The Next Day!
Early in the morning, the Hong Kong business world was rocked by shocking news: the six major overseas consortiums that had made a high-profile entry into the Hong Kong stock market a month and a half ago—the very organizations that had already secured controlling stakes in all companies under the Chinese Chamber of Commerce—had unexpectedly announced their withdrawal from the Hong Kong stock market.
At the same time, they announced that all shares held by the consortium would be transferred to a British-owned group before their withdrawal from Hong Kong, and they also disclosed the time and location where the agreement between the two parties would be signed.
The news caused an immediate uproar.
When these overseas consortiums first entered the Hong Kong stock market, their entrance was nothing short of high-profile and brazen.
Back then, leveraging their financial advantage, they forced Starry Sky Company and the Chinese Chamber of Commerce into a series of retreats. In less than a month, they had stripped the Chamber members of controlling stakes in all their companies—they were truly formidable, full of vigor, and at the height of their power.
However, their current predicament is as dire as their former arrogance was extreme.
No one could have imagined that these six major conglomerates would collapse in the Hong Kong stock market in less than two months—and would even be forced to withdraw from the market.
It’s as if we’ve witnessed them build their towers, host their banquets, and then watch their towers crumble!
In truth, most investors had already anticipated these overseas conglomerates’ withdrawal from the Hong Kong stock market; after all, everyone could see the current state of the market.
As the stock prices of those Chinese-owned companies plummet day by day, the value of the shares held by these foreign conglomerates continues to shrink.
If they had sufficient manpower and capital, they could have taken over and managed these companies themselves, gradually boosting share prices through strong performance.
But the reality is that the parent companies of these overseas conglomerates are struggling to keep their own heads above water—they simply don’t have the time or energy to deal with these messes in Hong Kong.
Under these circumstances, cutting their losses and exiting the market is practically the only option.
What is regrettable to the people of Hong Kong, however, is that these overseas conglomerates would transfer these shares to British-owned groups rather than the Chinese Chamber of Commerce.
While this is not hard to understand, the thought that the Chinese Chamber of Commerce fought so hard for so long only to ultimately benefit British-owned groups is still somewhat frustrating and regrettable.
At the same time, many are worried about the future of the Hong Kong stock market.
Clearly, the Chinese Chamber of Commerce will not let this matter rest. Their relentless efforts to drive down the stock prices of these companies are clearly aimed at acquiring their shares at a bargain price.
Now that the British-owned group has thrown a wrench into the works, the Chinese Chamber of Commerce certainly won’t give up so easily; a larger-scale stock market battle seems to be brewing.
But after enduring these recent battles, can the Hong Kong stock market withstand such turmoil?
Amid investors’ concerns, the signing ceremony for the share transfer agreement between the overseas consortium and the British-owned group officially began…
……….
Emperor Grand Hotel. Business Lounge!
At that moment, an exceptionally lively business event was underway.
This was the venue where the Xini and Nanfei conglomerates were signing a share transfer agreement with the British-owned group. To ensure everyone on Hong Kong Island knew that the British-owned group would be taking over controlling stakes in the dozens of listed companies under the Chinese Chamber of Commerce, Sang Chai had already leaked the news in advance and invited numerous Hong Kong Island socialites to attend the event.
Consequently, even before the ceremony began, a large crowd had already gathered, including reporters from various media outlets and radio stations.
At 10:00 a.m., amid a flurry of commotion, Sangchai and his entourage arrived at the BB Xi TR event venue, surrounded by bodyguards.
Seeing this, all the media on site immediately rushed forward, hoping to interview them.
They had assumed these figures would decline interviews, but to their surprise, Sangchai did not evade the reporters. Instead, he stepped forward and even politely asked the journalists to maintain order to prevent a stampede.
“Mr. Sangchai, I’m a reporter from the Nan Hua Evening News. There are reports that your company plans to withdraw from the Hong Kong stock market. Is this true?”
“It is true. Once these share transfer agreements are signed, our six major consortiums will wind down all operations in Hong Kong and permanently withdraw from the Hong Kong market!” Sangchai said solemnly.
“Mr. Sangchai, is your withdrawal from the Hong Kong market due to recent massive losses?” another reporter asked.
“That is part of the reason, but more importantly, the Hong Kong stock market is a shitty market. It’s riddled with regulatory loopholes, leaving investors feeling dissatisfied and frustrated,” Sangchai said sharply.
“Mr. Sangchai, I’m a reporter from Hong Kong’s TVB. What is your basis for describing the Hong Kong stock market in such terms?”
Upon hearing this question, Sangchai’s tone suddenly turned furious, and he shouted, “Basis? Everything we’ve experienced here is the best basis… no, it’s the best evidence!”
“Do you know that in this stock market, we experience incomprehensible things every single day? Whenever we finish building our positions, massive sell-offs hit the market, forcing us to engage in high-frequency intraday trading just to balance our costs.”
“Although our costs seem to go down after multiple trades, massive sell-offs follow immediately. It feels like there’s an endless supply of shares in the market. In extreme cases, shareholders of listed companies here even exploit regulatory loopholes to sell their entire companies to us—it’s absolute bullshit…”
Thinking back on all the frustrating incidents he’d endured over the past month and a half, Sangchai—who had originally intended to maintain a so-called gentlemanly demeanor—completely lost his composure, resorting to emotional language to vent his frustration in front of so many people.
Sangchai’s outburst thrilled the media reporters—this was major news.
Instantly, the reporters swarmed him like sharks smelling blood, bombarding Sang Chai with a barrage of tricky and controversial questions.
“Mr. Sangchai, what is your assessment of Mr. Li Yi from Star Investment?”
“He is a shameless clown with not a shred of chivalry. He resorts to underhanded tactics, and dealing with him is an embarrassment to me!”
“Mr. Sangchai, as far as I know, you and Mr. Dolsen of the Yingzi Group come from the same family. Does this share transfer agreement mean that Mr. Dolsen will continue to represent your Sassoon family in the battle with the Chinese Chamber of Commerce for influence in Hong Kong’s financial sector?”
“Yes, Dolsen and I do indeed both hail from the great Sassoon family. As for what Dolsen will do after taking over these shares, I’m not entirely sure, but I trust he will make the right choice!”
“Mr. Sangchai…”
While Sangchai was being interviewed, Monroe, Michiko, and the others standing nearby were not idle either; they were also being interviewed by the reporters.
Like Sangchai, Monroe, Michiko, and the others made no attempt to hide their distaste for Li Yi and Starry Sky Company. A steady stream of negative remarks poured from their mouths, which the reporters lapped up like manna from heaven.
It wasn’t that the reporters enjoyed hearing such filth; rather, the remarks these individuals were making were highly sensational.
To them, this was news—a hot topic.
Just as the interview was in full swing, a commotion broke out nearby.
Immediately, more than a dozen middle-aged men in suits, flanked by a large entourage of bodyguards, entered the hall. Leading the group was none other than Dolsen, the head of the British-owned conglomerate.
Upon seeing Dolsen’s arrival, the reporters rushed over, eager to interview this young king who was currently at the height of his fame.
However, much to the reporters’ disappointment, Dolsen flatly refused their requests for interviews.
He did, however, agree to grant individual interviews to each media outlet after the signing ceremony concluded.
After saying this, Dolsen, the Jazz, and the others took their seats at the podium.
Sangchai and his team quickly wrapped up their interviews with the press and walked up to the signing table.
After a brief exchange of pleasantries, the lawyers for both sides reviewed the contract terms once more, checking for any unfair clauses or contractual pitfalls.
Once everything was confirmed, the hostess placed the two copies of the contract in front of Sangchai and Dolsen, thoughtfully handing them each a pen.
Without hesitation, Sangchai and Dolsen quickly signed their names on the documents and returned them to the other party.
Once both documents were signed, each party affixed their company seal, and the share transfer agreement was successfully finalized.
However, just as the reporters were frantically snapping photos to capture the moment, a commotion erupted behind them once again.
When the crowd at the event turned to look at the commotion, they saw a familiar group of figures striding confidently into the event hall…
…………