On December 24, the Beijing News Shell Financial Reporter learned that the Shanghai Financial Court recently issued the (2020) Shanghai 74 Zhi No. 234 Consumption Restriction Order, showing that the court filed a case to enforce the applicant Bank of Zhengzhou Co., Ltd. West Building Materials Branch applied for the execution of the financial loan contract dispute of China Minsheng Investment Co., Ltd. (hereinafter referred to as "CMIG"), because CMIG did not perform the payment obligations determined by the effective legal documents according to the period specified in the enforcement notice, the court took measures to restrict consumption of CMIG in accordance with relevant regulations. Restrict CMIG and LU Benxian, the legal representative of CMIG, from implementing the prescribed high consumption and consumption behaviors that are not necessary for life and work.
Lü Benxian has been in office for a long time.
As early as August 2018, the Beijing News learned from sources close to CMIG that Li Huaizhen stepped down as the president of CMIG and was succeeded by Lu Benxian.
According to a document published in a previous bond issuance document of CMIG, Lu Benxian, male, Han ethnicity, born in January 1966, a member of the Communist Party of China, a postgraduate degree from Xiamen University, a master's degree, a senior economist, and enjoys special government allowances from the State Council. Lü Benxian has served as the Party Secretary and President of Luoyang Branch, Harbin Branch (now Heilongjiang Branch), Wuhan Branch (now Hubei Branch), Shenzhen Branch and Shanghai Branch of Bank of Communications, Director of Corporate Business of Bank of Communications and President of Beijing Management Department.
As the largest private investment group in China, CMIG has attracted much attention since the emergence of funding problems in 2019. In February 2019, Lu Benxian, president of CMIG, responded to cmIG's liquidity issue: "In the past few years, under the better market environment, we have indeed developed rapidly, from the initial total assets of more than 30 billion yuan to more than 300 billion yuan. In the face of changes in the internal and external situation, since the end of 2017, CMIG has begun to "double down and double mention" and implement strategic transformation, but the external environment has changed sharply, and the speed of transformation and its own adaptability are far from keeping up with the changing situation, resulting in the current passive situation. ”
Lu Benxian said: "In fact, many liabilities are due to mergers and acquisitions, which are passive liabilities. With the disposal and exit of the underlying assets, its liabilities will also be divested. More importantly, CMIG's net assets reach 80 billion yuan, which can fully cover debt and interest. We are confident that we can solve the current liquidity difficulties. ”
In order to cope with the difficulties, CMIG once launched a large-scale asset disposal work.
The Beijing News previously reported that some of CMIG's real estate and aviation assets had been transferred at the beginning of last year, and Hu Baosen's Henan Jianye Group took over a Hong Kong-listed company under CMIG that specialized in smart buildings, Chikuyou Zhizhuo Technology (0726. HK), Shi Guilu's Shaanxi Rongmin Investment Industrial Development Co., Ltd. took over part of the equity of CMIG International Logistics Financial Leasing Co., Ltd.
A few months ago, CMIG said that it had formally signed an agreement with Great Wall Asset Management Company to promote the implementation of the restructuring plan, according to the plan, CMIG's new energy, community services, leasing, medical care, real estate and other industrial operations will restore hematopoietic capacity by upgrading operations; investment-related sectors will further integrate assets and gradually achieve asset appreciation.
In September this year, Xiao Hongjiang, executive committee member of CMIG Group, said in an interview with Shell Finance that the government and shareholders attach great importance to CMIG and are actively saving, it can be said that there is great hope for getting out of the predicament, just around the corner; at present, various subsidiaries, including CMIG Xinneng, are actively self-help, "not waiting and not relying on it", combining support from all aspects with their own efforts to solve the problem.
On December 2, China Minsheng Future Holding Group Co., Ltd. (hereinafter referred to as "China Minsheng Future"), a subsidiary of China Minsheng Investment Group, moved to a new workplace and held a strategic communication meeting. Li Guangrong, vice chairman of the board of directors and CEO of CMIG, said that in the "self-rescue and defense war" of CMIG since last year, CMIG's future enterprise self-rescue is the most successful, stabilizing the team, preserving the platform, and achieving value preservation and appreciation of the business.
For the new strategic direction of Cmwing in the future, CEO Li Guangrong pointed out that the new strategy of CMIG in the future will cooperate with local governments and be very "grounded"; the new strategy truly understands the attributes of finance and insurance, that is, corporate attributes, financial attributes and social attributes, which is the inherent law of social development, and hopes that Zhongmin can maintain its strategic focus and persist in doing it in the future.
Along with the resolution of the debt problem, cmIG's upper structure has also changed.
The reporter noted that on February 13 this year, CMIG held an online meeting of the core team, which was attended by Mao Yonghong, chairman of the CMIG Emergency Committee, Li Huaizhen, vice chairman, China Great Wall Assets, Debt Committee, Executive Committee, CMIG centers/departments, cmIG first-level investee management team and key employees of CMIG. The meeting was presided over by Lu Benxian, director of the CMIG Executive Committee.
In June this year, CMIG held an extraordinary general meeting of shareholders and completed the establishment of a new board of directors and a board of supervisors. So far, within half a month, CMIG has set up a restructuring working committee and an executive committee, and formed the third board of directors and board of supervisors.
It is reported that this is the third board of directors of CMIG since its establishment. The new Board of Directors consists of 19 shareholder representatives. Among them, Mao Yonghong served as the chairman of the board of directors, and Yang Xiaoping, Sun Yinhuan, Zuo Zongshen, Shi Guilu, Li Guangrong, Lin Tengjiao, Lin Bo, Wang Liying and Wang Shuhua served as vice chairmen.
In the new board of supervisors, the shareholders and supervisors are composed of 7 shareholder representatives, including Zhou Haijiang, Gao Yangyu, Bai Hongmin, Zhu Yuehai, Jiang Liang, Shu Ruibin and Song Qifeng. Among them, Zhou Haijiang served as the chairman of the board of supervisors, and Gao Yangyu and Bai Hongmin served as vice chairmen.
It is also reported that Li Guangrong, chairman of Huaan Property & Casualty Insurance, has recently replaced Mao Yonghong, chairman of the MIC Emergency Management Committee, and fully presided over the work of CMIG.
According to the director's resume disclosed on the official website of Huaan Property & Casualty, Li Guangrong's current positions include vice chairman of the board of directors and chief executive officer of China Minsheng Investment Group.
Li Guangrong is the head of the Tehua department and a big man in the domestic insurance industry.
It is reported that Tehua Investment was founded by Li Guangrong in 1998, mainly engaged in various types of investment business, to financial services to the real economy, it invested in the first private insurance company in China - Huaan Property Insurance Co., Ltd. (hereinafter referred to as "Huaan Insurance"), or the controlling shareholder of Jingda Shares, an A-share listed company, and the second largest shareholder of Liaoning Chengda.
In recent years, the Tehua Department has been caught in a storm.
In April 2018, Li Guangrong, the head of the Tehua department, was arrested on suspicion of bribery and subsequently released on bail pending further investigation. In August 2019, Li Guangrong was released on guarantee pending further investigation and exempted from prosecution.
Reporter Zhu Yueyi Zhao Yibo Editor Li Weijia Proofreader Chen Diyan
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