
The only impact is that bank loans have reached 150 million!
But this is not a problem. The property assets of New Era Real Estate have reached 350 million, and the debt ratio is less than 40%.
Next, Lin Zuhui will certainly not be satisfied with the status quo. Playing it safe is not his style!
First of all, the Hang Seng Index has begun to rebound and is expected to have a small climax in August, so he wants to raise funds through a rights issue at that time and use the funds to purchase land and properties;
Secondly, it is expected that starting from July, Xiangjiang's real estate will experience a big surge, with the half-year increase expected to reach more than 25%. In August, he will revalue the company's assets, boost the stock price, and provide a better way to raise funds for rights issues.
conditions of.
In the end, he will continue to persuade banks to lend money to New Era Real Estate, even if it is 70% of the debt, he will be happy to do so; the current bank interest rate is 12% (it will drop again in 1986), which is very friendly to real estate companies
.
After roughly formulating the development strategy for New Era Real Estate in the second half of the year, Lin Zuhui smiled. According to this development rate, New Era Real Estate will be among the top ten plutocrats in the 1990s. Of course, China Entertainment and China Real Estate will have to win next year.
Only then are you qualified to say that.
If one company raises funds through rights issues, then there are three companies that raise funds through rights issues and make money quickly!
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In the afternoon, Lin Zuhui took time to visit Wanhui Publishing House.
In the office, Cai Ning, the former secretary, went to the "DreamWorks" film company, which was somewhat different.
Liang Guanhui, editor-in-chief of "FHM" magazine, and Xu Shenglin, editor-in-chief of "GOOD" magazine, came to Lin Zuhui's office together. The editor-in-chief of Xiangjiang magazine also worked as the president, so they were equivalent to Lin Zuhui's direct subordinates. Listen to them first
Reporting.
Liang Guanhui first said with envy: "The sales of GOOD cards are booming, and our team is crazy with envy."
Xu Shenglin said proudly: "The monthly sales of GOOD cards are expected to reach 2 million, with a net profit of about 600,000; and this figure is still increasing. The boss's move is more profitable than running a magazine!"
The monthly net profit of "GOOD" magazine is only RMB 600,000 to 700,000, and the profit growth rate is indeed not as fast as that of GOOD Card.
"Although GOOD cards will usher in a peak, once students collect them all, they will definitely decline. Magazines are different, and they are at a steady growth level. Of course, magazines and cards are complementary to each other. If you run a good magazine, GOOD cards can
More salable.”
Xu Shenglin nodded seriously. The boss was also beating himself up.
Next, both parties reported the expected profit levels for this month, which surprised Lin Zuhui.
"FHM" magazine has RMB 1 million, and "GOOD" magazine has RMB 1.3 million (including celebrity cards). The profit in June is expected to reach RMB 2.3 million.
Lin Zuhui did some calculations and found that this year he will earn 18 million yuan from Wanhui Publishing House. If the movie "A Better Tomorrow" earns him another 10 million yuan, he will not need to pay for the personal debts he owes Wang Qilin, Fang Jin, and the bank.
I have to worry about borrowing tens of millions of dollars.
At this time, he had a cash flow of 6 million yuan and invested more than 5 million yuan in Nengda Technology stocks.
Now he can barely be considered a rich man!
By the way, with this achievement, Lin Zuhui plans to ask New Era Real Estate to increase his salary. The director's robe will be at least 100,000 a month, and the publishing house will also receive a monthly salary of 20,000;
Although his salary of 10,000 yuan cannot meet his consumption, it can at least alleviate his expenses.
"In the second half of the year, "FHM" will strengthen its international content and continue to improve men's taste; "GOOD" magazine will continue to work hard in three aspects. The first is the interaction between campus beauties and campus beauties, the second is the continued marketing of GOOD cards, and the third
It’s about strengthening news broadcasting in the entertainment industry.”
"Okay, boss!"
After the two editors-in-chief reported their work, Lin Zuhui went to talk to the leaders of each department one by one, and even chatted with the staff for a while before finishing the work of the publishing house.