Author: Zhang Xia
Source: Business People (ID: biz-leaders)
The A-share prison storm has been staged again, and another boss of the boss company has been sentenced.
The boss, named Zhou Dehong, is the former chairman and actual controller of 300135. On Thursday night, Baoli International issued a notice saying that Zhou Dehong was sentenced to two and a half years in prison and fined 500,000 yuan for bribery.
The reason for the boss's bribery was to get his niece and son-in-law into prison; the reason why he was also imprisoned was due to the public report of his niece.
one
The name Zhou Dehong is relatively unfamiliar. But in the Wuxi territory, he can be regarded as the number one person who is well-known.
Jiangsu Baoli International Investment Co., Ltd., which he actually controls, currently has 18 holding subsidiaries with a total market capitalization of 2.415 billion. In 2013, he and his wife Zhou Xiufeng also entered the Hurun Rich List that year with a net worth of 2 billion, calling him a rich man in the limelight, which is not an exaggeration.
However, it is strange that at present, his entrepreneurial story is almost impossible to retrieve on the Internet, and only his personal life can be inferred from the resume of Baoli International.
According to these data, Zhou Dehong is 59 years old, college education, since the age of 21 in a state-owned enterprise in Jiangyin as a technician, deputy director of the work district, at the age of 26 as the director of Jiangyin Dye Chemical Factory, at the age of 34, he was transferred to the director of Jiangyin Jinma Solvatification Factory, and at the age of 40, he established Jiangsu Baoli Asphalt Co., Ltd. (the predecessor of Baoli International).
Among them, the Jiangyin Dye Chemical Factory is currently in a state of revocation, and the Jinma Solvent Chemical Factory is legal person by Zhou Hongde's wife Zhou Xiufeng, and the original registered capital of both companies exceeds 30 million. From this resume, it is not difficult to see that Zhou Hongde's early entrepreneurial experience can be regarded as smooth.
According to the official website, Baoli International started with asphalt with a registered capital of 921 million yuan, and its business covers professional asphalt new materials, general aviation, engineering project investment and construction, financial leasing, etc. Major government-funded projects such as the "Harbin-Dalian high-speed railway" and the "Beijing-Shanghai high-speed railway" have used Baoli's asphalt products.
Before the family infighting scandal, Zhou Dehong's name appeared in media reports many times, and most of them were negative news, but they were hidden behind a bunch of professional financial data.
The biggest movement is the media's questioning of Baoli's international listing road. In 2010, 8 years after its establishment, Baoli International logged on the GEM. According to the reports of 21st Century Business Herald and Economic Herald at that time, from the pre-disclosure of the prospectus to the review of the issuance, Baoli International only took one week.
However, according to the prospectus, Baoli International had at least five major problems at that time:
First, the company's assets disclosed in the 2008 prospectus are nearly 5 times higher than the asset scale reported to the local government department;
Second, in 2007, the company's third largest sales customer turned out to be a competitive peer;
Third, in just three years, the profitability of Baoli International actually exceeded the combined operating profits of the two leading companies in the industry at that time, and these two companies did not mention Baoli International's strong competitor in their prospectuses;
Fourth, the information of important shareholders was skimmed over, and there was no mention of the employment of natural persons who were tied for the third largest shareholder of the company at that time;
The five most core patents were all purchased from Shanghai Jiao Tong University, and their total value was only 150,000 yuan.
The second thing that caused great controversy was even more bizarre. Before the listing, in the Prospectus (Draft Declaration) published on the website of the Csrc, Baoli International actually submitted the "Commitment Letter of Voluntary Non-payment of Five Insurances and One Gold" signed with employees to the prospectus.
Therefore, some media have jokingly called this company a "magic company".
After the listing, Zhou Dehong did not stop:
First, in 2011, in the case of a 23% decline in the company's profits, he was eager to pay dividends, and together with his wife Zhou Xiufeng, he divided 32.22% of the company's net profit for that year;
Then in 2012, the day before the release of the company's first quarter performance report, the window period violated the law, and the company increased its holdings by 13,300 shares, but claimed that it was a hand slip and misoperation;
Then, in 2014, after the failure of the company's restructuring, the couple continued to reduce their holdings and cash out, reducing their holdings by 15% in July of that year alone;
In 2015, Zhou Dehong was fined 300,000 yuan by the CSRC at the end of 2016 and banned from the securities market for 3 years because of the illegal use of the letter and the failure to fulfill the information disclosure obligation in a timely manner for the latest progress of the investment project involving Russia.
I have to say that Zhou Hongde and the company behind him can be described as a moth a year.
two
In May 2018, something even more explosive happened: Zhou Hongde's niece, Zhou Shifang, rolled up her sleeves and reported her uncle to her real name on Weibo.
The reason for Zhou Shifang's report is to avenge her husband - her husband Zou Aiguo was imprisoned by her uncle.
This starts with the nature of Baoli International. This company is a typical family-owned enterprise, and the main responsible persons of the company are relatives, such as Zhou Dehong's wife Zhou Xiufeng, brother Zhou Desheng, son Zhou Wenbin, niece and son-in-law Zou Aiguo are all working in the company, and they are all the top ten shareholders.
Zou Aiguo was born in 1977 and has joined Baoli International since 2003, starting from a salesman, successively serving as the manager of the company's marketing department, assistant general manager, deputy general manager and other positions. However, due to the distribution of benefits, in 2017, Zhou Dehong suddenly turned his face with Zou Aiguo.
According to Zhou Shifang, Zou Aiguo has made great contributions to the development of Baoli International, and more than 70% of the company's core business asphalt sales are directly or indirectly completed by him. However, his high achievements made his uncle Zhou Hongde feel insecure. In order to eliminate this hidden danger and let his son take over smoothly, in early 2017, Zhou Dehong carried out a series of reforms to the remuneration of the company's executives, requiring executives not to take performance commissions, but only to receive annual salaries.
This demand, which can be called a precision strike, was strongly opposed by Zou Aiguo. In March of that year, he submitted his resignation to the company and prepared to start a new business himself.
Zhou Shifang believes that her husband's move has angered her uncle. Fearing that her husband would take away a large number of customers from the company and threaten the development of the company, his uncle chose to kill the killer. She said that on March 28, 2017, 11 days after resigning, Zou Aiguo suddenly disappeared, and after inquiring about it, she learned that her husband was taken away by the Wuxi police on suspicion of embezzlement of office and bribery of non-state workers, and it was Baoli International who reported the crime.
In December of the same year, the Jiangyin Municipal People's Procuratorate indicted Zou Aiguo. In April 2019, the Jiangyin Municipal Intermediate People's Court rendered a first-instance judgment on the case, in which Zou Aiguo, while serving as the manager of Baoli's international marketing department, collected a benefit fee of 2,117,400 yuan, privately engraved a financial seal, illegally took possession of a loan of 217,900 yuan, committed the crime of accepting bribes from non-state workers and embezzling office, and was sentenced to 6 years and 6 months in prison, and was recovered from accepting bribes of 3,189,500 yuan and confiscated.
Unsatisfied with the verdict, Zou Aiguo appealed to the Wuxi Intermediate Court. More than a year later, the second instance rejected it. Zou Aiguo and Zhou Shifang continued to appeal unsatisfied, and the Wuxi Intermediate People's Court rejected Zou Aiguo's appeal on December 18, 2020.
three
The imprisonment of the niece and son-in-law did not bring this infighting drama to an end. Zhou Shifang, who insisted that her husband was innocent, began the road to reporting for 3 years after Zou Aiguo was imprisoned.
There are two contents of her report: one is that Zhou Dehong and the judicial staff extorted 30 million yuan from Zou Aiguo; second, in the disclosure of major matters, Zhou Dehong still did not disclose in accordance with the relevant regulations of the CSRC.
Both of these are fatal, especially the first one has a name and a surname. According to Zhou Shifang, the judicial personnel responsible for handling Zou Aiguo's case were Qian Feng, then head of the three major teams of the Wuxi Municipal Public Security Bureau's Economic Investigation Detachment, and Ma Jianhong, then head of the Wuxi Municipal Public Security Bureau's Internal Security Detachment. Among them, she has seen Qian Feng many times in Baoli International. Qian Feng first told her to intercede with her uncle and aunt, and then told her to refund 30 million yuan to Baoli International to obtain a letter of understanding and consent.
Zou Aiguo also said in the appeal materials that in April 2017, Qian Feng, a police officer of the Wuxi Economic Investigation Detachment, illegally took himself out of the detention center and escorted him from Wuxi to Jiangyin, forcibly withdrew 9.7 million yuan from the bank from the account, and forced him to sign and abandon his business expenses in Baoli International of more than 6 million yuan.
Given money and the husband was sentenced? Zhou Shifang was enraged. Beginning on May 28, 2018, she filed a complaint with the Wuxi Municipal Public Security Bureau, the Procuratorate, the Supervision Commission and other departments, accusing Zhou Hongde of colluding with Ma Jianhong, Qian Feng and others to abuse his power and criminal law enforcement methods and meddle in economic disputes. The family infighting of Baoli International has developed into a case within a case.
The allegation was soon followed. In August and September 2020, Ma Jianhong and Qian Feng were successively disciplined by the Xishi Discipline Inspection Commission Supervision Commission and the Jiangyin and other local discipline inspection commissions to conduct disciplinary review and supervision investigation. In March this year, Ma Jianhong was "double-dismissed" and transferred to the judicial organs for investigation and investigation in accordance with the law; Qian Feng was also charged with accepting bribes and bending the law for personal gain.
On August 5 this year, Ma Jianhong's related case was tried at the Wuxi Intermediate People's Court. Judicial materials show that during the handling of Zou Aiguo's case, Zhou Dehong sent 300,000 yuan in benefits to Qian Feng; Ma Jianhong confessed that he and Zhou Dehong were fellow villagers and classmates, including in the Zou Aiguo case, and that he received about 700,000 yuan in money from Zhou Dehong before and after (the public security organs accused Zhou Dehong of paying him a total of 930,000 yuan in bribes).
Zhou Dehong, the protagonist of the case, was also quickly punished. On January 4 this year, Baoli International announced that Zhou Dehong was taken into criminal detention by the procuratorate for suspected bribery. On the same day, Baoli International once again announced that Zhou Dehong would no longer hold any position in the company and would be succeeded by his 29-year-old son Zhou Wenbin as chairman.
Today, this family infighting that has been danced by chickens and dogs for nearly four years has finally ended in both defeats: after sending his niece and son-in-law to prison, his uncle Zhou Hongde was also sentenced to two and a half years, and the company's business has plummeted. As of November 25, Baoli International's stock price was only 2.62 yuan / share, down nearly 80% from the historical high of 17.09 yuan / share.
Resources:
1. "The actual controller "sent" his niece and son-in-law to prison, and also bribed the police handling the case? Finally, I was also criminally detained," Daily Economic News
2. "Three years to report the road, niece sent her uncle to prison ... The stock price fell to 2.6 yuan, how does the 29-year-old new chairman get out of the predicament? , International Finance News
3. "Baoli Asphalt: The Road to The Listing of a Magical Company", 21st Century Business Herald
*The title image comes from the official website of Jiangsu Association for the Promotion of Friendship and Exchange with Foreign Countries