Asia Standard Lu Zhiqiang Department: Gangster Gangster behind the building Empire Financial Holding
HTTP: // www.sohu.com/a/117156153_525547 Lenovo's largest private shareholder.
Lo Chi-keung, known as Gangster Gangster behind. Vice Chairman of the China Minsheng Bank, Asia Standard Group Limited and China Oceanwide Holdings Group Co., Ltd. Chairman and CEO, Asia Standard Construction Group Co., Ltd., China Asia Standard International Investment Limited and Legend Holdings Ltd. Director and Vice president of Chinese folk Chamber of Commerce, vice chairman of China Guangcai Foundation. Tenth CPPCC National Committee, 11th and 12th CPPCC Standing Committee of the Tenth National Federation Vice President.
Born in Weihai, Shandong Lu Zhiqiang of December 1951, the early years has been working in Weifang state-owned enterprises and the government. November 1971 to March 1980, he served as the predecessor of Weichai Power, Shandong Weifang Diesel Engine Factory Technician; March 1980 to June 1985, he served as deputy director of the Office of Weifang City technology development center.
In 1985, 34-year-old Lu Zhiqiang sea into the education and training industry. "It was a sea of cadres promoted mainly because it was not able to put on when, thinking some ideas, Shandong and have a good face, so the sea was determined to engage in business."
In 1985, 34-year-old Lu Zhiqiang sea began to enter the education and training industry, Chairman and President of Shandong Tongda economic and technological group of companies.
In 1988, Lu Zhiqiang with a registered capital of 730 million yuan of registered China Oceanwide Holdings Limited in Beijing, it became the flagship of the future development of Lu Zhiqiang.
In 1990, Lu Zhiqiang establishment of the United States Asia Standard International Co., Ltd., in 1992 by the United States Asia Standard International Co., Ltd. accounted for 30 percent stake, Oceanwide Construction Co., Ltd. accounted for 70 percent of the equity, joint venture Oceanwide Development Limited.
1992 entered Fudan School of Economics, after obtaining a master's degree. Now 80 years old, studying at Fudan University for nearly 60 years, a senior professor Hongyuan Peng was his teacher. Hongyuan Peng recalls, Lu Zhiqiang learning very seriously, even though he has founded the company, but never absent from school for any reason, even in order to ensure the quality of the paper and repeatedly modified. After graduating from Fudan University, Lu Zhiqiang still continue to follow the Hong Yuanpeng academic research, publications, published several books and papers.
In 1994, Lu Zhiqiang Jia Rulu Taiwan will. Shandong-Taiwan Economic and Trade Fair is the Shandong Provincial Party Committee, the province of Taiwan, foreign investment activity by the provincial government, is one of the three economic and trade activities in Shandong Province. Lu station will be 10 local Chinese private entrepreneurs decided to stand up a joint initiative of: "Let us join the glorious cause of poverty in the past" was supported by the country's highest leadership of the glorious career about to launch.
In July 1995, Asia Standard Group in Shandong, Shandong Asia Standard Construction Investment Co., Lenovo Group holding company, Stone Group and other domestic nine well-known companies, incorporated "Guangcai Investment Management Co., Ltd." in Beijing. At that time Shandong Asia Standard Group Company invested 35,600 yuan, the total share capital of 71.2%, Shandong Oceanwide Construction Investment Co., Ltd. invested 10,000 yuan, the total share capital of 20%, while China Guangcai invested $ 15 million of the total 3% of the share capital, in addition to Lenovo, Stone and other eight shareholders invested a total of 5.8%.
October 25, 1995, China Guangcai as a judicial person registered in the Ministry of Civil Affairs, president of the Center for the United Front Work Department Minister Wang Zhaoguo, legal representative of the Secretary-General concurrently by the Deputy Minister of the CPC Central Committee United Front Deping.
In the aura of the Glorious Cause, the beginning of the rapid development of Guangcai Investment in real estate, finance and high-tech fields, dozens of "extensive sea-based" company set up throughout the country.
Glorious Cause let Lu Zhiqiang first boarded the pinnacle of life, not just let this lucrative career, and was elected CPPCC members, the National Federation of the Standing Committee, and even the United Nations should "Glorious Cause" in the worldwide promotion . By this time, Lu Zhiqiang of the "glorious line" experienced an unprecedented embarrassment, then the light will promote Lu Zhiqiang obviously do not want to confuse brilliance with the Department, expressed without their authorization, any use of the Guangcai Program are considered illegal business practices. When the rectification of the glorious building of CSRC, the light will promote more repeatedly said, it has nothing to do with the construction of brilliance.
In 1998, Guangcai Investment Management Co., Ltd. to increase their investment registered capital increased to 500 million yuan and net assets of one billion yuan, changed its name to "Guangcai Investment Group Limited." Meanwhile, shares of China Guangcai Investment Group, Asia Standard Holdings Limited, invested 325 million yuan, the total share capital of 32.5% stake in Shandong Asia Standard Group fell 67.5%. The end of 1998, through a share exchange, replace Guangcai Investment Group Shenzhen South Oil Group, a listed company South oil property the largest shareholder, to achieve reverse merger, and in July 1999 changed its name to "glorious building." Only strong Zhuanggu famous, has created collected from three yuan in 1997 soared to 23 yuan miracle.
In July 1999, Guangcai Investment Group, renamed "glorious building", the stock short changed "glory building", the registered capital of 204,887,825 yuan .00. In April 2002, the company changed its name to glory Construction Group Co., Ltd., the stock short changed. In 2005, the company changed its name to "Asia Standard Construction Group Co., Ltd.", the stock short changed to "Asia Standard construction."
Tarzan will
In 1995, Lu Zhiqiang Tarzan will join this mutual aid organization of more than a dozen well-known Chinese private entrepreneurs, met Liu and other Lord of big brother. As early as the first meeting of 1993 on Tarzan, members considered to be the founder of private enterprises own bank, to solve the shortage of business development funds. In 1996 he initiated the establishment of China Oceanwide involved in the first private joint-stock commercial banks - China Minsheng Bank, in 2000, in the name of Lu Zhiqiang China Oceanwide Holdings Limited, 13,000 shares of Minsheng Bank shares, accounting for 9.42% of total share capital, become the second largest shareholder of Minsheng Bank. 2002, participate initiated the establishment of China's first private joint-stock life insurance companies - Minsheng Life Insurance Company Limited. Previously, the Yellow securities registered capital of 100 million yuan rose to 1.45 billion yuan, while China Oceanwide Holdings once again become the protagonist.
With a strong financial capital for support, Lu Zhiqiang property system strong start to take off. His center in Beijing, Wuhan, Shenzhen, Qingdao, Jinan, Shanghai were planted heavily. In Beijing, plus Yaojiayuan project, the Department of Asia Standard Lu Zhiqiang amount of development in the land will more than 2.4 million square meters. Guangcai Construction Group invested by 1.2 billion yuan to develop international glory apartment, with a total area of about 160,000 square meters, as at that time the highest price of the capital of one of the apartment. According to reports, Wuhan CBD project development company Wuhan Wangjiadun Central Business District Construction Investment Co., Ltd., by the "glorious building" invested 80 million yuan and China Oceanwide Holdings Ltd., Beijing Zhongguancun Development and Construction Co. Ltd., Beijing Stone in 2001 New Century Real estate development company established. Wangjiadun Central Business District, covers an area of 2.67 square kilometers, planning construction area of up to 600 to 800 million square meters, Lu Zhiqiang to bring considerable returns. In Shanghai, Guangcai Investment Group, through its holding of Shanghai sea Construction Co., Ltd., in August 2008, with the Huangpu District government signed a contract purchased Dongjiadu an area of 12.63 hectares of land, planning construction area of 600,000 square meters. In Shenzhen, in addition to glorious home has been built 10 million square meters, but still looking for new plots. In Qingdao, Jinan, Lu Zhiqiang the development area were more than 200,000 square meters and 100,000 square meters.
Although Lu Zhiqiang financial industry use pledge, guarantee equity stake completed several rounds of financing, but the real estate company funds remained hungry. In April 2006, Asia Standard Construction announced the acquisition of its subsidiary Beijing east Asia Standard Properties Limited 65% stake in the largest shareholder of Asia Standard Group; thereafter, Asia Standard Asia Standard Construction Group, the ED 400 million private placement of shares, after the implementation of Asia Standard construction obtained a total of 743,800 square meters of prime land reserve. The company completed the split share reform, while completing the first major asset restructuring.
In March 2007, Asia Standard building issued a proclamation declaring that it will raise funds of about 8 billion yuan through non-public offering for the acquisition of 100% stake in the largest shareholder of Asia Standard Group Spark, 100% stake in the sea, Zhejiang 100% equity, 60% stake in Wuhan. After the acquisition, Asia Standard construction of additional floor area of more than 8 million square meters. The company successfully implemented the second major asset restructuring, to achieve the overall listing of the controlling shareholder of the real estate business.
In 2007, Lu Zhiqiang of the "Asia Standard system" has become Minsheng Bank, Haitong Securities, livelihood insurance, livelihood security, livelihood largest shareholder pawn, comprehensive built up a financial empire. In the past, "China's capital market control list", Lu Zhiqiang to control the total market capitalization of 260.9 billion yuan to become the "market first person."
Lenovo shares
August 7, 2009, Chinese Academy of State-owned Assets Management Co., Ltd. announced that it will hold 29% stake in Legend Holdings listed on the transfer. Equity transfer conditions set: Requires the transferee paid-up registered capital of not less than 4 billion yuan, with total assets in 2008 of not less than 35 billion yuan, net assets of not less than 100 billion yuan, nearly three-year average net profit to be more than 800 million yuan, the main business scope should include financial, energy and real estate in three areas, direct investment in these three areas can not be less than 20 billion yuan, and at least in one area must have a listed holding company.
September 4, 2009, Beijing Equity Exchange announcement Fanhai technology will take over the price of 2.755 billion yuan, Chinese Academy of State-owned Assets Management Co., Ltd. transferred 29% stake in Legend Holdings. "In the acquaintance and mutual trust, love at first sight." State-owned shares or 36% of the largest shareholder, but 35% think of the union is the second largest shareholder, is the third largest shareholder of Asia Standard Lu Zhiqiang.
China Oceanwide is the use of financial leverage, Liu and the other four individuals received a 9.5% stake in Legend Holdings, completed a further stake in the transformation of Legend Holdings.
According to public disclosure of Legend Holdings, Lenovo Holdings was involved in IT, investment, real estate the three industries under the Lenovo Group (HK 0992), Digital China (HK 0861) two of billions of market capitalization of listed companies in Hong Kong and Legend Capital, Hony two investment company in 2010 and plans to formally landing a shares of real estate company Raycom. Legend Holdings also announced the same day the new board members after the ownership structure adjustment, that is, from Liu, Deng Mai village, Lu Zhiqiang, who Maochao, Zhu Linan five members, as the new chairman Liu Chuanzhi.
In addition to helping Liu addition, Lu Zhiqiang Wang Jianlin also helped. Wang Jianlin, Wanda business listed in Hong Kong, he especially thanked in his speech the middle of two people, is a former president of China Merchants Bank Ma Weihua, the other is his old friends Lu Zhiqiang. Since the middle of the process of transformation go hand in hand Wanda Lu Zhiqiang, Wang Jianlin has given great help in doing the share reform when Wanda Lu Zhiqiang also invested a lot of money Wanda Group to become the largest shareholder, a lot of cooperation projects.
Lu Zhiqiang want to follow Citigroup Asia Standard playing a collection of commercial banking, investment banking, insurance, mutual funds, securities trading and other financial services in one financial group, so he wanted to win control of the people's livelihood Life. Yet another gangster Guanqiu also has a strong interest in the insurance funds, and therefore launched a contest for eight years between Lulu. Lu guanqiu finally got the support of Haixin Iron and Steel Group, Li Zhaohui, defeated Lu Zhiqiang, chose completely out of people's livelihood Life in 2010.
December 27, 2013, Asia Standard construction announcement said the company, a wholly owned subsidiary of Asia Standard Hong Kong company owned sea company intends to FIG CENTRAL FEE OWNER LLC signed a "purchase and sale agreement jointly hosted instructions" not to exceed $ 200 million acquisition Los Angeles Fig central (Figo Roa Center) project. This is the first time Fanhai Lazi United States.
April 29, 2014, the original "Asia Standard construction," the official announcement was renamed "Asia Standard Holdings." March 27 evening before the name change, the acquisition of Asia Standard construction has issued a series of announcements, including the acquisition of livelihood equity securities and increase in public investment. After the acquisition, Asia Standard building holds a 72.999% stake in Minsheng Securities, becoming the company's controlling shareholder.
May 2014, Asia Standard Holdings capital increase China Oceanwide's livelihood trust one billion yuan, Minsheng Trust indirectly holds a 25% stake; August, spend 3 billion yuan Asia Standard Holdings won the Hong Kong listed companies and 71% stake in Hutchison Harbor Ring , successfully open up overseas capital markets; in April 2015, Asia Standard Holdings intends to raise its own funds $ 4.1 billion investment in the establishment of "China gold", Asia Standard guarantee fund Asia Standard Asia Standard asset management, the layout of the Internet financial, while the people's livelihood Futures capital increase to 10 billion yuan, layout futures license.
January 2015, Asia Standard Holdings acquired a 51% controlling stake in Ming An Insurance, property insurance business successfully obtained licenses; in April, intends to raise its own funds $ 4.1 billion investment in the establishment of "China gold", Asia Standard guarantees, Pan sea-fund company, Asia Standard asset management, the layout of the Internet financial, livelihood futures will increase to 10 billion yuan, layout futures license.
Over the same period, Asia Standard to be adopted by a wholly-owned subsidiary of Asia Standard in Hong Kong or overseas, rich financial 1.792 billion shares (issued share capital when the financial Fu representing approximately 44.01%) while HK $ 663 million acquisition of Hong Kong.
The evening of May 13, 2015, Asia Standard Holdings announced that, after consideration of the board of directors, non-independent directors agreed to elect candidates Lu Zhiqiang other 10 people Company 8th directorate. Lu Zhiqiang became chairman of Asia Standard Holdings, has real estate experience of the original executive team will leave the board, and has a bank, trust, insurance, securities executives stationed in the history of Asia Standard Holdings board of directors. Asia Standard Holdings board wants the territory to finance (securities, insurance) mainly to investment-based and property-based system of the three independent from each other and support each other. The former group is the central figure in both bigger and Lu Zhiqiang main reason for the return.
November 3, 2015, Asia Standard Holdings announced that the China Insurance Regulatory Commission has formally approved its wholly owned subsidiary of Wuhan Construction Investment and other central business district, four full company then set Ming An Insurance. After the successful acquisition of Ming An Insurance, coupled with people's livelihood trust securities and trust license in the field of existing livelihood security of Asia Standard Holdings securities, trust, insurance, the "troika" financial landscape was officially formed.
December 11, Asia Standard Holdings has posted several bulletins. Including jointly funded the establishment of the Asia-Pacific Internet Life Insurance Company Limited, entered the Internet life insurance; and its three financial subsidiaries, Ming An Insurance, livelihood security, increase livelihood futures were 4.08 billion yuan, 6.85 billion yuan (two pens capital increase) 4.3 billion. After the capital increase, Asia Standard Holdings stake or its subsidiaries in the above three financial companies reached 51%, 87.166% and 95.87%.
2015 110 anniversary of Fudan, when Lu Zhiqiang 7 billion in donations by Fudan Fanhai Community Foundation, which is by far the single largest in the history of Fudan University from alumni and cumulative donations.
China Oceanwide the first half of 2016 operating income of 12.276 billion yuan, an increase of 186.42%, mainly due to the rapid growth of the real estate and financial sectors. However, lower income growth, the performance of not increasing, China Oceanwide first half loss of 10 million. In the first half of last year, China Oceanwide net profit of 7.662 billion yuan. Legend Holdings listed last year, generating about 84 billion investment income, if not for the Legend Holdings listed on the first half of last year, the same loss. China Oceanwide comb 42 companies affiliated investment (in part to move out of state) can be found, despite a huge asset classes, but their own direct management of the company, earning power is not strong. Strong earning power companies are Minsheng Bank, Haitong Securities of such dispersed ownership, operations manager of a public company.
The acquisition of Genworth
October 24, 2016, Lu Zhiqiang announced its intention to spend about $ 2.7 billion privatization of NYSE-listed US large integrated financial and insurance group GenworthFinancial, Inc.
Genworth Financial Group is the nation's largest long-term care insurance companies, the new single sales in 2015 ranked third in the US market. The company formerly Virginia Life Insurance Company was founded in 1871, 2004, landing the NYSE. Genworth Financial Group has many years of experience in the market long-term care insurance, life insurance and annuity insurance and mortgage insurance and other fields. The company is headquartered in Richmond, Virginia, has branches in Canada, Australia, Mexico, India and other countries. As of the end of June 2016, Genworth Financial Group's total assets of $ 108.2 billion, net worth of $ 17 billion, operating income of $ 4.0 billion.
The US Fortune 500 companies in nearly two years of long-term care business losses, the company's third quarter 2014 loss of $ 844 million, shares plunged 38.45% the last two years, the company continued to sell assets to ensure liquidity. Experiencing liquidity problems, survival became a problem, this time to pay the acquisition costs are lower, but the probability of acquisition of the subject business problems are relatively high. In 2014, the French AXA (AXA) said that to 475 million euros (US $ 520 million) in cash to acquire Genworth LPI to conduct exclusive negotiations. At that time Genworth Financial Group in the sale of its assets.
Genworth Financial Group non-executive chairman James Riepe said the agreement with China Oceanwide was positive and after extensive evaluation after reached. Group Board believes that, for the shareholders, the completion of the comprehensive deal is the best way to maintain the company's development.
It is worth noting that the transaction in addition to the $ 2.7 billion acquisition of the shares as part of the deal, Asia Standard also promised to Genworth Financial Group, at the Closing inject $ 600 million in cash to redeem maturing debt in 2018, and the $ 525 million cash injection of US life insurance business, Genworth financial Group also has pledged to inject $ 175 million in cash US life insurance business.
Oceanwide or a move designed to enhance the likelihood of obtaining regulatory approval, and meet the standards of rating agencies.
The above transaction has been approved by both the Board of Directors, the transaction is expected in mid-2017, but the deal has yet to be approved by shareholders of the target company to obtain the required regulatory approvals as well.
Asia Standard Lu Zhiqiang, chairman of China said in a statement: "With this acquisition and our dollars to inject an additional 1.125 billion, provides important financial support for Genworth Financial Group, Genworth Financial Group will help reduce debt and improve the ratings, promoting comprehensive business and sustainable development. "
If Genworth become a wholly owned subsidiary of Asia Standard, the consolidated financial statements, China Oceanwide's net assets is expected to increase from 25.5 billion yuan more than 100 billion yuan (by 6.7 yuan per dollar calculation), net assets of more than four times the scale. While China Oceanwide total assets will be large-scale expansion, from 219.6 billion yuan, an increase of more than 700 billion yuan, an increase of over three times, reaching nearly a thousand billion. Genworth gearing ratio due to the same relatively high, so the combined balance was 85%.
Competition for people's livelihood
In December 2000, Minsheng Bank listed in the Shanghai Stock Exchange, public information display, Lu Zhiqiang all the shares held by Minsheng Bank pledged in most states. With unlimited Minsheng Bank shares traded, Lu Zhiqiang also frequently taking large amounts of cash.
Public information display, in November 2007, Lu Zhiqiang Minsheng Bank holdings of 143 million shares, reduction of prices between 15.13 yuan / share to 15.99 yuan / share. In terms of 15.13 yuan / share basis, that time China Oceanwide cash of about 2.163 billion yuan.
In December 2007, Asia Standard continue to reduce Minsheng Bank 137.26 million shares, reducing the price of 14.45-15.50 yuan / share range. In terms of 14.45 yuan / share basis, cash of about 019.8 million yuan.
In January 2008, China Oceanwide holdings of Minsheng Bank once again outstanding shares of 145 million shares, cash of about 2.347 billion yuan.
China Oceanwide above three holdings Minsheng Bank shares, total cash of about 4.53 billion yuan.
Between the next few years, Asia Standard by the reduction or set by the frequent changes in the top ten shareholder in Minsheng Bank. Many years, Lu Zhiqiang and out of the Minsheng Bank, and getting a more adequate cash, so that the input to the Asia Standard's other projects.
July 19, 2016, HKEx disclosure information display, Lu Zhiqiang, chairman of Asia Standard Holdings 14 holdings of Minsheng Bank re-A shares, holdings of a total of about 449 million shares at a cost of about 40 million so far, Lu Zhiqiang held a total of A breakthrough Minsheng Bank shares equity ratio from 5 to 5.69 percent. Since July 11, 2016 to 14, Lu Zhiqiang total cost of 7.5 billion holdings of Minsheng Bank shares. Currently oriental later teamed up with China Life, the right to speak at board seats beyond the new hope, after the Ampang insurance, Lu Zhiqiang of Oceanwide Department followed.
Political status
Lu Zhiqiang not only has a very wide circle of contacts in the business community, and is a veritable "red top." He is the eleventh twelfth CPPCC Standing Committee, the National Federation of Industry and Deputy Chairman.
October 16, 2016 morning, the first National Award for tackling poverty awards ceremony held in Beijing. Total, including Asia Standard Group Chairman Lu Zhiqiang, Yili Resources Group Chairman Wang Wenbiao, Chairman of the Board Hengda Group, Xu Jiayin 9 people for their contribution to poverty alleviation was the first "National Award for tackling poverty Contribution Award."
2016 to 2020, Asia Standard plans to donate 50 million yuan each year in Guangxi, Chongqing, Hubei, Guizhou, Shandong, Shaanxi six provinces (autonomous regions and municipalities), grants to support 10,000 poor families filing cards established new university freshman year 5000 yuan per person, a total of five years, donated 1.5 billion yuan to fund 300,000 students. This reflects the Private Enterprise "world of public" on the value of the pursuit, for building a well-off society and realize the Chinese dream continues to contribute.
A Paul Comments: Oceanwide Real estate has long been famous, to get low-cost, but the scale has been modest, and far more compared to the first echelon, efforts to increase financial layout imperative, people's livelihood and Genworth is proof. Future, Lu Zhiqiang Asia Standard will lead to the "finance as the main industry-based, Internet-industry and financing integration platform of international enterprise group," the goal to initiate sprint.