Behind the vaccine of longevity biological problems, in order to fulfill the performance promise and raise cash after backdoor listing, the entire fraudulent interest chain is suspected of PE corruption exceeding 3 billion yuan. On August 6th, the investigation team of the State Council announced the investigation progress of the case of illegal production of rabies vaccine by Jilin Changchun Changsheng Company. The investigation team believes that Changchun Changsheng Company has seriously violated the relevant provisions of good manufacturing practice and national drug standards in the production of rabies vaccine since April 20 14. Some of its batches were mixed with expired stock solution, and the date and batch number were not filled in truthfully, and the production date of some batches was marked upside down.
July 13, the problem vaccine incident of Immortal Organism (002680). SZ (now ST Changsheng) broke out, just three years after its backdoor listing on July 15. In fact, the backdoor listing process at that time was also the starting point for the frequent vaccine problems of this company.
In April of 20 14, after several investors invested nearly 600 million yuan to win more than 20% of the shares, Changchun Changsheng (the predecessor of Changsheng Bio) quickly planned to land in the A-share market through the backdoor of Huanghai Machinery, and gave the performance promise of accumulated net profit of1200 million yuan for three consecutive years, and finally ushered in the sustained explosive growth of income from important businesses such as rabies vaccine.
According to the investigation, from April 20 14 to February 20 14, Jianxing Investment Management Consulting (Shanghai) Co., Ltd. (hereinafter referred to as "Jianxing Investment"), Li Xing Investment Management Consulting (Shanghai) Co., Ltd. (hereinafter referred to as "Li Xing Investment"), Shanghai Woyuan Investment Partnership (hereinafter referred to as "Shanghai Woyuan"), Wuhu Zhuorui Innovation Investment Management Center (limited partnership), Zhou. (hereinafter referred to as "Beijing Huachou") has successively received the internal employee shares of Changchun Changsheng, mainly involving many senior executives such as He Ping, Sun Tianzhi and Sun Mingming of the former Southern Securities, and Shi Benning, a former senior partner of Beijing Jiayuan Law Firm who was a member of the Asset Securitization Expert Review Committee of the China Securities Regulatory Commission.
It is worth noting that behind the vaccine with longevity biological problems, the above-mentioned parties suspected of PE corruption changed their production technology and increased vaccine production in order to achieve a higher performance level, in order to achieve outrageous performance commitments and transaction consideration before backdoor listing. In the end, in order to fulfill the performance promise and boost cash after backdoor listing, the entire fraudulent interest chain is suspected of PE corruption of more than 3 billion yuan.
one
Turning over the reorganization report signed by Huanghai Machinery in February, 2065438+2005, the basic information of 20 Changchun Changsheng shareholders came into view.
Among them, the most striking are seven external shareholders of Changchun Changsheng, including Wuhu Zhuorui, Beijing Huachou, Yang Hong, Zhou Nanxin, Shanghai Woyuan, Jianxing Investment and Li Xing Investment.
According to the investigation, Jianxing Investment and Li Xing Investment are both shareholding platforms registered at the same time in February 20 14. 20 14 April, respectively, subscribed for 693,700 shares of Changchun Changsheng with a capital increase of 20.696 million yuan, and the shareholding ratio was 1.35%. * * nominated Zhao Jin as the director of Changchun Changsheng.
According to the disclosure, Jianxing Investment and Li Xing Investment are both shareholding platforms of Vivo Ventures, a foreign venture capital institution. As early as 20 10, during Changchun Changsheng's overseas listing, many funds under Vivo Ventures appeared in the list of its overseas listed shareholders, with a shareholding ratio of 1.35%. However, when the overseas listing was terminated on 20 12, its investment was returned and cancelled.
It is worth mentioning that following the departure of Zhao Jin, the external director of 20 15, He Ping, the newly appointed external director of Changchun Changsheng on the eve of backdoor listing, was nominated by Wuhu Zhuorui.
According to the disclosure of the reorganization report, on February 5, 2004, the contribution of Wuhu Zhuorui was increased from 1 million yuan to 28 1 million yuan, with new partners such as Guan, Bin, Hu, He Ping and Hu Yanzhu. The contribution of Zhuoguan Equity Investment Co., Ltd. increased from 9.9 million yuan to 50 million yuan. Zhuoguan Equity Investment Co., Ltd. is 65,438+000% invested by Orient Investment Co., Ltd., and its shareholders are Yang, Zhang Jun and Chen.
Among the above investors, Guan once worked in North Jiaotong University and other units, and before listing, he invested in HYSCO (002653) with Jinshi, a direct investment subsidiary of CITIC Securities. Lou worked in China Securities Market Research and Design Center from 65438 to 0992. After 2000, he resigned as a professional shareholder and became a famous Niu San, serving as the chairman of Wuhan Jinzhong CIC Investment Management Co., Ltd., and another investor of Wuhu Zhuorui, Chen Kuijun, served as the company's supervisor. Tian worked in 10, and served as managing director, TMT co-director, head of financial investment institutions, etc., and earlier worked in Citibank, Hong Kong Stock Exchange and other units.
What needs to be added is that behind Wuhu Zhuorui, Zhuoguan Equity Investment Co., Ltd. has changed its name and moved books many times. There is also a Wuhu Wang Qiao Investment Management Co., Ltd. behind the company, which was registered in April 20 1 1. According to the industrial and commercial registration data, the legal representative and executive director of the company are Shi Benning and the supervisor is Chen. , Guo Rui and Spinning held 75%, 65,438+05% and 65,438+00% of the shares respectively, and their shares were transferred to Yang in February 2065,438+07.
In addition to Yang, Chen, Zeng or still holding important positions and shareholder roles in a number of affiliated companies of Wuhu Zhuorui, Shi Benning was a member of the expert review committee of asset securitization of China Securities Regulatory Commission, and served as a lawyer partner and lawyer of Beijing Jiayuan Law Firm from 2000 to 20 1 1 April; 20 1 1 year 1 month-201year 1 1 month as the director of Yunnan Green Earth Biotechnology Co., Ltd.; 2011April has been the executive director and general manager of Chongqing Wang Qiao investment management co., ltd, the head of Chongqing Ding Feng investment management center (limited partnership) and the head of Chongqing Wang Qiao Darrouy equity investment center (limited partnership).
At the same time, Luo Jiameng, a supervisor of Wuhu Zhuohui Chuangshi Investment Management Co., Ltd., worked with Shi Benning as a lawyer of Beijing Jiayuan Law Firm in a number of A-share listed companies such as Huagong Technology and Lingyun. Another Li, who also has a lawyer background in Beijing Jiayuan Law Firm, once worked in listed companies such as Huazhong Numerical Control, Cangzhou Dahua and China, and co-founded Beijing Innocent Investment Co., Ltd. with Luo Jiameng. Since 20 10, Spinning and its affiliated enterprises have gained huge returns by buying shares such as Bangxun Technology (3003 12), Ankao Zhidian (3006 17) and Qingyuan Shares (603628) on the eve of listing. Only after buying Yunnan Hao Bo Bio-shares, they suffered two consecutive IPO failures.
Among them, Beijing Jiayuan Law Firm is a well-known investment bank in China. It has a high market share in the listing, refinancing, merger and reorganization of large central enterprises and military enterprises, which has attracted the attention of peers. Yan Yu, its founding partner, has been awarded the title of "Best Lawyer in Chambers China Capital Market" for many times since 20 1 1. According to informed sources in Beijing lawyers, Yan Yu has a good background. A person close to the securities supervision system also revealed that Yan Yu's spouse is Yang Zhihua, who served as the deputy director of the Institutional Department of the China Securities Regulatory Commission and the Commissioner of the Shenzhen Commissioner's Office (director level), and now serves as the supervisor of the Shenzhen Stock Exchange. However, the interface journalist failed to confirm the above two rumors, and could not know whether it was related to the interests behind many jiayuan lawyers such as Spinning.
two
There are many connections between Beijing Huachou and Wuhu Zhuorui. Wuhu Zhuorui's executive partner, Wuhu Zhuohui Shengjing Investment Management Center (Limited Partnership), was established by Wuhu Zhuohui Chuangshi Investment Co., Ltd., He Ping and Shi. Shi also has an important identity as the legal representative of Hengqin Crossing Capital Management Center (Limited Partnership), with a capital contribution ratio of 65,438+00%. One of the key clues is that the telephone number of the company in industrial and commercial registration is 134888 15269, and six companies including Qushui Huachou Enterprise Management Partnership (Limited Partnership), Qushui Huachou Enterprise Management Co., Ltd., Beijing Huachou Investment Management Center (Limited Partnership) and Qushui Huachou Enterprise Management Partnership (Limited Partnership) have been registered in the industrial and commercial registration system.
In addition, Gong Bin, a natural person, also appeared in the investor list of Qushui Huajian Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as "Huajian Enterprise") and Wuhu Zhuorui, while the legal representatives of Huajian Enterprise and Beijing Huachou are both Mao Yong, and Chen Huachen, Hu Yanzhu and others in the investor list also overlap.
According to the disclosure in the reorganization report, Beijing Huachou was established in June 20 14 by capital contributions made by Huang, Chen Huachen and * * *, with Huang as the executive partner; From 20 14 to 12, Huang withdrew from the partnership and Mao Yong joined the partnership, changing the executive partner to Mao Yong; 2065438+June 2005, Chen Huihuang resigned, and Chen Junyao, Gao Juan, He Qixian, Jiang, Li Ruipeng, Ling Zengxiu, Liu Ming, Luo Xiuqi, Wang Anke, Yan, Yu Junde, Shanghai Huaxuan Real Estate Development Co., Ltd. and Xihe Investment Co., Ltd. were in Fuzhou Development Zone.
From 2003 to 2007, Chen Huachen worked in the issuance supervision department of China Securities Regulatory Commission as a senior staff member. From 2009 to 20 1 1, he served as a director in the investment banking department of UBS Securities in Greater China. Another important identity of Xin Chen Junyao is that Shenzhen Capital Management Co., Ltd. holds 565,438+0% of the controlling shareholder, and its partner Peng holds 65,438+09% of the company's shares.
According to public information, Peng indirectly holds 0/7% equity of Shenzhen Hezhihe Venture Capital Co., Ltd./KLOC-and serves as the chairman and legal representative. Its partner Tang Dongyuan is the general manager of the company, holding 65,438+06.5% of the shares. Tang Dongyuan was the deputy general manager of Dapeng Securities Shenzhen Investment Bank Headquarters and the general manager of China Merchants Securities Asset Management Department.
It is further found that the above-mentioned list of Beijing Huachou investors is highly coincident with the list of investors of Beijing Bole Zongheng Equity Investment Fund Management Center (Limited Partnership) (hereinafter referred to as "Beijing Bole"). Among them, in addition to Zhou Nanxin and Beijing Huachou holding independent shares in Changchun Changsheng, investors such as Yu Junde, Yin Bo and Shanghai Huaxuan Real Estate Development Co., Ltd. contributed 65,438+04.22%, 7,654.38+065.438+0% and 65,438+00.43% to Beijing Bole respectively.
It is worth noting that the executive partner of Beijing Bole is Beijing Bole Zongheng Investment Management Center (Limited Partnership), and the legal representative of the latter is Ge Chunlai. According to the private placement network, Ge Chunlai of Bole worked in Beijing Securities Regulatory Bureau from June 2000 10 to September 20 13.
In addition, the investigation also found that Zhou Nanxin worked in Beijing Hanlinhui Co., Ltd. from 1999 to 200 1; From 2002 to 2006, he worked in Hantang Securities (Hantang Securities went bankrupt and liquidated on suspicion of embezzling huge customer deposits). In addition to buying shares in Changchun Changsheng, Zhou Nanxin also bought shares in Cao Meng Drought Relief (300355), Dongfang Xinxing (002755) and other IPO projects.
Another detail is that TCL Group 1999 participated in Beijing Hanlinhui Co., Ltd. in April and became its controlling shareholder in July 2002 through capital increase and share expansion. During the IPO of TCL Group in 2004, Yan Yu and Shi Benning of Beijing Jiayuan Law Firm were both handling lawyers.
three
According to the disclosure in the reorganization report, Shanghai Woyuan 201110 was established by Shanghai Woyuan Asset Management Co., Ltd., Sun Tianzhi and Sun Mingming * * *, with Shanghai Woyuan Asset Management Co., Ltd. as the executive partner and Xin Yuhai as the appointed representative.
20 14, 10 year122 October, Sun Tianzhi and Sun Mingming withdrew from the partnership investment; Sun joined as a general partner, and,,, Gu Qun joined as a limited partner; The subscribed capital contribution and paid-in capital contribution of the partnership decreased from 65,438+00,006,5438+00,000 yuan to 42,565,438+05,000 yuan, and Sun was appointed as the executive partner of Shanghai Woyuan.
2065438+In August, 2005, Sun signed an agreement with Shanghai Woyuan Asset Management Co., Ltd. to transfer all his capital contribution and become the executive partner of Shanghai Woyuan.
In-depth investigation found that Shanghai Woyuan and Wuhu Zhuorui also had the origin of the former Southern Securities executives. As the executive partner of Shanghai Woyuan, Yanhe worked in Nanjing Branch of Southern Securities Co., Ltd. from June 2005 1995 to February 2005 as the office director. Since April 2005, he has worked in Nanjing Zhao Hui Investment Management Co., Ltd. as executive director and general manager; Since May 2007, he has worked in Jinan Guo Rui Investment Management Co., Ltd. as an executive director; 2065438+Since September 2004, he has worked in Nanjing Jieshenyuan Energy Conservation and Environmental Protection Technology Co., Ltd. as an executive director.
What needs to be added is that, as the spouse of Yanhe, Sun Tianzhi once jointly funded the establishment of Shanghai Woyuan, but after the completion of the surprise shareholding, Sun Tianzhi, Xin Yuhai and others chose to retire on the eve of Changchun Changsheng's backdoor listing.
However, the investigation found that the true identities of Sun Tianzhi, Xin Yuhai and others were unusual: On February 26th, 2005, Sun Tianzhi, the former vice president of Southern Securities, was sentenced to two years' imprisonment and suspended for two years for the crime of manipulating the stock trading price. Xin Yuhai, former deputy general manager of Tianfa Company and manager of asset management department of Nanjing Branch of Southern Securities, and Sun Mingming, investment director of German company, were both sentenced to one year and five months' imprisonment. The gang was called fierce "Mengzhuang" by the market.
According to public information, Sun Tianzhi is currently the executive director and general manager of Shanghai Jie Shen New Energy Technology Co., Ltd.1From June 1994 to February 2003, he worked in Southern Securities as the vice president; 1From July 1997 to February 2003, Chairman of Shanghai Nanzheng Financial Consulting Co., Ltd.; From August 2000 to February 2003, he served as the chairman of Shanghai Tianfa Investment Co., Ltd.; From July 5438+0, 2006 to February 2003, he worked for Huade Asset Management Co., Ltd. as the chairman; From June 5438+0, 2009 to September 438+00, 2065, he worked in Shanghai Hui Ze Investment Co., Ltd. as an executive director; 2065438+Since February 2005, he has worked in Shanghai Jie Shen New Energy Technology Co., Ltd. as executive director and general manager; 20 16 to 1, and served as the chairman of Shanghai Gu Xuan investment management co., ltd; 2065438+Since February 2007, I have worked in Shanghai Lexus Enterprise Management Center (Limited Partnership) as an executive partner. Sun Mingming, as an important partner of Southern Securities, played an important role as a shareholder, legal representative, supervisor or chief financial officer in a large number of Sun Tianzhi's companies.
In addition, in the secret circles of Southern Securities such as Sun Tianzhi, Yan He, Sun Mingming and Xin Yuhai, there is also an important member-Fu Xiaofeng, who served as the general manager of the Wen Hui Road Sales Department of Southern Securities during the manipulation case of Southern Securities, and once held a 0/2% stake in Shanghai Hui Ze Investment Co., Ltd./KLOC-(revoked), and currently serves as the director and deputy general manager of Shanghai Yilinzhe Software System Co., Ltd. in this circle.
four
Incredibly, from April 20 14 to April 20 14 and June 20 12, the management level of Changchun Changsheng also experienced explosive growth.
According to public information, the net profit of Changchun Changsheng in 20 12, 20 13 and 20 14 years is only 6.5438+0.27373 million yuan, 6.5438+0.297969 million yuan and 20775 million yuan respectively. However, supported by the performance commitment that the net profit in 20 15-20 17 was 300 million yuan, 400 million yuan and 500 million yuan respectively, according to the latest operating conditions and future earnings at that time, the income method was adopted to give 550,094 to Changchun Changsheng 100% equity to be listed on the backdoor, and 830 yuan's valuation was 46544.
The investigation found that the above parties spent a total of 582,654,388+083 400 yuan, holding a total of 22.66% of the shares of Changsheng Changchun. In just a few months, the transaction consideration obtained in the process of backdoor listing increased by 574,306 500 yuan, and the value-added rate was close to 65,438+000%.
At the same time, the income of Changchun Changsheng rabies vaccine business began to explode in 20 14. Among them, in 20 13 years, the company's rabies vaccine business income was only 8468 1 10,000 yuan, accounting for only1.91%of the main business income; However, in 20 14 years, it reached 2 1 26,845,438+00,000 yuan, accounting for 34.36%, and in 20 17 years, it reached 734,259,500 yuan, accounting for nearly 50%, which became an important source of longevity biological performance.
Article source: Ji Xian. com