Mr. Hu, an insider, warned our reporter that Chen Jinyi's downfall was probably related to his huge investment in the "water to oil" project. Two years ago, Chen Jinyi also confirmed to our reporter many times that the "water to oil" project really cost him a huge sum of money.
But this statement was denied by Wang Xianlun, the former partner of Chen Jinyi and now the chairman of Fujian Xinshiyuan Petrochemical Development Co., Ltd. "Chen Jinyi's huge debt was in the period of Jinyi Group before 24, not the so-called emulsified oil project of changing water into oil." On August 4, he told the reporter of China Business News.
According to Wang Xianlun, in December 23, Chen Jinyi claimed that he was cheated of millions of yuan for investing in Zhuhai Keheng Company. When he learned that Wang Xianlun, who worked for the company, had the patented technology of emulsified oil, he wanted to cooperate with him to develop it.
On January 3th, 24, Wang Xianlun and Jinyi Group signed the Patent License Contract for High Energy Liquid Fuel (hereinafter referred to as the Contract). It is agreed that Zhejiang Jinlun Xiaolin Clean Energy Co., Ltd. will be established by mutual investment with a registered capital of 2.8 million yuan, with Wang Xianlun as the vice chairman and chief engineer, and Jinyi Group contributing 1.8 million yuan in kind and cash, accounting for 32%.
In March, 24, Wang Xianlun found an abandoned mineral water plant full of weeds in Haiyan County, Zhejiang Province, transformed it and set up a demonstration factory of emulsified oil Haiyan. Except for two sets of special equipment and two 5-cubic-meter reaction kettles, the production equipment needed for building the factory is basically second-hand. In fact, up to now, there are still several million yuan unpaid for this project, including the design fee of Fujian Petrochemical Design Institute, the purchase fee of special production equipment and personal investment.
"Except for the renovation of buildings, the real investment of the project does not exceed 1 million yuan. This can be reflected in the financial accounts of the demonstration factory. " Wang Xianlun said that Chen Jinyi had been in debt of more than 8 million to 1 million before March 24, and it was a complete scam to invest money in developing new projects.
Our reporter also learned from Fujian Petrochemical Design Institute that up to now, the institute has been owed 2, yuan in design fees by Jinlun Xiaolin Company, and repeated reminders have failed.
Wang Xianlun believes that the main reasons for Chen Jinyi's huge debts include: poor management of the company, resulting in a large amount of funds flowing into the personal pockets of some management; Investment projects have repeatedly failed; Chen Jinyi premeditated to deposit a large amount of funds into foreign bank accounts.
Mr. Qin also told our reporter that around 22, Chen Jinyi had invested in many projects, such as drinks, tourism, hotels, Chinese search engines, highways, pharmaceutical factories, hydropower stations, etc., but most of them ended up in vain. "Because of careless investment, the front line was stretched too long, and he began to get into debt at this time."
Mr. Qin revealed that in 22, Chen Jinyi met a Wenzhou businessman (hereinafter referred to as "W"), and the two parties jointly developed a landscape real estate with an area of 35 mu in Hangzhou. At that time, Chen Jinyi held 51% of the shares and W held 49% of the shares. "W first invested 5 million yuan as an initial investment project. After receiving the money, Chen Jinyi did not invest in real estate, but diverted it.
It was around that time that Chen Jinyi met Wang Xianlun. "At that time, Chen Jinyi excitedly told W that he had a very advanced energy project in the world and there would be a big market in the future, but his own funds were not enough. I hope W can invest." Mr. Qin revealed that it was under Chen Jinyi's repeated lobbying that W lent Chen Jinyi 2 million yuan again.
Mr. Qin said that at that time, Chen Jinyi made it clear to W that once the investment was successful, he would not only pay off all the foreign debts, but also get rich and continuous profits with W.
On September 9th, 24, the new fuel oil "Jin Lun Oil", which can replace diesel oil, kerosene and heavy oil, was officially launched. However, at this time, Chen Jinyi and Wang Xianlun had a contradiction. "Chen Jinyi thought at that time that he had mastered the core technology and he could lead the production, so he made an excuse to drive away Wang Xianlun." Mr. Qin said.
the crisis began to appear. "At this time, the oil products are actually not very stable, and some improvements are needed in details, but the experts have left and no one is guiding production. In addition, Chen Jinyi's capital chain has also begun to be tense. " Mr. Qin said that in this case, Chen Jinyi's emulsified oil sea salt base could not be produced on a large scale.
In July p>26, Chen Jinyi exposed his "debt gate", at which time his capital chain became more tense and his management began to become chaotic. Mr. Qin said that one of its performances is that the management keeps changing, and many excellent doctors and returnees have left in Jinyi Group for a long time. "What he needs is not talents, but people who have to listen to him."
In p>27, due to several creditors forcing debts, the emulsified oil project base on which Chen Jinyi hoped to make a comeback was sealed up, completely losing the capital to pay debts. Mr. Qin said that after the court's judgment, including interest, at this time, Chen Jinyi only owed W more than 15 million yuan. "Only more than 2 million of this was caused by the' water-to-oil' project, and the rest were former debts."