The east of the Yangtze River is rolling, the spray is full of heroes, and another great hero in the "four families of Hong Kong" retires.

On September 10th, Sun Hung Kai Properties announced that Dr. Lee Shao-kee, because of his old age, would not seek re-election at the company's annual general meeting in November 2010. he will retire as a non-executive director of the company and cease to serve as vice chairman of the board of directors at the annual general meeting. According to the announcement, Lee Shau-kee has been the vice chairman of the board of directors since the company went public in 1972 and has served for more than 48 years.

From "real estate tycoon" to "Asian stock god, Lee Shau Ki-the only one who scares Li Ka-shing."

The "Hong Kong four families" are the four big families with great influence in Hong Kong, China, including Guo Desheng, Li Shaoji, Li Ka-shing and Zheng Yutong, who are mainly made rich by real estate families. Li Ka-shing's Cheung Kong Group, Lee Shau-kee's Henderson Group and Zheng Yutong's New World Real Estate can be said to control more than half of the real estate economy in Hong Kong, and their achievements in the business community can be worth thousands of elites.

The most famous of the four families is Li Ka-shing, who reigned as Asia's richest man for more than 20 years until he changed hands in 2014. Compared with Li Ka-shing, Hong Kong's second-richest man, Lee Shau-kee, known as the "god of Asian stocks", seems to keep a much lower profile. Therefore, in terms of fame, Li Shaoji is not as big as Li Ka-shing.

This year, Lee Shau-kee topped the 2020 Forbes magazine list of the richest people in Hong Kong, with a net worth of US $30.4 billion.

According to public information, Lee Shau-kee was the founder and chairman of Henderson Real Estate Co., Ltd., and a member of the board of directors of Sun Hung Kai Properties. Henderson Land Development Co., Ltd. is one of the largest property development companies in Hong Kong, with properties related to business buildings, residential buildings and hotel groups.

In addition to the real estate industry, the Lee Zhaoji family also operates the energy industry. Lee Shau-kee is the chairman of Hong Kong And China Gas Limited, the sole supplier of natural gas for household and heating in Hong Kong. The eldest son Li Jiajie and the second son Li Jiacheng are vice chairmen of Henderson and directors of the China Gas Company Limited.

Let's take a look at Lee Shau Kee's legendary career.

In 1963, Lee Shau-kee, Feng Jingxi and Guo Desheng founded Sun Hung Kai Enterprise Co., Ltd., known as the "three Musketeers". At that time, most of the houses in Hong Kong were sold as a whole, and many middle-class people could not afford it at all. Lee Shau-kee also knew the reason, so he sold the building in layers and could pay by installments, which made the business more and more popular, and the company became bigger and bigger as soon as it sold short.

In 1972, Sun Hung Kai Properties's stock was officially listed. Only ten years later, Li Shaoji put the company on the road of listing. After that, the "three Musketeers" were disbanded.

In 1967, riots broke out in Hong Kong, causing many rich people to move out of Hong Kong. After Hong Kong's real estate industry has been pessimistic several times, Mr Lee sees business opportunities. He attacked aggressively, bought a lot of cheap land at a low price, set up Henderson Co., Ltd., and acquired more than 50% of the listed company Yongtai, and began to accelerate the pace of development.

In 1981, Yongtai backdoor completed the listing, which began the era of Hong Kong real estate oligarchy established by the four Hong Kong families. After several ups and downs in the Hong Kong property market, it finally returned to its peak, while Lee Shau-kee ushered in a "bumper harvest".

In 1997, Lee Shau-kee successfully ranked fourth on the Forbes list of the world's top 10 richest people with a fortune of 127 billion, and became the richest man in China.

After entering the 21st century, Mr Lee gradually faded out of Hong Kong's real estate industry and turned his energies to the capital markets. Soon, Lee Shau-kee changed from a "real estate tycoon" to a "god of Asian stocks", causing another storm in the financial markets.

Lee Shau-kee has a theory of changing one yuan into eight yuan: "I have an ideal called piercing the cloud arrow and passing the three hurdles." The first level is the second level, the second level is the second level, and the third level is the fourth level. "as early as the early 1990s, Lee Shau-kee bought Japanese bonds and succeeded in doubling his funds and passing the border with one bet and two. Later, he reinvested two pieces of the money he earned into state-owned enterprises listed in Hong Kong. After entering the 21st century, state-owned enterprises began to go public one after another, their share prices also soared, and Lee Shaoji made a lot of money again.

In June 2007, Lee Shau-kee called on investors to be "careful" when the Hang Seng Index reached 22000 and reduce their holdings. Investors were puzzled because the Hong Kong stock market was very hot and soaring at this time. Sure enough, in August 2007, when the subprime mortgage crisis broke out in the United States, the Hong Kong stock market fell, falling below 20000 points. At this time, Lee Shao-Ki spoke out again: when the opportunity comes, hurry to enter the market and break through 25000 by the end of the year. As a result, Hong Kong stocks regained their lost ground just a month later.

In October 2007, Lee advised investors to sell US and Japanese stocks, raise Chinese stocks, and predicted that the Hang Seng Index would break through 30000 points in 2008. In early November, this forecast reached its target ahead of schedule. On November 18, Lee Shau-kee spoke to the media again: the mainland may introduce macroeconomic control measures in the next few days, and Hong Kong stocks will be very volatile and fall sharply in the next few days. Investors should be careful. Sure enough, the Hang Seng Index fell 1136 points on November 19th.

As a result, Lee Shau-kee gained a reputation as the "god of Asian stocks" and "Hong Kong Buffett".

Not willing to be "always in second place"? Li Shaoji named his son "Li Jiacheng".

Li Ka-shing and Li Shaoji were both born in 1928 and both were born in Guangdong. Previously, Li Ka-shing's wealth has always been the largest in Hong Kong, while Li Shaoji's wealth is only slightly less than Li Ka-shing's, known as "always in second place".

I do not know whether it is a coincidence or intentional, Li Shaoji named his son "Li Jiacheng". Because Lee Shau-kee has always been regarded by the outside world as a Hong Kong real estate tycoon other than Li Ka-shing, but he cannot surpass Li Ka-shing in fame and industry status, so at that time, Lee Shau-kee was unable to surpass Li Ka-shing, so he named his son Li Jiacheng. Of course, this is just speculation.

Whether intentionally or coincidentally, Lee Shau-kee and Li Ka-shing are in their twilight years, and it is up to the next generation to win or lose.

Earlier, Henderson Land Development announced that Dr. Li Shaoji, chairman of the board of directors and general manager of the company, is officially considering retiring because of his old age, and his two sons, Li Jiajie and Li Jiacheng, serve as co-chairmen and general managers of the company.

With the retirement of Lee Shau Kei, the four major families in Hong Kong have all handed over the baton, and a new era of real estate in Hong Kong, which belongs to young people, has also opened a new chapter.

Sun Hung Kai Properties's full-year net profit fell by 48%

Sun Hung Kai Properties announced its results for 2019-20 on September 10. For the year ended June 30, 2020, the company's revenue was HK $82.653 billion, down 3.1% from the same period last year. The profit attributable to shareholders was HK $23.521 billion, down 47.6% from the same period last year.

Due to the low market rental value on 30 June 2020, compared with the net revaluation gain of HK $12.86 billion last year, investment properties (including investment properties held by joint ventures and associated companies) recorded a net loss of fair value of HK $5.51 billion (net of deferred tax and non-controlling interests) and were recognised in the consolidated income statement for the current year.

Excluding the revaluation gain or loss on investment property, the base profit attributable to the shareholders of the company for the year was HK $29.368 billion, a decrease of 9.4% compared with the same period last year. The company said the group's hotel business was hardest hit by the 2019 coronavirus disease (Covid-19) outbreak and had taken positive measures to save costs and improve operational efficiency.

Sun Hung Kai Properties Development Co., Ltd. (Sun Hung Kai Properties), listed in 1972, is one of the largest real estate development companies in Hong Kong, dedicated to building quality housing, an extensive network of shopping malls and office buildings, and hotel projects.

Since the beginning of this year, Sun Hung Kai Properties's share price has fallen 15%, with the latest market capitalization of HK $289.5 billion.