Chapter 185: Building Ties with "Shark Guts" Cheng
Clap clap clap clap clap—
The auction room erupted in applause. Everyone was visibly excited.
In every auction, as long as one plot of land breaks a record, it pulls up the value of surrounding land and property—and even rental prices.
That's why many real estate tycoons were willing to take a loss just to inflate land values, creating "land kings." The Hong Kong government, of course, preferred high land prices.
"Congratulations, Mr. Yang," several attendees said, using the moment to establish ties with Yang Wendong.
"Thank you." Yang responded politely.
Knowing more people never hurt—it didn't always help, but it was rarely a disadvantage.
An older gentleman surnamed Zhang chuckled. "Mr. Yang, the final lot today is the 'land king' of this auction. Will you be bidding on it?"
"No," Yang smiled and returned the question, "Mr. Zhang, are you planning to?"
"Haha, you flatter me. I can't afford that kind of property." Mr. Zhang quickly waved off the notion.
"Then let's just enjoy the show," Yang said casually, ending the conversation.
The final lot was a parcel of land over 10,000 square feet in Central, much better positioned than Hong Wah Tower—only about 500 meters from the shoreline.
As a commercial location, it was just a step down from the absolute core of Central.
Starting price: 3 million HKD. It immediately drew interest from several major financial groups.
Yang didn't join in. Not because he couldn't afford it, but because his capital needed to be used more strategically.
In real estate, his short-term focus was on stockpiling land for cinemas—a dual-benefit investment.
He also needed to lay the groundwork in residential housing. Once he had a reputation for quality, then he could scale up.
The real estate golden era wouldn't truly begin until after 1966—his job now was to prepare.
The final bidding war was intense. In the end, the winning bid came from a representative of The Hongkong Land Company, at 4.35 million HKD.
As a subsidiary of Jardine Matheson, they easily outbid all the local Chinese developers. No one wanted to challenge a financial juggernaut like Jardine.
After the auction, Zheng Zhijie went upstairs to handle the paperwork while Yang passed the time chatting casually with some of the new acquaintances he'd met.
At that moment, the star of the auction—Cheng Yutong—walked over.
"Mr. Yang, pleased to meet you," Cheng said, extending a hand. "I'm Cheng Yutong, from Chow Tai Fook Jewellery."
"An honor." Yang returned the handshake with a friendly smile.
Cheng laughed, "Compared to the Post-it King, I'm far behind. I've admired your story since last year—just never had the chance to meet you.
I heard you've entered real estate now. I hope we'll have chances to work together."
"Of course," Yang replied with a smile.
In his past life, Cheng would become head of one of the Four Great Families of Hong Kong. His business acumen and execution were undeniably top-tier.
Yang, as a time traveler, had the edge in knowing future timelines—but when it came to extracting peak value during real estate booms, that wasn't his strong suit.
Managers and experts could help him ensure profitability, but they couldn't compare to peak-level players like Cheng Yutong, Li Ka-shing, or Lee Shau Kee.
If collaboration was possible, it would be a win-win.
Cheng nodded and took out a business card. "I heard you just got married. Congratulations! If you have time, stop by any Chow Tai Fook store. With this card, you'll get our highest level of discount."
"Thanks," Yang said, accepting the card. "I'll drop by in the next few days."
At their level, discounts on jewelry weren't a big deal—it was just a friendly gesture, a way to build rapport.
Cheng smiled, "My phone number's on the card. If you come, I'll host you personally."
"Appreciate it," Yang replied.
This was a clear and sincere invitation. While the true motive wasn't stated, it was likely related to future real estate cooperation—which, from Yang's point of view, could only be a good thing.
"Well then, I'll take my leave," Cheng said with a wave and walked off.
A few minutes later, Zheng returned.
"Mr. Yang, the paperwork is complete. Once Liu Chong Hing Bank releases the funds, the government will transfer the land title to our company."
"Good," Yang nodded. "Push the bank to move quickly. If they stall, I'll go to Hang Seng."
By now, he was already known as the "Post-it King." With his recent entry into real estate and valuable collateral in hand, banks were now the ones who wanted his business.
"Understood," Zheng replied. "I've already spoken with our contacts at Liu Chong Hing. The funds should be ready."
Yang added, "Start the design bidding process right away. Do it concurrently."
In real estate, big companies typically had their own design departments because it was more cost-effective with multiple projects.
Small or newer firms usually outsourced the work, using in-house staff only to coordinate. Changxing was still in that phase.
Later, when they scaled up, they could consider building their own design team.
"Don't worry. I'll put out the notice this afternoon," Zheng said.
…
That evening, back home:
Su Yiyi noticed Yang seemed especially cheerful. "Did the auction go well?" she asked.
"Mhm, we secured the land," Yang Wendong said with a smile.
Others might still be weighing the risks, but he already knew the real estate market would continue climbing steadily over the next few years. Without having to worry about downside risk, who could really compete with him?
Su Yiyi beamed. "That's great news! I'll tell Auntie Wang to make a few more dishes tonight."
"Sure." Yang nodded. Auntie Wang had become their full-time household chef—and a pretty good one at that.
That evening, after dinner, Yang turned to Su Yiyi and said, "In a few days, let's visit Chow Tai Fook in Central and pick out some gold jewelry."
"Gold jewelry?" Su Yiyi blinked. "Didn't we already buy quite a bit before?"
"Just think of it as an investment," Yang said with a chuckle. "They'll be giving me a discount—it's worth it."
"Discounts at Chow Tai Fook? I've never heard of that," Su Yiyi said, surprised.
"Well, not exactly," Yang clarified. "Today, I met Cheng Yutong, the son-in-law of Chow Tai Fook founder Chow Chi-yuen. He personally invited me. I can't just ignore the gesture.
Even though he's a son-in-law, he's incredibly capable. He's next in line to take over the Chow family, and he's already making moves in the property market. There's a good chance we'll be working together down the road."
Just like the future Bao family, Chow Chi-yuen only had one daughter. After she married, he passed the family fortune to his son-in-law.
Luckily, the brand was already established, and the surname "Chow" remained. Unlike the Bao family—by the 2000s, people only remembered the "Wu family" among the top ten, not Bao.
"Okay then. I'll pick out something for my mom too," Su Yiyi said with a smile. "She always says gold is the safest investment."
"She's not wrong," Yang agreed. "For the average person, gold carries very little risk."
Before the collapse of the Bretton Woods system, gold's value was incredibly stable. After 1973, it would only increase—far outpacing the dollar, the pound, or any other mainstream currency.
Diamonds, platinum, rose gold, etc.? Those were just scams for the rich.
September 1st, Yang visited the Queen's Road branch of Chow Tai Fook. Cheng Yutong himself greeted him.
"Mr. Yang," Cheng said with a smile, "our most famous product is 9999 gold—true, pure gold. No one in Hong Kong can match our quality."
"I've heard about your 9999 gold," Yang replied with a grin. "In those days, launching a trusted brand took guts. You really had vision."
Before 1956, Hong Kong's gold industry was rife with scams. Merchants routinely mixed gold with other metals. The better ones had a few percent impurities; the worst were 50% fake.
They often colluded with triads. If anyone dared return an item, they risked being beaten—or worse.
This chaos kept many Hongkongers from buying gold—even those who could afford it were afraid of being conned.
When Cheng took over Chow Tai Fook, he pushed through internal resistance and launched 99.99% pure gold—instantly winning the trust of buyers citywide.
That's how Chow Tai Fook became the No. 1 gold and jewelry brand in Hong Kong.
Cheng smiled proudly. "Letting Hongkongers buy gold with peace of mind is our greatest achievement."
"Well said," Yang nodded. "Solving a public need while building massive wealth—that's the best kind of business."
"Oh please, compared to you, I'm nothing. I've used your Post-its and those rolling suitcases—fantastic inventions," Cheng said. Then he asked, "Mr. Yang, I hear you've been very active in real estate lately. Planning to go big?"
"I'm just testing the waters for now," Yang said modestly. "Do you have something in mind?"
"I heard you picked up a nice residential lot. Would you be interested in co-investing in another one?"
"Another one?" Yang raised an eyebrow. "Why don't you go solo on it?"
Cheng grinned. "The land is massive—it needs significant capital. But my funds are currently tied up in an office project. I'm a bit stretched."
"Mhm." Yang paused. "So why come to me?"
"Most of my contacts are already maxed out on loans—they've gone all-in on real estate.
But from what I've gathered, your factories are incredibly profitable, and your bank loans are minimal. You've still got lots of untapped borrowing power."
"That's true," Yang admitted. While he had borrowed a fair bit, real estate developers could borrow 1 million with just 100,000 in equity. He was still far from that level of leverage.
"But to be frank, Cheng," Yang continued, "I don't have robust oversight mechanisms in place yet. That's why I'm not considering joint ventures for now."
In real estate, co-investing was common. It increased capital, improved borrowing potential, and spread the risk.
But there was always one lead partner—and that party took home the lion's share of profits.
If you were strong enough, it didn't matter if you weren't the lead. But Yang, while wealthy, was still a newbie in the game.
"Hahaha!" Cheng laughed. "Don't worry. I get it. That's why I kept it simple.
The land I'm looking at is in Happy Valley—it's zoned for villas. We can build 160 units.
We'll split it based on capital ratio. If we go 55-45, we each get 80 villas. Sound fair?"
"Happy Valley?" Yang asked. "What's the investment required?"
"Roughly a million," Cheng said. "Not a huge amount. But I need a partner with solid financials to help co-sign the loan with HSBC."
"HSBC?" Yang frowned. "Why them? I thought you had strong ties with Hang Seng."
"I do," Cheng replied. "But this particular project is closely linked to HSBC. The funding must go through them.
And HSBC is quite strict when it comes to risk assessments."
"Alright. Let me think about it," Yang said. There was no way he'd agree on the spot—yes or no, it needed more consideration.
"No problem. I'll have someone deliver the full project details to Changxing Real Estate tomorrow. Once you've reviewed them, I'd appreciate a quick response," Cheng said with a smile.
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