On October 27, it was reported that Wang Mou, vice president of Excellence Group, had been sent to the judicial organs for handling, because of corruption, and the amount involved may be hundreds of millions of yuan.
The first financial reporter confirmed the news that Wang Mou was taken away to assist in the investigation from the Excellence Group. Outstanding insiders mentioned that wang's specific time and because of what these more detailed and conclusive information is not too clear.
"Zhongnan Land is dealing with assisting in the investigation, and the company (Excellence) does not have much information at the moment." The above-mentioned outstanding insider continued.
It is reported that Wang Mou has not yet completed one year of joining the Excellence Group. In November 2020, Excellence Group issued an internal document appointing Wang as vice president of the group, concurrently serving as the general manager of Chongqing Company and the chairman of Chengdu Company, and presiding over the daily work of companies in Sichuan and Chongqing.
Prior to joining Excellence Group, Wang was the president of Zhongnan Land Chengdu-Chongqing Regional Company.
Wang's overall career trajectory has a high degree of overlap with the company's executive chairman Chen Kai. On November 3, 2020, Excellence Group issued a document within the Group, "Due to the needs of business development, after the Group's research and decision, Mr. Chen Kai was appointed as the Executive Chairman of the Group, and comprehensively led the real estate development sector and asset operation sector." At that time, Wang's joining the Excellence Group was interpreted by some people as having factors that followed Chen Kai.
This market inference is not illogical. Earlier in 2017, Chen Kai came to Zhongnan Land to start the journey of 100 billion yuan for regional family housing enterprises, and Wang Mou took charge of the Chengdu-Chongqing area of Zhongnan Land, and in 2019, the amount of regional contract collection doubled by 10 billion yuan.
Earlier, in 2008, Longhu was about to be listed, Chen Kai jumped to Longhu as the general manager of the operation and investment development department, and Wang Mou worked from project manager to city general manager.
With decades of real estate experience, Wang has gone all the way from Longhu (00960.hk) to Zhongnan Land to Excellence, achieving multiple highlight moments. As for the detailed information that Wang Mou was taken away to assist in the investigation at the moment, it is still to be officially released.