Ex-Chairman of Hong Kong-Listed $203 Million Property Company Neo China Real Estate (Now Known as Shanghai Industrial Urban Development Group) Li Songxiao Surrendered to Hong Kong Anti-Corruption Agency (ICAC) after Fleeing for 13 Years in $42 Million (HKD 330 Million) Property Fraud by Inflating Profits & Assets
30th July | Hong Kong
The ex-Chairman of Hong Kong-listed property company Neo China Real Estate (Now known as Shanghai Industrial Urban Development Group with $203 million market value) Li Songxiao had surrendered to the Hong Kong anti-corruption agency (ICAC, Independent Commission Against Corruption), after fleeing for 13 years in $42 million (HKD 330 million) property fraud by inflating profits & assets of Neo China Real Estate. Shanghai Industrial Urban Development Group – Shanghai Industrial Urban Development Group Limited (“SIUD”) (0563.HK) is held by Shanghai Industrial Holdings Limited (“SIHL”) (0363.HK), the flagship of Shanghai Industrial Group. — A Hong Kong Stock Exchange main board-listed enterprise, it invests in real estate development, operation and other related businesses in China, serving its parent Shanghai Industrial Group as an integrated real estate business platform with the most promising prospects. SIUD was born in June 2010 after SIHL acquired 45.02% equity of Neo China Real Estate, gave it the new name and completed the integration. As one of the leading urban real estate developers, the Company sees for itself the mission of satisfying demand for high quality properties among urbanites and businesses, and in doing so helps foster all-round urban developmentand transform urban lifestyle. Currently, the Company has development projects in first, second and third tier cities including Shanghai, Beijing, Tianjin, Chongqing and Xi’an. Among them are high-end residential communities, office buildings, shopping arcades, star-grade hotels and apartment ownerships. It is with a global perspective that SIUD maps out its strategy pivoted on industrial and capital operations to accelerate development. In 2011, SIUD acquired 59% of the equity of Shanghai Urban Development (Holdings) Co., Ltd. (“UDCN”). The Company also has a 3-year development plan to craft an “arch-shape” footprint with Shanghai in the center and reach extending to second and third tier cities in the coastal and Yangtze River regions and the Yangtze River Delta, Bohai Rim and areas in mid-western China. Capable of highly efficient operation and riding on a first-class management model, SIUD is committed to making the league of property red-chips and becoming the most influential and valuable urban property developer in China.
“ Ex-Chairman of Hong Kong-Listed $203 Million Property Company Neo China Real Estate (Now Known as Shanghai Industrial Urban Development Group) Li Songxiao Surrendered to Hong Kong Anti-Corruption Agency (ICAC) after Fleeing for 13 Years in $42 Million (HKD 330 Million) Property Fraud by Inflating Profits & Assets
“
Ex-Chairman of Hong Kong-Listed $203 Million Property Company Neo China Real Estate (Now Known as Shanghai Industrial Urban Development Group) Li Songxiao Surrendered to Hong Kong Anti-Corruption Agency (ICAC) after Fleeing for 13 Years in $42 Million (HKD 330 Million) Property Fraud by Inflating Profits & Assets
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2025 Investment Day
- March - Hong Kong
- March - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
