OBS Chapter 36: Press Conference, Information Leak
Chapter 36: Press Conference, Information Leak
Two days later...
Friday, October 27th.
Lobby of the headquarters of "Hong Kong Electric".
Dozens of reporters had already taken up advantageous positions, their cameras and microphones aimed at the podium.
There were probably more than thirty media outlets present.
These include Ming Pao, Ta Kung Pao, Sing Tao Daily, Xinhua Daily, as well as Hong Kong Radio and Television, TVB, etc.
Following a period of liquidation and shareholding restructuring, the handover of HK Electric has been completed. Today marks the official press conference announcing the transition of power between the old and new administrations.
Although Hong Kong Electric has changed from a British-owned joint-stock company to a Chinese-dominated listed company, its nature as a public utility remains unchanged. The British and Hong Kong governments have made it clear that all financial, operational and strategic planning must be open and transparent and subject to public supervision.
9 o'clock exactly.
Li Jiagang was dressed in a dark gray bespoke suit, exuding an exceptionally noble air. He walked steadily and unhurriedly toward the podium.
Behind him were several senior executives from Hong Kong Electric.
General Manager Neil Hua, Chief Power Plant Engineer Torslen, Deputy General Manager of HK Electric and Head of Lamma New Power Plant Li Haimei, and Chairman's Agent and Head of Real Estate Project Huo Jianning.
After sitting down.
Li Jiagang's sharp gaze swept over the densely packed reporters below the stage, his voice deep yet penetrating: "Good morning, fellow reporters."
"Welcome everyone to attend the press conference so early to summarize the handover work of HK Electric and announce the company's future development plans."
Today is not a farewell.
I believe this is a rebirth.
The joint ownership of Xiangjiang Electric Group has become a thing of the past, officially ushering in a new era dominated by Chinese, professionally operated, and open and transparent.
"During the handover process, HK Electric completed the final round of internal integration and resource planning."
From this moment on, Hong Kong Electric will no longer be just an organization that provides electricity to illuminate every household; it will become the engine of Hong Kong's energy transformation.
The company has launched the "Bright Future Project"—investing HK$1 billion over the next five years to comprehensively upgrade aging generating units, construct a new power grid system, and build a new high-voltage power station on Lamma Island.
As soon as he finished speaking, the audience erupted in uproar.
The reporter from the Hong Kong Economic Journal immediately raised his hand: "Mr. Li, may I ask where the funding for the 'Bright Future Project' you just mentioned comes from? Has it received support from HSBC or the government?"
Li Jiagang tilted his head slightly, and Huo Jianning immediately handed him a document. After opening it, he said calmly, "The funds will come in three parts."
First: the company's own cash flow.
Second: I will announce it later, but please allow me to keep you in suspense for now.
Third: Hong Kong Electric Company Limited (HK Electric) has reached an agreement with HSBC's Sir Michael Sandberg, under which HSBC will provide HK Electric with a HK$500 million low-interest green loan over a ten-year period should HK Electric require funding.
The reporters in the audience murmured amongst themselves.
Li Jiagang's words conveyed that HSBC's Sir Michael Sandberg's commitment was not only a financial guarantee, but also a declaration of HSBC's absolute support for Hong Kong Electric.
Li Jiagang lowered the reporters' voices.
He continued...
"In addition, this is the second part of the three sources of funding that I just mentioned for HK Electric."
"After the consolidation, HK Electric discovered that many high-quality land parcels had been vacant for a long time and that there was a large amount of cash flow to fill the gap. Therefore, the company officially announced the establishment of a real estate development department to enter the real estate industry."
Click click click!!
As Li Jiagang finished speaking.
A group of reporters frantically took pictures of him.
Then a voice asked again, "Go to Lijiagang."
"Mr. Li, I'm a reporter from Ming Pao. Hong Kong Electric Company has always operated in the lighting industry. Do you have any experience in this area, venturing into the real estate sector so abruptly?"
Li Jiagang smiled calmly and showed the reporters the agreement reached just last night.
"The Ming Pao reporter asked a good question. Hong Kong Electric has always been engaged in the lighting business and indeed lacks experience in real estate development and construction. Therefore, Hong Kong Electric will jointly develop the project with Cheung Kong Holdings, one of the five major real estate companies in Hong Kong."
"This is a contract signed with Cheung Kong Property Holdings Limited."
Click click click!!
The camera flashes were constantly going off.
The Ming Pao reporter pressed further: "Mr. Li, there are rumors circulating that there is political maneuvering behind this shareholding change. Are you worried about a backlash from British capital? Will Jardine Matheson, Hongkong Land, and others take action against you?"
Li Jiagang's lips curled up slightly, revealing a faint smile: "A game of strategy? Hong Kong's business has always progressed through a game of strategy."
As for the political "game" you mentioned, that simply doesn't exist. Let me make it clear to everyone that I, Li Jiagang, am just an ordinary person.
I don't consider myself qualified to participate in political "games," so please don't spread rumors.
As for whether they are worried about being targeted by foreign firms.
Ha ha! ! !
Hong Kong isn't a big city, and everyone here is in business, so some friction is inevitable. I don't think this is targeted; it's just normal business behavior.
Li Jiagang handled the reporters' questions with ease.
In his original world, he had faced reporters quite often, so he knew how formidable they were and how often they would ask tricky questions.
Why would he easily step on a landmine?
Even now, when he's locked in a fierce battle with Jardine Matheson or other foreign firms, that's a private matter.
Once it's put on the table to be discussed...
That would be a completely different matter.
Others will say he's immature.
Just then, a reporter in the back row suddenly shouted, "Mr. Li! There are rumors that you have secretly acquired shares in Qingzhou Yingni. Is this true? Does this mean you will use the linkage between cement and electricity to monopolize Hong Kong's infrastructure?"
The reporter's question was posed.
Li Jiagang was immediately shocked. If his mentality had not been tempered and matured through countless trials, he would probably have lost his composure at this moment.
At the same time, he wondered how the reporter knew about this, since he had only just begun to have Wang Fusheng contact the people of Qingzhou Yingni.
This is how the reporters found out.
He wondered if Wang Fusheng had betrayed him and deliberately leaked the information.
But he quickly dismissed the idea.
He believed that Wang Fusheng wouldn't be so foolish as to deliberately leak the information, unless he didn't want to live anymore.
"Could it be Shen Bi?"
He thought it was even more impossible when he thought of Shen Bi.
It's likely that Wang Fusheng accidentally leaked the information while contacting someone who held shares in Qingzhou Yingni.
Li Jiagang remained expressionless. He slowly closed the document, his face calm and collected as he said, "Qingzhou Yingni?"
"Reporter, are you talking about that cement plant that's been losing money year after year?"
"Thank you for thinking so highly of me."
"I didn't even know about this myself, so I don't know where this comes from. I hope this reporter will investigate thoroughly before asking questions next time."
"At the same time, I have just completed the integration of Hong Kong Electric Company and established a real estate company. I really don't have any extra funds to acquire other companies."
Li Jiagang casually avoided the topic.
He certainly wouldn't be foolish enough to admit it.
If they admit it, wouldn't that be blatantly telling those who hold Qingzhou Yingni shares, "I'm coming to acquire you, so get ready to raise prices"?
Li Jiagang isn't stupid, how could he do something so foolish?
The press conference concluded perfectly after reporters asked several questions, and Li Jiagang left in a hurry.
After returning to the office.
He contacted Wang Fusheng immediately.
Wang Fusheng, who arrived in a hurry, was timid and hesitant in front of Lijiagang. He already knew that the reporter had asked him about Qingzhou Yingni at the Lijiagang press conference, so he felt deeply apologetic.
"Young Master Li, regardless of the circumstances, I apologize first," Wang Fusheng bowed deeply to Li Jiagang. "I can guarantee that no information was leaked. I really don't know how that reporter found out."
In fact, Li Jiagang knew that it was definitely not Wang Fusheng who leaked the information.
He was also wondering how the reporter knew.
But regardless, now that this matter has been discovered, even if he denies it, Li Ka-shing will definitely be on guard when the report comes out tomorrow.
Although Li Ka-shing and a group of Chinese businessmen have already gone to the mainland and are no longer in Hong Kong, who knows if this business genius has left behind a hidden move?
He wouldn't dare gamble on Li Ka-shing's thinking.
This will also attract the attention of Jardine Matheson.
If Yihe intervenes, it will likely make it extremely difficult for him to take over Qingzhou Yingni.
Even if he manages to win in the end, it might come at a higher price, and he doesn't want that to happen.
Let's not talk about that now.
"If I asked you to acquire at least 30% of Qingzhou Yingni's shares today, or even more, are you confident you could do it?"
At last night's celebration banquet.
In addition to the collaboration with Li Ka-shing to develop part of his "Hong Kong Electric" land, Li Ka-shing's business is also involved.
He also privately approached Shen Bi, telling him about his desire to acquire Qingzhou Yingni and hoping to obtain his financial support through a loan.
Shen Bi agreed without hesitation.
That's why Lijiagang now has the confidence to assign this task to Wang Fusheng.
"30% equity stake today?"
Wang Fusheng swallowed hard and said, "Young Master Li, I can only be confident if I get a premium."
"Then we'll offer a premium, keeping it below 10%, and we must acquire more than 30% control by today."
"Yes, Young Master Li."
Even if he pays a 10% premium to acquire a 51% stake, based on the current market value of Qingzhou Yingni, he would only spend about HK$1500 more at most, which Li Jiagang doesn't care about.
But if he waits for the news to get out before taking action, he's certain that Jardine Matheson will intervene, and it will be troublesome if Li Ka-shing's hidden agents also start moving.
By then, if he wants to acquire Qingzhou Yingni, he will have to pay more than just 1500 million.
So he has to be quick.