In Hong Kong, we build a global business empire

Chapter 123: The Master is Out, Taking Full Power
As Lin Haoran announced the privatization of Qingzhou Yingni Company, this news became popular for a few days and then gradually faded away.

By January, not many people were paying attention to the Qingzhou Yingni incident.

When the media reporters saw this, they naturally reduced the number of articles about Qingzhou Yingni Company until there were none at all.

This is also very normal. Not to mention a medium-sized enterprise like Qingzhou Yingni, even the ongoing battle for Hutchison Whampoa will not attract attention every day, unless at some critical moments, it will become a hot topic of discussion.

After the privatization work was handed over to the Waldorf Company, the progress was indeed extremely smooth.

In just one week, thousands of investors went to the Waldo Company to sell their stocks.

The stocks in the hands of these people control more than 8 million shares of Qingzhou Yingni.

However, as time went on, the number of shares acquired by Dolly was decreasing.

There is no way around this. After all, not everyone is willing to sell at HK$4 per share.

At the same time, privatization itself is a long-term process and it is difficult to complete it in a short period of time.

Moreover, a 100% acquisition is not required for a successful privatization.

Indeed, requiring 100% share acceptance to complete privatization is almost impossible in reality, because there will always be some shareholders who are unwilling to sell their shares for various reasons, or there will be special circumstances such as the loss of stock certificates.

However, this does not mean that privatization cannot be achieved.

Under the Hong Kong Takeover Code, the offeror (usually a major shareholder or management of a company that wishes to privatize) needs to obtain valid acceptances from a sufficient number of disinterested shares, a ratio usually set at more than 90%.

Once this ratio is reached, the bidder can exercise its right to forcibly acquire securities (i.e., the "squeeze-out right") and forcibly purchase the shares of the remaining small shareholders who have not accepted the offer, thereby achieving privatization.

For those shareholders who do not wish to sell their shares under any circumstances, they can choose to sell at any time in the future, but at that time they will only be able to follow the post-privatization procedures.

As for Lin Haoran's current situation, he has already acquired enough shares to almost exercise the right to forcibly acquire securities.

But he was not in a hurry to take this step for two reasons: first, part of his shares were still held by Wan An Group, and he planned to redeem them in the future without rushing to use the loan. After all, Wan An Group was also his, and the shares held by Wan An Group could not be taken away;

Second, the current operating conditions of Qingzhou Yingni Company are no different from privatization. The board of directors has been revoked, and Lin Haoran has essentially gained absolute control over the company, making him no different from a sole proprietor. And since the company has been delisted, it no longer needs to issue various operating announcements to the outside world, such as company financial statements.

In that case, let Waldry do the work.

During this period, Lin Haoran's life was busy and fulfilling.

He not only studied business management with his father Lin Wanan in Wanan Group, but also mastered the essence of company operations;
He also frequently visits Qingzhou Yingni Company to personally inspect and understand the company's latest developments, participate in and approve the company's major decisions, and ensure the company's steady progress.

At the same time, he also did not forget to pay attention to the progress of the privatization of Wal-Mart.

In addition, Lin Haoran will also take time to visit AMG in Kwun Tong to understand the company's operations and provide necessary support and assistance to the team.

During the weekend leisure time, if Guan Jiahui's father Guan Shan happened to be on a business trip, leaving Guan Jiahui alone in Hong Kong, Lin Haoran would have the opportunity to spend a good time with her and enjoy the rare happiness.

It is worth mentioning that father Lin Wanan has entered semi-retirement and gradually handed over the management power of the group to Lin Haoran.

Lin Wanan now only needs to spend half a day in the company every day, and sometimes even provides remote guidance at home, allowing his son to adapt to the helm of the Wanan Group at a faster pace.

After several months of training, he knew that his son Lin Haoran already had the ability to stand on his own, so he could soon safely hand over the burden of the group to him.

While taking on the important task, Lin Haoran also kept a close eye on the developments in the international market.

Especially the changes in international oil prices, he would carefully read the latest oil price information in the newspaper every day.

19.86 USD per barrel, 19.91 USD per barrel, 19.97 USD per barrel, 19.94 USD per barrel, 19.99 USD per barrel, 20.03 USD per barrel…

Oil prices continue to rise, and although there are occasional fluctuations, the overall trend is upward.

By January, the decline of the Pahlavi dynasty was inevitable, and its king, Mohammad Reza Pahlavi, had almost collapsed his control over Iran.

On January 1979, 1, a sensational news spread throughout the world: the king and queen fled Iran. This move immediately triggered carnival among the people at home. The symbols of the Pahlavi dynasty were destroyed one by one within hours, and Iran’s political landscape was rewritten in an instant.

However, just as everyone was expecting Iran to resume oil supplies to the outside world soon after the change of government.

The new government faces a daunting task and will need time to consolidate its power and take over this huge country.

Therefore, despite the regime change, Iran's oil exports remain stagnant, which undoubtedly exacerbates tensions in the international oil market.

As a result, oil prices continued to rise, gradually increasing from US$1 per barrel at the beginning of January to US$20.78 per barrel at the end of January, or even higher.

Those who hoped that oil prices would fall back are likely to be disappointed.

Relying on his memories from his previous life, Lin Haoran was naturally very clear that even if Iran resumed oil exports after March, it would be extremely difficult for oil prices to return to previous levels.

Because the oil giants have already tasted the sweetness of high oil prices, they will not give up this benefit easily. Instead, they may join forces to push oil prices higher.

Therefore, Lin Haoran judged that the future oil price trend will continue to rise, and the increase may be even more rapid. This is naturally a good thing for him. He holds a lot of oil, so the higher the oil price, the better.

The outbreak of the oil crisis had a relatively mild impact on Hong Kong's economy in the short term.

After more than a month of careful observation, Hong Kong stock investors found that this oil crisis is different from the one in 1973 and its impact on the stock market seems limited.

After experiencing a short-term decline in trading volume and price drops, many stocks quickly showed signs of rebounding, making the Hong Kong stock market revitalized and returning to its former bustling state.

The festive atmosphere of the Spring Festival gradually faded, and time quietly entered February.

On February 2, Wanan Group officially released an important announcement to the public, announcing major adjustments to positions within the group.

From today, Mr. Lin Wan An will step down as Chairman of the Board of Directors of Wan An Group and will be succeeded by his son Lin Hao Ran, while Mr. Lin Wan An will retain the position of Honorary Chairman of the Board of Directors.

This change marks that Mr. Lin Wanan has officially handed over the Wan'an Group, which he has built with his life's efforts, to Lin Haoran.

At this moment, Lin Haoran has truly become the boss of two large companies, and the responsibilities on his shoulders are even greater.

After the Wanan Group's board of directors meeting was successfully concluded, Mr. Lin Wanan was filled with emotion.

From now on, he can enjoy his retirement life with more peace of mind and entrust the future of the company entirely to Lin Haoran, who has passed the test and is capable of standing on his own.

For Lin Wanan, this is undoubtedly a high recognition and trust in his son's abilities.

"Hao'er, from now on, Wan'an Group will be handed over to you. This is the career I have devoted my life to. I hope you can lead it to a brighter future." Returning to the chairman's office full of memories, Lin Wan'an's eyes were full of reluctance and expectations.

"Dad, please rest assured, I will do my best to take Wan'an Group to a higher level and live up to your expectations!" Lin Haoran responded firmly.

For him, it is not difficult to run Wan'an Group well.

Although the group is not the largest in Hong Kong's real estate industry, its solid foundation is unparalleled.

There is no burden of debt, which may be unique in the entire real estate industry in Hong Kong.

"I have seen your performance over the past few months. That is why I feel relieved to hand over the management of the group to you." Lin Wanan looked at every corner of the office with mixed feelings in his heart. "I have been busy for most of my life. It's a bit hard for me to get used to suddenly taking off the burden of the chairman."

"Daddy, if you feel bored at home in the future, just come over and visit. It is only natural for a son to inherit his father's business. If I encounter any difficulties, I will still ask you for advice. Your business wisdom will always be my role model!" Lin Haoran consoled with a smile.

"Yes, although I am old, I am still able to move around without any problems. I can come back whenever I want. But when people get old, they sometimes feel a little nostalgic." Lin Wanan was also amused by his son's thoughtful words.

Over the past few months, under the careful guidance of his father Lin Wanan, Lin Haoran has not only deeply studied the essence of corporate management, but also gradually established close ties with the middle and senior managers of Wanan Group and gained a comprehensive understanding of their capabilities.

Now, with power in his hands and the position of chairman completely handed over to him, he suddenly found that he could finally see the loyalty of Wan'an Group's employees.

The senior executives of Wan'an Group have generally been working with Lin Wan'an for many years, so Lin Haoran discovered that the loyalty of the entire Wan'an Group's senior executives is surprisingly high.

For example, Yang Mingyi, general manager of Wanan Group, has a loyalty level of 91.

This level of loyalty is already ridiculously high.

Lin Haoran had seen Yang Mingyi's resume.

Yang Mingyi, 49 years old this year, graduated with a master's degree from Harvard Business School. He has been working at Wan'an Group for 18 years, starting as an accounting supervisor. He was eventually promoted to general manager of the group by Lin Wan'an five years ago.

Although Lin Haoran did not fully understand why Yang Mingyi was so loyal, he believed that this must be due to the deep friendship and common struggle between Lin Wanan and Yang Mingyi.

Whether it is Lin Wanan's kindness to Yang Mingyi or the tacit understanding and trust formed between the two at work, it is enough to make Yang Mingyi loyal to Wanan Group.

Lin Haoran didn't try to understand their story because there was no need.

He only needs to know one thing, that is, this Yang Mingyi is trustworthy!

After Lin Wanan went back, Lin Haoran called Yang Mingyi to the office.

"Boss, do you have something to talk to me about?" Yang Mingyi asked respectfully after coming in.

Now, there is no senior executive of Wan'an Group who does not admire Lin Haoran. The reason is very simple. Lin Haoran not only acquired the British-owned enterprise Qingzhou Yingni, but also completely privatized the company.

Not to mention the top management of Wan'an Group, even in the whole of Hong Kong, there are many people who admire Lin Haoran.

Moreover, all the top management of Wan'an Group knew that when the new boss acquired Qingzhou Yingni, even the old chairman Lin Wan'an didn't know about it at the beginning. After he found out, he only assisted in a supporting manner. In other words, Lin Haoran snatched the position of chairman of Qingzhou Yingni Company with his own strength.

"Mr. Yang, please sit down first, don't stand." Lin Haoran said with a smile.

Yang Mingyi nodded and sat opposite Lin Haoran.

"Mr. Yang, I think Wan'an Group's previous development speed was too slow. Do you have any unique insights or suggestions on how to speed up the group's development?" Lin Haoran immediately threw out a question.

(End of this chapter)