v3 Chapter 1054： King of Xiangjiang Energy

Li Zhaoji's pupils shrank and remained silent, and the situation about China Gas Company quickly emerged in his mind.

Among his assets are the shares of China Gas Company, but not in Henderson Land Development Company, but under Wing Tai Construction Company Limited.

He founded the Henderson Land Development Company, which was listed in June this year, by himself, but Wing Tai Construction Company was founded in partnership with Hu Baoxing after he emerged from Sun Hung Kai Enterprises at the end of 1972.

Although he has expanded the shares several times and is now the largest shareholder and chairman of Yongtai Jianye, he still has not completely acquired Yongtai Jianye.

It's not that he doesn't want to completely acquire Yongtai Jianye, but that he doesn't have enough funds for the time being, and partner Hu Baoxing still resists.

But now, there seems to be a good opportunity...

Although he also has ideas for China Gas Company, Xia Yu has come to his door now. With Xia Yu’s style of acting, the preliminary preparations are certainly not bad. Yongtai Jianye's shareholding ratio may not necessarily have an advantage, and his capital It is even less comparable to Xia Yu. The result of a head-to-head will definitely be a mess, and it will also delay his bargaining and growth in this once-in-a-lifetime opportunity.

It's better to stop in time and cut off your thoughts about China Gas.

Moreover, if the shares of China Gas Company are stripped and sold, he can get the bulk of the shares according to his shareholding ratio, and then he will start to acquire Yongtai Jianye Company.

Anyway, I am now ready to buy land and properties, and the assets of others are definitely not as important as the company I built myself.

And there are indeed some gaps in his funds.

The wealthy Xia Yu focused on the China Gas Company, and the struggle is sure to be unwinnable. It doesn't matter if he stops thinking, he concentrates on real estate and property...

Xia Yu drank the tea tightly and waited patiently. He had already analyzed before coming. With Li Zhaoji’s current situation and his style of life, he would not hold onto China Gas’ equity. The key is The money is still in place.

really.

After Li Zhaoji finished thinking, he took a sip of tea and said with a smile: "Mr. Xia, Yongtai Jianye Company owns 26.4% of China Gas Company. We are also old friends. Since you need it, then I am also happy with adult beauty."

"But you also know that Yongtai Construction Company was not owned by me alone. It was founded by me and Hu Baoxing. I can convince him to agree to sell shares, but I must be able to speak out about the price."

Xia Yu nodded and said, "This is what it should be. There must be a reasonable price that is acceptable to both parties."

"In this way, you might as well listen to me first about my views and prices."

Li Zhaoji smiled and nodded, made a please gesture, and looked at Xia Yu quietly.

Xia Yu took a sip of tea and cleared his throat, and slowly said: "When the market was closed this morning, the total market value of China Gas was more than 1.369 billion Hong Kong dollars. After the market opened in the afternoon, it was still falling, so count it. 1.37 billion Hong Kong dollars as the base."

"On this basis, I purchased the equity held by your company at a premium of 30%."

"Mr. Li, what do you think?"

The base is 1.37 billion Hong Kong dollars, and the value of 26.4% of the equity is 361.68 million Hong Kong dollars.

Another 30% premium is just over 470 million Hong Kong dollars!

Li Zhaoji quickly calculated in his mind and came up with a number.

This number is undoubtedly much lower than before the stock market crash.

He remembers clearly that before the battle between the Jiuding Consortium and the Taikoo Consortium, the peak market value of China Gas was HK$3.2 billion, and the paper value of his equity was more than HK$840 million.

Now it has shrunk a lot!

Li Zhaoji smacked his lips, pondered for a moment, and said with an embarrassed expression: "Mr. Xia, is this price too low? Let’s not talk about the market value of the Hang Seng Index after 1,800 points. Before that, my equity, others thought Buy, there is no need to talk about 1.2 billion Hong Kong dollars."

Xia Yu knew that Li Zhaoji would not fail to understand, saying that it was nothing more than trying to raise the price.

However, Xia Yu couldn't really agree with him. The difference between the amounts was huge. He was here to buy the bottom, not to be taken advantage of.

Therefore, Xia Yu bluntly retorted: "Mr. Li, you can't say that. Before, we had to speak based on facts. No matter how high the market value of China Gas was before, the situation is different now."

"When the stock market crash came, no one knew what the future would be like. The stock market crash in 1973 took six or seven years to ease off. Even if it was a small stock market crash, it was five years."

"If I buy this equity at the previous high price, it will take five years before the stock price rises back to the previous high, and the value of the equity is the same as the capital I invested."

"But according to the current bank borrowing interest, taking a loan interest rate of 16% of the median value, the interest of 1.2 billion Hong Kong dollars for five years will be more than 960 million Hong Kong dollars. I may not be able to return for ten years. this."

"And five years later, the money can't be compared with the current money."

"If you buy equity and assets in the hands of other people now, will you use the current price or the previous price?"

Li Zhaoji hit a haha, didn't feel embarrassed, and smiled and defended himself: "Mr. Xia, I didn't mean that I wanted to follow the previous high price, but just make a price comparison."

"You have said so much, but I also have a point of view. After all, China Gas is different from other companies. It is the only gas production, transportation and supplier in Hong Kong, and the only Hong Kong-wide central pipeline gas supplier. It has Irreplaceable monopoly."

"Although the stock market crash has caused many assets to depreciate, the price of gas used by residents will not change, so the profit of China Gas will not drop much."

"The 30% premium price is indeed lower. I think 80% is more pertinent, and Hu Baoxing has no opinion on the price."

Xia Yu immediately retorted: "Mr. Li, you mentioned the monopoly of China Gas Company. This is a fact, but it is also because of its monopoly that, as a public utility company, it is also the company with the highest P/E ratio in that field. It is much higher than the price-earnings ratios of public utility companies such as China Light and Power Company and Kowloon Bus Company that I have acquired before. I know this very well."

"Even if the stock price has fallen now, China Gas's P/E ratio is still at the current high level."

"As for the profit you mentioned, it will definitely drop sharply. There are not a few companies that go bankrupt in the stock market crash, and the company's gas consumption will be greatly reduced. Residents will definitely subconsciously save gas consumption because their wallets are not enough..."

"The premium of 80% is too ridiculous, but since you have spoken, I will not refund or give you face, so let's add another five points to the premium."

...

Although Xia Yu and Li Zhaoji were negotiating, they both exercised restraint and cared about the atmosphere to avoid hurting their peace. The negotiating style is entirely reasonable.

If you feel that what the other person said is reasonable, take a step back consciously.

In the end, Xia Yu was slightly better. When the price was set at a premium of 50%, Li Zhaoji could not say anything.

"Mr. Xia, your eloquence is so good, I can see it today, I have to admire it."

Li Zhaoji said with a wry smile, and returned Xia Yu with tea.

Xia Yu smiled slightly and said to himself: "It's too good, but Mr. Li, you don't want to argue with me too much."

Li Zhaoji smiled and shook his head and said, "Mr. Xia is too humble."

After smiling, Li Zhaoji narrowed his smile and said to Xia Yu: "Mr. Xia, I personally have no problem with the 50% premium, but tonight I have to ask Hu Baoxing to see what his attitude is. I will give it early tomorrow morning. What do you think of your reply?"

Xia Yu smiled and nodded: "No problem, then I am waiting for your good news."

Li Zhaoji joked: "I'm not sure if it is good news."

"Haha..."

...

After sitting for a while, Xia Yu bid farewell and left in peace.

He didn't worry that Hu Baoxing would disagree. Given Li Zhaoji's shareholding ratio and status in Yongtai Jianye, just now in the negotiation that he wanted to ask Hu Baoxing's opinion was nothing more than an excuse, leaving himself room for negotiation.

If Li Zhaoji really had no right to decide, he would not talk to him about the 50% premium alone.

He only needs to prepare the funds and the lawyer is ready to sign the contract tomorrow.

The facts are just as Xia Yu expected. After he went to work the next day, he received a call from Li Zhaoji and talked about the process of "convincing Hu Baoxing", and then asked him when he would sign up.

The equity was safe, so Xia Yu immediately told him to come right awayAfter hanging up the phone, he took good people to Henderson Land Development Company and signed the acquisition contract with Li Zhaoji.

At 9:32 in the morning, the contract was signed, and the purchase price was 542.52 million Hong Kong dollars. It would take three days for the funds to be deposited into Yongtai Construction's account in Jiuding Bank before the contract would take effect.

Xia Yu didn't ask Li Zhaojito to wait. After leaving, he asked Liu Tianci to pay the money. Before ten o'clock, he transferred the money to the account of Yongtai Jianye Company and notified Li Zhaoji.

In the next two days, Xia Yu visited Li Mingze of Lijia and Li Fushu, Chairman of The Bank of East Asia, and purchased them at a premium of 35% and 25% respectively. A total of more than 386 million Hong Kong dollars was spent on the 6.5 and 5.1% equity.

In addition to the 12.8% equity that Jiuding Securities bought during its investment in the past two years, the 11.2% equity originally held by Hang Lung Bank acquired by Jiuding Bank, and Standard Chartered Bank Holds 6.4% of the equity.

Xia Yu holds a total of 78.4% of China Gas.

Then Xia Yu gathered all these shares and put them under the banner of Jiuding Energy Group.

Among the heated discussions, the first thing after Jiuding Energy Group took over the China Gas Company was to apply to the exchange for delisting and privatization.

Following the electric power, the gas market was monopolized by the Jiuding Consortium, and those with good deeds privately gave Xia Yu another domineering title-King of Xiangjiang Energy.

The China Gas Company became the first company to take the initiative to apply for privatization before the stock market crash was over. Many bigwigs with capital seemed to have heard the clarion call of the charge and started to act.

ps: I ask for a recommended monthly pass. I will add another one tonight, but it will be later. Don't wait, let's see it tomorrow.