Vice Chairman Suspected Of Bribery Was Transferred To The Procuratorial Organ Gem "New" Leo Planning Stock Price Nearly Cut

? ? ? ? On August 23, lei'ao planning (300989. SZ) announced that Wang Xue, vice chairman of the company, was relieved of the lien measures. The company learned that Wang Xue had been transferred to the procuratorial organ for examination and prosecution according to law.

? ? ? All media reporters of Nanfang finance and economics learned from the supervision commission of Foshan Municipal Commission for Discipline Inspection that Wang Xue had decided to expel Wang Xue from the party because of hanging shoulder to shoulder with social bosses, accepting gifts and cash, and taking advantage of his position to seek benefits for others in land transfer, transfer, storage and auction, and reduction of idle expenses, They shall confiscate their illegal gains and transfer them to the procuratorial organs for examination and prosecution.

? ? ? According to the public information, Wang Xue has been engaged in planning and design industry for 27 years and has won many international and domestic excellent design awards. He is the executive director of China Urban Planning Association, an expert in the operation of characteristic towns, initiator of the International Forum on finance and economics, Shishan Forum on new urbanization in China, and Zhenghe Island featured town Summit Forum, the initiator of integrated comprehensive consultation in the field of urban construction in China, and the tribal chief of Zhenghe island characteristic town, a high-end platform for Chinese entrepreneurs, Former party secretary and member of Nanhai District Standing Committee of Shishan town, Foshan (2011-2015), former full-time deputy director of Foshan high tech Zone, former Secretary of Party Working Committee of Nanhai high tech Zone (2012-2014), and former deputy director of Nanhai Branch of Foshan Municipal Planning Bureau (1998-2006).

? ? ? ? Since landing on the gem in May this year, the stock price performance of leio planning is not ideal. On the day of listing, it soared 48% to 76.3 yuan / share, but fell below the issue price one month later. As of the closing of August 23, it was 44.30 yuan / share, close to the "low cut".

Since landing on the gem in May this year, the stock price performance of Leo planning is not ideal. Visual China

Vice chairman charged with bribery

? ? ? According to the announcement, Wang Xue has submitted a written resignation report because he is unable to continue to perform the duties of the company's director and vice chairman. As of the announcement date, Wang Xue directly held 3.2171 million shares of the company, accounting for 5.12% of the total share capital, and held 3.05% of the capital contribution of Shenzhen Leiao enterprise management consulting partnership (limited partnership).

According to qixinbao data, Wang Fuhai, the founder and chairman of the board of directors, holds 6.5669 million shares of leio planning, accounting for 10.94% of the total equity; As an executive shareholding platform, lei'ao management consulting partnership holds 4.9161 million shares, accounting for 8.19%. They are the first and second largest shareholders respectively, while Wang Xue is the third largest shareholder and the second natural person shareholder.

Looking back on the process of Wang Xue's equity participation, as early as the third additional issue of lei'ao Co., Ltd., the predecessor of lei'ao planning, in July 2016, Wang Xue increased capital by 1.2 yuan / share by 1015000 yuan, holding 6.95% of the equity, becoming the largest natural person shareholder except Wang Fuhai.

? ? ? ? In addition to Wang Xue, most of the natural person shareholders with a high proportion of shares are colleagues from Shenzhen Urban Planning and Design Institute (hereinafter referred to as "Shenzhen Planning Institute") when Wang Fuhai started his business.

At that time, as a designer of China urban planning and Design Institute (hereinafter referred to as "China planning and Design Institute"), Wang Fuhai was sent to Shenzhen by his unit, and later became president of the Institute.

In December 2007, the Institute was transformed from a public institution into an enterprise, and its assets, business and personnel were inherited by the company. Wang Fuhai resigned from the Shenzhen Planning Institute Co., Ltd. in April 2008. Influenced by the restructuring enterprises of the Institute, 17 people, including Chen Hongjun, Zhu Xuhui and Jin Cheng, left the Institute successively and followed Wang Fuhai to start a business. After the reform, the institute no longer operates in practice, and has been revoked for failing to conduct annual inspection in the industrial and commercial authorities for three consecutive years.

Lei'ao planning was established and operated as early as 2008, and the current senior management team is almost composed of colleagues from Shenzhen Planning Institute who followed Wang Fuhai to start a business. Wang Xue, who resigned in 2015, is a "latecomer" in lei'ao planning, but many of them have more shares than the start-up team.

? ? ? ? Among them, Chen Hongjun served as vice chairman and chief planner, holding 5.21% of shares; Zhu Xuhui holds the post of director and general manager and holds 5.21% of shares; Jin Cheng served as the Secretary of the board of directors and chief financial officer, holding 3.65% of the shares. It can be seen that Wang Xue's share proportion is basically the highest level except Wang Fuhai.

Why does lei'ao plan value Wang Xue? From the resume, on the one hand, Wang Xue is also a city planning background. He has successively served as assistant engineer of Guiyang Planning Bureau, assistant engineer of Nanhai planning and Design Institute, and section member, deputy section chief and deputy director of Nanhai City (District) Planning Bureau.

? ? ? ? On the other hand, Wang Xue's long-term tenure in Nanhai District Planning Bureau and Shishan town of Foshan City has enabled him to gain planning and local experience and resources, which is in line with leio's main business of urban and rural planning, special planning, planning consultation, landscape engineering design, municipal engineering design, etc.

At present, the stock price of leio planning is about 44 yuan / share. According to the 3127100 shares held by Wang Xue, the total value is about 138 million yuan. In other words, the cash cost of Wang Xue's initial share in leio planning is 1.01 million yuan, and the return is more than 100 times in less than six years.

The reporter inquired the prospectus and found that Wang Xue's share capital was only stated to be the self owned fund formed by salary income and / or family accumulation. Since Wang Xue was prosecuted for suspected bribery, it is not ruled out that the share capital comes from the bribery income and the possibility that the equity may be frozen by the court.

Lawyer Mao Wei, senior partner of Beijing Jingshi law firm and director of capital market department, told reporters, "whether Wang Xue's share capital is invested by bribery income needs to wait for the specific investigation results of public security organs, which is still uncertain. If there is a problem with the source of contribution, the shares held may be frozen by the court. The freezing of shareholders' shares is mainly a problem at the level of shareholders, which has a limited impact on listed companies. "

On the issue of whether the shares will be auctioned, Mao Wei pointed out that "if the shares are frozen, it is still necessary to wait for the final result of the case. The freezing of assets is a means of sealing up in the process of criminal investigation, which is different from the seizure in civil cases. The auction procedure is not involved temporarily."

The growth rate of the renewal performance of fali city has slowed down

In recent years, lei'ao planning has obtained a number of planning and design projects in Foshan, including the TOD control planning project around the near-term construction line station of Foshan rail transit with a contract amount of 7.6 million yuan, the urban renewal unit plan and unit planning preparation project of Xingxian community plot in Shishan town, Nanhai District, The project of urban renewal unit planning of huangqibichong Shalian plot in Dali Town, Nanhai District, and urban renewal unit plan, planning and implementation plan preparation project of Huayong Village (Sanyue and Hongjia plots) in Shishan town, Nanhai District.

According to the company's listing announcement, the bid winning rates of the company's participation in the bidding in the past three years were 37.28%, 35.17% and 38.89%, respectively.

? ? ? According to the performance forecast, from January to June 2021, the company's revenue is expected to reach 185 million yuan to 200 million yuan, with a year-on-year increase of 6.76% to 15.42%; It is estimated that the net profit attributable to the shareholders of the parent company will be about 28 million yuan to 30 million yuan, with a year-on-year increase of 4.42% to 11.88%; It is estimated that the net profit attributable to the shareholders of the parent company after deducting non recurring profit and loss will be 25 million to 27 million yuan, with a year-on-year increase of 11.85% to 20.80%.

The main reason for the performance change is the comprehensive influence of the company based on the contract signing, project progress, market environment and other factors.

It can be seen from the comparison that the growth rate of performance of Leo planning has slowed down in recent years. During the reporting period from 2018 to 2020, the operating revenue of leio was 329.7653 million yuan, 396.285 million yuan and 492.5794 million yuan, respectively, with an increase of 45.72%, 20.17% and 24.30%; The net profit was 46.4974 million yuan, 66.9796 million yuan and 94.3279 million yuan, respectively, with an increase of 94.63%, 44.05% and 40.83%.

Wang Fuhai believes that China's urban development is moving from the era of large-scale construction to the era of stock improvement and quality improvement, and the focus of urban planning should also change from construction planning to operational planning, that is, from 1.0 to 2.0.

? ? ? According to leio planning, urban construction has shifted from incremental development to stock optimization, and urban renewal has become the key work of urban development and construction in the future. The content and degree of planning services provided by planning companies have changed, and the problems involved are particularly complex, such as property rights, buildings, land use, and land nature (state-owned land, collective land, land use, land use, land use, land use, land use, land use, land use, land use, land use, land use, land use, land use, land use, land use Illegal construction land) is also related to the return index of land acquisition; There are also important policy issues, which require planning companies to have a higher level.

? ? ? Recently, in response to the survey of investment institutions, Leo planning said that in the future, it will vigorously develop smart planning, become an intelligent innovation and application platform for urban planning and design, and continuously improve the two core business capabilities of planning and design and engineering design. In addition, we should continue to promote the localization service strategy of the branch company. The branch company is the antenna of the company to carry out the whole business in the local area. We must take root in it, form a very deep cooperation relationship with the local government, and provide long-term, continuous, stable and high-value services in the whole process of urban planning and construction.

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