Chapter 1283 Yang Ming Meets the Third Generation Leader of the Guo Family!

In 1973 and 1981, Wing On Group had two major developments in the real estate industry, but unfortunately missed the development opportunities due to timing, resulting in limited development.

In 1973, Wing On rebuilt the Wing On Department Store building between Central and Sheung Wan into a modern commercial building, Wing On Center, through stock splits, bonus shares and rights issues.

However, due to the stock market crash and rising interest rates, the development cost of Wing On Center was higher than expected, and the rental income after completion was lower than expected.

In 1981, Wing On Group acquired Fortuna Hotel and spent HK$230 million to purchase Wing On Plaza Shopping Mall in Tsim Sha Tsui East and some floors of Nanyang Center, but the stock market and real estate collapsed again.

Both major developments were unsatisfactory.

Entering the 1980s, the second generation of the Guo family, including Guo Linbao and Guo Linshan, died one after another, and Wing On Group entered the period of the third generation of the Guo family at the helm.

Unfortunately, at this time, Wing On Group was a bit decadent and complacent. Wing On's business, except for Wing On Department Store, which has made some progress, the rest of the banks and life insurance are all on the decline.

As one of the four major companies in Hong Kong (Sincere, Wing On, Dah Sing, and China Department Store), Wing On's social status has declined rapidly. Under such circumstances, Wing On Group was inevitably attacked by emerging forces.

The predecessor of Wing On Group was Wing On Life Group Co., Ltd., which was established in January 1973 to coordinate the affiliated companies under Wing On and become the holding organization of the entire family business.

In August of the same year, Wing On Life Group was listed in Hong Kong. At that time, Wing On Life mainly wholly owned Wing On Life Insurance Co., Ltd. and Wing On Real Estate Securities Investment Co., Ltd., and later acquired major affiliated companies, successively owning 72.89% of Wing On Fire and Water Insurance, 30% of Wing On Bank, 20.19% of Wing On Company (which operates department stores and was listed in Hong Kong before the war), and 30% of Wing On Real Estate.

In June 1974, in order to strengthen unity and overseas connections, Wing On Life Insurance exchanged shares with Singapore Overseas Chinese Bank, which acquired 25% of Wing On Life Insurance and became the second largest shareholder.

At this time, Wing On Life Insurance also developed into a diversified holding company. In 1981, Wing On Life Insurance was officially renamed Wing On Group Co., Ltd., and the restructuring of the old family business was initially completed.

In 1983, Guo Linshan passed away, and Guo Zhiquan, the eldest son of Guo Linbao, who had a Ph.D. in physics from Harvard University in the United States and a former researcher at the IBM Research Center, became the chairman of the board of directors of Wing On Group. Wing On officially entered the third generation of the Guo family at the helm.

During this period, the business of Wing On Group was mainly life fire and water insurance, securities investment, financial futures, banks and department stores operated by Wing On Company. However, among these businesses, except for the department store business, the rest of the financial futures, insurance, banks, etc., lost a lot of money in a muddle.

On the one hand, it was precisely because of the long-term losses that its own strength was greatly damaged that Zheng Yutong and others saw an opportunity to take advantage of.

On the one hand, the current increase in land prices and properties in Hong Kong has aroused the covetousness of Zheng Yutong and Li Jiacheng.

However, after Guo Zhiquan talked with the Zheng family and others, Zheng Yutong and others felt that the Guo family and Yongan Group were weaker, giving them greater confidence and opportunities.

Yang Ming sat in the car and thought of the Guo family and Yongan Group in history.

Of course, Yang Ming's every move now attracts attention.

This time, Yang Ming went to Haojiang for such a long time and has been watched by people.

Many Hong Kong families are not afraid of anything, but they are most worried about the interference of the Empire Group and Sir Yang.

Like this time, Zheng Yutong and others joined forces to snipe Guo's Yongan Group. What they are most worried about is indeed the Empire Group's move.

When Yang Ming's Rolls-Royce car stopped.

When he got off the car, he had already seen Lin Dezhong, Zhong Chuhong, Guan Jiahui, Lan Jieying and others.

These three women did not follow Yang Ming to Haojiang this time, and they were really not used to it. Now that they see Yang Ming finally come back, the smiles on their faces are very different.

"Master, Mr. Guo is waiting for you in the garden."

Yesterday, Guo Zhiquan had learned that Sir Yang was coming back, so he came here early in the morning to wait for Yang Ming.

In fact, the Guo family, which was once one of the four major families in Hong Kong, the earliest comprador family, and one of the four most powerful families at that time, is now far behind the Li family, which was also one of the earliest comprador families.

Now the Li family is not only known as the Causeway Bay King of Hong Kong, but has taken the initiative to approach Yang Ming and the Empire Group in recent years, opened many technology companies in the Hong Kong Science and Technology Park, and invested heavily in China. The power of the Li family in Hong Kong is still very strong.

It is precisely because of that that no one dares to snipe the Li family.

However, the Guo family is different.

When Yang Ming and Lin Dezhong came to the garden, they soon saw a middle-aged man wearing a suit and glasses, who looked gentle and gentle.

This is Guo Zhiquan, the third-generation head of the Guo family and a top student who graduated from Harvard University.

However, it is not because he is a top student at Harvard University that he has strong management skills. On the contrary, in his hands, the Guo family Yongan Group has been losing money and is now getting more and more bleak.

It is obvious that the helmsman of the Guo family and Yongan Group has poor ability and direction, and has not been able to point out the development path for Yongan Group.

"Hello, Sir Yang."

Seeing Yang Ming, Guo Zhiquan hurriedly greeted Sir Yang.

Compared to Sir Yang and Empire Group, the Guo family and Wing On Group are like mosquitoes and cows.

The strength is too far apart.

Yang Ming shook hands with him and sat down.

When Lin Dezhong picked up a newspaper and handed it to Yang Ming, the content on the newspaper was very clear. Zheng Yutong and others from Hong Kong New World Group joined forces with many emerging Chinese families to snipe the old family Guo family Wing On Group.

The content above was very detailed, and Yang Ming knew it without Guo Zhiquan telling him.

In other words, at this time, Zheng Yutong and others wanted to swallow up the Guo family Wing On Group, just like Sima Zhao's heart was known to everyone.

"Sir Yang, I hope to save the Guo family and Wing On Group." Guo Zhiquan said.

Yang Ming did not agree directly.

Instead, he asked: "Your Guo family and the former Li family, Li family, He family, Zhou family, etc. are the earliest representatives of the old comprador families in Hong Kong. Why did this problem arise now?"

Many companies, especially Chinese companies, are prosperous and declining.

Even, wealth cannot last for more than three generations.

Although the Guo family is still very rich in Hong Kong, compared with the first and second generations, each generation is really worse than the previous one.

In fact, there is a big relationship here.

That is, these Chinese families are unwilling to use the model of professional managers to manage the company.

Like the Guo family, they all manage the company with their own family members, especially the head of the family. However, if the head of the family is not capable and the company's development path is unclear, then each generation will definitely be worse than the previous one.

On the contrary, Europe and the United States like to use the model of professional managers to manage the company, and the family's major shareholders try not to interfere in the company as much as possible.

Guo Zhiquan has been thinking about this issue.

"Sir Yang, first of all, my personal ability is not good enough, and then the Guo family and Yongan Group missed two best development opportunities. In addition, our old family has a longer development time, and the policy is more conservative."

This is Guo Zhiquan's idea, but he is really unwilling and dare not let him hand over the company to others to manage.