When Lee Shau Kee was born, his father, Mr. Li Jiefu, already owned two stores, Tianbao Rongjinpu and Yongsheng Bank, which were engaged in gold, foreign exchange and foreign currency trading. As soon as he became sensible, Lee Shau Kee was sent to a private school for education, familiarized with the four books and five classics, and became interested in reading ancient books. At the age of 1, my father also hired Mr. Liang Huimin, a professor of literature at Sun Yat-sen University in Guangzhou, as the new teacher of Lee Shau Kee. Mr. Liang Huimin found that Lee Shau Kee was diligent in thinking, so he often put forward some questions in combination with the curriculum to enlighten his thinking.
On one occasion, after teaching "Zhi Zhi has a definite future, then he can be quiet, then he can be calm, and then he can think about it, and then he can get it", Mr. Liang asked Lee Shau Kee to combine this truth with real life. Soon, Lee Shau Kee, a teenager, gave an old-fashioned answer in combination with the gold shop business he had had a lot of contact with: "For example, if a person has only one dollar to do business, he has to buy goods with one dollar. It's fun to make money, but forget it if it's eroded. If you know what is appropriate, you will not be confused, so that your body and mind will be settled, and you will not be attacked by evil thoughts. You will be able to see your nature clearly, your thoughts will be quiet, and you will be calm and calm. At this time, you will be able to do things calmly and carefully, and you can plan your future career development, and your natural achievements will be' earned'. " Mr. Liang Huimin felt deeply after listening to it.
from the age of 6, Lee Shau Kee was arranged by his father to study business in the shop at home. Mother was a little worried that her son was too young to cope with the older guys, but Lee Shau Kee soon became his father's right-hand man, smart and witty, with excellent mental arithmetic skills.
in the gold shop industry, there is a saying that "playing gold to steal gold, playing silver to steal silver". When Lee Shau Kee entered the shop, he found that this problem also existed in his own goldsmith shop. He wanted to tell his father the news and ask him to take measures, but the goldsmith was in short supply and could not afford to offend, so he was worried that the goldsmith's departure would affect the business of the gold shop. In a dilemma, he decided to learn gold casting technology by himself and no longer be subject to others.
By the age of 12, Lee Shau Kee had mastered the core technology and knowledge of gold reading, melting and melting, and soon became the head cabinet of Tianbao Rongjinpu, becoming a prodigy and gold wizard who was well known in Shunde. His vision of gold identification and gold refining technology were admirable. He also understood a truth from it: it is better to rely on yourself than on others. To be a boss, you must have excellent skills. During the Anti-Japanese War, the trading of ocean paper by the Central Bank of the National Government was still active, because people thought it could still be used on the day of recovery. It is also for this reason that everyone only likes to keep complete, straight and smooth paper money, because it will not be damaged until the day of recovery. In this way, the value of residual coins and dirty coins will drop by 3% to 4% when trading. Because the family also deals in paper money, this problem has attracted Lee Shau Kee's attention.
After that, inspired by laundry, he invented a way to change the old money into a new one: soak the old paper money in water, wash the stains with bleaching powder, coat it with a layer of protein to make it tough, and then air-dry and iron it. He received it at a discount of 6% to 7%, cleaned it quietly, but exchanged it at a full price. Not only did he earn a lot of profits, but he also got an extra reason for doing business: whenever and wherever the goods want to sell well, they must be well packaged.
Mr. Li Jiefu also has business in Guangzhou Bay, so he needs to take care of him frequently. Seeing that his son was in charge of the overall situation, he simply handed over all two stores in Shunde to Lee Shau Kee. At the age of 15, Lee Shau Kee, who assumed a heavy responsibility, did not live up to high expectations, and his business was booming. After the Japanese defeat, the currency depreciated sharply. Although Lee Shau Kee was well-run and managed the pavement in an orderly way, his father still hoped that he would find another way to find a better place to display his talents. In 1948, Lee Shau Kee, who had been a shopkeeper for four years and had been fully honed, went to Hongkong alone with 1, yuan. At that time, there were twenty or thirty gold shops and silver shops in Wen Xian East Street, Central, Hong Kong, specializing in gold trading, foreign currency exchange, remittance and other businesses, and their business nature was no different from that of Li Jiefu's Yongsheng Bank in Shunde. When he first arrived in Hong Kong, Lee Shau Kee took advantage of his familiarity with currency exchange business, put up bills in several silver shops, and engaged in buying and selling foreign exchange and gold. At that time, during the war of liberation, many rich people from the mainland went to Hong Kong, and the foreign exchange business and gold trading business were very prosperous. Lee Shau Kee cooperated with He Xian and others, and made a fortune in this golden war, which laid the foundation for the development of his later career.
In the early 195s, after the liberation of the mainland, Britain quickly recognized the status of China and established diplomatic relations. Lee Shau Kee realized that Hongkong would become a bridge for China to the world, so he switched to hardware business and import and export trade, and the business was very smooth. At that time, the population of Hong Kong increased rapidly, industry and commerce began to develop, and the housing construction plans of the government and the market could no longer meet the growing demand. Lee Shau Kee, which has long believed that physical objects are more valuable than currency, decided to March into physical objects (real estate). Later, when Lee Shau Kee recalled his life in those years, he said, "When I was seven or eight years old, I often went to my father's bunk for dinner. Since I was a child, I have been exposed to business. Later, I worked in Yinzhuang, which made me deeply realize that all legal tender, counterfeit money, gold dollar coupons, etc. can become waste paper overnight with the political changes, which made me realize that holding physical objects is the best way to preserve value."
In p>1958, Lee Shau Kee, Feng Jingxi, Guo Desheng and other eight people formed Yongye Company and started to set foot in the real estate business. After the establishment of the company, they introduced the method of "layered sale and ten-year installment payment", which was aimed at the middle and lower class citizens and changed the past real estate management mode, making the business very hot and all the buildings built were sold out.
in p>1963, Lee Shau Kee, Guo Desheng and Feng Jingxi reorganized Yongye and established Sun Hung Kai Enterprise Co., Ltd.. Mr. Guo Desheng, who is older and owns 4% of the shares, is the youngest, and Lee Shau Kee, who owns 3% of the shares, is the vice chairman and general manager.
As the general manager, Lee Shau Kee is mainly responsible for three things: first, drawing design of building, second, buying land, and third, building sales. For these three things, he did everything himself, and used this to develop his skills. Lee Shau Kee can tell at a glance whether there is something wrong with the design of the drawings, which makes his planners from famous universities feel sorry for themselves. It is also very good at buying land. Once, he got the news that Zheng Zongshu, the owner of the old land of Regent Building in Queen's Road Central, intended to sell the land and had verbally promised to sell it to others. He quickly asked: "Who is familiar with Zheng Zongshu?" The left and right people can't answer, and they are reminded that the other party will sign the sales contract in the lawyer's building tomorrow. Hearing this, Lee Shau Kee nodded and said, "That means I still have time for tonight." Sure enough, he found a way after many inquiries, and called in the early morning to find a friend who was familiar with Zheng Zongshu. In a few days, I got the land. In the years since then, he has always maintained this spirit of identifying goals and perseverance. Lee Shau Kee's method of acquiring land is also different. According to "Chinese Business Strategy", in Hong Kong, Henderson Land rarely participates in government land auctions, but there are always ways to buy sites with high quality and low price. This is mainly because Lee Shau Kee has two magic weapons. The first is to purchase the "B-type land exchange rights". At that time, the Hong Kong Government expropriated agricultural land in the New Territories for development purposes. It first reclaimed land from farmers in batches by land exchange rights, and then exchanged it with the government when the land for building houses was allocated centrally. This makes many farmers who want to cash out immediately have nothing to do with the land exchange rights before the government land exchange order. Lee Shau Kee bought their land exchange entitlements in cash, which was both popular and cheap. As soon as the government announces the development plan, a large number of rights and interests books he bought will become developable land. The second way to purchase land is a huge systematic project-the reconstruction of old buildings. Buy the old building in the golden zone and build a new building in the old one. This method has multiple benefits, the developers will benefit, the city will be refreshed, the old owners will cash out and the government will increase taxes. However, it is very hard, because the acquisition of a small property (such as a household) alone cannot support the development plan of a real estate project, so Henderson Land has also developed a unique skill-building merger. By purchasing properties from multiple owners on a target site, the land can be obtained by rounding up the parts. In order to receive the old building, he set up in tight encirclement, not only facing Hong Kong, but also looking for a building to buy in the resettlement places where expatriates left property in Hong Kong. The merger is extremely difficult and complicated. If an owner doesn't sell, he will lose the whole game, but Henderson Land has a special liking for it. For decades, there have been countless mergers. Lee Shau Kee has another famous saying about this: "Every inch of land is contested", which has also spread everywhere.
in terms of sales, Lee Shau Kee has also made bold innovations. At that time, most properties in Hong Kong were sold as a whole, and a large number of middle-income groups were sighing at this. Therefore, he created a method of layered sales and installment purchase (mortgage) to build and sell buildings, which was very popular. In a short time, Sun Hung Kai enterprises emerged in the real estate industry and made a lot of profits. Lee Shau Kee, Guo Desheng and Feng Jingxi have also been dubbed as "Three Swordsmen" by the industry. The installment purchase initiated by Lee Shau Kee has been widely adopted since then, which has played a very good role in helping Hong Kong people to live and buy their own homes. In 1972, Sun Hung Kai Properties was officially listed, and the "Three Musketeers" who had worked together for more than ten years also broke up at this time. After the breakup, Lee Shau Kee got about HK$ 5 million worth of sites and properties, and he used these properties to cooperate with Hu Baoxing at the end of 1972 to form Yongtai Jianye Co., Ltd.. Hu Baoxing is the chairman of the board of directors and Lee Shau Kee is the vice chairman. At the beginning of 1973, just when the Hong Kong stock market was bullish, Lee Shau Kee took the opportunity to list Yongtai Company, and the stock of one yuan per share rose to one yuan and seventy cents, and Lee Shau Kee made a lot of money. After that, the Hong Kong stock market collapsed with the world economic recession, and the real estate industry also fell into a trough. Lee Shau Kee was holding a huge amount of cash at this time. He seized the opportunity and bought land and old buildings at a low price.
in p>1975, the Hong Kong stock market began to recover. Lee Shau Kee set up his own company-Henderson Land Co., Ltd.. The share capital is HK$ 15 million and there are 2 sites. After the establishment of the company, Lee Shau Kee intends to list Henderson Land. He chose the most convenient method-buying a shell to go public, that is, buying a small listed company and then transforming it to go public. Lee Shau Kee's eyes aimed at Yongtai Jianye Company, which he co-founded. He exchanged his property for 19 million new shares of Yongtai and became the largest shareholder, replacing Hu Baoxing as the chairman of Yongtai's board of directors. After Lee Shau Kee took over Yongtai, he injected the general public-oriented business methods into Yongtai, which made Yongtai develop well and its share price rose, from less than one yuan to three to four yuan in early 1976.
under the management of Lee Shau Kee, Yongtai's business is booming and its profit is growing rapidly. By 1979, Lee Shau Kee decided to send new shares due to the more than doubling of profits. As a result, Yongtai had more than 1 million shares, with a market value of more than 9 million yuan and more than 2 properties. According to the laws of Hong Kong, private individuals cannot own more than 75% of the shares of a listed company. Lee Shau Kee already owns 7% of the shares in Yongtai. His purpose is to directly list Henderson Land as Yongtai Corporation as soon as possible.
when Henderson Land was founded, it only had a capital stock of 15 million yuan and 2 properties. But a few years later, its territory surged to more than 1. In Hong Kong, where land is scarce, it is by no means easy to continuously acquire enough land for building houses. Lee Shau Kee has increased its land reserve for itself with its unique vision and way. His method is to buy old buildings and then demolish them for sale. Most of these old buildings are in urban areas, so their development potential is amazing.
Lee Shau Kee has been advertising in Chinese newspapers in Europe and America for many years to buy old buildings in Hong Kong. This move is convenient for overseas Chinese, and it also enables Lee Shau Kee to achieve optimal benefits without competitors. After buying an old building, he will buy the whole building one after another, and then gradually buy the surrounding buildings. At the end of the acquisition, he will buy it even if the price is higher. Because even so, it is more cost-effective than official land bidding. Lee Shau Kee manages its real estate industry in an industrialized way. He regards land as raw materials and buildings as finished products. The continuous purchase of land and the continuous production of finished products have made Henderson land a "building manufacturing factory" among the population of Hong Kong.
In June, 1981, in another wave of frenzy in the Hong Kong stock market, Lee Shau Kee successfully listed Henderson Land, raising one billion Hong Kong dollars in one fell swoop, enriching its own strength. Successfully passed the low tide when Hong Kong's status was uncertain in the early and mid-198s. After the low tide in the mid-198s, Lee Shau Kee and his Henderson land enterprise went up a storey still higher.
In p>1983 and 1984, Hong Kong's economy was depressed due to the handover of sovereignty, and many companies were deserted. Lee Shau Kee just split Henderson Land into Henderson Land Co., Ltd. and listed it on July 23, 1981, which not only had a large number of properties under construction, but also had loan relations with more than 2 banks. It is the trust given by banks and builders, as well as the large amount of purchases driven by the strategy of small profits but quick turnover, that enabled him to pass the biggest test since doing business smoothly. In 1985, after the sovereignty issue became clear, Hong Kong's economy began to pick up. In 1988, Henderson Land Company acquired Yongtai Jianye in an all-round way and renamed it "Henderson Land Development Co., Ltd.". At the same time, Henderson Development announced the issuance of 1.2 billion new shares. As the company owns 28.7% of the shares of Hong Kong Ferry Company and 26.4% of the shares of China Gas Company.
At this point, Lee Shau Kee's carefully designed acquisition and annexation war finally achieved a happy ending. By completely annexing Hu Baoxing, which was stronger than him, Lee Shau Kee achieved the goal of using others to develop itself. Lee Shau Kee's backdoor listing, acquisition and annexation tactics are still a successful example in the stock market acquisition war and a famous example often cited by Hong Kong economics professors in their classes.
Lee Shau Kee also jumped into the list of Hong Kong's top ten richest people. When judging Lee Shau Kee, Li Ka-shing, Guo Desheng and Zheng Yutong, the authoritative personages in the real estate industry in Hong Kong once had such comments: Changjiang Industry is brilliant; Sun Hung Kai Properties is steady and promising; The courage to develop the new world is compelling; Henderson has a far-sighted vision and takes the lead. As early as 198, Henderson Land invested in the projects of China Hotel and Garden Hotel in Guangdong, and then accelerated the pace and completed a number of investment projects represented by Henderson Center in Beijing, which cost 3.3 billion RMB. After 199, Henderson Land took part in a large number of commercial building projects in Hong Kong and the Mainland, such as the construction of many large-scale landmark projects such as international finance centre, the private development project with the largest cost in the world at that time. At the same time, it caters to the increasingly strong purchasing power and consumption demand of ordinary citizens, improves the quality of houses in an all-round way, and constantly increases recreational facilities of clubs on large-scale high-density sites to enter the high-end property market. In the new era, we will continue to firmly grasp the market trend and lead the development.
in February, 1993, he, Zheng Yutong and Mr. Stanley Ho acquired the Canadian company Westcoast Peboleam for HK$ 1.49 billion. In August 1994, the Canadian property Baifuxuan (with a total floor area of 16,3 square meters) was sold with a market value of US$ 16 million. Henderson Land invested heavily in mainland real estate in 1992. By June 1993, there were 2 sites in mainland China for the development of the group, with a total floor area of over 1.858 million square meters, which were distributed in Beijing, Shanghai, Guangzhou and Shenzhen, and the purchase cost was less than 1% of the total assets of the group. In the second half of 1993,