Zhang Mengzhen
News World
"Don't let Pan Shiyi run away." This sentence has been mentioned from time to time since 2015.
This Wednesday (September 7), Pan Shiyi and his wife Zhang Xin stepped down as the chairman and chief executive of the Chinese board of directors of SOHO, respectively, and once again caused public opinion to question him "running".
Pan Shiyi was born in a poor family in rural areas in Gansu. After graduating from the School of Petroleum Pipeline, he was assigned to the former Ministry of Petroleum of China.The department originally belonged to the ministerial level and was one of the constituent departments of the State Council of China.Although it is not a small step to enter a main unit from the poverty -stricken countryside in the western region, Pan Shiyi gave up the iron rice bowl and chose to start a business.
In the late 1980s, Pan Shiyi resigned to the sea and cast his eyes on real estate, and made a lot of money.In 1995, he and Zhang Xin founded SOHO China, and in 2007, he successfully sent the company to the Hong Kong Stock Exchange to create IPOs in Asia's largest commercial real estate company at that time.
At the time of glory, SOHO China was the king of real estate, and in 2003, the tax scale ranked second in the industry.Due to the sense of design of the developed projects, the company also won the reputation of "urban landmark harvesters". Many famous landmark buildings on Wangjing and Shanghai Bund of Beijing are from SOHO China.
However, after a lapse of 27 years, SOHO China sells debt and repays debts, and is trapped in the predicament of performance. The Pan Shiyi couple has become the company's negative assets.After the two announced their deployment, the market regarded this as a good news, and SOHO China's stock price rose sharply.
Why did the former real estate industry who used to be unlimited?
Pan Shiyi may be empty for the early days of the Chinese real estate industry.Since 2009, China's land prices have doubled several times.Pan Shiyi believes that the auction is too fierce and the risk is too great, and in 2012, he announced the stopping land.From 2014 to 2019, SOHO China sold a large number of real estate in China, and the cumulative sales of buildings were about 29.3 billion yuan (RMB, the same below, the same, S $ 5.927 billion).The Pan couple held 63.93 % of the shares, and the cash was divided into HK $ 15.7 billion (S $ 2.815 billion).
After the company's assets met, Pan Shiyi and his wife showed their strong willingness to sell SOHO China.Both Blackstroke Group and Gao Yan Capital reported interested acquisitions, but they did not succeed in the end.
While "selling and selling" in China, the couple began to set up US assets frequently, invested in two real estate in New York, and cooperated with the Brazilian consortium to acquire the equity of the U.S. GM Building.
At the same time, SOHO China ’s operating conditions have deteriorated all the way. Its industries received sky -high tickets due to issues such as charges, illegal power prices, and taxation, and a total of 900 million yuan was as high as 900 million yuan.
Although Pan Shiyi promised not to leave China, the critics believe that the Pan couple did not take much attention to the company's operations. A series of operations that sold the building were transferred to overseas, so that they would "run the road" in the future.The United States, not to mention his three children are now overseas.
According to public reports, Pan Shiyi's eldest son Pan Rui studied for a doctorate in real estate at Henry Business College, UK. The second son Pan asked Pan to study at Yale University in the United States, and the young son Pan Shao was admitted by Harvard University.The Pan Shiyi and his wife donated $ 100 million (S $ 140 million) to Harvard University in the name of the SOHO China Foundation in 2014.This is interpreted by many people as a good future for children through disguised investment.
Pan Shiyi was once higher than Alibaba's founder Ma Yun. In the 2012 Chinese Weibo Opinion Leadership Ranking, Pan Shiyi ranked first.He closed the Weibo comment function in 2020, and there are still 18.9 million Weibo fans.The former opinion leaders have rarely appeared today, and the recently reported appearance was in September last year.At that time, Blackstone acquired the SOHO China case, and the media found that the Pan Shiyi couple appeared in the United States and watched the game at the auditorium of the US Open Women's Singles Finals.
Pan Shiyi took the spring breeze of reform and opening up to eat the dividends of real estate development, and to get out at the most difficult moment in real estate in China, which is better than most peers.His entry and outbound situation all showed the savvy of businessmen to the fullest.
