Meeting with Jack Ma, Thailand's richest man, Xie Guomin, received a surprise

Meeting with Jack Ma gave Thailand's richest man, Xie Guomin, a surprise.

According to the Hong Kong Economic Times, Alibaba co-founder Jack Ma recently met with Xie Guomin and his third son, Chia CEO Xie Rongren, in Hong Kong.

At the beginning of January 2023, Ma Yun appeared in Thailand and was personally received by Xie Guomin, accompanied by Xie Jiren, chairman of CP Group and Xie Guomin's eldest son.

The report also said that this was the second meeting between the two in less than a month, which triggered speculation about the investment cooperation between the two.

Affected by this news, Xie Guomin's Hong Kong listed company CP Enterprise International rose 68.35% and 251.88% in two consecutive days on January 30 and 31, and the latest stock price was 4.68 Hong Kong dollars, the stock price soared six times from two days ago, and the market value soared by 937 million Hong Kong dollars.

In fact, Ma Yun and Xie Guomin have known each other for a long time, and the two sides have reached close cooperation on many occasions.

01

The Xie family's CP Group is a typical family business, and Xie Guomin is the "second-generation head" of the group.

In 1939, Xie was born into a Thai Chinese family. At a young age, he was sent back to China by his father to study Chinese, and later in Hong Kong to study economic management and business.

After graduating, he returned to Thailand and started as an ordinary employee of the company in order to gain experience.

After several years of tempering, Xie Guomin began to take over the business of CP and carried the banner in the field of poultry farming.

Until 1970, his father took a back seat, and Xie Guomin, who was the most capable, began to fully take charge of the CP Group.

In the first year of reform and opening up, the state promulgated the Sino-foreign Joint Venture Law, which attracted a large number of overseas Chinese to return to China to invest.

Xie Guomin, who learned the news, took the lead in leading CP Group back to China to establish the first foreign-funded enterprise, and successively won the business licenses of three Sino-foreign joint ventures No. 0001 in Shenzhen, Zhuhai and Shantou. And invest 15 million US dollars to build the largest modern feed factory - Chia Tai Kangdi.

Subsequently, in 1985, a broiler breeding and processing integrated enterprise - Shanghai Dajiang Group was established.

In 1998, CP Feed accounted for 10% of the market in China, producing 300,000 tons of broiler chickens and nearly 400 million chicks a year.

This also laid the foundation for CP Group to become one of the world's three major agricultural and animal husbandry giants in the future.

In 1989, the Tse family entered the Hong Kong market, acquired department stores, and entered the financial industry, and the Tse family gradually began to diversify.

Since then, Xie Guomin's Chinese business map has begun to be fully laid out.

From the popular TV program "CP Variety Show" in China, to Dayang Motorcycle, Lotus Supermarket, to CP Pharmaceutical and Pharmaceutical, and even in the financial field, CP Group has received support from the government.

Betting on the reform and opening up of China, Xie Guomin also ate the earliest wave of dividends and made a lot of money.

02

In fact, the progress of Xie's business empire has not been smooth.

In 1997, the Asian financial crisis broke out, during which many large enterprises collapsed, and CP Group was not spared.

Xie Guomin has said that this is the biggest difficulty he has encountered in his life. CP Group has suffered an unprecedented economic crisis.

In order to survive, Xie Guomin chose to survive with a broken arm, began to sell a large number of high-quality assets in Thailand, and closed down long-term loss-making enterprises such as Asia-Pacific Petrochemical.

But he kept China's high-quality assets, choosing to bet all his energy and money on the Chinese market.

In the same year, while selling the Thai Lotus Supermarket, CP Group's first Yichu Lotus Supermarket in China opened in Shanghai.

At the same time, in order to save the superbrand plaza where the capital chain was broken, Xie Guomin began to look for money everywhere.

Xie Guomin has said that 10 years of development in China may be equivalent to decades of development in other countries. Therefore, in the most difficult period, Xie did not sell China's high-quality assets, but increased investment.

Data show that from 1997 to 1998, CP Group's assets in China reached 35 billion yuan.

The Chinese market has also brought considerable profits to CP Group, with revenue of 16 billion yuan and profit of 530 million yuan in China in 1998 alone.

In the millennium, CP Group, which survived the crisis, founded China Biopharma. Two years later, Shanghai Superbrand Mall, which had suffered from a shortage of funds, also opened smoothly.

In 2012, CP Group acquired a 15.57% stake in Ping An for US$9.4 billion, becoming the largest shareholder behind it.

In 2015, CP Group and a Japanese foreign company acquired a 20% stake in CITIC Group, becoming the second largest shareholder.

Up to now, under the helm of Xie Guomin, CP Group has invested nearly 6 billion US dollars in China, established 213 enterprises, spread all over the country, more than 80,000 employees, and annual sales of more than 50 billion yuan, becoming one of the largest and most invested foreign companies in China.

The capital territory of CP Group covers agriculture and animal husbandry, food industry, commercial retail, pharmaceutical, locomotives, real estate, international trade, finance, media and many other fields.

03

The layout of Xie Minmin's capital territory in Thailand cannot be underestimated.

Especially in the food industry and retail industry, CP Group not only takes charge of Lotus Supermarket, Wankelon Supermarket, but also 7-Eleven convenience stores that have blossomed everywhere.

According to 2007 statistics, there are 4,055 7-Elevens in Thailand, far more than many developed countries, and every Thai person goes to 7-Elevens twice a day on average.

In addition, Thailand's logistics, telecommunications operations, manufacturing and many other fields are among the commercial territory of CP Group.

In order to build Thailand's "Alipay", Xie Guomin also joined forces with Jack Ma.

On November 1, 2016, Ascend Money, a subsidiary of CP Group, signed a strategic cooperation agreement with Ant Financial to create a Thai version of "Alipay", and the person in charge is Xie Rongren, the third son of Xie Guomin.

In fact, Xie Guomin and Ma Yun have known each other for a long time and have a close relationship.

According to the recollection of Ma Yun's assistant Chen Wei, Xie Guomin heard Ma Yun's English speech and admired him very much.

In April 2008, the two sides held a meeting, and Xie insisted on inviting Ma to participate and instructed his two sons to visit Alibaba as soon as possible.

7-Eleven convenience stores throughout Thailand also have Ali and Jack Ma.

Xie Guomin highly praised Jack Ma's way of business.

He also regretted that he missed the opportunity to invest in Jack Ma because he did not understand the profit model of e-commerce.

In addition, Xie Guomin also sent his juniors to study at the "Lakeside University" founded by Jack Ma and became Jack Ma's students.

In March 2017, Xie Chengrun, the grandson of Xie Minmin, also attended the third opening ceremony of Lakeside University.

Now, Jack Ma of the "Idle Cloud Wild Crane" has come to Thailand again to meet with Xie Guomin, which inevitably causes the outside world to speculate whether the two sides will join hands again.

The market was the first to respond. Zhengda Enterprise International, chaired by Xie Jiren, the eldest son of Thailand's richest man, Xie Guomin, soared by HK$937 million in market in two days, reflecting Jack Ma's influence in Hong Kong stocks.

It is worth mentioning that Liu Qiangdong has returned to China, what about Jack Ma?