Chapter 756: The Dutiful Son
"Didn't leave me anything at all?"
Zheng Qilong, upon seeing his father's will, was like a man possessed: "I don't believe it. This is fake."
Although his name was on the will, it was just the family trust fund's minimum benefit, a few hundred thousand each month, which he could only receive monthly after getting married.
Zheng Jiachun transferred all of the Zheng family's shares in Zhou Da Fu and New World to the Zhou Da Fu Family Trust Fund.
The manager of this fund is his elder brother, Zheng Qiming, which, although not directly given to him, was indirectly authorized.
Xu Jiayin noticed Lu Liang seemed very interested and softly explained: "When there are many sons, this is how it's done. Although an extra step is added, it ensures the family doesn't fall apart after the elder generation passes away."
"A temporary fix, not a permanent solution, just a facade," Lu Liang pondered. This method might hold things together in the short term, but over time the brothers might end up not even speaking to each other.
After all, a forced unity is never sweet, and Zheng Jiachun's will is like trying to force all the fruits together, regardless of whether they want it or not.
"In the face of family collective interests, personal feelings are insignificant." Old Xu smiled, noncommittal, clearly implying he also agreed with this approach.
The lawyer, the notary, and institutional parties were present, confirming the will's authenticity, which would then take effect.
Zheng Qiming legally became the family head of the Zheng family, glancing at his brother before saying to the old retainer Zhou Mingyuan: "Uncle Yuan, I'll leave Qilong in your care for now. I'll have a chat with Mr. Xu and Mr. Lu first."
Seeing Zhou Mingyuan nod, Zheng Qiming looked apologetically at Lu Liang and Xu Jiayin, "Sorry to keep you waiting, please, this way."
The two of them followed Zheng Qiming to the company meeting room. Although it was called a shareholders' meeting, now the shareholders of New World were only between them.
Because the shares held by others amounted to less than 7%, all floating in the secondary market, and those individually or institutionally owning more than 1% were virtually nonexistent.
Therefore, the shareholders' meeting was essentially dictated by them, with Xu Jiayin as the representative of the absolute controlling shareholder group.
"Mr. Zheng, since there are no outsiders here, let's speak frankly, what do you think?" Xu Jiayin was the first to bring up the matter.
No matter how polite and cooperative Zheng Qiming behaved, it wasn't enough to make him soften his stance.
"Sure, you go ahead, Mr. Xu," Zheng Qiming called his office secretary to act as the meeting recorder.
To accurately and thoroughly record the decisions, views, and suggestions of the attendees.
Eventually, all this would need to be published to the group's shareholders and board of directors.
Xu Jiayin glanced at the recorder and spoke in a grave tone: "I propose on behalf of Hengtai Group, that as the main shareholder of the group, Hengtai should enter the board to participate in key decisions."
"Indeed, that should be the case, I agree," Zheng Qiming nodded.
Xu Jiayin continued: "Chairman Zheng Jiachun had an unexpected accident, and his condition remains unknown. While I am very concerned, a nation cannot be without a ruler for a day, nor should a family be without a head. Hengtai suggests a re-election of the chairman by the board."
"Mr. Xu, convening a board meeting to re-elect the chairman might not be appropriate right now."
Zheng Qiming's face darkened. He thought Xu Jiayin joining the board during his father's illness was already excessive but did not expect him to want a direct transfer of power.
With his father's life uncertain, the Zheng family had also offended HSBC.
Having just taken over the family business, with Lu Liang watching intently, Xu Jiayin becoming the new chairman of New World Group was almost a foregone conclusion.
"Mr. Zheng, in the operation of a conglomerate, there is no question of appropriateness, only legitimacy and legality," Xu Jiayin said coldly.
Lu Liang, who had been silent, suddenly spoke: "Qiming, it's time to let go. Dragging it out will only lead to Zhou Da Fu's downfall too."
Zheng Jiachun had become reckless towards the end, using a bridging method to utilize Zhou Da Fu's 50 billion strategic reserve fund.
If New World were still a one-family-show of the Zhengs, the decision to misappropriate Zhou Da Fu's funds would have been an internal matter.
But now, with Hengtai as the majority shareholder of New World, unless Old Xu agreed to repay, Zhou Da Fu could do nothing.
The reserve funds of a jewelry and gold group are akin to a bank's reserves; they are essentially customers' private assets.
Once the news got out, Lu Liang wouldn't even need to make a move; someone would naturally short Zhou Da Fu's stock.
Zheng Jiachun had already made too many mistakes. If Zheng Qiming doesn't remediate, the entire Zheng family would be dragged into an abyss.
Zheng Qiming was silent for a long time and then softly said: "I need a promise..."
At 4 PM, the Hong Kong stock market closed.
Today, New World's K-chart was like a condensed up and down process.
Opening at 89.2 yuan, peaking at 158.74 yuan during the session, and closing directly at 75.82 yuan.
The single-day drop ultimately stopped at -14.82%, with its market value falling below 200 billion, returning to 177.3 billion.
At 4:15 PM, New World Group announced the inclusion of major shareholder Hengtai Group on the board.
At 4:30 PM, New World Group announced again that due to Chairman Zheng Jiachun's health issues, after a vote by all board members, represented by Hengtai Group, Xu Jiayin took over the position of New World's chairman.
"???"
"I worked myself into a stroke in the hospital, and my prodigal son just handed over the family legacy?"
"It's a good thing Zheng Jiachun is hospitalized with life uncertain, or he'd die from anger."
"Damn, this son sold off the family farm without a care. How did someone as soft as Zheng Qiming end up as the heir?"
The news caused an uproar in public opinion.
Zheng Qiming's reputation was in ruins, even the traitorous Old Xu seemed justified in the public eye.
"Filial piety comes first," they said, but Zheng Qiming's act was no less than stabbing his father in the back, despised by all.
"What a dutiful son!"
Returning to Phase 2 of Plaza Building, Lu Liang couldn't help but sigh.
Outsiders thought poorly of Zheng Qiming, but only they knew that he was the truly dutiful son.
Pit against his father, he had to swallow his teeth and endure the infamy alone.
Xu Jiayin chuckled, "So you saw through it too?"
"Isn't it obvious? I've seen people dump on their fathers but never seen such a father dump on his son," Lu Liang couldn't help but laugh.
Previously, Zheng Qiming had been cooperative as a setup for the final commitment.
Just as Lu Liang said, Zheng Jiachun had been reckless towards the end, even misappropriating Zhou Da Fu's reserve funds.
Zheng Qiming stepping in was to close the stable door after the horse had bolted.
Since Xu Jiayin would now control New World, there was no guarantee repayments would be made timely; thus, Zheng Qiming sought a written promise.
The Zhengs fully withdrew from New World and ceased internal power struggles with Hengtai, but New World was required to settle Zhou Da Fu's bridging funds within six months.
"Ah Zheng raised a good son," Xu Jiayin picked up the topic, indirectly asking, "What are your plans next?"
The Xiangjiang Market's drama had just begun. Next might be a direct confrontation between Tianxing and HSBC.
"My son was born; I'm going home to spend time with him," Lu Liang said with a smile.
Old Xu was momentarily stunned, understanding that Lu Liang didn't want to discuss further, he pivoted his topic: "Congratulations, when did it happen?"
"Just yesterday."
"Early September, year of the dog."
Old Xu murmured, picking up his phone to call the person in charge at Modu Hengtai: "Make me a pure gold zodiac dog."
"Very thoughtful,"
Lu Liang chuckled, taking a sip of tea, saying softly: "The Xiangjiang Market has been too hot recently, it's overloaded, needs cooling down for a while."
Tianxing Finance had just acquired Huazhi, privatization would take time, Xingheng was merging with Guangsheng, and Delimei was in litigation with IRS, all requiring time.
Even if Lu Liang wanted to take further action, the resources couldn't keep up, better to take a break, and return to the embrace of the new energy vehicle market.
Befitting the golden autumn of early September's Gold and Silver season, where Tianxing Automobile's second SUV model, Yao Guang, was set for launch.
Old Xu suddenly asked: "How about Hengchi?"
"Ha, truthfully?"
"Truthfully."
Lu Liang didn't mince words: "Not much potential, just about raising some funds in the capital market."
The electric car market, without much value, is essentially a big battery on four wheels with a vehicle system.
Yet, delving into details, like Tesla's three-mode coordination alone, Tianxing Automobile had invested hundreds of billions without guaranteeing a stable surpassing, let alone Hengchi from Wan Guozao.
Initially, Hengchi chose the Wan Guozao path as a gimmick to raise stock prices, otherwise there wouldn't have been such a rushed launch across the series, just to gather a big wave.
Now, having acquired New World and possessing the Xiangjiang Real Estate Market, wasting time on Hengchi is unnecessary.