When the tide goes out, do you know who's swimming naked?
Wang Jianlin recently sold 10 Wanda Plazas in a row. In 2023, Wang Jianlin stumbled and survived. It wasn't easy, but he held on. Compared with Xu Jiayin, Wang Jianlin's situation is still better.
Xu Jiayin was even arrested directly. A few years ago, Xu Jiayin was the richest man in China, but now he has become a prisoner. Not only that, but his youngest son was also arrested because of something involving Evergrande's wealth. His wife Ding Yumei chose to divorce him, and now she is always with her eldest son. Xu Jiayin's eldest brother also disappeared 3 years ago. Seven or eight executives of Evergrande were also terminated together.
In fact, the real estate tycoons in trouble in the mainland are not only Xu Jiayin and Wang Jianlin, Sun Hongbin, Yang Huiyan, Zhang Zhang and other bigwigs have encountered financial problems.
Now the bigwigs in the mainland have either fallen or are still surviving. But on the other hand, the Hong Kong bigwigs who were very low-key a few years ago, they are alive and well, and Li Ka-shing and Kwong Xiaoqing have started to **. Li Ka-shing is the richest man in Hong Kong, and Kwong Xiaoqing is the richest woman in Hong Kong.
In the past year, Li Ka-shing's Cheung Kong Group took advantage of the low stock price to buy back 2.2 billion. If the time is extended, the Li Ka-shing family has also been increasing its holdings in Cheung Kong and Changhe in recent years. They increase their holdings hundreds of times a year, and each time they add a very small amount.
Today, they occupy an absolute controlling position in both companies. Kwong is the controlling shareholder of Sun Hung Kai Properties. Sun Hung Kai is now the largest real estate company in China, with a net worth of nearly 700 billion yuan and a debt ratio of only about 3%.
Kwong Xiaoqing has also been in the **Sun Hung Kai** recently. Now whether it is A-shares or Hong Kong stocks, it can be said that they are at the lowest position in history.
Li Ka-shing's Cheung Kong Group's current net worth is about 400 billion yuan, but its market value is only more than 100 billion. The same is true for Sun Hung Kai, with a net worth of nearly 700 billion yuan, but a market value of just over 200 billion. It can be said that these Hong Kong real estate giants are greatly undervalued.
In fact, whether it is Li Ka-shing or Kuang Xiaoqing, they don't want their own ** to rise. Taking Sun Hung Kai as an example, in the past 20 years, the cumulative dividends have reached more than 150 billion. As the largest shareholder, the Kuang Xiaoqing family has received cash dividends of up to 100 billion.
Sun Hung Kai now has an annual profit of about 30 billion yuan, and the dividend rate is about 3%. This is equivalent to saying that the Kuang Xiaoqing family can also get billions of dividends from the company every year. If the company's share price continues to hover at the bottom, they can continue**.
Many real estate giants in Hong Kong stocks have been privatized by their own controlling families. Previously, Liu Luanxiong also wanted to privatize his Chinese Real Estate, a company with a market value of less than 5 billion, but a net worth of more than 30 billion. In addition, Wheelock has already been privatized by Wu Guangzheng.
The same is true of Li Ka-shing's Cheung Kong Group, whose stock price has been depressed for a long time, and Li Ka-shing has been **. He can also get a huge amount of cash dividends from listed companies every year.
Recently, Hong Kong real estate tycoon Ronnie Chan retired, he is the owner of Hang Lung Properties, although the strength of this company is not as strong as Sun Hung Kai and Cheung Kong, but it is also strong, with total assets of more than 200 billion and net assets of more than 100 billion.
These Hong Kong tycoons have one thing in common, that is, they attach great importance to debt and cash. Most of their debt ratios will be kept below 4%, while retaining a large amount of cash flow.
Mainland real estate tycoons have all developed with leverage, and to put it bluntly, they rely on courage to prop up. How many mainland real estate tycoons are constantly borrowing new to repay the old, as long as the capital chain continues, they dare to keep borrowing.
Many of these people also know that sooner or later this capital game will not be able to be played, so they will be ready to retreat. Some people transfer their assets to foreign countries early, and when there is a stir, they will be directly reversed. In recent years, there have been a lot of mainland tycoons like this.
Most of them have set up offshore institutions to transfer assets, and many of them have already arranged for their family members to become foreign nationals.
In fact, many of Hong Kong's wealthy are different, they have already passed the test of history. If they wanted to, they would have gone 30 years ago. When the situation was so turbulent, they didn't leave, which shows their hearts.
If you want to talk about real strength, the difference between the mainland tycoons and the Hong Kong tycoons is really not a little bit.