Category: Money Tips Date: 2005-12-13
In 1992, Chen became the company's executive vice president of Yongle Home Appliances, four years after the collapse of the company.
After the respective "Shanghai Yongle fine commercial buildings", "Shanghai Nanhui fine commercial buildings", "Shanghai Yongfeng real estate development company" as the main body, and Chen, beam as, Liu Hui, beam only, Wen-Juan Sun and other 12 natural persons, invest 6 million yuan to re-establish a new appliance wholesale company --- Shanghai Yongle Household Electrical Appliances Joint Sales Co., Ltd. (now Wing-lok's predecessor), re-playing the "Paradise" on the cover. Chen was only invested 700,000 yuan accounting for shares of 11.6667%, beam invested 250,000 yuan to, Liu Hui 400,000 yuan.
That time, Huang Guangyu of Gome Electrical Appliances has completed the chain structure, and began to set foot in real estate investment in Beijing, the construction of Pengrunjiayuan 1.3 billion.
Zhang Jindong, Nanjing is also the scale of the development of Suning's business to 15 billion yuan, and set up the first foreign subsidiary of Suning --- Yangzhou Su Ning, to begin a nationwide chain of development.
However, only after a one year or so, due to high rate of corporate liabilities (about 83%), Shanghai Yongle Boutique Villas, Shanghai Nanhui Boutique Villas, Shanghai Yongfeng Real Estate Development Company will be held by the three companies began the transfer of shares according to the original price At that time some of the natural person shareholders, of which commercial and Wing Fung Wing-lok, boutique real estate is totally out of Yongle Home Appliances. By 2002, the three company's shares to the then completely Chen, bundle of, Liu Hui, Ya hands of stone and ESOP Association.
Specializing in retail and two harvest Shanghai overlord In 1998, the Yongle Home Appliances abandoned wholesale, specializing in retail, in Shanghai's first big-ticket goods free of charge delivery service, and has taken the first step in a chain operation with annual sales that year to achieve 400 million yuan.
In 1999, the Yongle sounded the clarion call to enter the country, Jiangsu Nantong Yongle stores opening; in 2000, Wing-lok for the first time to launch a large-scale price war, when the annual sales of over 1.2 billion consumer electronics market share in Shanghai reached 15% in Shanghai appliance market's "hegemony."
In 2001, the Yongle broke through the chain size of 20, be extended to Jiangsu, Zhejiang and other places in many cities, with annual sales to achieve 20 billion, also in that year had been out nine in Shanghai, the foreign giant country store Tong Electric crashing fall; in 2002, Yongle has become an annual sales of 160 billion yuan, ranking the country third in home appliance chains, and in the Shanghai market share of 65% Zeyi firmly occupy the first position.
Followed in December 2003, Wing-lok, mergers Guangzhou East Ze appliances, for the first time out of the Yangtze River Delta. From this year on March Yongle registered capital by 31.5 million capital increase to 100 million yuan since its highest, has 75 members of the ESOP Association in a number of members of the shadow began to disappear from the Yongle general meeting of shareholders, but they have put their own shares transferred to Chen, bundle of, Liu Hui, YUAN Ya-four stone.
The introduction of foreign capital to help market In January 2005, Morgan Stanley received 50 million U.S. dollars to 20% stake in Yongle, becoming the third-largest shareholder of Yongle and began planning to help Wing-lok, listed in Hong Kong. At this point, the natural person shareholder of Yongle only the chairman of Chen, vice chairman and vice president of beam as, vice president and general manager of Jiangsu, Liu Hui, director of Ya Shi.
From the April start to a month Yongle "annexation" of the speed of a local company to Kwong Yuen, Jiangsu, Nanjing Lantern, Chengdu Department Store (electrical) reverted to under their command, to July, has even more in Henan Tongli and灿坤3C (channels and currency) "a result of eating," Wing-lok, a regional chain of stores last big bang out of the image of success in September through the HKEx Listing Committee hearing.
Today China Paradise's official listing will enable Chen, with its listed companies have about 15% of individual shares, worth at least 800 million yuan.
Moreover, since China is about 23.56% stake in Yongle beneficiaries belonging to Wing-lok, four executives --- Shen Ping, WANG Ming-hua, Huang Bao-Ming and Zhu Jianjun, as well as 46 Shanghai Yongle existing staff, leaving staff and business consultants, which is 50 people of the shares in trust by Chen sole discretion, so even if Morgan Stanley held by the Department of Asian direct investment in China Paradise 19.04% of the shares, higher than Chen's 15%, but the power is still firmly in the discourse Yongle lies in the hands of Chen.
According to recently released 2005 Hurun Rich List list the mainland, Chen order worth 2 billion yuan No. 66.
