Chapter 1044: Buy it at a bargain price

Feng Jingxi took a deep breath, locked eyes with Xia Yu, and solemnly expressed his thoughts: 'Mr. Xia, after this blow, I know that banks are different from securities companies. I am not cut out to run a bank, so I hope to sell Sun Hung Kai Bank to you!'

'In addition to your 30% stake in Jiuding Bank, I now also have a 46% stake in Sun Hung Kai Bank, and the remaining 24% is in the hands of four shareholders.'

'I have already discussed this with them. Sun Hung Kai Bank is now priced at 200 million Hong Kong dollars, and I will sell the 24% stake held by the four shareholders on their behalf.'

'As for the 46% stake I hold, I will only retain 5% and retain a seat on the board of directors, and the remaining 41% stake can also be transferred to you in its entirety!'

'So you only need to pay 130 million Hong Kong dollars to obtain 65% of the shares of Sun Hung Kai Bank!'

'Although Sun Hung Kai Bank is currently facing a crisis of bank runs, I believe that as long as Sun Hung Kai Bank is acquired by Jiuding Bank, the crisis of bank runs will automatically be resolved. The price of 130 million Hong Kong dollars is very cheap.'

'This is the real bottom price!'

Without Feng Jingxi saying it, Xia Yu also knew that this price was definitely excellent value for money.

He never expected Feng Jingxi to actually be able to make up his mind to sell him Sun Hung Kai Bank, which he had built with so much effort and care, so cheaply.

You have to know that before Sun Hung Kai Bank was Sun Hung Kai Finance, Feng Jingxi transferred 30% of the equity to him for a price of 200 million Hong Kong dollars in order to obtain a banking license and Xia Yu's help.

After SHK Finance Company was transformed into SHK Bank, its business took off. After obtaining deposits from depositors, its assets also skyrocketed, and it successfully became one of the large banks. Although the bank is not listed, its valuation easily exceeds HK$1 billion.

Although most of the bank's assets are now tied up and have suffered considerable losses, the vast majority of assets are still real. As long as the imminent broken capital chain is restored and the bank's assets are activated, SHK Bank can still be run well.

'Mr Feng, are you sure you won't regret this?'

Hearing Xia Yu's words, Feng Jingxi let out a bitter sigh and said, 'Mr Xia, Sun Hung Kai Bank is like my son. To say that I'm willing to let it go would be a lie, but I already know that I'm not cut out to run a bank. Between going out of business and changing hands, I'd rather it change hands. At least it'll still exist.'

'And throughout Hong Kong, Sun Hung Kai Bank has developed best in your hands. I hope that after I am gone, the Sun Hung Kai Bank brand will continue to exist, even if it is not in the hands of my Feng family!'

Xia Yu was silent. He could tell that these were Feng Jingxi's true words.

However, this was not the reason Feng Jingxi transferred Sun Hung Kai Bank to him at such a low price. There should be other purposes.

Xia Yu asked again, 'Mr Feng, Sun Hung Kai Bank has already been mentioned, but what about Sun Hung Kai Securities?'

Feng Jingxi took a deep breath to calm his fluctuating emotions, and said solemnly to Xia Yu, 'Sun Hung Kai Securities is my lifeline, and I hope it can survive.'

'Although the capital is currently tied up and there have been heavy losses, its fundamentals are still there, and it can be revitalised with sufficient capital.'

'I hope you can inject capital into Sun Hung Kai Securities. In addition, Sun Hung Kai Securities will buy the equity of all the companies it currently holds, and sell them to you if you need them!'

'Other than that, I have no other conditions!'

Xia Yu was somewhat moved inside. Feng Jingxi had really opened up to him now, laying everything bare, as if begging for his charity.

The conditions were simple, the goal was clear: to make Xia Yu the majority shareholder of Sun Hung Kai Securities, and to use Xia Yu's prestige to break Sun Hung Kai Securities out of its predicament.

At the same time, the assets would be sold to Xia Yu at a low price, to free up funds and save his life, even if it meant a serious loss.

Xia Yu looked at Feng Jingxi, who looked worn out, and said with emotion, 'Mr. Feng, you are a brave man, few people can do what you have done!'

Feng Jingxi smiled bitterly.

He looked at Xia Yu and let out his true feelings: 'Mr Xia, there's nothing I can do. I'm getting old, and I don't know how many years I have left. As you know, I have two sons. My eldest son Yongfa is not interested in finance at all, and has gone to Canada to set up a newspaper.'

'Fortunately, my second son Yongxiang is only 20 years old, but he studied finance and investment and is very interested in investing. He also has some talent, so I still have some successors.'

'As a father, I have to leave something for my son.'

'So when I was talking to you just now, I didn't intend to play any tricks, and I directly stated the bottom line and my most genuine needs. I only hope that you can look at it from the perspective of our old friendship, and consider pitying me and lending me a hand, so that I can also preserve the last shred of face in front of my son.'

'I don't want to wait until my son has completed his studies, but then not have a platform for him to grow and display his abilities. As a father, I won't be able to escort him.'

This is the love of a great father for his son!

Xia Yu was moved, and he remembered that Feng Jingxi's second son, Feng Yongfa, had indeed made a name for himself in the capital market in a previous life. He had only lost out to Liu Luanxiong, but Feng Yongfa had gone on to become a financial tycoon in Hong Kong.

Since Feng Jingxi's request was so modest, and he would not have to put in much effort, he could reap huge benefits.

He could find no reason not to help.

Therefore, in the face of Feng Jingxi's expectant and apprehensive gaze, Xia Yu nodded and said, 'Mr Feng, I will help you with this favour.'

Feng Jingxi's eyes revealed a look of surprise. He suddenly got up and bowed to Xia Yu, saying gratefully, 'Mr Xia, thank you!

'Hey, Mr Feng, you don't have to do that. We are just each getting what we need. I am also getting a big advantage. You going to such trouble is embarrassing me,'

Xia Yu quickly held Feng Jingxi back and persuaded him.

Feng Jingxi shook his head and said, 'No, Mr Xia, you are actually helping me. I know very well that if it were anyone else, they would probably take advantage of the situation again and eat me up for even less.'

Xia Yu also knew that this was indeed a possibility.

However, there was no point in dwelling on this, so he said to Feng Jingxi, 'Mr Feng, let's get back to the topic we were discussing earlier. When do you need me to step in?'

Feng Jingxi immediately said, 'Of course the sooner the better. If it's convenient now, I'll go back and get the shares.'

Xia Yu smiled faintly and said, 'Every minute that's delayed means more money that the depositors will take out. This matter can't be delayed any longer. Then let's do it now. You go back and get ready, and I'll have someone get ready here too, and we'll try to calm the panic at Sun Hung Kai Bank by morning.'

'Okay!'

'Mr. Xia, then I'll go back right now and bring someone over later.'

After saying this, Feng Jingxi left in a hurry.

Xia Yu immediately called Liu Tianci and Wang Qi, asking them to come over.

About half an hour later, Feng Jingxi came over with everything, including the current asset and liability statement of Sun Hung Kai Securities. Obviously, considering that the matter of injecting capital into Sun Hung Kai Securities had not yet been discussed in detail, the statement was brought over to facilitate the determination of value.

Needless to say, the transaction for Sun Hung Kai Bank was signed directly.

Jiuding Bank contributed HK$130 million and obtained a 65% stake.

Together with the 30% stake it already held, it held a total of 95% of the shares in Sun Hung Kai Bank, with the remaining 5% remaining in the hands of Feng Jingxi.

Then there was Sun Hung Kai Securities.

Xia Yu did not go too far and offered a generous price.

Jiuding Securities injected HK$120 million into Sun Hung Kai Securities, increasing its stake from 10% to 30%, making it the second largest shareholder after Feng Jingxi.

As for the asset acquisition, Xia Yu left a detailed asset breakdown, intending to sort it out before arranging for Jiuding Securities to acquire it, and Feng Jingxi had no objection.

After all the contracts were signed, Feng Jingxi completely joined Xia Yu's Jiuding consortium.

Then Xia Yu called Yan Wenhan and asked him to send someone to the event.

As Jiuding Bank, Jiuding Securities, Sun Hung Kai Bank and Sun Hung Kai Securities would jointly hold a press conference, with Liu Tianci, Wang Qi and Feng Jingxi as the main characters, Xia Yu did not intend to show up.

At the press conference, Liu Tianci first announced in a high-profile manner that Sun Hung Kai Bank had become a subsidiary of Jiuding Bank, and that the risk of depositors' funds was guaranteed by Jiuding Bank.

Then Wang Qi announced the capital injection by Jiuding Securities into Sun Hung Kai Securities, and declared that Sun Hung Kai Securities was a securities company with great potential that the stock market crash could not destroy. He was confident that together with Feng Jingxi, he would make Sun Hung Kai Securities even better.

After the entire press conference, all the reporters who had arrived felt as if they had taken stimulants.

Immediately afterwards, the content of the press conference quickly spread throughout Xiangjiang, causing the entire city to shake.

Many people were shocked by the change of ownership of Sun Hung Kai Bank, but they also envied it, at least Sun Hung Kai Bank no longer had to worry about going bankrupt.

This was indeed the case.

When they learned that Sun Hung Kai Bank had become a subsidiary of Jiuding Bank, the vast majority of the bank's depositors let out a sigh of relief and gave up withdrawing their money, and the crisis of a run on Sun Hung Kai Bank was directly resolved.

Investors who had gone to Sun Hung Kai Securities to demand the return of their investments and caused a commotion in front of the company's door also left one after another.

The stock god's Jiuding Securities Company has become the majority shareholder of Sun Hung Kai Securities. In order to protect his own interests, the stock god will not let Sun Hung Kai Securities keep losing money. Even if it loses money now, it can definitely turn things around.

Except for the investors who were disappointed in Hong Kong and wanted to emigrate with their capital and insisted on getting their investment back, the vast majority of investors went home with peace of mind.

The crisis of Sun Hung Kai Securities has also eased by a large extent.

Feng Jingxi finally revealed a relieved smile, happy with his wise move...