"The listing has made old Jiang a success, but also harmed old Jiang."
Jiang Quanlong, the former rare earth king, in 1994 the net worth reached 130 million, the company Yixing Xinwei landed on the Hong Kong Stock Exchange in 1999, becoming the first private enterprise listed in Xiangjiang, and Jiang Quanlong, is famous in one fell swoop.
This is the listing of the achievement of the old Jiang, but in 2002, a whistleblower letter crossed the ocean and came to the Hong Kong Stock Exchange, the content of this letter is very simple, pointing directly to Jiang Quanlong's performance fraud, a year of inflated turnover of 100 million, that is for everyone to see.
After Jiang Quanlong's wife Qian Yuanying knew about it, her first reaction was that some people hated the rich and would only use such indiscriminate means.
With the investigation of the relevant personnel, a headless public case was hastily closed without results, and the rare earth industry was valued, and the rare earth on which Jiang Quanlong made his fortune, its stock price plummeted by 90% in the following time.
Although it plummeted, it did not affect Jiang Quanlong's huge throw of 100 million yuan at the gambling table in Singapore, nor did it affect Jiang Quanlong's son Jiang Xin to eat a meal of 400,000 yuan on The 5th of the Western Suburbs.
One
Jiang Quanlong had two nobles in his life, one of whom was his wife Qian Yuanying. When Qian Yuanying went to school in Kaifeng, Jiang Quanlong resolutely quit his job and went to Kaifeng to accompany Qian Yuanying.
Jiang Quanlong is a post-50s, or a native of Yixing, Jiangsu. People who have come from that time generally have a sense of resilience, but they also have a clear weakness, that is, they dropped out of school early, such as Jiang Quanlong, who only went to the 5th grade of primary school.
Qian Yuanying is 7 years younger than Jiang Quanlong, with different ages and different education. Jiang Quanlong worked in the local refractory factory for 10 years, and the matter about his studies had long been forgotten, and Qian Yuanying had a "college entrance examination dream" in his heart and graduated from a regular normal college.
After Qian Yuanying graduated, he went to work in Kaifeng and took up an iron rice bowl. Jiang Quanlong could not bear to be separated from each other, went with Qian Yuanying, and went to Kaifeng to become a migrant worker.
This experience is put to this day, from the current point of view, looking back, you will feel that this is a story that can be sung and wept, but Qian Yuanying is still willing to be with Jiang Quanlong, because she believes in her own vision, she thinks that Jiang Quanlong is a person who can do business, and will definitely take her to live a good life in the future.
They worked in Kaifeng for two years, Jiang Quanlong's sense of smell for business was extremely sensitive, in 1986 felt that the time had come to start a business, the two of them totaled, Qian Yuanyingfu sang with women, they carried 3,000 yuan "the first bucket of gold", killed back to Yixing, set up a "refractory factory".
At first, it was a factory, but in fact it was a mom-and-pop shop. The two in-laws had to stay up day and night, and when they opened their eyes, they were all kinds of expenses.
But Jiang Quanlong soon released the pressure on Qian Yuanying, and in 1987, Jiang Quanlong plunged into the rare earth industry and established the Xinwei Separation Plant.
What is a rare earth? Rare earths, known as "industrial monosodium glutamate," can be applied to many materials to improve their properties. However, rare earths are often associated with iron ore and need to be extracted.
Extracting this kind of thing, how can Jiang Quanlong handle it? Thanks to the efforts of Academician Xu Guangxian of Peking University and others, they have completed the rare earth cascade theory, and then realized the industrialization design through the computer, and the enterprises and factories below can enjoy this wave of dividends.
At that time, a "rare earth fever" was set off, and Jiang Quanlong was a person in the industry, so naturally he would not miss this wave of dividends flowing away from his hands in vain.
However, Jiang Quanlong is also struggling, even if he has purchased relevant configurations and equipment, but suffering from no talent, even if there is a large order, it will not fall from the world and smash into Jiang Quanlong's head.
However, the timing allowed Jiang Quanlong to dig the foot of the wall once, which allowed Jiang Quanlong to jump the dragon gate in one fell swoop.
Two
Lou Jixiang was Jiang Quanlong's second nobleman. Originally, Lou Jixiang worked at the Shanghai Yuelong Chemical Plant and was the leader of the process test team. Shanghai Yuelong Chemical Factory has a lot of history and is our earliest rare earth production enterprise.
In 1988, state-owned enterprises to township enterprises to provide one-on-one help, Jiang Quanlong has just been involved in the rare earth industry for a year, catching up with this trip to the east wind, Lou Jixiang was appointed to Yixing to help Yixing Xinwei.
Because of this opportunity to understand, with the help of Lou Jixiang, Jiang Quanlong took advantage of the fluctuation of the price of the rare earth industry to dig out a large bucket of gold from it, and in the real sense, embarked on his own career.
And Jiang Quanlong also regarded the rare earth business and refractory materials business as his own ability to settle down, and formed the Xinwei Group, recruiting talents everywhere and wanting to go up to the next level.
Originally, Jiang Quanlong was honest in grasping production and doing business in a down-to-earth manner, but his circle of friends was too wide, plus the financial market started as early as 1990, and around 1998, there have been countless myths of wealth creation, Jiang Quanlong listened to what his friends said, and his heart was also slightly turbulent, and soon put into action.
In 1998, Jiang Quanlong wanted to bring Xinwei to the Hong Kong Stock Exchange for listing, and he found a securities company in Lyon, France, to escort Jiang Quanlong's listing journey throughout the process.
After more than a year of preparation, in 1999, Yixing Xinwei successfully landed on the Hong Kong Stock Exchange IPO, changed its name to China Rare Earth, and raised 370 million Hong Kong dollars, while Jiang Quanlong's net worth soared from 130 million to 1.1 billion.
There is nowhere to be found where the money is spent, but one thing is certain: it is used to attract talent. In 2000, Jiang Quanlong, who had a large hand, could "divide the territory and feudal marquis" with his subordinates, and it was particularly important that he dug up Lou Jixiang and allowed Lou Jixiang to bring more brothers.
In other words, Lou Jixiang did not jump ship alone, but brought a team, which is bound to cause a lot of losses to the old owner.
A year ago Jiang Quanlong was a prominent figure, and now he has dug up the wall of the old brother, in the eyes of the old brother, this is simply intolerable, has been planning ambitions, but Jiang Quanlong's rare earth business is getting better and better every year, and the turnover of each year is almost 100 million, and there is a trend of sitting firmly on the dragon.
What can wait is probably time. In 2002, Jiang Quanlong released the quarterly results of that year without audit. Bypassing the audit, this made the foreign accountant dizzy, fortunately, the burden was not done.
On the other side, some people saw the opportunity, and a whistle-blowing letter floated across the sea to the Hong Kong Stock Exchange.
For a time, Jiang Quanlong became the target of public criticism, and many media came to interview him, and Jiang Quanlong declared: "You can answer all the questions that can be answered." And Lou Jixiang swore an oath, saying: "Since I took office, there has been no problem with my performance. Jiang's wife, Qian Yuanying, said bluntly: "It is completely slanderous, and villains hate the rich!" ”
Well, so many people say there is no problem, but you have to look it up, right? During the investigation of the relevant personnel, it was reported that Jiang Quanlong and his wife ran away to Australia.
Are there really a problem with them?
Three
Jiang Quanlong did not run, he said that he just went to Australia to see the mines, and soon after he appeared in Yixing. However, performance fraud still created many problems for Jiang Quanlong, the most obvious of which was that the stock price of China's rare earths fell to a low level of 0.3 yuan.
When everyone was waiting for the results of the investigation, the relevant personnel gave no results, and the only real thing was the report letter. Is this just retaliation? Not detected.
When Jiang Quanlong fell into a performance storm, the rare earth industry could not be controlled by the private sector, during that time, the two major rare earth groups in the north and south were formed, and the era of low-end competition gradually faded away.
This news may be irrelevant to Jiang Quanlong, even if the outside quarrels turn the sky, the machines of the factory still turn, and the wages of the workers are still paid, it is said that since Jiang Quanlong started his business in 1984, he has not owed the workers' wages.
Men are afraid of getting into the wrong line. Jiang Quanlong entered the right line, and after 10 years of performance turmoil, he can still temporarily rank among the top 100 rich people with a net worth of 10.3 billion.
Although sitting on such a wealth, Jiang Quanlong still declared to the outside world: "I don't know how to spend money." According to him, his daily expenses only cost a few dozen yuan, but he lives in a luxury villa built with 2 million yuan.
Jiang Quanlong, who did not know how to spend money, after arriving in Singapore, he knew how to spend it, threw hundreds of millions of dollars, and was chased home by people chasing debts. In the end, the company's board of directors and Jiang Quanlong divorced the relationship, which was completely Mr. Jiang's personal act and had nothing to do with the company.
Lao Tzu is addicted to gambling, and his son is good at cars. Jiang Quanlong has such a skill, his son naturally follows the light, drinks from snacks, and does what he wants when he grows up.
It is said that in the garage of Jiang Xin, the son of Jiang Quanlong, luxury cars are all over the place, worth 200 million. Originally, Jiang Xin was the leading big brother in the luxury car circle, and his "great achievements" could only be circulated in the circle, but a sky-high meal fee made him really out of the circle.
In 2018, Jiang Xin and 7 friends had a dinner party in the western suburbs of No. 1, and paid after the meal, 410,000. Maybe Brother Gongzi thought it was too arrogant, so he posted it, and then deleted it in seconds, but in the end it was still fast enough to take a screenshot.
From frugality to luxury, from luxury to frugality, why not the classic cases of the founding and destruction of the country in the history books?
But for Jiang Quanlong, who has a net worth of tens of billions, this may be the best gift he can leave to his children.
Looking back at Jiang Quanlong's entrepreneurial road, it is actually very simple, that is, to take a shuttle bus with the times, but more importantly, you must first find your own positioning and see where you are in your life before you can jump into the game.
Jiang Quanlong from fireproof materials to rare earths to environmental protection materials, all of which are related to materials. He has often had noble people to help him at critical moments, first his wife Qian Yuanying, and then the expert Lou Jixiang. It is not so much a noble person as it is a "business wind" in him, and those who are optimistic about him are gathered by his side.
Today's Jiang Quanlong, there is not much activity in the business world, the rare earth industry can still be handsome again, no longer "cheap selling"? Lian Po is old, a popular figure, and still looks at this dynasty.