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'Retail king' Xu Liusheng sells Hong Kong luxury flat for about HK$115 million, nearly doubling in value over 20 years
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Xu Liusheng, a prominent Chinese retail investor known as the 'most bullish retail investor,' has reportedly sold a luxury apartment at Grosvenor Place in Hong Kong's Repulse Bay for approximately HK$115 million (US$14.7 million). The 1,975-square-foot unit, purchased for about HK$55 million in October 2007, has appreciated by roughly 109% over nearly 20 years. Xu, 58, a Fudan University graduate and former chairman of Shenzhen Kaifu Investment Development Co., is known for high-frequency trading strategies. He gained fame for leveraging during the 2008 market downturn. However, in 2017, China's securities regulator fined him a total of about HK$111 million for manipulating 37 stocks in 2015. Separately, in November 2025, Xu reportedly bought a HK$342 million house in Deep Water Bay from a relative of雅居乐 Group chairman Chen Zhuolin. The report is based on Hong Kong 01 media and public records.
Source report
Xu Liusheng, widely known as one of China's "most high-profile retail investors," has recently resurfaced in Hong Kong's luxury property market.
Sale of Grosvenor Place Unit
On September 22, according to Hong Kong 01, Xu Liusheng is believed to have sold a mid-level unit at Grosvenor Place, 117 Repulse Bay Road, for approximately HK$115 million.
- Property size: Approximately 1,975 square feet (saleable area)
- Included: One parking space
- Transaction price per square foot: Approximately HK$58,200
Purchase History and Profit
Property records show that the original owner of the unit was Xu Liusheng. He purchased the property in October 2007 for approximately HK$55 million, holding it for nearly 20 years.
Based on the reported sale price of around HK$115 million, the property has appreciated by approximately HK$60 million on paper, representing a gain of about 109% from the original purchase price.
Background on Xu Liusheng
According to public records, Xu Liusheng was born in 1968 and is currently 58 years old. He graduated from the Junior Class program at Fudan University and previously served as Chairman of Shenzhen Kaifu Investment Development Co., Ltd.
Per corporate registry data from Tianyancha, Xu Liusheng is currently a shareholder in the following entities:
- Guangzhou GF Xinde Phase I Health Industry Investment Enterprise (4.9669% stake)
- Shenzhen Kaifu Venture Capital Investment Enterprise (21.6216% stake)
- Shenzhen Bajie Tourism Technology Co., Ltd. (30.7061% stake)
Investment Style and Market Reputation
Xu Liusheng has spent many years navigating the securities market, developing a distinctive profit model centered on high-frequency trading to achieve deterministic returns and compound growth.
During the significant downturn in the Hong Kong stock market in 2008, he reportedly used leverage to enter the market and buy at the bottom, achieving substantial asset growth in a short period.
Due to his influence and trading style—particularly in the Shenzhen market—Xu has earned the reputation of being one of the "most high-profile retail investors."
Regulatory Penalties
Despite his long-standing success in capital markets, Xu Liusheng has also faced regulatory sanctions.
In June 2017, the China Securities Regulatory Commission (CSRC) issued an administrative penalty decision, finding that Xu had manipulated 37 stocks in 2015 through continuous trading, large-scale limit-up orders, and price ramping. These actions were deemed to constitute market manipulation.
The CSRC ordered the confiscation of his illegal gains of RMB 37.017 million and imposed a fine of RMB 74.0341 million, bringing the total penalty to approximately RMB 111 million.
Previous Luxury Property Purchase
Prior to selling the Repulse Bay Road property, Xu Liusheng had purchased another luxury home in the same area.
In November 2025, market sources reported that Xu acquired a house at 39 Deep Water Bay Road from parties related to Chen Sile, son of Chen Zhuolin, Chairman of Agile Group Holdings Limited (03383.HK), for HK$342 million.
- Property size: Approximately 3,927 square feet (saleable area)
- Includes: Garden, rooftop terrace, and two parking spaces
- Transaction price per square foot: Approximately HK$87,100
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Source
网易财经Eastern