Beike Zuohui died of lung cancer, he changed China’s real estate industry


Tencent News Qianwang Tang Yuanyuan He Xi
On May 20, shell officials issued an obituary saying Zuo Hui, the founder and chairman of shell, died of an unexpected deterioration of his illness.
The 50 year old businessman has just become the richest man in China’s real estate industry, but he has always kept a low profile. The public knows little about him, but the two companies he founded, chainer and shell, are extremely successful in the real estate industry.
Tencent News “Qianwang” learned that Zuo Hui was diagnosed with lung cancer in September 2013. At that time, one third of the lung was cut off in domestic surgery.
Then, after a series of chemotherapy and cell therapy, it improved. After several years of treatment in the United States, he recently became small cell lung cancer.
Shell officials said the company’s board of directors will make appropriate arrangements for corporate governance and related matters, and will issue a timely announcement within two weeks.
Tencent News “Qianwang” learned that a single gang will probably become the new chairman of shell. Shan GangShi shell is the executive director of shell, and previously served as the deputy general manager of Dalian Cape house.
“President Zuo hasn’t appeared in public for a long time,” a shell source recalled. The last company wide public appearance was the 19th anniversary of Lianjia held in Sanya on November 12, 2020.
On the spot, Zuo Hui once again reiterated the original intention of “making the industry different because of our existence”“ The essence of chain spirit is upward and good. ” He said.
On the same day, 323 employees and shareholders of shell donated more than 19 million shares with a market value of about 2.9 billion yuan to help shell and all its brand connected partners and family members with a maximum amount of 2 million yuan.
“A sigh.” Another chain family member who has worked in chain family for more than 10 years also expressed a similar meaning, “he has always been the spiritual leader of our employees.”
“Although it has never been stated clearly, the” Zuo Hui spirit “has been deeply rooted in the hearts of the people within the company.” One family member said, for example, “do the hard and right thing.”.
This is what Zuo Hui once said: the fate of business operators in our era is to do the hard work and hard work behind fireworks to really improve the quality of basic services.
Zuo Hui’s circle of wechat friends stayed on April 23, the third anniversary of shell’s birthday. Zuo Hui wrote:
There are many stakeholders in this industry, including government, financial institutions, consumers, platforms, brokerage companies, brokers, developers, investors, etc.
The carding of values can help us clarify the relationship between these stakeholders and make our career grow healthily and stably. I think this is also the contribution shell can make to the industry in the third anniversary.
In his view, the mission of chain home and even shell is: from “how to make yourself better” to “how to make the industry better”, hoping to completely change the consumer’s view of the industry.
Shell founded the “real estate dictionary” or the establishment of the ACN network (agent cooperation network), are changing the real estate intermediary industry bit by bit.
Bao fan, a famous investor called “the most determined comrade in arms” by Zuo Hui, said in an interview with Tencent News “Qianwang” that “after communicating with Zuo Hui, I deeply feel that what he wants to do is definitely not what the real estate agency wants to do.”
“We live close to each other and often have coffee together.” Huaxing capital participated in the investment as early as in the period of shell’s predecessor chain home, and successively invested in three rounds“ At that time, most people still looked at chain home from the perspective of traditional real estate agents, “Bao Fan said.
Zuo Hui “doesn’t smoke and seldom drinks”, and he sets an example after suffering from serious illness. Sun Hongbin, chairman of the board of directors of rongchuang China, also disclosed Zuo Hui’s poor health when he mentioned some details of the investment chain home real estate at the press conference of investing in LETV in early 2017.
“We all know Lao Zuo’s body… Lao Zuo is taking care of his body,” Sun Hongbin said. “Four times a year, he ate rice with me and drank wine with me.”
On November 12, 2001, Lianjia Baoye (the predecessor of Beijing Lianjia real estate brokerage Co., Ltd.) was officially established with 27 employees
19 years after Lianjia was founded, shell successfully landed on the New York Stock Exchange on August 13, 2020. Announced that China’s “first share of residential service platform” was officially listed. So far, shell has become the largest real estate trading and service platform in China, and the second largest commercial platform in China after Alibaba.
According to the prospectus, the total trading volume of shells (GTV) in 2019 was RMB 2.128 trillion, which promoted more than 2.2 million housing transactions, making it the largest housing transaction and service platform in China. In the first half of 2020, Shell Group GTV reached 1.33 trillion yuan, a year-on-year increase of 49.4%.
It is worth noting that the rapid expansion of the scale of Lianjia and Ziyou, and the creation of intermediary platform shells, all occurred after Zuo Hui’s diagnosis of lung cancer. His personal wealth has grown exponentially in recent years.
In 2014, chain home began to promote the Internet in the system. Then, in 2015, chain home launched 11 mergers and acquisitions across the country. Through the merger and acquisition of Chengdu Yicheng, Shanghai Deyou, Beijing Yijia and other local intermediary service providers, chain home was able to get rid of the geographical restrictions of the industry.
The number of chain stores increased from 1800 in 2014 to more than 6000 in 2015. With the expansion of scale, Zuo Hui has become the largest second-hand housing broker in China from the title of the biggest “real estate intermediary leader” in Beijing.
In April 2018, shell, carrying Zuo Hui’s greater vision, went online to find a house. Different from the vertical self operation mode of chain home, shell is positioned as a new Internet real estate platform to attract more brokerage companies similar to chain home.
As of June 2020, shell real estate platform has entered 103 cities in China, connecting more than 456000 brokers and 42000 brokerage stores of 265 new brokerage brands.
Shell will also turn losses into profits in 2020. The annual net profit of shell in 2020 is 2.778 billion yuan, which is the first time to realize the annual profit under American accounting standards. After adjustment, the net profit is 5.720 billion yuan, with a year-on-year increase of 245.4%.

The establishment of shell also boosted Zuo Hui’s value by leaps and bounds. On May 13, new fortune released the “2021 New Fortune 500 rich list”, Zuo Hui, who is mainly engaged in second-hand housing platform and transaction, replaced Yang Huiyan and Xu Jiayin, and became the new richest man in real estate with a fortune of 220 billion yuan.
But too fast expansion speed, also let the outside world with the chain home and shell disputes become more, the evaluation of Zuohui also began to differentiate. Among them, the 58 series headed by Yao Jinbo has the most intense criticism on shells.