In April 2000, Sanjiu Medicine (000999. SZ), the flagship company of Sanjiu Group, was listed on Shenzhen Stock Exchange, with an increase of 177.5% on the opening day, and raised nearly 167 billion yuan. But then, Zhao Xinxian began to expand M&A on a large scale, which led to frequent loopholes in the group's financial situation.
By 2003, the balance of bank loans owed by Sanjiu Group was 9.8 billion yuan, which was in a huge financial crisis. The bank forced them to pay their debts, their assets were seized, and their shares were frozen and pledged. Sanjiu group has almost reached a desperate situation. Zhao Xinxian himself was also detained by Shenzhen prosecutors at the end of 2005, and was sentenced to one year and ten months' imprisonment by Luohu District People's Court of Shenzhen in 2007 for "the crime of abuse of power by state-owned company personnel".
In 2008, after being released from prison, Zhao Xinxian finally returned to the Jianghu and joined Nanjing Xiaoying Pharmaceutical Group in a low-key way, a big infusion company that was not well known.
"Zhao Xinxian didn't appear in our company. He is now in his hometown in the northeast, and the weather in Nanjing is too hot recently. " Yesterday, a person surnamed Zhang in Xiaoying Pharmaceutical Office confirmed the news that Zhao Xinxian joined the company to China Business News, and said that Zhao Xinxian is currently a consultant, but the specific entry date has not yet been determined.
In the industry's view, Xiaoying Pharmaceutical is not an excellent enterprise. "Not too bad, but not too good." This is an industry insider's evaluation of this enterprise. As for the reason why Zhao Xinxian joined this time, the above-mentioned person surnamed Zhang only indicated that it was the decision of Yongtai Investment.
According to public information, Xiaoying Pharmaceutical, formerly known as Nanjing Xiaoying Pharmaceutical Factory, was established in 1967 and is under the Air Force Command of Nanjing Military Region. In February 2005, Yongtai Investment Holding Co., Ltd. was acquired at a premium and reorganized into Nanjing Xiaoying Pharmaceutical Group Co., Ltd. in July 2007. Xiaoying Pharmaceutical has a registered capital of 654.38 billion yuan. The business scope includes the production and sales of large-capacity injections, tablets, solutions (for external use), raw materials of buxine and basic bismuth carbonate.
Yongtai Investment is a large-scale investment management company focusing on industrial investment, which was established in February 2003. Yongtai Investment holds three major groups: Nanjing Xinsu Real Estate, Suzhou Xinhongtai Real Estate and Jiangsu Yongtai Pharmaceutical.