Chapter 765 The Jianing Empire is about to collapse!

Author: The creeper on the fence

Chapter 765 The Jianing Empire is about to collapse!

October 4, 1982.

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, there was news in the Hong Kong media that there were two major Chinese business empire groups in Hong Kong.

The first one is none other than Sir Yang’s Imperial Group.

The second one is none other than Chen Songqing’s Jianing Group.

However, Yang Ming knew that Chen Songqing's fox tail would soon be exposed, and the hole in the 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."

Merliss sat down opposite Yang Ming.

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

"We have always purchased 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 to Mailisi and others several times that Chen Songqing was a liar. Mailisi and others also noticed that Chen Songqing and Jianing Group did have problems.

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

Last month, on September 26, Carin suddenly announced its interim results, with a profit of HK$270 million, an increase of 2.75% from the previous year, and an interim dividend of 1.2 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 Jia Ning Group releases its mid-term performance profit, 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, it also borrowed a lot of money from other banks by taking advantage of Huifeng Bank's reputation.

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 Jianning's 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 him, 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 was able to obtain loans easily was Chen Songqing herself.

Simply put, his methods knocked down many bankers, who felt that Chen seemed to have inexhaustible funds and powerful power. Chen Songqing was a collector of famous paintings from country F, and his collection was 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, Jiani had become a large-scale diversified enterprise group in Hong Kong, with more than 100 subsidiaries, including three listed companies, Jiani Real Estate, Vinda Shipping and Chang Life Insurance.

Close to major British banks with a long history such as Wheelock, Swire, etc.

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 1.3 billion Hong Kong dollars, which may make him bankrupt.

He tried to withdraw, regardless of the consequences for his partners. He also discovered that Chen Songqing was using his shares for personal gain and harming 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 people 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 dangerous situation is 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 1,405 points at the beginning to 1,150 points at the end of July, a drop of 18%.

On September 22, 1982, Mrs. Satchell took advantage of the great victory in the Falklands battle to visit Yanjing and proposed exchanging sovereignty for governance. However, she was rejected by the old man. As a result, she made a historic fall in the Great Hall.

The fall shocked the world.

When the news reached Hong Kong, the already exhausted stock market and property market fell accordingly, and the difficulties of Jia Ning 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 Mai Lisi 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 comparable to that of Wheelock and Swire. How could it be that it was about to collapse?

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