"A group of "big guys" who have the model of buying land and selling houses in their blood want to play professional finance. No matter what the result is, the process is destined to be difficult. Ten years have passed, and the financial dreams of this group of Chinese real estate giants have become more and more important.
Clear. 'Money shortage' is the key word in China's financial market in 2013. In mid-June, the interbank lending rate and repo rate remained at a high level, reaching a record high of 13%.
, companies all over the world are looking for "money" in a panic, China City Alliance Investment Fund (China City Investment), jointly invested by domestic real estate giants, completed the largest round of private placement in history. In just 3 months, China City Investment.
It raised 1.3 billion yuan, more than 200% more than the planned target of 500 million yuan. "Zhongcheng Investment is not like an opportunistic company.
In June 2013, China's financial system encountered a moment of tight liquidity, but at this time, Zhongcheng Investment ushered in an unprecedented round of capital increase and share expansion in its development history.
Unprecedented beginnings often lead to unprecedented endings.
In just three months, Zhongcheng Investment raised 1.3 billion yuan, more than 200% more than the planned target of 500 million yuan.
After this fundraising, the total share capital of Zhongcheng Investment increased from 486 million yuan to 1.6363 billion yuan, a full 16 times increase from the share capital at the beginning of its establishment in 2002.
This fan fund, which was once obviously mutually supportive and fanciful, has now grown into a real estate fund management institution with the longest history, the most stable performance, and a growing reputation in China.
However, Lu Lin, the operator of Zhongcheng Investment, is not excited about such achievements. In his opinion, compared to the success of Zhongcheng Investment’s capital increase and share expansion, what he values ????more is the joint-stock company completed at the beginning of this year.
With the restructuring, as well as the positioning, development strategy and new business layout of the joint-stock company, he even defined the company's past 10 years as "prehistory" and 2013 as the "new first year".
Lu Lin told "China Real Estate Finance" that the overall change of Zhongcheng Investment from a limited liability company to a joint stock company is not just a simple change of name. It is based on the understanding of real estate and finance, and the inherent connection between real estate and finance.
To this extent, we position the company as a "private investment management institution focusing on the real estate field."
The management agency and the investor have an entrusting and fiduciary relationship, using expertise, technology and experience to manage the investor's assets; the management agency and the investee (investee) reach an investment relationship through equity and debt.
Therefore, this process is the process of creating and initiating value-added products, management and services by management agencies. It is the production process of financial products, just like the essence of investment banking business.
This transformation returns and restores the financial attributes of real estate fund management institutions, and evolves "real estate + finance" into "real estate finance."
This is not so much a great progress for Zhongcheng Investment as it is a great progress for the development of China’s real estate finance.