Chapter 49 The Shipping King's New Strategic Deployment
On Friday evening, inside the brightly lit chairman's office of Global Shipping Group at Prince's Building in Central, the atmosphere was heavy with tension.
Bao Yugang sat by the coffee table, his brows furrowed, lightly holding a teacup in his hand. Despite the curling aroma of tea, he couldn't mask the worries in his heart.
Opposite him, his son-in-law Wu Guangzheng also wore a grave expression, his posture revealing a trace of urgency.
"Father-in-law, the situation is extremely difficult.
Although we have HSBC's strong support and our funding chain is stable—
even capable of raising large sums quickly if necessary—
against the powerful Jardine camp, our competition has escalated into a white-hot phase.
Victory is far from assured.
Although our current funds are adequate, if this drags on, they will soon become insufficient.
I'm afraid it will be hard to guarantee our victory in this fight for control," Wu Guangzheng said worriedly.
"Guangzheng, starting tomorrow, you will assume the role of Chairman of Long Fung International Company," Bao Yugang said after long contemplation, his brows finally relaxing slightly, clearly having devised a new plan.
"Father-in-law, why?" Wu Guangzheng asked, puzzled.
From his perspective, they were in the critical stage of fighting for control of Wharf Holdings.
How could he leave Global Shipping Group now to take over what was, to them, just a shell company like Long Fung International?
Long Fung International was a venerable enterprise with over sixty years of history,
originally focused on securities investment and lending.
After changing hands several times, it ultimately became one of Bao Yugang's important pieces.
It had long served as a crucial tool for financing and supporting the Bao family's shipping empire—
an invisible driving force behind Global Shipping Group's expansion.
One could say that Long Fung International had contributed significantly to the growth of Global Shipping Group.
"Guangzheng, I now have a new strategic plan.
I intend to use Long Fung International to issue new shares and deferred stocks to raise capital.
We will repurchase all our currently held Wharf Holdings shares at a high price through Long Fung.
This way, we can once again raise large amounts of funds—
without immediately borrowing further from HSBC, unless absolutely necessary.
This will ease our personal financial burden and preserve strength to engage Jardine Matheson to the end.
We must be able to attack and retreat as needed," Bao Yugang said solemnly.
Bao Yugang understood clearly that Long Fung's status as a listed company would serve as a strong buffer.
Even if they suffered setbacks in this commercial war,
Long Fung could protect the family's wealth from fatal losses.
Transferring the Wharf Holdings shares to Long Fung was a brilliant move—
preserving their power for a counterattack and ensuring the Bao family's long-term stability.
Thus, selling the shares to Long Fung was indeed both an offensive and defensive strategy.
After years of navigating Hong Kong's business world,
every move Bao Yugang made reflected his profound commercial wisdom and remarkable courage.
He would never let himself or his family be pushed into a hopeless situation—
always seeking the greatest benefits at the smallest cost.
Hearing Bao Yugang's plan, Wu Guangzheng immediately understood.
As his son-in-law, Wu was also a talented businessman,
only lacking in experience compared to Bao Yugang.
"Understood, Father-in-law.
Starting tomorrow, I will officially assume the leadership of Long Fung International and personally oversee the plan to repurchase all our Wharf Holdings shares," Wu Guangzheng responded swiftly.
"Good.
From now on, future Wharf Holdings acquisitions will no longer be conducted directly by the Bao family but through Long Fung International.
Moreover, I will personally coordinate with Mr. Shen Bi and Mr. Li Jiacheng.
Their support will be critical to the success of our plan," Bao Yugang continued.
Mr. Shen Bi—head of HSBC—needed no further explanation.
His support was crucial.
Without HSBC's full endorsement, Long Fung would struggle to gain credibility in the markets.
But if HSBC backed them,
it would dramatically boost Long Fung's strength and appeal, laying a solid foundation for future acquisitions.
As for Li Jiacheng,
Bao Yugang valued his stock market expertise.
Li's team had been a key reason for his rapid rise in recent years.
If they could enlist Li's support,
Long Fung's new shares could be quickly placed through Li's networks.
Bao Yugang and Li Jiacheng had known each other for years—
their relationship was extremely friendly,
and they had long been close business partners.
"Father-in-law, regarding the current predicament, I have a suggestion.
It might be costly, but it could quickly widen the gap between us and Jardine in terms of Wharf Holdings shares—
thereby solidifying our market leadership," Wu Guangzheng suddenly proposed.
"Oh? Guangzheng, tell me your idea," Bao Yugang's eyes lit up, clearly intrigued.
"Over the past week,
I observed that besides our forces and Jardine's,
there are several well-funded market makers quietly entering Wharf Holdings.
They heavily accumulated shares while prices were still between 30 and 40 HKD.
The large volume of shares we absorbed on Thursday was largely thanks to their sell-off.
Given the publicity of our battle with Jardine,
it's natural that such speculation happened.
I estimate that many of these traders still hold significant Wharf Holdings shares,
waiting for opportunities.
If we can secretly persuade them to transfer their holdings to us,
we could widen our lead significantly without alerting Jardine.
That would put us far ahead," Wu Guangzheng explained clearly.
After hearing this, Bao Yugang's face revealed a look of approval.
This was indeed a good plan.
Though costly, stock market battles often demanded massive investments.
And since they had already come this far, there was no turning back.
Otherwise, stopping halfway would only result in even greater losses.
"This plan is feasible.
I will personally reach out to these parties discreetly.
Meanwhile, Guangzheng, quickly assume full management of Long Fung International.
Next week, even harder battles await!" Bao Yugang declared solemnly.
Hong Kong might not be tiny, but it wasn't exactly vast either.
After decades navigating its business waters, Bao Yugang knew every corner of Hong Kong like the back of his hand.
He was well aware of all the famous stock market players.
Some were on good terms with him—
many would surely be willing to do him a favor.
Moreover, the red-jacketed securities traders at the exchange—
with their deep industry connections and extensive networks—
couldn't openly leak client information,
but Bao Yugang could still subtly communicate his intentions to key players through them,
thus executing his next moves behind the scenes.
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