Heng Tian Hailong "Control" Delivery Behind The Curtain "500 Strong" Ups And Downs, Looming 80 After The Creditor Becomes A Real Controller.

Yueqing, Wenzhou, a small Liushi Town, hidden dragon and tiger.

This is known as "the capital of China's electrical appliances", and Delisi, CHINT group and other large electrical enterprises.

And adjacent to the Liushi iron and steel market is the local large cable enterprises, "China's top 500 private enterprises" - Hing Lok Group Limited (hereinafter referred to as "xingle group").

Before the twenty-first Century economic report reporter's investigation, a number of sources revealed that the 12 enterprise that had won the "meritorious enterprise" in Yueqing, Wenzhou, has closed down.

In the A share market, more than a week ago, 000677.SH announced that 200 million shares held by xingle group, the controlling shareholder of Wenzhou, were awarded the highest bid price by Jingdong Kang Nan Technology Co., Ltd. (hereinafter referred to as "Wenzhou Kang Nan technology"). The auction price was 581 million yuan, and Kang Nan technology will hold 23.15% of the shares, thus becoming the largest shareholder.

Four years ago, xingle group also spent 1 billion 38 million yuan to take control of Heng Tian Hailong from the central enterprise China Heng Tian Group.

Just like a samsara, the reality is so similar; and the other, Heng Tian Hailong is changing frequently. What kind of capital drama will it play?

Fallen xingle group

Xingle group of Liushi Town Street industrial area, the most prominent entrance is "Zhejiang electric alliance Co., Ltd.", "Zhejiang Yang Jia Power Equipment Co., Ltd." and other company signs, "xingle group economic guard team" signs are in the corner.

Stationed security guard told the twenty-first Century economic news reporter, "by the end of 2018, xingle group had basically no one, and it had already been packaged and rented out."

Many years ago, he was also a security guard of xingle group economic escort. He interviewed the local media and introduced the experience of xingle group as a characteristic party branch.

In the short span of four years, there is only regret.

In 2015, Yu wenpin, the real controller of Wen Shang and Xing Le group 70, took the 200 million shares of Heng Tian Hai Long from China Heng Tian Group and was promoted to be a major shareholder of the listed company.

The price of 1 billion 38 million yuan may not be difficult for the xingle group at that time.

Now Wenzhou Kang Nan technology, which takes over the listed company, is a real Hu Xingrong, a post-80 generation Wen businessman. His more critical status is "the top 500 Chinese private enterprises", the head of Dover International Holdings Limited (hereinafter referred to as "Dover group").

What is intriguing is that there is a coincidence between xingle group and new Hu Xingrong.

In April 29, 2019, the judgment of the Supreme Court, "xingle Group Co., Ltd. and Zhejiang xingle Cable Group Co., Ltd., the second instance civil judgment of the enterprise loan dispute" shows that there is Hu Xingrong's appearance in xingle group's financing to Shanghai poly Financing Leasing Co., Ltd. (hereinafter referred to as "Shanghai poly goods").

Despite the fact that Xing Le group had no objection to the fact of borrowing, it raised objections to the location of the loan agreement, the main body of the loan and other details.

Xingle group argues that the agreement was not signed in Jinzhou, Liaoning, and the actual loan is not Shanghai poly product, but the outsider Hu Xingrong.

A porter of xingle group, who originally worked on the commons, told the twenty-first Century economic report reporter that "xingle group closed down". The reporter confirmed the news by multiple sources.

In addition, as of twenty-first Century, economic report reporters sent out, xingle Group official website has been unable to visit normally.

Enterprise investigation shows that Hing Lok Group has 18 dishonest information, 34 executive information, 24 share freeze information, and 63 court notices.

In April 29th this year, Heng Tian Hai Long also announced that xingle group and its controller, Yu Wen pin, were included in the dishonest executor. The specific situation is: the ability to perform and refuse to perform effective legal documents to determine obligations.

According to the twenty-first Century economic report, the financial difficulties of xingle group were revealed in 2018.

In July 20, 2018, xingle group's staff drew pictures of their banners for salary.

In the people's website, "local leaders message board", so far, we can also see xingle Group employees' "pay" posts. According to the post, xingle group began to default on wages from the end of 2017, and some of the wages were not paid in 2018.

According to the information of cable network, in July 2018, the low-voltage power cable of Fujian electric power company of the supply network of xingle group was sampled for quality unqualified products, but xingle group did not exchange goods on the basis of capital chain breakage and did not participate in interviews.

Similar situation also appeared in the same year in August, xingle group won the bid of the State Grid Hunan Electric Power Co., Ltd. 1617AH batch of power cable materials, winning the bid number of 18.015 kilometers, the amount of more than 640 yuan, but xingle group because of funds problems can not execute the contract.

In the afternoon of October 18th, in twenty-first Century, the economic news reporter obtained the contact form of Yu Le Wen, a real controller of xingle group from a reliable channel. However, a woman answered the phone and said, "people are not in Yueqing, mainly in North Canton", and subsequently declined to interview.

70, after the manufacturing industry "acclimatized"

Xingle group, founded in 1985, has gone through more than 30 years.

Yu Wenpin, a real controller of xingle group, was a 70 businessman in Wenzhou and worked in Yueqing Telecom Bureau.

As a large cable integrated enterprise, xingle group involves wire and cable, enameled wire, electrical machinery, electrical copper rod, polymer materials, power transmission and distribution equipment manufacturing and other fields, and also involved in finance and electricity suppliers.

Whether it is the Three Gorges Project of the Yangtze River, the Beijing Guangzhou automation railway, the Shanghai metro, the Shanghai F1 international circuit, the Guangzhou Baiyun Airport relocation project, the Yongtai Wenzhou Expressway and the Shanghai deepwater port cross sea bridge, there are products of xingle group.

He was selected as the "top 500 Chinese private enterprises", "China's top 500 machines", "China's top 20 wire and cable companies", "Zhejiang top 100 enterprises" and "Zhejiang tax top 100" xingle group, which is the pride of Wenzhou.

So why did the "top 500 private enterprises" fall into the present predicament?

In Wenzhou's local media reports, xingle group made many cross-border attempts: in 2011, xingle group launched the "xingle purchase", which mainly sold household decoration appliances. In 2013, it set up an "electrical material network" for small and micro enterprises to provide supply chain solutions. In 2014, they set foot in the electricity supplier and launched the "Shanhai flavor" electronic business platform, which mainly produces agricultural and sideline products.

In those days, xingle group ranked the top 100 enterprises in Zhejiang in terms of 10 billion 600 million sales volume, eighty-fourth in Zhejiang and tenth in Wenzhou.

In 2015, it was a crucial year for xingle group.

In addition to the rapid development of various sectors of the group, it was also the first time that xingle group made its debut in the capital market.

In May 26, 2015, xingle Group invested 1 billion 38 million yuan to take the 200 million shares of Heng Tian Hai long held by China Heng Tian Group and was promoted to be a major shareholder of the listed company.

For this move, Hing Lok Group wrote in its official blog, "this year, xingle group, while sticking to its industry, pushed forward to the capital market and opened the prelude to capital management."

From the raise of share transfer funds, xingle group fully embodies the characteristics of Wen Shang's daring to take risks, but after taking equity, he also shows the embarrassment of "acclimatized".

In the May 2015 detailed rights and interests change book, xingle group revealed that 1 billion 38 million of the share transfer 30% came from its own funds and the other 70% was raised by bank loans.

Hing Lok Group said that in March 30, 2015, the Yueqing branch of Bank of China issued a letter of intent for investment to China Heng Tian, which was willing to provide 400 million yuan of financial support to xingle group. On the same day, Wenzhou branch of China Minsheng Bank said it had intention to provide 850 million yuan capital support to xingle group.

By August 18, 2015, Heng Tian Hailong announced that xingle Group paid the share transfer surplus to China in 18 days on August 2015.

Although xingle group said in its announcement, "according to its strategy, the main assets of xingle group's wire and cable and other high-quality assets of its company will be listed in the listed companies." however, the thunder and heavy rain are small.

In November 2015, *ST Hailong suspended a major asset restructuring plan at that time.

*ST Hailong intends to purchase all or part of the stock and raise matching funds in Beijing's big Kaiming Medical Equipment Co., Ltd. by issuing shares.

If passed smoothly, the big Hongkong group, the controlling shareholder of Da Kaiming, will become the new controlling shareholder of Heng Tian Hailong. But ultimately, the desire to transform into a medical enterprise has not been realized.

In January 13, 2016, the *ST Hailong redevelopment plan, which was suspended for 3 months, said that the total price would be 3 billion 338 million yuan to acquire 100% stake in the two hand travel companies and the 100% stake in Ling Yu network.

However, six months later, Heng Tian Hailong announced that it planned to terminate the purchase of two game companies.

This news is also reflected from the side. Xingle group's injection of assets into Heng Tian Hai Long is gradually lost.

In December 29, 2016, xingle Group pledged 200 million shares to Shanghai poly products for financing.

At that time, Heng Tian Hailong shares rose to around 8 yuan, and xingle group received 2 billion yuan from Shanghai poly products.

In October, before the big shareholder changed its main message, the stock price of Heng Tian Hai Long was only about 4.3 yuan.

At the end of 2016, the high point was cut short and its market value was only 3 billion 800 million yuan.

But then the two sides got into trouble.

In May 20, 2019, Heng Tian Hai Long announced the latest developments in the dispute over the loan contract between Shanghai poly products and xingle group and Yu Wen pin. The Supreme Court rejected the xingle group's appeal and xingle group needed to repay 2 billion 39 million 800 thousand yuan in arrears and interest.

"Playing capital is being played by capital." for the experience of xingle group, there are market participants who say so. "Many of the three or four tier cities' manufacturing bosses do not know much about the capital market."

New 80's inward players

The highlight of the story is that the new leader of Heng Tian Hai Long, like Yu Wen pin, is also Wen Shang.

Moreover, it is a post-80s generation.

Public information shows that Wenzhou Kang Nan technology is only a platform company which has been established for less than 1 months. It was founded in September 20, 2019 with a registered capital of 50 million yuan. The residence is located on the first floor of B, Jinhai Lake Park, Wenzhou economic and Technological Development Zone, Wenzhou, Zhejiang. The legal representative is gold coated company, Tu Jin Lian and Hu Xingrong parent subsidiary relationship, holding 0.01% and 99.99% stake respectively.

Hu Xingrong, formerly known as Hu Fengyun, was born in Wenzhou, Zhejiang in January 1981. He was only 38 years old.

In the evening of October 23rd, a detailed report on equity changes in Hailong Hailong revealed Hu Xingrong's personal experience.

"Hu Xingrong started his own business in 2000, founded the elegant brand in the early stage of his business, and continued to integrate resources to build a channel for cooperation between financial institutions and Wen merchants. In recent years, investment has been completed in hotels, property, marine culture, machinery and equipment, cultural tourism, big health, commercial trade, real estate development and M & A.

Hu Xingrong's social duties include "but not limited to Beijing Wenzhou chamber of Commerce, Chongqing Zhejiang chamber of Commerce, Chongqing Wenzhou chamber of Commerce and industry, Wenzhou chamber of Commerce, and many other chamber of Commerce honorary president, and Wenzhou City listing promotion association senior consultant".

In the 2019 Hurun China rich list, Hu Xingrong debuted for the first time, ranking 398 in 10 billion yuan, and eleventh in the Wenzhou rich list.

The story of the spread of the market is that the post-80s businessman started operating bathroom hardware in Wenzhou, and then went to Beijing to make a fortune.

Hu Xingrong's more familiar identity is the founder of Dover group.

Dover Group official website said that the company was founded in 2003, headquartered in Beijing (northern), Hangzhou (Southern), the business sector radiation real estate, trade (energy and commodities), investment, industry, cultural tourism five categories, in 2018, the group's turnover of 50 billion yuan, total trade volume of 42 billion yuan, of which Dover real estate group's total assets of more than 60 billion yuan.

In addition, in 2019, "the top 500 Chinese private enterprises" (Wenshang) list, Dover group, which is parallel to vip.com, CHINT group, Delhi group, Semir group and other enterprises in Wenzhou, ranked first in the 332nd place with a turnover of 25 billion 767 million yuan.

Although they are all "the top 500 private enterprises", Hu Xingrong, the real controller of Dover group, is a veteran of the capital market.

In 2018, Hu Xingrong entered the 0938.HK of the Hong Kong stock listed company, thus controlling the first listed company and serving as the chairman of the board of directors of the people's livelihood. The main assets of Minsheng international are the property of the Chongqing Monument for Liberation commercial district and the property assets near Monument for Liberation walking street.

On the afternoon of October 18th, in twenty-first Century, the economic report reporters visited the Dover group near jinzai Park, B, an economic headquarters building in southern Zhejiang Province, and Jinhai Park, Wenzhou economic and Technological Development Zone. Before a gray office building, there were 12 national flags, and many advanced cars were still parked.

On the first floor, there are real estate sand tables. The front desk staff said, "this is a branch office, the boss is not working here in Beijing," and refused to ask reporters more questions about Heng Tian Hailong.

Dover group set up an office in Wenzhou, which is closely related to the background of Wen Shang's return.

In November 7, 2018, at the World Conference of Wenzhou people, the 25 Wenfeng headquarters of Beijing, Shanghai and Guangdong signed their contracts, including Dover group.

In April 22nd this year, the Wenzhou Economic Development Zone Management Committee and Dover group held a signing ceremony for project investment cooperation in southern Zhejiang economic headquarters building.

At the meeting, Dover group said that since its entry into the open area in 2017, the total investment is about 30 billion yuan. In the future, it is also expected to invest in the construction of the "Dover financial headquarters building project" in the open area. The total annual trade volume will reach 80 billion yuan in 2019, and the foreign capital actually reaches 40 million US dollars. A listed company will also be introduced this year.

From the price point of view, Dover group won the holding power of Heng Tian Hailong.

The auction price was calculated at 581 million yuan, or 2.905 yuan per share. According to the announcement by Heng Hailong, the auction price was 606 million 600 thousand yuan, or 3.033 yuan per share.

However, after announcing the news of the change of major shareholders, Heng Tian Hailong experienced a three day limit on October 11th, 15 and 18, and closed at 3.79 yuan / share in October 25th.

In the evening of October 18th, Heng Tian Hai Long announced that Kang Nan technology had remitted 581 million yuan to designated accounts to complete the payment of equity transfer funds.