Ten years after the development of mobile Internet, the venture capital circle has formed an established secret of success.

Seize the wind, crazy financing, scale expansion, brainwash users, complete listing, reduce cash at a high point, and then dig another story. There is no denying that Lu does have a set of capital.

However, it is such a universal formula for capital operation, "land-style capital technique", but because of a cup of coffee, three cars were lost: automobile company, Shenzhou UCAR and Baowo automobile;

17 dreams are shattered, and the "Shenzhou Department" empire collapses!

From Luckin Coffee's suspension due to financial fraud, to UCAR's forced delisting, and now to Anbokai, a private equity fund owned by CAR Inc, Lu probably never imagined that in just over a year, the "Shenzhou Department" empire he built by himself fell apart.

Not long ago, it was revealed that Lu was robbed and executed 654.38+0.2 billion yuan, which is the third time in six months.

In fact, Lu has been listed as the executor three times this year. Lu owed 3.5 billion yuan three times, from Forbes rich to huge debts. Lu's capital adventure undoubtedly failed, and he became a veritable "loser".

Then, how did the once brilliant "Shenzhou" empire get out of control step by step?

one

Looking back at Lu's capital gambling in recent ten years, I have to marvel that many seemingly ironclad truths are actually hidden behind the close combat of mahjong.

From Ruixing's financial fraud, to the sudden drop in the performance of car companies, and then to delisting to "hide" Baowo Finance, Lu's radical expansion model has affected the whole "Shenzhou Department". Now, the "automobile ecological map" that the "Shenzhou Department" has worked so hard to create has already collapsed.

At 9: 00 am on July 8, it was a historic moment for CAR Inc to complete privatization and delisting. 65438 This year1October 25th, CAR Inc announced that private equity giant Amboke planned to privatize it with 177438+0 billion Hong Kong dollars.

This means that CAR Inc, which once made Lu scenery infinite, announced the completion of the compulsory acquisition and officially bid farewell to the capital market.

An old friend who has known Lu for more than 20 years commented on him. Lu is a commercial predator with a keen sense of smell and sober cognition.

Think about it, too. From car rental, online car rental to take-away coffee, Lu, an entrepreneurial veteran, has stepped on every step, and every outlet has benefited him a lot.

At the peak of Lu's popularity, there were three listed companies under his "Shenzhou Department", including, Che Inc. and Luckin Coffee, which was listed eight months after its establishment/KLOC-0, attracting gold from the New Third Board, Hong Kong stocks and Nasdaq.

However, there is a thin line between clever prancing and self-defeating, and once successful, it does not mean slow and steady. Lu, who has always relied on capital to go smoothly, finally tasted the bitterness of being swallowed up by capital.

Facing the capital market, Lu, who claims to be not short of money, relies too much on "storytelling" and spends money crazily to expand the scale. The routine of refinancing by telling stories ignores the essence of commercial profit, and thus falls into the capital vortex and is difficult to turn over.

two

Lu's life is a legend. He created the speed miracle of CAR Inc and Luckin Coffee, and he only fell from the peak in an instant.

Lu's failure is as radical as his success.

In the past 2020, in just one year, his life experienced a transition from peak to trough-at the beginning of the year, the market value of Ruixing once rose to $654.38+02 billion, and that of Lu family fortune reached $266.543+03 billion at its peak, exceeding that of New Oriental. But soon, Rui was lucky, and his capital games closed down one after another.

Since Luckin Coffee exposed financial fraud in April 2020, the assets of "Shenzhou Department" have exploded one after another:

Luckin Coffee's financial fraud has a domino effect. After the thunder of Luckin Coffee, it was delisted, UCAR terminated its listing, and CAR Inc sold itself to complete privatization ... In just over a year, the business myth of "Shenzhou Department" created by Lu quickly collapsed.

Lu Jin Coffee took a wrong step, the domino in the capital chain fell, and Lu lost the game.

According to the news of China Executive Information Open Network on June 9, recently, Lu was listed as the executor by Beijing No.1 Intermediate People's Court, with the case number of (202 1) Jing 0 1 Zhi 763 and the execution target of 1200484220 yuan.

In fact, Lu has been listed as the executor three times this year.

65438+1On October 22nd, Lu was enforced by Beijing No.4 Intermediate People's Court, with a total amount of136.7 million yuan; On March 5, Lu was severely hit again and was enforced by Beijing No.1 Intermediate People's Court for 936 million yuan. I owe 3.5 billion three times.

In the "2020-202 1" published by New Wealth, the statistical wealth of Shandong in 2020 was 2.810.3 billion yuan, which fell to 6.47 billion yuan in 20021year, and the wealth shrank by 75.2% in one year.

three

In the long development process of "Shenzhou Department", Lu mastered the ability of "business+capital" and formed a set of "unique" gameplay: crazy financing, scale expansion, brainwashing users, completing listing, and then digging another story.

Start all over again.

If Lu Jin's "lie" has not been exposed, Lu's "Lu style of play" will go smoothly. With the help of capital, a listed company was built within a few years, and within 20 years, he easily established a very huge "Shenzhou Empire".

Lu's entrepreneurial story began in the 1990s.

1994, Lu, who was in his twenties, gave up his "iron rice bowl" and started a business after working in Shijiazhuang government for three years. Subsequently, our two ventures were successful.

In 2007, Lu entered the car rental market and established CAR Inc. Holding Co., Ltd. to provide professional car rental services such as short rent, long-term rental and financial leasing, as well as supporting services such as national rescue. But in the second year, Lu Automobile Company encountered a financial crisis and its development was not smooth.

In July of 20 12, the car company also started a price war, and the fleet size increased from 26,000 vehicles at the end of 20 12 to 45,000 vehicles at the end of 2012. In 2009, the fleet size was less than 700 vehicles.

Since then, CAR Inc has made great strides and successfully listed in Hong Kong from 2065438 to September 2004. In the year after listing, Lu pushed the market value of automobile companies to the peak through crazy expansion, which more than doubled when listing. In the following nine months, he and his investors cashed in about 1 65,438+0.3 billion yuan several times.

Later,, Ruixing, has been repeating this pattern, pushing up the stock price and cashing out quickly, so has Ruixing.

spend freely

To put it bluntly, Lu is a "big liar".

Nowadays, the delisting means that Helu's "Shenzhou Department" is about to leave the capital market.

Although the "Shenzhou" empire has been exhausted, it has not compromised.

After more than 20 years in the business world, I don't want to find another business opportunity because of this failure. This time, he set his sights on noodle restaurants. Like Luckin Coffee, he opened 500 noodle restaurants all over the country. At present, more than a dozen branches are coming, and some local noodle restaurants have been renovated and will soon open. However, will this myth be replicated this time?

The outside world believes that the awakening of the former commercial crocodile is bound to set off stormy waves in the catering industry. This small-scale venture is a battle for Lu's name.

However, catering has always been a track full of uncertainties: the characteristics of huge market scale, many players, low concentration, difficult standardization, low gross profit and high mortality determine that this cross-border war is doomed to be difficult.

After all, in the past entrepreneurial experience, there are traces of failure. From car companies, special cars in China to UCAR in China, and then to Ruixing, he is bolder and more savage every time.

He always shows a sense of Jianghu and has no sense of rules. These gambler-like qualities made him successful in the past, and he was finally thrown off the gambling table in a very disgraceful way.

References:

Just now, investor Lu suddenly resigned,

Daily picture "Who wants to pay back 65.438+0.2 billion yuan", do you still remember what you said? 》、

Sharp knife finance "30 billion evaporated overnight, the circle and trap of capital gambler Lu",

Changjiang Business Daily "The Collapse of the" Shenzhou Department "Building in Shandong Province Want to Tell the Cross-border Story of the Restaurant Capital"

Huaxia Times "Car companies suddenly withdrew from the market, and Lu, who is not worried about money, waited for a comeback".

Jianghu unties the "holiday gossip: Lu faked and earned 26 billion yuan of capital" big flicker ",and returned to before liberation overnight! 》