At the age of 2 1, Xie Ruilin was appreciated by a boss and lent him 3000 yuan, so he started his "golden journey". "At that time, I had no money to hire a master. I only brought one apprentice. He and I work hard for 65,438+06 hours a day in a room with less than 65,438+000 square feet. " After years of hard work and thrift, as well as continuous innovation in product design, the business began to flourish. 197 1 year, Xie Ruilin dajinfang was officially registered after 12 years, and named after itself, thus Xie Ruilin jewelry co., ltd was established. From 65438 to 0987, Xie Ruilin Jewelry was listed on the stock exchange. The source of funds is more abundant. The scale of the company reached11year, and its products were distributed to China, the United States, Singapore and Thailand.
"Time waits for no man"
When the scale of the company is gradually on the right track and the business scope is constantly expanding, Xie Ruilin is bent on stepping out of the jewelry industry and entering the lucrative real estate industry. In 198 1 and 1982, Xie Ruilin bought shops and real estate with the money he earned from his jewelry business. However, at this time, Hong Kong was hit by a storm of confidence triggered by the Sino-British negotiations, and property prices plummeted, leaving Xie Ruilin in vain.
After licking blood, he rejoined his old jewelry business. After hard work, Xie Ruilin Jewelry was officially listed 1987. When reviewing the failed experience, Xie himself did not admit that it was because he lacked investment vision, but because "time waits for no man"
His stubborn personality helped him through the difficulties safely, but it also made it difficult for him to avoid repeating the same mistakes. 1987 company went public soon, and the ambition he suppressed for several years made him a little eager for quick success. 1990 successfully took control of yuxing real estate company as the flagship of the group's investment in real estate. He bought many properties at once, which made the debt ratio of the group as high as 140%, and the interest expense alone reached 70 million yuan. Under the heavy debt, Xie Ruilin had to find ways to reduce the debt, so in June of the same year, he sold the equity of Yuxing, together with Wan Chai land, to Yang Shoucheng, the chairman of Emperor Group, for 200 million yuan. Unexpectedly, the negotiations between the British Hong Kong Government and the Mainland on the new airport became clearer, and a memorandum of understanding on the new airport was signed in mid-July of that year. So, Yang Shoucheng built the King Group Center on that land, with a total value of about 2 billion yuan, while Xie Ruilin could only watch this "fat roast chicken" fall into other people's mouths. On June 5438+05, 2009, the highlight of the Hong Kong stock market was the resumption of trading in Xie Ruilin. After three and a half years of suspension, Xie Ruilin rose sharply after the resumption of trading, hitting HK$ 3.26. In the afternoon, it plunged with the Hang Seng Index and closed at HK$ 2.98, 2.68 times higher than before the suspension, with a turnover of over HK$ 6,543.8 billion.
Xie Ruilin is no stranger to everyone. This is a Hong Kong jewelry store that opened the mainland market earlier. It was quite successful in the mainland before, and its corporate image was good.
But all this was almost destroyed three years ago. At that time, Xie Ruilin, his son and nearly ten executives of the company were arrested by the Hong Kong Independent Commission Against Corruption on suspicion of providing illegal kickbacks to travel agencies, and were subsequently sentenced to fixed-term imprisonment by the Hong Kong court. This incident once shocked the mainland industry, because it is almost a "hidden rule" for the industry to provide kickbacks to travel agencies.
For a listed company, this is a disaster. Generally, it can be reasonably inferred that after the creditors came to the door, the company's reputation was wiped out, sales plummeted, domestic and foreign troubles occurred, the company was liquidated or sold, and shareholders' wealth evaporated overnight.
But a miracle happened. During the long-term suspension of trading, the company's performance rose steadily, and the net profit in fiscal year 2007-2009 (as of the end of February) was HK$ 55.6 million, HK$ 99.2 million and HK$ 6.5438+0.048 million respectively. According to Monday's share price, Xie Ruilin's P/E ratio is the same as that of two other jewelers, Zhou Shengsheng (quotes, information and comments) and Luk Fook Group (quotes, information and comments).
After three years of resurrection, Xie Ruilin did not rely on luck, but on his true performance. On the one hand, the rapid development of the mainland economy has brought tangible benefits to Xie Ruilin; On the other hand, it also shows that this company is a mature company in a mature market. It is precisely because of its good corporate governance system that the company will not be destroyed because of the destruction of soul figures, but will operate according to its own operating rules.
In fact, after Xie Ruilin and his son were jailed, Xie Qiu Anyi went to war for her husband. At the age of 37, she appeared as the chairman of Xie Ruilin Group. She didn't have much professional experience before. If she is not a business genius, I believe her success benefits from the perfect company operation system.
In fact, this is the second time that Xie Ruilin gave up his life. In 2000, Xie Ruilin was declared bankrupt by the Hong Kong High Court because he borrowed money blindly to invest in real estate. After the bankruptcy, Xie Ruilin did not "give up on herself", but returned to the old business, took advantage of the economic development in the Mainland, opened more stores in the Mainland, and made a lot of profits, thus paying off all debts.
"Letter", and then stand. On the eve of the resumption of trading, the company promised investors that the new management team redesigned the internal control system, especially exempting cash transactions with travel agencies and tour guides and paying by cheque or autopay. In addition, sign a written contract with travel agencies that have business dealings, so that all commission payments are supported by documents and recorded by computers.
The stock price soared three times, no less than the price-earnings ratio of peers. For such a company, the market can neither discriminate against it nor underestimate it, which is the performance of a mature market.