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The actual controller, Lu Zhiqiang, is an entrepreneur in Shandong and was once the richest man in Shandong. He started his business in 1985, and after years of development, his company, Guangcai Business Investment Group, was listed on the backdoor in 1998, and then changed its name to Oceanwide Construction, and then transformed into Oceanwide Holdings. At its peak, Oceanwide Holdings participated in dozens of listed companies, involving real estate, energy, finance, science and technology and overseas investment, with total assets of more than 300 billion yuan.
However, in recent years, *ST Oceanwide has been in trouble. According to public information, the company** was below 1 yuan for many consecutive trading days in May 2019, and then issued a plan to increase the holdings of directors, supervisors, senior executives and controlling shareholders acting in concert, and the stock price also rebounded for a period of time. However, the later increase in holdings was significantly weak, and the stock price eventually turned downward. In order to boost market confidence, China Oceanwide Holding Group, the controlling shareholder of *ST Oceanwide, originally planned to increase its stake in the company by between 100 million yuan and 200 million yuan.
However, surprisingly, China Oceanwide ended up only increasing its holdings of 1,100 shares of the company, totaling only 2,889 yuan. The company said in the announcement that in the process of implementing the shareholding increase plan, it was affected by factors such as its own financial pressure and poor financing channels, and could not reach the lower limit of the amount of the shareholding increase plan. This means that the company's controlling shareholders have failed to deliver on their promises and have also violated relevant regulatory requirements.
The failure of this shareholding increase plan also made the situation of *ST Oceanwide more difficult. On December 28, 2023, the Shenzhen ** Exchange issued a "Prior Notice" to the company, proposing to terminate the listing and trading of *ST Oceanwide**. According to the relevant regulations, once the daily ** price of a company is lower than 1 yuan for 20 consecutive trading days, it will touch the situation of ** termination of listing. There is no doubt that this is a huge blow to *ST Oceanwide.
Lu Zhiqiang is a typical successful entrepreneur. Born in Weihai, Shandong Province in 1952, he decided to start his own business in 1985. At first, the company he founded was Guangcai Business Investment Group *** in 1998, and through backdoor listing, he pushed the company to a bigger stage. With the change of equity, the abbreviation of the company has also changed from Guangcai Construction to Oceanwide Construction. Oceanwide, whose main business is real estate, has made certain achievements in the market.
However, at the beginning of 2014, the board of directors of Oceanwide Holdings made a major decision to transform into a comprehensive holding listed company covering finance, real estate and strategic investment. The company name was also changed to Oceanwide Holdings accordingly. This strategic transformation decision has enabled Oceanwide to diversify its operations and expand the company's business scope and potential.
Oceanwide Holdings reached its peak in 2016, achieving an operating income of 246.7 billion yuan, an increase of 79% year-on-year4%, an all-time record. At the same time, Lu Zhiqiang's personal wealth has also grown rapidly, and he has entered the top 10 of the "Hurun Report" for two consecutive years. In 2015, he became the richest man in Shandong Province with a fortune of 83 billion yuan. However, with the changes in the economic situation and the emergence of the company's difficulties, Oceanwide Holdings is facing huge challenges.
Lu Zhiqiang's personal experience is admirable. He has gradually developed from an ordinary entrepreneur to an actual controller with multiple listed companies, and is at the top of the wealth list. His success is inseparable from his vision and courage. He dared to carry out corporate transformation, transforming the company from a single listed real estate company to a comprehensive holding listed company in response to market changes and development trends.
However, *ST Oceanwide's predicament also gives us some food for thought. Whether it is a business or an individual, there will be various challenges and difficulties. In today's competitive business environment, it is not easy to maintain success and stability. Enterprises must constantly innovate and adjust their strategies to adapt to market changes and remain competitive.
In addition, personal success does not depend solely on achievements in one or one field. Lu Zhiqiang's successful experience shows that a person's success is the result of a combination of many factors, including personal talent, decision-making ability, teamwork and market opportunities. Therefore, while pursuing personal success, we should pay more attention to our all-round development and improve our abilities and qualities.
Finally, we need to be humble and cautious. The story of Oceanwide Holdings and Lu Zhiqiang tells us that success is not eternal, and the market environment and economic development are changing. We should not be too complacent and superstitious about past achievements, but always maintain a sense of awe, always pay attention to the dynamics of the market and the industry, and adjust and improve our business strategies in time to meet the challenges of the future.
In short, Oceanwide Holdings reflects the dilemmas and challenges faced by the company. Lu Zhiqiang's personal success experience and the transformation process of the enterprise have provided us with some valuable inspiration and reflection. In an uncertain business environment, we should remain calm and humble, constantly adapt to market changes, and improve our own capabilities in order to remain competitive and sustainable in the competition.
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