He is as famous as Li Ka-shing and Stanley Ho, but little is known about him. Wang's Taiping Concord Group is involved in petrochemical, banking and real estate, with assets of tens of billions.
Wang Shizhong, the founder and chairman of Sheikh Group, has been pursuing the principle of "less talking and more doing" for many years. At that time, due to lack of funds, Wang Shizhong crossed the sea from Taiwan Province Province to Hongkong for development, and was known as the "cross-sea fairy". In fact, during the development of Concord in the past 20 years, Wang Shizhong has set foot in many fields, among which the most talked about is the classic advertising words of "Tianba Watch" and "Bahai Watch" that the company put out when Chinese mainland started its reform and opening up: "irresistible temptation".
This advertisement has become a teaching material in universities.
The above-mentioned watches have won the championship in the same industry for 12 years in a row, which is also a great experiment for Wang Shizhong to join the business community after graduating from Harvard University. Later, he entered the fields of oil, telecommunications, banking, real estate and biotechnology. In real estate alone, he invested US$ 65.438+0.2 billion (S $65.438+0.848 billion), built a large residential area in Hong Kong in cooperation with Li Ka-shing's Cheung Kong Industrial Group, invested 65.438+in Hong Kong Space Island, and also invested in Bangkok, Thailand.
Wang Shizhong has three listed companies in Hong Kong, among which 1987 listed Taiping Sheikh has the greatest influence, and the other two are Sheikh Construction and Zhonghua Pharmaceutical. Due to the light trading of Hong Kong stocks and the low share price, Wang privatized Xiehe Construction and Taiping Xiehe in May 2006 and June 2003 10 respectively. He also made a brief appearance in the mainland capital market. In March 2002, Taiping Group acquired 50.45% equity of * ST, and Wang became the actual controller of * ST. After Sheikh Taiping moved in, he did not invest any assets in Yun Sheng. In the past four years, all the properties it operated were legacy projects of the company.
According to insiders of Taiping Sheikh, Wang Shizhong's acquisition of Yun Sheng Industry is an attempt to inject its domestic real estate projects, especially the Sheikh World Commercial Street on Nanjing Road in Shanghai and Shanghai Kangcheng, into Yun Sheng to create a real estate blue chip. However, this idea was rejected by the regulatory authorities.
In 2003, the second year of Taiping Sheikh's tenure, Yun Sheng began to turn losses into profits. After entering 2005, the property market suddenly cooled down and the depressed capital market even hit a new low. After the introduction of the share-trading reform, it is difficult for listed companies to raise funds. Under such circumstances, Sheikh Taiping can only find another way out.
In May 2005, Wang decided to give up. By February 2006 15, the agreement was finally signed, and Wenzhou businessmen took over the offer, and 29.9% of the 50.45% equity was priced at 65438+81800 million yuan (S $35.99 million).
According to insiders, Wang Shizhong is trying to restore the listing status of Taiping Concord and Concord Construction, which was privatized earlier. The source said that domestic real estate projects are expected to become the protagonist of Hong Kong listing.
Four years later, Wang Shizhong delisted from the mainland stock market and returned to Hong Kong. Wang along the way, I don't know how he feels about a four-year cycle.