The life of mainland real estate developers is not very good at present, after the emergence of the three red lines, their financial pressure is very huge, from Huaxia Happiness and Taihe Real Estate have successively had problems. In addition, there is the big thunder of the richest man.
See here you understand the wisdom of Hong Kong real estate developers, these real estate developers have survived several real estate cycles, they can persist until now it is not easy, their understanding of real estate is much deeper than that of mainland real estate developers. In the past round of rising cycles, Hong Kong real estate developers have insisted on not blindly expanding, maintaining the company's cash flow, while controlling the debt ratio.
At the same time, they also sold a lot of assets at a high level. In 2012, Li Ka-shing took the lead in selling assets, and many Hong Kong properties have followed suit. In 2015, several major Hong Kong real estate developers concentrated on cashing out, and the receivers were all the richest people in Xu, who were close to them.
Nowadays, Hong Kong real estate tycoons are greatly underestimated, and the most undervalued today, in addition to Li Ka-shing, is Cheng Ka-chun. The development of the new world controlled by Zheng Jiachun is now also greatly underestimated.
Today, Zheng Jiachun's cash deposits in the bank are as high as 67 billion. How many rich people in China today dare to say that they can have more money in the bank than Zheng Jiachun? It is estimated that there are no more than 5. Zheng Jiachun's 67 billion yuan eat interest every year, and he can at least earn 1 billion.
Cheng Ka Chun is the eldest son of Hong Kong jewelry king Cheng Yu Tong. After Zheng Yutong's death, Zheng Jiachun took over the huge New World and Chow Tai Fook. Cheng now controls six listed companies, including New World Development, New World Department Store, New World Creation, Chow Tai Fook and more.
Zheng Jiachun's apparent wealth is 20 billion US dollars, in fact, his real strength is at least more than 50 billion US dollars. In addition to his $67 billion in cash, Mr. Cheng has more than 9,000 mu of land on the mainland, much of which is concentrated in the Three Old Renovation Projects in the Greater Bay Area. These plots alone are extremely valuable.
In the second generation of Hong Kong's four major families, Cheng Jiachun is the oldest, because Cheng Jiachun's father, Zheng Yutong, gave birth to him at the age of 20. Zheng Jiachun, as the eldest son of the family, is actually very pitiful, because his father Zheng Yutong lived for 91 years, and he also worked until he was more than 80 years old before retiring. Therefore, Zheng Jiachun was the prince for 71 years.
When Zheng Jiachun was born, his father Zheng Yutong was still running a small Chow Tai Fook jewelry. Chow Tai Fook Jewelry was founded by Cheng Ka Chun's grandfather, Chow Chi Yuen. Zheng Jiachun's mother, Zhou Cuiying, and her father, Zheng Yutong, were married.
Zheng Jiachun has been learning to do business with his father since he was a child, and when Zheng Jiachun grew up, his father's business became bigger and bigger. Chow Tai Fook jewelry stores began to open all over Hong Kong, and when Cheng Ka Chun was in his 20s, his father, Cheng Yu Tong, began to enter the real estate industry. At that time, Zheng Yutong and a few friends set up New World Real Estate.
Cheng Jia chun also began to help his father in real estate. In the 1960s, hong Kong's property market fell sharply, and it was very turbulent at that time, and many people chose to emigrate and sold a large number of properties. Zheng Yutong took the opportunity to copy the bottom and bought a large number of properties. As a result, by the end of the 1960s, the situation began to stabilize, Zheng Yutong's property prices began to rise, and his personal wealth also soared.
In 1972, Zheng Yutong successfully led New World to be listed in Hong Kong. Soon after, Zheng Yutong began to plan retirement. Zheng Jiachun, 40, was given the opportunity to take over. Perhaps after waiting too long, Zheng Jiachun began to carry out drastic reforms as soon as he took office, and acquired a number of companies.
However, Zheng Jiachun did not see the situation, and before 1984, the Hong Kong property market once again fell into a downturn. Cheng's acquisition resulted in a lot of debt for the company. Zheng Yutong was already ready to travel around the world, but he had to go back to the mountains, and Zheng Jiachun could only become his father's assistant again.
As soon as Zheng Yutong came out of the mountain, he stabilized the overall situation. How exactly Zheng Jiachun's ability is has always been a mystery, and many people think that he is just a second ancestor, especially after Zheng Jiachun was with Wang Jieyu. Wang Jieyu is Liu Luanxiong's former girlfriend.
Wang Jieyu is the daughter of Hong Kong barrister Wang Jianqiu, who is also a high-achieving law student and worked as a lawyer in Hong Kong after graduation. Later, she and Liu Luanxiong came together, and the two people had a very good relationship at that time. Liu Luanxiong also often took Wang Jieyu to Zheng Yutong's home to play cards, and Wang Jieyu was very familiar with Zheng Yutong and Zheng Jiachun.
Wang Jieyu is a person with average looks, but she is very means. At that time, she quarreled with Liu Luanxiong, and she asked Zheng Yutong for help every time, and Liu Luanxiong respected Zheng Yutong very much. Every time Wang Jieyu looked for Zheng Yutong, Zheng Yutong asked Liu Luanxiong not to worry about the little girl.
Liu Luanxiong later told the media that Wang Jieyu was now powerful and had found a big backer. Later, Liu Luanxiong felt that Wang Jieyu loved money too much, so he broke up with her. At one point, Wang Jieyu also threatened Liu Luanxiong with suicide. People did not expect that Wang Jieyu was still going to live and die for Liu Luanxiong in front, and soon after she was with Zheng Jiachun.
Zheng Jiachun has long been married, but his relationship with his wife is average, and after the two have 3 children, they have been playing each other. Later, Zheng Jiachun was with Wang Jieyu, and the two of them also gave birth to two sons.
However, we cannot ignore Zheng Jiachun's ability in the business world because of this matter. Although the first succession of Zheng Jiachun was wrong in strategy, the second succession, Zheng Jiachun's performance is still remarkable. In 2012, Zheng Yutong suddenly suffered a stroke and was admitted to the hospital.
It is said that the stroke was caused by Zheng Yutong's grandson Zheng Zhiheng. This Zheng Zhiheng has always been very absurd, his girlfriends are continuous, and there are many things, when a woman carries the child to the Zheng family mansion, saying that the child is Zheng Zhiheng's, asking Zheng Yutong to give money. Zheng Yutong suffered a stroke and was admitted to the hospital.
After this, although Zheng Yutong was still in charge of some of the company's affairs, most of the things were managed by Zheng Jiachun. The asset cash-out in 2015 was actually led by Zheng Jiachun. At that time, Zheng Jiachun sold more than 30 billion assets, although it seemed to be a discount sale, but this made New World return a large amount of cash.
In addition, Cheng Ka Chun also promoted the listing of Chow Tai Fook and invested a lot of money in the mainland to build office buildings. Cheng Jiachun is now in the mainland, the basic strategy is half real estate, half commercial real estate, while selling many non-core projects, heavy positions in the Greater Bay Area.
In addition, one of the things that Zheng Jiachun did most correctly was to reuse his son Zheng Zhigang. Although Zheng Zhigang is young, his ability is indeed outstanding. In fact, Zheng Jiachun is definitely not the second ancestor, and his ability and wealth are greatly underestimated.