Recently, Xu Jiayin has had a hard time. Since the explosion last year, he has either been interviewed or liquidated, and there has been no good news.
In July this year, the group headquarters - Hong Kong Evergrande Center, was officially sold to the public.
In 2015, the Xu family printed HK$12.5 billion to buy the building, setting a record for the highest purchase and sale of large-scale commercial buildings in Hong Kong at that time, and it was very glorious.
Now, in just seven years, it was bought at the bottom by Li Ka-shing for a mere HK$9 billion.
(Xu Jiayin)
However, even if it is a loss-making transaction, Xu Jiayin has no chance to do it.
htmlOn September 6, Evergrande Commercial Building was taken over by the lender CITIC Bank, and uses funds to offset the debt .
Xu Jiayin failed to sell the money, Li Ka-shing failed to pick up the bargain, and the bank was forced to take over, and all three parties were helpless.
As the Zheng family, who once spent a lot of money on Xu Jiayin and was as famous as Li Ka-shing, is probably the person in charge of the power of Zheng Jiachun , who is secretly sweating. Fortunately, he got out early and was not trapped.
In 2008, Xu Jiayin achieved great success in his business and was preparing to lead the group to impact the Hong Kong stock market and ring the bell.
Unexpectedly, God's will is unpredictable, and a financial crisis that has not been encountered in a century has blocked the listing process.
Xu Jiayin scratched his ears and looked for Wang Shi to help relieve financial pressure, but was ruthlessly rejected.
Fortunately, the noble man appeared in time in the circle of friends to solve his urgent needs.
founder of Emperor Yang Shoucheng led him to Zheng Yutong , and accompanied him to , drinking and playing cards.
Cheng Yutong is very optimistic about this promising young man and takes him to play "Ho Da D" with Liu Luanxiong , Zhang Songqiao and other Hong Kong Circle bigwigs.
(Liu Luanxiong, Xu Jiayin, Zheng Yutong)
After a few months, Xu Jiayin lost more than 20 kilograms, and his brand skills became more and more refined, and he successfully completed his mission.
With the strong support of Cheng Yu-tung, he received US$506 million in financing from institutions such as Kuwait Investment Bureau , Deutsche Bank and Merrill Lynch , successfully opening up the road to listing and ushering in a career peak.
Cheng Yutong also poured another basket of gold coins into his treasure house with this investment. His connections and business vision can be seen from this.
As a leading business figure in Hong Kong, he is known as the "Four Heavenly Kings" together with Li Ka-shing, Li Ka-shing, Li Ka-ki , and Guo Desheng , and is of great origin.
925, Cheng Yu-tung was born in a family of silk merchants.
He should have inherited his family property and became a rich second generation who did not have to worry about food and clothing, but his family was in decline due to the war.
After graduating from elementary school, he went to a financial bank in Macau to work. While solving the problem of living a life, he also won the glory and wealth.
Because the boss of this financial store is not someone else, but his own prospective father-in-law.
Receive the blessing of ancestors, Cheng Yu-tung and the boss's daughter are destined to be married long ago by the parents of both parties.
He married Zhou Cuiying, the daughter of the gold shop at the age of 18. At the age of 31, he inherited his father-in-law's family business and became the head of Chow Tai Fook Gold Shop.
(Christian Yu-tung and Zhou Cuiying)
At a young age, he has a net worth of tens of thousands of yuan. Cheng Yu-tung did not act as a son-in-law as a son-in-law, and wasted all over the country.
He created four nine-foot gold concepts to redefine the gold market and allow the Zhou family business to carry forward under the leadership of Zheng.
Four nine-four gold, which is what is commonly known as " thousand-four gold ", refers to gold with a content of 99.99%, with almost no impurities.
Before him, the gold on the market was generally only two nines, and some jewelry stores even had only seventy-eight-eight colors, with low purity.
Cheng Yutong's idea of creating enough gold was not only run by peers, but also did not support internal employees.
You sell your own money, how can you feel about other stores? The cost of purification is too high, will consumers buy it?
Violating industry rules is too risky and it is thankless, but Cheng Yu-tung has to do it.
He said: "The cost is hundreds of thousands more, just act as advertising."
So, what is the effect of this advertising ?
Cheng Yutong went against the crowd and spent a lot of money to create four nine-four gold.
for less than two years, without any additional publicity, Weekly Dafu gold became famous in major gold stores in Hong Kong and Macau, and even mortgage stores looked at it differently.
As long as it is gold minted by the Zhou family, the mortgage price will be automatically increased, because knowing that the gold in this family is definitely enough.
Cheng Yutong made a name for himself and achieved a profit of one million.
Then, he turned his attention to the woman's favorite - Diamond.
At that time, the world's largest and oldest diamond mining company was Delbys, headquartered in South Africa and monopolized the global market.
Classic advertising slogan: Diamonds are forever, and one is passed down forever, and it comes from this family.
Cheng Yutong wants to do a diamond business and must establish a relationship with this company and get a business license.
However, diamond king Liao Guichang has already taken the lead and holds the only entry card in the Hong Kong area, shining alone in the industry.
can’t get new ones, so I’ll find a way to make the old ones.
is just the right time. A South African diamond processing factory is looking for a new owner to take over due to poor management, and the price is astonishingly high.
There are many people who are interested, but they are persuaded to withdraw at a high price and cannot make a move.
Cheng Yutong bet on all his wealth, borrowed money from outside, and finally bought the diamond factory.
Just an ordinary processing factory, why is it so expensive?
Because it is not the factory that is valuable, but the 10 De Beers license plates sold in packages.
After this battle, Cheng Yu-tung instantly surpassed Liao Guichang and became the largest diamond merchant in Hong Kong.
At its peak, his family captured 30% of the diamond imports in Hong Kong and became the new " jewelry king ".
Cheng Yu-tung's love for diamonds has lasted for many years. He once bought a 507-carat South African naked diamond for US$35.3 million, which is extremely rare.
Son Zheng Jiachun also inherited his father's love and spent 490 million yuan at the auction to buy the largest pink diamond in history, named it "Chow Tai Fook Star", which is very high-profile.
In 2011, the group was listed on the Hong Kong Stock Exchange, becoming the world's largest jewelry company with market value and highest sales.
As he became one of the best in the jewelry industry, Cheng Yu-tung slowly got out of the limitations of the Zhou family and started his own new career.
In the 1950s and 1960s, Zheng Jiachun, who was still underage, was busy studying and went abroad to hone his skills.
Cheng Yutong is busy enclosing land, starting from scratch, and exploring the real estate industry.
1970, Cheng Yu-tung cooperated with his jewelry colleagues to establish the New World Development Company, which was involved in real estate, infrastructure, hotels, department stores and other industries, and his business territory became bigger and bigger.
982, the world's best-in-class New World Center was completed, including the New World Hotel and the Regent Hotel.
It is magnificent and luxurious, and has become one of the landmark buildings in Hong Kong. It is selected as one of the top ten hotels in the world. Its annual profit is 0 million.
Cheng Yutong's name has been added several times: the hotel king, the real estate tiger general, and the exclusive title: Sha Dantong.
Tiger father has no dog son, and his father has a shark gallbladder, so his son will naturally not be bad either.
Zheng Jiachun returned to China to join the company after obtaining a master's degree in business administration in Canada and directly served as the newly listed New World Group director, which was highly expected.
Next year, he served as the company's executive director and became one of the youngest executive directors among listed companies in Hong Kong, and was a complete successor.
1989, 43-year-old Zheng Jiachun took over the banner from his 64-year-old father and took office as managing director, and took a step further on the road to inheriting the Grand Principle.
(Christian Yu-tung and Zheng Jia-chun)
At this time, Cheng Yu-tung, holding the relief and peace before retirement, was ready to assist his eldest son behind the scenes.
He said: "Telection early and you can watch it from the side. When there is a problem and you need to go out, you can help him.
If you wait until you can't do it, you will be powerless when there is a problem. So don't be greedy for power."
Cheng Yu-tung was just humble and talked casually, but he didn't expect that his son would really cause a big disaster in the future and he really needed to come back to save the situation.
During the first practical operation, Zheng Jiachun did achieve some results.
Taking advantage of the spring breeze of reform, the Zheng family and his son went north to Wuhan to inspect projects and enter the mainland market.
In June 11991, Cheng Yutong lingered around Three Gorges of the Yangtze River and signed eight project contracts in one go. His bold and decisive personality was fully revealed.
The son Zheng Jiachun was not outdone. He visited the old place three months later and decided six agreements in a few days to increase the investment by 20 billion, and his heroism was first revealed.
But Zheng Jiachun said that the investment between the father and son is a stable type: it is not courageous, but the key is to have a correct vision.
He believes in the " golf " tactic: spend a long time aiming at the target, and then swing into the hole with fast and fierce movements, with the minimum number of strokes and the shortest time.
Zheng Jiachun's masterpiece is the host of the expansion of Hong Kong Exhibition Center , which is considered by him as the "most successful investment".
In order to welcome Hong Kong's return to , the government departments are preparing to build the second phase of the International Conference and Exhibition Center for the handover ceremony between China and the UK, which is of great significance.
At that time, the market economy was sluggish and the real estate industry was in a recession. Many real estate developers were unwilling to spend so much energy and money to carry out "face-saving projects", and they were not very active in bidding.
Zheng Jiachun seized the opportunity of this era and went around to do things. He spent 100 million Hong Kong dollars to show his sincerity by buying land. He spent billions of dollars in the past and after more than three years, it was completed perfectly.
997 On the evening of June 30, 2019, the return ceremony started.
, which has been cut off for more than 150 years, finally returned to the embrace of the motherland in the majestic national anthem with the five-star red flag slowly rising and the -meter-shaped flag slowly landing.
Zheng Jiachun was even more nervous than the Chinese soldiers who participated in the handover personally, and was so excited that he couldn't sleep all night.
The successful completion of this municipal project has become the highlight of Zheng Jiachun's career.
Hong Kong Convention and Exhibition Center was rated as the "Top 10 Best Projects in the World", making money and reputation for the Zheng family.
But soon, Zheng Jiachun lost all these achievements.
Cheng Yutong watched his son do one big thing after another, and felt very relieved. He just played cards with Liu Luanxiong and played ball with Li Ka-shing, and enjoyed his old age.
He complained that Li Ka-shing worked too hard and could not relate to his time.
Li Ka-shing will arrive at the company at around 8 in the morning, so he sometimes plays around 6 o'clock.
Cheng Yutong is very dissatisfied, and she hasn't gotten up yet.
After Li Ka-shing was busy at the company for a long time, Cheng Yu-tung walked into the office at 11 o'clock, and he didn't have to do anything, just be a guardian of Tai Sui.
Just when Cheng Yu-tung criticized Li Ka-shing for working hard and was better than being good at handing over the shift and delegating power, his son took more heavy punches to make him unable to relax.
(Christian Yu-tung and Li Ka-shing)
Zheng Jiachun is in power alone. After tasting the sweetness, he took action more decisively, and he is very arrogant to surpass the shark's courage and eat the bear heart and leopard's courage.
He spent hundreds of millions of Hong Kong dollars to acquire Ramada Hotel , Yong'an Group and other companies, and also bought Asian TV shares in joint venture with clothing king Lin Baixin , and soon he was in debt.
Zheng Jiachun's investment proposal has always been to fish for big fish in the long term, never paying attention to immediate interests, but only focusing on long-term returns.
The projects he handles start with a five-year return period, and emphasize patience.
But the mall is like a battlefield, and you can't win a battle with just a rock-stable patience.
The market is sluggish and the stock market is turbulent. It is impossible to wait for potential stocks to slowly incubate and cash.
Seeing that his family was about to be defeated, Cheng Yu-tung could not play the cards well or swing the pole, so he had to go out.
He sold a large number of properties at a low price and resold ATV shares to the Lin family to fill the gap, and put it on the battlefield, and persisted for more than 20 years.
ATV, which was abandoned by the Zheng family, has improved day by day under the management of Lin Baixin's son Lin Jianyue , with an annual profit of 12 million yuan.
is also the son who leads his career. One loses money and needs his father to clean up the mess, the other takes the lead and turns losses into profits. The difference is not an ordinary big one.
If Zheng Jiachun’s acquisition strategy is just “born at the wrong time” and has not encountered a good environment, it can be barely understood.
So, his behavior of getting involved with his father's friend's ex-girlfriend cannot be explained no matter what.
Entering the new century, Liu Luanxiong, who is known as the "female star sniper", suddenly changed his taste and lost interest in the beautiful Yingying Yanyan. Instead, he felt the unsightly intellectual woman .
Wang Yingyu, born in 1970, looks unsatisfactory, but she definitely can't rank on Liu Luanxiong's list of past beauty hunting.
She was able to successfully take over the position and act as Liu Luanxiong's new girlfriend, all relying on her talent.
Wang Yingyu, 19 years younger than Liu Luanxiong and 24 years younger than Zheng Jiachun. She is from a lawyer family and has a wealthy family.
She obtained the Chinese and English double lawyer qualification certificate at the age of 23, and entered Liu Luanxiong's Chinese real estate as an assistant.
In front of me, the office location was transferred from the office to the private bedroom.
Liu Luanxiong took her to various celebrity banquets and met Cheng Yu-tung.
Cheng Yutong is content with this junior who is calm and smirking, and is very impressed by the love and intelligence online. He thinks it is a talent, but he doesn't want it to be a disaster.
Later, Liu Luanxiong, according to his nature, fell in love with Wang Yingyu's best friend Lu Lijun , and waved his hand to break up.
Wang Yingyu is not a good deal. She asked for a breakup fee of 200 million yuan, but was rejected by Liu Luanxiong.
The two of them fought after the news, exposing each other's shortcomings, and revealed one after another.
(Liu Luanxiong and Wang Yingyu)
At this time, Cheng Yutong stood up and persuaded Liu Luanxiong, who was worried that Liu Luanxiong should not bully girls, while making Wang Yingyu almost the same, so that he could get together and part, calming the love farce.
Cheng Yutong didn't expect that his brother and girlfriend who had just persuaded him to leave turned around and wanted to be his daughter-in-law.
Zheng Jiachun inherited his father's foundation and did not do very well. He took over Liu Luanxiong's girlfriend, which was easy to take over.
He quickly sowed the seeds and gave birth to two sons with Wang Yingyu.
Cheng Yutong was so angry that she was not strong enough. When asked how she viewed the newly-promoted daughter-in-law, she looked angry and turned around and left.
On the other hand, his wife Ye Meiqing was very generous and said that as long as Zheng Jiachun did not bring the mistress into the house to usurp the power, everything would be easy to say.
It seems that wealthy wives have strong patience and can turn a blind eye.
My husband is not good enough and he has to rely on his children.
Zheng Jiachun and Ye Meiqing have three sons and one daughter. If you choose any one, you can have worked as wild children outside.
007, while his son was busy with Xiao Wang, Cheng Yutong appointed Changsun Zheng Zhigang as the executive director of the group's development, and the third generation successor took office in advance.
Zheng Zhigang was born in 1980 and is only 10 years younger than his second mother.
He graduated from Harvard University , holds a bachelor's degree in East Asian Studies Bachelor's degree in , goes to Japan to study cultural courses, love art, and has great ideas.
Two years after entering the family business, he created the "art and cultural business club" development model, combining art, humanities and natural elements.
stood out in the bleak situation of the overall environment and founded the K11 institution known as "the world's first art shopping center", injecting new vitality into the family business that has developed for more than 50 years.
(Zheng Jiachun and Zheng Zhigang)
The son is smart and capable, and his daughter is not inferior.
Zheng Zhiwen born in 1981, holds a degree in applied mathematics in Harvard and majors in economics.
Since 2009, she has been appointed as the head of the group's hotel business, supervising many of its subsidiaries, and has become increasingly prosperous.
In 2012, she married Pang Jianyi, the grandson of the Iron King Pang Dingyuan . The two big families married and became bigger and stronger.
This year, 87-year-old Cheng Yu-tung officially announced his retirement.
Although his own son was not good, Mr. Zheng still gave him face and did not pass the throne directly from generation to generation.
Zheng Jiachun was promoted to chairman and executive director, and still accounted for the majority, but he was appointed two strong alternatives in case of emergencies:
grandson Zheng Zhigang also serves as co-general manager, and granddaughter Zheng Zhiwen serves as executive director.
Cheng Yutong arranged everything, went home to accompany his wife, enjoy the peace and happiness, occasionally traveled, and spent the last four years of his life.
In 2016, Cheng Yu-tung died of illness at the age of 91.
In his father's obituary, Zheng Jiachun dared to add the names of the two illegitimate children to recognize their ancestors.
Transition phase is over soon, what you deserve is yours, not yours, and you will have to return it.
In May 2021, Zheng Jiachun resigned as chairman of the board of directors and was handed over to Zheng Zhigang to take over.
In an interview twenty years ago, Zheng Jiachun was asked if there is any pressure to do things with such high achievements from his father?
Zheng Jiachun's answer is a bit Buddhist: Just try to do it, it doesn't have to be successful, the key is to do it well.
He also said that you should not be too soft-hearted in business, but he is just a soft-hearted person, especially in terms of emotions.
So, although he was influenced by his father since he was a child and wanted to be a successful businessman, the results showed that he was indeed a bit short of time.
In comparison, his son Zheng Zhigang is more innovative and explored, unique, and has the courage to be the helmist.
In view of the increasing tension in residential land in Hong Kong, Zheng Zhigang announced a vigorous cooperation with non-profit organization to donate his own 28,000 square feet of land with a symbolic rent of HK$1 to build social houses and win the favorable impression of people's livelihood.
Taking advantage of the clothing brand Giordano 's losses for years and its market value plummeted, Zheng Zhigang invested 2 billion yuan, acquired more than 2,000 stores, privatized it, expanded diversified industrial chains, and personally took over the directors of the new company.
The traditional money-making field has been almost fully developed by the predecessors, and Zheng Zhigang turned his attention to his own expertise - art.
K11 Art Company, which he founded himself, achieved profitability in the first year of its opening.
At the worst time of the epidemic, the company's sales continued to grow steadily, outperforming the overall performance of Hong Kong's retail.
(Zheng Zhigang)
He took the lead in preparing for the reconstruction of Cao Xueqin's former residence memorial hall , promoting Chinese culture, tracking traditional craftsmanship, and was praised by a large number of fans of the Red Chamber.
He invited his friend Jay Chou to personally design the scene arrangement for the exhibition, fooling him into the performance costumes and antique pianos that Jay Chou privately collected, accurately grasping the preferences of young people and having a lot of cards.
He plans to spend ten years to renovate Hong Kong Avenue of Stars , build more Hong Kong-style landmarks, align with world culture, and build a center for cultural exchanges between China and foreign countries, with great ambitions.
In September 2022, Zheng Zhigang was awarded the "French National Medal of Merit and Honor" to commend his efforts in promoting cultural exchanges between China and the world.
Now, the Zheng family, with the efforts of the three generations of bigwigs to fight the country and the juniors to defend the country, has ranked among the top three in the Hong Kong rich list, with a net worth of US$26.4 billion, and is still in glory.
(Zheng Jiachun, Cheng Yutong, Zheng Zhigang)
Thinking about the beginning, Cheng Yutong spent 1.8 billion to buy 6 pieces of land in Hainan, and wanted to make some money by developing and building a house.
But I was in a different place and it was inconvenient to supervise the work, so I kept putting it on hold.
Ten years later, he was ill and handed over his family business to Zheng Jiachun to rest with peace of mind.
Zheng Jiachun was honest and thought that these lands were too wasteful in his hands, so he sold them to Xu Jiayin, who was as powerful as the top in his arms, for a friendly price of 8.6 billion yuan, with a net profit of 6.8 billion yuan.
also packaged some of the group's projects to Xu Jiayin, cashing out tens of billions and leaving.
Zheng family therefore by chance and promptly pulled themselves in the upcoming vortex.
In the mall, sometimes I missed opportunities, but I just made less money.
But once the wrong bet is placed, the score will be lost and it is difficult to turn over.
Although wealth and honor are in danger, whether it is an individual or a family, only by seeking progress in stability can one stay invincible for a long time.
Author: Zhu Xiaolu & Wenshan
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