The Mantis's Restraint: How the Golden Mantis Survived Three Crises of Explosive Failures

In the winter of the real estate industry, few decoration companies have managed to come out unscathed like Gold Mantis. Led by Chairman Zhu Xingliang, this leading decoration enterprise not only withstood the impact of Evergrande’s 8.2 billion yuan debt default but also safely navigated through the industry chain disruptions caused by Country Garden and Sunac. The secret behind this is not luck, but a disciplined management philosophy.

Surviving the Crisis Through Rationality in Advance

When Evergrande defaulted, the entire decoration industry trembled. As a major partner of Evergrande, Gold Mantis faced a potential bad debt of 8.2 billion yuan, enough to crush any ordinary company. But Gold Mantis survived, and even thrived. The reason is simple: years of low-debt operations gave the company enough confidence to absorb the shocks.

In its cooperation with Country Garden and Sunac, Gold Mantis also made decisive decisions—rapidly shrinking its business. Those once “honeymoon” deep collaborations have now been significantly reduced, with current business dealings almost negligible. This rational withdrawal prevented the company from being bound to a sinking ship.

Management Wisdom Behind the Financial Data

What best demonstrates Gold Mantis’s resilience is its financial performance. To date, the company still maintains over 5 billion yuan in cash reserves, with almost zero interest-bearing debt. In an environment where peers are struggling with financing difficulties and tight cash flow, this is especially valuable.

The company’s scale remains steady—employing 50,000 people, including over 10,000 in the listed company itself. This not only reflects social responsibility but also signals market confidence. A company willing to maintain its workforce during a crisis often has a better chance to seize recovery opportunities than competitors rushing to cut costs through layoffs.

From Restraint to Confidence: The Transformation Symbolized by the New Headquarters

Recently, Gold Mantis invested heavily in a new office headquarters, which has now been officially put into use. This building is not just a workspace but a physical embodiment of the company’s confidence. During the peak of the industry, Zhu Xingliang did not choose aggressive diversification but remained committed to its core business with restraint. Now, this rationality is transforming into the company’s core competitive advantage.

Gold Mantis’s story teaches us: surviving crises like a mantis often requires restraint rather than risk-taking.