Pan Sutong, the billionaire behind Li Hejun, asked for ＂a dish of 10,000 yuan＂ at the hotel.
Almost at the same time that Li Hejun’s net worth plummeted, another super-rich man lost more than 100 billion yuan at the peak due to the stock prices of his two companies plummeting on the 21st.
As of the close of 21st, Gaoyin Real Estate (00283.HK) dropped 41% to HK$ 14.36, and Gaoyin Finance (00530.HK) dropped 43.34% to HK$ 17.48. The market value of Gaoyin Finance was HK$ 214.1 billion on the 20th, but it quickly shrank to HK$ 122 billion on the 21st, and evaporated HK$ 92.1 billion in one day. The market value of Gaoyin Real Estate on the 20th was HK$ 86.8 billion, but only HK$ 51.2 billion remained on the 21st, a decrease of HK$ 35.6 billion.
According to the information of HKEx, as the head of the two companies and the largest controlling shareholder, Pan Sutong, Chairman of Gaoyin Group, owns 64.41% of the shares of Gaoyin Real Estate and 70.33% of Gaoyin Finance. In other words, justOne day,Pan Sutong’s personal assets have shrunk by HK$ 87.7 billion.
Gaoyin plunged just one day later than Li Hejun’s Hanergy Film (00566.HK), and Gaoyin almost followed the same path of soaring market value as Hanergy.Since March this year,Gaoyin real estateIt rose from HK$ 4.08 to the highest level of HK$ 29.5 on the 20th. According to this calculation, it rose by 6.23 times in one and a half months. The Changyang market of Gaoyin Finance rose from HK$ 7.5 to HK$ 35.4 in January this year, which was 3.7 times higher in less than four months.
In fact, Gaoyin Finance under the name of Gaoyin Department happens to be the financial advisor of Hanergy Film, while Pan Sutong and Li Hejun are both Cantonese businessmen.. Unlike Li Hejun, before the collapse of Gaoyin, Pan Sutong’s public awareness was even lower. However, it can be found that on the eve of the plunge, only according to the market value of two listed companies,Pan Sutong’sPersonal worth exceeds HK$ 200 billion, not much less than Li Hejun, which has been hyped as the richest man in Asia.
On May 22nd, when Pan Sutong responded to a question from Bloomberg about the stock price crash, he said that he didn’t care about the stock price, but only cared about the company’s performance."A really rich man doesn’t count how much money he has every day, so it’s better to take my name off the rich list."
In April this year, Gaoyin Real Estate announced that the major shareholder planned to privatize the company. On May 21st, Gaoyin Real Estate announced that Pan Sutong was still considering privatization. The so-called privatization, simply understood, means that the major shareholder thinks that the share price in the secondary market is too cheap, and simply pays to buy back the tradable shares, and then withdraws from the market, so that the listed company can become its own private company from a public company.
The United States did not graduate from high school and returned to China to start a company.
Pan Sutong, born in Shaoguan, Guangdong Province in 1963, is a Hong Kong businessman, the founder of Songri Group, and now the chairman of Hong Kong Gaoyin Group. According to the South China Morning Post, Pan Sutong lived with his grandmother from childhood until she died of cancer when he was 13. In 1976, he was sent to California and raised by his stepgrandmother.
When studying in the United States, Pan Sutong didn’t get good grades. He often skipped classes, never graduated from high school, and didn’t learn much English. After returning to China in 1984, Pan Sutong became a driver, driving for an official of Shaoguan Organization Department.
At that time, many Cantonese people got rich by reprocessing, such as assembling cars in Nanhai and assembling electrical appliances in Shunde, and Pan Sutong also chose the same path. He imported a large number of parts from abroad and assembled them in China. To be precise, he used family workshops to process them, and then he sold them in an international brand. This uncomplicated way can quickly collect funds to help him complete the primitive accumulation of capital. In 1993, he used a loan provided by his family to set up Songri Group in Hong Kong, specializing in selling Japanese-made electronic products.
There is a jokesay,After Pan Sutong became a nouveau riche, one day he invited two friends to the White Swan Hotel for dinner. In those days, this hotel was the kind of noble place where you couldn’t help telling many people once. When Pan Sutong was ordering, he said to the waiter, "Make me a dish for 10 thousand yuan."
At that time, rich Cantonese people liked to do two things, one was to buy a house in Hong Kong, and the other was to obtain foreign citizenship. Soon after, Pan Sutong bought an office building in Hongkong and became an American citizen several years later.
In 2002, Pan Sutong entered the Hong Kong stock market for the first time, acquired Emperor Science and Technology Information Co., Ltd. and renamed it Songri Communication Holdings Co., Ltd. At the end of 2008, Pan Sutong acquired Guangyi International, another Hong Kong listed company, and changed its name to "Gaoyin Finance (Group) Co., Ltd.".
Companies with only one project have a market value of 80 billion.
Almost acquired in Pan SutongGuangyi internationalAt the same time-November 2008, Songri Communication Holdings Co., Ltd. was renamed as "Gaoyin Real Estate Holdings Co., Ltd.", and its business included property development and investment, hotel management and polo club management. Real estate development has become one of its main businesses.
After dabbling in real estate, Pan Sutong directly dabbled in top real estate projects, and the first project landed in Tianjin. In February, 2007, Songri Holdings signed a land acquisition agreement with Tianjin Haitai Holding Group, and acquired two pieces of land located in Qingxi Qinghai, the central area outside the second ring road of Haitai Inner Ring Road, which is the location of the "Gaoyin Tianxia" project.
Rendering of Gaoyin Tianxia Project
According to the data, the total floor area of the project is 1.89 million square meters, in which the business center will include a landmark skyscraper Gaoyin Finance 117 Building, International Business Center (CBD), Fuguo Gaoyin Residential Project, International Polo Club and other living facilities. According to Gaoyin Real Estate, the total investment of the project is estimated to reach 10 billion US dollars, which is expected to be completed before 2016.
According to the interim report of Gaoyin Real Estate in 2014, as of September 30, 2014, Pan Sutong personally held 64.41% of the company, with a net profit of about HK$ 524 million, a turnover of HK$ 489 million, current assets of about HK$ 10.37 million, liabilities of about HK$ 6.15 million, net current assets of about HK$ 4.23 million and a debt ratio of 21.4%.
From the financial figures alone, it is difficult for Gaoyin Real Estate to complete the investment of $10 billion in this project. According to the company’s annual report, the investment funds of Gaoyin Tianxia mainly come from Gaoyin Real Estate’s own funds and capital market financing, but rarely borrow from banks. With the stock price plummeting by 40% today, the market value of Gaoyin Real Estate is still as high as HK$ 51.23 billion.
The investment in football is over 100 million yuan, and polo and red wine have become new favorites.
Pan Sutong started to invest in football in 1995 and founded Guangzhou Songri Football Club. During the six years, the team was demoted several times, and was dissolved after being relegated to the second division in 2000. In the past six years, it has cost over 100 million yuan.
After football, Pan Sutong turned to polo again. In the Gaoyin Tianxia project in Tianjin, the Global Polo Club is an important planning part of the project, covering an area of 890,000 square meters, with an international polo club, a luxury hotel with 167 rooms and two international standard polo courts. Cooperate with 11 reciprocal clubs around the world, such as Britain, France, Italy and the United States. Moreover, Fuguo Gaoyin is said to be the only event in China with international polo club membership.
Horses are Pan Sutong’s favorite. Tianjin Huanya International Polo Club opened in November 2010 and is the largest polo club in China. In 2011, the Hong Kong Polo Development and Promotion Association was established, with Pan Sutong as the chairman of the association; In December 2012, Pan Sutong was elected as the vice president of the International Polo Federation.
Tianjin Huanya International Polo Club Hotel
In 2011, Pan Sutong participated in horse racing in Hong Kong, and bought many horses at high prices, including smooth luck, great fortune and everything being king. According to the report, everything is worth 20 million Hong Kong dollars.
Pan Sutong not only spent a lot of money to buy horses, but also bought pastures to breed and train horses.
On September 12th, 2013, Goldin Australia Pty Ltd, a subsidiary of Pan Sutong Goldin Financial Real Estate Holdings Limited, announced that it had completed the acquisition of Lindsay Park Stud, which covers an area of 1,257.5 acres in South Australia, as a base for breeding and training top thoroughbred racing horses.
Pan Sutong participates in polo match.
Like many newly rich people, Pan Sutong has invested heavily in red wine.
In May 2011, Pan Sutong flew to Napa Valley, California by private jet, and bought one of the most popular wineries in the region, Si Long Winery and Vineyard, for US$ 50 million. At the same time, he also bought three famous wine brands, Sloan, SLOAN ESTATE and ASTERISK. After the transaction was completed, Pan Sutong handed over the winery to his daughter Jenny, who was said to have worked as a trader at Goldman Sachs.
In 2013, Pan Sutong spent about HK$ 146 million to purchase three Bordeaux wineries in Bordeaux, covering a total area of about 37 mu, including the famous Chateau Le Bon Pasteur.
Chateau Le Bon Pasteur