In the living room of Sun Hung Hotel, not only all members of Sun Hung Club Xiangjiang were present, but members of Nanjiang Club Xiangjiang were also here.
The two parties gathered together tonight with only one purpose, which is to jointly respond to the suppression of the Tung Wah Association.
Two days have passed since the local auction, and neither the Nanjiang Club nor the Sun Hung Club has collected anything yet. As long as they bid, the Tung Wah Club will inevitably be targeted.
Although they later intended to raise prices, Donghua Club relied on its own abundant funds and did not care about the inflated land prices.
Tomorrow is the last day of this land auction, and it is also the most valuable 36 pieces of land. If they still get nothing tomorrow, then there will no longer be a foothold for them in the Xiangjiang real estate market in the next ten years.
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"Everyone, everyone is very aware of the current situation. I won't say any polite words. Today, I invite everyone to gather together to discuss tomorrow's local auction and how to develop it in the future under the guidance of the Donghua Association."
Listening to Li Zhaoji's words, all those present looked sad. The current sharp fall in the stock market had already made them very anxious. The actions of the Tung Wah Club on the local photo shoots undoubtedly made it worse for them.
In view of the current situation, it is difficult to come up with a more reliable suggestion at the moment. After all, Donghua Club has raised a large amount of cash in the stock market some time ago, and its debt ratio is very low. The stock market crash will not affect Donghua Club at all.
expansion.
However, they want to use part of their funds to support the stock market to prevent their company's stock price from falling too much and triggering a debt crisis. As a result, they do not have much funds to participate in this local auction.
Originally, all parties planned to acquire about 10 pieces of relatively valuable land with limited funds, but this plan obviously could not be realized because of the Donghua Association's targeting.
"I understand that everyone has been under a lot of pressure in recent days. The stock market has plummeted for four consecutive days, the market value of many listed companies has been cut in half, and the Donghua Association has shown an aggressive attitude.
But at this time, the less we can lose confidence, and in response to the suppression of the Tung Wah Society, we must launch a strong counterattack to let the outside world know that Nan Jiang Society and Sun Hung Society are among the six major business groups in Hong Kong, and they are not in vain.
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This time we are all sitting together, and we hope that both of us can put aside some of our past grievances and work together to deal with the Donghua Society."
After Li Chaoren finished speaking, Guo Desheng, Feng Jingxi, Stanley Ho, Chen Zengxi and others made speeches one after another. The core content was one, that is, the Sun Hung Society and the Nanjiang Society should temporarily forget their past grievances, strengthen cooperation between the two parties, and join hands to resist the Tung Wah Society.
Suppress.
However, some members present did not believe that the cooperation between the two parties would produce any better results. Many industries of Nanjiang Hui and Sun Hung Hui overlapped, and the competition between the two sides outweighed the cooperation.
Even if both parties can work together now, the effect will only be 1+1<2. Moreover, although Tung Wah Club, Sun Hung Club and Nanjiang Hui belong to one of the six major business consortiums in Hong Kong, the other five together are less than
Just a Tung Wah Club.
Let alone cooperation or merger, the two companies will not have much effect. In the future, their development in the Greater China and ASEAN markets will be greatly affected.
Regardless of whether it is the Nanjiang Association or the Sun Hung Association, some members have inner objections to the core members of the association. In the eyes of these people, attacking Xinjian Bank to obtain the right to issue Hong Kong dollar notes is completely an act that outweighs the gains and losses.
It is a pity that this group of people does not have much say in the association, let alone the will of the association.
After nearly two hours of discussion, Sun Hung Club and Nanjiang Club reached a number of cooperation agreements, the focus of which is on the last piece of land to be auctioned tomorrow.
This time, Henderson Land, as the representative, will compete with Tung Wah Association. After acquiring the land, both parties will jointly establish a real estate company to jointly develop it.
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After the meeting, Li Zhaoji, Guo Desheng and Feng Jingxi, the three Musketeers of Sun Hung Club, came to the hotel manager's office to communicate on the subsequent development of Sun Hung Club.
"Zhaoji, don't put too much pressure on me, it doesn't matter even if you really get nothing from this soil auction.
After all, the real estate market in Xiangjiang is only so big, and Donghua Club has always been inconsistent with common sense and always likes to suppress property prices.
In the future, we will still focus on the Southeast Asian market, the Japanese market and the northern market, leaving the Xiangjiang market to other companies."
"Desheng, to be honest, I regret a little. I shouldn't have helped Nanjiang Hang Seng Bank obtain the right to issue Hong Kong dollar notes, and I shouldn't have stimulated the Tung Wah Association, causing the Tung Wah Association to suspend its expansion in the external market and return its main energy to the Greater China region.
and ASEAN markets.
European and American capital is not a good thing either. Few of the promises we made were actually implemented, and this time they stabbed us hard in the stock market."
Neither Guo Desheng nor Feng Jingxi could say anything about this. The reason why Sun Hung Club has developed so fast in recent years is that the California consortium behind Merrill Lynch and the BNP Paribas consortium have given a lot of help.
Especially in terms of capital and technology, Sun Hung Hui relies on the support of these two parties to develop both the home appliance industry and the computer hardware industry.
Without the support of these two parties, the Sun Hung Association would not have the power it currently has in Hong Kong, second only to the Tung Wah Association.
It's just that this benefit is not so easy to obtain. Whether it is the California Consortium or the BNP Paribas Consortium, the main purpose of supporting the Sun Hung Society is to keep the Tung Wah Society in check.
Especially in the past two years, with the large-scale expansion of the Donghua Society in the global market, it has violated the interests of countless established forces.
This time, the Hong Kong dollar banknote issuance authority said that they are attacking the Tung Wah Association. In fact, it is mainly the world's established financial groups that are attacking the Tung Wah Association.
For example, the California Foundation and the BNP Paribas Foundation, the Mitsui Foundation behind the Nanjiang Club, the Rose Foundation behind the Far East Club, or the First Citigroup behind the New Asia Club.
Several people also knew very well that although the talks with Nanjiang Hui tonight were harmonious, the cooperation between the two parties could not last long at all.
This is not only determined by the two companies’ own interests, but also by the supporting forces behind them.
Even though these established forces have the same goal in targeting the Donghua Conference, all parties are also full of contradictions. The Japanese consortium and the American consortium are still the main competitors, and the relationship between Western European capital and American and Japanese capital is not very harmonious.
"Zhaoji, there is still a big gap between our strength and the world's top business consortiums. For the time being, we can only seek skin from tigers to promote the rapid development of our industry.
When we have the strength to compete with these forces in the future, we will no longer have to rely on others, and the Sun Hung Society will act completely according to our will, and no force will be able to dictate to us."
The ideal is good, but it is a pity that it is not easy to realize, especially now that Donghua will regard them as the target of suppression, which will inevitably hinder the speed of their industrial development.
And it is unlikely that they will continue to sell shares on a large scale to obtain funds to accelerate development. Sun Hung Club is the Sun Hung Club of their Sun Hung Kai Three Musketeers. This is their fundamental and bottom line. They will never let their core industries be controlled by external forces.
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Several people have also prepared for the worst. If there is really no other way, they will abandon the Xiangjiang market and focus on developing the ASEAN market and the northern market.
The other is to develop the U.S. market. Relying on the relationship with the California consortium, Sun Hung Hoi's low-end products will definitely have a good market in the United States.