Text: New Fiscal Domain
The former woolen giants have been filed one after another today.
On the evening of December 24, Lu Keping, the founder of Jiangsu Sunshine Group, was once again investigated by the China Securities Regulatory Commission.
This capital tycoon, who has been banned from the market for life in 2020, is quite unconvinced. However, the successive investigations not only brought him down, but also his listed companies.
01, Lu Keping was investigated again
"Woolen giant" Lu Keping, on Christmas Eve this year, was not "peaceful" at all.
On the evening of December 24, Weichuang Co., Ltd. announced that Lu Keping, the company's upper shareholder, was investigated by the China Securities Regulatory Commission on suspicion of illegal information disclosure.
At the same time as Weichuang issued an announcement, Sihuan Biotechnology and Jiangsu Sunshine also simultaneously issued an announcement that Lu Keping was placed on file for investigation. However, in the announcement, Sihuan Biotechnology and Jiangsu Sunshine both said that the matter of Lu Keping's investigation had nothing to do with his company. This also means that Lu Keping's suspected illegal information disclosure this time is most likely related to Weichuang shares.
This is the second time that Rudd has been investigated recently.
Two months ago, on the evening of October 9, Sihuan Biotechnology controlled by Lu Keping and Jiangsu Sunshine issued an announcement at the same time, saying that its actual controller Lu Keping received the "Notice of Case Filing" issued by the CSRC on the same day, and the CSRC decided to file a case against him on suspicion of manipulating the securities market in violation of laws and regulations. In other words, Lu Keping, a capital tycoon, was filed twice by the China Securities Regulatory Commission in two months, and all the three listed companies under his control were pulled into the water.
Lu Keping started with industry. Born in Jiangyin, Jiangsu Province in 1944, he has worked in the wool textile industry for most of his life. In 1986, Lu Keping became the secretary of the Party branch and director of Jiangyin Worsted Wool Factory, and in 1993, it was restructured into Sunshine Group.
Lu Keping, who was reappointed as the chairman of the company, continued to expand the scale of the company, and Sunshine Group also took advantage of the rapid development of China's wool textile industry in the 90s to become the world's largest wool textile production enterprise and high-end clothing production base. At that time, Lu Keping was known as the "woolen giant".
In 1999, Jiangsu Sunshine was officially listed on the Shanghai Stock Exchange, which also opened the curtain for Lu Keping to enter the capital market. Through the Sunshine Group as a foundation, close relatives frequently increased their holdings and other means, Lu Keping obtained the actual control of Sihuan Bio, but it was always hidden behind the scenes, until it was discovered and investigated by the China Securities Regulatory Commission in 2019.
According to the CSRC's investigation, Lu Keping became the actual controller of Sihuan Biotech no later than May 23, 2014, and actually controlled Sihuan Biotech from May 23, 2014 to April 11, 2018. Sihuan Bio's annual reports from 2014 to 2018 disclosed that there were false records such as "no actual controller".
According to the market ban decision issued by the China Securities Regulatory Commission in May 2020, Lu Keping, the actual controller of Sihuan Bio, bought and sold the company's shares during the trading restriction period, lost nearly 1 billion yuan, and was fined 27.34 million yuan after merging a number of violations, and was banned from the market for life.
According to the CSRC, Lu Keping's illegal acts lasted for a long time, the means were particularly bad, and the amount involved was particularly huge, seriously disrupting the market order and causing serious social impact, and playing a major role in major illegal activities, causing particularly serious damage to the interests of investors.
However, what is interesting is that Lu Keping, who has been entered by the lifelong market since 2020, is still "old and strong", and he has received two case filing notices again after 3 years, and his activity is still undiminished.
02. Bizarre transfer of 1.3 billion funds
From the perspective of the timeline, Weichuang shares are also a result of Lu Keping's capital operation.
In March 2020, Weichuang announced that the original controlling shareholder signed a share transfer agreement with Zhongshu Wolters Kluwer, and Zhongshu Wolters Kluwer also became the controlling shareholder of Weichuang shares.
On the bright side, Zhongshu Wolters Kluwer has nothing to do with Jiangsu Sunshine Group. However, after completing the holding of Weichuang shares, its main investor, Monsas (Taizhou) Investment Co., Ltd., became 100% controlled by Jiangsu Sunshine Group. In other words, Jiangsu Sunshine Group indirectly holds 99.9% of the shares of Zhongshu Wolters Kluwer.
However, Lu Keping does not hold a position in Zhongshu Wolters Kluwer, but his son Lu Yu serves as the chairman. At the same time, Lu Yu also joined Weichuang in January 2021 and was elected as the chairman of Weichuang in June 2023.
The story came to this point, which was normal, but then strange things began to happen, including Lu Keping's investigation this time, which is inseparable from the bizarre story of Weichuang.
On the evening of December 22, Weichuang Co., Ltd. issued a self-inspection announcement saying that Liu Jun transferred 1.33 billion yuan of the company's funds to the bank account controlled by him through a condominium bank account from September 28 to October 27, 2023, and returned the full amount to the company on October 31, but since November 1, it has been transferred out of the company in batches and has not been returned.
According to Weichuang shares, on September 20 this year, Jiangsu Sunshine Group, the major shareholder behind Weichuang shares, signed the "Equity Transfer Cooperation Framework Agreement" with Jiangxi Xiling Energy. Under the arrangement, Xiling Energy will acquire control of Zhongshu Wolters Kluwer through an investment relationship in the next 12 months. And Liu Jun is the actual controller of Xiling Energy.
Here's what's interesting. Liu Jun, the actual controller of Jiangxi Xiling Energy claimed by Skyworth, does not exist in the company's equity structure. In its place was a legal person named Liu Chen.
So why is this Liu Jun, who is not a major shareholder and not a legal person, able to control the "co-managed" bank account? And what is the reason for such an amount to be swept away? At present, Weichuang shares have not explained.
However, some media found that this Liu Jun is not an ordinary person, and he has long controlled Qingkechuang Industrial Group, Suzhou Qingkechuang Investment Co., Ltd. and Suzhou Jinzhu Digital Technology Co., Ltd. Through these platforms, Liu Jun has successively joined Northeast Electric, Xinda Grease and other companies. At present, due to contract disputes, Liu Jun has been included in high consumption.
At present, Liu Chen, a Xiling Energy legal person shown in the industrial and commercial registration, also serves as a supervisor of Qingkechuang Industrial Group Co., Ltd. In January 2021, the Qingke Innovation Legal Person was changed from Liu Jun to Xu Nengxiang. In a sense, Liu Chen is just Liu Jun's front desk agent.
In the end, what happened between Xiling Energy and Weichuang shares, both sides are reluctant to mention it at present.
However, judging from the experience and capital operation methods of Lu Keping and Liu Jun, the acquisition money is so strangely delineated, to say that Jiangsu Sunshine is completely unaware or not involved, I am afraid that it needs to come up with strong reasons to be convincing.
03. Weichuang shares are frequently shocked
In response to the incident of Weichuang shares, the China Securities Regulatory Commission successively issued a notice of filing a case to Liu Jun, the proposed acquirer, and Weichuang shares on December 22. At the same time, the Shenzhen Stock Exchange urgently issued a letter of concern, requiring Weichuang to take all necessary means to recover relevant funds, safeguard the interests of the company and small and medium-sized shareholders, and carefully self-examine and rectify the deficiencies in internal control.
But for Weitron, the tricky things don't stop there. Recently, the drastic management changes of Weichuang shares have caused discussions on the market side and have been continuously concerned.
At present, in addition to the undisclosed resignation report submitted by Zhang Shuhan, secretary of the board of directors, to the board of directors on November 3, and independent director Zhang Wendong submitted his resignation report on November 30, 2023, the company's directors, secretary of the board of directors, deputy general manager Chen Xiang, financial director Zhou Feng, and deputy general manager Chen Xiaomeng of the company have submitted resignation reports in less than two months. And Chairman Lu Yu also resigned from his position as general manager and only served as chairman. A feeling of "get out of here".
According to the data of the third quarterly report, Skyworth achieved operating income of 363 million yuan in the first three quarters of this year, a year-on-year decrease of 15.68%, and a net profit of 13.471 million yuan, a year-on-year decrease of 82.36%, and the performance was extremely poor.
At the same time, in the third quarterly report, Li Ang, the company's director, voted against the "Proposal" because he could not guarantee the truthfulness, accuracy and completeness of the company's report for the third quarter of 2023.
Li Ang believes that the necessity and reasonableness of the procurement contracts signed between Weichuang and the two trading companies are doubtful, and it is impossible to judge whether there is a situation of occupying the company's funds through advance payment.
Now, with the CSRC's investigation into Weichuang shares, Liu Jun and Lu Keping, it is still unknown whether Weichuang shares will be earthquaked again, and what kind of story it will continue to be understood with the investigation.
But judging from the current situation, Lu Keping, who started from wool spinning, has too many threads wrapped around his body. Jiangsu Sunshine, which has not yet completed the family handover, is afraid that it is likely to be entangled in it.