Years: Salted fish life since going to the countryside.

Chapter 1598 Mistakes Made Due to Lack of Common Sense

After leaving his room, Han Li did not choose to have breakfast at the hotel, not because he thought it was too expensive, but because he wanted to find out what kind of food nearby suited his taste.

Life in New York moves at a fast pace, and many people eat breakfast quickly as well.

Not long after Han Li left the Plaza Hotel, he saw many people in suits walking hurriedly down the street, carrying briefcases in one hand and sandwiches in the other.

This situation was similar to that in many places in Hong Kong. Han Li only glanced at it casually and began to look for the food he wanted to eat on the street.

Han Li walked a little further and saw Sarabeth's, which would later be known as the "Queen of Breakfast in New York".

The current Sarah's Breakfast Shop doesn't yet have the fame and scale it would later achieve, nor has it opened branches in other countries, but it still has a large number of customers.

The shop offers English scones, waffles, baguettes, seasonal fruits, as well as milk tea, coffee, and other beverages.

Han Li glanced at the menu and ordered two French breads, strawberries, and a cup of coffee. At this moment, the waiter recommended the store's newly revamped orange jam to him.

The waiter said that this orange jam was an improvement on their owner's family's secret recipe, a jam that perfectly blends oranges and apricots.

Han Li thought the other person's suggestion sounded good, so he ordered a serving of orange jam.

In New York, people eat breakfast in all sorts of ways: some pour honey on their bread, some soak it in milk or coffee, some spread butter on it, some spread jam on it, and so on.

Han Li spread jam on his baguette and ate it with a slice of coffee.

The waiter described the jam in glowing terms, mentioning its ancestral secret recipe and numerous improvements, but it tasted just so-so. Han Li didn't find any particularly special flavor in it.

After finishing breakfast, Han Li took a taxi to the New York Stock Exchange.

However, after Han Li went in to ask around, he came out looking very depressed.

Han Li's initial intentions before coming to New York were good, but reality was not what he expected at all.

This decision to try it out and test the waters stemmed from a report Han Li saw while he was in Hong Kong, which led to some investigations.

Testing the waters at the stock exchange? Testing what kind of waters? Which group or company has Han Li taken a liking to?
There are too many things about this industry that Han Li doesn't know, because he has almost no experience in this area.

However, he still knew about the case that had caused a sensation in Hong Kong and even in many other places, and was still used as a case study, concerning the corruption and fraud of a senior executive of a certain Jia Ning Group, which ultimately led to its liquidation and bankruptcy.

The owner of this Jia Ning Company is quite remarkable. He is from Singapore and initially engaged in the civil engineering business there. After going bankrupt in 72, he came to Hong Kong in poverty to seek new development.

After arriving in Hong Kong, Jia Ning's boss worked for the Chung brothers' company and participated in many hotel and building construction projects.

In 75, the owner of Jia Ning Company started his own business and bought a piece of land for 250 million. A year later, he sold it to a department of the Hong Kong government for 620 million.

Jia Ning Company was founded in 77 and went public in 78. At that time, no one knew who the company's owner was.

Next, Jia Ning Company used the "snowball" principle to obtain a large amount of funds from bank mortgages, and then used these funds to purchase valuable properties. In just two years, it acquired more than 30 plots of land of various sizes, and became a medium-sized real estate group in Hong Kong.

Subsequently, Jia Ning Company employed various tactics in the Hong Kong real estate industry, such as using other companies to acquire other companies and backdoor listings, to expand its scale. It also acquired 52.6% of the equity of a certain Bao* Group and a certain Mei* Enterprise.

Next, Jia Ning Company began to get involved in various industries in Hong Kong, including trade, shipping, tourism, insurance, film production, and pest control.

In January 1980, Jia Ning Group acquired the Jin Gate Building for HK$9.98 million.

On July 11 of the same year, Jia Ning Group paid the final payment for the Jin Gate Building, acquiring a 7% stake in the building.

Next, Jia Ning Group sold 75% of the equity in Jinmen Building to Jia Ning Real Estate for one yuan.

On August 14, a month later, Jia Ning Group announced that it had sold its stake in Jinmen Building for HK$11.8 billion.

However, the situation changed again. The transaction price for 75 Jin Gate Building was set at HK$16.8 billion, and the transaction was completed at the end of October.

In less than a year, Jia Ning Group made a profit of nearly HK$7 million by buying and selling the Jin Gate Building.

This situation propelled Jia Ning Group into the ranks of major real estate developers in Hong Kong, making it a legend in the investment industry and giving it a mysterious aura.

The news caused the group's stock to surge and sell like hotcakes, becoming the most sought-after stock on the Hong Kong stock market. The group's market value soared from HK$500 million to HK$3.6 billion.

Next, Jia Ning Group began to expand its business, not only by increasing its operations but also by venturing into countries such as Little Red Dot, Canada, and Singapore.

When the group company ran out of money, it went to the bank for loans. Given Jia Ning Group's market situation at the time, many banks in Hong Kong were vying to lend to them.

By the end of 1981, Jia Ning Group had borrowed 200 million from Huifeng Bank and, under the same name, borrowed 150 million from other banks in Hong Kong.

The above describes the glorious period of Jia Ning Group. It was like a legend in the real estate and finance industry, always undefeated and always able to create miracles.

In 1982, which is this year, Jia Ning Group announced that its net profit for the first half of the year reached more than 200 million, which once again triggered a frenzy of buying their stocks among the people of Hong Kong.

However, Han Li knew that this was almost the last gasp of the Jia Ning Group.

Next, the boss of Jia Ning Group will be involved in two murder cases, which will trigger various insider revelations and cause the group's stock to fluctuate.

In addition, with the property industry in Hong Kong sluggish this year, some people have begun to quietly sell their properties.

Even those who wanted to wait and see started inquiring about the current prices of their properties, a situation that Han Li's real estate company frequently encountered.

This situation is almost like money being handed to him. Han Li not only wanted to get involved, but he also considered whether he could get his hands on the 75% stake in the Jinmen Building.

However, the situation regarding Jia Ning Group was too complicated, and Han Li did not want to make a move on the Hong Kong stock market, which led to this trip to New York.

But things didn't go as planned, or perhaps Han Li's thinking was influenced by certain novels, and things weren't as he imagined at all.
(End of this chapter)