Text | Hua Shang Tao Li Wu Su
The reversal of the business world is more urgent than other areas!
Earlier, Dong Mingzhu joined hands with Wang Jianlin and other bigwigs to invest in Yinlong New Energy, causing a lot of controversy, but recently, Dong Mingzhu took control of Yinlong at a price of 1.828 billion yuan.
In October 2020, Huo Dong ranked 729th in the "Hurun Rich List" with a net worth of 8 billion yuan, becoming the third richest man in Zhuhai, second only to Dong Fan of Jianfan Bio and Liang Yunchao of Tomson By-Health, 2 billion yuan more than Dong Mingzhu.
However, in the recent period, it has been exposed that the performance of Rendong Holdings, which is helmed by Huo Dong, is weak, and the company's revenue in the first half of this year was 879 million yuan, a sharp decrease of 31.44% year-on-year, and the net profit attributable to the shareholders of the listed company was -11.08 million yuan.
Huo Dong himself was also listed by the court as a dishonest executor because the company owed 270 million yuan to the bank, and became an "old lai" and was restricted from high consumption.
Who is Huo Dong? To put it simply, he is a "rich second generation" and is closely related to the richest family in Inner Mongolia.
According to media reports, there are many opinions about the relationship between Huo Dong and Huo Qinghua, chairman of the Inner Mongolia energy giant Qinghua Group and the former richest man in Inner Mongolia, for example, some people say that Huo Dong is Huo Qinghua's son, but there are no official documents to confirm the relationship between the two.
According to the information disclosed at the time of the acquisition of Rendong Holdings, it is only revealed that Huo Dong worked for China Qinghua Energy Group Co., Ltd. from 2010 to 2017, and successively served as an executive of Qinghai Qinghua Mining and Metallurgical Coal Chemical Group, Xinjiang Qinghua Energy Group and China Qinghua Energy Group Co., Ltd.
In addition to the relationship with the richest family, Huo Xiuzhen's mother Huo Xiuzhen family has been engaged in energy development, processing and other businesses for a long time in Ningxia, Inner Mongolia and other places in the early years, with a high reputation; mother-in-law Zhang Shuyan has long been involved in large and medium-sized real estate development projects in China, and currently controls a large real estate development company, and has also invested in a number of domestic companies, which also has certain financial strength.
When Huo Dong acquired the listed company Minsheng Jinke, he spent more than 1 billion yuan, where the funds came from aroused the attention of regulators, and the answer was quite domineering: Huo Xiuzhen and Zhang Shuyan both had enough financial strength to provide financial support for Huo Dong's acquisition of Minsheng Jinke shares.
With this acquisition, the Huodong family did provide strong financial support. Rendong Holdings has revealed that of the acquisition funds, 470 million yuan is planned to come from Huo Dong's family accumulation, which is borrowed by Huo Dong from Zhang Shuyan, "and there is no agreement on the repayment period and interest, and no guarantee is provided."
It was with family support that in June 2018, Huo Dong officially became the chairman of Minsheng Jinke, and the company was subsequently renamed Rendong Holdings.
The arrival of Huo Dong initially made Rendong Holdings look new.
In the year before the acquisition, the company achieved revenue of 953 million yuan, a year-on-year decrease of 63.92%, and the net profit attributable to the mother was -216 million yuan, a year-on-year decrease of 295.31%, while in 2018, the company achieved revenue of 1.486 billion yuan, an increase of 55.84% year-on-year, and a net profit attributable to the mother of 52.9869 million yuan, an increase of 124.56% year-on-year.
The company's situation was reversed, and Huo Dong began to appear on the rich list. In the 2019 Hurun post-80s self-made rich list, he ranked 40th in the country with a wealth of 2.7 billion yuan.
If it is steady and steady, this story may be another direction, but the reality is that Huo Dong accelerated to embrace capital and played the "field" badly.
In July 2019, Rendong Holdings released the news that Haikejin Group, which has a state-owned background in Beijing Haidian, will obtain the voting rights of nearly 30% of the equity of Rendong Holdings, and the actual controller of the company will be changed from Huo Dong to state-owned assets.
Affected by this news, Rendong Holdings opened the "big bull stock model", soaring from 16 yuan / share to 64.25 yuan / share in November 2020, an annual increase of nearly 330%, a record high.
According to the media, Haidian State-owned Assets has not brought substantial business cooperation or funding sources, but to a certain extent, it has provided an opportunity for the "speculation" of Rendong Holdings' stock price.
In other words, Rendong Holdings has the opportunity of "bookmakers" to borrow state-owned assets to intervene, hyped up, and netizens call it "the strongest Zhuang stock in Shanghai and Shenzhen".
However, on November 18, 2020, Haike Gold Group announced the termination of the relevant agreement, and the key factor supporting the soaring share price of Rendong Holdings was instantly withdrawn. When the market came back to Life, 15 fell and stopped, 26 billion market value evaporated, and by the time of the eleventh consecutive decline, the per capita loss of shareholders reached 1.91 million yuan, which is not exaggerated to describe it as "the strongest money crusher".
The stock price plummeted, but "Niu San" Jinghua became the "biggest winner". Although the media calculated that although he was fined 5 million yuan by the CSRC for allegedly manipulating the stock price of Rendong Holdings, he may have cashed out more than 2 billion yuan.
Behind the "cattle scattering", more than 100,000 shareholders were harvested and deeply trapped, while Rendong Holdings was in a slump.
Under the desperate situation, the former domineering Huo family was unable to rescue each other, and even Huo Qinghua and his wife became "old Lai", and last year, Qinghua Group even boarded the national enterprise bankruptcy and restructuring case information network.
Starting from capital support and losing to capital speculation, huo Dong, the "second generation of the rich", planted.
Resources:
1. "Shock A shares! 11 consecutive crashes triggered a tragic explosion! The average shareholder lost 1.91 million! Some people revealed that they owed 2 million yuan to securities companies, and the Shenzhen Stock Exchange urgently intervened", 21st Century Business Herald
2. "Hunting 002647: The Behind-the-Scenes Story of 14 Fall Stops of Rendong Holdings", Securities Times
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