The achievements should be right and proper, and they should be right for the society and the shareholders. Li Jiacheng specially instructed Li zeju to take over at the meeting of retired shareholders.
From a young boy who listened to his fathers advice to a mature middle-aged man who inherited his fathers career, Li zeju has been living under the shadow of his father. In the Li family, an independent Li zeju is almost meaningless.
Now, Li zeju has taken over his fathers business Kingdom and is injecting his own style into it. It remains to be seen whether an independent and self luminous Li zeju will be born in the future.
Li Jiachengs son of 90
Li zejus business life began very early.
Back in 1972, Li Ka Shing arranged for eight or nine year old Li zeju and Li Zekai to attend board meetings in a corner of the companys meeting room. Li Jiacheng let his two sons watch how he talked with other businessmen, and imperceptibly made his sons interested in business.
Unlike his younger brothers freedom, Li zeju is an obedient child. Since childhood, he has been obedient to his fathers arrangement and devoted himself to learning family business. He has bound his life closely with his family.
After finishing primary and secondary school in Hong Kong, Li zeju went to the United States to study for university foundation, followed by his fathers arrangement to enter Stanford University to study civil engineering, and then to pursue a masters degree in structural engineering.
After graduation, 21-year-old Li zeju officially joined the Yangtze River group. He began to work at the grassroots level, learning the way of management with his father and uncle. Young Li zeju honed himself in the expectation of his parents and grew up very fast. By the time he was established, Li zeju had become vice chairman of Changshi.
Since then, Li zeju began the road of overseas acquisition. Li zeju almost bought the UK in just a few years, from founding the website Tom to acquiring 31% equity of Air Canada and then acquiring British power grid.
Li zeju, who has always been low-key and steady, seldom appears in the public view. He devotes himself to the family business and is a good helper of his father. In the long and steady decades, Li zeju has accumulated rich business experience, and his steady style has also made his father see the shadow of his successor.
On March 16, 2018, Li Ka Shing retired behind the scenes, and Li zeju finally managed the whole group like a real master.
Li zeju has been under his fathers command for six years, from his first talk about splitting up his family to taking over his official post. After receiving the baton, Li zeju must jump out of the shadow of his father and try his best to fill the gap between 90 and 100 points.
Today, Victor (Li zeju) is more courageous than me, and I am full of confidence in victor.. Having worked with his father for more than 33 years, Li zeju finally took charge of his own affairs and made a brilliant appearance.
In the year when he was really at the helm of Changjiang industry, Li zejus shackles were loosened a lot, and he began to inject his own style into Changshi, but he also showed obvious split.
When talking about the property market in Hong Kong, Li zejus remarks are as conservative as ever, saying that no one has 100% crystal ball forecast. The group will continue to do a good job in the old real estate industry and will continue to develop in Hong Kong.
Li Jiacheng once said: Changhes tradition is to seek development in stability and stability in development. I hope that no change is the best development for the company, whether internal or external.
However, in the past year, Li zeju changed his fathers conservative investment style and showed obvious offensive behavior. He successively invested in six projects in Hong Kong and began to expand.
At the end of June 2018, Li zeju invested HK $14 billion to rebuild haiyunxuan and haiwanxuan as commercial buildings located in the twin hotels in Hung Hom. In July, Li zeju demolished and rebuilt Hutchison Huangpu building, which his father had just sold last year. The market value of the rebuilt Heji building will reach 33.5 billion yuan.
In August of the same year, Changshi real estate won the third phase project of huangzhukeng station in Hong Kong and reappeared in the land market. This is the second time that Changshi acquired land in Hong Kong after 2016, and it is also the largest land purchase project since Li zeju took office. In October, Changshi applied for additional construction of Gudong north project, increasing from 1800 to 2200.
By January 2019, the redevelopment of two hotel buildings in Tin Shui Wai, Hong Kong, has been put on the agenda, with an estimated investment of HK $12 billion. In addition, the new territories wetland project fengle Wai, which has been under dispute for more than 30 years, has also been approved.
Although Li zejus style is quite different from his fathers, he is still limited by his fathers planning, and he continues his fathers pace of selling with his left hand and buying with his right hand.
By the end of 2018, Changhe had sold nearly HK $300 billion in mainland and Hong Kong assets, and Hong Kongs total assets were only 70.03 billion yuan, accounting for 5.7%. The group has invested HK $600 billion in Europe, accounting for nearly 55% of Europes total production. The UK alone accounted for HK $400 billion.
From a series of expansion and investment, Lis investment style has been very stable. But Li zejus road after taking over was not plain sailing, and soon he encountered the failure of his first acquisition.
In November 2018, Li zeju spent $70 billion to acquire Australias largest natural gas company, but was finally stopped by the local government. After that, it spent 20 billion to acquire Canadian energy company, but for various reasons, it was suspended.
Meanwhile, in the past year or so, the share price of Changhe has fallen by a quarter and its market value has evaporated by more than HK $100 billion. But Li zeju said nothing has changed..
In fact, Li zejus father still holds the general direction behind him. It may take time for him to be completely autonomous.
After his retirement, Li Jiacheng is still a senior consultant of Changjiang Hutchison Industrial Co., Ltd. and Changjiang Industrial Group Co., Ltd., and the general direction of Li zejus major moves is still in the hands of his father, and the overall investment strategy of the group will not change greatly. Before letting go, Li Ka Shing had already made a long-term plan for the groups existing scale, structure and policy for five or even 10 years. Li zeju had little room for free play.
Although Li zeju, as a conservative, has been entering the European market, he is also confined to the real estate field. It is not easy to follow his interest. Whats more, Li zeju, who lived overseas since childhood, still has some problems with Chinese social relations. If he wants to have his fathers vision, he still needs to grow up.
Li Ka Shing once said, luminescence is not the patent of the sun, you can also shine.. With many restrictions and tests, Li zeju must become a glowing sun and continue his fathers business myth for decades.
However, todays Li zeju is still like a kite, which is pulled by invisible lines. It will take time for an independent Li zeju to be born.
Source: interface news Author: Tao Ting, editor in charge: Wang Xiaowu_ NF