A century-old wealthy family that rose from Shanghai

In a hospital consultation room in Manhattan, New York, the air is thick with the mingled scents of disinfectant and anxiety.

Dr. Corey had just finished a consultation and was about to organize the medical records when he was blocked at the end of the corridor by a middle-aged man.

"Dr. Corey, please give me some more sildenafil citrate tablets!" The man, named George, was a diabetic with hypertension. His face was full of urgency, and his hands were tightly gripping the cuffs of Corey's white coat.

"Even just a few pieces would be fine, I really can't live without it!"

Corey frowned, pulled his clothes back, and said with a helpless tone, "George, the clinical data is very clear: this drug is ineffective against high blood pressure. Now, not only can we not give you any more, but we also have to take back all the remaining pills we gave you before—this is an experimental drug from a new pharmaceutical company, and it's no wonder that it can't compare to the research and development capabilities of large companies."

"No! Please!"

George's eyes suddenly reddened, and ignoring the stares of the patients around him, he pleaded, "You have no idea how I've lived these past ten years! My wife was flirting with the neighbors every day, and I could only pretend not to see it, just because... just because my body is so weak!"

Just as Corey was about to ask further questions, two more patients quickly surrounded him.

"Dr. Corey, I want sildenafil citrate too!" a middle-aged man wearing glasses said excitedly. "This medicine works so well, it gives me more 'energy' than any other blood pressure medication!"

"What are you talking about?" Corey asked, both angry and suspicious, raising his voice. "Why are only three of you in our group of 10 patients who participated in the trial 'effective'? And the instrument readings show that your blood pressure indicators haven't improved at all!"

"Who cares about blood pressure!" George finally roared, his voice filled with years of suppressed grievance. "This drug has made me a man again! Last night, my wife Jenna cried and begged me to stop, you know? I haven't felt this way in ten years... ten years!"

The bespectacled man blushed and added, "I used to last a maximum of 45 seconds, but now I can last 45 minutes! I've long forgotten about high blood pressure. Being a real man is more important than anything else!"

Corey was completely stunned, and the medical record in his hand fell to the ground with a "thud".

He muttered to himself, "This can't be... This is clearly an experimental drug for hypertension and cardiovascular diseases..."

"No, it's a miracle cure for men!" the three patients exclaimed in unison, their eyes filled with certainty.

The news spread like wildfire, quickly reaching Amgen's headquarters.

In Chief Engineer Tang Wensheng's office, after listening to his assistant's report, he suddenly stood up from his chair, feigning surprise: "What did you say? Sildenafil citrate has a significant effect on male function?"

“It’s absolutely true, Mr. Tang.” The assistant handed over the clinical feedback record. “Twelve patients who participated in the trial at the hospital have proactively asked the doctors for this drug, all of whom clearly stated that it can improve that aspect of their problems, and some are even willing to buy it at their own expense.”

"Great! This is a wonderful surprise!"

Tang Wensheng picked up the record, his fingers tracing the patients' testimonies, a knowing glint in his eyes—his father-in-law, Chen Guangliang, had hinted to him early on that a certain phosphodiesterase inhibitor might have an effect on the male reproductive system, but at the time, the team was focused on the cardiovascular field and hadn't investigated it further. Now, it seemed his father-in-law's foresight had proven true once again.

He immediately stood up and strode towards the president's office.

When he opened the door, his wife, Chen Leyi, was frowning at a financial report. As the founder and president of Amgen Biotech, the new pharmaceutical company, which was funded by the Chen family, had not yet produced a single product in more than two years since its establishment, and was under considerable financial pressure.

"Leyi, I have some amazing news!" Tang Wensheng placed the clinical feedback on the table, his voice brimming with excitement. "Sildenafil citrate is ineffective for hypertension, but we've unexpectedly discovered it has a remarkable effect on male erectile dysfunction! Patients at the hospital are going crazy for it!"

Chen Leyi looked up, first surprised, then her gaze sharpened: "Is it really that effective?" She glanced at Tang Wensheng, then suddenly smiled, "Why don't you give it a try? It would put my mind at ease."

Tang blushed upon hearing this and quickly waved his hand, "I don't have that problem! But the patients' feedback is genuine. Think about it, how many men worldwide suffer from this kind of problem? The market size is probably even larger than that of cardiovascular drugs! As long as we can obtain the patent and production license, Amgen Biotech might be able to directly join the ranks of top-tier pharmaceutical companies in the United States!"

Chen Leyi put down the financial report, tapped her fingertips lightly on the table, and her expression gradually became serious: "The direction can be adjusted, but we must be extremely cautious."

She looked at Tang Wensheng and said solemnly, "The key test is the long-term safety of the drug—will there be any side effects? Will it cause dependence? These are critical questions. If anything goes wrong, let alone becoming a top-tier pharmaceutical company, we may go bankrupt and even face legal liability."

"I see."

Tang Wensheng nodded, suppressing his excitement. "I've already made the arrangements. The trial will be conducted in three phases: first, we'll expand the sample size to verify the generalizability of the effect; then, we'll conduct a two-year long-term follow-up to observe side effects; and finally, we'll collaborate with urology experts to develop precise dosage standards. We aim to complete all the procedures within three years and obtain FDA (Food and Drug Administration) approval."

Chen Leyi nodded in satisfaction: "Remember, we are a pharmaceutical company, not speculators. No matter how tempting the market is, we must adhere to the bottom line of 'safety'."

She stood up, walked to the floor-to-ceiling window, and looked at the Manhattan skyline in the distance. "This drug may be a turning point for Amgen, but it could also be a trap. We have to take every step carefully."

Tang Wensheng walked to her side and took her hand: "Don't worry, I won't let you and your father down."

Outside the office, sunlight streamed through the glass and shone on the Amgen Biopharmaceutical logo.

No one knew that this "failed drug," initially targeting the cardiovascular market, was about to unleash a storm in the global pharmaceutical industry, and Amgen Biotech would use this opportunity to rise from an unknown new company to the center of the world pharmaceutical stage.

Chen Wenhua, in his capacity as CEO of United Madison, led a group of people to Taiyang Company.

Warren, the president of Taiyang Corporation, waited with his entourage and stepped forward, saying, "Mr. Blues, welcome to Taiyang Corporation!"

Chen Wenhua reached out and shook Warren's hand, patted him on the shoulder, and said, "Warren, I rushed here as soon as I heard the good news. I hope it really is good news!"

"Of course, at the very least, I'll meet all your requirements!"

"it is good"

Warren also had great respect for this boss.

In 1966, it spent US$2.2 million to acquire a 46% stake in United Madison, and later used United Madison to acquire a life insurance company and Taiyang Corporation. Crucially, United Madison invested a significant amount of capital in the stock market and then withdrew from it earlier this year, thus increasing the assets of this small insurance company by approximately five times. Soon, Chen Wenhua received a stack of yellow sticky notes; he tore off the first one and quickly stuck it back on.

"It can definitely be reused! We spent a year developing and experimenting with this glue alone."

Chen Wenhua nodded and said, "The glue is the key ingredient."

Then he took out a pen from his pocket and wrote on it: “A billion-dollar market”, then found a book and stuck the label on it.

Warren and others were taken aback by this 'billion-dollar' market.

A moment later, Warren tentatively asked, "Shouldn't we be launching the product now? We've already got the patents!"

Chen Wenhua said with satisfaction, "Next, you should produce a batch and mail it to the secretariats of various companies in New York for them to use free of charge. At the same time, you should also take out loans to expand the scale of production."

"Free to use?" Warren's eyes lit up, and he said, "Yes, secretaries are the people who need sticky notes the most; they are the best ambassadors."

Chen Wenhua said confidently, "No, secretaries are just one of them. Whether they are students, avid readers, white-collar workers in office buildings, or high-ranking bosses, they are all our customers. This sticky note will create a huge market. I have already asked the company's legal department, finance department, and other departments to strengthen their support for this product."

"Yes, Mr. Bruce!"

Chen Wenhua has always used his English name, only using his Chinese name in front of family and Chinese people. This was also his father's wish—to integrate into the local community and not to be someone who is inconsistent in word and deed.

In early November, newspapers first reported that Li Fuzhao, Wang Qiming, and others had registered with the government on October 31, 1969, in accordance with the Company Law to establish another brand-new stock exchange—the Far East Stock Exchange.

The news sent shockwaves through society, and stockbrokers were even more nervous, fearing that the new exchange would affect their business.

After the news broke, reporters acted swiftly and immediately sought confirmation from Li Fuzhao, the person in question.

李氏如此说：“香港上市公司的数目，一直都维持在68家左右，但工厂的数目已由1947年的3000家上升至1969年的15300家，至于进出口金额更由1947年的125600万元攀升至1968年的1042800万元……上市公司的数目，明显不能反映香港经济整体力量的增长。

Although Li Fuzhao did not directly answer the reporter's questions, the data he cited clearly illustrated the fact that the stock market at the time had failed to keep pace with social and economic development. In other words, the establishment of a new stock exchange was not only an inevitable trend but also a manifestation of strong economic and social needs.

Regarding the proposed Far East Stock Exchange, the South China Morning Post interviewed several brokers and businesspeople to understand their views on the new exchange. According to the newspaper report, most respondents held a rather conservative attitude.

One interviewee, who declined to be identified, pointed out that the stock market is full of uncertainties, and people should not hastily establish an exchange just because the stock market is booming at the time. They should think about how to maintain it when the stock market is quiet.

Some pointed out directly that there was no need for a new exchange at the time, and that if a new exchange could not attract new funds and new investors, it would only have a negative impact on the market.

Some respondents also questioned the motives of those who spearheaded the establishment of new exchanges, believing that they were only acting in their own self-interest and had not considered the actual social situation.

No. 1 Garden Road, Ping An Bank Building.

Chen Guangliang smiled as he looked at the numerous news articles in the newspaper. He naturally welcomed the establishment of the new securities exchange, since making money in the stock market was also one of his methods.

He's not good at stock trading, but he probably understands historical trends!
The general trend is not easily changed by anyone.

For example, the bull market and stock market crash in Hong Kong in the early 1970s were both part of a larger trend. The bull market was due to the establishment of numerous stock exchanges, the rapid development of Hong Kong's economy, and the influx of Southeast Asian capital into Hong Kong following the "May 2018 Southeast Asian events." The crash, on the other hand, was purely caused by excessive speculation after stocks had been driven up, and it wasn't particularly related to any fake stocks; those fake stocks were merely the trigger.

"Dad, here are the detailed investment information for Ping An Investment that you requested!"

27-year-old Chen Wensheng walked into his father's office and handed him a thick stack of documents.

Instead of looking at the documents first, Chen Guangliang pointed to the news in the newspaper and asked, "What do you think about this?"

After glancing at the newspaper headline announcing the imminent opening of the Far East Stock Exchange, Chen Wensheng immediately remarked, "I believe the advantages outweigh the disadvantages. Hong Kong's economy is developing rapidly, but its securities market is lagging behind. The emergence of a new exchange will be a positive development and reform for the securities market. Of course, there are also drawbacks, such as potential problems with the management and regulation of the two stock exchanges; moreover, if the Far East Stock Exchange can be established, then can other stock exchanges also be established?"

After all, he had studied abroad and came from a prominent family.

Chen Guangliang smiled and said, "Yes, I'm glad you can think independently. As for your concerns, that's just paying tuition. As for Ping An Bank's investment in securities, we must adhere to value investing principles and have a long-term positive outlook on Hong Kong's development."

“Okay, I understand. By the way, Dad, I’m going to the Far East Stock Exchange to try and get a brokerage seat for us.”

"Can"

After Chen Wensheng left, Chen Guangliang looked at the thick stack of documents in his hand.

Ping An Investment is the investment banking business of Ping An Financial Group, which includes securities investment and brokerage, real estate trusts, overseas investment, financial services, and more.

In the investment field, one important aspect is the investment of 5-10% equity in more than 30 listed companies in Hong Kong, all based on the value investing philosophy; at the same time, the real estate trust also has some factory buildings and office buildings, but the scale is no longer large, as a significant portion has been acquired by its sister companies.

Regarding overseas investments, the US stock market positions have been closed out, and in reality, there weren't many; there were also some investments in the Japanese and British stock markets, etc.; the overall scale was not large, just for show.

At this time, Ping An Financial Group had handed over its commercial banking business to professional managers, and Chen Guangliang would not interfere too much. Even the loan business of Cheung Kong Holdings and Global Group required strict collateral, although these two companies were themselves high-quality enterprises.

After reviewing the materials, Chen Guangliang had already formulated some strategies for Ping An Investment, such as strengthening bottom-fishing investments in US stocks next year, given Hong Kong's small size and the need to increase the proportion of overseas investments, etc. (End of Chapter)