Forbes Rich Wang Shuifu'S Territory Is Beginning: From Farms To Large Aircraft.

On the evening of November 10th, the SFC issued an announcement that the first application of the Hangzhou boiler group Limited by Share Ltd (hereinafter referred to as the "hang Guo group") was approved.

What can be expected is that

The prospectus shows that the Wang Shuifu family is three of the actual controller of Hangzhou Boiler Group, and three of the actual controllers are Chen Xiaxin's Wang Shuifu's wife and brother. Xie Shui Qin is Chen Xiaxin's spouse.

Wang Shuifu and Chen Xiaxin indirectly hold the 50.1208% stake of Hangzhou Boiler Group by holding the 55.625% and 44.375% shares respectively of Xizi Elevator Group Co., Ltd. (hereinafter referred to as "Xizi Elevator").

Xie Shuiqin is holding 25% of Hangzhou Boiler Group through Jin run (Hongkong) Co., Ltd. (hereinafter referred to as golden run Hongkong).

In 2010, Forbes, a 55 year old Wang Shuifu, ranked 63 in China's fortune list of 9 billion 300 million yuan.

"Wang Shuifu and Chen Xiaxin worked together in the garden village as early as possible.

Wang Shuifu is good at grasping the macro direction. Chen Xiaxin is good at concrete implementation. Now Wang Shuifu is fading away from concrete management.

Hangzhou private enterprise insiders told reporters.

The garden village in the outskirts of Hangzhou is Wang Shuifu's hometown, and also the place where he grew up.

Through the prospectus of Hangzhou group, we can also take a glimpse of the wealth path of the Wang Shuifu family, and the two reform is accompanied by it.

One is that Wang Shuifu and Chen Xiaxin step by step, and gradually reclaim the Xizi Elevator, which is the collective assets of the garden village in Jianggan District, Hangzhou. The second is to make a secret decision in the restructuring of Hangzhou Boiler Group. First, the employees' shares, including the senior executives of Hangzhou Boiler group, are bought on the basis of net assets, and then partly sold to the senior managers by the name of "incentive".

Wang Shuifu's "making department"

This is the second listed company controlled by the Wang Shuifu family. The Wang Shuifu family owns 50.1208% stake in Hangzhou Boiler Group through Xizi Elevator, and has 25% stake in Hangzhou Boiler Group through Jin run Hongkong.

In addition, the shareholders of Hang Pan Group also include Hangzhou industrial assets management Investment Group Co., Ltd. (hereinafter referred to as "industrial assets investment group"), which is a state-owned company authorized by the Hangzhou municipal government to operate state-owned assets, and holds 16.67% of the hang pot group.

The remaining shareholders of Hang Pan Group are natural people, including 7 million 789 thousand and 600 shares of the company director and party secretary Yang Jiansheng, accounting for 2.1667% of the total equity. The remaining three executives, Wu Nanping, Yan Feilong and butcher, hold 7 million 190 thousand and 400 shares of Hang Pan Group, and the share ratio is 2%.

Wu Nanping was chairman of the company and Yan Feilong was general manager, and he was left on 2009 as vice chairman.

According to the prospectus, Hangzhou battery group's earnings per share were 0.64 yuan in 2009. According to the total share capital of 400 million 520 thousand shares issued after the issue, diluted earnings per share were 0.57 yuan. According to the 30 times issue earnings ratio, the issue price will reach 17 yuan / share.

Based on this calculation, the Wang Shuifu family holds 270 million shares of Hangzhou pot group. Once the hang Guo group is listed successfully, the market share of the Wang Shuifu family is expected to reach 4 billion 600 million yuan.

The above four executives' personal assets are expected to exceed 100 million yuan.

In addition, two natural persons, Yang Enhui and Wang Weikang, hold 134 thousand and 800 shares and 30 thousand shares respectively.

With the listing of Hang Guo group, the Wang Shuifu family will also add a capital platform after the 100 largest group.

At present, Xizi United Holding Co., Ltd. (hereinafter referred to as "Xizi United Holdings") owns 21 million 658 thousand and 200 shares of the largest group and 112 million 618 thousand and 300 shares of restricted stock, and holds 35.69% of the total share capital, and is the largest shareholder.

In November 11th, the closing price of 100 largest group was calculated at 8.7 yuan, and the value of the stock market was 1 billion 168 million yuan.

In contrast, Hang Hang group war, the Wang Shuifu family will grab 4 times the market value of the 100 largest group.

While Xizi United holdings is Wang Shuifu holding 90%, Chen Xiaxin is chairman of the 100 largest group.

The two major capital platforms are the Wang Shuifu family's capital operation.

In March 2006, Xizi United holdings took over 70 million 120 thousand state-owned shares from the Hangzhou Klc Holdings Ltd, holding 26% of the company.

At the same time, the Yintai system has adopted the two tier market holdings and other means, with a shareholding ratio of 21.24% approaching the joint venture of Xizi.

Since then, the two sides have been fighting for close to two years, and finally ended in Yintai's reduction.

Xizi United Holdings has become famous in the capital market.

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Name of reform

Wang Shuifu's family once again fought the capital market, and its hang poke group was also bought.

In the meantime, it is the "Infernal Affairs" of the executives of Hangzhou Boiler Group.

In November 2002, Xizi Elevator purchased Hangzhou Hangzhou Group Limited 75% stake, and subsequently increased the company's capital by 40 million yuan.

The above shares were purchased from Hangzhou limited staff stock holding Association and 28 natural persons, and the price was 1.625 yuan per share, which was determined on the basis of the 1.035 yuan net assets of Hangzhou Hangzhou limited at the end of 2001.

The shareholding of the Employee Stock Ownership Association and the natural person is derived from the limited restructuring process of Hangzhou pot. The employee stock ownership will hold a 67.029% stake in Hangzhou pot and the remaining 28 executives will have a shareholding ratio of 7.791%.

Based on this calculation, the total price of Xizi Elevator is 97 million 500 thousand yuan.

The Hangzhou stock exchange prospectus explained that the acquisition of Xizi Elevator did not violate the wishes of the staff.

The prospectus said, "after the pfer of shares, Xizi Elevator commissioned Hangzhou Hangzhou limited trade union to post a notice on the Hangzhou pots limited bulletin board, and informed the staff of Hangzhou Hangzhou limited staff shareholding association that, with the natural person status, the limited price of the original share pfer price should be pferred to the West elevator to buy a limited stake in Hangzhou limited.

In this regard, two employees Yang Enhui and Wang Weikang bought 45 thousand yuan and 10 thousand yuan respectively, in order to form a two stake in Hangzhou group.

At that time, it seemed that the company executives paid a premium of 57% on net assets and took the lead in cash holdings, but then things suddenly changed.

In August 21, 2003, Xizi Elevator pferred 2 million 600 thousand yuan to Yang Jiansheng, pferred 2 million 400 thousand yuan to Yan Feilong, pferred 2 million 400 thousand yuan to Tu butre, and pferred 2 million 400 thousand yuan to Wu Nanping.

All four of them were limited executives at Hangzhou limited.

And the pfer of shares is half sold and half delivered.

Half of the shares are priced at 1.39 yuan per share to the above four people, while the remaining 50% share is paid free of charge.

Take Yang Jiansheng, chairman of Hangzhou Hangzhou limited company as an example, before the acquisition of Hangzhou Hangzhou limited by Xizi Elevator, it held 578 thousand yuan of investment in Hangzhou pot, first cash in 939 thousand and 250 yuan. After the pfer of shares, 1 million 807 thousand yuan won the limited investment of Hangzhou 2 million 600 thousand, which was raised by Xizi Elevator. Finally, after 7 years, it won hundreds of millions of assets.

However, ordinary employees are able to hand over chips through ESOP, and the middle level of some natural persons holding shares is no exception.

And the total cost of Xizi Elevator's acquisition of equity and capital increase is only 137 million 500 thousand yuan, which will soon become a market value of more than 4 billion 500 million yuan.

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From farms to big ones

The accumulation process of Wang Shuifu's family wealth has also emerged quietly in the prospectus, and enterprise restructuring is also the source of its family wealth accumulation.

According to the prospectus, Xizi Elevator was originally a collective enterprise in the garden village of Jianggan District Town, Hangzhou. In the process of enterprise restructuring in 1998, the Huayuan village collective and ESOP share 54 million 607 thousand and 500 yuan and 54 million 607 thousand yuan respectively.

Over the past 2003-2006 years, the shareholding of the collective and ESOP has been purchased by two people, Wang Shuifu and Chen Xiaxin. As a manager of Xizi Elevator, two people have obtained part of the stock rights without any compensation after completing the performance appraisal through the way of "risk responsibility shares".

After August 2006, Wang Shuifu and Chen Xiaxin two people completely controlled Xizi Elevator, with a shareholding ratio of 55.63% and 44.37% respectively.

"Xizi Elevator is Wang Shuifu's core asset and the source of his initial wealth accumulation."

The above Hangzhou private enterprise circle told reporters.

The biggest profit for Wang Shuifu was the joint venture of OTIS and Xizi Otis, a joint venture between West elevator and American elevator giant Otis.

In the initial joint venture between the two sides, Xizi Elevator shareholding ratio was 70%, but after that, the US demanded holding.

In 2001, Wang Shuifu gave up Xizi Otis's controlling stake, and the US side held 80% stake in Xizi Otis by increasing capital and expanding shares.

According to rumors, the West elevator, which allows the controlling status, will receive a compensation of 17 million yuan per year for 10 years.

As a result, Wang Shuifu's family investment is all over Hangzhou.

From farms to real estate, from financial equity to large aircraft projects, the Wang Shuifu family has been widely involved.

In fact, Xizi Elevator and Xizi United holdings are at the top of the Wang Shuifu family's capital territory.

Among them, only 4.43% stake in Zhejiang Commercial Bank, 1.26% of life insurance, 4.43% stake in Hangzhou industrial and commercial trust, 20% stake in Hangzhou Jianggan District Huiyin small loan Limited by Share Ltd and 7.2% stake in Hangzhou West pawn.

Xizi United holdings owns 4.85% stake in Zhejiang securities and 36.5% stake in Hangzhou West pawnshop in addition to holding 100 largest group.

In addition, Xizi's other brilliant investment is holding 5.19% of Hangzhou's Limited by Share Ltd.

At present, Beingmate has handed in IPO materials or will land in the A share market.

The Wang Shuifu family's investment in real estate is hardly optimistic.

Zhejiang Xizi Real Estate Group Co., Ltd. and Shanghai Xizi Real Estate Co., Ltd. are their real estate platforms in Hangzhou and Shanghai.

"In Hangzhou, Xizi real estate is mainly engaged in development projects with Greentown. Wang Shuifu and Song Weiping have a very deep friendship. The elevator of Xizi is often used in the development of green city."

A senior manager of a listed real estate company in Hangzhou said to reporters.

However, according to the prospectus, the net profit of Zhejiang Xizi real estate as at the end of June 2010 was -2.35 million, and its net assets were also negative.

The two companies holding 60% and 50% respectively, Zhejiang Xizi Lvcheng Real Estate Group Co., Ltd. and Zhejiang Green West Real Estate Group Co., Ltd. realized 99 thousand and 700 yuan and 153 million yuan net profit in the first half of this year respectively.