Author 丨 City Boundary Shen Miao
Edited by 丨 Lang Ming
Recently, Li Fucheng, the actual controller of the listed company Fucheng shares, was reported by many media for his tax-related investigation. On September 9, the relevant personnel of the Hebei Provincial Taxation Bureau said in an interview with the Reporter of China Business Daily that the tax-related cases of Fucheng Group were handled by the Provincial Discipline Inspection Commission, and the relevant situation required confidentiality, and it was inconvenient to disclose the details.
On September 10, Fucheng Co., Ltd. issued an announcement confirming that the company's related parties are involved in tax and economic cases and are cooperating with the investigation, and there is no further conclusion on the case.
The announcement clarified that the actual controller Li Fucheng is currently performing his duties normally, but the rumors of this "legendary figure" have never been broken. On the one hand, he is an inspirational representative from raising cattle to the richest man in Yanjiao, on the other hand, Li Fucheng and his family have been rumored to be negative, in addition to tax issues, his son has repeatedly exposed news such as black-related and "bully", and his grandson's death in a car accident in 2016 has also been rumored to be "another insider".
At the end of 2018, Li Fucheng, who had resigned from all positions in the listed company at the age of 72, re-emerged. Is it the old man or the premonition that the building will fall?
Started with cattle breeding
Specially built a house for "North Drift" and became the richest man in Yanjiao
Li Fucheng is known as "Li Bancheng" in Yanjiao, as the name suggests, because in everyone's impression, half of Yanjiao is his.
Fucheng Fat Beef, Fucheng Hot Pot, Fucheng Tea Restaurant, Fucheng International Trade City, Fucheng Jewelry City, Fucheng Shopping Center, Fucheng Apartment, Shangcheng, Youth Community. Li Fucheng's industry covers the food, clothing, housing and transportation of the people of Yanjiao.
And a few decades ago, Li Fucheng was just a cattle breeder.
In 1981, 39-year-old Li Fucheng raised 12,000 yuan to open an oil mill to make sesame oil and sell it in the streets. Later, he found that the sesame sauce residue produced by sesame oil could be used to feed cattle, so he founded the Xinglongzhuang Cattle Farm in Trois-Rivières to raise cattle. The business of raising cattle has become bigger and bigger, and it has also brought a lot of honors to Li Fucheng.
In April 1994, Mr. Li Fucheng was awarded the title of "National Cattle Raising Champion" by the Ministry of Agriculture, in June 1996, he was awarded the title of "Provincial Cattle Raising Champion" by the People's Government of Hebei Province, and in January 2001, he was awarded the title of "National Advanced Worker of Agricultural Science and Technology" by the Ministry of Science and Technology, the Ministry of Agriculture, the Ministry of Water Resources, the State Forestry Administration and other four departments at the National Agricultural Science and Technology Conference.
In 2002, Hebei Fucheng Real Estate Development Co., Ltd. was established, and Li Fucheng began to become one of the earliest real estate developers in Yanjiao. Unlike most real estate developers, Li Fucheng has targeted the "North Drift" family with relatively low economic ability, believing that as long as this group still exists, the house will always have business to do.
Therefore, the house developed by Fucheng is mainly low in price, of course, its quality is also frequently problematic, compressing the construction period, leaking water, falling off the wall, and the sound of spit on the Internet has never been interrupted.
However, this has not affected the development and expansion of Fucheng Real Estate all the way, and gradually become one of the "Four Giants of Yanjiao Real Estate", the other three are Huifu, Yanda and Xingda Real Estate. Among them, the Shangcheng project created by Li Fucheng single-handedly created a sales myth of "5.5 billion yuan in ten months".
In 2004, Fucheng shares were listed on the Shanghai Stock Exchange.
Play with the capital markets
Become the first stock of funerals, never "cut leeks"
From the financial statements, from 2005 to 2007, Fucheng shares achieved net profits of 10.15 million yuan, 17.88 million yuan and 19.43 million yuan respectively. In 2010, it even ushered in the first loss of Fucheng shares, with a net profit of -33.4 million yuan.
The cattle breeding field was sluggish, and Li Fucheng began to turn. In 2014, Fucheng spent a huge amount of 1.5 billion yuan to acquire 100% of the equity of Beijing Pagoda Cemetery and began to enter the funeral field. Fucheng shares have been transformed from "the first share of cattle raising" to "the first share of funeral". In the following years, the funeral business brought a lot of profits to Fucheng shares. With a high gross yield, the profit contribution rate of the funeral industry is increasing year by year.
It is worth noting that Since the company was listed, Li Fucheng and his family have never reduced their holdings, and shareholders have paid dividends on time every year. Except for 2010, Fucheng shares have not suffered losses. From the perspective of stock prices, Fucheng shares have risen by 6.4 times since their listing, and have risen 2 times so far. Therefore, the image in the hearts of shareholders is quite "glorious".
The interim report just released also performed well: in the first half of the year, Fucheng shares achieved revenue of 720 million yuan, an increase of 2.47% year-on-year; net profit attributable to the mother was 86.72 million yuan, an increase of 1.51% year-on-year.
In 2014, after leading the acquisition of the pagoda cemetery, 68-year-old Li Fucheng resigned from all positions in the listed company and completely handed over the shares of Fucheng to the eldest son, Li Gaosheng, to take over.
In 2016, the Li Fucheng family was listed on the Hebei Hurun Rich List for the first time, with assets of 6.6 billion yuan, ranking ninth.
Negative news keeps coming
The son was rumored to be involved in the crime and attacked the police, and the grandson died in a car accident
On the other hand, Li Fucheng and his family's reputation in Yanjiao is far less than that in the capital market.
Since the beginning of the real estate business, the news of the Li Fucheng family's involvement in the black market has continued. In 2007, several media reported that Li Fucheng's second son, Li Gaoqi, led more than 30 people to beat and seriously injure three police officers.
In 2017, the Global Network, the Rule of Law Evening News and other media published a report titled "Yanjiao Underworld Wantonly Running Rampant: Late-Night Stalking Sticks and Death Threats". According to the content, the property in the Yanjiao Ideal New City Community shoveled some of the green space into parking spaces, and many campus owners were either beaten after defending their rights, or the doors of their homes were painted and they suffered death threats. The ideal new city is the real estate developed by Li Fucheng, and the property is Fucheng Property.
Although Li Fucheng and his company have repeatedly come forward to clarify, for many years, the Li Fucheng family's "involvement in black" has been circulating in Yanjiao. What is even more lamentable is that at the end of 2016, Li Fucheng's grandson Li Xu was unfortunately killed in a car accident in Yanjiao while driving Bentley drunk, and the place of the incident was "Fucheng Road" named after Li Fucheng.
On the issue of taxation, this is not the first time that Fucheng Group has been investigated. As early as 2016, Fucheng Real Estate was twice administratively punished by the Sanhe Municipal Land Taxation Bureau. In January 2017, Lianfu Real Estate was again punished by the Sanhe Municipal Local Taxation Bureau, and in May of that year, it was punished by the Jingxing County Local Taxation Bureau in Shijiazhuang City.
It is worth noting that Li Fucheng, who has retreated behind the scenes, announced his comeback at the end of 2018 and said that he "does not make Fucheng shares bigger, and he is ashamed of the name of "China's bull king".
As for the tax-related storm, from the public information, the 200 million shares of Lianfu Real Estate have all been frozen by the Hengshui Municipal Public Security Bureau, and the freezing period is until January 30, 2020. According to The China Business Daily, a number of people familiar with the matter revealed that Fucheng Group falsely issued VAT invoices of about 200 million yuan in Hengshui City.
At present, the case has been handed over to the Hebei Provincial Discipline Inspection Commission and the procuratorate, and the outcome is still unknown.
Interestingly, the last time Fucheng shares were so concerned by the capital market was three years ago. On October 13, 2016, Soochow Securities released a report entitled "Fucheng In-depth Research Report II: Doubling the Market Value of Three 10 Billion Supports", written by researchers Ma Haobo and Tang Weiliang. The report touted Fucheng shares, saying that "Fucheng shares are the absolute leader in the future of the funeral industry, and 3 10 billion yuan are worth paying attention to." ”
In November of the same year, the Jiangsu Securities Regulatory Bureau determined that there were serious problems in the quality of the report, interviewed Ding Wentao, director of the Soochow Securities Research Institute, and analysts Ma Haobo and Tang Weiliang, and ordered Soochow Securities to make corrections within a time limit.
From being chased by the capital market to today's uncertain future, Li Fucheng, who single-handedly created the first share of A-share cattle breeding and the first share of funeral, is he still capable of turning the tide this time?
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