People'S Daily'S Statement Denied That The Debt Of 500 Million Yuan &Nbsp; Hua Wen Holdings Pfer Of Stock Change.

The overall listing of PICC has been included in the final stage. In order to achieve the overall listing, PICC has begun to clean up non-financial assets.

However, in clearing up the "Hua Wen" stock ownership, the JINGWAH Times published a statement in the people's daily, but pointed out that its audit and evaluation report had untrue contents.

A statement issued by the people's daily set obstacles for the auctions of equity auctions.

About to take over.

"This dispute between shareholders has nothing to do with us."

Mr. Xu, who is responsible for the project at the North exchange, told the Securities Daily that "after receiving the statement from the people's daily, the North exchange has conveyed it to the PICC, and the statement has been put on record, and buyers can see it.

As the relevant review of the auction is qualified, the auction will not be interrupted until July 5th. "

Some market participants speculated that in the face of the people's Daily's statement, the listing process of the PICC might be blocked.

Is there a debt of 501 million yuan?

People's Daily said in a statement: first, there are false contents in the audit and evaluation reports submitted by PICC, which may mislead the intention assignee and investors.

When people's daily reorganized Huawen holdings, it has reached agreement on matters related to debt and debt and participation in restructured company, including human insurance investment. There is no so-called "people's Daily" and its subordinate enterprises to cope with Hua Wen holding 501 million yuan.

It is understood that in June 2008, the PICC group received 860 million of China's information system, and gained 55% stake in Hua Wen holding and 54.21% stake in Guang Hui investment through PICC.

In a media interview, people who participated in the Huawei holding reorganization said that after being insured, the people's insurance company did not keep accounts and write offs in accordance with the agreement of the agreement and other documents. Instead, it recorded 500 million yuan receivables for newspapers and related units on the account of Hua Wen holdings.

The source said that the 501 million yuan receivables between the people's daily and Huawen holdings had already been deducted from the paction consideration value or the total amount of loss preparation should be written off according to law.

Therefore, there is no debt and debt relationship between Hua Wen holding company and newspaper office.

However, in fact, PICC did not deduct the value of the 501 million yuan or withdraw the loss preparation in full, but it was recorded in the accounts receivable. That is to say, after the auction, the people's daily will have a debt of 501 million yuan, which is not acceptable to the people's daily.

As a result, the people's daily will issue a statement denying the existence of the debt.

Obviously, once the 501 million yuan accounts receivable is settled, then the PICC will increase the value of its auctions in the auction, and the people's daily will pay the bill.

"This dispute is a matter between shareholders. It requires buyers to negotiate with the auctioneers themselves."

The above mentioned persons told reporters.

In June 8th this year, the PICC group pferred the two equity holdings held by its subsidiaries in PICC on the Beijing financial assets exchange.

According to the data released on the website of the exchange, the 55% stake in China Huawen Klc Holdings Ltd is 1 billion 268 million yuan, while Guang Lian (Nanning) has a 54.21% stake in Limited by Share Ltd, with a listing price of 867 million yuan.

In this auction, other shareholders have the right of preemption.

In addition to the 55% stake in the personal insurance investment group, the people's daily and Shenzhen Zhonghai Cci Capital Ltd (hereinafter referred to as China investment) are listed as two or three shareholders with a shareholding ratio of 25% and 20% respectively.

While the top five shareholders of the company are 54.21% of PICC, and none of the other shareholders has more than 5% stake.

It is understood that PICC has set a relatively strict purchase terms for the auction equity. First, it must accept both Hua Wen holdings and Guang Lian investment. The two is wholly state-owned or state holding corporate legal persons. The pferee should have experience in investment management for financial enterprises or financial enterprises, and at least directly or indirectly hold a stake of not less than 5% of a non bank financial enterprise.

In addition, "no consortium is granted".

So many conditions will shut out most businesses, but according to Mr. Xu, who is responsible for the project at the North exchange, there have been many businesses that have expressed their intention to purchase the auction, but the details are confidential.

In addition, some media pointed out that the people's Daily's statement was mixed with the ownership of the securities times.

Due to the auctions, Huawen holding shares respectively include 40% of the securities times, 38% of Zhongqing Kai Cheng, 25.05% of New Huangpu (600638, stock bar), 4.8% of joint securities and the project interests of Hangzhou Hyatt.

Therefore, the ownership of these shares will become a new focus after the 55% stake in Hua Wen Holdings has been sold.

PICC holding China News Department

Alleged interest pfer?

People's Insurance Group's auctions of "Hua Wen" share interest have attracted a lot of attention.

Recently, in the critical period of the overall listing of PICC, there were media reports that people's daily stakeholders agreed that the people's insurance group had the suspicion of using Huawen holdings to convey interest in disguised form, improving asset quality and increasing profit sources.

But there is no evidence to prove that the people's Insurance Group is suspected of pporting interest.

In fact, since the holding of "Hua Wen" by the PICC group, there has been suspicion and rumor about "interest pmission". There are market participants who are worried that such rumors will not be conducive to the overall listing process of PICC.

In 1999, Hua Wen holdings and Canton alliance jointly invested in the establishment of Shanghai Xinhua News Investment Co., Ltd., each holding 50% of its shares.

As the PICC group owns 55% stake in Huawei holding and 54.21% stake in Guang Hui investment, the PICC has controlled Xinhua News Investment Co., Ltd. in Shanghai by holding Huawen holdings and investment in Guangzhou alliance.

According to Caixin net, Shanghai Xinhua News investment is the largest shareholder of the New Huangpu company, holding 13.48% of New Huangpu.

New Huangpu has a number of futures, securities dealers, trust and other financial companies, the core assets of the China Thai trust and China Thai trust held by the 48% shares of the Dacheng Fund, considered as an important financial license resources.

At the end of August 2010, the Shanghai stock exchange was publicly condemned by the New Huangpu large shareholder, Xinhua News investment company of Shanghai, which illegally occupied the capital of listed companies. As the actual controller, Hua Wen holdings was also included in the public condemnation.

People's Insurance Group quit China News Department

Leaving fishing fund

The people's Insurance Group's exit from China's news department is already a nail in the cake. However, the people's Insurance Group has no feelings for China's news department, especially the Dacheng Fund, which is under the banner of Hua Wen.

Previously, although the people's Insurance Group held shares in China and indirectly held the stake in Dacheng Fund, because of the complexity of the relationship between the group and the Dacheng Fund, the PICC has always wanted to directly hold the Dacheng Fund directly under the New Huangpu fund, and has planned to pfer the matter.

However, in early 2010, there were new and small shareholders of Zhongtai trust and the trust company, which questioned and questioned that the pfer price was lower than the assessment price and the market price.

Finally, the SFC did not approve it.

The auctioneer "Hua Wen" shares, the people's Insurance Group has not abandoned the New Huangpu's trust in China and Thailand held by the Dacheng Fund 48% stake.

In the special commitment of the rating standard, PICC points out that after the pferee has accepted the bid, he will support the commitment of the PICC to grant the 48% stake in the Dacheng Fund of China Thailand Trust.

Wu Yan, chairman and chief executive officer of PICC, said he valued the Dacheng Fund, which is under the banner of Hua Wen.

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