Born in Fuyang Village, Xianghua Township, Anxi County, Fujian Province on October 25th, 1961
In p>1982, he sold timber from rural forest farms to Xiamen, and five years later, he saved the first bucket of gold.
started as a grocer in Xiamen in p>1987.
In p>1995, he set up Xinhuadu Department Store in Fuzhou.
In p>1998, he separated from his younger brother, Chen Jinjiang, and Chen Fashu established Xinhuadu Group.
in September p>2111, he joined Zijin Mining, and now holds 21.19% of the shares, making him the second largest shareholder.
in p>2113, Chen Fashu got involved in real estate development and took part in Wuyishan tourism, which was about to go public.
In p>2118, Tang Jun, known as the "Emperor of China", left Shanda to replace Chen Fashu as the president of Xinhuadu Group with a "transfer fee" of 1 billion yuan.
in September, 2119, Chen Fashu was exposed to tax evasion exceeding 1 billion yuan, and was caught in the "tax evasion door", and the State Administration of Taxation intervened in the investigation. From April 27th to September, 2119, Chen Fashu reduced its shareholding in Zijin Mining, and the total cash is close to 3 billion yuan. According to the latest personal income tax rate, Chen Fashu should pay 45% of the personal income of nearly 3 billion yuan, that is, more than 1 billion yuan.
On October 21th, 2119, Chen Fashu officially donated securities worth RMB 8.3 billion to form the largest individual charitable fund in China. This fund accounts for 45% of Chen Fashu's total property. The fund was named "Xinhuadu Charity Fund". Mr. Chen Fashu is the president of Xinhuadu Charity Foundation, Zhang Huaixi, vice chairman of the 11th Chinese People's Political Consultative Conference, honorary chairman of Xinhuadu Charity Foundation, Luo Haocai, vice chairman of the 11th Chinese People's Political Consultative Conference, senior consultant of Xinhuadu Charity Foundation, and Mr. Tang Jun, president and CEO of Xinhuadu Group, will be the executive chairman of Xinhuadu Charity Foundation, who will be fully responsible for the management and daily operation of Xinhuadu Charity Foundation.
On May 4th, 2111, the "2111 New Fortune 511 Rich List" ranked 11th with assets of 27 billion yuan.
In p>2111, we donated 511 million yuan to Minjiang University to establish Xinhuadu Business School, with the goal of being a world-class business school and China No.1 Business School.
In the list of rich people published by Forbes in p>2111, Chen Fashu ranked 323rd in the world and 15th in China with US$ 3.4 billion.
In the list of rich people published by Forbes in p>2112, Chen Fashu ranked 442nd in the world with US$ 2.7 billion, and remained the richest man in Fujian Province.
In p>2112, Chen Fashu ranked 22nd in Forbes China Rich List with RMB 16.38 billion.
In p>2113, the New Fortune China Rich List ranked 35th with 15 billion yuan.
On September 23rd, 2114, Hurun Research Institute released the 2114 Hurun Report, and Chen Fashu ranked 47th with a wealth of 21.5 billion yuan.
In p>2115, it ranked 117th on Forbes Chinese Rich List with US$ 2.8 billion.
In p>2115, he served as the deputy director of the board of directors of Minjiang College.
Starting from wood business to department store retail
In p>1982, Chen Fashu got on a truck loaded with wood from Anxi and came to Xiamen. After returning, he took a bus to Xiamen, and soon signed a contract with a company to transport wood. Two cars of wood earned more than 1,111 yuan. First by car, then by train. By 1986, he had become a big wood trader in Quanzhou and bought his first house in Xiamen.
in p>1987, Chen Fashu began to "transform" his career, secured his real estate, bought a three-wheeled motorcycle, and started to help a small shop with an area of 8 square meters with his two younger brothers, and then sold it.
On October 8, 1995, Chen Fashu came to Fuzhou and opened Xinhuadu Department Store in Dongjiekou Scenic Resort, Fuzhou, which was across the street from Dongjiekou Scenic Resort Department Store Group, the commercial leader in Fujian. In 1997, Xinhuadu restructured and reorganized some of its high-quality assets, resulting in Xinhuadu Industrial Group Co., Ltd., with a registered capital of RMB 16 million, with Chen Fashu holding 71% of the shares. Xinhuadu Group mainly focuses on department stores and supermarkets, and invests in construction machinery, real estate and other industries, and actively participates in tourism development companies and mining. The business framework of the group has begun to take shape.
With its own unique business vision, when the retail capital of Fuzhou frequently changed to Dawang Banner for more than ten years, Huarong and hualian department store closed down one after another from Huadu in Wuyi Road, Fuzhou in October 2111, and two private enterprises in Shenzhen entered Dongjiekou Scenic Resort Department Store. At the same time, Xinhuadu Department Store stood firm. This is the real turning point of Chen Fashu's career.
Since then, Xinhuadu Shopping Mall of Fuzhou Railway Station, Huli Shopping Mall of Xiamen and Xinhuadu Shopping Plaza of May 4th Road have been established one after another. In 1997, the former Fujian Provincial Commission for Restructuring led Xinhuadu to restructure some of its high-quality assets, which gave birth to Xinhuadu Group. The group mainly focuses on department stores, and also invests in hotels, construction machinery and other industries.
At the end of p>1999, Chen Fashu took the lead in launching a new retail format of "one-stop large-scale storage supermarket" on Wusi Road in Fuzhou, and rented the real estate that others were eager to sell at a low price, thus creating a 2,111-square-meter Xinhuadu Shopping Plaza.
Chen Fashu met Chen Jinghe, the golden partner of his life, and successfully joined Zijin Mining in September 2111, becoming the second largest shareholder of the company. Since then, Chen Fashu has been actively involved in the real estate and tourism industries.
In p>2111, Zijin Mining was restructured into a joint-stock system. At that time, the estimated value was less than RMB 511 million, and it was established at the ratio of 1.515:1. The number of shares was 95 million. In fact, the total capital contribution of Chen Fashu through three affiliated companies was only RMB 33.59 million.
At the beginning of p>2114, Xinhuadu Group decided to increase investment in the supermarket industry, and strive to achieve the overall listing of Xinhuadu Shopping Plaza in three years. In the same year, Chen Fashu decided to break through from Fuzhou, focusing on Xiamen, Zhangzhou and Quanzhou.
In April p>2118, Zijin Mining returned to the A-share market, and Chen Fashu's equity was calculated at the issue price of 7.13 yuan per share, with a market value of 15.529 billion yuan, an increase of about 461 times in just eight years.
On May 7, 2119, Chen Fashu, the richest man in Fujian, took over 7% equity of Tsingtao Brewery for US$ 235 million.
Developing
Revitalizing Real Estate and Tourism
In May p>2113, Xinhuadu Group chose Youhui Plaza, where its Wusi Road shopping plaza in Fuzhou is located, as the starting point. The project was once stranded, and Xinhuadu Group joined hands with foreign-funded enterprise Chuncheng (Singapore) Investment Co., Ltd. to acquire Hua Fu Hotel Co., Ltd., the original developer of Youhui Plaza, holding 51% of the shares in one fell swoop.
Youhui Plaza was later renamed Huacheng International. After repositioning the project, importing advanced development concepts, we hired American IDAC Architects to design the architectural effect. In September 2113, Huacheng International Commercial and Residential Apartment opened, and sold out soon after the first phase was launched. It has 25 floors in the south building and 28 floors in the north building, with a total area of 1 million square meters. It integrates shopping centers, high-grade office buildings, boutique single apartments, hotels and restaurants, and builds Fuzhou Gulou CBD with other high-grade buildings around it, which has aroused great repercussions. At present, the price of single apartment in this project is more than 2,111 yuan per square meter, the rental price is over 1,511 yuan per set (41 square meters), and the property fee is up to 1.5 yuan/square meter, which is relatively high in Fuzhou market.
This is also the only real estate project of Xinhuadu Group.
In addition, Fujian Wuyishan Tourism Development Co., Ltd., in which Chen Fashu shares, is also worthy of attention. At present, Wuyishan tourism is actively preparing for listing.
Wuyishan Tourism was established in October, 1999, with Xinhuadu Group holding 35% of the shares and Chen Fashu as the vice chairman of Wuyishan Tourism. Wuyishan Tourism has a total share capital of 54 million shares and a net asset of 81 million yuan. The other four sponsors are Wuyishan Tenglong Tourism Development Co., Ltd., Wuyishan Scenic Area Bamboo Raft Corporation, Tenglong Tourism Company and Bamboo Raft Corporation under the management committee of Wuyishan Scenic Area, among which Tenglong Tourism Company holds 51% of the shares.
after the establishment of the company, the positioning of Wuyishan as a "boutique tourism" was clarified, and hundreds of millions of yuan were invested in the demolition and resettlement of villagers in the scenic spot, the highway construction in the scenic spot and the intelligent management of the scenic spot. In 2111, the income exceeded 111 million yuan, in 2112 it reached 15 million yuan, and in 2117 it reached 268 million yuan. Xinhuadu made a profit of over 51 million yuan.
In p>2118, Tang Jun, a famous professional manager and former president of Shanda Network, was hired as the president and CEO of Xinhuadu Group.
Highlights
IT Finance and Software
Xinhuadu Information Technology, located at Erwang Sea Road in Xiamen Software Park, is a wholly-owned holding company invested and established by Xinhuadu Group, which is mainly engaged in POS machine promotion, related information training and consulting. The company's scale is only 111 people, but there are signs of expansion in the near future, and it vigorously recruits software engineers, channel managers and sales staff.
At present, our main products are two kinds of management software: hotel management system and supermarket management system. The former is mainly suitable for information management of various large, medium and small hotels, and has some customers in the catering industry in Fujian and Guangdong, such as Xiamen Wangcheng Restaurant Catering Company and Shenzhen Golden Bay Hotel. The latter mainly provides convenience for formulating various sales strategies, realizing single item management of commodities and optimizing inventory management. At present, it is mainly used by stores, supermarkets and stores under Xinhuadu Shopping Company.
The official website of Xinhuadu Information Technology calls itself "Xinhuadu Software", and the joining of Tang Jun makes it possible to expand the company's product line. In addition, Tang Jun said in an interview with this newspaper that he would acquire an IT finance company, and the industry analyzed it as Hong Kong and Macao Information, a financial information service provider.
Later, it was registered in Xinhuadu Construction Engineering Co., Ltd., Shanghang County, Fujian Province, where Zijin Mining is located, with only a thousand employees. In recent years, the company has successively signed project contracts with Zijinshan Gold and Copper Mine, Jiuzhaigou Grassland Gold Mine in Sichuan Province and Delny Copper Mine in Qinghai Province, and its output value has reached 21 million yuan in 2116.
the industry believes that the RMB common stock of Fujian Xinhuadu Shopping Plaza Co., Ltd. was listed on the Shenzhen Stock Exchange on July 31, 2118. The short name of the securities is "Xinhuadu" and the stock code is "112264". The total number of ordinary shares in RMB of the company is 116,881,111, of which 21,441,111 shares that were publicly issued for the first time at online pricing have been listed and traded since the date of listing. Wuyishan Tourism, Xinhuadu Software, Xinhuadu Project and even Hong Kong and Macao Information, the four companies controlled by Xinhuadu Group, are likely to become listed "chess pieces" under the group in the future.
on September 27th, Changyou Fund completed its capital increase and shareholding in Beijing Bichuang Technology Co., Ltd.. Chen Fashu, a well-known entrepreneur, and Tan Zhi, a venture capitalist, are partners of the fund. Founded in Zhongguancun in 2115, Beijing Bichuang Technology Co., Ltd. is committed to the high-end application market of Internet of Things industry monitoring, and has many invention patents in the field of wireless sensor network, the core technology of Internet of Things. It is a leading enterprise in the domestic market of structural health monitoring, industrial process control and online monitoring of rotating machinery based on Internet of Things technology, with good sales performance.
Important Event
In September p>2119, Chen Fashu was exposed to tax evasion of over 1 billion yuan, and was caught in the "tax evasion door". The State Administration of Taxation intervened in the investigation.
On September 11, 2119, we signed the Share Transfer Agreement with hongta group. Chen Fashu bought 65.8 million shares of Yunnan Baiyao at a transfer price of RMB 33.543 per share, and the total transfer price was about RMB 2.2 billion. Chen Fashu became the second master of Yunnan Baiyao.
In February, 2111, Chen Fashu sued Yunnan Hongta to the High Court of Yunnan Province, suing hongta group for failing to report the application for equity transfer of Yunnan Baiyao, which delayed the transfer of Yunnan Baiyao for two years.
On October 7th, 2112, China National Tobacco Corporation finally gave an approval reply, rejecting the share transfer transaction on the grounds of "to ensure the preservation and appreciation of state-owned assets and prevent the loss of state-owned assets".
on July 25th, 2114, Yunnan Baiyao announced in the evening that the dispute over the equity transfer between hongta group and Chen Fashu, the second largest shareholder of the company, had been finally decided. The Supreme People's Court ruled that hongta group will return 2,217.6 million yuan of principal and interest to Chen Fashu within 11 days from the effective date of the judgment, and hongta group still holds 12.32% equity of Yunnan Baiyao. At this point, the equity dispute that lasted for nearly three and a half years ended with Chen Fashu losing the case. In order to win this lawsuit, Chen Fashu paid more than 17 million yuan in legal fees.