Chapter five hundred and eighty-four Xianghua will be forced to a dead end
Looking at Li Jianhui and others on the news, the members of the Xianghua Society felt so depressed that they couldn't find any words to describe it.
They spent a lot of time communicating with the North and finally gained access to some industries. Donghua would be better off and just gain access to the Northern market under the same conditions without any effort.
Moreover, they were accused at the press conference of being irresponsible and not taking into account the interests of shareholders.
What worries them most is that Donghua will enter on a large scale. In fact, they have long known that they cannot win against Donghua in fair competition.
The reason why they mentioned twenty years this time was to block some people who wanted to enter. After all, not many people dared to bet on their family for twenty years.
It’s just that they found that they had underestimated Li Jianhui and Donghua Hui. The other party didn’t care about twenty years. In order to speed up the expansion in the northern market, they even temporarily slowed down their overseas layout.
How could the Heung Wah Club compete with the Tung Wah Club when it comes to financial resources and market share? At least in terms of cinemas, their Kowloon cinema chain lost before they even started.
No matter whether it is the expansion speed of the theater chain or the quality of movies released in the future, they cannot compare with it. The Golden Princess Cinema Line can spend a large amount of Hong Kong dollars to share the box office with the cooperative film companies based on the exchange rate, but the Kowloon Cinema Line cannot
Such strong financial resources.
After all, after this strategic adjustment, their main markets will be in the north. There will no longer be much profit in Hong Kong and other markets, and naturally there will not be much Hong Kong dollar and foreign exchange income.
It can also be seen from this that these people are just red businessmen at best, not entrepreneurs, let alone capitalists. An enterprise that can only make money for its own country and its people is definitely not a good enterprise.
On the contrary, people like the Donghua Association are more suitable to be called capitalists, because these companies mainly make money not from their own country and its citizens, but from the policies of other countries. When it comes to exploitation, they mainly exploit the citizens of other countries.
At noon, in a private room at the Xianghua Hotel, there were delicacies on the table, but no one there was moving their chopsticks. It was more like a lunch party than a luncheon.
The new generation of young helmsmen of the Dong family were obviously not as calm as the elders, and they first said: "Uncle Huo, Uncle Bao, in the past few days, the stock prices of its properties have plummeted, which has caused a lot of complaints from investors.
Now Li Jianhui and others are openly and covertly attacking us for being selfish and disregarding the interests of shareholders.
If we remain silent any longer, I'm afraid our reputation in Hong Kong will be completely ruined."
Although everyone knows the situation we are facing and how it can be solved, the main problem is the lack of something that can be solved, that is, funds.
The best way now is to follow the example of Golden Princess Cinemas and use a large amount of funds to buy back the shares from shareholders to complete the privatization.
But they can't come up with that much money, so they can't do it. Even if the stock price plummets now, they don't have the capital to privatize it on a large scale.
Because Xiangjiang has compulsory acquisition regulations, once a compulsory acquisition or privatization occurs, the acquisition will be carried out at the highest share price in the last six months.
For example, for Golden Princess Cinema, the repurchase of the shares held by these shareholders this time was not at the suspension price, but at the highest price from December 9 last year to June 9 yesterday.
Development has not been smooth this year, especially in the past six months. Many companies under the Tung Wah Association have been tearing down the east wall to make up for the west wall. Funds are stretched thin, and there is no money left to buy back shares.
Now that Xianghua Club wants to get out of the predicament and have funds in hand, it needs to sell some properties or directly sell the company.
It's just that these enterprises are the lifeblood of each company. Who would be willing to sell them unless they have to?
If there was really no other way this time, they would not have sent their entire family to the north.
Moreover, they still have a large family to support. If the only property in Xiangjiang is sold, how can their family gain a foothold in Xiangjiang?
It can be said bluntly that the image and reputation they have worked hard for for decades in Xiangjiang have been completely destroyed by the Tung Wah Society headed by Li Jianhui. Now the only people who respect them are the only ones in the north.
It's just that they know very well where their own value lies, so no matter how they develop, they can never shake their footing in Xiangjiang. Once they leave Xiangjiang, they will really be nothing.
As the president, the Charter King also knew that he could not act without his words, otherwise the Xianghua Society would be completely destroyed.
"I know everyone is under great pressure, but we cannot be discouraged. In order to promote the development of our Xianghuahui industry in the northern market, I will sell Global Shipping Group in exchange for funds to repurchase some of our Xianghuahui properties.
Especially several major garment and textile companies, let these companies complete privatization."
As another leader, although he has not officially joined the Xianghua Society, the head of the Huo family, who has a high status within the Xianghua Society, has also stated that he will sell his real estate in Xiangjiang and buy Xiangjiang after withdrawing the funds.
Huahui's corporate shares have helped some companies complete privatization.
The chairman of the board of directors of Xianghua Bank and the head of the Wu family also spoke out: "Considering that our main development in the future will be in the mainland, our banking business will be greatly reduced. Therefore, I suggest that the two Xianghua Banks be sold in order to obtain funds for development.
Other industries.”
The more everyone here listened, the more ashamed they felt, and the more they listened, the more desolate they felt. What was shameful was that they did not have the courage to sell their main business to help the development of other companies in Xianghuahui. What was sad was that the number of core companies in Xianghuahui was constantly decreasing.
The former Wharf, Johnson Electric, Kowloon Exchange, Kowloon Cinemas, Kowloon Airlines, etc. have been lost.
Now we are preparing to sell Worldwide Shipping Lines and Hong Kong Bank, so in the future, will it be our own company’s turn?
But don’t forget that in addition to the loss of these enterprises, there are also many enterprises that are half-disabled, such as Hip Shing Hong and Huo Group, which have sold a large number of properties in the past year.
Many times, they really can't understand why the Xianghua Society, one of the five major associations in Hong Kong, was second only to the Nanjiang Society and the Tung Wah Society, and has developed into this situation.
On the contrary, the market size of the other four companies is constantly expanding, their assets are constantly increasing, and their industries are constantly enriched.
As for the direction of development, judging from today's Golden Princess Cinema press conference, there is nothing wrong. Otherwise, Li Jianhui, a monster in the business world, would not be betting heavily on the north.
The confusion and puzzlement in my heart, but the inability to find an answer, also made the luncheon at noon today seem particularly boring. There was no lively scene of drinking and drinking, and there was no leisurely chat.
The chartered boat king who sent everyone away just sighed, not knowing how much unwillingness and helplessness there was.
In the late 1970s, he was a world-class shipping king. He was received by senior officials from all over the world wherever he went. He was also the richest business leader in Hong Kong.
However, a few years have passed, and now the world has changed. His era has finally passed. Once the Global Shipping Group is sold, it will mark the end of a generation of shipping kings.
From now on, when talking about it, he will become an older generation of shipping kings and will never regain his former glory.
His only thought now is that the northern market will allow the Bao family and Xianghua to rise again, hoping that he will not lose everything in the biggest bet in his life.