In Hong Kong, we build a global business empire

Chapter 606: Do whatever you want and disregard the law!
Even though there is no sign of fund transfer from Lin Haoran's company at this moment, if the other party suddenly attacks at the critical period of poaching, Huifeng Bank may fall into a difficult situation of being attacked from all sides.

Huifeng Bank has many investments outside, including overseas investments, such as the US Haifeng Bank. Since the acquisition, it has not only failed to help Huifeng Bank make money, but also requires Huifeng Bank to continuously inject funds to fill the deficit.

In addition, as the largest bank in Hong Kong, the amount of money loaned out by Huifeng Bank is even more terrifying.

Just because Huifeng Bank had HK$1312 billion in deposits last year doesn’t mean that Huifeng Bank has that much cash now.

Take the Bank of East Asia for example. It had over HK$6 billion in deposits last year, but actually had less than HK$3 billion in cash on its books.

These are naturally the funds that banks use to invest and make money.

Whether it is investing in a business or taking out a loan, the purpose is to make money.

Otherwise, if the deposits of these customers continue to remain in Huifeng Bank's accounts, the bank will suffer greater losses.

After all, they also need to pay interest to depositors.

Once banks are unable to generate sufficient profits through effective investment and lending to cover these interest expenses and operating costs, their financial situation will deteriorate rapidly.

Being able to safely lend out funds and achieve stable and substantial returns is the core essence of Huifeng Bank's ability to maintain operations, gain profits and ensure a stable capital chain.

Therefore, the cash on Huifeng Bank's books is not as much as imagined.

Although the withdrawal of cash by companies such as Hong Kong Electric Group will not kill Bank of Hong Kong, it will definitely have a certain impact. It's just that this impact is acceptable to them.

Therefore, Shen Bi is now becoming more and more cautious in approving the company's expenditures.

Bao John responded confidently: "Mr. Shen Bi, I have thought of all the things you have considered. Regarding the time issue, we can proceed in stages, starting with some key positions and core talents. Once these people are poached, the impact on Bank of East Asia will be the greatest.

In terms of cost, although the initial investment will be relatively large, as long as the Bank of East Asia collapses, what we gain will far exceed these expenses. Think about it, once the potential threat of the Bank of East Asia is completely eliminated, our position in the Hong Kong financial industry will be more stable, and the profits obtained from other business segments in the future will be enough to make up for this cost.

Besides, Mr. Shen Bi, have you forgotten Li Fushu and his team? Li Fushu has now completely left the Bank of East Asia, which means that they must be preparing for their own new bank.

As far as I know, they only took more than 30 people from the Bank of East Asia. This number of people is obviously far from enough to prepare for a new large bank, so they must also hope to obtain a large amount of human resources from the Bank of East Asia.

The Li Peicai family has controlled Bank of East Asia for so many years and is well aware of the bank's talent structure. As the former boss of Bank of East Asia, many employees must still have affection and trust in him.

We can take the initiative to contact Li Fushu and express our intention to cooperate. Together, we can secretly poach talents from the Bank of East Asia. In this way, as long as Li Peicai's family comes forward, we can not only speed up the process of poaching, but also disperse the risks and reduce the possibility of being discovered by Lin Haoran.

The cooperation with the Li Peicai family is of great benefit to us. "

After Shen Bi heard this, he gradually felt something was suddenly clear.

Bao John's proposal was indeed suitable for them.

Shen Bi nodded slightly, a hint of approval flashed in his eyes, and said: "Mr. John, your idea does make some sense. Cooperating with the Li Peicai family can not only take advantage of their influence in the Bank of East Asia, but also share pressure and reduce risks.

However, it is not easy to cooperate with them. The Li Peicai family has always been shrewd. We have to plan carefully to ensure that we take the initiative in this cooperation and not be led by them. "

Previously, they had intended to have Bank of East Asia commit to many conditions.

But in the end, they had no choice but to agree to the conditions proposed by Li Peicai's family. They only withdrew from the Bank of East Asia and refused to agree to any other conditions that were not favorable to Li Peicai's family.

Instead, they promised many benefits to Li Peicai's family, and finally reached a cooperation agreement with the other party.

So, the Li family is indeed difficult to deal with.

"Let's give it a try. If they don't agree, we can only act on our own. We, the Bank of East Asia, are also good at poaching people. What's more, the Bank of East Asia has always been the most coveted company for Hong Kong banking workers. The situation of Bank of East Asia is not very good now. I believe it will be easier to poach people." Bao John suggested.

"Okay, let's do it. I will personally meet with Mr. Li Fushu tonight!" Shen Bi was also a decisive person and made the decision right away.

In his opinion, now is the best time to kick the man when he is down.

Otherwise, he was afraid that something might happen at the Bank of East Asia.

After all, today's opponent is not simple. It is a powerful opponent that even Jardine Matheson was completely defeated by.

It was only in recent years that their Huifeng Bank gradually surpassed Jardine Matheson. In fact, its actual strength is not much stronger than that of the previous Jardine Matheson.

Therefore, he would not feel at ease until the Bank of East Asia was completely defeated.

At the same time, more and more people were queuing outside the Bank of East Asia in various parts of Hong Kong.

The combination of multiple pieces of bad news made everyone even more panicked, fearing that all the cash in the Bank of East Asia would be withdrawn, resulting in their savings being lost.

Such a scene has not appeared in Hong Kong for more than ten years.

Moreover, this time, except for Bank of East Asia, this kind of thing did not happen to other banks.

The Bank of Hong Kong has joined hands with other Hong Kong banks to boycott the Bank of East Asia. Such a scene is rarely seen in the world.

After all, this kind of unfair competition is strictly regulated and restricted in all countries. If you are not careful, it will cause turmoil in the financial market and severe sanctions from regulators.

However, in the special environment of Hong Kong, coupled with the absolute dominance of Bank of Hong Kong in the financial industry of Hong Kong and the deliberate ambiguous attitude of relevant government agencies, this boycott was actually carried out openly.

This is absolutely unimaginable in other regions. After all, even if Huifeng Bank has the status of a big company, it is not a government agency. Naturally, it does not have the power to arbitrarily control market rules or even directly make false accusations and criticize another peer company without evidence. Such behavior is already regarded as wantonly suppressing competitors.

Doing whatever they want and having no regard for the law is the perfect way to describe the current Huifeng Bank.

But in Hong Kong, the Governor's Office is unwilling to care about them and is clearly biased towards them. There is nothing that can be done about it.

After all, this place is currently a British colony, and Huifeng Bank is a British-owned enterprise!

In the four major stock exchanges, investors are even more panicked.

From the highest price of HK$52 per share a few days ago to the current price of HK$5 per share, the drop has even reached ten times.

It is hard to imagine that a stock can undergo such earth-shaking changes in such a short period of time.

The share price of Bank of East Asia plummeted, leaving countless investors penniless, and emotions of anger and despair quickly spread within the stock exchange.

But they couldn't blame Lin Haoran. After all, this incident was initiated by Huifeng Bank. Lin Haoran was the biggest victim and the shareholder who held the most shares of Bank of East Asia.

As for Huifeng Bank, they knew they couldn't afford to offend it.

Therefore, in this situation, all they have to do is find a way to sell their shares in Bank of East Asia.

However, Bank of East Asia is no longer for sale.

After the price dropped to HK$5 per share, no one wanted to lower the price further.

Occasionally, the price drops to more than four yuan per share.

However, not much.

Many people bought it at the peak period, when it was 40 or 50 Hong Kong dollars per share.

Now, the stock price has fallen to HK$5 per share.

It can be said that they really lost all their money. The anger and unwillingness in the hearts of those shareholders who bought Bank of East Asia shares at a high price burned like a raging fire.

They complained and sighed to each other in the exchange, their eyes full of despair and helplessness.

The trading volume of Bank of East Asia's shares is getting smaller and smaller. Even when the price dropped to HK$5, or even lower, there are still not many transactions.

The reason is that there are only sell orders and not many buy orders.

After all, only a few people want to take a chance and transform a bicycle into a motorcycle.

Moreover, facing such a Bank of East Asia, those powerful bankers did not think that Bank of East Asia had any chance of turning around, and they avoided it one after another, fearing that they would be stuck with this "hot potato" and suffer losses in their own assets.

Lin Haoran is indeed very strong in the business world, but everyone thinks that the banking industry is not something that a newcomer like him can handle, especially when Huifeng Bank and almost all banks in Hong Kong are maliciously targeting it, Bank of East Asia does not have much development prospects.

This is also the reason why not many people are selling Bank of East Asia’s stock even though the price is so low.

Time passes by bit by bit.

Soon, the closing bells of the four major stock exchanges rang, indicating that today's stock market trading officially ended.

The share price of Bank of East Asia is currently still above HK$4.78 per share.

However, if someone does the statistics, they will find that the trading volume of Bank of East Asia throughout the day was less than 500,000 shares.

The volume of 500,000 shares seems insufficient compared to the total volume of more than 150 million shares.

This means that Bank of East Asia's transaction volume is too small, so small that it can hardly affect the overall situation.

"We should let the Securities Regulatory Commission make the decision for us. Huifeng Bank's behavior should not be tolerated!" A shareholder with a flushed face and excited emotions shouted loudly in the exchange hall.

He owns more than 5,000 shares of BankAsia, and most importantly, he bought almost all of them at very high prices.

At that time, he spent more than 200,000 Hong Kong dollars because he felt that the share price of Bank of East Asia would definitely rise to a total market value of more than 10 billion Hong Kong dollars, or even more, like Hang Seng Bank.

But now, the original principal of more than 200,000 Hong Kong dollars is worth less than one-tenth of its original value.

How could he accept this situation?

This stockholder's proposal quickly received responses from many stockholders.

"Yes, we have to gather more shareholders to go together! There is strength in numbers, and the Securities Regulatory Commission will definitely not ignore us!" A shareholder suggested loudly.

Soon, at their call, hundreds of people marched towards the office headquarters of the Hong Kong Securities and Futures Commission.

The news spread quickly to other stock exchanges as if it had wings.

All of a sudden, more and more investors began to gather at the Hong Kong Securities Regulatory Office from all directions. The team became larger and larger, and the momentum became more and more powerful.

(End of this chapter)