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preface
When Evergrande Group was on the verge of bankruptcy due to the rupture of the capital chain, its top office buildings were also reduced to the past.
The Evergrande LOGO, which was originally flaunting its might, has disappeared silently.
In its place, the real owner behind the building – a mysterious business magnate.
This big guy not only has 300 billion assets, but also has a star wife who is 21 years younger than himself.
While Evergrande built its headquarters in his rented office building, he kept hiding behind the scenes.
It was not until Xu Jiayin was investigated that he suddenly surfaced and became the focus of attention from the outside world.
And this big guy is Li Hua. So what kind of inextricable relationship does he have with Xu Jiayin?
The entrepreneurial history of Shenzhen real estate tycoons
Li Hua was born in an ordinary family in Neijiang, Sichuan Province, and his parents were local middle school teachers. After graduating from high school, he was admitted to South China University of Technology in Guangdong Province, majoring in civil engineering.
During college, Li Hua was diligent and studious, often soaking in the library to study late at night.
Among his classmates, Li Hua is known for his meticulousness and caution, and he is hands-on in every assignment and experiment, and never sloppy. These qualities laid a solid foundation for his later career development.
After graduating from university, Li Hua was assigned to work in the Shenzhen Youth League Committee. At first, Li Hua was satisfied with the job and thought it was a promising unit.
But it didn't take long for Li Hua to realize that his interests and abilities were better suited to the business field. At the age of 25, Li Hua decisively decided to resign and start a business.
In 1989, Li Hua founded his first company in Shenzhen, the main business is building materials sales. But due to inexperience at the time, the company soon collapsed with huge debts.
This failure made Li Hua understand that starting a business is not an easy task, and you need to study hard to achieve success.
In the early 90s, with the establishment of Hainan Province, the local real estate market was booming. Li Hua keenly seized this opportunity and moved his family to Hainan to get involved in the real estate industry.
With diligence and perseverance, Li Hua's first real estate project was a huge success and also won him his first pot of gold. After withdrawing in time, Li Hua turned his attention to the Hong Kong stock market and continued to create wealth.
At the end of the 20th century, Li Hua officially returned to the mainland to develop real estate business by virtue of the contacts and financial strength accumulated in Hong Kong.
In 1998, Li Hua founded the Excellence Group in Shenzhen, and the first project was the Excellence Côte d'Azur.
The quality of this project has been well received by the market, and it has earned the reputation of Excellence Group.
After years of steady operation, Li Hua saw the trend of vigorous development of China's commercial real estate, adjusted its development strategy in a timely manner, and began to layout office buildings and shopping malls.
The success of Excellence Times Square marks the take-off of Excellence Group's commercial real estate. Today, Excellence Group holds a large number of assets in Shenzhen and is a well-known real estate enterprise in the industry.
So why is Li Hua involved with Evergrande?
Evergrande and excellence: the complex relationship of co-opetition
Guangdong's two real estate giants, Evergrande Group and Excellence Real Estate, have maintained a delicate relationship.
As two companies that started in the same place, there is both competition and cooperation between them. This relationship becomes increasingly complex as the two businesses grow.
In the 90s of the 20th century, the predecessors of Evergrande and Excellence were private enterprises engaged in real estate development in Guangzhou and Shenzhen. At that time, the two companies were just starting out and were still competitors.
In the 2000s, under the east wind of Guangdong's rapid economic growth, the two enterprises rose rapidly and became industry giants.
In the process of expanding the country, the two companies chose different development strategies.
Xu Jiayin, the founder of Evergrande Group, is very business-driven, and he has built the company into a diversified business empire, expanding his business into culture, sports, finance and other fields. Evergrande likes high-profile exposure and actively promotes its brand.
Li Hua, the founder of Excellence Group, is relatively low-key and introverted, focusing on the steady development of the main real estate business, and has not been too involved in other fields.
The fiercest competition between the two companies is in the emerging hot real estate market in Hainan. Evergrande Group is optimistic about the development prospects of Hainan and vigorously layout the market.
Data show that in the first half of 2021, Evergrande had a total of 16 projects in Hainan, with a sales area of 3 million square meters.
Excellence Group followed suit with a major development project in Hainan, with an area for sale reaching 2.5 million square meters. The two companies competed fiercely in Hainan for land, customers and market share.
In Shenzhen, the birthplace of the two companies, the situation is different. The two companies have cooperated to develop the headquarters building project.
The project, which started in 2013 and was completed in 2016, is headed by Evergrande and Excellence Group, each using two super-high-rise office buildings. This became a sign of friendly cooperation between the two enterprises.
While cooperating in Shenzhen, there are also exchanges between the core figures of the two companies. According to reports, Xu Jiayin of Evergrande Group met Li Hua of Excellence Group by chance.
This allowed Xu Jiayin to move the headquarters of Evergrande Group to Shenzhen and lease office space for office space at Li Hua's Houhai Center of Excellence.
Despite the high-level communication, the personal styles of the CEOs of the two sides are different, which also affects the development trajectory of their respective companies.
Li Hua and Xu Jiayin's two business models
Xu Jiayin was an ambitious and enthusiastic entrepreneur, but he expanded his business too rashly, leading to the eventual collapse of the empire.
Li Hua, on the other hand, is a steady and cautious businessman who knows the laws of the industry and tries every step within his control.
In 2009, Hui Jiayin's ambitions grew, and he wanted to enter Hong Kong. So he found Li Hua and asked for help. Finally, with the help of Li Hua, Evergrande successfully went public.
But Li Hua himself did not invest directly in Evergrande because he judged Evergrande's 130 billion strategic plan to be too risky. Sure enough, Xu Jiayin eventually led to financial crisis due to overexpansion.
In contrast, Li Hua's every decision will first carry out small-scale experiments, and then gradually promote it, this "steady and steady" style allows him to gain a firm foothold in the rapidly changing market.
Li Hua gradually shifted from real estate to commercial real estate and education, seizing industry opportunities but investing prudently. In 2018, Li Hua Investment's Excellence in Education was successfully listed on the Hong Kong Stock Exchange.
As a result, Li Hua's personal wealth reached 65 billion in 2022, while Xu Jiayin was in high debt, and the empire was on the verge of collapse. Li Hua became an invisible boss in the real estate industry, while Xu Jiayin paid a terrible price.
Li Hua's steady development path eventually won, while Xu Jiayin's desperate style eventually led to failure. Two very different business models with very different results.
Looking deeper, the differences in personality and values between Li Hua and Xu Jiayin are important reasons for their different fates.
Li Hua is a pragmatic and cautious person, he will not easily believe in the so-called business opportunities, but will use his own judgment to identify opportunities and traps.
When Evergrande wanted to raise funds, Li Hua keenly saw the hidden dangers of its high investment, so he did not follow the trend and participate. Li Hua pays attention to steady and steady development, and he will gradually expand his business territory under the premise of ensuring controllability, which ensures the stable development of the enterprise.
Xu Jiayin, on the other hand, is a person with adventure and romanticism in his bones. He had boundless business dreams and ambitions, but trusted his instincts too much and ignored the risks.
In decision-making, Xu Jiayin is easily tempted by superficial business opportunities, but ignores the essence of capital operation. This caused him to suffer a lot of losses in the mall, and finally the empire collapsed.
If Li Hua represents a rational and steady business style, Xu Jiayin represents adventure and radicalism. Shopping malls are like battlefields, enthusiasm alone is not enough, but also reasonable strategy.
It is precisely with Li Hua's steady and steady strategy that he has succeeded in this business war. Xu Jiayin, on the other hand, eventually capsized due to strategic advances.
And Li Hua not only has achievements in his career, his family is also very happy, and he also married a star wife.
Li Hua's star wife Tong Xiaoyan
In 2005, Tong Xiaoyan joined an idol group called "Youth Beautiful Girl Group" and began her own acting career.
As soon as the group was established, it was sought after by the majority of young people, and various commercial performances followed.
As a member of the group, Tong Xiaoyan also became popular in one fell swoop and became the idol of many boys and girls. For a time, Tong Xiaoyan was immersed in fame and honor, and was full of hope for the future.
A year later, she chose to quit the group for the college entrance examination. Tong Xiaoyan's parents have always hoped that she can go to college instead of pursuing an acting career.
In order to realize her parents' wishes, Tong Xiaoyan decisively gave up the combination and returned to the life of a student to prepare for the college entrance examination.
Tong Xiaoyan's efforts were not in vain, and she entered the Shanghai Theater Academy to study acting.
During college, Tong Xiaoyan received an invitation from Miss Asia, and being able to participate in such a beauty contest is undoubtedly an affirmation of Tong Xiaoyan's acting skills. However, in order to graduate successfully, she passed up the opportunity.
After graduation, Tong Xiaoyan has starred in TV series such as "Island No. 7" and "Love Herb Fragrance", which has accumulated certain actor qualifications for her.
Three years later, the Miss Asia Organizing Committee extended another invitation to Tong Xiaoyan. This time, Tong Xiaoyan finally decided to accept the challenge and go to the next city in the entertainment industry for herself.
She believes that this will be a great opportunity for her to realize her dream of stardom. However, just before being selected, Tong Xiaoyan still chose to withdraw from the competition due to the attitude of her boyfriend Li Hua.
It turned out that Li Hua hoped that Tong Xiaoyan could invest in the family instead of getting too involved in the entertainment industry. Li Hua is a successful entrepreneur, he believes that his wife should accompany him, not suitable for long-term in the prosperous entertainment industry.
Although she gave up the opportunity to develop in the entertainment industry, Tong Xiaoyan was also accompanied by Li Hua. Now Li Hua has a successful career, and Tong Xiaoyan has become his virtuous wife.
Looking back on her choice, Tong Xiaoyan does not regret it. Because what she has now is far more precious than her dream of stardom.
For Tong Xiaoyan, the happiness of the family is more important than fame and fortune, and choosing Li Hua is the most correct decision in her life. This is her new life.
summary
The story of Li Hua and Xu Jiayin raises a question worth considering: What is the secret of success? Is it steady prudence, or bold aggressiveness?
Everyone has their own outlook on life and value pursuit, and it is important not to lose yourself and stick to your inner beliefs. No matter what the road ahead, keep a kind and benevolent heart.