How many assets were wiped out, and how many wealthy people’s wealth was reduced to zero! The market in the past two years has been called the "Meat Grinder for the Rich." On September 10, another wealthy company filed for bankruptcy. According to an announcement by *ST Oupu (for

Prior to this, *ST Oupu’s share price had fallen below the face value of 1 yuan. The company's market value has evaporated nearly 97% from its peak and is on the verge of delisting.

Data show that in 2018, the Chen Lihao family, the major shareholder of China Base Investment, ranked 13th on the Foshan rich list with a wealth of 7.1 billion. Today, China Base Investment and Chen Lihao, a member of the actual controller family, have been included in the list of dishonest persons subject to enforcement, and China Base Investment has also filed for bankruptcy.

According to Tianyancha, among the shareholders of China Base Investment, Shenzhen Hongta Asset Management Co., Ltd. holds 19.08% of the shares, and the company’s final shareholders are Hongta Securities , Huayuan Group and Shenzhen Innovation Investment.

Small loans bring down Chen Lihao?

Information from Sohu shows that Chen Lihao was born in 1968 in Lecong, Shunde, Guangdong. After graduating from high school, Chen Lihao first worked as an electrician in a local state-owned enterprise, and later as a salesman of water heaters. In 1993, he invested in a sales department of Lecong Township Enterprise Steel Trading Co., Ltd., taking the first step in to start . At that time, there were only three people in this sales department. Chen Lihao and his brother-in-law were the bosses, and my sister was both the accountant and the cashier. This sales department is the predecessor of Shunde Ziri Steel Trading Co., Ltd.

Later, Chen Lihao’s business grew bigger and bigger. In 1993, he got involved in the steel industry and successively founded Nanda Steel Pipe Industrial Co., Ltd., Shungang Flat Slitting Co., Ltd., Pujin Steel Trading Co., Ltd. and other steel companies. In 2002, Chen Lihao joined forces with two other private enterprises engaged in steel trade to establish Shunde Oupu Steel Co., Ltd., which focuses on deep processing of steel. In 2003, 400 million was invested to build the South China International Steel Logistics Center and a steel electronic trading platform.

*ST Oupu was listed on the Small and Medium-sized Board of the Shenzhen Stock Exchange in 2014. *ST Oupu's main business is intelligent logistics, steel, furniture, supply chain finance, etc. Its concepts are relatively "high-end", so in June 2015, the company was touted as a hundred-yuan high-priced stock. , the market value once reached 18.7 billion yuan, which could compete with the big bull stock Shanghai Steel Union at the time.

However, in 2018, *ST Oupu revealed that its small loan business was dragging down cash flow and fell into a debt overdue crisis. Land and real estate with a book value of 230 million yuan were also seized, and multiple bank accounts were frozen and forcibly deducted. At the end of last year, *ST Oppu announced that the controlling shareholder Foshan Zhongji Investment Co., Ltd. (Zhongji Investment) planned to hold 316 million shares of the listed company (accounting for 29.9% of the total share capital of the listed company). Guangzhou Bohui Investment Co., Ltd. (Bohui Investment Co., Ltd.) is irrevocably entrusted with all voting rights, convening rights, nomination and proposal rights, participation rights, supervision and suggestion rights, and other rights except property rights such as income rights and share transfer rights. Hui Investment) and Guangdong Shunkong Urban Investment Real Estate Co., Ltd. (Shunkong Urban Investment Real Estate) exercised. Behind Bohui Investment is the well-known Cedar Holdings. However, nothing happened in the end.

In February of this year, Cai Xiaoru, the actual controller of Dahua Intelligent , won two board seats of *ST Opu. It once brought some imagination to the market, but later it became silent. Currently, China Base Investment’s shareholdings have been completely frozen. *ST Opu’s bank account has also been frozen. What was once a star company has turned into a bad company riddled with problems.

*ST OP’s crisis formed last year. In the first half of 2018, the net cash flow generated by *ST Oupu's operating activities was -56 million yuan. At that time, the company stated that the main reason was the net withdrawal of funds from its wholly-owned subsidiary Oupu Small Loan. Oupu Small Loan mainly provides small-amount working capital loans, small-amount technological transformation loans, small-amount technology development loans, small-amount entrusted loans, small-amount comprehensive credit, and small-amount medium, long-term or short-term loans for small and medium-sized enterprises and individual industrial and commercial individuals. Loans.Its main businesses include "Quality Customer Loan Plan", conventional "offline loans" and nationwide "online loans".

*ST Opu is on the verge of delisting.

*ST Opu announced at the end of April this year. Due to illegal guarantees and the company's production and operation activities have been seriously affected and are not expected to return to normal within 3 months, the company's stock has hit other risk warnings. situation. The company will suspend trading for one day from the opening of the market on April 23, and resume trading from the opening of the market on the 24th. The stock abbreviation will be changed from "OPZhiwang" to "STOPPU", and the daily price increase or decrease of the stock will be limited to 5%.

According to the announcement , the company has discovered illegal guarantees of 1.341 billion yuan, which exceeds 10% of the company's latest audited net assets and seriously exceeds the relevant regulations of the Shenzhen Stock Exchange. At the same time, affected by unfavorable factors such as the seizure of land and real estate, overdue debts, frozen bank accounts, and litigation, *ST Oupu's credit has been affected, and the company's operating level has been affected to a certain extent. The company's commercial business has basically stagnated, and warehousing and processing Business has also been reduced, and operating activities have been significantly affected.

430htmlOn the 7th of April, *ST Oupu was issued an audit report with a disclaimer of opinion due to its negative audited net assets in 2018 and its 2018 financial accounting statements. The company's stock was subject to a delisting risk warning. The stock abbreviation was ST Oupu. Pu becomes *ST Oppu.

At present, the company's financial situation is worrying.

The company is still under investigation.

If *ST Oupu cannot turn around losses in the end, it will be delisted. Judging from the current situation, this possibility is increasing. The bankruptcy and liquidation of its major shareholder China Base Investment may lead to changes in the major shareholders, which may bring some hope. But judging from the current environment, it is still very difficult.

At the recent symposium on comprehensively deepening the capital market reform of the China Securities Regulatory Commission system, Yi Huiman, chairman of the China Securities Regulatory Commission, said that listed companies should be vigorously promoted to improve their quality. Formulate and implement an action plan to promote the improvement of the quality of listed companies, effectively control both import and export, and strive to optimize increment and adjust stock. Strictly control the quality of IPO review, give full play to the role of the main channel for mergers, acquisitions and reorganizations in the capital market, unblock diversified delisting channels, and promote the survival of the fittest for listed companies. This may mean that some listed companies with weak quality may be cleared out of the capital market.