Author: Chen Jiali Sui Kun
Editor: Chen Jiali
"Go here, go there, drink good wine from Song He", an advertisement that was once a smash hit, still echoed in my ears, and in a blink of an eye, the wine was gone.
Recently, Song He Liquor Co., Ltd. was exposed with heavy news, and the company has applied to the court for bankruptcy review. As of June165438+1October 10, it entered the bankruptcy reorganization stage according to the process.
In addition, there are 39 cases in Song He liquor industry that are listed as those who have been executed for breach of trust, 106 cases of restricting high consumption, and 10 cases of court enforcement, which can be described as debts and lawsuits. It seems logical to apply for bankruptcy review.
Why did the former "Royal Wine Brother" fall here? This is inseparable from a key figure-Zhu.
In 2002, when Songhe Winery faced operational difficulties, Zhu of Furen Pharmaceutical became a "white knight" and took it into his pocket at a price of 50 million yuan, and changed its name to Songhe Winery.
In the past 20 years, under the leadership of Zhu, Song He wine industry experienced a highlight moment, but was finally dragged into the abyss of bankruptcy.
With the rise and fall of Song He's wine industry, Zhu himself is changeable. From the richest man in Henan to Lao Lai, his fate is full of mystery.
"Take medicine and drink water"
In his hometown, Luyi County, Zhoukou City, Henan Province, Zhu's name is a household name, and many people relish his story. But strangely, when asked about his family history, few people can make it clear.
Some media asked him this question, and he simply said, "Heroes don't ask the source.". Among several local versions, the most mainstream one is that he made a fortune in stone business in Shanxi in his early years.
Zhu likes to associate the starting point of his career with Henan Sanwei Pharmaceutical Company established by 1993. That is the starting point for this "Henan drug king" to enter the pharmaceutical industry.
1995, Zhu started to build Fu Jen Pharmaceutical Group Co., Ltd. ... Two years later, Fu Jen Pharmaceutical was formally incorporated with a registered capital of 654.38+0.2 billion yuan.
After the establishment of Furen Pharmaceutical, the pharmaceutical businessman seemed to become a capital tycoon overnight, and quickly expanded his business scale through mergers and acquisitions.
Songhe Winery became Zhu's first "prey".
In the 1980s and 1990s, the advertising slogan "Go here and go there, drink good wine from Song He" resounded throughout the country. Songhe Winery, established in 1968, is a well-known wine enterprise in Lu Yi.
Since the beginning of the new millennium, with the market changes and other reasons, Songhe Winery has plummeted, and by 2002, its operation has been unsustainable.
At this time, Zhu appeared.
After investing 50 million yuan to obtain the right to operate Songhe Winery, Zhu became a "capital crocodile" spanning the two star markets of medicine and liquor.
In Zhu's hands, the reformed Song He wine industry came back to life.
In 2003, the marketing amount of Song He wine industry reached 320 million yuan, which kept pace with Furen Pharmaceutical and became two "trump cards" in Zhu's hands.
At that time, the industry joked that Fu Jen Group started a new model of "taking medicine to support doctors".
In the same year, Furen Pharmaceutical acquired Henan Kaifeng Pharmaceutical Group, which once again triggered a heated discussion.
At that time, Fu Jen Pharmaceutical was still a local pharmaceutical company, and Kaifeng Pharmaceutical's ancestors were "rich people".
Kaifeng Pharmaceutical, formerly a state-owned enterprise, was established in May 1945. In 1950s, Kaifeng Pharmaceutical Factory was one of the only four pharmaceutical factories in China that could produce vaccines. The famous mathematician Hua personally went to the factory to give lessons to the workers. From 65438 to 0995, Kaifeng Pharmaceutical became the first enterprise approved by the Ministry of Health to produce cephalosporins.
In 2000, Kaifeng Pharmaceutical was restructured. At that time, Zhang Hai, president of Jianlibao, the "national wine", proposed to acquire it at a price of 90 million yuan. But in the end, Kaifeng Pharmaceutical fell into Zhu's hands at a price of 50 million yuan.
Zhu Neng won Kaifeng Pharmaceutical at such a low price, which made countless people imagine, and the mystery is still unknown. However, it is undeniable that since then, the development of Fu Jen Pharmaceutical has entered the "fast lane".
654.38+08 billion cash "missing"
Before 20 17, Zhu performed well in the pharmaceutical and liquor markets, at least it seemed so.
In 2006, Furen Pharmaceutical listed on the backdoor ST Minfeng, becoming the largest pharmaceutical enterprise in Henan Province. At the same time, the development of wine industry in Song He is booming. In 2006, the sales of Song He liquor market reached 680 million yuan, nearly six times higher than when it was just acquired.
20 12 Zhu is worth 7.6 billion, winning the richest man in Henan for the first time. 20 13 is worth 8.5 billion yuan and once again becomes the richest man in Henan.
But by 20 17, the "script" suddenly changed.
That year, Zhu replaced Wang Yang, the former head of Song He wine industry, who was known as "Mulan in wine industry", and changed two relatives. This made him fall into the controversy of "cronyism".
Wang Yang
At that time, Song He's wine industry was no longer a "property" with record sales. According to the regional agent of a series of products of Zhengzhou Song He Liquor Industry, the product line of Song He Liquor Industry is very complicated, and only a few series sell well.
This situation seems to be not without reason. In order not to affect cash flow, large-scale acquisitions of enterprises are often accompanied by large-scale borrowing. During Zhu's crazy "buying in buy buy", his enterprises were mortgaged and financed countless times.
According to public information, by the end of 20 19, there were 422 cases involving Song He liquor industry, with 12 mortgage loans due, and the amount to be repaid was about1975438+0.5 billion yuan.
In 20 19, Zhu, who owed 28.65 million yuan to Song He Liquor Industry, refused to perform the obligations specified in the effective legal documents on the grounds of "being able to perform" and was executed by the court for 9 times. Finally, on July 12, Zhu was listed as the person who broke his promise.
I thought that the decline of Song He wine industry would be the biggest crisis in Zhu, but it never rains but it pours. Another thing that happened in the same year put him in a situation of "beyond redemption".
In 20 19, the first quarter financial report of Furen Pharmaceutical showed that its revenue reached 65.438+0.369 billion yuan, up 65.438+0.02% year-on-year, and there was still 65.438+0.8/kloc-0.60 billion yuan in cash in its account. Soon, announced a decision of Zhu-dividends.
Prior to this, Fu Jen Pharmaceutical 13 went public and never paid dividends. Zhu was also called "Iron Rooster". This "plucking" can't help but attract investors to cheer.
But everyone was not happy for long. Only three days after the announcement, Zhu suddenly inexplicably announced a "bad news": the company account was only 3.3787 million yuan, and the dividend was cancelled.
Within three days, 654.38+08 billion cash was "missing". This dividend "thunder" caused an uproar in the market and also alarmed the CSRC. Many people began to doubt the authenticity of Fu Jen Pharmaceutical's performance and annual report.
June 5438 +2020 10, the administrative penalty decision issued by the CSRC clearly mentioned: "There are false records in the major asset restructuring documents of Furen Pharmaceutical, and there are false records and major omissions in many annual reports."
With the issuance of the Decision, Zhu also ushered in the most embarrassing moment in his life-he was banned from the securities market 10 years.
Can you be reborn?
According to media reports, Zhu's last appearance in public was at a symposium in Song He wine industry last August.
At that time, his face was thin and his expression was slightly gaunt. He personally introduced the operating conditions of Furen Pharmaceutical and Song He Liquor to the participants, hoping to promote the development of enterprises through strategic asset restructuring with the support of all parties.
bright red
As we all know, Song He wine industry is doomed to bankruptcy and reorganization after being involved in financial fraud of Furen Pharmaceutical.
"The direct reason why Song He wine industry is on the verge of bankruptcy is that Fu Jen Pharmaceutical, as its parent company, is entangled in lawsuits, and the related debt crisis has affected Song He wine industry, which has caused enterprises to fail to operate normally and its brand image has been seriously affected." Cai, liquor analyst and general manager of discretionary marketing, analyzed the reporter of global person.
Internal troubles remain the same, and foreign troubles are difficult to solve.
Cai said that in recent years, with the upgrading of the consumption structure of the whole industry, China wine has entered the stock competition market. Song He Liquor and other regional brands have low brand value and strong channel competitiveness, but they are faced with the double attack of first-line famous wines such as Maotai, Wuliangye and Laojiao, and famous wines from Yangshao and Du Kang.
However, it should be noted that bankruptcy reorganization is different from bankruptcy liquidation, and bankruptcy reorganization means that enterprises will completely die out. Bankruptcy and reorganization may be reborn in the future by reorganizing debtor's assets, reaching a reorganization plan with creditors and introducing strategic investors.
Cai believes that Song He wine industry, as a regional famous wine in Henan, has certain brand historical and cultural background and quality concept support. In the future development, it is a pragmatic path to do a good job in the local market first, then gradually improve the product structure, and then expand outward.
He suggested that Song He wine industry should consider new marketing modes in the future, including winery experience marketing mode and new retail live broadcast mode, which are all good attempts.
Song He wine industry, which was rescued by Zhu 20 years ago and dragged into the debt quagmire by Zhu 20 years later, is doomed, waiting for the emergence of the next "white knight".
Chief producer: Lv Hong
Producer: Zhang Jiankui
Editor: Xu
Editor: Su Rui