Spanning more than 80 years and standing unshakable in the rolling torrent of history, the Far East Xu family, which is "rich for three generations", currently has more than 200 companies and more than 60,000 employees; if you want to find a family comparable to Hong Kong Li Ka-shing in Taiwan, it is the Xu family in the Far East.
From Shanghai Beach to Taiwan Island, rich for three generations, today we introduce a lifelong Haimen business stranger who has been following the example of Zhang Xiao - Mr. Xu Youyu, the founder of the Far East.
From Shanghai Beach to Taiwan Island, Jiangsu Haimen bred a commercial stranger
Xu Xudong (center), chairman of Far East Group, and Huang Qingwen, soGO department store, and other management teams
After more than 80 years of ups and downs in the Far East, from Shanghai Beach to Taiwan Island, time flies, the years are like shuttles, and the vision and temperament of the Xu family in the Far East in more than 80 years are enough for more family businesses to absorb, use and borrow mirrors.
Originally founded in Shanghai in the 1930s and resumed in Taiwan in 1949, its career now spans multiple industries and fields, and its influence on the daily food, clothing, and housing of the general public is comparable to that of the Li Ka-shing family in Hong Kong.
At present, far east group's industrial structure covers petrochemical energy, polyester chemical fiber, cement building materials, retail department stores, sea and land transportation, construction, sightseeing hotels, financial services, communication networks and social welfare and other more than 10 major business systems, with Far East New Century, Asia Cement, Far East Department Store, Far East Bank, Oulian Chemical, Yumin Shipping, Hongyuan Xingye, Yuanchuan Telecom and Ya Ni China and other 9 listed companies, it also has more than 200 subsidiary companies, more than 60,000 employees.
From the Far East, which actively laid out the mainland market in the 1990s, the industrial layout has formed textile, cement and retail as the main axis of development, such as Yuanfang Industry (Shanghai), Yadong Cement in Sichuan, Hubei, Jiangxi and Yangzhou, Jiangsu, and so on.
Overseas, Far East established Far East (Vietnam) Garment Company in Vietnam in 2007, and in 2012, Far East New Century and Japan's Ishizo Nitrate Subsidiary jointly established Far East Ishizuka to engage in PET polyester slice recycling business.
It is amazing that for decades, the Far East has stood unshakable in the torrent of history, and it has not had a badly run bad company, which is a major business miracle.
Far East founder Xu Youyu (1st from right) and second-generation successor Xu Xudong (2nd from right)
"Create a lifelong career, the footprints of a gentleman", Xu Youyu (1911-2000), the founder of the Far East, was born in 1911, born in the era of change, from the old era into the new era, in his 90-year-old life, witnessed the history of the big era.
With the entrepreneurial spirit of "sincerity, diligence, simplicity and prudence" and great cleverness, Xu Youyu has continuously turned crises into turning opportunities, turning opportunities into business opportunities, and successfully building a business empire in the Far East. While creating a successful career, Xu Youyu also showed the demeanor of a big entrepreneur, and he most admired his Jiangsu compatriots, resigned from his hometown, returned to his hometown, devoted himself to local construction, and the national industrialist Zhang Xiao, and used Zhang Xiao to learn from himself all his life.
Xu Youyu, born in 1911 in Jiangjia Town, Haimen County, Jiangsu Province (now Haimen District, Nantong City), has been a farmer for generations, until his father Xu Yuanzhi's generation, the family first involved in business. Xu Youyu is the eldest son in the family, and there are younger brother Xu Weiyuan and younger sister Xu Huilan.
Xu Yuanzhi is a person who has been educated by Confucianism, when Xu Youyu was young, his father taught him the way of Confucius and Mencius with the principle of "establishing oneself and standing up for oneself, oneself wanting to reach one's own", and his Yin Yin teachings had a great impact on his future entrepreneurship, life, and work, so he had the evaluation of "creating a lifelong career, the footprints of a gentleman and a gentleman".
Xu Youku was born in a turbulent era, two months after his birth, the Wuchang Uprising was successful, the Manchu Qing Dynasty ended, the Republic of China era he experienced eight years of war of resistance, the Kuomintang civil war, and the defeat of the Chiang Kai-shek Dynasty on the island of Taiwan, after which he experienced the oil crisis, financial crisis, and also saw too many peers, giants ups and downs, buildings and buildings collapsed, but he with the spirit of enterprising spirit, unique business style, and entrepreneurial courage, became an unprecedented success of the business wonder man.
Xu Youku (center) accompanied Yin Zhongrong and others to visit Far East Textile (Banqiao Factory)
Although the family was not well-off, his father Xu Yuanzhi still let Xu Youxiu finish middle school in the private Haimen Middle School, and after graduation, in order to reduce the burden on the family, he went to a cotton grain shop as an apprentice, and he was deeply appreciated by the boss, and he was sent to Shanghai to promote business, which also changed the trajectory of his life.
Hardworking and enterprising, Xu Youyu, who gained a firm foothold in Shanghai Beach within a few years, gave up the opportunity to promote, resigned to start a business, and founded the "Tongmao Flower Grain Company" in Shanghai at the age of 26. Shanghai is a five-port treaty port, an export of the Yangtze River Basin, and the earliest area in China to develop the textile industry. In old Shanghai, there were many exchanges for the purchase and sale of bulk materials, and there were initial securities futures. In order to deal with foreigners, Xu Youyu specially asked the teacher to tutor his six apprentices in Chinese and English.
After operating for a period of time in the grain bank, Xu Youku merged the "Tongmao Flower Grain Company" with the Tongsheng Gauze Company to establish "Datong Cotton" in 1945, and founded the "Far East Weaving" in Shanghai in October of the same year to produce bungalow brand underwear. Later, he successively opened the Tongshengtai Machine Oil Mill, the Huimin Vegetable Oil Factory, and founded the "Huafeng Securities Investment Company" to engage in stock trading. At that time, Xu Youyu, who had his career, was already one of the richest people with a small reputation in Shanghai Beach.
After relocating to Taiwan in 1949, Xu Youku started again with the textile industry, dismantled the equipment of the Shanghai factory and moved it to Taipei County, Taiwan Province, and founded the Far East Knitting Factory to operate the production of knitwear. Later, taking advantage of the preferential development of textile industry policy convenience, he invested in 10,000 spindle mills to produce cotton yarn, cotton cloth and so on. In 1954, Xu Youku integrated the knitting factory with Far East Textile and founded "Far East Textile".
In 1960, Xu Youku (3rd from left) accompanied Chiang Ching-kuo (4th from left) to inspect the Ya Ni Hsinchu Factory
On the basis of Far East Textile, at the end of the 1950s, Xu Youxiu founded Asia Cement, since then his business strategy has always followed the trend of the times, and made appropriate adjustments, the Far East has also stepped into the field of science and technology from the traditional field, from manufacturing to services, finance and other industries, from the island to the mainland and overseas markets.
"Sincerity, diligence and prudence" is a unique business philosophy summed up by Xu Youyu in business practice, these four words seem simple, but the connotation is rich, broad and profound, and it is also the enterprise spirit of the Far East.
"Sincerity", that is, "integrity and decency". In 1958, a fire broke out in the Textile Factory in the Far East and almost burned it; at that time, Xu Youyu was investing in the establishment of Asia Cement, and the financial pressure to borrow money from the bank was high. Many suppliers see the Far East textile fire, worried that there will be no return, and there will be a run crisis at any time. Xu Youyu stood on the scorched scene and said to everyone, "I must stand up again"; at the same time, he obtained bundles of cash from the bank and put them in the company, waiting for suppliers to settle at any time. That is, this "sincerity" is saved from a run crisis.
"Diligence" means "diligence and concentration", when the Far East Enterprise Headquarters Building was built in 1993, Xu Youku, who was already an octogenarian, inspected the construction site every week. He contracted cancer in 1985 and was hospitalized at the University Hospital of Utah in the United States, where he was treated three times a year. At that time, Xi Jiayi, vice president of Yuanfang, went to the United States to see him, pushed a wheelchair to let him go outdoors to bask in the sun, and when he turned back, Xu Youyu stuffed in his palm of his hand was a small note full of 15 explanations. He said: "Work is fun, and only seriousness is the greatest cost of a person's success." ”
"Park", literally, can be regarded as simple, but in Xu Youxiu's mind, there is a deeper meaning, is an Oriental philosophy, a person should be simple, modest, low-key, is a great wisdom. "Cautious" means "cautious and forward-looking". From Shanghai Beach to Taiwan Island, the Far East has never stopped investing and never stopped looking forward. He said: "To see what people have never seen, as long as you look at the market, step ahead of people, the chance of winning is greater." ”
Xu Youyu, a business wizard bred in Haimen, Jiangsu Province, loves cotton the most, and cotton is also a crop in his hometown of Haimen, and he has a special affection for cotton. He said: "The root of my enterprise, the spirit of my enterprise, is cotton. He analyzed the "spirit of cotton" in this way: cotton is simple in nature, has no rich fragrance, has no brilliant colors and shapes, but provides the most warmth for human beings.
Live to the old and work to the old, and the intergenerational inheritance is eclectic
Yuanzhi University
Chairman Mao once said: Light industry cannot forget The Zhang Jiao of Haimen.
In Xu Youyu's life, the most respected person is Zhang Xiao, a famous industrialist in modern China. Zhang Xiao's words "Father education, mother industry" also deeply influenced him. While promoting industry, Xu Youyu founded the Mr. Xu Yuanzhi Memorial Foundation in 1977 in the name of his father to reward outstanding talents in education, culture and science and technology. The following year, he founded the Mr. Xu Yuanzhi Pharmaceutical Foundation to subsidize people who have difficulty in seeking medical treatment.
Only education can cultivate talents, and talents are the foundation of industry. In 1969, following in the footsteps of the exemplary Zhang Xiao, he founded the "Yadong Engineering College", and in 1989, he established the Yuanzhi Institute of Technology, which is now the "Yuanzhi University" in Taoyuan Zhongli. On the occasion of his father's 100th birthday, he set up the "Yuanzhi Kindergarten" in Banqiao. Prior to his death, he was the chairman of Mr. Xu Yuanzhi Pharmaceutical Foundation and the chairman of "Far Eastern Institute of Technology".
Xu Youyu once said before his death: "For individuals and the country, it is a pity that many people cannot get an education. ”
Xu Xudong, the second generation helmsman of the Far East Group
Xu Youxiu, one of the representatives of the "Shanghai Gang" on the island of Taiwan, lived until he was old and old, and did not arrange for the shift until 1993, when xu Xudong, the eldest son of the second house, took over the baton and "helped the horse to send a ride", until his death in 2000, life was not stopped, and the struggle was endless.
Xu Youku, who has a second wife, has a total of 5 sons and 4 daughters, all of whom have their own successes.
Zhu Shilan, the wife of Depai, is a native of Qidong, and married Zhu Shilan in the same year when Xu Youxiu and his friends founded the first business in the Far East, "Tongmao Flower Grain Line". Mrs. Dafang Zhu Shilan has two sons and three daughters, namely Xu Xushi, the eldest son of Dafang, Xu Xujiu, and three daughters Xu Tangerine, Xu Hefang and Xu Xuefang, and also adopts a daughter Xu Jinfang.
For example, Mrs. Xu Huiying has five sons, namely Xu Xudong, the eldest son of the second house, that is, the second generation of the family helmsman and the chairman of the Far East Group; The second son of the second house, Xu Xuming, the third son, Xu Xuping.
Xu Xuefang, General Manager of Far Eastern Department Store
Xu Youyu was handed over to Xu Xudong, the eldest son of the second house, in 1993, breaking the traditional inheritance system of giving priority to the eldest son, so "eclectic" layout intergenerational inheritance, and now it seems to be successful.
However, Xu Xushi, the eldest son of the big house, vigorously rebounded from his father's succession arrangement, and in a fit of anger, he sold his equity and flew away, never to worry about the family business. Xu Xushi once lectured at Tsinghua University and served as the general manager and vice chairman of Ya Ni.
In general, when Xu Youxiu took over the baton in the second generation, although he chose Xu Xudong as his successor, he generally adopted the model of "division of labor and division of work without separation of families", and the children were more in charge of one party and jointly managed the family business. For example, the third son, Xu Xuming, served as deputy general manager and general auditor of Far East New Century (formerly Far East Textile), the fourth son, Xu Xuping, was the vice chairman of Far East New Century, and the fifth son, Xu Xujiu, worked in the Ya Ni Procurement Office, and later went to Hong Kong to do business and started a business on his own.
The eldest daughter, Xu Jinfang, died in 1992 and previously served in the United States after completing her studies in the United States. The second daughter, Xu Jufang, was the vice president of Far Eastern Technical College and died in 2020, and her late husband Yang Mingde served as an executive in Far East New Century and Yuanchuan Telecom. The third daughter, Xu Xuefang, was once the general manager of Far Eastern Department Store, and her husband, Myrrell, engaged in international trade. The fourth daughter, Xu Xuefang, is currently the general manager of Far East Department Store, and her husband, Xi Jiayi, is the chairman of Far East's "Hongyuan Xingye" and the vice chairman of Far East New Century and OUCC Chemical.
Xu Xudong
Xu Youxiu, who grew up in a turbulent era, was humble and diligent all his life, and Xu Xudong, the second-generation helmsman, had the wind of a father. Xie Jinhe, chairman of Caixin Media, once said that among the taiwanese business tycoons, it was not Gou Taiming, nor Zhang Zhongmou, but Xu Xudong.
Xie Jinhe said that a friend asked him who was most impressed by the Taiwan enterprises he had watched for 30 years, and his answer surprised many people deeply, choosing Xu Xudong, the second-generation helmsman of the Far East. Xie Jinhe said: First, Xu Xudong personally led the team to stand in the front line and work hard for more than 30 years, and he is still full of energy and high morale, and has never been tired.
The second is that Xu Xudong has a way of health, 30 years ago, he was like this, and now he is not old, and he is full of vitality every day.
Xu Xudong, born in 1941, is 80 years old, and most entrepreneurs of his age have long retired to the second line, and he fights every day, which is his never-ending life.
Third, since the founder Xu Youyu started his business in Shanghai in 1937, for more than 80 years, far east has covered almost all traditional industries, but in the fierce competition, but there has never been a badly run rotten company, this group has stood firm after more than a century, which is admirable!
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