Larry Yung, Citic Pacific Group Profile.

<P> Larry Yung was born in Shanghai in 1942, is the only son of the family, and another two sisters and two younger sisters. .His father was the famous "red capitalist" Rong. .Yung childhood spent in Shanghai. .1959, graduated from the Nanyang Model High School. .Public-private partnerships, the Veterans Home in the Chinese mainland enterprises have implemented public-private partnerships, the family generally does not act as a direct human operation and management. .The next generation seems to enjoy the advantages brought by the high dividend life, without having to suffer from childhood. .Yung, according to some people who know memories of that year, when sixteen-year-old Mr Yung is the Shanghai famous "son." .He has a red convertible sports car, often open out for a drive, he often invited classmates and friends to the International Hotel, Red House dinner, very generous. .He is a sports fans, the college is "professional baseball player", has on behalf of Shanghai and Tianjin team participated in the national team game, "every day to practice a ball game, no law classes." .</ P> <P> 1965, Larry Yung graduated from Tianjin University in Electronic Engineering. .Larry Yung, and other young people, with wholehearted enthusiasm to a station under the Jilin Changbai Mountain internship. .1966, and "decentralized" to the Liangshan Yi Autonomous Prefecture. .Grass-roots work in eight years, the Veterans Home generations experienced generations ago never experienced the temper of his day and workers, migrant workers fought together, lift the stone, excavation, moving machinery and equipment, carrying oxygen .bottles (welding use) up the mountain down the mountain, set up the mid-air high-voltage cables, and what hard work is done menial work. .1972, Larry Yung returned to Beijing. .1978 summer, pack up and carry a simple one-way permit, Yung thirty-year-old away from his family, say goodbye to his wife and children, armed with Hong Kong. .According to the "legal life" of the report, Mr Yung's first pot of gold is so earned: Veterans Home in Hong Kong have some assets, mostly shares these mills, such as nine mills, Nanyang yarn factory. .The mill's shares did not move over the three years of dividends, which product you money. .With this capital to Larry Yung Chi Kin, and cousin gold Rongzhi Qian Rong Chi, Tai Po, New Territories joint venture launched in love cards (Elcap) electronics factory, the initial products include capacitors, electronic watches and toys, and was transferred to the production .random access memory integrated circuits and computer-based. ."Initially, I took one-third of equity, then the factory made money, I personally get a share of the profit to reinvest, so I increased the equity share of sixty percent of a total investment of Ins and Outs .more than a million Hong Kong dollars. " .Larry Yung Chi Kin sale ECKART, he personally received $ 7,200,000, that is, fifty-six times his investment. .The publication reported that Larry Yung's second pot of money earned this way: "As a businessman, I was the biggest success is not love cards, but the 2082 card with money from the love of a practice in the United States .Venture Capital. "That year he had a few engineers working in the IBM San Jose, California joint venture co-founded the California auto design company that specializes in the United States the first computer-aided design software company," my partner is .is one of the best talent in this area. Business is responsible for by them, I still love the Hong Kong business cards. </ P> <P> initial investment, including loans, is around more than two million U.S. dollars, percentage of my account .of sixty. This company has been profitable; to the end of 1982, was a manufacturer of computer design hardware acquisition percent xxviii, listed the following year and merge, becoming the first U.S. listing of computer-assisted equipment manufacturers .. The original investment of more than two million U.S. dollars will be added four times at once. "Larry Yung is optimistic about Hong Kong, he sold shares of U.S. companies Liu Cheng, coupled with the sale love cards get over fifty-six million Hong Kong dollars, .He was hundreds of thousands of property has been increased to four hundred and thirty million Hong Kong dollars, after less than a decade. .The fastest thing in the world may be most important value-added building of Hong Kong. .The company added Yung speed faster than Hong Kong's property market. .Just a few years time, value-added fifty times, four times, as if the Arabian Nights. .Yung joined his father in 1986 China International Trust and Investment Corporation, as vice chairman and general manager of CITIC Hong Kong. .Larry Yung, CITIC Hong Kong entered the generous after the acquisition of Cathay Pacific Airways, 12.5 percent of the shares.. .Hong Kong's Cathay Pacific Airways is a veteran of the British-owned company, is the world's leading international airlines. .1987, the Hong Kong stock market, real estate and the world shipping industry is still at a low ebb, the CITIC Hong Kong after careful research and analysis, decision to acquire stake in Cathay Pacific. .Mr Yung said: "Our analysis of nearly six months, that Cathay Pacific's earnings prospects, management improvement, and have an excellent management team. I put my mind to report to the Beijing head office, less than five days to get .approval. " .Eight hundred million dollar loan for this State, as the CITIC Hong Kong's operating capital. .February 1987, to 2.3 billion Hong Kong's CITIC HK Cathay Pacific acquired a 12.5% stake: 1990, Hong Kong CITIC to billion dollar acquisition of Dragonair .46.3% of the shares. .CITIC Hong Kong, the White Dragon, has become the largest shareholder of Dragonair. .After the acquisition of Dragonair, Mr Yung part of the shares will be transferred to Cathay, Cathay Pacific accounted for large shares. .Dragonair, Cathay Pacific management of the business delegate, added to the Cathay Pacific aircraft leasing. .Cathay Pacific grounded mainland routes, give Dragon. .In this way, Dragonair became a subsidiary of Cathay Pacific. .</ P> <P> Hong Kong, a CITIC largest-ever investment was in 2090 with more than ten billion dollars to buy Hong Kong Telecom II into equity, as this was the Hong Kong stock market, the second largest company by market capitalization .shareholders. .Thus, in addition to Cathay Pacific in Hong Kong CITIC 12.5 percent, twenty percent of Hong Kong Telecom shares, but also a Thirty percent of Dragonair point three percent of Hong Kong Eastern Harbour Crossing .The five past eleven p.m., twenty percent of CTM, the Asian satellite company thirty-three%, two per cent of Hutchison Communications, Peregrine Group, nine percent, "Ka Wah Bank .seventy-four% of the shares, plus about a billion dollar real estate, a fleet of about three hundred thousand tons, also has been Jiangsu and Inner Mongolia in China 4-500000000 U.S. dollars to invest in building power plants, the Group's assets .value of close to twenty billion dollar. </ P>.