Wen Leju Finance Xu Shumin
In recent months, Liu Zhiqiang, chairman of the board of directors of Heung Kong Group, has made many appearances.
Most of the activities attended were related to overseas Chinese businessmen.
In October, he attended two events - the Hebei tour of well-known overseas Chinese businessmen at home and abroad, and the 3rd World Overseas Chinese Business Conference.
A few days ago, he was also elected as the honorary president of the fifth council of the Guangdong International Chinese Chamber of Commerce. The Guangdong International Chinese Chamber of Commerce is a non-profit social organization voluntarily formed by Chinese and overseas Chinese who invest in Guangdong Province, and is a bridge and link between the Guangdong Federation of Returned Overseas Chinese and overseas Chinese enterprises and Chinese businessmen at home and abroad.
His Heung Kong Group has been established for more than 30 yearsThe industry involves many fields such as home life, resources and energy, scientific and technological innovation, cultural tourism and health, education industry, and financial investmentAssets are huge, whether it is to maintain development or expansion, it is inseparable from dealing with multiple subjects.
Many people's impression of Heung Kong Group is still in the stage of Jinhaima Home Furnishing, and there is the development of thousands of acres of ** splendid Xiangjiang and Emerald Oasis. That was more than 20 years ago.
At present, the contract dispute between Heung Kong Group and Guoxing Global has lasted for many years, and the dust has finally settled, but the company's transformation path is still not very clear.
A multi-year dispute came to an end
The latest development of Heung Kong Group is about the outcome of a contract dispute case.
Heung Kong Holdings, the listed platform of Heung Kong Group, has released the second-instance judgment of the contract dispute with Guoxing Global, ruling that Guoxing Global needs to refund 9219 to Heung Kong Holdings440,000 yuan.
This case has been going on for many years and involves a dispute between the two parties over the first-level development and consolidation of land.
Specifically, back in 2010, Heung Kong Holdings reached an agreement with Guoxing Global, stipulating that the latter would carry out the primary land development and consolidation work for the former. Combined with various expenses, Heung Kong Holdings actually paid a total of about 12.7 billion yuan.
It's just that the progress of cooperation has not been satisfactory. In September of that year, Guoxing Global agreed to deliver the developed 680 to the subsidiary of Heung Kong Holdings349 acres of land. However, Heung Kong Holdings only obtained 100 acres of it through bidding, auction and listing in the following year, and it took seven years to obtain another 16956 acres of land use rights.
Heung Kong Holdings was dissatisfied with this, so in May 2020, the other party only developed and sorted out 26956 acres of land, asking to terminate the agreement and let the other party return 9219450,000 yuan and interest on capital occupation.
Guoxing Global filed a counterclaim, arguing that it had already delivered 680., which had been developed and sorted out in accordance with the agreement, to the subsidiary of Heung Kong Holdings349 acres of land. The reason why the other party has not obtained the remaining 410 acres of land is because these lands are in the process of submitting for approval, and they can be transferred after approval.
It also launched a "counterattack", saying that the total cost of land development and consolidation was 13.6 billion yuan, the difference should be made up by Heung Kong Holdings;In addition, the premium share income of part of the land lost by Guoxing Global should also be repaid by Heung Kong Holdings.
At present, the second-instance verdict has been issued, and Heung Kong Holdings still has the upper hand.
Looking back on this case, it is the epitome of Heung Kong Holdings' collapse of real estate at that time.
At that time, Heung Kong Group successfully developed the Emerald Oasis and the Splendid Xiangjiang Garden in Guangzhou, especially the Splendid Xiangjiang Garden, which was also included in the "Eight King Kongs of South China", which was in the limelight for a while. From 2006 to 2008, Liu Zhiqiang's family wealth increased from 25100 million yuan rose to 68700 million yuan, and the real estate business contributed a lot.
Liu Zhiqiang is full of confidence and is ready to follow Zhu Mengyi, who is a member of Hopson, to go north to Tianjin and copy the ** model. However, as the Beijing-Tianjin New City built by Zhu Mengyi fell into a quagmire, the situation of the 2,300 acres of land obtained by Xiangjiang Group next to it was not optimistic. For more than ten years, the progress of the project has been extremely slow, and the sales of the developed Xiangjiang Splendid Garden have not been satisfactory.
Heung Kong Group's real estate expansion also stalled for a time.
Relay of husband and wife
Heung Kong Holdings is the platform of Heung Kong Group, which is mainly responsible for real estate investment and developmentAnd the main controller of the platform at the moment is Liu Zhiqiang's wife Zhai Meiqing.
In the list of senior executives of Heung Kong Holdings, Zhai Meiqing holds the position of chairman, while Liu Zhiqiang does not hold office.
In fact, not only the platform of Heung Kong Holdings, but also the entire Heung Kong Group, most of the public activities over the years have been attended by Zhai Meiqing.
Leju Finance found,In May this year, Zhai Meiqing's position in Heung Kong Group was still the president, but the latest announcement on the official website shows that Zhai Meiqing has become the chairman.
The husband and wife, both founders, are now the chairman of the board of directors and the other are the chairman, which can be regarded as equals.
To a certain extent, Zhai Meiqing's limelight gradually overshadowed Liu Zhiqiang. During the two sessions this year, Zhai Meiqing, in her capacity as a member of the National Committee of the Chinese People's Political Consultative Conference, made a proposal.
She is a member of the 12th, 13th, and 13th National Committee of the Chinese People's Political Consultative Conference, and Liu Zhiqiang is the first.
Members of the 8th, 9th, 10th, and 11th National Committee of the Chinese People's Political Consultative Conference, the couple seem to be relaying.
Liu Zhiqiang left more room to play to Zhai Meiqing.
Relevant information shows,Liu Zhiqiang currently serves as the legal representative of only one enterpriseAnd it has been deregistered, with 4 foreign investment companies, and 10 companies have positions, most of which are directors and supervisors.
and Zhai Meiqing served as the legal representative of 18 companiesIt has invested in 4 foreign companies and has served in 37 enterprises, and most of them are chairmen and general managers.
These enterprises involve various industries such as cultural tourism, financial investment, home furnishing, and real estate.
But the most critical controlling stake is still tightly held in the hands of Liu Zhiqiang. The shareholding ratio of Heung Kong Group, Liu Zhiqiang and Zhai Meiqing each accounted for %.
They started a business together and worked hard back then, and they were "husband and wife" to the outside world.
In the 90s of the last century, the two went south to Shenzhen to start a business and founded the "Golden Haima Furniture Market", relying on the advantage of the price 70% lower than that of their peers, and expanded rapidly and became a well-known home furnishing enterprise in China.
Since 2000, Liu Zhiqiang no longer sticks to the home furnishing chain operation, and has begun to cross the border in real estate, finance and other fields. At that time, outside the male protagonist and the female protagonist, Zhai Meiqing once expressed the relationship between the two like this:"He is the general who charges into battle, and I am the logistics of the first grain and grass."
Now, the division of roles between the husband and wife seems to have begun to be exchanged.
The second generation looms in the transition
The development path of Heung Kong Group has changed since 2015.
As mentioned above, Heung Kong Group is involved in many industries and has a large number of assets.
On the official website of Heung Kong Group, the order of listing of industrial clusters is as follows:Trade and logistics, resources and energy, health industry, financial investment, education industry, urban operation.
It takes trade logistics as the primary sector. According to the official website, Xiangjiang Group started in the home furnishing circulation industry, with two major home furnishing circulation chain brands of "Xiangjiang Home Furnishing" and "Jinhaima Home", and its home furnishing stores are all over the country, with a total operating area of 5 million square meters.
In the home furnishing sector, Heung Kong Group is slowly diluting the label of "Golden Horse Mall". On the homepage of the official website, the industrial cluster section shows the trade and logistics Jinhaima Mall, but when you click into the Jinhaima Mall, there is no content display.
It is building a huge business logistics platform to create a new intelligent business ecosystem.
As for the real estate sector, since around 2015, Zhai Meiqing began to transform. The business focus of "focusing on residential real estate development and sales business" has gradually shifted to the strategy of "focusing on the development, sales and operation of commercial and logistics real estate".
It's just that over the years, there hasn't been much transformation. In recent years, Heung Kong Holdings' contracted sales amount has continued to increase. In the first half of this year, the contracted sales area of Heung Kong Holdings' real estate was about 8840,000 square meters, the contracted sales amount is about 10$2.1 billion.
In recent years, Heung Kong Holdings has rarely acquired land. As of June 30, 2023, it held a land reserve with a gross floor area of approximately 5.67 million square meters, of whichIn the future, the construction area of the land available for development is only about 2.74 million square meters.
In terms of financial investment, since 1998, Heung Kong Group has successively invested in China Guangfa Bank, GF**, GF**, Guangfa**, Guangdong Nanyue Bank, Bank of Tianjin, etc., and established Heung Kong Financial Holding Group in early 2013.
A few years ago, Liu Zhiqiang and Zhai Meiqing intended to let their son Liu Gensen take charge of Xiangjiang Financial Holdings. In 2016, Liu Gensen officially joined Heung Kong Financial Holdings as chairman and general manager.
But three years later, Liu Gensen's position was changed from chairman to director, and Zhai Meiqing became chairman. It can be seen that the second generation did not continue to be independent.
At present, Heung Kong Financial Holdings has invested in 33 enterprises, involving micro-loans, commercial factoring, insurance and other companies.
It is not yet known how Liu Zhiqiang will lay out next.
This year, he went to Luoyang to visit Xin'an County, and participated in the Inner Mongolia Investment Promotion Conference and Cooperation Project Signing Ceremony (Guangdong-Hong Kong-Macao Greater Bay Area).
Luoyang and Inner Mongolia may be the key cities for his next layout.