Zhao Chunxia, The 85 Beauty Queen To Invest In Love? *ST Busen Has An Unexpected Price Limit.

In the evening of August 19th, *ST Busen released a reply notice on the letter of concern from the Shenzhen Stock Exchange. In the announcement, the company shareholders Busen group bluntly stated that "the board of directors led by Zhao Chunxia is unable to reverse the deterioration of the operation of the listed companies, and Zhao Chunxia himself runs away."

Reporters had previously reported that in August 15, 2018, the Zhejiang Securities Regulatory Commission issued a notice of conversation to Busen shares and decided to meet Mr. Zhao Chunxia, but Zhao Chunxia has not yet joined the Zhejiang Securities Regulatory Commission. In this regard, Zhejiang Securities Regulatory Bureau believes that Zhao Chunxia or has gone abroad, and asked Busen shares to explain the situation.

In response to the letter from the Shenzhen Stock Exchange in the evening of June 18th, Busen shares asked Zhao Chunxia, chairman of the Shenzhen Stock Exchange, that he was being treated overseas because of his health reasons. He failed to participate in the talks in person to the securities regulatory bureaus, but he maintained regular and timely communication with the regulatory staff of the SFC and returned home as soon as the treatment was over.

At that time, *ST Busen said that over the past year, the Fifth Board of directors of the company had held twelve meetings. Although chairman Zhao Chunxia was not in good health, he still insisted on taking part in such matters as telephone conference, etc., and had no comment on the deliberations. The company's production and business operations and other related matters involving the approval of the chairman were approved by Ms. Zhao Chunxia personally through the OA system.

In terms of production and operation, the organizational structure and performance appraisal adjustment made by the company in 2018 and cooperation with the Jingdong family in Suqian were completed under the personal co-ordination of the chairman Zhao Chunxia. Three of the 2018 companies appeared to have violated external guaranty lawsuits in 2018 (illegal external guarantees occurred during the actual control period of Xu Maodong). Chairman Zhao Chunxia personally coordinated all parties' strength, actively organized complaints, and promptly released the freezing of basic bank accounts of listed companies to avoid major risks in the production and operation of enterprises.

According to Baidu's data, Zhao Chunxia was born in 1986 and graduated from Beijing Forestry University. He is a PhD in finance from the Chinese Academy of social sciences. Zhao Chunxia, 19, joined Citibank after graduation. He is mainly responsible for private banking management and investment analysis. The investment direction involves BRICs new energy and mining sector. Venture capital started in 2010 and P2P platform was created in 2013.

At present, Zhao Chunxia is still the chairman, legal representative and acting Board Secretary of *ST Busen.

Born in November 1982, it was general manager and chief financial officer of *ST Busen.

In October 2017, *ST Busen announced that it would transfer the 22 million 400 thousand shares of *ST Busen to Zhao Chunxia's security technology, priced at 47.6 yuan per share, with a total transaction price of RMB 1 billion 60 million yuan. At the same time, Rui assets transferred the remaining 19 million 400 thousand shares of voting rights to the security technology. The technology became the largest shareholder of *ST Busen, and Zhao Chunxia became the actual controller of the company.

In addition, *ST Busen also revealed the latest operation and financial situation of "love investment" P2P net loan platform. It is reported that the main body of AI investment platform is an investment network (Beijing) Network Technology Co., Ltd., with a registered capital of 100 million yuan, and the legal representative and the controlling shareholder are Zhao Chun Xia. Since March this year, the platform has taken the initiative to suspend the new business of "compliance with sunshine". In view of the regulatory department's compliance record filing for the net loan industry, self inspection and on-site verification have been completed on the platform.

Since July 2018, a large number of borrowers have been overdue repayment. The platform has tried to resolve risks by increasing collection efforts, litigation, debt to equity swap, creditor's rights barter, and setting up SPV.

As of June 17, 2019, the platform has accumulated 157 enterprises to prosecute borrowings, involving more than 4 billion 600 million yuan. In order to speed up the disposal of overdue projects, under the coordination of relevant departments, in May this year, the platform reached a strategic cooperation agreement with the professional third party asset management body, namely, the national thick asset management Limited by Share Ltd (referred to as "national thick assets"). The future thick assets will take part in the platform's liquidation, debt collection, litigation and arbitration, and overall risk mitigation, so as to maximize assets and save losses for the lenders. At present, under the guidance of national thick assets, accounting firms and law firms are conducting special audits of the platform over the years and checking the capital flow of related products. At the same time, the overall disposal and recovery plan is being worked out.

Another verified, as of June 18th, AI investment platform has not been investigated by public security organs.

However, the official forum of AI Investment announced in August 6th that it had received a notice from the higher authorities that it would suspend the debt service in August 8, 2019 at 24:00, and rectify the debt repayment mode of debt enterprises.

At the end of May this year, he bought 22 million 400 thousand shares of *ST Busen stock controlled by Zhao Chunxia, through the judicial auction, with 284 million yuan, and then became the largest shareholder of the company. In recent days, he issued a notice calling for the removal of the board of directors, the election of directors and supervisors. Orient Heng Zheng invited Wang Chunjiang, Du Xin and other 6 people to be elected non independent directors of the company. He proposed to elect Deng Dafeng and Gao Peng as the non staff representative supervisors of the company, and proposed to submit the above proposal to the company's first provisional shareholders' meeting in 2019.

*ST Busen board of supervisors responded that the two motions concerning nominating the fifth independent directors of the board of directors and nominating the non staff representative supervisors of the board of supervisors were "in fact difficult to operate" and other reasons. They did not agree to submit the provisional proposal to the provisional shareholders' meeting for deliberation.

Subsequently, the Ministry of management of the SME Board of the Shenzhen Stock Exchange issued a letter of concern to Busen, requiring detailed explanations on the motion of the shareholders' meeting to consider the removal of all directors and supervisors and not for the simultaneous election of new directors and supervisors. At the same time, we request Dongfang Heng Zheng and other shareholders who proposed to recall and elect directors and supervisors to explain whether there is an agreement between the shareholders concerned about whether the number of *ST Busen voting rights can be expanded or whether the above shareholders are the same parties and their reasons.

Orient Heng said that since the judicial auction became the largest shareholder of listed companies, small and medium-sized shareholders are very worried about the current situation of listed companies. They are seriously dissatisfied with the current board of directors, board of supervisors and management. They strongly hope to start management replacement as soon as possible, improve the operation of listed companies as soon as possible, and maximize their efforts to turn losses into winners and pick up stars to remove their hats.

According to the reporter's announcement, by the end of the first quarter of 2019, *ST Busen had 11 thousand and 100 shareholders, down 849 from the previous period, with an average of 12534.47 shares per household. In love investment official website, the first textile network reporter also noted that the current official website data show that as of August 20, 2019, the love investment platform accumulated 24406 loans, the total amount of borrowing 49 billion 787 million yuan, the total number of registered users 5 million 680 thousand people.

As of August 1, 2019, the number of loans currently invested by AI was 95830, the balance of loans was 12 billion 909 million yuan, the overdue amount was 11 billion 110 million yuan, the total amount of compensation was 5 billion 484 million yuan, the amount of overdue 90 days (excluding) amounted to 7 billion 445 million yuan, and 6245 pens were overdue 90 days.

Reporters noted at the love investment forum that Zhao Chunxia, the chairman of love investment, stayed in the May 5th of 2019. Zhao Chunxia said: "chronic diseases that have been formed for many years and the acute diseases are not well managed. All kinds of difficulties are much larger than expected. At present, the government and relevant departments are asking for substantial support and help. In addition to tracing the legal liability that should be borne by the relevant persons who had malicious possession and other illegal activities in the operation, the legal representative of the platform, all the other responsibilities for causing the loss shall be borne by me at last. "

In the end, Zhao Chunxia concluded with such a passage: "do not ask for anything else, but do your best to hurt it!"

By the end of the press release, *ST Busen rose 5%, and the red disk was reported at 8.40 yuan / share.