Chapter 750: Hutchison Whampoa and Arrangements

Qi Dezun looked at Shen Bi solemnly, and was shocked: "Could it be that HSBC also supports Yang Wendong?"

His original plan was to use the conflicts between different creditor banks to balance all parties and restrict Yang Wendong, but if HSBC also stood on Yang Wendong's side, and Hang Seng would do the same, these two companies would basically account for half of Hutchison Whampoa's debt.

After hearing this, other shareholders immediately started discussing it in a bustling manner. Many people felt that there was some truth to it. Yang Wendong started from scratch and built the largest top consortium in Hong Kong in more than ten years. He also defeated Jardine Matheson and acquired Wharf Holdings. Now, under his management, Wharf Holdings is also developing rapidly, and even Harbour City seems to be almost completed.

Shen Bi smiled and looked at the discussion group behind him. After waiting for a while, he said, "Mr. Yang, what do you think of this suggestion?"

"Hutchison is now heavily in debt and indeed needs a major overhaul." Yang Wendong did not answer directly.

Shen Bi continued: "Yes, now it seems that in the whole of Hong Kong, only Mr. Yang has this ability."

"I also support Mr. Yang to take over Hutchison." A shareholder suddenly said, not sure if he was a shill;

But after hearing this, other shareholders also agreed one after another. On the one hand, they had suffered heavy losses from the stocks they held. On the other hand, they also trusted Yang Wendong, after all, he was a legend in Hong Kong.

At this time, a British guy who had a large stake said, "In that case, Qi Dezun, why don't you resign voluntarily? Or wait for our shareholders' meeting to vote and kick you out?"

"Hmph, Loki, since when did you stand on the side of the Chinese?" Qi Dezun asked coldly.

Loki laughed and said, "Qi Dezun, you are still living in 20 years ago. Now in Hong Kong, there is no distinction between Chinese and foreigners. Whoever can bring profits to everyone will be promoted, right, everyone?"

"Yes, yes." Many people immediately agreed: "Qi Dezun, why don't you go down?"

Too many people are clamoring for Qi Dezun to step down. The truth is that over the years, Hutchison's market value has dropped from nearly 80 billion at its peak to 6 million today. Those who ended up losing money suffered heavy losses. They wish they could skin Qi Dezun alive!
Richard Xin saw that the situation was out of control, and hurriedly said: "Everyone, since this is a shareholders' meeting, let's hold a shareholder vote?"

Qi Dezun glanced at Richard's letter. He had not asked him to say this, but when he thought about it, it made sense. This was the only way for now. However, if he voted, he would definitely lose.
Even if Yang Wendong was not there, it would be very difficult for him to keep his position. He was indeed to blame for He Huang's loss. Even if he had made great achievements in the past, that was in the past.

Soon, representatives of the Hong Kong Stock Exchange began to vote, which took about an hour. The final result showed that 59.15% of the people supported Qi Dezun's resignation, which exceeded 50.1%. It would be difficult for Qi Dezun to stay.

And Yang Wendong was naturally chosen and successfully took charge of the Hutchison Group;

"Congratulations, Mr. Yang." Shen Bi was the first to say with a smile.

The other shareholders clapped their hands excitedly. They believed that under Yang Wendong's leadership, Hutchison would surely be able to revive. In other words, this was the only hope.

Qi Dezun's expression did not change at the top. In fact, he knew that he could not pass this hurdle, and the only ones who could really protect him were the management.

Yang Wendong smiled and said, "Thank you, Mr. Shen Bi."

Shen Bi continued, "Haha, you're welcome. I just said a few more words. Similarly, as a creditor bank, I also hope that Hutchison can return to normal as soon as possible, and then have more cooperation with HSBC."

"Okay, no problem." Yang Wendong nodded and agreed;
Shen Bi was so generous in his efforts, so Yang Wendong naturally gave him face. In the past ten years, although he had invested a lot of real estate in Hong Kong, the proportion was not high, and he also moderately supported Chinese banks, and his cooperation with HSBC was not very much;

But now that he has successively acquired Wharf Holdings and Hutchison Whampoa, these two companies have too much land in Hong Kong that needs to be developed, plus the land price will rise sharply in the future, which means that his capital demand in Hong Kong in the future will be much higher than before;

Hang Seng Bank cannot cooperate directly with Changxing Group and its subsidiaries, so its best partner in Hong Kong is indeed HSBC. It can also cooperate with other Chinese or foreign banks in moderation to ensure a balance.

Shen Bi smiled and said, "Okay, then He Huang will rely on Yang Sheng."

The shareholders' meeting vote was over, and naturally it was almost over. Next, it was Yang Wendong's turn to take over Hutchison Whampoa;

At this point, it actually doesn’t matter how many shares Yang Wendong holds, even if it’s less than 1%, as long as he is chosen by the shareholders’ meeting, he will have supreme power;

After the meeting, Yang Wendong calmly went to a meeting room nearby with Qi Dezun and others, and said to Qi Dezun: "Qi Dezun, things have come to this point, I still want to talk to you and give you one last chance. You can stay in this position and continue to be the manager of Hutchison, but you need to follow my orders. I will also arrange people to be responsible for Hutchison's finances and personnel."

"Mr. Yang, Hutchison's business is very complicated. I'm afraid your people can't control it." Qi Dezun shook his head and said.

"It seems that you are unwilling, so I can only ask you to leave." Yang Wendong sighed and said, "I will give you an additional compensation of one million Hong Kong dollars, but the prerequisite is that you need to fully hand over your work."

Qi Dezun smiled and said, “Mr. Yang, if I leave, then the various departments of Hutchison will only get into bigger troubles, and they just listen to me.”

"Are you threatening me?" Yang Wendong asked. Qi Dezun said, "It's not a threat, but a negotiation. In fact, our cooperation is perfect. Mr. Yang, you can raise funds to obtain the highest controlling stake in Hutchison, and Hutchison can also obtain a sum of money to survive this period.
You don't need to spend energy on management. You can just wait for the real estate industry to recover. With my ability, I can definitely revive Hutchison Whampoa and the stock price will soar. Isn't this the best of both worlds?"

For big capital like Yang Wendong, who took advantage of the low stock price to invest heavily in his company, he really couldn't resist, the gap in capital level was too big;
But the management of Hutchison Whampoa are all his own people, and he has also given them enough benefits, which Yang Wendong would never give. As long as the management is united, even the controlling shareholder cannot be too tough. After all, in a lose-lose situation, the rich will lose more.
"Well said, but unfortunately, I can do the same myself." Yang Wendong took a list from the assistant behind him and threw it to Qi Dezun, saying: "I will also dismiss these people. If you cooperate, I may give them appropriate compensation. Otherwise, there will be nothing. And I will also ensure that they can't find better jobs in Hong Kong or even the UK."

Qi Dezun was stunned when he heard Yang Wendong's tough tone. Then he looked at the list, his face changed drastically, and he asked angrily: "How do you know these people?"

These people were also a group of people united under him, and they were also the basis for preparing to fight against Yang Wendong. However, Yang Wendong knew about it. There was only one possibility, that one of his subordinates betrayed him;

Yang Wendong smiled faintly and said, "Don't worry about how I know this. You can take these people away."

"Richard Xin, is it you?" Qi Dezun looked at the list again and found that there was no Richard Xin and no small group he trusted. He immediately knew what was going on.

Richard Xin did not deny it and said, "I am just doing what I should do. I am an employee of Hutchison Whampoa, not yours, Qi Dezun. I should be responsible for being the major shareholder of Hutchison Whampoa."

According to the agreement between him and Yang Wendong, he will serve as the head of Hutchison Daxin. This matter will be announced to the public soon. By that time, Qi Dezun will also know about it, so there is naturally no need to deny it now;
"Since you betrayed me, it seems that you can become the new boss of Hutchison Whampoa." Qi Dezun said coldly: "But at most, you can only be a puppet."

Richard replied nonchalantly: "It's the same if I follow you, isn't it?"

Qi Dezun was speechless for a moment. From his point of view, working for Yang Wendong was naturally not an option, but for Richard Xin, it made no difference.

Yang Wendong said: "Qi Dezun, you know that even if you continue to stay in this position today, you will leave sooner or later. No matter what, I am the controller of Hutchison Whampoa in legal terms, and no matter what means you use, it will be useless.

I think you should accept my terms, take the money and leave, and transfer to a good job with peace of mind. This will be good for both you and me. If you continue to start a business in the future, I can also help you appropriately. "

"No need for compensation. Since Richard Xin has surrendered to you, with his ability, I think he can handle it even if I don't hand it over. This can be considered a test for him." Qi Dezun saw that the situation was hopeless and stopped forcing it.
As for the compensation, it means nothing to him. In more than ten years, he has transformed Hutchison from a medium-sized trading company into a top giant and gained a lot of benefits from it. He doesn't need a mere one million Hong Kong dollars at all. It is better for him not to take the money to avoid being criticized by others in the future.

Yang Wendong nodded and said, "Okay, then let's follow the Chinese saying and part ways amicably. We will still be friends in the future."

No matter what, Qi Dezun was not an opponent. He was once a partner. As for his final non-cooperation with him, it was also normal. After all, everyone wanted to make a final effort for their career, and the whole process was within the business rules.
As for the future, there is not much future. Qi Dezun is not young anymore. Even if He Huang continues to be successful, he should retire soon. According to history, he died in the early 80s, which is only a few years away from now. However, Yang Wendong is not sure why he died.

Time is actually everyone's biggest enemy. No matter if it is an ancient emperor, a modern president or the head of a big chaebol, no one can withstand time.
Qi Dezun nodded and said, "Okay, then I wish you good luck."

Soon, Qi Dezun left. Yang Wendong smiled faintly and said, "Well, the matter is over. Next, we still need to deal with the mess of Hutchison Whampoa."

Although he is confident in the future of Hutchison Whampoa, others are not. Hutchison Whampoa still needs to return to normal as soon as possible, at least to avoid falling into a debt crisis.

Richard Xin said awkwardly: "Mr. Yang, judging from the current situation, if there is no additional capital coming in, there is really no way to save Hutchison. Now we can't even pay salaries internally."

"In terms of funds, I will first conduct share expansion financing for Changxing Financial." Yang Wendong said: "According to the current market value of Hutchison Whampoa of 6 million, I will increase my shares by about 30%, which means that I will invest about 2.5 million yuan."

After the share increase, Hutchison's theoretical market value will reach HK$8.5 million, and the 2.5 million invested by itself will give it a 30% stake;
The 28% shares that he previously held would be diluted by about 20%, so he would have a legal shareholding limit of 49.9%.

Of course, he also secretly holds some stocks, but the amount is not high. It is enough for him to hold most of Hutchison's interests.
This is still on the surface. In fact, he can also use the method used by Qi Dezun, such as letting Changxing Real Estate, a wholly-owned enterprise, cooperate with him to develop land, and share the final profit in half, or purchase at a lower price, etc. If he wants to arbitrage, then taking 70% to 80% is not a problem, and it is completely legal.

The rest can be given to other shareholders. As long as the market performs well, they can also get generous returns, thus supporting themselves in reverse. In addition, the stock market itself is also a good ATM. When the time is right, they can directly get a large amount of funds.
Of course, this is a matter for the future. Hutchison is facing many crises right now, and we absolutely cannot suck blood at this time. Smart people must grasp the exact timing and not be too greedy.

Richard Xin's eyes lit up and he said, "That's great. With 2.5 million, it won't be a problem for Hutchison to sustain for another year."

After Yang Wendong's investment, not only will the funds be directly deposited into his account, but the trust in bank loans will definitely increase significantly. As long as the real estate industry recovers a little bit, Hutchison will have some hematopoietic ability, and there will be no problem at all.
At this time, Fang Xianming reminded him, "There is one more thing. Hutchison is now yours, Mr. Yang. According to the Banking Act, you cannot cooperate with Hang Seng. This loan must either be repaid or transferred to other banks."

"Well, please inform Ho Shan Heng about this matter. It is impossible to pay it back in the short term. Let him find a way to sell it. He cannot sell it to HSBC. See if Standard Chartered, Citibank or Japanese banks are willing to accept it." Yang Wendong said after thinking for a while.

Although we are prepared to cooperate with HSBC, there must still be a debt balance. It would not be good if HSBC holds too much of Hutchison's debt.

Fang Xianming agreed, "Okay, Mr. Yang."

Yang Wendong then asked, "Richard Xin, how do you think Hutchison should operate next?"

PS: Please give me a monthly ticket
(End of this chapter)

previouscatalognext