author丨City boundary Feng Chenchen
editor丨Lang Ming
Eighteen hours after the "molesting of young girls" scandal was confirmed, Xincheng Department experienced a sharp decline!
html In early trading on July 4, among the three listed companies in the Xincheng Group, the A-share Xincheng Holdings fell by the limit, and its market value evaporated by 9.6 billion yuan; the two Hong Kong stock companies, Xincheng Development Holdings plummeted 12.94%, Xincheng Yue Service It plummeted 10.06%, and its market value evaporated by 24.3 billion Hong Kong dollars (approximately 21.4 billion yuan) in two days. Cumulatively, the market value of Xincheng Group has evaporated by more than 30 billion yuan among the three companies.The city has found through public information that by the end of 2018, Wang Zhenhua, the person involved in "molesting young girls", held 4.2 billion shares of Xincheng Development Holdings, with a current value of 29.4 billion Hong Kong dollars, approximately 26 billion yuan; Xincheng Yue 6 100 million shares, currently worth 3.5 billion Hong Kong dollars, or about 3 billion yuan.
In addition, Wang Zhenhua also achieved control over New City Holdings , a dark horse of Chinese real estate companies, by controlling Fuyu Development and Changzhou Derun. These two companies hold a total of 41.5 billion shares of New City Holdings, worth 57.6 billion yuan.
As of the close of trading on July 3, market circles had calculated that Wang Zhenhua of the above three listed companies alone might be worth nearly 100 billion yuan, but after one night, more than 10 billion yuan had evaporated.
On the evening of July 3, eight hours after the scandal was confirmed, Xincheng Holdings issued an announcement stating that the company’s actual controller and chairman Wang Zhenhua was criminally detained for personal reasons and elected director and president Wang Xiaosong to serve as the second term Chairman of the Board of Directors, Wang Zhenhua will continue to serve as director of the second term of the Board of Directors.
Wang Xiaosong was born in December 1987 and is the only son of Wang Zhenhua. He graduated from Nanjing University in July 2009 and joined Xincheng in August of the same year as a civil engineer in the Engineering Department of Changzhou Company. In February 2013, Wang Xiaosong was appointed president of Xincheng Real Estate, and later served as general manager of the board of directors of Xincheng Holdings and president of the residential division. At only 26 years old, he became the youngest president of an A-share listed company.
But what is interesting is that on January 22, 2016, Xincheng Holdings announced that Wang Zhenhua was under investigation by the Changzhou Wujin District Discipline Inspection Commission for personal reasons. However, half a year after he completed the investigation and returned to the company, Wang Xiaosong resigned as president and was replaced by Wang Zhenhua took over. Until August 24, 2018, New City Holdings announced again that Wang Xiaosong was once again appointed as the president of New City Holdings .
Sky Eye Check shows that Wang Xiaosong has 24 companies under his name, but in addition to serving as a supervisor in Jiangsu Xincheng Lanke Investment Co., Ltd. with a registered capital of 80 million yuan, and as a shareholder in Shanghai Xinqi Investment Co., Ltd. with a registered capital of 77 million yuan, Other companies under his name either show former employment or have been cancelled.
18 hours after the "molesting of young girls" scandal, Xincheng's stock price plummeted, and 30 billion was wiped out.
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