The Hung Hom area cost more than HK$400 million to convert from industrial to commercial, which is actually in line with the land price in Hung Hom. After all, it is close to the seaside. The Star Ferry can go directly to prosperous areas such as Central on Hong Kong Island. At the same time, there is the Hung Hom Cross-Harbour Tunnel nearby, which transports entire goods from the mainland. Hong Kong's daily necessities trains are also unloaded after arriving in Hung Hom. The combination of multiple parties drives the population and economy of Hung Hom. If the future subway plan includes Hung Hom, then Hung Hom's future will definitely be second only to the Kowloon Peninsula.
What really attracts the attention of many people in Hong Kong is that Hutchison Whampoa was heavily in debt and almost bankrupt six months ago, but now it has the ability to spend HK$400 million at a time to convert this land for industrial use.
Moreover, since industrial reform has been carried out, it must be developed immediately. Otherwise, wouldn't it be a fool to spend 400 million and put the land there for nothing?
For such a large project, there is so much room for movement.
January 8, Hutchison Building Headquarters:
Today, Hutchison Whampoa's internal pyramid executives are all gathered here, because this is the first formal annual management meeting held after the merger of Hutchison Whampoa. The main purpose is naturally to summarize last year's results and the goals for the next year.
In the conference room on the top floor of the Hutchison Building, about 20 Hutchison senior executives, including Richard Richard, Zhou Jiayang, Cai Xiangnong, Peter Wei, Xia Boyu, John Jones, etc., were already waiting in the conference room. These people usually hold hands with The powerful senior people, now, naturally have to sit here early and wait for the arrival of the boss.
After a while, the door opened and Chen Zhiwen walked in together with a secretary.
"Hello, Chairman." Everyone stood up.
"Sit down." Chen Zhiwen waved his hand.
He has been in Hong Kong for more than three years. He has become accustomed to meetings without computers and other electronic products. He opens his own folders and notebooks. These were prepared by his secretary before the meeting. As for the notebook, he just takes notes. Although there are professional meeting record taker, but some things still need to be recorded by yourself.
"Everyone, the main purpose of this meeting is to summarize the development of Hutchison Whampoa in the past six months, as well as the future development plan." Chen Zhiwen paused and said: "From the formal establishment of Hutchison Whampoa to today , In fact, it has not been half a year, but in the past six months, we have given up a lot of business, but we have also achieved higher improvements in some businesses, so I would like to thank everyone in advance."
After speaking, Chen Zhiwen was the first to applaud, and then everyone applauded at the same time, and more than half of the Chinese people were even more excited.
In the past six months, Chen Zhiwen has repeatedly promoted outstanding Chinese people and sent Chinese people to the top management of Hutchison Whampoa. Some British ghosts who did not obviously surrender directly sold all the businesses they were responsible for.
disobedient? Your business is gone, why do you still need to do it?
Historically, Li Jiacheng did not dare to attack British capital after taking control of Hutchison Whampoa. That was because he wanted most of Hutchison Whampoa's normal business and wanted to take over all of it smoothly. However, Chen Zhiwen was different. Except for a few core ones, The rest doesn't matter at all.
With a golden finger that knows the future, even if you only develop one business, it can reach a huge scale. However, normal people, even if they are as capable as Li Jiacheng in business, have such strong uncertainty about the future. In the uncertainty Under the circumstances, many of Hutchison Whampoa's businesses were developing normally, and there was no absolute certainty. Li Jiacheng naturally did not dare to take action against Hutchison Whampoa's management at will. It was not until after three or four years of running-in that he slowly sent people to infiltrate Hutchison Whampoa. , in 1983 in the original history, Li Jiacheng officially drove away the British ghost boss of Hutchison Whampoa.
Because Li Jiacheng did not dare to touch the ghost guys at will, the ghost guys became very arrogant, ostracizing Chinese people everywhere, and fighting for the rights of the company. But now it is completely the other way around. A large number of businesses are being sold. Only those who are willing to be coward can stay, and those who are not willing to follow along. Get lost.
If it were not for the consideration of Hutchison Whampoa's overseas business in the future, coupled with his original commitment to Richard and the need for British ghosts for the port and some businesses, Hutchison Whampoa would have been completely taken over by the Chinese.
"Then let me introduce the development of Hutchison Whampoa's internal businesses." Richard stood up.
"Let's start with the trading business."
Richard gradually introduced Hutchison Whampoa's business and expressed the performance of the previous year with the clearest data.
"Hutchison Trading Company's total transaction volume last year was HK$670 million, including HK$85 million for mechanical processing equipment and mechanical products, HK$210 million for construction, HK$108 million for steel products, HK$73 million for clothing, automobiles, motorcycles, The bicycle category was HK$87 million and the other categories were HK$107 million, a year-on-year increase of approximately 16%. The main increase came from steel and construction, with a net profit of approximately HK$21 million.”
"Last year's real estate market can only be said to be a little better than that of 1974, with such a huge increase. Before the real estate crisis, how much was the typical transaction amount per year?" Chen Zhiwen asked.
Hutchison Whampoa's trading business is actually one of the main businesses, and the amount is not small. Chen Zhiwen also knows it, but he doesn't pay too much attention to it, because the main demand for this trade is Hong Kong. That is, what Hong Kong needs, Hutchison Trading buys it from overseas. What comes back, the upper limit is restricted by Hong Kong.
"In 1972, Hutchison Trading's transaction volume was almost HK$890 million. At that time, Qi Dezun was preparing to hit HK$1 billion, but then he encountered a real estate crisis." Richard replied.
"One billion? That's not bad." Chen Zhiwen nodded and said, "Go on."
In Chen Zhiwen's definition, it belongs to the second category. It can make money, does not have too much risk, does not require heavy investment, but has little potential. It is bound to Hong Kong. Maybe when Hong Kong's real estate explodes in a few years, it will There is a certain value.
The trading business was relatively simple, and Richard quickly talked about port berth business, ship warehouses, warehouses, foreign wine, insurance, hotels and other businesses.
After listening for a while, Chen Zhiwen felt that it was too complicated. Even after last year's major downsizing, Hutchison Whampoa still had too many businesses. In his expectation, seven or eight core businesses were actually enough, and each business should be developed well. , not to mention everyone reaching the world level, as long as they can have sufficient status in the region.
After a while, Richard finished speaking, and Zhou Jiayang took over, talking about Hutchison Whampoa's real estate business.
“Everyone, Hutchison Whampoa’s current real estate business was developing a total of 38 property projects last year, 21 of which were in cooperation with outsiders. Hutchison Whampoa does not participate in operations and is only responsible for financial supervision. The other 17 projects are owned by ourselves. Yes, pre-sale is now underway.
The total value of these projects under development is approximately HK$1.05 billion, with a debt of HK$690 million. Taking into account interest and supplier payments, after the completion of the projects this year, the expected net profit is approximately HK$130 million.
We and Huang still have a large amount of land in our hands as well as some warehouses, old buildings, etc. in good commercial locations. However, this year, we are not planning to develop these places. Instead, we will gather the strength of the entire company to develop our piece of land in Hung Hom. , which is the upcoming Huangpu Garden. "
"Huangpu Garden?" Several people in the conference room looked at each other. They all knew that the land had recently been transferred from industry to business.
Chen Zhiwen said: "Qianqian, please send the layout plan."
"Okay." Secretary Qianqian sent all the drawings.
Cai Xiangnong took the drawing and saw at a glance the densely packed floors. There were dozens of them. In front of the building, there was also a large commercial plaza called Huangpu Plaza.
"This is the top view of our Huangpu Garden. There are 93 residential buildings in total, ranging in area from 500 to 1,300 square feet. They are mainly small households. The total number of households is 16,885. In front of it is a large commercial plaza with an area of almost 1.6 million. It has a full range of food, drink and entertainment, and the structure is similar to Taikoo Shing," Chen Zhiwen said with a faint smile.
The later famous Wanda Plaza business model in the Mainland was not Lao Wang’s invention, nor was it even an invention in Hong Kong. However, its origin is unclear, but Hong Kong has had similar property projects for a long time.
The same is naturally true for the Huangpu Garden project. There are a large number of residences in the rear and a large commercial plaza in front. There are a large number of entertainment, restaurants, supermarkets and other projects inside to facilitate future residential owners. In the back, tens of thousands of stable customers will also be commercial The square is a stable source of customers, and there are dedicated hotels and office buildings above the mall, which also have the same effect.
Several are bound to each other to form the most basic stable structure of interests.
Chen Zhiwen continued: "The specific construction of this project is not the topic to be discussed today. What I want to say is that because of the agreement I reached with Hong Kong Governor MacLehose, Whampoa Garden will not be like Taikoo Shing, with several buildings. The construction will be divided into three phases, with 20 buildings in the first phase, 30 buildings in the second phase, and the remaining 53 buildings in the third phase. I need to pre-sell all the houses before the end of 1978.
The Whampoa Garden project is twice the size of Taikoo Shing. It can be said to be the largest residential project in Hong Kong's history. A large number of resources of the entire group will be tilted towards this project, but don't worry, we will not randomly transfer various businesses funds. "
In fact, judging from the future trend of land prices in Hong Kong, although housing prices will halve between 1982 and 1984, the comparison is with the highest point in 1982. In fact, the lowest housing prices in 1984 are almost the same as those in 1980. The entire The worst thing about the real estate crisis is actually those leeks who took over the business in high positions.
Compared with the current situation in 1976, house prices in 1984 have still doubled several times. Therefore, from the perspective of real estate income, it seems more cost-effective to build and hold it for a long time. If all the land at Hung Hom Port is built into high-end apartments, high-end hotels, office buildings, Shopping malls will definitely be worth more than 200 to 300 billion Hong Kong dollars in 20 years.
But outside of real estate, the benefits from many special opportunities are much greater than those from real estate in Hong Kong, such as a major financial opportunity in 1979.
This is why Chen Zhiwen decided, like Li Jiacheng, to develop all the land in Hung Hom into a community and then sell it, because with enough cash, there will be more suitable investments. Besides, on such a large land, no matter what is built, it will probably be It requires 2 billion Hong Kong dollars in capital. If you hold it yourself, you will have to kill Hutchison Whampoa, which is now heavily in debt.
Long-term holding is the investment method that should be chosen when the scale is extremely large. Even if there is no financial market, if you get the money and continue to develop it, and you have the ability like Li Jiacheng, you can make the same money as holding Central properties. Much more, unless the scale is too large and the funds are unlikely to double, then you can only invest in real estate like real estate.
"Understood." Zhou Jiayang nodded and said, he naturally knew what his boss meant.
"OK." Richard also agreed, and the others naturally expressed their opinions.
It just didn't make a few British ghosts feel relieved. Maybe it was true that we didn't allocate funds, but when we were really short of money, we sold our entire business department.
It will be much easier to manage by converting Hutchison, which you don't understand at all, into an understandable and promising business.
After the meeting, Chen Zhiwen personally invited Zhou Jiayang to a steak restaurant downstairs in Hutchison to offer him the high-end skills of a Michelin chef in France.
"Sheng Chen, Hutchison Whampoa has paid the Hong Kong government 420 million Hong Kong dollars, and the land will be leveled soon. We need to get a loan from the bank. Now the land in Hung Hom is a very good mortgage." Yang Xiao of the Zhou family said.
PS: I have been saving my manuscript recently, and there have been a few updates. The main reason is that I may be on a business trip at any time. Once I am on a business trip and cannot write for a week, the risk of interruption is too great, so I can only control the amount of updates now.
When time stabilizes in the future, the number of updates will still increase. After all, people like us make money by writing and will not struggle with money. Thank you everyone for supporting the genuine version.
Shamelessly asking for a monthly ticket!
(End of chapter)
