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

Chapter 260 Spending 4K RMB (Seeking monthly votes, recommendations, and subscriptions!)

As Morris finished his report and was about to leave, Chen Bingwen reiterated, "I will not interfere too much with the specific management of the TV station; I will only look at the results."

If you encounter any problems you can't solve, just come to me.

Chen Bingwen was at ease handing over RTV to Morris.

Professionals should do what they are good at. His energy needs to be focused on a more macro-level strategy, especially the integration of Hutchison Whampoa, which is the top priority at present.

Meanwhile, at the headquarters of TVB at 81 Broadcast Drive, in the chairman's office, Li Xiaohe and Run Run Shaw were also discussing the change of ownership of RTV.

Run Run Shaw placed a briefing on RTV's recent developments on Li Xiaohe's desk.

"Lisheng, it seems that Chen Bingwen, the new boss of Lidi, is not just dabbling in this business."

Their project, "The Land's Grace," has been officially approved, and I heard the budget is quite generous.

17

Li Xiaohe leaned back in his chair and slowly exhaled a puff of cigar smoke.

"Chen Bingwen—young man, you're quick on your feet. He's a master at making beverages, but in the television industry, money alone isn't enough."

His tone was calm, with the composure typical of a veteran leader: "Our TVB's foundation built over many years cannot be shaken by one or two big productions."

Run Run Shaw nodded, but his brows furrowed slightly: "That's true, but this Chen Bingwen doesn't play by the rules."

His acquisition of Rediffusion doesn't seem like a mere hobby or a last-minute gamble.

I heard he completely delegated authority to Maurice, the man he brought in from England, and basically didn't interfere in day-to-day affairs. This kind of trust and delegation was something I'd never seen from Li's previous bosses.

"Delegating power is both a good thing and a bad thing," Li Xiaohe said calmly. "Will the people below outwardly comply but inwardly resist?"

Will the production team take this opportunity to ask for a higher price?

There are many problems.

Sixth Brother, let's do it at our own pace.

The key dramas like "The King of Gamblers" and "Shanghai Bund" need further polishing of the actors and scripts to ensure everything goes perfectly.

Let your abilities speak for themselves; that's more important than anything else.

Shaw replied, "I have already instructed Wang Tianlin and the others to expedite preparations."

However, I've heard that RTV's "The Land of Love" has a solid script and is a rural-themed drama, which is different from our current urban romance and martial arts gambling dramas. It might attract a different kind of audience.

"Know yourself and know your enemy, and you will never be defeated." Li Xiaohe agreed, "Have Zhou Liang Shuyi keep an eye on ATV's broadcast schedule and promotional activities."

At that time, we can adjust the repertoire for the match as appropriate.

In short, we should be dismissive strategically, but take it seriously tactically.

Let's see what kind of fire this young man can start.

"Okay, Mr. Lisheng." Shaw made a note of it.

He knew that Li Xiaohe's composure was based on the advantages that TVB had accumulated over the years, but the variable of Chen Bingwen, and the huge amount of money he held, did add more uncertainty to the competition for the Broadcast Channel in the future.

When he left Li Xiaohe's office, he was already thinking about how to further strengthen the program reserves, especially the response plan for this kind of rural realism.

A few days later, in the conference room of Hutchison Whampoa's headquarters building, this was the second board meeting since Chan Ping-man took over. The core issue was still the review of the "five-for-one" rights issue fundraising plan.

Li Jiacheng arrived early and sat near the chairman's seat, slowly and methodically flipping through the proposal he had studied repeatedly, his expression calm.

But those who know him well can see a hint of seriousness hidden deep in his eyes.

He knew that Chen Bingwen had come prepared this time.

Chen Bingwen entered the conference room accompanied by Wei Li, Huo Jianning, and Mai Lisi.

He walked directly to the chairman's seat and sat down. Without any further pleasantries, he glanced at all the directors present and announced the start of the meeting.

"Everyone, time is precious, let's get started."

The core topic today is the company's proposed rights issue plan.

Huo Jianning, representing the management, elaborated on the plan again: In order to meet the funding needs for the upgrading of port equipment, debt restructuring and the development of the Red Land plot, it is proposed to issue one share for every five existing shares, raising approximately HK$1 billion.

As soon as the plan was presented, the meeting room fell into a brief silence.

Several directors exchanged meaningful glances between Chen Bingwen and Li Jiacheng, awaiting another clash between the two sides.

As expected, Li Jiacheng spoke first, his voice calm but with a hint of discussion: "Mr. Chen, I think the direction of the rights issue and fundraising is correct."

Hutchison Whampoa does indeed need an injection of funds.

However, one billion Hong Kong dollars is not a small amount. Is it a bit too hasty?

The development of the Red Plot, in particular, involves the relocation of Huangpu Shipyard's operations and the resettlement of thousands of employees, making it extremely complex. Given the hasty launch of such a large-scale rights issue, will the market be concerned about its return cycle?

Perhaps we can consider a phased approach, addressing the most pressing issues of port equipment and debt first, while also keeping the scale of operations more prudent and making it easier to gain shareholder support.

Li Jiacheng reiterated his old concerns, using a strategy of retreat as a means of advancement, raising seemingly reasonable concerns while actually delaying and weakening his opponent's proposals.

Chen Bingwen had long anticipated that Li Jiacheng would use this as a pretext to launch an attack.

In the past, he might have needed to deal with the issue of funds, but now, with a huge profit of over HK$1.2 billion he had just earned from the London gold market, he was full of confidence.

He waited until Li Jiacheng finished speaking before speaking slowly and firmly, saying, "I understand Mr. Li's concerns."

Caution is a virtue. However,

He abruptly changed the subject, his gaze sharpening as he looked at Li Jiacheng and all the directors present. "Business opportunities are fleeting."

With interest rates currently high, this is the best window of opportunity to negotiate repayment of high-interest debt. Every month of delay will result in us paying a huge amount more in interest.

As you all know, the competitive landscape at the port is such that our equipment efficiency is already outdated. If we don't invest, our existing market share will be completely eroded by our competitors.

He paused briefly to allow everyone to process his words before delivering the decisive blow: "As for the funding issue, I can tell you clearly that Sugar Capital, as the major shareholder, is full of confidence in Hutchison Whampoa's future."

If existing shareholders are unable to participate in this rights issue for any reason, resulting in insufficient subscription, Sugar Heart Capital will underwrite all unsubscribed shares to ensure the successful completion of the fundraising plan and to ensure that the company's strategic development is not delayed due to funding issues!

As soon as this statement came out, everyone was shocked.

Fully covered by the purchase!

This means that Chan Ping-man has prepared at least several hundred million Hong Kong dollars in cash, which he can invest in Hutchison Whampoa at any time!

This was no longer a typical business proposal, but rather an almost ultimatum-like declaration: This must be done, and it must be done now. Money is no object; if you don't join, I'll take it all myself!

Li Jiacheng's expression instantly turned somewhat ugly.

He hadn't expected Chen Bingwen to be so resolute, nor had he expected that Chen Bingwen had such a large amount of cash on hand!

This completely disrupted his plan to use financial pressure to delay the process.

He had heard rumors that Chen Bingwen had made a fortune in the London gold market, but he did not expect the amount to be so huge.

This means that many of the points of attack he had previously set up failed in the face of absolute financial advantage.

The atmosphere in the venue completely changed.

Those directors who were initially hesitant were now rapidly calculating in their minds.

The fact that the major shareholder is willing to fully underwrite the entire project with real money demonstrates its strong confidence in the plan and its powerful financial strength.

Following such a major shareholder seems to offer less risk and greater opportunities.

If they object, they may not only offend the major shareholders, but their influence on the board of directors may also be further reduced due to the dilution of their shareholding.

Li Jiacheng could clearly sense the change in the gazes around him.

He knew he had lost this round.

Chen Bingwen used the simplest method of throwing money at the problem to break through all of his ingenious schemes.

Faced with absolute power, any strategy seems pale and powerless.

He suppressed his frustration and a hint of anger, knowing that further opposition would not only be futile but would also put him in a more passive position.

He took a deep breath and forced a slightly stiff smile: "Since Mr. Chen has such determination and financial resources, then I have no reason to object anymore."

Cheung Kong Holdings will participate in this rights issue proportionally.

This was a difficult statement to make, but it was the choice that best served his interests at that moment.

By following suit, they can maintain their shareholding ratio and influence.

If you don't follow, you'll be completely marginalized.

A barely perceptible smile appeared on Chen Bingwen's face.

"Very good, thank you Mr. Li and all the board members for your support."

He looked around and saw gazes that were either in agreement, awe, or helplessness.

He knew that only after this board meeting would his authority at Hutchison Whampoa be truly established.

Newbee and the others were secretly alarmed and completely abandoned any thought of waiting and seeing.

The rights issue plan was successfully approved.

After the meeting, Li Jiacheng was the first to get up and leave, walking a little faster than usual.

As Chen Bingwen watched his retreating figure, he knew in his heart that this matter would not end there.

Li Jiacheng is by no means someone who easily admits defeat.

Forcing him to invest is tantamount to directly depleting his cash flow, and he will inevitably retaliate.

However, Chen Bingwen also made two preparations. He held a huge sum of cash, more than HK$1.2 billion, which he had earned from the gold market, and this money was his biggest source of confidence.

If Li Ka-shing still wants to continue to hold sway over the Hutchison Whampoa board, he wouldn't mind using this money to further increase his stake in Cheung Kong Holdings on the secondary market, or even launch a hostile takeover to directly destroy Li Ka-shing's stronghold.

Given Cheung Kong Holdings' current market capitalization, although this will be a tough battle, Chen Bingwen now has enough capital to fight it.

His previous acquisition of a 4.9% stake in Cheung Kong was a move he made in advance to prepare for this situation.

Chen Bingwen picked up his teacup, gently blew on the floating leaves, and took a sip.

He knew that merely forcing Li Jiacheng to co-invest at the board meeting was only the first step, and it was far from time to rest easy.

A seasoned veteran like Li Jiacheng will never give up so easily, and there will inevitably be further twists and turns.

Launching a hostile takeover of Cheung Kong Holdings in the off-market secondary market to force Li Ka-shing to withdraw from Hutchison Whampoa, while an alternative plan, is a poor choice due to its excessive impact.

Killing a thousand enemies while losing eight hundred of your own is a recipe for disaster, easily triggering market panic and regulatory attention. It should not be used unless absolutely necessary.

"The best way is to make him back down and voluntarily give up his Hutchison Whampoa shares," Chen Bingwen thought to himself.

This requires someone to deliver a message, lay out the stakes, and give Li Jiacheng a graceful way out.

The person delivering the message must be of sufficiently high status, have a relatively neutral stance, and be someone that Li Jiacheng can take seriously.

Almost instantly, one name came to mind—Bao Yugang.

Sir John Paul was not only a world shipping magnate and highly respected among Chinese businessmen in Hong Kong, but also a member of the board of directors of HSBC.

Moreover, he has connections with Li Jiacheng, so it would be most appropriate for him to step in and mediate.

It allows you to convey your bottom line without immediately escalating the conflict.

A few days later, Chen Bingwen's Mercedes-Benz drove onto Deep Water Bay Road and stopped in front of Bao Yugang's residence.

Bao Yugang personally greeted him at the door, his smile as warm as ever.

"Mr. Chen, a rare guest indeed, please come in."

In Bao Yugang's elegant study, the servant served fragrant tea and then quietly withdrew.

After exchanging a few pleasantries, Chen Bingwen got straight to the point: "Sir, I've come to visit you today because I'd like to hear your opinion on something." Chen Bingwen said with a smile.

Bao Yugang smiled and waved for him to continue: "No need to be polite, just say what you have to say."

"It's about Mr. Li Ka-shing of Cheung Kong Holdings."

Chen Bingwen got straight to the point: "Since I took over Hutchison Whampoa, Mr. Li seems to have some ideas and has repeatedly hindered me at the board meetings."

For the stable development of Hutchison Whampoa in the future, I hope Mr. Li can focus on Cheung Kong Holdings and relinquish his Hutchison Whampoa shares.

Bao Yugang took a sip of tea, remaining calm: "Oh? I'm afraid Mr. Li won't let go easily. Hutchison Whampoa is a juicy piece of meat; he's been eyeing it for quite some time."

"So, it might be necessary to put some pressure on him."

Chen Bingwen sneered and slowly said, "It just so happens that I'm a bit flush with cash lately, and I also had some Cheung Kong Holdings shares. Since Mr. Li's Cheung Kong Holdings is so good, I might as well buy some more!"

A glint flashed in Bao Yugang's eyes, and he immediately understood Chen Bingwen's intention.

This is a hostile takeover of Cheung Kong Holdings, forcing the Li family to comply.

He pondered for a moment and said, "Mr. Chen, there's a limit to business competition. Pushing too hard can easily lead to mutual destruction."

Chen Bingwen nodded: "I understand. My goal is not to destroy Cheung Kong Holdings, but simply to ask Mr. Li to withdraw from Hutchison Whampoa."

If he's willing to sell his shares at market price, I can even guarantee that Sugar Capital will not increase its stake in CK Asset Holdings for some time to come, and everyone will be fine.

Bao Yugang pondered for a long time.

He admired Chen Bingwen's boldness and skill, but also knew Li Jiacheng's resilience and energy.

The outcome of this fierce battle is unpredictable.

However, acting as an intermediary to convey information and exert appropriate influence aligns with his stance of safeguarding the overall interests and stability of the Hong Kong business community.

"Alright, I can find a suitable opportunity to convey this message to Mr. Li tactfully."

Pao Yue-kong concluded, "But the final decision rests with them."

"That's enough, thank you, Sir."

Chen Bingwen raised his teacup, "I'll offer you a toast with tea instead of wine."

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