Started from Hong Kong Island

Chapter 405 403 [Xie Liyuan Gold Shop]

The fund-raising and share offering plan of Jianing Group was rejected by the exchange, naturally because of the adverse impact of the escape of Zhong Zhengwen of Yida Group.

The exchange's reaction made many investors realize that there were big problems with the Jianing Group. Coupled with the bad overall environment at the time, most investors began to sell Jianing Group's shares. Only a few die-hard fans believed that the backers behind Chen Songqing would save the Jianing Group.

At the same time, Dali Credit Finance Company suddenly announced that its subsidiary finance company was unable to repay the loan and was forced to liquidate.

This was the beginning of the Hong Kong banking crisis in the 80s.

Hang Lung Group and Cheung Kong Group have completed the construction of Cotton Tree Building at 8 Cotton Tree Road. Cheung Kong Group bought Hang Lung Group's 50% interest in Cotton Tree Building at the market price in the first half of the year, spending HK$4.6 million.

In mid-October, Hang Lung Group planned to launch a property development rights project above the Admiralty Section 10 MTR station to build the 6.9 square feet Xiangshan Building. However, it was unable to pay the final payment of HK$18.2 billion.

Due to the plummeting property prices, Hang Lung Group proposed to the Hong Kong government to reduce the payment of HK$18.2 billion to HK$14 billion, but the Hong Kong government refused. At the same time, the Japanese bank that was previously willing to lend HK$15 billion to Hang Lung Group temporarily withdrew its promise, making Hang Lung Group very passive.

Chen Zengxi also came to Li Wendi, wanting to sell the rights and interests of the Admiralty Section 2 project in exchange for some funds to tide over the difficulties. Li Wendi refused and persuaded Chen Zengxi to give up the project.

Chen Zengxi was naturally unwilling to do so, because Hang Lung Group had already paid a deposit of 4 million yuan to the Hong Kong government. If he gave up, he would lose the 4 million yuan in vain.

Considering the interests of Changxin Group, Li Wendi certainly would not join the game. If he wanted to join, he would have done so when he was bidding. Why wait until now?

Moreover, the situation that Hang Lung Group is in trouble is inevitable. Unless someone is willing to come up with 30 billion yuan in cash flow, such a person will become a fool in the Hong Kong business community.

In terms of British capital, the company that suffered the most damage was Hong Kong Land Development. Someone has calculated the debt of Hong Kong Land Development, which is over 150 billion yuan, making it the largest indebted company in Hong Kong, commonly known as the debt king.

Li Wendi bribed many newspapers to continue digging up the debt scandal of the Hong Kong Land Development, so the latest reports on the Hong Kong Land Development could often be seen in Hong Kong newspapers.

Moreover, affected by the Carrian Group, the development plan of the old wing of Miramar Hotel in the urban area of ​​Kowloon is facing great challenges. Neither the Hong Kong Land Development nor the Carrian Group has the follow-up funds to carry out the development. The land was worth 28 billion yuan at the peak of the real estate market. 9.24 million yuan has been paid, and the remaining 18.76 billion yuan cannot be paid. The project is doomed to fail.

The Hong Kong Land Development also suffered a loss of HK$4 million. In addition, in the first half of the year, the Hong Kong Land Development vigorously acquired old commercial buildings in Central and demolished and rebuilt them, which consumed tens of billions of yuan of funds. However, it still holds 13 small commercial buildings.

Li Wendi is very concerned about the developments of Hutchison Whampoa. Although the share price has fallen, the decline is not large. After all, it has Jardine Matheson as its backer. Therefore, Li Wendi plans to gradually erode the confidence of shareholders in Hutchison Whampoa. When the share price is low enough, Li Wendi will sweep away the scattered shares of Hutchison Whampoa on the stock market with lightning speed, take the opportunity to become a member of the board of directors of Hutchison Whampoa, and expand Jardine Matheson's sense of crisis.

Deep Water Bay Wong Lai Yan Villa
Li Wan is already in elementary school. It’s very chaotic outside now, so Li Wendi hired a tutor for her. Now she doesn’t need to go to the school classroom to attend classes.

Seeing Li Wendi appear, Li Wan ran over happily, hugged Li Wendi's thighs, looked up and smiled, "Daddy, how come you have time to come here today?"

Li Wendi touched the little guy's forehead and smiled, "Because Daddy wants to come and see if Xiaowan has run out to play again. Is she being obedient?"

"Yes, I'm very well behaved." Li Wan smiled sweetly. "It's so chaotic outside, I haven't gone out once."

"Then Daddy will take you to Central to play tonight as a reward." "Great! There's something to play." Li Wan jumped up happily, but was quickly brought back to her senses by Li Wendi's words, "The prerequisite for playing is to finish your homework."

After sending Li Wan away, Li Wendi turned his attention to Huang Lixin. The woman was looking at documents intently and didn't want to pay any attention to Li Wendi's arrival.

"What are you looking at so intently?" Li Wendi walked over and glanced at the contents of the document.

"Xie Liyuan Gold Shop Company! This company is about to go bankrupt and is heavily in debt." Huang Lixin said seriously.

Xie Liyuan Gold Shop was established over a hundred years ago and is one of the few century-old companies in Hong Kong. It is also a long-standing institution in the gold, silver and jewellery industry with a far-reaching influence.

Due to the current plunge in the local market and stock market, Chinese people have the habit of buying gold to preserve value in times of crisis, so the current gold price has increased. Xie Liyuan Gold Shop is seriously in debt and was hit by selling fake gold. Now it has been asked to pay back the debt by banks, the largest bond bank of which is Hang Lung Bank.

Although Huang Lixin's Xinwan Jewelry Company is not strong, Huang Lixin also wants to expand its scale. Today's Xie Liyuan Gold Shop is her target, but the debt of several hundred million yuan is really beyond the ability of Xinwan Jewelry Company to afford.

Li Wendi certainly has a way to acquire Xie Liyuan Gold Shop, but not for Xinwan Jewelry Company, but for Junfu Jewelry Company.

Li Wendi thought for a moment and said with a smile, "Xinwan Jewelry Company cannot afford to bear a debt of several hundred million yuan. Moreover, Hang Lung Bank has lent out a large amount of deposits and cannot collect them back. Now that Xie Liyuan Gold Shop's debt has been exposed, Hang Lung Bank will be in big trouble."

Huang Lixin thought for a moment and said, "I just want to acquire it. Xinwan Jewelry is too small. I want to expand its scale. The current Xie Liyuan Gold Shop is an opportunity for the company."

Li Wendi smiled and said, "How about Junfu Jewelry coming forward and Xinwan Jewelry taking 3% of the shares of Xie Liyuan Gold Shop?"

Huang Lixin glanced at Li Wendi and subconsciously felt that the man in front of her was cheating. She should be able to get more. "No, I want half of the shares."

Li Wendi laughed and said, "Does Xinwan Jewelry have 2 million yuan in cash?"

Huang Lixin shook her head in frustration and said, "No, I only have 6200 million."

"You don't have enough cash, how can you own 50% of the shares?" Li Wendi would certainly not give in on this. In his opinion, 30% was already too much, and it was entirely given because of the face they had for him over the years.

"I don't care. I want 50% of the shares anyway." Huang Lixin said coquettishly, "Junfu Jewelry is yours. Whether you give me 50% of the shares is entirely up to you."

"That's true on the surface, but wouldn't Qijun know that such a large amount of funds from Junfu Jewelry was used? I'm worried that you may not even get the 30%." Li Wendi said in a threatening tone.

Huang Lixin thought about it and felt that what Li Wendi said made sense, but she still wanted to fight for it, "I discovered this project, and I can complete the acquisition myself."

After being "tricked" by Li Wendi, Huang Lixin finally gave in. Li Wendi promised that he would help her acquire a suitable jewelry company in the future.

(End of this chapter)