When the epidemic broke out in 20 19, the value of Xu Hang soared to 47 billion yuan. By 202 1, his wealth had more than tripled. It is said that at the peak, his assets increased by1400,000 yuan every day. Before that, he earned 300 million at his peak.
What is the secret of Xu Hang's success?
Xu Hang was born in Guangzhou on 1962. Influenced by his parents, Xu Hang has grown rapidly under the best educational conditions.
With excellent talent and the need to study hard, Xu Hang has been a top student in the eyes of teachers since childhood. From 65438 to 0977, the national college entrance examination system was restored, and the goal set by parents for Xu Hang was to be admitted to a key university.
As the saying goes, like father, like son, Xu Hang really lived up to expectations. He was admitted to Tsinghua University at the age of 17 the year after he resumed the college entrance examination. In the educational environment at that time, it was a rare genius to be able to enter the highest university in China at such a young age.
After being admitted to Tsinghua University, Xu Hang decided to choose the most advanced and popular computer major at that time. After studying in the computer department for two years, Xu Hang gradually grew wings and wanted to see what the higher sky looked like. So, with the recommendation of parents and teachers, Xu Hang once again entered the biological science major.
After four years of study, Xu Hang learned professional knowledge, which made him realize that the ocean of primitive knowledge is boundless. Double bachelor's degrees in computer science and biological science also laid the foundation for his later life.
After graduating from undergraduate course, Xu Hang was not satisfied with the status quo and continued to study for a master's degree. 1984 was successfully admitted to Tsinghua University Biomedical Engineering.
Thanks to his dual knowledge of biology and computer, Xu Hang successfully entered the most powerful company in related fields in China after graduation.
At this time, Xu Hang can be said to be an absolute technical man. He thought he could concentrate on technology in the top companies in the country, but things didn't go as smoothly as he thought.
1986, Xu Hang graduated from Tsinghua University with a master's degree and came to Shenzhen from Beijing, and successfully joined Shenzhen Anke High-tech Co., Ltd., which was just established one year ago.
Anke is a high-tech enterprise jointly founded by China Academy of Sciences and American companies. At that time, it was the earliest medical device company in China with the highest level of science and technology.
Xu Xingru, who came to Anke, plunged into the sea. Compared with learning from books at school, Xu Hang prefers to do research and practice directly. Anke equipped Xu Hang with a special laboratory and research team, and Xu Hang did not live up to Anke's trust, and soon achieved results.
In Anke, Xu Hang, who is still young, led the team to break the monopoly of foreign countries in the field of medical devices, solved the scientific and technological problems one by one, and finally successfully developed the first medical color Doppler ultrasound instrument in China, thus winning the National Science and Technology Progress Award. However, he seems to have his own troubles in his career.
Xu Hang has a strong scientific research ability and a stronger sense of mission and responsibility. He is bent on overcoming more arduous scientific and technological difficulties, challenging the world's leading level and completely breaking the monopoly of foreign high-tech medical devices.
At that time, 90% of medical devices on the market were imported, and the high price of devices was bound to be shared by every patient who went to see a doctor.
To this end, Xu Hang has repeatedly applied to the company for scientific research funds and special funds, but the company has been slow to approve. Failure once is twice, and failure twice is three times. If the quantity is too large, the equipment and staffing will be reduced.
Although Xu Hang has cut research funds and software and hardware configuration for many times, the company rejected Xu Hang's application for the third time after considering the income factor.
According to Xu Hang's own recollection, if he only needs the company to provide 5 million yuan, he can lead his team to overcome a technical difficulty. Helpless, a penny stumped Han, the hero, and made a decision that surprised everyone.
Facing the present situation that domestic medical equipment is monopolized by foreign countries and the huge market prospect of domestic medical equipment vacancy, Xu Hang decided to quit his job and start a business to break the existing medical industry.
199 1 year, Xu Hang and his colleague Li Xiting founded Mindray Medical. Xu Hang knows biomedicine, and Li Xiting is familiar with enterprise management and industrial chain, and they hit it off.
From the beginning, Xu Hang and Li Xiting reached an agreement and resolutely took the road of independent research and development. However, just ten years after the reform and opening up, China's own scientific and technological strength is weak, and foreign technology is blocked, so it is difficult to make independent innovation on its own.
The national scientific and technological strength is still developing, the scientific and technological education resources are scarce, and there are no scientific and technological talents to support the development of medical science and technology industry; The medical device industry originated from foreign countries. Domestic enterprises have neither relevant production and operation experience nor complete industrial chain supply, and they are also under pressure from established foreign technology companies. Mindray Medical is hard to get started.
Helpless, for the long-term development goal, Xu Hang can only accept that the company should act as an agent for foreign medical device products first, and then save up the research funds and the company's operating experience before accumulating.
After three years of operation, Xu Hang has expanded the company's scale to tens of millions every year by acting as an agent for foreign medical products. Seeing that the company's operation process is becoming more and more mature, the industrial chain has been successfully opened and the sales channels have been improved, Xu Hang thinks it's time to do what he really wants to do.
At the time of 1995, Xu Hang tentatively put the monitor independently developed by the company on the market. The price of monitors developed by Xu Hang Company was reduced by 30%, and a large number of orders were obtained in less than half a year.
The success of Monitor gave Xu Hang confidence, but things were always unexpected.
In the next two years, 996 and 1997, Xu Hang spent a lot of money on the company's technology research and development. However, due to excessive capital investment and misjudgment of product development cycle and capital circulation cycle, the cost of scientific research cannot be converted into profits, and companies in Xu Hang are facing the problem of capital shortage.
By the summer of 1997, the company's capital chain was on the verge of breaking, and many people in the company chose to leave, including Xu executives. After they left, they set up a new company and became Xu Hang's competitor.
When Mindray Medical was about to close down, Xu Hang's partner Li Xiting turned to Wall Street for help.
At the time of crisis, Li Xiting went to the United States alone, found the manager of Walden Fund and requested emergency assistance from Walden Fund. In the end, Li Xiting returned to Shenzhen with an investment of US$ 2 million to re-energize Mindray Medical.
In a blink of an eye, the year will be over. Although Xu Hang is on the verge of bankruptcy, he is very happy. After the hard support in the early stage, the company finally achieved its goal. This year, Mindray Medical's total marketing income, agency income and independent product income each accounted for half.
When the time came 1998, the scientific research investment in the previous two years began to be transformed into product productivity, and the PM9000 series monitors developed by Mindray Medical were put into the market.
This series of products integrates all kinds of monitoring indicators, with powerful functions and reliable quality, which just meets the needs of hospitals, and more importantly, it is affordable and quickly seizes the market.
The powerful PM9000 series products have achieved great success and become the star products of Mindray Medical. After another year's operation, Xu Hang Company realized that the income of independent products exceeded 100 million yuan, and Mindray Medical is changing from an agency enterprise to an independent research and development enterprise.
In the following period, Xu Hang's companies were in full swing in the field of medical equipment, which not only broke the monopoly of foreign companies, but even achieved transcendence in many fields. In 2006, the company went public in new york with a market value of about $20 billion.
In the year when Mindray was listed on NYSE, Xu Hang was 44 years old and ranked 70th on Forbes China Rich List with a wealth of 3 billion.
Xu Hang, invincible in the medical field, was not satisfied. He feels that he has reached the bottleneck in this field. If he wants a breakthrough, he must change himself.
After jumping out of the medical industry, Xu Hang tried various industries, including media, entertainment, materials and even games. It seems that he has no clear direction, just wants to try more in different fields.
In 2007, the real estate industry flourished during that period, and Xu Hang also established Peng Rui Real Estate. But at first he didn't have the idea of transforming into real estate, but this casual move did affect his later life.
Xu Hang, which has achieved financial freedom, began to pay attention to the quality of life. When it comes to life, it is nothing more than food, clothing, housing and transportation. The first thing that Xu Hang is dissatisfied with is life.
After all, the place where he lives is a commercial house designed by others. No matter how big and modern Shenzhen is, Xu Hang always feels dissatisfied, so he bought a piece of land in Shenzhen Bay and wanted to build a building for himself. Therefore, Xu Hang named his ideal residence "Shenzhen Bay 1" and led Peng Rui Real Estate to start its own real estate campaign.
Xu Hang's location is almost the best in Shenzhen, and there are high-grade residential areas nearby. Xu Hang's goal is also simple, to build the most luxurious modern apartment.
In order to build an ideal apartment, Xu Hang also put forward two special requirements. First, Raffles Hotel should be built in the apartment campus. Secondly, there should be a helipad in the apartment, and it should be the highest helipad in the world.
Not only that, Xu Hang personally served as the design director of the project, and personally selected Italian tiles, German bathtubs, various supporting facilities and furniture from international first-line brands. The apartment has a concert hall, a coffee shop and a gym. Xu Hang really moved all his dreams to Shenzhen Bay 1 ..
Shenzhen Bay 1, with such high design requirements and building standards, is naturally expensive. At the opening170,000, it has now reached 300,000. A medium-sized apartment area 100 square meter, at least tens of millions.
Soon, Shenzhen Bay No.1 gathered a group of China's richest entrepreneurs, and soon Xu Hang built the Shenzhen rich circle with it. People who live here can really be said to be either rich or expensive, and they are all famous entrepreneurs and rich people.
Matthew effect makes Shenzhen Bay 1 attract more and more rich people to stay. It is said that by the end of 20 17, the direct income of the project will exceed 3 billion.
The success of Shenzhen Bay 1 gave Xu Hang great confidence, and Peng Rui Real Estate became the most popular real estate company in China at that time. After that, Xu Hang had a new dream. He wants to copy the success of Shenzhen Bay 1 to all parts of the world.
So Xu Hang slowly let go of Mindray Medical, and finally resigned as CEO of Mindray Medical on 20 12 to concentrate on developing Peng Rui real estate.
When the time came to 20 19, Xu Hang applied the successful experience of Shenzhen Bay No.1 to major cities in Guangdong, and successively landed more than ten projects. He is going to give it a try and aim at all of China. But at this moment, the accident happened.
No one would have thought that the end of 20 19 would be a watershed of great social change. In that Spring Festival, what everyone saw in front of the TV was no longer the jubilant New Year celebration picture of the whole country, but the medical workers from all over the country gathered to stand by and prepare to protest.
2020 is an extremely difficult year for countless enterprises. Countless enterprises shut down and stopped production, which really closed down. Many people's property has shrunk dramatically. However, at this time, Xu Hang's assets have quietly doubled.
What makes Xu Hang's value soar is not the Peng Rui real estate that he is most concerned about now, but the ventilator, a common product of Mindray Medical.
Ventilator is a kind of medical equipment to replace the abdominal breathing function of human body, which is mainly used for patients whose abdominal breathing function is weakened or lost due to injury or disease. Ventilator can stabilize the oxygen concentration in patients' blood, reduce the burden on patients' lungs and maintain patients' basic oxygen metabolism.
After the outbreak of the COVID-19 epidemic, first-line doctors soon found that the virus mainly targeted at human lungs, and patients' lungs would produce a large amount of liquid to prevent oxygen from entering the body circulation, so the long-term accident of patients' blood oxygen content reduction would cause irreversible damage to the whole body organs.
In order to ensure the normal metabolism of the body, maintain the blood oxygen index and the vital signs of patients, and buy time for doctors to rescue critically ill patients, ventilator has become an essential instrument to rescue COVID-19 patients.
Among many ventilator brands, the ventilator produced by Mindray Medical has reliable performance and guaranteed output, and soon became the first choice for major hospitals in China. With the development of the epidemic, the COVID-19 epidemic broke out abroad, which is far more serious than the domestic epidemic because there is no timely and effective isolation means.
Soon, the ventilators in foreign hospitals are in an emergency, and all countries in the world are urgently purchasing ventilators. Many foreign frontline doctors turn to social media for help. After ensuring domestic demand, Mindray Medical aims at the international market.
All countries in the world urgently need ventilators. New york alone ordered nearly 20,000 sets from China, and orders from other states were similar. Britain exhausted the inventory of ventilator early and is looking for buyers all over the world.
Spanish doctors cried on social platforms about the shortage of ventilators and had to give up all critically ill patients.
According to financial media reports, domestic ventilators received unprecedented orders during the epidemic, and more than half of the export orders of ventilators belonged to Mindray Medical. In order to ensure the supply of products at home and abroad, Mindray Medical has to urgently expand production capacity and increase production lines. Although the production scale has expanded five times, it still can't meet the market.
At this time, although Xu Hang has resigned from Mindray Medical, he is still the second largest shareholder of Mindray Medical. From the beginning of the epidemic to April 2020, Mindray Medical's single share rose by 84.39 yuan, an increase of nearly half, with a total market value of more than 330 billion.
By the end of 2020, the total market value of Mindray Medical has exceeded 500 billion, and Xu Hang holds 27.68% of the shares, with a value of nearly150 billion. If Peng Rui Group is added, his total assets will exceed 200 billion.
If you are poor, you will be immune, and if you are rich, you will help the world. At present, Xu Hang, whose wealth is growing rapidly, is not as excited as usual. He knew that what China needed at the moment was an entrepreneur with a complete waist, not a volunteer who took the lead.
From 2065438 to 2009, Xu Xiang donated 330 million yuan to Tsinghua University to establish a student aid fund and a scientific research fund; After the outbreak, countless medical equipment was donated to hospitals all over China. 202 1 Donate one billion yuan to Shanghai Science and Technology Fund.
202 1 Donate one billion yuan to Shanghai Science and Technology Fund. At the donation site, Xu Hang attended with his wife Gu Fen, which was the first time that Xu Hang's wife appeared in public. This beautiful young wife is also envied by others, even Xu Hang's long-term partner joked that he is a treasure.
From genius to cross-border tycoon, Xu Hang, who is nearly sixty years old and worth hundreds of billions, is accompanied by his wife. He is really a winner in life and enviable.