Chapter 62 follow up story

Sun Hongbin has always wanted to stand up again, and he has a great possibility of success because he is in a very good industry. During the management of Rongchuang, Sun Hongbin changed his previous style and turned to cooperate with large state-owned enterprises.Sunac has successively reached cooperation intentions with Beijing's Shougang Group and Chongqing's Yuneng Group. In December 2008, when the global financial crisis was raging, Shougang Sunac, controlled by Sun Hongbin, bought the Beijing Haidian Xibeiwang project for 2.01 billion yuan, becoming the "new land king" in Beijing's deserted land market that year.This is seen as a sign of "Sun Hongbin's return".It is said that Sunac has launched projects in cities such as Beijing, Tianjin, Chongqing, Chengdu and Changchun.

In 2009, China's real estate frenzy soared, and Sun Hongbin tried to make a comeback. In December, Sunac Real Estate announced that it would be listed in Hong Kong. Prior to this, private equity funds Bain Capital, CDH Investments and Deutsche Bank had all invested in the company.According to the IPO timetable, on December 3, Sunac launched a road show, on December 7 for the IPO, on December 11 for pricing, and on December 18 for listing.Sunac plans to issue 600 million new shares in Hong Kong, and is expected to raise funds of 1.74 billion to 2.22 billion Hong Kong dollars. However, Fortune still seemed to stand coldly opposite Sun Hongbin.Just when Sunac Real Estate started its road show, on December 5, the Central Economic Work Conference was held in Beijing, and on December 14, the State Council passed the "National Four Measures", announcing the suppression of overheating of real estate.On the same day, Sunac Real Estate announced that in view of the current market conditions, the company decided not to conduct a global sale according to the original schedule.Calculated, this is Sun Hongbin's third attempt to go public in Hong Kong without success.

After entering 2010, the paranoid Sun Hongbin is still working hard. On March 12, Sunac won a piece of land in Tianjin covering an area of ​​70,000 square meters at a sky-high price of 1.78 billion yuan. In September, there were media reports that Sunac will go to Hong Kong for listing next week for promotion, tentatively scheduled for a public offering from September 24 to 29.This time, Sun Hongbin finally got his wish. On the morning of October 7, Sunac China was officially listed on the Hong Kong Stock Exchange. The opening price was 3.5 Hong Kong dollars, 0.57% higher than the offering price of 3.48 Hong Kong dollars, and it closed at 3.37 Hong Kong dollars, 3.16% lower than the offering price. 254 million shares were traded .

At this time, China's real estate market is in a precarious state.