Any thing as a miracle

 Are often difficult to sustain, because he comes from a course beyond the

conventional. In early 2008, the U.S. . built mainly for the textile and

garment, equity investment and real estate investment partner of the three

carriages, broken wings the same time ... ...

Younger in the capital markets put on the maximum number of additional

fertilizer coat, just the body skeleton is still thin, although the injection

of equity investments and real estate for the fastest fertility factor,

unfortunately, is more fattening than fat, muscle

haze of Shanghai for nearly a month finally revealed rare bright, the night

is still bustling Nanjing Road, the neon colors make people forget the long

look up at the clear night sky.

Nanjing East Road, No. 328,

a heavy local accent of the clerk of ordinary life to men in suits and ties

in front of the two gestures.

the other end of the hall, several middle-aged are listed gestures spring.

Nanjing Lu Manke Washington Square East, Younger flagship store.

and 328 hundred meters away, however, entered in 2000, this flagship store,

but 328 is far less conspicuous.

into the lobby, if not outside the upstairs Youngor brand, maybe really think

this is a very common clothing stores only, and the general store is almost

identical.

empty hall in Shanghai only two middle-aged man wearing a suit in the trial,

several four-year-old waiter scattered in several corners, from time to time

through the hall, people are just close to the channel Special District

occasionally stop attention, this crossing is the gateway to the second floor

of a hundred letters footwear must pass through.

the clock at this time also refers to Sunday 19:30.

Some middle-aged female staff reporter warily.

caught in the Younger junction between the two stores, Landmark next to a

huge monopoly Metersbonwe Sheng Dena commercial field to 1 to 5 layers all

four clothing stores, became the fifth floor of the gallery for people to

visit the clothing, the clothing Evolution since ancient times, the peculiar

ethnic clothing, like a catwalk as your eye in the dim light in the

excavations and cultural highlights.

steady stream of people, all kinds of flamboyant costumes, from time to time

inclusion of foreign young people, one of the young family, so that the

younger age groups targeted fashion industry is quite popular rookie Wang,

and Jian Zhou helm Metersbonwe has become the new darling of the capital

market in 2008.

These are two completely different clothing brand positioning, Youngor high-

end business, the young Hyun Metersbonwe family. Younger Hall Marketplace,

middle-aged business people either directly take leave clothes on the code,

or a brief try, pay credit card; Metersbonwe four-story hall, in pairs of

young people keep Also try wearing a flamboyant costumes, from clothing to

shoes and bags with.

head of two similar but there are many different places. Lee, such - an

educated youth in Shanghai more than 30 years steeped clothing, Zhou Jian

little tailor from the village to today's has a reputation in the stock

market the housing market, one into the clothing is famous in the clothing;

one in about 2007 became Man of the capital sector, one in 2008 to become

China's A shares cattle. But, Zhou Jian-body garment tags still evident, and

Lee, such was the huge body of financial assets and real estate to cover the

clothing label has some complex and ambiguous.

plus fat clothes, skinny body

well-known financial writer Wu Xiaobo pointed out: We never believe that the

development of things is poor, there is a cutting edge and defects. head,

Such dramatic changes in the LI. All this from the Younger in the capital

markets more than 200 million of the great victories.

Younger success in the apparel industry, fame in the capital market, although

it was later recognized with Lee, such is indeed the capital market, mostly

in the unexpected harvest the one hand, many investors because of the

government's feelings and for the

many Youngor later That time, the wave of state-owned enterprises are

entering the second wave of reform, as business cards, Ningbo Younger

industrial duty-bound to assume corresponding responsibilities of leading

enterprises, therefore, was on the verge of bankruptcy and the state-owned

enterprises should be broad groups will be delivered Branch Technology the

Younger's. In 1997, Ningbo Commercial bank restructuring, the lead in the

city, the Younger as the strength of the shareholders involved. CITIC Bank

and the investment is even more fortuitous color, Younger 1998 after the

listing in the hands of Lee, such planning to look for money to new

investment projects, because of the interest in the securities industry,

coupled with good shareholder of CITIC Securities background, so the flow

will income.

transition of the Chinese market is always a miracle and constantly surprises

producer, even the depths of one of the authorities who would not think of

yesterday, today and tomorrow's turned upside down. When China's capital

market experienced a suffocating A-share market shot up all the way from the

beginning 1000, 2007 crossed the 6,000 points in one fell swoop the broader

market, millions of Chinese investors in an instant 冰火两重天 experienced

the feeling of many people recall the great scene at that time sigh.

the Younger made a decade ago, a careless, this time has also been revealing

the stunning performance. January 2007, extensive land shares in Shenzhen SME

Board, in May rose to a high of 16.85 yuan first,UGG boots, Younger's holding

cost is 1.52 yuan. July 19, 2007, listed Bank of Ningbo, becoming the first

commercial bank listed on the stock less than 10-day gain to more than 200%,

while investment costs, but the year Youngor 1.01 yuan per share. CITIC

Securities is

Youngor masterpiece. The time of entry, the holding cost Youngor 1.7 yuan,

3.2 billion of total investment cost, however, in October 2007, CITIC

Securities had the highest rise to a staggering 116.55 yuan, to close at

105.93 yuan, the book Younger 62.31 times earnings enlarged. Even in the

broader market today, more than 2000 points (as of March 20), CITIC

Securities to close at 23.14 yuan, Younger book also magnified 13.61 times

earnings.

Thus, Younger had a windfall profits in 2007, and in this year's earnings,

the Younger announced that its operating profit rose 259.87% over last year.

Huge enlarged with sufficient wealth to Lee, such opportunities to display

their arms and legs, from which he saw as an industry if the investment can

do, then the proceeds will be doing Industries can not match. So, Lee, such

textile and apparel business will be handed over to Li Rugang, the real

estate business to the Chiang group, his Cold with her daughter Lee began to

focus on equity investment in the poor, this has always been low-key head of

the people call for Project

2007 China's stock market is not only crazy, and also of the crazy real

estate market began then as house prices in real time if the stock market

line graph K described overdone it, but with Unit price may be accurate.

Needless to say the first line of coastal cities, is deep in southwest

Chongqing Municipality, the end of 2006 house prices are still hovering

around 3,000 yuan, but by mid-2007, Jiangbei District, has reached 6000 yuan.

seemingly prosperous, house prices, In early 2007, bought in Ningbo Youngor

Huachen North 9, block, floor price exceeds the reserve price to sell nearly

4,UGG bailey button,000 yuan, or even higher than the surrounding existing

real estate prices, per mu land nearly 700 million. July 2007, Younger became

once again In Hangzhou, the starting price of 800 million yuan higher than

the floor price 15719 yuan / square meter price auction record price of land

in Hangzhou. February 2008, the price of Younger to 979,722,800 yuan Road,

west of the northern suburb of Ningbo competing land to floor price 13102

yuan / square meter to obtain Ningbo new

in equity investment, the biggest was undoubtedly the 3.588 billion yuan

float reverberates Hai Tong Securities, cost about 17 yuan per share.

Younger in 2008 accordance with the interim financial statements, investment

income accounted for 54% of the total profits (70% in 2007), textiles and

clothing is 19%, 27% of real estate.

Younger in the capital markets put on the maximum number of additional

fertilizer coat, but the body's skeleton is still thin, although the

injection of equity investments and real estate for the fastest fertility

factor, unfortunately, by More fat is fat rather than muscle.

can not bear the weight of capital

So far one of the risk control Lee, such as clothing can do so much at home

as the.

any thing as a miracle, are often difficult to sustain, because he comes from

a journey beyond the conventional. In early 2008, the U.S. . Lee, such

structures as the textile and garments, equity investment and real estate

investment partner of the three carriages, broken wings the same time.

shareholder meeting in January, and Lee, such investment in 2008, publicly

acknowledged mistakes Younger, in which the body in the Hai Tong Securities

lost more than 1 million. Perhaps, the situation is more serious than Lee,

such said much of the action from the Younger will be able to eruption.

December 3, 2008, Younger issued a proclamation declaring hired Hai Kai Shek

Youngor Investment Management Limited provides professional investment

advisory services. Kay Stone Investment was established in October 2008, the

legal representative of Lee, such is its management team by the Chen Jiwu

(former vice president of Wells Fargo funds), Li Wen-chung (fund managers)

and a number of industry structure, and the actual charge Lee is the daughter

of Lee, such cold poor. A securities on the , was distributed in the

holdings, the group has from one hundred million billion shares into shares,

holding cost changes to 17.89 yuan, as of March 20 closing price of Haitong

12.73 yuan, the Fukui Younger reached 1.032 billion yuan. Stuck with a lot of

money real estate market, it is understood before the Younger won the multi-

block lots are in an undeveloped state, the housing market short term is

difficult to see the rise of space, I am afraid that the financial pressure

is not small, otherwise, Ya Gore will not be such a downturn in the stock

market, continue to sell their best assets, the current CITIC Securities to

return the funds. Not long ago, Younger has announced the release of 20

billion corporate bonds. Third quarter results from 2008, Younger was 1.6849

billion yuan book-monetary assets, beginning balance of 2.4928 billion yuan.

And its short-term borrowings of up to 7.4373 billion yuan, early last year,

this figure was only 5.9051 billion yuan. Asset-liability ratio also on the

rise, 2007 was 53.11% of its assets and liabilities, while the 2008 third

quarter increased to 62.7%. Many people in the industry said that these funds

have proven Youngor pressure.

Canton industrialist insurmountable?

Well at this stage and abroad is also true. Lenovo and universal. made to his

character is a good listener, but it's prudent to accept hide. only the good

luck has not always sided with him. China's stock market and housing market

bubbles filled with bad, but the biggest threat to the Chinese economy is the

deterioration of the environment industry. It is this deterioration leading

industrialists have to join the stock market and housing market. The

financial crisis,Discount UGG boots, the advantages of diversification was

confirmed once again, but for Lee, such as the expected structure of the

troika, in this crisis should have a wide range of results reveals,UGG boots

cheap, however, contrary to expectations, such pluralism has become a Today,

the biggest drag on Younger. has accounted for 70% of total profits, reported

a 2008 mid-term, equity investment income accounted for 54% of total profits.

But according to the general international practice, in order to spread the

field of high-risk financial investment and too much uncertainty, the

proportion of financial investment are to be compressed to a wide range of

GE's most successful example, the proportion of the annual financial return

is always maintained at 40% or less.

world, five hundred, and GE on the road as very successful in the pluralistic

Eaton James W. McGill, president, Asia Pacific, told the regional diversity,

while also depending on the business have different effects in the economic

cycle, the time established by the diversification of investment.

Some of the main industry far. sum of $ 120,000,000 for acquisition, but also

with the Chinese garment industry's largest overseas acquisition. KWD in Sri

Lanka, the Philippines and mainland China and Hong Kong has 14 production

bases, and the most favorite to Youngor its U.S. design capabilities with its

own department stores, including dozens of sales network and strong logistics

system. For eager to open the door to the international high-end market

Younger, this is a good deal.

revitalization of the views of the main business practices. Indeed, Lee, such

has admitted, compared with the emerging economies of India, Younger

integration capabilities of KWD concerns.

fears may not just that, at least a deeper capital market will also be

considered. Today, the Younger's investment and industrial structure is still

belonging to the same group in parallel, with a listed company, are

constrained. Younger split on the financial investment business I am afraid

it is imperative, Younger middle of last year has also split the real estate

business came, in order to build a new financing platform for real estate,

but so far no go,

Lee, such has said that his 60-year-old to retire, that is 2011, and now the

Younger from 1979 educated youth who work in garment factories youth

workshops reached its peak. Lee, such a miracle indeed, at least in the past

three years, people have the equivalent of a businessman Younger myth.

However, memorable encounters, they believe it is fate, they always hope

every time yun so high, chances to win every time, finally, tend to wither in

all the glory in their own aura. the book is sitting on more than 200 million

fortune when he said, hoping to leave for the successor to the 200 million

fortune, because it does not become a burden on future generations, on the

contrary will be the key to open the door industry. Today, however, I am

afraid that this key can not unlock had become a burden. Nobel laureate in

economics Joseph Stiglitz have used such language to describe China - Younger

is also central to the river, but also to reach the other side of the

location of choice when the time Lee, such a mind does not know whether the

phrase Matsushita will remember the classic dictum: