A century-old wealthy family that rose from Shanghai

On Monday, April 9, the Ping An Index finally fell below the psychological threshold of 1200 points, closing at 1152.50 points, turning the atmosphere from pessimism to fear.

In fact, the Hang Seng Index has fallen by more than 1000 points in just 30 days, a drop of nearly 50%. The speed and magnitude of the decline are truly alarming.

As Chen Guangliang walked into the Cheung Kong Group's office building, he received countless grateful glances from employees as he passed through the office area.

"Chen Shengzao"

"Chen Sheng"

"morning"

Everyone was in good spirits and it seemed that most of them had complied—they cashed out at the peak of the stock market, which did not affect their work.

"Good morning," Chen Guangliang nodded and walked towards his office.

Actually, it's not even considered early. He now arrives at the office building at nine o'clock every day, which is half an hour later than before. Of course, even when he gets to the office building, very few people will report to him directly unless he takes the initiative to call someone in to ask questions.

Currently, Chen Wenjie is the General Manager of Cheung Kong Holdings and has matured; Chen Wenming also officially became the General Manager of Global Group this year, and Chen Guangliang and Chen Guangcong will continue to supervise him; Chen Wenkai has begun to act as the General Manager of Cheung Kong Industrial Group and, with the help of Chen Guangliang, has begun to take control of Cheung Kong Industrial Group; Chen Wensheng has begun to act as the General Manager of Ping An Investment and also serves as the Deputy General Manager of Ping An Financial Group.

With his four sons having essentially taken over the reins, Chen Guangliang has begun to step back from the limelight.

“Dad, Cheung Kong Holdings’ cash flow has reached HK$8.2 million, while its debt is HK$2.6 million. We have basically stopped new development projects, and the only projects we can get are some scattered properties. So, I want to start the shopping mall project on Orchard Road in Singapore.” Chen Wenjie came to the office to discuss with his father.

As long as his father is alive, he will discuss these matters with him, unless his father no longer wants to deal with them.

Chen Guangliang thought for a moment and then said, "Yes. We currently have four large sites in Singapore. The Shangri-La Hotel and Lane Crawford Department Store have been operating for many years, and the third site is indeed due for construction. This shopping mall should emphasize modernity."

Chen Wenjie nodded and said, "Our idea is to build a large shopping mall, an office building, and a hotel on this 100,000 square foot plot of land. The entire project will be completed before the 1980s."

Chen Guangliang said, "Now computerization and integrated circuits are also affecting buildings. Things like water, electricity and ventilation can all be controlled by computers. We will use this project for many years, so we need to consider the long term in all aspects. Lane Crawford, on the other hand, may have to be demolished and rebuilt in another twenty years."

There is also a site of just over 100,000 square feet, which will also be used to build a shopping center by the mid-1980s.

"By the way, Father, is it the right time for Shangri-La Hotels to expand into Japan?"

In Chen Wenjie's view, since investments on the island have been made cautiously, it's necessary to invest overseas. Shangri-La Hotels are gradually expanding overseas, and Cheung Kong Holdings has just the right amount of cash flow.

Chen Guangliang smiled and said, "No rush. There's going to be a war in the Middle East. This time, oil will probably become a bargaining chip in the war. And the world's dependence on oil is not what it used to be. So the whole world's economy is unstable."

Chen Wenjie was surprised, then quickly said, "I understand."

In the event of an oil crisis, countries like Japan would inevitably suffer a major economic blow.

Cheung Kong Holdings owns three properties in Ginza, Japan, each about ten stories high, which are primarily used for rental. These properties are quite valuable, so Cheung Kong Holdings' market capitalization has consistently been far below its net asset value. Even this time, its highest market capitalization was only 40 billion, still lower than its asset value.

Cheung Kong Holdings' profit last year reached HK$2.3 million, with overseas business and integrated projects contributing more than half.

"Ah Bo, did you really cash out?" Tan Guoshi, a white-collar worker at Cheung Kong Holdings, asked his colleague with mixed feelings.

Tang Shunbo said smugly, "At the beginning of March, I was all set. After two years of stock trading, I've earned enough to buy half a house. I should really thank Mr. Chen. If it weren't for him, I'd probably have lost more than half of my profits by now."

He entered the market in 1971 and gradually increased his holdings. At his peak, he held securities worth over 20 yuan. After receiving advice from Mr. Chen, he decisively cashed out and left the market.

Seeing the miserable situation of those stock market investors, he realized how lucky he was.

Tan Guoshi said jealously, "I'm in a terrible situation. I left late, and not only did I not make any money, I even lost tens of thousands. Do you think the stock market will rebound now?"

Tang Shunbo looked at his colleague and said in surprise, "Are you alright? The market is already in a state of panic, and you're still rebounding? You're hopeless. If you had listened to Chen Sheng back then, you could have made tens of thousands in profit."

"Forget it, I'm not talking to you anymore!"

Tang Shunbo shook his head. As far as he knew, the vast majority of his colleagues had profited and exited the market at its peak. Just a few days after cashing out, the fake stock incident occurred, followed by a month-long crash. Therefore, everyone was very grateful to the company and was already fully committed to their work.

Of course, a very small number of people didn't believe it and thought that the company was just considering the work situation and was deliberately saying that; the result was predictable, the company dropped by 50% in a month, a speed that caught everyone off guard.

The key issue now is that some people are still unwilling to accept this and believe that a rebound is possible.

Lane Crawford Building, Queen's Road Central.

The administrative headquarters of Changjiang Industrial Group is located here, occupying two floors of office space. Of course, for Changjiang Industrial Group, which has 50,000 employees, two floors of office space are indeed insignificant. However, in reality, Changjiang Industrial Group is divided into four major groups: Xinfeng, Rongchang, Huatai, and Midea. These four groups have their own administrative areas and production areas/buildings.
"Dad," Chen Wenkai greeted respectfully as he entered his father's office.

Chen Guangliang raised his head and said, "Sit down and talk."

The two then sat down one-on-one at the conference table in the office, with a clear view of the bustling Queen's Road outside the window, where pedestrians hurried by.

Chen Wenkai remarked with emotion, "This stock market crash has ruined countless people, and even led to many suicides! Finance is far less reassuring than real industry."

Chen Guangliang turned around and laughed, "Gamblers don't deserve sympathy, so whether they go bankrupt or jump off buildings, it's just a social phenomenon, not something we should worry about. As for your point about finance not being able to keep up with the real economy, that's not entirely true; finance also promotes the development of the real economy. Okay, let's not talk about that anymore. Let's talk about how the Yangtze River Industrial Group is also facing trouble now!"

Chen Wenkai was taken aback and said, "No, right? Our industries are currently developing in parallel and in a diversified manner, even including high technology and intellectual property. What trouble is Father referring to?"

Chen Guangliang said, "There might be war in the Middle East in the next year or two, and this time oil will be the bargaining chip. Have you ever thought about it? Since oil was discovered, it has been controlled by Britain and the United States. The Seven Sisters oil companies control the world's oil, but the price of oil is less than $3. But how important is oil to the world economy?"

Chen Wenkai immediately said, "The importance of oil to the world economy is no less than the hegemony of the US dollar in the world."

He suddenly realized something and added, "Does Father mean that oil prices will go up?"

Chen Guangliang nodded and said, "It's not just a matter of price increases. If war breaks out in the Middle East, the Arab world will definitely unite this time and use oil to support Egypt. If I were the leader of the Arab world, I should raise oil prices to $13 and impose an embargo for a period of time to see if the United States would continue to support Israel."

Chen Wenkai knew that his father always relied on his foresight and judgment as his winning formula, and his children were used to listening to his father's predictive methods.

He immediately said, "I understand what Father means. Many of the raw materials for Yangtze River Industries come from oil. Next, we need to stockpile raw materials."

Chen Guangliang nodded and said, "Yes, starting in June or July, we need to stockpile more raw materials, taking into account preservation to avoid waste." "Okay."

Then, Chen Guangliang took out a document from the safe and said, "Give this to the comic book publisher as their opening masterpiece for next year."

Chen Wenkai flipped through it and found it was the outline and concept of a manga called "Mobile Suit Gundam".

After a quick glance, he said, "At the end of last year, we stopped production of our Diakron and Microman transformable robots and are now specializing in manufacturing Transformers. This 'Mobile Suit Gundam' does have a similar style to Transformers."

Chen Guangliang nodded and said, "In short, you must remember that Cheung Kong Industrial Group ultimately only has two permanent magic weapons: technology and intellectual property (IP). Industries such as textiles and garments, steelmaking machinery, toy manufacturing, and electrical and electronic products will be relocated to the mainland for development once the mainland opens up. As for Hong Kong, we will only focus on technology research and development and IP. This includes video games and software, which fall under the IP category."

Chen Wenkai seemed to see the major trends of the next few decades. This was the sense of security and confidence his father gave him. He said earnestly, "Yes, I remember!"

Shangri-La Hotel, June.

In the hotel lobby, many elderly people over 60 years old came, many of them couples, totaling nearly a thousand people.

Everyone was eagerly waiting, or chatting and laughing in twos and threes, and some even huddled together, reminiscing about the past.

A moment later, Chen Guangliang walked in with Yan Renmei, and everyone's eyes immediately lit up with excitement.

Mr. Chen and Mrs. Chen

Everyone was excited and somewhat surprised, thinking that after so many years, their boss and wife still looked so young, they really took good care of themselves.

Seeing these 'old buddies,' Chen Guangliang, who was usually quite composed, was also quite excited at this moment.

"Tongzhao, you're getting old!"

Wang Tongzhao was the marketing manager of Vitasoy when it started in Shanghai. He is now in his seventies or eighties, but he is in good spirits and looks like a wealthy old man from Hong Kong.

He excitedly grasped Chen Guangliang's hand: "Boss, I'm really getting old. If you don't call me soon, I'll..."

Chen Guangliang held his hand in one hand and put his arm around his shoulder with the other, saying, "You look to be in good health, you can live for another twenty or thirty years! Are you having any difficulties in life?"

Wang Tongzhao said happily, "No problem! We are all your soldiers, boss. We came to Hong Kong to enjoy the good life with you. I still receive a monthly pension from Vitasoy, and it increases every year!"

Every company Chen Guangliang founded has stated from its inception that it will provide employees with a pension after retirement. This involves employees contributing a portion each month, with the company contributing the majority, creating a 'pension system'. Even after Vitasoy went public, this pension system remains integrated into the group and is distributed normally to all employees.

If these people hadn't followed him to Hong Kong back then, the Chan family wouldn't have been able to establish itself so quickly. Everyone in Hong Kong at the time knew that the Chan family brought thousands of people (including family members) to Hong Kong, which was quite a large scale.

"Good, good. You own several properties. Are your children up to par?"

Wang Tongzhao said with a smile, "I have two sets of apartments, one for each of my children. My children are all doing very well. One son works at Vitasoy and is stationed in Singapore as a manager; another daughter is a junior manager at Huatai Company, which is also very good."

Chen Guangliang likes to use the descendants of his "old ministers"—he calls it succession. Of course, his business is vast, and he also has many new talents joining him.

"it is good"

Next, Chen Guangliang and Yan Renmei greeted everyone one by one. The banquet started at 10:00 AM and lasted until 9:00 PM. The hotel prepared two main meals for everyone, and then provided tea, snacks, playing cards, mahjong, etc. during breaks.

Those who came to Hong Kong with Chen Guangliang and his wife back then included not only management but also long-term employees. For example, Ping An Bank completely withdrew, except for a few who were unwilling to leave their hometowns and refused to come despite persuasion. Therefore, when Ping An Bank withdrew, the bank employees who were unwilling to leave stayed in the Ping An Bank Building to wait for the handover of the new government, and did not even think about leaving behind any private property.

“Mr. Chen, Mrs. Chen. I never dreamed that pulling a rickshaw in Shanghai would lead to such good fortune. I’ve truly met a benefactor like you!”

"Fugui, your name is Fugui, so you are indeed rich and noble!"

Those around him laughed. Wang Fugui was from Fanguangong. He joined Changjiang Automotive Company at the age of 18 and was promoted to a junior management position. He then joined a security company, which was quite an achievement. Later, he came to Hong Kong and worked in logistics at Changjiang Industrial Group, eventually retiring as a logistics manager.

"I'm rich! I have two houses, my children have houses too, and I even have a car!"

Everyone smiled at them.

Anyone who comes to Hong Kong with the boss will inevitably have food. Every time Cheung Kong sells a property, they will receive internal flyers offering discounts of 5% or 10%. Their superiors will even persuade them, saying that Mr. Chan hopes everyone can live and work in peace and contentment.

At first, some people didn't understand and wondered if the boss couldn't sell his houses. But after a few years, they realized that the boss genuinely cared about their well-being.

Of course, most of those who came to Hong Kong could start with an income of HK$150, which is about the same as the regular income of Hong Kong police officers; naturally, many of them were managers and technicians.

"Mr. Tong, how are you feeling?"

Tong Runfu said with a smile, "I'm in great shape. I'm looking forward to going back to Shanghai Beach with you, Mr. Chen!"

Upon hearing this, those around him were surprised, and someone replied, "Can you really go back to Shanghai in this lifetime?"

Chen Guangliang laughed and said, "Before the 1970s, could we have imagined that relations between the United States and China would improve? So, the situation will not remain unchanged. In less than ten years, we will be able to go back to our hometown. When that time comes, please don't forget our poor relatives!"

"I can't forget it. I have younger siblings in mainland China; I wonder if they're still alive."

Many people felt better after hearing this, saying that they wanted to live to be a hundred years old and return to the mainland no matter what.

In reality, many people's parents may still be alive, though this is probably a very small minority.

Although everyone is in their sixties, seventies, or eighties, they are all in excellent spirits. Some of them are not in good health, but today is a "last gasp of life." We chatted about the past and our current situations, and the whole hotel was filled with memories and sweetness.

Yan Renmei, by her husband's side, would occasionally chat with his family members. She could sense that her husband had changed the fate of so many people.

That day was one of the "highlight moments" in Chen Guangliang's life. Back then, he wanted to take all the old ministers who had followed him with him, whether they were management or employees, because he had the ability at the time, and these people had contributed to his career and could continue to contribute to him in Hong Kong, so it was a two-way trip.

Of course, a few elderly people complained to Chen Guangliang about their children's lack of ambition. Chen Guangliang immediately instructed his assistant to arrange solutions without hesitation. If they had financial difficulties, he would provide some money to help them; if they couldn't find work, he would arrange jobs for them, ensuring their old age was secure. (End of Chapter)