Ten billion capital empire "collapsed"! The former richest man in Henan is no longer in the scene, and the China Securities Regulatory Commission has taken action: file an investigation!
Li Zhi
"There are thunders everywhere, and there are tears in the eyes." Henan's largest pharmaceutical group was investigated by the China Securities Regulatory Commission. Because the company failed to disclose the 2021 annual report within the specified time limit, it was suspected of illegal information disclosure.
It is worth noting that with the successive exposure of overdue debts, capital occupation, and illegal guarantees, the former tens of billions of capital empires fell apart, and the former richest man in Henan also became a Laolai.
ST Fu Jen was investigated by the China Securities Regulatory Commission
On the evening of June 1, ST Furen issued an announcement saying that the company received the “Notice of Filing a Case” (No.: Zheng Jian Li An Zi No. 0122022001) from the China Securities Regulatory Commission on May 30.
Because the company did not disclose the 2021 annual report within the specified time limit, and was suspected of illegal information disclosure, according to the "Securities Law of the People's Republic of China", "The People's Republic of China Administrative Punishment Law" and other laws and regulations, on May 12, 2022, the China Securities Regulatory Commission decided to File a case.
ST Fu Jen said that the company will actively cooperate with the relevant work of the China Securities Regulatory Commission and fulfill its information disclosure obligations in strict accordance with regulatory requirements.
Netizen: Thunder is everywhere, tears are in my eyes
Netizens said, "There are thunders everywhere, and tears are all over the eyes!" "Dead pigs are not afraid of boiling water." At the same time, some netizens questioned, "The CSRC filed a case on May 12, why did ST Fu Jen delay the announcement until today?"
As of now, the stock has 18,800 shareholders.
ST Fu Jen annual report "difficult labor"
In fact, ST Furen has previously stated that due to difficulties encountered in carrying out the company's financial audit work and the preparation of regular reports, the company's annual report audit work progress did not meet expectations, and the company failed to disclose the 2021 annual report within the statutory period. In the first quarter report of 2022, the company's stock has been suspended from May 5, 2022.
At the same time, it is reminded that if the company's shares are still unable to disclose the 2021 annual report within 2 months of suspension, the company's shares will be issued on the next trading day after the 2-month suspension of trading. Trading resumed within one trading day and was issued a delisting risk warning.
If the company fails to disclose the 2021 annual report within 2 months after the delisting risk warning is issued, the company's shares may be terminated from listing.
On May 9, the Henan Securities Regulatory Bureau ordered it to take corrective measures, emphasizing that ST Furen should earnestly fulfill the statutory obligation of listed companies to disclose periodic reports. , review and disclose the 2021 annual report to ensure the truthfulness, accuracy, completeness, timeliness and fairness of the disclosed information.
On April 29, ST Furen also received a supervisory work letter from the Shanghai Stock Exchange because it was unable to disclose the 2021 annual report and other matters within the statutory period.
Debt overdue, capital occupation, illegal guarantee
ST Fu Jen has many problems
It is worth noting that it is not the first time that ST Furen, one of the "largest pharmaceutical groups in Henan", has been named because of its annual report.
The company's 2019 annual report and 2020 annual report were issued by accountants with disclaimer and qualified audit reports respectively.
The Shanghai Stock Exchange pointed out that many risks involved in ST Furen, such as capital occupation, illegal guarantees, estimated liabilities, accounts receivable, and continuous operation ability, have not yet been eliminated.
At present, ST Fu Jen has many problems and difficulties.
In terms of sustainable operation capability, as of the end of the third quarter of 2021, the company's overdue debt was 3.068 billion yuan; the company's operating income in the first half of 2021 was 902 million yuan, a year-on-year decrease of 32.65%, and the company's operating income in the third quarter of 2021 was 378 million yuan Yuan, down 45.45% year-on-year; net profit attributable to shareholders of listed companies in the first half of 2021 was -294 million yuan, net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was -296 million yuan, the third quarter of 2021 The net profit attributable to shareholders of the listed company was -238 million yuan, and the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was -209 million yuan, and the amount of loss was relatively large.
In addition, the company's capital liquidity is difficult, facing the financial pressure of overdue debt repayment and joint compensation for external guarantees. At the same time, it involves many lawsuits, and some bank accounts and assets are frozen.
In addition, there are risks of capital occupation and illegal guarantees.
As of the beginning of March, the balance of loans provided by ST Furen to the controlling shareholder Furen Pharmaceutical Group Co., Ltd. and related parties was 1.688 billion yuan. The company provided joint and several liability guarantees to the controlling shareholders and related parties of 2,479,653,100 yuan, and the remaining guarantee balance was 1.747 billion yuan. .
The above matters have not been approved by the company's competent decision-making body, which constitutes the occupation of funds of related parties and illegal guarantees, and it is expected that it cannot be resolved within one month.
The equity of ST Furen Group, the controlling shareholder of ST Furen, was frozen.
At present, Furen Group holds 61.3589 million shares of the company, accounting for 9.78% of the company's total share capital.
All these shares have been judicially seized and frozen, and there are multiple waiting lists for freezing.
Furen Pharmaceuticals was executed with a total amount of over 530 million yuan
According to data from Tianyancha, recently, Furen Pharmaceutical Group Pharmaceutical Co., Ltd. and Furen Pharmaceutical Group Co., Ltd. added information on the persons subject to execution, and the execution target was more than 71.72 million yuan. The execution court was Lanzhou Intermediate People's Court.
At present, the company has multiple pieces of information about the persons subject to execution, and the total amount of execution has exceeded 530 million yuan.
The collapse of the tens of billions of capital empires
The former richest man in Henan has become Laolai
It is understood that Furen Pharmaceutical Group Pharmaceutical Co., Ltd. was established in 1993. It is a comprehensive group company dominated by pharmaceutical and wine industries, integrating R&D, production, operation, investment and management.
The products cover many categories such as Chinese and Western medicine preparations, biochemical pharmaceuticals, biopharmaceuticals, and APIs.
And in 2006, it backdoored Minfeng Industrial to land in the capital market.
After the listing of ST Furen, it was once brilliant. With the blessing of two popular concepts of medicine + wine industry, ST Furen has a market value of up to 47 billion.
In fact, the controller Zhu Wenchen also became the richest man in Henan.
On the 2005 Forbes China Rich List, Zhu Wenchen's family was listed with a fortune of nearly 900 million yuan; in 2012, Zhu Wenchen was listed on the Hurun Report with a worth of 7.6 billion yuan, and won the title of the richest man in Henan Province.
However, it was this splendid Zhu Wenchen who fell over and over again in turmoil and was punished continuously.
In November 2020, Furen Pharmaceuticals was punished for a number of violations including false records, and the actual controller, Zhu Wenchen, was fined and banned from the market for 10 years.
At the end of last year, Zhu Wenchen was publicly condemned by the Shanghai Stock Exchange.
According to the China Execution Information Disclosure Network, the former richest man in Henan has been repeatedly listed as the person to be executed, which is really embarrassing.
As of now, ST Furen's share price is at 1.93 yuan, with a total market value of 1.21 billion yuan.
Shares have fallen 95% from their all-time highs.
Source: China Fund News