The birth of the Hong Kong Island family

At Clearwater Bay Golf Course, Lin Zhichao is playing golf with Yaohan Chairman Kazuo Wada.

In 1990, Wada Kazuo announced that he would move the headquarters of Yaohan International Distribution Group from Japan to Hong Kong, China; he himself also bought the hilltop mansion from HSBC Chief Executive Bovis, which will be the future "Tianbi Gao", as his It is said.

Kazuo Wada's real purpose of moving to Hong Kong was, of course, the huge mainland market and Hong Kong's own superior conditions - low taxes, convenient circulation, etc.

When he came to Hong Kong to develop, why didn't he visit Lin Zhichao, a local snake?

Therefore, the two have actually known each other since 1989. Last year (1990) Lin Zhichao also introduced Kazuo Wada to buy a 170,000-square-foot shopping mall in Shatin.

This shopping mall is managed by Henderson, but the equity is equally divided between Cheung Kong, Sun Hung Kai, Henderson and New World; and Lee Shau Kee just hopes to sell this kind of property and use the recovered money to purchase "land bank".

"Mr. Lin, the sales of Kingswood Villas in Tin Shui Wai are really amazing. I am afraid that only the Cheung Kong Group in Hong Kong can develop such a large-scale project and be so successful!" Kazuo Wada praised highly while playing golf.

Indeed, when Tin Shui Wai was developed, many people were not optimistic about it.

There are two reasons:

First, that area is far away from the urban areas of Hong Kong and Kowloon. It used to be a place for fish farming and farming. Who would want to live there?

Second, the Hong Kong government requires developers to invest in this area within ten years, how much money has been developed and completed, and other indicators.

In short, if it were not for these off-site factors, perhaps Hua Run would have taken the lead in developing it himself and would not have lost 25% of his profits.

Lin Zhichao said: "You have given me a prize! Tin Shui Wai is a new town developed by the Hong Kong government. Without the prior investment from the Hong Kong government, we would not have been able to succeed. Of course, a large housing estate like Kingswood Villas itself has 15,000 residences. It is a large community that can accommodate 70,000 to 80,000 people, so it is a city within a city and it is inevitable that it will be very popular!”

He didn't hesitate to 'brag'. In fact, Lin Zhichao understood that the reason why Kingswood Villas in Tianshuiwei sold well was because everyone made a lot of money from real estate speculation, and at least 70% of it went to the hands of real estate speculators.

Of course, he couldn't say it like this!

Even the Cheung Kong Group relies on 'agents' and 'real estate speculators', and it is also the biggest 'initiator' in Hong Kong. There is no way around it. If no one comes to support your property, it means that the real estate developer is not reputable.

Seeing what Lin Zhichao said, Wada Kazuo immediately said: "As for the shopping mall in Kingswood Villas, does Mr. Lin intend to sell it? And the shopping malls in Laguna City and Huijing Garden, does Mr. Lin have any intention to sell them?"

Lin Zhichao was stunned, Kazuo Wada had quite an appetite!

For shopping malls in these large housing estates, Lin Zhichao does not necessarily have to stay. But it is obvious that Lin Zhichao will not sell now.

However, Lin Zhichao said: "We are interested in selling the shopping mall in Kingswood Villas. As for Laguna City and Huijing Garden, we have no idea of ​​selling it for the time being, but we may consider it later."

Kazuo Wada was overjoyed and said, "Well, we at Yaohan are very interested in the shopping mall at Kingswood Villas. As for Huijing Garden and Laguna City, can Cheung Kong Group rent one to us first, and later if Cheung Kong wants to sell it , we have the right of first refusal.”

These two large housing estates are relatively close, so Yaohan will definitely open in one place.

Lin Zhichao nodded and said, "No problem, let the people in the company talk about it later!"

Kazuo Wada said: "Okay, thank you Mr. Lin for making it happen!"

According to his understanding, Cheung Kong Group is not short of money and has earned tens of billions of Hong Kong dollars in Japan. Kazuo Wada was also very happy to be able to negotiate the shopping mall sale of Kingswood Villas and rent a shopping mall in Kowloon this time.

As everyone knows, Lin Zhichao also has his own ideas. The occupancy rate of Kingswood Villas will not be high in the future. After all, most of them are real estate speculators; therefore, there is nothing wrong with selling it now.

As for the shopping malls in Laguna City and Huijing Garden, they were sold at least in 1996-1997.

After that, Wada Kazuo said: "Mr. Lin, Sapporo, Japan is the fifth largest city in Japan. I would like to invite you to invest and develop real estate in Japan. I wonder if you are interested?"

Lin Zhichao said: "This needs to be considered. After all, the Japanese real estate bubble is bursting. It is not a good thing to invest in Japan now!"

Kazuo Wada said: "Well, just wait a little longer. I believe the Japanese economy will land smoothly."

Lin Zhichao did not have the issue of hard steel, but said: "I hope so. After all, we also have a lot of commercial real estate investments in Japan."

In fact, there are three Raffles City shopping malls, but they are all relatively large; however, Cheung Kong Group already holds a smaller shareholding, about 30%, and the management rights are still in hand, and are owned by Japan's Toda Corporation. Development and management (owned by Cheung Kong).

As for the Sapporo real estate investment that Wada Kazuo mentioned, Lin Zhichao didn't take it seriously. He would attract people to invest when he had the opportunity, but he must ensure that he did not lose money.

Afterwards, the two had a pleasant conversation.

Kazuo Wada has a lot to learn from in the retail field. At its peak, Wada Kazuo owned 400 Yaohan stores around the world. Unfortunately, the Asian financial crisis almost destroyed the Japanese department store industry.

In fact, it is not just a problem of the Asian financial crisis. The traditional department store sector has been gradually replaced by supermarkets and shopping malls.

Take Hong Kong as an example. In the 1970s and 1980s, department stores accounted for a relatively high share of retail sales, but by the early 1990s, shopping malls and supermarkets already accounted for 70% of the retail sector.

Villa No. 79, Deep Water Bay.

This villa has been occupied since the 1960s and has undergone two minor renovations, once before Lin Ruihuan's marriage (1973) and once in the mid-1980s.

Lin Zhichao usually lives in the villa No. 79 in Deep Water Bay, where he often reunites with his family on weekends.

In fact, every villa where the son lives has an area reserved for Lin Zhichao and his wife, including villas in Shek O, Peak, Shouson Hill, Repulse Bay, etc.

Lin Zhichao still likes Villa No. 79 in Deep Water Bay the most, and holiday reunions are basically held here. The property rights of this villa were actually transferred to Lin Ruihuan in 1973.

There is no profound meaning in doing this, it is just a father’s attitude!

As for Lin Zhichao's wealth level, a villa is just a piece of water, so naturally he won't care.

In the evening, the long family members gathered together for dinner.

It was Tang Caiyun who saw Lin Zhichao coming home today, so she took the opportunity to invite her three sons back with their wives and children to have a fun time together. As for Lin Huizhu, the daughter married outside, she is not included in this list.

In the Lin family, the daughter who marries outside her family can share the property, but it will not be bound to the Lin family, and the husband's family will prevail. Even if you go back to your parents' home, you don't go back just because you want to. You must be specially invited to go back, unless you don't bring your husband and children with you. After all, it should be considered that Lin Zhichao and his wife live with their son and daughter-in-law.

"Grandpa, Harvard Business School has sent me an admission notice!" During the dinner, the eldest grandson Lin Hongqian said excitedly.

The whole family put down their chopsticks with happy expressions on their faces, including Lin Zhichao.

"Well, you are promising, and you are admitted based on your own skills. This is more worthy of celebration than your father's business of billions!" Lin Zhichao praised.

Lin Hongqian is the eldest grandson. He was born in January 1975. He is a member of the third generation trained by Lin Zhichao.

Among all the third generation members with the surname Lin (25, 19 boys and 6 girls), Lin Zhichao pays special attention to the eldest grandson of the third family, that is, the eldest son of Lin Ruihuan, Lin Ruihai, and Lin Ruidong. Although the remaining third-generation members can also teach, they do not have enough time after all.

By the third generation, family members in Hong Kong will also finish high school locally and then go to university abroad. Although I went to a prestigious school that taught courses in English, I was able to accept more Chinese culture in Hong Kong.

Lin Ruihuan immediately said: "College is a wonderful four years, not only to learn knowledge, but also to have certain social skills."

Lin Hongqian said: "Well, thank you grandpa and dad for your teachings."

He was born in the Lin family and is the eldest grandson. His father always taught him to be brave enough to take on responsibilities, so he is more mature than his peers. His grandfather and father would occasionally take him to participate in some activities to increase his knowledge and social skills.

The Lin family has always had a good academic style. Lin Zhichao's nine children have all graduated from prestigious universities; now the third generation attaches more importance to academic qualifications, but also to the ability to deal with people.

As for the third generation to inherit the family business!

Lin Zhichao has several grandchildren who are all born in 1975 and can enter the family business after the millennium. And after the millennium, Lin Zhichao will still be in command for at least 20 years, so why worry about the third generation not being able to take over smoothly.

The next day.

Lin Ruihuan came to Lin Zhichao's office and reported: "Father, we have completed the ownership of the 360,000 square feet of land in Songcheng and the surrounding Lychee Garden; but at the same time, there are still several owners around the Lychee Garden, and the Hong Kong Planning Department seems to have already Got the planning plan for this area!”

Since the opening of Ocean Park, Lychee Garden has gradually lost its customer base, and Cheung Kong Group has taken the opportunity to absorb surrounding land.

Lin Zhichao analyzed it and found that the scale of this reconstruction was very large, involving more problems, and the land exchange to pay the land price was more complicated. The land in Cheung Shi is not connected into one piece. There are properties belonging to multiple owners in between, and the government has an overall development plan for Lai Yuen.

"Do you think the reconstruction plan is likely?"

Lin Ruihuan said confidently: "Even if the Hong Kong government does not approve our plan at this time, as long as we spend our time slowly, both the current owners and the Hong Kong Government Planning Department will eventually agree to our request. And for us He said that he would not rush to develop this land at all, but would treat it as reserve land and prepare for a protracted war."

Yes, who can outsmart Hong Kong’s large real estate companies!

The Lychee Garden in the previous life was originally in the hands of Qiu Degen. Later, he also wanted to rebuild three large commercial and residential buildings. He also invited the "Director of the Land and Land Department" Li Shauji and Lin Baixin, but they were eventually rejected. Later, he also roped in Li Jiacheng, who directly took over. The actual plan was expanded several times, but the Hong Kong government still rejected it. However, this area is still covered with "high-rise buildings". After all, the Hong Kong government departments are only for people to leave and cool down, and large real estate developers can completely afford it.

Lin Zhichao said: "Have you ever thought about continuing to develop this area into a new amusement park?"

Lin Ruihuan replied: "After thinking about it, I don't have to develop residential buildings; but father, the land area here is not large, and it is too small compared to the Ocean Park. There is not much space for us to plan, so naturally we cannot compete." Although this area is in the New Territories, it is only adjacent to Kowloon. The prospect of developing commercial and residential real estate is huge, which is why we are tempted."

He is very frank and has his usual pragmatic style.

From a business perspective, Lin Ruihuan's approach is completely qualified.

On the contrary, Lin Zhichao has had more ideas in recent years - worry about the country and the people!

"Can we join forces with media groups to develop this area into a complex of buildings that integrates comic exhibitions, movie theaters, etc., integrating art and commerce?"

After Lin Ruihuan thought about it, he said: "Dad's idea is very good. Hong Kong comics have many fans around the world, and now Hong Kong culture is also on the rise. As long as it attracts enough tourists, commercial facilities can naturally develop smoothly. Later, I Have a good chat with the fourth child!"

Lin Zhichao nodded and said: "In the field of commercial real estate, there are various forms, so we have to keep exploring."

"yes"

This project, if the Hong Kong Planning Department is convinced, may earn Cheung Kong Group billions of Hong Kong dollars. But if it is developed into an art + commercial comprehensive building complex, the profits will continue to flow, which is equivalent to the function of rent collection; more importantly, it will reflect the essence of Hong Kong culture, promote Hong Kong's cultural industry, and drive tourism and other industries. benefit.

So, you can do it, as long as you have a long-term perspective!

December.

Deep Water Bay Golf Course.

Lin Zhichao, Guo Huonian, and Rong Zhi were playing golf. Needless to say, Lin Zhichao and Guo Huonian looked up to Rong Zhi because of his father's affection and mainland background.

The business world is a network of relationships. Why Lin Zhichao supports Chinese capital to gain a foothold in Hong Kong is because he hopes to win more good projects in the mainland next year. Why did Lin Zhichao donate to the cause of the disabled? In addition to his serious understanding of this cause, he also had the intention of purchasing political insurance.

Lin Zhichao's charity is very pure except for charity in the field of education. The rest is more of a political insurance. If charity in the field of education is said to be impure, Lin Zhichao can refute it - why should I donate so much? And why do you have to do it yourself—running around many times a year!

On the court.

Rong Zhi suddenly said in a half-joking tone: "Uncle Lin, Guo Sheng, if I fall into the hole, I will buy Hengchang."

After Lin Zhichao and Guo Huonian looked at each other, they quickly understood each other tacitly. They are such politically savvy people. Although they are reluctant to part with Hengchang shares, they can only choose to fulfill Rongzhi.

In fact, why did Rongzhi suddenly want to acquire all of Hengchang?

It turns out: In mid-September this year, after the consortium headed by CITIC Jingfeng completed the acquisition of Hengchang, Rong Zhi was very ambitious and enthusiastically led a team to Europe, the United States, and Japan for promotional tours (Note: To promote Zhongjing stocks, foreign consortiums must contribute Entrusted by Zhongjing Investment Securities). At the beginning, he thought that the acquisition of Hengchang, a long-established bank with a history of 45 years and a profit of 1 billion Hong Kong dollars, would be a show of strength in front of Guilao and Toyo Fund. Unexpectedly, the greater the hope, the greater the disappointment.

Japanese institutional investors were merciless to him and criticized CITIC Kingfeng for taking advantage of the Executive Yuan as a backstage and taking advantage of the transition from 1997 to buy right and left in Hong Kong, even though it owned Cathay Pacific, Hong Kong Airlines, Telecom, Hengchang, etc. The equity of blue chip companies (Hengchang is considered a preliminary blue chip stock, but) is not listed, but it does not have its own business, so it cannot be used as a long-term investment object.

Overseas consortiums listened to the evaluations of some overseas media and did not conduct a comprehensive and objective credibility investigation on Zhongjing, resulting in a lukewarm response.

Only then did Rong Zhi realize that as a subsidiary of CITIC, Zhongjing's image to the outside world was that of a trust investment company, not an industrial company. Although Hengchang's largest shareholder is Zhongjing, Zhongjing only has 36% of the shares, so it cannot be said that it is Zhongjing's company.

It is impossible for Zhongjing to control the British-owned Cathay Pacific, Hong Kong Telecom, and Hong Kong Airlines controlled by the Lin family. It can only take Hengchang's idea and "bury its hands" (get it) from Hengchang.

Lin Zhichao said cheerfully: "No problem, if you want it, just take it!"

Guo Huonian said: "Hengchang has sold Hengchang Building to He Shanheng for a price of HK$907 million. Together with cash flow and stocks, it probably has more than HK$3 billion. Hengchang's assets are about HK$5 billion. So, just buy our stocks at a premium of 15%. In this way, Lin Sheng and I have no objections, and others will not be embarrassed if they see that the situation is over!"

Rong Zhi said quickly: "Thank you Uncle Lin and Guo Sheng for helping me!"

What he fears most is Lin Zhichao, because Lin Zhichao's status in Hong Kong is too high and his status in the world is also very high. Therefore, it is completely impossible to use the mainland government to oppress Lin Zhichao, and the higher ups will not allow it. Secondly, Lin Zhichao is the son-in-law of the Jiangnan Tang family. According to his father's wishes, he is respectfully called "Uncle Lin". It has only been in Hong Kong in recent years that he has established a foothold in Hong Kong. Even CITIC Jingfeng was listed on the backdoor with Lin Zhichao's help.

Next, Rong Zhi said: "Uncle Lin, Zheng Sheng and the others, could you please intercede?"

Lin Zhichao thought for a while, and Rong Zhi went to talk. Maybe the relationship would be too tense, and it would be more appropriate for him to step in, so he agreed: "I will tell it for you. I don't dare to say whether it will succeed or not!"

Rong Zhi said: "With Uncle Lin taking action, I believe Zheng Sheng and the others will agree!"

After taking over the equity interests of Lin Zhichao and Guo Huonian, CITIC Jingfeng already had more than 60% of the equity, so Zheng Yutong could only give it; what's more, Zheng Yutong is also investing in the mainland now, and plans to make large investments in both the mainland and Hong Kong in the future. How can you not be a human being?

Lin Zhichao came out and just said not to cause any unpleasantness or anything. After all, Lin Zhichao and Zheng Yutong have been friends for many years, so there will be no problem for him to come forward.

As for He Shanheng’s side!

He originally promised not to 'remove the bones', but now Rong Zhi's mind has changed. He has acquired so many assets and only raised HK$1.1 billion in the stock market, so he is short of funds.

Therefore, Rongzhi immediately sold Hengchang Building, but because the buyer was the He Shanheng family, and the price was HK$100-150 million lower than the market price (assessed price); therefore, He Shanheng tasted the sweetness at this time, and naturally he would not jump. Come out and accuse Rongzhi.

After all, He Shanheng is a big boss in the banking industry in Hong Kong. Rong Zhi's move is considered a smart move. Otherwise, if he offends He Shanheng, he will be in trouble in the future. (End of chapter)