He didn't finish the fourth grade of primary school and eventually became the richest man in Fujian. He is Chen Fashu, the capital hunter.

A few days ago, the battle between Wall Street retail investors and bookmakers attracted worldwide attention. In China's capital market, if it is super "scattered", it must be Chen Fashu, founder and chairman of Xinhuadu Industrial Group.

However, Chen Fashu is not as famous as Ma Yun and Ma Hua Teng, but his story is also legendary and classic.

Known as Buffett in China, he started from industry and later made great achievements in the capital market, including Zijin Mining, Yunnan Baiyao, Tsingtao Brewery, Zhong Mian in China, Longji and so on.

Born in poverty, he went from a timber merchant to a department store.

Chen Fashu was born in 196 1 for three years. His hometown is a mountain village in Anxi County, Quanzhou, Fujian Province, which is also rich in Anxi Tieguanyin. Because of his poor family, he dropped out of school before finishing the fourth grade of primary school.

1977, Chen Fashu, who was only 16 years old, went to work in the village forest farm. With his excellent self-introduction, "My name is Chen Fashu, and I'm a rich man. I'm sure to make money transporting wood", and I was successfully applied as a transport worker.

After five years of hard work, he finally walked out of the mountain and sent a batch of wood to Xiamen, the provincial capital, at 1982. Only then did we find out the price difference of timber trading, so we started to sell timber at the age of 2 1, and the first business earned a "huge sum" of 1000 yuan, which was equivalent to a worker's salary for one year at that time, and it was 1988 in four years.

But he was not satisfied, so he mortgaged the house, bought a three-wheeled motorcycle instead of walking, and pulled goods for a small shop with his two younger brothers.

Later, this small shop closed down because of poor management. Chen Fashu seized the opportunity to buy this store and named it Huadu Department Store. From 65438 to 0995, Chen Fashu moved Huadu Department Store from Xiamen to Dongjiekou Scenic Resort Scenic Area, the most prosperous city in Fuzhou, and achieved great success with its excellent management mind.

1997, due to the different management concepts of brothers, like New Hope Group in Liu Yonghao, Sichuan, Chen Fashu set up another portal and set up Xinhuadu Department Store. Later, its business gradually expanded to construction machinery and real estate on the basis of the main business of department stores, resulting in the birth of Xinhuadu Industrial Group Co., Ltd., which was finally listed on the Shenzhen Stock Exchange on July 3, 2008.

That year, he was just 47 years old and in his prime. In fact, before he went public, he owned 32 supermarkets in 2007, with assets of nearly 65.438+0.3 billion yuan and annual net profit of over 65.438+0.3 billion yuan.

Zijin Mining's net worth of 65.438+055 billion made him the richest man in Fujian.

What really made Chen Fashu's life suddenly enlightened was that Xinhuadu Group took a stake in Zijin Mining early before listing. As early as 1997, Chen Fashu and his fellow countryman Ke Xiping bought a batch of construction machinery and equipment at a high price of 68 million yuan, hoping to make a profit by changing hands.

But I didn't expect the intermediary to raise the market price by 30 million from the beginning and couldn't sell it, so I simply set up an engineering company to specialize in small projects. By chance, I met Chen Jinghe, then general manager of Zijin Mining.

At that time, Zijin Mining was still a small mine, and many local businessmen were not optimistic about its development prospects after inspecting Zijin Mountain in the mountains.

However, with its own engineering company, Chen Fashu undertook the earthwork project of Zijin Mining, and had a strong interest and expectation for this undeveloped gold mine.

In 2000, the share reform of Zijin Mining encouraged employees of local state-owned enterprises and institutions to subscribe, but few people paid attention to it. Xinhuadu Group also had doubts, but in the end Chen Fashu decided to take a gamble.

He used Xinhuadu Group and other three affiliated companies to invest 33.59 million yuan, holding 20 19%, of which Xinhuadu Group alone holds Zijin Mining17.29 million shares, accounting for 18.2%.

Zijin Mining was listed in Hong Kong in 2003, and its share capital increased by 10 times. In April 2008, Zijin Mining returned to the A-share market. Chen Fashu and Xinhuadu Group hold 265,438+78 million shares of Zijin Mining. According to the issue price of 7 13 yuan at that time, the market value was155.29 million yuan.

In the past eight years, the investment has increased 460 times from 33.59 million yuan to 654.38+05.52 billion yuan. With the listing of Zijin Mining and Xinhuadu Group, Chen Fashu ranked 29th in Hurun Report with a net worth of 654.38+08 billion, becoming the richest man in Fujian. In the 2009 Forbes China Rich List, Chen Fashu ranked 1 1 with a personal wealth of 210.85 billion yuan, making him the richest man in Fujian Province for the second time.

Tsingtao Brewery cashed in Zijin Mining.

Chen Fashu, who tasted the sweetness in the capital market, began his long-sleeved dancing and skillful operation.

As early as April 2008, before Xinhuadu Group went public, Chen Fashu hired Tang Jun, a working emperor, to join Xinhuadu Group at a sky-high price of 654.38+0 billion yuan as the president and CEO.

At that time, Tang Jun, like Wolong, made a series of grand blueprints for his unscrupulous boss: it took three to five years to promote the listing of his five companies, which increased from 65.438+06 billion yuan to 65.438+00 billion yuan in five years, helping Chen Fashu rank among the top three in the rich list.

In fact, Tang Jun also made great achievements after he entered Xinhuadu Group, helping Xinhuadu Group to successfully go public and participate in Tsingtao Brewery and Yunnan Baiyao.

Unfortunately, in 20 10, Tang Jun was targeted by professional counterfeiters, and the academic fraud broke out. The city gate caught fire, which affected the fish in the pool, and the fire of public opinion also reached Dong Jiahe's boss, Chen Fashu. In the end, this cooperation had no choice but to break up, which is another story.

Speaking of Tsingtao Brewery, Chen Fashu is the role of this high-end network. Chen Fashu met his classmate Jin Zhiguo, the chairman of Tsingtao Brewery, when he was studying EMBA in Central Europe in his early years. It was this opportunity, and after Tang Jun joined Xinhuadu Group, that started the cooperation journey between the two sides.

On May 8, 2009, Chen Fashu spent 65.438+0.6 billion yuan to acquire 7% shares of Tsingtao Brewery, totaling 96.5438+0.64 million shares.

And this/kloc-0.6 billion yuan ammunition, a considerable part of it comes from the cash support of Zijin Mining, a cash cow. According to the data, from April 27th to May 22nd, 2009, Chen Fashu sold 65.438+0.47 billion shares of Zijin Mining through the secondary market, and cashed in 65.438+0.3 billion yuan at an average price of 8.84 yuan per share.

Yunnan Baiyao aims to win the nine-year long-distance race.

After drinking this cup of Tsingtao beer in the north, Chen Fashu has long been eyeing Baiyun Baiyao in the southwest border. Chen Fashu became interested in Yunnan Baiyao as early as 2007, because he met Wang Minghui, chairman of Yunnan Baiyao, while studying in cheung kong graduate school of business MBA.

In 2009, hongta group, the second largest shareholder of Yunnan Baiyao, transferred the equity of Yunnan Baiyao 12.32% due to his focus on his main business. Chen Fashu seized the opportunity and lavished 2.2 billion yuan (cash from Zijin Mining) to pay hongta group in one lump sum. However, due to fear of the loss of state-owned assets, the State-owned Assets Supervision and Administration Commission of Yunnan finally refused to approve it, and the equity was delayed for two years.

Chen Fashu had no choice but to file a lawsuit and finally appealed to the Supreme People's Court. It was not until 20 14 that hongta group returned the principal of 2.2 billion yuan and the interest of 7.6 million yuan.

Several lawsuits cost 34 million yuan, which earned Chen Fashu the nickname of Chen Qiuju.

20 15, Chen Fashu still won't die. By buying a total of 4.25% shares of Yunnan Baiyao in the secondary market, the expenditure cost was nearly 3.3 billion yuan, and finally he successfully became one of the top ten shareholders of Yunnan Baiyao.

After 20 16, Yunnan Baiyao seized the opportunity of mixed reform and defeated heavyweight competitors such as Ali and Ping An, and finally became the second largest shareholder of Yunnan Baiyao.

According to the annual report of Yunnan Baiyao in the first half of 2020, among the top ten shareholders of Yunnan Baiyao, Xinhuadu Group, owned by Chen Fashu, the former richest man in Fujian, holds 24.37%, and Chen Fashu holds 0.7% personally. Yunnan SASAC holds 25. 14% of the shares. After nine years of persistent pursuit, Chen Fashu finally succeeded in winning Yunnan Baiyao.

Longji shares and China's worthless investment model earned billions.

In 2020, Longji shares, a leading photovoltaic company, and China Zhong Mian, a duty-free concept stock, increased dramatically, setting dark horse records of 27 1.33% and 2 17.54% respectively. Chen Fashu is a model of value investment in the operation of these two stocks.

He stepped on the drum of the stock price crash, bought a lot of bargains, added positions in batches, and chose to take profits in batches at the high point of the stage, thus realizing what Buffett said: "Others are greedy when they are afraid, and others are afraid when they are greedy."

Take Longji as an example. As early as May 3, 20654381day, the National Development and Reform Commission and other three departments issued the Notice on photovoltaic power generation in 20 18. The news about controlling the scale of photovoltaic power generation and reducing electricity price subsidies has caused great bad news to the industry. Longji shares, as a leading photovoltaic company, fell all the way from 24 yuan, reaching 65,438+at the end of August.

At this time, Chen Fashu made a decisive move in the third quarter of 2065438+2008, and bought 49.3728 million shares. Subsequently, with the gradual rebound of the stock market, he increased his holdings several times, and it has increased to 65438+44 million shares in the first quarter of 2020.

From the second quarter of 2020, Longji shares began to rise sharply, reaching a peak of 83.27 yuan in the third quarter, closing at 92.20 yuan in the fourth quarter, and soaring to 125 yuan in 20021+0, which was 10 times the third quarter low of 20 18.

After the stock price hit record highs, Chen Fashu began to lighten its positions by 26.86 million shares and 37.4 million shares in the second and third quarters of 2020, with a cash profit of nearly 3 billion yuan. Coupled with the previous profits, the accumulated investment income in the past two years has exceeded 654.38+000 billion.

Another representative work of Chen Fashu is China Zhong Mian.

In the first quarter of 2020, affected by the epidemic, domestic tourism was depressed. China Zhong Mian lost more than 654.38 billion yuan in the first quarter, and its share price once fell by 30% to a low of 66.50 yuan.

It was in this gloomy mood that Chen Fashu boldly made a bargain. In the first quarter of the same year, * * * bought 1, 448+0,000 shares.

Shortly after the purchase, China Zhong Mian began to rebound sharply in the second quarter of 2020, driven by favorable policies such as tax exemption in Hainan Island. By the end of 2020, it has reached a record high of 282.45 yuan, and reached a new high of 32 1.86 yuan in June this year. According to the preliminary estimate of positions held in the third quarter of last year, the floating profit has properly exceeded 4 billion yuan and earned a lot of money.

In addition, Chen Fashu is the top ten shareholder of Bichuang Technology, Jiuxin New Materials and Henghe Co., Ltd., with the same outstanding performance.

Chen Fashu started from industry, but the main business of Xinhuadu Group is not eye-catching. Today, Chen Fashu has become an investor and a capital hunter. We expect him to make more masterpieces in the capital market in the future.