Minshang Daily reporter | Li Jianping comprehensively sorted out the report
On October 15, the Fujian Federation of Industry and Commerce released the "2021 Fujian Top 100 Private Enterprises", and Fuxin Group Co., Ltd. ranked 18th in the list with a revenue of 22.1 billion yuan.
How did Wu Di, chairman of Fuxin Group, lead the company to achieve a parallel between finance and real estate?
01
Position Fuxin with a forward-looking eye
In 1993, Mr. Chen Zhanghui, deputy director of the Organization Department of Xiamen Fisheries College, who had already gone to sea, founded Fuxin. At that time, almost all the people who followed him had latte rice bowls, and Wu Di was one of them.
"Mr. Chen Zhanghui is also a teacher and a friend to me." Wu Di recalled that whether he was a student leader at the university or returned to the northeast after graduation to work in the system, he and Mr. Chen Zhanghui often discussed the future development of the country.
"Doing things that benefit the country and the people" has become their consensus. In October of the same year, Fuxin Company's first real estate development project, Xiamen Jimei Fuxin Mall, held a groundbreaking ceremony.
Why choose Jimei Pioneering?
"At that time, almost all of Fuxin's gang came out of Jimei and had a feeling for that land." Wu Di said.
In the early 1990s, Xiamen developers' marketing methods were still in the primitive stage, and there was no awareness of using advertising. For home buyers, community support, landscape, property management is still an unfamiliar concept. At that time, the public's understanding of housing was still stuck in the model of "government housing", and there was basically no awareness of enjoying the living environment.
However, Fuxin proposed the concept of "livability" as soon as it made a move. Fuxin Mall planned and designed the atrium of the community from the beginning. So far, the residents there still praise the design of Fuxin Mall: "Compared with the surrounding communities, Fuxin Mall is a quiet environment in the downtown area, and the people who live here are not complicated."
In recent years, countless old communities have been noisy because there was no planned parking space at the beginning, and the owners were noisy because they had nowhere to park. And Fuxin's forward-looking has shown a hand to people in the planning of parking spaces. Since 1993, Fuxin Mall has developed small high-rise elevator rooms with underground parking lots.
Hong Kong real estate king Li Ka-shing said: "In addition to the location of the house is still the lot, other things can be copied, only the location can not be copied." "Today we look back at the Taoyuan Building on Taiwan Street and the Silver Dragon Plaza in Houdaixi, which are all landmarks in the area. However, when Fuxin chose these two plots to develop, there was not a single building with more than 3 floors in the area. The location that Li Ka-shing said is actually a vision.
Whether it is the planning and construction of residential areas or the choice of plot location, Fuxin shows his unique and discerning side. Since then, the real estate developed by Fuxin has become a sought-after commodity.
As early as the 1990s, Fuxin put forward the advanced strategic planning positioning of "taking finance as the engine, real estate as the main industry, and high-tech industry as the orientation".
In 1995, Fuxin, as one of the initiators, took a stake in China's first private bank, Minsheng Bank, and even from 2003 to 2005, when the domestic real estate industry was developing rapidly, Fuxin also insisted on holding shares in Minsheng Bank.
This attempt opened the door of finance for Fuxin, and also laid a solid foundation for Fuxin to deepen the financial industry.
In the past 10 years, Fuxin has successively invested in a number of national banks and insurance financial institutions such as Bank of Communications, Yongan Insurance, Kunlun Insurance, etc., as well as local commercial banks such as Hankou Bank and Hangzhou United Bank, and invested in several leading PE private equity funds registered in Beijing, Shanghai and other places.
It can be said that in terms of the type and scale of financial investment, Fuxin has consolidated its leading position in private enterprises in Fujian Province.
02
Turn the crisis into an opportunity and reinvigorate it
In the eyes of the outside world, Fuxin seems to be smooth sailing, but in fact, Fuxin has experienced two crises.
In 2000, Mr. Chen Zhanghui, the founder of Fuxin, died of illness at an early age. At the same time, it is also facing the continuous fermentation of the Asian financial crisis.
The external environment has deteriorated, and the crisis caused by internal factors has become even more unbearable: real estate check-out, project dunning, bank loan collection, partner grabbing projects... The pressure on Fuxin is overwhelming.
People, one by one to persuade, the court and the bank's lawsuit to fight, the company's internal differences to sort out... Wu Di said that it was a painful 3 years, and supporting Fuxin to survive was not only the persistence of Fuxin people, but also because of the reputation of Fuxin's honest management in the past few years. After the snow melts, spring also comes.
In 2003, Fuxin, which finally recovered stability, decided to go out and began to lay out the whole country and continue to invest in the financial industry.
In 2008, the financial crisis in the United States broke out, the New York stock market fell sharply, and the financial storm affected The domestic market, and Fuxin's financial investment field was also hit hard.
Are the shares of Minsheng Bank held by Fuxin sold or not? Minsheng Bank has invested for 12 years, the premium is only 4 times, the rate of return is obviously not as good as Fuxin's real estate, and the board of directors has discussed again and again around "sell or not to sell".
Because of the time difference, Wu Di had to wait for the stock markets in the United States and Europe to open in the middle of the night, make timely judgments on the impact that domestic A-shares may be affected by changes in the European and American stock markets, quickly make various plans, and turn around to allocate the group's funds.
Minsheng Bank's plunge stopped in 2008 and has since rebounded. In the end, none of the shares of Minsheng Bank held by Fuxin were sold. Fuxin's second crisis has passed again.
"Not developing is the biggest risk," Wu Di said. In his view, the country's economic development is very rapid, once the enterprise does not develop will be submerged by the tide, marginalized, and then become a bubble dissipated.
In 2009, Fuxin, which emerged from the shadow of the financial crisis, acquired Datang Real Estate.
After several years of integration in the real estate sector, Fuxin began the "10 billion" strategic planning, implementing regional focus and product focus, and rolling the three-year strategy. As a result, there has been a new round of breakthrough development, in 2017, Datang Real Estate sold more than 10 billion yuan, and the development scale ranked 105th in the national industry.
On December 11, 2020, Datang Real Estate sounded the gong and drum on the Hong Kong Stock Exchange and announced its listing. Under the leadership of Wu Di, Fuxin Group has achieved remarkable development results.
03
Do good and go far, give back to the society
On July 20, Forbes China released the "2021 China Charity List", and among the 100 entrepreneurs on the list, Wu Di, chairman of Fuxin Group, ranked 75th with a total cash donation of 41.16 million yuan. This is the third consecutive year that Wu Di has been listed on the Forbes China Charity List.
Under its leadership, Fuxin Group actively participates in various charitable undertakings and strives to make new contributions in the new era.
In the face of the sudden epidemic in 2020, six days after Fuxin Group set up an emergency donation working group, the first batch of 10,000 high-quality protective clothing was distributed to 8 hospitals in Wuhan and Jingmen City, providing a strong guarantee for the protection of frontline medical staff.
At the same time, Fuxin launched the anti-epidemic special "Great Wall of Love" program in many places across the country, donating nearly 430,000 pieces of anti-epidemic materials and donating 24.63 million yuan.
In terms of supporting education, Fuxin Group donated 15 million yuan, 10 million yuan and 3 million yuan to Xiamen University, Tianjin Normal University and Tianjin University in 2020, and provided various financial support to more than ten primary and secondary schools in Fujian and Guangxi.
In terms of poverty alleviation, Fuxin Group is deeply involved in the development of targeted poverty alleviation, helping the poverty alleviation cooperation between the east and the west to develop in depth, and the poverty alleviation footprint covers many provinces and regions in the western region. In 2020, Jianmei Village in Hua'an County, which was supported by Fuxin Group, successfully lifted itself out of poverty and went deep into the "three districts and three states" deep poverty area to carry out poverty alleviation projects in Tibet.
In addition, the "Chen Zhanghui Fuxin Charity Foundation" initiated by Fxgen Group was rated as a "5A-level social organization" in early 2021, and ranked first with a score of 100 points in the FTI 2020 list of the China Foundation Transparency Index, with a rating of A+.
"Philanthropy is not only a matter for individual entrepreneurs, but also part of the overall corporate social responsibility. Doing charity is not only to help others, but also to combine it with the construction of corporate culture, so that enterprises not only have a forward force, but also a force for good. Wu Di said.
Reference:
For the third consecutive year, Fuxin Group was honored in the Forbes China Charity List Fuxin Group
Exclusive | Wu Di: Fuxin's 25 Years of Secret Business Exchange
Viewpoints face to face with Wu Di: The Ideals and Times of Datang Real Estate
Editor: Li Jianping
Reviewer: Yang Liuqing