Question to : From penniless to worth 4 billion, he has struggled for more than 25 years; from 4 billion to the current detention, he only spent two years.
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In Yang Zongyi's heart, the most beautiful picture is that he went out into the wild with his mother, wife, and son, watching them play happily, and lying on the grass to rest...
When will Yang Zongyi, who is under forced detention, realize this dream?
On November 17, the Hanjiang Branch of the Public Security Bureau of Yangzhou City issued a message through its official WeChat account:
Jiangsu Fuxin Wealth Asset Management Co., Ltd. used high profits as bait to absorb funds from unspecified members of the society and was suspected of illegal fund-raising. Criminal suspects such as Xia Weiguo of Fuxin Company have been taken criminal coercive measures, and Yang Zongyi, the actual controller of Fuxin Company, has also been taken criminal coercive measures by the Nanjing Public Security Bureau according to law.
was on the Hurun Report in 2018, and Yang Zongyi was on the list, with a net worth of about 4 billion yuan. In 2019, Fuxin Group had sales of 85.4 billion yuan, ranking 72nd among the "Top 500 Chinese Private Enterprises" by the China Federation of Industry and Commerce; in December 2019, the list of the top 100 enterprises in Nanjing was released, and Fuzhong Group ranked number 5.
From 2015 to 2018, Yang Zongyi successfully entered the Hurun Report with a fortune of 4 billion yuan. But water can carry a boat and can also overturn it. As Yang Zongyi's desire grows infinitely, it will eventually usher in the backlash of capital.
01
Yang Zongyi was born in grassroots and lost his father when he was young. He started from Zhujiang Road in Nanjing and worked steadily all the way. From cycling and selling computers, he slowly became the top five companies operating computers in China.
Fuzhong Group started in 1995 and has gradually developed from an IT company to a company based on big data that spans "digital agriculture, big health, big real estate, big finance, smart cities, artificial intelligence, cultural creativity, and tertiary industries." Yang Zongyi is a large private enterprise group serving the eight major industries.
2003 was the first turning point in Yang Zongyi's life.
Yang Zongyi started from Zhujiang Road, but the glory of Zhujiang Road only stayed in a short time. Due to the serious homogeneity of the computer hardware industry, corporate profits began to decline. In addition, in the early 21st century, e-commerce developed rapidly. The real economy with single-category operations brings huge challenges and crises.
Fuxin Group, which focuses on the IT industry, also encountered challenges. The change method Yang Zongyi chose for Fuzhong Group is the same as most companies eager to change. Yang Zongyi chose the strategy of "walking on multiple legs" and quickly entered multiple industries in a short period of time. .
Fuzhong Group, which entered commercial real estate in 2003, bought the original Jindu Hotel in Xinjiekou for hundreds of millions of yuan, transformed it into Fuzhong Cyberport, and then gradually entered the medical machinery industry, industrial parks, real estate and other fields. This is in Yang Zongyi It seems that it is in line with Fuzhong’s development strategy of "no business instability, no trade, no real estate, no wealth. To me, real estate can bring huge profits, while chain stores and hotels have a lot of cash." . Merchants are chasing profits, and Yang Zongyi chooses to follow the market and follow the ticket.
In this year, Yang Zongyi's thoughts began to change quietly. Before 2003, Yang Zongyi had never borrowed a penny from a bank, but with the expansion of the capital empire, Yang Zongyi began to change his views: "The opportunities for access to capital have gradually increased, and only then has he gradually realized the beauty of capital management. As a business, the product is the lowest level, the brand is the higher level, and the capital operation is the highest level." At this time, Fuzhong Group did not know that it would lose blood due to blind expansion in the future, and gradually became accustomed to capital operation. Boss Yang, he will one day embark on the road of suspected illegal fund-raising step by step in capital operation.
02
September 2018 was the second turning point in Yang Zongyi's life. After that, the update of the WeChat official account of Fuzhong Group's external window began to gradually decrease, and the updated information also contained little substantive content.
And this was also the time when the Net Chuan Fuzhong Group had a capital turnover problem. The employee's salary was delayed or even half a year in arrears. The shortage of capital chain caused by
is also because of blind expansion-the development of digital agriculture.
At the beginning of the twentieth century, e-commerce developed rapidly. Yang Zongyi did not choose to get in the car, but chose to expand the industry and build a comprehensiveA business group, and in 2014, Boss Yang started his journey of exploring e-commerce.
"Xiao 6 Mei Xian", which came out in 2015, was placed high hopes by Yang Zongyi. Yang Zongyi, who started with the 3+3 model, placed his beautiful vision on the name of Xiao6. He hoped that Fuzhong could reproduce its glory through e-commerce.
However, doing e-commerce is not the same as selling computers.
was already occupied by Taobao and Suning at the time of 2C. It is not easy to make a breakthrough in this three-legged field. Although the gross profit of fresh produce is high, the 2C customer order price is low, the freight cost is high, and the shelf life is difficult. Control, resulting in uncontrollable profits, and the unfavorable situation of the small 6 fresh produce.
Therefore, Yang Zongyi chose to enter the B2B industry and optimize the end-of-product supply chain. Yang Zongyi saw the development of the agricultural supply chain. In 2016, Fuzhong Group acquired China Crab.com to create aquatic product supply chain platform "Xiao 6 Aquatic Product Network".
Fuzhong wants to build this platform into a trading platform for rivers, lakes, aquatic products and various imported aquatic products across the country. Subsequently, the digital agriculture of Fuzhong Group formed a matrix development model based on Xiao6meixian and 16 Aquatic Product Net and China Crab Bank.
However, on the way to build a B2B platform, Yang Zongyi was too hasty.
Xiao6 Aquatic Product Network has expanded too fast, resulting in uneven branch networks across the country. Due to the eagerness to obtain financing, Xiao6 is almost constantly recruiting platform members. At the same time, because the small 6 has moved the cheese of the middlemen in the aquatic product wholesale market, coupled with the high level of logistics required for aquatic transportation, in addition to building a digital platform, the small 6 also needs a huge logistics network as support.
Platform construction, supply chain, logistics, a series of issues related to the life and death of Xiao6, all require a lot of funds to support.
The funding problem has become the biggest obstacle to the development of the small 6 aquatic product network. In addition, the advantages of
and the small 6 have not been reflected, and under the impact of Alibaba’s Hema Fresh Food, venture capital companies cannot see the competitiveness of the small 6 nor the hope of making money. Almost no one is willing to give the small 6 6 Make investments.
In 2018, in order to seek a breakthrough, Yang Zongyi redefines Xiao6 Aquatic.com. He hopes to provide members with financial services through platform empowerment-providing members with loans, thereby attracting more members to join Xiao6 Aquatic.com.
However, the high membership fee is a high threshold, and even if some members pay the membership fee, they may not get the loan promised by Fuzhong, which makes the development of the small 6 fishery network further stagnated.
blindly enters a field that one does not understand, and focuses on an industry that one does not understand. This is the first explosion point that Fuzhong Group has encountered. However, the failure of the small 6 is not enough to make this huge group collapse. , More flowering, making Fuzhong Group more difficult.
03
Fuzhong Group has always had an inexplicable obsession with "walking on multiple legs". In addition to the diversified expansion mentioned above, Fuzhong Group's ambitions span the Pacific and Eurasia, establishing regional headquarters in 12 cities across the country. , And around the regional group, established branches and offices in 200 prefecture-level cities, in addition to the United States, New York, Rotterdam, the Netherlands, Tel Aviv, Israel, and Hong Kong, respectively, established four North America, Europe, Middle East and Asia InterContinental Headquarters has more than 30,000 employees worldwide, including nearly 1,000 overseas employees.
Yang Zongyi currently has 42 companies under his name, most of which are related to "Fuzhong", and involve many fields such as beverages, e-commerce, real estate, medical technology, logistics and transportation, international trade, aquatic products, and cultural media, forming a big root. The deep "Fuzhong" capital empire.
Yang Zongyi's role in the above-mentioned companies is roughly the same. Most of them are shareholders. In some companies, he holds the positions of chairman, executive director, general manager, supervisor and other positions to control power. The most important one includes Fuzhong Group Co., Ltd. with a registered capital of 210 million yuan. Yang Zongyi holds 95% of the shares as the ultimate beneficiary, and Yang Fenping holds the remaining 5% of the shares, and serves as the company's executive director and general manager.
In 2003, vigorous expansion and multi-industry co-development, the "burned" money did not produce money, the large amount of early capital investment, the follow-up funds are difficult to maintain, resulting in difficulties in the capital turnover of the project. At the same time, from the perspective of innovation and subversion, from a single industry standard setter selling 3C to a follower of the business model, Yang Zongyi willMy brilliance can only stay on Zhujiang Road, and wither with the past glory of Zhujiang Road.
Fuzhong has a number of headquarters across the Pacific and Eurasia. Only the headquarters in Chongqing and Wuhan have made some progress, while no substantial business progress has been made in other regions. Yang Zongyi’s "walking on multiple legs" has become a fancy way of tasting. Blind expansion has made Fuzhong Group not only fail to obtain funds for follow-up development through business, but also because of excessive expansion caused the break of the capital chain, causing Fuzhong Group to fall into " The dilemma of not being able to send out employee salaries. The most prominent feature of
is that the Fuzhong Group and Singapore Guoco Real Estate acquired a land of approximately 296,000 square meters in Gujiaying, Xuanwu Lake, Nanjing, at a price of 650 million yuan, which caused a sensation in Nanjing and called him the "Land King".
However, in the end, the construction of the land was stopped because of the contract. The idle time was 8 years. During these 8 years, the Fuzhong Group did not see any gains from this huge investment. Fuzhong Group chose to sell land to end this long loss.
At the end of 2019, Fuzhong Group became the focus of discussion due to wage arrears, and the failure to cash the principal and interest made Yang Zongyi a complete "old man"—In 2020, Fuzhong Group Sichuan Co., Ltd. was acquired by Chengdu The Chenghua District People’s Court of the city adopted measures to restrict consumption, restricting Fuzhong Group Sichuan Co., Ltd. and Yang Zongyi, the actual controller of the company, from engaging in high consumption and consumption behaviors that are not necessary for life and work. This time
exploded, so that the diversified development of Fuzhong did not breathe.
Fuxin Company was officially registered in Nanjing on February 17, 2014. It is a wholly-owned subsidiary of Fuzhong Group. This is a professional asset management company established in accordance with the market mechanism. However, at the end of 2019, the Internet The voices denouncing "Fuxin Wealth Management" also waved higher and higher. In just five years, due to the shortage of funds, Fuxin Company was unable to honor its promise to investors. More than 3,000 people put money into it. In the end, an "illegal fundraising" thunder exploded.
Yang Zongyi, who was up and down in the capital market, thought that he had penetrated the mystery of capital, so he chose to develop more points and lines, but unfortunately, Yang Zongyi did not wait until that day.
has struggled for more than 40 years from penniless to worth 4 billion; from 4 billion to now being detained, it only took him two years.
Reference materials:
1, Tianyancha
2, China Net Finance, "Nanjing Regal Yang Zongyi was arrested! A company with a net worth of 4 billion was suspected of illegal fundraising"
3, Beijing News, "Fuzhong Group's untrustworthy boss Yang Zongyi was issued an order to restrict consumption"
4, author of the Supreme Law Enforcement Information Network
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