After a weekend run, all three major indexes opened with a gap on Monday morning. Banking stocks and real estate stocks became the main culprits of the stock market crash.
No matter whether it is the powerful banking giants such as HSBC, Standard Chartered, Xinjian, East Asia, or real estate giants such as Hutchison Land, Chinese Land, Guanghua Construction, Kowloon Construction, Jardine Matheson Land, Sun Hung Kai and other real estate giants, they have not escaped the fate of the crash.
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In particular, Chinese Land, Kwong Wah Construction, Kowloon Construction and Hutchison Land currently do not have many development projects in Xiangjiang. Just because they hold a lot of reserve land, they have been implicated and their stock prices have been significantly suppressed.
fall.
Although today is Monday, the number of people withdrawing money from major banks is not much less than yesterday. The banks with strong strength are still sitting there, but those banks with less strong reserves have already felt the huge pressure and have begun to drag their connections to ask for help.
I don’t know what the Bryan government is thinking this time. They pretend to be unaware of such a serious matter and have no intention of standing up to stabilize the situation.
However, Li Jianhui and others registered the company very quickly, and it is a wise saying that things can be done easily with good connections. In less than two hours, Jardine Real Estate Group completed all the registration procedures.
In order to give confidence to the bank customers of the Tung Wah Association, Li Jianhui, as the chairman of the board of directors and president of Xinjian Bank, rarely attended today's joint press conference between several major banks and Yijia Real Estate Group.
As long as there is Li Jianhui, there will be no lack of popularity. At nearly three o'clock in the afternoon, in the Xinhui Hotel conference hall, all local media in Hong Kong were absent, and many international media also arranged for reporters to attend.
The person who presided over the meeting this time was Feng Yanfang, general manager of the administrative department of Yijia Group. In addition to Guo Zhiheng, president of Yijia Group, Li Jianhui, president of Xinjian Bank, Li Guobao, president of Bank of East Asia, Feng Jingyao, president of Daoheng Bank, Guo Zhiquan, president of Yongan Bank,
Chen Zeming, general manager of K. Wah Bank, and Shen Jiazhen, general manager of Union Bank.
These are also the top six banks with headquarters in Hong Kong this year. The other four are HSBC, Sun Hung Kai, Far East, Wing Lung, and Standard Chartered. Although they are strong, their headquarters are in London.
As reporters from Xiangjiang media, they are naturally well-informed. One look at the two senior executives of Yijia. The president, Guo Zhiheng, is Guo Zhiquan’s cousin, and the general manager of the administration department, Feng Yanfang, is Feng Jingyao’s daughter.
In addition, according to the news, Lei Juekun's son Lei Zhaoshen became the vice president, Li Guobao's cousin Li Guoli became the financial director, and Liu Hongjian, the sales director of Xinjian Real Estate, quickly joined Yijia as the executive vice president. From this, we can understand that this group
It must have been jointly invested and established by many members of the Tung Wah Association.
“Thank you very much to all the media reporters for coming to attend the joint press conference held by our Yijia Group and our partners.
This press conference is mainly about our Yijia Group reaching cooperation agreements with Xinjian Bank, Bank of East Asia, Dao Heng Bank, Wing On Bank, Ka Wah Bank, and Union Bank. We will acquire them at a price one level below the current market price.
All the houses held by the six major banks have been cut off.”
The main reason why major banks are experiencing runs now is because of the large-scale suspension of housing supply, which caused the banks to lose funds and only get a pile of reinforced concrete.
And now Yijia Group has directly absorbed all of these six major banks and stopped providing housing, which directly resolved the crisis of the six major banks.
Even though the price is one level lower than the current market price, it still helps the six major banks, rather than taking advantage of the situation.
Although property prices have fallen quite miserably in the past two years, looking at the current situation, they will continue to fall. I believe that if it were not for Yijia being a self-owned company, the price this time would not be one floor lower, but two or even three floors.
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And because of the acquisition of Yijia, the six major banks not only withdrawn the funds, but also because the people who purchased these properties paid a down payment and several years of interest, these properties were not all purchased at peak prices. Therefore, the six major banks
You won’t necessarily lose money, and it’s hard to say whether you will still make money.
During the question-and-answer session, a reporter from Jiayi TV was the first to speak: "Mr. Guo Zhiheng, we all know that Xin Jian and other six major banks are first-class or even top-notch banks in Hong Kong, and they also have many customers. This has also led to the suspension of housing payments.
It may also be the most. I wonder if Yijia Group’s capital is enough to win these houses that have been cut off?”
"Thank you very much for your concern for the strength of our Yijia Group. Although our group was only officially established today, our shareholders have invested 10 billion Hong Kong dollars for the development of the group.
This time our acquisition of houses that have been cut off by the six major banks will be a wholly-owned acquisition, and will not be a cyclical acquisition in the form of mortgage and refinancing."
The reporters present could only complain in their hearts that they are willful if they have money, and they can create a company with a market value of tens of billions at will.
And they have no doubt that the 10 billion funds have nothing to do with the six major banks. Even the shareholders behind this group will not be involved with the shareholders of the six major banks to avoid telling the truth.
Because of Li Jianhui's leadership, the shareholders of Xiangjiang companies are now simply dazzling. If you don't know the development context, it is difficult to know which company belongs to which company. On the surface, including Li Jianhui, they are just professional managers, and the proportion of shares
Extremely low.
Even for them who have been in Xiangjiang, it is now difficult to know who holds how many shares in each major company. They can roughly know which consortium the company belongs to based on the person in charge of the company.
Compared with Jiayi TV station who asked some innocuous questions, other reporters were much more sharp. Especially since Li Jianhui finally attended today, they would not miss this opportunity.
A reporter from Oriental Daily said: "Mr. Li Jianhui, we all know that the bank run happened this time because of the supply cutoff, and the supply cutoff was due to the plummeting property market, and the plummeting property market was mainly due to the current situation. I wonder if you
What are your views on the current bank runs, the sluggish property market, and the current and future situation?”
This reporter is a bit of a thief. In order to maximize the opportunity to ask questions, he merged three questions together at once.
“There are various opinions on the current situation, and citizens are also a little uneasy, and I understand everyone’s mood very well.
In terms of bank runs, this is not a big problem and I believe the major banks are strong enough to weather this crisis.
As for the property market, you have also mentioned the reasons. When exactly this aspect will improve depends on when the situation can be settled. Before then, the property market will definitely continue to fluctuate at a low level.
As for the future situation, I personally am quite optimistic. As long as this period of time is passed and the situation is settled, our economy will inevitably usher in a new period of rapid development."
The reporters present were obviously not satisfied with Li Jianhui's response. When it was the Sing Tao Daily reporter's turn to ask questions, the other party asked Li Guobao.
East Asia Holdings has announced that it will invest HK$5 billion to build East Asia Tower in Tseung Kwan O. However, more than a month has passed and this investment is still rumored, with no substantial progress.
“Thank you very much for your concern for our East Asia Holdings. Regarding the construction of East Asia Tower, everyone knows that the investment is huge and the corresponding design requirements are relatively high.
For this purpose, we at East Asia Holdings specially invited the famous Chinese architect Master Bei Jinming to design for us. However, everyone knows that Master Bei Jinming is very busy with his business and the design does not take only one or two months to complete, so we did not start construction immediately.
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But please rest assured that our East Asia Building will definitely start construction as soon as possible. In the future, the Tseung Kwan O business district will be the headquarters of our Bank of East Asia, Chinese Real Estate, East Asia Pictures, and East Asia technology companies."