Rebirth of the Hong Kong Millennium Conglomerate

As dusk melts into gold, the silhouette of Victoria Peak in Hong Kong appears even more majestic. Halfway up the mountain, a cream-colored villa with a strong Victorian style stands quietly, its wrought iron fence covered with lush green ivy, and its carved columns casting long silhouettes in the setting sun. This is the private residence of Henry Joseph, the magistrate of Jardine Matheson, and the birthplace of countless business magnates in Hong Kong.

A black Rolls-Royce slowly drove into the driveway, its wheels making a crisp sound as they rolled over the road.

The car door opened, and Niu Bijian's face showed barely concealed anxiety. He straightened his sharp suit and tie, took a deep breath, and then stepped onto the polished marble steps.

The butler was already waiting at the door, respectfully leading him through the spacious reception room.

The crystal chandelier in the hall is dazzling, and the European classical oil paintings on the wall complement the oriental blue and white porcelain vases, showcasing the owner's wealth and taste.

Henry Joseph was standing in front of the French windows, holding a glass of amber whiskey. Hearing footsteps, he slowly turned around.

"You've arrived, please have a seat." Henry Joseph raised his hand in a gesture of acknowledgment, displaying the composure of someone long accustomed to a position of authority.

After Niu Bijian sat down, he had no interest in savoring the premium coffee in front of him. He placed the documents in his hand on the coffee table and said urgently, "Boss, Zhou Xinian's actions are getting more and more reckless! The board of directors of Dairy Farm has been releasing a series of positive news these past few days, including stock splits and bonus share issues, and they've also been making a big fuss in the newspapers. Many minority shareholders are starting to waver, and our acquisition plan..."

Before he could finish speaking, Henry Joseph raised his hand to interrupt him. Henry swirled the wine in his glass and said, "You're too impatient. Zhou Xinian's methods are nothing more than bad ideas given to them by the Rothschild family's investment company. They're just child's play and nothing to worry about."

"Nothing to fear?" Niu Bijian frowned, his tone full of confusion. "Boss, public opinion in the market is already leaning towards them. If this continues, won't all our previous efforts be in vain?"

"Make a move?" Henry Joseph chuckled, setting his glass aside. "They have their tricks, and we have ours to fight back. This battle, from the very beginning, wasn't fought in the stock market, but in the arena of public opinion, in the minds of shareholders."

His words were firm and resolute, calming Niu Bijian's anxious mind somewhat. Looking into Henry's unfathomable eyes, he knew that this magistrate of Jardine Matheson must already have a foolproof plan.

As night deepened, a cool breeze blew across the summit of Victoria Peak, rustling the sycamore leaves outside the villa window.

Meanwhile, Hong Kong, nestled in the heart of the stock market frenzy, remained oblivious to the looming storm of public opinion that was about to engulf the entire market.

The following day was Saturday.

As is customary in the Hong Kong stock market, the market is closed on weekends, and the usual hustle and bustle is absent from the exchange.

But this has in no way diminished the public's enthusiasm for the Dairy Farm International Holdings Limited's takeover bid with Hongkong Land.

In the tea restaurant, the vendors put down their bowls and chopsticks and discussed the latest developments of the two companies with great enthusiasm.

Under the watchful eyes of countless people, Hongkong Land's counterattack declaration was prominently published as a full-page headline in the front pages of major Hong Kong newspapers.

For a time, the whole of Hong Kong was in an uproar.

As the core asset of Jardine Matheson, Hongkong Land was at its peak at that time, not only firmly occupying the leading position in Hong Kong's real estate industry, but also having the prestigious reputation of being one of the "world's three major real estate companies".

Henry Joseph, the business tycoon who served as taipan of Jardine Matheson and chairman of the board of directors of Hongkong Land, launched a thunderous psychological offensive against the board of directors of Dairy Farm and all shareholders.

At the very top of the GG logo, four large, gold-plated characters gleamed brightly – Stock King Land!

It instantly captured the attention of all readers. Below the title, a striking line of bold text went straight to the heart of the matter: To all shareholders of the Milk Company: Please carefully consider the following key matters.

The lengthy text thoroughly analyzes the recent series of actions taken by the board of directors of the dairy company.

The first question directly addresses the essence of the stock split and bonus issue. GG sharply questions why Dairy Farm International Holdings Limited chose this sensitive juncture to launch the stock split and bonus issue plan. It should be understood that this move does not change the company's actual asset situation; it merely splits the original HK$268 per share into ten shares, each worth HK$26.8.

It's like cutting a cake into ten pieces; the number of pieces seems to have increased, but the total weight of the cake has never increased at all.

This is nothing more than a smokescreen to deceive minority shareholders and attempt to confuse the public.

The second question points to the inaccuracy of profit forecasts. The board of directors of the Dairy Farm Company once boldly declared that the company's profit growth rate in 1972 would be as high as 35%, which attracted countless investors.

However, GG of Real Estate ruthlessly exposed this lie—the so-called 35% growth rate only included the huge amount of funds raised by the company through a rights issue in May 1972.

If this non-operating income is excluded, the dairy company's actual profit growth rate is only 21%!

This stark comparison of figures caused the dairy company's credibility to plummet instantly.

The third question criticizes the company for disregarding long-term development. GG points out that the Dairy Farm Company's board of directors is only concerned with immediate gains and remains tight-lipped about the profit forecast for 1973.

In contrast, Hongkong Land's acquisition proposal clearly outlined its profit growth plan for the next three years, with every word based on solid market research and rigorous financial analysis, demonstrating the style of a major player.

Comparing the two, a judgment is made.

The fourth question is a blatant warning, and a decisive, drastic measure.

Hongkong Land solemnly reminds every Dairy Farm shareholder in its Google Ads post: If Hongkong Land terminates this acquisition, Dairy Farm's share price will inevitably plummet from the current HK$268 per share to HK$135 per share before the acquisition proposal was made, a drop of up to 49%!

This means that shareholders who are hoping for a lucky break will face huge losses, with their investment nearly halved.

This piece of writing is a perfect manifesto. Every word precisely strikes at the dairy company's Achilles' heel.

In an instant, public opinion in Hong Kong completely reversed.

On every street corner, everyone was talking about Landsea's fierce counterattack and marveling at the unpredictable nature of this business war.

Dairy Farm International Holdings Limited and Hongkong Land Development Company Limited, one a long-established local enterprise and the other a foreign business giant, engaged in a fierce war of words, exchanging accusations in the newspapers, neither willing to back down, and the battle was fierce and evenly matched.

This war without gunfire is more thrilling than any stock market fluctuation.

The stock market investors at the center of this storm have already been overwhelmed by the frenzied atmosphere.

In their eyes, the stock market is no longer a rational investment venue, but a treasure trove of gold.

Countless people, clutching their hard-earned savings and even mortgaging their properties and taking out loans, are rushing into the stock market, dreaming of getting rich overnight and living a life of extravagance and debauchery.

The entire Hong Kong market has fallen into a state of extreme frenzy, as if it were a doomsday carnival.

Just as this nationwide stock market frenzy was intensifying, a significant voice emerged.

HSBC tycoon Sanders, a pivotal figure in Hong Kong's financial world, issued a public statement through the media: "The current Hong Kong stock market has degenerated into a pure speculative game. The prices of many stocks have long since deviated significantly from their actual value, and the extent of the bubble is alarming!"

This warning, like a thunderclap, resounded over Hong Kong.

At that moment, Zhang Zeyang was sitting in his living room with today's newspaper in front of him.

When he saw Sandas's remarks, his fingers holding the teacup paused slightly, and a glint of admiration flashed in his eyes.

As the financial center of Hong Kong, HSBC's remarks by Sanders were by no means unfounded.

At a time when the entire market was swept up in greed and frenzy, he dared to go against the tide and speak out with a clear mind. This courage and foresight are beyond the reach of ordinary people.

Zhang Zeyang couldn't help but think to himself that Hong Kong, this tiny place, was indeed full of hidden talents. These elites standing at the top of the pyramid certainly had their own extraordinary abilities.

Unfortunately, those who are clear-headed are ultimately in the minority.

Faced with the lure of huge profits, most investors ignored Sanders' warnings.

Seeing the soaring stock prices and hearing rumors of people around them getting rich overnight, they were already blinded by greed and lost their minds.

In their eyes, the stock market is not a collection of numbers, but a pool of hard-earned money, a wealth and glory within reach.

No one realized that an unprecedented stock market crash was quietly lurking beneath the frenzied bubble, just waiting for the right moment to explode and crush the wealth and dreams of countless people.

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