Time soon came to March. Global Electronics had moved to an industrial office building in Yuen Long, and the two home appliance foundries it acquired at the same time also moved in. The three companies were combined without consuming the area of a single building. The other two buildings are still empty over there.
At Chen Zhiwen's request, the company's name was changed to Midea Electronics, which was a brand favored by later generations of Chen Zhiwen. Although it seemed that it could not beat Gree in the field of air conditioners and Haier in the field of refrigerators, it was the most successful electrical appliance brand in the mainland. Its English name, Media, is also very suitable for globalization.
Since then, Midea Electronics has had three major businesses. The first is the radio business, which is the largest business. Although orders have dropped due to the poor economic situation abroad, it still has more than 350,000 orders every month and has sales all over the country. In more than 40 countries around the world, some of these channels can theoretically serve other products. Now, with Chen Zhiwen's capital injection, the radio business department once again tried to develop car radios, and once again caught up with Toyota, but it just didn't have the ability. Under such circumstances, we can only rely on low prices to attract Toyota's purchasing department at a loss.
But it doesn’t matter if a project loses money. The most important thing is to get into their supplier list. As long as you get in, you will be qualified to take on the business of other car models. You can also rely on Toyota’s reputation as a supplier to try to compete with other car brands. cooperate.
The second business is naturally televisions, and the third is refrigerators and air conditioners. These two businesses are still OEMs, and they are also developing their own brand products, but essentially they are changing the appearance to prevent infringement. Now There is only so much that can be done. As long as the products are sold and the company's funds return, it can naturally carry out deeper research and development.
At this point, Midea Electronics is on the right track. Although it can't make money now, it can't lose much, and Chen Zhiwen won't worry about it in the short term.
What worries Chen Zhiwen is naturally the acquisition of Yonggao.
Yonggao is not a listed company and cannot be acquired from the stock market. After many contacts, HSBC finally got a price: HK$190 million.
"190 million Hong Kong dollars, can't it be cheaper?" Chen Zhiwen looked at Shen Bi and asked after seeing the quotation.
Shen Bi shook his head and said, "Sheng Chen, this is a building in Central and close to Victoria Harbor. Although the current low price is not good, even if you want to buy this land, 190 million Hong Kong dollars may not be enough."
"It's not enough, but unfortunately it's a hotel. If it were an office building, doubling the price wouldn't be a problem." Chen Zhiwen said with a smile.
The Hilton Hotel was built in 1961. In that year, the price of the land below the Hilton Hotel was HK$13 million. After two high land price appreciations, if it were an office building, the price would exceed HK$300 million, which would definitely not be a problem.
The problem is that it is a hotel, and the income of Hong Kong hotels is very low. In the next 80-90s, more than ten hotels in prime locations were demolished and built into office buildings. Except for the Mandarin Oriental and Grand Hotel in Hong Kong, A very famous hotel cannot make much money even if it does not lose money, and its economic benefits are far less than those of office buildings.
Now that the hotel is already there, even if an investment institution acquires it and then converts it into an office building, it will still cost a huge amount of money. The same goes for demolishing and rebuilding. Therefore, Land in the 1970s was very keen on acquiring office buildings in Central, but did not invest in Hilton. Only Li Jiacheng saw the value of the land in Central in the future and spent the money to acquire it. In the 1990s, land prices increased nearly tenfold. At that time, the cost of demolishing the hotel became It’s a drop in the bucket.
"What's Chen Sheng's psychological price?" Shen Bi asked.
"170 million Hong Kong dollars." Chen Zhiwen said: "If the other party does not agree, just delay it first."
"Okay, then I'll let Huo Duoli try again." Shen Bi nodded and said.
Chen Zhiwen said: "Then it will be hard work for Mr. Shen Bi."
"You're welcome, this is what HSBC should do. At present, this acquisition is almost done. At most it is a matter of price. Mr. Chen, after the price is set, how will the funds be arranged?" Shen Bi asked.
"I will take whatever funds HSBC is willing to give me, and I will accept the full loan." Chen Zhiwen said with a smile.
"Chen Sheng is really good at joking. How can you get a full loan?" Shen Bi thought for a while and said, "Well, I can promise to provide 80% of the funds, and the collateral is the two hotels in Yonggao."
"The property mortgage of Hilton Hotel is no problem, but the one in Indonesia is not. If Yonggao takes over, I will sell this five-star hotel." Chen Zhiwen said.
He knows the future of Hong Kong. Although the tourism industry is average, the real estate industry is skyrocketing. As for Indonesia, he is confused. Although Indonesia's tourism industry is also good, he has no interest in investing his precious funds here. If you don't like this industry, you might as well get rid of it. The funds obtained can easily be multiplied several times in a few years in Hong Kong or internationally.
"That's okay. I also know some Chinese families in Indonesia. Let's do it this way. When this acquisition is completed, I will ask for you to see if the rich families in Indonesia are interested." Shen Bi also understood what Chen Zhiwen meant. He nodded and said.
"It seems that nothing can trouble Mr. Shen Bi." Chen Zhiwen said with a chuckle. The resources of these bankers are indeed large enough. It is estimated that the richest people in Southeast Asia can be contacted through friends even if they do not know each other. A strong network of relationships can often bring huge business convenience.
"After being around for so many years, I always know some people. With Chen Sheng's current achievements, he will also become one of the best in the future." Shen Bi smiled and asked: "Chen Sheng, if you sell hotels in Indonesia , In this way, you will still have a lot of funds in your hands. Now that the international oil crisis has passed, you can consider other investment plans."
"I'll think about it, but I have to wait until I come back from the United States." Chen Zhiwen said kindly. In the past few months, he had met Shen Bi several times, and each time he would encourage him to invest. It was Chen Zhiwen's money in HSBC that made him The top management of HSBC is jealous. If they vigorously develop the real estate market with a capital of 100 million and all major loans go to HSBC, HSBC will be able to earn at least tens of millions of Hong Kong dollars in one year. You know, HSBC's net profit last year was only 300 million Hong Kong dollars.
Although there is a Yonggao acquisition loan that also goes to HSBC, it is a one-time transaction. Only investing in real estate will keep money flowing, and it can also drive related industries and property buyers to enter the HSBC system. Although HSBC is currently the second largest bank in Hong Kong. First, there are too many small banks competing for the market. Shen Bi is definitely more concerned about big customers.
"You want to go to the United States? Travel?" Shen Bi asked.
Chen Zhiwen nodded and said, "Yes, traveling, going to the United States."
