Core Insights - The article highlights the significant real estate auction in Shanghai, particularly focusing on the XH-02(TPL) unit 051-11 land parcel in Xuhui District, which has set a record for high starting prices in the region [1] - The land parcel, previously the site of Shanghai Jiao Tong University's Buxue Building, has a floor area ratio of 1.3 and a saleable residential area of approximately 5,000 square meters, with a starting price of 16.36 million yuan per square meter [1] - The auction attracted three bidders, including established players China Overseas Land & Investment and a joint venture of China Merchants and Xuhui Real Estate, alongside a newcomer, a private enterprise led by Ye Huabiao [1][2] Company Background - Ye Huabiao, the controlling shareholder of the new private enterprise, is a low-profile second-generation entrepreneur from Zhejiang, known for his family-owned company, Yifeng Group, which specializes in automotive molds and parts [2] - Yifeng Group has become a significant player in the automotive industry, supplying major clients such as Shanghai Volkswagen and BMW, and has expanded its manufacturing bases across more than ten cities in China [5] Investment Strategy - Ye Huabiao has historically been cautious about entering the real estate sector, emphasizing the importance of focusing on familiar industries [7] - Recently, he has shifted his focus towards investments in various sectors, including automotive and real estate, as he has delegated his automotive business to his daughters [8][9] - The daughters, Ye Shuqing and Ye Shuxiang, are actively expanding the family business into real estate, with several new companies established under the "Qixiang" brand, indicating a strategic diversification of the family’s business portfolio [9][10]