Liu Genshan, A King Of Highways: A History Of Fortune

In Shanghai and Hongkong, Liu Genshan, who was obscurity, suddenly became a high-profile.

In the Hurun edition's latest China list, Liu Genshan ranked forty-third, with assets of 1 billion 500 million yuan, and he was 46 years old. He was officially the president of Shanghai Mao Sheng Enterprise Development Group Limited and chairman of Hong Kong listed companies Mao Sheng International.

Before that, Liu Genshan never disdain exposing himself to the public, because he does not need it.

Recently, Liu Genshan suddenly interviewed in Hongkong.

This is undoubtedly a carefully chosen moment - a series of capital operations have just been completed, and Liu Zheng is ready to climb the position of the rich and powerful in an ambitious way.

Zhou Zhengyi is closely related to the "richest man in Shanghai".

Liu speaks for others and is quite "Shanghai style".

In two consecutive interviews, Liu Jie was dressed in casual clothes and kept smoking.

Hongkong media called Liu Genshan a "highway king".

Up to now, a total of seven expressways have been operated by Mao Sheng.

In addition, mastered the real estate sales area has reached 500 thousand square meters, in Chongming and the size of Yangshan port near each has nearly 6000 mu of land reserve.

According to lush data, the group's total assets amounted to about 25000000000 yuan.

In October 2002, lush spent HK $1 billion 130 million with a premium of HK $700 million to acquire Hong Kong listed companies Asia resources.

Recently, lush has bought 660 million hotels in Hong Kong and three hotels in the blue Cheng Wan project under Huangqi.

At this time, Shanghai financial circles questioned him.

In the banking sector, we estimate that all of our road assets are at least 140 to HK $15 billion.

When you put it in an offshore fund, Mr. Liu occupies nearly 70% of the shares. Do you think Mr. Liu is the richest person in China?

Yan Sheng, the newly appointed president of Mao Sheng International, said.

In fact, as the love of Liu, Yan Sheng knows little about the mysterious history of the boss.

"I came to Hongkong in 1985, and I should be the first to come to Hongkong."

Sitting in the office of the 16 floor of the Bank of East Asia Bay Center, Liu Genshan pointed to a set of green couches, which was bought in Hongkong in 1992 and has never been changed.

"I have been in the Chongming Island farm for several years. I have been planted and worked as a worker. I can't imagine how hard it is to eat."

Liu recalled.

Before and after 1980, Liu resigned and began to do business.

Later, Liu found the opportunity to make money for Taiwan Trade and pferred from Shanghai to Shenzhen.

Just five years later, in 1985, Liu had pferred from Shenzhen to Hongkong.

In 1988, Hongkong Mao Sheng International Limited was formally established. It was said that the registered capital was about HK $50 million.

But Liu did not say clearly the source of this huge sum of money.

In 1992, Liu began to invest in property in Hongkong.

The office building was purchased by one hundred million yuan at the end of 1993. Now it is leased to 18 million listed companies as office buildings.

When Liu Genshan returned to Shanghai to develop real estate, he enjoyed the treatment of foreign investment.

In 1999 or so, Liu Genshan got the first highway project - Jia Liu expressway, and then set foot on the road of "king of the highway".

The highway statutory fund is 35%.

But in general, you can start a project with only 20% of your own capital injection. "

Liu Genshan has no longer denied the secret trick of making money. "The government has made a green light on loans, because it is the government's infrastructure project."

From the 7 highways invested by Liu Genshan, he used the operation mode of "Lu Sheng Lu".

The Shanghai Jia Liu project is a item company jointly established by Shanghai lush group and Shanghai urban construction.

The registered capital of the company is only 100 million yuan, of which Shanghai urban construction (Group) company invested 51%, Shanghai Mao Sheng Enterprise Development (Group) Limited invested 49%, less than 50 million less invested.

The total investment of the project is 4.5 billion.

The second Shanghai Qingping highways, Shanghai Mao Sheng Group Co., Ltd., Shanghai urban construction and Shanghai construction workers jointly constituted 67%, 25% and 8% respectively, with a total capital investment of 620 million and a total investment of 3 billion 500 million.

Lush investment 420 million.

The third roads of Shanghai, along with the three high-speed highway, have started almost simultaneously with the Shanghai Qingping highway. It is also jointly funded by Shanghai Construction Engineering (47.75%), Shanghai urban construction (26.25%) and Shanghai flourishing group (26%) three units.

The company's capital is RMB 960 million yuan.

The total investment amounted to 2 billion 880 million yuan.

Lush investment 250 million.

After that, the investment level of Shanghai was magnified. The fourth registered capital of Shanghai South Ring Expressway was 800 million yuan, which was wholly owned by the group.

The total investment is RMB 3 billion 618 million yuan.

The fifth Ningbo Ring Expressway Co., Ltd. was jointly funded by Shanghai lush and Ningbo traffic investment and development company.

The company invested 1 billion 200 million yuan in the first phase, and the group was the controlling shareholder with a 80% stake in the company.

The total investment of the project is 3 billion 650 million. The two phase of the Ningbo round the city (Beilun to camel section) needs to invest RMB 5 billion 100 million yuan, which is 87.5 billion.

Lush requires a total investment of 2 billion 500 million.

Sixth Yongjin motorways are jointly funded by Shanghai lush and Shaoxing Traffic Investment Co., Ltd.

The company's capital is 840 million yuan, of which, as a controlling shareholder, flourish has a 70% stake in the company.

The total investment is 2 billion.

Lush investment nearly 600 million.

The seventh way of Ningbo is Beilun's acquisition. According to Yan Sheng's figures, the acquisition price is nearly 2 billion.

According to the information disclosed by Yuan Xiaojun, President of Yan Sheng and chief financial officer of Mao Sheng International Company, the liabilities of the group are RMB 1 billion and the debt ratio is 50%. The liabilities ratio of the 7 expressway projects is secured by the future operating income as a result of the capital construction projects, and the debt ratio is 70%. Together, the total liabilities of the 7 highways reach about 4000000000 yuan.

According to this calculation, if Liu Genshan succeeded in pferring all expressways to Hongkong, the group's net assets would be only 1 billion yuan, and Liu Genshan could realisse about 10000000000 Hong Kong dollars at a time.

Shanghai storm?

Is the lush asset of the company strong enough to withstand torture?

In the seven roads, the traffic flow of Shanghai's Jialong highway and the same three highway is not as good as expected. Beilun port has not yet made any profit.

Moreover, flourishing in another highway in Shanghai, South Ring Expressway, there are many suspicions.

On the web page, it claims that it owns 100% of the South Ring Expressway.

But in November 9th, the Shanghai Equity Exchange announced that a Hongkong company bought 52% of the South Ring Expressway in Shanghai, with a paction value of only 200 million yuan, less than 52% of the 800 million capital of the South Ring Road, or 400 million of the capital.

Liu Genshan told reporters in an interview with reporters that the acquisition of 52% stake in the Southern Ring "actually is their own" - is the flourishing of Hongkong lush capital construction company.

The share proportion of the whole South Ring project is 70% of Shanghai's flourishing group, 10% of which is owned by Shanghai state run company, and 20% is a company under Jinshan District government.

Hongkong's lush capital construction acquisition is 52% stake in Shanghai's 70% stake, and its value is 200 million yuan.

But the deal is now suspended, and Hongkong's lush is preparing to buy all 70% of Shanghai's stock.

The paction price is also uncertain due to the change of trading interest.

He disclosed that the other 30% stake, they have also started the acquisition process, but has not yet finalized the legal proceedings.

The other version found by our newspaper reporter is that the seller of the shares sold for the four districts of Jinshan District, and the share interest was 52%, of which 42% were owned by the state-owned assets of four districts in Shanghai, Fengxian, Nanhui and Pudong, while the remaining 10% were owned by a natural person or its agent.

And the owner of the mysterious 10% stake is not yet on the day of exposure.

When the Off Shore Company buys the domestic expressway and then injections into Hong Kong listed companies, will it encounter the issue of approval and law in mainland China?

Wang Hong and Yan Shengjun said that the current paction has not yet been completed, because the related projects need to turn from domestic projects to foreign capital projects. First, it is approved by the Shanghai foreign trade and Economic Commission and other relevant departments, such as the municipal administration and the SASAC.

However, Liu Genshan disclosed that the 55% stake in Beilun port was already in Hongkong's flourishing capital construction in Hongkong, and it had already received approval last year, so he did not think that the policy resistance would be great.

As for the reasons why the government has not yet approved the results, an industry analyst said: first, because of the sensitive topic of the loss of state-owned assets and the involvement of highway investment and construction in public welfare undertakings, the pfer has not been approved by the Shanghai municipal administration and relevant departments.

More importantly, after the exposure of a series of real estate cases, the "cooling effect" of investment has gradually shown that the approval procedures of district governments in Shanghai have become more cautious.