Zhongxin Finance, March 22. Recently, the Guangzhou court system announced that the whereabouts of Yao Zhenhua, chairman of Baoneng Group, were unknown.
The announcement involves a dispute over a financial loan contract between the Development Zone Sub-branch of Bank of Guangzhou Co., Ltd. and Guangzhou Baoshi Logistics Co., Ltd., Yao Zhenhua, Shenzhen Baoneng Investment Group Co., Ltd., and Shenzhen Jushenghua Co., Ltd.
Announcement screenshot
The announcement shows: Since your (Yao Zhenhua) whereabouts are unknown, in accordance with the provisions of Article 95 of the Civil Procedure Law of the People's Republic of China, a copy of (2021) Yue 01 Min Chu No. 1750 Civil Complaint, evidence materials, The notice of response, the notice of proof, the notice to inform members of the collegial panel, the online instructions for the judgment documents, and the integrity supervision card.
Company response: still working
On the 22nd, China Baoneng WeChat public account responded to the "whereabouts unknown" with an article "Chairman Yao Zhenhua inspects the resumption of work and production of Baoneng Auto's Shenzhen factory" with pictures and facts.
The article shows that on March 21, on the first day of the unblocking of the epidemic in Shenzhen, Yao Zhenhua, chairman of Baoneng Group, walked into the Shenzhen factory of Baoneng Motors to conduct a work inspection to fully understand the production and operation of the Shenzhen factory, and communicated with Baoneng who was present. The executives of the auto group and the management cadres of the Shenzhen factory had in-depth exchanges, and gave comprehensive supervision on the key tasks of the Baoneng Automobile Shenzhen factory in 2022.
Screenshot of the official account
According to the Beijing News, the relevant person in charge of Baoneng Group stated that the statement of "unknown whereabouts" was wrong. The relevant legal documents of the Guangzhou Intermediate Court were not successfully served, and the relevant legal documents were served by announcement. Now that the offline service has been successful, online The above announcement will be withdrawn in the near future.
At noon on March 22, Zhongxin Finance checked the website of the Guangzhou Intermediate People's Court and found that the announcement had been revoked.
Behind the bank's prosecution, Baoneng's capital chain is tense
The Guangzhou Intermediate People's Court announced that the Development Zone Sub-branch of Bank of Guangzhou Co., Ltd. sued and required Guangzhou Baoshen Logistics Co., Ltd. to repay the loan principal balance of 700 million yuan and interest of more than 14 million yuan.
Yao Zhenhua and Shenzhen Baoneng Investment Group Co., Ltd. undertake joint and several guarantee liabilities for the debts owed by the Development Zone Branch of Bank of Guangzhou Co., Ltd.
The Development Zone Sub-branch of Bank of Guangzhou Co., Ltd. auctioned and sold the 67.97 million shares of Qianhai Life Insurance Co., Ltd. held by Shenzhen Jushenghua Co., Ltd. and the proceeds from the sale shall be preferentially repaid within the debt scope of the Development Zone Sub-branch of Bank of Guangzhou Co., Ltd. .
At the end of last year, Baoneng was caught in the redemption of financial products. The final redemption plan was that Baoneng Group acquired the underlying assets of some designated financial products, and the purchase price would be paid to fund managers and comprehensive service providers for the redemption of financial products.
The redemption plan shows that Baoneng Group organizes to provide high-quality real estate and rights and interests with a total value of not less than 5 billion yuan with a high return on investment, which can be transferred or realized for investors to choose freely.
The industry said that Baoneng's capital chain is relatively tight, and this move can drive the return of funds.
Wealth management product redemption plan
Regarding the issue of the company's wealth management products, Baoneng said in a "Letter to Investors" issued at the end of last year that the company's current predicament is a staged difficulty, and all the company's interest-bearing liabilities currently have sufficient collateral for guarantee.
According to Beijing Youth Daily, Baoneng Group had 19 court executions, with a total executed amount of about 18.031 billion yuan.
Baoneng Group has been listed as a dishonest executor by the court many times.
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