One
In 2009, Wang Jianlin's project encountered financial problems, and many big men of the "Taishan Society" came to help. Lu Zhiqiang grabbed the "void" and grabbed 28 small targets, which made his peers look scared.
In fact, since the age of 36, Lu Zhiqiang has been "not bad money".
In 1985, riding on the spring breeze of reform and opening up, 33-year-old Lu Zhiqiang resigned from the "golden rice bowl" of the deputy director of the office of Weifang Technology Development Center and began to go to the sea to do business.
Three years later, Lu Zhiqiang, who was born in Weihai, Shandong Province, entered Beijing and founded Oceanwide Holding Group. This year, Lu Zhiqiang was 36 years old, and it took only a few years from going to the sea to having a registered capital of 4 billion yuan.
Regarding how Lu Zhiqiang's first pot of gold came from, there are two theories in media reports. One is believed to come from the education and training industry. Another way of thinking it comes from the real estate industry. What the truth is, outsiders do not know. This added a touch of mystery to the rise of Lu Zhiqiang.
While his wealth is growing, Lu Zhiqiang does not forget to "gild" himself. In 1992, at the age of 40, he entered Fudan University to pursue a master's degree in economics.
A year later, at the suggestion of Duan Yongji, a big man who had just led the Sitong Group to list in Hong Kong, the Taishan Industry Research Association (i.e., taishan association) was formally established in Weifang, Shandong, with Duan Yongji as chairman, Liu Chuanzhi as president, and Lu Zhiqiang, 41, as the host of the inaugural meeting.
Because the conference was held in Shandong, it took the name of "Taishan". At the same time, Taishan has the meaning of "the dignity of the five mountains", representing a kind of height, but also symbolizing the incomparably noble status of members.
If you want to become a member of the "Taishan Society", the threshold is extremely high, the assets must exceed 1 billion, and there must be more than two members to recommend and pass the vote of all members to become one of them.
Moreover, the "Taishan Society" implements a elimination system, and the secrecy work is also very strict. No recordings, no filming, no outsiders allowed to come in... It was only announced that it was a group of old men drinking tea and party.
What can such a great organization provide to its members?
Two
According to media reports, every time at a gathering, the bigwigs of the "Taishan Society" will invite economic experts to analyze and predict the economic situation, jointly study certain conference communiqués, and interpret the policies and guidelines issued by the state...
The most important thing is that the "Taishan Society" has a rule: when there is a crisis in the member's enterprise, other members should provide maximum help.
The "Taishan Society" gathered a group of top domestic business leaders, and these cattle people who mastered the top resources and means of production got together, and the energy was amazing.
In 1995, the 43-year-old Lu Zhiqiang stepped on the real estate dividend period, his wealth grew rapidly, and he successfully joined the "Taishan Society" under the recommendation of Liu Chuanzhi.
In this year, 9 well-known enterprises, including Oceanwide Group, Lenovo Group and Sitong Group, jointly initiated the establishment of Guangcai Business Investment Management Co., Ltd. Among them, Lu Zhiqiang is the protagonist, one person alone accounts for 91.7% of the stock price, Liu Chuanzhi and Duan Yongji, all came to give him a "platform".
A year later, China's first private bank, Minsheng Bank, was established, and Lu Zhiqiang and Feng Lun, a member of the "Taishan Society", participated in the establishment of Minsheng Bank.
In 1997, Shi Yuzhu, a member of the "Taishan Society", was in a hurry of funds and had debts of 250 million yuan. At the moment of crisis, Duan Yongji intervened to help him survive the disaster, and Shi Yuzhu had the later brain platinum.
During this period, under the dual dividends of state-owned enterprise reform and capital market, Lu Zhiqiang's "Guangcai Cause" acquired Nanyou Property and successfully listed on the backdoor.
Lu Zhiqiang, who completed his capital debut, fought an equity merger war with Liu Yonghao of New Hope Group on the eve of the listing of Minsheng Bank.
As a result, Liu Yonghao accurately expanded the share capital to 9.9997%, infinitely closer to the 10% shareholding limit stipulated by the directors at that time, and with the rest of the Liu family, Liu Yonghao's New Hope held more than 17% of the shares, becoming the largest shareholder of Minsheng Bank.
At the first equity auction of Minsheng Bank the following year, Lu Zhiqiang and his Oceanwide Group went out of the sky and grabbed 40 million shares, plus the shares of their allies CNMC Construction and China Shipowners Mutual Insurance Association, holding more than 20% of the shares, so Lu Zhiqiang was elected vice chairman of Minsheng Bank.
Grasping the right to speak in the "treasury" of Minsheng Bank, Lu Zhiqiang's Oceanwide Group began to take off in situ.
Three
In 2002, the Administrative Measures for Securities Companies were officially promulgated, clarifying that private capital can enter securities companies. Lu Zhiqiang joined The Yellow River Securities, expanded the capital from 100 million yuan to 1.28 billion yuan, became the major shareholder in one fell swoop, and changed the name of Yellow River Securities to Minsheng Securities.
In April of the same year, the Insurance Law was amended to allow private capital to enter as well. Lu Zhiqiang initiated the establishment of Minsheng Life Insurance, which ran at the first time of the introduction of the policy.
Subsequently, the people's livelihood guarantee and the people's livelihood pawn were established one after another, and in China's financial industry, a huge and complex "people's livelihood system" was about to come out.
Although they all bear the title of "people's livelihood", they are not subordinate to each other. It was Lu Zhiqiang, the major shareholder hiding behind the scenes, who linked them together.
Also this year, Shanghai plans to use 5-10 years, investment of 100 billion yuan, the transformation of the two sides of the Pujiang River. Dongjiadu, a shantytown that stretches for several kilometers, has become a must for major real estate developers.
At that time, the three brothers of the Guo family of Sun Hung Kai in Hong Kong did everything they could, but they did not get this piece of fat. Lu Zhiqiang's Oceanwide won 120,000 square meters of rough land with nearly zero transfers, which made many real estate developers feel frightened.
However, due to the frequent acquisition of land and the "8.31 limit", Oceanwide Group had an operational crisis. Liu Chuanzhi of the "Taishan Society" intervened in time to help Pan Hai get through the difficulties.
In addition, Minsheng Bank has also made great contributions to Lu Zhiqiang's capital expansion. On the seventh day after the listing of Minsheng Bank, Oceanwide sent its equity to the pledge road. In the years that followed, the shares were not in the pledge state, but on the way to the pledge.
With the unlimited listing and circulation of Minsheng Bank, Lu Zhiqiang frequently arbitraged huge amounts of cash through precise operations in the secondary market, and then sent it to Oceanwide and Oceanwide's subsidiaries.
From the end of 2007 to the beginning of 2008 alone, in just three months, Oceanwide intensively reduced its holdings in Minsheng Bank, cashing out about 4.547 billion yuan.
When Minsheng Bank became Lu Zhiqiang's "banknote ability" to expand his territory, it also raised his wealth rank by a large margin, and he became a big man in the "Taishan Society".
Four
In 2009, the 57-year-old Lu Zhiqiang ranked fifth in the Hurun Rich List with a wealth of 30 billion yuan, overpowering Gome Huang Guangyu and promoting him to the richest man in Beijing.
It was also this year that the State-owned Assets Management Co., Ltd. of the Chinese Academy of Sciences transferred its 29% stake in "Legend Holdings", and for this piece of fat, all the forces wanted to take it for themselves.
However, the "competition and recruitment of relatives" rules set by the "Zhongke Guojing" are also very harsh. Coincidentally, Lu Zhiqiang met these three requirements "just right", so Oceanwide eventually became the transferee.
Lu Zhiqiang acquired 29% of the shares of "Legend Holdings" for 2.755 billion yuan, becoming Lenovo's "three masters".
Although oceanwide and Lenovo's "marriage" is a door-to-door pair, both investment and corporate strategic development are very compatible. But the next MBO (management buyout) made people see the ambiguous taste.
MBO of state-owned assets was a discoloration for managers at the time. Haier and Jianlibao have both conducted MBOs, but after media exposure, the former did not die, and the founder of the latter, Li Jingwei, was imprisoned.
In the MBO action of Legend Holdings, "Joint Holding Zhiyuan" transferred 9.5% of the shares of China Oceanwide, and China Oceanwide transferred 9.6% of the shares of 5 natural persons such as Liu Chuanzhi, an additional 0.1% of the shares, and successfully sent Liu Chuanzhi to the position of chairman of Legend Holdings.
Liu Chuanzhi and others perfectly circumvented the restrictions of MBO through curve trading, and finally realized shareholding, and Lenovo officially became a private enterprise. In this operation, Lu Zhiqiang made an indispensable contribution.
Lu Zhiqiang said that after more than ten years of long-term accumulation, "Liu Zong saw me thoroughly, and I also saw liu through." ”
The story between the big guys of the "Taishan Society" has a taste of having money to earn together and carry things together.
Five
In 2009, Wang Jianlin took a fancy to the Changbaishan International Tourism Resort project, but because the project was too large, one person could not eat it, and immediately asked for help from the "Taishan Society".
Although Wang Jianlin is not a member of this organization, he has been very close to this gang of bigwigs and is known as the "little brother of the Taishan Society" by the outside world. Subsequently, the big guys Lu Zhiqiang, Liu Chuanzhi and others simultaneously funded and jointly established The Changbai mountain international tourism resort development co., LTD. with Wang Jianlin.
"Pull a hand in a moment of crisis, and when the opportunity comes, you will do it." The high threshold and high requirements of the "Taishan Society" screened out reliable "comrades-in-arms", and in the face of opportunities and crises, they huddled together to keep warm, forming a powerful force.
In the above-mentioned projects, China Oceanwide holds 27.50% of the shares, and according to the agreement, Lu Zhiqiang's actual investment is about 1.65 billion yuan. At that time, the project was successfully tied to the 12th National Winter Games. With the help of the red spring wind, Oceanwide successfully issued 2.8 billion yuan of bonds, and the financing party was Minsheng Bank.
Because of the special relationship between Lu Zhiqiang and Minsheng Bank, he obtained very comfortable interest repayment conditions. Of this loan, 1.94 billion yuan was used for project investment, 300 million yuan was used to repay bank loans, and 560 million yuan was used to supplement the company's working capital. Lu Zhiqiang did not spend a dime the whole time, more birds with one stone, and simply won hemp.
In addition to the Changbai Mountain project, the "Brother Company" of the Oceanwide Group of private enterprises has also participated in the Xishuangbanna International Tourism Resort and dalian Jinshi International Tourism Resort, with a total investment of 65 billion yuan. Lu Zhiqiang's tough investment style makes outsiders look scared.
But this is all a small scene, and the highlight moment of "capital hunter" Lu Zhiqiang has not yet arrived.
Six
In 2013, the 20th anniversary annual meeting of the "Taishan Society" was held secretly in Taiwan, but it was targeted by the Taiwan media of chicken thieves. This mysterious organization, and the names of the thunderous big guys, finally surfaced. Together, their assets are several times higher than Taiwan's annual budget.
A year later, Lu Zhiqiang began to transform into a financial and real estate comprehensive holding company. Through a series of acquisitions, Oceanwide has won the most valuable licenses in the financial industry, including banks, securities, funds, trusts, futures and insurance, and the "Oceanwide System" has become a huge financial control empire.
This year, Wang Jianlin's Wanda Commercial was listed on the Hong Kong Stock Exchange. At the scene of the bell ringing ceremony, Wang Jianlin thanked 2 people in his speech, one was Ma Weihua of China Merchants Bank, and the other was Lu Zhiqiang.
And Lu Zhiqiang also laughed in an interview with the media: "I am my mother's family, to help my brother stand on the platform." ”
Later, Oceanwide Holdings invested in Wanda Film and Television and Qingdao Wanda Film and Television (the main body of the acquisition of Legendary Pictures) to help Wang Jianlin's film sector restructuring and listing.
In the years since, Oceanwide Holdings' flag has been inserted internationally, pocketing seven real estate projects in five U.S. cities, costing a total of about 9.7 billion yuan. INTERNATIONAL FINANCE companies such as IDG, Genworth Financial Group, and Quamnet International are also on Oceanwide's acquisition list.
In this acquisition feast, Minsheng Bank once again provided a large amount of funds. In addition, Lu Zhiqiang will immediately pledge the acquired equity. In this way, a cycle of acquisition, pledge financing, acquisition, and re-pledge financing is formed, and the money comes.
2016 was Lu Zhiqiang's highlight moment.
This year, Oceanwide's outbound investment reached its peak. In San Francisco alone to build the urban complex "Oceanwide Center", Lu Zhiqiang plans to invest $3 billion. When completed, it will house the second tallest building in San Francisco and will cover high-end apartments, luxury hotels and other products.
At the groundbreaking ceremony, Lu Zhiqiang talked and laughed with Li Mengxian, then mayor of San Francisco, and Luo Linquan, Chinese Consul General in San Francisco.
This year, Lu Zhiqiang spent 7.5 billion yuan in 4 days, "violently" increased his stake in Minsheng Bank, and the soaring "trench" made him have unlimited scenery for a while.
In the past few years, Lu Zhiqiang's multiple reductions have caused him to lose the second chair of Minsheng Bank. This increase in holdings has returned him to the position of the third largest shareholder of Minsheng Bank.
Also this year, the "Oceanwide Aid Action" implemented by the Oceanwide Charity Foundation donated a total of 2.3 billion yuan in 5 years. This act of kindness made him and Xu Jiayin win the first "National Poverty Alleviation Dedication Award".
However, behind the appearance of the seeming scenery, dark thunder has long been buried.
Seven
In 2016, The performance of Oceanwide Holdings reached its peak, achieving revenue of 24.671 billion yuan and net profit attributable to the mother of more than 3.1 billion yuan, and even Lu Zhiqiang's wife Huang Qiongzi and daughter Lu Xiaoyun were listed in the top ten of the 2016 Hurun female richest people.
A year later, the state began to tighten its foreign investment. At the same time, a new round of real estate regulation and control policies has been intensively introduced.
The wind direction has changed. Wang Jianlin caught the change in the situation and began to sell overseas real estate projects wildly. At that time, many people thought That Wang Jianlin was stupid, and in the end they knew that the person who carved the sand was himself.
Lu Zhiqiang was one step too late. Wild transformation and expansion, as well as frequent pledges of equity, have caused Oceanwide Holdings' liabilities to soar, and its stock price has plummeted, even touching the liquidation line.
In order to stabilize the stock price, Oceanwide Group began a protracted war of intensive increases, and even so, the stock price still fell, and the market value evaporated by 20.6 billion yuan a year. Finally, Lu Zhiqiang and senior management have also joined the camp of stock price stability.
Changes in the direction of the wind and the market have detonated the dark thunder laid by the previous leveraged expansion. This year, Lu Zhiqiang's oceanwide holdings short-term liabilities have exceeded 50 billion yuan, and the interest alone has to pay back 2 billion yuan every year.
In order to plug the debt hole, Oceanwide sold the assets of Dongjiadu in Shanghai and Beijing Oceanwide International Residential Area to Sun Hongbin for 12.553 billion yuan.
Through methods such as "cutting land to survive", Oceanwide Holdings has successively achieved nearly 24 billion yuan of funds, which has allowed Lu Zhiqiang to breathe a sigh of relief.
But the next thing was to directly ask for half a life in the ocean.
Eight
In 2020, the 80-ton "fake gold case" in Wuhan broke out. Wuhan Jinhuang used this batch of fake gold to raise 16 billion yuan from financial institutions. Among them, Minsheng Trust was the most miserable, with a principal of 4.1 billion yuan.
Minsheng Trust is known as one of the three core financial assets of Oceanwide Holdings. In fact, the Department of People's Livelihood has stepped on many pits this year: The overdue bonds of Xinhualian, the "Radish Chapter" of the Fifth Bureau of China Construction, Hanergy Group, Kaidi Ecology, and so on.
A few pits came down, directly triggering the debt crisis of the Oceanwide system. According to media reports, oceanwide departments only have more than 20 billion yuan of bonds due within the year, while China Oceanwide's current liabilities are more than 180 billion yuan, but the monetary funds on its books are less than 1/8 of the debt, facing huge debt repayment pressure.
In order to repay the debt, Oceanwide began to sell overseas projects.
Hony Capital, a subsidiary of Legend Holdings, wanted to invest 8.5 billion yuan to take over the project, but due to the epidemic hindering due diligence, it was ultimately unable to make the trip.
Can the "Taishan Society" brothers of that year help Lu Zhijian get through the difficulties?
Lu Zhiqiang looked around and found that among the brothers who were once "Taishan Hui", Duan Yongji had retired, Liu Chuanzhi had retired, Shi Yuzhu and himself were in court, and Wang Jianlin, the former "little brother", was struggling to survive in the e-commerce giant' attack...
It was also this year that the "Tarzan Society" was disbanded. It is said that it is because the members are more divided. This organization, which gathered for profit and then dispersed because of profit, has completed its own era.
As of the end of the third quarter of 2021, Oceanwide Holdings had total assets of 123 billion yuan, total liabilities of up to 97.99 billion yuan, and the asset-liability ratio was still around 80%.
In 2022, 2.184 billion shares of China Oceanwide held by Oceanwide Holdings were judicially frozen by the Beijing Financial Court.
At the same time, the 22.56% stake in Minsheng Holdings held by China Oceanwide was re-frozen by the judiciary and frozen in turn. On April 9, 4.11% of China Oceanwide's shares in Minsheng Bank were also frozen in Sunac's application.
In addition, the Oceanwide Department is also deeply involved in various disputes, and has been chased by a number of companies... The outcome of Oceanwide in the future is still unknown.
Lu Zhiqiang rose in the period of real estate and policy dividends, and reached its peak in the heyday of the "Taishan Society". But take off the filter to see, where there are any big guys to create the era, only the times to create the big guys.
The real big guy is not a triumphant advance when the wind is downwind, but a nirvana rebirth when the wind is against the wind.
The author of this article: Wan Xiaodao, writing stars, writing gossip, there is evidence; The image is positive, the shadow is oblique, all by themselves, welcome to pay attention to @ Wan Xiao Knife headline number