Chapter two hundred and ninety-ninth no forever friends
Li Jianhui inspected his property in Tin Shui Wai. In order to maintain the stability of the Hong Kong stock market, the Securities and Exchange Management Office also issued penalties for falsifying financial statements.
Similar to what Li Fuzhaotan said, the punishment was not severe. Each company was only fined 10 million Hong Kong dollars, while individuals were not punished.
The most bizarre thing is that less than an hour after the announcement of the punishment was released, the Securities Law to increase the number of laws related to the falsification of financial statements was passed by the Legislative Council.
Starting from January 1, 1981, any listed company that falsifies its financial statements to the exchange or to the public will be held accountable in accordance with the new law.
This law is much stricter. Companies are fined starting at 10 million, with no upper limit. Directors, executives, and financial officers of the company will all be punished. In serious cases, they will be sentenced to imprisonment, and companies that commit financial fraud will be strictly ordered to withdraw from the company.
The city’s assets will give priority to compensate shareholders for their losses.
This law is a red line for listed companies. If this red line is crossed, the company is basically finished.
This also reminded Li Jianhui of the famous Enron Corporation in his previous life, a behemoth in the US stock market with hundreds of billions of dollars in revenue, which suddenly collapsed due to financial fraud.
The emergence of this law is a considerable protection for stock investors. With this, at least they don't have to worry about buying shares of a certain company, and the company is just an empty shell.
It will also help the Hong Kong stock market and finance become bigger and stronger, because this law will attract more investors and capital to enter the three major exchanges.
Because the Kowloon Stock Exchange and the United Stock Exchange are all imitating each other, Li Jianhui and others' plan will naturally not be able to continue to be implemented.
Therefore, in the afternoon of that day, Shixin Building Materials and Yuen Long Plastics released new third-quarter financial statements, and the Far East Exchange also announced that it would resume trading of the two companies tomorrow.
That night, Li Jianhui attended a party held by the charter king.
The guests invited by the Charter King this time are all members of the four well-known consortiums: Xianghua, Donghua, Huaxin and Xinya.
From the Tung Wah Association, Li Jianhui, Li Guobao, Lei Juekun, Feng Jingyao, Zhang Guangwen and Guo Zhiquan all received invitations.
The party was just a cover. As soon as he heard the words of the Charter King, Li Zhaoji and others, Li Jianhui knew that this Donghua party was going to be targeted.
"Sheng Bao, that's enough. Our Donghua Association has never thought of targeting Chinese-owned enterprises, and we have no intention of becoming enemies with anyone.
In the past two years, our Tung Wah Club Real Estate focus has avoided the prosperous places such as Hong Kong Island and Kowloon Peninsula, which are the focus of development by various parties, and has chosen the New Territories for development.
The focus of our financial industry has shifted to these places to avoid too many conflicts with all parties.
Even in terms of film and television media, our development is very different. Jiayi, Xinyicheng, etc. do not rely on their strength, resources, and reputation to poach your talents."
Although Li Jianhui was a bit evasive, what he said was correct. If there was pressure from the United Camp before, they would not be willing to have too big a dispute with Donghua.
But now, because of the Carinian incident, a series of problems have arisen. Hang Lung has directly left the alliance camp and is bent on following the Mitsui Consortium.
The members of the Nanyang Consortium are like rabbits and foxes. They also broke away from the joint camp and became independent in Xiangjiang. They will no longer join other camps.
Swire, Jardine Matheson, and Standard Chartered have shrunk their power in Xiangjiang, shifted their focus to Southeast Asia and Australia, and do not intend to continue fighting with other companies in Xiangjiang.
At present, the joint camp consists of core industrial groups such as HSBC, China Power, Heung Kong Electric, Cheung Kong, Shun Tak, Wireless, and Golden Harvest, plus several inactive companies such as Jardine Matheson, Standard Chartered, and Swire. They no longer have the strength to overpower the other four major companies before.
Advantages of the consortium.
When there is no common enemy, it is difficult for the four major consortiums to maintain their previous restraint. Just like the Xiangjiang Real Estate Construction Chamber of Commerce, this chamber of commerce is basically a decoration. The original meeting once a month is now too redundant once every six months.
Among the four major Chinese-funded consortiums, the strong strength of Tung Wah Hui undoubtedly makes the other three feel a huge threat, and forces the three parties to join forces to jointly deal with Tung Wah Hui.
It just so happens that Li Jianhui's operation this time gave the three major consortiums an excuse to join forces. The three companies targeted this time are Yihui Technology, which belongs to Huaxinhui, Jiarui Electric, which belongs to Xianghuahui, and Jiali Furniture, which belongs to Xinyahui.
I don’t know if it was a coincidence, but the three listed companies Li Jianhui chose on the Kowloon Stock Exchange happened to be preparatory members of the three major consortiums.
"Li Sheng, because of your choices in the past few years, we have indeed reduced a lot of disputes in many aspects. I also hope that the two parties can get along with each other like this.
We have always respected the development of Tung Wah Hui Enterprises, so why should Li Sheng be so hard on us? If the Kowloon Stock Exchange had not responded in a timely manner, I am afraid that the three companies of Yihui, Jiarui and Jiali would have changed hands by now."
"Zheng Sheng, you have wronged me. These big companies are all very good companies. I can't bear such companies to suffer too much losses, so I stepped in to protect them. I have no intention of acquiring these companies.
the meaning of."
Those present have long been used to this. Although Li Jianhui is not yet twenty years old, his face is no less thick-skinned than those of them who have been working hard in the business world for decades.
They can guarantee that Li Jianhui definitely intends to acquire these companies. He is saying this now because the acquisition has not been successful, and he is also improving his own image.
The Charter King spoke up: "Li Sheng, we Ming people don't tell secrets. The current situation is that Donghuahui is the only one company, and the capital is quite strong. We alone are not your opponent at all."
We all have the same origin, and are all descendants of China. We hope that everyone can cooperate more instead of competing. The market in Xiangjiang is so big, why should we fight in this small place? In the end, our strength has not improved much.
, and it made everyone unhappy, what do you think?"
"I very much agree with what Bao Sheng said. I don't want everyone to be unhappy, but it's useless just to think so. It depends on what everyone thinks.
I heard that the recent development of Xianghua Trading Company can be described as rapid. The monthly turnover continues to rise, and last month it was as high as nearly 500 million Hong Kong dollars.
I'm afraid it won't be long before our largest Chinese enterprise in Xiangjiang will become Xianghua Trading Company."
Because Li Jianhui turned the Huihong Group from his left to his right, the largest Chinese-owned enterprise in Hong Kong is currently the Xinjian Group, with a current valuation of HK$50 billion.
Although the development of these Xianghua trading companies is indeed good, it is almost impossible to surpass Xinjian Group in a short time.
Those present knew this, but this did not prevent them from attaching great importance to Xianghua Trading Company, especially Zheng Yutong, Li Zhaoji and others.
They know very well that the Xianghua Society has a close relationship with the mainland. If this steady development continues, they are likely to be thrown away by the Xianghua Society.
What Li Jianhui wants is to take root in the hearts of these two consortiums, so that even if the three companies cooperate to target the Tung Wah Association, it is unlikely that they will work together.