Enterprise Storm in Chen Qizong

Like many Hong Kong enterprises, Hang Lung Group is an out-and-out family business. 1960, Henglong Real Estate was established. Against the background of the large-scale subway construction by the British Hong Kong government in the 1970s, Hang Lung quickly became the most experienced "subway superstructure" developer in Hong Kong, and reached its peak around 198 1 with the then Hong Kong property market. 1982, Hang Lung and New World won the property development right of the "subway superstructure" in the second section of Admiralty. It was this project that once made Hang Lung's scenery in Hong Kong infinite, and also pushed Chen Zengxi (the father of Chen Qizong), then chairman of Hang Lung Group, to the focus of public opinion.

No one expected that 1982 was also the eve of the bursting of Hong Kong's real estate bubble, but Hong Kong people at that time, including Chen Henglong, hardly noticed it. According to the data, from 1959 to12 1 year, the land price of various properties in Hong Kong increased by 74 times, reaching 28 1 time, and the house price in Hong Kong increased by 26 times in the same period. In other words, the price increase of real estate is much higher than the average price increase of cities, and the value of real estate is seriously overestimated.

Under all kinds of unexpected factors, Hang Lung faces compensation of HK$ 65.438+0.8 billion for the land price of Xiangshan Building in the second section of Admiralty. However, the bank has already tightened the monetary policy, and the funds of Hang Lung began to be tight, and finally withdrew from the development of the "subway roof" in the second section of Admiralty. 1986, Chen Zengxi died, and Chen Qizong's uncle Chen Zengtao was in charge of Hang Lung. It was not until 199 1 that Chen Qizong stepped onto the stage of Hang Lung. Chen Qizong rarely commented on Hang Lung Group 199 1 0 years ago. If he asks more questions, he will think, "Under the slightly conservative style of his elders, Henglong has been sleeping for more than ten years."

Under the guidance of Chen Qizong, Henglong never sleeps. The financial crisis of investing in the mainland and Asia 1997 has made Chen Qizong's "Hang Lung Miracle". For more than 20 years, Hang Lung has slipped from the second-ranked Hong Kong real estate developer to the ninth and tenth place, and now it is back to the second and third place. Chen Qizong has truly witnessed the real estate situation such as waves and sand.

"I mentioned many dinners in 1982, including me and Zheng Jiachun (chairman of New World Group) and two other real estate developers. They are also prominent people in Hong Kong, and their land reserves are no less than those of Sun Hung Kai, but now both enterprises have closed down. " Chen Qizong has always stressed that real estate is a high-risk industry, and wealth comes and goes quickly, sometimes just like passing clouds.