Core Insights - The article discusses the dramatic fall of Che Jianxin, the founder of Red Star Macalline, from being a billionaire to facing significant debt and legal issues within a span of four years [1][4][17]. Group 1: Company Background - Che Jianxin became the richest person in Changzhou in 2020 with a net worth of 43 billion yuan, largely due to the success of Red Star Macalline, which had total assets exceeding 260 billion yuan at its peak [1][3][29]. - Red Star Macalline was the first home furnishing company to be listed on both the Hong Kong and A-share markets, achieving significant revenue growth and market dominance in the home furnishing sector [5][29]. Group 2: Business Decisions and Consequences - In 2018, Che made a controversial decision to invest 180 billion yuan in acquiring land for real estate development, despite warnings from industry experts about the impending downturn in the real estate market [4][10][12]. - By 2020, the real estate market began to decline, leading to Red Star Macalline's total liabilities reaching 196.6 billion yuan, with a debt ratio of 73.4% [4][10][14]. Group 3: Financial Struggles - The company's aggressive land purchases resulted in a critical financial situation, forcing Che to sell significant stakes in his real estate ventures to cover debts [14][16]. - In 2023, Red Star Macalline reported its first annual loss, with a deficit of 2.41 billion yuan, while its second-largest shareholder faced bankruptcy restructuring due to debt issues [33][36]. Group 4: Market Position and Competition - Following the decline of Red Star Macalline, its competitor, Juran Home, surpassed it in revenue, marking a significant shift in the home furnishing industry landscape [36][38]. - The article highlights the challenges faced by both Red Star Macalline and Juran Home amid a broader downturn in the real estate and home furnishing sectors, emphasizing the difficulties of industry transformation [45][47].
又一个首富,被房地产击垮,7家法院排队讨账
Sou Hu Cai Jing·2025-05-27 04:19