Rebirth in Hong Kong: From Dessert Shop to Industrial Empire.

Chapter 241 Patience 6K (Seeking monthly votes, recommendations, and subscriptions!)

On the other side, Bao Yugang called out to Chen Bingwen, who was about to walk towards his car.

"Mr. Chen, why don't you ride back with me? It's on the way," Bao Yugang invited with a smile.

Chen Bingwen's mind stirred slightly, knowing that Bao Yugang definitely had something to say.

We're all neighbors in Deep Water Bay, so it's understandable that we take the same car back together.

He nodded, gestured to Zhao Gang beside him, and then followed Bao Yugang into his understated but spacious Rolls-Royce.

The car was quiet, with only the slight sound of the engine.

Instead of getting straight to the point, Bao Yugang chatted about horse racing for a while until the car drove onto Situ Ba Road. Only then did Bao Yugang slowly put away his smile and get to the point.

"Mr. Chen, I called you here today to talk to you about HSBC."

Chen Bingwen turned his head to look at him: "About Hutchison Whampoa?"

"Yes, and not entirely." Bao Yugang nodded slightly. "The HSBC board of directors is currently divided on how to handle the batch of Hutchison Whampoa shares it holds; in fact, there are some contradictions among the members."

Chen Bingwen did not interrupt, but simply turned slightly to show that he was listening attentively.

"Newbie and Swire represent the mindset of a group of old-school British capitalists," Bao Yugang continued. "They've been entrenched in Hong Kong Island for many years, accustomed to their past high-and-mighty lifestyle. They instinctively dislike, and even harbor some suspicion, towards emerging Chinese businessmen like Li Ka-shing, who are shrewd and ambitious. They feel he's not disciplined enough," and fear he might disrupt the existing balance.

"But Sir Michael Sandberg is different." Bao Yugang looked at Chen Bingwen. "He represents the thinking of HSBC's internal leadership, or rather, the new generation of leaders."

HSBC has been the de facto ruler of Hong Kong Island for so many years, and people like Shen Qiang have long been accustomed to wielding great power.

You want them to give up everything here, return to the UK, compete with those more established conglomerates, and be subject to their control again?

They were a hundred times unwilling.

Chen Bingwen nodded; he had expected this.

Sir Michael Sandberg preferred to find a partner or front man who could maintain HSBC's influence in Hong Kong, rather than a complete withdrawal.

"So," Bao Yugang emphasized, "Sham Pu is actually waiting for the best offer, or rather, he is looking for a solution that best serves HSBC's long-term interests."

He doesn't necessarily have to choose Li Ka-shing, but whoever offers terms that better guarantee HSBC's future dominant position and interests has a greater chance.

He paused, looked at Chen Bingwen meaningfully, and said, "Li Jiacheng has been cooperating with HSBC for many years, and their relationship is very complex. This is his advantage."

But your recent series of actions, especially your connection with China Resources, have demonstrated energy and potential that have forced Sir Michael Sandberg and some HSBC board members to reassess your value.

"Does the gentleman mean that HSBC is also observing from the sidelines?" Chen Bingwen asked.

"That's right," Bao Yugang affirmed. "We'll see how far you go and how much profit you can bring."

You're riding high right now, but those old foxes at HSBC value endurance and stability more.

They need to be certain that you are not just a flash in the pan, but a true partner they can rely on in the new era, someone with whom they can achieve mutual success.

Chen Bingwen remained silent for a moment, digesting the information in Bao Yugang's words.

This is basically consistent with his previous judgment, but the fact that it was pointed out by Bao Yugang, an elder who was on good terms with both sides and held a superior position, carries a different weight.

"Thank you for your guidance, Sir," Chen Bingwen said sincerely. "I understand. Dealing with HSBC can't be rushed; we need to deliver tangible results."

"It's good that you think that way." Bao Yugang's face showed an appreciative expression. "When business reaches our level, it's often not about short-term gains or losses, but about vision, composure, and long-term planning."

Li Jiacheng has his foundation, you have your drive and vision.

The next step is to see who can better control HSBC, or rather, what Sir Michael Sandberg truly wants.

The car drove onto the quiet Deep Water Bay Road and soon arrived at the entrance of No. 75.

"Sir, thank you for your guidance," Chen Bingwen said before getting out of the car.

"Don't mention it," Bao Yugang waved his hand. "Come over and have a cup of tea when you have time."

"must."

Chen Bingwen stood in front of No. 75 Deep Water Bay, watching the taillights of Bao Yugang's Rolls-Royce disappear around the corner, before turning around and walking into his home.

The villa was quiet. My parents had gone back to the mainland to visit relatives, and there were only a few servants at home.

He took off his suit jacket, loosened his tie, and went to sit down in the study.

Bao Yu's words from the car were still echoing in his mind.

HSBC is observing... Sir Michael Sandberg is waiting for the right price to sell...

This was consistent with his previous judgment, but after being confirmed by Bao Yugang, the feeling was different.

Given Bao Yugang's status and his personal relationship with Shen Bi, his words were not unfounded; rather, they were more like a well-intentioned suggestion and a limited endorsement.

"Li Jiacheng's advantage lies in his network of relationships and years of cooperative foundation, while my advantage lies in my capital, momentum, and connections with the mainland."

Chen Bingwen calmly analyzed, "What Sir Michael Sandberg wants is not the highest price, but a partner who best aligns with HSBC's long-term interests."

An agent who can maintain HSBC's influence, adapt to future changes, and even help HSBC continue to benefit in the new landscape.

He recalled the countless mergers and acquisitions he had experienced in investment banking in his previous life. What ultimately determined the outcome of the transaction was often not just the price, but also the strategic fit and the shared expectations for the future.

Now, what he and Li Jiacheng are vying for is who can better instill this confidence in the future in Sir Michael Sandberg and the HSBC board.

Sir Michael Sandberg and some members of HSBC may be assessing whether investing in this rising star is more in HSBC's long-term interest than continuing to support Lee Ka Shing, whose foundation is already deep but whose vision is becoming increasingly limited.

"We can't rush things..." Chen Bingwen muttered to himself. "Whoever can remain calm and collected now will have more control."

HSBC's proposal to split the company into smaller units for sale is itself a test and a way to gauge market demand.

Being too eager to grab that 12% will only expose your urgency, make you vulnerable to being manipulated by Shen Bi, and lead to paying an even higher price.

His goal was never simply to compete for Hutchison Whampoa shares, but to ultimately control Hutchison Whampoa.

If they were to fight tooth and nail with Li Ka-shing for that 12% stake now, wasting a lot of cash, even if they got it, they would still be far from controlling the company. Instead, HSBC might reap the benefits, and even make Sir Michael Sandberg think that he was just an impulsive and easily manipulated young man.

"White gloves?" Chen Bingwen's lips curled into a cold smile.

He never intended to be anyone's front man.

He wants to be the player, not the piece.

Temporary forbearance and cooperation are merely a means to accumulate strength.

Once the strength is sufficient, it's hard to say who will dominate the game.

The two most crucial things now are: first, to continue to strengthen our own capabilities, making the foundation of Sugarheart Capital and Qingzhou Yingni more stable and the cash flow more abundant;

Secondly, we need to establish more direct and effective communication channels with HSBC, especially with Shen Qiang, so that he can see his own value and our shared interests in the future more clearly.

Once he understood this, Chen Bingwen felt a sense of clarity, and his previous anxiety vanished.

The next day, Chen Bingwen arrived at his office on the top floor of the Weiye Building on time.

Secretary Ali had already placed the day's newspaper and documents that needed to be processed first on his desk.

"Mr. Chen, Director Fang and Manager Huo are already waiting in the conference room," Ali reported.

"Okay, I'll be right there." Chen Bingwen quickly glanced at the newspaper headlines and then at the international version of the gold price trend.

He then put down the newspaper, got up, and walked towards the conference room.

Inside the meeting room, Vincent Fang and Canning Huo were discussing work.

Upon seeing Chen Bingwen enter, the two stopped talking.

"Mr. Chen," Chen Bingwen nodded and asked, "How is the subscription progress for the rights issue?"

Vincent Fang spoke first: "The rights issue application closed yesterday, and the subscription situation exceeded expectations, with an oversubscription of about 1.5 times."

The funds are expected to be fully in place this week.

After deducting underwriter fees and related costs, the net proceeds raised were approximately HK$205 million.

"Very good." Chen Bingwen nodded. "I plan to immediately use HK$100 million of this money to buy gold futures through our offshore investment account in Bermuda with triple leverage."

"Triple leverage?"

"One hundred million in principal means three hundred million in funds —" Upon hearing this, Fang Wenshan's face showed surprise, and he exchanged a glance with Huo Jianning.

Huo Jianning frowned slightly and reminded him, "Mr. Chen, we have HK$200 million in leveraged funds in our gold investment. The unrealized profit is considerable, but we have not yet closed the position."

Now, by investing another HK$100 million and triple leverage, our total risk exposure in the gold market will approach HK$900 million.

Is this position too large?

The risk is very high should the market experience a significant correction.

Chen Bingwen understood their concerns. A risk position of HK$900 million was an astronomical figure in the Hong Kong capital market at the time, enough to cause a market shock.

But he has absolute confidence in the future trend of gold.

He calmly explained, "I understand your concerns."

However, I believe that the bull market for gold is far from over.

Inflationary pressures and geopolitical risks continue to escalate, and gold prices breaking through $500 is just the beginning. It is not impossible for prices to rise to $600 or even higher in the coming months.

I'm looking at the returns for this investment over the next three to four months.

Short time, high returns.

He paused, then continued to allay their concerns: "As for financial pressure, you don't need to worry."

The sale of Qingzhou Yingni's cement business to China Resources will soon bring in the first installment of HK$336 million.

With our existing cash flow, we have enough to cover all day-to-day operations and planned investments.

The investment of HK$100 million in gold will not affect the development of the Yingni Red Plot in Qingzhou, nor will it affect our ability to deal with any emergencies.

This money is essentially an opportunity for us to use short-term idle funds to pursue a high return without affecting our core business.

After hearing Chen Bingwen's explanation, Fang Wenshan and Huo Jianning's expressions softened somewhat.

They knew that Chen Bingwen had always had a keen eye for investment, as evidenced by his previous gold investments.

Moreover, Chen Bingwen's cash flow arrangements were indeed well-thought-out, and the financial security of his core business was not compromised by his bullish outlook on gold.

"I understand, Mr. Chen." Fang Wenshan nodded.

Afterwards, the three discussed the funding plan for the development of the Yingnihong plot in Qingzhou for a while before concluding the meeting.

Chen Bingwen returned to his office.

Just as I sat down, the internal phone rang. It was Ali. "Mr. Chen, Mr. He Xian's secretary from Macau is calling. Mr. He would like to speak with you. Is that convenient?"

"Bring them in," Chen Bingwen said.

He Xian's initiative in calling suggests that he has made a decision regarding the entry of functional beverages into the Macau market.

The call was quickly answered, and He Xian's cheerful voice came through the receiver: "Mr. Chen, did I disturb you?"

"Mr. He, you're too kind. I just finished a meeting. What can I do for you?"

"I wouldn't dare to offer advice," He Xian said with a smile. "Yesterday you mentioned the matter of functional drinks entering the Macau market. After I came back, I asked my subordinates about it, and I think this matter has great potential."

Macau has many nightlife venues and tourists, so there are quite a few people who need to stay alert and energized.

I think we could first test the waters in the bars and mini-bars of some of my major hotel casinos and see how it goes.

What do you think?

Chen Bingwen was overjoyed. Being able to sell in He Xian's hotels and casinos was equivalent to directly entering Macau's most high-end consumer venues, a very high starting point.

"Of course! Thank you for your consideration, Mr. He. I'll immediately have my colleague in charge of Hong Kong and Macau business bring samples and quotes to your people."

"Okay, it's settled then. Let my secretary arrange a time and place with your people." He Xian was efficient and decisive. "Also, Mr. Chen, would you be interested in coming to watch the Macau Grand Prix next month?"

I've arranged a seat for you in advance.

"I will definitely attend He Sheng's invitation." Chen Bingwen knew this was an opportunity to further strengthen their relationship, so he readily agreed.

"It's settled then. See you then." Chen Bingwen was in a good mood after hanging up the phone.

The initial connection with He Xian has been established. Although the Macau market is not large, it is of great significance, especially given the uniqueness of its casino channels and its exemplary effect on high-end customers.

In the afternoon, after finishing his work, Chen Bingwen checked his watch and decided to visit the Yingni factory in Qingzhou.

Although the cement business is about to be sold, production management cannot be relaxed until the handover is completed.

He also wanted to personally see the preparation status of the Hongheyuan plot.

As the car entered the factory area, Huo Jianning was already waiting downstairs in the office building.

"Mr. Chen".

"Let's go take a look at the workshop and the dock," Chen Bingwen said.

Accompanied by Huo Jianning, Chen Bingwen inspected the cement production workshop and the cement transportation wharf.

Inside the factory, machines roared and workers were busy at work.

Huo Jianning accompanied him and briefed him on the recent production situation: "Orders have been stable recently, mainly supplying local construction sites and some long-term clients. The handover with China Resources has begun, and they have sent a working group to take stock of the assets."

Chen Bingwen nodded and walked into the cement production workshop.

The workshop was quite dusty, and the workers were wearing masks while operating the equipment.

He noticed that some workers looked at them with a hint of unease in their eyes.

"How are the employees' morale?" Chen Bingwen asked.

The biggest fear in selling off a business is employee unrest. Employees' worries about losing their jobs or changing their treatment can affect production safety and quality.

"The employees were still a little worried after learning about the sale," Huo Jianning answered honestly. "But when we were dealing with China Resources, they promised to give priority to hiring existing employees with unchanged salaries and benefits, so overall things are still relatively stable."

We've also held several employee meetings to explain the situation.

"Yes, stability is key," Chen Bingwen emphasized. "Properly arrange for employees and ensure a smooth transition."

Tell China Resources that we can assist in resolving any employee placement issues that arise during the handover period.

"Understood." Huo Jianning noted it down.

After inspecting the workshop, Chen Bingwen went to the dock.

Qingzhou Yingni has its own dedicated wharf for importing raw materials and exporting cement.

Standing on the pier, you can see the Hong Kong Island city across the water, with its towering buildings.

"Once the cement plant relocates, the value of this coastal land will be immeasurable," Chen Bingwen said to Huo Jianning.

The Hung Hom Crane Garden site is vast, located by the sea, and boasts convenient land and water transportation, as well as a sufficiently large area.

In the late 1970s, when land prices on Hong Kong Island were soaring, such a prime piece of land located near the core area was enough to be developed into a top-tier luxury sea-view residence or a high-end commercial complex, and its value would be dozens of times or even more than that of the original industrial land.

This is not only a key asset for Qingzhou Yingni's future transformation, but also a significant bargaining chip in his capital empire.

Has the site leveling work begun?

"It's already started." Huo Jianning pointed into the distance. "They've begun demolishing the old warehouse over there, and the geological survey is complete."

Chen Bingwen nodded and said, "After the handover with China Resources is completed, we will do our best to promote the development of the Hung Hom site."

This will be our focus in the future.

"yes.

""

A few days later, in the Peninsula Hotel's coffee shop, in a quiet spot by the window.

Chen Bingwen and Shen Bi sat facing each other.

The meeting was arranged by Sir Michael Sandberg through his secretary, and the location was chosen to be the Peninsula Hotel rather than HSBC's office, making the atmosphere more private and informal.

"Mr. Chen, you've been making quite a few moves lately." Shen Bi stirred his coffee, speaking casually as if chatting with an old friend. "The rights issue of Qingzhou Yingni was very successful, and the market response was enthusiastic."

"I heard the handover with China Resources is almost complete? It seems Mr. Chen values ​​cash flow very much."

As he spoke, his gaze seemingly casually swept over Chen Bingwen.

Chen Bingwen knew that Shen Bi was probing him to see his true intentions in raising a large amount of funds.

He smiled slightly and replied calmly, "You flatter me, Sir."

These are all normal business adjustments to optimize the asset structure.

Being financially savvy allows you to plan for the long term and seize opportunities when they arise.

"Long-term matters—" Sir Michael Sandberg nodded, seemingly pondering the words, then abruptly changed the subject, asking, "Is Mr. Chan still interested in the portion of Hutchison Whampoa's shares held by HSBC?"

The question was very direct, breaking the relaxed atmosphere from before.

Chen Bingwen remained expressionless, but quickly made a mental calculation.

The fact that Sir Michael Sandberg brought it up suggests that HSBC's attitude toward the sale is indeed softening, or at least that Sandberg himself wants to have another option besides Lee Ka-shing.

He couldn't appear too eager, but he also couldn't completely avoid it.

He carefully chose his words, saying, "Hutchison Whampoa is a high-quality asset with a solid foundation. Any investor with the financial strength would be dishonest to say they have no interest in such an asset."

He first affirmed Huang's value, then said, "But how exactly they are interested, and how much they are willing to pay, ultimately depends on the specific conditions and—whether the timing is right."

He gently kicked the ball back.

Shen Bi looked at him, seemingly trying to glean more from his calm expression.

"There are quite a few voices in the HSBC board of directors," he said slowly. "Some directors believe that Hutchison Whampoa needs fresh blood, and bringing in some energetic and innovative partners like Mr. Chan might be a good thing for Hutchison Whampoa's future."

"Of course," he paused, took a sip of coffee, "there are also many mature and prudent opinions that believe that in the current situation, stability is paramount."

These words clearly reveal the divisions within HSBC.

Chen Bingwen nodded in understanding: "Stability is indeed important, especially for large institutions like Hutchison Whampoa."

However, I also believe that vitality and the ability to adapt to change are equally indispensable, or even more important, in this day and age.

HSBC has always had a long-term vision.

He subtly complimented Shen Bi.

Shen Bi smiled, put down his coffee cup, and said with a smile, "Sir Bao mentioned you when we had tea together a few days ago."

He spoke highly of you, saying that although you are young, you are methodical and know how to conduct yourself appropriately.

Chen Bingwen knew that Bao Yugang was secretly paving the way for him, and he was grateful in his heart. On the surface, he appropriately showed respect for his senior: "Sir Bao is a senior, and he has given me a lot of guidance. I am lucky. There are still many things I need to learn from my seniors."

Sir Michael Sandberg nodded noncommittally and returned to the main topic: "There are quite a few people eyeing HSBC's Hutchison Whampoa shares."

If it were released, the price would definitely not be low.

If Mr. Chen is interested, he'd better have enough money ready!

This was partly a reminder, and partly a test of Chen Bingwen's financial strength and determination.

"Value determines price. I understand this principle," Chen Bingwen calmly responded. "I believe that with HSBC's expertise, its assessment of Hutchison Whampoa shares will be based on its true asset value, profitability, and future growth potential, rather than short-term market fluctuations."

Shen Bi gave him a meaningful look and said, "Sometimes, price isn't just about the numbers on the books."

He paused briefly, seemingly choosing his words carefully, "It may also include some things—future commitments and tacit understandings between us."

After all, HSBC hopes to have a stable, reliable partner in Hutchison Whampoa's future who understands how to maintain the overall situation.

.

Chen Bingwen understood.

By making it clear that HSBC (or rather, by making it his own name) wanted more than just the highest offer; it also wanted the protection of HSBC's interests and influence after Chen Bingwen took over Hutchison Whampoa, and even, to some extent, the cooperation with HSBC's pace.

This is similar to a "white glove" requirement, only phrased more euphemistically.

Temporary restraint is for a greater goal. Chen Bingwen quickly weighed the options; now was not the time for direct confrontation.

He needs to get a ticket to enter Hutchison Whampoa first.

So he adjusted his posture and put on a sincere expression: "Sir Sir Michael Sandberg, I completely understand what you mean."

For cooperation to last, mutual benefit and win-win outcomes are fundamental.

"If I have the opportunity to participate in the management of Hutchison Whampoa in the future, I will definitely attach great importance to the relationship with such an important shareholder and long-term partner as HSBC."

After listening, Shen Bi smiled and said, "Very good. As Sir Paul said, Mr. Chen is indeed very insightful and knows how to conduct himself appropriately. HSBC will closely monitor the development of Qingzhou Yingni and Sugar Heart Capital. We hope to hear more good news from you soon."

"Thank you, Sir Michael Sandberg, for your valuable time. We will strive to do our best in our business." Chen Bingwen knew that this exploratory meeting had come to an end.

Shen Bi personally assessed his capabilities, and he demonstrated his strength, potential, and cooperative attitude, temporarily stabilizing the other party and leaving room for possible subsequent negotiations.

This first step can be considered a smooth one.

But Chen Bingwen knew that the real contest was yet to come.

Shen Bi was a shrewd opponent who wouldn't place bets lightly.

He must grow stronger faster so that Sir Michael Sandberg and the HSBC board feel that choosing him is a wiser choice that is more in line with HSBC's long-term interests.

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