Author: Zhang Yanping
Source: Mustang Finance
Diamonds are a woman's best friend, and jewelry is an aphrodisiac for a woman to walk.
The Zheng family, which started with jewelry, ranked tenth in the Greater China region of the 2017 Hurun Global Rich List, sitting on a wealth of 105 billion yuan, Zheng Jiachun once again stepped into sight, this time, no longer as Zheng Yutong's successor.
Thirty years ago to see the father to respect the son, thirty years later to see the son to respect the father, this sentence is most appropriate to use in the Hong Kong-style family, but it is not that these thirty years are a bit short.
Speaking of Zheng Jiachun, it must be mentioned that his father Zheng Yutong, from escaping into the wilderness to becoming one of the four major families in Hong Kong, Zheng Yutong's life can be described as legendary.
Cheng Yu Tong entered the Chow Tai Fook Gold Store at the age of thirteen, and developed Chow Tai Fook into a brand that can stand shoulder to shoulder with Tiffany and other first-line brands, and on December 15, 2011, Chow Tai Fook was listed in Hong Kong, and the capital territory was further expanded. By the time of His death in 2016, the Cheng family was already the head of the jewelry brand Chow Tai Fook and the real estate company New World.
"We are not a family business, the company employs people, the ability is the most important," Zheng Jiachun once said.
Sounds uncomfortable, you are in or not, the blood is placed there, how strong the ability is more unable to get rid of the surname, another angle also has to say, as the final successor, Zheng Jiachun pressure mountain, in addition to the eldest son identity and management ability factors, probably Zheng Yutong's second son Zheng Jiacheng outside the flowers and grass, did not support the wall is also an important reason.
Zheng Jiachun, who lives under the aura of "shark guts", does not seem to have any suspense in succession.
Mustang Finance (WeChat public account: ymcj8686) found that in February 2012, when Zheng Yutong officially announced his retirement, he also took away the old ministers who had followed him for many years and arranged new personnel to assist Zheng Jiachun, which had a taste of changing dynasties.
Before his death, Zheng Yutong laid out the distribution of 100 billion yuan of property, established a family trust fund, and held shares in three Hong Kong-listed listed companies, New World Development Group, Chow Tai Fook Jewelry Group Co., Ltd. and NWS Group Co., Ltd., through the offshore companies cheng yu tung family holding (cytffh) and cheng yu tung family holding ii (cytfh ii), ranking the largest shareholder.
Cheng Ka Chun, son of his father, has served as Chairman of the Board of Directors of New World Development Group (00017.hk), Chairman and Managing Director of New World China Land Limited, Chairman and Executive Director of NWD Holdings Limited (00659.hk), Chow Tai Fook Jewellery Group Limited (01929.hk), Chairman and Non-Executive Director of New World Department Store China Limited and NW Resources Limited. Most of the family business is in the pocket.
According to Mustang Finance (WeChat public account: ymcj8686), today, Chow Tai Fook's total market capitalization is HK$73.1 billion; New World Development's total market capitalization is HK$95.905 billion, and the total market value of the newly created is HK$54.7 billion. According to the shareholding of the Zheng family, the total assets of the Zheng family have reached 141.68 billion Hong Kong dollars, equivalent to 126.005 billion yuan.
As of the end of March 2016, Chow Tai Fook had 2,057 jewellery outlets in the Mainland, the largest number of retail outlets in China, in addition to 122 watch retail stores, which also have a pivotal position in the watch market.
Cheng Jiachun's capital territory expanded from Hong Kong to the mainland, based on Guangdong, and successively carried out the transformation of old cities in Beijing, Tianjin and Wuhan, which may have limited profits, but it has brought goodwill to the new world, closely following the government's guidance, and this intangible asset has earned value.
As a well-known rich second generation, the inheritance of the family business is smooth, and the scandal has naturally not fallen, and the most famous is to compete with the Chinese property owner Liu Luanxiong for a lover.
Da Liu and Zheng Yutong are friends for a long time, and Da Liu's former girlfriend Wang Yingyu often goes in and out of the "Big D Meeting" with Zheng Yutong and gradually becomes acquainted.
Wang Yingyu met Liu Luanxiong in 1996 under the introduction of a friend, and joined the Chinese real estate work, and was once promoted to general manager. In 2003, Wang Yingyu had been in love with Liu Luanxiong for six years, and had committed suicide by swallowing dozens of sleeping pills for the other party, and had once proposed to her through Zheng Yutong. After the two broke up, Liu Luanxiong, in order to preserve this relationship, published three advertisements to publicly propose marriage, and used the nickname between them, and even sent a blue diamond ring worth 34 million as a wedding gift, but she was not moved.
Also in 2003, Wang Yingyu, who broke up with Da Liu, became Zheng Jiachun's girlfriend, which angered Da Liu for a while, and forced by Da Liu's respect for Zheng Yutong, the affair continued.
It is said that as a well-known barrister in Hong Kong, her father is Judge Wang Jianqiu, who is very famous in Hong Kong, but since she and Da Liu publicly tore X, Wang Yingyu rarely appeared in the public eye.
It was not until many years later, when Wang Yingyu was photographed with a child, that it was pulled out that Wang Yingyu had already had children with the Zheng family.
Unlike Zheng Jiachun and Ye Meiqing, who traveled through the mountains and rivers, Wang Yingyu returned to the familiar legal profession in 2004 and opened a law firm in the New World Building, undertaking many dispute cases in New World.
In Zheng Yutong's obituary, the two sons of Zheng Jiachun and Wang Yingyu have been included in the column of grandchildren, and it seems that both Zheng Jiachun and the Zheng family have recognized the status of these two children.
Image from the new media "Shenzhen Eight Film and Television Circle"
However, Zheng Jiachun's health is worrying, in January this year, the media exposed that Zheng Jiachun felt unwell at home earlier, and confirmed a slight stroke after being admitted to the hospital, without warning, and is now recuperating in Hong Kong Sanatorium and Hospital. And his father Zheng Yutong after the stroke in 2012, has not appeared again, and died in September 2016, so now it is not known who the great cause of shouye handed over, Zheng Jiachun's son Zheng Zhigang married his wife who is also a Harvard university graduate to fight for a career, Zheng Jiachun and Wang Yingyu's two sons have a successful mother, and perhaps another giant drama will be staged.
Whether it is Chow Tai Fook or New World, it is not easy to get to today. It is a good thing to be in the top three of Hong Kong's rich list, but the crisis hidden behind it must also be seen that the world is different from tall, fat and thin, no matter who embarks on the road of customization of the successor, good management is king.
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