Xu Xiang
| Xu Xiang | |
|---|---|
| Native name | 徐翔 |
| Born |
February 1977 (age 39)[1] Ningbo, Zhejiang[1] |
| Nationality | Chinese |
| Other names |
Xu Qiang (徐强)[2] Big Xu[3] |
| Education | High School |
| Occupation | General Manager of Zexi Investment (泽熙投资) |
| Known for | Private placement investor |
| Spouse(s) | Ying Ying (应莹) |
| Parent(s) |
Xu Boliang (徐柏良, father) Zheng Suzhen (郑素贞, mother) |
Xu Xiang (Chinese: 徐翔; pinyin: Xú Xiáng; born February 1977 in Ningbo, Zhejiang) is a former Chinese private placement investor and the General Manager of Zexi Investment (泽熙投资), a Chinese investment company. He has been called "China's Carl Icahn" and Chinese investors always call him "Big man of Private placement" (私募一哥).[4] On November 1, 2015, Xu Xiang was arrested by the police due to insider trading.[3][5]
Career
Early life
Xu Xiang was born in Ningbo, Zhejiang in 1977. In 1993, Xu skipped the university entrance exams and started investing in stocks, using money from his parents as initial capital at China Galaxy Securities trading hall on South Liberation Rd in Ningbo.[6] He was the most prominent hedge fund investor in Zhejiang before 2000, with several hundred thousand yuan.[1][7] In 2003, “Limit-up Kamikaze Squad” (涨停板敢死队) is reported by media in the first time, Xu Xiang renowned as the “captain of the Limit-up Kamikaze Squad (涨停板敢死队总舵主)”.[1][6]
Shanghai career
Xu Xiang moved to Shanghai in 2005. According to Economic Information Daily (经济参考报), Xu arrived in office at 8.45am every day and often went to bed at around 2am. Studying stocks is his only hobby. He founded Zexi Investment in 2009 with 30 million yuan in registered capital.[7] According to the official website of Zexi Investment, Zexi No. 1 Fund and the Zexi No. 3 Fund have gained about 3000% since 2010. Xu and his relatives have a combined fortune of US$2.2 billion.[3]
In July 2011, Zexi Investment was investigated in rumor, but he denied illegal operations and the regulatory authorities investigated rumors.[8] In 2015, he manipulated the stock market during the stock market crash in summer.[9]
Arrest
On November 1, 2015, Xu Xiang was arrested by the police due to insider trading. The highway patrol sealed off the 35.4 km Hangzhou Bay Bridge for more than 30 minutes. Xinhua News Agency, the official news agency in China released a brief statement after the arrest.[3] At that day is Xu's grandmother's birthday, he rushed from Shanghai to Ningbo on the way, and arrested and sent to Beijing by the police.[10] Some media reported and pointed Xu's arrest is linked to anti-corruption campaign.[11]
On April 29, 2016, Xu was formally arrested on charges of manipulating the securities market and inside trading.[12]
Family
Xu's father, Xu Boliang (徐柏良), was the legal representative of Zetian Investment.[13] His mother, Zheng Suzhen (郑素贞), held some stocks. Her stocks were frozen until November 2017. Xu's family controlled Ningbo Zhongbai (宁波中百), a department store in China.[14] His is married to Ying Ying (应莹).[15]
References
- 1 2 3 4 "Private prisoner from death squads to a brother Xu Xiang curtain call". Sunning View. November 3, 2015.
- ↑ "草根徐翔的逆袭之路". Hexun. November 6, 2015. Retrieved November 23, 2015.
- 1 2 3 4 "Top fund manager nabbed in China graft probe". The Straits Times. November 4, 2015. Retrieved November 23, 2015.
- ↑ "中國「私募一哥」涉內線交易 遭警方帶走". Apple Daily (Taiwan). November 2, 2015. Retrieved November 23, 2015.
- ↑ Ren, Daniel (3 November 2015). "Billionaire hedge fund manager known as 'China's Warren Buffett' in dramatic highway arrest for insider trading: Investment wizard likened to Warren Buffett is latest casualty in probe of market irregularities". South China Morning Post. Retrieved 17 January 2016.
- 1 2 "China's 'Limit-up Kamikazes' thrived in wild-west stock market". Financial Post. November 4, 2015. Retrieved November 23, 2015.
- 1 2 "Zexi Investment's Xu Xiang: The self-made man with the Midas touch". South China Morning Post. November 4, 2015. Retrieved November 23, 2015.
- ↑ "泽熙徐翔等人被警方依法调查 涉嫌三大罪名".
- ↑ "In China's Widening Stock Crackdown, It's 'Kill the Chicken to Scare the Monkey'". The Wall Street Journal. November 12, 2015. Retrieved November 23, 2015.
- ↑ "徐翔被捕"致泽熙停止运转 背后或涉及多名部级官员". sohu.com.
- ↑ "The anti-corruption campaign sweeping China is coming for the finance sector — and they should be terrified". Business Insider. November 16, 2015. Retrieved November 23, 2015.
- ↑ "'China's Warren Buffett' formally arrested on charges of manipulating securities market and inside trading". South China Morning Post. April 29, 2016. Retrieved April 29, 2016.
- ↑ "徐翔父亲被挖出实际控制宁波中百". qq.com.
- ↑ "Stocks Associated With Arrested China Fund Manager Soar After Holdings Frozen". Forbes. November 10, 2015. Retrieved November 23, 2015.
- ↑ "炒股一家亲 那些有钱又任性的牛散们". Xinhua News Agency.