Wang Wenyin, known as the "world's copper king", was once again restricted from high consumption. Zhengwei New Materials, a listed company under Zhengwei Group, issued an announcement that the company's legal person Wang Wenyin was restricted from high consumption. This matter has attracted a lot of attention.
A few years ago, because of media reports, Wang Wenyin's Zhengwei Group sat on 30 million tons of copper mines, equivalent to 30% of China's proven copper mines, so Wang Wenyin's world copper king fame has disappeared. However, since the beginning of this year, Wang Wenyin has been restricted from high consumption twice because of litigation issues related to subsidiaries.
However, these two crises were quickly solved by Zhengwei. This time, Wang Wenyin's height limit was also quickly canceled. People close to Zhengwei Group revealed that Zhengwei's debt ratio is low. At present, Zhengwei is still very stable, and these problems are just some problems in the normal business process. Zhengwei Group has been selected as one of the world's top 500 companies for many years, with annual revenue of hundreds of billions and annual profits of about 10 billion.
Wang Wenyin has recently attracted attention because of another thing, that is, he once lost 5 billion yuan because of stepping on Lei Evergrande. Wang Wenyin has a good personal relationship with Xu Jiayin, and Xu Jiayin went to visit Wang Wenyin before. Wang Wenyin also specially wrote two calligraphy works to give to Xu Jiayin.
In 2017, Evergrande opened that round of crazy strategic investment of 130 billion yuan, of which the powerful Zhengwei Group invested 5 billion yuan. In 2020, Evergrande triggered a repurchase agreement because of its failure to return to A-share listing. At that time, Evergrande's funds were already very tight, so Xu Jiayin persuaded most shareholders to abandon the repurchase and convert their shares into ordinary shares.
Among the first shareholders to support Evergrande was Wang Wenyin. At that time, Shandong Expressway was smarter, and they did not agree to transfer shares. So in the end, Xu Jiayin could only find a takeover and took over the shares of Evergrande of Shandong Expressway. In this way, Shandong successfully retreated at high speed, and also made billions of dollars.
However, Wang Wenyin was too careless at that time, and he and Zhang Jindong of Suning both chose to support Evergrande, and agreed to abandon the buyback. But a year later, Evergrande thundered, and the stock price also fell all the way.
When Wang Wenyin invested in Evergrande, the valuation for Evergrande was 400 billion. But now Evergrande's market value is left in the billions. Of the 5 billion shares held by Wang Wenyin, there are now tens of millions left. With Xu Jiayin being caught, sooner or later Evergrande will be delisted again, or reduced to the fate of junk stocks.
In fact, Wang Wenyin's stepping on Lei Evergrande cannot be said to be Wang Wenyin's problem. After all, they are in this circle, and sometimes they have to talk about people's feelings. The loss of 5 billion yuan by stepping on Lei Evergrande will not affect Wang Wenyin's business, after all, his strength cannot be underestimated.
Wang Wenyin is also a legend. His family was poor when he was a child, and now he can become one of the ten richest people in China, completely on his own.
When Wang Wenyin was very young, his family was very poor, so he studied hard. Later, he was also successfully admitted to Nanjing University. At the time he was studying complex astronomy.
After graduation, Wang Wenyin was also successfully assigned to work in a unit in Shanghai. For a rural child like Wang Wenyin, it is already very rare to get such a job. But Wang Wenyin was not satisfied. He soon chose to resign.
After resigning, Wang Wenyin ran to Shenzhen. However, Wang Wenyin studied astronomy and had little opportunity to play in a private company. So Wang Wenyin couldn't find a job. The money he brought was also spent.
In order to survive, Wang Wenyin slept in the bridge cave at night. With a tenacious will, he survived the most difficult times. After that, Wang Wenyin found a job as a warehouse manager. He finally stabilized in Shenzhen.
Although the income from this job is small, Wang Wenyin has not neglected his work. He was still working very hard, and soon he had more than 2,000 products in the warehouse. Opportunities are also reserved for those who are prepared.
One day the big boss in Hong Kong came to inspect the warehouse, and he then asked some questions. Several leaders accompanying him could not answer. It was Wang Wenyin who came forward to answer the question. At this time, the big boss was also impressed by Wang Wenyin, thinking that he was not ordinary.
So the boss promoted Wang Wenyin to sales. Wang Wenyin also quickly rushed out of the grades, so he was further promoted. It didn't take long for Wang Wenyin to become an executive at the company.
At that time, Wang Wenyin's income was already very good, and if he continued to work, it would not be a problem to buy a house and a car in Shenzhen. But Wang Wenyin was not satisfied again. He didn't want to spend his whole life making wedding clothes for others, he wanted to create his own business.
So Wang Wenyin chose to resign and set up his own factory, the main business is to produce wire. At that time, Wang Wenyin's factory was very small, he himself was a salesman and a staff, but also responsible for delivery, customer service and so on.
Wang Wenyin is very tired from working every day, but he has been persevering. Wang Wenyin was busy with the factory during the day, and sometimes he worked late at night, so he slept directly in the factory.
After a few years, Wang Wenyin's factory slowly developed and grew. During the 97 financial crisis, Wang Wenyin seized the opportunity to expand against the market. At that time, one factory bought 100 machines, but because the funds were out, no one wanted these machines. Wang Wenyin took the risk of taking these machines.
After the financial crisis, the market demand was very strong, and Wang Wenyin's business also soared. In 2003, Wang Wenyin ushered in another opportunity. Because of SARS that year, copper prices plummeted. So Wang Wenyin ventured into the upstream of the industry and took several large copper mines.
Since then, Wang Wenyin has opened up the upstream and downstream of the industry. Later, the price of copper rose sharply, and Wang Wenyin also picked up a big bargain. Since then, Wang Wenyin has continued to expand, acquiring more and more copper mines. He also became the world's bronze king.
Wang Wenyin's Zhengwei Group has not been listed as a whole. It is precisely because Wang Wenyin is strong that he can not go public. In fact, what China lacks is Wang Wenyin's industrial boss. Too many people in China now are people like Xu Jiayin.
What we lack now is doers, and over the years, Chinese businessmen have gone to the Internet and real estate, but in fact, such industries, these industries have not helped our economy to increase its influence in the world. The owner of Nongfu Spring said that in fact, China's economy has been taken astray by this.
I hope that in the future, China can have more doers like Wang Wenyin. In fact, for these real doers, we should give more support and understanding.