Zhu Xingliang's Golden Mantis: Over a billion in cash reserves, able to withstand three real estate company crises

The resilience of Jiangsu Gold Mantis is worth noting. When Evergrande’s risk erupted, this leading home decoration and design company faced bad debts of up to 8.2 billion yuan in accounts receivable. Industry experts generally believe such a blow would be enough to push any decoration company into the abyss, but Gold Mantis survived. Not only that, when Country Garden and Sunac successively encountered risks, Gold Mantis once again managed to resolve the crisis.

Confidence Supported by Billions in Cash: Why Gold Mantis Is the Most Resilient

Gold Mantis’s financial data tell the truth. As of now, the company still holds more than 5 billion yuan in cash reserves, with virtually no interest-bearing debt. This multi-billion cash pool and extremely low debt structure have become a solid fortress for the company to withstand risks. Meanwhile, the company maintains a large team of 50,000 employees, including over 10,000 employees in its listed entity, indicating that even after suffering significant losses, Gold Mantis still retains strong profitability.

Compared to other decoration companies affected by real estate risks, Gold Mantis performs notably better. Those peers with aggressive expansion and high debt levels often collapse under a single shock, but Gold Mantis can resolve issues layer by layer.

Victory Through Low-Debt Operations: The True Rewards of a Restraint Strategy

Gold Mantis’s success lies in the rational decisions of its management. During the peak of industry development, when many companies were aggressively diversifying and expanding, Zhu Xingliang insisted on a conservative strategy of low-debt operations. Although this restraint may have limited growth in the short term, in the long run, it has become a protective moat.

It is worth noting that even after enduring risks from multiple real estate companies such as Evergrande, Country Garden, and Sunac, Gold Mantis’s business collaborations with these companies are still steadily shrinking and are now at very low levels. Meanwhile, the company’s newly launched office building this year symbolizes that the enterprise is still moving forward rather than falling into difficulties. The multi-billion cash reserves combined with near-zero interest-bearing debt give Gold Mantis an unparalleled risk resistance capability in the industry.