After Wei Li left, Lin Baicheng turned to speak with Cheng Yufeng.
"Yufeng, I plan to appoint you as Vice President of Hutchison Whampoa. What do you think?"
"I'll follow whatever arrangement you make, Mr. Lin."
Cheng Yufeng replied first, then added, "But Mr. Lin, I'm still young, and I've only worked a few years. If I suddenly parachute in as a vice president and replace one of the existing VPs, I worry that the rest of the management won't accept me. That wouldn't be good for the company's unity or development."
Of course, the position of Vice President of Hutchison Whampoa tempted him, but he understood his limits. If the management rejected him, he wasn't confident he could hold the position. And if he performed only "average," Lin Baicheng's impression of him would drop sharply — bad for his future prospects.
"You don't need to worry about that."
Lin Baicheng said, "I'm not asking you to take someone's place. I'm adding an additional VP position. But you won't be handling specific affairs — you can be involved in everything, but you cannot make decisions. I want you to be my eyes, to help me watch over the company."
"I understand. Don't worry, Mr. Lin — I'll do my best."
Cheng Yufeng nodded. He felt a little disappointed, but mostly relieved. If his role was just this, then there was nothing to worry about.
Lin Baicheng looked at him and said, "Yufeng, placing you in the VP position is also meant to train you. You need to learn as much as possible and improve your abilities. Only when you're strong enough can I promote you and let you take charge independently."
By putting Cheng Yufeng in this VP role, Lin Baicheng placed a loyal person within upper management — while also grooming him for future responsibilities.
"Thank you for your trust, Mr. Lin! I won't let you down!"
Lin Baicheng reminded him, "Since you won't be handling specific operations, you won't be as busy as the other VPs. So don't forget Asia Television, Jupiter Toys, and Galaxy Games. You must keep an eye on all of them."
"Yes, Mr. Lin!"
"Once you assume your role, pay attention to talent within the company — especially Chinese talent. There are too many foreigners in upper management and too few Chinese, which makes the company harder for me to control. But don't reject capable foreigners either — recommend anyone with real ability to me, and I'll evaluate them."
To Lin Baicheng, aside from land, Hutchison Whampoa's greatest asset was talent. He could recruit people from within the company to work in his other businesses — leaving vacancies that he could fill with outside hires loyal to him. A perfect two-for-one advantage.
"I'll keep that in mind, Mr. Lin."
Lin nodded. "I plan to establish a film company and also build my own theater chain. Find a headhunting firm and have them search for suitable candidates."
"Mr. Lin, will one person manage both the film company and the cinema chain?"
"Of course not. But the two businesses are closely linked — the cinema chain must prioritize screening our own films. So both companies need one main person in charge overall."
This ensured control and built-in checks and balances. No one should monopolize all decision-making. And if someone resigned, Lin could quickly promote a replacement without disrupting development.
"Understood," Cheng said, taking notes.
"Yufeng, I also want you to investigate all listed companies in Hong Kong that hold large amounts of land but have relatively low market value. Be discreet — avoid drawing attention."
Lin believed that in this era—before Hong Kong real estate truly took off—there must be several such companies besides Hutchison Whampoa and Wharf. He just didn't know who they were, so they needed to be identified.
Once identified, he would naturally find a way to acquire them. Waiting until the real estate boom would make acquisition difficult — and far more expensive.
"I'll arrange it as soon as possible."
"Also, look into companies tied to public livelihood — like Kowloon Motor Bus and Hongkong Electric. Find out who the major shareholders are and which shareholders hold significant stakes."
Acquiring such companies wasn't just about profit; it was about influence and supporting real estate development.
For example—if he developed a residential district, having bus routes pass through the area and ensuring quick access to water and electricity would make the houses far easier to sell.
Cheng wrote everything down.
"And one more thing."
Lin suddenly remembered. "Keep a close watch on Cheung Kong Holdings. If they make any big moves, report to me immediately. Also, since Cheung Kong focuses heavily on real estate, whenever they try to buy land, make sure our real estate subsidiary competes with them. We don't need to win — just make them pay more. Keep weakening them bit by bit."
Now that he was officially rivals with Li Ka-shing, Lin wouldn't sit still. But he couldn't spend all day trying to suppress him; making money came first. So this task went to Cheng Yufeng.
Cheng asked, "Mr. Lin, should we sell the 5% stake we hold in Cheung Kong?"
"No. Keeping those shares helps us understand them better."
Lin shook his head. The shares were only worth a few tens of millions — a small cost for undermining Li Ka-shing, his competitor.
He planned to tell Wei Li about this too, since Wei Li, as president, would find it easier to act.