1
On May 20, 2022, just when many young people took advantage of this "good birthday and auspicious day" to show their love, the CCTV financial channel "Economic Information Network" announced 20 typical illegal cases audited by the CSRC in 2021.
Among them, *ST Yihua Life was characterized as "a typical case in which the actual controller instructed a listed company to commit financial fraud".
A year ago, *ST Yihua Life, which became the first "1 yuan delisting" of the Shanghai market, was once again pulled back to people's vision.
According to CCTV Finance, in order to hide the company's financial fraud facts, Yihua Group played a lot of tricks during the INVESTIGATION of the CSRC.
For example, when the auditors want to retrieve all the overseas sales contracts of Yihua Life, Yihua only provides a simple text agreement, but cannot come up with more specific transaction details; When the investigators wished to inquire further about the staff concerned, they were told that they had left their posts and could not be contacted.
However, after in-depth investigation, the inspection team found that these so-called "departed personnel" were actually still in the company, but they were all hidden in the production workshop of the factory area, in order not to want these business managers to contact the investigators.
After the auditors entered the enterprise, they directly retrieved the internal production business system, but found that the value of the data provided by the company was inflated, and there was obvious fraud.
Just when the investigators found a set of real data and were ready to follow the vine to find out, the plant suddenly lost power.
Unfortunately, this little trick is really a trick for investigators, and the investigation team found after review that *ST Yihua Life actually has two sets of business data systems, one is the real data used internally, and the other is a fake system dedicated to handling inspections.
The dual system just shows that Yihua Group's violations of laws and regulations have existed for a long time and are very professional.
On October 18, 2021, the CSRC announced the penalty decision, *ST Yihua Life was fined 6 million yuan, and Liu Shaoxi, the actual controller of the company, was banned from the securities market for life in addition to being fined 9.3 million yuan.
At the same time, 18 directors, supervisors and senior managers of *ST Yihua Life have also been punished to varying degrees in accordance with the law.
In fact, the prelude to the fall of *ST Yihua's life was two years ago.
In April 2020, due to suspected violations of laws and regulations on information disclosure, the CSRC filed an investigation into *ST Yihua Life in accordance with the law.
At that time, the CSRC issued an announcement that Liu Shaoxi, as the actual controller of the enterprise, had accumulated 7.1 billion yuan of inflated revenue and 2.8 billion yuan of inflated profits through fictitious sales business and other means.
To put it simply, it is *ST Yihua life has no money, Liu Shaoxi is dead, insisting that he is not bad money.
Yihua's life began in 2016, when Liu Shaoxi, 53, was interviewed by CCTV.
In the face of the beautiful host, Liu Shao talked about his business with joy: "Since 2012, we have annexed 6 enterprises in Gabon, Africa, with 350,000 hectares of primary forest. ”
Throughout the interview, Liu Shaoxi was full of pride in his entrepreneurial experience.
At this time, the industry is full of respect for Liu Shaoxi, because his Yihua Group has more than 80 billion yuan of assets and has invested in more than 100 companies.
Even many Chaoshan businessmen who encounter capital and operational problems will humbly seek advice from this predecessor.
Unexpectedly, in 2016, he met someone unladylike and was fooled by Jia Yueting, who was also a student of Cheung Kong Graduate School of Business, and threw 600 million US dollars to LeTV.
Half a year later, Jia Yueting ran away, and Liu Shaoxi, like many investors, was fiercely cut by Xiao Jia's classmates.
This incident made Liu Shaoxi, who was known as the "godfather of capital" in Chaoshan, lose face and beat the eagle all his life but was blinded by the eagle.
2
In December 1963, Liu Shaoxi was born into an ordinary peasant family in Lianxia Town, Chenghai City, Shantou, Guangdong Province.
Shantou is the hometown of many Chaoshan people, and since the Tang Dynasty, many Chaoshan merchants have begun to do business by sea.
With the passage of time, by the Qing Dynasty, Chao Shang had become the three major merchant gangs in China alongside Hui Shang and Jin Shang.
The Chaoshan Shang Gang not only broke through the world overseas, but also the only large merchant gang in China that has not broken the generation, becoming the richest ethnic group in the Chinese world.
However, these glorious histories have nothing to do with Liu Shaoxi's family, and the family has neither overseas relations to rely on nor ancestral property to inherit.
The Liu family has three generations of eight people, still crowded in an old house of less than 20 square meters.
Because there was really no place to put the bed at home, Liu Shaoxi could only squeeze in a narrow bed with his brother, and it was difficult to turn over.
In addition to the inconvenience of sleeping, the family changes clothes, bathes, and goes to the toilet are all problems.
At that time, Liu Shaoxi's biggest wish was to make money to help his family build a larger house, so that he and his family could live comfortably.
In the early 1980s, Liu Shaoxi, who had not finished middle school because of his family's poverty, dropped out of school and returned home.
Just at this time, ChenghaiLianxia Town Huaidong Industrial Station recruited carpenters, and liu Shaoxi, who was young and strong, was recruited into the Huaidong Industrial Station.
There, Liu Shaoxi was a "learned" person, plus he studied hard, and then became the head of the workshop team, and then became the director of the workshop and the deputy director of the Huaidong Industrial Station.
It's just that these have not changed the face of poverty in the Liu family, and the family is still destitute.
As the old saying goes, "The hemp rope is specially picked and broken, and the bad luck is dedicated to finding the bitter person", the old Liu family is poor, but it has encountered the old man who is seriously ill.
In 1987, Liu Shaoxi's grandmother fell seriously ill, and the family owed more than 4,000 yuan in debt because of medical treatment.
In the 1980s, it was a rare era of "ten thousand yuan households", and more than 4,000 yuan was definitely an unbearable amount of money for families with a monthly income of only a dozen yuan.
Liu Shaoxi, the eldest son of the family, was well aware of the situation in the family and realized that if he did not make any changes, the family was afraid of defeat.
This year, 24-year-old Liu Shaoxi resigned to start a business, carrying the borrowed 800 yuan to learn others to engage in agricultural and sideline business, and as a result, because of his lack of experience, he lost all his money.
Just when Liu Shaoxi was extremely depressed, he noticed that many families in the village who had made money were renovating their houses, but they could not always buy suitable furniture.
Liu Shaoxi immediately came up with inspiration: I can't buy furniture, so I will make furniture and sell it to them!
In fact, this is also the characteristic of Chaoshan merchants.
Chaoshan dialect says that "money and silver come out of the bitter pit" and "the stomach is trapped and bold", and many Chaoshan businessmen have achieved a career in order to jump out of the "bitter pit" and dare to fight.
Therefore, Liu Shaoxi borrowed money to open a furniture factory called Lianxia Huaidong.
3
It is said that it is a furniture factory, but it is actually just a small shack that he built with his brother and sister.
After starting a business, Liu Shaoxi was full of energy and carefully built a batch of furniture, but found that the business was dismal, and even food and clothing became a problem.
The reason is that at that time, since people chose to buy furniture, they would naturally find brands with excellent quality, and they naturally did not look at Liu Shaoxi's small workshop.
After Liu Shaoxi understood this truth, he posted a notice saying that all furniture in the store could be used free of charge for one year, and he would pay again when he was satisfied.
Liu Shaoxi was able to make this commitment, although he was confident in the quality of his own products, but he also bore the cost and time risk.
Still, "free" is always the best ad.
The people who heard the news rushed to move the furniture in the store unceremoniously, and the customers who did not grab it could only urge Liu Shaoxi to quickly replenish the goods.
In a year's time, Liu Shaoxi was so busy that he was tired and tired, and his heart was always worried.
Fortunately, Liu Shaoxi's furniture is not only new in style, but also of good quality, and the price is much cheaper than other stores. A year later, almost all guests who pulled away the furniture paid as agreed.
At that time, it coincided with the marriage of the son of the old leader of the industrial station, and Liu Shaoxi, who heard the news, had a plan in mind.
On the wedding day, Liu Shaoxi pulled a cart of specially selected furniture as a congratulatory gift.
As soon as this "big money" gift was unveiled, it really shocked everyone.
Not only was his arrogance recognized, but the furniture factory also played a publicity role.
In this way, one pass ten, ten pass a hundred, Liu Shaoxi's customers increased.
In just three years, the turnover of Liu Shaoxi Furniture Factory has exceeded more than 1 million.
At the same time as successfully paying off the debts, Liu Shaoxi also built a beautiful big house for the whole family as he wished.
In the 1990s, Liu Shaoxi's furniture factory had begun to take shape and was famous throughout Chenghai.
In 1992, after Deng Gong spoke in the south, the Shenzhen Special Administrative Region began to be built in full swing, and all kinds of high-rise buildings sprung up like mushrooms.
Liu Shaoxi, who is at the forefront of market opening, has witnessed the development speed of coastal cities, and he keenly feels that in the future market, wood products will usher in explosive demand.
The reason is very simple, as in the case of the furniture he provided for the peasants who built new houses, the city people who bought new houses always had to decorate, whether it was a family or a company, as long as the decoration was inevitable, it was inevitable that wood products would be indispensable.
In the same year, Liu Shaoxi established Yihua Decorative Wood Products Company and began the business of wooden floors, wooden wall panels and wooden furniture.
The new company and his furniture factory have combined to realize a one-stop service system of production and marketing.
Before the renovation business opened, customers in Taiwan first found him and purchased a large number of wood products from him to sell overseas, thus strengthening their ideas.
At the same time, Liu Shaoxi's furniture factory also received many OEM orders. Because the supply and production are contracted by himself, Liu Shaoxi's profits are very high and he has made a lot of money.
In 1993, because the domestic timber market was too deep, the cautious Liu Shaoxi turned his attention to foreign countries under the introduction of overseas friends and began to operate a timber business.
Since then, Liu Shaoxi has successively gone to Southeast Asia, Africa, South America and other places to investigate, and finally established an exclusive timber supply base in Myanmar.
With a steady stream of timber resources in hand, Liu Shaoxi's business is getting bigger and bigger.
It is worth mentioning that this year, 30-year-old Liu Shaoxi established the first private enterprise party branch in Shantou and served as the secretary of the party branch.
Why? This is because having good relations with the government is also the enduring "secret" of Chaoshan merchants.
Yihua Group can achieve many "conveniences" that other enterprises cannot achieve all the way to the green light, which is inseparable from Liu Shaoxi's understanding of policies and business.
4
In 1995, Liu Shaoxi established his subsidiary into Chenghai Yihua Enterprise (Group) Co., Ltd., and the scale has exceeded 100 million yuan.
In 1996, Chenghai Yihua was upgraded to Guangdong Yihua Enterprise (Group) Co., Ltd., and started the group operation.
At this time, the country has smelled the smell of capital, and all kinds of companies with channels and capabilities have begun to find state-owned enterprises to "marry", hoping to share a cup in the upcoming capital market.
In that year, 33-year-old Liu Shaoxi invested HK$45 million to establish Guangdong Oceanwide Wood Co., Ltd. with Guangzhou-based state-owned Macau Yangcheng Company, of which Yihua Group accounted for 45% of the shares.
Two years later, Macau Yangcheng Company transferred 30% of its shares to Yihua Group for more than 90 million Hong Kong dollars.
During this period, after several rounds of equity changes, Guangdong Oceanwide Wood completely became a subsidiary of Yihua Group.
Among them, the twists and turns are actually Liu Shaoxi's intention to "borrow a boat to go to sea" and realize the desire to go public.
At that time, the company wanted to provide furniture for those who built new houses, but now Liu Shaoxi wants to buy the land for building houses through listing.
In 2000, while running a timber and furniture business, Liu Shaoxi quietly established Yihua Real Estate, mainly to develop some local real estate in Shantou.
From beginning to end, Yihua Real Estate is far less famous than Yihua Furniture, not to mention compared with many real estate giants in the south.
However, under the operation of Liu Shaoxi, Yihua Real Estate a few years later made Evergrande, Country Garden and other housing giants ashamed of themselves.
At this time, Yihua Group was also rated as one of the "Top 100 Enterprises" of Township Enterprises in Guangdong Province, with assets of several billion.
Being able to reap both fame and fortune, Liu Shaoxi is undoubtedly capable.
This "skill" is closely related to his long-term connections, and naturally there are various types of "insider trading" that are unclear.
In 2001, the "Yangcheng Group Corruption Nest Case" case occurred, because the amount involved was nearly 10 million, which was called the first major anti-corruption case in Guangzhou at that time.
Among them, the judgment of the Guangzhou Intermediate People's Court shows that Zhang Suisheng, then deputy general manager of Yangcheng Group, accepted a total of 4.735 million Hong Kong dollars and 200,000 yuan in bribes from Liu Shaoxi, the head of Yihua Group, and was sentenced to a suspended death.
During the trial of the case, the inside story of Macau Yangcheng Company's low-price transfer of Oceanwide Wood was also exposed.
But strangely, Liu Shaoxi, who was involved in the case, was not investigated for criminal responsibility and withdrew.
Not only that, Yihua Wood, which was reorganized by Guangdong Oceanwide Wood, actually landed on the A-share market after 3 years and became the first listed company in Shantou.
As a result, Liu Shaoxi, who became a big man of capital, became a "man of heaven" in the minds of Chaoshan people.
It was also from this time that the Chaoshan people of Chenghai began to popularize a smooth phrase: "Chenghai Sanmo died, Xuemin, Bixiao, Liu Shaoxi"
Among them, Xuemin and Bixiao refer to Huang Xuemin, the "king of eels", and Wang Bixiao, chairman of Guangdong Nanyang Industrial City Group, who are also Chaoshan businessmen.
Juxtaposing Liu Shaoxi with them is to show that these three people have a deep background and "can't die, and they can't die."
Chaoshan businessmen are convinced that Liu Shaoxi can get out of such a big case and go public unscathed, then the connections behind him must be "hard", and it is not wrong to ask him for help.
This is also true, Liu Shaoxi does have the characteristics of a Chaoshan businessman, and those who come do not refuse.
For those enterprises in the same hometown who want to take the road of the capital market, Liu Shaoxi has carefully pointed out and taught them to "do things" hand in hand.
Needless to say, although there is a custom of Chaoshan people hugging groups, the key is that help is not free, and reasonable people know what to do.
5
To put it bluntly, busy can not be busy in vain, the listing must have my share.
Therefore, during the IPO of many companies, there are often two investment companies, Huaqing and Huayu.
These two companies are the investment companies of Yihua Group, and they all suddenly bought shares before listing.
Liu Shaoxi cashed out after the listing of these companies, and naturally also received a large "consulting fee".
However, the reason why Liu Shaoxi was recognized as the "godfather of capital" by Chaoshan merchants came from a field that no one could have imagined.
Because Yihua Group is mainly engaged in wood and furniture, the real estate has not been noticed.
In 2007, as the state began to regulate the real estate market, the real estate industry entered a new round of "quiet period", and the domestic capital market avoided it.
At that time, Evergrande and Country Garden, which were eager to go public for financing, could only adopt the "curve to save the country" strategy and detour to Hong Kong to list.
Who knows this year, the obscure Yihua Real Estate actually borrowed ST Optoelectronics to list, completely stupid a large number of housing enterprises and financial leaders, can only sigh that Liu Shaoxi behind the scenes is really a "cattle man".
The two points of the capital market have turned stones into gold, so that Liu Shaoxi has earned enough face in front of the vast number of Chaoshan compatriots and become a well-deserved "godfather of capital".
There is no more convincing case than this, and those who had some doubts about Liu Shaoxi before were completely convinced and obediently obeyed Liu Shaoxi's guidance.
According to the relevant media at that time, Yihua Group had assets of 85 billion yuan, and its investment companies involved more than 120 listed and soon-to-be-listed companies.
To have shares in more than a hundred listed companies at the same time, Liu Shaoxi's ability is really amazing.
Yihua Real Estate, which had just been listed, had a gratifying performance, approaching several large real estate companies at that time.
Starting with industry and doing well in the capital market, Liu Shaoxi has reached the peak.
However, under the fame, Liu Shaoxi's capital empire was not firmly rooted in the industry, and hidden dangers were buried.
Watching the performance of real estate companies improve by leaps and bounds, Liu Shaoxi took the real estate business as the main business and tried to build a new business empire.
But only two years after listing, with the real estate regulation and control policies becoming more and more intensive, Yihua real estate's "virtual fire" has gone thousands of miles, and the performance is not as good as a year.
In 2014, seeing that the real estate business had affected the status of listed companies, Liu Shaoxi began to divest the real estate business and turned his attention to the then hot "big health" field.
Yihua Group spent 720 million yuan to acquire Guangdong Zhongankang Logistics Group and entered the medical service industry.
However, in the same year, due to the case of Wan Qingliang, former secretary of the Guangzhou Municipal Party Committee, the media once issued the news that "Liu Shaoxi, the actual controller of the Yihua Department of capital maniacs, was taken away at the airport."
Affected by this news, Two listed companies, Yihua Wood and Yihua Real Estate, have suspended trading one after another.
According to relevant reports, in the case, Wan Qingliang admitted to receiving 700,000 yuan and 330,000 US dollars from Liu Shaoxi of Yihua Group.
What is touching is that Liu Shaoxi, who was investigated, then escaped again, and Yihua Group was not affected in any way, and also opened a new round of transformation.
6
In 2016, Yihua Wood changed its name to Yihua Life, and has spent more than 2 billion yuan to acquire the world's largest sofa brand Hua Dali and the famous domestic furniture e-commerce company Melody, entering the soft home improvement industry.
In this year, Yihua Real Estate changed its name to Yihua Health after divesting its real estate business and transferred to the field of big health.
Being able to dance in the capital market for many years, Liu Shaoxi may not have read many financial books, but he knows the secret: he can tell stories.
Whether it is soft clothing or great health, in the final analysis, it is to weave a story of a good life, anyway, some people love to listen, and some people are willing to believe.
However, Liu Shaoxi may feel that he should continue to absorb some fresh knowledge, and then make some friends in the capital market, so he went to Cheung Kong Graduate School of Business to read a "president class" in his busy schedule.
However, he was very unfortunate to meet Jia Yueting, who was exactly 10 years younger than him and could make up stories.
Needless to say, Jia Yueting, who has a deep background in the mouth and a deep background, must have made Liu Shaoxi very appreciative.
He doesn't necessarily care about what "ecological circle" Jia Yueting plans, but he who is familiar with politics must understand that the political resources behind this Shanxi guy are rare.
I have to say that this "godfather" who has been groping in the capital market for many years really does not know the tricks of Xiao Jia' classmates?
He is willing to invest billions of yuan in leTV, which is in trouble, and he thinks that the people behind Jia Yueting can reach out, and everyone will realize the big cake they have drawn, and they will also sit and reap the profits as usual.
Unfortunately, Liu Shaoxi was sloppy this time, and his "political investment", which has always been keen, was lost in vain with Xiao Jia's running away.
However, this little money is not a pain in the bones for Liu Shaoxi, and at most he has paid a "tuition fee".
At that time, the most headache for Liu Shaoxi was his two listed companies, one of which was not in contention, and the stock price continued to fall; One is really too expensive and flesh-wracking.
Yihua life, which has landed on A shares for many years, was once a well-known "demon stock".
In the first half of 2015, the stock price rose by more than 350% to 23.24 yuan, and the company's market value reached 34 billion yuan.
It can be said that it is also because of this good achievement that Liu Shaoxi dared to make a big stroke and smash billions of funds to Jia Yueting.
Who knows how long the good days will not be long, and I don't know if they are affected by the Jia Yueting incident, Yihua's life will be "falling and falling endlessly".
And Yihua Health is too expensive, after all, if you want to tell the story of "great health" credible, you have to pay for it.
Therefore, Liu Shaoxi has acquired more than 20 hospitals and research institutions in a very short period of time, and at the same time started 15 large-scale health care projects nationwide, all of which were packed into the basket of Yihua Health.
Naturally, it also sprinkled a lot of real money and silver.
It is only in the face of the declining stock price of Yihua Life that Liu Shaoxi, who is worried about affecting the "overall situation", recklessly began to falsify performance, inflating profits by 2.5 billion.
Even so, Yihua Life's stock price is still like diarrhea, a thousand miles, and it can't stop the downward trend at all.
Depressed, Liu Shaoxi can only hope for Yihua's health.
What is strange is that the companies under Yihua Group seem to have a problem of "receiving when they see good".
Yihua Health acquired 7 subsidiaries, after completing three years of performance betting, 6 of them immediately lost money.
However, at that time, people did not know the inside story, only that Yihua was one of the largest investors of Chinese companies in the Los Angeles area.
The vast number of shareholders were attracted by the glorious Yihua and entered the game one after another.
It was not until the beginning of 2019 that the shareholders woke up to the fact that these were all routines played by Liu Shaoxi.
7
On February 1, 2019, Yihua Health's stock price crashed bizarrely, and it was tragically stopped that day.
Seeing that the capital empire that has been operating for many years began to crack, Liu Shaoxi, in order to save the stock price, began to operate in the dark through fraud and joint with a number of subordinate companies to try to increase the stock price.
Liu Shaoxi, who should have replenished the margin, asked the capital allocation company to sign a share repurchase agreement. This self-made clever approach caused strong dissatisfaction among the capital, and the issue of Yihua Group allocating funds to speculate in stocks was immediately exposed.
Soon, the Shenzhen Stock Exchange, which received the report, launched an investigation.
This investigation does not matter, the regulatory authorities found that Yihua Health and Yihua Life, two listed companies, were suspected of many illegal and fraudulent incidents.
The investigation found that Yihua Life's books seem to have billions of yuan in cash, but they continue to borrow and their debts are rising, which is obviously an unreasonable situation of "double high deposits and loans".
There is no impermeable wall in the world, and the news of Yihua Group, which is still under investigation, has been quietly released.
This is good, the already shaky Yihua Life stock price plummeted again.
On March 19, 2019, an inquiry letter from the Shenzhen Stock Exchange made Yihua Health and Yihua Life wear the *ST hat.
In October of the same year, Yihua Group's bond "16 Yihua 01" defaulted, and as other public bonds continued to default, coupled with the downgrade of its rating by "China Chengxin", Liu Shaoxi had no power to return to heaven.
Since then, the company's stock price has fallen all the way.
As of the suspension of trading on February 23, 2021, *ST Yisheng closed at 0.52 yuan per share, and the market value was only 771 million yuan. Compared with the peak stock price, the cumulative decline has reached 97.8%, more than 30 billion market value has been evaporated, and nearly 60,000 shareholders have been trapped.
In March 2021, *ST Yihua Life became the "first share delisted by 1 yuan" in Shanghai.
At this time, *ST Yikang was also miserable, eating eight one-word drop stops in one year, and at the end of the year, the net assets were -411 million yuan.
Interestingly, Liu Zhuangqing, the eldest son of Liu Shaoxi, who took over as the general manager of the company, also summarized this achievement as "through the joint efforts of the company's management and various departments".
As of the close of trading on May 20, 2022, *ST Yikang's stock price is only 1.59 yuan per share.
Yihua Health was once the only flop opportunity in Liu Shaoxi's hands, but with the news of CCTV Finance, *ST Yikang was afraid that it would not be safe and could be delisted at any time.
As early as 3 years ago, Liu Shaoxi retreated behind the scenes and handed over the power of the company to his two sons. However, the second son, Liu Zhuangchao, was involved in financial fraud in Yihua Life, and the CSRC has banned him from the securities market for 10 years.
Even if the 59-year-old Liu Shaoxi has the ability, in the face of the current collapse of word of mouth and huge debts, it is very difficult for the two young people to revive the glory of the family.
Years are like water, rings are like songs, what causes are planted, what fruits are produced.
Once the first privately listed stock in Shantou, it has now withdrawn from the market; The former "godfather of capital" in Chaoshan has also fallen into a whirlpool that is difficult to get out of because of counterfeiting.
It is not easy to start a business, and it is even more difficult to keep a job.
As the domestic capital market management becomes more and more stringent, hoping to fish in muddy waters through financial fraud and false performance will only lift a stone and drop it on its own feet.
The author of this article: Fengshengjun by the sea, released by the exclusive authorization of Fengsheng Island.
Writing stars and gossip, there is evidence; The image is positive, the shadow is oblique, all by themselves, welcome to pay attention to @ Wan Xiao Knife headline number.
Resources:
1. Allocate funds to speculate on their own stocks? At the bottom of Jia Yueting's classmate Liu Shaoxi, Beijing News
2. Liu Shaoxi was involved in the corruption nest case of Yangcheng Group Bribery has not been pursued, Daily Economic News
3. Chaoshan Merchant Gang at the bottom: The godfather of capital, Liu Shaoxi, appeared in the figure of Yihua, times weekly
4. Once rescued Jia Yueting How should Liu Shaoxi of Yihua Group save himself now? Zhongke Finance
5. The most politically savvy rich man, planted, the financial circle
6. The company under the "Godfather of Chaoshan Capital" pulled out the power supply to fight against supervision, and was sued by 4 banks and claimed by 50 investors, Mustang Finance