He is the young richest man who rose the fastest on the list of self-made rich people after The Hurun 80s.
He started with the manufacture of locks, made a fortune by acquiring rotten buildings, played with stocks, engaged in mining, built star hotels, and built flying cars, is he the Chinese version of Musk?
Hu Xingrong, born in 1981 in Wenzhou, Zhejiang Province, is a fertile land of business and has bred many rich businessmen.
In fact, his previous name was Hu Fengyun, probably changed his name in 2017, "Fengyun" has an unpredictable meaning, not as good as "Xingrong", and the business is prosperous.
However, Hu Xingrong is indeed a self-made figure who has made a name for himself and has a strong business in the sea.
Wenzhou people have had the entrepreneurial spirit of hard work and innovation since ancient times, and many local people do processing business of various small commodities.
Hu Xingrong was born smart, and under the influence of his ears, he gradually shaped a strong business mind.
In 2000, Hu Xingrong began to start a business, following his father to engage in lock processing, and in 2003, he founded his first company: Yajie Lock Industry.
Hu Xingrong dares to be the first, good at innovation, he integrates the local lock industry workshop, launches new technologies, attracts talents, through such continuous integration of resources, his business is getting bigger and bigger.
A few years later, Hu Xingrong has become an experienced entrepreneur with a factory, resources in hand, and close cooperation with many financial institutions and well-known Wen businessmen.
In 2008, the global financial crisis broke out, the trade manufacturing industry was tragically withered, Hu Xingrong's industry was also affected, and business was poor.
At this time, he chose to leave Wenzhou and go to Beijing to start a business again and start again. In Beijing, he is not familiar with life, what can he do?
At that time, the real estate industry was also affected, and many real estate projects became rotten projects, making many buyers want to cry without tears, which also caused headaches for government departments, but there was nothing they could do.
Others are hiding far away from these rotten buildings, but Hu Xingrong does not think so, he feels that this is a business opportunity.
In 2009, Hu Xingrong founded Dover International Holding Group, and then began to acquire rotten tail buildings from all over the world, from which to screen potential properties, with the recovery of the real estate market, Hu Xingrong's rotten tail building became a fragrant bun.
Therefore, Dover International Holding Group has become a benchmark enterprise that "turns stones into gold", and Hu Xingrong is known as a "rich man with a bad tail".
Hu Xingrong is a business wizard who can turn the danger into a disaster by acquiring a rotten building, buying a stake in Lao Lai Company and turning stones into gold.
In December 2017, Baota Petrochemical Group, the richest man in Ningxia, Sun Hengchao, announced that the company transferred 79% of the equity of Xinjiang Kuishan Baota Petrochemical to Hu Xingrong's company through equity transfer for 3.375 billion yuan.
However, in April 2018, Hu Xingrong suddenly withdrew from the project and the cooperation was terminated. In November of the same year, Sun Hengchao was arrested on suspicion of criminal offenses, involving an amount of 28.4 billion yuan.
Hu Xingrong escaped a disaster, and the outside world looked at him with admiration and felt quite mysterious.
After exiting Baota Petrochemical, Hu Xingrong joined minsheng International, a Hong Kong-listed company, and obtained high-quality assets in Chongqing Jiefangbei Commercial District.
In October 2019, Hu Xingrong, through its subsidiary Wenzhou Kangnan Technology, acquired 23.15% of hengtian hailong for 581 million yuan, thus becoming the largest shareholder.
In recent years, Hu Xingrong's Dover Group has vigorously entered the real estate and stock markets, "branching out", the group has grown stronger and stronger, and its operating income has shown a spurt of growth.
Dover Group's revenue in 2018 was 25.7 billion yuan, which quickly reached 175.3 billion yuan in 2019 and rose to 190.9 billion yuan in 2020, ranking more than well-known private enterprises such as Minsheng Bank, Longhu Group, Gree Electric Appliances, and SF Holdings, attracting attention.
Today, Dover International Holding Group has grown into a leading large-scale comprehensive private enterprise group in China, focusing on the development of six major business sectors of industry, investment, trade, real estate, cultural tourism and aviation.
The main industries are Jinling Smart Meter, Jinbang Light Industry, Tianyu Weiye, Zhongmai Security, Xingrong Environmental Protection Industrial Park, Benxi Talc Mine, Hengtian Hailong, Minsheng International, Outlets (China), Dover International Center, Dover Chengdu Outlets, Dover Impression City, Wanmo Shopping Center, Dover Tonilo Lamborghini Hotel, Dover Airlines and so on.
In September 2021, With a revenue of 190.915 billion yuan, Dover Group ranked 124th in the list of "2021 Top 500 Chinese Enterprises", 31st in the list of "2021 Top 500 Chinese Private Enterprises", and the top 10 in the "2021 Zhejiang Entrepreneurs National Top 500".
Hu Xingrong's business empire grew stronger and more influential, and he won many titles for it.
He now not only serves as chairman of dover International Holding Group, chairman of the board of directors of Hong Kong Minsheng International, but also as president of the Wenzhou Chamber of Commerce in Beijing and member of the 12th Xinjiang Uygur Autonomous Region Committee of the Chinese People's Political Consultative Conference.
In December 2018, Hu Xingrong was awarded the title of "2018 Top Ten Influential Figures in China's Economy", and in December 2019, he was awarded the title of "2019 China Economic Person of the Year".
In the wealth list, Hu Xingrong ranked 466th in the "2020 Hurun Rich List" with a wealth of 12 billion yuan, and ranked 21st in the "2021 Hurun Global Self-made U40 Rich List" with a wealth of 12.5 billion yuan.
At the same time as the rapid development of the group, Hu Xingrong also does not forget to give back to the township and is keen on charity in the country.
Dover Group has donated 50 million yuan to Meitou Town, Longwan District, Wenzhou City to improve the construction of apartments for the elderly in his hometown; 5 million yuan to the Wenzhou Red Cross Society; 5 million yuan to the Beijing Guangcai Poverty Alleviation Foundation; and 3 million yuan to Sedingka Village, Aza Village, Jingmo Village and Bada Village in Aza Township, Najali County, Tibet...
Wenzhou is one of the birthplaces of the market economy and private economy, and many enterprises are family-owned, and Dover Group is no exception.
Hu Xingrong's father, Hu Shikuan, his mother Tu Jinlian, his sister Hu Xiaohui, and his niece Zhang Tingting held positions in many companies under Dover, forming a huge branch.
The Wenzhou enterprise of Dover Group is as mysterious as its founder Hu Xingrong, and the more people ponder, the more mysterious they feel.
The sea of commerce is ups and downs, the waves are sandy, and all the glory is prosperous, and the loss is all damaged. Things are changing, and the rise and fall may be in one finger.
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Resources:
"He was born and raised in Wenzhou, started a business at the age of 14, from scratch to a post-80 billionaire"
"Dover Group: Revenue soared 6 times, top 500 Chinese enterprises, low-key "upstart", hidden and sneaky"
"From the bottom of Dover Hu Xingrong: The "Stone into Gold" Capital Technique of the Post-80s Billionaires"