After studying in primary school for less than two years, I was forced to drop out of school because of my poor family, and then I followed my father to collect waste products for a living.
/kloc-When he was 0/3 years old, his parents sent him to a gold shop as an apprentice, where he worked as a teacher for seven years and suffered a lot. After studying all the hard work, Xie Ruilin started his own business and opened a gold shop. He was only 2 1 year old at that time.
1957, Xie Ruilin bought 50 taels of gold, rented a house, bought some tools to make money, and then opened a small gold shop with 3,000 yuan lent to him by an expert who appreciated him. He officially started his "Golden Journey".
After five years of hard work and plain living, product design is constantly innovating and business is booming.
197 1 year, Xie Ruilin jewelry co., ltd was formally established.
1987, Xie Ruilin Jewelry Co., Ltd. was publicly listed on the Hong Kong Stock Exchange. The source of funds is more abundant. The company has199/kloc-0 employees per year, and its products are distributed to China, the United States, Singapore and Thailand.
198 1 and 1982, Xie Ruilin rashly set foot in real estate and glasses retail business, and bought shops and houses with the money earned from jewelry business.
However, at this time, Hong Kong encountered a confidence storm triggered by the Sino-British negotiations, and property prices fell sharply, and Xie Ruilin lost the battle.
After that, he rejoined his old jewelry business. After hard work, Xie Ruilin Jewelry was officially listed 1987.
1990 successfully took control of yuxing real estate company as the flagship of the group's investment in real estate.
1June, 1997, when the Hong Kong property market was approaching its peak on the eve of the financial crisis, Xie Ruilin spent another 500 million yuan, and Li Xiangxin Group bought the Bao Li Commercial Building in Baoleli, Tsim Sha Tsui. In addition, many stock investments he participated in also failed.
Thus, in recent years 1997/ 1998, the group's liabilities rose to the highest level, reaching13.4 billion yuan, and the debt ratio rose to the highest point since 1992, reaching 100%.
1 June 1998, Xie Ruilin also launched "1100 million yuan diamond dumping", which raised nearly 300 million yuan for the group in more than two months, but it still didn't help.
In the end, because Xie Ruilin owed Suez Asia Holdings more than 50 million yuan in debt, it was filed for bankruptcy by the other party in 2000, and other creditors also joined in debt recovery.
On September 25th, 2000, Xie Ruilin was officially declared bankrupt by the court.
On the eve of bankruptcy in March, 2000, he transferred the controlling right of Xie Ruilin Jewelry, a listed company, to his eldest son, Xie Dafeng, so the company's business could still operate as usual after his bankruptcy.
In September 2004, a debt restructuring arrangement was reached and the bankruptcy order was lifted ahead of schedule.
Loaned 3000 yuan to build a huge jewelry kingdom, failed to invest in real estate, and once went bankrupt.
Xie Ruilin: Making money is everything in life.
Xie Ruilin, who founded the "Xie Ruilin" jewelry kingdom and opened stores in Southeast Asia, Hongkong and mainland China, only attended primary school for two years. He started from scratch by his own efforts and borrowed 3000 yuan. At his peak, he was worth 2 billion.
Xie Ruilin, 68, has experienced ups and downs in his life. After the official bankruptcy in 2000, it also experienced several twists and turns. One minute "coming back to life", the next minute "being detained" news.
A difficult start
Xie Ruilin, 68, was born in Nanhai, Guangdong. His family moved from 65438 to Hong Kong 0945. He has been living in Tiger Rock, the poorest wooden house area. Because of his poor family, he was forced to drop out of primary school in less than two years. After that, he followed his father to collect waste products for a living and became a little "bribe guy". /kloc-When he was 0/3 years old, his parents sent him to a gold shop opened by relatives and friends as an apprentice. After five years as a goldsmith's apprentice, Xie Ruilin felt that it was not enough, so he made up his mind to learn western-style jewelry inlaying again. He studied it for ten years and suffered a lot. Xie Ruilin said that the greatest comfort at that time was to save a little change and then go to Daguangming Theatre.
At the age of 23, 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.
Real estate robbery
Just three things. Xie Ruilin is full of "character decides fate". On the eve of the financial crisis in June, 1997, when the Hong Kong property market was approaching its peak, Xie Ruilin spent another 500 million yuan. Li Xiangxin Group bought the Bao Li Commercial Building in Baoleli, Tsim Sha Tsui, and many stock investments he participated in also failed. Thus, in recent years 1997/ 1998, the group's liabilities rose to the highest level, reaching13.4 billion yuan, and the debt ratio rose to the highest point since 1992, reaching 100%.
In order to alleviate the financial pressure of the Group, the Group has been selling assets to reduce debts since 1998. Many of these properties were transferred at huge losses. In addition to selling assets and reducing debts, Xie Ruilin also launched a "1 100 million diamond sale" in June 1998, which raised nearly 300 million yuan for the group in more than two months, but it still didn't help. In the end, because Xie Ruilin owed Suez Asia Holdings more than 50 million yuan in debt, it was filed for bankruptcy by the other party in 2000, and other creditors also joined in debt recovery. On September 25th, 2000, Xie Ruilin was officially declared bankrupt by the court. At that time, some people described Xie Ruilin's bankruptcy as a major bankruptcy case that attracted the most attention from the industry and made people feel sad at the same time.
Although it was a blind debt investment at that time, many Hong Kong jewelry industry veterans said that Xie Ruilin himself still enjoyed a lofty position in the jewelry industry, and many jewelry raw material suppliers and experts supported him. So far, the industry has never heard of Xie Ruilin's "can't find money" (not paying back the money). Of course, Xie has made arrangements for the company. On the eve of bankruptcy in March, 2000, he transferred the controlling right of Xie Ruilin Jewelry, a listed company, to his eldest son, Xie Dafeng, so the company's business could still operate as usual after his bankruptcy.
After the bankruptcy, Xie Ruilin was once depressed. He once claimed that "bankruptcy is a stain on my career". In the early days of bankruptcy, he often suffered from insomnia, and the whole person lost his luster and was "ashamed".
A useless man got a chance to start over.
However, since 2003, "self-help tour" has brought new opportunities to Hong Kong's jewelry industry. Since the introduction of "self-help tour" in July 2003, more than 2.6 million mainland tourists have visited Hong Kong in one year, providing about 654.38+04.4 billion yuan in tourism revenue for Hong Kong, among which the jewelry industry in Hong Kong has benefited a lot. Xie Ruilin company relies on cooperation with travel agencies, and its business is booming. Last year alone, the turnover reached HK$ 470 million, with gratifying results.
Encouraged by the general situation, Xie Ruilin himself began to actively mediate and negotiate with creditors after bankruptcy. According to expert analysis, even if Xie does not propose debt restructuring, his four-year bankruptcy order will be lifted soon. At that time, if no one applies to extend his bankruptcy period, Xie will not need to continue to repay his debts. However, he believes that "I owe people money and I will pay it back in my lifetime", so choosing to solve the incident by "personal voluntary arrangement" can "completely clear the bankruptcy record". In the past four years, we have been discussing the repayment plan with the creditors, and the two sides finally reached an understanding that Xie only needs to repay 6% of his total debt, that is,13.8 million, and all debts can be written off. In the end, he "washed the bottom" 22 days before the bankruptcy order expired. In addition, Xie repeatedly stressed that the jewelry industry stresses honesty, so even if the bankruptcy order has been officially lifted, he will still actively find ways to pay off all debts.
Xie Ruilin, who regained his freedom, revealed that he had been a jewelry consultant for the company since its bankruptcy, and he still insisted on returning to work.
The shackles of personality
After Xie Ruilin was declared bankrupt by a judge of the Hong Kong High Court, some people commented that although he experienced "three ups and downs" and was tough in the economic circles, "this time he was forced to go bankrupt, and he might lose his mind and disappear from the shopping malls in Hong Kong". I didn't expect Xie to stand. According to an insider, Xie's jewelry business has always been very profitable, not only local, domestic, but also exported. Moreover, more than ten years ago, Xie was one of the earliest jewelers who received tour groups to sell jewelry, which was very successful and established a reputation in the tourism circles in Europe, America, Southeast Asia, China, Japan and Taiwan Province Province. According to the annual report, in fiscal year 2004, the sales revenue of Xie Ruilin was 956 million yuan and the profit was 7.5 million yuan, which was the first profit in recent years. It can be said that the company's operating performance has revealed the dawn. However, the "ICAC Arrest" storm involves Xie Ruilin's core business, and its prospect is indeed worthy of attention.
According to employees in Xie Ruilin, even though Xie Gui is the chairman of a listed company, he still keeps the habit of working hard, and can work 365 days a year, because he likes to judge his achievements by how much money he earns. Perhaps because he took money too seriously, he got stuck in the gold rush game of real estate. Even though he has been rolling in the jewelry industry for 40 years and enjoys a lofty "Jianghu status" in the industry, he still can't get out of the shackles of his personal character.
The jewel king was found guilty of eight counts.
On April 24th, 2008, the Hong Kong District Court ruled that Xie Ruilin, his son Xie Dafeng and three senior executives of the company were convicted on eight counts, including offering benefits to agents, falsifying accounts and stealing. Among them, Xie Dafeng is the current chairman and executive director of Xie Ruilin Jewelry, a listed company, and Wen Bide is the current vice chairman and executive director. The other two defendants, Zhong Wanling and Wang, were also former senior managers of the company.
Xie Ruilin, known as the "King of Jewelry", founded Xie Ruilin Jewelry on 197 1. At the peak, his net worth was as high as HK$ 2 billion, but he was in debt of hundreds of millions after the financial turmoil and declared bankruptcy in September 2000. In 2003, with the help of mainlanders' "free travel" to Hong Kong, Xie Ruilin was able to turn losses into profits. In fiscal year 2004, Xie Ruilin's jewelry sales revenue was 956 million yuan and its profit was 7.5 million yuan. In 2004, Xie Ruilin also reached an agreement with creditors to repay130,000 yuan to lift the bankruptcy order, and its wealth story was ups and downs.
The court pointed out that during the period from 1996 to 2005, five defendants, including Xie Ruilin, conspired with a number of travel agency employees to offer kickbacks to tour guides through shell companies registered overseas to induce tour guides to take tourists to a jewelry store in Xie Ruilin. At the same time, they also used forged accounting records to lie that they paid promotion fees to many companies to defraud taxes. Eight charges * * * involved funds1.70 million Hong Kong dollars.
Kasper? Rui Lin and his son were arrested by the Hong Kong Independent Commission Against Corruption in February 2006. Xie Ruilin Jewelry listed on the Hong Kong Stock Exchange has been suspended and has not resumed trading so far.