Hong Kong variety show: Building a century-old family, starting with Hung Hing

Chapter 362 Acquisition Matters

Jiang Tiansheng watched all this, pondering in his mind. He decided to experience the auction process first, so he also raised his paddle and started bidding.

The price kept rising, and Jiang Tiansheng kept raising his paddle. When the price reached 2000 million yuan, he still didn't put down his paddle.

At this point, the 3.7 square foot plot of land, with a starting price of 1800 million yuan, had already been sold at an 11% premium. His peers around him cast strange glances; in their eyes, Jiang Tiansheng, a newcomer to the real estate industry, was acting rather rashly.

But Jiang Tiansheng remained unmoved and continued to monitor the bidding process.

Soon, the price was driven up again, and eventually, a small company won the bid for the land at 2100 million yuan, a premium of 17%.

Jiang Tiansheng thought to himself, this small company seems determined to win.

The auction then reached its climax with the auction of two important plots of land in the Tsim Sha Tsui East area – Nos. 67 and 77 Mody Road.

The host walked onto the stage and introduced, "Ladies and gentlemen, the two plots of land to be auctioned next are No. 67 and No. 77, Modi Road."

Both plots of land are over 4 square feet in size. Although they are not by the sea, they are in excellent locations and have great development potential.

The bidding for plot 67, Mody Road, is now open!

As soon as the words were spoken, bidding paddles were raised one after another. The representative from Chinachem Real Estate Company was exceptionally enthusiastic, continuously raising the price.

Jiang Tiansheng noticed that Chinachem Group seemed to have a strong interest in this Tsim Sha Tsui East site.

Other real estate companies were not to be outdone, and prices soared.

"1.2 million yuan!" a local mid-sized real estate company shouted out a high price.

Chinachem Properties hesitated for a moment, but ultimately did not raise the price further. With the auctioneer's hammer falling, the plot at No. 67 Mody Road was won by this local mid-sized real estate company for 1.23 million yuan.

Immediately afterwards, the bidding for plot No. 77 Mody Road began.

This time, Chinachem Properties was even more determined to win, engaging in fierce competition with several other companies. "1.3 million yuan!" shouted the representative of Chinachem Properties.

Other companies considered it briefly and then raised their prices further.

However, Chinachem Group did not back down and eventually won the No. 77 Mody Road plot for 1.36 million yuan.

After the auction, Jiang Tiansheng left the venue and went to a restaurant in Tsim Sha Tsui to meet with Li Jiafeng.

Li Jiafeng had been waiting for a long time. When he saw Jiang Tiansheng come in, he quickly got up to greet him.

"President Jiang, you've arrived," Li Jiafeng said.

"Yes, I'm sorry to have kept you waiting." After sitting down, Jiang Tiansheng went straight to the point, "Tell me what you know."

Li Jiafeng took out the documents and said, "Mr. Jiang, these are the documents for three shopping malls and one medium-sized commercial building, Kato Building, in Kowloon City. Let's start with Kato Building. It's an old building with a rather average location."

Jiang Tiansheng flipped through the documents. "Judging from the information, this Jiadu Building is indeed not very good."

So, let's investigate the surrounding area first, and then decide whether or not to consider it.

“Okay, Mr. Jiang,” Li Jiafeng replied, and then continued, “Let me tell you about these three shopping malls. They are all located near Laundry Street in Mong Kok, a densely populated area with considerable commercial potential.”

Jiang Tiansheng's eyes lit up. "These three shopping malls are quite interesting."

Go contact the mall owner and see if there's any possibility of cooperation.

“Okay, Mr. Jiang. But what are your thoughts on the cooperation method?” Li Jiafeng asked.

Jiang Tiansheng pondered for a moment and said, "You will hold a 30% stake in the shopping mall project, but you will have to raise the funds yourself."

“A 30% stake? Mr. Jiang, this…” Li Jiafeng was somewhat surprised. He hadn’t expected Jiang Tiansheng to make such a proposal, and he also realized the difficulty of raising funds.

"What's wrong?" Jiang Tiansheng asked.

“President Jiang, raising funds is no small matter; I need to think of a way. However, I will do my best,” Li Jiafeng said.

“Okay, do it as soon as possible, and report back immediately if there are any developments,” Jiang Tiansheng said.

That evening, Jiang Tiansheng returned to his luxury residence in Ulsan Garden, a hillside area.

Luo Qixing was already waiting in the living room. Upon seeing Jiang Tiansheng return, he immediately stepped forward to report: "President Jiang, the acquisition of Shenbao Printing Company is complete."

"Oh? Progress so fast? Tell me more," Jiang Tiansheng said after sitting down.

“We completed the acquisition with 79 yuan in cash, half of which was a loan, and another 20 yuan… was misappropriated from customer deposits,” Luo Qixing said cautiously.

"What? Misappropriating customer deposits?" Jiang Tiansheng's face darkened. "Luo Qixing, this is no small matter."

Misappropriating funds is a bad habit and will cause serious trouble later.

Lin Ya chimed in, "You're right. If the company has other shareholders in the future, this kind of thing can easily be used to create trouble."

Luo Qixing lowered his head. "President Jiang, I know I was wrong. I had no choice at the time; I simply couldn't raise the funds."

Jiang Tiansheng sighed, took out a check for 20 yuan and handed it to Luo Qixing, "Make up for the embezzled funds, and don't do this again."

"Yes, Mr. Jiang, I promise I won't do it again." Luo Qixing said, taking the check.

“Remember, the company’s reputation and standardized operations are very important. Let’s let this matter go this time, but if it happens again, it won’t be so simple,” Jiang Tiansheng said seriously.

“I understand, General Manager Jiang,” Luo Qixing said.

"After the acquisition of Shenzhen Bao Printing Company, the subsequent integration work also needs to be done well. What are your plans?" Jiang Tiansheng asked.

"I plan to stabilize the morale of the employees first, and then gradually streamline and optimize the business," Luo Qixing replied.

Jiang Tian asked Luo Qixing, "By the way, what's been happening with Yulang International Company lately?"

Luo Qixing quickly replied, "Yulang International has already sent a lawyer's letter to Shenzhen Bao Printing Company, demanding compensation and asking us to publish an apology letter."

After thinking for a moment, Jiang Tiansheng said, "Hmph, Huang Yulang is coming on strong."

We can't just sit here and wait to die; we have to think of a way. I think we should use the media to expose Jade Dragon International's egregious behavior, isolate them, and incidentally win over their competitors.

Luo Zegui, who was listening nearby, said with some concern, "Isn't this too heartless?"

After all, in the business world, you see each other all the time.

Jiang Tiansheng responded: "Father, you must understand that Huang Yulang will not let us off easily."

Now that he's sent a lawyer's letter, we have to respond firmly. If we don't suppress him this time, there will be endless trouble later.

Luo Qixing nodded in agreement: "President Jiang is right. Huang Yulang has always been domineering. We can't let him get away with it this time."

Therefore, Jiang Tiansheng instructed his men to contact the media and prepare to expose the affairs of Yulang International.

Soon, negative news about Yulang International's merger with the printing company appeared in the newspapers.

This immediately attracted widespread attention within the industry.

Yulang International is facing internal difficulties, and many printing companies that had previously cooperated with it have terminated their partnerships.

Wong Yuk-long faced immense pressure and, in order to maintain his comic book publishing business, had to consider acquiring a printing company at a high price.

At the same time, Jiang Tiansheng visited Sun Hung Kai Securities to learn about the situation of Hongpu Chemical Company.

He asked Bai Jinyan, "Bai Jinyan, what exactly is the situation at Hongpu Chemical Company right now?"

Bai Jinyan replied, "President Jiang, the news of Hongpu Chemical Company's previous fraudulent capital injection has been exposed, and its stock price has plummeted. Now their boss has fled Hong Kong."

Upon hearing this, Jiang Tiansheng's eyes lit up, and he said, "Oh? What about their company's patents and properties?"

I'm quite interested in these things, especially since they're publicly listed companies.

Bai Jinyan reminded him, "President Jiang, although Hongpu Chemical Company has its attractive features, they have a high level of debt."

Furthermore, the bank also holds a 35% stake in them; if an acquisition is to be made, the relationship with the bank must be handled carefully.

Jiang Tiansheng nodded and said, "Yes, you're right. This definitely needs to be considered carefully."

By the way, you mentioned before that the landlord's meeting might be related to the stock price manipulation of Hongpu Chemical Company. What's the story behind that?

Bai Jinyan said, "President Jiang, I've also heard some rumors. But given the current state of Hongpu Chemical Company, I doubt anyone will be interested in it."

Jiang Tiansheng pondered for a moment and said, "That's not how it works. Opportunities are more likely to exist in times like these. I need to study this further."

In the office of Paramount Company, Su Qishan was reporting to Jiang Tiansheng on the situation of the business district surrounding Jiadu Building:

"Mr. Jiang, the survey results for the business district surrounding Jiadu Building are in."

Based on the current situation, there shouldn't be any major problems selling the Jiadu Building, but the profit may be limited.

After listening, Jiang Tiansheng said, "Okay, I understand. The location of Jiadu Building is so-so, it would be good if we could make a profit."

Let's put it aside for now and see if a better opportunity arises.

Afterwards, Jiang Tiansheng met with Zhu Baiqi, the owner of Baiqi Real Estate Company, to discuss the acquisition of Weiji Building.

Upon meeting, Zhu Baiqi said, "Mr. Jiang, I sincerely want to sell the Weiji Building to you, but the price is HK$1.5 million, and I can't go any lower."

Jiang Tiansheng responded with a smile: "Mr. Zhu, HK$1.5 million is indeed a bit high."

As I said before, I won't raise the price to HK$1.45 million.

Zhu Baiqi hesitated for a moment and said, "President Jiang, how about this?"

I also have an old tenement building in Ho Man Tin, which I want to sell together with the Wai Kee Building.

As you know, I'm currently experiencing some cash flow problems, and I hope Mr. Jiang can lend me a hand.

Jiang Tiansheng's heart skipped a beat, realizing that there might be something wrong with this brothel.

At this moment, Kang Wenyi privately reminded him: "President Jiang, I've inquired. The Kowloon East Highway that the Hong Kong government plans to build may pass through that tenement building. At that time, the tenement building will be partially requisitioned, and the Hong Kong government will only provide half of the compensation."

Upon hearing this, Jiang Tiansheng understood that Zhu Baiqi was testing his abilities, and he was also aware of the potential risks of acquiring the Tanglou building. He calmly replied to Zhu Baiqi, "Mr. Zhu, I've also done my research."

This tenement building is in a mediocre location and has quite a few problems. 900 million is the highest price I can offer.

Zhu Baiqi thought for a while and tried to persuade Jiang Tiansheng: "President Jiang, please reconsider."

"Buying these two properties together will give them huge potential for future development."

Jiang Tiansheng remained unmoved. "Boss Zhu, potential is potential, but the price must be reasonable."

"My bottom line is to acquire the Wai Kee Building for HK$1.43 million and take over the tenement building for HK$900 million."

After a fierce back-and-forth struggle, Zhu Baiqi finally compromised.