CICC Innovation, the head of Xinchao Energy, has significantly reduced its capital and intersected with the Delong Steyr Depository

An important company under Liu Ke, chairman of Xinchao Energy, has undergone a sharp reduction in capital.

On November 17, the Beijing News Shell financial reporter learned that the industrial and commercial information of CICC Innovation (Beijing) Asset Management Co., Ltd. (hereinafter referred to as "CICC Innovation") showed that its capital had been greatly reduced, and its registered capital had dropped from 100 million yuan to 5 million yuan.

CICC Innovation is a subsidiary of the regal Liu Ke, who holds 90% of the company's shares and serves as the company's legal representative and chairman. Another shareholder of CICC Innovation is Liu Bin, who holds 10% of the shares.

Liu Ke's other identity is that he has been working as a new wave energy (600777 since June 2018. SH) Chairman and General Manager, born in 1971.

The reporter noted that at the end of 2019, in response to the shareholders' questions about the side control of Chairman Liu of Xinchao Energy because of the Guangzhou Rural Commercial Bank case, Xinchao Energy replied: "The flow pill stops at Ou Zhen, and the rumor stops at the wise." The company's information shall be subject to the announcement disclosed by the company in the designated information disclosure media".

New wave energy is frequently in turmoil

The relationship between Liu Ke and Xinchao Energy is quite complicated.

Liu Ke entered the board of directors of Xinchao Energy and made a provisional proposal in the context of the resignation of a director of Xinchao Energy in May 2018, seven shareholders who held a total of 7.7615% of the shares of Xinchao Energy, these seven shareholders are Hangzhou Hongyu Equity Investment Partnership (Limited Partnership), Shanghai Customs Mountain Investment Management Center (Limited Partnership), Mianyang Taihe Equity Investment Center (Limited Partnership), Ningbo Qikun Equity Investment Partnership (Limited Partnership), Ningbo Chirui Equity Investment Partnership (Limited Partnership), Ningbo Qishun Equity Investment Partnership (Limited Partnership), Ningbo Shanjian Equity Investment Partnership (Limited Partnership). According to the announcement of Xinchao Energy at that time, among the above seven shareholders, three shareholders holding a total of 3.02% of the shares, Hangzhou Hongyu Equity Investment Partnership (limited partnership), Shanghai Customs Mountain Investment Management Center (limited partnership), and Mianyang Taihe Equity Investment Center (limited partnership) have the right to nominate directors and supervisors, and the other four shareholders cannot nominate directors and supervisors during their shareholding period.

According to a 2018 report by the Securities Times, four of the seven shareholders of Xinchao Energy were partners in Ningbo that were counterparties to The acquisition of Zhejiang Benbao Industrial Investment Co., Ltd. ("Zhejiang Benbao") by Xinchao Energy in 2014, and the other 3 were subscribers of supporting funds at that time. Zhejiang Benbao, which was acquired into Xinchao Energy, became a partner of Changsha Zehuan Venture Capital Partnership (Limited Partnership) in 2017, investing 170 million yuan to purchase 73.3753 million shares of Steyr, a delong-listed company. In 2018, Zhejiang Benbao claimed to initiate arbitration because the other two partners of the partnership failed to perform their contractual obligations in accordance with the contract, and Xinchao Energy made an impairment provision for 170 million yuan of litigation-related assets in that year. Recently, the Beijing Arbitration Commission ordered the two respondents to jointly pay the investment principal of RMB170 million and the corresponding interest to Zhejiang Benbao.

Xinchao Energy said that the company has no controlling shareholder and no actual controller. After Liu Ke became the chairman of the listed company, the management also changed under his rule.

In July 2018, after being nominated by Liu Ke, Song Huajie was hired as the deputy general manager of Xinchao Energy. In August 2018, also nominated by Liu Ke, Han Xiao entered the board of directors of Xinchao Energy and served as the chief accountant of Xinchao Energy.

In August 2018, Liu Bin was elected as a non-independent director of Xinchao Energy. According to public resumes, Liu Bin served as chairman and manager of CICC Innovation (Beijing) International Investment Management Consulting Co., Ltd., director of CICC Innovation Steady (Beijing) Investment Management Co., Ltd., director of CICC Innovation (Beijing) Asset Management Co., Ltd., and supervisor of Beijing CICC Dinghe Venture Capital Center (Limited Partnership).

In May 2019, Zi Xiaomeng was appointed as the supervisor of Xinchao Energy. According to her resume, Zi Xiaomeng once worked for the China Securities Regulatory Commission and CICC Innovation (Beijing) Asset Management Co., Ltd.

In July 2019, some media quoted an interview with the minority shareholders of Xinchao Energy as saying that "Liu Ke controlled 6 of the 9 directors and controlled 2 of the 3 supervisors". Xinchao Energy subsequently issued a clarification announcement saying that some media reported that Liu Ke, the chairman of the company, was the actual controller of the company, liu Ke had undisclosed affiliation with independent directors Zhang Xiaofeng and Du Jing, and the company stated that there was no relevant situation reported by the above media. Xinchao Energy said that the nomination and election of the company's directors, supervisors and senior management personnel complied with the law; the company's directors and supervisors performed their duties independently and there was no control; and the determination that "the company currently has no controlling shareholder and no actual controller" is correct.

In April this year, as the change of the board of directors of Xinchao Energy approached, the internal dispute within the company once again attracted attention. On April 10, Chen Qihang, a supervisor of Xinchao Energy, said that he abstained from voting on proposals such as candidates for the supervisory board because he had not received advance notice. On April 17, four shareholders of Xinchao Energy nominated candidates for the new term of directors and senior supervisors. Subsequently, the SSE issued a regulatory work letter to Xinchao Energy, requiring the board of directors of the listed company to prudently and properly handle the addition of provisional proposals submitted by relevant shareholders in accordance with relevant rules, so as to ensure that shareholders can legally exercise shareholder rights in accordance with regulations.

In May this year, Xinchao Energy completed the change of board of directors, Liu Ke was re-elected as the chairman, and Liu Bin was not elected as a director.

On May 30, Xinchao Energy announced that the company received the "Notice of Investigation" (No. 20043) from the China Securities Regulatory Commission on May 29, 2020 due to its involvement in the litigation matters of Hengtian Zhongyan Investment Management Co., Ltd., and because of the suspected violation of laws and regulations on information disclosure, the CSRC decided to file an investigation against the company in accordance with the relevant provisions of the Securities Law of the People's Republic of China.

According to the three quarterly reports released by Xinchao Energy a few days ago, its operating income in the first three quarters of this year was 3.625 billion yuan, down 17.23% year-on-year; the net profit attributable to the mother was 91.8824 million yuan, down 90.82% year-on-year. Xinchao Energy said that the decline in revenue was caused by factors such as the decline in oil and gas prices in the current period and the company's production restrictions.

The industrial layout is extensive

Liu Ke, who is at the helm of New Wave Energy, has a rich resume.

According to public information, Liu Ke graduated from Hunan Institute of Finance and Economics and the National Development Research Institute of Peking University, engaged in and managed oil exploration from 1995 to 1996, and was familiar with the whole industry chain process of oil exploration, drilling, transportation and sales; he had invested in the largest private drilling company in the Asia-Pacific region and was very familiar with the drilling business. He has worked in Hunan Import & Export (Group) Co., Ltd. and other companies, successively serving as the chairman of Beijing AIA United High-tech Co., Ltd. and the chairman of CICC Innovation (Beijing) International Investment Management Consulting Co., Ltd. He is currently the chairman of CICC Innovation (Beijing) Asset Management Co., Ltd., a director of CICC Innovation (Beijing) International Investment Management Consulting Co., Ltd., the chairman of Hubei Gaojin Investment Management Co., Ltd., and the appointed representative of the executive partners of dozens of venture capital funds and buyout fund partnerships.

Liu Ke has mastered a wide range of CICC's innovative assets.

CICC Innovation for Wuliangye (000858. SZ) is a shareholder of Yibin Wuliangye Chuangyi Liquor Industry Co., Ltd. (hereinafter referred to as "Wuliangye Chuangyi Wine"), a first-class subsidiary, and the industrial and commercial information shows that CICC Innovation holds 6% of the shares in Wuliangye Chuangyi Wine, and Liu Ke is the director of Wuliangye Chuangyi Wine.

CICC Innovation has also worked with Steyr (000760. SZ, now stock abbreviated as "*ST Stey") joint venture fund.

According to the announcement, in July 2016, the board of directors of Steyr agreed that the listed company would jointly invest with Shenzhen Rongtong Capital Wealth Management Co., Ltd. and CICC Innovation (Beijing) Asset Management Co., Ltd. to establish Hubei Steyr CICC Industry Investment Fund Partnership (Limited Partnership) with 90 million yuan of idle own funds, "with the help of the experience and resources of professional strategic partners, accelerate the pace of enterprise epitaxial development".

In June, Steyr announced that after receiving the "Advance Notice of Administrative Penalties and Market Prohibition" issued by the China Securities Regulatory Commission, the company's shares may be forcibly delisted in major violations.

The "Notice" said that the disclosure of Steyr's actual controller was untrue. From 2014 to 2016, the financial report disclosed that Yingda Steel was the controlling shareholder and Feng Wenjie was the actual controller, and after investigation, from the end of 2013 to the end of 2017, Tang Wanxin, Zhang Yeguang and Tang Wanchuan obtained the right to operate and manage by leading Steyr's non-public offering and agreeing on revenue sharing with investors, and were able to actually control the company's behavior, which was the actual controller of Steyr.

Tang Wanxin is the core figure of the Delong department.

According to industrial and commercial information, the above-mentioned fund partnership has invested in a company called "Yuxiang Copper Foil (Zhejiang) Co., Ltd."

Beijing News shell financial reporter Zhu Yueyi Zhao Yibo Editor Zhao Ze Proofreader Liu Jun