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 a year of hard work, Xu Shitan joined Shimao Group and was responsible for project sales and other related matters. In 2000, Xu Shitan became the sales director and Shimao entered Shanghai.
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.
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 this battle, the doubts about Xu Shitan gradually subsided. He also continued to write his own dream of Shimao, hoping to cultivate Shimao into an all-round player with balanced development. Under the main force of Xu Shitan, minimall, which is based on serving community owners, was born, which solved the offline pain point of instant service.
However, the highlight did not last long. Since 2015, Xu Shitan once again embarked on the thorny road, and Cai Xuemei, who helped Xu Shitan win the battle, also left.
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.
He led Shimao to do it. Xu Shitan, who took over Shimao for a year, presented a satisfactory report card. In 2019, Shimaos sales reached 260 billion yuan, with an increase of nearly 50%, making Shimao the ninth place.
Ive been waiting for a chance for three years. I must take back what I have lost After waiting for three years, Xu Shitan finally got back what he had lost.
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 the performance report of 2019, Shimao has added 30.92 million square meters of new land reserves, nearly half of the total, and 67% of these new land reserves come from mergers and acquisitions. Roughly speaking, Shimao announced nearly 20 acquisitions last year, about once a month on average.
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.
After the establishment of Shimao Fusheng new platform, it is expected to achieve the sales target of 30 billion yuan this year, and gradually increase it to 50 billion yuan or even 100 billion yuan in the future. The rights and interests of Shimao Strait company under LV Yis charge are all counted.
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
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.