Chapter 22: Making a Move on Wharf

The Shun Tat Logistics fleet went into operation faster than anticipated. Two second-hand Isuzu trucks, retrofitted with insulation and shelving and painted in striking red with the "Shun Tat Logistics" logo, began shuttling between the Cheung Sha Wan food factory and the various Chan Kee mobile sales points.

The increase in efficiency from using the trucks was immediate. Unified delivery not only saved significantly on labor and time but also provided superior insulation; the sweet soups delivered to Yau Ma Tei or Kwun Tong arrived at nearly the same temperature as when they left the factory.

To grasp the situation firsthand, Chen Bingwen insisted on inspecting every mobile point himself.

Behind the Wah Fung Garment Factory, the familiar security captain took a cigarette from Chen Bingwen and circled the new truck, examining it closely. "Ah Wen, you’ve really traded up! This truck looks reliable and hygienic!"

Chen Bingwen smiled and handed over a freshly served bowl of signature red bean soup, steaming and fragrant with the scents of beans and dried tangerine peel. "Have a taste, Big Brother. We just got a batch of Xinhui tangerine peel today; the flavor is even better."

He turned to the workers already lining up, his voice clear and sincere. "Friends, Chan Kee is upgrading our equipment so that everyone can enjoy hot, authentic sweet soup even faster. The taste, the portion, and the price remain the same! Thank you all for your continued support!"

Friendly laughter and responses erupted from the queue.

"You’ve got vision, Ah Wen! The new truck looks clean and professional; can’t find a single fault!"
"Hurry up, I’ve got to get to work!"
"Red bean soup! One bowl, please!"
"I’ll take the black sesame paste set!"

At every mobile sales point, Chen Bingwen took time to serve the soup himself. Aside from the Wah Fung Garment Factory and the Wing Hing Electronics Factory, all other locations were new. He focused his inspections on these fresh additions.

At a hardware factory intersection in Shek Kip Mei, the brand-new standardized Chan Kee food cart was already in place. He noticed that despite it being a new location, business was booming from the start, thanks to the unified, eye-catching branding, the quality guaranteed by the new logistics, and the word-of-mouth from the Victoria Park Lunar New Year Fair. Many workers had clearly come because of its reputation and were full of praise.

"Wow! Chan Kee Sweet Soup? The one from the Victoria Park Fair?" a young worker exclaimed in surprise. "I waited in such a long line there to get a bowl! I didn't expect to find one here!"

He walked quickly to the cart. "One red bean soup! And two salty dumplings!"

"Coming right up!" The attendant worked nimbly, lifting the lid of the insulated bucket to fill a bowl and placing two dumplings on the side of the saucer.

"Hmm? It tastes even better than it did at the fair? The bean paste is smoother!" The young worker took a bite, gasping at the heat, his face full of delight.

"Exactly! It’s all produced in our central kitchen now, so the quality is more consistent," the attendant replied proudly. "Chan Kee’s secret recipe, made with real ingredients!"

Within ten minutes, a line of over a dozen people had formed.

"I used to have to walk twenty minutes just for a bowl of sweet soup! Now it’s right at the door, and it tastes so good!"
"True, a bowl in the morning warms the stomach and keeps you full, for only a dollar or two. Such a bargain!"
"The set is even better! Red bean soup plus dumplings for eighteen cents—it’ll last me until noon!"
"Look at this cart, so clean and tidy. It makes you feel safe eating here!"

"Boss, your sweet soup truly lives up to its reputation!" a middle-aged worker praised while eating.

"Will we be able to get this every day now?" another young worker asked.

"Of course! This cart provides shelter from the wind and rain, so we’ll be here every day," Chen Bingwen replied with a smile.

Under the efficient operation of Gao Zhenhai and Shun Tat Logistics, the twenty mobile points across Kowloon's industrial districts were rapidly established. The unified red carts, clean environment, and steady supply of delicious soup quickly built a reputation among factory workers. Every morning, the insulated trucks from Shun Tat Logistics departed on time. Ah Sheng’s "reformed" brothers were full of drive; the stable income and the sense of dignity that came with "doing legitimate work" made them more committed than ever.

In the office of the Cheung Sha Wan food factory, Chen Bingwen had several newspapers spread out before him, along with a sheet of paper marked with the stock price of Wharf Holdings. With the three-hundred-thousand-dollar loan from Wing Lung Bank fully credited, his account had unprecedented liquidity. Yet, it felt like a wild dog chasing him from behind, urging him to make his next move quickly.

"Brother Wen, the Kwun Tong site is settled. It’s located in the industrial district near the main road. The area is three times larger than this one in Cheung Sha Wan. The rent is twenty-eight thousand a year, with a one-month deposit and one month's rent upfront. I’ve also listed the equipment; it’s modeled after the configuration here. Including transport and installation, the budget is around fifty-five thousand." Gao Zhenhai entered with a stack of documents, his face showing the excitement and caution of a new factory manager.

"Good." Chen Bingwen nodded, his eyes not leaving the newspaper. "Ah Hai, oversee the equipment procurement yourself. Quality first. Start hiring for the new factory simultaneously; use the same compensation structure as here, and give priority to experienced hands. Aim to be operational within half a month."

"Understood!" Gao Zhenhai acknowledged, then hesitated. "Brother Wen, aren't we... moving too fast? Twenty mobile points, five standard stores, a new factory, a logistics company... money is flowing out like water." He had watched the over one hundred and eighty thousand earned from the Lunar New Year Fair rapidly transform into contracts, equipment, and deposits.

Chen Bingwen looked up and met Gao Zhenhai’s gaze seriously. "Ah Hai, the market won't wait for us. The buzz from the Victoria Park Fair is our greatest tailwind. If we don't set sail now while the heat is on, trying to do the same thing later would cost ten times as much, if it could even be done at all. Money is a tool; it only generates more money when you spend it. Remember, efficiency is our lifeline."

He picked up a copy of *Oriental Daily News*. "Later, contact the reporter who covered us at the fair. Offer them some benefits and ask them to write a few more articles to keep the buzz for Chan Kee alive."

Gao Zhenhai nodded immediately. "Right! I'll get on that!"

After handling the factory matters, Chen Bingwen called Zhou Mingzhe. "Manager Zhou, the planning budget for the new Kwun Tong factory will be at your office first thing tomorrow morning. Also, I have a question: I intend to open a stock account to make some conservative investments to hedge against industrial risks. Do you have a trusted stockbroker you could recommend?"

Zhou Mingzhe was surprised on the other end of the line, but considering the business acumen and courage Chen had shown in his business proposal, he found it reasonable. "Mr. Chen, you are truly far-sighted. I will put you in touch with Manager Zhang at HSBC Securities. He is experienced and reliable. I’ll have him contact you this afternoon."

That afternoon, Manager Zhang from HSBC Securities arrived as scheduled. He was a man in his forties, dressed in a meticulously pressed grey suit with gold-rimmed glasses. He wore a professional, pleasant smile, but his eyes betrayed the shrewdness and caution typical of the securities industry.

"Mr. Chen, it is a pleasure to finally meet you. I have read all about the 'Sweet Soup King' of the Victoria Park Fair in the papers. Manager Zhou specifically instructed me that you are a young talent with both vision and boldness, and that I must provide you with the best service." Manager Zhang offered his business card with both hands, his manner impeccable.

Chen Bingwen stood to welcome him, accepted the card, and shook his hand. "Manager Zhang, you are too kind. Please, sit. Ah Hai, serve some good tea."

Once Gao Zhenhai had poured the tea and closed the door, leaving only Chen and Zhang, Chen got straight to the point. "Manager Zhang, time is precious, so I will be direct. The expansion cycle for industrial business is long, and the risks are relatively concentrated. I want to invest in securities to hedge against these risks, and also to seize opportunities to make my capital work more efficiently."

Manager Zhang nodded slightly in understanding. "Diversifying investments and utilizing financial tools to hedge risk—you are very thorough, Mr. Chen. May I ask your view on the market? Which sectors do you favor? What is your risk appetite?"

Chen Bingwen did not answer immediately. Instead, he looked directly into Zhang's eyes. "I am bullish on shipping and real estate, especially companies that own scarce land resources. I am still researching specific targets. I invited you here today primarily to ask: given my current situation, what kind of leverage can I get from HSBC Securities? I am looking for three-to-one leverage."

"Three-to-one?" Manager Zhang’s eyes narrowed slightly. The professional smile on his face faded, replaced by a more serious expression. "Mr. Chen, if I may speak frankly, leverage is a double-edged sword. While it amplifies gains, it also multiplies risks. A three-to-one leverage ratio means that if the market fluctuates unfavorably, your margin will be extremely fragile. A slight oversight could lead to a forced liquidation and heavy losses. Especially in the current global economic climate with so much uncertainty, the risk coefficient is even higher. Given your asset status, is this not a bit too aggressive?"

He paused, his voice deepening. "This is not a game. With a principal of three hundred thousand, three-to-one leverage means you will be operating with nearly a million dollars. The slightest tremor in the market could wipe out your principal in an instant."

Chen Bingwen leaned forward slightly, his voice calm. "Your warning is professional, Manager Zhang, and I am naturally aware of the risks. But I believe that risk and opportunity go hand in hand. I am not blindly taking risks, but acting based on in-depth analysis of the target company and market trends."

"May I ask which company you favor?"

"Wharf Holdings!"

Before Zhang could respond, Chen continued, "I am bullish on Wharf Holdings, not for a gamble, but based on a deep analysis of its core value, industry prospects, and potential market momentum. Its value is far from being reflected in its current share price. The global shipping slump is temporary, but the land in Tsim Sha Tsui and Causeway Bay is eternally scarce! As Hong Kong's economy takes off, the value of these locations will grow exponentially."

He paused, holding Zhang’s gaze. "Leverage does amplify risk, but it also amplifies opportunity. I am requesting three-to-one leverage because I have sufficient confidence in this judgment, and because opportunities are fleeting. I will strictly control my positions, set stop-loss limits, and have the cash flow from my businesses as a backup. I believe you can understand this value-based investment."

The office fell into a brief silence. Manager Zhang frowned, contemplating Chen's words. If Chen were buying Wharf stock without leverage, he would have nothing to say. But with leverage—especially three-to-one—the internal audit process would be strict, and he would need a rock-solid justification. However, Chen’s analysis of Wharf’s core asset value was logical and data-driven; this did not look like the work of an impulsive speculator.

Finally, Manager Zhang looked up and said solemnly, "Mr. Chen, I must admit that your analysis of Wharf Holdings is insightful and hits the mark. Based on your professional analysis, your risk control measures, and the support from your industrial operations, I agree to open a three-to-one leverage account for you. Based on your three-hundred-thousand principal, you can operate with a maximum of nine hundred thousand. But please, remember your commitment to stop-loss. The market is ruthless."

"Thank you for your trust, Manager Zhang!" Chen Bingwen’s face lit up, and he shook Zhang’s hand firmly.

With the capital in place and access granted, Chen did not hesitate. He began placing orders via phone to build his position in Wharf Holdings in small, inconspicuous batches, keeping the price between 12.5 and 13.5 Hong Kong dollars.

Simultaneously, across the Kowloon Peninsula, Chan Kee Sweet Soup was expanding at an unprecedented speed. Five "Chan Kee Sweet Soup" stores in Mong Kok, Yau Ma Tei, Tsim Sha Tsui, Causeway Bay, and Central had completed their preparations and lit their signs almost simultaneously! With unified red-and-gold storefronts, bright glass counters, clerks in neat red aprons, and a consistent supply of sweet soups and exquisite snacks delivered from the Cheung Sha Wan factory, they sparked a frenzy of queues on their opening day.

The reputation built at the Victoria Park Fair, the coverage in the *Oriental Daily News*, the standardized image, and the convenient locations made "Chan Kee Sweet Soup" an essential daily destination for white-collar professionals.

Gao Zhenhai spent his days rushing between the five stores, coordinating restocking, handling emergencies, and supervising service standards. The youthful air in his face had faded, replaced by composure and competence.

"Brother Wen, the Causeway Bay store sold out three times this morning! The traffic in Mong Kok and Tsim Sha Tsui is also exceeding expectations! It's just that raw material consumption is too fast. Zhong Qiang says the production line at the Cheung Sha Wan factory is almost at full capacity."

"Understood." Chen Bingwen stood in a corner of the Central store, watching the flow of customers with a calm gaze. The daily turnover from the five stores was summarized in his hands; the numbers were brilliant, with an average daily sale per store easily exceeding three thousand bowls, far surpassing his estimates.

"Ah Hai, how is the equipment procurement? The new Kwun Tong factory must be accelerated!"

"The second-hand equipment is settled—five thousand less than the budget. It can be transported and installed the day after tomorrow. Zhong Qiang is personally training the ten new workers in Cheung Sha Wan, and a batch will be ready to head to Kwun Tong in a week."

"Good." Chen Bingwen nodded. "Have Zhong Qiang compile the core recipes and key process controls into a manual; the new factory must strictly replicate the standards of Cheung Sha Wan. Once the Kwun Tong plant is operational, the capacity of the Cheung Sha Wan factory will gradually shift to supporting the mobile points and stores in West Kowloon, while Kwun Tong will cover East Kowloon and East Hong Kong Island. Have Ah Sheng optimize the delivery routes to ensure efficiency."

...

That afternoon, while Chen Bingwen was discussing the first production plan for the new factory with Zhong Qiang in the Cheung Sha Wan office, the phone rang sharply. It was Manager Zhang from HSBC Securities.

"Mr. Chen! We have a situation!" Manager Zhang’s voice on the other end of the line carried an unusual tone of gravity.