Chapter 461 Jealousy from Chen Songqing
"The closure of three mainstream newspapers has undoubtedly brought a huge opportunity for Oriental Daily.
Although Oriental Daily has long held the top spot in Hong Kong's sales rankings, we were occasionally challenged by other leading newspapers, like Sing Tao Daily, whose news team was very capable. When they had major exclusive stories, their sales sometimes even surpassed ours.
Now, with three major players gone, a huge vacuum has been left in the market.
For Oriental Daily and other major newspapers, this is very good news.
Especially for us—being Hong Kong's number one newspaper, I'm confident we'll capture the largest share of the gap left behind," Cui Zilong continued, his voice filled with excitement.
This was precisely why he had sounded so emotional over the phone.
Oriental Daily had developed steadily over the years to become the top-selling newspaper.
However, because of that, they had hit a bottleneck.
Unless they got major shocking exclusives, daily sales were hard to significantly increase.
But now, with the elimination of Sing Tao Daily, Overseas Chinese Daily, and Hong Kong Industrial & Commercial Daily, there was hope for breaking that ceiling.
This bottleneck wasn't about the number one ranking—it was about the daily sales volume.
Normally, even with good stories, sales hovered around a hundred thousand copies a day, sometimes falling below that.
Only occasionally did they jump to 300,000 or 400,000 during major news events.
Now, without those competitors, Oriental Daily had a real shot at consistently exceeding 200,000 copies daily, and during special periods, maybe even hitting 500,000.
This would be a major leap forward.
"By the way, any updates about Jardines Matheson?" Lin Haoran asked next.
"Boss, according to the information I gathered, Governor MacLehose still has some scruples about the powers behind Jardines Matheson, so no further actions have been taken against them for now.
However, it's said the government has already frozen all of Jardines Matheson's property transactions in Hong Kong to prevent asset transfers before formal sanctions are decided," Cui Zilong replied quickly.
"Good. Also, with Sing Tao Daily, Overseas Chinese Daily, and Hong Kong Industrial & Commercial Daily forcibly shut down, their elite staff now face choices.
Their experienced editors, journalists, and marketing personnel are invaluable to the news industry.
We at Oriental Daily must move fast to recruit them.
They bring not only experience but new perspectives and creativity, which can revitalize our reporting," Lin Haoran added, having thought of this just as he was about to hang up.
"Don't worry, Boss!
The moment we received the Governor's announcement, I mobilized the entire HR department.
We already had a talent shortage because of our plans to expand overseas, and now is the perfect time!" Cui Zilong laughed.
"Good. I'll leave it to you. If there's nothing else, I'll hang up now," Lin Haoran said.
"Alright, Boss. I'll get back to work!"
After hanging up, Lin Haoran lost the mood to stay in the study.
The Governor's swift and ruthless action had truly exceeded his expectations.
He hadn't thought MacLehose, known for his mild political style and widely respected as one of Hong Kong's best governors, would act so decisively—directly shutting down three major media outlets without even waiting for a trial.
Shocking not just Lin Haoran, but the entire city.
Changing into a suit and freshening up, Lin Haoran headed out.
"To Connaught Centre," he instructed once inside his Rolls-Royce.
"Yes, Boss!"
Li Weidong started the car, with three escort vehicles following behind.
Fifteen minutes later, Lin Haoran arrived at Connaught Centre.
He took the elevator to the 51st floor.
In the General Manager's office, Ma Shimin was on the phone.
Seeing Lin Haoran, he gestured to indicate he would finish soon.
A few minutes later, Ma Shimin ended the call and stood up to greet him.
"Boss, I was just talking to a project manager from Quarry Bay.
He told me that today's property sales were incredibly strong.
Buildings that had been only half-sold last month are now completely sold out—including less desirable units.
This morning alone, sales surpassed 100 million HKD.
He's asking whether we should pre-sell new buildings that are only on paper, with no foundation even dug yet!"
"In that case, release them for sale.
Before a real estate crisis fully hits, even if prices rise slightly, it won't last long.
The current customer surge is just a short-lived rebound from the previous panic.
We should sell as much as possible while the market's hot to maximize cash flow," Lin Haoran said after brief thought.
Jardines Matheson, as Hong Kong's top developer, had extensive holdings—not just commercial skyscrapers but also residential projects.
Although residential property made up a smaller portion of their portfolio, it was still crucial.
Last month, they had cleared a large number of projects, most joint ventures with other companies.
Thus, their current residential inventory wasn't too heavy.
The Quarry Bay development was wholly owned and already half-built, with many units already sold.
"Besides Quarry Bay, our projects in Sheung Wan, Causeway Bay, North Point, To Kwa Wan, and Ma Tau Wai are also selling extremely well today.
I estimate that by the end of today, we might rake in 500 million HKD, maybe even 700 or 800 million!" Ma Shimin said, full of awe.
In the past, a good day's sales meant recovering maybe 100 million HKD.
Today's performance was truly astonishing.
As for their commercial properties—Jardines Matheson always kept prime locations for rental income, not for sale.
That was part of their long-term strategy.
Clearly, Jardines Matheson wasn't the only beneficiary.
Companies like Cheung Kong, Sun Hung Kai, Ka Nin Group, New World Development, Hopewell Holdings, and Hang Lung Properties were also enjoying the sudden real estate boom.
While Lin Haoran and Ma Shimin discussed the sudden surge in property sales, elsewhere in Hong Kong, real estate tycoons were glued to the sales reports from their various developments.
Chen Songqing, Li Jiacheng, Kwok Tak-seng, and Cheng Yu-tung were all overjoyed at the incredible sales figures.
Especially Chen Songqing—he finally felt the heavy burden lift from his heart.
A few days ago, he had been so worried that he had personally called Lin Haoran, pleading for him to intervene and save the market.
But today, seeing his developments sell out in the morning alone, the old confident and spirited Chen Songqing returned.
Standing at the top floor of the Ka Nin Tower, looking down at the bustling streets of Central, he exuded the aura of a man once again in command of his destiny.
Yet amid his pride, he couldn't help but regret one thing deeply.
He regretted giving up on the government land auction.
He should have foreseen that the Governor's Office would never allow a full-blown property market collapse.
In hindsight, he realized he had been too cautious, lacking the daring needed.
If he had seized the opportunity, Ka Nin Group could have acquired two or three premium plots with limitless potential.
Thinking of how Lin Haoran secured five top plots worth 5 to 6 billion HKD for only 3 billion, Chen Songqing's heart filled with jealousy and bitterness.
Why hadn't such a golden opportunity fallen into his hands?
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