作者丨 岳家琛 编辑丨 孙春芳 来源丨 棱镜 北京东方广场的奢侈品店铺依然顾客不断，但李嘉诚的资产却正在加速撤离。 以下文章来源于棱镜 ，作者岳家琛 棱镜 . 腾讯新闻出品栏目，《棱镜》聚焦泛财经深度记录。 将投中网设为"星标⭐"，第一时间收获最新推送 李嘉诚的万亿商业帝国正在上演一场夸张的大撤离。 近日，李嘉诚旗下的长实集团将四个楼盘的400余套房源，进行了一次"清仓式"大甩卖。 据了解，这400余套房源主要集中在广东省，其中惠州泷珀花园单价跌破9000元，最低的一套仅需 40万元。 此前网传香港深水湾道 79 号，这座陪伴李嘉诚六十余年的四层防弹别墅，也正以七六折的价格被摆 上了"货架"。不过李嘉诚方面随后否认了这一传闻。 对于香港房产的出售，虽然长子李泽钜快速辟谣，但李家加速撤离早已成了人们的共识。长实集团 2024年报中，一组数据揭示了其资本版图的巨变：中国内地业务收入占比萎缩至5%，香港仅剩 7%，而欧洲市场则贡献了50%的收入。 从港口到房地产，李嘉诚的万亿商业帝国正在上演一场夸张的大撤离。 降价甩卖大湾区房产 2025年，李嘉诚98岁了，他正在将内地楼市"最后的资产"出售撤离。 近日，李嘉诚长江 ...

Core Viewpoint - Li Ka-shing's rapid divestment of assets in China raises questions about his future strategies and the implications for the real estate market [5][7][22] Group 1: Asset Divestment - In July, Li Ka-shing's Cheung Kong Group sold 400 residential units across four projects, with prices starting as low as 400,000 HKD, significantly lower than typical market entry points [5][7] - The urgency of this asset liquidation during a market downturn has led to speculation about whether it is a strategic move to reallocate funds or an indication of retreat from the Chinese market [7][13] - The sale has attracted many buyers from Hong Kong, indicating a potential shift in market dynamics and buyer sentiment [7] Group 2: Historical Context and Strategy - Li Ka-shing's past strategies involved acquiring land during downturns and selling during peaks, but the current divestment appears to contradict this pattern [7][14] - The case of the South City Hub project in Chengdu illustrates his long-term strategy of land hoarding and delayed development, which has historically yielded significant profits [14][15] - The project saw a land purchase in 2004 for over 2.1 billion HKD, with a floor price of 1,030 HKD/sqm, later selling at an average residential price of 24,000 HKD/sqm in 2020, resulting in substantial gains [15][19] Group 3: Market Implications - Li Ka-shing's divestment signals a potential shift in the real estate landscape, as it may exacerbate supply-demand imbalances and increase housing affordability challenges for ordinary citizens [22][23] - The tightening of regulations against land hoarding and speculation since 2015 has impacted the operational strategies of major real estate players, including Li Ka-shing [26][28] - The evolving regulatory environment suggests that traditional strategies of "time for space" may no longer be viable, indicating a need for adaptation in investment approaches [28][29] Group 4: Broader Economic Context - The changing global economic landscape, particularly in the context of US-China relations, has influenced perceptions of capital and investment strategies, with a growing emphasis on long-term value creation [37][38] - The narrative surrounding Li Ka-shing reflects broader societal concerns about the role of capital in economic development and the need for responsible investment practices that benefit the wider community [34][36]

Core Viewpoint - Li Ka-shing, a prominent Chinese businessman, is rapidly divesting his assets in China, leading to a shift in public perception about him [3][7]. Group 1: Asset Liquidation - In July, Li Ka-shing's Cheung Kong Group sold 400 residential units across four projects, with prices starting as low as 400,000 HKD, which is about one-third of the down payment for similar properties in Hong Kong [5][7]. - By early August, reports indicated a surge in demand from Hong Kong buyers, with many properties selling out quickly [6][7]. Group 2: Market Strategy - Historically, Li Ka-shing has been known for buying land during market downturns and selling during peaks. However, his recent asset liquidation during a market low raises questions about his strategy and intentions [7][10]. - The "art" of land hoarding and slow development has been a hallmark of Li's approach, exemplified by the South City Hub project in Chengdu, where he profited significantly by delaying construction and selling off portions of the project [10][11][15]. Group 3: Regulatory Environment - Since 2015, China's tightening real estate regulations have impacted Li Ka-shing's land hoarding strategies, leading to increased scrutiny and penalties for such practices [25][26]. - The shift in policy indicates a move towards addressing the imbalance in real estate supply and promoting more sustainable development practices [26][28]. Group 4: Broader Implications - Li Ka-shing's rise and current challenges reflect the changing dynamics of the business environment in China, where the focus is shifting towards long-term, sustainable growth rather than speculative practices [30][31]. - The ongoing geopolitical tensions and economic shifts are prompting a reevaluation of capital operations, with a growing emphasis on aligning business practices with national interests and social equity [34][35].

Core Viewpoint - Li Ka-shing's rapid divestment of assets in China raises questions about his future strategies and the implications for the real estate market [5][11][52]. Group 1: Asset Divestment - In July, Li Ka-shing's Cheung Kong Group sold 400 residential units across four projects, with prices starting as low as 400,000 HKD, significantly lower than typical entry points in Hong Kong [6][7]. - The urgency of this asset liquidation during a market downturn has led to speculation about whether it indicates a strategic pivot or a retreat from the Chinese market [9][11]. - The media coverage surrounding Li Ka-shing has shifted from financial news to more sensational narratives, reflecting public concern over his asset withdrawal [9][10]. Group 2: Historical Context and Strategy - Li Ka-shing's past strategies involved acquiring land at low prices and delaying development to maximize profits, exemplified by the South City Hub project in Chengdu, where he profited nearly 10 billion HKD over 16 years [14][19][23]. - His approach of "holding land" has been replicated across various cities, leading to significant financial gains but also contributing to market imbalances and increased housing burdens for ordinary citizens [28][23]. - The shift in government policies post-2015 has increasingly scrutinized such practices, indicating a changing landscape for real estate investment in China [36][39]. Group 3: Broader Implications - The changing regulatory environment suggests that the era of easy profits from land speculation may be coming to an end, as the government emphasizes the need for balanced real estate development [38][39]. - Li Ka-shing's legacy as a businessman is being reevaluated in light of these changes, with a growing emphasis on sustainable and socially responsible investment practices [42][45]. - The international context, particularly the U.S.-China tensions, further complicates the landscape for investors like Li Ka-shing, who may need to adapt to new geopolitical realities [46][50].

Core Viewpoint - Li Ka-shing, a prominent Chinese businessman, is rapidly divesting his assets in China, leading to a shift in public perception and speculation about his motivations [2][6]. Group 1: Asset Divestment - In July, Li Ka-shing's Cheung Kong Group sold 400 residential units across four projects, marking a significant asset liquidation [3]. - The lowest entry-level property was priced at approximately 400,000 yuan, which is about one-third of the down payment for similar-sized residences in Hong Kong [4]. - By early August, many Cantonese-speaking Hong Kong buyers were reportedly rushing to purchase remaining units, indicating a strong demand despite the market conditions [6]. Group 2: Market Strategy and Historical Context - Historically, Li Ka-shing has been adept at acquiring land during market downturns and selling at peaks, but his current actions during a market low raise questions about his strategy [6][8]. - The case of the South City Hub project in Chengdu exemplifies his strategy of land hoarding and delayed development, where he purchased land in 2004 for over 2.1 billion yuan and later profited significantly from its eventual sale [10][11]. - By 2020, the average residential price for the land he acquired had soared to 24,000 yuan per square meter, yielding substantial profits from his long-term holding strategy [15]. Group 3: Regulatory Environment and Future Implications - The tightening of real estate regulations in China post-2015 has impacted Li Ka-shing's land hoarding tactics, leading to increased scrutiny and penalties for such practices [26]. - The shift in policy indicates a move towards promoting a healthier real estate market, which may challenge the viability of Li's previous investment strategies [27][28]. - The changing landscape suggests that the era of "time for space" strategies may be coming to an end, necessitating a reevaluation of capital operations in the real estate sector [27][28].

Core Viewpoint - The article discusses the recent sale of port assets by Li Ka-shing's family-owned company, Cheung Kong Holdings, to BlackRock, highlighting the strategic timing and implications of this transaction in the context of geopolitical tensions and market conditions [2][4][5]. Group 1: Transaction Details - Cheung Kong Holdings plans to sell port assets in 23 countries, including key ports at both ends of the Panama Canal, for a total consideration of 136.3 billion [3]. - The sale has sparked significant controversy and speculation regarding Li Ka-shing's motivations for cashing out at this time [5][6]. Group 2: Real Estate Insights - The article details the sale of a luxury residential project, Yucuiyuan, in Beijing, which is the last residential project held by Li Ka-shing's family in the city [8]. - Yucuiyuan was acquired in 2001 for 700 million, with a planned construction area exceeding 440,000 square meters, resulting in an average land cost of less than 1,600 per square meter [9][30]. - The project has faced delays, with the pre-sale permit obtained in July 2023, and the current sales performance showing a low take-up rate of less than 25% [13][21]. Group 3: Pricing and Market Strategy - The current listing price for Yucuiyuan ranges from over 90,000 to nearly 100,000 per square meter, while the average transaction price for similar properties in the area is around 90,000 per square meter [14][15][19]. - Despite the high initial pricing, the project has seen significant discounts, with recent sales dropping to 70,000 per square meter, indicating a price reduction of approximately 30% from the original listing [22][23]. - Li Ka-shing's strategy of holding land for long-term appreciation has been highlighted, with the current pricing still reflecting a 40-fold increase from the original land cost [30][31]. Group 4: Market Outlook and Investment Philosophy - The article suggests that Li Ka-shing's recent actions indicate a desire to liquidate assets quickly, possibly due to a pessimistic outlook on the real estate market [36][39]. - His investment philosophy emphasizes the importance of timing in buying low and selling high, showcasing his ability to navigate market cycles effectively [38][39]. - The article concludes that while there may be skepticism about his motives, his investment acumen remains highly regarded in the industry [40][41].