After tossing for 16 years, losing NT$19.1 billion, saying what is "stepping back from the sea and the sky", that is just comforting himself, 71-year-old "rich second generation" Wu Dongliang has too much peace and helplessness, perhaps, for him, Changhua Bank is a "lover without luck", it is time to say goodbye.
Recently, Taixin Financial Holdings got rid of all the shares held by Changhua Bank and withdrew from the market at a loss, but the grievances and losses suffered based on the Zhangyin case were ignored.
Saying goodbye to Changhua Bank, "rich second generation" Wu Dongliang withdrew from the market
Wu Dongliang, chairman of Taixin Financial Holdings
In Taiwan, there are four major financial controls of "Wu Gu Cai Hua". "Flower" refers to Citibank in the United States, which belongs to foreign capital, and the rest are local financial holding families, namely the Wu family of Shin Kong Financial Holdings, the Gu family of CITIC Financial Holdings, and the Cai family of Fubon Financial Holdings. In the financial field, the influence of Wu, Gu and Cai is everywhere.
Xinguang, which started in a commercial bank, was founded by Mr. Wu Huoshi, who was full of legends in his life. The entrepreneurial spirit of Shin Kong Group is the "sixteen-character motto" of founder Wu Huoshi - "maintaining the status quo is lagging behind, as long as there is optimism, there is hope." ”
Wu Huoshi had four sons, and when he died in 1986, due to the suddenness of the incident, he did not leave a will, and it was too late to explain the affairs after his death, and later his wife, Wu Guilan, who was known as "Grandma Shin kong", presided over the separation of the family and the property. The four brothers of the second generation of the Wu family each received a piece of territory, and the brothers have been climbing the mountain for 35 years now. Wu Dongliang, who is currently the chairman of Taixin Financial Holdings, is the third son of Wu Huoshi and the "second generation of the rich" of the Wu family, who later founded The Taixin Bank and then established the "Taixin Financial Holdings".
On the 2021 Forbes Taiwan Rich List, 71-year-old Wu Dongliang is worth $1.57 billion, more than his 76-year-old brother, Wu Dongjin, who controls Sunbeam Life and Sunbeam Financial Holdings, who is worth $1.3 billion.
Su Zhenchang
There is a Minnan saying: "Fart and calm the dog's heart", after a year, Wu Dongliang may realize that this is not bad.
After the shareholders' meeting on July 23, Lin Weijun, general manager of Taixin Financial Holdings, released the idea of hoping to withdraw from the market without suffering losses and hoping that the government could compensate moderately. However, it was subsequently refuted by the Taiwan financial authorities as unreasonable.
On July 25, Taixin Financial Holdings issued a statement again, emphasizing that 16 years ago, the company was in the most difficult moment of Changhua Bank, cooperating with government policies to contribute money to deal with the problem of Changhua Bank and rescue the contribution of Changhua Bank, but so far it has not been squarely faced and affirmed by the organizers, which is a fact that Taiwan's financial authorities have been unwilling to admit. Earlier, Taiwan's financial authority said that Taixin Financial Holdings sold its shareholding in Changhua Bank for the purpose of acquiring Prudential Life, and its investment costs, pros and cons, and it was appropriate for it to bear its own responsibilities.
Regarding Taixin Financial Holdings' request for compensation, the competent financial authority stressed that its "grievances" and losses were inconsistent with the facts. At the shareholders' meeting on July 23, Lin Weijun, general manager of Taishin Financial Holdings, revealed that he had lost NT$19.1 billion in handling the Zhangyin case. Not letting Taiwan New Financial Holdings suffer losses and withdraw from the market is the previous commitment of Su Zhenchang, the head of Taiwan's administrative department. In August 2020, Su Zhenchang had two instructions: one is not to give Changhua Bank to Taixin Financial Holdings, and the other is to let Taixin Financial Holdings not suffer losses and withdraw.
Times have passed, Taixin Financial Holdings has now achieved the first one, that is, to get rid of the shareholding of Changhua Bank, while the second one su Zhenchang said, but it cannot be done, and the current one is "farting and dog heart"! Taiwan New Financial Holdings and its leader Wu Dongliang suffered a loss, in addition to expressing "regret", what can it be?
Wu Dongliang and Changhua Bank have been entangled in 16 years of heartache
Wu Dongliang (right) and his wife Peng Xuefen (left)
In 2005, Wu Dongliang's Taishin Financial Holdings played the role of "takeover man", investing in the dying Changhua Bank and obtaining the right to operate, and on December 8, 2014, it lost the right to operate Changhua Bank and the dispute has been unresolved so far, although the acquisition of 100% of the shares of Prudential Life on June 1 in the future was approved after a series of twists and turns.
For Wu Dongliang, taking Prudential Life into his arms and bringing it into the Taiwan-Singapore family, the complete financial control territory will be constructed, and it has financial licenses such as banking, securities, and insurance, but there is a condition that Changhua Bank must be abandoned. After tossing and turning for 16 years, or to say goodbye to Changhua Bank, it is like saying goodbye to the "lover who has no luck", 71-year-old Wu Dongliang has too much bitterness and grievances.
In fact, since the acquisition of Changhua Bank in 2005, Under the joint blocking of Taiwan's financial and financial management authorities, Taixin Financial Holdings has been stuck, and one card is 16 years, for Wu Dongliang, if it is stuck in a thorn in the throat, it cannot be swallowed and cannot be spit out, which is uncomfortable!
As early as 2013, there was a rumor on the island of Taiwan that "Cai Mingzhong ate well, Wu Dongliang ate bad", like the last scene of Stephen Chow's movie "Wei long breaking into the sky", which exhausted the ugly side of the officialdom. At that time, even if there was a lack of Taiwan New Financial Control, the penalty was also punished; at that time, Wu Dongliang promoted the merger of Changhua Bank and Taishin Bank, and Chen Yuzhang, who was then the chairman of the financial management department, said that the relevant application case "did not have to be sent", and the situation was decided before trial, and the fetus was stillborn. At that time, Wu Dongliang wanted to compare the "Fubon model" and merge Changhua Bank, but the fact was that "Cai Mingzhong did everything, Wu Dongliang did not do it". Cai Mingzhong was the boss of the two Fubon brothers, and was the helmsman of Fubon Financial Control at that time.
In that year, Wu Dongliang defeated Singapore's Temasek and successfully won the bid to join Changhua Bank. However, the competent authorities adopted a "procrastination decision" on the merger of Changhua Bank from the very beginning, and not only did not approve the merger of Changhua Bank with Taixin Financial Holdings, but even said no to the merger of Taihua Bank. Many people said that if it was Temasek that won the Changhua Bank, would the financial management department dare to say "no"? Eat the persimmons softly!
Wu Dongliang's second son Wu Xinhao and Hu Yilian got married
Wu Huoshi, the founder of Xinguang Group, was born in Dongshitan, Hsinchu City, Taiwan (now the north side of Guangfuli, East District, Hsinchu City), Wu Dongliang is the second generation, Wu Dongliang's wife Peng Xuefen, was once a popular jade actress, after marriage, she "went to the meeting with a single knife" to rescue her kidnapped husband Wu Dongliang, which became a good story.
Wu Dongliang and Peng Xuefen now have a third generation, the second son Wu Xinhao's wife Hu Yilian gave birth to a son in 2016, Peng Xuefen, who held the "golden grandson", and the grandson's birthday is only one day away, also known as the "most beautiful mother-in-law".
Wu Dongliang and Peng Xuefen have two sons, the eldest son Wu Xinwei has lived overseas for many years, and Wu Xinwei, who has a greater interest in art, is not willing to succeed. The second son, Wu Xinhao, became a director of Sunbeam Financial Holdings, who was helmed by his uncle Wu Dongjin, and was also the third-generation successor of the Wu family who was more likely to take over Wu Dongliang's career.
In October 2015, Wu Xinhao married Hu Yilian, the only daughter of former development general manager Hu Dingwu, and the luxurious wedding banquet was held at Mandarin Oriental Hotel, Taipei, with 90 tables and thousands of people present.
Photographs of Peng Xuefen's early years
In 2019, affected by the "separation of gold and gold" policy, Peng Xuefen voluntarily resigned as a director of Sunbeam Financial Holdings. Previously, the financial management authorities requested a deadline for rectification, because her husband Wu Dongliang was the management level of Taixin Financial Holdings, and as a related person, she could not work in more than two financial holding companies.
Peng Xuefen was excavated by star scouts at the age of 17, filmed advertisements, and later played the heroine in the movie "The Boy Who Refused to Take the Examination", and her sweet and beautiful image became a hit and swept all over Taiwan. When her career was in full swing, she married Wu Dongliang, a young owner of the Sunbeam Group who was 10 years older than her, and once settled in the United States, and only returned to Taiwan after giving birth to her eldest son, Wu Xinwei.
In 1990, Wu Dongliang was kidnapped in front of his home, and the kidnappers demanded a ransom of NT$100 million and threatened not to call the police. Peng Xuefen was single and fought with the kidnappers to let her husband go home safely. At that time, she had just finished the uterine pregnancy surgery, her body had not yet recovered, and she went out to the car halfway, the wound was cracked, and the blood was direct on the spot, but she was still calm and calm, and she saved her husband home single, at the age of 30.
Entered the show business at the age of 17, married into the giants at the age of 24 and gave up the entertainment career, 30 years old single to save her husband, but also because of proper maintenance, the style is still the same, Peng Xuefen was called "the most beautiful Dong Niang" by Taixin Financial Holdings. In April this year, as the wife of the chairman of Taishin Financial Holdings, she led the 21-kilometer half marathon "Taishin Women Run Taipei" held by Taishin Bank.
Changhua Bank
On July 20, at the shareholders' meeting of Changhua Bank, chaired by Ling Zhongyan, a surplus distribution plan totaling NT$0.46 was approved. Last year, Changhua Bank's net income was NT$27.317 billion, a new low in the past six years.
Changhua Bank was founded on June 5, 1905, by the then Changhua wu ruxiang entangled with the local gentry of central Taiwan to raise funds, headquartered in Changhua, has been 116 years. On January 1, 1999, Changhua Bank was restructured into a private sector, and later, the bank switched to investment in financial and insurance business, and the bank had branches in Nanjing, Kunshan, Dongguan, Fuzhou and other places in the mainland.
Taishin Financial Holdings, the full name is "Taishin Financial Holdings Co., Ltd.", the core member is Wu Dongliang in 1990 with close friends and business circles founded the Taisz Bank, there are also Taixin Securities, Taishin Investment Advisory (Note: mainly water drop credit), Taixin Investment Credit, Taixin Venture Capital, Taisin Asset Management and so on.
In 2004, Changhua Bank's non-performing assets amounted to NT$69.2 billion and its net value was NT$74.8 billion, which was unable to meet the target. In 2005, the bank handled a cash increase private placement to issue 1.4 billion shares of B-type named special shares, and in July 2005, Wu Dongliang's Taishin Financial Holdings defeated another competitor, Temasek, to bid for NT$36.5 billion for The Special Shares of Changyin, becoming the largest shareholder of Changhua Bank, which was the beginning of his 16-year history of entanglement with Changhua Bank.
In the future, the public power intervened with a "third party", which changed the love affair between the two sides, although the 2014 Taiwan New Changyin case was closed and the conclusion that the new gold did not violate the law was issued, but the Taiwan financial authority "Bird Occupy Dove's Nest" refused to transfer the right to operate. Later, Taixin Financial Holdings recognized the investment loss of NT$14.8 billion, and the two sides went to court and entered the judicial proceedings.
The "Zhangyin case" has not been solved, and Wu Dongliang, who has been playing with public power for many years, has done everything "inappropriately". Taixin Financial Holdings has a number of expansion and merger plans, because it cannot be approved to "kick the iron plate", and the arm cannot twist the thigh! The stalemate lasted until Taixin Financial Holdings bid for Prudential Life for NT$5.5 billion in August 2020, and Wu Dongliang had no choice but to "break away" from Changhua Bank, leaving room for "reconciliation" between the two sides. Taiwan's "Financial Management Commission" released the "two to choose one", which is roughly Wu Dongliang's abandonment of Zhangyin, and Taixin Financial Holdings can be approved for the delivery of the equity of Prudential Life, that is to say, the Taiwan Financial Management Authority has conditional approval in approving The acquisition of Prudential Life by Taiwan New Gold - it must say goodbye to Zhangyin, a "lover who has no luck" for 16 years.
This article is a wave of original content
Unauthorized reproduction and sending of excerpts in any form is strictly prohibited