Huaxi Bio reports doubts: mysterious people, silent female rich people and unknown capital past

(Image source Huaxi Biotech official website)

There are many doubts

Author | Du Yilan

If an enterprise does not advance, it will retreat, if you have no pressure, you cannot move forward, and it will soon be surpassed by others.

In the past few years, Huaxi Biotech's hyaluronic acid business has boomed, and its actual controller Zhao Yan has reaped huge wealth. The 2022 Hurun Rich List shows that Zhao Yan's family wealth is 49.5 billion, ranking 93rd.

However, a "sudden" report caused the medical beauty leader Huaxi Biotechnology to fall into a storm of public opinion.

Recently, some media reported that Zhao Yan, chairman of Huaxi Biotechnology, was reported by former employees for "encroaching on shareholders' rights and interests and forcibly recycling employee shares at low prices"; Cui Guangping, co-founder and vice chairman of Huaxi Group, also said that his 10% profit dividend right has not been realized.

In addition, Huaxi Group was "recovered" by partner Xu Xinsheng for 60 million yuan, and filed against Bo, and Xu Xinsheng finally lost the lawsuit.

To the confusion, just a few days later, the article showed "deleted by the publisher".

In October this year, people who claimed to be close to Cui Guangping also contacted "Fortune Quality" to break the news, and after the above article was released, the other party's attitude changed, and said that Cui wanted to delete the recording and could no longer leak the material.

Don’t wait for prosperity to care for the things important to you. After the above report was issued, Huaxi Biotech's share price fell, closing at 106.68 yuan / share as of November 10, down 1.20%.

Previously, the interface reported that the staff of the Shandong Securities Regulatory Bureau responded to this: "What the investor reported before, the Shandong Bureau has handled and replied to the investor; Recent reports are pending. But for more details, the other party said it was inconvenient to reply.

Zhao Yan, who was at the center of the storm, has remained silent so far. Huaxi Biotech has not spoken out on this in information disclosure or other formal channels. "Fortune Quality" sent a letter to Huaxi Biotech about the reported related issues, and as of press time, the other party has not replied.

01

Not for the first time

Back in December 2021, it was reported that Huaxi Group was "chased" for 60 million.

At that time, Leju financial reports showed that in June 2005, Huaxi Group signed an agreement with Xu Xinsheng to transfer the Wukesong project to Huaxi Group, and Huaxi Group should pay Xu Xinsheng a total of 100 million yuan in transfer compensation, to be paid in five stages. After the Agreement came into effect, Huaxi Group has paid Xu Xinsheng a total of 40 million yuan in compensation for the first four stages of transfer. However, the "fifth stage" transfer compensation fee of 60 million yuan has not been paid by Huaxi Group.

Therefore, Xu Xinsheng took Huaxi Group to court and requested that Huaxi International Group be ordered to immediately pay Xu Xinsheng the compensation fee of RMB 60 million for the fifth stage of transfer under the Letter of Agreement; Ordered Huaxi International Group to immediately compensate Xu Xinsheng for interest losses from July 18, 2009 to the date of actual settlement of 60 million yuan.

But in the end, the court dismissed Xu's lawsuit.

Less than a year later, an even bigger storm hit.

On November 2, it was reported that Zhao Yan was reported to have used livelihood as a threat to forcibly recover 880 million yuan worth of employee shares at a low price of 200 million yuan before and after the IPO of Huaxi Biologics.

It is said that before the share reform, about 80 employees of Huaxi International Investment Group Co., Ltd. (Zhao Yan Holding Enterprise, hereinafter referred to as Huaxi Group) established four limited partnerships, and invested in Huaxi Biotech at a fair market price and about 35 times the PE of Huaxi Biotech (18.13 yuan per share), with a total shareholding amount of 100 million yuan.

On November 6, 2019, Huaxi Biotech was listed on the Science and Technology Innovation Board, and the total 1.28% shares held by the above four companies had a one-year stock lock-up period, which was realized by 880 million yuan based on the stock price of 160 yuan per share on the day of the lifting of the ban.

Subsequently, Zhao Yan instructed the relevant personnel of the company to ask the early employees who held the stock to sell the stock to her at a price of 90 yuan per share. It is said that if the shares are not sold, they will be required by the company to voluntarily resign, and if they do not resign, they will be removed from their posts and wait for work, and only 1,540 yuan will be paid basic living expenses.

Is the algorithm of recovering 880 million yuan of shares at a price of 200 million yuan accurate? Employees give up this huge benefit to keep their jobs? "Wealth Quality" sent a letter to Huaxi Biotechnology, but the other party has not replied; The whistleblower said it was inconvenient to reply.

02

Wealth Code

"Investment requires vision and persistence."

With such a savvy Zhao Yan, the starting point of her career has little to do with investment.

Born in 1966, Zhao Yan grew up in an intellectual family and studied biology at East China Normal University in Shanghai, where she worked as a teaching assistant after graduation.

In the 80s and even now, university teaching assistants were considered a decent job. But Zhao Yan is not satisfied with this, and like countless young people, she dreams of going south to start a business.

Hainan has become the first stop for Zhao Yan to start a business. Soon, she dug the first pot of gold in the refrigerator: buy the problem refrigerator from the factory at a low price, and then ask the master in Shunde to repair it, and sell it to make a profit. Zhao Yan accumulated her first fortune through this.

Since then, Zhao Yan has invested in clothing and finally found the wealth code in real estate, laying the foundation for later commercial buildings.

At that time, when Hainan real estate broke out, Zhao Yan used real estate to make the wealth in his hands skyrocket, "It turned out that the land I bought for 120,000 yuan, the price a week, and finally rose to more than 1 million." ”

In 1993, Hainan's real estate bubble burst, and Zhao Yan withdrew from Hainan to the north. No one knows how much wealth Zhao Yan has accumulated in the years in Hainan, but according to her later series of investments in the north, it can be seen that she is not short of money.

In 2001, Zhao Yan established Beijing Huaxi Xinyuan Real Estate Development Co., Ltd. (Huaxi Xinyuan) in Beijing, whose business scope is the development, construction, rental and sale of houses within the planning area, as well as the property management of houses within the planning area.

According to the official website of Huaxi Group, with the help of Huaxi New Garden, Zhao Yan set her sights on Beijing Chang'an Avenue, in the prosperous area of Beijing's East Chang'an Avenue, the southwest corner of the core area of Guomao CBD, invested in the development and construction of the Central World Trade Center.

Completed in January 2005 by Huaxi Xinyuan, the Central World Trade Center is one of the top 10 key projects in the CBD of Beijing. The project consists of four independent buildings of ABCD, which is a comprehensive building complex with super 5A intelligent office and corresponding commercial and service facilities. The project has more than 2,500 parking spaces, Metro Line 1 and Metro Line 10 directly to the entrance of the second basement floor of the building, China World Hotel, China Traders Hotel, China World Mall, etc. can be directly reached from the underground corridor.

The double blessing of prime location + luxury business district makes the Central World Trade Center very valuable. According to public reports, the Central World Trade Center was sold for 10,000 yuan / square meter as early as 2000, and by 2006, the market price increased to 3-35,000 yuan / square meter.

In June 2021, the news that Harmony Health Insurance Company spent 9.057 billion yuan to acquire SK Building attracted much attention. It is understood that SK Building was originally Block A and B of the World Trade Center in Central, and in 2005, Huaxi New Garden transferred it to Singapore developer CapitaLand in the form of construction in progress, with a transaction amount of 1.837 billion yuan, and the building was renamed CapitaLand Tower.

In September 2008, Sky Asset Management Co., Ltd., a subsidiary of SK Group in South Korea, purchased CapitaLand Tower from CapitaLand for RMB3.34 billion and changed its name to SK Tower as the group's headquarters in China.

With the whistleblowing storm, Zhao Yan's real estate business has also attracted attention again.

According to reports, Cui Guangping, Zhao Yan's partner in the real estate field for many years, co-founder and vice chairman of Huaxi Group, said that he had started a business with Zhao Yan since 1999, and he presented a document stamped with the official seal of Huaxi Group, Zhao Yan is the actual owner of Huaxi Group, and the two minority shareholders Cai Tong and Cui Guangping are not reflected in the company's equity and assets, but they each enjoy 10% of the right to profit dividends.

Cui Guangping said that he had asked for dividends many times, but Zhao Yan ignored them; In the past, in order to reassure him, Zhao Yan once wrote a profit sharing certificate and locked it in the company's safe, but the certificate was later stolen by unknown persons. As a result, this entrepreneurial partner who has worked with Zhao Yan for 23 years has not yet obtained his right to dividends.

However, it is doubtful whether Cui Guangping's statement is true, and Hua Xi has not responded to it. For Zhao Yan, her career is still slowly unfolding.

03

Intersection capital bosses

According to the Economic Observer, in 2006, following the Central World Trade Center, Zhao Yan undertook the Wukesong Stadium, the basketball venue of the Beijing Olympic Games, which was the first privately invested Olympic venue in China.

Wukesong Stadium was completed in 2007, with a construction area of more than 60,000 square meters and a total investment of more than 700 million yuan. After the 2008 Beijing Olympic Games, as the venue investor, Huaxi Group obtained the exclusive right to operate the venue for 40 years and started a series of commercial operations.

Among the shareholders of Wukesong Sports before 2010, Beijing Urban Construction Investment and Development Co., Ltd. and Beijing Shoukai Tianhong Group Co., Ltd. appeared. Both are state-owned enterprises in Beijing.

In 2009, American R&B diva Beyoncé's world tour Beijing concert was staged at Wukesong Stadium, and subsequently, Faye Wong, Justin Bieber, Backstreet Boys, etc. successively held concerts at Wukesong Stadium, and Wukesong became a landmark building in the west of Beijing.

The commercial operation of Wukesong Stadium includes not only concerts, but also various titles. In 2011, Wukesong Stadium signed a naming agreement with Mastercard, making it the first Olympic venue in the country to receive title sponsorship. In 2017, it signed a naming contract with SAIC-GM Cadillac.

In addition, since 2011, Huaxi Group has built Huaxi LIVE Wukesong Sports Service Complex around Wukesong Stadium, which is the first Huaxi LIVE built by Huaxi Group, covering a total area of about 1,000 acres, on the basis of the original main venue, M space, HI-PARK basketball park, HI-UP commercial center, HI-ICE ice park and other sports centers have been added one after another.

Huaxi LIVE Wukesong has become a large-scale business district integrating leisure, entertainment and catering, known as "BWID".

In addition, Huaxi Group has also built Huaxi LIVE urban sports and cultural commercial operation complex in Chengdu, Chongqing, Jiangxi Shangrao and other places.

According to the official website of Huaxi Group, "all its self-owned venues, including Beijing Wukesong Stadium, Wukesong Ice Sports Center, Huaxi LIVE·Wukesong M Space, Huaxi LIVE·528M Space, Huaxi LIVE Banan International Sports and Cultural Center (that is, Chongqing Huaxi Cultural and Sports Center), etc., have nearly 100,000 seats. ”

In Zhao Yan's famous work Wukesong, she also intersected with capital bosses.

According to the national enterprise credit information publicity system, in 2011, Beijing Tiantian Xingye Investment Co., Ltd. (Tiantian Xingye) invested in Wukesong Sports with a subscribed capital contribution of 390 million yuan, and in 2016, Tiantian Xingye withdrew from Wukesong Sports.

According to public information, in 2014, Beijing Cultural Silicon Valley Asset Operation Group Co., Ltd. (Cultural Silicon Valley) invested in Tian Tian Xingye, holding 90% of the shares. Culture Silicon Valley was founded in 2013, the legal representative is Wei Hongxing, and the supervisor is Wei Junrui.

According to the "Prior Notice of Administrative Punishment and Market Prohibition" issued to Gaosheng Holdings by the Hubei Securities Regulatory Bureau of the China Securities Regulatory Commission in 2019, Cultural Silicon Valley is a company controlled by Wei Junkang, the father of Wei Zhenyu, the actual controller of Gaosheng Holdings, Wei Hongxing and Wei Junrui hold a total of about 82.08% of the capital contribution share of Cultural Silicon Valley through direct and indirect means, and Wei Hongxing and Wei Junrui hold all the above capital shares on behalf of Wei Junkang.

Later, due to illegal guarantees and suspected false disclosure of securities, the Wei family lost control of Gaosheng Holdings. Zhongxing Caiguanghua Accounting Firm (Special General Partnership), which was engaged by Gaosheng Holdings for its 2021 annual financial statements, issued a qualified "Audit Report".

According to public information, Wei Junkang started in the coal business in Shanxi, transferred to Beijing real estate around 2000, and acquired the listed company Landing Holdings, now Gaosheng Holdings, in 2014. After taking control of the listed company, the Wei family took over some of the online loan assets of LeEco, a subsidiary of Jia Yueting, a fellow Shanxi Province, and switched to P2P, but eventually exploded.

In addition, combing through the historical shareholders of Tian Tian Xingye also involved another capital boss.

Tiantian Xingye was established in 2002, and the current legal representative is Wang Shengfang, which is the same person as the legal representative of Blue Port Co., Ltd., the parent company of Blue Harbor; The majority shareholder is Wilmar Huatai Industrial Limited (Wilmar Huatai), and the legal representative of Wilmar Huatai is also Wang Shengfang.

It is worth mentioning that before Wang Shengfang, the legal representative of Wilmar Huatai was Wang Yaohui.

Xuelang Business noted that in May 2016, Wilmar Huatai became a shareholder of Tian Tian Xingye. Prior to this, from 2010 to May 2016, the shareholder of Tiantian Xingye was Jilin Huahai Petrochemical Technology Co., Ltd., and the legal representative was Wang Letian.

This person is not small.

According to public information, Huahai Oil is a subsidiary of Jilin Huahai Energy Group Co., Ltd. (Huahai Energy), and Wang Lotian is the founder and legal representative of Huahai Energy.

Wang Le was born in 1954, a native of Da'an, Jilin, worked in a Beijing government in the 1980s, and then left Beijing to do business, growing up to become an energy predator and hidden rich man in northeast China, known as "China's first private oil field".

Last year, Huaxi's Wukesong Sports underwent another equity change.

On February 24, 2021, Xuhui Holdings announced that Xuhui China, Civil Aviation Real Estate, Wuhu Cehua and Mr. Li signed an agreement on the plan of Xuhui China to cooperate with Civil Aviation Real Estate on the commercial property operation of the mixed-use project in Wukesong in Beijing through the target company in a 50:50 equity ratio.

According to the transaction content, Xuhui China paid 2.564 billion yuan in cash for the above transaction, and assumed all liabilities and obligations under the undertaking debt.

Xuhui Group was founded in Shanghai in 2000, and its controlling shareholder, Xuhui Holdings (HK.0884), was listed on the main board of Hong Kong in 2012, ranking 148th among the top 500 private enterprises and 55th among the top 100 private service enterprises in China.

04

Queen of hyaluronic acid

Today, Zhao Yan, who intersects with many capital bosses, has become the richest man with the outbreak of the hyaluronic acid industry she incubated.

"In 2000, I went to Peking University for EMBA study, and in the process of studying, I came into contact with the predecessor of Huaxi Biotechnology by chance." The predecessor of Huaxi Biotechnology in Zhao Yan's mouth is Shandong Freda Biochemical Co., Ltd. (hereinafter referred to as "Shandong Freda"), founded in 1998 by Guo Xueping scientists, specializing in hyaluronic acid business, which is commonly known as hyaluronic acid.

"Sometimes no matter how good things are, you can't know where the market is." After two years of operation, Shandong Freda is still losing money and began to look for new investors. Zhao Yan is a graduate of the Department of Biology, and loves beauty, and was attracted by the publicity that "one hyaluronic acid molecule can lock a thousand water molecules", and finally acquired Shandong Freda at a 1.5 times the price.

"In the first year we took over the company, in 2001, we achieved a profit of more than 3 million yuan. In 2000, the company lost more than 300,000 yuan. ”

In 2005, the company became a world-renowned supplier of hyaluronic acid. In 2008, the company was listed on the Hong Kong stock market, referred to as "Huaxi Biotechnology".

In the year of listing, the turnover of Huaxi Biotechnology exceeded the 100 million yuan mark, reaching 116 million yuan. In the following years, the turnover has increased year by year, and the operating income has reached 844 million yuan in 2016, a year-on-year increase of 29.7%; Annual profit was RMB228 million, a year-on-year increase of 19.8%.

Unexpectedly, in 2017, Huaxi Biotechnology was delisted from Hong Kong stocks after experiencing a highlight of performance.

"The main purpose of our privatization from Hong Kong stocks in 2017 is to facilitate the clarification of strategic direction, comprehensive strategic adjustment and internal management adjustment." Zhao Yan once said.

After being listed and delisted from Hong Kong stocks, Shandong Freda transformed into Huaxi Biologics and landed on the Science and Technology Innovation Board of the Shanghai Stock Exchange in 2019, with a market value of nearly 150 billion yuan, which can be called a "star stock" in the capital market, and Zhao Yan also received fame and fortune.

In 2020, Zhao Yan was listed on the Forbes China "Most Outstanding Business Women List", and in the same year, Zhao Yan ranked 74th in the "2020 Forbes China 400 Rich List" with a wealth of 44.97 billion yuan.

In 2022, Zhao Yan ranked 418th on the Forbes Global Billionaires List 2022 with a fortune of US$6.1 billion.