For Liu Canglong and Hongda Group, which has been in charge for many years, this autumn is different from previous years. In October, under a verdict, one of Hongda's most important assets was about to fall into the hands of others.
After the Liu Han case, which was closely related to him, Liu Canglong and his Hongda Industrial Empire frequently experienced turmoil, and Liu Canglong also disappeared in public for a long time. Last fall, Liu Canglong reappeared in public and proposed the "one trillion" asset target to attract outside attention. However, after returning again, Liu Canglong and Hongda's "Empire" not only lost their glory, but also encountered "defense in the past year".
days ago, the news of the change of control announced by Hongda Co., Ltd. has attracted attention from the outside world. What is little known is that not only Hongda shares, but Hongda Group, which Liu Canglong has built over the past 30 years, will also change its ownership. Sources told the Beijing News reporter that Liu Canglong had planned to "retire".
14 years ago fermented
core assets were sentenced to "invalid"
On the afternoon of October 9, Hongda Co., Ltd. announced that the company recently received the "Civil Judgment" of the Yunnan Higher People's Court , confirming that the 60% equity of Yunnan Jinding Zinc Co., Ltd. held by Hongda Group and Hongda Co., Ltd. is invalid and compensates the corresponding profits.
In addition, after deducting the capital increase of RMB 496 million that has been paid, Hongda Co., Ltd. will compensate Jinding Zinc Industry for illegal profits from 2003 to 2012 within 15 days from the date of the effectiveness of the judgment and the interest on the bank's working capital loan for the same period until the date of payment of the aforementioned funds. Under the jail4
judgment order, one of Hongda shares' major business pillars was shaken.
As of June 30, 2017, Jinding Zinc Industry's total assets were 4.176 billion yuan, accounting for 41.84% of listed companies. In the first half of the year, Jinding Zinc Industry's operating income was 1.1 billion yuan, accounting for 53.28% of the listed companies; its net profit was 130 million yuan in the same period, accounting for 104.53% of the listed companies.
The actual controller of Hongda Co., Ltd. is Liu Canglong, who is the cousin of Liu Han, the Sichuan black boss who has been executed, and the founder and chairman of the board of directors of Hongda Group. Liu Canglong was elected as a member of the National People's Congress twice in 2003 and 2008. In 2013, Liu Canglong was appointed as a member of the National Committee of the Chinese People's Political Consultative Conference. The judgment result of
is not without warning.
In July 2003, Liu Canglong's Hongda Group intervened in the development of the largest lead-zinc ore in Asia, the Lanping lead-zinc ore. The value of this ore is considered to be as high as hundreds of billions of yuan. Lanping lead-zinc ore is the main asset of Jinding Zinc Industry. However, the legitimacy of Liu Canglong's ownership of this large mine has been questioned for a long time.
In 2013, Yang Weijun, former vice chairman of the Yunnan Provincial Committee of the Chinese People's Political Consultative Conference, publicly reported through the Internet that the Lanping Lead-Zinc Mine worth 500 billion yuan gave Sichuan private owner Liu's 60% control for 1 billion yuan.
In addition, in December 2015, the first instance of the Intermediate People's Court of Honghe Prefecture, Yunnan Province held a public hearing on the case of bribery and bribery by former director of the Yunnan Geological and Mineral Exploration and Development Bureau Li Xiaoming involved in the bribery and bribery of the unit, the public prosecution agency accused that from June 2000 to June 2005, during the investment and development of Hongda Group in Lanping Lead-Zinc Mine in Nujiang Prefecture, Yunnan Province, Li Xiaoming sought benefits for the company, and illegally accepted RMB 1 million in cash from Hongda Group Chairman Liu through others at his home one day at the end of 2003.
In February 2016, the verdict was announced on the official website of the Honghe Intermediate People's Court. It showed that the court "tested that Li Xiaoming had accepted bribes of 1 million yuan." However, the verdict was not mentioned by the Honghe Intermediate People's Court at that time.
In this case, Yunnan Metallurgical Group and others said, "During the process of capital increase and share expansion and equity change (Jinding Zinc Industry) increased, expanded the capital and expanded the shares and changed the equity, the defendant maliciously colluded with relevant parties, violated relevant legal provisions and transaction procedures, signed a contract and completed relevant procedures, seriously harming the national interests."
htmlOn the evening of October 10, Hongda Co., Ltd. announced that the company was dissatisfied with the "Civil Judgment" of the Higher People's Court of Yunnan Province. The board of directors agreed to the company appeal to the Supreme People's Court for the judgment, requesting the Supreme People's Court to revoke the first-instance judgment in accordance with the law, safeguard the company's legitimate rights and interests, and protect the interests of all shareholders, especially small and medium shareholders.Liu Canglong wants to give up Hongda
html Only at the beginning of 1 year raised the target of trillions html On the evening of September 11, Hongda Co., Ltd. announced that the company received a notice from the largest shareholder Hongda Industrial and Sichuan Taihe Real Estate Group Co., Ltd., and learned that Hongda Industrial is carrying out major matters, which may lead to a change in the company's actual control rights. The company's stock will be suspended from trading on September 12 and will not exceed 5 working days. htmlOn the evening of September 18, Hongda Co., Ltd. released a detailed report on equity changes, and Taihe Group plans to spend a total of 4.3 billion yuan to achieve its controlling stake in Hongda Co., Ltd.This means that after withdrawing from Jinlu Group in 2013, Liu Canglong will give up the last listed company he owns.
Few people noticed that Liu Canglong was about to "say goodbye" not only the listed company Hongda Co., Ltd., but also the huge Hongda Group, including Hongda Co., Ltd.
sorted out the equity change letter. After the completion of this equity transfer, Taihe Group will hold 43.4% of Hongda Group's equity, and will hold 36.6% and 20% of Hongda Group's equity through Hongda Industrial and Guangpeng Trading, respectively, achieving a total of 100% of holding . Hongda Group, created by Liu Canglong, is about to change hands.
Hongda Group, with Hongda shares as its core, is a top 500 enterprise in China. Its industries cover six major sectors including industry, mining, finance, real estate, trade and investment, with assets under management exceeding RMB 600 billion, more than 20,000 employees, and 60 domestic and foreign member enterprises.
Recently, when mentioning the change of the actual controller of Hongda Co., Ltd. and Hongda Group, a source who did not want to be named told the Beijing News reporter, "Now he (referring to Liu Canglong) is about to retire."
For Liu Canglong, this time a year ago was a different situation. In his New Year's message in 2017, Liu Canglong even proposed the "trillion" goal: "During the 13th Five-Year Plan period, we will strive to build Hongda Group into a modern and international consortium with more than one trillion assets under management...." It has been a month since the announcement of the listed company of
was released. At the Hongda Group production base in Shifang, the news that Liu Canglong intends to leave has not yet spread within Hongda. Many Hongda employees interviewed by the reporter were not aware of this.
"Hongda was managed by him (Liu Canglong)." An employee could not believe at first that Liu Canglong was about to say goodbye to Hongda. But he said that he still has confidence in Hongda's future. "(Hongda) has 20,000 employees, and the social benefits are placed here." He said, "Although something happened to Liu Han in recent years, isn't it still producing as usual here?"
was affected by the Liu Han case and faded out of
and "returned" and tried to protect Sichuan Trust
At the end of September 2016, Liu Canglong "disappeared" from public about 20 months later. Some media quoted the statements of Hongda Group people that Liu Canglong became the party secretary of its Sichuan Trust and "returned to the world after losing contact for 20 months."
In the years before this, Liu Canglong's cousin and Sichuan gangster Liu Han were later executed. At the 2014 Two Sessions, Liu Canglong, then a member of the National Committee of the Chinese People's Political Consultative Conference, claimed that he was only "a cousin far away" from Liu Han.
's initiative to "draw a line" failed to save him from the storm. Since then, Liu Canglong has been repeatedly rumored to be "invested". At the 2015 and 2016 Two Sessions, Liu Canglong, a member of the CPPCC, did not attend.
In the years when Liu Canglong was experiencing frequent storms, the "100 billion" goal he set for Hongda Group during the 12th Five-Year Plan period also failed and lost control of its listed company Jinlu Group. Nearly two years after
"missing", Liu Canglong's appearance at the end of September 2016 was at the time when the Sichuan Trust equity battle broke out. At this time, Sichuan Trust was the most profitable asset in Liu Canglong's hands. According to the 2016 annual report, Sichuan Trust's net profit in 2016 was 1.27 billion yuan.
On September 9, 2016, Sichuan Trust's second largest shareholder China Overseas Trust listed and transferred its 30.25% equity in Sichuan Trust on the Beijing Property Exchange, with a listing price of 3.75 billion yuan. Soon, including Yongtai Energy and Zhongrong Xindadu announced that it would participate in the bidding.
At that time, Sichuan Trust had 10 shareholders, including Hongda Group holding 32.04% of the shares, China Overseas Trust holding 30.25% of the shares, Hongda Shares holding 22.16% of the shares, Haoji Food Holding 5.04% of the shares, and Huiyuan Group Holding 3.84% of the shares.Among them, Hongda Group and Hongda Co., Ltd. are both under Liu Canglong.
htmlOn October 20, after 23 fierce auctions, Zhongrong New Da won and won 30.25% of Sichuan Trust's equity at a premium of 33% for 5 billion yuan. Zhongrong New Da became famous in this battle.However, Zhongrong Xinda soon encountered a "sniper" halfway. According to media reports in November 2016, Haoji Group, the fourth largest shareholder of Sichuan Trust, intends to join the equity competition by exercising the priority transfer rights to acquire the above 30% of Sichuan Trust's shares.
Beijing News reporter noticed that Haoji Group and Hongda Group are both the main shareholders of Shenzhen Hongding Wealth Management Co., Ltd. and Sichuan Chuanshang Development Holding Group Co., Ltd., and Haoji Group Chairman Yan Junbo and Liu Canglong have attended many public events at the same time.
Yan Junbo also admitted in an interview with the media that one of the reasons why he wanted to buy Sichuan Trust shares was that his previous cooperation with major shareholders was "very happy."
While Yan Junbo successfully sniped, Liu Canglong also took action.
On the night Zhongrong Trust won, Hongda shares controlled by Liu Canglong issued a suspension announcement stating that the major matters that the company is planning may constitute a major asset restructuring.
At the end of 2016, Hongda Co., Ltd. announced through an announcement that it plans to purchase equity of Sichuan Trust from Hongda Group, Haoji Food and Huiyuan Group through the issuance of shares. After the completion of this transaction, 60% of the equity of Sichuan Trust will be included in the listed company, and Sichuan Trust will also become a holding subsidiary of Hongda Co., Ltd.
After the announcement of the above listed company was released, there was no news about the change in Sichuan Trust's equity. On October 27, the reporter checked the industrial and commercial information of Sichuan Trust and found that its equity structure remained in the state before the auction.
In this equity battle, Liu Canglong made a timely comeback and saved the "city". During the Spring Festival in 2017, Liu Canglong delivered an ambitious New Year's message, proposing the aforementioned "trillion" goal.
The market and environmental pressure are under heavy
The industry under its umbrella is no longer the same as that of that time, except for Sichuan Trust, which had an equity war, from Sichuan Shifang, where Liu Canglong's founding place to the Yunnan mine thousands of miles away, Liu Canglong's "frontwind" has already started.
In Shifang, a small county town 60 kilometers north of Chengdu, the story of Liu Canglong starting his business is widely circulated: in the late 1970s, Liu Canglong borrowed 500 yuan to establish the democratic phosphorus fertilizer factory (the predecessor of Hongda Group), digging soil pits on the ground, and successfully experimenting with phosphorus fertilizer.
More than a year later, Liu Canglong's career grew bigger, and this period of history is considered to be the source of Liu Canglong's first pot of gold.
Several Hongda employees told reporters that Hongda Group has a phosphorus chemical base and nonferrous base in Shifang, a real estate company and a big hotel, and the acquired Linshan Digital Company. Hongda Group takes phosphate fertilizer as its initial industry and Shifang as its base.
As the industry that Liu Canglong made his fortune in the past, the phosphorus chemical base still contributes a lot of the performance of the listed company Hongda Co., Ltd. According to Hongda Co., Ltd.'s 2016 annual report, the chemical industry was 760 million yuan last year, accounting for about 18% of the total revenue.
htmlIn mid-October, a local dealer in Shifang told the Beijing News reporter that Hongda’s compound fertilizer is called Genting brand, but it is just average both nationwide and local. The brand he mainly sells now is not the Genting brand.With the decline in the industry in recent years, Hongda Co., Ltd.'s revenue in the chemical industry fell sharply by 35% last year. The 2016 annual report stated that the prices and demand for phosphorus chemical products are expected to decline further in 2017, and the situation will become more severe.
is different from the fertilizer and chemical industry that has experienced market decline, while Liu Canglong's zinc mine business has encountered environmental protection and public pressure.
htmlIn mid-October, a reporter from the Beijing News came to the Shigu Town Nonferrous Base, 16 kilometers southwest of Shifang City. Large exhibition boards such as "Study the Party Constitution and Party Rules and Be a Qualified Party Member" were placed at the prominent location of the gate. The reporter was not allowed to enter the factory area.On the road outside the gate, there were more than a dozen large trucks waiting to transport goods. In the alley next to each other, more than a dozen trucks were waiting for the pounds. A driver said that the trucks parked at Hongda’s door a few years ago could be hundreds of meters long.
An old employee told reporters that there are more than 10,000 people in Hongda Shifang base, more than 1,000 fewer than before.
In terms of equity relations, nonferrous bases belong to the listed company Hongda Shareholding System. On October 13, the reporter called Hongda Co., Ltd. Securities Department, and the other party said that the nonferrous metal base was still in production. She said that the layoffs were "uncertain and unclear".
equity was frozen by judicial
may not be able to "decently" exit
Many local people interviewed by reporters believe that Hundredth can survive until now is "impressive".
Chen Ming (anonymous), a Shifang native who has relatives and friends working at Hongda, believes that under the "double pressure" of the Liu Han incident and the overall downward trend of the non-ferrous industry, Hongda has not yet fallen. One of the reasons is the "family deposit" saved by making money in the early years, and the other reason is that it depends on Liu Canglong's subordinates who managed the company well when he was involved in the storm.
reporter noticed that many senior executives of Hongda Group have "rich resumes".
, such as Zhao Daoquan, the current "second-in-chief" of Hongda Group and vice chairman of the board of directors. Public information shows that Zhao Daoquan served in the Beijing Military Region and served as the Party Secretary of the Township Party Committee in Shifang City Minzhu Township from 1990 to 1994. Before joining Hongda Group in 1999, Zhao Daoquan served as assistant mayor and deputy mayor in Shifang City, the industrial gathering place of Hongda Group.
Mu Yue, chairman of Sichuan Trust, shows that he was the deputy county magistrate of Zhongxian and Yilong County, Sichuan Province, and the director of the Listed Company Supervision Department of the Sichuan Securities Regulatory Bureau.
Although many of his subordinates are effective, some things are still inevitably out of Liu Canglong's control: in the past few years in the "frontwind", the actual management rights of Jinding Zinc Industry have been replaced, and Liu Canglong's executives have been eliminated.
According to the reporter's interview, Jinding Zinc Industry has actually been managed by Yunnan Metallurgical Group in recent years. Industrial and commercial data show that Tian Yong, chairman of Yunnan Metallurgical Group, became the legal representative of Jinding Zinc Industry in 2015. Before Tian Yong, the legal representative of Jinding Zinc Industry was Yang Xi, who served as the deputy general manager of Hongda Co., Ltd.
"Since last year, (Hongda) has planned to give up this mine," a person close to Hongda told reporters, "The question is whether to give up in a decent way or give up in another way."
The person said that one of the difficulties faced by Hongda before this was "environmental pressure."
For HundredDa, the court's judgment was invalid and forced to give up, which is obviously not a "decent way".
Judging from the current situation, Liu Canglong’s journey of “retirement” is not smooth.
According to Hongda Co., Ltd. on September 18, since the total 82% of Hongda Industrial's equity held by Hongda Group and Liu Canglong was frozen by the judicial system and could not be transferred, and related matters still require administrative permission from relevant departments, the equity transfer project cannot be continued before. Later, the Shanghai Stock Exchange disclosed an inquiry letter to Hongda Co., Ltd., which has not yet responded to.
Anxin Trust has a cooperative relationship with Hongda. According to the announcement of Hongda Co., Ltd., "Hongda Industrial and Hongda Group did not promptly notify Anxin Trust on the change of controlling rights. To this end, Anxin Trust filed a lawsuit with the Shanghai High Court and applied for property preservation measures, with the amount of the litigation subject amount reaching 1 billion yuan."
htmlIn mid-October, a reporter from the Beijing News came to the Hongda Co., Ltd. office located in Hongda International Plaza in Chengdu, with the door locked. At the headquarters of Hongda Group in the same building, a reporter from the Beijing News expressed his interview request to a person in charge, who said that the leader was on a business trip and did not accept an interview.At the headquarters of Hongda Group, you can still see the words Liu Canglong and the words Hongda - "If you are a big one, the dragon will soar into the sea, and if you are a big one, you will help the world."
Beijing News reporter Zhao Yibo Chengdu reports
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