Lawyer Tian
When Macalline’s A-shares were listed in 2018, the stock price was once as high as 24 yuan, with a valuation of nearly 100 billion yuan, which also made Che Jianxing’s wealth exceed 50 billion yuan in one fell swoop.
Macalline can be described as a lever for success and a lever for failure. After the success of the furnishing industry, it hopes to continue to expand the scale through the linkage of furnishing and real estate. However, the real estate industry has encountered strong supervision. Even giants such as Evergrande have suddenly fallen. Naturally, Macalline is not immune to the liquidity crisis.
Obviously, Macalline’s sale of assets is no longer enough to repay the debt. In the past few years, it has sold part of the equity in logistics, property and real estate subsidiaries, but it still has not turned the tide. Now Macalline’s controlling shareholder, Red Star Macalline Holdings Group’s Ownership will change hands, and Che Jianxing currently holds 92% of the shares of the holding group, which means that this rich man may have to transfer a large proportion of his shares, which means he is completely out of the game.
China’s commercial history will add another well-known failure case.
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