Legend of Xiangjiang Tycoon

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But Li Guowei had just raised this lofty ambition, but was ruthlessly crushed by reality.

There is no other reason. Yulong Bank took advantage of the opportunity of the Xiangjiang crisis to fight left and right in the market, squeezed out Hang Seng Bank, and became the third largest bank in Hong Kong.

This surprised Li Guowei, because the previous Yulong Bank was not well-known.

How can Li Quowei bear it if he surpasses Hang Seng Bank all of a sudden.

And Li Guowei knew that once he was overtaken by Yulong Bank, he would have no hope in the future.

Because as a banker, Li Guowei is well aware of Li Zhiwen's horror. This guy's industries are all over Hong Kong, and Hang Seng Bank can't compare with them.

Even though Hang Seng Bank has HSBC as the big benefactor behind it.

At this time, Li Guowei happened to see that the Xiangjiang textile industry collectively squeezed out Qilin clothing.

Li Guowei just shook his head before. After all, in Li Guowei's opinion, unicorn costumes are really tasteless, which can't beat Li Zhiwen.

Knowing the arrival of Li Zhaoji of Henderson Land and Zheng Yutong of New World, Li Guowei saw hope.

Li Zhaoji and New World put forward a new idea and pulled He Shaoheng into the water.

And He Shaoheng has retired, Li Zhaoji and Zheng Yutong have nothing to say, so they found Li Guowei, hoping to find inspiration from him.

Of course Li Guowei knew He Shaoheng's weakness, and that was Hengchanghang.

Ye Zhicheng, a native of Dongguan, Guangfu, whose ancestral home is Shilong Town, Dongguan, Guangdong, is the general manager of Hengchanghang.

It is difficult to engage in industry in Hong Kong, but it is even more difficult to make your own brand in the industrial field. Hong Kong is an international financial, trade and logistics center. The proportion of industry in its GDP is less than 6%, and the number of employees is less than 200,000. In Hong Kong's stock market, the price-earnings ratio of industrial stocks is much lower than that of financial and real estate stocks. It is a "second-rate industry".

In 1971, Ye Zhicheng, the founder of the group, and his younger sister Ye Fengjuan named "Hengchanghang" in a small store covering an area of ​​only 40 feet in Xiyingpan, Hong Kong. Since then, Ye's Chemical started the earliest petrochemical business.

The initial business model was to buy large barrels of chemical raw materials, and after packaging them, they pushed bicycles to "walk the streets" from factory to factory... The sales volume of the first business was 4,080 Hong Kong dollars, and this first business was He Shaoheng made.

After getting acquainted with the factories, Ye Zhicheng soon discovered that these factories consume a lot of thinner water (banana water) every day, so they started to do thinner water business; and later discovered that these factories use thinner water to blend paint There are often problems of one kind or another, and due to limited conditions, it is often difficult to distinguish which link the problem lies in.

The clever Ye Zhicheng then went to the person in charge of the factory and said, why don't you just get your paint from me, so that if there is any problem, you can just come to me.

Relying on the reputation accumulated before, many customers accepted this suggestion, so Bauhinia paint was born in the market...

There is no lofty ambition, no grand blueprint, but relying on his keen market sense, the founder actively tried and firmly grasped every market opportunity, and with the entrepreneurial purpose of "diligence can make up for weakness" and "sincerity can win trust", Constantly making progress, Hengchanghang also began to grow gradually.

In 1991, Yip's Chemicals was successfully listed in Hong Kong, which brought Yip's Chemicals into a new stage of development—from a family business to a listed company, the mentality of the three Ye's brothers and sisters also changed a lot. On the one hand, they succeeded gradually change to the role of an enterprise manager, learn about the outside world with a more open mind, and accept opinions and opinions from various sides; Adjusting the corporate governance structure and establishing a scientific management system have made the company's operations more standardized and efficient; and the status of a listed company has made Yip's Chemical Group's financing channels much smoother, thus gaining more development opportunities and partners.

However, after the listing, more money and more opportunities made Ye's Chemical "lost" for a while.

At the beginning of its listing in 1991, with sufficient funds, Yip's chemical business had experienced a trend of diversification, and the group set foot in business fields such as trade and storage tanks.

This made the company's debt ratio once exceeded the warning line of 100%. In order to solve the problem of excessive bank debt, the company's managers began to reflect, and in 1996 the company began to reorganize its business, and divested some businesses unrelated to the main chemical industry.

For example, the divestiture of the trading business, although the group's chemical trade accounted for 30% to 40% of the company's business in 1996, Ye Zhicheng resolutely divested it in consideration of its ups and downs that would affect the stability of the entire group.

Many people were puzzled by this act of "a strong man cut off his wrist", but it just helped Yip's Chemicals to escape the subsequent catastrophe. In the coming financial turmoil, the danger of corporate bankruptcy due to excessive debt ratios has been effectively avoided.

Because of this, after the storm, Mr. Ye Zhicheng summed up his experience and solemnly put forward the slogan of "focus on the industry". He said: "Without the business reorganization in 1996, we might not have survived the financial turmoil, and we might not have the development of Yip's Enterprises today. Or it will collapse in one or two years. The most important reason is that its development has deviated from its own industry and entered an area that it is not familiar with. Therefore, the most important thing we have summed up our years of development experience is: focus on our industry !"

1997 was an extraordinary year for Yip's Chemicals. In this year, Hong Kong returned to the motherland; in this year, Mr. Ye Zhicheng put forward the slogan of "focusing on the industry"; in this year, "Yip's Chemicals", which experienced the financial turmoil, entered a five-year adjustment period.

First of all, in view of the fact that Bauhinia Paint was cooperating with local partners to build factories in many areas in the mainland at that time, due to the lack of unified planning and management, they fought on their own, resulting in the unfavorable phenomenon of competing for the market and competing with each other. Yip's Chemical decided to withdraw Decentralized management rights. So far, Bauhinia paint has achieved unified management and brand promotion across the country, and has entered the right track of rapid development.

Secondly, within the past five years, Yip's Chemical has clarified the strategy of "focusing on the mainland market".

Yip’s Chemicals continued to expand factories in the mainland for a period of time after its listing, and targeted Taiwanese and Hong Kong businessmen as customers. However, after 1995, the development of such customers slowed down significantly. Many new factories invested by Yip’s Chemicals There is a phenomenon of "not enough to eat", and the prospect of business development is unclear.

At the same time, Yip's Chemicals also tried to explore overseas markets, setting up factories in Vietnam, Malaysia, the Philippines and other places, and also set up a trading company in Singapore, but the subsequent development was not satisfactory.

Mr. Ye Zhicheng's younger brother, Mr. Ye Zixuan, the vice chairman of the group, submitted an analysis report after inspecting the Vietnamese market at that time, clearly analyzing the market situation: "Vietnam is a market with potential, but it is not the market today. Compared with the mainland Huge market space, the Vietnamese market is too small; moreover, most of the competitors are overseas Chinese, who are more experienced and good at doing business in Southeast Asia.”

Therefore, after 5 years of sorting out and recharging energy, Yip's Chemicals has gradually defined its development direction, concentrated its efforts on the Chinese market, and actively adjusted it to gain momentum.

In 2001, after the adjustment period, Yip's Chemical Group encountered the test of the financial crisis again. But this time, with a clear development direction and a steady market strategy, the company not only survived the crisis smoothly, but also effectively improved the competitiveness of its main business through the elimination of the weak and retained the strong in the market, and achieved steady and rapid growth as a whole. . So far, Yip's Chemical has officially entered the fast lane of development.

By 2005, when Li Zhiwen traveled through, the total number of employees of Yip's Chemical Group had reached nearly 5,000, and the market value had reached HK$5 billion. Ten billion Hong Kong dollars, I believe the company's market value will further increase.

When talking about the secret of the company's success, Mr. Ye Zhicheng, the chairman of the group, said: "As the oldest employee, I deeply feel that in the past 40 years, the most important factor for our success is first of all 'people and Two words. I am so fortunate to have received help from countless people in the course of starting a business, especially our management team, and many, many colleagues have joined hands with each other and worked hard together. Therefore, we pursue humility and Trustworthy; internally, we regard employees as the lifeblood of the company, respect and care for them. At the same time, we also advocate a "small boss" system and culture within the company - through the implementation of the award plan, the performance of each employee is regularly assessed, Encourage employees to become the small bosses of the enterprise, devote themselves to the operation of the enterprise with the focus of the small bosses, and link their personal interests with the interests of the enterprise. Another important factor of our success - "thirst for talent", that is, regard talents as the most important asset of the enterprise One of them, Lixian Corporal, uses his talents according to his ability, and strives to provide our employees with a fair, relaxed and promising career space, looking forward to obtaining the best balance and win-win results between enterprise development and employee growth; we also always uphold With the belief of "concentration", we have worked hard in the chemical industry with a dedicated and professional attitude. Since its establishment nearly 40 years ago, it has only been engaged in the core business of producing and selling solvents, coatings and lubricants, concentrating our strength on what we are best at and the most Familiar areas. Experience also shows that because we focus on one business, we must look at the long-term, and long-term strategies can often balance current decisions, thus leading us to overcome economic difficulties one after another.”

Regarding the interview with Huaxia Industrial Daily, Ye Zhicheng said that he was very moved. It is not easy to maintain the manufacturing industry (industry) in Hong Kong. Mr. Yip has been working in this industry for 35 years and won the Hong Kong Young Industrialist Award. May I ask, what is the inner motivation that supports you to gain a foothold in the industry for a long time?

Ye Zhicheng: Frankly speaking, I have never considered this issue. As a free port, Hong Kong people have more opportunities, and the price-earnings ratio of industrial stocks is relatively low, so there are not many people in the industry. However, regardless of the real estate frenzy or the stock market boom, I never thought about leaving the industry. Everyone's pursuit is different.

I have been in the manufacturing industry since my first career as a young man. In this industry, I have devoted all my youth and hard work, and never thought of leaving to engage in other industries.

Thinking about this question now, I think it is the joy and satisfaction of the work I do that makes me stick to it for thirty-five years.

Over the past thirty-five years, even when the financial turmoil was affected, we have developed steadily, and I feel very satisfied in my heart. When I see the steady growth of the company's performance and the establishment of modern factories in various desolate places in the mainland, I will feel sincerely happy. I think that's why.

This year, the "Bauhinia" paint under Yip's Chemical Group won the title of "China Famous Brand Product"; it was selected as one of the top 200 Asian companies by Forbes. May I ask what is special about Yip's Chemical Group's outstanding achievements?

Ye Zhicheng: Apart from being happy to receive these honors, I feel more pressure and responsibility. The brand "Bauhinia" was founded in 1982 and named after the city flower of Xiangjiang, which is very popular among people. "Bauhinia" paint can be awarded "China Famous Brand", which is not only the honor of Yip's Group, but also the honor of Hong Kong industry and Hong Kong people.

China's top brands have to be reviewed every three years. We must cherish this honor and can only do better.

There is nothing special about us. The grand plan of Yip's enterprise is to focus on the industry. Perhaps this is a particular reason for our success.

I have been engaged in this industry for more than 30 years, and I have been specialized and refined, so I naturally do a little better.

In the process of development, Yip's enterprise has deviated from the principle of focusing on its own business: when it was listed in Hong Kong in 1991, the business of the group showed a trend of diversification, and also engaged in trading, storage tanks and other businesses, which deviated from the main business.

As a result, our debt ratio reached the warning line of 110%. In order to solve the problem of excessive bank debt, we started business restructuring in 1996 and divested some businesses unrelated to the main business one after another.

After simplifying and highlighting the main business, Yip's debt ratio has dropped to below 40%.

In this way, when the financial turmoil comes, the danger of bankruptcy due to the high debt ratio of the enterprise is avoided!

Affected by the financial turmoil, from 1996 to 2001, although the group was generally profitable, it fluctuated greatly. After five years of business reorganization, by 2001, we not only survived the financial crisis relatively smoothly, but also improved the competitiveness of our main business, and the group business achieved steady growth.

In retrospect, if there was no business reorganization in 1996, it would be difficult for us to survive the financial crisis! Perhaps there would be no development of Ye's enterprise today.

Summarizing our 35 years of experience, the most important point is: it is very important to focus on the industry! During the financial turmoil, many Hong Kong companies crossed in three to five months or one to two years. The most important point is that they deviated from their own business and entered unfamiliar fields.

In order to remember this experience, on October 25, 2001, on the 30th anniversary of the company's establishment, the name of the group was officially changed to: Yip's Chemical Group Co., Ltd., to indicate that the group started in the chemical industry 30 years ago, and will continue to Forever in the chemical industry.

But Ye Zhicheng said so much, it can't be ruled out that he is only the chairman of Hengchanghang, but not the major shareholder of Hengchanghang.

It all started with the takeover battle that year.

In 1978, the Rong family took refuge in relatives in Hong Kong and came to Hong Kong alone.

Soon, his wife, eldest son and daughter came to Hong Kong for reunion. In 1983, the third son was born.

Rong's father held some textile stocks in Hong Kong. It turned out that these textile factories were in Shanghai. On the eve of liberation,

Moved to Hong Kong.

Rong's father never touched the dividend, and after nearly three decades of growth, the textile stocks are worth a fortune today.

However, Hong Kong's textile industry has entered a sunset stage, and the Rong family resolutely sold shares to cash out, and used the capital to start an electronics factory with his party members.

Rong was appointed as the factory manager, and the products were sold to the mainland, and the business was booming day by day. Rong's shares increased from one-third to sixty percent.

This electronics factory was acquired by an American businessman at a high price. The Rong family didn't feel the melancholy of losing the country at all, "The price is okay, why not do it?"

If this unlisted private company wants to protect it, it has to be safe, but Rong's is not like this.

Rong's took two million US dollars of funds and made a pioneering investment in the United States—Venture Capital, which is engaged in computer-aided design. The investment was right, and it was listed in the United States in 1984, becoming the first such company in the United States to go public.

The Rong family accepted it as soon as it was good, and unexpectedly sold the equity, and got back 48 million US dollars equivalent to 370 million Hong Kong dollars. In addition to the 56 million Hong Kong dollars recovered from the sale of the Hong Kong electronics factory, Rong's net worth already More than 400 million Hong Kong dollars.

In six years, the capital has been doubled many times - it can be seen that the Rong family is a good material for doing business, and it can also be seen that success can only be achieved through hard work.

Of course, without his father and overseas relatives, his career would not have been so smooth.

Among the new immigrants, there is no shortage of business talents. They are all clinking with poverty. Where can they get start-up capital and high-value loans?

Rong gave up his ambition of becoming a computer tycoon in the United States and returned to Hong Kong to develop. Many people expressed his intention to make a big splash in CITIC, which was founded by his father.

In October 1979, CITIC was established in Beijing. The chairman paid for a room in the hotel to use as an office. There were only a dozen members, and there was no bus. Employees rode bicycles or crowded buses when they went out to do errands.

By 1993, according to media reports, the group headquarters in the capital building on the 52nd floor was headquartered in Beijing.

With assets of 50.7 billion RMB, it has 30 subsidiaries, nearly 30,000 employees, and more than 600 investment companies.

Heung Kong Company is an important part of the group. In 1980, the group established an investment institution in Xiangjiang.

In 1985, an investment company was registered and established in Hong Kong.

This year, the Rong family lived in Hong Kong for 7 years and became a permanent resident of Hong Kong.

Rong has sold his company and came to the Hong Kong branch to help with investment planning.

He can be regarded as the "old Hong Kong" of the company, and he is a successful businessman. He is familiar with the market and people in Hong Kong, and he can speak English and Cantonese. Obviously, he is more popular than some people who come directly from the capital.

In 1986, many people in the group suggested that Rong's formally join.

The Rong family does not have to join the group, he has the ability to run a company independently, make money and spend it on his own, without being restricted by any official organization.

Therefore, Rong proposed conditions. First, he should form a cabinet and select talents; second, he should be given considerable power without having to report everything.

Rong's request was approved by the board of directors, and Rong officially joined the Hong Kong branch as a director.

In 1987, Rong took over as managing director.

The rapid expansion of the Xiangjiang Branch depends on a series of successful acquisitions.

In February 1987, the Hong Kong branch purchased a 12.5% ​​stake in Cathay Pacific Airways for HK$1.3 billion.

Compared with the subsequent acquisition battle. This is just a small test of the Rong family.

The Rong family recharged their batteries and actively searched for a suitable shell.

This shell is Taifu Development. Its predecessor was Xinjingfeng Development founded by Feng Jingxi, which was transferred in 1986. In 1987, it was controlled by Cao Guangbiao of Yongxin Group. Cao was the chairman and owned 50.7% of Taifu.

Cao Guangbiao is the king of woolen textiles in Hong Kong. In 1986, when he was hotheaded, he recruited Pao Yukang to join the "Rejuvenation of the National Aviation Industry". Unexpectedly, Dragonair became a financial black hole, which made the Cao family in a state of distress. He intended to sell Taifu as a shell.

The Rong family hired acquisition expert Liang Botao and Jufuqin founded by Du Huilian as consultants, and negotiated privately with the Cao family.

In January 1990, Xiangjiang Branch announced the full acquisition of Taifu, buying 50.7% of Cao Guangbiao’s equity in Taifu at a price of HK$1.2 per share, totaling 308,000 shares, and buying shares of minority shareholders at the same price.

With a market capitalization of HK$725 million, Taifu is a small listed company investing in real estate.

After the acquisition went through a complicated stock exchange and share increase, in June 1991, Taifu issued new shares, raising 2.51 billion Hong Kong dollars, and Guo Henian and Li Jiacheng subscribed for the new shares.

The equity distribution of Taifu is: Xiangjiang Branch 49%, Guo Henian 20%, Li Jiacheng and Cao Guangbiao 5%, and the rest are public minority shareholders.

Taifu changed its name to CITIC Pacific, and its branch went public through a back door, raising more than 2.5 billion Hong Kong dollars, and brought in such business giants as Guo Henian and Li Jiacheng to support it, which attracted the attention of the stock market.

Rong Shi is the chairman and general manager of the company.

The group has stepped up to a higher level, from an investment company to a comprehensive company integrating investment management.

The first battle after the establishment of the company was the acquisition of Hengchanghang.

In May 1991, Beiyi Company entrusted Dolly Finance Company as a representative to propose a comprehensive acquisition to Hengchang, with a price of HK$25.4 per share, involving HK$5.6 billion, which was the largest in the history of the Hong Kong stock market. battle.

Beiyi has a strong strength and is composed of Zheng Yutong from Chow Tai Fook, descendants of Lin Bingyan, the first chairman of Hang Seng Bank, and Xu Zhantang, chairman of China Paint.

The three signed an agreement, Chow Tai Fook got the property, Lin's descendants got the car dealership, Xu Zhantang got the trade of grain and oil.

The acquisition was rejected by Hengchang's major shareholders. First of all, they did not agree with the new consortium Beiyi's attempt to carve up Hengchang into three parts.

If the major shareholders don't cooperate, Beiyi can't reach the absolute number of more than 50% no matter what.

Zhongtai, Guo Henian, Li Jiacheng, and Peregrine formed a new consortium ..GreatStyle, and discussed acquisition matters intensively. Later, Zheng Yutong and others joined in.

So at the beginning of August, he proposed a comprehensive acquisition to Hengchanghang, with a price of 33.6 Hong Kong dollars per share (8.2 Hong Kong dollars higher than Beiyi), involving a capital of 6.94 billion Hong Kong dollars.

Zheng Yutong's defection forced Lin Xu to form an alliance to compete with ..GreatStyle.

The key now is the attitude of Hengchang's major shareholders. He's old and his descendants are not good at trading. He Shanheng has helped the Rong's, and GreatStyle has come to fruition.

GaratStyle share distribution, Zhongtai ..35%, Li Jiacheng ..19%, Chow Tai Fook ..18%, Peregrine 8%, Guo Henian's Kerry Trading ..7%, Rong's Private ..6%, Ho Houqiang Brothers. .4%. to.. September..

On the 22nd, the New Consortium acquired ..68% of Hengchang's shares, and the new share options were distributed according to the shareholdings of each company.

To deal with this acquisition, Zhongtai raised 2 billion Hong Kong dollars through allotment of shares.

After the completion of the acquisition, Zhongtai's market value swelled to 8.7 billion Hong Kong dollars in early 1992.

At the same time, Zhongtai’s third large-scale allotment raised 2.5 billion Hong Kong dollars. It took a two-pronged approach to purchase the remaining shares of Hengchang and purchased 7.84% of Dragonair’s shares. Zhongtai’s market value further expanded to 11.45 billion Hong Kong dollar.

In January 1993, Zhongtai issued 550 million new shares for the fourth major fundraising, at 13 Hong Kong dollars per share, raising more than 7.2 billion Hong Kong dollars. Acquisition of 12% equity of Hong Kong Telecom from the parent company CITIC Hong Kong, involving a capital of 8.7 billion Hong Kong dollars.

In mid-1993, the market capitalization of Zhongtai once again expanded to 28.5 billion Hong Kong dollars, ranking the fourteenth among the twenty largest listed companies and becoming the leader among red-chip stocks.

The Hong Kong branch went public through a back door, giving full play to the functions of the stock market, and raised funds of 14 billion four times, increasing the market value of Zhongtai by 60 times. It is known as the fastest growing company in Hong Kong.

Stock critics said that the Rong family's greatness is not to let him be his father.

Talking about business is a cliché in the Hong Kong business community. As a mainland company, talking about business is not so easy.

First of all, most of the management of mainland companies cannot adapt to the capitalist management mode conceptually;

Secondly, the personnel affairs are complicated, and there are too many internal conflicts. Due to the huge difference in salaries and benefits in Hong Kong and the mainland, everyone wants to come to work in Hong Kong.

People in the group generally believe that the second generation leaders of the group are Wang and Rong

Wang is the vice chairman of BJ Group. He believes that Rong's ability can be the managing director of the Hong Kong branch.

At that time, this position was held by Mi Guojun.

He is an old man who has been engaged in foreign trade diplomacy for many years.

In order to acquire Cathay Pacific shares, the group has caused controversy.

Cathay Pacific is an airline with a monopoly position in Hong Kong, with considerable profits. If Cao Guangbiao hadn’t launched a battle for air supremacy, Swire’s Swire family would not have taken the “Chinese-funded route”—selling part of the equity and letting outsiders get a share of this cornucopia .

This is what everyone in the Hong Kong business community dreams of, but the board of directors of the Hong Kong branch disagrees.

Obviously, if we follow Rong's proposal, it is tantamount to fulfilling the British-owned Cathay Pacific, and counterattacking the Chinese-owned Dragon Dragon. In this way, is the group really a Chinese group? Or the British bloc?

Assuming that the fetus was stillborn, Rong worked hard for half a year before finally succeeding.

In February 1987, Xiangjiang Branch completed the transaction with Cathay Pacific Airways.

After the transaction, Rong was criticized by many people. However, the Hong Kong business circles say that the Rong family is the real winner of the national car and Hong Kong Dragon's hegemony.

In 1987, the company was reorganized, Mi Guojun retired, and Rong succeeded him as the managing director.

Every time the branch company expands, there are always many people with backgrounds coming.

The Rong family also encountered this situation. Long-distance phone calls or handwritten recommendations kept pouring in. The Rong family blocked them one by one and boldly used local professionals in Hong Kong.

"If you work in Hong Kong, you have to rely on Hong Kong people."

"Business is all about interpersonal relationships. Don't ask Hong Kong people to learn to speak Mandarin. Many people can't even understand it. If you want to come here, you can't speak Cantonese or English."

Criticism poured in from all directions, saying that the Rong family was involved in the Xiangjiang Gang.

Rong’s “willing to go his own way”, he said: “After I took office, I hired many experienced professionals, most of whom are locals. At present, only about 20% of the branch’s staff are from the Mainland, and this proportion will continue to decline.”

Before Rong's acquisition of Taifu, CITIC Hong Kong owned 70% of Ka Wah Bank, 12% of Cathay Pacific Airways, 24.5% of Eastern Submarine Tunnel; 20% of Macau Telecom, 33.3% of Asia Satellite Communications, and some property investment projects. Most of these were "fixed" by Rong himself or urged.

The Rong family finally had a company that "has the final say." His business ideas were brought into full play, and the Xiangjiang company that cooperated with the branch company was not Chinese-funded, but British-owned and Chinese-owned.

The Rong family is only the vice chairman and general manager of the Hong Kong branch. It is said that Rong's father warned his son not to pursue fame and power, but to actually do business.

In just a few years, the market value of the branch run by Rong has increased by more than 100 times.

According to the "Capitalist" magazine, the branch is the first listed company in China, and ranks 34th among the top 100 listed companies in East Asia.

In 1992, the total turnover was US$1.183 billion and the net profit was US$134 million; in 1993, the total turnover was US$1.488 billion and the net profit was US$243 million; By 1993

Based on the closing price on December 31, its market value was 5.9 billion

Nine thousand seven hundred dollars.

Rong achieved his goal of "scale and efficiency".

The Hong Kong branch is only a holding company, while Zhongtai is the entity, which is the largest of all subsidiaries of the group.

Rong's annual salary as the chairman of the branch company's board of directors was disclosed by the Hong Kong media as two million Hong Kong dollars. But this is just the tip of the Rong's personal wealth iceberg.

The new consortium with CITIC as the core acquired Hengchang. Due to the huge capital, Zhongtai could only acquire 36% of Hengchang’s equity, involving HK$2.5 billion, of which HK$2 billion was raised by Zhongtai’s new shares, and the other HK$500 million It is a loan.

The remaining unacquired shares will be contracted by each company. Among them, Li Jiacheng was the most, and Rong Zhijian personally bought 6%, a total of 1,225,000 shares. Rong Zhijian's private contribution amounted to HK$500 million.

This money was originally obtained by Rong Zhijian from selling a private company. After several years of reinvestment, it has exceeded 500 million Hong Kong dollars.

Rong later pointed out in a conversation with reporters: "You can't ask me not to invest. I have assisted the Hong Kong branch to increase its assets from 250 million Hong Kong dollars to almost 25 billion Hong Kong dollars. Why can't I invest my own assets?" Double, how many times? But I have a limit: whose money should be, it is whose money, I don’t earn.”

Someone said that the Rong family should open a private secret account.

Rong's doing this is tantamount to giving someone a handle. If he asks Liu Daifeng to buy it for him, there will be no trouble.

Why didn't Rongshi do that? Maybe he thinks that his money is "clearly sourced", and even more that "money is justified".

According to people in the business media who have been close to Rong, Rong is more like a businessman.

Only businessmen think that seeking personal gain is justified.

Hong Kong media included Rong Zhijian of the branch company in the rich list and chaebol list.

Hong Kong's Hong Kong Economic Journal has a comment like this under the item "Rong's Branches":

"The branch company is a unique group company with both the characteristics of a chaebol and a background. Under the leadership of Rong, the reference room of this newspaper decided to list it as a chaebol because CITIC Pacific behaved more like a chaebol than with a background. In the evaluation, it became the ninth largest chaebol in Hong Kong. In 1994, CITIC Pacific, the first company with a Chinese background, broke into the top ten chaebols in Hong Kong. After 10 years and 8 years, the possibility of such companies becoming the top ten chaebols has increased significantly. As long as Join the competition according to the capitalist game method, and the coronation is not difficult to succeed."

Rong claimed that he is a new generation of rich people in Hong Kong, and he likes to pursue the life of the rich. His frankness has won the favor of Hong Kong reporters.

Mr. Wenxi said in the article that Rong, "He does not deny that he likes to drive fast cars, lives in a comfortable house, owns real estate properties in Canada and the United Kingdom, and has yachts, many sports cars and RVs, high-end audio in Hong Kong, and also collects antiques, calligraphy and paintings. In addition, he also likes golf, fishing, horse racing, and likes to live a good life, and he has been like this since he was a child."

Rong Zhijian's horse named Tianhuang was bought by him for more than one million Hong Kong dollars in 1993. From this, he became the owner and member of the Royal Jockey Club.

On October 31 of that year, lucky stars shined brightly, and Rong Zhijian played horses and won a prize of 37 million Hong Kong dollars.

Rong's mansion in Vancouver, Canada, is even more magnificent than He's.

It was a new building in British classical style, with a site area of ​​90 acres, and the land and house prices were about 46 million Hong Kong dollars.

The conclusive news was disclosed by Rong himself. Before the mansion was completed, reporters often took pictures and published it in newspapers in Canada and Hong Kong.

Rong Zhijian's private holiday residence in the UK is the country birch forest villa of the former British Prime Minister Macmillan. The villa covers an area of ​​700 acres.

When Rong is happy, he will show photos of his private residences in England and Canada.

Regarding criticism from some quarters, Rong said: "I don't care at all! Let them talk."

According to overseas media, ~www.readwn.com~ The Rong family has been among the super rich in Hong Kong a few years ago, with personal assets of about five billion Hong Kong dollars.

At least the Rong family can be regarded as the most outspoken and rich.

The social circle outside the Rong's business are all Hong Kong local celebrities.

This is a small scene under the big banyan tree in the city of Hong Kong. A major feature of this small street band is the combination of Chinese and Western instruments.

Of course, between the lines, one can see a vertical and horizontal Rong family.

But we cannot ignore one thing.

That is, the branch became famous in the first battle, and it became famous because of the acquisition of Hengchanghang.

And if He Shaoheng hadn't agreed to the acquisition of the branch company, he would have sold the shares in Hengchanghang to the Rong family.

It is impossible for Rong's to acquire successfully in any case, and it is impossible to reach more than 50% of the shares.

And because of this, Ye Zhicheng and He Shaoheng severed their relationship and became like strangers.

Ye Zhicheng thought he and He Shaoheng were friends, and Ye Zhicheng felt betrayed by He Shaoheng's stabbing in the back.