Real estate market
Written by: Xu Shihao
2021-05-15 16:55
Last update date: 2021-05-15 18:17
A veteran investor, Deng Chengbo, known as the "shop king", passed away at the age of 88.
Although he started as a "specialist", he was not an investor when he was young, and his family was not rich and wealthy. He was another successful figure in Hong Kong who "made a home from scratch."
Looking up past reports, Deng Chengbo lost his father at the age of 5, became an apprentice of electric lights at the age of 16, and changed his career as an apprentice of neon signboards at the age of 19. He started a neon signboard business in Changsha Bay in the 1960s. When he was 40 years old, he started speculating in uncompleted properties. There are two theories in the market. One is that he started investing in Mei Foo, and the other is that he first started speculating in uncompleted properties in the Western District.
Detailed report:
"The King of Shop" Deng Chengbo passed away at the age of 88
Deng Chengbo is known as the "shop king" and his total assets are nearly 80 billion.
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97 financial turmoil owes huge debts
Since the 1970s, he and his friends began to enter the catering industry and car dealership. Because of this, he learned more about the shop market and began to invest in shops.
Everything seems to be going smoothly. In 1997, he intended to list a property worth more than 7 billion yuan. However, in the Asian financial turmoil, stock and property prices plummeted, and the listing plan was forced to be cancelled. There were rumours that he owed huge debts and peaked. The period is as much as more than 4 billion yuan.
To make a comeback, "Uncle Bo" sold some of its holdings, including the Mong Kok Computer Center, which was purchased for 60 million yuan in 1991, and changed hands for 400 million yuan, with a book profit of 340 million yuan.
However, according to the agent at the time, Midland Lu Zhanhao, the rental income of the Mong Kok Computer Center was 2.8 million per month, and the rate of return was as high as 8.4%. Such a high-return project had to be sold reluctantly, showing its difficult situation.
Deng Chengbo has been involved in the catering industry in his early years.
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Young boy Tang Yaosheng is regarded as the "successor"
After experiencing the financial turmoil, "Uncle Bo" saw that the government began to introduce a policy to revitalize industrial buildings. He invested funds in industrial buildings, applied for activation, and then demolished or sold them.
It is understood that he holds at least more than 200 industrial and commercial properties; according to the information on the website of Stan Group, the group cooperates with the Deng Chengbo family and jointly manages a real estate portfolio worth 73 billion yuan.
In recent years, he began to retreat behind the scenes and handed over the family business to his son.
It is known that he has five sons. It is reported that his second son, Deng Yaowen, is in charge of real estate business; Deng Yaohui, who is engaged in retail business, founded a chain of glasses shop brand "Prestige Vision" in 1995; his fourth son, Deng Yaobang, studied Chinese medicine in Guangzhou and obtained a Ph.D. Degree, has also begun to get involved in business in recent years.
As for the "successor" of Uncle Po, it is Stan, who established Stan Group in 2013 and took over the management of his father’s many assets. In addition to the catering industry, he has also invested heavily in pensions and hotel businesses in recent years, and has successively entered the Stan Group. Main Easy Communication (8031) and Songling Nursing for the Elderly (1989) are two listed companies.
Deng Yaosheng has invested heavily in pension and hotel business in recent years.
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Spend at least 26 billion yuan to sweep goods
Looking through the information, Deng Chengbo's family started secretly sourcing goods four years ago, and spent at least 26 billion yuan before and after, sweeping into more than 40 industrial and commercial shops, hotels, and old commercial and residential properties. One of the high-profile investments was in 2017. Tang Chengbo purchased Tuen Mun "Dragon Bed Plate" Jingjun for about 1.2 billion yuan. He planned to collect rent and also considered developing high-end elderly housing. However, Tang Yaosheng changed his style and repackaged it and put it on sale, which attracted the "Ten You Hong Kong Sister" Mai. Ming poetry entered the market.
However, the business of the catering and hotel industry has been affected by the anti-amendment regulations and the new crown epidemic. The Tang family has repeatedly reported financial problems. At the same time, since the end of 2019, the family has rarely entered the market. In recent years, it has turned into frantic shipments. Salvation for business.
In 2020, industrial buildings, commercial buildings, shops, hotels and other properties with a total value of more than 12 billion yuan have been put on sale, but only three of them were successfully sold during the period, and about 1.02 billion yuan was cashed in.
Detailed report:
Shop Wang Deng Chengbo's family sold 9 property sets in a single month, with a cash amount of less than 26 billion yuan, 3% of the market size
Speeding up the pace of "clearing goods" eroded Zhaogu
This year, we will further accelerate the pace of "removal". It is estimated that at least 15 properties of the company have been sold and about 2 billion yuan in cash, including the sale of a basket of properties in Ningfu Street Industrial Building, Chaiwan, for nearly 125 million yuan last month, holding the goods for two years. The book was only tied; the ground shop on Shui Hang Kou Street, Sheung Wan was also sold this month, with a loss of about 8.7 million yuan for the four-year holding.
As for the "most painful", it can be said that the ground floor entrance and the first floor shop of Sai Kung Garden, 16 Chan Man Street, Sai Kung, have changed hands for about 400 million yuan, compared with the purchase price of 438 million yuan in March 2017. The book value has lost 38 million yuan. Yuan or 8.6%.
The latest group also recently launched a market tender for a basket of properties on Junction Road, Kowloon City, including serviced residences for the elderly in Kowloon City Wei Ying Xuan and adjacent old buildings, with a market value of more than 2.5 billion yuan.
Detailed report:
Shop king Deng Chengbo sells for 400 million yuan in Saigon Supermarket's giant store in 4 years with a book loss of 38 million
Deng Chengbo's family sold 41 million yuan to the ground shop in Tsuen Wan to cash out more than 150 million yuan in two weeks
"Paving King" Salvation
The group has successively reported negative news, including that Pine Active Care, the controlling shareholder of Pine Active Care Group, filed a claim in the High Court for at least 260 million yuan and the land held in custody at the beginning of this year. The incident was finally settled by Deng's repayment.
After going through ups and downs, Deng Chengbo also wanted to "rescue the nation." Last year, Deng Chengbo admitted financial difficulties during an interview with the "Apple Daily". "Banks are all borrowed, and you have to borrow." By March this year, he accepted the "Sing Tao Daily". "The interview refers to the "unexpected" in the epidemic city, so some of the properties were sold to bail out, reiterated that the total assets of its assets are nearly 80 billion, and the sale accounts for a very small proportion. He also praised Stan for his diligence and conscientiousness. "I give him More than 90 points, and the remaining points, encourage him to continue to improve!"
Stan admitted that he had "goed too fast" in the past few years. Under the epidemic, he realized that he needed to adjust the pace of development. "In the past, many properties were bought right. They were all treasures. We have always adhered to them and refused to sell, so that there will be development opportunities in the future. !"
Having said that, it was reported last week that Uncle Po has established as many as 49 companies so far last year, of which at least 30 company names are related to the catering business. Most of them are directors by young son Deng Yaosheng. It seems that he intends to accelerate the development of the catering business. However, a source told "Hong Kong 01" that "Uncle Po's style has always been, but after opening a bunch of companies, there may not be immediate uses or actions."
Detailed report:
Chuanpu Wang, Deng Chengbo’s wife mortgaged insurance policy to borrow 3 million related companies: out of nothing
Deng Chengbo