Abao’s success is inseparable from his uncle’s guidance. Xu Jiayin can succeed because there is an "uncle" behind him, and he is Zheng Yutong, who has hundreds of billions of assets.
In 2016, Zheng Yutong passed away in Hong Kong, and his funeral caused a sensation across the country. Hong Kong tycoons such as Li Ka-shing and Lee Shau-kee supported Zheng Yutong together. You must know that when gambling king Stanley Ho passed away in 2020, Li Ka-shing and Lee Shau-kee did not even attend the funeral, let alone support the funeral. This shows Cheng Yutong’s status in Hong Kong.
Zheng Yutong has been as famous as Li Ka-shing and Lee Shau Kee for many years. Together with Guo Desheng, they are known as the four richest people in Hong Kong. It’s just that Zheng Yutong passed away in 2016. If he sees the trouble Evergrande is causing now, he may regret helping Xu Jiayin back then.
In 2009, Xu Jiayin took out US$500 million in gambling financing in order to hit the market. At the same time, Evergrande has also grown crazily in scale within a year, with debt approaching tens of billions. However, due to the subprime mortgage crisis in the United States at that time, Evergrande's listing was hindered. At that time, Evergrande was already facing the problem of funding shortage.
At this time, Xu Jiayin found Zheng Yutong through Yang Shoucheng's relationship. It is said that Xu Jiayin spent three months "hoeing the earth" with the old man at Zheng Yutong's house.
Zheng Yutong was also playing cards with Xu Jiayin while inspecting this young man. He was also looking at whether Evergrande and Xu Jiayin were worth investing in. It can be said that Zheng Yutong, the "uncle", is also very important to Xu Jiayin. Without Zheng Yutong's help, Xu Jiayin would have had problems at that time.
After three months of communication, Zheng Yutong felt that Xu Jiayin was still OK, so he not only gave Xu Jiayin a lot of guidance, but also teamed up with Deutsche Bank and other institutions to invest US$500 million in Evergrande. Among them, Zheng Yutong through his own Chow Tai Fook The company invested more than US$200 million.
At the same time, Zheng Yutong also introduced an important person to Xu Jiayin, that is Liu Luanxiong. Liu Luanxiong will also have a lot of cooperation with Evergrande in the future.
It was with Zheng Yutong’s investment of US$500 million that Evergrande was able to come back to life and complete its listing in Hong Kong at the end of the year. At the listing ceremony of Evergrande, Xu Jiayin can be said to have unlimited glory. Zheng Yutong was present in person, and also brought Hong Kong tycoons such as Liu Luanxiong, Yang Shoucheng, He Zhuguo and Zhang Songqiao.
These rich people are all people in Zheng Yutong's poker game, and they are also people in the same circle. At that time, so many wealthy people came together to support Evergrande, which naturally shocked the capital market. After Evergrande went public, Xu Jiayin soon became the richest man in China with a net worth of 40 billion.
After Evergrande went public, Xu Jiayin also experienced great luck for 10 years. When Evergrande was listed, its sales were only 30 billion, but it exceeded 100 billion in three years, and it took another five years to exceed 500 billion.
At the same time, Evergrande also began to enter the automobile, mineral water, finance, grain and oil and other industries, becoming a super business empire with assets of more than 2 trillion yuan.
Xu Jiayin himself became the richest man in China again in 2018, with a net worth of as high as US$40 billion. Xu Jiayin was indeed very prosperous at that time. With real estate on his left hand and sports on his right hand, he became the most eye-catching super rich man. Even Jack Ma was very close to him at one time.
In the eyes of many people, there is a certain force behind Xu Jiayin, and that is those Hong Kong rich people. In 2015, Xu Jiayin's Evergrande spent more than 50 billion in one go and took over the assets of Liu Luanxiong's Chinese Real Estate, Zheng Yutong's New World, and Zhang Songqiao's Zhongyu Land in Hong Kong and the Mainland.
With Zheng Yutong as his uncle, Xu Jiayin began to dominate the capital market. After that, the Zheng Yutong family had many cooperations with Xu Jiayin. Companies such as Evergrande Property Management and Evergrande RV Bao later had investments from Zheng Yutong’s son Zheng Jiachun.
Zheng Yutong passed away in 2016, and Xu Jiayin also rushed to Hong Kong from the mainland to see him off. Cheng Yutong is not only the boss of New World Properties, but also the boss of Chow Tai Fook. His Chow Tai Fook jewelry stores are spread all over China and have a great influence on China's gold and jewelry industry. Zheng Yutong's business does not stop there, he also has infrastructure, electricity, water, insurance, etc.
Like Li Ka-shing, his assets are also greatly undervalued.The Chow Tai Fook brand was founded by Zheng Yutong's father-in-law Zhou Zhiyuan. Later, his father-in-law handed over the business to him, and with his efforts, it successfully flourished.
After Zheng Yutong passed away, Evergrande also began to lose control. In 2017, Evergrande raised 130 billion yuan in financing, betting that Evergrande would return to A-share listing in 2020. If the listing fails, it must repurchase the shares and pay corresponding interest.
In the same year, Xu Jiayin began to take desperate risks and even wanted to acquire Jia Yueting's FF. Xu Jiayin will come together with Jia Yueting, which is actually a risky move. And why he did this is because it is difficult for Evergrande to look back.
In 2018, Xu Jiayin directed a glorious journey back to his hometown, which was also his last highlight moment. Since the beginning of 2020, Evergrande has been facing constant negative consequences. First, the 130 billion gambling crisis broke out, and then various financial problems began to appear. Finally, in 2021, it completely exploded.
