Rebirth Strongest Tycoon

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Chapter 979 Swire Family is powerful but overly cautious

In order to effectively implement its own strategy to contain Hong Kong’s housing prices, Xia Yu tilted her working hours to the real estate sector.

He went to Jiuding Real Estate Group many times, made field trips and made important instructions based on his own experience and memory, allowing Liu Shihao to quickly figure out the direction and context of his actions.

Another week later…

Liu Tianci and Gals Liddell worked together to sort out the information and present it to Xia Yu.

In front of this information, Swire Group and Swire Family are like being stripped naked, and there is almost no secret in front of Xia Yu.

It must be said that Swire Group is worthy of being the Old Second in the original Four Major British Consortiums. Now that the Hong Kong stock market has risen, its strength is increasing day by day. Except for Xia Yu, no other Chinese-owned big shot is its opponent.

Even the Wheelock and Company consortium is now being pulled further and further by the Swire Group.

The development of Swire Group is so good that it is inseparable from the shrewdness and caution of Swire Family.

But precisely because of Swire Family’s caution, the debt ratio of Swire Group and Swire Family itself is not low.

In the information in Xia Yu’s hands, for the convenience of reading, the unit of HKD is used uniformly, and the assets are converted according to the exchange rate.

And because only some companies in the Swire group are listed, in the statistics, listed companies calculate the amount of assets based on market value, and unlisted companies estimate the amount of assets based on actual assets. The two are counted one after another.

Although this calculation is certainly not that rigorous, but this is the simplest and most effective method, and it has no effect on Xia Yu’s actions.

After all, the value of shares of listed companies is relatively false. If used for bank pledge loans, it is generally around 3 to 5% off. Shares worth 10 million HKD can only lend around 3,000,000 million to 5 million.

The HSI cost stocks are okay. The shares pledge rate can reach 5%, but if it is not the HSI cost stocks, then the bank will only give a discount of 3 to 3%, and generally only a 5% discount!

If it is a non-listed company, it is more risky in the eyes of banks and securities companies. Few banks and securities companies do equity shares pledge business for non-listed companies. Even if they do, the pledge rate given is very low, even It will be as low as 2% off!

If the value of a company after listing is increased by 4 times, and the pledge will be discounted by 5%, it will be about the same as the amount of assets before listing.

If you take into account the risks of the company when it is not listed, it makes sense that the pledge rate of equity shares and asset loans is low…

Closer to home.

Let’s start with the United Kingdom Swire Group. The total assets of the group are around 2 100 4 1.2 billion 60 million HKD, the net assets are 88 100000000 million 10 million HKD, the debt is 100 5 1.4 billion 50 million HKD, and the debt ratio has reached 60% 3%!

The Hong Kong Swire Group is the most important branch of the United Kingdom Swire Group, occupying more than 6-Layer in the strength of the United Kingdom Swire Group.

Hong Kong Swire Group’s total assets are around 150 7 100000000 million 70 million HKD, debts are 9 1.2 billion 40 million HKD, net assets are 6 1.5 billion 30 million HKD, and the group’s debt ratio is 50% 8:6, which is more than the parent company United Kingdom Swire Group. low.

Finally, it is Swire Family itself.

The assets of Swire Family are mainly under internal family trusts and family funds. Most of the assets are held by the shares of Swire Group companies, including listed companies and unlisted companies.

Because these companies have already calculated debts when counting the assets of the Hong Kong Swire Group, in principle, they cannot be counted as the main body of Swire Family.

Swire Family total assets is around 8 1.3 billion 20 million HKD and can be divided into 4 parts.

The first part is the shares and equity shares of listed or unlisted companies, valued at about 60 600 million 50 million HKD.

The second part is Swire Family’s fixed assets, such as buildings, houses, villas, cars, yachts, etc. The total value of these things is about 400000000 million 60 million HKD, which is a real value without a trace of moisture.

It’s just that this part of the assets is more difficult to cash out, but the mortgage loan is still relatively high.

The third part is that the liquidity of Swire Family in various banks is about 3 million 200000000 million HKD. This is the funds used by Swire Family for risk control and will not be used easily, even if these funds are idle!

These circulating funds belong to the family and are two different things from the circulating funds of various companies.

The last part is the debt under the name of Swire Family, which is about 1 billion 9 10 million HKD!

The assets purchased by the loan money are also Swire Family assets, but it is just subtracted when calculating the net assets.

But now Xia Yu does not want the amount of Swire Family’s net assets, so these responsibilities of Swire Family must be calculated.

After all, there are explanations in the information.

The reason why Swire Family has such a high debt is due to the increase in shares rights in loans in the past two years.

It can also be seen from this that Swire Family is cautious and careful, and it is people like Xia Yu or Xia Yu that are guarded against.

However, Swire Family probably didn’t expect, no matter how they guarded it, Xia Yu would still follow them if she wanted to follow them!

“Swire Family’s debt is 1 billion and 9 10 million HKD, which is pledged and loaned by shares of listed and unlisted companies worth 3 1.1 billion HKD.”

“So in fact, the first part of Swire’s assets is worth 60 600 million 50 million HKD, of which 3 1.1 billion can’t be moved.”

“There are remaining equity shares of 3 1.5 billion 50 million HKD. Even if all the loans are taken, they can only borrow about 1.2 billion HKD, but unless Norman Swire is mentally disabled, he will not go on this Death Road. “

“According to this calculation, Swire Family seems to have huge assets. In fact, after lending 1 billion and 9 10 million HKD to increase shares, the space for activities has been severely reduced.”

“Swire Family sacrificed attack power in exchange for its own defensive power, but this defensive power can prevent others, but it’s hard to tell me… hehe…”

Xia Yu thought of this, and the corners of her mouth unconsciously conjured up an arc.

Swire Family’s prudence has advantages and disadvantages. The advantage is that it strengthens the control of Swire Group and its various companies, but the disadvantages are also obvious. The funds are trapped and the space for activities becomes smaller.

The difference between shares and cash is undoubtedly revealed at this point.

To give a simple example, if the Swire Family’s assets are 3 billion HKD in cash, but all of them are used to buy shares worth 3 billion HKD, and these shares are not money. If you take the bank pledge loan, you can only re-lending Cash back from 1 billion to 1.5 billion HKD.

Although the total assets of Swire Family have increased from 1 billion to 1.5 billion HKD, the shares worth 3 billion HKD have been frozen. Only the re-loaned cash of 1 billion to 1.5 billion HKD can be operated. This deterrence and The actual lethality is naturally not the same as the 3 billion HKD cash mention on equal terms!

“Now that I understand it, it’s time to act…”

After thinking about it, Xia Yu opened the safe behind her, took out a notebook, and browsed through the plans and ideas she had written down.

It was evening in a blink of an eye.

After dinner, Xia Yu bought some fruits and drove to Yue-Kong Pao’s house.

After the meeting, there was a friendly and warm greeting, and then Xia Yu and Yue-Kong Pao drank tea in the living room and chatted freely.

After 3 tea tours, Xia Yu talked about the purpose of visiting tonight.

“Old Pao, come to you tonight, mainly because I have an immature idea. See if you can help. I plan to do something with Cathay Pacific!”

Yue-Kong Pao just wanted to pat his chest and said it was okay, but suddenly heard Xia Yu’s last words, his expression instantly became solemn, and he looked at Xia Yu with scorching eyes and asked with concern: “A’Yu, I remember Cathay Pacific Not listed? Even its parent company Swire Aviation is not listed. How do you do it?”

“Wait…Are you planning to do something with Swire shares?”

“This is the biggest foundation of the Swire Group. If you touch it, Norman Swire will definitely have to fight you hard!”

“How confident are you?”

PS: The data setting is too cumbersome. If it is strong, it is unrealistic and it is not easy to write. If it is weak, it is boring to write plot. The current degree is adjusted 7 times.

This month’s update is not great. It’s the end of the month and will be updated as soon as possible, above!