In Hong Kong, we build a global business empire

Chapter 789 Shocking the Entire Hong Kong, the Pride of the Chinese!

For the next two days, Lin Haoran did not go to the company.

He had already reached an agreement with Standard Chartered Bank regarding Huifeng Bank, so he didn't need to worry about the specific details of the arrangements.

The day after he returned to Hong Kong, he made a special trip to Liu Xiaoli's place.

This stunningly beautiful woman, who had recently become his woman, now lives in one of his properties, a villa in the Mid-Levels of Wan Chai.

He had also arranged for servants with high loyalty.

He had already arranged everything for Liu Xiaoli. After returning to Hong Kong and resting for three days, Liu Xiaoli would officially go to the 51st floor of the Connaught Building to serve as his secretary in his private office.

Although she was called a secretary, her job was actually very simple: to serve Lin Haoran tea and water and wait on him when he came to the company.

In this way, his four female companions all found their own places and arrangements.

Guo Xiaohan, as his legal wife, now serves as the chairperson of the Lin Haoran Charity Foundation. With her own abilities and enthusiasm, she fully assists Lin Haoran in managing his charitable work, contributing to his reputation.

Guan Jiahui is single-mindedly running a clothing sales brand chain company. This company is currently highly dependent on the Land Group, and its development is closely linked to the Land Group. Lin Haoran doesn't need to worry about her or that she has any ulterior motives.

Keiko Yamada was Lin Haoran's secretary when he was in Japan. She was extremely loyal to Lin Haoran, with a loyalty level of 100%. Now, she shoulders an important responsibility, assisting Lin Haoran in supervising the company in Japan, and reporting any problems to Lin Haoran at any time.

As for Liu Xiaoli, Lin Haoran appointed her as his secretary not because he valued her abilities, but mainly because he wanted to have such an eye-catching presence by his side, like a beautiful vase. Occasionally, she could put on a wonderful solo dance to liven things up and allow Lin Haoran to relax and have some fun from time to time.

In the blink of an eye, it had been four days since Lin Haoran returned to Hong Kong, which was October 25th.

The morning sunlight streamed through the floor-to-ceiling windows of the conference room on the top floor of the Kang Le Building, illuminating the long, gleaming conference table.

On the table were two thick contract documents and several expensive pens.

Lin Haoran sat in the main seat.

To his left were the core executives of Hengsheng Group, including He Shanheng, whose solemn expressions carried a hint of barely perceptible excitement.

To his right were senior executives from Standard Chartered Bank in Hong Kong, led by Tyronn.

Compared to the composure of Hengsheng's side, although the Standard Chartered team tried their best to remain calm, the eagerness to complete the transaction and the ease of getting rid of the burden were still faintly discernible between their brows.

Governor Merrihau, as a special witness, sat at the other end of the conference table, smiling and composed.

In his view, his early "coordination" played a crucial role in making this deal possible, as it both preserved the dignity of the British company and met Lin Haoran's needs, making it a perfect deal.

“Mr. Lin, Mr. He, Sir Merrihow,” Tyronn took a deep breath and spoke first, his voice much calmer than it had been a few days ago in He Shanheng’s office, but there was also a sense of urgency in it.

He was eager for the contract to be signed as soon as possible.

"After final verification by both teams, all terms have been confirmed to be correct. According to the agreement, Standard Chartered Bank (Hong Kong) Limited will transfer its 51% controlling stake in Huifeng Bank to Hengsheng Group for a total price of HK$1 billion."

Upon completion of the transaction, Hengsheng Group will become the controlling parent company of Huifeng Bank and will automatically assume Huifeng Bank's right to issue banknotes in Hong Kong.

He paused, then continued reading the core terms: "At the same time, all existing corporate client relationships, related loan contracts, and debts of Huifeng Bank will be completely divested and transferred to Standard Chartered Bank."

Accordingly, HSBC’s related debt to Standard Chartered Bank will be offset by HK$5.8 billion.

HSBC will retain its brand, note-issuing rights, and all its overseas branch network, including the Bank of England in the Middle East and HSBC in the United States, as well as its branches in the United States, the United Kingdom, India, Japan, South Africa, Southeast Asia, and all personal savings businesses.

Upon reading this, Tyron felt a sense of relief.

Although HK$1 billion is far below the initial ambition, it is the best possible outcome compared to the humiliating HK$100 million or the HK$3 billion payout.

More importantly, the last remaining "prime" of Huifeng Bank, its important corporate clients, especially "giants" like the Caring Group, were finally successfully taken over, shedding the continuously loss-making overseas burden of Haifeng Bank.

In his briefing to headquarters in London, this was described as a “successful stop-loss and strategic refocus.”

After several days and multiple meetings, Standard Chartered Bank headquarters was finally persuaded by Tyronn.

After all, there doesn't seem to be a better option.

Faced with a powerful and relentlessly aggressive opponent like Lin Haoran, Standard Chartered Bank could very well find itself in an even deeper quagmire if it does not accept this agreement.

Want to sell it for a higher price?
There's no way Lin Haoran will budge.

Although HK$1 billion is definitely not a good price for Standard Chartered Bank, if it is lost due to the stalemate, coupled with the drag from the continued losses of SITC Bank, Standard Chartered Bank's situation will only become more difficult.

This agreement, while making concessions on price, has successfully mitigated losses, transferred risks and burdens, and preserved some of Huifeng Bank's high-quality assets and businesses, leaving room for possible restructuring in the future.

This is also why Standard Chartered Bank headquarters ultimately agreed.

Lin Haoran nodded slightly, his gaze sweeping over the signature area on the last page of the contract, and said calmly with a smile, "Since the terms are correct, let's sign it."

Soon, representatives from both sides signed and affixed their seals to several documents.

The cameras of the two groups' in-house photographers lit up at the opportune moment, capturing this historic instant.

The moment Lin Haoran put down his pen, it meant that this British-owned bank, which had weathered a century of storms and once dominated Hong Kong's financial sector, had changed hands twice in just three months and was finally incorporated into the Chinese-owned conglomerate's portfolio.

Governor Merrih rose with a broad smile and shook hands with Lin Haoran and Tyron respectively: "Congratulations, Mr. Lin and Mr. Tyron. This is a successful transaction that demonstrates the vitality and cooperative spirit of Hong Kong's financial community. I believe that under the new management, Huifeng Bank will surely be revitalized."

His words were grand and dignified, but inwardly he was pleased with himself for successfully defusing a potential conflict.

Tyronn's forced smile was slightly stiff, but he still maintained a professional demeanor: "Thank you, Sir. Standard Chartered Bank will continue to deepen its presence in the Hong Kong market and serve our clients well."

The clients he was referring to naturally included those companies that had just been acquired by Huifeng.

These past few days, it hasn't been easy for Tyronn to persuade headquarters.

Many people at headquarters opposed the deal, especially Mr. Brown, the former tycoon of Standard Chartered Bank in Hong Kong, who slammed his fist on the table and expressed his dissatisfaction vehemently during an internal meeting.

“We paid a heavy price to acquire HSBC, and now we’re handing over a controlling stake in HSBC for a mere HK$1 billion. This is a disgrace to Standard Chartered Bank!” This was Brown’s biggest complaint.

After all, in Brown's view, the acquisition of HSBC was his most perfect battle at Standard Chartered Bank and the pinnacle of his career.

Now, his successor has handed him over under such "humiliating" conditions, which is tantamount to denying his past achievements.

Although he has lost his eligibility to succeed the chairman of the board, he has been transferred back to headquarters based on his achievements in Hong Kong and remains an irreplaceable and important senior executive.

However, Tyron's proposal was ultimately approved with the support of Lord Derek Barber, Chairman of the Board of Directors of Standard Chartered Bank.

Lord Barber saw further ahead; he understood that in the current situation, it was unwise to confront a formidable enemy like Lin Haoran head-on.

Cutting losses in time and preserving strength is the best strategy for Standard Chartered Bank in its global expansion.

More importantly, although Huifeng Bank was sold to Hengsheng Group, most of Huifeng Bank's remaining market share in Hong Kong was transferred to Standard Chartered Bank.

In this way, it's as if they haven't lost much of their market share in Hong Kong.

After careful consideration, he did approve of the plan that Tyron and Lin Haoran had reached.

Lin Haoran simply smiled calmly and shook hands lightly with Mai Lihao: "Thank you for your concern, Governor."

After the signing ceremony, the bigger highlight was yet to come—the press conference announcing Hengsheng Group's acquisition of Huifeng Bank.

The press conference was held in the banquet hall of the Kang Le Building, which was already bustling with people.

Reporters from major Hong Kong media outlets, having received word of the situation, had already packed the venue to capacity, their cameras and microphones aimed at the stage, and the air was filled with a cacophony of voices.

Everyone understands that Hengsheng Group and Standard Chartered Bank jointly held a press conference. Although it is not yet clear what big news it is, the fact that two financial giants would jointly release such a news item means it must be a bombshell!

At 10:00 a.m., Lin Haoran, Tyronn, Governor Merrihao and the senior management teams of both sides slowly walked into the venue and stepped onto the stage.

In an instant, all the lights focused, and the sound of camera shutters rang out like a sudden storm.

After a brief opening by the host, Tyronn, the tycoon of Standard Chartered Bank in Hong Kong, spoke first on behalf of the seller.

Standing before the microphone, facing hundreds of pairs of intense gazes from the audience, Tyronn struggled to remain calm and read out a prepared statement: "Based on Standard Chartered Bank's need for global strategic adjustments and asset structure optimization, and after friendly consultation with Hengsheng Group and with the approval of relevant regulatory authorities..."

Standard Chartered Bank (Hong Kong) Limited officially transferred its 51% stake in Huifeng Bank to Hengsheng Group today.

Standard Chartered Bank believes that, under the leadership of the Hengsheng Group, Huifeng Bank will continue to contribute to the prosperity and stability of Hong Kong…

Despite the official and euphemistic wording, terms like "strategic adjustment" and "optimization of asset structure" sounded to journalists familiar with the situation tantamount to admitting Standard Chartered's failure to digest Huifeng and its forced drastic measures to survive.

An uncontrollable uproar immediately erupted from the audience.

However, what shocked and even made the reporters more incredulous was the details of the trade that Tyron subsequently released.

"One billion Hong Kong dollars? A mere one billion Hong Kong dollars was all it took to acquire a controlling stake in HSBC?"

"Has Huifeng divested all its corporate clients and related debts? What's left? Isn't it just an empty shell with overseas assets? Why would Hengsheng Group hand over these corporate clients to Standard Chartered Bank?"

"My God! How much of a bargain did Hengsheng get? Or is Standard Chartered really that desperate?"

"Why would Lin Haoran reject all of Jialing Group's major clients? What is he thinking?"

The audience below the stage buzzed with discussion, their faces filled with shock, confusion, and curiosity.

The terms of this deal were completely beyond the comprehension of most people present.

In their view, Standard Chartered seemed to be selling at a huge loss, while Hengsheng seemed to have gotten a great deal. But given Lin Haoran's consistent shrewdness, why would he voluntarily give up those seemingly core corporate clients?

There must be a deeper reason behind this.

Next, it was the turn of Hengsheng Group to speak.

The person representing Hengsheng was the group's chairman, He Shanheng.

He Shanheng calmly walked to the front of the stage. His seniority and prestige brought a slight silence to the room. "Friends from the media, on behalf of Hengsheng Group, I solemnly announce that, effective immediately, Hengsheng Group has officially become the controlling parent company of Huifeng Bank. This acquisition is a key step in Hengsheng Group's global strategic layout..."

He elaborated on the significance of this acquisition for Hengsheng: it granted them the long-desired local currency issuance rights, greatly enhancing their credibility and stability in the Hong Kong financial market;
It inherits the brand reputation and huge personal savings base accumulated by Huifeng Bank over a century, which is the bank's most stable source of funds;
This acquisition secured a complete international banking network, including those in the Middle East, the United States, London, Tokyo, and New York, filling a crucial gap in Hengsheng's globalization strategy.

"Through this acquisition, the banking institutions under the Hengsheng Group will include Hengsheng Bank, Bank of East Asia, Dao Heng Bank and Huifeng Bank."

If we include the Bank of England Middle East and HSBC Bank under HSBC, our financial network spans five continents: Asia, Europe, North America, Africa, and Australia.

Hengsheng Group is taking a solid step towards its goal of becoming a world-class financial institution!

He Shanheng's words were powerful and resonant, painting an inspiring picture.

The reporters in the audience took notes rapidly while reflecting on their experiences.

Once upon a time, Hengsheng Bank was a subsidiary of Huifeng, but now the tables have turned, with the parent company becoming a subsidiary of a subsidiary. The dramatic turn of events and the changing times are truly lamentable.

Subsequently, Governor Merrih also delivered a brief speech, praising the "spirit of cooperation" embodied in the transaction and its positive significance for the financial stability of Hong Kong, secretly taking pride in his role in "facilitating" it.

Finally, amidst the eager anticipation of all the reporters, Lin Haoran slowly walked to the microphone.

The entire venue fell silent instantly, and all the cameras were pointed at him.

This man, who is too young to be in control of a vast business empire, has the power to influence the market with his every word and action.

Lin Haoran's gaze swept calmly across the room. He didn't speak immediately, but his invisible aura made everyone hold their breath.

He doesn't need words to emphasize anything; his very existence is a declaration.

“I know many people are wondering,” Lin Haoran finally spoke, his voice carrying through the microphone throughout the venue, “why Hengsheng would acquire Huifeng, a company that had been stripped of its core corporate clients, at what seems like a hefty price.”

Some people are wondering why we value those overseas assets, even those that are temporarily losing money.

He paused briefly, giving everyone time to think.

"In my view, the essence of a bank lies in its reputation, stability, and long-term planning. The weight that Huifeng's century-old brand carries in the hearts of Hong Kong citizens is priceless."

The establishment of a global financial network of licenses and qualifications requires time to accumulate.
The public sentiment represented by personal savings business is the ballast stone for banks to resist risks, and these are precisely the cornerstones of Hengsheng's future development.

He did not directly explain why he abandoned those corporate clients, but the direction of his words was very clear—he was pursuing more fundamental, long-term, and stable value.

"As for overseas markets, that's exactly what Hengsheng Group needs most right now. Our acquisition of Huifeng Bank perfectly fills the gap in our global footprint." Lin Haoran's voice was steady and powerful, echoing in every corner of the banquet hall.

"Although the Bank of England in the Middle East is not large, it has been deeply rooted in the Middle East for many years and has the connections and channels that we desperately need."

Although US-based SinoCheung Bank is currently operating at a loss, it possesses a full banking license and a network of over 300 branches, which are invaluable assets.

He paused for a moment, his gaze sweeping across the room, and continued, "For Hengsheng Group to become a world-class financial institution, it must have a global vision and layout."

These overseas assets of Huifeng Bank are key to achieving this goal.

His answer was watertight, addressing the core questions from the outside world while demonstrating strong confidence and a far-sighted strategic vision.

Many reporters in the audience nodded in agreement. Although they might not fully understand all of his plans, Lin Haoran's past illustrious achievements made them subconsciously choose to trust the judgment of this "Hong Kong business tycoon".

Of course, some astute reporters tried to delve deeper into the reasons for abandoning specific clients such as Jialing Group, but Lin Haoran simply brushed it off with "a strategic choice based on a clear positioning of Huifeng Bank's future" and said no more.

The truth may only be fully revealed by him, the reborn one, and by the time that is about to come.

After the press conference, the news spread like wildfire, reaching every corner of Hong Kong via radio waves, newspapers, and television.

Hengsheng's billion-dollar acquisition of Huifeng marks a dramatic shift in Hong Kong's financial landscape!

Huifeng, a century-old company, finally receives Chinese investment; Lin Haoran achieves a stunning turnaround!

Standard Chartered cuts its losses, Hengsheng takes over, the mystery behind Huifeng's change of ownership.

Breaking News! Hengsheng Acquires Huifeng for HK$1 Billion at a Bargain Price, Earthquake Shakes Hong Kong's Financial Circle!

Various headlines filled the front pages of major media outlets.

The whole of Hong Kong was in an uproar. In the streets and alleys, in teahouses and restaurants, everyone was talking about this sudden acquisition.

Most ordinary citizens watched with a sense of amusement and admiration, marveling at the formidable strength of Lin Haoran and Hengsheng Group, who were able to bring the former financial giant into their fold.

Many older Hong Kong residents, seeing the familiar signboard of "Huifeng Bank" in the newspaper with the words "Member of Hengsheng Group" printed underneath, were filled with emotion, realizing that times have truly changed.

In an old-fashioned tea restaurant in Wan Chai, several longtime residents were gathered around a newspaper, having a lively discussion.

"Qiang, look! Huifeng Bank has been acquired by Hengsheng Group!" An elderly man with white hair excitedly pointed to the front page of the newspaper.

The middle-aged man in his fifties, referred to as Ah-Qiang, adjusted his reading glasses and carefully examined the newspaper: "Really? Huifeng Bank! Even after all the ups and downs, it's still a long-established major bank in Hong Kong, and it's actually been acquired by us Chinese!"

"This Lin Haoran is truly remarkable!" An elderly gentleman in a traditional Chinese suit exclaimed, slapping his hand on the table. "I remember when I was young, I deposited money at HSBC, and those foreign employees looked down on everyone. Now, HSBC is ours!"

The tea restaurant owner, carrying a cup of milk tea, came over and said with a smile, "My father used to say that it would be great if we Chinese could be in charge of our own lives someday. Now Mr. Lin has achieved that, truly making us Chinese proud!"

In an office building elevator in Central, several white-collar workers were also discussing the matter.

"Have you seen the news? Lin Haoran bought HSBC for a billion!" a young female office worker said excitedly.

Her colleague interjected, "Do you know what's most impressive? This time, his acquisition of Huifeng Bank had the support of the Governor-General. That would have been impossible before!"

“Exactly!” another colleague chimed in. “I used to feel inferior when I did business at HSBC, but now it’s great. From now on, when I go to HSBC, I can stand tall and say, ‘This is our Chinese bank!’”

In the alleys of Mong Kok, Kowloon, a group of elderly people sat on small stools chatting.

"Ah Juan, doesn't your son work at Hengsheng Group? He must be so proud of himself now!" an old woman said to the old lady sitting next to her.

The old lady, called Ah Juan, beamed with joy: "Yes, my son just called and said everyone at the company is overjoyed. Mr. Lin really gave us Chinese a chance to vent our anger this time!"

“If you ask me,” an old man with a goatee remarked, “this is more gratifying than making any amount of money. Think back to when we were young, it wasn’t easy to even get into a foreign firm. Now, things are much better; the largest British-owned banks have been acquired by us Chinese!”

In Victoria Park, people doing their morning exercise were also discussing this important news in small groups.

"How come Lin Haoran is so amazing? He's only in his early thirties, right?" an old man practicing Tai Chi asked his companion.

"This is what you call a hero emerging from among the young!" his companion said while stretching. "Most importantly, he gave us Chinese people hope. He showed us that we can not only stand on equal footing with foreigners, but also do better than them!"

On the ferry, a father pointed to a newspaper and said to his young son, "Son, remember this day. It's a day that all Chinese people should be proud of!"

The little boy looked up and asked, "Dad, does that mean we won't have to speak English when we go to HSBC in the future?"

The father smiled and patted his son's head: "Not only do you not need to speak English, you can also speak our own language with pride!"

These ordinary Hong Kong citizens may not understand complex financial operations, but they truly feel that this is a historic moment.

The change of ownership of HSBC is not just a business transaction, but also a symbol – symbolizing that Chinese entrepreneurs have finally gained a foothold in this financial center that was once dominated by British capital, and even surpassed the former rulers.

Although Huifeng Bank declined, it only lasted for three months, and its influence is still etched in the hearts of the citizens.

At the newsstand on the street corner, the day's newspapers were sold out.

The newsstand owner smiled and said, "It's been a long time since I've seen citizens so interested in financial news. Everyone says this is a source of pride for the Chinese community!"

This sense of pride permeates every corner of Hong Kong.

From tea restaurants to office buildings, from alleyways to upscale residential areas, people are talking about the same thing: Lin Haoran's acquisition of HSBC has made Chinese people proud!

At this moment, HSBC is no longer just a financial institution; it has become a symbol, representing the rise of Chinese business power and the profound changes taking place in this era.

Lin Haoran became the most dazzling symbol of this transformation.

The financial sector and the business community reacted differently.

While Chinese businessmen were thrilled, they also felt greater pressure. Lin Haoran's rise was too rapid and his vision too grand, making it difficult for them to catch up.

The remaining British-owned conglomerates inevitably felt a sense of shared sorrow, as the "fall" of Huifeng marked the end of the era of absolute British dominance in Hong Kong's financial sector.

Even though Hengsheng Group had already become the dominant player three months ago.

However, in the eyes of these British conglomerates, even if Hengsheng Group becomes the dominant player, it still does not have the ability to acquire British banks.

However, the acquisition by Huifeng Bank completely shattered their last psychological defenses.

Senior executives of established British trading companies such as Inchcape, Swire, and CLP Power could not hide their worries during private gatherings, and began to re-evaluate their relationship with Hengsheng Group.

Within Standard Chartered Bank, although it successfully shed the burden and avoided a worse outcome, losing Huifeng in a manner that was almost a "fire sale" still left many employees and senior executives feeling disappointed and humiliated.

Those corporate clients who had just switched from Huifeng Bank to Standard Chartered, including Chen Songqing, chairman of the Caring Group, were mostly relieved.

In their view, Standard Chartered Bank is much stronger, and cooperating with it is obviously much safer than cooperating with a "new" Huifeng Bank that has just experienced turmoil and has been acquired by Chinese capital.

These real estate company owners have also had contact with Hang Seng Group, but they are clearly not as easy to talk to as Standard Chartered Bank. It is too difficult to get a loan from Hang Seng Group.

Therefore, they readily accepted the transfer of business, even somewhat impatiently, completely unaware that Lin Haoran regarded them as a "risk" to be avoided, while Standard Chartered took over a "time bomb" that could explode.

Inside Hengsheng Group, there was an atmosphere of jubilation and excitement.

The successful acquisition of Huifeng and the acquisition of the right to issue banknotes signify that the foundation of the group's financial business has been thoroughly solidified, paving the way for its internationalization.

Standing in front of the floor-to-ceiling windows of his office on the top floor of the Connaught Building, Lin Haoran looked down at the bustling Victoria Harbour below and the towering skyscrapers of Central in the distance.

Among them, the iconic building that originally belonged to Huifeng Bank, Huifeng Building, is now also his property.

(End of this chapter)