Hong Kong 1980: The Savage Era

Chapter 323 Chapter 324 [Nengda Technology Sniper Case]

As the head of the family, Guo Zhiquan did not have the power to make the final decision, so he could only tell Luo Qihong that their family members needed to discuss the matter before giving him an answer.

As for the specific time, Guo Zhiquan did not say, which was obviously a polite refusal.

In fact, in Guo Zhiquan's eyes, Yong'an Bank is beyond saving. Even if it is saved, it will repeat the same mistakes in the future. It is better to abandon it directly and start over.

As the head of the family, Guo Zhiquan knew the character of his clansmen too well, and he could not control the entire Guo family like his elders did. He could only preserve as much of the Guo family's assets as possible.

"This Luo Qihong is too arrogant. Who does he think he is? He is just a small person who got lucky and made a little money. Why is he so arrogant in front of us?"

"Even people like Li Jiacheng and Li Zhaoji fell into Luo Qihong's hands. Who do you think he is? If there were no Guo family, who would you be?"

"Guo Zhihuan, what did you say? Who are you in the same group with?"

Some people are willing to cut off their arms and be reborn, while others are unwilling to give up Yong'an Bank. After all, without the banking industry, these people will lose the source of their power and wealth.

If they want to enter other family companies, how can other family members who have already gained benefits agree? Another big dispute is inevitable, and eventually they become abandoned children of the family and lose considerable wealth and income.

"Okay! Now we have to discuss how to deal with Yongan Bank. Should we abandon it or save it?" Guo Zhiquan shouted. "I think we should save it. It is one of our family's ancestral businesses. Without Yongan Bank, it will be difficult for us to recover."

Guo Zhiquan did not intend to be accused of throwing away his family property, so he had to say some lies to distance himself from the matter.

"That's right. Among so many industries, the most valuable one is Yongan Bank. With Yongan Bank, we have financial resources and can compete with people like Luo Qihong for the Hong Kong market."

"Yong'an Bank has so many bad debts. How can we save it? Do you have the money to rescue it? It's a quagmire that even hundreds of millions of dollars may not be enough to fill."

"You want to save Yongan Bank only for the little profit you have. I reminded you a few years ago not to go too far and treat Yongan Bank as your own ATM. The current situation is caused by you. Why do you need the family to rescue you?"

"How do we calculate the losses incurred by the family's rescue of Yong'an Bank? Do you, the shareholders of Yong'an Bank, have to give up something?"

The quarrel turned into a chaotic one, and the main people in power, such as Guo Zhiquan, stopped talking, and there was no intention of asking them to stop.

In fact, Yong'an Bank is already beyond salvation. 9% of the loans it issued have become bad debts, 3% of which are loans to members of the Guo family.

That's because the Guo family members were afraid that after outsiders took over Yong'an Bank, they would be asked to repay their debts immediately. Wouldn't that mean they would go bankrupt personally?
In the study

Guo Zhiquan sighed and said, "It was all Guo Zhikuang's fault. Not only did he die, but he also bankrupted Yongan Bank. If Guo Zhikuang had not been allowed to run Yongan Bank and if he had used more power, perhaps it wouldn't have become what it is today."

"The current Yong'an Bank is a whirlpool. No matter how much money we invest in it, it will be in vain. Only by giving it up can the family continue."

Guo Zhikuang died in the United States several months ago due to cancer. He previously served as the vice chairman of Wing On Bank and was the actual controller of Wing On Bank.

Cousin Guo Zhiliang also sighed and said, "It's no use talking about this now. The problems of Yongan Bank still need to be solved as soon as possible. If we delay it for too long, it will easily backfire."

"The family's other businesses aren't doing very well either. If we lose those businesses again, the family will be seriously damaged and may not be able to rise again."

Guo Zhiliang is still a very capable person among the third generation of the Guo family, but his identity limits his development. He must rely on the eldest house to gain power and gain a foothold.

"I also want to resolve it quickly, but... you can see that these people will not give up until they reach their goal. Unless we give them some benefits from other places, Yong'an Bank will still need external forces to resolve it." Guo Zhiquan is very insightful about family affairs.

Guo Zhiliang took a peek at Guo Zhiquan's expression. He knew very well that Guo Zhiquan was unwilling to properly arrange for his clansmen who were employed at Yong'an Bank. If he could find a way to relocate them, the problem should not be difficult to resolve.

He can provide advice and suggestions on some matters, but not on others. Otherwise, if things are not done well, he will be excluded from the core of power.

The only solution now is to bring in strong people to muddy the waters.

"Maybe we can make use of Luo Qihong." Guo Zhiliang said.

Speaking of this, Guo Zhiquan suddenly became excited and asked, "How to use it?"

"Our family is in decline now, but the assets we have are of high quality. If we lose Yongan Bank, it will also attract other covetous people. It is better to cooperate directly with Luo Qihong and give up some asset rights to him. This way, we can also revitalize the whole chess game." Guo Zhiliang knew that there were great risks involved. After all, Luo Qihong had a bad reputation.

"You want to sell your assets in Central, Tsim Sha Tsui, and Sheung Wan?" Guo Zhiquan pondered for a moment and asked, "Which ones specifically?"

Guo Zhiquan thought that what Guo Zhiliang said made sense. As long as an outsider like Luo Qihong was introduced, family members might be able to unite more and help resist other ambitious people. He would also have the energy to reorganize other family businesses.

If the family returns to its peak in the future, I can just spend a huge price to buy it back.

"Wing On Centre Building in Sheung Wan, Wing On Building in Central and Wing On Plaza in Tsim Sha Tsui East. If that still doesn't work, we can add the Fortuna Hotel in Tsim Sha Tsui." Guo Zhiliang spoke in a loud and decisive tone.

Guo Zhiquan's face was as gloomy as water. It would be a lie to say that he didn't feel distressed, but he knew that what Guo Zhiliang said made sense. If he wasn't tempted with huge profits, how could Luo Qihong be willing to join the game?

"You can talk to Luo Qihong, but don't set such high conditions all at once." Guo Zhiquan still agreed to this approach. He would not easily show up. "If Yongan Bank is beyond saving, we can give up control and become a small shareholder. We should try to preserve other family assets."

If he were to step in, there would be no room for improvement.

"Okay, then I'll go talk to Luo Qihong." Guo Zhiliang nodded.

Daoheng Group has held two negotiations with the Hong Kong government, but the Hong Kong government is not very satisfied with the conditions offered by Daoheng Group, believing that the price is too low. On the contrary, Dah Sing Bank's offer is good.

Guo Lingcan explained to the Hong Kong government the reason for the low bid. He also believed that Daoheng Group was more capable of running the Industrial and Commercial Bank of China well. Dah Sing Bank was just a snake swallowing an elephant and it would be difficult for it to achieve the Hong Kong government's goal.

But the real concern of the Hong Kong government is "money", "money", "money", rather than worrying about problems with ICBC. After all, ICBC is a well-run bank. As long as the person who takes over is not a fool, ICBC will not have any problems. Luo Qihong will naturally not intervene in these matters. As a business tycoon of his generation, Guo Lingcan has his own way of handling things, and he does not need to intervene.

Interfering too much will only cause conflicts between each other, but Luo Qihong still needs to know what he should know, otherwise who knows what the Guo brothers are up to and whether they will set a trap for him to jump into.

Hop Siang Trading Company Office

In order to better manage the company and save more of his energy, Luo Qihong hired two managers from Hengchangxing Enterprise Company at high salaries.

They are responsible for the company's administrative management and business reorganization, and the original four managers can concentrate on the trade business in various places. Of course, in order to appease the four managers, Luo Qihong also gave them the power to report to him individually.

He knew that this was taking back some of the power of the two vice presidents, but he thought it was necessary.

"Mr. Luo, this is the trade information of the Yingzhijie Group." Vice President Li Gukun handed over a thick document.

Luo Qihong flipped through it, and Li Gukun saw that he had almost finished reading it, so he began to introduce it, saying, "Since David Orr took over as the chairman of Inchcape Group, he has made a series of adjustments to Inchcape's previous operating weakness of 'no strategic goals'. In order to meet the strategic shift, he plans to sell some companies with low profits or losses, such as Tianxiang Department Store and Tianxiang Boutique."

"Inchcape Group will focus on three areas: automobile sales, market development and business services. The most important one is Tianxiang Foreign Trade Company, which is the trading business."

"The scale of Tianxiang Department Store is not large, but it is an expansion for Rocks Department Store. Which class is the target audience of Tianxiang's boutiques?" Luo Qihong said, flipping through the documents with his fingers.

"The lower and middle classes, and a small number of wealthy people." Li Gukun replied.

"The business being sold is a good supplement to Hexiang Trading, but these companies all have problems. How do you plan to solve these problems and increase profits?" Luo Qihong glanced at Li Gukun.

"I think the reason these companies have low profits and losses is that Inchcape Group has too many businesses and has no way to take care of these scattered businesses, thus failing to manage these companies effectively."

"If we take over, I will first conduct market research to understand customer needs and then make adjustments to the company. I don't believe there is a problem with the direction of the company itself."

“I can’t guarantee that these companies can make as much money as the trading business, but I can guarantee that they can turn losses into profits and double their profits.”

Li Gukun knew that this was his chance to gain a foothold and make achievements. If he missed it, he didn't know when the next chance would be.

Luo Qihong didn't care much about Li Gukun's guarantee. He was thinking about how to expand his interests and acquire more things that would be beneficial to him from the Innolux Group.

"Can we acquire the trading business of Inchcape Group in some regions?" Luo Qihong said with his fingers crossed.

"It's difficult, and there's little hope." Li Gukun explained, "The Pacific Ocean Company under the Inchcape Group will be responsible for the trade business in East Asia and Southeast Asian countries, with Hong Kong business being their focus, while Tianxiang Ocean Company will be responsible for business in other regions. Commercial services also include insurance, procurement, inspection and shipping, which are also their core businesses."

"Difficult practices have their own difficulties. The company needs to get more benefits, not the garbage in the hands of the other party." Luo Qihong was not satisfied with Li Gukun's explanation.

"Yes, I will definitely fight for the benefits of the company and I will make a new plan." Li Gukun said.

Luo Qihong nodded. "Inchcape Group and Swire Group are the two largest trading companies in Hong Kong. If we want to surpass them, we need to become stronger and make our goods more complete and cheaper."

"Yes!"

In fact, Luo Qihong was interested in the entire trading business of the Inchcape Group, not just its minor parts. However, the Inchcape Group had not yet reached the point where it had to be sold, and he had no way of asking Inchcape to sell it. He could only take the opportunity to ask for more assets and businesses.

You know, the annual turnover of Inchcape Group in trade exceeds 3 million US dollars, and the annual profit is as much as 1 million US dollars. It would be a great thing if it went into Luo Qihong's pocket.

Mid to late March
The share price of Nengda Technology Co., Ltd., which had been falling, suddenly jumped from 0.58 yuan to 0.74 yuan. Such a counter-market move naturally attracted the attention of many investors.

Experienced stock investors deeply suspect that someone wants to acquire Nengda Technology, but they are not too sure. However, they have obviously spent more time watching Nengda Technology.

At 3: p.m., Aimego announced the acquisition of Nengda Technology and hired Liang Botao as Aimego's consultant and spokesperson.

With such an "alerting the enemy", the Chuang's Group did not dare to underestimate Liu Luanxiong and responded hastily.

Hong Kong newspapers have reported on the affairs between Luo Qihong and Liu Luanxiong many times. Some magazines and newspapers directly stated that Luo Qihong was standing behind Liu Luanxiong, and Liu Luanxiong was Luo Qihong's representative standing in front of the stage.

Liu Luanxiong used Aigo to covet Nenta Technology. How could the Chuang's Group dare to bet whether what was written in the newspaper was a rumor?

Besides, the market value of Nengda Technology at this time is far lower than the actual asset value. The acquisition is extremely disadvantageous to the Chuang's Group. Once it loses Nengda Technology, it will lose tens of millions of undervalued assets.

When the acquisition was announced, shareholders immediately became interested as soon as they heard that Luo Qihong was behind the scenes, and began to frantically buy Nengda Technology shares. Those who held Nengda Technology shares stopped selling them.

For a time, the stock price of Nengda Technology Company skyrocketed, reaching 1.1 yuan per share at one point.

Liu Luanxiong announced that Aimego Company holds 27.3% of the shares of Nengda Technology, and aggressively proposed to convene a shareholders' meeting in the name of the major shareholder. Aimego Company will send 6 people to the board of directors.

Naturally, Nengda Technology Company expressed its disapproval and regarded Aigo as a scourge.

The top management of the Chong Hing Group held a meeting and concluded that the only good way to stop Evergrande was to buy out the 27.3% stake controlled by Evergrande at a high new price.

And this is exactly what Liu Luanxiong expected. He never thought about actually acquiring Nengda Technology, but wanted to make a profit and leave.

Although the acquisition of Nengda Technology has strengthened Aigo, it is not a good time to issue shares, so Aigo does not have much funds to carry out the planned 'sniping'.

(End of this chapter)