Recently, Hong Kong's largest airline, Cathay Pacific has frequently "death" and has been on the hot search.
It was revealed that more than 3,000 employees participated in the strike, leaked news of the Hong Kong police flight, and some employees were radical and extreme. The management adopted a tacit attitude towards the behavior of their employees... A series of actions have caused bad social impact!
's behavior of constantly challenging the bottom line has cost Cathay Pacific a heavy price.
On August 13, ICBC International released a research report on Cathay Pacific (00293) stating that it lowered its rating to "strongly sell" and lowered its target price by 39% to HK$6.
This report caused a shock in the stock price of Cathay Pacific . The maximum drop on August 13 exceeded 5%, and it stabilized slightly in the late trading, but the decline was still 2.55%. In less than a month, the stock's market value evaporated by more than HK$10 billion.
According to the public equity structure, the largest shareholder of Cathay Pacific is Swire Co., Ltd., accounting for 45% of the shares.
Shi Minglun is the sixth-generation member of the British Shi Huaiya family, the ruler of Swire Group.
information shows that Swire Group has about 133,000 employees around the world, and its core businesses are mostly located in the Asia-Pacific region, among which Mainland China and Hong Kong are the main operating areas, covering real estate, aviation, beverages and food chains, marine services, trade, etc.
. If you learn about the history of the Shi Huaiya family, you will find that it is closely related to China.
01
1816, Shi Huaiya and his son founded an import and export trading company in Liverpool, England, mainly engaged in textile trade in European and American countries.
With Shi Huaiya's painstaking management, the scale of the trading company has gradually grown. At this time, with the outbreak of the American Civil War, the company's business was affected, so Shi Huaiya began to focus on Asia.
John Schwaiya's son Samuel started the import and export business of tea, silk and textiles between Europe and the Far East.
1866, Samuel went to Shanghai for the first time and discovered huge business opportunities.
After that, it acquired Brewer Foreign Company, which was on the verge of bankruptcy in Shanghai, and on this basis established the "Butterfield and Shi Huaiya Company" (Chinese name is " Swire Foreign Company") and the Swire Shipping Company. In the late 19th century, it jointly controlled the Yangtze River shipping industry in China with Steamship China Merchants and other companies.
In addition to ships, Swire Group also has a huge civil aviation industry. One of the largest airlines in Hong Kong, Cathay Pacific , which holds a 70% stake, is its largest shareholder. Last year, Cathay Pacific revenue reached HK$111.06 billion.
2006 Cathay Pacific spent nearly HK$4.1 billion to increase its stake in China International Airlines, thus reaching 20%. These two major airlines have brought tens of billions of revenue to Swire Group in a year.
02
Real estate is another pillar industry of Swire Group.
2018 Swire Real Estate rental income was HK$12.117 billion, and Hong Kong, the Mainland and the United States are the three key markets of Swire Real Estate .
Beijing Sanlitun Taikoo Li, Guangzhou Taikoo Hui and Chengdu Ocean Taikoo Li can generate hundreds of millions of revenue in a year.
And, I can't believe that most of the cola you drink in China is produced by the Shi Huaiya family.
Shi Huaiya family reached an agreement with Coca-Cola company in decades.
two companies have become strategic partners. The Shi Huaiya family has some real estate in China, including 11 mainland provinces, as well as Hong Kong and Taiwan, and the western United States produce and operate Coca-Cola .
This business can earn 40 billion for Shi Huaiya's family every year, of which more than 20 billion are from the market in mainland China.
Shi Nabe, the head of the Shi Huaiya family, once revealed that the net assets of mainland China and Hong Kong account for 85% of the entire Swire Group's net assets, and , of which the shipping and shipbuilding business alone have reached RMB 77.4 billion.
03
As a typical family business, Swire Group has been passed down for six generations and has not declined after two world wars. The inheritance of family has always been one of its most concerned topics.
As of now, Swire Group has a total of four listed companies in Hong Kong stock market, namely Swire Real Estate , Swire Co., Ltd. A, Swire Co., Ltd. B, and Cathay Pacific .
As of now, the total market value of these four listed companies is HK$148.05 billion, HK$70.108 billion, HK$36.975 billion, and HK$38.788 billion, respectively, and the cumulative market value has exceeded HK$300 billion.
In addition to these 300 billion assets, how many assets does Swire Group control? In fact, no one can explain this problem
