Xu Rongmao once said that he wanted to give Xu Shitan a living method for ordinary people, but at the same time he mobilized the whole family to pave the way for his sons inheritance.
At that time, Xu Shitans sister Xu Weiwei joined Shimao real estate after graduation, and later became the president of the company. Under the leadership of Xu Weiwei, Shimao shares has rapidly changed from four projects in hand to a leading commercial real estate company spanning 17 cities and holding more than 20 projects.
Xu Weiwei, who has made outstanding achievements, left Shimao real estate in the end. It is speculated that she is making way for her younger brother Xu Shitan to take over.
But Xu Shitan, who just walked out of the ivory tower, did not enter Shimao directly. Instead, he found himself a hard job as a real estate agent. In those days, door-to-door sales promotion, he made one or two hundred phone calls a day, accompanied customers to see the house for dozens of times and then was rejected.
After three years of dormancy at the grassroots level, Xu Shitan finally showed its light and became famous through the first battle of Shanghai Shimao Riverside Garden.
In 2001, Xu Shitan first initiated the Global Limited sales system of Shimao Riverside Garden and the unprecedented scale of overseas sales system in the domestic real estate industry. Then, he invited Liang Chaowei to speak for the product image, and then launched a series of activities such as global online auction of Shimao Riverside Garden top duplex luxury house to create global sales.
In just seven days, Binjiang garden achieved a sales performance of NT $1.2 billion in Taiwan and more than US $300 million in the United States. Since then, Binjiang garden has won the first place in the sales amount of residential projects in Shanghai for four consecutive years.
Three years later, Xu Shitan joined the board of directors of Shimao real estate as an executive director. In 2011, his father Xu Rongmao retired, and Xu Shitan, 34, actually took over the company.
Since then, whether it is a private walk between father and son or in front of the media, Xu Rongmao subconsciously distanced himself from the public and gave his son the right to decide and speak.
After taking over Shimao, Xu Shitan ushered in a real crisis.
In that year, the State Council launched eight real estate regulation measures, and the whole industry was facing unprecedented challenges. In 2010 and 2011, Shimaos annual sales remained at 30 billion yuan, which failed to achieve the set target for two years. Some of Shimaos old ministers chose to leave. Shimao and Xu Shitan are facing challenges and challenges.
After Shimao fell into a low ebb, Xu Shitan quickly led an internal reform, formulated a rapid de marketing strategy, shortened the management radius, and strengthened the construction of talent team. He also invited Cai Xuemei, a professional manager of Longhu, to take full charge of the marketing work.
The effect of the reform was immediate. Cai Xuemei helped Xu Shitan fight a beautiful battle. In 2012, Shimao exceeded half of the sales target, and ranked among the top ten real estate enterprises in China for three consecutive years, becoming the most popular candidate for 100 billion real estate enterprises.
Xu Shitan launched the second reform and pressed the pause key of expansion scale, focusing on profits, payment collection and quality. However, this reform has not been as effective as the first time. Since 2015, Shimao has fallen out of the top 10 in the list of real estate enterprises. Even in 2016, when the market is booming, Shimaos pace is still tepid, and it is pushed to the second echelon by the latecomers.
Xu Shitan regards himself as a person who pursues the leading position. Under the gentle appearance, Xu Shitans heart is full of desire to win. Cai Xuemei also once commented on Xu Shitan: xushitan is a very competitive man in his heart. As long as he is determined, he should do his best. He is not as indifferent as the outside world.
The low point of these years is undoubtedly the sword of Damocles hanging over his head. Returning to the top ten is like an invisible hoop curse tied to the head of Xu Shitan.
After the rectification, Shimao finally entered the 100 billion camp in 2017, and returned to scale track again in 2018. At that time, Xu Shitan set a target of 210 billion yuan in 2019, and firmly believed that we can do more on the 210 billion yuan.
As the industry accelerates into the second half, Shimao is no longer satisfied with big fish eat small fish, but moves towards big fish eating big fish, striving to become an exquisite and all-round player.
After taking over Shimao, Xu Shitan walked on the road of merger and acquisition, and became addicted to knight in white.
Xu Shitan once said that more than 70% of the land reserves of Shimao real estate will come from M & A in 2019. After taking over Shimao, Xu Shitan began to make a bold merger and acquisition.
In 2019, Taihe had to sell projects to survive because of the fracture of its capital chain. Xuhui was listed in the list of suspending the bond issuance business in the open market because it took too much land. Shimao, under the leadership of Xu Shitan, the new leader, rushed on the road of M & A and made a lot of money in the M & a market.
In March, Xu Shitan acquired part of the equity of seven projects under Taihe and Wantong; in April, Xu Shitan acquired 51% equity of Mingfas subsidiary, five plots of land under Kaicheng, 49% equity of one project under Taihe and several creditors rights, with a total cost of 4.6 billion yuan; in May, Xu Shitan acquired some equity of three project companies under Taihe, with a total cost of 3.97 billion yuan; in June, Xu Shitan sold out Yuetai shares, with 7.2 billion yuan, received part of the equity of seven projects.
In just 80 days from the end of March to the beginning of June in 2019, Shimao invested 20 billion yuan to sweep 18 projects. Guangdong, Thailand and Taihe are big sellers. At the end of the year, Shimao extended its acquisition hand to Fusheng group, and upgraded from previous project acquisition to equity acquisition.
At the beginning of this year, Shimao Fusheng held a cooperation conference, and then the three executive directors of Fusheng left the company and the senior executives changed their positions. Xu Younong, LV Yi and other backbone members of Shimao took their place. Although it is called cooperation, Shimao has long been aiming at Fushengs 100 billion local reserves, and it is no surprise to eat Fusheng.
The first is safety, the second is speed, and the third is cost-effective. Xu Shitan said of M & A experience, affected by the epidemic this year, large real estate enterprises have sufficient liquidity, and small real estate enterprises are more difficult. We will have greater opportunities, but we will also have stricter requirements for projects.
In addition to M & A, Xu Shitan for the first time named Shimao Groups diversified business development model as big aircraft strategy: real estate business as the main body, hotel, property, commerce, entertainment and other businesses as two wings, and high-tech, medical, pension and financial services as the tail of the balance. Based on this, Shimao real estate was officially renamed as Shimao Group Holding Co., Ltd.
In 2019, the revenue of Shimao Hotel, commercial entertainment and property management companies totaled 6.5 billion yuan, a year-on-year increase of 46%, and the target completion rate reached 105%. As for this years target, Xu Shitan said that Shimaos diversified business sector will still hit the target of $9.3 billion, and Shimao services has submitted its prospectus to the Hong Kong stock exchange. Xu Shitans ambition to expand cant be hidden. Looking forward to 2020, he called out to directly hit the sales target of 300 billion yuan in 2020. In the eyes of Xu Shitan, this new target is only a slightly conservative number. If Shimao wants to grow rapidly, the growth rate should be greater than the average growth rate of the top 10 and top 20 industries. Xu Shitans ambition and self-confidence are beyond words. His father, Xu Rongmao, once taught Xu Shitan how to fly. Now Xu Shitan flies Shimaos big plane alone across the mountains and oceans. Source: interface news Author: Tao Ting, editor in charge: Zhang Mei_ NF2100
In 2019, the revenue of Shimao Hotel, commercial entertainment and property management companies totaled 6.5 billion yuan, a year-on-year increase of 46%, and the target completion rate reached 105%. As for this years target, Xu Shitan said that Shimaos diversified business sector will still hit the target of $9.3 billion, and Shimao services has submitted its prospectus to the Hong Kong stock exchange.
Xu Shitans ambition to expand cant be hidden. Looking forward to 2020, he called out to directly hit the sales target of 300 billion yuan in 2020. In the eyes of Xu Shitan, this new target is only a slightly conservative number. If Shimao wants to grow rapidly, the growth rate should be greater than the average growth rate of the top 10 and top 20 industries. Xu Shitans ambition and self-confidence are beyond words.
His father, Xu Rongmao, once taught Xu Shitan how to fly. Now Xu Shitan flies Shimaos big plane alone across the mountains and oceans.