Chapter 979 The Shi Yahuai Family Is Powerful but Overly Cautious

Chapter 979 The Shi Yahuai family is powerful but overly cautious

In order to effectively implement his strategy of curbing Hong Kong's housing prices, Xia Yu tilted his working hours to the real estate field.

He went to Jiuding Real Estate Group for many times, made on-the-spot inspections and made important instructions based on his own experience and memory, which made Liu Shihao quickly clarify the direction and context of his actions.

Another week later...

Liu Tianci and Gals Liddell worked together to sort out the information and present it to Xia Yu.

In front of this information, the Taikoo Consortium and Shi Yahuai's family were like naked **, and they had almost no secrets in front of Xia Yu.

It has to be said that the Taikoo Consortium is worthy of being the second among the original four major British consortiums. After the Hong Kong stock market has risen, its strength is increasing day by day. Except for Xia Yu, none of the other Chinese bigwigs are its opponents.

Even the Wheelock consortium is now being pulled farther and farther by the Swire consortium.

The development of the Swire Consortium cannot be separated from the shrewdness and prudence of the Shi Yahuai family.

However, because of the prudence of the Shi Yahuai family, the debt ratio of the Swire consortium and the Shi Yahuai family itself is not low.

In the information in Xia Yu's hands, in order to facilitate reading, the unit is unified in Hong Kong dollars, and the assets are converted according to the exchange rate.

And because only some companies in the Swire Group are listed, in the statistics, listed companies calculate the amount of assets according to market value, and unlisted companies calculate the amount of assets according to actual assets, and the two are combined together.

Although this calculation is definitely not so rigorous, it is the simplest and most effective method, and it has no effect on Xia Yu's actions.

After all, the value of listed companies' stocks is relatively imaginary. If they are used for bank pledge loans, it is generally about 30 to 50 percent off. Stocks worth 10 million Hong Kong dollars can only be loaned at about 3 million to 5 million.

The HSI cost stocks are better, and the stock pledge rate can reach 50%, but if it is not the HSI cost stocks, then I am sorry, the bank will only give a 30% to 35% discount, and generally only a 30% discount!

If it is an unlisted company, it is more risky in the eyes of banks and securities companies. Few banks and securities companies do the equity pledge business of unlisted companies. Even if they do, the pledge rate given is very low, even Up to 20% off!

If a company's value has doubled four or five times after listing, and it is pledged and then discounted by three, it will be similar to the amount of assets before listing.

If you consider the risks when the company is not listed, it makes sense that the pledge rate of equity and assets to take out loans is low...

Closer to home.

Let's talk about the British Swire Group first. The total assets of the group are about 24.26 billion Hong Kong dollars, the net assets are 8.81 billion Hong Kong dollars, and the liabilities are 15.45 billion Hong Kong dollars. 63.7 percent!

The Heungkong Swire Group is the most important branch of the British Swire Group, occupying more than six floors of the British Swire Group's strength.

The total assets of Heung Kong Swire Pacific Group are about 15.77 billion Hong Kong dollars, the liabilities are 9.24 billion Hong Kong dollars, the net assets are 6.53 billion Hong Kong dollars, and the group debt ratio is 58%. Sixth, lower than the parent company Swire Pacific Group.

Finally, there is the Shi Yahuai family itself.

The assets of the Shi Yahuai family are mainly under the internal family trusts and family funds.

Because these companies have already counted debts when they counted the assets of Heung Kong Swire Pacific Group, they cannot be counted on the main body of the Shi Yahuai family in principle.

The total assets of the Shi Yahuai family are about 8.32 billion Hong Kong dollars, which can be divided into four parts.

The first part is the stocks and equity of listed or unlisted companies, worth about 6.65 billion Hong Kong dollars.

The second part is the fixed assets of the Shi Yahuai family, such as buildings, houses, villas, cars, yachts, etc. The total value of these things is about 460 million Hong Kong dollars, which is a real value and does not contain a trace of moisture.

It's just that this part of the assets is more difficult to cash out, but the pledge rate is still relatively high if you take a mortgage loan.

The third part is that the current funds of the Shi Yahuai family in various banks are about 120 million Hong Kong dollars. This is the funds used by the Shi Yahuai family for risk control, and they will not be used easily, even if these funds are idle!

These liquidity funds belong to their families and are different from those of individual companies.

The last part is the debt under the name of the Shi Yahuai family, which is about one billion and ninety million Hong Kong dollars in total!

The assets bought with the loan money also belonged to the Shi Yahuai family, but it was only subtracted when calculating the net assets.

But now Xia Yu didn't want the amount of the Shi Yahuai family's net assets, so these responsibilities of the Shi Yahuai family must be taken into account.

After all, there are explanations in the documentation.

The reason why the Shi Yahuai family has such high debt is due to the increase in equity holdings through loans in the past two years.

From this, it can also be seen that the Shi Yahuai family is cautious and careful, and they are guarding against people like Xia Yu or Xia Yu.

But Shi Yahuai's family probably didn't expect that no matter how much they guarded, if Xia Yu wanted to target them, he would still target them!

"The debt of the Shi Yahuai family is HK$1.09 billion, which was secured by the stock of listed and unlisted companies worth HK$3.1 billion."

"So in fact, the first part of Shi Yahuai's assets is worth 6.65 billion Hong Kong dollars, of which 3.1 billion cannot be moved."

"The remaining 3.55 billion Hong Kong dollars of equity, even if all the loans are taken, it will only be about 1.2 billion Hong Kong dollars, but unless Norman Shi Yahuai is mentally disabled, he will not embark on this pursuit of death. the way."

"In this way, the Shi Yahuai family seems to have huge assets. In fact, after taking out a loan of HK$1.09 billion to increase their stake, the room for activity has been severely reduced."

"The Shi Yahuai family sacrificed attack power in exchange for their own defense power, but this defense power can prevent others, but it's hard for me to say...hehe..."

Xia Yu thought of this, and the corner of his mouth unknowingly raised an arc.

The Shi Yahuai family's prudence has advantages and disadvantages. The advantage is that it strengthens the control over the Swire Group and its various companies, but the disadvantages are also obvious. The funds are trapped and the space for activities becomes smaller.

The difference between stock and cash is clear at this point.

To give a simple example, if the assets of the Shi Yahuai family are 3 billion Hong Kong dollars in cash, but they are all used to buy 3 billion Hong Kong dollars worth of stocks, and these stocks are not money, and they can only be pledged by banks. Reloan back the cash of HK$1 billion to 1.5 billion.

Although the total assets of the Shi Yahuai family have increased by 1 billion to 1.5 billion Hong Kong dollars, the stock worth 3 billion Hong Kong dollars has been frozen, and only the cash of 1 billion to 1.5 billion Hong Kong dollars that can be re-loaned. Deterrence and actual lethality cannot be compared with three billion Hong Kong dollars in cash!

"Now that it's clear, it's time to act..."

After thinking about it, Xia Yu opened the safe behind him, took out a notebook, and browsed the plans and ideas he had written down before.

Soon it was evening.

After dinner, Xia Yu bought some fruit and drove to Bao Yugang's house.

After meeting, there was a friendly and warm chat, and then Xia Yu and Bao Yugang drank tea in the living room and chatted leisurely.

After three rounds of tea, Xia Yu talked about the purpose of visiting tonight.

"Old Bao, I'm here with you tonight, mainly because I have an immature idea. I'll see if you can help me. I'm going to do something to Cathay Pacific!"

Bao Yu just wanted to pat his chest and say it's okay, but suddenly heard Xia Yu's last words, his expression instantly became solemn, looked at Xia Yu with burning eyes, and asked with concern: "A Yu, I remember that Cathay Pacific is not listed, right? ? Even its parent company, Swire Airlines, is not listed, how do you do it?”

"Wait... Are you planning to take action against Taikoo shares?"

"This is the biggest foundation of the Taikoo Consortium. If you touch it, Norman Shi Yahuai will definitely have to work hard with you!"

"How sure are you?"

PS: The data setting is too troublesome. If it is strong, it is unrealistic and difficult to write. If it is weak, it is boring to write the plot. The current level has been adjusted seven times.

This month's update is not strong, and it will be updated as soon as the end of the month, above!