In Hong Kong, we build a global business empire

Just as Lin Haoran had imagined, Li Jiacheng's public letter of thanks quickly triggered a public opinion earthquake in Hong Kong that was even more intense than the stock market crash itself.

This shock, which began at the newsstands in the early morning, spread rapidly like a virus to every corner of Hong Kong, reaching everyone's ears and stirring up already anxious and uneasy hearts.

A long-established tea restaurant on Queen's Road Central in Central.

"Hey, Lao Zhang, have you seen it? Li Ka-shing published a thank you notice for Mr. Lin!" A middle-aged stockbroker in a wrinkled Brazilian suit slammed the Sing Tao Daily onto the greasy dining table.

The man opposite him, called Old Zhang, was staring with a worried expression at the stock data in the Hong Kong Securities Daily, which included real estate companies such as Cheung Kong Holdings that had plummeted. He held many of these blue-chip stocks.

Upon hearing this, Old Zhang suddenly looked up and snatched the newspaper: "Impossible! Don't Mr. Li and Mr. Lin have a grudge? Mr. Lin just snatched Huangpu from me a while ago, that's a blood feud!"

He quickly scanned the statement, his eyes widening in disbelief. "A timely act of kindness, a leader's responsibility—my God, written so humbly! Who is Mr. Li to need to act like this?"

"Don't you understand? This isn't just gratitude! It's admitting defeat, it's a public plea for help! You think two billion was lent for nothing? Look here, 'fair and reasonable terms'? Who believes that! They must have staked their entire fortune!"

Even a top-tier real estate giant like Cheung Kong Holdings has to take this step. In that light, aren't other real estate companies even more precarious?

Old Zhang's hands were trembling as he held the newspaper.

He had been clinging to a sliver of hope that "as long as the leading stocks don't fall, there will always be a rebound" when he held those real estate stocks.

But now, not only has the leader fallen, but it has also begged for help from its rival in an almost humiliating manner.

What does this mean?
This suggests that the financial black hole in the entire industry may be deeper and more terrifying than what the Forbes report described or what he imagined!
"No wonder it fell so hard," Old Zhang muttered, his face ashen.

"Even Li Jiacheng couldn't hold on and had to bow down and beg Lin Haoran for help, so what about those other companies with even higher debt and more aggressive projects? They're finished, completely finished! My stocks..."

The more he thought about it, the more panicked he became. He didn't even bother with breakfast anymore, grabbed his briefcase and rushed out: "No, I have to get to the trading hall right away and sell as much as I can after the market opens! It'll be too late if I wait any longer!"

Watching Old Zhang's hasty departure, the middle-aged broker, remembering the stocks he held, couldn't sit still any longer.

He quickly paid the bill and walked out of the tea restaurant.

On the streets, the white-collar workers who usually rush about seem more hesitant and whispering to each other today.

The crowd in front of the newsstand was several times larger than usual, and almost everyone held a newspaper with Li Jiacheng's statement in their hands. Their expressions were a mixture of shock, worry, and excitement as if they had glimpsed a top secret.

"Really? Li Ka-shing bowed his head to Lin Sheng like this?"

"It's published in black and white in the newspaper, how could it be fake? Look at the wording, 'the highest respect', 'leadership responsibility', tsk, they've really lowered their stance, how can they act like Hong Kong business tycoons?"

"It seems the real estate industry is really about to change drastically; even Mr. Li can't withstand it..."

"Hengsheng Group is truly confident; they can lend HK$2 billion without hesitation!"

"That's normal. After all, Hengsheng Group is now the real hegemon in Hong Kong's banking and even financial sectors. Many large companies' cash flow goes through several banks under Hengsheng Group. How could there not be a lot of money?"

"Now, Lin Sheng's position as the dominant figure in Hong Kong's business world is completely unshakeable!"

Similar discussions can be heard everywhere: at bus stops, in office building lobbies, and in front of convenience stores on street corners.

The impact of Li Ka-shing's statement quickly spread from the financial news to the streets and alleys, becoming the hottest topic in Hong Kong on the last day of 1981.

It acted as a powerful catalyst, not only exacerbating the panic among ordinary citizens regarding real estate and the stock market, but also forcibly implanting the perception of "the collapse of the old order and the rise of new strongmen" into the public consciousness.

Inside a private club in Tsim Sha Tsui.

Several influential figures in the real estate industry gathered together in an informal setting, a rare occurrence, and the atmosphere was so tense it was almost palpable.

Several newspapers were also spread out on the table.

"Li Sheng's move was really..." A tycoon known for his prudence sighed, shook his head, and didn't finish his sentence, but everyone understood what he meant.

"It's more than just taking a step; it's like putting ourselves on the hot seat and exposing all of us in a completely transparent way."

Another person, more outspoken, spoke with suppressed anger: "His 'thank you' will make all of Hong Kong think we're all like him, just one step away from bankruptcy! That's more damaging than ten Forbes reports, what's the difference between that and adding fuel to the fire?"

“What’s the use of saying all this now?” The old man sitting in the main seat spoke slowly. He was the most senior among them. “I know Brother Jiacheng’s character. He would never condescend to this unless he had no other choice.”

This shows that the financial pressure he faces far exceeds external expectations and our previous judgment.

Even Cheung Kong Holdings is in this situation; you should all ask yourselves honestly, how long can your own companies' cash flow last? How will you cope with the upcoming debt and land price increases?

His words silenced everyone present.

What might have initially been a sense of shared hatred or a feeling of shared misfortune has now transformed into a profound chill regarding one's own predicament.

Li Jiacheng's experience serves as a cruel mirror, reflecting the fate they themselves may soon face.

"Then, what about Lin Haoran?" someone asked hesitantly.

The old man's gaze was profound: "The fact that he was willing to lend money to Cheung Kong at this time under such conditions shows two things: First, Hengsheng Group has a huge amount of liquidity that we can hardly imagine."
Secondly, he is by no means a philanthropist. This two billion is a lifeline, but it could also be a noose around the neck of the Yangtze River.

Don't forget, the other party is now also a shareholder of Cheung Kong Holdings, and with a considerable number of shares. It's reasonable for him to ask Heng Sheng Group to lend money to Cheung Kong Holdings. However, it's unreasonable for Jia Cheng to publicly publish a thank-you letter that is insulting to him!

What we should be more wary of is whether he will turn his attention to others next.

The club was completely silent.

A chilling feeling, as if being secretly scrutinized by a powerful predator, crept up everyone's spine.

Amidst the panic triggered by the Forbes report, the near-freeze of real estate credit, and the near-desperate situation of countless small and medium-sized developers and speculators, Cheung Kong Holdings, one of Hong Kong's most representative Chinese-owned real estate giants, was able to obtain a life-saving sum of up to HK$2 billion from Lam Ho-yin!
This is not just a huge sum of money, but also a strong signal:

First, Lin Haoran and the Hengsheng Group he controls possess ample cash flow, enough to influence the situation.

When the market was most panicked and short of money, they were among the very few "big spenders" who had the ability and were willing to release large sums of money.

Secondly, even a powerful figure like Li Jiacheng, who had once fiercely opposed Lin Haoran, had to bow down and accept harsh conditions in order to survive.

This means that other struggling real estate developers who want financial assistance may have to pay a much higher price than Li Ka-shing, or they may not even have the right to negotiate at all.

Third, portraying Lin Haoran as a "leader who stabilizes the market and weathers the storm together" is not only a compliment from Li Jiacheng, but may also be a way to transform Lin Haoran from a "victim of the real estate crash" into a "stabilizing force and potential savior in the crisis".

This is undoubtedly a fundamental blow to Forbes' reporting logic!
Forbes' core argument is that Lin Haoran's wealth is deeply tied to real estate, and a real estate collapse would inevitably lead to a severe reduction in his wealth, thus proving that the data in its "Oriental Rich List" is distorted and its authority has collapsed.

However, if Lin Haoran not only escaped the real estate crisis but also amassed a fortune, becoming one of the few powerful individuals capable of "buying at the bottom" or "rescuing" during the crisis, then Forbes' entire reasoning would be shaken.

Of course, Forbes is far away in New York and cannot see this statement yet, or even if they do, they may selectively ignore or misinterpret it.

But the shrewd people in Hong Kong, especially the seasoned veterans of the business world, could not possibly ignore this bombshell news.

At this moment, countless eyes in the major office buildings of Central, Admiralty, Wan Chai, and Tsim Sha Tsui in Hong Kong are staring at this Sing Tao Daily, their hearts churning with turmoil.

This real estate crisis is destined to last for one or two years!
Although the current real estate crisis has only just begun, real estate company owners are certainly already considering the future of their companies.

Those real estate developers who were still hesitating about whether to sell at a loss or struggling to hold on and wait for a turnaround may have their hopes dashed further after seeing Li Ka-shing's situation and choices.

They either have to seriously consider asking Lin Haoran's camp for help under even more dire conditions, or they can only watch helplessly as their hard-earned businesses wither away due to a broken funding chain.

Meanwhile, Hengsheng Group, a Hong Kong financial giant, was able to acquire a large amount of high-quality collateral assets and stable loan interest income at an extremely low cost.

……

Li Ka-shing's public letter of thanks completely disrupted the plans of many Hong Kong real estate tycoons.

The bigwigs may still be trying to maintain their composure on the surface, but Li Jiacheng's humble open letter is like a bomb dropped into deep water, and the shockwaves are spreading rapidly underwater, shaking every seemingly solid pillar.

Panic is spreading among retail investors, while at the top of the pyramid, a deeper vigilance and calculation based on survival considerations is growing wildly.

Everyone realized that the rules of the game might have changed.

The young man who held the most chips and stood by detachedly has become the most awe-inspiring and terrifying variable in this cruel game.

Lin Haoran may have guessed what others thought, but he didn't care.

At this moment, he was sitting in his office in the Kang Le Building, making a phone call, while Liu Xiaoli was massaging his shoulders behind him.

The call was from Cui Zilong, who was not in Hong Kong at the time, but in Singapore.

After all, tomorrow is the release date of the "Singapore Rich List" prepared by MediaCorp.

As the chairman of Media Group and the keynote speaker at the press conference, Cui Zilong arrived in Singapore a day in advance to make final preparations.

At this moment, he was staying in a suite at the Raffles Hotel. His voice came through the transoceanic telephone line, carrying a hint of excitement and solemnity.

"Boss, the media list for tomorrow's press conference has been expanded again. In addition to Singapore, other regions in Southeast Asia, and even the Asia-Pacific branches of more than a dozen mainstream European and American financial media have confirmed their attendance. The hype has already been generated."

Furthermore, all the billionaires on the list have confirmed their attendance at the rich list release conference, including Mr. Guo Henan. Singapore TV and Johor Bahru TV have also confirmed they will be broadcasting the event live. Cui Zilong's voice reached Lin Haoran's ears.

"Well done," Lin Haoran praised. "Uncle Guo's personal attendance is of great significance. The wider the coverage of the live broadcast, the better. Remember, tomorrow's press conference is not just about releasing a list, but also a stage to showcase the professional image and forward-looking vision of the 'Oriental Rich List' brand to all of Asia and even the world."

“Yes, boss, I will definitely make this press conference a success. I have also specially transferred 500 elites from Huanyu Security Consulting Company from the training base in the Philippines. In addition, the Singapore Police Force is cooperating with us. With their experience in Hong Kong, there will be no mistakes!” Cui Zilong replied.

"By the way, has Forbes made any moves?" Lin Haoran continued to ask.

"No, not yet. I'll contact you immediately if there's any new information!" Cui Zilong said.

"Okay, I understand. You can go ahead with your work!"

After hanging up the phone, Lin Haoran fell into deep thought.

He wasn't worried about anything going wrong with this "Singapore Rich List".

He was wondering if Forbes had another trick up its sleeve.

After all, Forbes' real purpose was certainly not just to plunge Hong Kong's real estate industry into crisis.

Their goal, from beginning to end, has always been Lin Haoran, or rather, the Oriental Media Group behind Lin Haoran.

Lin Haoran knew this.

The fundamental reason why Forbes chose to launch its attack on the "Hong Kong real estate crisis" is that Lin Haoran's wealth empire and the authority of its "Oriental Rich List" are the most direct challenges and threats in Forbes' eyes.

A report that triggered market panic was just the prelude; the real killer move will inevitably follow, aiming to completely deny the credibility of Lin Haoran and his list, thereby defending Forbes' absolute authority in the global wealth ranking field.

Therefore, we must be wary of Forbes.

To be able to throw Hong Kong's real estate industry into chaos with just one article is truly impressive.

Cheung Kong Holdings, Headquarters, Chairman's Office.

Li Jiacheng put down his mobile phone and rubbed his throbbing temples with his right hand.

Early in the morning, he received a series of calls from many big names in Hong Kong's real estate industry.

Some of these people wanted to know how he obtained a HK$20 billion loan from Hengsheng Group, but most of them were indirectly criticizing him, complaining that his statement "undermined morale" and "put everyone on the spot."

Although the phone call maintained a polite facade, Li Jiacheng could clearly hear the resentment and panic in the words.

He understood the fear and anger of his colleagues.

His open letter was indeed like tearing off the last fig leaf, forcing everyone to face the bloody reality. If even Cheung Kong Holdings had to beg for help in such a humiliating way, then the situation of others would only be worse.

But he had no choice.

When it comes to survival, saving face is worthless.

Lin Haoran gave him a way out, even though the road was full of thorns and humiliation, it was still better than falling into an abyss.

"Mr. Li, Mr. Chen Songqing from Jianing Group would like to invite you for afternoon tea. He says he has some thoughts on the market outlook that he would like to discuss with you," the secretary said softly as she entered.

Upon hearing this, Li Jiacheng's inward sneer intensified.

Jialing Group?

That "star" company that rapidly expanded through stock market speculation and aggressive acquisitions, resulting in a high debt ratio?
Chen Songqing's reason for seeking him out at this moment was probably not to discuss market prospects, but rather to sense an even stronger atmosphere of death and to see if he could find a lifeline from him, or at least to inquire about ways to "survive".

Although they were both Hong Kong real estate tycoons, Li Ka-shing could see early on that Chen Songqing was taking crooked paths and would get into trouble sooner or later!
Therefore, although both are Hong Kong real estate giants, Cheung Kong and Caring have never cooperated.

"To Mr. Chen, thank you for his invitation, but I need to focus on internal company affairs these few days and will be unable to go out for the time being. Please convey my apologies and greetings," Li Jiacheng said directly.

He's in dire straits, barely able to save himself, let alone have the time or energy to deal with his colleagues who are also on the verge of collapse.

Moreover, he had some idea of ​​how big the hole in the Jianing Group was.

That might be a bottomless pit; whoever gets involved will be doomed. He didn't want to have anything to do with Chen Songqing at all.

"Yes, Mr. Li!" The secretary respectfully left the office.

Meanwhile, in the chairman's office of the Jianing Building.

Upon receiving the reply from Cheung Kong Holdings, Chen Songqing was so enraged that he wanted to smash his mobile phone.

However, he ultimately held back.

If Cheung Kong Holdings is mired in a debt crisis, then the situation of Caring Group can only be described as "desperate".

Chen Songqing loosened his tie in frustration and paced back and forth in the spacious, almost empty office.

Outside the window was the bustling Wan Chai, but all he could see was the ever-approaching cliff.

Caring Group, a "new real estate tycoon" that has risen rapidly in the past few years through frenzied stock market speculation, aggressive land acquisitions, and dazzling asset maneuvers, is now facing a crisis of imminent collapse.

Its stock price has plummeted by more than 40% in the past two days, wiping out nearly HK$3 billion in market value.

But that's not the most fatal thing.

Most fatally, the Jialing Group has a high level of debt.

To maintain his expansion myth, Chen Songqing built a massive debt pyramid through complex cross-shareholdings, related-party transactions, and high-interest bonds and bank loans.

This pyramid is built on the expectation of continued increases in asset prices, especially real estate and stock prices.

Now, Forbes' report has burst the bubble in Hong Kong's real estate market, causing market confidence to collapse, asset values ​​to shrink dramatically, while debt interest and principal due still have to be paid in full.

To make matters worse, many of the "high-quality assets" of the Jianing Group are actually overvalued, or even involved in insider trading.

During periods of market prosperity, these can lead to soaring stock prices and easier access to financing;

During market panic, these stocks become the first to be suspected and sold off, their true value is quickly exposed, and they may even become worthless.

In the past few months, he has sold off a lot of properties and assets to raise funds. Under normal circumstances, this should allow Jia Ning to hold on for a while longer.

Unfortunately, Forbes published that damned report at this critical juncture, plunging the entire Hong Kong real estate industry into a panic and exposing the already precarious cash flow of the Caring Group to the icy depths.

The stock market crash not only caused Jialing's market value to evaporate, but more fatally, it directly destroyed the last shred of confidence in its debt repayment ability.

The pressure from banks demanding loans and bondholders requesting early redemption is increasing daily, while asset buyers who were originally interested are now backing down and waiting to see what happens, and some are even taking the opportunity to lower prices.

In the past few days, Yang Changdao, the general manager of Yumin Finance Company, has been visiting repeatedly, his purpose being to collect debts.

However, he wasn't afraid of Yumin Finance Company. After all, he and Yang Changdao were in cahoots. If he fell, Yang Changdao wouldn't escape either.

Therefore, if he couldn't repay the money to Yumin Finance Company in a short time, Yang Changdao would help him find ways to delay the time.

But he has more than just Yu-Min Finance Company as a creditor; he also has Hong Kong Bank of Communications, Standard Chartered Bank, and others!

To be honest, Standard Chartered Bank was quite wronged, as it originally had no cooperation with Caring Group.

However, in order to get rid of the troublesome Huifeng Bank to Hengsheng Group, they did accept Lin Haoran's conditions, allowing Jianing Group's debts to be transferred from Huifeng Bank to Standard Chartered Bank.

Therefore, Standard Chartered Bank is also a major creditor of Caring Group.

These past two days, with creditors frequently coming to his door demanding money, Chen Songqing has been extremely troubled. It's impossible for him to borrow any more money from these banks.

Therefore, he set his sights on Hengsheng Group, the largest banking group in Hong Kong.

He was extremely envious when he saw that Cheung Kong had secured a HK$20 billion loan from Hengsheng Group early in the morning.

Therefore, he decided to ask Li Jiacheng what kind of conditions the other party had offered.

"That old fox Li Jiacheng, he's quick to hide!"

Despite his cursing, Chen Songqing knew in his heart that Cheung Kong Holdings was in dire straits and Li Ka-shing was trying to avoid him, so how could he possibly invite trouble upon himself?

This seemingly most direct "shortcut" is no longer viable.

"What the hell!" He casually smashed the teacup on his desk to the ground, making a piercing cracking sound.

The secretary heard the commotion outside the door but dared not come in.

She's gotten used to this behavior over the past few days.

Chen Songqing didn't even bother to look at the shards scattered on the floor. He went straight to the liquor cabinet, grabbed the bottle of strong liquor, and this time, he didn't even bother with a glass. He gulped it down from the bottle again.

The burning sensation of alcohol brought a brief numbness, but it couldn't dispel the bone-chilling cold and the desperate panic of being at one's wit's end. (End of Chapter)