Recently, South China University of Technology, often referred to as the "Little Tsinghua of South China," received a substantial donation—110 million yuan. The donor was Century Golden Resources Group, a major Beijing-based conglomerate.

Huang Tao, the heir and current leader of Century Golden Resources, personally attended the donation ceremony. His father, Huang Rulun, a Fujian native, made his first fortune by venturing to the Philippines before returning to China to establish Century Golden Resources.

Initially focusing on real estate projects in Fuzhou, Huang Rulun later shifted his business focus to Beijing. The company adopted a large-scale urban development model, accumulating vast wealth through projects like Beijing Century Garden, Beijing Century City, Century Golden Resources Grand Hotel, Century Plaza, and Century Golden Resources Shopping Mall.

Huang Rulun was known as a "red-hat businessman," leveraging political connections to fuel Century Golden Resources' nationwide expansion. He once remarked, "A company's success depends on wisdom and opportunity, not money"—a statement that underscored his reliance on political ties.

As an overseas Chinese investor, Huang Rulun even funded a large-scale rehabilitation center in the Philippines. However, his deep involvement in political-business relationships eventually backfired. In 2017, he was implicated in the corruption case of Bai Enpei, former Yunnan Party Secretary, where Century Golden Resources was accused of bribing Bai’s wife with expensive jade.

During Bai’s tenure, Huang Rulun heavily invested in Yunnan’s real estate market, developing projects like Kunming Century City and Xishuangbanna Riverside Orchard Resort. Despite his philanthropic contributions—including donations exceeding 200 million yuan to Yunnan’s education sector—Huang Rulun was eventually stripped of his political roles due to the scandal.

With Huang Rulun stepping back, his son Huang Tao took over. Today, Century Golden Resources remains a diversified conglomerate with investments totaling 400 billion yuan, spanning real estate, hospitality, healthcare, and smart mobility. The Huang family ranks 172nd on China’s rich list with a net worth of 35.5 billion yuan.

Recently, Century Golden Resources donated 110 million yuan to South China University of Technology, despite having no alumni ties to the institution. The donation coincides with the company’s acquisition of a high-end real estate project in Guangzhou—Century Golden Resources · Tianheyuan Residences—originally owned by two defaulted developers: Sunshine City and Modern Land.

The project, launched in 2023 with prices around 90,000 yuan per square meter, struggled with slow sales. To boost demand, prices were slashed to as low as 56,000 yuan, causing early buyers to suffer significant losses.

Notably, the project is adjacent to South China University of Technology Affiliated Experimental School, and part of the donation is earmarked for the school’s development—a strategic move to enhance the property’s appeal.

Century Golden Resources acquired majority control of Tianheyuan Residences after Sunshine City and Modern Land defaulted. However, minority stakes are held by two private firms—Guangzhou Shunyi Investment and Beijing Dingfan Enterprise Management—likely acting as proxies for the original developers.

This reflects a broader trend where distressed developers discreetly transfer assets to private entities, shielding valuable projects from creditors. In this case, Century Golden Resources’ takeover not only secures a lucrative project but also obscures the involvement of the failed developers.

Despite the project’s rocky start, Century Golden Resources stands to profit handsomely, leveraging its brand and strategic donations to revitalize sales—all while providing cover for its predecessors’ collapse.