Abstract: Entering 2024, the real estate market continues to be turbulent. Lu Zhiqiang, who once sat on 83 billion, is now at the end of the road, and Oceanwide Holdings, which was founded by him, has recently received a notice of delisting from the Shenzhen Stock Exchange, which means that a generation of legends in the domestic real estate industry is about to come to an end.According to the news, the well-known real estate giant Oceanwide Holdings recently issued an announcement, saying that the company has received the Shenzhen ** Stock Exchange's "Decision on the Termination of the Listing of Oceanwide Holdings", and the Shenzhen Stock Exchange has decided to terminate the company's ** listing, which means that Oceanwide Holdings will be delisted within 15 trading days after the Shenzhen Stock Exchange makes a decision to terminate the listing.
According to the announcement, from November 30, 2023 to December 27, 2023, the daily ** price of Oceanwide Holdings** for 20 consecutive trading days was lower than 1 yuan, touching Article 9 of the ** Listing Rules (Revised in August 2023) of the Shenzhen Stock Exchange2.Termination of listing as provided for in Item (4) of Paragraph 1 of Article 1. According to the relevant regulations, the Shenzhen Stock Exchange decided to terminate the company's listing.
Since then, this real estate company, which has been on the Shenzhen Stock Exchange for nearly 30 years, has officially entered the countdown to delisting, and a generation of legends is about to come to an end. Once upon a time, on the day of Wanda Group's listing, Wang Jianlin thanked two industry bigwigs, one of whom was Lu Zhiqiang, the founder of Oceanwide Holdings, which shows Lu Zhiqiang's special status in the real estate circle and capital circle.
According to public information, Oceanwide Holdings was incorporated in 1989, 35 years ago. In 1994, Oceanwide Holdings was listed on the Shenzhen Stock Exchange, becoming the first batch of listed real estate enterprises in China, and its development momentum is quite strong. After the listing, Oceanwide Holdings has gradually expanded its financial field with real estate as its core business, and has core financial platforms such as Minsheng **, Minsheng Trust, and Asia-Pacific Property Insurance. It is worth mentioning that in order to expand the company's business scale, Oceanwide Holdings also carries out financial business overseas.
After 2014, the development of Oceanwide Holdings has entered its peak, with a market value of more than 100 billion, and the founder Lu Zhiqiang once played a role of 83 billion.
It took 30 years to build a 100 billion business empire, but it only took 3 years to fall. In 2020, Minsheng Trust, a subsidiary of Oceanwide Holdings, stepped on the 8 billion yuan fake ** case of Wuhan Jinhuang Jewelry, which was considered by the outside world to be the fuse for Oceanwide Holdings to fall into a debt crisis, and it was also this year that Oceanwide Holdings turned from profit to loss. According to the financial report data disclosed by Oceanwide Holdings, from 2020 to the first three quarters of 2023, the group's net profit has always been in a state of loss, of which the loss in 2020 was 46200 million yuan, a loss of 112 in 2021500 million yuan, 115 in 2022400 million yuan, with a loss of 68 in the first three quarters of 2023900 million yuan, in more than 3 years, Oceanwide Holdings has accumulated losses of more than 34 billion yuan. At the same time, the market value of Oceanwide Holdings has also dropped from more than 180 billion yuan to 105.2 billion yuan, which can be described as a downward slope.
As of the end of the third quarter of 2023, Oceanwide Holdings has a debt scale of more than 100 billion yuan, and the group's debt ratio exceeds 100%. In addition, Lu Zhiqiang, the founder of Oceanwide Holdings, has also been executed, and his personal execution amount is as high as 25.1 billion yuan.
The once infinitely brilliant real estate tycoon has now become the person to be executed, and the 100 billion business empire he founded is about to be fully delisted, which is really embarrassing.
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