/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's life can be described as ups and downs. 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.