Chinanews client, Beijing, September 18th (Zuo Yukun) Two years ago, he was a tycoon of the top 100 real estate companies and a tens of billions of wealth on the Hurun Rich List. Two years later, he was rewarded with a huge amount of money and real estate. "Lao Lai" being auctioned.

What happened in the past two years of Chen Jianming, the actual controller of ST Zhongchang, a listed company?

Ten billionaires' real estate was auctioned, and the court issued a

tens of millions reward announcement

　　Recently, the Ali auction platform showed that in the next 25 days, 4 courts will auction multiple properties and parking spaces under the name of Chen Jianming and related companies in 5 cases, with a starting price of nearly 280 million yuan.

One of Chen Jianming's auctioned properties.

screenshot

　　Chen Jianming is the actual controller of the A-share listed company ST Zhongchang. Sansheng Hongye, who is in charge, was ranked among the "Top 100 Chinese Real Estate Companies" in 2018. In 2019, he also ranked 398th on the Hurun Rich List with 10 billion assets.

　　However, not long ago, a reward notice issued by the Intermediate People’s Court of Qingdao City, Shandong Province ("Qingdao Intermediate Court") attracted attention: because the person subject to enforcement refused to perform the debt, interest and liquidated damages of 100 million yuan, the applicant for enforcement Apply to the court for the announcement of the execution reward to collect clues on the property of the person subject to execution, and pay the reward according to 10% of the actual execution money in place, which is a maximum of 10 million yuan.

　　Chen Jianming was offered a 10 million reward this time because of private lending disputes.

The judgment document shows that in July 2019, Shanghai Sansheng Hongye Investment (Group) Co., Ltd. borrowed 100 million yuan from Qingdao Tiantai Real Estate Development Co., Ltd. and Qingdao Tiantai Real Estate Co., Ltd. for liquidity turnover and the loan period For 15 days.

However, after Sansheng Hongye repaid the interest of 3 million yuan, it failed to return the principal and interest, and Chen Jianming and others assumed joint and several liabilities as the guarantor.

If you don’t be a pig on the tuyere, you can’t become an eagle on the tuyere.

　　Public information shows that Chen Jianming was born in Zhejiang in 1956. He went to sea to do business in 1993 and then set foot in real estate business. Yijingyuan, Sansheng Real Estate, and Sansheng Hongye Investment Group are all his representative projects.

In 2007, Chen Jianming backed the door to the Hualong Group, which focuses on aquaculture, and listed Zhongchang Shipping.

　　“We don’t want to be a pig on the vent, but an eagle on the vent." At the company’s mid-term meeting in 2015, Chen Jianming told employees: Pigs can’t fly. If pigs fly, they will eventually die miserably; they must become eagles. Only by learning the skills of flying can we break through the bottleneck of the industry.

A reward announcement issued by the Intermediate People's Court of Qingdao City, Shandong Province.

Screenshot from the official website of Qingdao Intermediate People's Court

　　But Chen Jianming, who wanted to be an eagle, also failed to fly.

After proposing the "Three-Year 100 Billion" plan, Chen Jianming continued huge acquisitions and large-scale expansion of land purchases, causing the company to build up debt.

　　According to information disclosed by the Shanghai Stock Exchange, from April 2016 to August 2019, Sansheng Hongye issued bonds amounting to 9.38 billion yuan, with interest rates ranging from 7% to 8.4%. Real estate projects in fourth-tier cities.

　　The pressure to repay debts rose rapidly, and Chen Jianming also "borrowed money" from employees and issued loans under the name of wealth management products.

Thousands of employees and their family members have invested a total of 800 million yuan, of which about 680 million yuan of the employee's financial principal has not been paid. This also staged the scene of "the company is thundering, all parties begging for money, and the chairman crying".

　　At that time, some people in the industry commented that when the turning point of the trend of capital "going to real estate" comes, if you do not understand the current affairs and do not follow the general trend, you will still desperately increase leverage until the debt reaches several times the net assets. As willful as in the past, you will have to endure the consequences of a broken capital chain.

　　In January 2021, Sansheng Hongye filed for bankruptcy.

At the end of May, Chen Jianming was "blocked" by the Securities Regulatory Commission for his previous manipulation and control of ST Zhongchang's stock price, confiscating more than 11 million illegal gains, and imposing a 10-year ban on the securities market.

　　In addition, the Tianyan Check showed that since 2019, Chen Jianming has been issued 11 orders for restraint by the court, and he has become a dishonest person 11 times. The proportion of non-performance is 100%, and the total amount of execution exceeds 13.2 billion yuan.

　　"I am also very sad. If those projects can be solved, I think they can always be solved." At the debt collection scene in 2019, Chen Jianming once said so in tears.

But two years have passed, but only tens of millions of reward announcements and real estate are being auctioned.

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