Beijing News (Chief Reporter Zhao Yibo) On November 12, a reporter from the Beijing News exclusively learned that the former private equity giant Tianxing Capital has now been listed as a dishonest debtor (commonly known as a deadbeat) by the Beijing court. Previously, Tianxing Capital decided to carry out a new round of private placement fundraising.
According to the national execution information platform, Beijing Tianxing Capital Co., Ltd. recently added a new information about breach of trust. The execution court is the People's Court of Haidian District, Beijing. The execution basis number is 2018 Beijing Chang'an Enforcement No. 118, and the filing time is August 2, 2018. The case number (2018) Beijing 0108 Enforcement No. 12805. The execution basis unit is the Beijing Chang'an Notary Office.
It is reported that the obligations determined by effective legal documents: 1. The total principal arrears is RMB 29.91 million; 2. Interest determined by the execution certificate; 3. Comprehensive pawning expenses determined by the execution certificate; 4. Penalty damages determined by the execution certificate; 5. The expenses for the applicant to realize the claim.
However, the person subject to execution "has all failed to perform", and the specific situation is "has the ability to perform but refuses to fulfill the obligation to determine the effective legal documents". The release date is October 31, 2018.
According to the industrial and commercial data query tool Qichacha, the organizational code of Beijing Tianxing Capital Co., Ltd. is 59768727-0, and the legal representative is Liu Yan, which matches the information of the national implementation information platform.
Previously, according to the China Times, the Haidian District People's Court of Beijing plans to conduct a judicial auction of several New Third Board equity assets of Tianxing Capital on the Taobao judicial auction platform on November 22, 2018. The auction targets include the equity of Shunda Intelligence (300,000 shares), Shanghai Zhiyuan (400,000 shares), Panoramic Network (340,000 shares), Chunsheng Traditional Chinese Medicine (710,000 shares), Ceyuan Shares (363,640 shares), Pepsi (630,516 shares) held by Beijing Tianxing Capital Co., Ltd., as well as the equity of Tiantai Baby (555,5556 shares) held by Beijing Tianxing Guangwu Investment Center, which controls by Tianxing Capital, with an asset appraisal price of 14.5306 million yuan. In fact, this is the second auction held by the Haidian Court. The first auction failed a month ago due to unsold auctions.
reported that the chairman of a private enterprise posted on a social platform, "How cold is the winter in the investment industry? Only those who have experienced it understand: At 1:11 a.m. on November 6, Liu Yan, the founder of Tianxing Capital, published a circle of friends, with the content of 'He is strong, the breeze blows on the hills, the he is strong, the bright moon shines on the river'. I'm fine, let's go to bed."
According to reports, Tianxing Capital was established in 2012 and is a professional venture capital management institution. Although it has not been established for a long time, this institution has developed very rapidly before. Public information from
shows that Tianxing Capital has invested in more than 500 companies, covering emerging industries such as TMT, cultural media, military industry, pharmaceutical and medical care, consumption upgrade, energy conservation and environmental protection, and high-end manufacturing. In the list of the New Third Board innovation layer officially released by the Stock Transfer System in 2017, 122 Tianxing Capital investment projects were selected. Therefore, Tianxing Capital is called a "private equity madman" by the outside world and was named the first place in "Investing in the Top 10 Best New Third Board Investment Institutions in 2016".
In August 2015, Tianxing Capital completed a private placement of 1.305 billion yuan, with a valuation of up to 30.1 billion yuan. However, with the release of new private equity listing regulations by the National Small and Medium Enterprises Stock Transfer System, Tianxing Capital, which has received the listing letter, has failed to participate in the New Third Board market. After the listing of
on the New Third Board failed, Tianxing Capital tried to "marry into A-shares".
In June 2017, the listed company Zhongke New Materials announced that the industrial investment fund ("Zhongke Dingtai Phase II") established by its subsidiary has reached an equity transfer intention with Tianxing Galaxy, Tianxing Chuanglian, Tianxing Galaxy parent company Tianxing Chuanglian and Liu Yan (hereinafter referred to as the transferor), and plans to acquire 40% of the equity of Tianxing Capital held by the transferor in cash, with the transfer price not exceeding 2 billion yuan. As a result, Tianxing Capital's valuation plummeted from more than 30 billion yuan to 5 billion yuan.
Zhongke New Materials also disclosed that Tianxing Capital's net profit in 2016 was approximately 276 million yuan, which is far lower than previous expectations. According to the public transfer letter in August 2015, Tianxing Capital management expected that the net profit for the whole year of 2016 will not be less than 3 billion yuan.
It is worth noting that the announcement of Zhongke New Materials also disclosed that the transferor promised that Tianxing Capital's cumulative net profit in the three years audited from 2017 to 2019 shall not be less than RMB 3 billion, and shall not be less than RMB 400 million in 2017, not less than RMB 500 million in 2018, and not less than RMB 600 million in 2019.
In May this year, Tianxing Capital announced on its official website that the first extraordinary shareholders' meeting of Beijing Tianxing Capital Co., Ltd. was held in 2018. The meeting voted to pass a number of proposals on the company's new round of private placement. "All shareholders expressed that they will continue to firmly support the development and growth of Tianxing Capital."
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