Platinum sitting in front of the reporter has a baby face, which makes it difficult to connect him with the boss of a large private enterprise group company with total assets of 2.6 billion yuan.
However, this young man, who is only 29 years old this year, rejected his father’s plan with a unique investment vision and invested heavily in real estate, so that the company’s total assets more than tripled in two years, and he was recognized as the most discerning young man in the circle.
Even Platinum himself didn’t expect that when he was 26 years old, his father handed over Erdos Xintong Group Company to him for operation and management. Now, the company’s total assets reach 2.6 billion yuan, and it has 8 wholly-owned subsidiaries and 3 joint-stock enterprises. The company has more than 400 middle management and more than 4,000 employees. The company’s business involves construction, investment and real estate development.
Start with a material engineer.
Platinum’s father, Bai Fengming, is one of the people who got rich first in the society. Born in March 1979, Platinum has always enjoyed an excellent life.
"When I was a child, I didn’t like to study, but I loved to play." Platinum smiled and recalled the past.
After graduating from junior high school, Platinum attended Inner Mongolia Architectural School at her own expense, majoring in industrial and civil architecture. Because he has been on the construction site since childhood, he is very interested in architectural knowledge in professional courses, and his test scores can reach the middle level. When he graduated, he took the adult college entrance examination, was admitted to Inner Mongolia University of Technology, and studied industrial and civil architecture for three years.
"After finishing school, I felt that I should do something. I thought about going to Shanghai at the beginning." But his father asked him to help on the construction site, and gradually there were more and more things at hand, and the idea of going out was forgotten day by day.
In June, 2001, just graduated from college, he was arranged by his father to work as a material clerk in the project department of Hohhot City of Xintong Group Company, responsible for managing the purchase and distribution of various materials on the site.
"In the past, my parents and teachers thought I couldn’t do it. Since I arrived at the construction site, I thought I must make some achievements for them to see." Platinum said.
Platinum, which has always been playful, has completely changed since then. He can only sleep for about 3 hours every day, managing the entry and exit of various materials. When the stevedores are too busy, he will work with them. After a year, he has lost a lot of weight, "the eyes are black."
"What moves me most is that although he is young, he is very serious about everything. Unlike other children, he doesn’t think that his father is the chairman of the board, so he doesn’t pay attention to his employees and often asks them questions humbly." Chen Haimei, then deputy manager of Hohhot Project Department of Xintong Group Company, said that when he was a material engineer, Platinum was on the construction site every day. In winter, he wore a cotton coat and carried materials with the workers, and sometimes he fell asleep when he sat on the concrete pier.
Platinum, which can bear hardships, has been recognized by employees and fathers. In 2003, he was appointed as the manager of Hohhot Branch of Xintong Group Company.
Triangular debts made him mature rapidly.
After being the manager of Hohhot Branch of Xintong Group Company, Xintong Group successively built projects such as Hushi Shiao Building, Liyuan Sunshine City and Siziwangqi Party and Government Building. The quality and quantity of the project was completed as scheduled. Due to the troubles of the triangular debt, the work was done without money. The 50 million yuan invested by the company has thus become a dormant account.
Platinum, who lives with migrant workers every day, can’t bear to default on their wages, so it raises funds to pay wages for migrant workers, and the rest of the money is paid back to some materials first.
At that time, the phenomenon of triangular debt was very common in the construction industry. Party A didn’t give Platinum the project payment, so he didn’t have to give migrant workers wages and materials, but young Platinum tried his best to pay the due amount. At that time, many people thought he was stupid, but Platinum now recalls, "Those migrant workers are all large families and have to eat."
"At that time, the pressure was particularly great, and I didn’t want to do this." Platinum said that hearing a phone call every afternoon is like "having a heart attack". He can only drive to the suburbs secretly and cry, and go to work as usual the next day.
This incident also made Platinum truly realize the changes in human feelings and the changes in business. Through this tempering, Platinum is more cautious in doing things.
After the development of Hohhot was frustrated, Xintong Group Company transferred the construction team in Hohhot back to Erdos City, Inner Mongolia.
In 2004, the government of Tuokeqi, Erdos City, Inner Mongolia attracted investment, and they developed Huijingyuan, the largest real estate in Qipanjing Town. Platinum is also responsible for the implementation of this project, but when it was first developed and built, few people bought the building.
"Only one of the 16 buildings built in the first phase was sold", which made the capital turnover of the whole Xintong Group difficult. In order to pay the construction workers, Platinum raised 3 million yuan from non-governmental organizations.
In 2005, the sales of Huijingyuan building began to improve. Platinum negotiated with Qipanjing Town Bus Station to provide land for the bus station free of charge and build the station for them at the cost price. After the completion of the station, the prices of commercial buildings and residential buildings in the community have been greatly increased, and the cooperation between Huijingyuan Community and the station has achieved a win-win situation. With the improvement of sales, the later projects of Huijingyuan Community have been completed one after another. Platinum led his employees to make a beautiful turnaround in Qipanjing Town and established their own brands.
Bai Fengming, the chairman of the board of directors, feels that his son has matured due to the success of the construction of Qipanjing Community. At the end of 2005, he made Platinum the general manager of the company and took full charge of Xintong Group. Bai Fengming no longer participates in the specific operation of the company except for making big decisions.
Unique investment doubled the company’s total assets.
After taking full charge of Xintong Group, Platinum made the most successful investment in the construction of the central building in Dongsheng District, Ordos City.
"The two office buildings in the Central Building were all sold out in just seven days. The construction of these two office buildings shows Platinum’s ability to predict and analyze the market." Chen Haimei, deputy general manager of Xintong Group, expressed sincere admiration when talking about the young platinum.
The construction of the Central Building was originally proposed by Bai Fengming, and plans were made to build two office buildings with eight floors or so. After careful market research, Platinum learned that the 8-storey office building is far from meeting the needs of Dongsheng District. He believes that it is necessary to be the best and tallest building in Dongsheng area, which can not only expand the income, but also establish the brand image of Xintong Group in Ordos real estate industry. It is suggested that it be built into two 22-story buildings.
The construction of the office building of the Central Building has made Xintong Group Company have a rich return. The visionary Platinum has aimed at the future of the market. In 2006 and 2007, they invested huge sums of money to buy about 3,000 mu of land from the auction market. At present, the price of these land has doubled, and the land reserve once again shows Platinum’s keen market forecasting ability.
"Although I have worked in Xintong Group for 6 years and done something, my career should have just begun. The past development is mainly attributed to my father, and the future development is really on my own. " Young Platinum has a clear understanding of himself.
On the basis of his father’s steady operation, Xintong Group Company engraved the new gene of this young man’s energetic and decisive decision-making.