After creating the "China's First God Disk" flower and fruit garden, Xiao Chunhong, founder of Guizhou Honglicheng Group, has a feeling of "once shipwrecked as water" for other projects in China, believing that "there is no challenge and no transcendence".
However, the operation of the "overseas first god disk" Indonesia Megada New City project was broken, and Hongli City fell rapidly from the peak, and the vitality was seriously injured.
Entering 2022, the crisis has not yet been lifted, and the real estate companies, financial companies and smart technology companies in the territory of Hongli City are entangled in lawsuits. In late January, Honglicheng Company was repeatedly enforced by the court, and even listed as a dishonest executor, Xiao Chunhong was difficult to be alone, and twice was restricted from high consumption.
What is the solution to the crisis of Hongli City? This seems to have troubled the Guiyang local finance bureau, which opened a tender for a consulting firm that provided a bailout plan for Honglicheng.
Whether it was in the period of the aura of the creator of the hundred billion god disk, or in the tight predicament of the capital chain, Xiao Chunhong still kept a low profile and rarely faced the public. Perhaps now he has a task full of "challenging and transcendent", that is, to pull Hongli City out of the quagmire.
Success is also a policy, and failure is also a policy2017 is the turning point of Honglicheng, this year, Honglicheng and Lao Ganma have been selected as the top 100 private enterprises in Guizhou, Xiao Chunhong landed third in the Guizhou Rich List, surpassing Tao Huabi, but Lao Ganma Changhong, Honglicheng and Xiao Chunhong gradually disappeared in various lists.
Success is also a policy, defeat is also a policy, this sentence can be used to describe Xiao Chunhong's two major choices.
The Guizhou Flower and Fruit Garden Project, which made Honglicheng and Xiao Chunhong famous in one fell swoop, received great policy support from the government. For example, the very low cost of obtaining land to get the shantytown transformation project plot, the floor price of the land is only 160 yuan / square meter, far lower than the average floor price of 600 yuan / square meter at that time; for example, the special means of land transfer, Guiyang locally allows Hongli City to "raw land and hang"; for example, when obtaining the pre-sale certificate, Hongli City can start selling in advance by paying 25% of the project payment in advance at the stage of digging the foundation.
Intending to replicate the new "First God Disk" overseas, in 2017, Xiao Chunhong turned her attention to the New City of Megada in Indonesia, invested tens of billions of "real money and silver" of its own funds, and hired a number of "Wanda" executives to form a team with tens of millions of annual salaries. At that time, the media had reported the grand start of construction, the first time was 400 buildings, and all the excavators and piling machines in Jakarta had been driven.
After the dream begins, it bears bitter fruit. Due to the dismantling of the partnership with the Indonesian partner and the lack of understanding of the local housing purchase policy, the de-industrialization of the Megada New City project is not ideal. The Indonesian project that has precipitated a huge amount of funds was stopped, and there was no harvest, and HongliCheng began to enter a long-term stage of capital shortage.
The first investment overseas is such a large-scale, Xiao Chunhong's move made the industry stunned, at that time, the domestic head housing enterprises in Southeast Asia layout, but also only tested the water of more than a dozen apartment buildings.
Xiao Chunhong to build the Indonesian capital Jakarta's largest satellite city dream shattered, in the official website of Hongli City can not find any introduction to the Indonesian project, according to informed sources, Xiao Chunhong even the then Wanda department executives have all been retired, do not want to see, follow-up hired a group of "China Resources" executives.
The crisis behind the lawsuitXiao Chunhong is low-key, rarely participates in public activities, and even does not sign the speech on the company's official website. Because Honglicheng is not listed, financial data is rarely disclosed, but from the public trends of Xiao Chunhong and Honglicheng companies, it can be seen that Honglicheng's diversified business territory is also in jeopardy, and former cooperative allies have also gone to court with them.
Honglicheng Group is 90% owned by Xiao Chunhong, 10% owned by elder Zhang Qian, and there are 73 group enterprises, including real estate companies, commercial management companies, property management companies, hotel management, education management, etc. There are only 3 surviving enterprises directly related to Xiao Chunhong himself. In addition, Peng Jiaheng, an executive of Honglicheng, also controls the Meiyi Investment Company and expands the financial sector.
From the outside world, Honglicheng has achieved major successes by relying on the Shanshui Qiancheng and Huaguoyuan projects, and since the failure of the Indonesian project, Honglicheng's debt and operating conditions have become foggy.
In 2017, Dagong Rating issued a notice revoking the credit rating of Guiyang Hongyi Real Estate, the main company of flower and fruit garden development. Dagong said in the notice that in 2015, Guiyang Hongyi Real Estate entrusted Dagong to evaluate its credit, but after there were major changes in Guiyang Hongyi's business conditions, it began to refuse to cooperate with Dagong to track and rate it, and did not provide any rating information, which Dagong believed was deliberately concealing credit risk information and undermining the rating order.
Nowadays, Guiyang Hongyi Real Estate has been in trouble, and has been listed as a dishonest executor 10 times and enforced 443 times, and more than 100 assets of Huaguoyuan have been put on the legal auction platform.
In 2021, the Chengdu branch of KPMG, one of the four major international accounting firms, initiated an arbitration, demanding the seizure of assets worth 340,000 yuan under the name of Guiyang Hongyi Real Estate, and according to the analysis of the judgment documents, KPMG should be asking for service fees. Among the several lawsuits, the Honglicheng company case involved an amount ranging from tens of thousands to hundreds of thousands, which is enough to see the shortage of funds for the housing enterprises that have created a real estate value of 100 billion yuan.
In order to save herself, Xiao Chunhong "sold her son" and chose the assets of the financial sector, but unexpectedly caused another storm. A head housing enterprise invested 5 billion yuan to purchase a batch of mortgaged land plots from Honglicheng Financial Company, but after the first payment of 40% of the payment, it was found that the creditor's rights relationship of the mortgaged land was complicated and extremely difficult to deal with. The head housing enterprise requires that if the creditor's rights problem is not resolved within the time limit, the money will be refunded, or the down payment will be used as a loan with 15% interest.
China Cinda Guizhou Branch and Honglicheng Financial Company - Guizhou Meiyi Investment are even more contradictory. According to its disclosure, Guizhou Meiyi Investment is a subsidiary actually controlled by Guizhou Honglicheng Group. Before 2016, entrusted loans were mainly issued to enterprises through banks, and principal and interest were collected. Later, due to the change in the direction of the company's investors, since 2017, it has only received no loans, and the core business is to collect creditor's rights. As of November 30, 2020, Guizhou Meiyi Investment had 34 remaining creditors, with a total principal balance and interest of RMB8.833 billion.
China Cinda Guizhou Branch acquired the debt in 2019 and conducted debt restructuring with guizhou Meiyi Investment and other debtors with a maturity of 36 months, the principal amount of the restructured debt was 1.06 billion yuan, and the annual restructuring grace compensation rate was 15%, but Guizhou Meiyi and other debtors did not pay the restructuring grace compensation as agreed in the agreement.
In March 2021, the principal and interest of the debt totaled 1.13 billion yuan, and the defaulted Cinda launched an action to transfer more than 100,000 square meters of commercial buildings and commercial construction projects in Huaguoyuan guaranteed by mortgages such as Guizhou Meiyi and Honglicheng, and applied for compulsory enforcement of the application for Meiyi and others.
On social media and leadership message boards, Honglicheng Company frequently broke out the wave of layoffs and unpaid wages, and the owners of Huaguoyuan residential buildings and shops also complained a lot about property rights, leasebacks and other issues, which can be described as a mess.
Who will save Hongli City?How big is the debt crisis in Honglicheng? What kind of difficult situation is the operation? Xiao Chunhong did not explain to the outside world, but the local department in Guiyang seemed to be unable to sit still.
In February 2021, Guiyang Nanming City Operation and Development Co., Ltd. issued an inquiry announcement on the relevant due diligence and bailout plan consultation for Guizhou Honglicheng Group, with a procurement budget of 330,000 yuan, and Beijing Leanda Management Consultant won the bid.
Guiyang Nanming City Operation and Development Co., Ltd. was previously a state-owned enterprise, and now it is another limited liability company, with the Finance Bureau of Nanming District of Guiyang City holding 90% of the shares, and the Guizhou New Urbanization Equity Investment Fund Partnership (Limited Partnership) holding 10% of the shares. From this point of view, the local department of Guiyang may intervene to bail out it, but after the announcement of the winning bid, there has been no more information disclosure.
Real estate prosperity, financial layout and diversification, acting aggressively, and now in deep trouble, Xiao Chunhong's experience is quite similar to that of another Guizhou billionaire, Luo Yuping. Coincidentally, Xiao Chunhong and Luo Yuping did have a lot of friendship, in the 90s of the world, the two engaged in construction contracting business together, Luo Yuping also served as the general manager of Honglicheng Real Estate Development Co., Ltd., after Luo Yuping left Honglicheng and began to build his own real estate kingdom, and also won the title of "Luo Bancheng".
In the same time as Xiao Chunhong's bold investment in overseas projects, in 2017, Luo Yuping's radical transformation into real estate, and zhongtian financial he controlled wanted to enter Huaxia Life with 31 billion yuan in cash and pay a deposit of 7 billion yuan, but unexpectedly, this "snake swallowing elephant" transaction was constantly twisting and turning, and Zhongtian Financial also fell into a liquidity tension.
Nowadays, the two have become "difficult brothers and difficult brothers", Luo Yuping's Zhongtian Finance is in a dilemma, xiao Chunhong Honglicheng does not know whether he can wait for the rescue plan, whether to save himself or rely on the "white knight", it is still unknown.