On November 10, the national "shopping party" was immersed in the Double 11 shopping carnival, and Xu Jiayin was busy "selling goods". What I sell is not the house of Evergrande , but his luxury house in Hong Kong.
A mysterious Japanese consortium accepted Xu Jiayin's personal luxury home pledge business, accepted a villa worth 2 billion Hong Kong dollars in Bulijing, a wealthy district in Hong Kong, and gave HK$800 million in life-saving money.
It is said that Xu Jiayin threw HK$800 million into Evergrande to pay interest on Evergrande’s financial management. In September, after the Evergrande Wealth burst, Evergrande fell into a huge liquidity crisis, and small and medium-sized creditors surrounded the company and asked for money.
Xu Jiayin made a tough statement: "I can have nothing, but investors cannot have nothing."
There are more people singing high-profile. The problem is that Evergrande is a limited liability company. If the capital is insolvent, Boss Xu can directly declare bankruptcy to be exempted from his debts, and his personal wealth does not have to be responsible for the debt.
This time, the mortgage of a personal villa allowed the outside world to see Boss Xu's sincerity and use his own money to block the company's debts. Even if the law did not force him to do so, it was completely voluntary that Xu Jiayin showed the " entrepreneurship " that was quite scarce in the Chinese business world.
Some media reports said that Xu Jiayin has sold assets worth 7 billion yuan, including villas and private jets, to block the company's debts.
And the one who took over Xu Jiayin was this mysterious Japanese consortium - Orix.
Olix: Don’t believe in dreams, only believe in assets
Japan Olix is a company that plays the "money-making game". When it was established in 1964, the amount of funds was only 100 million yen, but now it has reached 80 trillion yen. In 56 years, Orix's assets have increased by 800,000 times.
Olix is not well-known in China. The most famous Japanese consortium in China is SoftBank . But in terms of hard power, SoftBank is far less powerful than Orix.
As of 2020, SoftBank managed assets of only US$300 billion, while the low-key Orix had US$700 billion, which was significantly higher than SoftBank. Even in the United States, the global financial center, Orix ranks in the top ten.
SoftBank is famous because Sun Masayoshi dares to take risks. No one is optimistic about Ali , he dared to decisively give Jack Ma 20 million US dollars. Later, Alibaba soared into the sky and then became SoftBank's popularity in China.
If Orix and Jack Ma were talking about financing at that time, Orix, who pursued stability, would not have given Jack Ma a penny because the two companies had different business philosophy:
SoftBank likes to pursue innovative projects - high risk and high returns, while Orix prefers traditional assets - low risk and low returns. For example, if SoftBank is an angel investor , Orix is the pawnshop owner.
If you want the pawnshop owner to give the money, you must take out the mortgage.
Check out the scope of Olix's investment and you can see it at a glance:
Real estate - real estate pledge is required, and the land under your feet is required.
Finance leasing - lend you money to buy production equipment, but the property rights belong to him, you just rent it.
Trust Management - Use your money to help you invest, the loss will be yours and the profit will be shared.
Bank and Insurance - Traditional financial business, earn interest.
Direct investment - purchase of non-performing assets or equity in excellent companies at a low price.
It is not easy for a company to "get money" from Orix. Oris doesn't believe in dreams, but only in assets. What is an asset? Assets can create non-labor income for you in the future, commonly known as: making money while lying down.
Oris, who uses the "pawn shop thinking" to do business, naturally does not have the story of "get rich overnight" like SoftBank.
Jack Ma and Masayoshi Son only talked for 10 minutes, and the latter gave 20 million to buy 30% of Alibaba's shares. Is SoftBank really buying shares? Actually it's a dream. Alibaba is going to go bankrupt, and all 20 million is wasted.
SoftBank lost $12.7 billion (principal 100 billion) in 2019. The following year, Masayoshi Son frantically sold his shares to cash out, making more than $40 billion, and lost another $7.2 billion in the third quarter of this year. SoftBank, which invests in "dream", lacks profit stability.
Olix has a terrible record: since its establishment in 1964, except for the first year of losses, the rest of the fiscal year have been profitable! Whether it is oil crisis , Internet bubble , subprime mortgage crisis or European debt crisis , Orix has never lost money, and let the storm rise and sit on the fishing boat. Why is Olix invincible in
?
Olix's "pawn shop thinking" can minimize investment risks. The pawnshop industry has existed for thousands of years and has remained popular yet. What is the reason? Because the borrower has to give the mortgage.
Just like Xu Jiayin mortgaged the villa to Olix, the market price of this villa is 2 billion Hong Kong dollars, and Olix will certainly not buy it at the market price. They have to subtract the market bubble and calculate the cost. The "bubble" is a risk, and they do not bear it at all. Excluding the bubble value of this villa is worth HK$800 million, Orix will give it 800 million.
Then why can’t Boss Xu find a buyer who is willing to pay 1.2 billion? Because Orix gives cash, it will be directly transferred to your account. No matter how many rich people in Hong Kong are, there are only a handful of people who can take out 800 million cash at any time and deliver it on the spot.
Who told Xu Jiayin to use money urgently! If you can wait, 1.5 billion is possible.
Olix can, etc. After the agreed period, Xu Jiayin cannot get the ransom. Olix can slowly find buyers in the market and sell them at a high price.
Even if you encounter financial crisis , the market is depressed and no one buys it, the actual value of the villa will not be less than HK$800 million. The bubble is periodic, and Orix can still get rid of it until the next cycle.
So, Orix can not make money, but it will never lose money. Any investment will become an equivalent asset. The stock market has risen and falls, and the currency has appreciation and depreciation. Only assets always have value - the difference between making more money and making less money.
Olix chose to be an ordinary "pawn shop" and did not follow the trend to engage in venture capital , which is worth our reflection.
In recent years, the Internet has been filled with too many wealth stories of "investing 1 million, and turning 100 million in three years". Especially on , there are many "business masters" on who love to tell various strange business models and instill stories of "high risk and high reward".
Shen Nanpeng , Guo Guangchang , Hisan , Xu Xin and other venture capital tycoons are amazing. However, what they said in front of the camera are successful cases, what are the failures? No one said it.
I remember that in 2015, a business boss in Changzhou told me: "I am going to get 50 million and invest in 50 projects. As long as one of them is done, you can make 100 million." After
5, he invested in 50 projects, whether it is a loss or a profit. I don't know, I only know that he no longer posts to Moments and no longer shows up in the circle. I guess he has lost or lost.
Venture Capital can indeed make people rich overnight and make people have nothing. The pawn shop industry can last for thousands of years and has strong explanatory power. The first priority in doing business is to ensure capital protection. Only by keeping capital can you have the opportunity to talk about development.
Perhaps, because of this, there are so many century-old companies in Japan.
Author: Jiang Zuo Youan
