"China Plant System" has never stopped staking.
On June165438+1October 17, Qingdao Zhongzhi Tian Ping Investment Management Co., Ltd. announced that it had won about 90 mu of commercial and residential land in Laoshan District with a paper of13.4 billion yuan, which once again made the low-key and invisible "Zhongzhi system" surface.
Different from the previous fixed cooperation, this land acquisition is the first time that Zhongzhi Group has entered the real estate market as an individual, and it is also a prerequisite for its commitment to move the financial industry to Laoshan District to obtain the development of these three plots of land.
This is not the first time that Zhongzhi Group has become attached to Qingdao, because Laoshan District is the core area of Qingdao National Experimental Zone for Comprehensive Reform of Wealth Management and Finance. Xie Zhikun, Chairman of the Board of Directors of Zhongzhi Group, invested the future development space of wealth management industry in Qingdao, which is also the first choice for Zhongzhi Group to optimize its strategic layout.
On March 20th this year, Zhongzhi Group reached a strategic cooperation with Laoshan District Government. Its four wealth companies, Hengtian Fortune, datang wealth, Xinhu Fortune, Goldman Sachs Fortune and Zhongronghuixin Futures, will settle in Laoshan District, and carry out all-round cooperation with Laoshan District to build "the first wealth management center in China".
Up to now, Zhongzhi Group has invested 654.38+005 billion yuan in Qingdao, with a continuous investment scale of 4.7 billion yuan. The cooperation scope covers Qingdao Jin Wang, Hailiwei and other equity investment projects, Qingdao (Jison) Fund Town Project and various real estate projects.
The cooperation with Laoshan District is only a small part of the investment map of "China Plant System". In the ups and downs of the capital market for nearly 30 years, "China Flora" has always been an existence that cannot be ignored. In the past few years, under the control of Xie Zhikun, the "Zhongzhi Department" who is familiar with capital operation knows the sensitive areas of domestic finance and capital, especially the secondary market of A shares. Repeatedly rely on backdoor restructuring, transfer and other "routines" to frequently enter and exit various listed companies. While building a trillion-dollar empire, it also stepped on many minefields and encountered financial supervision.
Low-key mysterious well-off husband Mao Amin ... This is the intuitive feeling of Xie Zhikun from the outside world, but it is difficult to get a glimpse of the real internal operation of the "China Plant System".
Phantom of "intermediate factory system" in real estate circle
Compared with Anbang's takeover, HNA's trillion-dollar empire is "ischemic", "Tomorrow Department" sells assets to repay loans, and "Zhongzhi Department" has been secretly expanding, and has gradually become active in recent years, becoming the largest shareholder of many listed companies.
Through a series of struggles in the capital market, we can easily find that Zhongzhi is skillfully applying the rules of the game in the capital market. Mainly through the fixed increase and secondary market acquisition of listed companies, participate in the capital operation of listed companies to obtain more equity or cash, further cooperate with listed companies and their related parties, and then raise the stock price, and then reduce their holdings and cash out through equity transfer and other means to obtain huge investment income.
An insider in the financial circle mentioned that Zhongzhi Group and Zhongrong Trust used the "PE+ listed company" model to play games around a number of listed companies and gained a lot of income. Some even seek to quit soon after entering the company, and most of their past achievements are concentrated in the secondary market. Letv, Kangmei Pharmaceutical, Hong Zhong, Changsheng Bio, Kangdexin, Oriental Garden and other "big thunder stocks" and "Zhongzhi" are almost gone, but they have also made a lot of money in Baode, Kang Sheng and Chaohua Technology.
"Zhongzhi Department" has many actions in the real estate industry and is the "golden master" behind many housing enterprises.
33.1200 million yuan took over the unfinished building Hong Zhong Building, and then spent 6.5438+0.2 billion yuan to acquire the sports project of Beijing University of Technology. Zheng Kanghao, the head of Huang Ting International, sold 20% of the shares to help out, and finally found the source of foreign aid Kang Shunsheng. It was Xie Zhikun, the head of the "Unity School" and the "Unity School", who provided support for Caesar and made him resurrect soon. China Evergrande, which swims in the capital market, also has the figure of "Zhongzhi Department" as the source of funds, and its Zhongrong Trust has always been a hardcore partner of Evergrande.
The game between capital and real estate, "Chinese plant system" has always been familiar. Zhongrong Trust is its hub and chip, which bears the important responsibility of original capital financing.
The most recent one was a land auction with jiayuan International in Jiaxing, Zhejiang at the end of 10. Since Jiayuan International joined hands with Zhongzhi Department to seize the land market in Jiaxing for the first time last year, the two sides have cooperated many times, with Jiayuan International holding 60% and Zhongzhi Department holding 40%.
When "Zhongzhi Department" bought Beijing Gongti No.3 apartment, Shimao's name was mentioned in the partner's name. On April 26th, 2020, Hai Shengrong, an investment platform of "Zhongzhi Department", disclosed the acquisition of the West Road Apartment Project of Workers Stadium in Dongcheng District, Beijing (No.3 Apartment of Beijing Workers Stadium), and introduced Shimao Group for cooperation with 40% equity. It is widely rumored that Shimao is the largest partner of the "Zhongzhi Department" in the real estate circle. Through the platform of Zhongzhi Chuangxin Investment, Shimao has established a number of companies with a 50:50 equity ratio.
Followed by Caesar. 20 17 September, half a year after Caesar's resumption of trading, Guo Yingcheng, the head of Caesar, introduced foreign aid in exchange for the project income, and his subsidiary, Zhonghai Rong Sheng, acquired 5 1% equity of Caesar's Shenzhen Nanmendun urban renewal project by setting up a fund of 3.5 billion yuan. According to CIIC, Shenzhen is a "treasure land" that investors don't want to miss.
At that time, if the price was 633,000 square meters, the unit price was 40,000, and the saleable value of the project exceeded 25 billion. For Caesar, introducing capital means sacrificing the profits of the future part of the project, but the "Chinese plant system" has expanded its territory.
An executive of a real estate company in East China said that the "Zhongzhi Department" has a relatively simple investment in the real estate industry, does not seek control of listed real estate companies, rarely excessively interferes with business operations, and plays the role of a financial investor, but its capital cost is not low. Relatively speaking, the "Zhongzhi Department" is not so strong.
This may also be Xie Zhikun's tactics. Judging from his past manipulations, he did not directly hold shares in his listed companies. Through the multi-layer shareholding structure design, his shareholding has become hidden and scattered, and it is difficult for the outside world to spy on the whole picture of "Zhongzhi".
Sweep the capital market
Who the hell is Xie Zhikun? What is the origin of "intermediate plant system"?
For a long time, Xie Zhikun and his "mesophyte" were legends. "Husband of famous singer Mao Amin" and "Brother of General Manager of Central Huijin Company" ... Xie Zhikun was labeled one by one, and various speculations and rumors continued for many years, but he never responded.
According to anecdotal data, in the 1980s, Xie Zhikun was only a worker in a printing factory in Wuying District, Yichun City, Heilongjiang Province. At that time, the printing factory was losing money, and Xie Zhikun was appointed as the factory director and contracted because of his outstanding ability. Under the leadership of Xie Zhikun, the operation of the printing factory in Wuying District has greatly improved. Later, he went to the sea to do business, looking for various ways to make money, and successively opened noodle factories, clothing factories, wood storage factories, cement factories and farms, and acquired state-owned non-performing assets in Wuying District. From 65438 to 0995, he built a mini version of Zhongzhi Group in Yichun.
Subsequently, M&A was launched, involving in real estate development, industrial investment, mining investment, highways, water conservancy and many other fields, and the "China Plant System" gradually took shape.
The most critical turning point was in 2002, when "Zhongzhi Department" entered Zhongrong Trust, relying on this platform to gradually enter the financial field, and completed the transformation from industry to "full license" financial control empire.
By the end of 20 14, "Zhongzhi Department" has woven a huge capital network, ranking among the top ten shareholders of more than ten listed companies such as Zhongnan Heavy Industry, Xingye Mining and Shanghai Electric. The A-share market has disclosed more than 50 cases of enterprises that use CIIC for capital operation, such as TCL Group, Foton Motor, Du Jia Science and Technology, Meg, Jinye Jewelry, etc., and their business scope has covered many industries such as finance, real estate, automobile, culture, environmental protection, agriculture, film and television, and the total assets scale has exceeded one trillion.
Over the years, the "Zhongzhi Department" has galloped in the domestic A-share market and completed a series of extremely meticulous and radical capital operations.
Investor newspaper once said that this huge enterprise group has an extremely complicated ownership structure, which is difficult to see through, shell companies are used and abandoned, capital operation is dazzling, and members of the "direct line" cooperate closely, but it is skillfully designed and sophisticated in avoiding the control relationship in the legal sense and cutting off the crisis of capital chain, which makes it easy to be on the edge of rules.
According to insiders of Zhongzhi, Xie Zhikun's ambition is to be China's Buffett-not only to make his own investment successful, but also to lead others, including investors, to succeed.
Matching it is a series of financial institutions controlled by Xie Zhikun, which supports the expansion of the capital map of "China Flora". According to public information, companies in which Xie Zhikun directly owns or controls 5% or more shares include Zhongrong Trust, Zhongrong Fund, Zhongrong Futures, Hengqin Life Insurance and Hengbang Property Insurance. Among them, Zhongrong Trust, which holds 32.99% of the shares, is the core. Even Liu Yang, the current chairman of Zhongrong Trust, is Xie Zhikun's nephew. But now this "Chinese plant line" is deeply involved in ST shares, and the accumulated loss has exceeded 10 billion yuan.
Once the investment mode of "PE+ listed company" is brought into full play, it is hard to say that the past investment mode is applicable to every investment target. For example, Kangdexin, whose A-shares were exposed to fraud last year, as the second largest shareholder of Kangdexin, is estimated to lose about 5 billion yuan. In addition, the "Zhongzhi Line" has also stepped on companies such as ST Tianma with 30 consecutive daily limit and ST Changsheng with fake vaccines.
In the real estate industry, "Zhongzhi Department" also makes good use of complex capital operation. Besides Shimao, Caesar and Huang Ting International, we also have close ties with listed real estate enterprises such as Daming City, Wantong Real Estate and Blu-ray Development.
20 16 In April, Daming City acquired 0/00% equity of Zhongzhi Company for 2.5 billion yuan, forming a goodwill of 0/6.52 million yuan. Zhongzhi Group provides joint and several liability guarantee for the company's commitments from 20 16 to 20 19. Within one month after the announcement, the subsidiary of "Zhongzhi Department" spent 2 billion yuan to increase its shareholding in Daming City in the secondary market, forming closer cooperation.
An executive of a P2P financial company believes that this is a combination of industry and finance. "Zhongzhi Department" first spent 2 billion to increase its holdings of famous cities, which is essentially equivalent to exchanging assets for equity. At that time, both sides should have the idea of building a financial map.
As a result, two years later, Daming City announced that it planned to resell the medium-range lease with serious losses to the company under the "Zhongzhi Department" for 2.5 billion yuan. The two sides agreed to pay the transfer fee of 2.5 billion yuan in five installments, and in the last transaction, "Zhongzhi Department" breached the contract.
What game is buying and selling? The "Chinese plant system" can't come up with 500 million. Is it because of the shortage of funds or other reasons? There are constant doubts in the market.
A similar story happened to Vantone Real Estate. In October, 2065438+200765438+24/kloc-0, Vantone Real Estate announced that the shares directly or indirectly held by Zhongrong Ding Xin did not exceed 35% of the total share capital of Vantone Holdings. Zhongrong Ding Xin is a subsidiary of Zhongrong Trust, and the actual controller behind it is naturally "Zhongzhi Department". Not surprisingly, five months later, Vantone Real Estate spent another 500 million yuan to buy 0/00% equity of Zhongrong Guo Fu/KLOC, a subsidiary of Zhongrong Ding Xin, and the book value formed a goodwill of 482 million yuan.
A private equity person who does not want to be named believes that this is like a game of "belonging to the family", with the focus on asset speculation. Under normal circumstances, as long as the "Zhongzhi Department" takes the initiative to attack, listed companies will cooperate and both buyers and sellers will profit. If there is an uncooperative company, "Zhongzhi Department" can also put it on the auction platform through debt and other means, and finally realize the holding. "Zhongzhi" has always had the legend of "two shareholders in a thousand years" in the financial circle.
In fact, these are all pyramid-like operation modes used by "China Plant System". It is like a high-speed capital train, and its investment style and arbitrage path are surprising. Although it is secretive and low-key, the "Zhongzhi Department" has entered the regulatory field of vision, and fines, insider trading and breach of contract have followed. A trillion-dollar financial empire will eventually face the era of strong financial supervision.