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Text: Yu Yu
Edited by Yu Yu
Preface
Once upon a time, Zhongzhi Group, a giant in the financial industry and a business empire with assets of up to 3.6 trillion yuan, collapsed overnight.
This sudden news caught people off guard, what kind of story is hidden behind it? Why can't the huge assets of 1.2 trillion more than Evergrande withstand this crisis?
How did the loss of 150,000 high-net-worth investors turn into this financial tragedy?
Frequent investment mistakes
Zhongzhi Group's investment methods once made it famous, but it was this high-risk strategy that led it to the abyss, and the investment mistakes of holding companies such as LeTV and Changsheng Biotech brought heavy losses to the group.
In addition, large-scale real estate investment has further deteriorated the group's financial situation in the market adjustment, and frequent changes in internal management have exacerbated the crisis of the company.
This investment tragedy seems to be a ruthless drama, full of accidents and mistakes, Zhongzhi Group was originally full of confidence and expected to obtain huge returns through equity investment.
However, the collapse of LeTV and the scandal of immortal creatures caught them off guard, and one thunder after another exploded one after another, plunging the finances of Zhongzhi Group into a quagmire.
At this time, the top management of Zhongzhi Group obviously underestimated the risk of the market, and real estate investment was once regarded as the safest bet, but the changes in the market were relentless.
The expected earnings are gone, replaced by an increasing financial burden, and the long-term market correction has made real estate investment the last straw that crushes Zhongzhi Group.
Management chaos within the company was also a major factor in the crisis, with frequent changes at the top causing the company's decision-making to vacillate and lack a unified strategic direction.
Each executive has his own ideas, but the lack of a leader who can unite everyone makes it even more difficult to maintain the already precarious Zhongzhi Group.
In the financial market, investors always hope to obtain high returns by taking risks, but investment is a science, but also a game of wisdom, the bitter lesson of Zhongzhi Group tells us that investment not only needs courage, but also needs to be cautious and rational.
Only on the basis of a full understanding of market risks can we make the right decisions and avoid repeating the mistakes of the past.
The death of the founder and the chaos of management
The sudden death of Xie Zhikun became the last straw that crushed Zhongzhi Group, and as the soul of the group, his departure put the company in a deep predicament.
The problems behind the collapse of a huge business empire because of the death of one person are far more complex than they appear on the surface.
At that time, the death of Xie Zhikun brought a huge shock, and the executives of Zhongzhi Group lost their backbone for a while, and various disputes and power struggles followed.
Without understanding the guidance and decision-making of Nao-kun, the direction of the company became blurred, and each executive had their own agenda, lacking a unified strategic approach, which made the company's operations even more chaotic.
The power struggle within the company is heating up rapidly. In order to compete for the right to speak, senior leaders have resigned or been forced to resign. In this process, many experienced management talents have been lost, resulting in a significant decline in the ability of the company's management. Without a strong leader, corporate decision-making becomes more wobbly.
The death of Xie is not only the departure of a leader, but also the loss of the soul of the company. As the founder, he has absolute authority and decision-making power within the company.
His departure made Zhongzhi Group lose its stability. The new leadership was unable to take over his responsibilities quickly, leaving the business in unprecedented chaos.
In this context, the efficiency of decision-making within the company is greatly reduced, every important decision becomes difficult to reach consensus, and the division of management makes the company lose a unified direction.
The internal friction and strife at the top have further slowed down the company's development speed. , in which case the financial situation of the enterprise deteriorated rapidly.
The company's management chaos directly affects the daily operation, there is no unified management strategy, and the various departments of the enterprise work in isolation, resulting in waste of resources and low efficiency.
Many important projects were stalled due to a lack of clear instructions and coordination, which left the company's overall business in a difficult position.
In the face of the chaos of internal management, many investors lost confidence in Zhongzhi Group, and investors' confidence collapsed, which directly led to the collapse of the company's stock price.
The rupture of the capital chain made it difficult for the company to continue, and finally went to the brink of bankruptcy, and the sell-off of investors made it even more difficult for the already fragile Zhongzhi Group to maintain.
The employees of Zhongzhi Group have also suffered from it, and the frequent changes in management and infighting have made employees full of uncertainty about the company's future.
Many employees are leaving the company in search of more stable job opportunities, which makes the company's day-to-day operations more difficult, and the shortage of staff in key positions further drags down the company's growth.
In this case, the death of Xie Zhikun is not only a tragedy for one person, but also a disaster for the entire enterprise, his departure has made Zhongzhi Group lose its direction and soul, and the internal management chaos of the enterprise has made the company quickly slide into the abyss of collapse.
All this shows that the success of a business requires not only the wisdom of the founder, but also a stable and united management team.
Huge liabilities and bankruptcy liquidation
Faced with huge debts of 420 billion to 460 billion yuan, Zhongzhi Group had to enter bankruptcy liquidation procedures, and this once brilliant financial giant is now overwhelmed by heavy debts.
The fate of 150,000 high-net-worth investors and 5,000 corporate customers has become confusing, and Zhongzhi Group's creditor's rights and interests are as high as 230 billion yuan, but under the law of the repayment order, there is almost no hope for the recovery of investors' financial funds.
All this begs the question, what caused this situation?
The debt problem has always been a lingering shadow for Zhongzhi Group, and although the company's business strategy has made it a lot of money, the high-risk investment and expansion strategy have also buried huge hidden dangers.
As the market environment changes and investment mistakes accumulate, these debts snowball and eventually become an unbearable burden.
According to the law, after an enterprise enters the bankruptcy liquidation procedure, the first thing to pay is the wages of ordinary workers, and the original intention of this provision is to protect the basic rights and interests of ordinary workers and ensure that they can get basic living security after the bankruptcy of the enterprise.
However, for many investors in Zhongzhi Group, this means that their funds will be at the bottom of the liquidation order, and the possibility of recovery is minimal.
In the process of liquidation, the realization of the company's assets is also a huge challenge, Zhongzhi Group has a large number of fixed assets and financial investment, but in the unfavorable market environment, the difficulty of asset realization has greatly increased.
The real value of many assets is well below book value, which further limits the company's ability to service its debts. The recovery of investors' funds has become even more distant.
Investor desperation is also spreading, with some of the 150,000 high-net-worth investors investing in their life savings, some even into their family fortunes.
These investors are full of trust in Zhongzhi Group, but in the end it ushered in such an outcome, in the face of huge losses, many investors choose the legal route, hoping to recover part of the losses through the judicial process, but the result is often the opposite.
The losses of corporate customers are also heavy, with as many as 5,000 customers of Zhongzhi Group, including some small and medium-sized enterprises, which have invested a lot of money in Zhongzhi Group, hoping to achieve better development with the help of its financial platform.
However, we must know that because of the bankruptcy of Zhongzhi Group, the capital chain of these enterprises has been broken, and their operations have fallen into difficulties, and many enterprises are even facing the risk of bankruptcy.
Faced with such a situation, Zhongzhi Group issued a public apology letter, acknowledging the company's financial difficulties and expressing its apologies to investors.
But an apology letter doesn't do anything to undo investors' losses or quell their anger, and once investors' trust collapses, the company's reputation will also collapse, all of which will make the future of Zhongzhi Group even more bleak.
The bankruptcy liquidation of Zhongzhi Group is not only a disaster for an enterprise, but also a warning to the entire financial market, although the high-risk investment strategy may bring high returns in the short term, but in the long run, stability and rationality are the foundation of enterprise development.
The lessons of Zhongzhi Group tell us that risk management and prudent decision-making are crucial in the pursuit of wealth.
epilogue
The bankruptcy liquidation of Zhongzhi Group has shown us the huge hidden dangers of high-risk investment, and also reminded us that we must be cautious and rational in the pursuit of wealth.
Frequent investment mistakes and management confusion eventually led to the collapse of this vast empire, but like the lessons of every failure, this financial tragedy is a wake-up call:
Investment needs to be cautious, management needs to be sound, and only in this way can we be invincible in the turbulent market.
#头条创作挑战赛#
Resources:
The Beijing News reported on January 29, 2018 "Mao Amin's husband, the founder of the trillion-dollar mysterious empire".
Chongqing Headlines on June 21, 2024 "Another "big thunder"! 1.14 trillion more than Evergrande, the giant entered bankruptcy liquidation".