Yan Jie said
Just now, Huaxia Happiness issued an announcement that Wu Xiangdong, co-chairman, director, member of the Strategy Committee and CEO and president of Huaxia Happiness, resigned from relevant positions.
In addition, Yu Jian also resigned as co-president of the company for personal reasons.
The announcement also mentioned that after Wu Xiangdong and Yu Jian resigned, they would continue to work in the company and continue to assist the company in undertaking the necessary debt restructuring work.
In fact, as early as before, there was already news that Wu Xiangdong would leave his job, and at that time, there were rumors that Wu Xiangdong would join the Shenzhen local developer Pengrui Group.
It can also be seen from this announcement that although Wu Xiangdong has resigned from huaxia happiness-related positions, he will still support and undertake the company's debt restructuring work, which may also be a certain consensus reached by Huaxia happiness and Wu Xiangdong.
01 Wu Xiangdong's real estate storm
Wu Xiangdong can be said to be a big man in the real estate circle:
In 1993, Wu Xiangdong graduated from Tsinghua University and joined the China Resources Group for 25 years.
At the beginning, Wu Xiangdong was the general manager of China Resources Land Shenzhen Company, and with his strong strength and ability, he eventually became the chairman of the board of directors of China Resources Land, and at the age of 46, he was in charge of the top 10 large real estate central enterprises in the industry, which was also the most prominent stage of his career.
The turning point came in November 2014, when China Resources Land announced that Wu Xiangdong had resigned as chairman of the company's board of directors for personal reasons.
After Wu Xiangdong's resignation, the position of chairman of the board of directors of China Resources Land was vacant for 4 years, even though Wu Xiangdong returned to China Resources in a low-key manner in 2015, although he has always been in charge of the overall situation of China Resources, he has not attended the position of chairman of the board of directors.
On February 12, 2019, China Resources officials announced Wu Xiangdong's departure, and 7 days later, Wu Xiangdong joined the next family Huaxia Happiness, which had been rumored for half a year.
At the beginning of last year, Huaxia Happiness fell into a credit crisis, and it was also in the first half of last year that Wu Xiangdong was rumored to leave Huaxia Happiness and join Pengrui Group.
After nearly a year, Wu Xiangdong finally resigned from huaxia happiness-related positions, but he will continue to work in the company and continue to assist the company to undertake the necessary debt restructuring work. Therefore, Wu Xiangdong is still responsible for the restructuring of Huaxia Happiness's debt to some extent.
02 After Wu Xiangdong resigned
Can Huaxia Happiness still be "happy"?
Also resigning with Wu Xiangdong is co-president Yu Jian.
According to official disclosures, Yu Jian worked at China Resources Land Limited from 2014 to November 2018, serving as an executive director, senior vice president and chief financial officer.
At the end of 2018, he joined Huaxia Happiness before Wu Xiangdong, and in the past few years, Yu Jian, as co-president, has also worked with Wu Xiangdong to solve the difficulties of Huaxia Happiness.
At that time, in addition to Yu Jian's previous war, a number of Wu Xiangdong's old departments joined Huaxia to take up important positions, and zero and zero finally came down, and Wu Xiangdong brought hundreds of people from China Resources.
The original joining of Wu Xiangdong and his party also brought a new pattern to Huaxia Happiness, forming an operating model of "Beijing + Shenzhen" north and south double headquarters. Huaxia Happiness North and South Headquarters operate independently, and it is said that even meetings are held separately in normal times.
In the past, the Southern Headquarters, headed by Wu Xiangdong, mainly focused on investing in the development of comprehensive projects integrating business and housing in the core areas of first- and second-tier cities.
After joining Huaxia Happiness, Wu Xiangdong led the team to expand the territory and landed in Wuhan, Harbin, Guangzhou, Nanjing, Dongguan, Shenzhen and other places.
However, Huaxia Happiness began at the beginning of last year, and there was a liquidity dilemma:
On the first working day of the beginning of 2021, Wang Wenwen, chairman of Huaxia Happiness, analyzed the dilemma faced by Huaxia Happiness at the internal business meeting - the operational difficulties caused by liquidity problems, and also faced the reasons behind it:
The first is to misjudge the situation around Beijing, and the investment is too concentrated;
Secondly, the new expansion area is still cultivating, and the contribution to the company's performance is limited;
The third is the radical expansion in the early stage, the management is not refined enough, the scale is overemphasized, and the benefits are ignored;
Finally, there are multiple rounds of epidemic shocks, which are worse.
Although facing difficulties, Wang Wenwen said that Huaxia Happiness is in a positive window period, and Huaxia Happiness will promote three major events: comprehensive debt, debt committee promotion, and business operation.
However, the reality is still bone-chilling, and Huaxia Happiness has issued many announcements about debt overdue since last year.
From a fundamental point of view, the current performance of Huaxia Happiness is not too optimistic: Huaxia Happiness's 2021 performance report The non-net profit deducted by the company's shareholders is -31.8 billion yuan to -32.8 billion yuan.
At the beginning of March, Huaxia Happiness held a national conference on the resumption of work of 80 projects at the same time, which sent a signal to the market that Huaxia Happiness was operating, and also boosted some confidence to some extent.
Huaxia Happiness debt restructuring is also advancing relatively smoothly:
On April 1, Huaxia Happiness issued an announcement, saying that the amount of debt restructuring newly signed by its financial debt was 61.897 billion yuan, and the cumulative amount of debt restructuring achieved by financial debt so far totaled 104.812 billion yuan, and the corresponding debt interest reduction and penalty exemption amount totaled 8.718 billion yuan.
For Huaxia Happiness, the most important thing at present is still the promotion of debt, and the resignation of Wu Xiangdong to some extent also shows that Huaxia Happiness's debt restructuring has entered a new stage.
Recently, huaxia happiness's recent stock price has risen sharply, both the background is good for real estate factors, but also its own positive reasons, the capital market is voting with its feet.
03 Wu Xiangdong's gossip new owner,
Next stop "happiness"?
Last year, when it was rumored that Wu Xiangdong was going to bid farewell to the happiness of Huaxia, he said that his next stop was Pengrui Group.
The most widely circulated question about "how Wu Xiangdong and Pengrui are matched" is also that the process of "selling" the Southern Headquarters project was a hit-and-go.
Another public thing is intriguing:
On April 8 last year, Xu Hang, chairman of the board of directors of Pengrui Group, signed an agreement with the Shanghai World Top Scientists Development Foundation, and Xu Hang and Pengrui Public Welfare Foundation jointly donated 1 billion yuan to the World's Top Scientists Development Foundation.
In this donation meeting, Wu Xiangdong attended the conference as the chairman of the World Top Scientists Association, the initiator of the Shanghai Dingke Development Foundation, and the co-founder of the Dingke Development Foundation.
Huaxia Happiness South Headquarters also holds 20% of the shares of the World's Top Scientists Association.
It is worth noting that Wu Xiangdong and Xu Hang, the boss of Pengrui, have a deeper relationship - the two are also Tsinghua alumni.
In the "2021 Forbes Global Rich List", Xu Hang ranked 92nd with a wealth of $19.5 billion.
Xu Hang's wealth has two main sources, one is medical treatment, and the other is Shenzhen Bay No. 1.
Xu Hang is the co-founder of Mindray Medical, the hottest medical device company in China in recent years, as the largest ventilator manufacturer in China, Mindray Medical has a market value of nearly 500 billion yuan today.
Now in Mai Rui Medical, Xu Hang has now retreated behind the scenes, Pengrui Group was established by Xu Hang in 2001, and in 2008, Xu Hang officially established Pengrui Real Estate and began to enter the real estate.
Shenzhen Bay No. 1 is a high-end mansion in Shenzhen, which has a high reputation in the local area and has always been an absolute cover image on Pengrui's official website.
In this project that stirred up the shenzhen property market, Ma Yun, Xu Jiayin and other bigwigs were brought together, and it is said that Xu Jiayin originally spent 200 million yuan to win two floors at Shenzhen Bay No. 1.
Interestingly, in the real estate career of this real estate company, the beginning of the nearly ten years is only the Shenzhen Bay No. 1 project.
However, it is said that relying only on this "ten years of grinding a sword" and the design fee alone cost 350 million yuan, Perennial Real Estate can earn more than 3 billion yuan per year.
It is also under the sweetness brought by Shenzhen Bay No. 1 Bay, in 2018, Xu Hang, who had no intention of expanding his territory in the real estate circle, began to expand his territory.
In this year, Xu Hang established Pengrui Urban Renewal Investment Co., Ltd., in its current planning, it is expected to expand the land area of new projects of about 3 million to 6 million square meters within three years, through the rapid development of 3-5 years, the company will become a leading brand in the field of urban renewal in China.
According to Pengrui's official website, in addition to the main real estate business, it also involves health industry, commercial operation, property management, PE investment and other businesses.
If Wu Xiangdong joins this time, with reference to the path of many big guys in the past, it is not ruled out that he will join as a partner, with Wu Xiangdong's seniority and experience in the real estate circle of "old master", he may help Pengrui to really go further in the real estate business.
-Past Highlights-
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