71-year-old Hong Kong businessman Xing Li㷧 has three daughters. He has a daughter with his ex-wife Zhang Tianai and Xing Jiaqian. He has a daughter with his current wife Brigitte Lin and Xing Yanai. He has the same baby to his three daughters. In 2017, Xing Li㷧 gave his own Sijie shares with a market value of 900 million to Xing Jiaqian and Xing Ailin, each holding 50% of the shares. Don’t think that he is biased towards his youngest daughter Xing Yanai. When Xing Yanai was 18 years old in 2019, he included Xing Yanai on the list of shareholders of offshore companies. The three daughters held Sijie shares together, each holding 33.3%. However, the three daughters have only held shares together for a year. Before the Lunar New Year on January 10, 2021, Xing Li's three daughters sold all the shares they held and cashed out 191 million yuan. Obviously, this was a last resort, indicating that Xing Li's official farewell to Sijie, and Xing Li's farewell to Sijie was forced to retreat to a certain extent.
In 2017, Xing Li㷧 publicly transferred all his personal Sijie shares to Total Market Limited, a subsidiary of Xing Jiaqian and Xing Ailin, to attract great attention from the industry. At that time, Sijie was not yet at the end of his journey, but it was already full of holes. Xing Li㷧 transferred shares to his daughter at this time, in addition to showing his father's love for his daughter, it was actually regarded as giving up Sijie, which was equivalent to no longer paying attention to the development of this industry and letting him fend for himself. In fact, the market value of the shares held by Xing Li㷧 is not enough for him, who has a net worth of more than US$2 billion. Of course, he did not expect Sijie's decline to be so serious and rapid. It took only one year for his third daughter Xing Yanai to become a holder. Sijie couldn't hold on anymore, so he was forced to let his daughter sell stocks to cash out.
Sijie was once one of Xing Li's most proud industries. At its most glorious time, its market value was as high as 171.5 billion. I believe Xing Li's own regrets when it fell to its current situation. Sijie is actually the well-known retail brand ESPRIT. This brand was introduced to Hong Kong by Xing Li in 1972 and later became an agent in Asia. In other words, Xing Li in 2018 expanded ESPRIT's business to mainland China and Europe with one move. It can be described in this way that without Xing Li, ESPRIT would not have been popular globally later.
Xing Li㷧 listed Sijie in Hong Kong in December 1993, survived the financial storm of 1997, and then ushered in his heyday. In 2002, Sijie became the blue chip stock . In 2007, it reached its peak. The stock price reached 133 yuan and the market value was 171.5 billion yuan, becoming the leader in the industry. However, after the 2008 financial tsunami, Sijie began to decline and began to suffer losses in 2013. After that, there was no way to turn losses into profits. In 2020, Sijie had withdrawn from the Asian market, and a large number of stores were closed, with a loss of nearly 4 billion yuan. Xing Li㷧 left the market at this time, becoming the most helpless, but also a last resort.
Sijie is Xing Li's most proud performance. It is inevitable to regret leaving now. However, Xing Lijie has made huge profits through Sijie over the years. This is an indisputable fact. Xing Lijie is a businessman after all, and he has unique vision. When Sijie became a blue-chip stock in 2002, he had slowly withdrawn. Therefore, since 2002, he has sold his shares in Sijie 20 times, cashing out a total of more than 23 billion yuan. After that, he resigned from the group's board of directors and officially passed by in 2008. So coincidentally, Sijie began to decline.
Xing Li㷧 After Xing Li withdraws, Sijie has no relationship with him anymore. However, in 2012, because Sijie has a business problem, he wants to raise 5.25 billion yuan. Xing Li㷧 couldn't bear to finish the industry he developed by himself. He re-entered ESPRIT, involving 270 million yuan, and increased his holdings in Sijie shares through derivative tools, and this At its highest level, some of the shares had a market value of 900 million, but it was not worth mentioning to Xing Li㷧, so in 2017 he gave these stocks to his three daughters for the capital of the startup company. At first, he transferred all the Sijie shares he held to Xing Jiaqian and Xing Ailin, but did not give them to his youngest daughter because Xing Yanai was not yet 18 years old at that time. In fact, after Xing Yanai was 18 years old in 2019, she became the shareholder of Sijie shares.
xing Ailin and Xing Jiaqian
Unfortunately, even if Xing Li comes to save the scene, Sijie will not be able to escape the fate of going downhill, and the downhill speed is quite rapid, which makes Xing Lijie unexpectedly. The epidemic in 2020 is more like a catalyst, and Sijie is unable to turn over. Xing Li's sudden departure is not entirely because Sijie's development is in trouble again, but because of business. Sijie announced a right to provide the required funds for business growth in January 2021. This move is actually weakening the holdings of the three Xing sisters in disguise. If other shareholders refuse to offer shares, the shares of the right will be underwritten by the underwriter, and the holdings of the three sisters will be thinned, which is equivalent to forcing Xing Li's to take action. With Sijie's current situation and the major changes in the board of directors, Xing Li's to no longer offer shares, so on January 10, 2021, he asked his three daughters to sell all the shares of Sijie held. This move seems unexpected, but in fact it is helpless. It is equivalent to being forced to retreat, and he retreats unstoppable, thus annoying that the era of Sijie has come to an end.
PS: All pictures are from the Internet
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