章節 697: Chapter 697: Hutchison Whampoa's Progress
The stock market had closed.
However, Jiuding Securities was still busy.
After Xia Yu returned to the company, Wang Qi immediately came over to greet him and took the document bag from him.
'This is the 28.7% stake in Hong Kong and Yaumati Ferry Company held by Wing Tai Construction. You can keep it for now!'
'Okay!'
The two men chatted as they walked.
'How are things going on your end? Any results?'
Xia Yu asked.
Wang Qi immediately said, 'Chairman, three of the five acquisition teams have already achieved results, and together they have acquired a total of 12.4% of the shares in Hong Kong and Yaumati Ferry Company.'
'That's fast! Well done!'
Xia Yu praised with a smile.
'The main reason is that these minority shareholders understand the situation. They were very willing to sell their shares to us, and they promised to keep quiet at our request. I don't think they dare to cause us any trouble!'
'The next two groups should be quick as well!'
Wang Qi explained with a smile.
As they talked, they had already entered the office. Xia Yu gestured for Wang Qi to sit down: 'Sit down and talk!'
'Thank you, Chairman!'
The staff waiting outside immediately came in to make tea.
Xia Yu thought for a moment and continued, 'You went to see Shen Bi this afternoon. What did he say?'
Jiuding Securities was full of talented people, and the acquisition of Hutchison Whampoa and the lesson learned from the Zhao family did not conflict with each other.
According to the plan, five groups of members went to acquire the equity held by the five listed shareholders of the Hong Kong and Yaumatei Ferry Company. Xia Yu went to find Li Zhaoji to take the lion's share, while Wang Qi went to HSBC to talk to Shen Bi about Hutchison Whampoa.
Wang Qi said apologetically, 'Chairman, I'm sorry, I talked to Shen Bi for nearly an hour, and he still didn't agree. He just said he had to think about it, but after I pressed him, he said he would give me a clear answer tomorrow.'
After saying this, Wang Qi paused for a few seconds and simply described the details of the negotiations with Shen Bi at HSBC in the afternoon.
Xia Yu listened quietly, sipping tea from time to time.
Shen Bi's failure to give an immediate answer was also within Xia Yu's expectations.
Although HSBC is the number one British-owned company, its relationship with other British-owned conglomerates in Xiangjiang is very complicated, with both cooperation and competition. But in the final analysis, Shen Bi only focuses on profits.
If it can create profits for HSBC, he would sell Hutchison Whampoa even if it meant selling his own father.
In his previous life, this was exactly what Shen Bi did, selling the shares of many British companies to Chinese tycoons.
Now Hutchison Whampoa is in deep trouble, and even though Wei Li is in control, he can only slow down the decline. But it is still far from certain that Hutchison Whampoa will be able to climb out of the quagmire.
In the final analysis, Hutchison Whampoa's success is due to, and its failure is also due to, Sir Canning.
Without Sir Canning's series of crazy moves to grab food and merge, Hutchison International Enterprise would not have leapt from a company with assets of more than 100 million Hong Kong dollars and more than 30 subsidiaries to one of the four major British-funded consortia in Hong Kong controlling more than 200 companies.
But it was also because of his crazy mergers and acquisitions that he did not reasonably digest the companies he acquired, resulting in overall losses for Hutchison Whampoa.
Undeniably, among the more than 200 companies in Hutchison Whampoa, many are developing well, such as the real estate sector, which is developing well. However, there are more loss-making companies, and the profits are not enough to cover the losses.
Even HSBC could not stand it anymore. After a clash with Keith, they replaced him with a more capable manager, Wei Li, but even he was overwhelmed by the more than 200 companies and could only barely maintain the status quo.
Of course, if someone else had taken over, they might not have been able to do as well as Wei Li, and might even have driven Hutchison Whampoa into bankruptcy.
Many people in Hong Kong were watching the situation at Hutchison Whampoa closely, and Xia Yu was well aware of it.
In his opinion, there were only two ways for Hutchison Whampoa to get out of the mess.
One is to find someone who is even more formidable than Wei Li, a figure of the calibre of the God of Business, and give him enough power to reform and lead Hutchison Whampoa out of the quagmire.
The second is to carry out internal integration and spin-offs, merging companies in the same industry chain or of the same nature, and spinning off the non-performing assets that are holding things back.
But the former is difficult to achieve, as top-level elites are few and far between. How many British executives can Hong Kong find who can outperform Wei Li?
As for Chinese people?
is absolutely not able to rise to this position!
Replacing someone with more ability than Wei Li, who is also unfamiliar with Hutchison Whampoa, will waste a long time.
The latter's proposal to spin off non-performing assets is also difficult to implement, and if this is done, it will clearly show that the previous hard work of Keith T. J. Whamond to swallow up assets was wrong, and the total assets of Hutchison Whampoa will also continue to decline as the spun-off companies are sold.
Not to mention the time and effort involved, by that time Hutchison Whampoa's position will not be maintained, which will bring a series of adverse chain reactions.
Therefore, Hutchison Whampoa is now in a dilemma and in a very awkward position.
In a previous life, why did Shen Bi sell about two-thirds of his holdings to Li Jiacheng at a low price? It was because he recognised Li Jiacheng's management ability and believed that Hutchison Whampoa would be managed better in Li Jiacheng's hands.
In this way, HSBC was able to sell its shares to recover some of its losses in advance, and it could also expect Li Jiacheng to bring Hutchison Whampoa up and increase the value of the remaining shares.
After Li Ka-shing acquired Hutchison Whampoa, he also kept spinning off and restructuring, strengthening cooperation with major Chinese companies, and finally getting out of the quagmire step by step.
Xia Yu believes that he can do a better job than Li Ka-shing, and his Jiuding consortium is also capable of turning the non-performing assets of Hutchison Whampoa into treasure.
'Since Shen Biao said that, let's go see him again tomorrow.'
'Did you ask him to keep it confidential?'
Xia Yu finished speaking and suddenly asked again. He didn't want to run into any problems.
Wang Qi nodded: 'I mentioned this request to him, and he explicitly promised not to notify Qi Dezun. As for whether he can keep his word, that's...'
Xia Yu smiled faintly and said: 'Since he said he wouldn't notify, he should be able to keep his word. If he isn't stupid, he should be able to guess that we've been preparing for a long time. There's no need for him to offend us for the sake of an unhelpful Qi Dezun.'
'Yes!' Wang Qi nodded in agreement with Xia Yu's opinion.
Xia Yu then chatted with Wang Qi about work for a while, and when he saw that it was already 5 o'clock, he planned to leave.
He first went to his master Li Chunqiu's place to follow up on the construction of the Chunqiu Hospital and Xiangjiang Traditional Chinese Medicine College. The progress was quite rapid, and the old master was very satisfied.
After that, he dropped by Taiji Pharmaceutical and Yangshengtang.
With Xia Yu's strong financial support, his senior colleague Wang Haoyun had already purchased all the necessary research equipment. Although the official laboratory had not yet been completed, he had already recruited a group of scientific research personnel in the field of medicine to study the formula.
As for Yangshengtang, it goes without saying that under the banner of the Jiuding Group, many medicinal herb merchants are happy to sell ordinary herbs and precious herbs to Yangshengtang. The supply of goods has been temporarily guaranteed, which is enough for the initial store operations.
However, both Zhang Gufeng, the general manager of Taiji Pharmaceutical, and Wang Bowen, the general manager of Yangshengtang, have proposed suggestions to speed up the completion of the Chinese herbal medicine planting base.
And when Xia Yu was about to leave, Li Chunqiu suddenly made a request to Xia Yu: Could he take him with him the next time he went to the mainland? He wanted to go back to Wudang Mountain to take a look.
Seeing the sad and nostalgic expression on his master's face, Xia Yu pondered for a moment and promised him on the spot that he would go in early December and let his master get ready.
Li Chunqiu immediately beamed with joy.
That's good, it's been more than a year since the last time he went to the mainland, and it's about time he went to see how the construction of the business there is going.
Furthermore, last time Xia Yu asked the Xinhua News Agency to pass on the message that a site needed to be selected on the mainland for the construction of a Chinese herbal medicine plantation, and the mainland gave a clear response agreeing, and has already sent someone to select some for Xia Yu to choose from.
After so long, I believe there have been quite a few results.
It so happens that Zhang Gufeng and Wang Bowen mentioned this matter, so let's go deal with it together!
After finishing these things, it was already 6:30 pm, and I presume Li Qian and Elena were already waiting at home.
Xia Yu did not linger, and went straight home by car.
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