Luo Yuzhu s prototype, earning 80 billion and losing it all, owed a huge amount of foreign debt

Mondo Social Updated on 2024-02-22

"Chicken Feathers Fly to the Sky" is a work that made the heroine "Luo Yuzhu" popular all over the country, and Yin Tao also won the honor of Magnolia Queen. In the play, Luo Yuzhu struggled step by step from a small trader to finally became a leader in the business world, showing the power of starting from scratch.

The information in these plots is **reliable**, which is elaborated in the preface at the end of the article.

From the "soil girl" who farmed the land to the richest woman in Zhejiang, Zhou Xiaoguang's story makes people sigh. She bought 200 companies in one year and amassed a fortune of 80 billion.

However, now she is not only penniless, but also saddled with huge debts. Her experience tells us that wealth is hard-won and needs to be cherished and used wisely.

Once, with her own efforts and intelligence, even Ma Yun wanted her to score three points. However, a wrong decision caused her to lose the fruits of years of struggle and get into trouble.

In order to regain her strength, she resolutely sold all her family property and embarked on the journey of entrepreneurship. At the beginning, she was just an ordinary citizen wandering alone in Yiwu, looking for a job as a worker, working diligently, moving bricks on the construction site, picking cement, and working as a painter.

Although life is difficult, she always believes that as long as she puts in the effort, she will be able to achieve her dreams.

Her abilities at that time were unmatched, and as long as she was paid accordingly, she could do an excellent job of any task, legal or illegal. It stands to reason that with her diligence and hard work, she can accumulate some wealth even if she works under other employers, but this is not the case.

Due to her family's poverty, she often sent most of her income home, and because she had been engaged in manual labor for a long time and lived a frugal life, she was often reluctant to eat well, and her health gradually appeared.

At that time, her salary was only 18 yuan a month, but she still lived a budget-conscious life, and she was reluctant to buy even a bowl of five-cent soup.

After recovering her health through recuperation, Zhou Xiaoguang realized that even if she worked hard all her life, it would be difficult to accumulate wealth. She began to think about how to change her life, and found that many people in Yiwu chose to engage in small business at that time, and she thought that this way had more opportunities to make money than working by herself, so she decided to try to do some small business.

Despite the failure of her local business, she did not give up. She resolutely went to Shanghai and started her own business selling sewing tools. For the next seven years, she would carry a small wooden box on her back almost every day and sell it on the streets.

Although the process was full of hardships, her perseverance paid off handsomely. She successfully accumulated 20,000 yuan, and met the other half of her life, Yu Yunxin, during this period.

Like her, he is a small trader, and Yu Yunxin runs goods near the dock, and as long as a passenger ship docks, he will do a snack business next to him. If it was a cargo ship, he would work as a coolie to help unload the cargo.

Their lives are simple, but full of fulfillment and joy.

He was a lively and capable young man who was well known in the local area. His experience was similar to that of Zhou Xiaoguang, which made them more aware of each other's hardships, and the two soon confirmed their relationship.

They were tired of their long life of wandering, and at the same time, she was pregnant. After discussing with their lover, they decided to rent a store in Yiwu and started their jewelry business.

She has accumulated rich experience and knows the importance of honesty in doing business. Therefore, she operated with integrity in the small commodity market, won the trust and support of customers, and the business was booming.

With their passion and hard work, the couple bought and sold goods one person, and the support policy of Yiwu City also gave them a lot of help. After less than five years of hard work, they realized their dream of starting a business by buying a property in the best neighborhood in Yiwu and opening a new storefront.

Although Zhou Xiaoguang's appetite has increased, she is born with the gene of being unsatisfied with the status quo. She began to think about expanding her business, and was no longer satisfied with the few small shops in front of her.

So, she seized the opportunity to enter the source of jewelry and opened her own jewelry factory. After discussing with her husband, they co-founded "Xinguang Jewelry*** The two of them jointly operate and keep the factory in good order.

Initially, the plant had 200 employees, but now it has expanded to more than 700 people.

Zhou Xiaoguang's jewelry business is booming, attracting many competitors to imitate. In order to maintain her leading position in the field of jewelry, she has always insisted on continuous innovation and constantly launched new products.

However, whenever a new product is launched, there will always be people who copy it. This has affected the profits of the entire jewelry industry.

Zhou Xiaoguang has set his sights overseas, introducing advanced technology and hiring a professional design team. At the 2000 Hong Kong International Jewellery Show, she entered the high-end jewelry market with her team's new designs.

This time the bet was right, Xinguang Jewelry successfully went abroad, and even the boss of Swarovski received her in person.

Since then, she is no longer satisfied with the status quo and is determined to become the queen of the Chinese jewelry industry. As we said before, she is a person who strives for excellence and is never satisfied.

If she continues to work hard in the field of jewelry, Shin Kong Jewelry is expected to become the next Swarovski.

She did not pass on her Xinguang jewelry to her son as ordinary people think, but entered the market as a retail high-end jewelry. Her bold ventures turned her life upside down, and she began to venture into the real estate industry.

Her decisiveness and courage are closely related to her family background. She was born in a small mountain village in Zhejiang Province, and as the eldest of the family, she has five younger sisters and one younger brother.

In her sophomore year of high school, she dropped out of school and returned home to work as a farmer in order to reduce the burden on her family.

The burden of the family made her realize early that life was not easy, and she bravely embarked on this road when she watched the people around her go out to work. The hardships of life have made her develop courage and perseverance.

These experiences also made her go further and further on the road of entrepreneurship. In 2004, Zhou Xiaoguang and his wife founded Shin Kong Real Estate Development and successfully acquired Zhejiang Wanxia, officially entering the real estate industry.

In 2016, Shin Kong Group successfully realized the listing of the real estate sector through backdoor support, realizing the rapid development of the enterprise.

In 2017, the husband and wife ranked 65th on the Hurun Report with a value of 33 billion. The following year, Zhou Xiaoguang became the richest woman in Zhejiang. Originally, she planned to retire after the company stabilized, but what she didn't expect was that hidden dangers had already been buried in the company's rapid development.

She is well aware that the real estate industry is a cyclical industry that requires continuous investment and slow returns, and it is not enough to rely on the profits of jewelry to cover the huge construction costs.

In addition, the property market at the time was hit by a waterloo, so she decided to seek financing.

In 2011, Shin Kong first tested the water to issue bonds, raising 1.6 billion yuan, it was this financing that allowed her to experience the convenience and speed of capital flow, in contrast, investment in the purchase of jewelry is obviously not effective.

Since then, she has been keen to continuously expand the scale of the industry through commercial means such as bond issuance, financing, and lending. By 2015, Shin Kong Group was no longer limited to jewelry and real estate, financial investment and other fields have also been involved, and it has become a hot enterprise in the Yiwu market and has also occupied a place in the real estate industry.

Shin Kong Group's development in the real estate business is booming, accounting for nearly 70% of revenue, rapid development of enterprises, and increasing appetite. In 2016, Shin Kong was successfully listed, with total assets of 80 billion.

However, the company's financial situation is stuck in a cycle of borrowing new to pay off the old. Just after becoming the "richest woman in Zhejiang" in March 2018, only a few months later, Shin Kong Group had a "thunderstorm" phenomenon, and the company was heavily indebted, especially two debt defaults totaling 3 billion, which made the rumors of its liquidity crisis confirmed.

Since then, Shin Kong Yuancheng's stock price has plummeted, and the company's debt crisis has been lurking, making Zhou Xiaoguang face problems such as asset restrictions, equity pledges and freezing, and under the ensuing pressure, in 2019, she was restricted from spending 45 times, and 72 times became the object of execution, with a total amount of more than 18 billion.

In 2021, the Intermediate People's Court of Jinhua City, Zhejiang Province, used the property of Zhou Xiaoguang and his family to collect debts, including multiple properties and luxury cars. However, despite the auction, these assets are a drop in the bucket for the massive debt.

In April 2023, Zhou Xiaoguang, who once disappeared from the public eye, resurfaced. She posted a message on social **: "My name is Zhou Xiaoguang, and a new chapter in my story has begun. ”

Since then, she has been posting various ** to share her entrepreneurial journey and experience. Some netizens have speculated whether she plans to transform into an influencer, but her successful resurgence remains to be seen by time.

Zhou Xiaoguang and his wife bought six of their own properties, according to reference information**, due to the need for residential improvement, a topic that was discussed in detail in the Economic Channel's "Classic Wealth Story" program.

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