In the history of China's private economic development, the rise of the Lü Qiangguang family can be described as a splendid business textbook. This family business, which started in a hardware workshop in Zhejiang, has transformed into a business empire spanning manufacturing, real estate, finance, and technology after more than thirty years of development.
The latest news indicates that this low-profile family may enter the Macau gambling and tourism industry, currently negotiating with the famous luxury hotel "Louis XIII" in Macau.
In the early 1990s, Lü Qiangguang keenly seized the opportunity of China's manufacturing boom and founded a hardware accessories factory in Wenzhou. Unlike the extensive management common at the time, he insisted on the principle of "quality builds the factory" and was the first to introduce German production equipment, gradually developing the small workshop into an important supplier of mechanical parts in East China. After 2000, the enterprise completed the transformation from OEM to its own brand, accumulating the family's first pot of gold.
Precise positioning in real estate layout
During the global financial crisis in 2008, when most real estate companies were contracting, Lü Qiangguang did the opposite and aggressively acquired high-quality land in the Yangtze River Delta region. His developed "Metropolitan series" commercial complexes, with the precise positioning of "metro cover + community commerce," have been hugely successful in second and third-tier cities. In 2015, he transitioned to the long-term rental apartment market, and the current scale of operations has entered the top five nationwide.
In recent years, the family's investment map has continued to expand:
Financial field: holding two city commercial banks, participating in three private equity funds
New energy: photovoltaic power station installed capacity ranks top three among private enterprises
Biopharmaceuticals: investing in innovative drug research and development companies
Technology sector: layout in artificial intelligence, big data fields
Macau's hotel industry's new prey
According to insiders in Macau's tourism industry, the Lü Qiangguang family is in deep negotiations with the original shareholders of Macau's "Louis XIII" hotel. This hotel, known for its French court style, is seeking a transfer due to the original shareholders' financial issues. If the transaction is completed, it will be the family's first foray into the gambling and tourism industry, marking a leap from industry to service industry in its business map.
Analysts point out that the Lü family's choice to enter Macau at this time may be based on three considerations:
The obvious recovery trend of Macau's tourism industry
Hotel asset prices are at a low
Consistent with the family's "counter-cyclical investment" strategy
Facing the management challenges brought by business diversification, the family has taken innovative measures:
Establishing a "family council" decision-making mechanism
Implementing a professional manager system in core enterprises
The third generation members are sent to various sectors for experience
Setting up a family charitable foundation
Lü Qiangguang once publicly stated: "The real family inheritance is not the transfer of wealth, but the continuation of business wisdom." Today, this business empire is expanding its territories at its unique pace, while adhering to its industrial roots and continuously exploring new realms. The potential layout in Macau's hotel industry may write a new chapter in its business legend.
