Chapter 765 The Jianing Empire is about to collapse!

Chapter 765 The Jianing Empire is about to collapse!

1982 10 Month 4 Day.

Monday.

The day after Yang Ming returned to the mid-level villa in Repulse Bay.

Early this morning.

When Yang Ming got up, he found that the weather in Xiangjiang was still very hot. He went to the swimming pool to swim a few laps and felt much more awake.

Yang Ming got up, went upstairs, changed into a set of clothes, and came down, and had breakfast with Yang Jirong and his wife in the garden restaurant.

Yang Ming noticed the news about Jianing Group.

This Jianing Group is probably about to collapse.

Last year, the news media in Xiangjiang promoted Chen Songqing's Jiani Group as the Jiani Empire.

At that time, the media in Hong Kong reported that there were two major Chinese business empire groups in Hong Kong.

The first one is Sir Yang’s Imperial Group.

The second one is Chen Songqing’s Jianing Group.

However, Yang Ming knew that Chen Songqing's fox tail would soon be exposed, and the hole in Jianing Group was even more terrifying than the Chinese banks in Xiangjiang.

Yang Ming put the newspaper aside and finished breakfast with his parents.

"Daddy, Mommy, I'm going to work."

Yang Ming got into the Rolls-Royce and headed to the Imperial Group.

Come to the Imperial Group.

Lin Xiuzhi has come to work early.

"Boss, morning."

"You will ask Meris to come see me soon."

"Yes, boss."

Lin Xiuzhi first made a cup of coffee for her boss, then went to the general manager's office next door and called Meris.

"boss."

Meris sat down opposite Yang Ming.

"Mailisi, how is the property acquisition going now?"

“We have been acquiring properties in Xiangjiang at low prices, and they still look very good.”

At this time, the prices of too many properties in Xiangjiang have dropped. It can be said that the properties in Xiangjiang are all at a price but not marketable. Now that the Imperial Group has purchased those properties at a low price, many people have just sold them.

These are all going according to plan.

Now in Xiangjiang, in addition to Yang Ming, Li Jiacheng also sees that now is the opportunity to enter Xiangjiang real estate. However, Li Jiacheng has no money and can only watch.

"Mailisi, do you know anything about Jianing Group?"

"Boss, who are you talking about, Chen Songqing?"

Yang Ming mentioned Chen Songqing as a liar several times in front of Mailisi and others. Mailisi and others also noticed that Chen Songqing and Jianing Group did have problems.

However, before that, Meris didn't pay much attention.

Last month, on September 9, Carin suddenly announced its interim results, with a profit of HK$26 million, an increase of 2.7% from the previous year, and announced an interim dividend of 2.75 cents per share.

It seems that the mid-term results released by Carnegie Group are not high.

However, after all, this year involves a sharp decline in property prices. If Jianing Group releases its mid-term performance profits, it will still be considered good in the eyes of many financial analysts.

Yang Ming knew that this data was fake, and not many people knew about it.

At the end of last year and the beginning of this year, Jianing Group borrowed a lot of money from Huifeng Bank and Shen Bi. In addition, using the reputation of Huifeng Bank, it also borrowed a lot of money from other banks.

Chen Songqing and Jianing borrowed money from banks, usually using their stocks or properties as collateral.

Generally speaking, bank loans are limited to 50% of the stock's market price. If the stock price falls, the lender will have to take out more stocks or pay off part of the loan.

Chen Songqing fully understands the reason, so he pays great attention to the rise and fall of Jiani stock.

For this reason, he does not hesitate to use various methods to "support the market", or constantly make big statements, or "leak" information that is beneficial to himself, or buy his company's stocks at high prices, causing his company's stock price to continue to rise, which makes people feel There is a very active market for these stocks.

In this way, using stocks as collateral will be accepted by banks when applying for a loan.

Another reason why Jia Ning can easily borrow money is Chen Songqing herself.

Simply put, his methods knocked down many bankers, who felt that Chen seemed to have endless funds and powerful power. Chen Songqing is a collector of famous paintings from country F, and his collection is often hung in his office.

In 1982, Chen Songqing owned five Rolls-Royce cars. According to a local Rolls-Royce agent, this is the highest number of such cars owned by individuals in Hong Kong except Sir Yang, chairman of the Empire Group.

With the support of a steady stream of funds from banks, Chen Songqing launched a dazzling acquisition activity.

By its peak period in mid-1982, Caring had become a large-scale diversified enterprise group in Hong Kong, with more than 100 subsidiaries, including three listed companies, Caring Real Estate, Vinda Shipping and Chang Life Insurance. Close to major British banks with a long history such as Wheelock and Swire.

However, after experiencing turbulent development, Jianing Group failed to consolidate its achievements in time. Perhaps it involved too many fraudulent elements in its business transactions to consolidate.

In 1982, the god of luck no longer favored Jianing, and Jianing Group began to gradually fall into trouble due to changes in the external economic environment.

At this time, its main collaborator, Zhong Zhengwen, chairman of Yida Group, woke up earlier than Chen Songqing. He discovered that the five projects he and Chen Songqing collaborated on made him in debt as high as 13 billion Hong Kong dollars, which may make him bankrupt.

He tried to pull away, regardless of the consequences for his partners. He also discovered that Chen Songqing used his shares for personal gain and harmed his interests.

So, he decided to have a showdown with Chen Songqing and asked Chen to let him escape on favorable terms.

Zhong Zhengwen sent someone to investigate Chen Songqing's early activities. Since he could expose the whole thing, Chen Songqing had to give in to what was actually a commercial extortion and reconcile with Zhong Zhengwen.

The terms of the settlement caused greater harm to the Jianing Group.

At this time, the external economic environment that had been conducive to Chen Songqing's expansion began to reverse rapidly.

In fact, since the second half of 1981, the world economic recession has caused a sluggish economy in Hong Kong. Interest rates have been high, the Hong Kong dollar has depreciated, internal consumption has shrunk, and corporate profits have declined. In addition, the future of Hong Kong has gradually been put on the agenda. Unstable factors have emerged one after another.

After seven or eight years of ups and downs, the real estate market in Xiangjiang has reached its peak. The vacancy rate of various properties has reached an extremely high level. The so-called high position and danger are already quite dangerous.

By the second half of 1982, the situation had worsened. The Hang Seng Index, which reflected changes in market confidence, had dropped from 1405 points at the beginning to 7 points at the end of July, a drop of 1150%.

On September 1982, 9, Mrs. Sutter took advantage of the victory in the Falklands battle to visit Yanjing and proposed exchanging sovereignty for governance. The old man rejected it, and she made a historic fall in the Great Hall. A fall that shocked the world.

When the news reached Xiangjiang, the already exhausted stock and property markets fell accordingly, and the difficulties of Jianing Group quickly surfaced.

As for the interim results announced by Jianing Group at the end of last month, it was just used to continue to deceive investors.

"Jianing Group will collapse soon."

Yang Ming looked at Meris and said.

At this time, not only Mailisi was shocked, but Lin Xiuzhi was also very shocked.

After all, the market value of Carining Group was still very high at this time, with hundreds of companies under it, and the scale was even called Wheelock & Co., how could Swire & Co. collapse?

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