History of Lixin Group

Lixin Garment was established before the war, when it was just a small garment factory./kloc-0 was taken over by Lin Baixin in 950. Lin Baixin, a native of Chaoyang, Guangdong, was born in 19 14. In his early years, he worked in a bank in Shantou, 1945 moved to Hong Kong, and worked in clothing sales in his early years. Later, Chengfu Weaving Factory was opened in Yuanzhou Street, Sham Shui Po Society, and 1950 took over Lixin Garment Factory. Lixin Garment has only two shops in Shekelong Street, Sham Shui Po. It mainly produces shirts and sells them to Southeast Asian countries. In 1950s, Lixin clothing actively explored new markets. At that time, Lixin received an order for 700 dozen shirts in East Africa, requiring delivery within the specified time. At that time, only one ship sailed from Japan to Africa via Hong Kong every month, and the stay in Hong Kong was only three or four days. Lixin ordered rayon fabric from Japan in order to finish the work and pay the loan in time. Lin Baixin recalled: "After the ship arrived, we went to the dock to receive the goods, and we had to put down our shirts before the ship left Hong Kong and flew directly to Africa. If we can't ship them to East Africa by the same ship, the letter of credit will inevitably expire. As a result, the whole factory started cutting all night, sewing outside the next morning, and then went back to the factory to get the goods, nail buttons and pack them. All processes were completed within three days, and the goods were delivered to the ship in time, breaking all records. " Lin also said: "At that time, Qi Xin was all up and down, which was impossible for talented people. If it is today's sub-assembly line production mode, it will not work at all. " Lin Baixin's words vividly reflected the diligence and efficiency of Hong Kong manufacturers in those years. As a result, Lin Baixin successfully opened the African market and was awarded the title of "King of Africa" by his peers.

From 65438 to 0959, Lixin was registered as a limited company in Hong Kong, and its products successfully entered the British and American markets. From 65438 to 0964, Lixin Garment moved into its own three-storey factory building on Qingshan Road, and its business grew bigger and bigger. At that time, in order to buy woolen cloth, wick flannel and other fabrics from Taiwan Province Province, Lixin acquired most of the shares of Minhe Cotton Mill, a listed company in Taiwan Province Province, which had 20,000 spindles and was quite large. By the end of 1960s, Lixin's clothing products were exported to Britain, the United States, Germany and Canada, becoming one of the major clothing manufacturers in Hong Kong.

1972, Lin Baixin took advantage of the climax of the listing of Hong Kong stocks to list Lixin garments in Hong Kong, and used the funds raised from the listing to update equipment, purchase advanced garment machinery and expand factories. At that time, Lixin garment has become one of the largest textile quota holders in Hong Kong. In the 1970s, Lin Baixin saw the potential of investing in real estate on the basis of many years' experience in setting up factories, so he used the company's surplus funds to buy land to build factories and collect rent. 1980, the plant area invested by Lixin has exceeded100000 square feet, and the annual rental income is HK$ 7,000. Real estate income has gradually become an important source of income for Lixin. 1983, Hong Kong real estate was at a low point. At that time, most developers were either tired of the previous real estate frenzy or took a wait-and-see attitude towards the future of Hong Kong. But Lixin invested all the money earned from clothing and quotas in real estate. At first, it mainly absorbed valuable residential land from Kowloon Tong to Waterloo Road. 1985 when the real estate picked up, Lixin's strength was different.

From 65438 to 0987, Lin Baixin made great efforts with the help of his second son, Lin Jianyue, who returned from studying in the United States. In September of the same year, Lin bought a 60% stake in the crocodile shirt of the listed company from his family for HK$ 792 million through Lixin Garment. Crocodile shirt has long been a household name in Hong Kong, and its history can be traced back to the early 20th century. 19 10, a german company registered the trademark "crocodile shirt" in hong kong and engaged in export business. This enterprise was passed on to the Chen family in the early 1950s. Crocodile shirt 196 1 registered as a limited company, 197 1 listed in Hong Kong. By the mid-1980s, it had developed into a clothing group that paid equal attention to both export and local sales, with more than 30 crocodile shirt retail stores in Hong Kong and Kowloon, and the crocodile shirt building in Central as the group headquarters.

1987, the Jun Chen family planned to immigrate to Canada due to lack of confidence in the future of Hong Kong, so they sold the control of the crocodile shirt, but still held 10% equity.

After Lixin acquired the crocodile shirt, on June 5438+00 of the same year, the group structure was reorganized and Lixin Clothing International Co., Ltd. was established. Xiang Li Xinyi, as the holding company of the Group, acquired all the clothing business including crocodile shirts and listed in Hong Kong on February 10 of the same year. Lixin Garment was renamed Lixin Development Co., Ltd., specializing in real estate development. After the spin-off, Lixin developed more aggressively in real estate development, and successively built Causeway Bay Plaza, Cheung Sha Wan Commercial Plaza and Lixin Plaza, becoming a medium-sized real estate group in the Hong Kong stock market. During the period of 1988, Lixin Development and the Lin family resumed the acquisition, and successively acquired more than 60% equity of the international hotel business in North America and more than 40% equity of ATV. At this time, the Lin family controlled four listed companies through Lixin International, ranking among the Chinese-funded consortia in Hong Kong.