Chapter 578: Surprise Attack

With a clear purpose in mind, Xia Yu took immediate action and arranged for a team to gather all relevant information about the Sheliyuan Gold Shop.

Soon, all the information about Sheliyuan Gold Shop was presented to Xia Yu.

Sheliyuan Gold Shop was a company from Macao, belonging to the Xie family of Macao.

In 1867, a 17-year-old Xie Yutang founded the Sheliyuan brand in Macao's Qiao Zitou to create silver jewelry for the locals and later expanded into gold jewelry.

In 1944, Sheliyuan Gold Shop was the first to use electrolysis to purify gold and graphite to melt platinum. With this technology, Sheliyuan Gold Shop refined a large amount of mixed gold imported from around the world, producing up to 2,000 gold bars daily.

By being the first to adopt this technology, Sheliyuan Gold Shop expanded rapidly, opening new branches and greatly increasing its assets, strength, and brand recognition, becoming a well-known gold shop.

By 1967, when Sheliyuan Gold Shop celebrated its 100th anniversary, it had already been in operation for 112 years and was passed down to the third generation leader, Xie Zhixin, with the fourth generation successor being trained.

However, Xie Zhixin mismanaged the gold voucher business, leading to Sheliyuan Gold Shop's closure.

To avoid dragging down Sheliyuan Jewelry Company, which was also part of the Xie family, the Xie family sought to find someone to take over the gold shop and rid themselves of the burden, focusing entirely on managing Sheliyuan Jewelry Company.

Despite being a century-old establishment, Sheliyuan Gold Shop had a solid foundation.

The leading brand in Hong Kong's jewelry industry, Chow Tai Fook, was only founded in 1929, 62 years later than Sheliyuan Gold Shop!

Due to the talents of its operators, Chow Tai Fook's strength far surpassed that of Sheliyuan Gold Shop.

However, Xia Yu saw a significant advantage in Sheliyuan Gold Shop that greatly attracted him: the number of goldsmiths skilled in making gold and silver jewelry. There were 285 goldsmiths across three factories in Sheliyuan Gold Shop. Although their skill levels varied, their overall ability was among the best in Hong Kong and Macao.

If Xia Yu were to establish his own jewelry brand, he could spend substantial money and resources on promotion. However, in the jewelry industry, design and quality are fundamental, and such a foundation is not easily accumulated, and talent is not easy to recruit.

But now, by taking over Sheliyuan Gold Shop, he could gain access to this group of goldsmiths. With his capabilities, he could easily build a jewelry brand.

With the existing "Fashion Her" and "Fashion Mr." magazines from Jiuding Media Company, and other fashion magazines that would gradually appear, promoting a jewelry brand would be like cheating.

Seeing some of the information below, Xia Yu frowned.

Not only was he interested in Sheliyuan Gold Shop, but other companies in Hong Kong like Chow Tai Fook, Chow Sang Sang, Chow Liu Fook, and Tse Sui Luen Jewelry were also interested in the assets of Sheliyuan Gold Shop, aiming to acquire it to strengthen their own positions.

Currently, several companies were still in competition, and the Xie family was waiting for the right offer.

"Time is pressing; it looks like we need to make a surprise attack."

Xia Yu muttered to himself, then called Jiuding Securities, instructing them to send Wang Qi to his office.

Among his subordinates, Jiuding Securities and Jiuding Bank were the most proficient in acquisition matters. To acquire Sheliyuan Gold Shop quickly and smoothly, Wang Qi was the only one for the job.

Soon, Wang Qi arrived at Xia Yu's office, panting.

"Wang Qi, have some tea and then take a look at this."

"Thank you, Chairman!"

Wang Qi did not hesitate to drink some tea to calm himself before picking up the information on Sheliyuan Gold Shop and carefully reviewing it.

After a long time, he closed the documents and asked, "Chairman, are you planning to acquire Sheliyuan Gold Shop?"

Xia Yu nodded with a smile: "That's right. Your task is to acquire Sheliyuan Gold Shop. Make sure to retain those factories and goldsmiths, as well as the procurement channels and stores. The brand can be discarded."

"Understood!"

"Chairman, are there any other requirements?"

Wang Qi nodded and asked further.

"No, just handle it as you see fit! If you need assistance from any company, feel free to seek it. Just say I agree."

Xia Yu shook his head slightly.

"Got it, I'll get on it right away!"

Wang Qi finished his tea and left decisively.

Xia Yu showed an appreciative look.

After returning, Wang Qi immediately assembled a team for the acquisition, gathered more detailed information about Sheliyuan Gold Shop, and drafted a purchase plan overnight. The next day, he led his team to Macao.

In just two days, Wang Qi successfully acquired Sheliyuan Gold Shop, negotiating terms with the Xie family before Chow Tai Fook, Chow Sang Sang, and other jewelry companies had even reacted.

In Xia Yu's office, Wang Qi sat calmly on the sofa while Xia Yu reviewed the Sheliyuan Gold Shop contract and stock transfer documents.

After a long time, Xia Yu set aside the documents and praised, "Wang Qi, you did not disappoint me. Well done!"

Wang Qi smiled and humbly said, "Thank you for the praise, Chairman!"

"Keep up the good work. Assign someone to take over Sheliyuan Gold Shop and stabilize the situation. At the same time, register a new company named Eternal Jewelry. The loss-making gold vouchers of Sheliyuan Gold Shop will be redeemed by Jiuding Bank. I will send someone to take over the company later."

Xia Yu instructed Wang Qi after some thought.

"Understood!"

Renaming the company to Eternal Jewelry was a decision Xia Yu made after careful consideration. Although Sheliyuan's brand was well-known, the downside was that the Xie family still owned the Sheliyuan Jewelry Company brand, which blocked the possibility of Sheliyuan Gold Shop entering the jewelry industry.

Xia Yu did not want the Xie family to benefit from the global promotion of the Sheliyuan brand in the future.

Moreover, even though Sheliyuan Gold Shop was famous, it was only known in Hong Kong, Macao, and Southeast Asia, and did not have much global recognition. Losing it was not a big deal. The brand name was awkward for foreigners; changing it was better.

…

"Knock knock!"

"Come in!"

"Chairman, the acquisition failed."

As soon as he entered, Xu Bin, who was responsible for tracking the acquisition of Sheliyuan Gold Shop, reported with a look of shame.

Zheng Yutong frowned slightly and said, "What exactly happened?"

Xu Bin immediately reported, "We were competing with Chow Sang Sang, Chow Liu Fook, and other companies. Everyone's bottom line was similar, so we were entangled in negotiations. However, Jiuding Securities made a surprise attack. By the time we found out, Jiuding Securities had already reached an agreement with the Xie family, and we don't know the specific terms."

Upon hearing the name Jiuding Securities, Zheng Yutong took it very seriously and was not displeased with Xu Bin's lack of detailed information.

Given Xia Yu's style, keeping Xu Bin in the dark was normal. The Xie family was willing to withhold information about price increases because Jiuding Securities offered terms that the Xie family could not refuse.

At this point, there was no need to delve further into these details. The key was the implications of Jiuding Securities' acquisition of Sheliyuan Gold Shop.

This meant that Xia Yu intended to enter the jewelry industry and had made a move to acquire Sheliyuan Gold Shop at rock-bottom prices, completing the accumulation of foundation in one step. Relying on Xia Yu's vast resources, it was predictable that a new giant would emerge in the Hong Kong jewelry industry.

Moreover, the potential threat to the industry leader Chow Tai Fook would be greater than that to the second place Chow Sang Sang.

"Troubling!"

Zheng Yutong sighed, then picked up the phone and dialed Xia Yu's number.

"Hello, Xia Sheng, this is Zheng Yutong. Congratulations! I heard you acquired Sheliyuan Gold Shop… No, no, I was just curious and wanted to ask. I wish you prosperous business…"

After hanging up the phone, Zheng Yutong thought deeply, his eyes gleaming with resolve: "If it's not hidden at all, that's fine. Everything will be decided by strength."

Soon after Zheng Yutong learned the news, it spread across Hong Kong that Jiuding Securities had acquired Sheliyuan Gold Shop and that the gold vouchers from Sheliyuan Gold Shop could be redeemed at Jiuding Bank.

Many big names realized the implications of this news and quickly called Xia Yu to offer congratulations.

The next day, many newspapers reported that the stock market guru had acquired Sheliyuan Gold Shop, and the jewelry industry was about to experience a new storm.

The following day, Eternal Jewelry Company was registered. Capitalizing on the momentum, Xia Yu announced that Sheliyuan Gold Shop would be renamed Eternal Jewelry Company, with all its branches also changing names.

Eternal Jewelry Company would also collaborate with Jiuding Bank, allowing customers to purchase Eternal Gold through Jiuding Bank.

A few days later, Xia Yu hired a talent proficient in the jewelry industry named Zhou Hexuan and appointed him as the General Manager of Eternal Jewelry Company.

Xia Yu discussed many reasonable and effective suggestions with him based on his future knowledge and then sent

 Zhou Hexuan to take over the management of Eternal Jewelry Company.