Chen Jinyan, the founder of Jinyi Real Estate, once became a large real estate developer in Zhengzhou, and now the company's annual income is only more than 100 million

Operator Finance Network Cao Siqi / Wen

Chen Jinyan is the majority shareholder of Jinyi Real Estate Group Co., Ltd. (hereinafter referred to as "Jinyi Real Estate"), and he holds all the equity of Jinyi Real Estate through indirect holding. According to the enterprise investigation, the relevant holding enterprises of Jinyi Real Estate are concentrated in Henan, but Chen Jinyan is indeed like a fake Fujian businessman, which makes him more representative.

Operator Finance Network will try to reveal the secret of The Fujian businessman Chen Jinyan who entered the Central Plains for you, and review his past experience.

I don't know when Chen Jin's "flame" became Chen Jin's "Yan", whether he changed his name and there is no exact clue to verify, but from the previous media reports, these two names seem to be used.

It is reported that Chen Jinyan was born in a textile family, his ancestral home is Fujian Changle; in the 1990s, he founded Fuzhou Huaguan Knitted Textile Co., Ltd. with the support of his family, and registered and established Jinyi Group in 1994, when Chen Jinyan had not yet set foot in real estate.

Around 2005, Chen Jinyan made a major decision to move the strategic center to Henan. Jinyi successively reorganized Zhengzhou Guomian No.1 Factory, No.2 Factory and No.6 Factory, and established Zhengzhou Textile Division, one of the largest textile enterprises in the country at that time; the Group also invested 5 billion yuan to build Zhengzhou First Textile Co., Ltd., Zhengzhou Hongye Textile Co., Ltd. and Zhengzhou Ruilong Textile Co., Ltd.

Jinyi, which has taken over the debts of state-owned enterprises themselves and unemployed workers and other historical problems, has suddenly become tall in the hearts of locals in Henan, and Chen Jinyan may have been recognized by the local authorities and entrusted the heavy responsibility of land development to him.

As a result, Jinyicai officially embarked on the road of real estate development.

Gradually, Jinyi's real estate business accounted for a higher and higher proportion of total performance, and this enterprise transformed from textile to diversified operation, and later became involved in business, Internet, finance, education, property management and other fields.

However, due to the impact of the public health emergency in 2020, the business situation of Jinyi began to be worrying. Large-scale layoffs, pledge of the equity of its company and other "self-help" signals revealed, and even once reported that it has been acquired by the "Fujian" housing enterprise Rongxin Group, but Jinyi Real Estate immediately debunked the rumors, saying that although the two sides have previously had the intention of cooperation, they have been stranded.

Tianyan check shows that since the second half of 2019, Jinyi Real Estate has carried out a total of 8 equity pledges, and 4 are still in the "effective" state. Among them, on May 9 this year and September 17, 2019, 22.115 million shares and 49 million yuan were pledged to Tianjin Trust Co., Ltd., respectively, 5 million yuan to China Resources Shenzhen State Investment Trust Co., Ltd. on April 22 this year, and 30 million yuan to Bank of Zhengzhou on September 25, 2019.

Based on Jinyi's 2020 interim results (July 1, 2020 to December 31, 2020). According to the semi-annual report, the revenue achieved during the period was approximately HK$92 million (2019: HK$88.939 million), an increase of approximately 3.4% compared to 2020 (July 2019 to June 2020).

In the earlier year, for the financial year ended 30 June 2020, the Group recorded revenue of approximately HK$159,547,000 (2019: HK$211,818,000), a decrease of approximately 24.7% compared to 2019.

The real estate company only has a revenue of more than 100 million a year, and the scale is too small. In 2019, jinyi real estate officials also proposed to "seek a nationwide layout, and plan to increase its performance by 30% to 50% per year, exceeding 50 billion yuan within 3 years".