บท 105: Chapter 105: Lihe Securities
In the following days, the company's affairs were progressing smoothly and systematically.
The establishment of the *Economic* magazine, the publication of the novel *The Legend of the Condor Heroes*, the expansion and channel development of the distribution department, and other matters were all advancing rapidly.
One day, while Xia Yu was busy in his office writing *The Legend of the Condor Heroes*, the phone on his desk suddenly rang.
"Hello, Mr. Liu, good afternoon!... Alright, I'll be right over."
After hanging up the phone, a faint smile appeared on Xia Yu's face.
Mr. Liu Tianci had just called to inform him that the 30% shares of Da Fa Real Estate he held had been completely sold.
Since Xia Yu had some time now, he planned to handle this matter and also check how much liquid capital he currently had.
After calling Yan Shining, Xia Yu quickly arrived at the Kowloon Securities Exchange. After getting out of the car, he pushed through the crowded area and headed straight for the HSBC Securities location.
"Mr. Liu, I'm here," Xia Yu greeted Liu Tianci with a smile.
"Mr. Xia , please follow me!"
Liu Tianci did not waste time and immediately took Xia Yu to a place and began explaining.
"Recently, Da Fa Real Estate's stock price has been fluctuating around sixty-six million. It could have risen further, but because some stocks were sold and entered the market, the stock price became more susceptible to fluctuations, so the upward momentum has temporarily halted."
"I've already sold your 30% shares. After deducting the handling fees, your account still has nineteen million. Subtracting the one million principal you used, you have seven million left, making a total of twenty-six million in your account!"
"Mr. Xia , you've made a fortune! Congratulations!" Liu Tianci said with a smile, his tone somewhat emotional.
"Congratulations to you as well! Haha!" Xia Yu replied with a smile.
"Haha! We all made a fortune together!" Liu Tianci laughed heartily.
Indeed, as Xia Yu mentioned, the Kowloon branch of HSBC Securities had also made a significant profit.
They had acquired 25% of the shares when the price was at its lowest. If they sold now, it would be worth at least sixteen million, whereas their acquisition cost was just over four million. This results in a profit of nearly twelve million!
A fourfold profit in such a short period was a remarkable achievement.
This result would definitely cause a huge sensation, and Liu Tianci's office phone would probably be bombarded with calls from clients.
If this doesn't demonstrate capability, what else can?
When reporting to his superiors, this achievement would certainly add to Liu Tianci's credentials, no wonder he was so happy!
Moreover, having earned so much money, as the branch manager, Liu Tianci would also enjoy a commission!
"Mr. Liu, please help me withdraw this money first," Xia Yu said after thinking for a moment.
"Of course, I'll have someone apply for the withdrawal right away," Liu Tianci replied immediately.
"By the way, Mr. Liu, now that we have sufficient funds, I plan to establish a securities company. However, applying for a securities license is too troublesome. I want to directly purchase an existing company. I don't need anything else, just the securities license. The more comprehensive the license, the better. You are more familiar with the Hong Kong securities industry. Do you know of any recommendations?" Xia Yu asked Liu Tianci.
As Xia Yu mentioned, his funds had reached twenty-six million, which was more than enough to start a securities company.
In Hong Kong nowadays, there are many securities firms of various sizes. Many small firms might only have assets of ten to twenty million.
For example, Wu Chengtai's Tianwu Securities managed fifty million Hong Kong dollars in assets and was a standout among small firms.
With twenty-six million in capital, Xia Yu could completely buy out a healthy, well-developed securities company. However, he did not plan to do so because buying a good company outright was not cost-effective; it would be too expensive.
His abilities could ensure that he could manage a securities company on his own. For now, he only needed ordinary employees to assist him and faithfully execute his orders.
He could hire excellent employees after the company gained some reputation and attract capital later on.
His current funds were sufficient for the company's normal operations, and he could also apply for ten times leverage from HSBC, so funding was not an urgent concern.
In this case, obtaining the securities operating license was more important. It was more practical to get the license cheaply rather than paying a high price for a well-established company.
"I'll need to think this through carefully. It seems I have seen a company that meets your requirements," Liu Tianci said after hearing Xia Yu's request. He frowned slightly and fell into deep thought.
Seeing that Liu Tianci was taking some time to think, Xia Yu did not disturb him and sat down, leisurely sipping his tea.
"Mr. Xia , please wait a moment. I need to retrieve a document. My memory is a bit fuzzy, and I'm not entirely sure. I need to see the specific document."
After some contemplation, Liu Tianci had to go through the documents to find the relevant information.
Soon, he came out with a document and a smile on his face.
"Mr. Xia , there is indeed a company that is very suitable for you. Here it is—Lihe Securities!"
Liu Tianci handed the document to Xia Yu for him to review, as it was too lengthy to read aloud.
Xia Yu quickly took it and examined it carefully.
Lihe Securities was founded by Sun Xiuyuan in 1970. At its peak, it managed thirty million Hong Kong dollars in funds. However, during the stock market crash in 1976, it suffered severe losses. Following multiple investment failures, investors withdrew, and the funds under management dwindled to less than five million. The company has been struggling on the brink of bankruptcy.
Despite its size, Lihe Securities holds a complete range of securities licenses.
It has licenses for securities underwriting and sponsorship, securities brokerage, securities self-operation, securities investment consulting, securities trading, financial advisory related to securities investment activities, securities asset management, and margin financing—making its qualifications quite impressive!
It seems that Sun Xiuyuan, ambitious to create a career, prepared everything thoroughly. Unfortunately, despite the preparations, the company did not develop as hoped.
"Fortune favors me!" Xia Yu thought to himself after reviewing the information.
This securities company was perfect for Xia Yu to acquire, and the cost would definitely be low, considering it managed less than five million. The valuable assets were the licenses.
This company was only in such a dire situation because it needed someone like Xia Yu. Otherwise, its only option would be to go bankrupt!
"I didn't expect Lihe Securities to be in such a bad state. The management must be terrible," Xia Yu said with some emotion.
"Mr. Xia , you're mistaken. Lihe Securities still has talent; it's just that the gem is hidden in the dust!" Liu Tianci corrected him.
"Oh? How so?" Xia Yu asked with curiosity, wanting to hear how it was a hidden gem.
"Actually, the downfall of Lihe Securities is somewhat related to the founder Sun Xiuyuan, but the main reason is his son, Sun Feixing."
"Sun Feixing is Sun Xiuyuan's only son, and he was born late in his life. His mother died during childbirth, and Sun Xiuyuan cherished him dearly. He indulged Sun Feixing too much, leading to his high aspirations but limited abilities."
"Sun Xiuyuan, now too old and lacking energy, planned to have his son Sun Feixing take over. He arranged for him to gain experience in the company and appointed his trusted aide, Wang Qi, to assist Sun Feixing."
"At first, Sun Feixing listened to Wang Qi, and several investments succeeded. Later, he sought more autonomy. Sun Xiuyuan acquiesced, and Sun Feixing began to expand aggressively. Unfortunately, the stock market crash in 1976 was unexpected. Lihe Securities, which had used high leverage, suffered greatly. Several projects went bankrupt, resulting in significant losses!"
"Sun Xiuyuan, disheartened, fell ill and died last year. Before he died, he entrusted Sun Feixing to Wang Qi, the investment department manager."
"Wang Qi is actually very capable, but he values loyalty. He was recruited by Sun Xiuyuan right after graduating from university and trained by him meticulously. He's like a protégé to Sun Xiuyuan. Despite Lihe Securities' decline, he stayed on. His ability is still quite good. I once tried to recruit him, but he said he had promised Sun Xiuyuan to stay as long as Sun Feixing was at Lihe Securities."
"If it weren't for Wang Qi, Lihe Securities would have long since closed. Its survival until now is due to his efforts."
Liu Tianci spoke in one breath, his tone somewhat emotional. He recognized Wang Qi's talent and felt that he was indeed an elite. Unfortunately, he couldn't recruit him.
"I see," Xia Yu said with understanding.
"By the way, Mr. Liu, how did you know about this small company like Lihe Securities and still have it in your files? Doesn't it seem beneath your status?" Xia Yu teased.
Hearing Xia Yu's joke, Liu Tianci smiled wryly and revealed the truth: "Actually, Sun Xiuyuan was once an old employee of our HSBC Securities and my senior. After leaving to start his own business, he founded Lihe Securities. Although he left, his connections remained. To leverage HSBC Securities' resources, we invested in his company. We still hold a 20%
stake in Lihe Securities, but unfortunately, it's now a burden no one wants. If you hadn't asked, I would have almost forgotten about it. We had pretty much given up on it."
Hearing Liu Tianci's insider information, Xia Yu was somewhat surprised and found it a bit amusing. It turned out that Lihe Securities had this connection with HSBC Securities.
It seems HSBC Securities was also a victim, though the loss was probably not significant.
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