Xu Jiayin had a story in his early years that left a deep impression on me.
Back then, Ma Weidu talked about dining with Xu Jiayin,
he said Xu Jiayin's entrance could be described as 'the grandeur of an ancient emperor'.
Usually, when Xu Jiayin appears, a dozen bodyguards follow him, making quite an imposing presence.
As soon as Xu Jiayin arrives at his seat, he shakes off his coat and slightly raises his hand,
immediately a bodyguard hands him a cigar,
even helping to light it, and after he takes a few puffs, they quickly clear the ash for him.
Ma Weidu then remarked: "Even a turtle becomes精 when it puts on a coat."
But from another perspective, I also want to say,
it's not objective to simply conclude that Xu Jiayin is a fraud.
Evergrande Real Estate's entry into the national stage back then was definitely a dimensionality reduction blow.
Xu Jiayin managed hundreds of thousands of people clearly with his 'Red Book',
standardizing everything from bidding to renovation drawings,
and professional managers just had to follow suit.
Football also saw two AFC Champions League victories,
it's definitely not something that can be summed up by just burning money.
In the later stages, he became inflated, confused, and crazy with debt, that is a fact.
But more importantly, Suning, HNA, Vanke,
this generation of entrepreneurs collectively exited the stage.
From 2016 to 2026,
Xu Jiayin's ten years from peak to decline,
also coincided with the rise of Zhang Yiming, Wang Xing, Huang Zheng, and Li Xiang.
Each generation has its own沈一石.
Back then, Ma Weidu talked about dining with Xu Jiayin,
he said Xu Jiayin's entrance could be described as 'the grandeur of an ancient emperor'.
Usually, when Xu Jiayin appears, a dozen bodyguards follow him, making quite an imposing presence.
As soon as Xu Jiayin arrives at his seat, he shakes off his coat and slightly raises his hand,
immediately a bodyguard hands him a cigar,
even helping to light it, and after he takes a few puffs, they quickly clear the ash for him.
Ma Weidu then remarked: "Even a turtle becomes精 when it puts on a coat."
But from another perspective, I also want to say,
it's not objective to simply conclude that Xu Jiayin is a fraud.
Evergrande Real Estate's entry into the national stage back then was definitely a dimensionality reduction blow.
Xu Jiayin managed hundreds of thousands of people clearly with his 'Red Book',
standardizing everything from bidding to renovation drawings,
and professional managers just had to follow suit.
Football also saw two AFC Champions League victories,
it's definitely not something that can be summed up by just burning money.
In the later stages, he became inflated, confused, and crazy with debt, that is a fact.
But more importantly, Suning, HNA, Vanke,
this generation of entrepreneurs collectively exited the stage.
From 2016 to 2026,
Xu Jiayin's ten years from peak to decline,
also coincided with the rise of Zhang Yiming, Wang Xing, Huang Zheng, and Li Xiang.
Each generation has its own沈一石.