The wind started in Xiamen, like the Dou Erdun of that year, gathered in the mountains and forests, dominated for a while, and made progress with the times, on December 11 last year, Datang Real Estate landed on the Hong Kong Stock Exchange for listing.
For many years, Huang Xi, the richest woman in Xiamen who has never appeared in public because of her low profile, is like her Datang Real Estate Dou Erdun brand face, only hearing its name and not seeing its people, full of mystery.
The legend behind the Douerdun Face of Datang Real Estate
Wu Di, chairman of Datang Group, and Zheng Wanchun, president of China Minsheng Bank, sounded the gong for the listing of Datang Group Holdings
On November 11, 2020, Datang Group Holdings (02117. HK) was officially listed on the main board of the Hong Kong Stock Exchange, and at the Hong Kong listing celebration ceremony held at the Xiamen Datang Center, Wu Di, Chairman of Datang Group, and Zheng Wanchun, President of China Minsheng Bank, sounded the gong for the listing of Datang Real Estate.
Wu Di, chairman of Datang Real Estate, said in his speech that in the past 35 years, Datang Real Estate has not forgotten its original intention, always adhered to the principle of "customer-centric, progress with the times", and is committed to being the leader of "Guoyun Real Estate in the new era". He also said that the successful landing of Datang Real Estate in the Hong Kong capital market is a milestone in the company's development for 35 years, and it is also a new starting point, new driving force and new journey for the company to enter a new stage of development.
In 1995, Taichung Yu Yingyi and his good friend Zhang Fuzhao founded Datang Real Estate in Xiamen, a Douerdun face, which became one of the urban images of the warm city of Xiamen.
Unfortunately, however, founder Yu Yingyi died of sudden illness on August 11, 2008, while his close friend and partner Zhang Fuzhang died suddenly in a high-end hotel in Thailand two years ago due to a myocardial infarction. Datang Real Estate is also like a "motherless child", with the sudden departure of the two founders and the development of no landing.
The company logo of Datang Real Estate uses the famous Peking Opera face "Blue-faced Dou Erdun", which is also interested in doing "Guoyun Real Estate". In the 1980s, when Yu Yingyi was developing real estate in Taiwan, she won the Luban Award, the highest award in Taiwan's architectural industry; in addition, the name Oft Datang was also borrowed from the style of the Tang Dynasty.
When Yu Yingyi died, Datang Real Estate at that time planned to go public in Hong Kong, but with his sudden death, coupled with the financial crisis, under the double blow, Datang Real Estate faced development bottlenecks and multiple dilemmas. In 2010, Fuxin Group, the family of Huang Xi, the richest woman in Xiamen, acquired Datang Real Estate.
Listing ceremony of Datang Real Estate
At present, after the IPO, Datang Group Holdings, the controlling shareholder is Datang International, the shareholding ratio is as high as 54.5427%, and the second largest shareholder is Meidi Investment Holdings Co., Ltd., with a shareholding ratio of 15.9083%. According to the prospectus, Meidi Investment is a company registered in the British Virgin Islands and is now wholly owned by Wu Di, executive director and chairman.
According to the relevant information of Fuxin Group, the chairman of Fuxin Group, Datang Real Estate Prospectus, etc., Huang Xi and Wu Di currently hold 51.03% and 11.74% of the equity of Fuxin Group (individually and through Xiamen Hexin Consulting), which is the first and second largest shareholders of the company, and the remaining equity is held by the Chen family, including Chen Tianyao (18%), Chen Tianyi (18%), Chen Zhangming (1%) and Ms. Zhang Jianhua (0.21%, held through Xiamen Hexin Consulting).
Datang Group's prospectus documents also show that Huang Xi holds 100% control of Fuxin Hong Kong through the Good First BVI registered in the British Virgin Islands, while Fuxin Hong Kong (70%) and Jinxin (30%) are registered through the overseas Cayman Islands and Cook Islands, and 100% control of Datang Xiamen.
Wu Di, Chairman of Datang Group Holdings Limited
This time, Datang Group went public in Hong Kong, which also dispelled all kinds of doubts from the outside world about the actual controller Huang Xi and Wu Di, chairman of Datang Group, and also made many false rumors and misunderstandings in the past "white in the world".
This is not surprising, even in Xiamen, or In Yongchun, the hometown of Huang Xi's husband, the official media ignored it when it reported and Huang Xi, or it may be that she is 59 years old and deliberately unwilling to reveal it publicly! So much so that when she landed on the "2010 Hurun Real Estate Rich List", many people knew very little about the "richest woman in Xiamen", and some media even "Zhang Guan Li Dai" when reporting.
The listing of Datang Real Estate in Hong Kong also clearly disclosed that Huang Xi was the wife of Chen Zhanghui, one of the founders of Xiamen Fuxin Real Estate. In addition, it also clearly disclosed the relationship between Wu Di, the current chairman of Datang Group, and the Chen Zhanghui and Huang Xi families.
According to the prospectus, Wu Di met Huang Xi in the 1980s through Huang Xi's late husband Chen Zhanghui. Wu Di, 55, has been the president of Fuxin Real Estate since January 2003, the chairman of Fuxin Group since 2016, and the chairman of Datang Group in November 2019 and transferred to executive director. He became president of Datang Xiamen as early as 2011.
In July 1986, Wu Di received a bachelor's degree in fishery machinery from the Fisheries College of Jimei University (formerly Xiamen Fisheries College), and he was a student of Huang Xi's late husband and chen Zhanghui, then a teacher at Xiamen Fisheries College. Chen Zhanghui was the deputy director of the Organization Department of the Party Committee of Xiamen Fisheries College.
Photographs of Huang Xi from earlier years
Although Huang Xi is the actual controller of Datang Group and holds a large equity, when the company was listed, she neither held any position on the board of directors nor spoke at the listing ceremony, and will keep a low profile to the end.
Prospectus documents also show that Huang Xi's husband and her husband's brother invited his student Wu Di to join when they founded Xiamen Fuxin in the early 1990s. Previously, Wu Di was responsible for and managed a number of companies engaged in financial and property development, including Fuxin Group, which were controlled by Huang Xi and her husband (deceased).
Huang Xi is an individual who has invested in a number of businesses in China through Fuxin Group since 1995, including property development. Later, her investment in property development was also incorporated into Xiamen Datang, and the professional management team she established at that time was led by Wu Di.
Since January 2011, Huang Xi has decided to entrust the operation and management of the Group's business to Wu Di and the management team, while she personally focuses on "other objectives" of other non-real estate businesses. In other words, the reason why Huang Xi can be low-key and hidden behind the scenes is related to the full trust and authorization of her and her husband Chen family to Wu Di and the management team, which is also a legendary case in the capital market itself.
However, as of January 4, the market value of "Datang Group Holdings", which is listed in Hong Kong, is only more than 6.2 billion, and the current stock price is similar to the final offer price of HK$4.56, and the market performance also reflects the difficulty of survival of small and medium-sized housing enterprises at present.
The brother's charity home behind Huang Xi, the richest woman in Xiamen
Chen Zhangming, Director of Fuxin Group
Speaking of Datang Group Holdings, we have to mention Fuxin Group, and we have to mention its founders Chen Zhangming and Chen Zhanghui brothers. Like Huang Xi, mr. Chan Cheung Ming, the brother of her late husband, who is now a director of Fuxin Group, the 11th president of the World Wing Chun Federation, and the eternal honorary president of the Hong Kong Fujian Hometown Association, has been enthusiastic about public welfare and charity for many years, creating wealth and sangzi, but doing good in a low-key manner and not seeking returns.
Huang Xi's husband, Chen Zhanghui, is a native of Yongchun Mountain, Fujian Province, but he and his brother Chen Zhangming, who is also the founder of Xiamen Fuxin Real Estate, were born in Wulijie Town, adjacent to Guantaocheng, Yongchun City.
Chen Zhanghui's father, who worked in Yongchun County Pharmaceutical Company, was an assistant manager, and his mother Zheng Xiuying worked in Yongchun Food Company, although it was a dual-career family, but when Chen Zhanghui's brothers and sisters were young, due to the large population in the family, family life was often in a tight situation. Chen Zhanghui, there are 5 brothers and sisters, born in 1957, the elder brother Chen Zhang recalled tomorrow: "In addition to eating, wearing clothes are the clothes of the boss after wearing for me, I wear them for my brothers to wear, in the winter there are no shoes to wear, barefoot, when cold, long clothes and short clothes wrapped together." ”
After graduating from high school in 1974, Chen Zhangming "went up the mountain and went to the countryside" and came to Hengkou Township, the most remote area in Yongchun, to become a barefoot doctor. Later, he joined the army and was awarded the third class merit in the army. After retiring from the military, he was placed to work at the county pharmaceutical company where his father worked. Also in that year, his favorite female classmate Zheng Yaqin returned to his hometown of Yongchun from Hong Kong.
Brokered by old classmates, in June 1981, Chen Zhangming married Zheng Yaqin and went to Hong Kong in 1983 to earn a living.
Yan Zhanggen, chairman of Xiangye Group and eternal honorary president of Hong Kong Fujian Yongchun Hometown Association
The eldest brother, Yan Zhanggen, was sent away since he was a child. In 1980, as a planned temporary worker at Yongchun Petroleum Company, he was admitted to Fujian Electric Power University by "half work and half study" to study electronics. In the Xiamen real estate market in the 1980s and 1990s, Yan Zhanggen was also one of the influential figures.
In 1989, Yan Zhanggen, who was carrying 200 million Hong Kong dollars, came to the hot land of Xiamen and boldly invested in the creation of apartments and real estate such as Ronghua Building, Huachang Building, Regal Garden, and Egret Garden. Later, he founded hundreds of enterprises in Beijing, Shanghai, Suzhou and other places, including Fuzhou and Xiamen, including investment in real estate. In his hometown of Yongchun, he founded Xiangye Real Estate, Xiangye Mineral Water and other enterprises.
Since his brother Chen Zhanghui teaches at the Xiamen Fisheries School, Yan Zhanggen has also invested in aquaculture in Xiamen. To put it bluntly, Yan Zhanggen and his brothers were the "pioneers" of xiamen real estate development in the early days, and if they want to write the history of Xiamen real estate, they must have a thick page.
In the early 1980s, Yan Zhanggen took his entire net worth of 50 Hong Kong dollars and began a "Hong Kong drift" life with his wife. Running away for half a lifetime, entrepreneurship and innovation never stop, and returning is still a teenager. In recent years, Yan Zhanggen's 13-year investment in bio-pulping technology has set off a "green revolution" in papermaking around the world and has also received widespread attention.
At first, Yan Zhanggen worked as a handyman in the Hong Kong textile factory in the morning, and then went to work in the garment factory at night, working day and night, and only accumulating 8,000 Hong Kong dollars a year. Later, an elder in Yongchun's hometown transferred the waste collection station he operated to him, and started from this, and in just over a year, he earned 110,000 Hong Kong dollars. At the time of the take-off of Hong Kong's textile industry, he borrowed money from hong Kong's Wing Chun fellow villagers, poured everything out, and started a second time with more than 100,000 Hong Kong dollars to become a cloth wholesaler. As early as 1985, Yan Zhanggen did business in all parts of the motherland, and later did a good job in Xiamen real estate. By the way, Yan Zhanggen is also one of the first batch of Hong Kong townspeople in Yongchun to return to their hometown to start a business.
Chen Zhangming (middle)
Like Yan Zhanggen's enthusiasm for charity and the benefit of the villagers after the success of his career, Chen Zhangming not only donated money to the Fuxin Naming Fund established in 2015, but also set up the Chen Zhangming Zheng Yaqin Charity Fund with his wife, and actively cooperated with the needs of the Yongchun County Charity Federation, actively taking the initiative to do charity and helping vulnerable groups in urgent need of assistance. In addition, he also set up a scholarship teaching fund in Yongchun No. 1 Middle School, and donated teaching buildings, purchased teaching equipment, and set up scholarships for Yongchun No. 1 Middle School, Yongchun Chongxian Middle School, Yongchun Civilized Middle School and other schools.
Because of his concern for his hometown, his enthusiasm for public welfare, his vigorous donation to fund education, and his dedication to the development of cultural and educational undertakings, Chen Zhangming has been awarded the Charity Star and Special Contribution Award by Fujian Province, Quanzhou City and Yongchun County for many times.
In 1983, Chen Zhangming went to Hong Kong to reunite with his wife Zheng Yaqin and work hard together. "When I first arrived in Hong Kong, I rented a house with empty hands, less than three square meters." Chen Zhang recalled after tomorrow: "At the beginning, I worked part-time, went to the factory to help people sew clothes, and pulled down their pants. ”
Later, he went to the cotton cloth shop opened by his hometown in Yongchun to do things, he said: "Get up at five o'clock in the morning, sell things until eight o'clock and come back, after breakfast, go to work at nine o'clock, and set up a stall at night, the income is not bad." After 1986, Chen Zhangming began to start an independent business and engaged in the textile trade industry.
Xiamen Datang Center
In 1993, Chen Zhangming and his brother Chen Zhanghui, who resigned from the Fisheries College and went to the sea, registered Fuxin Investment Co., Ltd. in Hong Kong, and established Fuxin Real Estate Co., Ltd. in Xiamen in the same year, and began to engage in the real estate development industry.
Many people are curious about why Zheng Wanchun, president of China Minsheng Bank, is listed on the Hong Kong Stock Exchange and jointly sounded the gong for the listing of Datang Real Estate with Chairman Wu Di.
I think it is worth it for the people at the helm of Minsheng Bank to witness this historical moment. In order to solve the capital bottleneck encountered in the development process of Fuxin Company, at the end of 1995, Fuxin Group, brothers Chen Zhangming and Chen Zhanghui, took a strategic step and participated in the establishment of China's first national joint-stock commercial bank - Minsheng Bank. Since then, Fuxin Group has been focusing on real estate and finance as the engine, and its investment fields also include high-tech industries, trade, cultural and sports industries.
Chen Zhanghui, founder of Xiamen Fuxin Group
Huang Xi's late husband, Chen Zhanghui, was born in 1960 and died young in August 2000. Like his brother Chen Zhangming, he also joined the team in the countryside after graduating from high school, and his 78th alumnus of the Fisheries College of Jimei University stayed on to teach after graduation, and was the youngest division-level cadre in the school.
In 1989, he resigned and went to the sea, where he served as chairman of Fuxin Group and director of Minsheng Bank. At that time, only in Xiamen, well-known real estate in Xiamen, such as Fuxin Mall, Silver Dragon Plaza, Taoyuan Building, Fuyu Building, Qiao Jian Garden, and Jiaotong Building, was developed by Fuxin Group.
For his alma mater Jimei University, Xiamen City and his hometown of Yongchun, Chen Zhanghui has always been enthusiastic about public welfare undertakings. Fuxin Group was founded in 1995, when he donated RMB 1 million to his alma mater, Xiamen Fisheries College, to establish the Fuxin Education Fund.
The elder brother Chen Zhangming has three children, and he has always supported his father in doing public welfare and doing good deeds. Chen Zhangming once said: "If you do a career, I dare not say that it is very successful, but along the way, I still feel quite lucky." I will continue to do charity for the public, and I hope that my children will be able to follow me to continue to do the charity. ”
And Chen Zhanghui also said before his death that he did not do things to make money, but to make money in order to do things.
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