Author | One Lan
"My third venture was with Sun Hongbin."
"I met Lao Deng (Deng Hong) on June 7th. The person he wants to work with most in China is me. He found me through friends. We are very happy to cooperate."
Three years ago, on the day of the Lunar New Year's Day, Sun Hongbin, a real estate madman, met Deng Hong, the "exhibition king" for the first time, and after an hour of discussion, he finalized a cooperation of more than 10 billion yuan."Then we happily went to drink."
Soon, the cooperation between the two sides came to fruition one after another.
Sunac not only invested more than 15 billion yuan in Global Century and Times Global, where Deng Hong is a shareholder, and cooperated closely with real estate projects in the southwest region, but also joined hands with Deng Hong's Global Fine Wines to enter the wine business.
The sympathy when we met was like yesterday.
But now, Sun Hongbin and his Sunac are suffering the impact of the debt turmoil. What happened to the real estate business and liquor business with Deng Hong, who knew each other at first sight?
01
a little trouble
On May 29, according to the People's Court Announcement Network, due to the dispute over bill recourse, Yunnan Global Century Convention and Exhibition Tourism Development Co., Ltd., Sunac Real Estate Group Co., Ltd., Sichuan Gaobiao Construction Engineering Co., Ltd., and Global Sunac Exhibition Cultural Tourism Co., Ltd. Group Co., Ltd., etc., were brought to court by Chongqing Liangjiang New District Keyi Micro-loan Co., Ltd. (hereinafter referred to as: Chongqing Keyi).
The People's Court of Jiulongpo District, Chongqing City accepted the case, and served copies of the plaintiff's civil complaint, notice of response, notice of proof, and court summons to the defendants such as Yunnan Universal Exhibition and Sunac Group.
"Liquid Value" found that the original and defendant of the above-mentioned cases have quite a history.
The real estate company Jinke is behind Chongqing Keyi, and the defendants are Sunac Sun Hongbin and Deng Hong.
Before that, Sun Hongbin's career had encountered some troubles.
On May 12 this year, Sunac China announced that the interests of the four limited notes issued by it have been due and payable in April. As of the date of this announcement, the company has not paid the relevant amount."The Group is actively seeking to resolve the corresponding issues within a reasonable time frame through negotiation with noteholders to reach a consensus."
Going forward, on March 28, 2022, Sunac China disclosed that it will not publish the unaudited annual results for 2021, delay the holding of board meetings, and suspend trading announcements.As of now, Sunac China has not disclosed its 2021 annual results, and the company's shares have not resumed trading.
Chengdu Global Sunac Cultural Tourism Co., Ltd. (referred to as "Global Sunac"), a joint venture established by Sun Hongbin and Deng Hong, has been issued an order restricting high consumption.
"Liquid Value" learned that in August 2020, Global Sunac and Shanghai Zejie Real Estate Marketing Center signed the "Agreement", and then the two sides had disputes.
In December 2021, the court issued a judgment after the trial, supporting the claim of Shanghai Zejie Real Estate Marketing Center that Global Sunac should pay the agency sales service fee for the houses involved in the case.According to the agreed commission ratio agreed by both parties, the service fee is 65,782.99 yuan.
However, Global Sunac failed to fulfill the above legal obligations on time and received a consumption restriction order from the People's Court of Chengdu High-tech Industrial Development Zone on April 27, 2022.
The chairman of the company is Deng Hong.
02
The MICE King and the Real Estate Maniac
Sun Hongbin and Deng Hong, a real estate developer and a convention and exhibition king, each operate their own industries before the Dragon Boat Festival in 2019.
According to media reports, Deng Hong went to the sea to do business in 1986. In 1995, he returned to China with capital from the United States. He invested 1.4 billion to build the Chengdu International Convention and Exhibition Center in Chengdu, cutting into the exhibition tourism industry.
In 1999, Deng Hong invested another 150 million yuan to build the Chengdu Museum of Modern Art, which is also one of the largest art venues in Asia.Subsequently, he invested in the construction of Jiuzhai Paradise International Conference and Resort Center, Chengdu New International Convention and Exhibition Center, and Asia's largest single building Global Center.He is also known as Chengdu's "Exhibition King".
Under a series of investments, Deng Hong's wealth and fame have soared.
In 2004, Deng Hong was awarded the "Chengdu Outstanding Contribution Award" by the Chengdu Municipal Government. In 2006, Deng Hong ranked 328th in the "Forbes" list of China's richest people.
Today, Deng Hong is also the chairman of Chengdu Metropolitan Exhibition and Tourism Group, the chairman of Chengdu International Convention and Exhibition Center, Jiuzhai Paradise International Conference and Resort Center, and the chairman of Universal Fine Wine Industry Group Co., Ltd.
It is understood that Chengdu Metropolitan Exhibition and Tourism Group has formed an industry from conferences and exhibitions to tourism services based on its three major areas: Century City New International Conference and Exhibition Center, Jiuzhai Paradise International Conference and Resort Center, and Chengdu International Conference and Exhibition Center (Shawan). linkage.
In Chengdu, Sichuan, Deng Hong is quite famous and is a well-known local rich man.
However, Deng Hong has also experienced turmoil a few years ago.According to a Caixin report in 2013, Deng Hong was under investigation.
In June 2016, the shareholding of Chengdu Century City New International Convention and Exhibition Center Co., Ltd. (hereinafter referred to as "Chengdu Metropolis Exhibition Center"), a subsidiary of Chengdu Metropolitan Exhibition and Tourism Group, underwent a major change. Yunnan Urban Investment Group became the largest shareholder, and Deng Hong relegated to the second place. major shareholder.
In 2017, Yunnan Urban Investment announced that it planned to purchase 100% of its equity in Chengdu Metropolitan Exhibition Center from Yunnan Urban Investment Group, Deng Hong, etc. The transaction amount is expected to be 24 billion yuan.
However, the above transaction ended in "failure". In June 2019, Yunnan Urban Investment decided to terminate the acquisition of 100% equity of Chengdu Metropolitan Exhibition Center.In September of the same year, Yunnan Chengtou pre-disclosed the transfer of 51% equity of Times Global and Chengdu Metropolitan Exhibition Center (same as Global Century) on the Yunnan Equity Exchange.
In this year, Deng Hong and Sun Hongbin met.
"We made a decision after talking for more than an hour, and then we happily went to drink." At a later media conference, Sun Hongbin recalled his first meeting with Deng Hong.
"I don't know how to settle accounts, but Lao Deng doesn't. We are very similar. Lao Deng is more transparent, so it is very pleasant to cooperate."
On July 10, 2019, Chengdu Global Times Exhibition Tourism Development Co., Ltd. (hereinafter referred to as "Global Exhibition Tourism"), wholly-owned by Deng Hong, and Sunac Southwest Real Estate Development (Group) Co., Ltd. (hereinafter referred to as "Sunac Southwest") were jointly established The joint venture company Global Sunac.Sunac Southwest is an indirect wholly-owned subsidiary of Sunac China.
On November 27, 2019, Sunac China held a media meeting in Beijing and announced the acquisition of a 51% stake in the target companies held by Yunnan Urban Investment Group, namely Universal Century and Times Global, at a transaction price of 15.269 billion yuan.
At that time, Sunac China announced that the above-mentioned target company and its subsidiaries are mainly engaged in the development and operation of real estate projects, and a total of 18 target projects have been developed in Chengdu, Wuhan, Changsha, Kunming and other cities, including Chengdu Century City Convention and Exhibition Center, Global Center, Sancha Lake, Wuhan Guobo New City, Changsha Future City, Kunming Jinning Dawan, etc., with a total construction area of about 30.716 million square meters.
Deng Hong is the natural person shareholder of the target company acquired by Sunac China.
At the media meeting, Sunac China also announced the establishment of the Global Sunac Convention and Exhibition Culture and Tourism Group, with Deng Hong as the chairman of the company.
Two days later, Deng Hong and Sun Hongbin appeared in Yunnan together.
According to information from Yunnan.com, on November 29, 2019, the then main leaders of Yunnan Province met with Sun Hongbin, chairman of the board of directors of Sunac China, and Deng Hong, chairman of Chengdu Exhibition and Tourism Group and chairman of Global Sunac Exhibition Culture and Tourism Group, in Kunming.
03
Liquor business
While selling exhibition assets, Deng Hong started a new round of entrepreneurship. In 2017, he established Global Fine Wine Group Co., Ltd. (“Global Fine Wine”) to enter the liquor industry.
"Who could have imagined so much? At that time, I was looking for something that I could do after retirement, something simpler and more down-to-earth. Doing baijiu is doing an industry, and I personally have been in the rummy for many years, so I thought of it. I did." Deng Hong said in an interview with the media.
Global Fine Wine is mainly engaged in wine investment, production and sales, and brand operation. It is committed to creating "Chinese-style Diageo", and mainly focuses on two things: "selling good wine" and "making good wine".
At present, in the liquor sector, Universal Fine Wines has invested heavily in the establishment of three major liquor brewing bases in Chengdu (Qionglai), Luzhou, and Maotai Town, Guizhou. It has liquor brands such as Hengchang Shaofang, Chuanpai, and National Essence. Including strong flavor, sauce flavor, light flavor and so on.
Among them, the Guizhou production area is centered on the production area of Maotai Town. It is reconstructed and expanded on the basis of the original brewing base of Maotai Town 1915 Distillery and Guizhou Central Distillery Group. There are many brands such as "Cun", "Tian Rang", "1915", "Xi Pai" (Sauce Fragrance).
According to the company's official website, in the next five years, it will incubate and build more than 20 mature liquor brands in the three major bases, with an annual sales revenue of over 10 billion yuan.
In order to do a good job in the liquor business, Deng Hong pulled many friends in the circle, including Sun Hongbin.
According to the official website of Renhuai Municipal Government, on May 19, 2021, Renhuai Municipal Government and Sunac China Global Jiajiu Industry Group held the signing ceremony of the framework agreement for the construction project of Maotai-flavor liquor production base.The main leaders of Renhuai Municipal Party Committee, Sun Hongbin, Chairman of the Board of Directors of Sunac China, and Deng Hong, Chairman of Global Sunac Exhibition Culture and Tourism Group and Chairman of Global Good Wine Group, attended and witnessed the signing.
At the signing ceremony, Sun Hongbin said that Sunac will join hands with Global Fine Wines to enhance industrial supporting capabilities, promote the development of industrial clusters, and promote the high-quality economic and social development of Renhuai.
Deng Hong said that in the next four years, the Global Best Wine Group will build a new Hengchang roasting workshop, a 1915 double production base, a winery, etc. in the core area of Maotai Town, with a planned production capacity of 30,000 tons in four years. Completion within one year.
In September 2021, Global Fine Wine and Zhongyu Holding Group reached a strategic cooperation. The two parties jointly invested 100 million yuan to establish Global Fine Wine Zhongyu Wine Company, with a sales target of 60 million yuan in the first year.
In November of the same year, Universal Fine Wines joined hands with Chengdu Dehong Ju Wine Co., Ltd. to launch two new products.It is understood that Zhou Chengcheng, chairman of Dehongju, has successfully operated and promoted liquor brands such as "Jinjiannan" throughout the country, and his company has a nationwide sales network.
Deng Hong has high hopes for Hengchang Burning Workshop.In 2020 and 2021, Hengchang Burning Square will be named on the Hurun Report for two consecutive years.
In January of this year, Deng Hong said in an interview that in 2021, the revenue of Hengchang Shaofang only under Universal Fine Wines has exceeded 1.3 billion yuan and achieved profitability.And his next goal is to make the sauce wine brand Hengchang Shaofang the first tens of billions of products in the global fine wine.
Now, under the background of the emergency of old friend Sunac, it remains to be seen how Deng Hong's liquor business will go.
(Editor in charge: Han Yijia)
