Chapter 123 - Graduation and Full Authority
Following Lin Haoran's announcement of the privatization of Qingzhou Cement Company, the news stayed hot for several days before gradually fading from public attention.
By January, very few people were still paying attention to the Qingzhou Cement situation.
Naturally, the media also reduced their coverage of Qingzhou Cement until it eventually disappeared altogether.
This was normal —
even the ongoing Wharf Holdings battle didn't capture daily attention, only drawing widespread discussion during critical moments.
After handing the privatization task to Wardley Company, the process progressed extremely smoothly.
In just one week, thousands of shareholders had visited Wardley Company to sell their shares.
Together, these shareholders handed over more than 8 million shares of Qingzhou Cement stock.
However, as time went on, the volume of shares acquired by Wardley Company steadily declined.
This was inevitable —
not everyone was willing to sell at 4 Hong Kong dollars per share.
Additionally, privatization was inherently a long process —
it was difficult to complete in a short time.
Moreover, achieving 100% acquisition was almost impossible in reality,
because some shareholders would always refuse to sell for various reasons,
or because of lost stock certificates and similar special circumstances.
Nevertheless, this didn't mean privatization couldn't succeed.
According to Hong Kong's Takeovers Code, the offeror — usually the major shareholder or management seeking privatization — needed to obtain acceptances from holders of at least 90% of the shares not already held by them.
Once this threshold was crossed, the offeror could exercise the "squeeze-out" right — forcibly acquiring the shares of dissenting minority shareholders to achieve full privatization.
Those who still refused to sell would only be able to do so later through the post-privatization procedures.
As for Lin Haoran, he had already secured enough shares to almost exercise the squeeze-out right.
But he was in no hurry to proceed, for two reasons:
first, some shares were still held by Wan'an Group, and he planned to reclaim them later without immediately using more loans —
after all, Wan'an Group was his, and its shares wouldn't run away;
second, operationally, Qingzhou Cement Company was already functioning like a fully privatized firm —
the board had been dissolved, and Lin Haoran had absolute control, practically no different from being a sole proprietor.
Moreover, with the company delisted, there was no longer any need to publish financial statements or other public disclosures.
Given all that, he left Wardley Company to handle the follow-up work.
During this period, Lin Haoran led a busy and fulfilling life.
He not only followed his father Lin Wanan at Wan'an Group, learning the core skills of corporate management,
but also frequently visited Qingzhou Cement Company to supervise operations personally, approve major decisions, and ensure steady progress.
He also closely monitored the privatization progress through Wardley Company.
Additionally, he made time to visit Aimeigao Company in Kwun Tong to keep track of its operations and offer support to the team.
During weekend leisure time, if Guan Jia Hui's father Guan Shan happened to be traveling, leaving Guan Jia Hui alone in Hong Kong,
Lin Haoran would seize the chance to spend quality time with her.
Worth mentioning was that Lin Wanan had now entered semi-retirement, gradually handing over full management of Wan'an Group to Lin Haoran.
Now, Lin Wanan spent only half-days at the company or sometimes worked remotely from home, accelerating Lin Haoran's adaptation to full leadership.
After months of careful training, Lin Wanan knew Lin Haoran had proven capable of handling everything independently,
and he could confidently entrust the future of Wan'an Group to him.
Meanwhile, Lin Haoran stayed keenly attuned to international market trends.
Especially oil prices —
every day he closely read newspaper updates on crude oil.
19.86 dollars per barrel, 19.91 dollars, 19.97 dollars, 19.94 dollars, 19.99 dollars, 20.03 dollars...
Oil prices kept climbing, with occasional fluctuations, but the overall trend remained upward.
By January, the fall of the Pahlavi Dynasty in Iran was a foregone conclusion.
Shah Mohammad Reza Pahlavi's grip on Iran had virtually collapsed.
On January 16, 1979, a sensational event shook the world:
the Shah and his queen fled Iran, triggering nationwide celebrations.
Symbols of the Pahlavi monarchy were destroyed within hours, completely reshaping Iran's political landscape.
Initially, people hoped that once a new government was installed, Iran would quickly resume oil exports.
However, the new government faced enormous challenges, needing time to consolidate power and manage the vast nation.
Thus, despite the change of government, Iran's oil exports remained at a standstill,
further intensifying global oil market anxiety.
As a result, oil prices kept rising,
from 20.78 dollars per barrel at the start of January to 21.31 dollars at the end — and higher still.
Those hoping for a price drop were destined for disappointment.
Thanks to memories from his previous life, Lin Haoran knew very well:
even if Iran resumed oil exports by March, oil prices would be unlikely to return to previous levels.
Oil giants, having tasted the profits of high prices, would not willingly give them up —
they would likely even collude to push prices even higher.
Thus, Lin Haoran judged that oil prices would continue to surge — and possibly accelerate.
For him, this was great news.
The more expensive oil became, the more profit he would reap from his substantial holdings.
In the short term, the oil crisis's impact on Hong Kong's economy was relatively mild.
After observing for more than a month, Hong Kong's investors realized that this oil crisis differed from the one in 1973.
The stock market's impact seemed limited.
Many stocks, after a brief period of lower trading volume and falling prices, began rebounding strongly,
revitalizing Hong Kong's stock exchange with renewed vigor.
As the festive atmosphere of the Lunar New Year faded, February quietly arrived.
On February 15, Wan'an Group formally announced a major internal restructuring.
Effective immediately, Mr. Lin Wanan would step down as Chairman of the Board,
and his son, Lin Haoran, would take over the role,
with Mr. Lin Wanan retaining the honorary title of Honorary Chairman.
This change officially marked the handover of Wan'an Group —
the business Lin Wanan had spent his life building — to Lin Haoran.
At that moment, Lin Haoran truly became the boss of two major enterprises,
shouldering immense responsibility.
After the successful conclusion of the board meeting, Lin Wanan was full of emotion.
From then on, he could finally enjoy retirement life,
confidently entrusting Wan'an Group's future to his capable son.
For Lin Wanan, this was a profound recognition of Lin Haoran's abilities.
"Haoran, from today onward, Wan'an Group is in your hands.
This company is my life's work —
I hope you can lead it to even greater heights,"
Lin Wanan said with a mix of nostalgia and hope as they returned to the Chairman's Office.
"Don't worry, Dad.
I will do my utmost to make Wan'an Group even stronger, living up to your expectations!" Lin Haoran answered firmly.
To him, managing Wan'an Group was not difficult.
Although the Group wasn't among Hong Kong's absolute real estate giants,
its solid foundation was unmatched.
Without debt burdens, it was unique even among Hong Kong's leading real estate firms.
"Everything you've done these past months — I've seen it all.
That's why I can hand over the Group to you without worry," Lin Wanan said, gazing around the office full of memories.
"After a lifetime of hard work, suddenly stepping down feels strange."
"Dad, if you ever feel bored at home, you're always welcome back.
A son continuing his father's work is natural.
And whenever I face difficulties, I'll seek your guidance.
Your business wisdom will always be my example," Lin Haoran said with a smile, comforting him.
"True.
I'm old, but not yet decrepit.
Whenever I miss the office, I'll come by.
People get nostalgic as they age," Lin Wanan chuckled.
Over the past few months, under Lin Wanan's mentorship, Lin Haoran not only deeply learned business management principles,
but also built strong relationships with Wan'an Group's mid- and senior-level managers, gaining a comprehensive understanding of their abilities.
Now, with full authority in hand, and officially recognized as Chairman,
Lin Haoran suddenly discovered a new ability:
he could now see the loyalty ratings of Wan'an Group employees.
He found that the Group's senior management, most of whom had fought alongside Lin Wanan for many years,
showed astonishingly high loyalty levels.
For example, Wan'an Group's General Manager, Yang Mingyi, had an incredible loyalty rating of 91.
Such loyalty was extremely rare.
Lin Haoran had previously reviewed Yang Mingyi's background.
Yang Mingyi, 49 years old, held a Master's degree from Harvard Business School.
He had joined Wan'an Group 18 years earlier as an accounting supervisor,
eventually being promoted to General Manager five years ago by Lin Wanan.
Although Lin Haoran didn't know all the details behind Yang Mingyi's deep loyalty,
he understood that it must be rooted in years of shared struggles and profound trust.
Whether it was gratitude for Lin Wanan's mentorship or the strong rapport built over time,
it was clear that Yang Mingyi was completely loyal to Wan'an Group.
Lin Haoran didn't need to investigate further.
All he needed to know was that Yang Mingyi was trustworthy.
After Lin Wanan left, Lin Haoran summoned Yang Mingyi to his office.
"Boss, did you need to see me?" Yang Mingyi asked respectfully after entering.
By now, every senior manager at Wan'an Group admired Lin Haoran.
Not only had he acquired British-owned Qingzhou Cement Company,
but he had also fully privatized it.
Not just Wan'an Group's staff — even across Hong Kong, many people admired Lin Haoran.
Moreover, it was well known internally that Lin Haoran had accomplished all this largely on his own —
without his father's direct involvement.
"Mr. Yang, please have a seat. No need to stand," Lin Haoran said with a smile.
Yang Mingyi nodded and sat across from him.
"Mr. Yang, I feel that Wan'an Group's development pace has been too slow in the past.
What insights or suggestions do you have for accelerating the Group's growth?" Lin Haoran asked, immediately posing a serious question.
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