铜价暴涨，曾经比华为腾讯还猛的铜王，却只剩凄凉

Core Viewpoint - The global copper market has entered a phase of high demand, leading to rising copper prices, benefiting companies like Zijin Mining, Jiangxi Copper, and Luoyang Molybdenum. However, the former "Copper King," Wang Wenyin and his Zhengwei Group, are facing severe financial difficulties, including debt and legal issues, marking a stark contrast to their previous success [1]. Group 1: Debt Crisis - Zhengwei Group, despite its past glory, has been embroiled in debt issues, with over 80 lawsuits since 2022 involving amounts exceeding 10 billion yuan [5][18]. - The company was listed as a dishonest executor by a court due to a 4.362 million yuan dispute, leading to multiple asset auctions and operational halts [5][18]. - Wang Wenyin and his wife have both been included in the list of dishonest executors, further complicating the group's financial situation [5]. Group 2: Company Background - Zhengwei Group, founded by Wang Wenyin, achieved significant milestones, including over 720 billion yuan in revenue in 2022, ranking fourth among China's private enterprises [3][5]. - The company has substantial copper reserves, claiming to control approximately 4.29% of global copper reserves and one-third of China's reserves [3][5]. - Wang Wenyin's entrepreneurial journey began in 1995, leading to the establishment of Zhengwei Group, which later became a major player in the copper industry [7][8]. Group 3: Historical Successes - Wang Wenyin capitalized on crises, such as the 1997 Asian financial crisis and the 2003 SARS outbreak, to expand Zhengwei Group's operations and acquire copper resources [10][11]. - The company thrived during the 2008 financial crisis by acquiring copper processing firms in the U.S. and Europe, establishing a global presence [11]. - Zhengwei Group's growth was marked by strategic investments and acquisitions, positioning it as a leader in the copper industry [11]. Group 4: Recent Developments - Following the peak of its success, Zhengwei Group began to face challenges, including a downturn in traditional copper-related industries and failed investments in new sectors like semiconductors [16][18]. - Many of Zhengwei's industrial parks have stalled, with reports indicating that some facilities are now abandoned or underutilized [16]. - The group's significant investments in Evergrande have resulted in substantial losses, compounding its financial troubles [17][18].