A century-old wealthy family that rose from Shanghai

Chen Wenkai is in the Midea Building laboratory in Kwun Tong, discussing with the 'cassette tape recorder' R&D team.

Since Philips of the Netherlands invented the audio cassette tape recorder in 1963, Midea Electric Appliances has actively participated in the research and development of this field, preparing to produce 'cassette tape recorders' in Hong Kong.

Give it a try

"it is good"

As the cassette tape was inserted into the recorder, pre-recorded audio began to play. This black cassette tape recorder was shaped like a square box and even had a carrying handle.

During this period, cassette tape recorders were not used as mainstream music players, but rather for recording, and were more commonly used by journalists.

"The 45-minute stereo music performance has ended!"

As the tape ran out, Chen Wenkai smiled. Although there hadn't been any major breakthroughs in this product, at least Midea Appliances could now produce it.

"Using metallic magnetic powder, the frequency response reaches 20kHz, which is fantastic!"

Tao Yun, the head of Midea Electric Appliances, immediately said, "President Chen, should we officially start production?"

Today, Midea exports up to 100 million radios to Europe and America every year, but these are mostly assembled. In addition, its products include telephones, electric fans, etc., and it has accumulated some patents and technologies for telephones.

The product in which the greatest research and development efforts were truly invested was, of course, this cassette tape recorder.

Chen Wenkai said, "We are working on production and aiming to launch the product by early next year. This will be the first step for Midea Electric Appliances in launching its technological products. Of course, we still need to continue to work on improving the high-fidelity performance of cassette tape recorders."

"it is good"

As soon as he stepped out of the Midea Building, Chen Wenkai's bodyguards gave him tight protection. Hong Kong is currently fraught with crisis. Although Cheung Kong Industrial Group implemented a series of measures at the beginning of the year, significantly improving worker welfare, even with some instigation, it didn't cause much of a stir, and all factories continued normal production every day. However, the perilous external environment still made Chen Wenkai's bodyguards feel extremely vigilant.

“My father told us that this is an inevitable historical process, but as long as we firmly believe that Hong Kong has a bright future, what we are facing now is not a difficulty, but an ordinary event!”

Thinking of this, Chen Wenkai smiled, then got into the car and headed towards the next factory.

Recently, the Yangtze River Industrial Group has been receiving a series of good news. Huatai Group's motor company has made significant progress in high-performance motors. Chen Wenkai understands that this is the result of his father's long-term support and investment in research and development.

As early as the early to mid-1950s, Huatai Toys began producing toy trains and also established 'Huatai Motors' to specialize in the research and development and production of small motors.

After years of accumulation, this motor company has gradually achieved world-class technological level, and its upcoming breakthrough in 'high-performance motors' is the best proof of that.

High-performance motors can be used not only in toys, but also in household appliances, power tools, and more.

"It's time to suggest to my father that we invest further in the research and development of yacht engines and fiberglass technology!" At this time, Chen Wenkai was also very enthusiastic about investing in the technology industry.

With the sponsorship of the Chan family, the Hong Kong Polytechnic University had begun to cultivate various talents for Hong Kong. Furthermore, at that time, real estate speculation in Hong Kong was not so heated, and industry remained a socially recognized pillar industry, ranking ahead of real estate.

Villa No. 79, Deep Water Bay.

The Chen family of five, the Chen family of four, the Chen family of four, the Chen family of four, the Chen family of four, the Chen family of two ...

Chen Wenjie and Zhuang Yuanzhen have two sons and one daughter, with the daughter being the second child.
Chen Wenming and An Shuhui have two sons;
Chen Wenkai and Fang Yi are a married couple with a daughter and a son, the daughter being the eldest.

Chen Wensheng and Lin Meiyue had just gotten married, and Lin Meiyue was already pregnant.

That evening, Chen Guangliang, Yan Renmei, Jiang Meiying, and others were not in Hong Kong, and Yang Hui had long since stopped caring about these matters and was content to retire. Therefore, the eldest son, Chen Wenjie, presided over the family meeting.

"Given the current unrest in Hong Kong, I hope that some of the women and children from both families can go to Singapore for a while this summer. But not all of them can go to Singapore. I don't need to explain why; you should understand."

Apart from Hong Kong, the entire first wife's family never gathers together overseas; this is a tradition.

Of course, there are no such rules for second, third, or fourth wives.

Chen Wensheng immediately said, "Meiyue is pregnant. I think it's fine for her to have the baby in the villa in Shek O. I don't want to go through any trouble."

Chen Wenjie nodded without saying anything.
Chen Wenkai immediately said, "I think Hong Kong is fine, there's no need to go to Singapore. Besides, we live on the Peak, which is quite safe, so we're not going to Singapore."

Chen Wenjie nodded, listening attentively to his younger brothers' opinions and refusing to be the eldest brother who dictates everything.

Chen Wenming immediately said, "The eldest brother just happened to be in Singapore to inspect the project, so he brought his wife and three nephews with him. I will take Shuhui and the others to Singapore later."

Chen Wenjie then said, "You take your sister-in-law and three nephews first. I'll take my sister-in-law and two nephews over later. Everything has been arranged there. I probably won't be back until the end of December at the latest."

"My elder brother is much more thoughtful."

There are some things that can't be said directly, but the brothers all know that this is a style passed down from their father, who has always been cautious.

Chen Wenjie then said, "In short, the four of us brothers will continue to work as before. Father said that this matter will pass this year and it's not that terrible."

"Okay, big brother."

In reality, Zhuang Yuanzhen is bringing her three children and An Shuhui is bringing her two children; they will be living in Singapore for a period of time.

Of the four brothers from the first wife's family, Chan Man-ming is often not in Hong Kong but travels all over the world; Chan Man-kit travels to Singapore every month on business; Chan Man-kai also occasionally goes abroad for inspections; and Chan Man-sing is basically in Hong Kong.

A fraternity meeting quickly concluded, and mobilization commenced immediately.

Lane Crawford Plaza, Orchard Road, Singapore.

This plaza, a comprehensive department store plaza, was first built in the early 1960s and opened for business in 1965. The main buildings consist of two structures: a department store and an office building. The department store has seven floors, while the office building has a total of thirty-two floors.

The Chan family had long owned 500,000 to 600,000 square feet of land on Orchard Road, but in the late 1950s, they did not choose to invest in the first department store. The first department store on Orchard Road was Tung's Department Store, which opened in 1958.

However, with the opening of Lane Crawford Plaza, it established itself as a high-end commercial center in Singapore and became very popular.

When Chen Wenjie arrived in Singapore, he first inspected the construction site of the Shangri-La Hotel, and then visited a luxury restaurant on the sixth floor of Lane Crawford department store.

Zhuang Yuanzhen, along with her three children and her brother Zhuang Yuanrui's family of four, were already waiting for him in the private room.

Zhuang Yuanrui left Hong Kong and came to Singapore to develop his career. He only occasionally returned to Hong Kong to visit Zhuang Zhujiu and his wife, Sheng Aiyi.

After sitting down, Chen Wenjie looked at his brother-in-law Zhuang Yuanrui and said, "How about it? Do you want to go back to Times Films? It's originally a business owned by both of our families. If you stay in Singapore, your career will always be small-scale. Times Films is different. It has now developed into a large real estate company and film company, where you can better showcase your talents!"

"Brother-in-law" Chong Yuen-shui said, "How much talent do I have? I only have a superficial understanding of real estate, and I know nothing about film companies. What would I do if I went back to Hong Kong?"

"Are you kidding me? Your father is the general manager of TVB, and your mother is the general manager of Times Pictures. You could choose either company. Back then, you were young, and we wanted to give you some training, but you ran off to Singapore. Now your parents are getting older, and these two businesses will need a successor sooner or later. How will you know if you can do it if you don't give it a try?"

Zhuang Yuanrui was somewhat tempted—his brother-in-law was the eldest son of the Chen family, and his support meant the Chen family's support. However, he quickly hesitated again, after all, he had had a small argument with his parents and had agreed to start his own business.

"Forget it! There are suitable professional managers at Times Films. My mother said that she delegates a lot of her work to Raymond Chow and his group. In addition, my father can also manage Times Films. As for TVB, it is mainly owned by the Li family, with my father playing a supporting role. They don't need me there. Now I'm doing real estate business in Singapore. Although it's not large, it's stable. My parents are very supportive of what I want to do."

Seeing this, Chen Wenjie said with some regret, "Times Pictures is doing so well, it's a pity that none of our younger generation have joined. But since you don't want to go back to Hong Kong, then develop your career well in Singapore!"

The Chen family is not keen to get involved with TVB, as it is too much of a target; as for Era Films, they only hold shares, and the chairman of the board has long been handed over to Zhuang Zhujiu.

The reason Chen Wenjie brought up the old matter again today is because his parents-in-law are almost seventy years old (68 and 67), and it's always good to consider such things sooner rather than later.

Back in the villa in Singapore, where the Chen Wenjie family and the Chen Wenming family lived, it was mainly the female relatives who lived there with their children for a period of time.

Chen Wenming has already left, and now is the busy time for global shipping. Chen Wenjie is also leaving, as he mainly works in Hong Kong.

At the beginning of September, Hong Kong remained in turmoil, with both real and fake bombs causing widespread panic.

Property prices have plummeted, prompting wealthy individuals to rush to sell their properties in preparation for relocation overseas. Canada is the top choice, followed by the United States and Australia.

Chen Wenjie convened a real estate meeting for CK Asset Holdings Limited.

Now that Chen Guangliang is no longer in Hong Kong, Yan Kuan is semi-retired, and 34-year-old Chen Wenjie has begun to take on the role of 'general manager'.

At the meeting, Chan Man-kit said, “Hong Kong’s real estate market has been declining since the ‘bank run’ in 1965. It has already hit rock bottom. A luxury residence that was originally worth HK$200,000 can now be bought for HK$60,000 or HK$70,000, or even no one is interested in it. Everyone is feeling anxious, but for Cheung Kong Holdings, it is an opportunity to purchase raw materials for the real estate market.”

Many high-ranking officials found it hard to believe when they heard such words.

Lu Xiaoqing, head of real estate business, tentatively asked, "I'm worried that the mainland government continues to affect Hong Kong, and the situation outside is also a concern. This wave of real estate downturn has lasted for almost three years, and the duration is unknown."

It's normal to have such questions, but Chen Wenjie could only explain: "The roots of Cheung Kong Group are in Hong Kong, so naturally we will not give up the development in Hong Kong. In any case, real estate raw materials are cheap now, so we must purchase a certain amount of land as reserves."

Lu Xiaoqing guessed that this was unlikely to be Chen Wenjie's idea, but probably the boss's, and immediately said, "Okay, we will look for cheap, high-quality land on the market."

Chen Wenjie said, "Go ahead and do it with confidence. Also, some members of the company's management are feeling uneasy, so everyone needs to work on calming them down. If we move overseas now, the wealth we've worked so hard to accumulate will be halved, which is not a wise move. Finally, in my personal opinion, the other side also doesn't want Hong Kong to be in chaos, after all, Hong Kong serves as a bridge between East and West."

This statement immediately made everyone guess that it was probably the boss, Chen Guangliang's, idea, and everyone felt relieved.

As senior executives in the real estate business, they naturally understand that the company is buying up properties at rock-bottom prices, so why wouldn't they purchase some properties as an investment?
Shortly after the meeting ended, Chen Wenjie's uncle, Yan Zuhe, found him.

"Wenjie, where did your parents go?"

Chen Wenjie poured his uncle a cup of tea and said with a smile, "You must be traveling in Europe. Is there something you need, Uncle?"

Yan Zuhe said, "The situation in Hong Kong is a bit chaotic, and the old man is very worried. He asked me to find out some information."

Whenever Yan Zhiduo thinks back to how the Yan family might have fallen into decline long ago if his son-in-law hadn't persuaded him to come to Hong Kong, he worries that the Yan family might have made the wrong choice. Now that Hong Kong is in turmoil, he also worries that the Yan family may have made the wrong choice.

Chen Wenjie said with a smile, "I visited my grandfather last week, but he didn't mention it. Since my uncle is here today, I'll give you a definite answer: your Cafe de Coral fast food chain should take this opportunity to buy up shops as an investment. Once this wave passes, these investments will bring Cafe de Coral a pleasant surprise in return."

Today, Cafe de Coral has 15 stores in Hong Kong, making it a medium-sized enterprise in Hong Kong's catering industry, and Yim Cho-wo has naturally devoted himself to this business.

His eyes lit up, and he said, "Okay, even without your father's guidance, your guidance will be just as effective."

"I wouldn't dare to give you any pointers, Uncle. This is just another move by Cheung Kong Holdings."

Yan Zuhe smiled and said, "Yes, I understand."

He had made up his mind and, upon returning, began to purchase shops and other properties on a large scale. Over the years, Cafe de Coral had accumulated some cash flow.

Chen Wenjie said, "Dajiale doesn't have much capital, so we naturally need to make more use of loans. Uncle, go to Ping An Bank. Given Dajiale's situation, we can apply for a higher loan."

Yan Zuhe was overjoyed and immediately said, "Okay, I'll make the contact as soon as possible."

Watching Yan Zuhe's departing figure, Chen Wenjie smiled. His mother had sacrificed so much for the family, and both his father and his brothers were willing to see their uncle achieve something.

Moreover, Cheung Kong Holdings owns 50% of Cafe de Coral fast food. (End of Chapter)