Siheyuan, Shazhu: I have both parents in this life

Chapter 261 Foundation
During the Lunar New Year, He Yushui and Wang Siyu did not return to Hong Kong, but they did make a phone call. He Yushui did not ask to speak with He Yuzhu. He Yuzhu asked Xiaoman to tell her that if she did not do well in her studies, she did not need to come back. This was both a spur and an encouragement.

In 1974, Hong Kong was filled with the desolation of surviving a catastrophe.

Like a mudflat after the tide has receded, the Hang Seng Index finally found temporary support around 150 points. The once bustling exchange was deserted, leaving only the sighs of those who were trapped and the despair of those who went bankrupt.

The atmosphere at the top of Huanghe Industrial's financial warfare lab is quite different.

The huge electronic screen flashed the Hang Seng Index candlestick chart, and at the end of the steep downward curve were precisely marked green dots.

"Brother Zhu, the Hang Seng Index has reached 150 points, confirming a bottom and stabilization. As per your instructions, all targets—Sun Hung Kai Properties, Hang Lung Properties, Great Eagle Holdings, and several high-quality industrial stocks we selected—have been successfully bought at the bottom. The average cost price is lower than their net asset value per share, and even close to their IPO price. All funds have been converted into equity."

She handed He Yuzhu a detailed portfolio report.

The report now lists astonishingly low prices and a large percentage of shares held by Yellow River Industry, following the names of those real estate giants who were riding high before the stock market crash.

He Yuzhu took the report, quickly scanned the key data, and nodded slightly.

“Well done. These shares are the foundation, not bargaining chips. Tell everyone that not a single share is to be moved without my instructions.”

"Understood." Xiaoman nodded.

She knew that Brother Zhu's gaze had already moved beyond the numbers before him and was now fixed on a more solid future.

He Yuzhu channeled the enormous wealth generated by the oil boom into his real businesses, aiming to solidify his foundation.

The massive construction machinery for the third phase of the Tseung Kwan O oil depot has arrived on site, and the sound of pile driving is deafening day and night, with the outline of the huge storage tank foundations beginning to emerge.

The technology upgrade plan for the refinery has been finalized, and the latest catalytic cracking unit ordered from Europe is being loaded onto a ship.

The fleet of ships sailing on the Yellow River is quietly expanding.

However, He Yuzhu's vision was not limited to energy.

He, coming from a later generation, knew that the essence of Hong Kong lay in its land and its people.

“Public housing policy is an opportunity for us to settle down.” At the core meeting of Yellow River Real Estate, pointing to the large map of Hong Kong hanging on the wall, the vast land of the New Territories was highlighted.

"To address the hardship faced by the Hong Kong government after the stock market crash, it is imperative to build public housing on a large scale. This is what the people want, and it is also key to establishing the 'Yellow River' brand and building trust with the government."

He then pointed to the map: "Land prices in the New Territories, Tuen Mun, Yuen Long, Sha Tin—they've hit rock bottom. We'll buy as much as we can with the cash we have! Don't worry about short-term gains in one place; what I want is development space for the next ten or twenty years!"

"Yes, boss!" Ah Lang and Chen Sheng, who were in charge of the real estate sector, responded in unison.

Their eyes gleamed; having followed He Yuzhu all this way, they knew the depth of his plans.

Accumulating land in the New Territories at low prices, in conjunction with the government's public housing program, signifies massive infrastructure projects, stable cash flow, and immeasurable future development potential.

Just as Yellow River Industries was quietly acquiring land in the vast New Territories like a silent behemoth, accumulating strength for public housing construction and future new town development, a piece of news stirred up ripples in the stagnant real estate industry like a stone thrown into a calm lake.

At a press conference, Li Ka-shing, Chairman of Cheung Kong Holdings, announced an ambitious plan: "To revitalize funds and recover cash, several of Cheung Kong Holdings' new projects located on the outskirts of the city and in the New Territories will launch 'sale by gross floor area' (i.e., selling off-plan units)! Buyers only need to pay a small deposit to reserve their future unit and enjoy opening discounts!"

The news caused an uproar in the market.

At this darkest hour, with the property market frozen and citizens generally adopting a wait-and-see attitude, Li Ka-shing's move is undoubtedly an attempt to break the deadlock and leverage current cash reserves with future expectations.

Some small real estate developers who were stuck with their investments seemed to see a lifeline and were eager to make a move.

The news reached Yellow River Industry.

He Yuzhu was reviewing the construction drawings for the third phase of the Tseung Kwan O oil depot. Upon hearing this, he merely raised his eyelids and a cold smile curled at the corner of his mouth.

"Selling houses by floor area? Mr. Li has quite the audacity, trying to leverage other people's money to his own advantage."

He put down the blueprints and said to Chen Sheng, who was standing to the side, "If he wants to play with fire, we'll fan the flames for him. Send word that we should immediately start leveling work on the plots of land in the New Territories, especially those adjacent to the new developments in Cheung Kong. At the same time, spread the word that Wong Ho Properties will build large-scale, well-equipped affordable housing estates on these plots. The first batch of units will be sold based on usable floor area, and the price... will be set at cost."

“Cost line?” Chen Sheng was shocked. “Boss, although our initial land acquisition cost was low, when we add in the infrastructure and construction costs, selling at the cost line will leave us with almost no profit, and we might even incur a slight loss!”

“That’s exactly the effect we’re aiming for.” He Yuzhu’s tone was calm, yet carried a resolute force. “Mr. Li wants to attract buyers with the gimmick of ‘gross floor area’ and future expectations, so we’ll shatter his expectations with a truly low price and ‘ready-to-move-in’ usable floor area. We’ll show buyers what real value is and what empty promises are. Our goal isn’t to make money, but to ensure that not a single unit of his pre-sale apartment sells!”

He paused, his eyes sharp: "Furthermore, contact several familiar newspapers, especially Ming Pao, and thoroughly 'educate' people about the tricks involved in 'gross floor area' and 'usable floor area,' as well as the risks that off-plan buyers may face during a property market downturn. Also, 'remind' the relevant Hong Kong government departments whether, under the current circumstances, the pre-sale system should be subject to stronger regulation to protect the rights of ordinary citizens?"

He Yuxin, Chen Sheng, and Xian Xingyao, who were standing to the side, exchanged glances and saw the coldness in each other's eyes.

The boss is using a combination of tactics: squeezing market space with ultra-low-priced spot goods, exposing industry malpractices and risks through public opinion, and then undermining the industry's foundation with potential regulatory pressure.

The goal is clear: to completely block Cheung Kong Holdings' path of recovering its losses by selling pre-sale apartments, and drag it into a quagmire of depleted cash flow.

"Understood! We'll get right on it!" Chen Sheng replied hastily.

a few days later.

The sales office of a new Cheung Kong Holdings development in Sha Tin was deserted.

A handful of prospective buyers, holding brochures, listened as the saleswoman tirelessly described the "high cost-performance ratio" brought by the "building area" and the future appreciation prospects, but their eyes were full of doubt.

"I heard that they've already started bulldozing on the land next to Huanghe, saying they're going to build an affordable housing estate. The price per square foot seems to be only... seventy-something Hong Kong dollars?" a prospective homebuyer whispered to his companion.

"Seventy-something? That's the usable area? The total building area here is almost one hundred, but I heard the usable area is only a little over seventy... That's a huge difference!" His companion exclaimed in astonishment.

"Yes, the newspapers have been saying these past few days that buying pre-sale apartments is risky, what if the developer's cash flow dries up..."

"Let me take another look, let me take another look."

Similar conversations were quietly circulating in several of Changjiang's sales offices.

Meanwhile, an article in the financial section of Ming Pao, titled "The Myth of 'Gross Floor Area' and the Risks of Off-the-Shelf Apartments - Ordinary Citizens Need to Be Vigilant When Buying a Home," provided a detailed analysis of the huge difference between the gross floor area and the actual usable area, as well as the risks of unfinished projects and discrepancies between the advertised and actual properties that may be encountered when purchasing off-the-shelf apartments in the current economic environment. The article also subtly mentioned the necessity of regulation.

The article was like a bucket of cold water, extinguishing the last remaining enthusiasm in the market for pre-sale apartments.

On a plot of land in the New Territories, large machinery roared day and night as Huanghe Industrial leveled the land. The scene was captured intentionally or unintentionally and then quietly spread through various channels along with eye-catching advertisements such as "Huanghe Affordable Housing Estates, Practical Unit Types, Sold at Cost, and a Commitment to Comfortable Living".

The effect is immediate.

Cheung Kong Holdings’ ambitious plan to “sell pre-sale apartments and sell by gross floor area” has suffered a devastating blow.

Very few customers registered their interest, and the few who had already placed small deposits also requested refunds.

The anticipated huge cash inflow vanished, and Cheung Kong Holdings' already strained cash flow, strained by the stock market crash and the real estate market collapse, suddenly sounded a piercing alarm.

In his office, Li Ka-shing frowned as he looked at the alarming cash flow report and the continuously declining company stock price delivered by the CFO.

The risky move of "preselling apartments" has completely collapsed.

Instead of receiving the expected life-saving funds, the initial investment and the meager number of customer refunds tore open even bigger wounds.

The collection calls from HSBC were getting more and more urgent.

“Mr. Li, it’s Sir Zhou on the phone.” The secretary’s voice was very soft.

Sir Chow, a prominent figure in Hong Kong, had a long-standing friendship with the Li family.

A faint glint flashed in Li Ka-shing's eyes, and he immediately grabbed the microphone: "Uncle Zhou..."

“Jiacheng,” Sir Zhou said on the other end of the phone, his voice filled with the worry and a hint of helplessness of an elder, “you were too hasty this time. That guy from Huanghe… is very ruthless.”

“Uncle, I’m only trying to revitalize the company and find a way out. Why give him up… it’s too ruthless,” Li Ka-shing said emotionally.

“Ambience?” Sir Zhou paused. “In the business world, it’s all about the winner taking all. I’ve already asked someone to pass on a message to Mr. He.”

Li Ka-shing's heart tightened, and he held his breath: "What...did he say?"

"Mr. He's meaning is very straightforward." Sir Zhou paused, as if giving Li Ka-shing time, "The Hong Kong real estate market is a large enough game to accommodate multiple players. But Cheung Kong Holdings... should shift its focus and cultivate its core businesses. He suggests that you return to your old businesses of ports, container terminals, and retail. This... will be better for everyone."

Suggestions? Change direction? Focus on your existing expertise?
This is clearly an order to leave! It's an attempt to completely kick Li Ka-shing out of the core table of Hong Kong's future real estate market!

A surge of intense humiliation mixed with anger rushed to his head, and Li Ka-shing's fingers gripped the microphone so tightly that his knuckles turned white and the veins stood out.

He suppressed his churning blood and qi, but his voice trembled slightly uncontrollably: "Uncle... did he say this himself?"

"Jiacheng, the message has been delivered. Mr. He is now...unstoppable. You...you'd better watch yourself." The phone was hung up, the empty dial tone echoing.

"Bang!" The microphone was slammed heavily onto the landline, Li Ka-shing's chest heaved violently, his eyes filled with resentment.

He Fei, you've gone too far! You expect me, Li, to hand over my hard-earned real estate empire? No way!

Desperate circumstances brought out the ruthlessness in Li Ka-shing's bones.

Since making peace is a dead end, then let's fight to the death!
He summoned his confidants overnight. The dimly lit conference room was filled with smoke, and a secret plot to counterattack was being plotted under duress:

Using its connections at HSBC, Yangtze River, in alliance with medium-sized real estate developers squeezed out by Yellow River, secretly bribed Yellow River's building material suppliers and contractors.

Offer them high prices and future orders, and ask them to deliberately delay the construction of the Yellow River affordable housing estate and create a shortage of key building materials.

Then they used their newspapers to launch a massive smear campaign against the Yellow River.

A few days later, in He Yuzhu's office on the top floor of Huanghe Industrial, A Lang knocked on the door and walked in. "Boss, something's not right. At the construction sites in Shatin Area B and Yuen Long Area C, several major contractors are suddenly making up all sorts of excuses—'not enough workers,' 'materials can't be delivered'—to postpone key milestones. The two cement plants we've been cooperating with for a long time are also vaguely saying that their supply will be reduced next month. And," he pointed to several newspapers on the table, "these things are coming on strong."

“I investigated thoroughly and found that Changjiang and a few small, struggling companies were stirring up trouble behind the scenes. They were poaching our customers and inciting our suppliers. In terms of public opinion, the focus was on accusing us of dumping, disrupting the market, and questioning our quality.”

“A death throes,” He Yuzhu said calmly.

"Boss, what if the construction period is delayed..." Ah Lang said anxiously.

“Supplier? Contractor?” He Yuzhu sneered.

"Tell them that Huanghe Real Estate will pursue all delays and losses caused by their unilateral breach of contract or poor supply to the fullest extent of the contract, with no upper limit on the amount of compensation sought. At the same time, Huanghe Industrial and all its affiliated companies will permanently terminate all business dealings with them, effective immediately."

"Go find Old White and have him dig out all those people who acted as pawns and brokers between us. The evidence needs to be irrefutable, especially regarding commercial bribery and collusion. Once it's solid, send it 'anonymously' to the ICAC and the Commercial Crime Bureau. Let the government clean up these 'parasites'."

"Yes!" Ah Lang accepted the order and left.

He Yuzhu made a phone call, and then Chen Sheng arrived.

He Yuzhu threw the newspaper that A Lang had just brought over in front of Chen Sheng.

"These flies buzzing around? Contact all the newspapers we've been in touch with, especially Ming Pao and Wah Kiu Yip. Make all the design blueprints for our affordable housing estate, the list of all building materials' brands and specifications, and the rigorous construction supervision process public! Invite reporters and citizen representatives to visit the model apartments at any time, witness the construction site firsthand, and make the entire process open to public scrutiny! Use the irrefutable facts to shut up those who spew nonsense!"

"Yes, boss, I'll take care of it right away."

"Don't rush, there's one more thing. Have the finance department clarify and lay out the accounts. The cost of acquiring land in the New Territories, the allocation of infrastructure costs, and a detailed breakdown of construction costs (excluding those maliciously inflated prices) should be presented in a clear and transparent list and made public. The key point is to make it clear that our 'cost price' is based on our early planning and economies of scale, and is a sincere effort to give back to Hong Kong and support the Hong Kong government's public housing policy—it's absolutely not dumping! At the same time, give a strong critique of certain competitors who, for their own selfish interests, are willing to spread rumors, create trouble, and disrupt market stability!"

"Also, have Chen Sheng tell his men that the construction period cannot be delayed by even a day! The quality cannot be compromised in the slightest! Our affordable housing estate must be delivered to the eagerly awaiting citizens on time, to the required quality, and as promised! Anyone who dares to block the way—" His eyes suddenly sharpened like knives, "run them over!"

"Yes, boss."

After Chen Sheng left, He Yuzhu walked to the huge floor-to-ceiling window, overlooking the rising new city he had poured his heart and soul into, and whispered, "Trying to strangle me? Trying to smear me? You underestimate my foundation. In today's Hong Kong, no one can shake the Yellow River even a fraction with such despicable means!"

He Yuzhu's counterattack was swift, accurate, and ruthless, like a thunderbolt striking a vital point.

Just as Cheung Kong Holdings' stock price was beginning to recover, it plummeted as HSBC issued its ultimatum.

Li Ka-shing sat alone in his empty office, looking as if he had aged ten years overnight.

The secretary brought him the latest newspaper, the front page of which featured a huge photo of Ho Yu-chu shaking hands warmly with citizen representatives at the topping-out ceremony of the first batch of buildings in the Wong Ho Sha Tin affordable housing estate. It was like a resounding slap in the face.

He closed his eyes wearily.

Trying to remove the fuel from under the pot won't work; it won't shake the Yellow River's deep-rooted foundation in the earth.

The attempt to suppress public opinion backfired, and the overwhelming tide of truth forced them to retreat in disarray.

All their struggles proved laughable and futile in the face of He Yuzhu's absolute strength and ruthless methods.

He lost, lost completely.

Even so, Li Ka-shing ultimately did not give up.

He was unwilling to let He Yuzhu forcibly strip away the real estate empire he had built from scratch.

He decided to make one last gamble—to meet with He Yuzhu directly to negotiate.

This time, he used almost all the old connections he had.

Several highly respected figures in Hong Kong's business community, including Mr. Huo and Mr. Bao, jointly stepped forward in hopes of facilitating a meeting of a "reconciliation" nature.

He Yuzhu soon received many calls, but he did not give a clear answer.

Then these people started posting online. Right now, in He Yuzhu's office at the top of Huanghe Industrial, A Lang is holding up a post and asking He Yuzhu for his opinion.

"Boss, Mr. Huo and Mr. Bao have made their intentions very clear. They hope you can give Mr. Li an opportunity to explain in person and explore potential cooperation. The location is set at the Peninsula Hotel."

He didn't know why his boss disliked Cheung Kong Holdings so much, but in his opinion, what his boss did was right.

In his view, giving face to these bigwigs was optional.

"Fine, I'll give them face. They can decide the time and place; I'll only give them thirty minutes."

7 p.m., Peninsula Hotel, VIP Lounge.

The atmosphere was heavy, with Huo Sheng, Bao Chuanwang, and others in the middle, their faces showing the helplessness of peacemakers.

Li Ka-shing sat to one side, impeccably dressed in a suit, but the weariness in his eyes and the suppressed resentment deep within them were hard to conceal.

He Yuzhu brought only Ah Lang with him. Ah Lang sat opposite him, his posture relaxed, but his eyes were as deep and unfathomable as a cold pool.

After exchanging pleasantries, Li Ka-shing spoke first, attempting to adopt a humble tone: "Mr. He, in business competition, everyone relies on their own abilities. Cheung Kong's previous actions may have been somewhat excessive, and I apologize for that. Cheung Kong is indeed facing difficulties in this crisis, with HSBC pressing closer... I earnestly request that you, Mr. He, show some leniency regarding the New Territories project... perhaps leave Cheung Kong a way out? Or, could we explore some form of cooperation? For example, jointly developing certain plots of land..."

He Yuzhu picked up his teacup, gently blew away the foam, and didn't even lift his eyelids: "Mr. Li, there's no need for an apology. The business world is like a battlefield; it's all about winning and losing. There's nothing more to say. As for how to survive?"

He put down his teacup, his gaze sharp for the first time meeting Li Ka-shing's directly, his expression undisguised indifference:
"When you succumbed to Yihe and tried to kill me, did you ever think about leaving me a way out? When you poached my employees, stirred up public opinion, and tried to ruin my affordable housing estate, did you ever think about leaving me a way out?"

His voice wasn't loud, but every word was like an ice pick, piercing into Li Chao's heart:
"Hong Kong Properties has a huge business. But I'll set the rules. My advice to you is your last chance: focus on your core businesses and retail. Cheung Kong has no right to touch the docks and real estate market anymore. That's my bottom line, and it's your only way out."

Li Ka-shing's face flushed red instantly, then turned blue from the suppressed humiliation.

He Yuzhu's toughness and ruthless exposure completely shattered his last shred of dignity.

He suddenly stood up, a glint of desperate madness flashing in his eyes: "He Fei! Don't push your luck! Do you really think you can control everything in Hong Kong? I, Li, have built my empire from scratch, and I'm not someone to be trifled with! If you push me too far, we'll fight to the death! Don't forget, there are some methods that you're not the only one who can use!" He was implying those underhanded "black and white" methods.

He Yuzhu leaned back slightly in his chair, a faint, cold smile curving his lips, as if he had heard something utterly ridiculous.

"Total destruction?" He repeated softly, his gaze fixed on the ant that was baring its fangs and claws in vain. "Li Sheng, you overestimate yourself. Your 'jade,' in my eyes, is nothing more than a stubborn rock. And your 'destruction'?"

He slowly stood up, and his powerful aura instantly enveloped the entire room, making even the big shots feel breathless.

"Go ahead and try. Let's see if your underhanded methods are faster, or if my Yellow River Security's bullets are faster. Let's see if your HSBC friends can protect you, or if the ICAC and the Commercial Crime Bureau will invite you in for tea first. Let's see if the remaining bones of Cheung Kong Holdings are enough to fill my teeth."

He glanced at the several bigwigs and nodded slightly: "Mr. Huo, Mr. Bao, esteemed seniors, I apologize, I have other matters to attend to and must take my leave first. Thank you all for the tea."

After saying that, He Yuzhu took Ah Lang and left the VIP room without looking back, leaving Li Chaoren frozen on the spot, his face as pale as paper, his body trembling slightly from extreme anger and fear.

He Yuzhu's chilling gaze and words made him realize that he had completely offended this person. In the past, it was just business competition, but if they met again in the future, it would probably be a fight to the death.

News of the unpleasant meeting quickly spread, causing Cheung Kong Holdings' share price to plummet again, and HSBC completely lost patience.

Li Ka-shing had no choice but to cut his losses and sell off non-core assets on a large scale, shrinking his operations and shifting his main focus entirely to ports and retail, thus completely withdrawing from direct competition with Yellow River in the real estate sector.

The new landscape of Hong Kong real estate has been established.

A few days later, the Director of Housing of the Hong Kong government personally led a team to the headquarters of Yellow River Industrial.

Their goal was clear: to negotiate the construction of a large-scale public housing project in the New Territories.

Hong Kong government officials are well aware that the stock market crash has placed enormous pressure on people's livelihoods, making the construction of public housing an urgent matter.

With its strong financial resources, vast land reserves (especially in the New Territories), and the impressive execution capabilities it has just demonstrated, Yellow River Industrial is undoubtedly the most reliable and suitable contractor at this time.

He Yuzhu did not personally receive them, but entrusted the entire matter to A Lang.

"Mr. Hong, the boss's intention is that the public housing project is a matter of people's livelihood, and the government trusts us, so we have an unshirkable responsibility. You are to represent Huanghe in negotiations with the government and ensure that the project is completed smoothly, efficiently, and with high quality." The secretary conveyed He Yuzhu's instructions.

Ah Lang was thrilled. This was the boss's absolute trust in his abilities, and also a major test and opportunity for the Yellow River Real Estate sector.

He mustered all his energy and led the most elite team from Yellow River Real Estate in meticulous and efficient negotiations with the government delegation.

At the negotiating table, A Lang demonstrated Huanghe's pragmatic, efficient, and socially responsible style: precise planning, transparent costs, guaranteed construction period, and quality commitments were all provided.

A Lang's professionalism, meticulousness, and the strong capabilities demonstrated by the Yellow River Group left a very deep impression on the government delegation.

Although the negotiation process involved many details, it progressed smoothly overall, with both sides showing great sincerity.

Finally, the Director of Housing of the Hong Kong Government shook Ah Long's hand with satisfaction: "Mr. Ho has great vision, and Mr. Hung has strong execution! Huanghe Industrial's plan is well-planned, with transparent costs, a clear construction period, and guaranteed quality, which perfectly matches the government's goal of solving people's livelihood problems and stabilizing society! We are very confident in entrusting this project to Huanghe! We hope that both sides can work together to create a safe and prosperous place for the people of Hong Kong to live and work!"

"It's a pleasure to work with you, and we will do our best!"

After seeing the government delegation off, Ah Lang excitedly ran to report to He Yuzhu.

He wanted to tell his boss that it was a success; Huanghe had secured the project, which meant that it had established a deeper foothold in this Pearl of the Orient.

With the government's support, the Yellow River Group will move forward faster and more steadily in the future.

　Thank you to readers Sangeng and Shu10096 for the generous donations! Thank you for your support!

　　Also, if you have any tickets left at the end of the month, could you throw some in so I can round it up? I've been updating a decent number of words every day, haven't I?!

　　
　
(End of this chapter)