The former Zhuhai The richest man, Liang Shezeng's family, has now filed a lawsuit with the listed company Shirong Zhaoye.
Author | Su Ying
Edit丨Lu Yongzhi
Source | Wild Horse Finance
Founded in 1998, Shirong Zhaoye (002016.SZ), once a famous "landlord" in Zhuhai. It is known as the "Three Musketeers of Zhuhai Real Estate" together with Gree Real Estate (600185.SH) and Huafa Co., Ltd. (600325.SH). In 2009, Liang Shezeng, the father of the founder Liang Jiarong, became the richest man in Zhuhai with assets of 2.7 billion yuan.
In recent years, Shirong Zhaoye has changed frequently. First, Liang Jiarong was investigated for suspected crimes, and then the company's executives resigned one after another, and the founder's family also sued each other with the listed company.
On March 23, Shirong Zhaoye announced that the second instance result of the proposal to sue the revocation of the president and change the legal representative of the controlling shareholder Liang Shezeng for prosecution and the revocation of the president and change the legal representative was released. Liang Shezeng's request for revocation was rejected, and the second instance upheld the original judgment.
Image source: Shirong Zhaoye Announcement
Liang Shezeng is the largest shareholder and actual controller of Shirong Zhaoye. He and his son Liang Jiarong hold a total of 74.09% of the shares in the listed company. The 2021 interim financial report shows that this part of the shares is frozen.
The Liang family and the listed company sued each other
The incident of Liang Shezeng suing the listed company was caused in 2020. On September 29, 2020, Shirong Zhaoye held a board meeting to review and pass the proposal to appoint a president and change the legal person, and the current president Li Xupeng took office. 10 days after the new president of
, Li Xupeng took the listed company to court on October 9, 2020.
Liang Shezeng requested the revocation of the board resolution of September 29, 2020 in the Civil Complaint. He pointed out that the convening procedures and voting methods of the board meeting violated the company's articles of association, and believed that when the equity involved in the case had been frozen, the relevant departments arranged personnel to serve as the company's president and legal representatives did not comply with the provisions on the preservation of assets involved in the fight against gangs.
In July 2021, the first instance of the case was heard, and the plaintiff's lawsuit was rejected. Houliang Shezeng was dissatisfied with the appeal. On March 23, 2022, according to the second instance results of Shirong Zhaoye’s announcement, the case was still upheld.
At the Beijing Yingke (Shanghai) Law Firm Chen Yuan said that as a listed company, Shirong Zhaoye needs to be made public for major matters, so from an external perspective, there are no flaws in the convening of the board of directors and the making of the resolution. Liang Shezeng believes that the resolution does not meet the requirements of asset preservation in combating gangs and is even more unfounded. The board of directors voted on the president and legal representative, and did not involve any property under the name of the founder Liang Jiarong.
In addition to Liang Shezeng suing the listed company, during this period, Shirong Zhaoye also filed a lawsuit against the Liang family.
On September 30, 2021, Shirong Zhaoye announced that he had sued Liang Jiarong and his close relatives.
Image source: Shirong Zhaoye Announcement
Shirong Zhaoye stated that from 2007 to 2011, Liang Jiarong illegally embezzled the company's property by forging false construction contracts; from 2011 to 2019, Liang Jiarong used the identity of Chairman Shirong Zhaoye to violate his loyalty obligations and accepted commercial bribes of about 450 million yuan through himself or other defendants in this case.
In response, Shirong Zhaoye requested to recover the unjust gains obtained by Liang Jiarong in damage to the interests of the company in accordance with the law, freeze the assets under the name of Liang Jiarong and his close relatives, compensate the company's losses, and request punitive compensation for , with a total of litigation subjects of html of 5.65 billion yuan.
The agency for this case is the Superior Court of San Mateo County, California, USA. At present, no new progress has been disclosed by the listed company.
Chen Yuan analyzed that Liang Jiarong is the founder of Shirong Zhaoye and is also the joint actor of Shirong Zhaoye’s actual controller. But from a legal perspective, Shirong Zhaoye is a legal entity with an independent personality. If Liang Jiarong commits multiple illegal acts in the name of the company and causes losses to the company's interests, he should indeed bear the corresponding responsibility. As the plaintiff, Shirong Zhaoye assumes the responsibility of whoever claims to , who provides evidence for , and requires Liang Jiarong to bear the responsibility, and must fully prove that there is a causal relationship between Liang Jiarong's behavior and the company's losses. At present, the evidence of Liang Jiarong's involvement in gangs obtained by the public security organs will be a favorable bargaining chip for Shirong Zhaoye.
Founder Liang Jiarong was notified that he was involved in gangs
Judging from the content of the two lawsuits, both seem to be related to the incident of Liang Jiarong's suspected crime, and this starts with Liang Jiarong's investigation.
Shirong Zhaoye was founded in 1998 and was founded in Zhuhai by Liang Jiarong.
In July 2016, Shirong Zhaoye announced that Liang Jiarong was sentenced to surveillance in for suspected money laundering crimes and was currently under investigation. At that time, Liang Jiarong was the chairman and president of Shirong Zhaoye.
In 2018, Liang Jiarong passed the position of president to his son Liang Weihao. At the same time, Liang Weihao also served as legal person, vice chairman and director of the company.
Only one year later, in 2019, members of the Liang family began to withdraw from the executive team of listed companies one after another. In July of that year, Liang Weihao resigned as the company's president, director and vice chairman; in December, Liang Jiarong resigned as the company's chairman and director, and the father and son all withdrew from then on.
In July 2020, Liang Jiarong was involved in a new case. At that time, according to an announcement released by Guangdong Provincial Public Security Department , Liang Jiarong, the former chairman of Shirong Zhaoye, was accused of being involved in gangs and being a suspect in gangs. In May of the same year, Shirong Zhaoye announced that Liang Jiarong's equity in six subsidiaries was frozen for suspected criminal crimes.
In fact, since Liang Jiarong was investigated in 2016, Shirong Zhaoye's executive team has been in constant turmoil. At that time, many management personnel of Shirong Zhaoye resigned, including president, director, independent director, chairman of the board of supervisors, and other positions. Among them, President Yan Jun has served in Shirong Zhaoye for more than 4 years.
Image source: Wind data
After the Liang father and son resigned from all positions in the listed company, the position of President Shirong Zhaoye has been constantly replaced. In March 2020, Liang Xiaojin, who had only been replaced by Liang Weihao as president for only 8 months, resigned, and Vice President Chen Yindong took over. However, less than half a year after taking over, Chen Yindong also resigned in September 2020. On September 29, 2020, the current president Li Xupeng took office.
Before joining Shirong Zhaoye, Li Xupeng had worked in government departments for a long time. He served as the chief engineer assistant of Guangzhou Post Bureau , deputy director of the Research Institute of Foshan Shengfa Development Co., Ltd., and deputy director of Zhuhai Science and Technology and Industrial Information Technology Bureau. His most recent job was the chairman of the supervisory board of Zhuhai Gree Electric Co., Ltd. According to the financial report, Li Xupeng does not hold shares in Shirong Zhaoye.
What is the future for Shirong Zhaoye?
Since the Chairman's suspected illegal announcement was disclosed on July 19, 2016, Shirong Zhaoye's stock price has experienced significant fluctuations. As of March 25, 2022, the total market value of Shirong Zhaoye was 4.8 billion yuan, a decrease of 1.116 billion yuan compared with July 19, 2016, a decrease of 18.87%.
Image source: Wind data
It is worth noting that although Shirong Zhaoye has experienced a series of changes, its operating performance has not been greatly affected.
In 2015, Shirong Zhaoye's total operating income was 1.349 billion yuan and his net profit was 62 million yuan. However, after Liang Jiarong was investigated in 2016, Shirong Zhaoye's net profit increased significantly.
From 2016 to 2020, Shirong Zhaoye's total operating income was RMB 1.433 billion, RMB 3.105 billion, RMB 2.353 billion, RMB 2.753 billion and RMB 2.948 billion, RMB 2.948 billion, RMB 888 million, RMB 911 million, RMB 801 million, RMB 881 million and RMB 834 million, respectively.
世荣兆业的大幅盈利，得益于2016年房地产市场回暖，特别是粤港澳、大湾区地区的红利开始释放。公司在珠海有着大量的土地，而这些土地储备，很多是由梁家荣于上世纪90年代低价拿到的地。
关于前董事长梁家荣涉黑，是否会涉及到历史土地拥有权问题。 At the performance meeting held in May 2021, Shirong Zhaoye stated that the company's existing plots have completed all procedures including the land price repaid in accordance with the law when obtaining land ownership, or when the nature of the land use and floor area ratio are adjusted. The ownership is clear and the procedures are complete. At present, no notice has been received from relevant government departments on the land price repaid again, and no new policies or matters indicate that the company has the obligation to pay the land price again.
不过，进入2021年，受行业政策调控及疫情反复等影响，世荣兆业前三季度业绩并不如往年。营收方面为11.34亿元，同比下降39.07%；净利润3.84亿元，同比下降40.59%。与此同时，世荣兆业在拿地方面表现也不积极。
财报显示，世荣兆业最后一次新增土储为2014年。当时，世荣兆业通过法拍的方式拿下两宗总建筑面积为22.7万平方米的商住用地。而2015年至今，世荣兆业的新增土地面积一直为0。
截至2021年中期，世荣兆业土地储备占地面积79万平方米，建筑面积为173万平方米。
In this regard, Shirong Zhaoye said that in the face of the downward pressure on the economy, the uncertain situation of the real estate industry and the regulatory background, the company will continue to pay attention to industry trends, seize opportunities, and adjust its land acquisition strategies in a timely manner to ensure the company's sustainable and healthy development.
In terms of performance, the top 10 sales of CRIC Zhuhai in 2021 shows that Huafa Co., Ltd., which is also the "Three Musketeers of Zhuhai Real Estate", ranks first, Gree Real Estate ranks seventh, but Shirong Zhaoye also has a name in it.
三十年河东、三十年河西，你觉得经历了一系列变动的世荣兆业未来将如何发展呢？ Welcome to leave a message in the comment area for discussion.
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