East Tower: Deliberately Concealing The Background Of State-Owned Assets?

In the introduction of its history of development, the East Tower (002545, stock bar) did not mention the Design Institute of the Ministry of radio, film and television, which has played a key role in its development.

In November 29th, the East steel tower, the main steel structure and tower products, will be sprinting the small and medium-sized boards.

Earlier, there were two Tita listed companies listed on the small and medium board listing of Tita (002359, stock bar) and the GEM listed Meteno (300038, stock bar).

Once the East Tower is listed, the Han Kerong family has a 100% stake before the issue and a 74.93% stake after the issue, which is 1 billion yuan.

However, the survey of entrepreneurs found that the East Tower was complex, and its predecessor was a joint venture company formed by a number of radio and television systems. But in the prospectus, this did not mention anything.

Why is the East Tower deliberately concealing its historical evolution? The motive behind it deserves attention.

Pre history of radio and television joint venture

According to Han Kerong's youngest daughter Han Meiru MBA's graduation thesis, "how to make a big rural enterprise - the development strategy of the East Tower", Han Kerong was born in the rural area in 1940, graduated from middle school in Qingdao, and graduated from Miyun Reservoir in Beijing after graduating from junior high school. She worked in coal mines, pig farms and chemical plants. After marriage, she returned to Qingdao Town, Jiaozhou, and later to Han village in the North Wang Zhu town.

Since 1978, Han Kerong has begun to do small businesses and earn some money.

According to the Oriental Tower prospectus, Han Kerong, who was 42 years old, contracted the galvanized factory of village collective enterprise after Han village in 1982, from 1983 to 1986.

At that time, Han Kerong was aiming at the market of electric power infrastructure, which had huge market demand.

In August 1986, the South Korean villagers' committee renewed Han Kerong's contract with the new galvanizing plant, and agreed to invest 200 thousand yuan in the galvanized plant by Han Kerong, of which 90 thousand yuan was invested in Han Kerong's personal name, and 110 thousand yuan was invested in the name of the workers. All of them were actually Han Kerong's personal investment, and the galvanizing factory continued to operate by Han Kerong.

In October 9, 1986, after the approval of the rubber County Economic Committee, the Han village committee established the "Qingdao rubber County iron tower factory", and in 1987, Han Kerong operated in the name of the iron tower factory.

In 1986, a major event that affected the development of the East Tower was observed.

According to Han Meiru's article, this year, the salesman of Han Kerong contracted to a regional television turntable project in Lianyungang, Jiangsu (601008, Guba), and asked to build a TV Tower with a height of 56 meters.

Han Kerong had never been in contact with the broadcasting and television industry before. So he passed the deputy director of the Qingdao Broadcasting Bureau, who was the managing director of the construction company, met the director of the design department of the radio and TV Department, the director of the tower mast, Tang Yude and chief engineer Tao Yadong, and led them to finish the design of the TV Tower.

In fact, in 1986, the country put forward the goal of "television turnaround in counties and counties", which allowed Han Kerong to see opportunities in this field.

But at that time, the rubber tower plant was only a small village run enterprise, developing slowly on its own, and it could only seize a small fortune and seize the big opportunity.

In the Lianyungang project, Han Kerong realized the role of the broadcasting and Television Design Institute, so he offered to cooperate with the broadcasting and Television Design Institute.

The Design Institute of the Ministry of radio and television came forward, and was jointly organized by the 5 units of Jiaozhou (February 1987, rubber County, building city) tower plant, Heilongjiang broadcasting equipment installation company, radio and Television Department installation engineering company, Hainan radio and TV engineering service company, etc., to form a new company, Qingdao east tower company (registered in Qingdao and Jiaozhou city), and held its first board meeting in Beijing Yanshan hotel. The decision was made by Qi Yongyi, vice president of the design department of the broadcasting and Television Department at that time, as chairman of the board of directors, and Han Kerong as general manager. The director of the design department of the broadcasting and Television Department, Tang Yu De, is the deputy general manager of TA mast, and Tao Yadong, the chief engineer of TA mast, is the chief engineer. In May 1988,

These companies have their own strengths and complement each other, forming a one-stop service from design to installation.

Because of this background, in July 1988, Qingdao east tower company participated in the bidding of the 218 metre TV Tower in Guangzhou, and in January 1989.

Why is it deliberately concealed?

Obviously, the broadcasting and television system is of vital importance in the growth of the East Tower, but strangely enough, such an important history, the prospectus of the East Tower seems to be deliberately "fuzzy".

Prospectus is so stated: in April 1988, after the application of the Jiaozhou iron tower factory, the Qingdao Economic Commission "(88) ching Jing tune 127" agreed to "Jiaozhou iron tower plant as the main body, the establishment of Qingdao east tower company".

The assets of Qingdao Dongfang tower company were pferred from some assets of the iron tower plant (original galvanizing factory) with a registered capital of 250 thousand yuan.

Note that "until October 1989, all the remaining assets of the tower plant were pferred to the tower company. The registered capital of the tower company was changed to 7 million 360 thousand yuan, and the original iron tower plant was changed into a branch of the tower company, and it continued to exist as an illegal entity.

The tower company is mainly engaged in steel structure TV Tower, microwave tower, power tower, navigation tower, public antenna and other steel structures. Han Kerong is the legal representative.

Prospectus for the establishment of the Qingdao east tower company's content only refers to the "Jiaozhou iron tower factory as the main body, the establishment of Qingdao east tower company", did not mention the radio and Television Design Institute and other joint ventures.

According to the information seen by the entrepreneur in an open channel, until 2004, Han Kerong also applied with Tao Yadong for the patent of the insulation base of the MB self-reliance tower.

Why does the East Tower want to be so secretive about the history of joint venture with the broadcasting and Television Design Institute? "Entrepreneur" has repeatedly called the Dongfang tower's Dong Mi's telephone to get an explanation, but it has not been contacted.

But we can focus on the privatization of the tower plant in the following 1992.

In December 3, 1992, after the verification of the financial pactions between Han village committee and iron tower factory from 1986 to 1992, after seven years, the total amount of cash or bills and cash collected from the tower factory was 620207.55 yuan for the development of public welfare undertakings.

In order to repay the loan to the iron tower factory, the Han village committee and Han Kerong signed the "opinions on the treatment of the overrun iron tower factory of the Han village committee". The collective stock formed by the Han Han village committee based on the proceeds obtained from the contract tower and its original investment was 613144 yuan. After that, the Korean village committee pferred all the collective shares of the village to Han Kerong, and Han Kerong paid the loan to the Korean village committee.

That is to say, Qingdao east tower company (including its predecessor galvanized factory and iron tower factory) has been contracted and managed by Han Kerong. In addition to the initial investment, the village committee has not invested any money; after the village committee pferred the village collective stock in 1992, the tower company and the iron tower factory no longer have village collective assets.

After the privatization of the iron tower plant in 1993, Han Kerong began to privatize the Qingdao east tower company, which was founded by the Jiaozhou iron tower plant as the main body.

In August 30, 1993, the town government issued the notice on the confirmation of the results of the verification and verification of property rights and the definition of property rights of the joint venture enterprises in Qingdao east tower company, confirming that the assets of the tower company were 61 million 882 thousand yuan, the total liabilities were 47 million 450 thousand yuan, and the net assets were 14 million 432 thousand yuan.

In order to meet the requirements of the joint stock cooperative system, the town government will define the net assets of the 12 million 681 thousand yuan as the "1 million 751 thousand yuan net assets" of the "collective share", which belong to the staff members of the internal workers. Most of them belong to Han Kerong's personal (Hou Han shares part of the shares pferred to its 5 family members). The remaining 1 million 351 thousand yuan shares are held in the name of 34 employees, but the 34 employees do not actually invest and do not enjoy the relevant shareholders' rights and assets ownership.

In December 1992, after Han Kerong was granted the collective assets of the Korean village committee, all the property rights of the tower company were actually owned by Han Kerong.

At the same time, the Heilongjiang broadcasting equipment installation company, the radio and television installation installation company, and the Hainan radio and TV engineering service company also came out later. The broadcasting and Television Design Institute is still a partner. According to Han Mei's thesis, until 2002, Qi Yongyi remained the director of the East Tower.

Although these are all the dust of history, everything in the care manual of the East Tower is as if it had never happened before.

List of financial figures of the East Tower

Before 2010, June, 2009, 2008, 2007.

Revenue 730 million yuan, 1 billion 478 million yuan, 1 billion 315 million yuan, 1 billion 102 million yuan.

Net profit 83 million 860 thousand yuan, 143 million yuan, 61 million 530 thousand yuan, 55 million 10 thousand yuan.