Hong Kong Movies: You Hongxingzi, what the hell is the charity king?

Chapter 679 "678" Legislative Council live broadcast in Hong Kong, Guan Zu criticizes Wang again! Hong Kong citizens: Awesome!
In the evening, ATV News and TVB News jointly broadcast the news that Richard White was arrested.

"Good evening, everyone..."

"Now I have a breaking news for you all!"

"At 16: this afternoon, the ICAC received a report and found solid evidence of illegal crimes committed by Hong Kong Island Telecom CEO Richard White, and formally arrested him!"

"The following is the on-site arrest footage..."

The camera switches to the arrest scene in the conference room.

After playing the capture process,
Host: "Our reporter interviewed ICAC Investigation Director Yu Sir."

The screen switches to the interview screen.

Reporter: "Excuse me, Mr. Yu, has the ICAC obtained solid evidence?"

Yu Hongsheng said righteously in front of the camera: "Yes, we have obtained solid evidence of President Bai Lide's profit shifting and tax fraud."

"Next week, we will compile the evidence we have and formally file a lawsuit in court."

"Moreover, this is not just a crime committed by CEO Whitehead alone, but also a violation within the Hong Kong Island Telecom Group..."

"We are currently auditing the financial data of Hong Kong Island Telecom..."

At last,
Yu Hongsheng concluded:

"Next, our ICAC will focus on conducting a comprehensive audit of Hong Kong Island Telecom to find out their illegal and criminal activities..."

“Please continue to pay attention to…”

"Finally, on behalf of the ICAC, I would like to make a statement to all Hong Kong citizens that our ICAC will definitely uphold the original intention of its establishment..."

"Past mistakes can make us better!"

"In the face of power, we will never compromise!"

"This time, even when facing Hong Kong Island Telecom, which has a market value of more than 1000 billion, it is no exception!"

Really impressive!

Many citizens were touched by Yu Hongsheng's passionate speech.

I recall that in the past, the ICAC busted four major detectives, solved various major cases, and eradicated the unhealthy tendencies in Hong Kong Island.

at this time,

The screen returns to the host:
"In addition to the ICAC arresting the president of Hong Kong Island Telecom, another incident happened yesterday..."

"According to the Legislative Council, Mr. Guan Zuguan formally submitted the "Proposal on Adding Anti-monopoly Regulations to the Telecommunications Market" to the Legislative Council yesterday, and requested the person in charge of the Hong Kong Island Telecommunications Group to attend the hearing..."

"We interviewed Mr. Guan Zuguan, and he said..."

now,

All Hong Kong citizens were cheered up.

"coming!"

"Mr. Guan finally took action."

"Oh my god, if Hong Kong Island Telecom is really going to be dismantled, then the stock market will be..."

"When the market opens tomorrow, Monday, the share price of Hong Kong Island Telecom will be finished."

Everyone in the stock market knows how powerful Guan Zu is.

When word got out that Boss Li was going to be targeted, the stock price of Boss Li's company immediately plummeted...

If you say HSBC, its share price will plummet immediately...

Oh, and Taikoo...

With one victory after another, Guan Zu has accumulated a good reputation in the hearts of retail investors!
Any stock that Guan Zu targets will not have a good ending.

Can Hong Kong Island Telecom hide?
Some investors cried.

"Ah~~~~"

"Dead, dead...I didn't run away from Hong Kong Island Telecom last week!"

"I didn't run away either. Will the market crash tomorrow, Monday?"

"Fuck, retreat quickly!"

"Brothers, Hong Kong Island Telecom is going to die!"

"The wind is so tight!"

……

……

the next day,
on Monday,

It’s sunny in Hong Kong Island... Whether it’s sunny or not, retail investors no longer have time to care. They rush to the trading hall of the Hong Kong Stock Exchange to queue up as soon as possible.

The Stock Exchange has not yet opened, but the door is already crowded with anxious retail investors.

The sky was bright and sunny, but their hearts were filled with dark clouds.

9 points,
The gates opened and citizens rushed into the trading hall frantically.

Then when the bidding started at 9 o'clock, the stock price began to plummet.

"It's over~~~~"

Retail investors became even more panicked.

Retail investors are panicking, and big institutions are even more panicking. Retail investors only lose a few thousand or tens of thousands, but when these big institutions fall, they lose hundreds of millions. You have to know that Hong Kong Island Telecom is the most important leader of the Hang Seng Index and has always been one of the most popular stocks for capital.

Now this...

Panic and escape!

Next, the stock market officially opens!
At the beginning, it plummeted by 9.3%!

Retail investors and institutions, their last hope of luck was shattered, and they burst into tears!
"It's so scary, run!"

"Mr. Guan, this power is too terrifying."

"Run away, run away, I can't afford to offend you!"

"Hong Kong Island Telecom Coffin Reservation!"

And on the other side,
From the Five Star Group’s financial department, Fang Zhanbo and Ye Tian began issuing orders.

"Smash it! Smash it hard!"

"Last week, I bought 5000 million shares. Every hour, I sell 1000 million shares!"

The whole department was bustling with activity.

……

On the same day,

The stock market closed, Hong Kong Island Telecom plummeted 23%!

The market value evaporated by nearly 300 billion!
If Hong Kong Island Telecom's monopoly was not too strong and its foundation too solid, it would be much more than this.

and,

Many citizens and organizations are also waiting for the Legislative Council meeting tomorrow to hear the results of the hearing, Guan Zu’s proposal, the specific content, and whether it will be passed...

……

……

a new day,
The day that the whole of Hong Kong is paying attention to has arrived.

"Yesterday, the share price of Hang Seng leader Hong Kong Island Telecom plummeted by 23%!"

"Legislative Council meeting: Will the split of Hong Kong Island Telecom be passed?"

"ICAC issues notice: A lawsuit has been formally filed against the CEO and CFO of Island Telecom for their illegal acts!"

"Where is the future of Hong Kong Island Telecommunications?"

"The Legislative Council used live television for the first time to broadcast this meeting"

All the headlines in newspapers across Hong Kong were focused on Hong Kong Island Telecom.

8:30 am,

Guan Zu arrived outside the Legislative Council building in a black Chevrolet.

At this time, there are already a large number of reporters waiting here.

Seeing Guan Zu coming,

Boom boom boom~~~~
They swarmed to the car window.

Guan Zu got off the car.

"Mr. Guan..."

"close……"

A bunch of reporters asking questions, buzz buzz buzz~~~~
Guan Zu did not answer their questions: "Everyone, I need to conserve my energy now, waiting for the Legislative Council meeting and the hearing against Hong Kong Island Telecom... I hope everyone can understand."

After hearing this, many reporters stopped making things difficult for Guan Zu and made way for him.

I dare not refuse.
They are afraid of being beaten ~ really beaten!

After Guan Zu entered the Legislative Council, other legislators also arrived one after another, including the president and vice president...

……

9: 30,

Legislative Council Grand Chamber,

The President, the Vice President and the remaining 58 members of the Legislative Council are all present.

Just to watch the fun... No, how could they miss the opportunity to plead for the people?

In addition,

There are also special guests - TVB and ATV.

And it’s live broadcast!

This time, Guan Zu applied to the Legislative Council for live broadcast, and broadcast the Legislative Council meeting live to all Hong Kong citizens through two television stations.

All Hong Kong citizens love to read gossip.

They would not miss such excitement.

I have also heard that Mr. Guan is the critic of the Legislative Council and likes to criticize people during meetings.

This hearing will surely reach new heights.

In addition to the above people, there are two more.

One is Zhang Lin, vice president of Hong Kong Island Telecom, and the other is his assistant.

Zhang Lin attended secondary school at the Bishop's College in the 1960s. After graduating from the Department of Economics and Political Science of the University of Hong Kong in 1971, he joined Cathay Pacific Airways and worked there for 23 years. He served as the Deputy Managing Director of Cathay Pacific Airways and the Executive Chairman of Asia Television. In 1989, he was invited by the then Governor of Hong Kong Island, David Wilson, to be seconded full-time to the Central Policy Unit of the Hong Kong Island Government.

In 1994, which was the beginning of this year, he joined Island Telecom as vice president.

This time, Whitehead was detained in the Independent Commission Against Corruption, so only Zhang Lin could come to the Legislative Council for the hearing.

Zhang Lin actually wanted to take advantage of ATV's support and visit Guan Zu, but Guan Zu refused to see him.

"Bang bang bang~~~"

"Okay, now that everyone is here, let's start the meeting."

Chairman John announced the start of the meeting.
"Today's meeting has two topics."

"First, the hearing on Hong Kong Island Telecom..."

“Second, we will discuss the proposal to add antitrust regulations to the telecommunications market submitted by Councillor Guan Zu.”

"Now, let's start the first topic. Councillor Guan Zuguan, the initiator of the hearing, will give a speech..."

Guan Zu knocked on the microphone.
“Dear Chairman John, Vice Chairman William, Members of Parliament, and all the viewers in Hong Kong who are watching on TV…”

"By the way, there is also Mr. Zhang Lin, the vice president of Hong Kong Island Telecom, who is attending the hearing..."

Guan Zu, everyone, and the camera were all focused on Zhang Lin.

Zhang Lin smiled awkwardly.

Guan Zu tapped the table with his fingertips, and his eyes swept across the conference room: "The reason why I summoned Mr. Zhang Lin to the hearing today is that I want Mr. Zhang Lin to answer some questions."

"First, the first question..."

"The profit margin problem of Hong Kong Island Telecom..."

Guan Zu held up a document in front of everyone and TV Guan Zu.
"According to a survey I commissioned from the Island University of Hong Kong, the average monthly communications expenditure of Hong Kong Island residents accounts for 8.2% of their income, while in Singapore it is only 1.8%."

"Then, according to the financial data released by Hong Kong Island Telecom, the profit margin was as high as 35%. From 1990 to 1993, the profit margin was above 30%, with a profit of several billion..."

"Moreover, this profit margin is achieved on the basis of inflated costs and tax evasion..."

All the members of the parliament were silent.

Listening to this data, I feel that it is really too much!
It’s crazy making money!
Guan Zu looked at Zhang Lin calmly, "Mr. Zhang Lin, do you have any objection to the data I just presented?"

Zhang Lin slammed the table: "Yes!"

"First of all, regarding the first data, Hong Kong Island residents accounted for 8.2% and Singapore residents accounted for 1.8%. We cannot confirm the source of this data, so we should not take it seriously..."

Guan Zu assured: "When the time comes, I will let the newspaper publish the entire collection process and thesis data...I guarantee that you will be convinced."

Zhang Lin: "There is also a third set of data, which says that our company inflated costs and evaded taxes. This is slander."

Guan Zu: "Slander? Your president and financial director have been arrested by the ICAC, and the charges include these two. A lawsuit has been filed in court. I don't believe that the ICAC's professional ability will wrongly accuse you!"

Zhang Lin: "Wasn't the ICAC's professionalism questioned last time?"

Guan Zu chuckled and said, "Mr. Zhang Lin, if you try to argue like this, do you think the five million citizens of Hong Kong will believe you..."

Citizens across Hong Kong who were watching the live news broadcast could not believe Zhang Lin's excuses just now.

Please, we believe in Zu Ge!
What a little jerk you are!
"All right."

Guan Zu: "Since Mr. Zhang Lin has no substantive evidence to defend himself, I will continue."

“Everyone should remember HK Electric…”

"At that time, while maintaining high profits, HK Electric arbitrarily raised electricity prices, so the Legislative Council issued the "Electricity Price Limitation" agreement, which limited the electricity price to 9.99% profit."

“Why was there a limit on profits at that time?”

"The only reason is that HK Electric is a livelihood enterprise in Hong Kong Island, and it is also a monopoly enterprise in Hong Kong Island!"

"And now, Hong Kong Island Telecom is also a basic enterprise for people's livelihood. It has no competitors. It can obtain a profit margin of more than 30% just by sucking blood from the citizens of Hong Kong..."

"Then - why does it have the right to enjoy a 35% profit?!"

Guan Zu slammed the table and stood up, startling the microphone to emit a shrill buzzing sound.

"Just because Hong Kong citizens have no other choice? So they can just lie on our five million citizens and drink their blood?"

Zhang Lin stood up with a red face to protest: "Protest! Councillor Guan Zu used absurd words and deliberately smeared Hong Kong Island Telecom..."

He protested.
The audiences in Hong Kong who were watching the live broadcast on TV were not moved at all.

On the contrary, Guan Zu's words touched their hearts.

That’s right, damn it, why should it do that?
You're sucking my blood!
Zhang Lin continued to protest: "Moreover... Councillor Guan Zu said that our company is a bloodsucker, but he never mentioned the huge investment our company has made in Hong Kong Island's infrastructure, such as laying lines and maintaining base stations - these are all real money!"

"Human and material resources? Hahaha~~"

Guan Zu laughed loudly, and finally said in a cold voice: "My answer to Mr. Zhang Lin's question is very simple: In 1883, the Great Eastern Telegraph Company was established in Hong Kong Island, a unique business. In 1925, the Hong Kong Island Telephone Company was established in Hong Kong Island. The two companies monopolized the business together... Then in 1987, the two companies merged..."

"That is to say, Hong Kong Island's telecommunications history exceeds 111 years!"

"Can't 111 years of monopoly profits cover the so-called "huge expenditure of manpower and material resources"? "

"Others build a bridge and collect tolls for 20 or 30 years to make a profit. That's reasonable and we can all understand it. But you have been sucking the blood of Hong Kong Island for 111 years. Isn't that enough?!"

Zhang Lin: “…………”

His throat rolled, but he didn't dare to respond in the end - if he dared to reply "not enough", the headline on the front page tomorrow would nail him to the pillar of shame.

Guan Zu glanced at the entire audience and the live camera.

"Everyone..."

"The citizens of Hong Kong have heard clearly what was said in the hearing just now! Where does Hong Kong Island Telecom's high profits come from? It is not from technology or services, but from a monopoly license that sucks the blood out of people's livelihood!"

His voice suddenly became passionate, like a heavy hammer hitting everyone's heart:

“Without competition, there is no bottom line! Without regulation, there is no lower limit! If we don’t break up the monopoly today, they will raise the phone bill to half of your salary tomorrow! We have endured for 111 years, do we have to let our descendants and the future of Hong Kong Island endure for another 111 years?!”

Right now,

All the members of the parliament were moved.

Guan Zu’s words “Do we have to let our descendants and the future of Hong Kong Island endure for another 111 years?” hits the heart directly!

Even those banana people and MPs who yearn for Great Britain were incited by Guan Zu's words.

Yes, this damn Hong Kong Telecom is sucking my blood!
Am I going to let it suck me for another 111 years?
Citizens across Hong Kong who were watching the live broadcast were even more excited.

"aweason!"

"I absolutely do not want to endure it for another 111 years!"

“It must be demolished!”

Zhang Lin, who was being directed at by the live camera, looked pale and purple.

……

Hong Kong Governor's Office.

Ashdown watched the TV and was completely convinced.

"here we go again!"

"Swallowing public opinion!"

“Is this what China means by ‘standing on the side of the people’?”

"Great, I am now on the side of the people (crossed out) and money too!"

--------

ps: There is another chapter later...

(End of this chapter)