Tianyang Holding Set Up "Bureau": Tuopai Shede Group And Shede Liquor Industry Successively Entered The Urn

Before Tianyang Holding Group Co., Ltd. (hereinafter referred to as Tianyang holding) holds 70% of the shares of Sichuan Tuopai shede Group Co., Ltd. (hereinafter referred to as "Tuopai shede group"), shede liquor (600702. SH) issued an announcement on December 29, disclosing the latest progress of the investigation of the company's relevant executives by the public security organs

The indirect controlling shareholder, Tianyang holdings, not only occupies the capital of the listed company through non operating activities of its affiliated enterprises, but also occupies funds by establishing a commercial factoring company with the listed company.

According to the announcement disclosure, shede Liquor Co., Ltd. invested 100 million yuan and held 25% shares in Tianying chain (Shenzhen) commercial factoring Co., Ltd. (hereinafter referred to as Tianying chain factoring) in 2018.

Up to now, Tianying chain factoring only has factoring business with Tianyang holdings and its related parties, making all of the company's funds used by "Tianyang series". The relevant details and responsible personnel need to be further verified and investigated by the public security organs.

Since then, the overall situation of investment in Tianyang holding cloth has gradually emerged. After joining Tuopai shede group, Tianyang holdings reorganized its senior management team to improve its indirectly controlled shede liquor industry. At the same time, it invited Tuopai shede group and shede liquor group to "go into the Urn" by means of transfer from affiliated companies or joint investment, so as to directly misappropriate the funds of its offspring companies or share the income from joint investment with its subsidiaries.

Borrowings and transfers from related companies

The conflict between Tianyang holdings and tuopaishede group was made public last year.

On November 4 of last year, Tuopai shede group and its subsidiary took Tianyang holding and relevant personnel to court for the reason of arrears. The amount owed is up to three times and the time is different, which belongs to different contract disputes.

After accepting the case, the Suining intermediate people's Court of Sichuan Province preserved Tianyang holding's property of 300 million yuan. In August this year, it ruled as follows:

"The 70% equity of Sichuan Tuopai shede Group Co., Ltd. held by the respondent Tianyang Holding Group Co., Ltd. shall be frozen. The frozen amount shall be no more than 330 million yuan, and the freezing period shall be from August 10, 2020 to August 9, 2023."

The loan was generated by Tianyang holdings and Sanhe Tianyang Real Estate Development Co., Ltd. Sanhe Tianyang is a real estate platform controlled by Tianyang. Beijing Tianyang International Holding Co., Ltd. and Tianyang real estate (Tangshan) Co., Ltd. jointly invest in the enterprises, holding 95% and 5% shares respectively.

At the same time, Tianyang holdings and Chenggong (China) Plaza Co., Ltd. revealed a dispute over the transfer of construction in progress: the party filed an arbitration with the Hong Kong International Arbitration Center and appealed to Tianyang holding group to pay the remaining contract amount of 974 million yuan.

The other party also applied to the court for a ruling to preserve Tianyang holding 70% of the shares of tuopaishede group. Although it was later released because the value of the preserved assets far exceeded the amount of the case, the hole in the real estate sector of Tianyang Holdings has appeared.

The gap can not be made up, Tianyang holding hands from the holding Tuopai shede group to the grandson company shede liquor industry.

In August this year, shede liquor industry, which has been focusing on the main liquor industry and has not paid attention to the actual controller Zhou Zheng holding, discovered through self-examination that a related company, Pengshan wine industry Co., Ltd. of Pengxi County, Sichuan Province (hereinafter referred to as Pengshan liquor industry) has become a bridge, transferring as much as 2.1 billion yuan of funds from Lizhou, a listed company, for Tianyang holdings!

Pengshan liquor industry was established in 2001, producing and selling liquor. As before the reform of Tuopai shede group, it is a state-owned enterprise in Shehong County, and the shareholder of Pengshan liquor industry is the state-owned assets supervision and Management Office of Shehong County.

In 2016, when tuopaishede group was restructured, although the shareholders of Pengshan liquor industry did not change, the overall evaluation and delivery were also carried out. All business operations of Pengshan liquor were managed by relevant personnel appointed by Tianyang holdings. Therefore, shede liquor industry and Pengshan liquor industry constitute a legal relationship.

However, Pengshan liquor was used by Tianyang holding capital lending, which was totally unexpected by Shehong county government.

Joint investment

Let Tuopai shede group and shede wine industry invest one after another to become a part of the "Tianyang system" Investment Bureau, which is the usual way for Tianyang holdings to make profits.

On December 29, the board of directors of shede liquor disclosed that on December 27, the company received the notice on the investigation progress of the case of Liu Li and others' breach of trust and damaging the interests of listed companies issued by Suining Public Security Bureau. The specific content is that in the investigation of the case of Liu Li and others' breach of trust and damaging the interests of listed companies, Tianyang Holding Co., Ltd. and shede Liquor Co., Ltd. occupied the company's funds and other criminal lines The relevant criminal facts are under further investigation.

The clue discovered by the public security bureau is that the operation of Tianying chain factoring is questionable.

In 2018, Tianying chain factoring, established by Beijing Tianyang Investment Co., Ltd. (hereinafter referred to as Tianyang investment), a wholly-owned subsidiary of Tianyang holdings, increased capital and shares by Tianyang investment. The company with a registered capital of 50 million yuan was increased by Tianyang investment to 152 million yuan, holding 38% of the shares; shede Liquor Co., Ltd. contributed 100 million yuan, 25% of the shares, and Tuopai shede Group invested 148 million yuan with 37% of the shares.

The reporter of 21st century economic report learned from the industrial and commercial inquiry system that Tianyang investment was the latest one among the funds in place in the same year.

According to the announcement on foreign investment and related transaction disclosed by shede liquor industry at that time, after the completion of factoring investment in Tianying chain, Tianying chain factoring will carry out the accounts receivable factoring business of upstream suppliers in the supply chain, so as to support the operation and development of upstream suppliers in the ecological chain of various entities, which is conducive to strengthening the management of accounts payable of the company and reducing the capital in the circulation link Gold occupation, revitalize the company's available resources, extend the market value chain, and further enhance the company's profitability. But up to now, all funds of Tianying chain factoring have been used by Tianyang holdings and its related parties.

According to the 2019 annual report of shede liquor, as of the end of last year, the company's long-term equity investment balance was 120 million yuan, an increase of 4.44% compared with the same period of last year, mainly due to the increase in investment income of Tianying chain factoring, a joint-stock company calculated according to the equity method last year.

If we say that shede liquor industry has only indirectly entered the investment territory of Tianyang holdings through Tianyang investment, then Tuopai shede group has directly entered the board.

On the evening of November 21, 2017, the office of the leading group for Internet financial risk issued the notice on immediately suspending the approval of the establishment of small online loan companies, which decided that the regulatory authorities of small loan companies at all levels should not approve the establishment of new network (Internet) small loan companies, and prohibit new small loan companies from carrying out small loan business across provinces (regions and cities).

Beijing tuoquan micro loan Co., Ltd. was registered in Haidian District of Beijing on November 15, 2017, with a registered capital of 300 million yuan. Tianyang holdings pulled Tuopai shede group in, holding 51% and 49% shares respectively. On May 29, last year, Beijing Municipal Finance Bureau released the information form of Beijing small loan companies on its official website. As of May 28, 2019, there were 132 small loan companies in Beijing, among which tuoquan small loan company was listed.

According to qixinbao, tuopaishede group has invested as many as 24 enterprises abroad. In addition to wholly holding Sichuan Tuopai Electric Power Development Co., Ltd. and participating in Suining bank before the restructuring, Tuopai shede Group invested 500 million yuan to establish Sichuan dream oriental culture Investment Co., Ltd. in 2016. The company showed abnormal operation in qixinbao because it publicized the enterprise information, concealed the true situation, and practiced fraud.

In addition to participating in Tianying chain factoring, Tuopai shede group also holds a stake in Beijing Hexin Tianbao investment and shares in tanchuan Group Co., Ltd., which is engaged in real estate.

So, what is the result of Tianyang holding's investment?

In addition to the Tuopai shede group that it holds is about to be auctioned, the 21st century economic report reporter inquired the national enterprise information publicity system and qixinbao, and learned that among the 22 enterprises directly invested by Tianyang holdings, 600 million shares of Tianyang cultural and creative fund were frozen, Shenzhen Tianyang Internet Financial Services Co., Ltd. was written off last year, and Mengdong culture and Entertainment Group Co., Ltd. and Guoteng Investment Co., Ltd. were also informed Due to the abnormal operation of the limited liability company, Tianyang land Co., Ltd. is restricted from high consumption, and the bill dispute will be held on January 26, next year. Tuopai shede group is also deeply involved in equity freezing and contract disputes.

?