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Interview with President Wu Wei of HXSZ Property Holding

点击量:353   Published:2018-04-17

Wu Wei, who left his career for some time, has now come back at the age of 50 with new targets, kicking off an all-new marathon run in his career life.

Script by Wang Danhong

Interviewed by Wang Danhong


In April 2018, Wu Wei would run two half marathons with only one-week in-between time. If we consider the Wuxi Marathon at the end of March, he would run three marathons within one-month span.

Running in marathons in such short intervals is really energy-consuming. In this period, the runner’s perseverance and physical ability are seriously tested. He has to find the best balance after spending all his physical power in the marathon. Mr. Wu Wei, who is now 50 years old, finds a new challenge in 2018. In his eyes, the challenge is not big enough because he has the strongest nerves and youthful mentality that provide him with great support.

One knows his fate at the age of 50. To be specific, a person can still work painstakingly on something. But the outcome is not so important for him. However, Wu Wei still shows very young mentality by restarting his career at the age of 50. “I should maintain dynamic mentality and aggressive spirit”. He is no longer pursuing physical life. But he has great ambitions and expectations for his career.

Since entering the real-estate industry in 1990, Mr. Wu has worked in the field for 28 years. Growing from a worker on the construction site, he has become the VP in the Group. His personal experience reveals the development route of real-estate industry. In the 10-year Golden Age of real estate, he uses his vision and bravery to lead his previous employer JINGRUI Holdings to rank among the first 50 places in Top 100 Real Estate Companies in China.

“I hope to identify an all-new development model by using HXSZ as a platform”, Wu Wei has set this target for him. In 2018, he left his previous employer in Eastern China, where he worked for 14 years, and chose to work in Northern China. The differences in location and in corporate elements have made Mr. Chen Wei, the President of HXSZ Property Holding, face new challenges.

At the age of 50, he chooses to leave and come back.

I


A new official applies strict measures. His first measure targets at the customer service.

In the City of Dreams Project located in Yanjiao, when owners of the first-phase project accept their properties, the public water supply/sewage pipelines suffered from leakage because of the low temperature in winter. The project, which emphasized on tech residences, received a lot of complaints from clients.

Wu Wei has never expressed reluctance to talk about this incident, though it came so suddenly. For an insider working in the field for nearly 30 years, he believes he has to take the positive attitude towards observing and solving all problems that arise. At the same time, it is crucial to take the opportunity to improve the customer service and product design.

“The first measure, and the most important one, is to establish the system oriented towards clients”. In the first month after he took his position, Mr. Wu Wei took senior executives of the company to meet with representatives of owners, listening to their voices and providing solutions. He also instructed that executives in all regional companies, on a monthly basis, should have face-to-face meeting with owners.

Nowadays, the real-estate companies provide products and services that are increasingly convergent. To secure development in such environment, it is imperative to shift from “focusing the market strategy on development and targeting at sales”to “focusing on clients and competitiveness of service”. Naturally, Wu Wei has already realized the development trend and placed rebuilding of customer relations as the priority task since he took the position.

When facing clients who make complaints and file lawsuit, Mr. Wu has never taken the elusive attitude since taking his position.  

“If I took the elusive attitude, the problem will never be fixed”. He fully understands that he can get understanding and forgiving from clients only by facing the problem and solving it. Only in this way can the company’s reputation be rebuilt. Wu Wei has brought his previous management experience into HXSZ. He is not only in charge of real estate business, but also builds the customer service center. He hopes to use his own experience to change customers’ cognition of the company so as to upgrade its reputation.

The strict regulations have been made.

Wu Wei deems customer service as one of the performance appraisal points in HXSZ, paying professional third-party companies to make surveys about the company’s customer satisfaction. The customer satisfaction is pegged to the bonus of each executive and employee in the company. Because of this, customer service has become a performance item cared most by all people in HXSZ.

II


Having working in the real estate industry for nearly 30 years, Wu Wei has accumulated rich experience in developing, investing, operating and marketing. He has brought his experience in customer management in HXSZ. Nevertheless, he is still confronted with many challenges.

Compared with the exquisite projects in Southern China, projects in Northern China are coarse. For Wu Wei who worked long in the Yangtze River Delta and Pearl River Delta, he needs to address many challenges.

Mr. Wu Wei is famous for his quick actions when working in Eastern China. He once brought the Quick Action Principle into developing and selling properties, thus creating many records in the industry.

Before 2015, the Zhejiang market, who was in the hands of Wu Wei, made a few records of sales commencement. The Yuhua Mansion project in Hangzhou took only 148 days from land bid to sales commencement, becoming the quickest project in Hangzhou.

Hangzhou Shenhua No. 1 Mansion project took only seven and a half months, making the quickest record in urban area of Hangzhou in 2014.

Though fast turnover did bring huge profits to his previous employer, Wu Wei now focuses more on product and service. He is no longer talking much about quick turnover. “Rapid turnover can really get recognition from the capital market. But it also has its own problems”. Nowadays, rapid turnover is not the major choice of Wu Wei. He now cares most about how to make products that meet customers’ demands and how to maximize the product value.

He hopes to lay the solid foundation by working hard. He also hopes to make faster improvement so as to maximize the project value.

“In the past, all properties were sold out immediately after they were built. But it will never happen today. In the future, we have to work hard on core products, service and customer experience”, Wu Wei keeps emphasizing on customer service. In his mind, the most urgent task is to provide the best customer service. The days are gone when people relied on traditional development model. In the future, the coarse development models and approaches will definitely be phased out, unable to secure survival in the market.
There are many huge-size projects in property market close to Beijing. And some huge projects have met with quality problems caused by the rapid process of development. “The high-quality land resources are wasted. It is really a pity”. In the eyes of Wu Wei,  the major customers of these projects will be spillover demands from Beijing. As a result, the future projects will enter the era of competing on quality and service.

In the future, Wu Wei will make full use of the property investment, industrial investment and financial investment of HXSZ so that its financial platform and industrial platform will help property business climb onto a new height.

Recent years has seen real estate companies transitioning from “real estate developers” to “city operators”. Compared with companies with heavy burdens of real estate, the light-weighted HXSZ finds it easy to make turns. The three business sections of HXSZ empower each other, working together to push forward development of the Group. This also partly explains why Wu Wei chooses to work in HXSZ. This platform has very bright future. Wu Wei showed his smile when talking about this.

III

For a real estate company, “Land reserve is most important”. This is the same for HXSZ. But Wu Wei has to make sure to get more land plots in the future.

In the real estate business, HXSZ will choose to combine property with industry. In the future, it will also secure land reserves by means of M&A.

The latest M&A happened in 2016 when the industry believed SUNAC would acquire the City of Dreams Project co-developed by TOPSPRING and HXSZ in Yanjiao. As a matter of fact, HXSZ used the right of prior buyer to acquire the project completely. Before that, City of Dreams Project was shared by HXSZ Investment and TOPSPRING, which held 49% and 51% equity respectively.

In terms of regional development, Wu Wei plans to make big movements in circum-Beijing region, Guangdong-HK-Macao Greater Bay Region and Circum-Shanghai region. Though price is going down or imbalanced development happens in Eastern China region, some opportunities rise because some companies are suffering from shortage of funds. With rich experience in Eastern China, Wu Wei is not worried about land reserve in the region.

“I am confident we will have amazing land reserve one year later. But I cannot disclose the figure now. For the pure real estate section, we will make huge investments this year”. Wu Wei sets the target of purchasing 10+ billion RMB land this year.



In the circle of real estate, it seems running in marathon has become a fashion. People having run in it know that the dopamine secretion in about 10km will excite the brain of runners. And the most difficult part is the few km before the finish line. Marathon tests patience, technique and even mentality. It intoxicates so many people. Because they make it in the most difficult time, the pleasure of reaching the finish line makes all efforts worthwhile.

Wu Wei, who left his career for some time, has now come back at the age of 50 with new targets, kicking off an all-new marathon run in his career life.



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