April 16, Sunday afternoon.
At the Peninsula Hotel, Lin BaoCheng sipped afternoon tea while reading the newspaper.
That day's reports about Hutchison Whampoa and Lin himself were increasingly exaggerated. Only a few papers — Sing Sing Daily, Ming Pao, and several left‑leaning outlets — remained relatively objective.
Most coverage claimed Hutchison's investment faced massive losses, threatening the company's survival. With debts piling up, bankruptcy was said to be inevitable.
As for Lin, many reports declared that since his takeover Hutchison's market value had halved, his fortune had shrunk drastically, and once Hutchison collapsed he would be left penniless, even burdened with debt.
"The more exaggerated the reports now, the harder they'll be slapped in the face later," Lin muttered, shaking his head as he turned the pages. Nearly a third of the newspapers were filled with negative stories about him and Hutchison. He knew in a few days the narrative would flip.
"Chairman Lin, apologies for being late."
A familiar voice sounded. Lin looked up to see Yuan TianFan.
"Sit, let's talk," Lin gestured to the opposite chair, smiling. "You're not late. I just came early."
"I should have come earlier," Yuan replied, sitting down. In fact, he had arrived ten minutes before the agreed time — Lin had simply come even earlier.
"Let's not dwell on that," Lin waved it off, reaching to pour tea. Yuan quickly did it himself, and Lin didn't insist.
Raising his cup, Lin said: "Mr. Yuan, thank you for your judgment last time, and for keeping investment matters confidential."
"Chairman Lin, if you don't mind, just call me TianFan," Yuan replied, raising his cup. "My judgment was minor. The real decisions were yours. As for confidentiality, that was my duty. No thanks needed."
Yuan knew Hutchison's investment had profited greatly. Lin remained a wealthy tycoon, controlling one of Hong Kong's former four great trading houses. Yuan was eager to befriend such a figure.
"I should thank you nonetheless," Lin smiled, sipping tea.
"TianFan, I won't beat around the bush. Besides gratitude, I've noticed your abilities. I have a proposal for you to consider."
"Please, Chairman Lin," Yuan said seriously, setting down his cup. He suspected Lin might be recruiting him. Though his current position at HSBC's securities division was respectable, ambition drove him to listen eagerly.
Lin explained: "Soon Hutchison's board will undergo major changes. The major shareholder will change, and the board will be restructured. I have a different idea for the new board — and an invitation for you."
"The board will remain nine seats. I hold one. Management will take four. Other major shareholders, two. That leaves two seats."
"For those, I plan to invite two talents as honorary directors. Honorary directors won't manage daily affairs or access confidential data, but they can propose ideas to strengthen the company, and oppose harmful proposals."
"In short, honorary directors don't run the company. Their sole duty is to help Hutchison grow. They answer not to me or other shareholders, but to all shareholders and the company itself."
"TianFan, I've seen your ability. I'd like to invite you to be an honorary director. You can continue at HSBC, only attending board meetings and occasionally thinking of ways to help Hutchison develop."
Lin had reasons. The role was important yet not critical. He controlled Hutchison's strategic direction — property, retail, and his interest in pharmaceuticals. But hearing diverse opinions was useful. More importantly, he could observe Yuan's performance, deciding later if he deserved greater responsibility.
"This… this is…" Yuan was surprised, but mostly thrilled. He sipped tea to calm himself.
Though not a core executive role, being honorary director of Hutchison — a major company — carried prestige and offered valuable experience. He had no reason to refuse.
Lin smiled: "No need to decide immediately. The board restructuring isn't imminent. Just give me your answer within a week. That should be enough time, right?"
"Enough. More than enough. I'll give you my reply soon," Yuan said quickly. In truth, he had already accepted in his heart. He only held back to avoid seeming overeager.
"Good. I'll await your good news," Lin said confidently. He knew Yuan wouldn't refuse. Refusal would be Yuan's loss, not his.
They chatted for half an hour before leaving the hotel.
Tomorrow was Monday. For many, it would not be an ordinary day. Fortunes tied to Hutchison's stock would swing wildly — soaring or collapsing. For those with weak hearts, the shock could be unbearable.