Core Viewpoint - The situation has escalated beyond the control of the U.S., leading to an antitrust investigation by China's State Administration for Market Regulation into Li Ka-shing's Cheung Kong Group's sale of ports to BlackRock, resulting in a market value loss exceeding 78.1 billion [1][2]. Group 1: Transaction Details - The transaction involves the sale of two significant ports in the Panama Canal, which are crucial for China's maritime security. If these ports fall into American hands, it could jeopardize the safety of Chinese shipping in this vital waterway [2][3]. - Cheung Kong Group has decided to temporarily suspend the signing of the contract with BlackRock, indicating that the deal is not yet terminated but merely postponed [1]. Group 2: Strategic Implications - The investigation by the Chinese government is seen as necessary and timely, as it addresses not only the immediate transaction but also the broader implications for China's overseas shipping security [2][3]. - Even if the antitrust investigation leads to the termination of the deal, it is viewed as a temporary measure, and the underlying issues regarding U.S. pressure on Panama may persist [3]. Group 3: Long-term Solutions - China has already begun to establish alternative trade routes, such as the Chilean port of Quintero, which significantly reduces shipping time from Asia to South America and is less susceptible to U.S. influence [4]. - Other initiatives include the development of new shipping routes, such as the Arctic route in collaboration with Russia and the proposed "land bridge" project with Thailand, which would allow Chinese vessels to bypass the Strait of Malacca [4]. Group 4: National Interests - The investigation serves as a warning to Li Ka-shing and other businessmen that commercial interests must not override national security concerns, emphasizing the need for a proper alignment of business practices with national interests [6][7].

Group 1 - The core transaction involves the sale of port rights in 43 ports across 23 countries by Cheung Kong Holdings for $22.8 billion to a consortium led by BlackRock, raising geopolitical concerns between China and the U.S. [1] - The ports included in the sale are strategically located at both ends of the Panama Canal, which could impact Chinese shipping operations if BlackRock implements high entry fees for Chinese vessels [1][2] - The Chinese government has expressed concerns over the sale, indicating that state-owned enterprises should pause new collaborations with Li Ka-shing's companies, emphasizing the importance of national interests [2] Group 2 - Cheung Kong Holdings has paid $658 million in taxes and invested $1.7 billion in upgrading port facilities in Panama since acquiring operating rights in 1997 [2] - The urgency for Cheung Kong to complete the transaction is driven by political risks and public pressure, with plans to finalize the agreement by April 2 [2][3] - The transaction reflects broader U.S.-China strategic competition, highlighting the need for China to enhance its port network and influence in international rule-making to secure supply chain safety [4]

Core Viewpoint - The announcement of "no decision made" by the 97-year-old business tycoon signifies a strategic maneuver in the context of China's capital navigating through the waves of de-globalization [1][7]. Group 1: Business Strategy - Cheung Kong Group is likened to a tightrope walker, balancing its European 5G market interests with scrutinized port transaction agreements, creating a complex situation for Western capital [2]. - The strategic choice to list in London allows Chinese technology to be funded by British capital, effectively using a "borrowed" approach to enhance its market position [3]. - The contrasting narratives surrounding capital movements highlight a double standard, where Western acquisitions are celebrated while Chinese investments are criticized as "strategic infiltration" [4]. Group 2: Regulatory Environment - China's regulatory approach is characterized as a blend of support for overseas expansion while ensuring compliance through laws like the Data Security Law, showcasing a sophisticated balance of flexibility and control [4][5]. - The ongoing infrastructure projects, such as the China-Europe Railway Express, serve as examples of successful cooperation, countering the narrative of decoupling [5]. Group 3: Market Reaction - The response from capital markets, including significant purchases by Middle Eastern sovereign funds and Singapore's Temasek, indicates a strong vote of confidence in the potential of Chinese capital amidst ideological noise [7]. - The silence of the 97-year-old tycoon is interpreted as a powerful statement against the prevailing chaos, suggesting that the tide of cooperation will ultimately overcome self-serving barriers [8].

Core Viewpoint - The Chinese market regulator has intervened to halt a significant transaction involving 43 strategic ports at both ends of the Panama Canal, which was set to be signed by Li Ka-shing's CK Hutchison and BlackRock, raising concerns over geopolitical implications and national security [1][2][4]. Group 1: Transaction Details - The signing of the deal was scheduled for April 2, but the Chinese market regulator's sudden action has forced CK Hutchison to delay the agreement, providing the company with a critical pause [2][3]. - The transaction involves controlling key ports that handle a significant portion of global trade, with BlackRock managing approximately $10 trillion in assets, highlighting the scale and importance of the deal [5][10]. Group 2: Market Reaction - The capital market reacted sharply, with CK Hutchison's market value dropping by over 78 billion HKD in just 11 trading days, indicating investor concerns regarding the deal [3]. - The Hong Kong business community has largely supported the government's intervention, reflecting a consensus on the need to protect national interests [3][12]. Group 3: Geopolitical Context - The Panama Canal is crucial for global trade, with approximately 6% of maritime trade, valued at over $270 billion, passing through it annually, emphasizing its strategic importance [7][9]. - The U.S. has a historical interest in the Panama Canal, having controlled it for nearly a century, and current efforts by BlackRock are seen as a continuation of this geopolitical strategy [11][12]. Group 4: Implications for Chinese Enterprises - The situation presents a dilemma for CK Hutchison, as proceeding with the deal could lead to domestic backlash and regulatory penalties, while backing out may invite pressure from the U.S. and potential financial penalties [12][13]. - The case illustrates a broader challenge for Chinese entrepreneurs, balancing commercial interests with national security in an increasingly complex international landscape [14][15].

今天不做职场博主了，做回情感博主。 格总您好，我叫小玲， 对不起，我现在太痛苦了，我没有人可以讲这个事，只好给熟悉的博主留言，起因是谈了三 年的男朋友最近在生我的气，生气是因为我背着他去相亲，相亲对象后来给我发语音，被他 听见了。 我很喜欢男朋友，当年也是我追的他，他一开始有点害羞，确认关系后就像变了个人，对我 特别痴情，主动上交工资卡，他的收入比我高一点，但也不算高，只是他花得很少，平时就 打打游戏，也不爱出去玩。 我相亲就是因为慢慢觉得很无聊，觉得他没有上进心，觉得万一能碰到更合适的呢。 但是自从男朋友跟我生气不理我，我才忽然意识到我是爱他的，只是日子太平淡了，我没有 意识到我已经习惯他的存在了。 他不算多优秀，但样子是我喜欢的类型，有点傻傻的憨憨的，还喜欢他哄我高兴时候的用 心，和他在一起我心里就很安稳，如果他向我求婚我肯定会答应，但是现在我犯了错，他很 生气，已经好几天没联系我了，我该怎么办。 朋友叫我不必在意，说不能惯着，应该继续相亲，找个条件更好的，喜不喜欢无所谓。 但是我很害怕，我现在脑袋里都是我男朋友，我不希望有一天结婚了，新郎不是他，格总， 我该怎么办？ 当又一个夜幕来临，你发现你的确没那么 ...

清晨的港股市场突然炸开了锅。长和集团毫无预警地宣布"可能分拆全球电讯业务"，消息一出，股价应声下跌，散户哀声一片，资本圈也瞬间哗然。 李嘉诚这一步棋，走得让人意外，但细想之下又在情理之中。 长和的电讯业务，体量庞大且复杂。从欧洲六国（英国、意大利、瑞典、丹麦、奥地利和新西兰）的3G网络，到中国香港和澳门的固话宽带，以及东南亚 的布局，去年该业务贡献了883亿港元的收入，占集团总营收近两成。 然而，问题也随之而来——业务增速仅为2%，在5G和数字化浪潮的冲击下，显得力不从心。李嘉诚选择此时分拆，显然是想甩掉这个包袱，同时套现回 血。 港口没卖成，他迅速抛出了电讯分拆的计划，节奏之快让市场措手不及。市场传言，分拆后的电讯公司估值最高可达190亿美元，甚至可能成为伦敦近年来 最大的IPO。 然而，长和的公告却含糊其辞——"董事会尚未决定，不确定是否交易"，这种话术，显然是在放风试探，等待市场情绪升温后再收割。 这背后隐藏着三个关键原因： 首先，避险。将欧洲电讯资产置于伦敦，即便大陆因港口交易对长和实施制裁，李家也能保住半壁江山。 其次，套现。电讯业务虽然利润较高，但技术迭代烧钱，不如趁早卖个好价钱。 最后，战略布局 ...

对于这个消息，长和集团特意发了一个公告，写的是，公司可能交易，或拆分上市全球电讯业务的资产和运营相关业务。但董事会还没有就公司 的全球电讯业务的任何交易做出决定。啥意思呢？队长给大家翻译一下就是，李嘉诚确实想拆分资产，但现在风高浪急，舆论刺激太大了。这事 暂时做不了决定，等风头过了，等到合适的时机，再拆分。 来源：牲产队2024 拆分长和资产，李嘉诚似乎铁了心要卖港口。 就在"港口交易"被叫停，市监总局介入审查以后，长和集团又传出消息。李嘉诚的次子李泽楷旗下的电信业务等，将全面拆分，准备前往英国伦 敦上市。又是卖港口，又是拆分资产，这岂不是顶风作案吗？在这个关键时刻，李嘉诚到底在打什么算盘？ 为什么要拆分呢？主要有三个原因： 一是，长和旗下的电信业务，主要市场不在中国，而在欧洲。在中国，盈科电讯主要覆盖香港和澳门。这香港、澳门总人口才800来万，市场比较 小。它真正的大市场在欧洲六国，分别是英国、意大利、瑞典、丹麦、奥地利和新西兰。因为这些资产本身就位于欧洲，市场也在欧洲。它最合 适的上市地点，就是英国伦敦了。 二是，规避风险。香港资本都有一个共性，即两头吃。一边吃大陆的市场红利，一边吃欧美的资本红利。以前， ...

长和累计亏损近千亿港元，李嘉诚或将资产重构，长和发布公告后，港口交易已有眉目，还拦得住吗？ 自3月4号以后，港府曾多次约见长和实业有关代表，就港口交易商谈合理的解决方案；港澳办多次转发 《大公报》的檄文，商务部专家、政界人士等人批判李嘉诚"在商不言强"，强调"商人无祖国是谬论"。 然而长和依旧我行我素，仅仅通过消息人士放风称本周不会签署协议，终于等到了市监总局的下场。整 个过程不难看出，国家不是没给机会，反而多次苦口婆心地劝告，几天前国家还出台了《反外国制裁 法》，打消李嘉诚对美国制裁的顾虑，但李氏家族的表现却令人失望。 几天前，美方发言人就港口交易表态，称希望美企与长和达成交易，以削弱中国对巴拿马运河的"控 制"。紧接着在3月31日，中国外交部再度发声，再次强调中方坚决反对利用经济胁迫等手段损害他国正 当权益的行为。一场关于海运物流的大国博弈已经展开，长和的这桩交易已经被排除在外，如果国家叫 停，那么李嘉诚后悔也晚了，不但损失了数百亿港元，还有个人的口碑和形象。时间不等人，对李嘉诚 来说，在有关部门作出调查结论前，以国家利益为重，主动终止交易，或许更为明智。 即便如此，长和企业仍然不愿回头，3月31日，该公 ...

国家多部门发声后，长和实业有新动作，公开否认电讯业务交易，美媒的话或将应验，李嘉诚打定主意 了？ 这则公告发布的特殊背景是，受港口交易的影响，长和港股近期连续下跌，市值缩水近千亿港元，只要 李嘉诚不终止与美企的交易，市场的担忧就不会减少。而李嘉诚的次子李泽楷掌控着盈科拓展集团，商 业版图涉及腾讯、金融和地产领域，如果长和拆分电讯业务，很可能由李泽楷接盘。巧合的是，几天前 盈科拓展有人对媒体透露，李泽楷旗下的所有业务全部独立于长和实业。多种迹象表明，李嘉诚有意拆 分长和的资产，把"鸡蛋"放到更多的篮子里，即便长和被内地针对，也可以最大限度"止损"。 如此一来，媒体的预判或许一语成谶，美媒"彭博社"此前发布报道，称尽管中方不满，但李嘉诚仍计划 出售港口给贝莱德；几天前观察者网发布评论文章，揭露李嘉诚的"暂缓交易"是缓兵之计，本质上还是 对美国经济胁迫的屈服。目前距离4月2号这个原定的签字日只剩1天时间，长和还没有任何表态，甚至 拒不回应国民对港口交易的关切，已经说明了很多问题。 李嘉诚踩下的"刹车"或许并不是与美企的交易，而是在内地的发展之路，要知道长和的电讯业务主要涉 及欧洲、香港和东南亚，未来李氏家族的资产和 ...

作者：李云飞｜来源：原创 虽然李嘉诚暂缓了巴拿马港口的交易，但是暂缓并不代表着就放弃。这也就是说，李嘉诚很有可能在用缓兵之计。 但是现在尴尬的是，一边是我国不但出台了《反国外制裁法》，国家更是对长和港口交易进行了反垄断审查！可以说这招够狠啊，因为当审查程序启动时， 交易的双方要么就是无限期的等待，要么就只能够是主动放弃。至此，长和旗下公司的股价大跌了781亿港元。 而另一边呢？贝莱德资本则更加狠，给你的缓冲期只有145天，如果在7月23日前还不能够签约的话，长和就需要赔付交易额的20%作为违约金，大约是210 亿港元。这相当于长江实业去年净利润的83%，等于是一年都白干了。 就在这左右为难之际，新的转折点又来了！那就是长和紧急发声说，目前我们没有做出分拆本公司电讯资产的决定，但是我们也不确定接下来会不会做出这 样的决定。 很多人不理解这句话的意思！那我就先来解释一下哈，长和旗下的公司在欧洲就投资了多个电讯资产，这些资产的业务覆盖了欧洲、香港及东南亚市场，价 值超过1000亿港元，分拆上市就是将这一块资产分开出来成为继长江基建后第二家登陆伦交所的长和系企业，那么不确定就代表着有可能我们会这么做。 这背后的意思就 ...